Piraeus Bank S A : ANNOUNCEMENT REGARDING THE INCREASE OF THE NOMINAL VALUE OF ITS COMMON REGISTERED VOTING SHARES IN COMBINATION WITH A CONCURRENT REVERSE SPLIT AND THE CONSEQUENT REDUCTION OF THE NOMINAL VALUE OF ITS SHARES

ANNOUNCEMENT OF "PIRAEUS FINANCIAL HOLDINGS S.A." REGARDING THE INCREASE OF THE NOMINAL VALUE OF ITS COMMON REGISTERED VOTING SHARES IN COMBINATION WITH A CONCURRENT REVERSE SPLIT AND THE CONSEQUENT REDUCTION OF THE NOMINAL VALUE OF ITS SHARES

09.04.2021

Piraeus Financial Holdings S.A. (hereinafter «the Company») hereby informs investors about the following:

The Extraordinary General Meeting of Shareholders of the Company, which was held on 07.04.2021, decided:

1. the increase the nominal value of each existing common voting share of the Company from €6.00 to €99.00 by reducing the total number of existing common registered shares of the
   Company from 831,059,164 shares to 50.367.223 new common registered voting shares with a nominal value of €99.00 each, by merging 16.5 existing shares into 1 new share of the Company (reverse split) and the consequent increase of the share capital of the Company by the amount of €93.00 by capitalizing part of the existing "share premium" reserve, with the purpose of achieving an integer number of new shares (the ''New Shares''). It is noted that no fractions of shares will be issued and the respective fractional balances of New Shares which will result from the reverse split will be liquidated by the Company and the proceeds of the liquidation will be returned to the beneficiaries shareholders.
2. the reduction of the share capital of the Company by the amount of €4,935,987,854.00 by reducing the nominal value of each New Share from €99.00 to €1.00, without altering the total number of New Shares of the Company (namely 50.367.223) and the formation of an equivalent special reserve in accordance with article 31 par. 2 of Law 4548/2018.
3. the amendment of articles 5 and 25 of the Articles of Association following the above corporate actions.

Decision no. 42494/09.04.2021 of the Hellenic Ministry of Development & Investments, registered in the General Commercial Register on 09.04.2021, approved the said amendment of articles 5 and 25 of the Company's Articles of Association.

Following the above, the Company's share capital amounts to €50.367.223, divided into 50.367.223 common registered voting shares, of a nominal value each of €1.00 each.

On 09.04.2021, the Committee of Corporate Actions of the Athens Stock Exchange:

• approved the admission to trading on the ATHEX of the New Shares and
• was informed about the reduction of the share capital increase by the amount of €4.935.987.854 through the decrease of the nominal value of each New Share from

€99,00 to €1,00, without altering the total number of the New Shares (i.e. 50.367.223).

By decision of the Company, Tuesday 13.04.2021 is the last day on which the Company's 831.059.164 current common registered shares shall be traded on the Athens Stock Exchange (hereinafter "ATHEX").

As of the following business day, Wednesday, 14.04.2021, trading of the Company's shares will be temporarily suspended, until replacement thereof, as above.

Beneficiaries of the New Shares shall be the shareholders listed in the registry of the Dematerialized Securities System (hereinafter "the DSS") on Thursday 15.04.2021 (Record Date).

The commencement date for trading on the ATHEX of the 50.367.223 New Shares with the new nominal value of €1.00 per New Share shall be Monday 19.04.2021.

As of the same date, the new aggregate number of the Company's shares listed on the ATHEX will amount to 50.367.223 new common registered voting shares with nominal value of €1.00.

The shares' market price shall be determined in accordance with the ATHEX Rulebook and ATHEX Board Decision 26, as currently in force, and the New Shares with the new nominal value of €1.00 per New Share shall be credited to shareholders' DSS accounts.

For further information, Shareholders may contact the Company's Shareholders' Service Department at 9, Mitropoleos Street, GR 10557 Athens (tel. [phone] and 210 3335039).