Cairo Mezz : COVID-19 impact

Nicosia, December 15, 2020

ANNOUNCEMENT

UPDATE ON THE IMPACT OF THE COVID-19 PANDEMIC

Cairo Mezz Plc ("Company") holds mezzanine and junior notes issued by the special purpose companies that own the Cairo Portfolio1 ("Notes"). Its revenues are exclusively linked to the loans included in the Cairo Portfolio, hence to receivables from non-performing exposures. Given that the payment of the receivables from the Notes follows the full repayment of the receivables from the senior notes, the pandemic may affect the timing of the Company's revenues.

The Company does not have any right on the formulation or implementation of the Cairo Portfolio business plan, hence cannot affect its revenues. Consequently, the potential impact of the pandemic will be reflected in the fair value of the Notes that will be calculated as of 31 December 2020, based on the business plan that the servicer of the Cairo Portfolio will provide. The valuation will be performed in accordance with generally accepted principles and methods followed internationally that are deemed appropriate for the specific case and it will be based on cases, assumptions, and forecasts, which depend on economic conditions and the conditions of the financial and other markets.

Given that the payment of the receivables from the Notes follows the full repayment of the receivables from the senior notes, the key financial information of the Company for the third quarter of 2020 and cumulatively since its incorporation is presented below:

(amounts in euro)	Third quarter 2020	15.01.20 - 30.09.20
Revenue	0	0
EBITDA	(86,646)	(123,052)
Net loss for the period	(86,646)	(123,052)
Investments in FV through P&L		56,017,137
Shareholders' Equity		57,368,958

1 Cairo Portfolio means the mixed portfolio of non-performing loans with a total gross book value of €7.5 billion, which was transferred in June 2019 by Eurobank Ergasias S.A. to the special purpose companies Cairo No. 1 Finance DAC, Cairo No. 2 Finance DAC, and Cairo No. 3 Finance DAC, whose registered offices are in Ireland ("Issuers")