On 8 January 2024, Piraeus Financial Holdings S.A. (the ?Offeror?) announced that it was inviting holders of its outstanding 400,000,000 Fixed Rate Reset Dated Subordinated Notes due 26 June 2029 issued on 26 June 2019 (the ?Notes?) to tender their Notes for purchase by the Offeror for cash up to the Maximum Acceptance Amount subject to, among other things, the satisfaction (or waiver) of the New Issue Condition (such invitation, the ?Offer?). The Offer was made by the Offeror upon the terms and subject to the conditions contained in the tender offer memorandum dated 8 January 2024 (the ?Tender Offer Memorandum?) prepared by the Offeror in connection with the Offer, as more fully described in the Tender Offer Memorandum. Capitalised terms used but not otherwise defined in this announcement shall have the meanings given to them in the Tender Offer Memorandum.

The Expiration Deadline for the Offer was 5.00 p.m. (Central European time) on 15 January 2024. As at the Expiration Deadline, 293,883,000 in aggregate principal amount of the Notes were validly tendered pursuant to the Offer. The Offeror hereby announces that (subject to satisfaction or waiver of the New Issue Condition on or prior to the Settlement Date) it will accept all valid tenders of Notes for purchase pursuant to the Offer and accordingly the Final Acceptance Amount is 293,883,000.

No Scaling Factor shall be applied. The expected Settlement Date for the Offer, subject to satisfaction or waiver of the New Issue Condition, is 17 January 2024, after which 106,117,000 in aggregate principal amount of the Notes will remain outstanding. The Offeror intends to cancel those Notes accepted for purchase pursuant to the Offer.

The Offeror will, on the Settlement Date, pay for Notes validly tendered and accepted by it for purchase pursuant to the Offer (subject to the satisfaction or waiver of the New Issue Condition on or prior to the Settlement Date) a cash amount equal to 102.00 per cent. of the principal amount of Notes accepted for purchase by it pursuant to the Offer (the ?Purchase Price?). The Offeror will also pay an Accrued Interest Payment in respect of Notes accepted for purchase by it pursuant to the Offer.

The Accrued Interest Payment shall be payable by the Offeror as part of the consideration under the Offer and is not, for the avoidance of doubt, a payment pursuant to the terms of the Notes.