It has already reportedly been oversubscribed by at least six times the bid book that opened this morning in the process of the public offering of 10% of its shares National Bank who owns it Financial Stability Fund.

Demand was so strong that reportedly, the bid book was oversubscribed from the first minutes.

The price range for the National Bank plecement was set at 7.3 to 7.95 euros.

In detail, today’s relevant announcement of the Financial Stability Fund is as follows:

“On September 28, 2024, the board of directors of the Financial Stability Fund (“TFS” or “Selling Shareholder”) approved, among other things, the disposal of a 10% stake in the share capital of “National Bank of Greece SA” (hereinafter “NBH” or “Bank”), corresponding to 91,471,515 existing common, registered, intangible, voting shares, listed on the regulated market of the Athens Stock Exchange (“ATH”), with a nominal value of Euro1.00 each in the share capital of NBG (the “Offered Shares”), at an offer price (the “Offering Price”) ranging between Euro7.30 and Euro7.95 per Offered Share. The Bank is not offering Offered Shares and will not receive proceeds from the sale of the Offered Shares, the net proceeds from the sale of which will be collected by the Selling Shareholder.

The Offer Price for each Offered Share, which cannot be less than Euro7.30 or more than Euro7.95 per Offered Share, and which will be exactly the same in the Greek Public Offer and the International Offer, is expected to be determined in accordance with resolution of the board of directors of the Selling Shareholder, following the close of the offer book process period for the International Offer on or about October 2, 2024.

In addition, at any time during the bid book process for the International Offer, the Selling Shareholder may, at its sole and absolute discretion, pursuant to resolutions of its Board of Directors, decide (not in any particular order of priority) to determine and publicly announce a narrower range within the Price Range, and/or specify an indicative price.

The Offered Shares will be allocated:

(a) in Greece, to Private and Special investors (as defined below), in accordance with Regulation (EU) 2017/1129 of the European Parliament and of the Council, of June 14, 2017, regarding the prospectus that must be published during public offer of securities or during the introduction of securities for trading on a regulated market (the “Prospectus Regulation”), the applicable provisions of Law 4706/2020 and the executive decisions of the board of directors of the Capital Market Commission (the “EC” ), as amended and in force (the “Hellenic Public Offer”), and

(b) outside Greece through a private placement to (i) persons reasonably believed to be qualified institutional buyers (“QIBs”) in the United States of America (the “US” or “United States”), as defined under Rule 144A (the “Rule 144A”) or pursuant to another exemption from or in a transaction not subject to the registration requirements of the US Securities Act of 1933, as amended (the “US Securities Act”), and (ii) certain other special investors outside the United States, pursuant to Regulation S under the US Securities Act (the “International Offering” and together with the Greek Public Offering, the “Offering”).

The Hellenic Public Offer will be conducted through an electronic tender book (the “H.I.B.P.”), which will remain open during the period of the Hellenic Public Offer (i.e. from 30 September to 2 October 2024) from 10:00 Greek time and until 17:00 Greek time, except on the last day of the Greek Public Offer period.

“Green light” from the capital market

The Board of Directors of the Capital Market Commission approved the content of the prospectus for the public offer in Greece of existing and listed on the Regulated Market of the Athens Stock Exchange common, registered, post-voting intangible shares of the company “NATIONAL BANK OF GREECE S.A.” by the selling shareholder “Financial Stability Fund”, with a public offer to private individuals and special investors”.