Exploitation rights of lignite

Announcement

Following the announcement of the European Commission for the agreement with the Hellenic Republic regarding the case of exploitation rights of lignite, PPC welcomes the final settlement of the case, which has been pending for many years.

The announcement does not create surprises for the main elements of the agreement, however PPC will be waiting for the clarification of its details with respect to its implementation, through the legislative initiative of the Greek Government. PPC highlights the positive aspect of the agreement regarding (i) the link of the selling prices of the forwards products with the prices that will be formed by the Market and (ii) the limited availability period of these products.

Based on these data, PPC estimates that the agreement will not have a material impact on its financial results.

Athens, September 13, 2021