Universal Golf Enterpises Plc

Business and Financial Review • Dec 9, 2024

UNIVERSAL GOLF ENTERPRISES PLC

9th December 2024

CYPRUS STOCK EXCHANGE 71-73 Lordou Vyronos Avenue 1096, Nicosia

For the attention of Mrs. Eliza Stasopoulou

Dear Madam,

BUSINESS PLAN TIMETABLE

Further to your letter dated 5th November 2024 and in continuation of our previous update dated 13th December 2023, we are pleased to provide you with the latest progress regarding the "Limassol Hills" golf course development.

Following the submission of the additional drawings requested by the District Officer of Limassol to secure the plot division license and the building permit for the four supporting buildings, the District Officer has continued consultations with the relevant departments.

As part of this process, several additional studies were carried out in 2024, including designing a 5-star hotel, a spa and wellness center, and the first phase of branded residences for the development.

We expect the building permit to be issued in due course, and the District Officer will include their final terms and conditions within the permit.

Should you require any further information or clarifications, please do not hesitate to reach out.

Yours faithfully

Eleana Spyris Secretary

UNIVERSAL GOLF ENTERPRISES PLC: Univer, T.O. 21270, 1505 Λευκωσία, Κύπρος, Τηλ: 357 22882222, Φαξ: 357 22882211 UNIVERSAL GOLF ENTERPRISES PLC: Univer, P.O.Box 21270, 1505 Nicosia, Cyprus, Tel: 357 22882221 Μέλος του Ομίλου Εταιρειών Universal | Member of Universal Group of Companies