Ellinas Finance Public Company LTD

Capital/Financing Update • May 29, 2024

May 28, 2024

Cyprus Stock Exchange Nicosia

ANNOUNCEMENT

Subject: Decision of the Board of Directors of Ellinas Finance Public Company Limited (the "Company") to proceed with the first issue of part of the Series E Bond and disperse of 1,405 Bonds of the Company, of a total value of €1,405,000

The Board of Directors of the Company at its meeting and further to its decision dated April 25, 2024 decided the following:

1. Issue of the first tranche of the Series E Bond and disperse of 1,405 non-convertible, redeemable, secured 5-year Bonds with a total value of €1,405,000 in accordance with the Terms and Conditions of the Trust Agreement, dated May 8, 2024 (the "Series E Bond"), aiming to increase the Company's capital.

The Series E Bond has the following characteristics:

• Issue amount of first tranche: €1,405,000
• Type of Bond: secured, non-convertible, redeemable
• Annual interest rate: 5%
• Duration: 5 years
• Number of first issue Bonds: 1,405
• Nominal value: €1,000 per unit
• Release Date: May 28, 2024
• Expiration date: May 28, 2029
• Interest payment: year-on-year on 28 May

The offer of the Series E Bonds was addressed to a limited number of persons (less than 150) through a private placement at the sole discretion of the Company's Board of Directors.

The total amount of the Series E Bond can reach up to €5,000,000 and can be issued in tranches on a monthly basis with the last issue date being December 31, 2024.

The Company will take all necessary steps for the listing of the Series E Bond on the Bond Market of the Emerging Market Companies of the Cyprus Stock Exchange.

Sincerely,

Constantinos Servos, Compliance Officer

CC: Cyprus Securities and Exchange Commission