Decision of the General Meeting dated June 17, 2020 in relation to Share Buyback

MOTOR OIL (HELLAS) CORINTH REFINERIES S.A. hereby announces that the Annual Ordinary General Meeting of June 17, 2020 approved the share buyback program in accordance with article 49 of the Law 4548/2018 and provided authorization to the Board of the Company to carry out any action necessary in connection to the procedural matters relating to the program. More specifically, the Assembly approved the purchase of up to 5,000,000 Company shares, at a maximum price of Euro 18 per share, minimum price of Euro 8 per share, and program duration from July 3, 2020 until May 27, 2022. The share purchases will be effected through the ATHEX Member PIRAEUS SECURITIES.

Maroussi, June 24, 2020

The Board of Directors