Frigoglass I C : 15.12.2021 Resolutions and Voting Results of the Extraordinary General Meeting Athens, Greece, 15 December 2021 – Frigoglass S.A.I.C. (the “Company”) announces that the Extraordinary General Meeting of the Shareholders of

Frigoglass announces the reduction of its share capital through the reduction of the shares' nominal value for the purposes of offsetting losses

Athens, 28 December 2021 - Frigoglass S.A.I.C. ("Frigoglass" or the "Company") announces that the Extraordinary General Meeting of its shareholders held on December 14, 2021 - in order for the Company to meet the requirements of article 119 par. 4 of Law 4548/2018 - approved the share capital reduction of €14,217,510.04 through a reduction of the nominal value of each common registered share from €0.10 to €0.06 aiming at the formation of a special reserve of equal amount to offset losses.

In particular, the above amount of the reduction will be used:

1. by the amount of € 9,822,545.68 for the offsetting of accumulated accounting losses of the previous fiscal year (2020), and
2. by the amount of € 4,394,964.36 for the purpose of forming a special reserve for offsetting future losses, according to article 31 par. 2 of Law 4548/2018.

Following the reduction, the Company's share capital amounts to €21,326,265.06, corresponding to 355,437,751 common registered shares of a nominal value of €0.06 each.

The Ministry of Development and Investments (General Secretariat of Commerce and Consumer Protection), by virtue of its decision 2548333/21.12.2021 announced that the minutes of the Extraordinary General Meeting of December 14, 2021 with regard to the aforementioned reduction and the respective amendment of article 3 of the Articles of Association have been registered with the General Electronic Commercial Registry (G.E.MI.) under registration number 2755070 on December 21, 2021. The Corporate Actions Committee of Athens Stock Exchange has been informed during its meeting on 27 December 2021 in relation to the reduction of the nominal value of the Company's shares.

In view of the above, the Company's shares will be trading in the Athens Exchange with the new nominal value of €0.06 per share, starting on 30 December 2021.

Enquiries

Frigoglass

John Stamatakos

Group Treasury and IR Manager

Tel: [phone]

E-mail: [e-mail]

This press release constitutes a public disclosure of inside information by Frigoglass S.A.I.C. under Regulation (EU) 596/2014 (16 April 2014). This notification was made by Mr. Nikos Mamoulis, Chief Executive Officer of Frigoglass S.A.I.C. at 9:30 a.m. on 28 December 2021.

Frigoglass

Frigoglass is a strategic partner to beverage brands throughout the world. We are one of the global leaders in the Ice Cold Merchandisers (ICM) market and the principal supplier of glass packaging in the high growth markets of West Africa.

Frigoglass has long-standing relationships with blue chip customers in the soft drinks and beverage industries. Our bespoke Ice Cold Merchandisers (beverage coolers) enhance our customers' beverage branding and facilitate immediate beverage consumption. At the same time, our leading innovations in the field of green refrigeration enable our customers to meet their sustainability and carbon emissions reduction targets.

With its footprint, Frigoglass is well established in the more mature European markets while it is evolving and establishing its position in emerging markets. We support our customers through manufacturing facilities in eight countries and an extensive network of sales and after-sales representatives.

In our glass bottle business, we are focused on Africa, which is a prime region of investment for our customers. We aim to create value for our customers by building on our position as a leading supplier of glass bottles and complementary packaging solutions in West Africa.

For more information, please visit http://www.frigoglass.com.