Election of new members of the Board of Directors

Reconstitution of the Board of Directors into body.

The Société Anonyme under the name “THRACE PLASTICS HOLDING COMPANY COMMERCIAL SOCIETE ANONYME” with the distinctive title “THRACE PLASTICS CO. S.A.” (hereinafter referred to as the “Company”), in the context of providing accurate, valid, and timely information to the investor community and in application of  the provisions of article 17 par. 1 of Regulation No. 596/2014 of the European Parliament and of the Council of April 16, 2014, article 5 of Law 4706/2020, article 4.1.1 of the Athens Stock Exchange Regulation as in force, as well as article 2, par. 2, section e' of the decision no. 3/347/12.07.2005 of the Board of Directors of the Hellenic Capital Market Commission, informs the investor community that the Board of Directors of the Company, during its meeting of February 28th, 2025, and following the relevant proposal made by the Company's respective Remuneration & Nominations Committee,  in accordance with the provisions of article 82 par. 1 of Law 4548/2018, articles 5 and 9 par. 4 of Law 4706/2020, article 8 of the Company's Articles of Association, and in accordance with the currently effective Policy of Suitability and the best corporate governance practices applied by the Company, unanimously and by acclamation elected:

(a) Ms. Fotini-Marina Niforos daughter of George and Ms. Eleni Providi daughter of Dimitrios, as new temporarily independent non-executive members of the Board of Directors, replacing the resigned and departed (due to the expiration of the term limit as per article 9 par. 4 (c) of Law 4706/2020) independent non-executive members of the Board, Messrs. Nikitas Glykas and Spyridoula Maltezou.

(b) Mr. Stylianos Vitogiannis son of Konstantinos, as a non-executive member of the Board of Directors, replacing the late Mr. Christos-Alexis Komninos.

The aforementioned members fully meet the criteria of individual and collective suitability according to the provisions of article 3 of Law 4706/2020, as in force, and the approved and effective Policy of Suitability of the Company, and there is no conflict of interest or incompatibility in relation to their position under the applicable corporate governance legal framework, including the Company's Corporate Governance Code and its Regulation of Operation.

Additionally, it is noted that the newly elected two (2) temporarily independent non-executive members of the Board of Directors fully meet, as confirmed by the Board's above decision, the conditions and criteria of article 9 par. 1 and 2 of Law 4706/2020, specifically:

(i) they do not directly or indirectly hold more than 0.5% of the share capital and voting rights of the Company, and (ii) they are free from any dependency relationships with the Company or any related parties, as defined in par. 2 of article 9 of Law 4706/2020, and do not have any financial, business, family, or other relationships that could affect their decisions or independent, objective, and impartial judgment.

It is also emphasized that in compliance with the requirements of article 18 par. 1 of Law 4706/2020, the detailed curricula vitae of the new members of the Board of Directors are posted on the Company's website at thracegroup.com/gr/en/board-of-directors/, where the full proposal of the Nomination and Remuneration Committee is also available.

This replacement and the election of both independent non-executive members and the non-executive member of the Board will significantly contribute to the further strengthening of the Board by utilizing their academic training, professional experience, qualifications, and skills, and is in line with the Company's decision for the continuous and optimal adaptation of its organization to the provisions and regulations of Law 4706/2020 (Government Gazette A' 136/17.07.2020) on corporate governance and respective best practices. It is fully aligned with the provisions of the aforementioned law concerning suitability, diversity, and the fulfillment of the minimum legally required number of independent non-executive members.

Finally, it is noted that the election of the aforementioned new members of the Board of Directors will be announced, in accordance with the provisions of the law and the Company's Articles of Association, at the next General Meeting of the shareholders of the Company. Furthermore, regarding the new independent non-executive members, it is noted that their designation as independent is temporary until the next General Meeting, which is the only competent body to decide on this matter.

Following the above, the Board of Directors of the Company was reconstituted into body for the remainder of its term, i.e. until February 11, 2026, as follows:

1)   Konstantinos Halioris son of Stavros, Chairman of the Board of Directors (executive member).

2)   Theodoros Kitsos son of Konstantinos, Vice Chairman of the Board of Directors (independent non-executive member).

3)   Dimitrios Malamos son of Petros, Chief Executive Officer of the Company (executive member).

4)   Athanasios Dimiou son of Georgios, Member of the Board of Directors (non-executive member).

5)   Vassilios Zairopoulos son of Stylianos, Member of the Board of Directors (non-executive member).

6)   Christos Shiatis son of Panagiotis, Member of the Board of Directors (non-executive member).

7)   Georgios Samothrakis son of Panagiotis, Member of the Board of Directors (independent non-executive member).

8)   Myrto Papathanou daughter of Christos, Member of the Board of Directors (independent non-executive member).

9)   Fotini-Marina Niforos daughter of George, Member of the Board of Directors (independent non-executive member).

10)    Eleni Providi daughter of Dimitrios, Member of the Board of Directors (independent non-executive member), and

11)    Stylianos Vitogiannis son of Konstantinos, Member of the Board of Directors (non-executive member).

For any further information, the shareholders may contact the Investor Relations Department of the Company (at +30 210 9875081, e-mail: ir@thraceplastics.gr)