Salamis Tours (Holdings) Public LTD

Related Party Transaction • May 24, 2021

SALAMIS TOURS (HOLDINGS) PUBLIC LTD

24 May 2021

ANNOUNCEMENT

Sirs,

Salamis Tours (Holdings) Public Ltd announces that it has signed an agreement (MOA) for the purchase of a RO RO car ferry.

The purchase price of the said vessel amounts to €4,750,000 and the agreement is expected to be concluded with the delivery of the vessel in July 2021. The vessel was built in 1990, has a gross tonnage of 21,224 and is registered in Finland. The company intends to register the vessel in Cyprus. The vessel's purchase falls within the Group's maritime operations.

The following is also noted:

• (a) The transaction was made on an arm's length basis;
• (b) The said transaction is not related to and does not affect the interests of the Company's Secretary or designated person under the meaning attributed to this term in Article 137(3) of the Law;
• (c) The counterparty is OY TRAILER-LINK AB whose seat is in Finland;
• (d) The vessel is purchased by the subsidiary Vassilios Shipping Company Ltd;
• (e) The transaction does not pertain to the acquisition of a company but an asset;
• (f) Regarding the mode of payment of the consideration, an advance payment of 10% has been made. The remainder will be paid upon conclusion of the agreement with the delivery of the vessel;
• (g) No goodwill or profit or loss arise from the purchase of the said vessel. The vessel will be entered in the books under the cost of acquisition and will be depreciated using the fixed method so as to write off the cost, less its residual value, within its expected useful life.

Yours, Elena Hadjitheodosiou Managing Director