MOTOR OIL (HELLAS) S.A. (the Company) hereby announces that its wholly owned subsidiary under the legal name Elektroparagogi Soussaki Single Member S.A. has been renamed to Motor Oil Renewable Energy Single Member S.A. (MORE).

All non-oil activities of the Group of MOTOR OIL (HELLAS) S.A. related to energy (i.e. Renewable Energy Sources, participations in Power Production ventures, Floating Storage Regasification Unit, Energy & Natural Gas supply) will be merged into MORE.

Mr. Victor Papaconstantinou, until recently General Manager of Planning & Development of the Company, has been appointed General Manager of MORE. Mr. Papaconstantinou holds a Degree in Chemical Engineering from the National Technical University of Athens and an MBA from Warwick Business School. He is a Fellow in the Association of Chartered Certified Accountants. Over a 25-year period he has held senior and top managerial positions in energy, industrial and consulting companies.

Subsequently, the Company hereby announces the amendment of its organization chart with the creation of the Strategy General Division and the hiring of Mr. Georgios Triantafyllou for the position of General Manager. Mr. Triantafyllou holds a dual degree in Economics and History from Brandeis University and an MBA from MIT Sloan School of Management. Prior to joining the Company in July 2021, he worked for 13 years at Goldman Sachs' Investment Banking Division in London and New York, focusing on the Energy and Power sectors. In his last role at Goldman Sachs, he was Head of Southeastern Europe including Greece and Cyprus.

Maroussi, 28 July 2021

The Board of Directors