APF Holdings
Announcement from First North

Alūksnes Poultry Farm to Invest 2.7 Million Euros in the Construction of Two New Laying Hen Houses

SIA Alūksnes putnu ferma, a company of the AS APF Holdings (hereinafter - APF) group, has signed a contract with the construction company SIA Aimasa and will invest 2.728 million euros in the construction of two new laying hen houses, where the hens will be kept cage-free, ensuring the highest welfare standards. SIA Aimasa was selected through a competitive tender process with the best economic offer. It is expected that the first of the new laying hen houses will be commissioned by the end of this year, and the second by April next year.

The total area of the new laying hen houses will be approximately 4,700 m² and once the new houses are operational, APF will have a total of five hen houses. With the two new hen houses, the APF egg production capacity will increase by 73 million eggs per year and the total annual egg production capacity will be 180 million eggs.

"With the construction of the new hen houses, we will significantly increase APF's production capacity. We are rapidly moving towards implementing our investment plans, which we announced during our initial public offering last year when we presented our development strategy to investors. The new laying hen houses will be among the most modern in Europe, allowing us to strengthen APF as a modern, sustainable producer offering eggs from cage-free hens in both the Baltic and export markets. There is a shortage of cage-free eggs in the European and Baltic markets, and APF will capitalize on this opportunity," says Jurijs Adamovičs, Chairman of the Board of AS APF Holdings.

SIA Aimasa was selected as an experienced builder specializing in industrial buildings. Aimasa has completed more than 300 projects across Latvia, including various factories, warehouses, logistics parks, shopping centers, and power plants. Aimasa has also successfully worked on public building projects, such as the Rūjiena Open-Air Stage and the reconstruction of Vidzeme and Dobele hospitals. Aimasa also built APF's third laying hen house, which was highly praised in the Latvian Construction Annual Award 2021 competition, receiving 3rd place in the Factory category.

Sandris Apsīts, Chairman of the Board of SIA Aimasa, expressed gratitude for the continued collaboration with SIA Alūksnes putnu ferma. "Our previous cooperation with SIA Alūksnes putnu ferma has been successful, and we are pleased to continue working on the new project. I believe that the nearly 20 years of experience of the Aimasa team in the construction industry, along with our available resources and high standards, will ensure timely and high-quality project implementation."

 About APF Holdings:

APF Holdings (NASDAQ: EGG) is a dynamic group of companies engaged in poultry farming, chicken egg production and trading, as well as gas and organic fertilizer production related to poultry farming processes. Our portfolio includes SIA Alūksnes putnu ferma (poultry farming and egg production), SIA APF Trading (wholesale trade in chicken eggs), SIA Oluksne (providing poultry farming and egg production services), SIA APF Energy (gas and organic fertilizer production), and SIA Preiļu putni (poultry farming and young chicken rearing). Founded in 2017, APF Holdings has become a leading player in the Baltic region's poultry and egg industry.

         For further information, please contact:
         Jana Garanča
         Marketing and Digital Projects Manager
         APF Holdings
         M: +371 26408922
         E: jana.garanca@apfholdings.lv
         
         Certified Adviser:
         Signet Bank AS
         Contact Person: Kristiāna Janvare
         T: +371 67 081 128
         E: Kristiana.Janvare@signetbank.com