Hellenic Petroleum Holdings S.A.

Earnings Release • Feb 24, 2022

FINANCIAL DATA AND INFORMATION FOR THE ΥΕΑR FROM 1 JANUARY 2021 TO 31 DECEMBER 2021 (Published in compliance to L.4/507/28.4.2009					The following financial data and information are only for general information purposes with regard to the financial position and the parent company. We, therefore, recommend to the reader, before making any investment decision, or proceeding to any transaction with the company, to refer to the			results of HELLENIC PETROLEUM Group and
for companies that prepare annual financial statements in accordance with IFRS) COMPANY	A			auditors' report. Board of Directors :	company's internet address, where the interim financial statements in accordance with International Financial Reporting Standards are available, together with the Ioannis Papathanasiou - Chairman of the Board		Anastasia Martseki - Member (From 17/05/2021)
8 , CHIMARRAS STR. - 15125 MAROUSI Head office Address: Website : http://www.helpe.gr Approval date of the annual financial statements by the Board of Directors: 24 FEBRUARY 2022			Nikolaos Vrettos - Member (From 30/6/2021) Andreas Shiamishis - Chief Executive Officer Lorraine Skaramaga - Member (From 30/6/2021) Georgios Alexopoulos - Member Panagiotis Tridimas - Member (From 30/6/2021) Theodoros-Achilleas Vardas - Member Alexandros Metaxas - Member Iordanis Aivazis - Member Alkiviadis-Konstantinos Psarras - Member
				Other Board Members during the year	Michail Kefalogiannis - Member (Until 17/05/2021) Loukas Papazoglou - Member (Until 17/05/2021) Theodoros Pantalakis - Member (Until 30/06/2021) Spiridon Pantelias - Member (Until 30/06/2021) Georgios Papakonstantinou - Member (Until 30/06/2021) Κonstantinos Papagiannopoulos - Member (Until 30/06/2021)
STATEMENT OF FINANCIAL POSITION (Amounts in thousands €)	GROUP 31/12/2021 31/12/2020	31/12/2021	COMPANY 31/12/2020	STATEMENT OF CASH FLOW (Amounts in thousands €)	Anastasia Makarigaki - Member (From 17/05/2021 until 30/06/2021)	1/1/2021-	GROUP 1/1/2020-	COMPANY 1/1/2021-	1/1/2020-
ASSETS Property, plant and equipment Right-of-use assets Intangible assets Other non-current assets	3.484.805 3.379.813 228.375 235.541 175.907 105.841 463.335 560.379	2.707.520 26.547 1.111 1.076.768	2.766.635 32.157 8.094 1.107.522	Cash flows from operating activities (Loss) / Profit before Tax Adjustments for:		31/12/2021 407.073	31/12/2020 (581.716)	31/12/2021 293.017	31/12/2020 (515.141)
Inventories Trade and other receivables Income tax receivable Assets held for sale	1.379.135 694.410 694.606 544.795 16.479 37.699 191.577 2.466	1.240.774 569.077 13.898 122.301	599.613 489.979 33.830 0	Amortisation and impairment of intangible assets Amortisation of grants Finance expense	Depreciation and impairment of property, plant and equipment and right-of-use assets	249.280 9.485 (830) 106.233	247.272 8.717 (1.110) 115.088	169.359 5.577 (662) 86.166	161.976 5.872 (797) 94.385
Derivative financial instruments Cash, cash equivalents and restricted cash Investment in equity instruments TOTAL ASSETS	92.143 9.945 1.052.618 1.202.900 504 7.779.484 6.774.748	92.143 843.493 959 6.693.669	9.945 992.748 37 587 6.041.110	Share of operating profit of associates Provisions for expenses and valuation charges (Gain)/Loss from disposal of available for sale financial assets Foreign exchange (gains) / losses Amortisation of long-term contracts costs (Gain)/Loss from disposal of Non Current Assets		(96.660) 216.409 (2.320) (16.245) (205) (2.353) 869.867	(29.827) 140.003 6.240 (4.950) 54 (1.590) (101.819)	- 238.677 - (16.007) (1.912) 7 774.222	- 119.937 - (4.988) 6.488 (3.518) (135.786)
EQUITY AND LIABILITIES Share capital Share premium Retained earnings and other reserves Equity attributable to equity holders of the parent	666.285 666.285 353.796 353.796 1.044.572 766.416 2.064.653 1.786.497	666.285 353.796 975.386 1.995.467	666.285 353.796 800.051 1.820.132
Non-controlling interests TOTAL EQUITY Interest bearing loans and borrowings	64.402 62.340 2.129.055 1.848.837 1.516.531 2.131.371	1.995.467 16.532	- - 1.820.132 21.279	Changes in working capital (Increase) / decrease in inventories (Increase) / decrease in trade and other receivables		(690.373) (144.076)	315.524 192.071	(642.101) (174.616)	298.461 178.198
Lease liabilities Provisions and other long term liabilities Short-term Interest bearing loans and borrowings Other short-term liabilities	201.795 201.136 355.834 281.784 1.474.493 744.561 2.101.776 1.567.059	62.074 1.621.617 8.216 4.614.682	4.026 2.456.081 9.284 2.437.125	Increase / (decrease) in payables Less: Income tax paid Net cash generated from / (used in) operating activities		226.924 8.032 270.374	21.354 23.133 450.263	163.336 13.145 133.986	22.769 33.170 396.812
Total liabilities TOTAL EQUITY AND LIABILITIES	5.650.429 4.925.911 7.779.484 6.774.748	6.323.121 8.318.588	4.927.795 6.747.927
STATEMENT OF COMPREHENSIVE INCOME FOR THE PERIOD (Amounts in thousands €)	GROUP		COMPANY	Cash flows from investing activities Purchase of property,plant and equipment & intangible assets Cash from sale of property, plant and equipment & tangible assets Grants received		(400.441) 6.370 70	(295.261) 2.803 337	(112.261) 43 -	(208.118) 4.846 -
	1/1/2021- 1/1/2020- 31/12/2021 31/12/2020	1/1/2021- 31/12/2021	1/1/2020- 31/12/2020	Interest received Dividends received Investment in associates - net Share capital issue expenses		5.356 6.525 - (132)	5.646 9.465 - (51)	7.719 54.809 (9.465) -	9.727 161.533 (12.043) -
Revenue from contracts with customers Gross profit / (loss) Operating profit / (loss) Profit / (loss) before Income Tax	9.222.235 5.781.791 875.918 (35.982) 400.290 (501.404) 407.073 (581.716)	8.425.535 562.438 340.367 293.017	5.114.813 (302.364) (477.277) (515.141)	Proceeds from disposal of investments in equity instruments Proceeds from disposal of assets held for sale Prepayments for right-of-use assets	Settlement of consideration of acquisition of further equity interest in subsidiary	- (2.400) 2.649 (280)	- - - (1.035)	- - - -	- - - -
Less : Taxes Profit / (loss) for the year	(65.916) 185.101 341.157 (396.615)	(63.336) 229.681	176.377 (338.764)	Purchase of subsidiary, net of cash acquired Net cash used in investing activities		6.296 (375.986)	- (278.096)	- (59.156)	- (44.055)
Profit attributable to: Owners of the parent Non-controlling interests	337.444 (395.827) 3.713 (788)			Cash flows from financing activities
Other comprehensive income / (loss) for the year, net of tax Total comprehensive income for the year	341.157 (396.615) (26.257) (3.036) 314.900 (399.651)	(19.607) 210.074	(3.530) (342.294)	Interest paid Dividends paid to shareholders of the Company Dividends paid to non-controlling interests Participation of minority shareholders in share capital increase of subsidiary		(94.420) (30.320) (1.635) -	(100.003) (152.647) (1.401) 34	(87.728) (30.320) - -	(98.323) (152.647) - -
Total comprehensive income/(loss) attributable to: Owners of the parent Non-controlling interests	311.165 (398.840) 3.735 (811)			Proceeds from borrowings Payment of lease liabilities Repayments of borrowings Net cash generated from / (used in ) financing activities		586.620 (42.166) (479.426) (61.347)	1.419.247 (44.477) (1.167.609) (46.856)	470.647 (10.381) (537.249) (195.031)	1.412.971 (11.781) (1.342.771) (192.551)
Basic and diluted earnings per share (in Euro per share)	314.900 (399.651) 1,10 (1,30)	0,75	(1,11)	Net (decrease) / increase in cash & cash equivalents		(166.960)	125.312	(165.262)	160.206
Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA)	657.221 (253.425)	515.303	(310.666)
STATEMENT OF CHANGES IN EQUITY (Amounts in thousands €)	GROUP 31/12/2021 31/12/2020	31/12/2021	COMPANY 31/12/2020	Cash and cash equivalents at the beginning of the year		1.202.900	1.088.198	992.748	888.564
Total equity at beginning of the year 1/1/2021 & 1/1/2020	1.848.837 2.326.573	1.820.132	2.238.835	Exchange gains / (losses) on cash and cash equivalents		16.678	(10.608)	16.007	(4.489)
Total comprehensive (loss) / income for the year Dividends to shareholders of the parent Dividends to non-controlling interests	314.900 (399.651) (30.564) (76.409) (1.673) (1.432)	210.074 (30.564)	(342.294) (76.409) - -	Net (decrease) / increase in cash and cash equivalents		(166.960)	125.312	(165.262)	108.673
Other Movements Total equity at the end of the year	(2.445) (244) 2.129.055 1.848.837	(4.175) 1.995.467	- 1.820.132	Cash and cash equivalents at end of the year		1.052.618	1.202.902	843.493	992.748

Net income/(expense) recognised directly in equity	(26.257)	(3.036)	(3.500)	(5.668)
Share of other comprehensive income of associates	(3.930)	1.440	-	-
Derecognition of gains on hedges through comprehensive income	(31.794)	25.077	(31.794)	25.077
Fair value gains on cash flow hedges	24.973	(22.008)	29.802	(27.398)
Actuarial losses on defined benefit pension plans	(15.254)	(7.381)	(1.163)	(2.938)
Reduction in value of land	-	-	-	-
Currency translation differences and other movements	97	145	-	-

	GROUP	COMPANY
Sales of goods and services	418.900	2.838.792
Purchases of goods and services	724.804	754.385
Receivables	95.111	233.321
Payables	15.999	27.264
Board members and senior management remuneration & other benefits	5.818	5.724
Amounts due to/(from) Board members and senior management	-	-

H E L L E N I C P E T R O L E U M H O L D I N G S S. A. (former H E L L E N I C P E T R O L E U M S. A.) General Commercial Registry 000296601000 (A.R.M.A.E. 2443/06/B/86/23)

Athens, 24th of February 2022

CHIEF EXECUTIVE OFFICER CHIEF FINANCIAL OFFICER ACCOUNTING DIRECTOR ANDREAS N. SHIAMISHIS VASILEIOS G. TSAITAS STEFANOS I. PAPADIMITRIOU ID. NUmber AA 010147 ID. Number ΑΟ 552310 ID. Number AK 553436