Ellinas Finance Public Company LTD

Capital/Financing Update • Nov 1, 2023

November 1, 2023

Cyprus Stock Exchange Nicosia

ANNOUNCEMENT

Subject: The Board of Directors of Ellinas Finance Public Company Ltd (the «Company») has decided to proceed with the sixth tranche issue of the Series D Bond and disperse of 210 Bonds of the Company, for the total value of €210,000

The Board of Directors of the Company at its meeting and following the decision of January 18, 2023 decided the following:

1. Issue of the sixth tranche of the Series D Bond and disperse of 210 non-convertibles, redeemable, non-secured 5-year Bonds with total value of €210,000 under the terms and conditions of the relevant Trust Deed (the «Bond»), dated January 13, 2023 as amended on June 15, 2023, aiming to increase the Company's capital.

The Bond has the following characteristics:

• · Issue amount of fourth tranche: €210,000
• · Type of Bond: Non-convertible, redeemable
• · Annual Interest rate: 5%
• · Duration: 5 years
• · Number of Bonds: 210
• · Nominal value: €1,000 per unit
• · Date of issue: November 1, 2023
• · Expiry date: January 17, 2028
• · Interest Payment: on an annual basis on January 17

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

The total amount of the Series D Bond could reach up to €3,000,000 and it will be issued in tranches on a monthly basis up to November 30, 2023.

Sincerely,

Constantinos Servos, Compliance Officer

CC.: Cyprus Securities Exchange Commission