AX Investments plc – Application for Admissibility to Listing

AX Real Estate Limited, a subsidiary of AX Group p.l.c. is in the process of being converted into a public limited liability company “AXRE”. It intends to submit an application to the Malta Financial Services Authority, for authorization for admissibility to listing on the Official List of the Malta Stock Exchange of:

a class of shares in AXRE of a nominal value of €0.125, that is 33,333,333 ordinary ‘A’ shares of a nominal value of €0.125 per share which will be offered for sale to the public at an offer price of €0.60 per share, subject to an over-allotment option which, if exercised, would increase the offer to up to an aggregate of 50,000,000 ordinary ‘A’ shares (the “Share Offer”); and €40,000,000 in 3.5% unsecured bonds of a nominal value of €100 per bond to be issued at par by AXRE, redeemable in 2031 (the “Bond Issue”). The Share Offer and the Bond Issue are hereinafter collectively referred to as the “Combined Offer”.

As at the date hereof, the Combined Offer remains subject to the approval of the Malta Financial Services Authority.