Secured funding

We hereby inform that on 26.10.2023 SIN CARS Industry AD, following a decision of the Board of Directors, signed a credit agreement in the form of a revolving credit line for working capital with “Bulgarian Development Bank” EAD. The credit line is in the amount of up to BGN 3,900,000 (three million and nine hundred thousand BGN) with a 12-month repayment period starting from 26.10.2024. and with three extension options until 10/26/2027. The loan is entirely intended to provide working capital for the main activity of the Company, namely – for the production of electric cars with the L CITY brand.