Lamda Development S A : Announcement on business developments related to the Ellinikon / Signing of a Long-Term Land Lease Agreement with CGS for the development and operation of an education institution in Ellinikon (CGS at The Ellinikon)

Announcement on business developments related to the Ellinikon

Signing of a Long-Term Land Lease Agreement with CGS for the development and operation of an education institution in the Ellinikon (CGS at The Ellinikon)

Maroussi, 16 May 2024

LAMDA Development S.A. (the "Company"), in accordance with Regulation 596/2014/EU and the Athens Exchange Regulation, each as applicable, further to the Announcement dated 30.06.2022 in relation to the signing of a Μemorandum of Understanding (MoU), hereby announces the signing of a Long-Term Lease Agreement on 15.05.2024, for an initial term of 30 years with the option to extend for an additional 30 years, between the Company's indirect 100% subsidiary HELLINIKON S.M.S.A. and the company COSTEAS - GEITONAS SCHOOL S.A. (Costeas- Geitonas School "CGS"), whereby CGS will undertake the development and operation of a modern primary and secondary education institution ("CGS at The Ellinikon") in the Urban Development Area A-U4 within the Metropolitan Pole of Elliniko - Agios Kosmas.

CGS at The Ellinikon will be a modern, model school offering a National and International Curriculum, leveraging on CGS' history, values, know-how and pioneering educational philosophy.

CGS at The Ellinikon will be a landmark of educational and architectural innovation on both the domestic and the European map. Its state-of-the-art facilities will be aligned with the new city principles of the Ellinikon, the "smartest" and greenest city in Europe.

The rent for the long-term lease will be determined annually based on the Turnover achieved in each calendar year.

The opening of CGS at The Ellinikon is expected in September 2027.

Established in 1973, CGS currently hosts 1,975 students and over 600 employees on its 67,000 sqm campus in Pallini, offering International Baccalaureate (IB) programmes for students from 3 up to 18 years old in combination with Greece's National Curriculum. CGS is distinguished for its educational innovation, extroversion, and extensive network of international partnerships with prominent academic organizations.

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