Announcement regarding business developments

Share Capital Reduction of LAMDA MALLS S.A.

LAMDA DEVELOPMENT S.A. (the “Company”), in accordance with Regulation 596/2014/EU and the Athens Exchange Regulation, each as in force, informs the investing public that LAMDA MALLS S.A. (“LAMDA MALLS”), the Company’s subsidiary, proceeded, by virtue of the resolution of the Extraordinary General Assembly of its shareholders dated 22.12.2023, to a share capital reduction in the amount of €38,300,000 through cancellation of 38,300,000 common, registered shares for the purposes of returning equal amount of capital in cash to the Company. During the same Extraordinary General Assembly, the amendment of article 5 (regarding the share capital) of the Articles of Association of LAMDA MALLS was decided.

Consequently, the share capital of LAMDA MALLS is set in the amount of €483,029,652, divided into 483,029,652 common, registered shares of a nominal value of €1 each.

Following the completion of the aforementioned share capital reduction, the Company’s participation in the share capital of LAMDA MALLS is 95.32% whereas the participation of the Group’s foreign subsidiary, LAMDA DEVELOPMENT (NETHERLANDS) B.V. is 4.68%.