TIME FINANCE PLC

Related Party Transaction • Jun 8, 2023

The following is a Company Announcement issued by G3 FINANCE P.L.C., a company registered under the laws of Malta with company registration number C 94829 (hereinafter 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.

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Information to the Market

The G3 Group, acting through G3 Holdings Limited, reached a conditional agreement to purchase the Palm Beach Resort lido, formerly known as Armier Lido, at Armier Bay in the limits of Mellieha. In virtue of a promise of sale agreement entered into for the purpose with Saviour Sammut, Cynthia Sammut and Claire Sammut and with Eight Eleven Ltd, a private limited liability company registered in Malta with registration number C 67274 (of which said individuals are the registered shareholders), G3 Holdings Limited secured the right to purchase the said property and all movables currently situated therein, including applicable permits and licences attaching to the property, as well as the exclusive right for G3 Hospitality Limited to manage, operate and use the Palm Beach Resort lido with immediate effect and throughout the term of the preliminary agreement in subject. In virtue of the said promise of sale agreement, although independently from the sale of the afore-mentioned property and the movables included therein, the parties thereto also agreed upon the sale and transfer of all shares issued in the capital of Eight Eleven Ltd from the existing shareholders of said company to G3 Holdings Limited, subject to the carrying out of a due diligence exercise into the affairs of the said company and to the satisfaction of other conditions. The afore-mentioned agreement remains valid till 12th December 2025. The Company will keep the market informed of developments in connection with the foregoing, as necessary.

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By order of the Board

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Dr Luca Vella Company Secretary

8

th June 2023 Company Announcement: G312

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