Conclusion of an investment management agreement with PIMCO Europe GmbH

1 August 2022

Hellenic Bank Public Company Ltd (“Hellenic Bank”) announces, pursuant to section 137 of the Cyprus Securities and Stock Exchange Law of 1993 (the “Law”), the conclusion of an agreement with PIMCO Europe GmbH for the provision of discretionary investment management services in relation to its investment portfolio consisting of cash and/or securities with starting value of €100mn.

PIMCO Europe GmbH is an undertaking admitted by the German Federal Financial Supervisory Authority (German Bundesanstalt für Finanzdienstleistungsaufsicht - "BaFin") for the purposes of asset management, which is subject to the supervision of the BaFin, Marie-Curie Strasse 24-28, 60439 Frankfurt, Germany and, therefore, according to Directive 2014/65/EU (the Markets in Financial Instruments Directive - "MiFID"), an investment firm authorised to perform portfolio management.

PIMCO Europe GmbH is part of the Allianz Group and specifically of the investment division managed by Pacific Investment Management Company, LLC ("PIMCO").  It is noted that Poppy S.A.R.L., which currently holds 17,3% of the issued share capital of Hellenic Bank, is owned by investment funds managed by PIMCO.

Hellenic Bank follows all required procedures and controls to properly manage any potential or perceived conflict of interest and to ensure the impartiality of designated persons under the Law.

At a meeting of the Board of Directors of Hellenic Bank dated 15 June 2021, the Board of Directors was informed of a conflict of interest and/or potential conflict of interest of the Director representing PIMCO and the said Director abstained from the discussion and voting on the decision.