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                                                                                                                            7 March 2022

Cindrigo Holdings Limited

('Cindrigo' or the 'Company')

Events in Ukraine

Further to the announcement of 24^th February 2022 the Company wishes to announce that, with regret, as a consequence of the dreadful events in Ukraine following the invasion by Russia, its proposed waste to energy project in Kiev, the capital city of Ukraine, has been suspended. The Company is not deserting Ukraine or its consultants based in that country and once political stability has returned it hopes to continue with its projects in the country. In the interim the Company will provide such assistance as it is able to ensure the safety of its consultants in Kiev.

The Company has, since the summer of 2021, been seeking to diversify its project portfolio away from reliance on WtE projects in Ukraine and in particular, as previously announced, has been investigating projects in the geothermal sector through the potential acquisition of 100% of Energy CoInvest Global Corp (ECG). Due diligence is in its final stages and, subject thereto, the Company expects that the option for such acquisition will be exercised in the near future adding the assets of ECG in the geothermal sector to the Company' portfolio.

The Company intends to continue the process that should lead to an application for readmission of its issued share capital to the Official List and to trading on the Main Market of the London Stock Exchange with a Standard Listing. The prospectus required for that process is currently being revised to take account of the circumstances set out above and will be submitted to the FCA as part of the ongoing prospectus approval process and the assessment by the FCA of the Company's eligibility for relisting. Further announcements concerning readmission and the cancellation of the Company's existing listing will be made when appropriate.

**ends**

For more information visit www.cindrigo.com or enquire to: