Piraeus Bank : Reconstitution of the Board of Directors

In accordance with the provisions of article 2, par. 2 (e) of the resolution 3/347/12.07.2005 of the Hellenic Capital Market Commission and of Law 3016/2002, , Piraeus Bank announces that its Board of Directors on its meeting of January 27th, 2016, further to the resignations of its Non - Executive Vice Chairman, Mr N. Christodoulakis and its Independent Non - Executive Member, Mr. S. Golemis and upon recommendation of the Board Nomination Committee, elected Mr. David Hexter father's name Richard as a new Independent Non - Executive Member for the remaining term of the Board and Messrs Alexander Blades father's name Zisis and Andreas Schultheis father's name Willy as Non- Executive Members for the remaining term of the Board.

Further to the above, the Board of Directors was reconstituted as a corporate body as follows:

Non - Executive Chairman of the Board

• Michael Sallas, father's name Georgios

Independent Non-Executive Vice - Chairman

• Apostolos Tamvakakis, father's name Stavros

Executive Board Members

• Stavros Lekkakos, father's name Michael, Chief Executive Officer
• Charikleia Apalagaki, father's name Andreas, Authorized Executive Director

Non - Executive Board Members

• Argyro Athanasiou, father's name Athanasios, Independent Non - Executive Member
• Eftichios Vassilakis, father's name Theodoros, Non - Executive Member
• Iakovos Georganas, father's name Georgios, Non - Executive Member
• Chariton Kyriazis, father's name Dimitrios, Independent Non - Executive Member
• Petros Pappas, father's name Alexandros, Independent Non - Executive Member
• Vasileios Fourlis, father's name Stylianos, Non - Executive Member
• Alexander Blades father's name Zisis, Non - Executive Member
• David Hexter father's name Richard, Independent Non - Executive Member
• Andreas Schultheis father's name Willy, Non - Executive Member

The following persons also participate in the Board of Directors:

• Aikaterini Beritsi father's name Konstantinos, HFSF Representative (Law 3864/2010)
• Gerasimos Tsiaparas father's name Konstantinos, Greek Government Representative (Law 3723/2008)

It is noted that the assessment of the suitability of the new members by the Single Supervisory Mechanism (SSM) is pending.