Motor Oil Hellas Corinth Refineries S A : Pricing of EUR 400 million Senior Notes due 2026

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO

THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA OR JAPAN

FOR IMMEDIATE RELEASE

MOTOR OIL (HELLAS) CORINTH REFINERIES S.A.

Pricing of EUR 400 million Senior Notes due 2026

MOTOR OIL (HELLAS) CORINTH REFINERIES S.A. (TICKER: MOH:GA) (the "Company") hereby announces the successful pricing of the offering of EUR 400 million aggregate principal amount of unsecured senior notes due 2026 at a coupon of 2.125% per annum (the "Notes") and at an issue price of 99.471% of their nominal value (the "Offering"). The size of the Offering has been increased from the EUR 350 million initially sought. The Notes will mature on 19 July 2026. The Offering is scheduled to settle on 19 July 2021, subject to the satisfaction of customary closing conditions.

The Company will use the proceeds of the Offering to redeem the EUR 350 million principal amount 3.250% senior notes due 2022 issued by MOTOR OIL FINANCE PLC (a wholly-owned subsidiary of the Company), including payment of accrued but unpaid interest on those notes, pay fees and expenses in connection with the Offering and for general corporate purposes.

Citigroup Global Markets Europe AG is acting as a Global Coordinator and Joint Bookrunner, Alpha Bank S.A., Eurobank S.A., Goldman Sachs Bank Europe SE, HSBC Continental Europe S.A., ING Bank N.V., J.P. Morgan AG, National Bank of Greece S.A., Nomura Financial Products Europe GmbH, Optima bank S.A. and Piraeus Bank S.A are acting as Joint Bookrunners in connection with the Offering.

Maroussi, 8 July 2021

The Board of Directors

DISCLAIMER

NOTE: This announcement is published in accordance with the applicable provisions of, amongst others, Regulation (EU) No 596/2014, Law 3556/2007 and the Rule Book (Regulation) of the Athens Exchange, each as amended and in force.

NOTHING IN THIS ANNOUNCEMENT CONSTITUTES AN OFFER OF SECURITIES FOR SALE OR A SOLICITATION OF AN OFFER TO BUY SECURITIES IN THE UNITED STATES OF AMERICA OR IN ANY JURISDICTION WHERE IT IS UNLAWFUL TO DO SO. THE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933 OR THE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OF AMERICA OR ANY OTHER JURISDICTION, AND THE SECURITIES MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES EXCEPT PURSUANT TO AN EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE U.S. SECURITIES ACT OF 1933 AND APPLICABLE STATE OR LOCAL SECURITIES LAWS.

The Offering is not being made, directly or indirectly, to the public in the Hellenic Republic (Greece). None of this announcement and any other documents or materials relating to the Notes referred to herein constitute an "offer of securities to the public" as defined in Regulation (EU) 2017/1129 (as amended and in force, the "Prospectus Regulation") for the purchase, sale or exchange of, or otherwise for an investment in, securities in the territory of Greece. Accordingly, neither this announcement nor any other documents or materials relating to the Notes have been or will be submitted to the Hellenic Capital Market Commission for approval pursuant to the Prospectus Regulation and the applicable provisions of Greek Law 4706/2020.

No offer of the Notes will be made in Greece, other than in accordance with an exemption under the Prospectus Regulation and the applicable provisions of Greek Law 4706/2020.

This announcement is not being distributed, nor has it been approved for the purposes of Section 21 of the Financial Services and Markets Act 2000 (the "FSMA") by an authorized person under the FSMA. This announcement is for distribution only to, and is only directed at, persons who (i) have professional experience in matters relating to investments (being investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Financial Promotion Order")), (ii) are persons falling within Article 49(2)(a) to (d) (high net worth companies, unincorporated associations, etc.) of the Financial Promotion Order, or (iii) are persons to whom an invitation or inducement to engage in investment activity within the meaning of Section 21 of the FSMA in connection with the issue or sale of any securities may otherwise lawfully be communicated or caused to be communicated (all such persons together being referred to as "relevant persons"). This announcement is directed only at relevant persons and must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity relating to the Notes is available only to relevant persons and will be engaged in only with relevant persons.

MIFID II product governance / High net worth retail investors, professional investors and ECPs target market: Solely for the purposes of each manufacturer's product approval process, the target market assessment in respect of the Notes has led to the conclusion that: (i) the target market for the Notes is eligible counterparties and professional clients and retail clients (each as defined in Directive 2014/65/EU (as amended, "MiFID II")) that are in a financial situation to be able to bear a loss of their entire investment in the Notes; (ii) all channels for distribution of the Notes to eligible counterparties and professional clients are appropriate; and (iii) the following channels for distribution of the Notes to such retail clients are appropriate - investment advice, portfolio management, non-advisedsales and pure execution services - subject to the distributor's suitability and appropriateness obligations under MiFID II, as applicable. Any person subsequently offering, selling or recommending the Notes (a "distributor") should take into consideration the manufacturers' target market assessment; however, a distributor subject to MiFID II is responsible for undertaking its own target market assessment in respect of the Notes (by either adopting or refining the manufacturers' target market assessment) and determining appropriate distribution channels, subject to the distributor's suitability and appropriateness obligations under MiFID II.