Piraeus Financial Holdings S.A. - Tender Offer - Launch

PIRAEUS FINANCIAL HOLDINGS S.A. LAUNCHES CASH TENDER OFFER - XS2018638648

08 JANUARY 2024

Full announcement including disclaimers and offer restrictions available via Luxse

Piraeus Financial Holdings S.A. (the "Offeror") announces today that it is inviting holders of its outstanding €400,000,000 Fixed Rate Reset Dated Subordinated Notes due 26 June 20291 issued on 26 June 2019 (ISIN: XS2018638648) (the "Notes") to tender their Notes for purchase by the Offeror for cash up to the Maximum Acceptance Amount (as defined below) subject to, among other things, the satisfaction (or waiver) of the New Issue Condition (such invitation, the "Offer").

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"Summary

A summary of certain key terms relevant to the Offer appears below:

Description of the Offer

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"Rationale

The purpose of the Offer is to proactively manage the refinancing of the Notes in conjunction with the issue of the New Notes (as defined below) for the purposes of the Offeror managing its capital position. The Offer also provides Holders with the opportunity to sell their Notes ahead of the Optional Redemption Date and to receive, at the sole and absolute discretion of the Offeror, priority in the allocation of the New Notes, subject to the issue of the New Notes and the selling restrictions contained in the Offering Circular (as defined below) relating to the New Notes. See "Allocation of the New Notes" below. Notes repurchased by the Offeror pursuant to the Offer will be cancelled following the Settlement Date and the obligations of the Offeror in respect of any such Notes shall be discharged."

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