Cenergy Holdings announces that its US subsidiary, Hellenic Cables Americas, intends, subject
to a final investment decision, to build a new, state-of-the-art cable manufacturing facility in
Baltimore, Maryland, of approx. value $300 million.

In the context for this potential investment, Hellenic Cables Americas successfully applied to
the Department of Energy and received an allocation letter from the Internal Revenue Service,
granting its request for a Qualifying Advanced Energy Project transferable tax credit up to USD
58 million for its intended cables manufacturing facility in Baltimore, Maryland.
As a first step toward the implementation of this project, Hellenic Cables Americas intends to
acquire a 38-acre waterfront property at Wagners Point, Baltimore upon successful
completion of an extensive due diligence process during the last several months.

Subject to customary approvals, this transaction is expected to be completed within the next 8 weeks.
The new factory, which is contingent upon the final investment decision, will be dedicated to
manufacturing underwater and underground cables for Offshore Wind and Grid
Modernization applications. It will address the 21st century, growing energy transition market
with high-tech products made in a modern, clean, low-noise, ultra-low-emissions
environment.

Cenergy Holdings will keep the investment community informed of any significant
developments.