Bank of Cyprus Public : General Meeting

THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION.

If you are in doubt about the action you should take, you are recommended to immediately obtain your own personal financial advice from your duly authorised stockbroker, solicitor, accountant or other independent professional adviser. If you have sold or transferred all your Bank of Cyprus Holdings Public Limited Company ("BOCH PLC") shares or Depositary Interests representing shares of BOCH PLC ("DI"), please send this document, together with the accompanying Shareholder Form of Proxy ("Form of Proxy") and DI Holder Form of Proxy Nomination ("DI Form of Proxy"), to the purchaser or transferee, or to the stockbroker, or other agent through or by whom the sale or transfer was effected, for delivery to the purchaser or transferee.

Bank of Cyprus Holdings Public Limited Company Notice of Annual General Meeting

On Friday 17 May 2024 at 11:00 a.m. (Cyprus time) / 9:00 a.m. (Irish time) at Stassinos Street, Ayia Paraskevi, 2002 Strovolos, Nicosia, Cyprus.

Notice of the Annual General Meeting ("AGM") of Bank of Cyprus Holdings Public Limited Company (the "Company") is set out on pages 6 to 29 of this document.

The process for appointing a proxy and/or voting at the meeting will depend on the manner in which you hold your ordinary shares in the Company (the "Ordinary Shares").

A Form of Proxy for certificated shareholders for the AGM accompanies this document. For shareholders whose names appear on the register of members of the Company (i.e. those who hold their Ordinary Shares in certificated form ("Certificated Shareholders")), the Form of Proxy must be completed and returned to the Company's Registrars, Link Registrars Limited at P.O. Box 7117, Dublin 2, Ireland (if delivered by post) or to Link Registrars Limited, Suite 149, The Capel Building, Mary's Abbey, Dublin 7, D07 DP79 , Ireland (if delivered by hand during normal business hours) so as to be received by no later than 11:00 a.m. (Cyprus time) / 9:00 a.m. (Irish time) on Wednesday 15 May 2024. Alternatively, you may appoint a proxy electronically by visiting the website of the Company's Registrars at www.signalshares.com and entering the Company name, Bank of Cyprus Holdings PLC. You will need to register for the Share Portal by clicking on "registration section" (if you have not registered previously) and following the instructions. You will need your Investor Code ("IVC") which can be found on your share certificate.

Persons holding Cyprus Stock Exchange depositary interests issued by Link Market Services Trustees (Nominees) Limited ("Custodian") and representing an Ordinary Share in the Company ("DI Holders") wishing to appoint a proxy should use the DI Form of Proxy accompanying this document. To be valid, DI Forms of Proxy must be completed, signed and returned, together with any power of attorney or other authority under which it is executed, or a notarially certified copy thereof, to Investor Relations & ESG Department, 51 Stassinos Street, Ayia Paraskevi, 2002 Strovolos, Nicosia, Cyprus or P.O. Box 21472, 1599 Nicosia, Cyprus, e- mail: shares@bankofcyprus.com,fax: + 357 22 120245 so as to reach such address no later than 11:00 a.m. (Cyprus time) / 9:00 a.m. (Irish time) on Wednesday 15 May 2024.

Those who hold their interests in Ordinary Shares as Belgian law rights through the Euroclear Bank SA/NV ("Euroclear Bank") system ("EB System") or through participation by holders of CREST Depositary Interests ("CDIs") through the CREST system ("CREST") will also need to comply with the additional voting deadlines and procedures imposed by the respective service offerings which are summarised below. All persons affected are recommended to consult with their stockbroker or other intermediary at the earliest opportunity for further information on the processes and timelines for submitting proxy votes for the AGM through the respective systems.

Page 1

For voting services offered by custodians holding Irish corporate securities directly with Euroclear Bank, please contact your custodian.

Additionally, Link Registrars has launched a shareholder app: LinkVote+. It's free to download and use and gives Certificated Shareholders the ability to access their shareholding record at any time and allows users to submit a proxy appointment quickly and easily online rather than through the post. The app is available to download on both the Apple App Store and Google Play, or by scanning the relevant QR code below.

Further information for the holders of CDIs

Euroclear UK & International Limited ("EUI"), the operator of CREST, has arranged for voting instructions relating to the CDIs held in CREST to be received via a third-party service provider, Broadridge Financial Solutions Limited ("Broadridge"). Further details on this service are set out on the "All you need to know about SRD II in Euroclear UK & International" webpage (see section CREST International Service - Proxy Voting).

If you are a holder of CDIs (a "CDI Holder" and together with the Certificated Shareholders and the DI Holders, the "Shareholders"), you will be required to make use of the EUI proxy voting service facilitated by Broadridge's Global Proxy Voting service in order to receive meeting announcements and send back voting instructions. To facilitate client set up, if you hold CDIs and wish to participate in the proxy voting service, you will need to complete a Meetings and Voting Client Set-up Form (CRT408). Completed application forms should be returned to EUI by an authorised signatory with another relevant authorised signatory copied in for verification purposes using the following email address: eui.srd2@euroclear.com.

Fully completed and returned application forms will be shared with Broadridge by EUI. This will enable Broadridge to contact you and share further detailed information on the service offering and initiate the process for granting you access to the Broadridge platform.

Once CDI Holders have access to the Broadridge platform, they can complete and submit proxy appointments (including voting instructions) electronically. Broadridge will process and deliver proxy voting instructions received from CDI Holders by the Broadridge voting deadline date to Euroclear Bank, by their cut-off and to agreed market requirements. Alternatively, a CDI Holder can send a third-party proxy voting instruction through the Broadridge platform in order to appoint a third party (who may be a corporate representative or the CDI Holder themselves) to attend and vote at the meeting for the number of Ordinary Shares specified in the proxy instruction (subject to the Broadridge voting deadline). There is no facility to offer a letter of representation/appoint a corporate representative other than through the submission of third-partyproxy appointment instructions through Broadridge.

Broadridge's voting deadline will be earlier than Euroclear Bank's voting instruction deadline as set out below and is expected to be at least two (2) business days prior to the Euroclear Bank proxy appointment deadline (i.e. Broadridge's voting deadline will be Monday 13 May 2024). Voting instructions cannot be changed or cancelled after Broadridge's voting deadline.

CDI Holders are strongly encouraged to familiarise themselves with the arrangements with Broadridge, including the voting deadlines and procedures and to take, as soon as possible, any further actions required by Broadridge before they can avail of this voting service.

Should you have any queries in relation to completing and submitting proxy appointments (including voting instructions) electronically via Broadridge, please contact your dedicated client service representative at Broadridge.

Page 2

Further information for Euroclear Bank Participants

Participants in the EB System ("EB Participants") can submit proxy appointments (including voting instructions) electronically in the manner described in the document issued by Euroclear Bank and entitled "Euroclear Bank as issuer CSD for Irish corporate securities" (as amended or replaced from time to time) and available on the Euroclear Bank website (www.euroclear.com) (the "Euroclear Bank Service Description"). EB Participants can either send:

1. electronic voting instructions to instruct Euroclear Nominees Limited (i.e. the nominee of Euroclear Bank) ("Euroclear Nominees") to either itself or by appointing the Chairman as proxy on the instruction of Euroclear Nominees to:
2. 1. vote in favour of all or a specific resolution(s);
   2. vote against for all or a specific resolution(s);
   3. abstain for all or a specific resolution(s); or
   4. give discretionary vote to the Chairman for all or a specific resolution(s); or
3. a proxy voting instruction to appoint a third party (other than Euroclear Nominees or the Chairman of the AGM) (who may be a corporate representative or the EB Participant themselves) to attend the meeting and vote for the number of Ordinary Shares specified in the proxy voting instruction by providing Euroclear Bank with the proxy details as requested in its notification (e.g. proxy first name, proxy last name, proxy address). There is no facility to offer a letter of representation/appoint a corporate representative other than through the submission of third-partyproxy appointment instructions.

Euroclear Bank's voting instruction deadline is expected to be at 10:00 a.m. (Cyprus time) / 8:00 a.m. (Irish time) on Wednesday 15 May 2024. Voting instructions cannot be changed or cancelled after Euroclear Bank's voting deadline.

Group Profile

The Bank of Cyprus Group is the leading banking and financial services group in Cyprus, providing a wide range of financial products and services which include retail and commercial banking, finance, factoring, investment banking, brokerage, fund management, private banking and life and general insurance. At 31 December 2023, the Bank of Cyprus Group operated through a total of 64 branches in Cyprus, of which 4 operated as cash offices. The Bank of Cyprus Group employed 2,830 staff worldwide. At 31 December 2023, the Group's Total Assets amounted to €26.6 bn and Total Equity was €2.5 bn. The Bank of Cyprus Group comprises Bank of Cyprus Holdings Public Limited Company, its subsidiary Bank of Cyprus Public Company Limited and its subsidiaries.

Page 3

Dear Shareholders

Bank of Cyprus Holdings Public Limited Company (the "Company") - Annual General Meeting ("AGM") - 17 May 2024

The AGM of the Company will be held at 11:00 a.m. (Cyprus time) / 9:00 a.m. (Irish time) on Friday, 17 May 2024 at the Company's Headquarters, 51 Stassinos Street, Ayia Paraskevi, 2002 Strovolos, Nicosia, Cyprus. Shareholders in Ireland may participate in the AGM by audio link at the registered office of the Company, Ten Earlsfort Terrace, Dublin 2, D02 T380, Ireland at the same time as the AGM, (i.e. commencing at 9:00 a.m. (Irish time) on Friday, 17 May 2024). Shareholders will also have the ability to listen to the meeting by electronic means and the ability to vote by either submitting a proxy form in advance of the meeting or by using the electronic voting facility. This document includes important information on the business of the AGM, including the resolutions to be voted on by Shareholders at the AGM.

If you wish to listen live to the AGM proceedings, you can do so by availing of the electronic meeting facility by accessing the AGM website, https://web.lumiagm.com. This will allow you to audio cast the AGM and Shareholders can submit questions and votes through the website. Further instructions on how to attend the meeting remotely are set on pages 28-29 and on the Company's website www.bankofcyprus.com/group/(select Investor Relations / Annual General Meeting 2024).

Before the AGM, a Shareholder may also submit a question in writing, to be received at least four business days before the meeting (i.e. by Monday, 13 May 2024) by post to the Company Secretary, Bank of Cyprus Holdings Public Limited Company, 51 Stassinos Street, Ayia

Paraskevi, 2002 Strovolos, Nicosia, Cyprus or by email toCompany.Secretary@bankofcyprus.com. All correspondence should include sufficient information to identify you as a Shareholder, DI Holder, EB Participant or CDI Holder. Responses to the most common questions will be posted on the Company's website onwww.bankofcyprus.com/group/(Investor Relations / Annual General Meeting 2024) and we also anticipate responding in writing directly to any individual Shareholder who raises a question.

All resolutions will be taken on a poll vote. On a poll, each Shareholder has one vote for every Ordinary Share held. Electronic voting will be used at the AGM. The results of the voting will be posted on our website (www.bankofcyprus.com/group/) after the meeting and notified to the London Stock Exchange and Cyprus Stock Exchange.

There are 17 Resolutions proposed for this year's AGM. Explanatory notes for each proposed Resolution are contained in the enclosed Notice. These resolutions, save for Resolutions 16 and 17, are routine for bank holding companies listed on the London Stock Exchange and seek to provide the Board with the renewal of a customary and generally accepted range of options so as to allow the Board to respond effectively and on a timely basis to circumstances that might arise.

Resolution 17 must be approved by shareholders holding a majority of at least 66% of the shares represented (in person or by proxy) at the AGM, provided that at least 50% of the total shares are represented (in person or by proxy) at the AGM. If the latter condition is not met, at least 75% of the shares represented (in person or by proxy) at the AGM must be voted in favour of the resolution in order for it to be passed.

The Directors of the Company consider the Resolutions proposed to be in the best interests of the Company and its Shareholders as a whole and unanimously recommend Shareholders vote in favour of all Resolutions, as they intend to do in respect of their own shareholdings.

We would like to thank you for your continued support.

Page 4

Yours sincerely

Efstratios-Georgios Arapoglou

Chairman

12 April 2024

Page 5

NOTICE OF THE ANNUAL GENERAL MEETING

Notice is hereby given that the Annual General Meeting ("AGM") of Bank of Cyprus Holdings Public Limited Company (the "Company" or the "Bank") will be held at the Company's Headquarters (51 Stassinos Street, Ayia Paraskevi, 2002 Strovolos, Nicosia, Cyprus) on Friday 17 May 2024 at 11:00 a.m. (Cyprus time). Shareholders in Ireland may participate in the AGM by audio link at the registered office of the Company, Ten Earlsfort Terrace, Dublin 2, D02 T380, Ireland at the same time as the AGM, (i.e. commencing at 9:00 a.m. Irish time on Friday, 17 May 2024).

The AGM will consider and, if thought fit, approve the following resolutions:

ORDINARY BUSINESS:

1. Following a review of the Company's affairs, to receive and consider the Financial Statements for the year ended 31 December 2023 together with the reports of the Directors and the Auditors thereon (Resolution 1)
2. To authorise the Board of Directors to fix the Auditors' remuneration (Resolution 2).
3. To authorise the following annual ordinary remuneration of the Directors, such remuneration to be cumulative unless otherwise specified where a director holds more than one specified function (Resolution 3):

(c) Panicos Nicolaou Resolution 4 (c)

(d) Constantine Iordanou Resolution 4(d)

Page 6

1. Eliza Livadiotou Resolution 4(e)
2. Monique Hemerijck Resolution 4(f)
3. Adrian Lewis Resolution 4(g)

To appoint the following persons as Directors, by separate resolutions, subject to the approval of the European Central Bank (the "ECB"):

1. 1. Christian Hansmeyer Resolution 4(h)
   2. Stuart Birrell Resolution 4(i)
2. To receive and consider the Annual Remuneration Report of the Remuneration Committee for the year ended 31 December 2023, which is set out on pages 221 to 232 of the 2023 Annual Report which will be posted on the Company's website onwww.bankofcyprus.com/group/(Investor Relations / Annual Reports) as an advisory, non- binding resolution (Resolution 5).
3. To receive and consider the Revised Remuneration Policy, which is set out on the Company's website onwww.bankofcyprus.com/group/(Investor Relations / Annual Reports) as an advisory, non-binding resolution (Resolution 6).
4. To declare a final dividend of €0.25 per ordinary share for the financial year ended 31 December 2023 (Resolution 7).

SPECIAL BUSINESS

8. As an Ordinary Resolution:

"THAT the Directors of the Company be and are hereby generally and unconditionally authorised to exercise all the powers of the Company to allot and issue relevant securities (within the meaning of section 1021 of the Companies Act 2014 (as amended) (the "Companies Act")) of the Company, up to an aggregate of:

1. 147,245,978 Ordinary Shares of €0.10 each; and
2. a further 147,245,978 Ordinary Shares of €0.10 each provided that such Ordinary Shares are: (i) equity securities (within the meaning of section 1023(1) of the Companies Act); and (ii) offered by way of a rights issue or other pre-emptive issue to holders of Ordinary Shares at such record dates as the Directors may determine where the equity securities respectively attributable to the interests of the ordinary Shareholders are proportionate (as nearly as may be practicable) to the respective numbers of Ordinary Shares held by them on any such record dates, but subject to such exclusions or other arrangements as the Directors may deem necessary or expedient to deal with legal or practical problems in respect of overseas Shareholders or Shareholders or persons holding an interest in shares (including derivative or beneficial interest or an interest in any entity whether held directly or through one or more intermediary entity or interest) subject to legal restrictions or sanctions, fractional entitlements or otherwise,

provided that the power hereby conferred shall expire at close of business of the next AGM or 15 August 2025, whichever is earlier, unless and to the extent that such power is renewed, revoked or extended prior to such date, save the Company may make before such expiry an offer or agreement which would or might require relevant securities to be allotted after such expiry, and the Directors may allot relevant securities in pursuance of such an offer or agreement as if the power conferred by this resolution had not expired

(Resolution 8).

9. As a Special Resolution:

Page 7

"THAT, if Resolution 8 as set out in the Notice of this meeting is approved, the Directors be and are hereby generally authorised to allot and issue equity securities (within the meaning of section 1023(1) of the Companies Act) for cash and/or treasury shares (within the meaning of section 1078 of the Companies Act) for cash pursuant to the authority conferred on the Directors by Resolution 8 as if section 1022(1) of the Companies Act did not apply, provided that this power shall be limited to:

1. the allotment of equity securities in connection with any rights issue or other pre- emptive issue in favour of ordinary Shareholders (other than those holders with registered addresses outside the State (Ireland) to whom an offer would, in the opinion of the Directors, be impractical or unlawful in any jurisdiction) on the register of members at such record date as the Directors may determine where the equity securities respectively attributable to the interest of such ordinary Shareholders are proportionate (as nearly as may be) to the respective number of Ordinary Shares held by them and subject to such exclusions or other arrangements as the Directors may deem necessary or expedient to deal with regulatory requirements, legal or practical problems in respect of overseas Shareholders or Shareholders or persons holding an interest in shares (including derivative or beneficial interests or an interest in any entity whether held directly or through one or more intermediary entity or interest) subject to legal restrictions or sanctions, fractional entitlements or otherwise; and
2. the allotment of equity securities for cash (otherwise than under Paragraph (a) above) together with all treasury shares re-issued while this authority remains operable shall not exceed 22,309,997 Ordinary Shares of €0.10 each,

provided that this authority shall expire at the close of business of the next AGM or 15 August 2025, whichever is earlier, save that the Company may before such expiry make an offer or agreement which would or might require such securities to be issued and allotted after such expiry and the Directors may allot such securities in pursuance of such offer or agreement as if the power conferred hereby had not expired" (Resolution 9).

10. As a Special Resolution:

"THAT, if Resolution 8 as set out in the Notice of this meeting is approved, the Directors be and are hereby generally authorised, in addition to any authority granted under Resolution 9, to allot and issue equity securities (within the meaning of section 1023 of the Companies Act) for cash and/or treasury shares (within the meaning of section 1078 of the Companies Act) for cash pursuant to the authority conferred on the Directors by Resolution 8 as if section 1022(1) of the Companies Act did not apply to any such issue or allotment, such authority to be:

1. limited to the allotment of equity securities and re-issue of treasury shares up to 22,309,997 Ordinary Shares of €0.10 each;
2. used only for the purposes of financing (or refinancing, if the authority is to be used within twelve months after the original transaction) a transaction which the Directors determine to be either an acquisition or other specified capital investment of a kind contemplated by the Statement of Principles on Disapplying Pre-Emption Rights most recently published by the Pre-Emption Group prior to the date of the Notice of this meeting; and

provided that this authority shall expire at the close of business of the next AGM or 15 August 2025, whichever is earlier, save that the Company may before such expiry make an offer or agreement which would or might require such equity securities to be issued and allotted (and treasury shares to be re-issued) after such expiry and the Directors may issue and allot equity securities (and may re-issue such treasury shares) in pursuance of such offer or agreement as if the power conferred hereby had not expired" (Resolution 10).

11. As an Ordinary Resolution:

"THAT, in addition to and separate from the authority granted by Resolution 8 as set out in the Notice of this meeting, the Directors of the Company be and are hereby generally

Page 8

and unconditionally authorised pursuant to section 1021 of the Companies Act to issue, allot, grant options over or otherwise dispose of:

1. additional Tier 1 contingent equity conversion notes that automatically convert into or are exchanged for Ordinary Shares in the Company in prescribed circumstances
   ("AT1 ECNs") where the Directors consider that the issuance of AT1 ECNs would be desirable in connection with, or for the purposes of, complying with or maintaining compliance with the regulatory capital requirements or targets applicable to (i) the Company and/or (ii) the Company and its subsidiaries and/or (iii) the Company's subsidiaries, in each case from time to time; and
2. Ordinary Shares pursuant to the conversion or exchange of AT1 ECNs, or to agree to do any of the foregoing acts,

PROVIDED THAT the power conferred by this resolution shall:

1. 1. be limited to the issue, allotment, grant of options over or other disposal of Ordinary Shares of an aggregate nominal amount of up to €6,692,999 and of AT1 ECNs convertible or exchangeable into Ordinary Shares up to such maximum aggregate nominal amount; and
   2. expire on 15 August 2025 or at the close of business on the date of the next AGM, whichever is earlier, but so that the Company may make offers and enter into agreements before the authority expires which would or might require AT1 ECNs or Ordinary Shares to be issued or rights to subscribe for or to convert or exchange any security into Ordinary Shares to be granted after the authority expires and the Directors may allot shares or grant such rights under any such offer or agreement as if the authority had not expired" (Resolution 11).
2. As a Special Resolution:
   "THAT, in addition to and separate from the authority granted by Resolutions 9 and 10 as set out in the Notice of this meeting, the Directors be and are hereby generally empowered to issue, allot, grant options over or otherwise dispose of equity securities (within the meaning of section 1023(1) of the Companies Act) or a right to subscribe for, or convert any securities into Ordinary Shares, including AT1 ECNs (as defined in Resolution 11 as set out in the Notice of this meeting) and any Ordinary Shares issued pursuant to the conversion or exchange of AT1 ECNs of the Company for cash pursuant to the authority conferred on the Directors by Resolution 11 above as if section 1022(1) of the Companies Act did not apply up to a maximum aggregate amount provided for in paragraph (i) of such Resolution 11, provided that: this authority shall expire at the close of business on the date of the AGM of the Company to be held in 2025 or on 15 August 2025, whichever is earlier, but so that the Company may make offers and enter into agreements before the authority expires which would or might require AT1 ECNs or Ordinary Shares to be issued or rights to subscribe for or convert or exchange any security into Ordinary Shares to be granted after the authority expires and the Directors may allot shares or grant such rights under any such offer or agreement as if the authority had not expired" (Resolution 12).
3. As a Special Resolution:
   "THAT the Company and/or any of its subsidiaries be and they are hereby generally authorised to make purchases on a securities market (within the meaning of section 1072 of the Companies Act) of Ordinary Shares of the Company on such terms and conditions and in such manner as the Directors, or as the case may be, the director of such subsidiary, may from time to time determine but subject to the provisions of the Companies Act and to the following restrictions and provisions:
4. 1. the maximum number of Ordinary Shares authorised to be acquired pursuant to the terms of this resolution shall not exceed 44,619,993 Ordinary Shares of €0.10 each;
   2. the minimum price (excluding expenses) which may be paid for any Ordinary Share shall be the nominal value of the ordinary share;

Page 9

1. the maximum price (excluding expenses) which may be paid for any Ordinary Share in the Company (a "Relevant Share") shall be the higher of:
2. 1. 5% above the average of the closing prices of a Relevant Share taken from the Official List of the London Stock Exchange in the case of a purchase on the London Stock Exchange or the respective list of the Cyprus Stock Exchange in the case of a purchase on the Cyprus Stock Exchange, for the five business days prior to the day the purchase is made; and
   2. the amount stipulated by Article 3(2) of Commission Delegated Regulation (EU) 2016/1052 and any corresponding provision of any replacement legislation, (being the value of a Relevant Share calculated on the basis of the higher of the price quoted for:
   3. 1. the last independent trade of; and
      2. the highest current independent bid or offer for any number of Relevant Shares on the trading venue where the purchase pursuant to the authority conferred by this resolution will be carried out).

If the means of providing the foregoing information as to dealings and prices by reference to which the maximum price is to be determined is altered or is replaced by some other means, then a maximum price shall be determined on the basis of the equivalent information published by the relevant authority in relation to dealings on the London Stock Exchange in the case of a purchase on the London Stock Exchange, or Cyprus Stock Exchange in the case of a purchase on the Cyprus Stock Exchange, or its equivalent.

1. The authority hereby granted shall expire at the close of business on the date of the next AGM or 15 August 2025, whichever is the earlier, unless previously varied, revoked or renewed by special resolution in accordance with the provisions of section 1074 of the Companies Act. The Company or any such subsidiary may before such expiry enter into a contract for the purchase of Ordinary Shares which would or might be executed wholly or partly after such expiry and may complete any such contract as if the authority conferred hereby had not expired." (Resolution 13).

14. As a Special Resolution:

"THAT, for the purposes of sections 109 and/or 1078 of the Companies Act, the re-allotment price range at which any treasury shares for the time being held by the Company may be re-allotted (including by way of re-allotmentoff-market) shall be as follows:

1. the maximum price at which a treasury share may be re-allotted shall be an amount equal to 120% of the Appropriate Price; and
2. the minimum price at which a treasury share may be re-allotted shall be the nominal value of the share where such a share is required to satisfy an obligation under an employees' share scheme (as defined by section 64 of the Companies Act) operated by the Company or any of its subsidiaries or, in all other cases, an amount equal to 95% of the Appropriate Price.
   For the purposes of this resolution the expression "Appropriate Price" shall mean the average of the five amounts resulting from determining whichever of the following (i), (ii) or (iii) specified below in relation to shares of the class of which such treasury share is to be re-allotted shall be appropriate in respect of each of the five business days immediately preceding the day on which the treasury share is re-allotted, as determined from information published on the London Stock Exchange or the Cyprus Stock Exchange (as determined by the Directors) reporting the business done on each of these five business days:

1. if there shall be more than one dealing reported for the day, the average of the prices at which such dealings took place; or

Page 10