Grivalia Properties : Resolutions of Extraordinary General Shareholders Meeting 17.12.2018

117, Kifisias Avenue & Agiou Konstadinou Street 151 24, Maroussi Athens-Greece

Tel: (+30) 210 8129 600 Fax:(+30) 210 8129 670

VAT n. GR094048855 General

Comm.Registry 000239101000 Reg. act 11/352/21.9.2005

Maroussi, December 17th, 2018

Resolutions of Extraordinary General Shareholders Meeting

GRIVALIA PROPERTIES REIC (the "Company") announces the following:

The Extraordinary General Meeting of the shareholders of the Company which convened on December 17th, 2018 with a 80,34% quorum of the paid-up share capital (i.e. 81.355.063 shares and voting rights), resolved the following in respect of the items of the Agenda, as described in the Invitation of its Board of Directors dated November 26th, 2018:

Item 1:

The reduction of the share capital for an amount of 10,345,991.49 Euros through cancellation of 4,857,273 of the Company's treasury shares corresponding approximately to 4.80% of the Company's share capital and the respective amendment of article 5 of the Articles of Association.

The reduction of the share capital for an amount of 40.489.145,34 Euros through reduction of the nominal value of each share by 0.42 Euros, return of the amount of the reduction to the shareholders in cash and the respective amendment of article 5 of the

117, Kifisias Avenue & Agiou Konstadinou Street 151 24, Maroussi Athens-Greece

Tel: (+30) 210 8129 600 Fax:(+30) 210 8129 670

VAT n. GR094048855 General

Comm.Registry 000239101000 Reg. act 11/352/21.9.2005

Articles of Association. Record date, cut- off date and payment date for the share capital return will be announced to the investors in due course following receipt of required regulatory approvals.

The distribution of profits of past financial years and in particular retained profits of the financial year up to and including 2016, to B.o.D. members and employees of the Company, of a total amount of 13,735,509 Euros and granted the special permission required pursuant to article 23a of Codified Law 2190/1920 for the above payments

Following relevant proposal of the Board of Directors which was accepted by the General Meeting of the shareholders, the said item was not discussed.

The above resolutions shall be effected following relevant authorizations by the regulating bodies of the Company, as the case may be.