Cyprus Forest Industries Public : Audited Consolidated and Standalone Financial Statements - 31.12.2021

CYPRUS FOREST INDUSTRIES PUBLIC LIMITED

ANNOUNCEMENT

29 April 2022

1. Approval of Audited Consolidated and Standalone Financial Statements for 2021

At its meeting held on 29 April 2022, the Board of Directors of Cyprus Forest Industries Public Ltd approved the Consolidated and Standalone Financial Statements for 2021. The Audited Consolidated and Standalone Financial Statements are attached hereto. The full and complete text of the Annual Report of the Company for 2021 (including the Directors' Report, the Audited Consolidated and Standalone Financial Statements, the Corporate Governance Report and the Auditors' Report for the year ended 31 December 2021) will not be sent to the shareholders, but can be obtained free of charge at the Company's registered office, 1, Ayias Sofias Str., 2682 Paliometoho, Nicosia, tel: [phone], fax: [phone], email:[e-mail] by sending an email to [e-mail]. The Annual Report and the information referred to in clause (4) of Article 127A of the Companies Law, Cap. 113 (the "Law") will also be available on the Company's website,www.cfi.com.cy.

2. Annual General Meeting - 8 July 2022

The Annual General Meeting will be held on Friday, 8 July 2022 at 3:00 p.m. at the Company's offices, 1, Ayias Sofias str., 2682 Paliometoho. The AGM notice will be posted to all the members of the Company.

3. Proposal for non-payment of dividend

The Company's Board of Directors decided to propose to the Annual General Meeting of 8 July 2022 the non-payment of dividend.

4. Appointment of new Auditors

The Board of Directors proposes to the Annual General Meeting of the Shareholders the appointment of new auditors based on the offers received on March 2022.

Yours,

ANTONIS A. KIMISHIS Secretary