Hili Properties Plc

Regulatory Filings • Mar 29, 2022

COMPANY ANNOUNCEMENT

The following is a Company Announcement issued by Hili Properties p.l.c. (the "Company") pursuant to the Capital Markets Rules issued by the Malta Financial Services Authority in accordance with the provisions of the Financial Markets Act (Chapter 345 of the Laws of Malta), as amended from time to time.

Co Ann Ref: 97/2022

QUOTE

The Company is pleased to announce that it has acquired a 7,863 sqm shopping centre in Riga, Latvia, built on 21,580 sqm of land, for a net price of €20,000,000.00. The property is situated in one of Riga's most densely populated residential areas. The shopping centre has been operational for fifteen years and has the benefit of an anchor tenant as well as other successful retail operators.

The acquisition has been structured as a share sale pursuant to which a subsidiary of the Company incorporated in Latvia (SIA "Premier Estates Ltd" (registration number 40003993068)) acquired 100% of the issued share capital of SIA "SC Stirnu", incorporated in Latvia (registration number 40203080142).SIA Stirnu is the owner of the said shopping centre.

This asset in Latvia, increases the Company's portfolio from €135 million to €155million and extends the total leasable square metres to 98,000 square metres across 24 properties.

UNQUOTE

BY ORDER OF THE BOARD

Laragh Cassar Company Secretary 28 March 2022