GEK TERNA S.A.

Replacement of B.o.D. member (Correct Repetition)

GEK TERNA S.A. informs the Investors that the Board of Directors of the Company, during its meeting on 26 April 2017 elected, pursuant to Codified Law 2190/20 and the provisions of article 17 and par. 3 of Article 16 of the Articles of Association, Mr. Gagik Apkarian son of Serop, of Australian Nationality, Investment advisor, as new non-executive member of the B.o.D., replacing Mr. Vassilios Delikaterinis, and for the remaining of his terms, which is until 30 June 2019.

The election of Mr. Apkarian will be announced at the next Shareholders General Asembly.

Following this, the Board of Directors now consists of the following persons:

  1.        Nikolaos Kampas,                         Chairman– Non-executive Member,
  2.        Konstantinos Vavaletskos,             Vice-Chairman – Executive Member,
  3.        Michail Gourzis,                            Vice-Chairman – Executive Member,
  4.        Angelos Benopoulos,                     Vice-Chairman – Executive Member,
  5.        Georgios Peristeris,                       Managing Director – Executive Member,
  6.        Dimitrios Antonakos,                     Executive Member, 
  7.        Emmanouil Vrailas,                        Executive Member,
  8.        Emmanouil Moustakas,                  Executive Member,
  9.        Georgios Perdikaris,                       Non-executive Member,
  10.       Gagik Apkarian,                            Non-executive Member,
  11.       Angelos Tagmatarhis,                     Independent Non-executive Member,
  12.      Apostolos Tamvakakis,                     Independent Non-executive Member,

There is no replacement of Mr. Delikaterinis as member of the Audit Committee, since the composition and the number of Members of this Committee fulfill the requirements of the provisions of article 37 of law Ν.3693/2008 and this Committee can continue its function with the remaining members.

The Audit Committee therefore consists of Messrs Nikolaos Kampas – non-executive member, Georgios Perdikaris – non-executive member and Angelos Tagmatarhis – independent non-executive member, who demonstrably has adequate knowledge of accounting and auditing.