Ekspress Grupp’s subsidiary Delfi Latvia facing contractual dispute regarding advertising sales

AS Ekspress Grupp informs that its Latvian subsidiary AS Delfi has received
notice that SIA Ekis & Co-Positioning and Consulting has filed an insolvency
application against Delfi in relation to a contractual dispute over advertising
services in news portal LA.lv.

Ekspress Grupp wishes to clarify that this is a standard commercial dispute
regarding contested invoices that should be resolved through normal legal
channels, not through insolvency proceedings. Delfi Latvia has legitimate
concerns and has requested verification of calculation methods used for
invoicing.

The amount of the claim in question is 200,000 euros. The dispute has no impact
on Delfi Latvia's everyday operations and this matter has no material impact on
the financial position or operations of Delfi Latvia or the broader Ekspress
Grupp. The management is taking appropriate legal steps to resolve this matter
dispute efficiently.

AS Delfi (Latvia) is an important part of the Baltic region's largest media
group. The company's revenue in 2024 was 5.5 million euros with a profit of
594,281 euros. The company fulfills all its contractual obligations, including
state-funded media projects.

Mari-Liis Rüütsalu
AS Ekspress Grupp, CEO
+372 512 2591
[email protected] (mailto:[email protected])

AS Ekspress Grupp is the leading Baltic media group whose key activities include
web media content production, and publishing of newspapers, magazines and books.
The Group also operates an electronic ticket sales platform and ticket sales
offices in Latvia and Estonia, offers digital outdoor screen service in Estonia
and Latvia. In addition, the Group companies organize conferences, trainings and
events mainly in Estonia and Lithuania but also in Latvia. Ekspress Grupp
launched its operations in 1989 and employs about 1000 people.