GEK TERNA S.A.

DECISIONS OF THE SHAREHOLDERS’ EXTRAORDINARY GENERAL ASSEMBLY HELD ON DECEMBER 9, 2019

Today, the 9th day of December 2019, the Shareholders of the company GEK TERNA S.A. held an Extraordinary General Assembly, in which 133 Shareholders holding 69,549,001 shares and voting rights, thus a percentage of 67.247 % of the share capital, participated and the following decisions were made:

Item 1: The General Assembly with 63,099,159 votes in favor (90.726 % of those present) and 6,449,842 against (9.274 % of those present), approved the proposed Remuneration Policy, for a four-year term, the full text of which is uploaded on the Company's website.

Item 2:  The General Assembly unanimously approved the recommendation to eliminate the third sentence of par. 3 of article 16 of the Articles of Association of the Company. Therefore, article 16 par. 3 of the Articles of Association will read as follows:

«The members of the Board of Directors are elected by the General Meeting of the shareholders of the Company for four years term of office. Exceptionally, the term of office of the Board of Directors shall be extended until the expiration of the deadline, within which the next immediate Ordinary General Meeting must be convened, but the term of office shall never exceed 5 years. The directors, shareholders or non-shareholders, may always be re-elected and freely revoked». 

Item 3: The General Assembly, approved the expansion of the Board Members by two new members and elected with 67,269,239 votes in favor (96.722 % of those present) and 2,279,762 against (3.278 % of those present), Mrs Penelope Lazaridou daughter of Sophoclis as new executive member of the Board of Directors, with a term of office as the other members, i.e. until June 30th, 2021 and with 67,269,239  votes in favor (96.722 % of those present) and 2,279,762 against (3.278 % of those present), Mr. Athanassios Skordas son of John as new independent non-executive member of the Board of Directors, who fulfills the conditions of independence as provided by the provisions of article 4 of Law 3016/2002, with a term of office as the other members, i.e. until June 30th, 2021.