About the performance of the statutory audit of Aktsiaselts Silvano Fashion Group

Silvano Fashion Group AS

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On 03.09.2024 Aktsiaselts Silvano Fashion Group (hereinafter the Issuer) published stock exchange news about the partial performance of the statutory audit. According to the referred news the Issuer informed that it will perform the statutory audit of the annual report for the financial year ending on 31.12.2024 as required under the law and the rules of the Nasdaq Tallinn Stock Exchange partially - the annual reports of the Issuer’s subsidiaries will be audited separately pursuant to the laws of the jurisdiction of their residence but the consolidated annual report of the Issuer’s group proves to be impossible to audit. The news is available here: https://view.news.eu.nasdaq.com/view?id=bba0c1ce9e7b19954ef9cfd6e73e5efee&lang=en.

In the referred news it was referred that the Issuer will analyse alternative possibilities to provide additional assurances to the shareholders of the Issuer as a listed company.

Hereby the Issuer informs that it reached an agreement with Ernst & Young Baltic AS regarding the auditing of the Issuer’s group’s consolidated annual report for the financial year ending on 31.1.2.2024.