Fortaco Group Holdco Oyj - Other information disclosed according to the rules of the Exchange

Supplementary information regarding Fortaco Group's call for a written procedure and preliminary financial information regarding the sale of heavy project business in Hungary

Fortaco Group Holdco Plc  |  Stock Exchange Release  |  24 May 2024 at 13.00
p.m. EET

On 10 May 2024, Fortaco Group Holdco Plc (“Fortaco” or the “Issuer”) announced
it had instructed the agent for the Issuer's senior secured bonds to initiate a
written procedure to request the bondholders to vote in favour of certain
transfers of value, granting of loans, releasing certain transaction security,
the disposal of certain assets being subject to transaction security under the
bonds and carrying out of certain mergers between members of the Group (the
“Written Procedure“).

Due to a reguest from certain bondholders, Fortaco publishes the following
preliminary financial information and other supplementary information regarding
the Written Procedure and the strategic evaluation of some of its businesses:

On 10 May 2024, Fortaco announced the sale of its heavy project business in
Jászberény, Hungary (Fortaco Zrt). The sale is part of the the strategic
evaluation of Fortaco's marine, energy, and heavy project businesses. The
estimated short-term negative cash-flow impact originating directly from the
sale of Fortaco Zrt is EUR 6.5 million. The business in Hungary has been clearly
loss making. During the last 12 months ending March 2024, the recurring EBITDA
and EBITA losses from this business amounted to EUR -3.9 million and EUR -5.0
million, respectively. Additionally, the incurred non-recurring costs amounted
to EUR 0.6 million during the same period.

Fortaco will record an impairment loss (non-cash item) of EUR 9.6 million in its
first quarter 2024 financials due to the classification of Fortaco Zrt to
consitute asset held for sale. The transaction is still subject to the approval
of Fortaco's bondholders and some customary closing conditions, and it is
expected to be closed by the end of June 2024.

As part of the strategic review and as announced in the release concerning the
Written Procedure, Fortaco is contemplating to divest some operating assets of
Fortaco Oy and certain non-core real estates in Finland. If completed, these
potential divestments are expected to generate positive, one-off cash proceeds
for Fortaco.

Fortaco will publish its January-March 2024 Business Review on 27 May 2024. Due
to the silent period, Fortaco will not give any further comments on this matter
before the publishing of Business Review.

Previous announcements

Fortaco's Stock Exchange Release (10 May 2024): Fortaco Group calls for a
written procedure

https://investors.fortacogroup.com/releases/fortaco-group-calls-for-a-written
-procedure/

Fortaco's press release (10 May 2024): Fortaco sells its heavy project business
in Hungary
https://investors.fortacogroup.com/releases/fortaco-sells-its-heavy-project
-business-in-hungary/

Fortaco's press release (28 February 2024): Strategic evaluation of Fortaco's
marine, energy, and heavy project businesses ongoing

https://investors.fortacogroup.com/releases/strategic-evaluation-of-fortacos
-marine-energy-and-heavy-project-businesses-ongoing/

For further information

Lars Hellberg

+358 40 572 9488

lars.hellberg@fortacogroup.com

Attachments:

05247923.pdf