Bank of Cyprus Holdings Public Limited Company and Bank of Cyprus Public Company Limited (the "Bank") announce that Mr. Ioannis Zographakis has completed nine (9) years as a member of both Boards of Directors and is no longer considered independent, in accordance with the CBC Internal Governance Directive for Credit Institutions of 2021. The Boards at their respective meetings held on 26 October 2022, decided to appoint Mr. Constantine Iordanouas Senior Independent Director in place of Mr. Ioannis Zographakis, and Mrs. Paula Hadjisotiriou as Chair of the Risk Committee. Mr. Ioannis Zographakis will continue to serve on both Boards as a non-independent member.

The new composition of the Risk Committee, Audit Committee and Technology Committee of the Board as of this date, is as follows: Risk Committee: Paula Hadjisotiriou (Chair); Nicolaos Sofianos, Constantine Iordanou; Audit Committee: Nicolaos Sofianos (Chair), Arne Berggren, Paula Hadjisotiriou, Technology Committee: Lyn Grobler (Chair), Ioannis Zographakis, Arne Berggren, Paula Hadjisotiriou. The composition of the following Committees of the Board remains the same: Nominations & Corporate Governance Committee: Takis Arapoglou (Chair), Arne Berggren, Lyn Grobler, Maria Philippou, Human Resources & Remuneration Committee: Maria Philippou (Chair), Lyn Grobler, Constantine Iordanou. Ethics, Conduct & Culture Committee: Ioannis Zographakis (Chair), Maria Philippou.