Audit report and annual accounts of Plásticos Compuestos, S.A. for the year ended 31 December 2024 and management report.

OTHER RELEVANT INFORMATION

PLÁSTICOS COMPUESTOS, S.A.

1 April 2025

Pursuant to the provisions of article 17 of Regulation (EU) no. 596/2014 on Market Abuse and article 227 of Law 6/2023 of 17 March on Securities Markets and Investment Services, and concordant provisions, as well as Circular 3/2020 of 30 July 2020 on information to be provided by companies listed for trading on BME Growth, Plásticos Compuestos, S.A. (the "Company") hereby informs you of the following information:

• - Audit report and annual accounts of Plásticos Compuestos, S.A. for the year ended 31 December 2024 and management report.

• - Presentation of the Annual Results Report for the financial year 2024

In accordance with the provisions of BME MTF Equity Circular 3/2020, it is hereby expressly stated that the information provided herein has been prepared under the sole responsibility of the Company and its directors.

We remain at your disposal for any further clarification you may require.

In Palau-Solità i Plegamans (Barcelona), 1 April 2025.

Corporation Chimique International S.P.R.L.

P.P. Mr Ignacio Duch Tuesta

Chairman of the Board of Directors

Auditor's Report on the Annual Financial Statements issued by an Independent Auditor

PLÁSTICOS COMPUESTOS, S.A.

Financial Statements and Directors' Report for the financial year ended 31 December 2024

CALLEJO PATERSON SARA JANE - 02643098F

Firmado digitalmente por CALLEJO PATERSON SARA JANE - 02643098F

Fecha: 2025.03.11 13:02:49 +01'00'

EY

Ernst & Young, S.L. Torre Sarriá A Phone: 933 663 700

Avda. Sarria, 102 - 106 08017 Barcelona Spain

Fax: 934 053 784 ey.com

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AUDITOR'S REPORT ON THE ANNUAL FINANCIAL STATEMENTS ISSUED

BY AN INDEPENDENT AUDITOR

To the shareholders of Plásticos Compuestos, S.A.:

Report on the Annual Financial Statements

Qualified Opinion

We have audited the financial statements of Plásticos Compuestos, S.A. consisting of the Balance Sheet on 31 December 2024, the Income Statement, Statement of Changes in Equity, Cash Flow Statement and the Annual Report for the financial year ending on such date.

In our opinion, except for the effects of the findings described under Basis for the qualified opinion in our report, the annual Financial Statements attached hereto provide, in all significant aspects, a true and fair view of the Company's assets and financial position as at 31 December 2024 and of its profit or loss and cash flows for the financial year ended on said date, in accordance with the applicable regulatory framework for financial reporting (which is identified in Note 2 of the Annual Report) and, in particular, with the accounting principles and standards contained therein.

Basis for the qualified opinion

As described in Note 18 of the Annual Report included in the Financial Statements attached hereto, the "Deferred tax assets" heading in the Balance Sheet of 31 December 2024 (also attached hereto) includes tax credits for negative tax bases pending offsetting, timing differences and allowances for subsidies totalling €1,370K (€1,325K on 31 December 2023). Given the Company's recurrent losses, in accordance with the financial reporting regulatory framework in force, the conditions to record these assets are not met, the same as a year ago. As a result, the "Deferred tax assets" heading in the attached Balance Sheet of 31 December 2024 is overvalued by €1,370K (€1,325K on 31 December 2023) and the headings "Reserves" and "Year's profit/(loss)" are overvalued by €1,325K and €45K respectively (€1,317K and €8K on 31 December 2023). Our opinion upon auditing the Financial Statements for the previous year included a qualification for this finding.

We have carried out our audit in accordance with the current Spanish regulatory framework for audits. Our responsibilities in accordance with these standards are described below in the section Auditor's Responsibilities regarding the audit of the financial statements in our report.

We are independent from the Company in accordance with the required ethical standards, including those on independence, which are applicable to our audit of the Financial Statements in Spain as required by the regulatory framework for audits. In this regard, we have not provided services other than those of the audit and, in accordance with the provisions of the aforementioned regulatory framework, no situations or circumstances have compromised the required independence.

Registered Address: C/ Raimundo Fernández Villaverde, 65.28003 Madrid -Registered in the Companies House of Madrid, Volume 9,364 general, 8,130 of Section 3 in the Companies Register, Folio 6B, Page 87,690-1, entry 1. B-78970506.

A member firm of Ernst & Young Global Limited.

We consider that the audit evidence gathered provides a sufficient and appropriate basis for our qualified opinion.

Key findings from the audit

The key findings from our audit are the findings that, according to our professional opinion, were deemed critical in our audit on the Financial Statements for the reported period. These findings have been taken into consideration in the context of our audit of the Financial Statements as a whole, and in our opinion on said statements. We do not express a separate opinion on these findings.

Besides the findings described under Basis for the qualified opinion we have determined that the following findings are the key findings from the audit that should be included in our report.

Income recognition

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Description As explained in Note 4.k in the Annual Report, the Company recognises income upon fulfilling its performance duties by delivering the promised goods or services to its customers.

We have considered this a key finding in our audit as income recognition requires applying judgements to, among other aspects, appraise how much control is transferred to the customer over the goods or services promised and given the high volume of sales operations executed and the relevance of the amounts involved.

The information on the applicable measurement standards and the breakdown of the amounts are in Notes 4k and 21 of the Annual Report attached hereto.

Our reply With regard to this area, our auditing procedures have included these steps, among others:

•  Understanding the procedure followed by the Company's Management to recognise income and assess the design and implementation of the relevant controls established for this procedure.

•  Analysing, by means of mass data processing techniques, the correlation between the turnover and receivables and cash and banks.

•  Conducting analytical procedures on turnover and margins.

•  Carrying out operational cutoff procedures for a sample of revenue operations that took place around year-end to check that they were recorded appropriately based on the terms and conditions laid down in the contracts with customers.

•  Reviewing the breakdowns included in the Annual Report and assessing their conformance to the applicable financial reporting standards.

A member of Ernst & Young Global Limited.

Emphasis of Matter Paragraph

We wish to draw attention to Note 2.b of the Annual Report included in the Financial Statements attached hereto as it mentions the factors that could entail a risk to the going concern principle as well as the factors that mitigate such risks. Consequently, as mentioned in said note, the Financial Statements attached hereto have been prepared and approved by the Directors according to the going concern principle. Our opinion has not varied for this matter.

Other information: Directors' Report

Other information consists entirely of the 2024 Directors' Report which is prepared by the Company's Directors and is not an integral part of the Financial Statements.

Our audit opinion on the Financial Statements does not cover the Directors' Report. Our responsibility for the Directors' Report, in compliance with the regulations for audits, is to appraise and report the consistency of the Directors' Report with the Financial Statements, based on the knowledge about the Company obtained during the audit on said statements, and to appraise and report whether the contents and presentation of the Directors' Report conform to the regulations in force.

If, based on our work, we were to conclude that there are indeed material inaccuracies, we would be obliged to report them.

Based on our audit, as described in the previous paragraph, except for the material inaccuracy described in the paragraph below, the information in the Director's Report is consistent with the 2024 Financial Statements and its contents and presentation conform to the standards in force.

As described in the section Basis for the qualified opinion, there is a material inaccuracy in the Financial Statements attached hereto. We have concluded that this circumstance affects the Directors' Report in the same manner and to the same extent.

Responsibility of the Directors and the Audit Committee for the Financial Statements

The Directors are responsible for preparing the attached Financial Statements to express a true and fair view of the Company's assets, financial position and profit or loss in accordance with the regulatory framework for financial reporting applied to the Company in Spain, which is identified in Note 2 in the Annual Report attached hereto. They are also responsible for the internal controls deemed necessary to allow the preparation of financial statements without material inaccuracies due to fraud or error.

When preparing the Financial Statements, the Directors are responsible for the assessment of the Company's ability to continue as a going concern, reporting, as appropriate, any issues related to being a going concern and using the accounting principle of a going concern, unless the Directors intend to liquidate the Company or cease its operations, or there is no other realistic alternative.

The audit committee is in charge of overseeing the preparation and presentation of the Financial Statements.

A member of Ernst & Young Global Limited.

Auditor's responsibilities for the audit of the Financial Statements

Our objectives are to obtain reasonable assurance that the Financial Statements as a whole are free of material inaccuracies, due to fraud or error, and to issue an Auditor's Report that contains our opinion.

Reasonable assurance means a high degree of assurance, but does not guarantee that an audit conducted in accordance with the regulatory framework for audits in Spain will always detect a material inaccuracy if there is one. Inaccuracies may be due to fraud or error and are considered material if, individually or when taken as a whole, they can be reasonably expected to influence the financial decisions users make based on the Financial Statements.

As part of an audit in accordance with the current regulatory framework for audits in Spain, we apply our professional judgement and maintain an attitude of professional scepticism throughout the audit. Also:

•  We identify and assess the risks of material inaccuracy in the Financial Statements, due to fraud or error, design and apply audit procedures to deal with such risks and obtain sufficient and appropriate audit evidence to provide a basis for our opinion. The risk of not detecting a material inaccuracy due to fraud is higher than in the case of a material inaccuracy due to error, since fraud may involve collusion, forgery, deliberate omissions, intentional misstatements, or the circumvention of internal controls.

•  We learn about the internal controls that are relevant to the audit in order to design the appropriate audit procedures in view of the circumstances and not for the purpose of expressing an opinion about the effectiveness of the entity's internal controls.

•  We evaluate whether the accounting policies applied are appropriate and the reasonableness of the accounting estimates and the corresponding information disclosed by the Directors.

•  We decide whether the use, by the Directors, of the accounting principle of a going concern is appropriate and, based on the audit evidence gathered, we decide whether or not there is material uncertainty in relation to events or conditions that could produce significant doubts about the Company's ability to continue as a going concern. If we decide that there is material uncertainty, in our Auditor's Report we are required to draw attention to the relevant information disclosed in the Financial Statements or, if said disclosures are not adequate, to give a modified opinion. Our conclusions are based on the audit evidence gathered up until the date of our Auditor's Report. However, future events or conditions may cause the Company to cease being a going concern.

•  We evaluate the overall presentation, structure and contents of the Financial Statements, including the information disclosed, and whether the Financial Statements represent the underlying transactions and events in such a way that they manage to express a true and fair view.

We communicate with the Company's Audit Committee regarding, among other matters, the intended scope and timing of the audit and the significant findings from the audit, as well as any significant deficiencies in the internal controls that we identify in the course of the audit.

A member of Ernst & Young Global Limited.

We also provide the Company's Audit Committee with a statement assuring our compliance with the required ethical standards, including those of independence, and we reported to the Committee any matters that could be reasonably considered a threat to our independence and, where appropriate, the pertinent safeguards.

Among the findings reported to the Company's Audit Committee, we determine the most significant ones to the audit on the Financial Statements for the reported period, which are therefore the key findings from the audit.

We describe these findings in our Auditor's Report unless the legal or regulatory provisions prohibit public disclosure of the finding.

Report on other legal and regulatory requirements

Additional report for the Audit Committee

The opinion expressed herein is consistent with that stated in our additional report for the Company's Audit Committee dated 07 March 2025.

Hiring Period

The Annual General Meeting held on 21 June 2023 appointed us as auditors for a 3-year period from the year ended 31 December 2023.

[Catalan text]

ERNST & YOUNG, S.L.

ERNST & YOUNG S.L.

(Member of the Official Register of Auditors (R.O.A.C.) with number S0530)

[Illegible Signature]

2025 No. 20/25/00291 [Catalan text] EUR 96.00

Albert Closa Sala

(Member of the Official Register of Auditors (R.O.A.C.) No. 22539)

07 March 2025

A member of Ernst & Young Global Limited.

PLÁSTICOS COMPUESTOS, S.A.

Financial Statements as at 31 December 2024

Directors' Report 2024

(Stated in Euros)

(Stated in Euros)