Mitsides Public Company Ltd

Management Reports • Mar 11, 2020

ANNOUNCEMENT 11/3/2020: CORONAVIRUS (COVID-19) - ECONOMIC IMPACT, RISKS AND UNCERTAINTIES

Mitsides Public Company Limited, in accordance with the relevant regulations of the Cyprus Stock Exchange and the Cyprus Securities and Exchange Commission, and with the aim of informing shareholders and the investing public as fully as possible, announces that, based on current data and information, the Group's turnover has not been adversely affected, nor has there been a significant impact on the Group's production processes and supply chain.

The significant uncertainty brought about by the uncontrolled spread of the Coronavirus in international markets and the global economy, which has also affected the Cypriot economy since the announcement of the first outbreaks in Cyprus, has significantly increased the risks that could have adverse effects on the Group's supply chain in the future. In addition, consumption is likely to decline significantly as a consequence of the decline in tourist flows to Cyprus during the summer period, a fact that may create liquidity problems for the tourism and food industries.

The Company takes into consideration all the above asymmetric risks and uncertainties and takes all appropriate measures to reduce any future losses and problems in carrying out the Group's operations.