NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO ANY JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT

21 March 2023

Malin Corporation plc

("Malin" or the "Company")

Acquisition of Tender Offer Shares

Further to its announcement of the results of its Tender Offer earlier today, Malin confirms that, under the terms of the Option Agreement, it has acquired from Davy 15,053,763 Ordinary Shares in the Company on Euronext Dublin, at the Tender Price of €9.30 per Ordinary Share, representing a total cost of approximately €140 million. The Ordinary Shares acquired by the Company are today being cancelled. The Ordinary Shares were originally purchased by Davy pursuant to the Tender Offer at the Tender Price.

The 15,053,763 Ordinary Shares acquired by the Company from Davy represented approximately 44.25% of Malin's Issued Ordinary Share Capital immediately prior to such acquisition. Following completion of the Tender Offer and the cancellation of 15,053,763 Ordinary Shares, Malin's issued ordinary share capital consists of 18,962,290 Ordinary Shares. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, Malin. The Company does not hold any shares in treasury.

Capitalised words and expressions in this announcement shall, unless the context provides otherwise, have the same meaning as in the shareholder circular published by the Company on 16 February 2023 (the "Circular").

For further information contact:

Malin

Gary Curran, Asst. Company Secretary ([email protected])

Andrea Stafford, Head of Finance ([email protected])

Tel: +353 (0)1 901 5700

Davy (Financial Adviser, Euronext Growth Listing Sponsor & Joint Broker)

Brian Garrahy / Daragh O'Reilly

Tel: +353 (0)1 679 6363

Liberum (Joint Broker)

Phil Walker / Ben Cryer

Tel: +44 (0) 20 3100 2000

Powerscourt (Media enquiries)       

Eavan Gannon

Tel: +353 87 236 5973                        

[email protected]   

Important Notices

This announcement does not constitute, or form part of, an offer or any solicitation of an offer, to purchase or repurchase securities in any jurisdiction or constitute a recommendation or advice in respect of any securities or other financial instruments or any other matter. Malin shareholders are advised to read carefully the Circular. Any response to the Tender Offer should be made only on the basis of the information in the Circular.

Davy, which is regulated in Ireland by the Central Bank, is acting exclusively for Malin and no-one else in connection with the matters described in this announcement. Davy will not regard any other person (whether or not a recipient of this announcement) as its customer or be responsible to any other person for providing the protections to customers of Davy nor for providing advice in relation to the transactions and arrangements described in this announcement. Davy is not making any representation or warranty, express or implied, as to the contents of this announcement. Davy has not approved the contents of, or any part of, this announcement and no liability whatsoever is accepted by Davy for the accuracy of any information or opinions contained in this announcement or for the omission of any information from this announcement.

Forward-looking Statements

This announcement contains certain forward-looking statements with respect to the financial condition, results of operations and business of the Group and certain plans and objectives of the Board, that are subject to risk factors associated with, amongst other things, the economic and business circumstances occurring from time to time in the countries, sectors and business segments in which the Group operates. These factors include, but are not limited to, those discussed in Part 4 (Risk Factors Related to the Tender Offer) of the Circular. These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. Forward looking statements often use words such as "anticipate", "target", "expect", "estimate", "intend", "plan", "goal", "believe", "will", "may", "should", "would", "could" or other words of similar meaning. These statements are based on assumptions and assessments made by the Board in light of its experience and perception of historical trends, current conditions, expected future developments and other factors it believes appropriate. By their nature, forward-looking statements involve risk and uncertainty, and the factors described in the context of such forward-looking statements in this document could cause actual results or developments to differ materially from those expressed in or implied by such forward-looking statements.

Should one or more of these risks or uncertainties materialise, or should underlying assumptions prove incorrect, actual results may vary materially from those described in this document. Malin assumes no obligation to update or correct the information contained in this document, whether as a result of new information, future events or otherwise, except to the extent required by law or the Euronext Growth Rules.

The statements contained in this announcement are made as at the date of this announcement, unless some other time is specified in relation to them, and publication of this document shall not give rise to any implication that there has been no change in the facts set out in this document since such date. Nothing contained in this announcement shall be deemed to be a forecast, projection or estimate of the future financial performance of Malin except where expressly stated.