Change of Director

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

8 March 2024

Minoan Group Plc("Minoan" or the "Company")

Change of Director

The Company announces that Professor George Mergos, for personal reasons, has resigned as a Director of Minoan and Chairman of Loyalward Limited, the Group's wholly owned subsidiary.

Professor Mergos joined the Board in February 2022 and the Board thanks him for his hard work in pushing forward the contract with the Foundation.

The Company has appointed a new external Greek advisory team and additional legal support to complete the negotiations with the Foundation and in preparation for the next stage in the development of the Project.

In the coming weeks the Company expects to make further announcements on board changes, including a new Chairperson of Loyalward, and on other matters, as it moves ahead with the Project as outlined in the Update provided on 5 January.

For further information visit www.minoangroup.com or contact:

Minoan Group Plc

Christopher Egleton christopher.egleton@minoangroup.com

W H Ireland Limited 020 7220 1666Antonio Bossi / Andrew de Andrade

Peterhouse Capital Limited 020 7469 0930

Duncan Vasey