Announcement

Comments on press reports

With regard to press reports stating that the signing of contracts between PPC and the large high voltage customers is included in the prior actions required for the September evaluation by the country's creditors, PPCS.A.announces the following:

1. Following the Decision of the General Meeting of Shareholders dated December 7, 2015, based on which certain tariffs were set for these customers, PPC has already signed contracts with 53 out of the 61 high voltage customers.
2. On top of that, the signing of contracts with two more customers is underway, with whom a relevant agreement has been already reached, whereas there is a standstill with respect to PPC proposals - for various reasons - with four companies which have significant overdues.
3. Finally, regarding the pricing of Aluminium of Greece and LARKO, for which there will be a special approach, the relevant procedure is underway.

Therefore, it is evident that there is no issue for the forthcoming evaluation, given that these specific pending issues concern the relations of PPC SA with its customers.

In addition, PPC points out that, in light of the mandatory reduction of its market share throughNOMEtype auctions, it goes without saying that since only PPC currently supplies electricity to all high voltage customers due to present conditions, these customers should not be taken into account in the calculation of PPC's share in the retail electricity market.

Athens, August 24, 2016