Lamda Development S.A.

Capital/Financing Update • Nov 18, 2025

"LAMDA DEVELOPMENT S.A."

ANNOUNCEMENT

THE BOARD OF DIRECTORS OF LAMDA DEVELOPMENT S.A.

EXTENDS ITS GRATITUDE

to investors, for their response to the recent Public Offering of the Bonds of the company "LAMDA DEVELOPMENT S.A." (hereinafter the "Company" or the "Issuer") which will be admitted for trading in the Fixed Income Securities Segment of the Regulated Market of the Athens Stock Exchange (hereinafter the "ATHEX").

We would also like to commend for their services,

THE JOINT COORDINATORS AND BOOKRUNNERS OF THE PUBLIC OFFERING

THE UNDERWRITERS OF THE PUBLIC OFFERING

AND THE ISSUE ADVISORS

as well as the auditing firm "ERNST & YOUNG CERTIFIED AUDITORS SA" and the law firm "KARATZAS & PARTNERS LAW FIRM", which acted on behalf of the Issue Advisors and Joint Coordinators and Bookrunners, as well as the law firm "Papapolitis & Papapolitis", which acted on behalf of the Company.

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN ARE NOT INTENDED TO AND SHALL NOT BE DISTRIBUTED, IN WHOLE OR IN PART, IN ANY COUNTRY WHERE THE RELEASE, PUBLICATION OR DISTRIBUTION OF SUCH INFORMATION IS CONTRARY TO THE APPLICABLE LAWS OR REGULATIONS OR WOULD REQUIRE A LICENSE OR REGISTRATION TO THAT END. THIS ANNOUNCEMENT IS NOT AN OFFER OF SECURITIES FOR SALE OR A SOLICITATION OF AN OFFER TO PURCHASE ANY SECURITIES OF THE COMPANY IN ANY JURISDICTION IN WHICH AN OFFER IS UNLAWFUL.

The Board of Directors of the Issuer announces that the proceeds of the Public Offering from the issue of the common bond loan (hereinafter the "CBL" and the "Issue") amount to €500 million. The final costs for the Issue (incl. VAT where applicable) amounted to €12.9 million and will be deducted from the total proceeds raised from the Issue. As such, the net proceeds amount to €487.1 million. The certification of the payment of the proceeds raised from the Issue was made by the Board of Directors of the Company on 18.11.2025, based on the respective certification by a certified auditor.

The Issuer will transfer the net proceeds through a seven-year bond loan to its wholly owned subsidiary, HELLINIKON S.M.S.A., and such proceeds will be allocated to investments of HELLINIKON S.M.S.A. relating to the development of residential properties (certain parts of which may include commercial uses, as described in section 3.4.1 "Main Activities" of the Prospectus dated 06.11.2025, prepared in connection with the Issue) up to the year 2030, namely for the financing of development costs (including the total construction-related VAT of such projects, whether of residential or commercial use). Indicatively and without limitation, the residential developments include Cove Residencies, Park Rise, Pavilion Terraces, Sunset Groves, Atrium & Trinity Gardens, Promenade Heights, and Mainstream Apartments.

Funds not utilized for financing the development costs of the above indicative residential projects may be used within the Project in accordance with the Group's business plans from time to time.

The Company intends to finance the development of the above (or other) residential projects with the net proceeds, while any amount exceeding the construction cost is expected to be covered by available funds derived from HELLINIKON S.Μ.S.A.'s revenues from land sales, residential sales, rental income, and potentially from additional borrowings.

Pending their full allocation, the proceeds from the Bond Loan will be invested in short-term, low-risk instruments, including, indicatively, time deposits, demand deposit accounts, mutual funds, and repurchase agreements.

Further details are included in section 4.1.2 "Reasons for issuing the CBL and Use of the Proceeds" of the Prospectus dated 06.11.2025.

In accordance with applicable legislation, Articles 4.1.2 and 4.1.3 of the Rulebook of ATHEX, as well as Decisions 10A/1038/30.10.2024 and 8/754/14.4.2016 of the Board of Directors of the Hellenic Capital Market Commission, as currently in force, the Company will inform the management of ATHEX and the Hellenic Capital Market Commission regarding the use of the proceeds from the issuance of the Bond Loan, until the full allocation of such proceeds. Disclosure to investors regarding the use of proceeds will be made through the website of ATHEX, the Company's website, and the Daily Price Bulletin of ATHEX, as well as, where required, through the means provided under Law 3556/2007, as in force. Furthermore, with respect to any amendments to the use of proceeds and any additional related information, the Issuer will comply with the provisions of Article 22 of Law 4706/2020, as in force, and will duly inform the investors, the Hellenic Capital Market Commission, and ATHEX in accordance with the applicable provisions of capital markets legislation.

Τhe Bonds are in a dematerialized form and will be credited in the investor share and the Securities Account held by each beneficiary with the Dematerialized Securities System, pursuant to the details provided in the Subscription Application. The final registration of the Bonds in the Securities Accounts of the beneficiaries in the Dematerialized Securities System will be completed on 18.11.2025.

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN ARE NOT INTENDED TO AND SHALL NOT BE DISTRIBUTED, IN WHOLE OR IN PART, IN ANY COUNTRY WHERE THE RELEASE, PUBLICATION OR DISTRIBUTION OF SUCH INFORMATION IS CONTRARY TO THE APPLICABLE LAWS OR REGULATIONS OR WOULD REQUIRE A LICENSE OR REGISTRATION TO THAT END. THIS ANNOUNCEMENT IS NOT AN OFFER OF SECURITIES FOR SALE OR A SOLICITATION OF AN OFFER TO PURCHASE ANY SECURITIES OF THE COMPANY IN ANY JURISDICTION IN WHICH AN OFFER IS UNLAWFUL.

ON 19 NOVEMBER 2025

THE TRADING OF THE 500,000 BONDS ON THE FIXED INCOME SEGMENT OF THE REGULATED MARKET OF THE ATHENS STOCK EXCHANGE COMMENCES

The ticker symbol of the Bond is "ΛΑΜΔΑΟ3" in Greek and "LAMDAB3" in Latin font. The commencement trading price of the Company's Bonds is €1,000 per Bond, namely 100% of the nominal value.

Marousi, 18 November 2025

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN ARE NOT INTENDED TO AND SHALL NOT BE DISTRIBUTED, IN WHOLE OR IN PART, IN ANY COUNTRY WHERE THE RELEASE, PUBLICATION OR DISTRIBUTION OF SUCH INFORMATION IS CONTRARY TO THE APPLICABLE LAWS OR REGULATIONS OR WOULD REQUIRE A LICENSE OR REGISTRATION TO THAT END. THIS ANNOUNCEMENT IS NOT AN OFFER OF SECURITIES FOR SALE OR A SOLICITATION OF AN OFFER TO PURCHASE ANY SECURITIES OF THE COMPANY IN ANY JURISDICTION IN WHICH AN OFFER IS UNLAWFUL.