Forthnet S A : ANNOUNCEMENT BOND CONVERSION

ANNOUNCEMENT

Forthnet S.A.

Athens, 05.02.2019

HELLENIC TELECOMMUNICATIONS & TELEMATICS APPLICATIONS SOCIETE ANONYME (hereinafter the «Company») announces the following:

The Company has issued a convertible bond loan of a total nominal value of € 70,124,679.90 with issuance date 11.10.2016 (hereinafter the «CBL»), by virtue of which 233,748,933 ordinary registered convertible bonds - of a nominal value of €0.30 each - were issued. Following previous conversions, as per the respective announcements of the Company, the convertible bonds now amount to 179,991,941 - of a nominal value of €0.30 each - (hereinafter the «Convertible Bonds»), which have been listed for trading in the Athens Stock Exchange (hereinafter «ATHEX»). Regarding the above, the Company informs the public that:

• 1. Further to the written notification received by Piraeus Bank, in its capacity as the authorized payment agent of the bondholders, during the 9th conversion period which ended on 30.01.2019, conversion rights were exercised for 8,723,237 convertible bonds of the Company into shares. Said conversion rights were exercised separately from each of the following bondholders: Piraeus Bank, National Bank of Greece, Alpha Bank and Attica Bank.

• 2. Following the exercise of the conversion right from the above bond holders of a total of 8,723,237 Convertible Bonds, the Company's share capital shall be raised by € 2,616,971.10 and 8,723,237 new ordinary registered shares shall be issued, of a nominal value of € 0.30 each (hereinafter the «New Shares »), according to the terms of the CBL program.

• 3. The Company's BoD, according to the Prospectus, by virtue of a respective decision shall register and certify the above share capital increase and shall proceed to any action necessary for the listing of the New Shares for trading in the ATHEX's Segment "Under Surveillance" and the delivery to the beneficiaries according to the provisions of the ATHEX Regulation and the respective implementation decisions.

  The Company shall duly inform on the respective decision of the Company's BoD on the registration and certification of the share capital increase for the New Shares approval of admission to trading with later announcements.

• 4. Upon completion of the above procedures, the Company's share capital shall amount to fifty one million seven hundred seventy-three thousand two hundred twenty-four Euro and twenty cents (€ 51,773,224.20) and shall be divided into one hundred seventy-two million five hundred seventy-seven thousand four hundred fourteen (172,577,414) ordinary registered shares, of a nominal value of € 0.30 each.

The present announcement is published in accordance with art. 17 of Regulation (EU) 596/2014 (MAR) and para. 4.1.3.6. of the Stock Exchange Regulation, as it stands.