Oratco Public Company Ltd

M&A Activity • Jun 24, 2025

June 24, 2025

Cyprus Stock Exchange Nicosia

ANNOUNCEMENT

Subject: Execution of the Business Transfer Agreement for the sale of assets and liabilities of AstroBank to Alpha Bank Cyprus

Further to the announcement of AstroBank Public Company Limited ("Astrobank") dated 27 February 2025, the AstroBank announces that it has signed the Business Transfer Agreement ("Agreement") with Alpha Bank Cyprus Ltd ("Alpha Bank") for the sale of substantially the whole of AstroBank's assets, liabilities and transfer of personnel to Alpha Bank ("Transaction").

The Transaction will significantly expand the market share of the Alpha Bank, consolidating its position as the third largest bank in Cyprus and will offer new opportunities to AstroBank's customers through Alpha Bank's extensive international network.

The consideration, upon completion of the Transaction, is estimated at no less than €205 million in cash. The Transaction is subject to regulatory approvals and consents and is expected to be completed within the 4th quarter of 2025.

Aristidis Vourakis, AstroBank's Chief Executive Officer noted on the occasion:

"We are delighted to reach another critical milestone in the process of the combination of AstroBank's operations with Alpha Bank Cyprus. The Transaction follows 4 years of systematic execution of AstroBank's business plan by its management and employees, allowing significant returns for AstroBank's shareholders and opening extensive opportunities for customers and employees in the context of the broader Alpha Bank Group".

ASTROBANK PUBLIC COMPANY LIMITED