Announcement  

RAE's Decision regarding Aluminium S.A. electricity price

Concerning the Decision 1/2013 of the Permanent Arbitration at RAE, which was taken by a majority vote, based on which a € 40.7/MWh* electricity price is set for ALUMINIUMS.A., PPC notes the following:

• It is not possible that any regulatory or arbitration decision obliges PPC, and any other company, to sell at a loss below cost.
• PPC, once it examines thoroughly said Decision, is obliged to explore any legal way of reaction in order to protect the interests of its shareholders and its customers-consumers.
• In any case, any impact on PPC's financial results will be reflected in the nine month 2013 Interim Financial Statements.

*said price includes fixed and variable cost of energy, Charges for Transmission System Usage, Ancillary Services, PSOs, and surcharges for the fees in favour of RAE and HTSO/LAGIE and does not include charges for RES/ETMEAR (Special fee for the reduction of CO2 emissions), Special Consumption Tax on electricity, Customs fee (DETE) and any other tax charges levied.

Athens, November 4, 2013