Notification of major holding pursuant to Law 3556/2007

Maroussi, 28 March 2025

LAMDA DEVELOPMENT S.A. (the “Company”), announces, in accordance with Athex Regulation, Greek Law 3556/2007 and Regulation 596/2014/EC, as in force, that pursuant to the notification of major holdings of Greek Law 3556/2007 dated 27 February 2025 submitted to the Company by the legal entity Brevan Howard Capital Management Limited ("BHCML") as Manager of Brevan Howard Master Fund Limited (“ΒΗΜ”) and Brevan Howard Alpha Strategies Master Fund (“BAL”), on 24 February 2025 the percentage of BHCML in voting rights in the Company amounted to 5.092%. 

It is noted that the previous notification of major holdings made in July 2020 as part of the notification by Mr. and Mrs. Tryfon Natsis listed BHCML as Manager of ΒΗΜ, Brevan Howard TN Macro Master Fund Limited ("BTN") and Brevan Howard Multi-Strategy Master Fund Limited ("BMS") reported the holdings at 2.8291% in the Company. BHM, BTN and BMS are now investments within the BHM and BAL funds (which are named as direct shareholders in the aforementioned notification, while BHCML is the Manager for both BHM and BAL fund structures) – which increased the collective holdings of BHM and BAL to 5.092% on 24.02.2025.

Mr Natsis's direct and indirect holdings on the date of the notification are referred to amount to 8.624%, thus have not exceeded the 10% threshold.

The notification further notes that BHM and BAL are Cayman based funds that have their own board of directors. Each of these funds is beneficially owned by feeder funds based in the Cayman, Delaware and Guernsey. These feeders funds are beneficially owned by the investors within those feeder funds. BHM and BAL appointed BHCML as a manager. BHCML is a Jersey based entity regulated by the Jersey Financial Services Commission. BHCML has delegated investment decisions to Brevan Howard Investment Products Limited - which is also regulated by the JFSC.