TIME FINANCE PLC

Related Party Transaction • Oct 7, 2022

Company Announcement

Date of Announcement: 7 th October, 2022 Reference: MRF 74

The following is a company announcement issued by Mariner Finance 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 they may be amended from time to time.

QUOTE

Acquisition of SIA Mariner Logistics

The Board of Directors of the Company hereby announces that, on the 6 th October 2022, the Company entered into an agreement with its majority shareholder, Mariner Capital Limited (a private limited liability company registered under the laws of Malta with company registration number C 11890 and having its registered office at 37, Triq Censu Tabone, St. Julian's STJ 1218, Malta), and SIA Mariner Logistics (a company registered under the laws of Latvia with company registration number 50203198151 and having its registered office at Uriekstes 32, Lv 1005, Riga, Latvia), pursuant to which the Company agreed to acquire from Mariner Capital Limited the entire issued share capital of SIA Mariner Logistics, in exchange for a total consideration of €7,238,931. The transaction is conditional upon the Company obtaining the necessary financing and is expected to be concluded in Q1 of 2023.

Following the completion of the transaction, SIA Mariner Logistics will become a wholly owned subsidiary of the Company. SIA Mariner Logistics was incorporated on the 28 February, 2019 as a fully owned subsidiary of Mariner Capital Limited.

SIA Mariner Logistics' principal business activity is the leasing of property located in Latvia. SIA Mariner Logistics has the right of use over a site located in the municipality of Mᾱrupe, Riga, Latvia, and operates a commercial property, which consists of a warehouse building with office space, two auxiliary buildings and an engineering building, covering an aggregate area of 31,549.4 sqm (the "Mᾱrupe Property") which was built on said site. An area of circa 10,145 sqm of the aforementioned site has additionally been developed by SIA Mariner Logistics as a car park, while the remaining area of circa 19,090 sqm is currently undeveloped. The Mᾱrupe Property is strategically located within the territory of the Riga International Airport in Latvia, with road connections to Riga City Centre, Riga port, national highways and the Baltic highway network. It is also in close proximity to the planned Rail Baltica project, which will connect Riga International Airport to Riga City Centre and to other key cities in the Baltics. The Mᾱrupe Property is leased out to a total of 14 tenants.

UNQUOTE

Kevin Saliba Company Secretary

7 th October 2022