New Order Update

Over €1M in Revenues Now Forecast for Year-End 2024

Eco Buildings Group plc (AIM: ECOB), the UK-listed modular housing company, is pleased to announce that it has received a preliminary order of 5,000 sqm of walling from R&T Sh.p.K. for installation as a permanent perimeter wall around a residential tourist site in Albania.

Eco is also in detailed negotiations to provide the buildings making up this development and expects to be able to provide a further update in the near term.

In addition, the Company has commenced deliveries of walling material from its fully operational factory in Albania to its customer who has placed an order for 25,000 sq. metres as announced last month. The balance of deliveries will continue over the coming months.

In addition, the Company already executed on three new orders for small structures which have already been delivered to the customer, with the last structure currently in final assembly stage. These dwellings include a 40 sqm single story office, a 25 sqm security guard block and a 120 sqm 2 storey laboratory currently being completed.

Accordingly, the Board can advise it is expecting to receive over €1,000,000 of revenues from the sale of Eco products between now and year end (being 31 December 2024).

Sanjay Bowry, CEO, Eco Buildings said, "We believe Eco Buildings produces the highest specification, lowest cost product in the market. Moreover, with the fully automated factory in full production, we can provide new customers visiting our factory with both a compelling product to examine and assurance over the security of supply, which is in turn expected to lead to further orders.

The demand, both locally in the Balkans and internationally, continues to reinforce our confidence in the Group's near- and long-term profitability.

Along with our management team and engineering specialists in Durres, we are focused on not just managing the Group's delivery schedule and growing order book, but also on how best to position the Company to efficiently capture the international joint venture opportunities emerging for us, as word spreads of the Eco housing solution.

We look forward to the future with great optimism, not only to meet near-term revenue forecasts, but also on leveraging the Company's efficient business model to realise emerging opportunities."

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.