Summary of the Amendment

Concession of Use of the Peace and Friendship Indoor Basketball Arena to Olympiacos Basketball Club S.A.

1. a) The indoor basketball arena at SEF, which is currently managed and operated by the legal entity “Peace and Friendship Stadium” (a private law entity), will be transferred for use, management, and commercial exploitation to Olympiacos Basketball Club S.A. (KAE Olympiacos) for a period of 49 years. The transfer begins upon signing of the contract.

At the end of the concession period, the stadium, including all components, auxiliary areas, and equipment—regardless of their condition—will return to the SEF entity without any compensation due to Olympiacos or any third party.

b) A contract between SEF and Olympiacos will define the specific terms and conditions of the concession. The agreement includes use of the arena, all accompanying indoor areas, related equipment, and part of the surrounding area that connects the facilities. Olympiacos will also have full and exclusive rights to use designated parking spaces, except during the organization of:

1. World or European championships or national team matches;
2. Five (5) cultural events per year, as decided by SEF.

During those periods, parking spaces must be made available—free of charge—to the event organizers.

c) The road between the stadium and the designated parking lots will remain open and accessible at all times.

d) The exact boundaries of the facilities being transferred are depicted on a site diagram dated July 25, 2025, which is part of the amendment. An area previously granted to Olympiacos for the construction of an Aquatic Sports and Cultural Center is excluded. The current legal framework remains unaffected by this concession.

2. Additional Conditions of the Concession:

a) Olympiacos retains the full and exclusive right to operate, use, lease, and sublease the facilities according to current laws. It will handle—at its own expense and in the name of SEF—all necessary permits for legal use and operation. All existing licenses automatically transfer to Olympiacos upon the start of the concession.

b) Olympiacos must pay SEF 30% of the net income derived from the commercial exploitation (excluding ticket sales, sponsorships, broadcasting rights, and advertising). Payment is due annually, no later than June 30 of the following year.

c) Within 12 years of the contract taking effect, Olympiacos must invest at least €4 million in the facilities—either directly or through tenants/licensees. These investments must include upgrades to the sports infrastructure. All such investments count toward fulfilling this requirement.

d) Olympiacos is responsible for regular and emergency maintenance, as well as repairing damages. SEF can request additional work if needed, but only after mutual agreement. Any construction or improvements made by Olympiacos remain part of the facility at the end of the concession.

Olympiacos is also responsible for insuring the facilities against all risks, except in cases of natural disasters or force majeure.

e) Olympiacos assumes full civil and criminal liability for any acts or omissions by its staff during the period of use.

f) The entire facility will be made available—free of charge—to the Hellenic Basketball Federation (EOK) for use by national men’s and women’s teams for their scheduled games and training, including those of visiting national teams, in accordance with the contract terms. The facilities may also be used for international competitions.

g) Existing agreements between SEF and third parties related to the facilities will remain valid. Olympiacos will take over the rights and obligations of SEF in these agreements from the date the new contract takes effect.

If, after the expiration of those agreements, any occupant refuses to vacate the premises, Olympiacos may request the assistance of the Real Estate and Sports Facilities Departments of the Ministry of Education, Religious Affairs, and Sports to enforce eviction.

A one-year transitional period will be provided for SEF office staff and the Table Tennis Federation to relocate.

h) Olympiacos may rename the facilities.

i) During the concession, the facilities are excluded from any EU-funded projects (e.g., roof repairs, heating systems) intended for the rest of the SEF premises.

3. Employment Terms:

a) The concession does not affect the employment or salary status of regular or temporary SEF staff working in the transferred facilities.

b) Olympiacos may request specific SEF employees to continue working under the new arrangement, with their explicit consent. During such assignments, salaries and insurance will be covered by Olympiacos, without changing their employment status.

Such employees may take unpaid leave from their SEF positions. If the agreement is terminated, the unpaid leave ends automatically without further procedures.

4. Transfer Protocol:

A detailed handover protocol will be signed, listing the properties and movable assets being transferred. A technical report, prepared at Olympiacos’ expense within 6 months of contract signing, will include an assessment of the facility’s condition and estimated cost of any necessary repairs. This report becomes part of the agreement.

5. Dispute Resolution:

Any disputes that arise from interpreting or executing the contract must be resolved amicably within 90 days. If not resolved, either party can initiate arbitration, as specified in the contract.

6. All terms of the concession are essential. Violating them may lead to revocation, according to the contract’s provisions.
7. Revocation of the concession may occur if:

• Olympiacos requests it under one of the following conditions:
  • A new stadium is built (this can only be cited after 12 years).
  • Olympiacos declares bankruptcy, is liquidated, or dissolved.
  • Force majeure makes the agreement overly burdensome.
  • Necessary permits are denied, without fault on Olympiacos’ part.

8. Olympiacos’ exclusive use and management rights take precedence over any conflicting existing terms or uses.