Announcement of regulated information according to Law 3556/2007: Notification concerning changes in voting rights (L.3556/2007) (5)

LAMDA Development S.A. (hereinafter “the Company”) announces, in accordance with the provision of article 14 Law 3556/2007 and following relevant notifications submitted thereto, that on the 4th of July, 2016 the direct participation of the investment fund GSO Special Situations Master Fund (Luxembourg) S.à.r.l. was decreased to 8.41% of the share capital and the voting rights of the Company, from 12.36% based on previous notification. On the abovementioned date, the total participation of the seven investment funds, i.e. GSO Special Situations Master Fund (Luxembourg) S.à.r.l., GSO Palmetto Opportunistic Investment (Luxembourg) Partners S.à r.l., GSO Credit-A (Luxembourg) Partners S.à.r.l., GSO Coastline Credit (Luxembourg) Partners S.à r.l., GSO Aiguille des Grands Montets (Luxembourg) S.à.r.l., GSO Cactus Credit Opportunities (Luxembourg) S.à r.l. and GSO Oasis Credit (Luxembourg) Partners S.à.r.l., all managed by GSO Capital Partners L.P., was 16.61% of the share capital and the voting rights of the Company.

It is noted that GSO Capital Partners LP controls the exercise of the voting rights of the abovementioned investment funds in its capacity as manager or advisor of these funds. GSO Advisor Holdings L.L.C. is the general partner of GSO Capital Partners LP. Blackstone Holdings I L.P. is the sole member of GSO Advisor Holdings L.L.C. Blackstone Holdings I/II GP Inc. is the general partner of Blackstone Holdings I L.P. The Blackstone Group L.P. is the controlling shareholder of Blackstone Holdings I/ΙΙ GP Inc. The Blackstone Group Management L.L.C. is the general partner of The Blackstone Group L.P., and as such, the ultimate controlling legal entity of the chain of the abovementioned companies, and is itself controlled by its co-founder, Chairman & CEO Stephen A. Schwarzman.