The National Bank of Greece announced the launch of the first phase (Phase I) of the 2026 Share Buyback Program.
Phase I will be implemented in accordance with the approvals granted by the annual general meeting of shareholders held on April 30, 2026 (the “General Meeting”), in accordance with the provisions of Article 49 of Law 4548/2018, and the decision of the bank’s board of directors following the authorizations granted to it by the general meeting, the approval of the Hellenic Corporation of Assets and Participations (EESYP), as well as the approval of the Single Supervisory Mechanism (SSM) of the European Central Bank (ECB).
Phase I will be implemented in two consecutive parts under the guidance of Goldman Sachs Bank Europe (Goldman Sachs) and Morgan Stanley Europe (Morgan Stanley), respectively, which will act independently of each other and of the bank in making decisions regarding the timing and pricing of the transactions, subject to the following terms:
Purpose: The purpose of Tranche I is to enhance the return on the bank’s shares to its shareholders, as well as to strengthen the “earnings per share” and “dividend per share” ratios, and subsequently to cancel the purchased shares.
Maximum amount: Shares with a total value of up to €531,911,400.
Part I concerns the following:
A program with a cost of €231,911,400, aimed at enhancing the return on the bank’s shares to its shareholders, as well as improving the “Earnings per Share” and “Dividend per Share” ratios; The bank intends to cancel the repurchased shares, as provided for in item 6 of the agenda of the general meeting.
A €300,000,000 cost program aimed at enhancing the return on the bank’s shares to its shareholders and strengthening the “Earnings per Share” and “Dividend per Share” ratios; the bank intends to cancel the acquired shares, as provided for in item 7 of the agenda of the general meeting.
Maximum number of shares: The maximum number of shares to be acquired under Tranche I amounts to 91,471,515 shares, reduced by the number of treasury shares held by the bank as of the date of this announcement, in accordance with the restrictions provided for by Law 4548/2018.
Implementation Period: Tranche I may continue until June 8, 2027, and is subject to standard early termination conditions, which may be triggered by the bank, Goldman Sachs, or Morgan Stanley, as applicable.
Implementation procedures: The share buybacks will be conducted on Euronext Athens, in accordance with the applicable legal and regulatory framework, and in any case within the framework of the guidelines and recommendations issued by the Greek and European supervisory authorities.
Completed transactions will be disclosed to the market, and the bank will duly inform investors of any subsequent changes in the implementation of the 2026 Share Buyback Program, in accordance with applicable law.
The implementation of the second tranche of the 2026 Share Buyback Program will commence following the receipt of the necessary regulatory approvals.
This announcement is issued in accordance with the Euronext Athens Regulation, Regulation (EU) No. 596/2014 of the European Parliament and of the Council of April 16, 2014, and Commission Delegated Regulation (EU) 2016/1052 of the Commission of March 8, 2016, each as amended and currently in force.