Frigoglass Group completes sale of Beta Glass to Helios Investment Partners

London, UK – 6 February 2026.  Frigoglass Group (the “Company” or the “Group”) today announces the successful completion of the sale of its Nigerian Glass business, to Helios Investment Partners (acting on behalf of the funds it advises). This follows announcement of the agreement in December 2025, with the relevant and customary regulatory approvals now complete.

Following a competitive process, the Company entered into an agreement to sell the entirety of its shareholding in Frigoinvest Nigeria Holdings B.V., the holding company of its Nigerian Glass business (including Beta Glass plc and Frigoglass Industries Nigeria Limited), which comprise the Group’s glass container, plastic crates, and metal crowns manufacturing activities for a consideration of approximately €100 million, to Helios Investment Partners (acting on behalf of the funds it advises).

This is the latest milestone in the three-year transformation process of Frigoglass Group enabling the return of capital to its noteholders who have remained highly supportive since the company’s April 2023 restructuring.

The Company intends to use the net proceeds of the sale to (i) redeem in full its 4.00% Cash Interest and 11.50% PIK Interest Senior Secured Notes due 2028 issued on 31 October 2024 (the “Original Super Senior Notes”), (ii) redeem in full its 4.00% Cash Interest and 11.50% PIK Interest Senior Secured Notes due 2028 issued on 18 December 2025 (the “Additional Super Senior Notes”) and (iii) redeem a portion of its 4.00% Cash Interest and 7.00%/8.00% PIK Toggle Interest Senior Secured Notes due 2028 (the “Senior Secured Notes”). The Company expects to issue formal notices of redemption to holders of each of the Original Super Senior Notes, the Additional Super Senior Notes and the Senior Secured Notes on or around the date hereof, which will set out the relevant details for each redemption.

Gagik Apkarian, Founder and Managing Director of Tetrad Capital Partners and Chairman of the Frigoglass Group said: “This significant milestone is the culmination of nearly three years of intensive and multi-disciplinary transformation and growth across the Company’s various divisions that we embarked on in April 2023 post Frigoglass Group’s balance sheet restructuring. We have worked hard in collaboration with Beta Glass’ management team and board to enable the company to deliver record performance in 2025. As a result of this transaction we are now able to return capital to the Group’s bondholders as well as to continue investing and further accelerating the performance of Frigoglass’ commercial cooler business that has been posting its own record results. I am confident that with the foundation we have put in place at Beta Glass it will achieve ever greater heights going forward.”