Industrial Bulgaria : Subsidiaries part of the Industrial Holding Bulgaria Group concluded contracts for the purchase of three new-build 64,100 DWT bulk carriers

On 26 of June 2024, three contracts were signed in China with a seller: Sumec Marine Co.,Ltd. and New Dayang Shipbuilding Co.,Ltd., P.R. China for the construction of three new bulk carriers with a capacity of 64,100 DWT for the fleet of Industrial Holding Bulgaria, which will be acquired by the following subsidiaries of IHB - "Karia LTD", "Ticha LTD" and "Vaya LTD", (each from the Marshall Islands) - as buyers.

The delivery time and cost of the ships is as follows:

∙ the vessel to be acquired by "Vaya LTD" - delivery date 31 of October 2027 at a price of USD 35,150,000, plus sums for additional works assigned during construction, but not more than 5% of the value of the corporate guarantee;

∙ the vessel to be acquired by "Karia LTD" - delivery date 30 of April 2028 at a price of USD 34,600,000, plus sums for additional works assigned during construction, but not more than 5% of the value of the corporate guarantee;

∙ the ship that will be acquired by "Ticha LTD" - delivery date 31 of May 2028 with a price of USD 34,600,000, plus sums for additional works assigned during construction, but not more than 5% of the value of the corporate guarantee;

For the mentioned transactions and the conclusion of the contracts, the subsidiaries have received e prior approval from the Management Board of Industrial Holding Bulgaria, in accordance with the requirements of Art. 114, para. 3 and Art. 114a, para. 3 of the Public Offering of Securities Act (POSA). The Financial Supervision Commission is notified in accordance with the requirements of Art. 114a, para. 3 of POSA.

The entry into force of the contracts is subject to conditions that should be fulfilled within 45 days.

As part of the commitments under the contracts, on 26 of June 2024, Industrial Holding Bulgaria issued two corporate guarantees in favour of the seller, securing the commitments of "Karia LTD" and "Ticha LTD" to pay the amounts due under the respective contract. For the issuance of the guarantees on the basis of Art. 114, para. 1, item 2 of POSA was approved by the Regular Annual General Meeting of Shareholders, held on 25 June 2024.

According to the third contract with the buyer "Vaya LTD", a corporate guarantee will also be issued by IHB, and its issuance is subject to approval by an Extraordinary General Meeting of Shareholders convened for 19 of July 2024.

Maritime transport is one of the main segments in which IHB has invested and in which it has established market positions, accumulated experience and professional competences. The purchase of three newbuild vessels will expand the outlook for IHB's fleet and is expected to contribute to improving the sustainability of the Group's business.