Public Power : Approval of existing debt refinancing as well as a new credit line by the Greek Banks

Specifically, the following were approved :

1. The refinancing of the existing syndicated bond loan currently amounting at € 1.2 bln with a new five year loan with no securities. Annual redemptions are provided for in the new loan, as it is common practice, while an amount corresponding to 60% of the loan will be repaid at the end of the 5 year period. The interest margin will be 5.80%, which will decrease in case of extraordinary prepayments (a percentage from disposal of assets or from securitization of receivables) on top of the annual redemptions, as follows :
• with extraordinary prepayments of € 75 mln, the interest margin decreases to 5.5%,
• with additional extraordinary prepayments of EUR € 45 mln, the interest margin decreases to 5.25% and
• with additional extraordinary prepayments of EUR € 80 mln, the interest margin decreases to a final 5%.

It is noted that the margin of the initial loan back in 2014 was 6.5%.

2. The refinancing of the existing syndicated bond loan currently amounting to € 175 mln. The tenor of the new loan will be 3 years without any redemptions, to be extended by 1 plus 1 year at the Banks' sole discretion, following PPC's request. The interest margin will be 5.75% compared to 5.80% of the existing loan and will have the same security, that is a floating charge over current and future receivables of PPC' s customers.
3. The provisions of a new credit line amounting to € 200 mln, which can be signed and used by the Company if needed for the repayment of the international bond maturing in 2019.

Athens, June 21, 2018