Athens, 29/04/2021

In response to the letter dated 29th April 2021 of the Hellenic Capital Markets Commission and following the announcement of 28th April 2021 that informed the investors about the FY 2020 Results, Attica Bank would like to note the following regarding the activation of  the article 27A of Law 4172/2013 (“DTC”).

In the context of its three-year Business Plan for the improvement of the quality of regulatory capital, Attica Bank intends to activate article 27A of Law 4172/2013 (“DTC”).

Through the DTC mechanism, the deferred tax claims of the Bank are converted into final,  settled and immediately receivable claims from the Greek State, the Bank forms a special reserve and issues free warrants for the acquisition of common shares (conversion rights – warrants) for the Greek State. Shareholders can exercise the right of redemption (call option) of the conversion rights, in the case of non-exercise, these may be allocated to third parties that may lead to a dilution of shareholders who will not exercise the call option.

The activation of DTC mechanism requires resolution of the General Meeting of Shareholders, following an integrated report of the Board of Directors.

The details of the implementation of DTC mechanism are specified at the above-mentioned article 27^Α of L.4172/2013, while the issuance of an Act of the Council of Ministers is also foreseen for the settlement of the issues related to the implementation of the mechanism. It is noted that the total amount of the final and settled claim of the Bank is subject to the audit of the tax authorities.

Attica Bank will inform immediately the investors about the resolutions regarding the procedure of the DTC mechanism and the deadlines for exercising the relevant rights.

The total Capital Adequacy Ratio as at 31.12.2020 stood at 8.2%. Upon the conclusion of the securitization Omega and the inclusion of the senior note into “HAPS II”, the capital adequacy ratio is estimated to increase by at least two percentage points without taking into account the capital enhancement actions of the Bank’s Business Plan 2021-2023.

Finally, the Bank’s Management is committed to its strategic goal of ensuring capital adequacy at levels well above the minimum supervisory threshold, which will allow the growth of Attica Bank’s loan portfolio and the expansion of its activities.

ATTICA BANK S.A.