Operational Update on Senegalese Subsidiary

6 May 2025

Eco Buildings Group PLC

("Eco Buildings" or the "Company")

Strategic Milestones in Senegal JV and EPC Contractor Deployment

Highlights

• EPC contractor appointed to deliver Senegal production line as part of global expansion

• €1.75M investment from G2 Invest into Eco Buildings Senegal confirmed

• Visit to Albania by G2 Invest CEO Elhadji Boudy Sarr marks operational alignment

• Training of Senegalese team underway; EPC site planning visits scheduled

Eco Buildings Group plc, a UK-listed modular construction company, is pleased to provide an operational update on its newly formed Senegalese subsidiary, Eco Buildings Senegal LLC ("Eco Senegal"), a joint venture with local partner G2 Invest Group.

Following the signing of a memorandum of understanding with G2 Invest, a Dakar-based facilities management and logistics leader with over 2,000 staff, a significant milestone has now been reached: G2 Invest has formally committed to a €1.75 million investment for a 35% stake in the project. These funds will directly support the installation and activation of a new modular construction line in Senegal.

In parallel, Eco Buildings has now formally appointed a leading Engineering, Procurement, and Construction (EPC) contractor to manage the end-to-end implementation of the Senegal production facility. This EPC contractor, with a workforce of over 500 and a processing capacity of up to 700 tonnes of steel per month, brings proven expertise in delivering complex modular construction capabilities at scale.

A senior delegation from G2 Invest, led by CEO Elhadji Boudy Sarr, recently visited Eco Buildings' production site in Albania. The visit reinforced alignment between both partners and enabled hands-on collaboration on factory setup, technology transfer, and workforce training. As part of this strategic roll-out, a structured training programme for the Senegalese technical and operations team is now underway. Planning visits to the EPC contractor's facility have also been scheduled to finalise site readiness for Senegal's production launch.

Sanjay Bowry, CEO of Eco Buildings Group plc, commented:

"This momentum in Senegal reflects the operational acceleration of our global strategy. From appointing a highly capable EPC contractor to receiving the committed €1.75 million from G2 Invest, we are now entering the execution phase. The visit of Mr. Sarr and his team to Albania shows the strength of our partnership and the readiness of our ecosystem to deliver modular housing at scale in West Africa."

Elhadji Boudy Sarr, Managing Director of G2 Invest Group, added:

"Our visit to Albania confirmed the strength of Eco Buildings' production model. We are proud to bring this proven solution to Senegal, supported by a world-class EPC contractor and a clear operational roadmap. Together, we are building a foundation for affordable, efficient, and sustainable housing in the region."

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About Eco Buildings Group plc

Eco Buildings is a leading innovator in prefabricated, green housing products, leveraging proven technology based on GFRG panels. Our modular housing solutions cater to both affordable and high-end housing markets, combining cost efficiency, speed of construction, and sustainability. With a growing portfolio of international projects, Eco Buildings is dedicated to redefining construction for the future. 

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

For more information contact:

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 walls ("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.