Attica Bank S A : Completion of Omega Securitization

Announcement 20.09.2021

Completion of Omega Securitization

Attica Bank S.A. ("Attica Bank") informs its investors that it has entered into legally binding documentation in relation to the securitization of the "Omega" Portfolio of Non-Performing Loans with a gross book value of EUR 1.285bln and the subsequent issuance of the following Notes:

• Class A Omega Senior Note for an amount of EUR 630mln
• Class B Omega Mezzanine Note for an amount of EUR 70mln
• Class J Omega Junior Note for an amount of EUR 585mln

Upon the completion of the aforementioned transaction, Attica Bank will retain the entire amount of the Class A Senior Notes, while 95% of the Class B Mezzanine Notes and 95% of the Class J Junior Notes will be sold to funds nominated by Ellington Solutions which is a prominent firm affiliated with investors with extensive track record in asset-back securities.

The transaction marks the completion of the previous "Artemis" securitization, since the remaining Artemis Non-Performing Loan Portfolio (EUR 985mln) combined with an additional amount of EUR 330mln of Non-Performing Loans have been migrated in the Omega Portfolio. Upon approval of the supervisory authority, Attica Bank will proceed with de-consolidation and de-recognition of the Omega Portfolio and further enhance its balance sheet.

Following the Asset Quality Review (AQR) conducted on the Bank (2015), Attica Bank has proceeded with securitization transactions with a gross book value of EUR 3bln in total, thus completing the cleaning of its balance sheet from Non-Performing Loans. More specifically, and subject to the successful completion of "Astir 1" and "Astir 2" securitization transactions, Attica Bank implements its strategic goal of definitively addressing the issue of non-performing loans.

Moreover, following the settlement of the aforementioned transaction, Attica Bank will proceed towards obtaining the minimum required credit rating on the Class A Senior Note, in order to include the securities in the State Guarantee Program for senior bonds of securitized loans, "HERCULES II". The inclusion of the Omega Senior Notes into the Hercules State Guarantee Program is part of Attica Bank's Management strategy towards increasing its capital adequacy at sufficient levels in order to support its loan portfolio growth and further expand its activities.

StormHarbour Securities LLP acted as the Omega transaction Arranger and Lead Bookrunner, while Orrick Herrington & Sutcliffe LLP acted as English Law legal advisor and Sardelas Petsa Law Firm as Greek Law legal advisor to Attica Bank.

ATTICA BANK S.A.