MPEF I - 2024 Accounts Approved

We are pleased to inform you that the 2024 financial statements of the Mercan Private Equity Fund I (MPEF I) have been formally approved by its General Assembly of Participants held on April 30th, 2025.

This approval reflects the solid foundation and governance of MPEF I, highlighting the progress made throughout the past year and reinforcing the trust and transparency maintained with all stakeholders. The fund manager has already informed all participants of the outcome, ensuring alignment with investors’ expectations.

As the development partner of the hotel assets linked to MPEF I, Mercan Properties recognizes the significance of this milestone. It reflects continued progress across the portfolio and underscores our shared commitment to delivering long-term value to investors and stakeholders.

Project Milestones and Outlook

Key project milestones achieved in 2024 include the start of urban works and the progress on the licensing of the projects. Also, capital raising efforts are ongoing, and MPEF I already began its first investments with plans to continue investing throughout 2025.

Mercan’s Commitment

As the development partner of MPEF I’s underlying portfolio, Mercan Properties remains fully committed to supporting its long-term strategy through the timely execution of high-quality hospitality developments.

We continue to foster open and transparent communication with all stakeholders, building lasting partnerships and reinforcing MPEF I’s value proposition. Our focus is on delivering excellence while maintaining the confidence of our investor community through consistent and trustworthy engagement.

We thank all investors for their continued trust and partnership. For further updates and developments, we invite you to follow our news section or contact our Investor Relations team.

Thank you,

Mercan Properties Group