Ellinas Finance Public Company LTD

Capital/Financing Update • Apr 4, 2023

April 03, 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 third tranche issue of the Series D Bond and disperse of 278 Bonds of the Company, for the total value of €278,000

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 third tranche of the Series D Bond and disperse of 278 non-convertibles, redeemable, non-secured 5-year Bonds with total value of €278,000 under the terms and conditions of the relevant Trust Deed (the «Bond»), dated January 13, 2023, aiming to increase the Company's capital.

The Bond has the following characteristics:

• · Issue amount of third tranche: €278,000
• · Type of Bond: Non-convertible, redeemable
• · Annual Interest rate: 5%
• · Duration: 5 years
• · Number of Bonds: 278
• · Nominal value: €1,000 per unit
• · Date of issue: March 31, 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 March 31, 2023.

Sincerely,

Constantinos Servos, Compliance Officer

CC.: Cyprus Securities Exchange Commission