Pursuant to the provisions of the Rules of the Ljubljana Stock Exchange, d. d., Articles 124 and 130 of the Financial Instruments Market Act (ZTFI-1, Official Gazette of the Republic of Slovenia, No. 77/2018) and Articles 7 and 17 of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation - MAR), CINKARNA Celje, d.d., Kidričeva ulica 26, 3000 Celje publishes a business report for the first three months of 2024.

The report was discussed by the company's Supervisory Board at its regular meeting on 15 May of 2024.

Sales are lower by 5%, which is mainly influenced by lower average selling prices of titanium dioxide pigment. Demand for pigment, however, improved on the back of restocking and congestion in the Red Sea. For the second quarter of 2024, we anticipate an increase in the average selling price and an improvement in the margin compared to the first quarter. Events in the second half of the year will mainly be marked by the decision of the European Commission regarding the anti-dumping procedure.

Net profit amounted to €1.3 million, 66% lower than the €3.8 million achieved in the corresponding period of the previous year. EBITDA, amounted to €4.7 million, representing 10% of sales. Compared to the previous year, EBITDA is down 41%.

The report has been published and will be available on the company's website www.cinkarna.si for at least 5 years.