AVAX SA (the «Company») hereby announces in accordance with the provisions of Law 3556/2007 and article 19 of Regulation (EU) 596/2014 and following the major shareholding notification received on 20.01.2020 by Savetrans Holdings Limited (controlled and closely associated with Mr Konstantinos Kouvaras, Deputy Chairman and Executive Director of the Company) that on 16.01.2020, SavetransHoldings Limited acquired through contribution from Mr Konstantinos Kouvaras the total number of his shares in the Company.

Following the afore-mentioned acquisition, Savetrans Holdings Limited controls 4,632,289 voting rights which correspond to 5.965% of the Company’s share capital while no change was effected in the total number of the voting rights held by Mr Konstantinos Kouvaras (who now holds such rights indirectly through Savetrans Holdings Limited).

Marousi, January 20, 2020