Assalamu Alaikum,

I write to you for the year ending June 30, 2023, which has experienced unprecedented challenges as the Bangladesh economy navigated a volatile foreign exchange regime and significantly affected by the Ukraine war. The fiscal year 2022-23 was a period marked by profound macroeconomic stress, which, unfortunately, took its toll on our bottom line. We acknowledge these setbacks and assure you that we are addressing them proactively.

The economic landscape of the year under review was marked by uncertainties, including disruptions from global events. Yet, we must emphasize that this period of adversity has not shaken our resolve. It has only reinforced our commitment to adapt, evolve, and emerge stronger.

In adversity, we see opportunity. As we move forward, we are charting a course towards recovery and sustainable growth. Our strategies are underpinned by prudent financial management, innovation, and the steadfast belief in the resilience of our business model. We are determined to harness the lessons learned during these trying times to make our operations more agile and our decision-making processes more robust.

The commitment of our talented team and your unwavering support as shareholders continue to be our greatest assets. We are actively exploring avenues for diversification and expansion, that align with our long-term vision and goals.

While challenges remain, we believe in the inherent strength of our company and its ability to navigate the dynamic business environment. Our unwavering focus remains on delivering value to you, our esteemed shareholders.

We appreciate your trust and patience as we work diligently towards restoring profitability and securing a brighter future. Together, we will emerge from this period of turbulence with renewed strength and determination.

M. Anis Ud Dowla

Chairman, ACI Group