16 April 2026

THIS NOTICE IS IMPORTANT AND REQUIRES THE IMMEDIATE ATTENTION OF SENIOR NOTEHOLDERS. IF SENIOR NOTEHOLDERS ARE IN ANY DOUBT AS TO THE ACTION THEY SHOULD TAKE, THEY SHOULD IMMEDIATELY CONSULT THEIR OWN INDEPENDENT PROFESSIONAL ADVISERS AUTHORISED UNDER THE FINANCIAL SERVICES AND MARKETS ACT 2000, AS AMENDED (IF THEY ARE LOCATED IN THE UNITED KINGDOM), OR FROM OTHER APPROPRIATELY AUTHORISED INDEPENDENT PROFESSIONAL ADVISERS (IF THEY ARE LOCATED OUTSIDE OF THE UNITED KINGDOM).

THIS NOTICE CONTAINS IMPORTANT INFORMATION THAT IS OF INTEREST TO THE REGISTERED AND BENEFICIAL OWNERS OF THE SENIOR NOTES. IF APPLICABLE, ALL DEPOSITORIES, CUSTODIANS AND OTHER INTERMEDIARIES RECEIVING THIS NOTICE ARE REQUIRED TO EXPEDITE TRANSMISSION HEREOF TO BENEFICIAL OWNERS OF THE SENIOR NOTES IN A TIMELY MANNER. IF BENEFICIAL OWNERS OF THE SENIOR NOTES ARE IN ANY DOUBT AS TO THE MATTERS REFERRED TO IN THIS NOTICE, THEY SHOULD CONSULT THEIR STOCKBROKER, LAWYER, ACCOUNTANT OR OTHER PROFESSIONAL ADVISER WITHOUT DELAY.

If you have recently sold or otherwise transferred your entire holding(s) of Senior Notes referred to below, you should immediately forward this notice to the purchaser or transferee or to the stockbroker, bank or other agent through whom the sale or transfer was effected for transmission to the purchaser or transferee.

THIS ANNOUNCEMENT MAY CONTAIN INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION (EU) 596/2014 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL OF 16 APRIL 2014 ON MARKET ABUSE (AS AMENDED) (“EU MAR”) AND REGULATION (EU) 596/2014 AS IT FORMS PART OF DOMESTIC LAW IN THE UNITED KINGDOM BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED (“EUWA”) AND AS FURTHER AMENDED BY THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019 (“UK MAR” AND, TOGETHER WITH EU MAR, “EU/UK MAR”).

NOTICE FROM THE ISSUER OF OPTIONAL REDEMPTION

PPC ZEUS DESIGNATED ACTIVITY COMPANY, a designated activity company incorporated with limited liability in Ireland under registered number 671216 and having its registered office at Fourth Floor, 3 George’s Dock, IFSC, Dublin 1, Ireland (the “Issuer”)

EUR 325,020,000 Fixed Rate Asset Backed Notes due 2029

(the “Senior Notes”)

EUR 145,421,781.97 Fixed Rate Notes due 2029

(the “Junior Notes” and, together with the Senior Notes, the “Notes”)

To: The Senior Noteholders

Citibank N.A, London Branch (the “Note Trustee”, the “Security Trustee” and the “Principal Paying Agent”)

Copy: Public Power Corporation S.A. (the “Junior Noteholder”)

This announcement is released by the Issuer and may contain inside information for the purposes of Article 7 of EU/UK MAR, encompassing information relating to the Senior Notes described above. For the purposes of EU/UK MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, including as it forms part of assimilated law in the UK by virtue of the EUWA, this announcement is made by the Directors of the Issuer.

Reference is made to the note trust deed dated 9 April 2021, constituting the Senior Notes and made between the Issuer and the Note Trustee (including the terms and conditions of the Senior Notes set out in Schedule 3 (Terms and Conditions of the Senior Notes) thereto (the “Conditions”)), as amended and restated pursuant to a deed of amendment and restatement dated 27 July 2023, as amended pursuant to a deed of amendment dated 16 July 2024 and as amended pursuant to a deed of amendment dated 16 July 2025 (the “Note Trust Deed”).

All terms and expressions used but not defined in this notice shall have the meanings ascribed to them as applicable in the Note Trust Deed or the master definitions and framework deed dated 9 April 2021 and made between, among others, the Issuer, the Seller and the Security Trustee, as amended pursuant to a deed of amendment dated 23 June 2021, as amended and restated pursuant to a deed of amendment and restatement dated 27 July 2023, as amended pursuant to a deed of amendment dated 16 July 2024 and as amended pursuant to a deed of amendment dated 16 July 2025 (the “Master Definitions and Framework Deed”).

The Issuer hereby irrevocably notifies you that in accordance with Senior Note Condition 5.3 (Redemption at the option of the Junior Noteholder) and pursuant to a written direction dated 16 April 2026 the Junior Noteholder (the “Written Direction”) has directed the Issuer to redeem in whole the Senior Notes on 23 April 2026 (the “Redemption Date”) at the then Senior Note Principal Amount Outstanding, together with any accrued but unpaid interest (if any) to the Business Day fixed for the redemption, subject to the payment of any amounts required to be paid in priority or pari passu with the Senior Notes in accordance with the Post-Amortisation Priority of Payments.

The redemption of the Senior Notes is subject to satisfaction of the conditions listed in Senior Note Condition 5.3 (Redemption at the option of the Junior Noteholder) including, for the avoidance of doubt, the Written Direction.

The Issuer hereby further notifies you that on and after the Redemption Date there will be sufficient amounts standing to the credit of the Accounts to pay any amounts required to be paid in priority or pari passu with the Senior Notes in accordance with the Post-Amortisation Priority of Payments.

This notice and any non-contractual obligations arising out of or in connection with it shall be governed by, and construed in accordance with, English law.

This notice does not constitute an offer to sell or the solicitation of an offer to subscribe for or otherwise acquire any securities in any jurisdiction. No person has been authorised to give information, or to make any representation in connection therewith, other than as contained herein. The delivery of this notice at any time does not imply that the information in it is correct as at any time subsequent to its date.

For further information, please contact the Issuer at the address below.

PPC Zeus Designated Activity Company

Fourth Floor

3 George’s Dock IFSC

Dublin 1 Ireland

Attention:  The Directors

Email: Ireland@wilmingtontrust.com Tel: +353 1 6125550

Yours faithfully

Director of

PPC ZEUS DESIGNATED ACTIVITY COMPANY

as Issuer 

Project Zeus – Signature Page to Notice from the Issuer of Optional Redemption of the Senior Notes

2309980  16-Apr-2026 CET/CEST