CTS Regarding sale of subsidiary in Lithuania

On August 31, 2022 City Service SE (further – Company) through its Lithuanian subsidiary has signed share purchase - sale agreement on sale of UAB „Mano aplinka plius“, which operates in maintenance and cleaning of liquid fuel and liquefied petroleum gas tanks, surface sewage treatment equipment (oil traps), domestic sewage treatment equipment and biological treatment equipment (including grease traps) and related activities. The buyer of the sold company is not related Lithuanian company, acting in the same sector as the sold company.
The consolidated turnover of the sold company for financial year 2021, amounted to EUR 0,69 million, and EBITDA was EUR 0.159 million. This sale takes place as part of a strategic alternatives review process. This strategic review was launched to focus on the key strategic goal of the Company – concentration of Company’s core businesses – apartment and commercial buildings administration services.