Fairfax has successfully completed the sale of 80 million Eurobank ordinary shares, representing approximately 2.2% of Eurobank's share capital, at a price of €2.33 per share, through an accelerated book-building process exclusively addressed to qualified investors.

According to a statement by Eurobank, the total amount of the transaction amounts to approximately €186 million. Settlement of the transaction is expected to be completed on or around 27 January 2025.

Please note that this share disposal is a mandatory technical adjustment due to Fairfax's significant shareholding in Eurobank and does not reflect any assessment as to Eurobank's valuation or long-term prospects. Following the transaction, Fairfax will retain a shareholding close to, but below, 33% of Eurobank's share capital and will continue to be a long-term and committed benchmark shareholder of Eurobank. In addition, Fairfax has agreed to a 180-day lock-up period from completion of the transaction in respect of its remaining shares in Eurobank, subject to customary exceptions.

Eurobank further clarifies the following:

• Fairfax Financial Holdings today proceeded with the sale of approximately 2% of its stake in Eurobank through a placement to international investors.
• The holding of a significant stake in a regulated banking institution has comparative limits and restrictions. Therefore, the significant stake that an investor may hold is determined by the relevant supervisory mechanisms and the relevant approvals obtained.
• Following a recent consultation with the supervisor, Fairfax Group is proceeding to adjust its percentage to reflect a framework of stricter supervisory interpretation while aligning with the lowest of the supervisory limits among the countries where Eurobank operates (33% for Bulgaria).
• Thus, today's transaction has precisely the character of a mandatory reduction of the shareholding of Fairfax and all related parties, in all forms, to the 33% ceiling. The shares made available to other investors correspond exactly to the excess percentage. Following the transaction, Fairfax and related parties retained the maximum percentage permitted by the supervisor of 33%, and, in addition, Fairfax's intention to maintain this percentage was stated in the transaction.