The latest details were agreed and signatures were fell to the conclusion of a 90.01% acquisition of Piraeus acquisition of 90.01% of the National Insurance held by the CVC Capital Partners Fund VII.

According to Piraeus Bank in its announcement, in accordance with the signed contract, The price for the transaction amounts to € 600m in cash, on the basis of 100%.

Transaction is expected further differentiate Piraeus revenue sourcesenhancing the creation of value for shareholders, while completing the range of bank products, covering the full range of banking, insurance and investment customer solutions.

At the same time, it is noted that the transaction increases profits per share by approximately 5% and the performance of the same equity by about one percentage point, increases the production of supplies at the level of the international market, while maintaining the competitiveness of operating costs.

Based on the above, and including of the case for an annual distribution of 50% of the profits of 2025 onwardsProforma’s total capital position of Piraeus is estimated at about 18.5% for 2025, and is expected to reach approximately 19.5% by 2027 and about 20% to 2028. This impact translates to a capital adequacy index with a secure stock against the pillar of approximately 250 base points in 2025which is expected to exceed 300 basis points by 2027 and reach 400 basis points by 2028. Throughout the period, the Piraeus CET1 index is expected to be maintained at 13% and above.

Piraeus intends to achieve its classification as a Financial Conglomerate, Fico and to seek to apply the supervisory mechanism of Article 49 of the CRR Regulation, in relation to the supervisory treatment of its intended participation in the National Insurance Capital (Commonly) If achieved, will further enhance CET1 capital index by about 50 basis points.

As stated in the announcement, National Insurance is a leading insurance company in Greece, which covers the full range of insurance products, with a market share of about 14.5% (about 17% in the life insurance industry and about 11% in the loss insurance industry) and over € 0.8 billion.

The National Insurance It holds a total of € 4 p. and equity of € 0.4bn for the 2023. National Insurance recorded earnings before tax adapted for non -recurring elements of approximately € 100 million in 2023 (last available data).

The Network of National Insurance It extends throughout Greece and consists of privately owned sales network and corporate network insurance agents, as well as affiliate insurance agencies and insurance brokers. The gross registered premiums produced by the aforementioned production channels are the vast majority of the total production of National Insurance, while the rest comes from bank insurance activities.

Piraeus’ targeting for the period by 2028, as announced earlier this year on the market, is upgraded, taking into account the expected influence of the transaction as follows:

The transaction is subject to the approvals of the competent supervisory authorities.

Piraeus Counselors for the Transaction It is UBS Europe SE as an exclusive financial adviser, Milliman as an actuarial adviser and the Milbank LLP Legal Offices, Moratis Passa and Potamitis Vekri, as international, local legal advisers and competitors’ legal advisers respectively.