ANNOUNCEMENT

​National Bank of Greece (“NBG”) announces that on 29.3.2019 NBG received from Invel Real Estate (Netherlands) II B.V. (“Invel”) a Call Option Exercise Notice, pursuant to Clause 3.3a.2 of the Shareholders Agreement entered into between NBG, Invel, Invel Real Estate Partners Greece L.P, Invel Real Estate Partners Greece SAS, Invel Real Estate Partners Two Limited and NBG Pangaea REIC. According to the relevant terms of Shareholders Agreement, the entities nominated by Invel, namely "Invel Real Estate B.V." and CL Hermes Opportunities, L.P., shall acquire NBG Shareholding by 30 May 2019 at call option price (€4.684 per share). The total amount to be received for NBG's Shareholding (comprising 83,438,113 shares of NBG Pangaea REIC ("Pangaea")) shall be €390,824,121. It is also noted that despite Shareholders Agreement term expiration on the 31st March, NBG retains control of Pangaea (according to applicable legal and contractual provisions) until the date of the consummation of the acquisition of NBG’s shareholding and relevant competent Pangaea’s corporate bodies resolutions.