Company reply to Greece’s Capital Market Commission on press report

In response to a query by Greece’s Capital Market Commission in relation to a recent electronic press report regarding subsidiary “Volterra SA”, and in line with market regulations for disclosure to investors, AVAX SA (the “Company”) clarifies the following:

In line with its standard policy, the Company always contemplates all options, depending on market conditions and its broader strategy, for optimal use of its assets, including its participations.

To this extent, investment interest for Volterra SA is being evaluated, nevertheless no relevant decisions are taken nor negotiations held with any third party.

The Company will, as always, disclose all information to investors if conditions apply, in accordance with pertinent legislation and without delay.

Marousi, November 25, 2021

The Board of Directors