Mitsides Public Company Ltd

Management Reports • Dec 23, 2025

BUSINESS PLAN IMPLEMENTATION

We would like to inform Cyprus Stock Exchange ("CSE") and the investing public in regards to implementation of our business plan which was included in the Mettmann Plc (the "Company") application for admission of the Company's shares (Trading Code: METTM, ISIN: CY0200410716) dated 22.12.2022 in the CSE Emerging Companies market and in the application of admission of the Company's bonds (Trading Code: METTB2030, ISIN: CY0240782215) dated 17.06.2024 in the Emerging Companies Cyprus Bonds market and subsequent announcements posted to the OAM System of the CSE.

In reference to the Company's Business Plan information and developments, the Company issued official announcements through the CSE's Officially Appointed Mechanism (OAM) and though Mettmann PLC official website.

Principal activities and nature of operations of the Company

The principal activities of the Company, which are unchanged from the date of publication of its Admission Documents are acquisition of financial instruments on Real Estate market and providing financing to development and construction of real estate projects. Such financial assets include loan rights, equity rights and direct investments in the Republic of Cyprus, the Kingdom of Spain and other European countries.

Current position, future developments and performance of the Company's Business Plan

The business plan and projected investments outlined in the Admission Documents are currently being finalized. The Company has successfully secured the majority of the transaction agreements necessary to execute the projects detailed in the Admission Documents and subsequent announcements. Currently, the Company is in the process of performance of the agreements by financing the respective real estate projects and overseeing the fulfillment of contractual obligations by counterparties, as well as managing administrative functions to ensure the successful completion of the projects. In order to safeguard Company's investments, we maintain a firm stance on the inclusion of guarantees and collateral securities on the real estate assets under consideration.

The Company emphasizes that certain investment projects, or aspects of their implementation, are at the stages of negotiation, and the reliability of the financial data will be assessed at a later phase. The Company reserves the right not to proceed with any investment project outlined in its Business Plan until the respective agreements have been formally executed between the relevant parties. The net profit of the Company for the year ended 2024 amounted to €1,044,020 (2023: €427,368). As of 31 December 2024, the total assets of the Company were €84,931,941 (2023: €51,890,761) and the net assets of the Company were €1,223,261 (2023: €179,241). The financial position, development and performance of the Company are in line with the Board of Directors' expectations.

Group consolidated and standalone financial statements for the year ended 2024 were audited and issued with unmodified audit opinion. The unaudited group and standalone financial statements for the period ended 30 June 2025 were published to the CSE.

The Company's financial and legal departments with the oversight of the Board of Directors are monitoring and reviewing all projects separately to ensure that the Business Plan is executed in the Company's best interest. Depending on the complexity of a project, the Board of Directors, in cooperation with the Company's senior officers, may decide to engage external advisers to provide guidance and assistance to the Company.

Mettmann Plc is continuously striving to adhere to its business model as stated in the Admission Document. Management continues to explore new opportunities and strive for operational improvements to achieve the Company's goals. The Company is continuously considering sustainable and profitable future projects worldwide, that will drive long-term growth of the Group and maximize the shareholders' wealth.

The Company will issue further announcements upon participation of any other real estate projects within its business plan, upon finalization of each project, with reference to the final investment amount and any other important information.

By the Board of Directors.