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Publication of Financial Analysis Summary

The following is a Company Announcement issued by Endo Finance p.l.c., a company registered under the laws of Malta with company registration number C 89481 and having its registered office at 10, Timber Wharf, Marsa MRS 1443, Malta (hereinafter the “Company”), pursuant to the Listing Rules issued by the Listing Authority.

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Publication of Financial Analysis Summary

The Company hereby announces that the updated Financial Analysis Summary dated today, 14th June 2021 is available for viewing below as an attachment to this announcement and at the Company’s registered office, and is also available for download from the Company’s website: https://www.endofinance.com/.

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____________________

Dr Luca Vella Company Secretary

14th June 2021

Company Announcement: END27

Endo Finance p.l.c. – C 89481 10, Timber Wharf, Marsa MRS 1443, Malta – +356 22068000 – www.endofinance.com

FINANCIAL ANALYSIS SUMMARY

Endo Finance p.l.c.

14th June 2021

FINANCIAL ANALYSIS SUMMARY

Endo Finance p.l.c.

The Directors Endo Finance p.l.c., 10, Timber Wharf, Marsa, MRS 1443, Malta

14th June 2021

Dear Sirs,

In accordance with your instructions, and in line with the requirements of the Listing Authority Policies, we have compiled the Financial Analysis Summary (the “Analysis“) set out on the following pages and which is being forwarded to you together with this letter.

The purpose of the financial analysis is that of summarising key financial data appertaining to Endo Finance p.l.c. (the “Issuer“), and International Fender Providers Ltd (C 69877), IFP International Fender Providers Ltd (HE 348221), Endo Properties Ltd (C 13033) collectively (the “Guarantors“) and related companies within the group as explained in part 1 of the Analysis. The data is derived from various sources or is based on our own computations as follows:

  1. Historical financial data for the three years ending 31 December 2018, 2019, and 2020 has been extracted from the audited financial statements of the Issuer and the Guarantors.
  2. The forecast data for the financial year ending 31 December 2021 has been provided by management.
  3. Our commentary on the Issuer and Guarantors’ results and financial position has been based on the explanations provided by management.
  4. The ratios quoted in the Analysis have been computed by us applying the definitions set out in Part 4 of the Analysis.
  5. The principal relevant market players listed in Part 3 of the document have been identified by management. Relevant financial data in respect of competitors has been extracted from public sources such as the web sites of the companies concerned or financial statements filed with the Registrar of Companies.

The Analysis is meant to assist investors in the Issuer’s securities and potential investors by summarising the more important financial data of the Group. The Analysis does not contain all data that is relevant to investors or potential investors. The Analysis does not constitute an endorsement by our firm of any securities of the Issuer and should not be interpreted as a recommendation to invest in any of the Issuer’s securities. We shall not accept any liability for any loss or damage arising out of the use of the Analysis. As with all investments, potential investors are encouraged to seek professional advice before investing in the Issuer’s securities.

Yours sincerely,

_____________

Nick Calamatta Director

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FINANCIAL ANALYSIS SUMMARY

Endo Finance p.l.c.

Table of Contents

Part 1 – Information about the Endo Group …………………………………………………………………………………………………………..

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1.1

Issuer, Guarantors and Endo Group’s Subsidiaries Key Activities and Structure …………………………………………………..

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1.2

Directors and Key Employees ………………………………………………………………………………………………………………………..

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1.3

Major Assets owned by the Endo Group…………………………………………………………………………………………………………

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1.4

Operational Developments …………………………………………………………………………………………………………………………..

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Part 2 – Historical Performance and Forecasts ……………………………………………………………………………………………………….

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2.1

Issuer’s Income Statement ……………………………………………………………………………………………………………………………

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2.2

Issuer’s Statement of Financial Position………………………………………………………………………………………………………..

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2.3

Issuer’s Statement of Cash Flows …………………………………………………………………………………………………………………

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2.4

Guarantors’ Income Statement……………………………………………………………………………………………………………………

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2.5

Guarantors’ Statement of Financial Position………………………………………………………………………………………………….

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2.6

Guarantors’ Statement of Cash Flows …………………………………………………………………………………………………………..

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2.7

Endo Group’s Income Statement …………………………………………………………………………………………………………………

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2.8

Endo Group’s Statement of Financial Position ……………………………………………………………………………………………….

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2.9

Endo Group’s Statement of Cash Flows ………………………………………………………………………………………………………..

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Part 3 – Key Market and Competitor Data ……………………………………………………………………………………………………………

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3.1

General Market Conditions …………………………………………………………………………………………………………………………

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3.2

Time Charter Market ………………………………………………………………………………………………………………………………….

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3.3

Comparative Analysis …………………………………………………………………………………………………………………………………

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Part 4 –

Glossary and Definitions………………………………………………………………………………………………………………………..

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FINANCIAL ANALYSIS SUMMARY

Endo Finance p.l.c.

Part 1 – Information about the Endo Group

1.1 Issuer, Guarantors and Endo Group’s Subsidiaries Key Activities and Structure

The current Endo Group structure is as follows:

The “Endo Group” of companies consists of Endo Ventures Ltd being the “Parent” company of the Endo Group, the Issuer, the Guarantors, and Endo Tankers Ltd, which includes its subsidiaries Endo One Maritime Ltd, Endo Two Maritime Ltd, Endo Three Maritime Ltd, Endo Headwind Maritime Ltd, Endo Tailwind Maritime Ltd, Endo Sirocco Maritime Ltd and Intership Management Ltd. The objective of the Endo Group is to acquire, finance, manage and charter commercial vessels, in addition to providing ship-to-ship services.

Endo Ventures Ltd, company registration number C 86730, was set up on 11 June 2018 and acts as the parent company of the Endo Group. The Parent’s ultimate beneficial owners are: Mr. Christopher Frendo (40{de3fc13d4eb210e6ea91a63b91641ad51ecf4a1f1306988bf846a537e7024eeb} ownership), Mr. Nicholas Frendo (40{de3fc13d4eb210e6ea91a63b91641ad51ecf4a1f1306988bf846a537e7024eeb} ownership), Mr. Fredrick Frendo (10{de3fc13d4eb210e6ea91a63b91641ad51ecf4a1f1306988bf846a537e7024eeb} ownership) and Ms. Marianne Frendo (10{de3fc13d4eb210e6ea91a63b91641ad51ecf4a1f1306988bf846a537e7024eeb} ownership).

Endo Tankers Ltd (“Endo Tankers“), company registration number C 88663, was incorporated on 8 October 2018 and acts as a holding company of the “Endo Tankers Sub-Group“. The Endo Tankers Sub-Group is primarily involved in the acquisition, financing, management and chartering of commercial vessels. Endo One Maritime Ltd (“Endo One“), Endo Two Maritime Ltd (“Endo Two“), Endo Three Maritime Ltd (“Endo Three“), Endo Headwind Maritime Ltd, Endo Tailwind Maritime Ltd, Endo Sirocco Maritime Ltd and Intership Management Ltd are all wholly owned subsidiaries of Endo Tankers.

The Issuer, Endo Finance plc, company registration number C 89481, is a limited liability company registered in Malta on 20 November 2018. The Issuer is, except for one ordinary share, which is held by Christopher Frendo, and another ordinary share held by Nicholas Frendo, a wholly owned subsidiary of the Parent company of the Endo Group. The Issuer, which was set up

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Disclaimer

Endo Finance plc published this content on 14 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 June 2021 19:05:04 UTC.