Blue Island PLC

Business and Financial Review • Nov 5, 2015

Nicosia, 5th November 2015

Blue Island Plc: Interim Management Statement for the period 1 st of July 2015 to 30th of September 2015.

The unaudited Interim Management Statement of Blue Island Plc for the period from 1st of July 2015 to 30th of September 2015 is prepared according to Article 11 of the Transparency Law of 2007 and 2009 (L190(I)/2007 & 72(I)/2009).

Sales

Total consolidated sales during the period above were €4.143.632 compared to €4.116.008 during the respective 2014 period (increase: 0,7%).

The total consolidated sales for the period 1/1/2015-30/9/2015 were €13.532.252 compared to €11.782.626 during the respective 2014 period (increase: 14,8%).

Prospects

Sales for the remaining 2015, is anticipated to decrease by around 5% due to the fact that wholesale local demand as well as export demand will not have the same momentum as the first half of 2015.

As things stand now, it is anticipated that the consolidated sales for the entire 2015 compared to the consolidated sales of 2014 will be approximately 9% more.

Profitability

Profitability of the company for the whole 2015, is anticipated to be positive.

Investments

The investment spenditure program for the first nine months of 2015 were €332.269 (9 month 2014 investment spenditure: €309.442). Most of the investments in 2015 were done in the fish farming, processing and sales sectors of the company.

Main Risks and Uncertainties

The main risks that the company faces are the international and domestic price fluctuations due to the competition, the credit risk, the interest rate fluctuations, cash flow risks, as well as risks relating to loss of stocks in the fish farm due to severe weather conditions, malicious damages and/or illnesses..

All the above risks as well as other risks that the company faces, are fully explained in the Board of Directors annual report of the company for the year ended in 31/12/2014 (note 26, pg50).