Investor Relations - 27.05.2015

Comment on a press article


                                                            ANNOUNCEMENT

Following a new press article concerning the management of PPC’s available cash, the Company repeats what has been announced on April 30th and more specifically that the Company places its available cash through Greek commercial banks based on the most competitive offers, risk diversification and taking into account cash flow needs for funding its operation and capex plan.
PPC also clarifies that the statement included in the said press article according to which “PPC is called upon till the end of May, that is within the current week, to deposit the advance payment amounting to EUR 200 million for the investment in Ptolemais and on the event that this amount is not paid, the contract shall be terminated”, is inaccurate. The Contract concerning the construction of Ptolemais Unit V provides that the advance payment of EUR 200 million should be paid within 10 working days from the issuance of the building permit, which is expected to be issued shortly by the Municipality of Eordaia. In any case, the amount of the advance payment is entirely secured.

Athens, May 27, 2015
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