Technical Olympic S.A.

Annual Report • May 29, 2025

Annual Analysts' Briefing

2024 Annual Financial Report

29.05.2025

Source: Annual Reports Techol, 2024.

Highlights 2024-2025

TECHNICAL OLYMPIC S.A., as the holding company, actively monitors and coordinates all the activities of the Group companies, and provides them with administrative, advisory, and operational support. It also defines and supervises the goals and projects undertaken to implement, as well as ensuring organic and functional synergy across various departments.

Enhance shareholders' value

Core Competences

Integrity

Innovation

Adaptability

Efficiency

Corporate Responsibility

At a glance, 2024

Consolidated Income

Amounts in th. €	FY 2023	FY 2023	%
Sales*	19.115	16.314	17%
Gross profit/(loss)	8.128	4.726	72%
Administrative expenses	-4.759	-3.906	22%
Operating results	3.515	1.886	86%
Profits / (losses) before tax	12.831	6.189	107%
Profits / (losses) after tax	12.547	5.959	111%
Result from discontinued operations	-6.243	-3.893	60%

(*) Revenues in fiscal year 2024 show an increase, mainly due to revenues from vessel charters, which amounted to €16,027 thousand, as well as income from Real Estate operations, which reached €2.212 thousand. Samos Marina reported revenue growth for fiscal year 2024.

Group Key Figures/Indicators

Amounts in th. €	Indicator calculation	FY 2024	FY 2023
Working Capital	Current assets – Short term liabilities	74.084	62.086
Net Debt	Total Financial Liabilities – Total Cash	-19.010	-11.038
% EBITDA	EBITDA / Sales	46%	54%

Following our investment moves in the shipping and tourism sectors, investments followed in other sectors such as real estate management, loan and energy management, aiming at growth and profitability.

Group Key Figures/Indicators

in € mn

Group Financial Position

Amounts in th. €	FY 2024	FY 2023
Fixed and Right-of-use assets (Owner-occupied and Investment assets)	93.197	104.767
Investments in associates	961	3
Goodwill	1.179
Equity Instruments	23.415	25.268
Commercial and other receivables	45.909	44.792
Financial assets at fair value through profit and loss & other total income	25.235	24.743
Cash and cash equivalents	33.977	22.910
Total assets:	223.872	222.483
Financial liabilities	20.093	15.816
Deferred tax obligations/ Current tax liabilities	6.936	6.810
Commercial and other obligations	4.484	3.925
Other liabilities	10.727	10.637
Equity	181.632	185.295
Total liabilities and equity:	223.872	222.483

Alternative Performance Measures Indicators

Performance Ratio	FY 2024	FY 2023	%
Net results after tax / Equity	6,9%	3,2%	115%
Profitability Ratio
Net EBITDA / Total income	46,4%	53,9%	-14%

Non-Financial Performance Ratios

Employment	FY 2024	FY 2023
Rate of full-time employees staying at work	92,31%	81,63%
Education & Development
Man-hours of training	200	0
Human Rights
Rate of women in direct employment	36,54%	46,94%

Liquidity

	2024	2023
Bank borrowing	7.051	7.588
Finance and Operating lease liabilities*	4.754	5.161
Bond loans	5.330
Total Financial Liabilities	17.135	12.749
Cash and cash equivalents	33.977	22.910
Blocked bank deposits	2.168	877
Total Cash	36.145	23.787
Net debt liabilities	-19.010	-11.038

* The lease obligations include an amount of € 2,37 million. (€ 2,38 million for 2023) concerning the recognition of the obligation of future leases for the Samos Marina under IFRS 16 Leases" and other leases to the Group.

Group Cash Flow

Amounts in th. €	FY 2024	FY2023
Operating Flows	4.356	(4.245)
Investment Flows	3.216	2.590
Financial Flows	3.230	(3.457)
Total Cash Flow	10.802	(5.112)

Portfolio Diversification as of 31.12.2024

• Shipping
• Real Estate
• Tourism (Marina mgmt)
• Construction
• Building rentals
• Helicopter rentals

Shareholders Structure

Stengos family

• Own shares
• Foreign Institutional Investors
• Greek Institutional Investors
• Non-Institutional Investors

Share Capital	203.466.750 €
Total listed shares	40.693.350
ISIN	GRS403003007

Price (31/12/2025): € 2,39 Capitalization: € 97,257,107

Higher daily transactions value noted during the period 2023 at an average of 54k.

• Shipping Sector

Name of Ship	IMO number	Type	Built	TEU	LWT	% Participation	Initial Cost	Ship Valuation	Ship Valuation of our Participation
							(th. \$)	(th. \$)	(th. \$)
ZIM HAIFA	9218650	Container	2001	5.510	24.453	15%	1.102	20.500	3.075
EPAMINONDAS	9153862	Container	1998	6.690	28.423	15%	890	21.500	3.225
MARIANNA I	9162227	Container	1998	6.690	28.423	15%	890	21.500	3.225
TONSBERG	9216999	Container	2001	5.447	23.291	15%	1.252	31.000	4.650
ZOI	9216987	Container	2000	5.447	23.291	15%	932	26.250	3.938
STAMATIS B	9280811	Container	2004	4.239	16.776	15%	960	20.000	3.000
ROMA	9304447	Container	2006	9.784	36,218	85%	11.915	61.000	51.850

Profitable Development through major drivers

Shipping	Tourism Marinas exploitation & mgmt	Construction segment	Real Estate Development
Energy segment	Flying rental services	Geographic expansion	ESG

Technical Olympic Group of Companies is aiming to strengthen the existing field of activities and add new ones, specifically:

• If conditions are deemed favorable, the company intends to renew and/or increase its participation in containerships fleet.
• Expansion of Samos Marina through development of new sites yachts, dry dock areas and renovation of the buildings and the surrounding area.
• Development of a 1 MW biomass-powered electricity generation unit, located on company-owned property in the industrial area of Patras, for which a financing application has already been submitted under the Recovery and Resilience Facility (RRF).
• Development of a commercial and exhibition center in Patras, through the utilization of company-owned property, for which an application for inclusion in the Recovery and Resilience Facility (RRF) has been submitted.
• Increasing activities into private real estate development projects in prime locations, such as Vouliagmeni and Kifissia.
• Retention of a 25% equity stake in the energy company "Aeiforos", which owns 9 fully constructed photovoltaic stations with a total capacity of 8 MW, 7 of which are already connected to the HEDNO grid.

Technical Olympic Group of Companies is aiming to strengthen the existing field of activities and add new ones, specifically:

• Exploitation of the already acquired property in the U.S.A.
• Renovation and utilization of the property in Germany.
• Reactivation in the tourism sector by acquiring / developing hotel-operating properties.

SOCIAL GOVERNANCE

Group's commitments

• The continuous improvement and harmonization of internal structures, policies, and procedures with the provisions of the regulatory framework
• Reducing the negative impact on factors affecting the climate change and environmental pollution. TECHNICAL OLYMPIC S.A. has already developed a P-V plant of 77,22kW on its headquarters building (Alimos), which contributes ~75% of the building total energy requirements.
• Increasing investments in actions that support the achievement of the 2030 sustainable development goals as defined at international, European and national level

Sustainable Development

Purpose

• Reducing the negative impact on factors affecting the climate change and environmental pollution.
• Increasing investments in actions that support the achievement of the 2030 sustainable development goals as defined at international, European and national level.

Evaluation

• In March 2023, the company AMID IKE conducted an assessment of the adequacy and effectiveness of the Internal Control System of the Company and its subsidiaries, Samos Marinas S.A. and T.O. International Holding Ltd. According to the findings, the Internal Control System was deemed satisfactory. Following this initial evaluation, a new assessment for the 2023–2025 period has already been initiated.
• SustChem Technical Consulting S.A. prepared and submitted the carbon footprint report. The results were considered particularly satisfactory, both in comparison with the previous year's data and relative to peer companies.

• Real Estate Management Sector

The company named "TECHICAL OLYMPIC S.A." (hereinafter referred to as the "Company") informed the investment community of the following:

1. On July 15, 2024, its Cyprus-based subsidiary, under the name T.O INTERNATIONAL HOLDING Ltd, established a company named T.O.I. Real Estate Development LLC in the State of Delaware, United States of America.

2. On July 17, 2024, T.O.I. Real Estate Development LLC, in collaboration with the company Glenarif Properties LLC, won an auction for a property with an area of 1,715 m², located at 11295 Gulf Blvd, Treasure Island, on the west coast of the State of Florida, United States of America, offering a sum of two million six hundred forty thousand dollars (\$2,640,000), with the aim of developing it (through a joint venture according to the terms of their agreement) as a Condo Hotel. Of the aforementioned amount of two million six hundred forty thousand dollars (\$2,640,000), T.O.I. Real Estate Development LLC paid an amount of two million five hundred eight thousand dollars (\$2,508,000).

• Loan Management Sector

The company named "TECHICAL OLYMPIC S.A." (hereinafter referred to as the "Company") informed the investment community that its Ireland-based subsidiary, "PREMIER FINANCIAL SERVICES HOLDCO LTD," which is indirectly controlled by the Company through "T.O INTERNATIONAL HOLDING LTD" and "PFC PREMIER FINANCE CORPORATION LTD," has entered into an agreement for the sale of all the shares it holds in "PREMIER FINANCIAL SERVICES SINGLE-MEMBER PRIVATE LIMITED COMPANY FOR THE MANAGEMENT OF LOANS AND CREDIT CLAIMS."

• Real Estate Management Sector

The company named "TECHICAL OLYMPIC S.A." (hereinafter referred to as the "Company") informed the investment community in December of the following:

Its Cyprus-based subsidiary, T.O INTERNATIONAL HOLDING Ltd, has established a company in Germany, with a 100% ownership stake, which bears the name T.O. International GmbH. The newly established company in Germany, T.O. INTERNATIONAL GMBH, has formed a new company with the German-based company Konstantin Vermögensverwaltung GmbH, under the name QUARTIER GRÜNER WEG GmbH, which is also based in Germany. Both companies, as shareholders, each hold a 50% stake in the newly formed company.

On December 18, 2024, the company QUARTIER GRÜNER WEG GmbH signed a purchase agreement for an existing office building near Frankfurt Airport, with a total area of 12,428.16 m² of main spaces, 1,550.00 m² of auxiliary storage spaces, and 16,950 m² of garage space. The purpose is to renovate and redesign the building into a residential complex with studio apartments, each ranging from approximately 22 m² to 40 m². The purchase price for this property amounts to 15,000,000 euros. The purchasing company aims to cover part of the purchase price through bank financing.

• Real Estate Management Sector

The company named "TECHICAL OLYMPIC S.A."(hereinafter referred to as the "Company") informed the investment community that, on January 17, 2025, it signed an agreement for the immediate purchase of all shares of the public limited company named "GREENHILL VOULA ESTATES REAL ESTATE AND CONSTRUCTION PUBLIC LIMITED COMPANY," with the trade name "GREENHILL VOULA," for a total price of sixty-seven thousand six hundred euros (€67,600).

GREENHILL VOULA holds 100% ownership of a plot of land measuring 7,328.48 m², located in the Pygadakia area of the Municipality of Vari – Voula – Vouliagmeni, on which an unfinished residential complex is being constructed. This transaction completes the process of acquiring full control of the property in the Pygadakia area of the Municipality of Vari – Voula – Vouliagmeni.

Thank you!

20 Solomou St., Alimos, 174 56, Athens, Greece

www.techol.gr

Technical Olympic Group of Companies