Eco Buildings Secures over €400m Chile Contract

Certain information contained within this Announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 ("MAR") as applied in the United Kingdom. Upon publication of this Announcement, this information is now considered to be in the public domain.

21 October 2025

Eco Buildings Group PLC

("Eco", "Eco Buildings" or the "Company")

Eco Buildings Secures over €400m Chile Contract

Highlights

·    Landmark agreement to manufacture and supply 20,000 homes in Chile under the Government's flagship social housing programme.

·    Approximately €420 million gross revenues over seven years, with Government-backed payment structure.

·    First 607-house tranche funded with 50% deposit of €12.75 million.

·    Establishes Eco as a key provider in Chile's housebuilding programme.

Eco Buildings Group PLC ("Eco Buildings" or the "Company"), the UK-listed modular housing innovator (AIM: ECOB), is pleased to announce that it has signed a landmark agreement with the authorities in Chile to deliver 20,000 high-quality modular homes under the Chilean Government's flagship social housing programme. The approximately €420 million contract spans seven years and marks Eco's transition from certification to full-scale commercial rollout in Latin America.

Background

In July 2023, Eco initiated the rigorous two-tier approval process in Chile, one of the most stringent in Latin and Central America. Following successful completion of all required testing and acoustic and insulation validations, Eco has now achieved full certification, joining a select group of approved building systems in the country.

As previously announced on 3 March 2025, Eco constructed demonstration homes in Melipilla (Metropolitan Region) and Valparaíso, two strategically important areas near Santiago. These show homes were visited by senior Government officials, parliamentarians and municipal leaders, allowing them to assess first-hand the quality, speed and aesthetics of Eco's technology.

Following these visits and town hall allocation meetings, the first tranche of 607 homes has already been designated to beneficiary families. It is expected this initial tranche will be delivered during the course of 2026 and is fully costed by a 50% deposit of €12.75 million, in line with Chile's government payment framework. By the seventh year of the contract, the Company is expected to be delivering up to 5,000 homes per year.

Under the terms of the agreement, Eco will supply 20,000 homes over seven years, generating approximately €420 million in gross revenues. To deliver this efficiently, Eco will deploy a new manufacturing line in Chile, leveraging its fully automated GFRG (glass fibre reinforced gypsum) panel technology. Factory installation is planned for Q2 2026.

The Chilean Government's long-term programme targets 250,000 homes nationwide. With certification achieved and commercial rollout underway, Eco is well positioned to become a long-term partner in addressing Chile's social housing deficit. The Board anticipates replicating this model across Latin America.

Chile's social housing programmes are delivered through a structured framework involving EGIS (Social Housing Management Organisations) and SERVIU (the national housing authority). More than 370 EGIS entities coordinate technical and social aspects, site selection, design, and contracting. This decentralised model allows private companies like Eco to integrate rapidly into national programmes while maintaining rigorous oversight and payment security.

Structured Payment Framework

The contract is governed by Chile's Ministry of Housing administrative procedures framework (Resolution 1439, DS No. 49 (2011)), which establishes the mechanism by which Housing Association companies supervise and fund the development of social housing programmes.

Under this framework, Eco, as the manufacturer of industrialised housing components, is entitled to receive advance payments of up to 50% of the contract value for each lot, with the balance payable upon delivery and on-site verification by the national housing authority (Serviu).

Each of the multiple lots within the 20,000 home programme will be contracted and funded individually, with 50% deposits lodged directly with Eco at the commencement of each lot. This structure provides payment security, predictable cash flows, and minimal working-capital exposure over the seven-year programme.

Dr Etrur Albani, Executive Vice-Chairman of Eco Buildings, commented:

"Securing our first project in Latin America represents an important milestone for Eco Buildings and demonstrates the scalability of our revolutionary technology across new markets. Chile provides a strong regulatory framework and a strategic entry point into the wider region.

Our focus is on delivering high-quality, sustainable and affordable housing through an efficient, industrialised approach. We believe our technology can support governments and developers in accelerating housing delivery across Latin America in a cost-effective and environmentally responsible way."

Eco anticipates announcing further joint venture arrangements, in line with those previously disclosed in regions such as Senegal and Sudan.

Eco's GFRG walling system has been analysed against ACI 318-08 standards, demonstrating ductility, axial load capacity and shear performance suitable for seismic regions. Reinforced panels achieve axial load capacities up to four times higher than unfilled panels, with shear strengths exceeding 45 MPa in representative calculations, confirming the system's structural integrity and seismic resilience.

Notes

·    Eco's technology is based on large-format, glass fibre reinforced gypsum (GFRG) panels, enabling faster, cheaper, greener construction compared to conventional methods.

·    The certification obtained in Chile is recognised regionally, providing a platform for expansion into neighboring countries with lower regulatory barriers.

·    Eco already has contracts in Albania and Kosovo, generating €114 million in expected revenues over three years, and is advancing multiple pipeline opportunities globally.

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

For more information contact:

Eco Buildings Group plc
Dr Etrur Albani, Executive Vice Chairman
Fiona Hadfield, Finance Director
Tel: +44 (0) 207 380 0999

Spark Advisory Partners Limited (Nominated Adviser)
Matt Davis / James Keeshan
Tel: +44 (0) 203 368 3550

Tavira Securities Limited (Broker)
Oliver Stansfield / Jonathan Evans
Tel: +44 (0) 203 192 1739

CMC Capital Markets (Joint Broker)
Tel: +44 (0) 203 003 8632