Commencement of trading of shares resulted from extra-ordinary share capital increase following reinvestment of the dividend for the financial year 2019

ΟPAP S.A. (the “Company”) announces to the public that by virtue of the decision of the Board of Directors of the Company dated 26 June 2020, the share capital increase of the Company was decided in the context of the program for the reinvestment of the dividend for the financial year 2019, following the granting of relevant authorization by the Annual General Meeting of the Shareholders of 22 May 2019 in accordance with article 24 par. 1 b) of Greek law 4548/2018 for the implementation of the approved by the above General Meeting dividend reinvestment program of a five-year duration (2019 – 2023).

Following the above, the Board of Directors of the Company at its meeting dated 7 August 2020 decided the issuance of six million seven hundred eighteen thousand five hundred seventy one (6,718,571) new ordinary, registered, voting shares, of nominal value of 0.30 euro each, which resulted from the partial subscription of the share capital increase from the reinvestment of the dividend for the financial year 2019. The shares issued as per the above are granted to the beneficiaries who participated in the reinvestment of the aforementioned dividend, with an issue price equal to the volume weighted average price (VWAP) of the first five (5) trading days of the period for the exercise of the dividend reinvestment right by the beneficiaries shareholders (namely from 23.07.2020 up to and including 29.07.2020), reduced by a percentage of 3% (discount percentage). On the basis of the above, the issue price of the new shares was defined at 7.91 euro. It is reminded that the beneficiaries of the dividend for the financial year 2019 are the shareholders of the Company who were registered in the DSS records on 22.07.2020.

In the context of the reinvestment of the dividend for the financial year 2019, the beneficiaries shareholders were notified through announcements uploaded on the websites of the Athens Stock Exchange (“ATHEX”) and the Company on their aforementioned right, as well as on the time-period, the manner and the procedure for the exercise thereof. This right was exercised by 1,455 shareholders in total upon request to participate in the relevant program which resulted to the issuance in total of six million seven hundred eighteen thousand five hundred seventy one (6,718,571) new ordinary, registered, voting shares. As a result thereof, the share capital of the Company was increased by two million fifteen thousand five hundred seventy one euro and thirty cents (euro 2,015,571.30) and amounts in total to one hundred two million four hundred twenty seven thousand nine hundred sixteen euro and ten cents (euro 102,427,916.10), divided to three hundred forty one million four hundred twenty six thousand three hundred eighty seven (341,426,387) shares of nominal value of 0.30 euro each.

On 13.06.2019, the decision of the Ministry of Economy & Development – General Secretariat of Commerce and Consumer Protection – General Secretariat of the Market – Directorate of Companies – Department of Supervision of Listed SAs & Sport SAs with prot. number 63019 (Ref. 55568) that was issued on the same date was registered in G.E.MI. with Registration Code Number 1764802, by virtue of which the granting of authorization to the Board of Directors of the Company under article 24 of Greek law 4548/2018 for the extra-ordinary share capital increase of the Company up to the amount of 50,000,000.00 euro, upon issuance of up to 160,000,000 new ordinary, registered, voting shares was approved, which was decided by the resolution of the Annual General Meeting of the Shareholders of the Company dated 22 May 2019, for the implementation of the general terms of the dividend reinvestment program of a five-year duration that was approved by the same resolution. On 14.07.2020, the decision of the Ministry of Development & Investments – General Secretariat of Commerce and Consumer Protection – General Secretariat of the Market – Directorate of Companies – Department of Supervision of Listed SAs & Sport SAs with protocol number 74047/14.07.2020 that was issued on the same date was registered in G.E.MI. with Registration Code Number 2173398, by virtue of which the following were approved a) the share capital increase of the Company of up to 5,310,000.00 euro, upon issuance of up to 17,700,000 new ordinary, registered, voting shares and b) the relevant amendment of article 5 of the articles of association of the Company (entitled “Share Capital – Shareholders”), which were decided by the Board of Directors of the Company at its resolution dated 26 June 2020. Finally, on 07.08.2020, the resolution of the Board of Directors of the Company of the same date was submitted to G.E.MI., by virtue of which a) it was attested that the verification of the payment of the amount of two million fifteen thousand five hundred seventy one euro and thirty cents (euro 2,015,571.30) euro made by set-off has taken place, in accordance with article 20 paras. 4, 6 and 7 and article 28 of Greek law 4548/2018, which constitutes part of the extra-ordinary share capital increase of the Company which was decided by the Board of Directors of the Company at its resolution dated 26 June 2020, and b) the adjustment of article 5 of the articles of association of the Company on share capital was approved, as per the above.

The Corporate Actions Committee of ATHEX at its resolution dated 10 August 2020 approved the admission to trading of the aforementioned new shares of the Company.

Following the above, the admission to trading on ATHEX of six million seven hundred eighteen thousand five hundred seventy one (6,718,571) new ordinary, registered, voting shares of the Company takes place on 11 August 2020. On the same date, these shares will be registered to the ATHEXCSD records and the DSS shares and accounts of the aforementioned beneficiaries, as provided by the law, while the value of the shares of the Company will be determined in accordance with ATHEX Rulebook and the resolution no. 26 of the Board of Directors of ATHEX, as amended and in force.

For more information, the interested parties may be informed through the relevant document that is available in electronic form on the website of ATHEX and the website of the Company (www.opap.gr) and they may also contact during working days and hours the Investor Relations department at the offices of the Company in Athens, at 112, Athinon Avenue, p.c. 104 42 (contact number 210-5798930).

Athens, 10 August 2020

OPAP S.A.