MIDI plc - Update on Manoel Island

On 9 June 2025, MIDI plc announced that while it remains fully compliant with its obligations under the existing Deed of Emphyteusis relating to the Manoel Island project, it is prepared to engage in constructive discussions with the Government to review the future of the Manoel Island project, guided by a commitment to protect public interest and the company’s shareholders and bondholders.

MIDI explained that it recognises that the Government underscored its desire to convert Manoel Island into a national park. In light of this shift in Government’s policy direction, the company is open to reaching an agreement that reflects the current national priorities which are clearly different from those prevailing when the concession was granted.

MIDI concluded that it is committed to continue to act in good faith to find a solution in order to implement Government’s stated objective for Manoel Island to revert to Government.