Announcement in Relation to Business Developments

Sale of two (2) land plots in Spata, Attica region

Maroussi, 18 May 2021

LAMDA DEVELOPMENT S.A. (the “Company”) announces, in accordance with Regulation 596/2014/EU and the Athens Exchange Regulation, each as applicable, that its wholly-owned subsidiary LAMDA Estate Development S.M.S.A. proceeded on 17.05.2021 to the signing of an agreement for the sale of two land plots in Spata, Attica region, of an aggregate area approx. 85,000 sqm, for a total price consideration of €14m. The transaction consideration stands at approximately 7% premium compared to the fair value of the land plots as of 31.12.2020.

The aforesaid transaction forms part of the Company’s existing strategy aimed at focusing on its activities in relation to the landmark Hellinikon project as well as its Shopping Malls.