TIME FINANCE PLC

Regulatory Filings • Jun 23, 2023

Company Announcement

Date of Announcement: 23 June, 2023 Reference: MRF 82

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

Reference is made to: the company announcement published by the Company on 7 October, 2022 (MRF 74) in connection with the entry by the Company into a share purchase 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) ("Mariner Capital Limited"), 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) ("SIA Mariner Logistics"), 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; and to the company announcement published by the Company on 30 March, 2023 (MRF 79), pursuant to which the Board of Directors announced that closing date for the transaction to be completed had been extended to 3 July, 2023.

The Board of Directors hereby announces that, having given further consideration to the transaction, it has resolved not to proceed with the acquisition of SIA Mariner Logistics, and with effect from 23 June, 2023 has terminated the aforementioned share purchase agreement entered into with Mariner Capital Limited and SIA Mariner Logistics, in accordance with the terms and conditions stipulated therein. As a result, the commercial property in the municipality of Mᾱrupe, Riga, Latvia consisting of a warehouse building with office space, two auxiliary buildings and an engineering building, covering an aggregate area of 31,549.4 sqm and operated by SIA Mariner Logistics, will not form part of the Company's property portfolio.

The Board is of the view that the decision not to proceed with the acquisition of SIA Mariner Logistics will not have a material impact on the financial position and performance of the Company. Further information on the impact of the Company's decision not to proceed with the transaction shall be set out in part 2 (Group Performance Review) of the Financial Analysis Summary 2023 expected to be published on or around 28 June, 2023.

UNQUOTE

By order of the Board

Kevin Saliba Company Secretary

23, June 2023

Mariner Finance plc 37, Triq Censu Tabone, St.Julians, STJ 1218, Malta T. (+356) 2247 0100 F. (+356) 2247 0117 E. info@mfplc.com.mt Directors: M.Hili (Chairman), E.Hili, M.Borg, K.Saliba, L.Zammit, A. Busuttil, I. Micallef