Hellenic Petroleum S A : Announcement - Response to Press Reports on new HELPE Group Strategy

Following recent press reports referring to the transformation of HELLENIC PETROLEUM S.A. (the 'Company'), we would like to inform investors:

HELPE Group proceeded to update its strategy, taking into account developments in the Greek and international energy sector. In this context, we redefine and clarify our ESG objectives, as well as our investment plans. Furthermore, the upgrade of the Company´s corporate governance in accordance with the provisions of L.4706/2020 is in process, while various alternatives for the appropriate legal and organisational structure of the Group's entities are under review. These changes do not affect the Company's shareholding structure. The Company shall proceed to the relevant announcements once formal decisions and approvals are taken.

Issues relating to corporate governance and alignment with Law 4607/2020 are subject to the approval of the Extraordinary General Meeting of the Company's shareholders which is scheduled for 20th May 2021. The Company has timely proceeded with all required announcements/notifications in relation to the items of the agenda of the Extraordinary General Meeting while the supporting documentation is available on the Company's website (https://www.helpe.gr/en/investor-relations/shareholders-meetings/extraordinary-general-meeting/).