Ellinas Finance Public Company LTD

Legal Proceedings Report • Mar 23, 2022

March 22, 2022

Cyprus Stock Exchange Nicosia

ANNOUNCEMENT

Subject: Restrictive measures of the Council of the European Union and other sanctions against Russia in response to the crisis in Ukraine/ ware in Ukraine – Economic consequences/ risks and uncertainties

The management of Ellinas Finance Public Company Limited (the "Company"), based on the evaluation of the up to date publicly available data, which are related to the restrictive measures of the Council of the European Union and other sanctions against Russia for the war in Ukraine, reports to the investing public that no significant adverse economic impacts that may affect the activities of the Company.

Based on the Company's forecasts for the near future, no significant changes are expected on the aforementioned conclusions as the company does not have any direct exposure to the Russian or Ukrainian markets. However, it is worth noting that any prolonged or extensive conflict in the region is likely to have a negative impact on the overall economy and will inevitably affect the Company's activities, to an extent that cannot be identified at the current moment.

The Company monitors the situation in order to take any necessary steps to minimize, as much as possible, any possible effects of the crisis caused by the war in Ukraine.

Sincerely,

Constantinos Servos, Compliance Officer

Attention to: Cyprus Securities and Exchange Commission