Announcement of Regulated information pursuant to L. 3556/2007

Notification of substantial holdings L. 3556/2007

OPAP S.A. (the “Company”, “Issuer”), pursuant to the provisions of L.3556/2007 and following disclosure received by Georgiella Holdings Co. Limited on 27.09.2019 as a result of change of the quality of control of Emma Delta Management Ltd. from joint to sole control., announces the following:

Georgiella Holdings Co. Limited holds 33.3% of the shares and voting rights in Emma Delta Management Ltd., whereas the rest 66.7% is indirectly held by VALEA FOUNDATION, through the entity SAZKA Group a.s. Following the amendment of the Emma Delta Shareholders' Agreement (as defined above) on 27 June 2019, in conjunction with the departure of Mr. Jiri Smejc, as of 27 June 2019 Emma Delta Management Ltd. is no longer under the ultimate joint control of VALEA FOUNDATION and Mr. Georgios Melissanidis. It is the common view of SAZKA Group a.s. (and VALEA FOUNDATION, as the entity ultimately controlling SAZKA Group a.s.) and Georgiella Holdings Co. Limited (and Mr. Georgios Melissanidis, as the person ultimately controlling Georgiella Holdings Co. Limited), upon a legal and business review of the current status of the Emma Delta Shareholders' Agreement, that as of the date of entry into force of the Third Amendment to the Emma Delta Shareholders' Agreement (that is 27 June 2019), Emma Delta Management Ltd. is under the sole control of SAZKA Group a.s..

Thus, in accordance with the terms of the Emma Delta Shareholders' Agreement, as amended and restated on 27 June 2019, VALEA FOUNDATION exercises, through SAZKA Group a.s., sole control over Emma Delta Management Ltd. within the meaning of L. 3556/2007.

Athens, 27.09.2019

OPAP S.A.