Main Street Complex Plc — Earnings Release 2018

Jan 17, 2019

COMPANY ANNOUNCEMENT

Main Street Complex p.l.c.

2018 performance update

Date of Announcement 17 January 2019 Reference No: 07/2019

QUOTE

The following is a Company Announcement issued by Main Street Complex p.l.c. ("the Company") pursuant to Chapter 5 of the Listing Rules.

In terms of Chapter 5 of the Listing Rules

The Company hereby announces that footfall at Main Street Shopping Complex in Paola (the "Complex") for the year 2018 exceeded 840,000 visitors. This is the highest footfall ever recorded by the mall since its opening in 2004. This excellent result stems from consistent monthly increases during the last five months of the year and is attributable to a number of different factors, including the mix of tenants, the various initiatives taken by the Company to enhance the customer experience at the Complex, and the completion of the Antoine De Paule Square project which has further increased the appeal of this popular shopping destination.

Occupancy levels stood at 96% as at the end of 2018. The Company aims to secure full (100%) occupancy of the Complex in the course of 2019, seeking suitable operators that would enhance the tenant mix within the Complex. Key management decisions have mitigated the effect of any revenue shortfall from the unoccupied area, such that company earnings for the year are largely expected to be in line with budget.

The Company also notes that it has recently completed its investment in a photovoltaic panel system, through which the Complex is expected to derive most of its own energy usage as well as contribute to the national grid.

UNQUOTE

By order of the Board.

Dr Malcolm Falzon Company Secretary