Athens, December 15^th, 2016

Repayment of the contingent convertible bonds (CoCos) issued in favor of the Hellenic Financial Stability Fund (HFSF)

National Bank of Greece S.A. (NBG) informs investors that, following relevant resolution of its Board of Directors and in accordance with the Commitments stemming from NBG's updated Restructuring Plan, as this was approved by the European Commission on December 4^th 2015, it has proceeded to repayment of the contingent convertible bonds (CoCos) amounting to €2,029.2m which it had issued in December 2015 and were held by the Hellenic Financial Stability Fund (HFSF), following previous relevant approval by the Single Supervisory Mechanism (SSM) of the European Central Bank in accordance with the applicable regulatory framework. It is noted that, following the repayment of the CoCos, the Group's capital adequacy ratio remains at high levels (CET1 16.9%) in relation to the stipulated supervisory limits confirming the Bank's strong capital base.