Fairfax sold 80 million Eurobank shares through an accelerated bookbuilding procedure reserved for qualified investors

Eurobank Ergasias Services and Holdings S.A. (“Eurobank”) announced that it has been informed by the official announcement of its shareholder, Fairfax Financial Holdings Limited (“Fairfax”) of the following:

Fairfax has successfully sold 80 million ordinary shares (the “Shares”) of Eurobank, corresponding to approximately 2.2% of Eurobank’s share capital, at a price of Euro 2.33 per Share, through an accelerated book building procedure reserved for qualified investors (the “Transaction”).

The total proceeds of the Transaction amount to approximately 186 million euros. Settlement is expected to occur on or around January 27th, 2025.

This disposal represents a mandatory technical adjustment to Fairfax’s significant equity holding in Eurobank and does not reflect in any way a view on Eurobank’s valuation or long-term prospects. Following the Transaction, Fairfax will retain an equity stake of around, but below 33% of Eurobank’s share capital and will continue to remain a long-term, committed reference shareholder of Eurobank. Fairfax has also agreed to a 180-day lock-up period from the closing of the Transaction with respect to its remaining shares in Eurobank, subject to customary exceptions.