Following its previous announcement dated 27^th of March 2020, MOTOR OIL (HELLAS) CORINTH REFINERIES S.A. (The Company) hereby informs the investment public that the 10 day deadline for the submission of a request for a General Meeting to decide on the special permission allowing its subsidiary IREON INVESTMENTS LTD (the Seller) to proceed with a partial divestment from OPTIMA BANK S.A., lapsed on 6^th of April 2020.

The said special permission is valid for six months and within this period IREON INVESTMENTS LTD can proceed with the sale of OPTIMA BANK S.A. shares corresponding up to a 45% stake at a price of Euro 18.35 per share. The buyers of the OPTIMA BANK S.A. shares will be related to MOTOR OIL (HELLAS) S.A. parties, as these parties are defined in the articles 99 until 101 of the Law 4548/2018, the Executive Vice Chairman Mr. Yannis V. Vardinoyannis and the Non-Executive Director Mr. Demosthenes Vardinoyannis being among them.

The Board of MOTOR OIL (HELLAS) CORINTH REFINERIES S.A. set the offered price at Euro 18.35 per OPTIMA BANK S.A. share, having taken into consideration the fairness opinion report on OPTIMA BANK S.A. dated 18 March 2020 conducted by the audit firm Grant Thornton. The price of Euro 18.35 per share is considered in the Grant Thornton report as a true and fair price for the Company and its shareholders who are not related persons including the minority shareholders since this price falls within the price range of comparable values mentioned in the report (available in Greek language on the Company website www.moh.gr at the particular option News / 2020).

MOTOR OIL (HELLAS) CORINTH REFINERIES S.A. will inform the investment public regarding the progress of the above mentioned transactions.

The present announcement is issued in accordance with paragraph 2 of the Article 101 of the Law 4548/2018.

Maroussi, 7 April 2020

The Board of Directors