Statement from Forest Club Varna Ltd

Dear Clients and Partners,

In light of the recent developments surrounding the Forest Club complex and the information circulating in the media, we consider it our responsibility to inform you of the actions we have taken.

We, Forest Club Varna Ltd, acting as the investor and developer of the projects, have submitted objections within the legally prescribed deadline against all official inspection reports issued concerning the buildings within the complex.

This is a standard procedure provided for by the applicable urban planning legislation, which grants us the right to defend our position and present all available documents and evidence. We believe in the rule of law and in the transparency of the process.

Our objections have been duly documented and are based on the official documents issued by the competent authorities that are in our possession.

We continue to cooperate fully with the relevant institutions and remain ready to present all facts before the competent authorities so that the matter may be resolved in accordance with the law.

We would like to thank all our clients for their trust and understanding. We will continue to keep you informed of all further developments.

The Forest Club Varna Ltd Team