Regulatory Information – Notification of Significant Changes in voting rights pursuant to Law 3556/2007

AVAX SA (the «Company») hereby announces in accordance with the provisions of Law 3556/2007, article 19 of Regulation (EU) 596/2014 and the notifications dated 02.12.2020 received by Cyprus-based companies “CDSJ Holdings LTD” and “MMLN 12 LTD” and Mrs Christos Joannou, Chairman of the Company’s Board of Directors, and Stelios Christodoulou, that on 01.12.2020 the Cyprus-based company JCGH LTD, which is controlled by Mr Christos Joannou (through a chain of companies, namely CDSJ Ηοldings LTD, CSME Holdings LTD and STEJO LTD), transferred all Company shares and respective voting rights to its ultimate (indirect) shareholders, as follows:

a) 16,286,111 Company shares and voting rights representing 11.285% of total Company voting rights to its ultimate (indirect) shareholder, Cyprus-based CSME Holdings LTD, which according to Law 3556/2007 is controlled by Mr Christos Joannou, Chairman of the Company’s Board of Directors, through CDSJ Holdings LTD, also under his control
b) 12,313,889 Company shares and voting rights representing 8.532% of total Company voting rights to its ultimate (indirect) shareholder, Cyprus-based MMLN 12 LTD, which according to Law 3556/2007 is controlled by Mr Stelios Christodoulou.

Following those share transfers,
a) Mr Christos Joannou indirectly (through CDSJ Holdings LTD and CSME Holdings LTD), controls 11.285% of the Company’s voting rights, corresponding to 16,286,111 shares and voting rights, versus 19.817% held previously
b) Mr Stelios Christodoulou indirectly (through MMLN 12 LTD) controls 8.532% of the Company’s voting rights, corresponding to 12,313,889 shares and voting rights.

Marousi, December 03, 2020
The Board of Directors