AEGEAN: Receipt of the State Aid as per art. 30 of Law 4772/2021 and Board of Directors decision on the issuance of warrants to the Hellenic Republic

AEGEAN AIRLINES S.A. (hereinafter “the Company”) announces that following the completion of its share capital increase through which total funds of €60m were raised and verified by the Board of Directors on June 14th, 2021, a grant of €120m was disbursed on July 2nd, 2021 by the Hellenic Republic with the aim of compensating the Company for the losses directly caused by the coronavirus outbreak, in accordance with the provisions of article 30 of Law 4772/2021 and the joint Ministerial decision by the Ministers of Finance and Transport & Infrastructure (FEK B’ 2231/28.05.2021).

Given the receipt of the grant, the Company will issue and deliver warrants without consideration to the Hellenic Republic as per article 30 of Law 4772/2021 and article 56 of Law 4548/2018 and a relevant contract will be signed. More specifically, 10,369,217 warrants will be issued, each warrant providing the right to purchase 1 new common registered share of nominal value of €0.65, at an exercise price of €3.20 per share, which can be exercised between 03.07.2023 and 03.07.2026, whilst the Company retains a call option to buy back the warrants at their market value.