CALVERT INTERNATIONAL REPORTS SIGNIFICANTLY INCREASED PROFITABILITY IN FIRST HALF OF 2023, ATTRACTIVE VALUE ACCRETION IN NEW BUSINESS MODEL

• Calvert International AG today published its consolidated H1 figures for FY 2023
• Total consolidated revenues for the first 6 months reach €2.3M, thus slightly above H1 2022
• Group's operating EBITDA is €1.42M, much higher than previous year (€ 0.21M)
• Guidance 2023: Revenues for FY2023 expected to exceed 2022 comparison figures
• Increased profitability: much higher profit for FY2023 expected, compared to FY2022
• Outlook for 2024: Attractive growth and value accretion in the company’s new investment holding business model

Frankfurt am Main, August 29, 2023 - Calvert International AG ("CIAG"; ISIN DE000A2YN5X9) has published its unaudited consolidated interim financial statements for the first half of 2023. Total consolidated revenue for the first 6 months of FY 2023 stood at €2.3M, which is slightly above previous year’s €2.2M. Annualized consolidated revenue is expected to be above €4.0M, reflecting an 11% increase from the year-ago comparison period (FY 2022: €3.6M). This positive trend is due to sturdy revenue growth from key accounts in light of a generally positive business environment across Africa.

The overall group's operating EBITDA came to €1.42M in the first half of 2023, which is far above previous year’s H1 EBITDA of € 0.21M. This massive improvement is due to a significant reduction in costs motivated by long term partnerships, and the acquisition of assets which were previously leased. Accordingly, and based on current profitability, EBITDA for fiscal year 2023 is expected to be above €2.5M, that being significantly higher than the comparative figure for the previous year (2022: €0.16M).

OUTLOOK: ATTRACTIVE GROWTH & VALUE ACCRETION IN THE NEW INVESTMENT HOLDING BUSINESS MODEL.

For the second half of 2023 and 2024, CIAG management expects further strong consolidation moves in its business model realignment towards an African energy holding, mainly through anorganic growth in the form of M&A transactions. NJ Martin Ayuk, CEO of CIAG comments: “We currently have a strong deal pipeline of highly interesting investments with a strong presence in the African hydrogen and off-grid solar markets, serving as ideal building blocks for us to continuously form a strong energy holding, listed in Germany and active across Africa. CIAG welcomes investors to participate in the African energy growth story. In the second half of 2023, we aim to announce significant M&A deals to our shareholders and the investor community to solidify our vision of being an energy gateway to Africa for interested investors.”

SERVICE

The Annual General Meeting will be held in Frankfurt on 04 September 2023.

On the same day, the Executive Board will present the new business model to potential investors and analysts at the Equityforum autumn conference, which will take place on 04 and 05 September in Frankfurt.

ABOUT CIAG.

Calvert International AG (CIAG), ISIN DE000A2YN5X9, is an investment holding company focused on the African energy sector and headquartered in Frankfurt am Main. CIAG's shares are listed on the Duesseldorf Stock Exchange. CIAG currently operates as the management holding company of its subsidiaries Centurion Law Group in South Africa and Mauritius, providing mainly growth capital, management services and strategic advice to its subsidiaries. Centurion Law Group provides comprehensive professional services, in particular legal advice in all African jurisdictions around market entry and pan-African expansion strategies for private and public sector companies, with a focus on the African energy sector.

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Contact for investor relations and press inquiries:

Calvert International AG

Ms. Jessica Stang, Investor Relations

Opernplatz 14, 60313 Frankfurt am Main, Germany

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