Update regarding the partial divestment of the subsidiary IREON INVESTMENTS LTD from OPTIMA BANK A.E.

Following the announcements dated 17/11/2020 and 30/11/2020, MOTOR OIL (HELLAS) CORINTH REFINERIES S.A.  (henceforth “the Company”) hereby announces that the subsidiary company IREON INVESTMENTS LTD transferred 178,715 shares of OPTIMA BANK S.A. at a price of Euro 18.35 per share to related with the Company parties. The above number of 178,715 shares corresponds to 4.75% of the share capital of OPTIMA BANK S.A.

Furthermore, IREON INVESTMENTS LTD transferred 441,965 shares of OPTIMA BANK S.A. at the same price of Euro 18.35 per share to third parties. The above number of 441,965 shares corresponds to 11.75% of the share capital of OPTIMA BANK S.A.

Following the above, the participation of IREON INVESTMENTS LTD in OPTIMA BANK S.A. has been reduced to 29.42%.

It is noted that the transfer of an additional percentage of 3% (112,873 shares at a price of Euro 18.35 per share) is pending approval by the competent authorities which, if granted, will result in the reduction of IREON INVESTMENTS LTD participation in OPTIMA BANK S.A. to 26.42%

Maroussi, 31 December 2020

The Board of Directors