Announcement

To inform investors, ELLAKTOR SA wishes to make the following announcement - comment on a news report from its subsidiary AKTOR SA, issued today:

“Announcement – Comment on a news report

Following news reports on the contract agreement entitled ‘Construction of new motorway section Demir Kapija – Smokvica as part of Pan-European Corridor X', the Company states that, to date, it has not been notified of any prosecution and, therefore, is unaware of its contents, should such a prosecution actually exist.

Please note the following concerning the press reports:

1.       Following an audit, the judicial authorities of Skopje found, as early as 2014, that they did not suspect that any offence had been committed and therefore closed the case.

2.       This case is the same as that reported on by the press back in 2014, for which the judicial authorities of Skopje have issued a definitive ruling.

3.      As regards the procedure used to award the project concerned, AKTOR participated in an international tender, for which a total of 15 international contractors submitted bids. Please note that the tender procedure was also observed by a representative of the European Commission, as well as by representatives of the banks that financed the project, namely representatives of the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD).  The Company was awarded the project following submission of a final bid of EUR 210,148,177.23, and the difference from the second lowest bidder was EUR 10,849,719.77. The other bids were much higher, the last bidder on the list having submitted a bid that exceeded that of AKTOR by EUR 181,101,890.74.

The project has been, both during the tender procedure and its implementation phase, under the supervision of the Commission and the financing banks (ΕΙΒ, EBRD).

4.      From 2012 to late May 2017, AKTOR implemented the project in accordance with the contractual specifications, as attested by the certificates issued by the independent supervising engineer of the French-Italian company-consortium EGIS-IRD, which the project owner has appointed as supervisor. Ninety-six percent of the physical objective of the project and 91.5% of the financial objective has been completed.”

Kifissia, 8 June 2017