Company Announcements

12th November  2024

Eco Buildings Group plc

(the "Company" or the "Group")

Delegation from the Dominican Republic Visit

Eco Buildings Group plc (AIM: ECOB), the UK-listed modular housing company, is pleased to announce that a delegation from the Dominican Republic is today visiting Eco's factory in Albania to inspect the manufacturing facility and its products being up to 50% cheaper, two-thirds lighter and five times faster to build than conventionally built homes.

The delegation is headed by Minister Carlos Bonilla Sanchez  - the current Minister of Housing, Habitat and Buildings for the government and is the first step to provide much needed social housing for the Dominican Republic.

Eco Buildings is in detailed negotiations to provide modular houses in support of the development of large volumes  and expects to provide a further update in the near term.

As previously announced the manufactured building material (glassfibre reinforced gypsum wall - GFRG) has been fully tested and certified in Chile and as a result is accepted as an approved building material in a number of Latin American countries including the Dominican Republic.

Sanjay Bowry, CEO, Eco Buildings said, "We believe Eco Buildings produces the highest specification, lowest cost product in the market. Moreover, with the fully automated factory in full production, we welcome Minister Bonilla Sanchez whose visit to our factory to examine our compelling product and provide assurance over the security of supply is expected to lead to orders from his government.

We look forward to  updating the market on meeting the requirements of the social housing programme in the Dominican Republic.

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Further information is available on Eco Buildings website: www.eco-buildings.net

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Notes

The Company has acquired proven and innovative prefabricated technology which has been in development and commercial use since 2006. Eco Buildings' range of prefabricated, green housing products based on glass fibre reinforced gypsum panels ("GFRG") provides a construction solution for both affordable and high-end housing.

Eco Buildings has already secured two sales contracts with major construction companies, one in Albania, the other in Kosovo, which are expected to generate gross sales revenue of approximately up to €38 million in total per annum over the first three years (approximately €114 million in total) following Admission.

The market share for factory-based building technology is expected to grow significantly over the coming years as private developers and the public sector seek to address the substantial and growing deficit in housing stock and issues of construction cost, speed and quality and housing affordability.