Vonpende Holdings PLC

Regulatory Filings • Dec 20, 2022

Attention of: Cyprus Stock Exchange ("CSE") Lordou Byronos Avenue 71-73 1096, Nicosia

20.12.2022

Dear Sirs,

SUBJECT: Letter by the CSE dated 07th of November 2022 addressed to VONPENDE HOLDINGS P.L.C. (the "Company") on the materialization of its business plan

By reference to your letter dated 07th of November 2022, the Company would like to inform its shareholders and the Cyprus Stock Exchange on the implementation of its business plan as outlined in the Company's Admission Document dated 20th December 2015.

Despite the ongoing global challenges due to the impact of the Covid-19 pandemic, and the conflict between Russia and Ukraine, the Company has diversified its priorities, focusing mainly on strategical investments, by investing additional funds into its subsidiaries for the replenishment of working capital required for their operating activities.

The Investment Committee of the Company having been furnished with professionals in the fields of finance, and real estate, is constantly evaluating new business opportunities for the Company, as well as strengthening its existing operations and those of its subsidiaries. The Investment Committee has approved major transactions involving the group of Companies.

During the second half of 2022, following a series of intra-group transactions, its subsidiary Elbridge Investments (Cyprus) Limited (hereinafter referred to as "ELCY"), acquired share participation in four additional investments in European and International private equity funds. ELCY, as the financing company of the Vonpende Group proceeded with further financing of two new real estate projects of the Group, currently funding the

Registration number 216944 | Registered address: Angelou Terzaki Street, 110, Office No.4, 2402, Egkomi, Nicosia, Cyprus = Trading office address: Office no. 306, Vesper floor, Akamantis Building, 10 Egypt Street, 1097, Nicosia, Cyprus = Tel: +357 22 029398 = Fax: +357 22 029399 = Email: corporate@vonpende.com.cy = www.vonpende.com.cy

construction of a new residential complex in Budapest, Hungary and a new real estate development in Alicante region in Spain.

ELCY is also financing, via joint venture, MODIVO S.A. (part of the well known eobuwie group), a polish based company, established in retail business with a revolutionary concept combining the physical store experience with digital shopping, the new "phygital" concept.

The Company remains loyal to its corporate social responsibility plan by sponsoring the 4th Photographic Competition 2022 organized by Kinanis LLC, which took place in June 2022, at Akamantis Business Center in Nicosia. The proceeds of the competition were donated to charitable foundation, "Iasoneio-Chromata Zois".

The Company is committed in enhancing its corporate growth to maximize its profits and returns for its shareholders. The Company continues to explore new investment and real estate opportunities to enhance its business operations.

■ Registration number 216944 ■ Registered address: Angelou Terzaki Street, 110, Office No.4, 2402, Egkomi, Nicosia, Cyprus ■ Trading office address: Office no. 306, Vesper floor, Akamantis Building, 10 Egypt Street, 1097, Nicosia, Cyprus ■ ■ Tel: +357 22 029398 ■ Fax: +357 22 029399 ■ Email: corporate@vonpende.com.cy ■ www.vonpende.com.cy