Stoiximan Investment Update

OPAP S.A. ('OPAP') announces that, in line with its announcement dated 21 April 2020, its fully-owned subsidiary, OPAP Investment Ltd ('OPAP Investment'), has acquired from TCB Holdings Ltd[1] ('TCB') the pre-agreed 51% direct stake in Stoiximan Group's Greek and Cypriot business ('SMGC') currently operated by GML Interactive Ltd[2], for aggregate net consideration (i.e. after subtracting OPAP's 36.75% stake in TCB) of euro 90.2m plus net cash of euro 3.0m.

Additionally, as previously announced, OPAP Investment will pay earnout payments for 2020 and 2021 subject to the performance criteria set for SMGC.

Following the completion of the aforementioned transaction, OPAP effectively holds 69% stake in SMGC, while it retains its 36.75% stake in Stoiximan Group's operations outside of Greece and Cyprus under the BETANO brand.

Finally, OPAP Investment will proceed with (i) the acquisition of an additional 15.48% indirect stake in SMGC for aggregate net consideration of euro 43.2m plus net cash (plus earnout payments for 2020 and 2021), resulting in a 84.49% combined stake, and (ii) acquisition of sole control over SMGC for the consideration of euro 30m, upon receipt of the requisite regulatory and competition approvals. It is envisaged that SMGC will operate under the 'Stoiximan' brand through a separate legal entity.

As previously announced, the aggregate net consideration for all the aforementioned transactions planned to be paid for in the course of 2020 is euro 163.4m.

Athens, 07.08.2020

OPAP S.A.