Cleantech Building Materials: Capitalisation of Inter-Company Debt

26 May 2021

CLEANTECH BUILDING MATERIALS PLC, NASDAQ FIRST NORTH GROWTH MARKET, COPENHAGEN

TICKER:  CBM
ISIN: GBOOBVIVRR47

CLEANTECH BUILDING MATERIALS PLC

CAPITALISATION OF INTER-COMPANY DEBT

Cleantech Building Materials PLC (“CBM” or the “Company”) announces that it has reached an agreement with its subsidiary, Diamond Wood China Limited (“Diamond Wood”) to capitalise €9,661,496.53 of intercompany debt owed by Diamond Wood to CBM, which has resulted in the issue of 966,149,653 new shares in Diamond Wood at a nominal par value of €0.01 per share to the Company.

Following this debt conversion, the Company’s holding in the capital of Diamond Wood has increased from 97.44% to 98.74%.

On 31 March 2021 Diamond Wood announced the signing of a joint venture agreement and financing of approximately €48 million for the construction of the first Accoya^® Wood factory in Asia. Last week, Diamond Wood announced the signing of an investment agreement with the government in Nantong, China for the land, utilities and tax incentives for building a factory capable of producing up to 480.000 m³ of Accoya^® Wood.

THE DIRECTORS OF CLEANTECH BUILDING MATERIALS PLC ACCEPT RESPONSIBILITY FOR THE CONTENTS OF THIS ANNOUNCEMENT

Further information may be found at the Company's website at www.cbm-plc.com

Further Enquiries:

The information communicated in this announcement is “inside information” for the purposes of article 7 of the Market Abuse Regulation 596/2014.