MIDI Plc — M&A Activity 2026

Feb 24, 2026

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Company Announcement

The following is a Company Announcement issued by MIDI p.l.c. (the "Company") pursuant to the Capital Markets Rules of the Malta Financial Services Authority ("MFSA").

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Class 1 Transaction

The Company entered into a promise of sale agreement dated 24 February 2026 (the "Agreement") with The 540 Hub Ltd a limited liability company with registration number C114936 (the "Purchaser") whereby the Company promised and bound itself to sell to the Purchaser, the temporary utile-dominium for the period remaining out of the original period of ninety nine (99) years which commenced on the 15 June 2000, of the building under construction known as the "T15 Building" at Tigne Point, Sliema (the "Property").

The Property forms part of the land originally granted by the Government of Malta to the Company by title of temporary emphyteusis for 99 years in virtue of a public deed of the 15 June 2000 in the records of Notary Vincent Miceli (the "Emphyteutical Deed"). It is accordingly subject to its pro-rate share of the overall annual ground rent burdening the land payable to the Government of Malta in terms of the Emphyteutical Deed and subject to any rights and obligations and any relevant terms and conditions and restrictions emanating from the Emphyteutical Deed.

The consideration for the sale and acquisition of the Property is five million five hundred thousand Euros (€5,500,000) payable in accordance with the terms of the Agreement, with the final payment to be made on the final deed of sale. The Agreement is subject to a number of conditions precedent which need to be satisfied prior to the execution of a final deed of sale and transfer of the Property. In the event that these conditions are not satisfied, the Agreement will lapse and neither party will be bound to execute the final deed of sale.

The Agreement shall remain valid and eƯective up to 30 June 2026.

The Property is currently under construction and hence no rental income is accruing from the said Property. Upon publication of the final Deed of Sale, the Property will no longer form part of the Group's property portfolio.

It is intended that the net sale proceeds of the Property will be applied towards the redemption of the Company's €50 million bond which is due in July 2026.

Notary Dr Sam Abela has been appointed to register the Agreement with the Commissioner for Revenue.

For the sake of good order, Capital Markets Rules 5.164.5, 5.164.8 and 5.164.9 are not applicable to this transaction.

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Catherine Formosa Company Secretary

24 February 2026