ANNOUNCEMENT OF POSTPOΝΕMENT OF

EXTRAORDINARY GENERAL MEETING

The societe anonyme "REDS REAL ESTATE DEVELOPMENT & SERVICES S.A." (hereinafter the "Company") announces to the investing public, in accordance with the Regulations of the Athens Stock Exchange (4.1.3.3 par. 3) that on the 4^th of January 2021, 11:00 a.m., convened from a distance in real time via video conference and without the physical presence of the Shareholders, due to the emergency situation and in the context of the measures taken by the State to limit the spread of COVID-19, the Extraordinary General Meeting of Shareholders , after being invited by its Board of Directors, to discuss and decide on the following item on the agenda:

1. 1.      Discussion and decision-making for the sale of a property of the Romanian company under the name ‘PROFIT CONSTRUCT SRL'.

The General Meeting was attended, either personally or legally represented, by a total of eight (8) shareholders, representing 40,895,537 common registered shares and voting rights, out of a total of 57,434,884 common registered shares, i.e. 71.20% of the paid-up share capital.

Before the beginning of the discussion on the issue of the agenda, the shareholder Christos Panagiotopoulos, who represents 11.48% of the total shares and voting rights of the Company, submitted an oral request for the postponement of the discussion and the decision on the issue of the agenda, according to article 141 par. 5 of Law 4548/2018, as in force to date. The Chairman of the General Meeting set as a day of continuation of the meeting of the Extraordinary General Meeting, according to the above request of the shareholder, January 22nd 2021, on Friday at 11:00, and this will also take place from a distance in real time via teleconference and without the physical presence of the Shareholders due to the emergency situation and in the context of the measures taken by the State to limit the spread of the coronavirus COVID-19. Instructions regarding the process of participation of the Shareholders in the Extraordinary General Meeting via video conference are provided in the already published invitation of the Board of Directors on 10-12-2020 and have been posted on the Company's website.

The postponed General Meeting is a continuation of today's meeting and there is no need to repeat the formalities of publicity (invitation of shareholders) and new shareholders can participate in it in compliance with the relevant participation formalities. In the meeting of the postponed Extraordinary General Meeting of the 22^nd of January 2021, is entitled to participate and vote whoever appears as a Shareholder of common registered shares of the Company in the records of the Dematerialised Securities System ("DSS"), managed by "GREEK CENTRAL SECURITIES DEPOSITORY S.A." ("ATHEXCSD"), at the recording date of the initial meeting of the General Meeting (Registration Date), i.e. on 30^th of December 2020, being at the beginning of the fifth (5th) day before the initial meeting date of the Extraordinary General Meeting of 4^th of January 2021.

It is noted that the available documentation and information that the Company must post, including the Representative Appointment Form and the draft decision on the agenda, are available on the Company's website https://www.reds.gr. Similarly, on the website is posted the appraisal report of the company "Deloitte-Societe Anonyme of Certified Public Accountants", which concerns the appraisal of the property, to inform the shareholders. The shareholders can also receive the above documents from the offices of the Company, Ermou street no. 25, Kifissia (Shareholder Service Department tel. 210 8184800).

 Kifisia, 04 January 2021