Piraeus Port Authority S A : Extension of validity of PPA S.A. Collective Labor Agreement

Piraeus, June 26^th 2020

PRESS RELEASE

Extension of validity of PPA S.A. Collective Labor Agreement

P.P.A. S.A. announces that today, Friday, on the 26th of June of 2020, the BoD Chairman Mr. YU Zenggang signed with the representatives of the PPA S.A.'s employees the prolongation of the validity of the company's Collective Labor Agreement. Both parties agreed to continue with the negotiations during summer and to reach an agreement about the new CLA the soonest possible.

The prolongation was agreed in order to facilitate the ongoing negotiations, without breaking the continuity of the CLAs regulating the employment and remuneration terms and conditions of PPA S.A.'s personnel and in order for the new Collective Agreement to include the optimal terms that will contribute to the development of the Company.