Notification of change of executives

LAMDA DEVELOPMENT S.A. (the “Company”), in accordance with Regulation (EU) No 596/2014 and the Athens Exchange Rulebook, each as applicable, informs the investing public in relation to the appointment of Apostolos Zafolias in the role of the Chief Strategy & IR Officer.

Apostolos Zafolias has extensive experience spanning over two decades in the fields of financial strategy and mergers & acquisitions in the United States. During that time, he held leadership positions driving the strategic asset deployment, capital allocation and merger and acquisitions efforts. Most recently he held the role of Chief Financial Officer in an NYSE listed shipping company. He has also participated in the execution of over US$1bn of equity capital raises and over US$2.5bn of commercial bank financings.

His extensive background in leadership positions in combination with his experience in international markets will assist in further developing the Company’s exposure to the international investment community as well as its strategic direction.

Mr. Zafolias holds a Bachelor of Science degree from Babson College and holds the Chartered Financial Analyst designation (CFA).