Announcement of Business Developments (Completion of CYCLON HELLAS S.A. Spin Off)

Following a previous announcement dated March 31, 2015 MOTOR OIL (HELLAS) S.A. hereby announces that the separation of activities of CYCLON HELLAS S.A. has been approved by the relevant Competent Authority (Piraeus Chamber of Commerce & Industry).

The retail fuel business of CYCLON HELLAS S.A. along with the related assets have been transferred to AVINOIL S.A., a wholly owned subsidiary of MOTOR OIL (HELLAS) S.A., by the means of a share capital increase and subsequent amendment of article 5 of its Memorandum of Association.

The lubricants marketing & production business of CYCLON HELLAS S.A. along with the related assets have been transferred to a newly founded company under the name L.P.C. S.A., also a wholly owned subsidiary of MOTOR OIL (HELLAS) S.A., of which the Memorandum of Association bearing Protocol Number 5.483/04.06.2015 was approved.

Following the above, CYCLON HELLAS S.A. has been deleted from the General Electronic Commercial Registry (GEMI).

Maroussi, June 11, 2015

The Board of Directors