Constantinou Bros Hotels Public Company LTD

Management Reports • Jul 13, 2022

. July 13^tt, 2022

To: Chairman of CSE Nicosia

Subject: Interim Management Statement

Constantinou Bros Hotels Public Company Ltd, announces its interim management statement for the year. 2022, covering the period from 01/01/2022 to 30/06/2022 in accordance with Article 11 of the Transparency Requirements (Traded Securities in Regulated Market) Law of 2007 (N.190 (I) 2007), as follows:

Nature of the Group activities

The principal activities of the Group is the ownership and management of hotel units in Paphos as well as the marketing and development of land.

General overview of the financial situation and performance of the Group

During the reporting period we will have operating profit compared to a loss in the corresponding period last year.

The reason for the increase in operating profit is due to the increase in the Group's hotels occupancy. The Group will present profits compared to losses for the results of the same period of the year 2021.

Developments and Prospects

The Board of Directors and the Management consider that under the present circumstances and taking into account the global economic situation, the results in the current year are expected to occur profit for the year compare to loss in the year 2021.

Other essential information and transactions

In addition to the transactions and other members of the Board of Directors and the related parties mentioned in note 30 of the financial statements, there were no other significant contracts with the Company or its subsidiaries at 31 December 2021 in which Directors or related persons had essential interest. Related persons include the spouse, adult children and companies in which the Director holds directly or indirectly at least 20% of the voting rights in the General Meeting.

The Secretary Anastasiou