Philippos Nakas S A : DECISION OF THE B.o.D. as of 14.03.2022 ABOUT THE RESTRUCTURE OF THE BOARD OF DIRECTORS

Philippos Nakas SA is a Greece-based company engaged in the distribution of music, sound and image systems, multimedia products and the operation music schools. Its product range includes musical instruments, such as pianos and amplifiers; consumer electronics products including plasma televisions, projectors and speakers; professional audiovisual systems, such as mixing consoles and conference systems; professional lighting systems; professional computer audio products, such as sound cards, software and interfaces, and multimedia products including video cards, Web cameras and software. The Company is also active in the publishing sector, representing and distributing approximately 20,000 music titles, as well as in the music education field through the operation of Keyboard Music Schools and a conservatory. It has a sales network, which comprises its own and franchised stores and an on-line shop. It has two subsidiaries, Nakas Music Cyprus Ltd and Idiotiko I.E.K. Philippos Nakas EPE.