Ellinas Finance Public Company LTD

Report Publication Announcement • May 23, 2019

May 22, 2019

Cyprus Stock Exchange Nicosia

ANNOUNCEMENT

Subject: The Board of Directors of Ellinas Finance Public Company Ltd has decided to issue and disperse of 2,000 Bonds of Ellinas Finance Public Company Limited, total value of €2,000,000

The Board of Directors of Ellinas Finance Public Company Limited (the «Company») met on May 22, 2019 and decided the following:

1. Issue and disperse of 2,000 non-convertibles, secured 5-year bonds with total value of €2,000,000 under the terms and conditions of the relevant Trust Deed (the «Bond»), aiming to increase the Company's capital to achieve its business goals.

The Bond has the following characteristics:

• · Issue amount: €2 million
• · Type of Bond: Secured, non-convertible
• · Annual Interest rate: 3.5%
• · Duration: 5 years
• · Number of Bonds: 2,000
• · Nominal value: €1,000 per unit
• · Date of issue: May 22, 2019
• · Expiry date: May 22, 2024
• · Interest Payment: on an annual basis on May 22

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.

1. The Company should take all necessary decisions and undertake all necessary actions that are essential for the listing of the Bond of the Company, for trading on the Bond regulated market of Cyprus Stock Exchange (CSE) within 12 months of its issuance.

Sincerely,

Constantinos Servos, Compliance Officer

CC.: Cyprus Securities Exchange Commission