Lamda Development S.A. (the “Issuer”) following clarifications on the notification of major holdings under Greek Law 3556/2007 dated 27.12.2017 that received from the company under the name “Rackham Trust Company SA”, announces the following:

“1. The private trust company under the name “Rackham Trust Company SA” (incorporated and existing under the laws of Switzerland), as trustee of the “Folloe Trust”, controls indirectly, jointly and in due coordination with “VNK Capital Ltd”, the company under the name “Voxcove Holdings Ltd”, holding as of 21.12.2017 12.83% of the share capital and the voting rights of the Issuer.

The above-mentioned shares and voting rights are indirectly controlled by “Rackham Trust Company S.A.”  as trustee of the “Folloe Trust” via its participation in “Folloe Fund VCIC Ltd” (ex “Urmailey Investments Limited”) by 78.49%. “Folloe Fund VCIC Ltd” is the sole shareholder of “Olympia Group Ltd” (ex Microstar Ltd), which is the sole shareholder of “Grey Squirrel Services Ltd”, which holds 50% of the shares and voting rights of “Voxcove Holdings Ltd”, which on 21.12.2017 held directly 12.83% of the shares and voting rights of the Issuer. The rest 50% of the shares and voting rights of “Voxcove Holdings Ltd” is directly held by “VNK Capital Ltd”.

“Rackham Trust Company SA” as trustee of the “Folloe Trust” is not controlled by any person in the sense of the provisions of Greek Law 3556/2007.

2.    It is noted that due to a corporate restructuring, the following changes occurred since the last notification of major holdings under Greek law 3556/2007 dated 27.12.2007:

• Urmailey Investments Limited”, on 15.02.2018, from a limited liability company was converted to an alternative investment fund and changed its name to “Folloe Fund VCIC Ltd”,
• “Microstar Ltd” on 26.03.2018 changed its name into “Olympia Group Ltd”. “Folloe Fund VCIC Ltd” continues to exercise full control (100%) over “Olympia Group Ltd”.
• “Olympia Group Ltd” exercises full control (100%) over “Grey Squirrel Services Ltd”, since 01.01.2019. “Olympia Group SA”, since 01.01.2019 does not hold any shares and voting rights in “Grey Squirrel Services Ltd”.

Since 18.11.2019, “Voxcove Holdings Ltd” holds 10.07% of the share capital and voting rights of the Issuer.

Notwithstanding the above, no other changes have occurred in the full controlled undertakings chain.”