New BoD Observer

LAMDA Development S.A. (hereinafter the “Company”) informs the investors that, as of 24.05.2017, Mr. Akshay Shah has ceased to be an observer of the meetings of the Company’s Board of Directors on behalf of the Investment Funds managed by GSO Capital Partners L.P. (hereinafter the «GSO Shareholders”), and will be replaced by Mr. Florian Hager, who will attend the meetings of the Company’s Board of Directors with the abovementioned capacity of the observer, according to the relevant Shareholders Agreement dated 26.8.2014, between Consolidated Lamda Holdings, GSO Shareholders and the Company.