Attica Bank and Pancreta Bank's Boards of Directors met today to approve the draft merger agreement, which calls for the former to absorb the latter in accordance with the terms of the deal between the Hellenic Financial Stability Fund and Thrivest Holding.

The announcement follows:

Attica Bank announces to the investing public that the Boards of Directors of Attica Bank and "Pankritia Bank Anonimou" at their meetings held on July 26, 2024, approved the Draft Merger Agreement for the merger by absorption of Pankritia Bank by Attica Bank, which will be carried out in accordance with the provisions of Articles 6-21 and 30-34 of Law 4601/2019, the provisions of Article 16 of Law 4601/2019, 2515/1997, the applicable provisions of Law No. 4548/2018, as applicable, and the agreement dated July 18, 2024, between the Hellenic Financial Stability Fund and Thrivest Holding Ltd regarding, inter alia, the merger, as ratified by law.

The accounting consolidation of the merging companies' assets and liabilities, and in particular, the contribution of Pancretia Bank's assets and liabilities to Attica Bank as of December 31, 2023, and as they will have existed up until the merger's completion, will effect the merger.

The proposed exchange ratio is 0.0292156343836978 new ordinary registered shares of Attica Bank for each one (1) ordinary registered share of Pancretia Bank, while the shareholders of Attica Bank will retain after the merger the same number of shares they held prior to the merger.

The foregoing is subject to the conditions already announced, including the approval of the draft merger agreement by the general meetings of the shareholders of the merging companies and the receipt of all permits and approvals required by law from the competent authorities in accordance with the applicable legislation.

On behalf of Attica Bank, UBS Europe SE is acting as a financial advisor, the law firm Potamitis-Vekris is acting as a legal advisor for the purposes of the merger, and the audit firm "PRICEWATERHOUSECOOPERS S.A." is acting as an expert  in accordance with applicable law.