Completion of PHOENIX & VEGA NPE Transactions

Following relevant previous communications, Piraeus Financial Holdings S.A. (“PFH”) would like to inform the investment community that the Phoenix and Vega NPE securitization transactions, corresponding to a gross book value of c.€7.0bn, have now been completed, following the granting of all necessary approvals.

Τhe distribution-in-kind to the PFH shareholders, of the shares issued by the Cypriot subsidiary “Phoenix Vega Mezz Ltd”, which holds 65% of the mezzanine and 45% of the junior tranches of the aforementioned NPE securitizations, in accordance with the respective resolution of PFH’s Annual General Meeting of Shareholders dated 22 June 2021, is scheduled to be carried out within Q3.2021, as per the envisaged timeline.

PFH will provide to the investment community all the necessary updates for the respective developments in due course.