Hellenic Petroleum Holdings S.A.

Annual / Quarterly Financial Statement • May 27, 2021

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) The following financial data and information are only for general information purposes with regard to the financial position and results of HELLENIC PETROLEUM Group 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 FINANCIAL DATA AND INFORMATION FOR THE ΥΕΑR FROM 1 JANUARY 2021 TO 31 MARCH 2021 (Published in compliance to L.4/507/28.4.2009 for company's internet address, where the annual financial statements in accordance with International Financial Reporting Standards are available, together with the companies that prepare annual financial statements in accordance with IFRS) auditors' report. COMPANY A 8 , CHIMARRAS STR. - 15125 MAROUSI Head office Address: Board of Directors : Website : http://www.helpe.gr Approval date of the annual financial statements by the Board of Directors: 27 MARCH 2021 Other Board Members during the year STATEMENT OF FINANCIAL POSITION STATEMENT OF CASH FLOW COMPANY GROUP COMPANY (Amounts in thousands €) GROUP (Amounts in thousands €) 31/3/2021 31/12/2020 31/3/2021 31/12/2020 1/1/2021- 1/1/2020- 1/1/2021- 1/1/2020- 31/3/2021 31/3/2020 31/3/2021 31/3/2020 ASSETS Cash flows from operating activities Property, plant and equipment 3.368.517 3.379.813 2.752.646 2.766.635 Right-of-use assets 225.750 235.541 29.892 32.157 (Loss) / Profit before Tax 111.829 (459.772) 98.449 (499.285) Intangible assets 104.804 105.841 7.558 8.094 Other non-current assets 580.891 560.379 1.107.971 1.107.522 Adjustments for: Depreciation and impairment of property, plant and equipment and right-of-use assets 61.654 61.209 40.496 41.616 Inventories 1.086.847 694.410 988.426 599.613 Trade and other receivables 593.043 544.795 516.941 489.979 Amortisation and impairment of intangible assets 2.077 1.775 1.305 1.232 Income tax receivable 36.893 37.699 33.830 33.830 Amortisation of grants (220) (248) (144) (199) Assets held for sale 2.674 2.466 - - Finance expense 26.731 28.393 21.582 23.530 Derivative financial instruments 9.875 9.945 9.875 9.945 Share of operating profit of associates (19.687) (45.407) - - Provisions for expenses and valuation charges 123.684 12.568 124.012 6.224 Cash, cash equivalents and restricted cash 683.332 1.202.900 493.793 992.748 Investment in equity instruments 905 959 535 587 (Gain)/Loss from disposal of available for sale financial assets (208) 502 - - TOTAL ASSETS 6.693.531 6.774.748 5.941.467 6.041.110 Foreign exchange (gains) / losses (5.162) (2.262) (5.098) (2.295) Amortisation of long-term contracts costs (1.174) (1.388) (955) (1.216) (Gain)/Loss from disposal of Non Current Assets (149) (362) 52 - 299.375 (404.992) 279.699 (430.393) EQUITY AND LIABILITIES Share capital 666.285 666.285 666.285 666.285 Share premium 353.797 353.797 353.796 353.796 Retained earnings and other reserves 857.133 766.415 874.666 800.051 Equity attributable to equity holders of the parent 1.877.214 1.786.497 1.894.747 1.820.132 Non-controlling interests 62.028 62.340 - - TOTAL EQUITY 1.939.242 1.848.837 1.894.747 1.820.132 Changes in working capital (Increase) / decrease in inventories (393.200) 332.170 (389.296) 310.214 Interest bearing loans and borrowings 2.128.387 2.131.371 1.929.658 2.064.808 (Increase) / decrease in trade and other receivables (44.128) 105.311 (24.563) 102.967 Lease liabilities 191.273 201.136 27.685 30.563 Increase / (decrease) in payables (380.474) (254.144) (367.178) (229.076) Provisions and other long term liabilities 318.539 294.438 222.593 197.527 Less: Income tax paid 390 (3.590) - (795) Short-term Interest bearing loans and borrowings 799.359 744.561 672.855 494.675 Other short-term liabilities 1.316.731 1.554.405 1.193.929 1.433.405 Net cash generated from / (used in) operating activities (518.037) (225.245) (501.338) (247.083) Total liabilities 4.754.289 4.925.911 4.046.720 4.220.978 TOTAL EQUITY AND LIABILITIES 6.693.531 6.774.748 5.941.467 6.041.110 Cash flows from investing activities Purchase of property,plant and equipment & intangible assets (39.830) (35.532) (24.732) (24.360) STATEMENT OF COMPREHENSIVE INCOME FOR THE PERIOD Cash from sale of property, plant and equipment & tangible assets 133 665 29 - COMPANY Grants received 21 43 - - (Amounts in thousands €) GROUP 1/1/2021- 1/1/2020- 1/1/2021- 1/1/2020- Interest received 723 1.062 1.511 2.220 31/3/2021 31/3/2020 31/3/2021 31/3/2020 Dividends received - - - 150.000 Investment in associates - net - - (1.799) (10.000) Share capital issue expenses (4) - - - 1.722.327 1.918.964 1.572.464 1.740.600 - - - - Revenue from contracts with customers Proceeds from disposal of investments in equity instruments Gross profit 214.705 (368.129) 153.157 (433.332) Settlement of consideration of acquisition of further equity interest in subsidiary - - - - Operating profit 113.711 (479.048) 114.933 (478.050) Proceeds from disposal of assets held for sale - - - - Profit before Income Tax 111.829 (459.772) 98.449 (499.285) Prepayments for right-of-use assets (234) (215) - - Purchase of subsidiary, net of cash acquired - - - - Less : Taxes (21.452) 119.074 (24.444) 118.642 Net cash used in investing activities (39.193) (33.977) (24.991) 117.860 Profit for the period 90.377 (340.698) 74.005 (380.643) Profit attributable to: Owners of the parent 90.067 (339.809) Non-controlling interests 310 (889) Cash flows from financing activities 90.377 (340.698) Interest paid (8.765) (15.659) (15.956) (14.237) Dividends paid to shareholders of the Company (5) (76.215) (5) (76.215) Other comprehensive income / (loss) for the period, net of tax 707 (26.350) 610 (25.812) Dividends paid to non-controlling interests - - - - Total comprehensive income for the period 91.084 (367.048) 74.615 (406.455) Loans to affiliated companies - - - - Acquisition of treasury shares - - - - Participation of minority shareholders in share capital increase of subsidiary - - - - Total comprehensive income/(loss) attributable to: Owners of the parent 90.759 (366.098) Proceeds from borrowings 55.148 239.681 51.040 218.120 Non-controlling interests 325 (949) Payment of lease liabilities (12.684) (12.763) (3.263) (3.117) 91.084 (367.048) Repayments of borrowings (1.089) 68 (9.540) (152.002) Net cash generated from / (used in ) financing activities 32.605 135.112 22.276 (27.451) Basic and diluted earnings per share (in Euro per share) 0,29 (1,11) 0,24 (1,25) Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) Net (decrease) / increase in cash & cash equivalents (524.625) (124.110) (504.053) (156.674) 176.114 (416.113) 156.734 (435.202) STATEMENT OF CHANGES IN EQUITY COMPANY GROUP (Amounts in thousands €) 31/3/2021 31/3/2020 31/3/2021 31/3/2020 Cash and cash equivalents at the beginning of the period 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 Total comprehensive (loss) / income for the period 91.084 (367.049) 74.615 (406.455) Exchange gains / (losses) on cash and cash equivalents 5.056 6.564 5.098 6.498 Dividends to shareholders of the parent - - - - Dividends to non-controlling interests (637) - - - Participation of minority shareholders in share capital increase of subsidiary - - - - Share based payments - - - - Net (decrease) / increase in cash and cash equivalents (524.625) (124.110) (504.053) (156.674) Transfer of grant received to tax free reserves - - - - Acquisition of treasury shares - - - - Issue of treasury shares to employees - - - - Tax on intra-group dividends (38) - - - Share capital issue expenses (4) - - - - - - - Cash and cash equivalents at end of the period 683.332 970.652 493.793 738.388 Acquisition of non-controlling interests 1.939.242 1.959.524 1.894.747 1.832.380 Total equity at the end of the period ADDITIONAL INFORMATION 1. Νοte No. 25 of the interim consolidated financial statements includes all subsidiary and associated companies and their related information. 2. No company 10. The amount of provisions included in the Statement of Financial Position are as follows: GROUP COMPANY shares, (treasury shares), are owned either by the parent company or any of the subsidiaries as at the end of the period 3. With regards to tax audits carried a) for pending legal cases 25.107 7.287 out by Certified Auditors, all Group companies based in Greece have received unqualified Tax Compliance Reports by their respective statutory auditor, for β) for tax matters 2.401 155 fiscal years up to 2019 (inclusive). With regards to tax audits carried out by the Tax Authorities, tax audits have been completed as follows: a) for Hellenic 195.634 160.338 c) for SLI Petroleum S.A for years up to and including 2011, b) for former Hellenic Fuels SA for years up to and including 2011, c) for EKO S.A for years up to and d) for other provisions relating to expenses 140.528 140.528 including 2010. Notwithstanding the possibility of future tax audits, the Group's management believes that no additional material liability will arise as a result of unaudited tax years over and above the tax liabilities and provisions recognised in the consolidated financial statements for the period ended 31 March 2021 (Note 23 of the interim consolidated financial statements). 4. The consolidated financial statements of Hellenic Petroleum S.A. for the period ended 31 March 2021 have been prepared in accordance with International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board 11. Other comprehensive income for the period, net of tax, for the Group and the parent company is as follows: ("IASB"), as adopted by the European Union ("EU"), as outlined in Note 2 of the interim consolidated financial statements. Where necessary, comparative figures have been reclassified to conform to changes in the presentation of the current financial year. 5. As mentioned in Note 23 of the interim consolidated GROUP COMPANY financial statements, the Group's entities are involved in a number of legal proceedings and have various unresolved claims pending arising in the ordinary 31/3/2021 31/3/2020 31/3/2021 31/3/2020 course of business. Based on currently available information, Management believes that no additional material liability will arise over and above the tax Changes of the fair value of equity investment (41) (436) (39) (338) liabilities and provisions already recognised in the consolidated financial statements as at 31 March 2021. 6. Number of employees at 31/03/2021 in Greece: Currency translation differences and other movements 75 (216) - - Company: 2,135, Group: 2,939 (31/12/2020: Company: 2,148, Group: 2,956). Reduction in value of land - - - - Actuarial losses on defined benefit pension plans - - - - Fair value gains on cash flow hedges 649 (25.474) 649 (25.474) Derecognition of gains on hedges through comprehensive income - - - - Share of other comprehensive income of associates 24 (224) - - 707 (26.350) 610 (25.812) Net income/(expense) recognised directly in equity 12. Transactions and balances with related parties for the Group and the parent company (in thousands of €) are as follows: GROUP COMPANY Sales of goods and services 59.394 447.708 Purchases of goods and services 397.952 407.504 71.174 133.660 Receivables Payables 37.116 64.230 Board members and senior management remuneration & other benefits 1.686 1.666 Amounts due to/(from) Board members and senior management - - Athens, 27th of May 2021 CHIEF EXECUTIVE OFFICER CHIEF FINANCIAL OFFICER ACCOUNTING DIRECTOR ANDREAS N. SHIAMISHIS C. THOMAS STEFANOS I. PAPADIMITRIOU ID. Number ΑΑ 010147 ID. Number Π 062606 ID. Number ΑΚ 553436

ADDITIONAL INFORMATION

.		.
	Company: 2,135, Group: 2,939 (31/12/2020: Company: 2,148, Group: 2,956).

Currency translation differences and other movements	75	(216)	-	-
Reduction in value of land	-	-	-	-
Actuarial losses on defined benefit pension plans	-	-	-	-
Fair value gains on cash flow hedges	649	(25.474)	649	(25.474)
Derecognition of gains on hedges through comprehensive income	-	-	-	-
Share of other comprehensive income of associates	24	(224)	-	-
Net income/(expense) recognised directly in equity	707	(26.350)	610	(25.812)

	GROUP	COMPANY
Sales of goods and services	59.394	447.708
Purchases of goods and services	397.952	407.504
Receivables	71.174	133.660
Payables	37.116	64.230
Board members and senior management remuneration & other benefits	1.686	1.666
Amounts due to/(from) Board members and senior management	-	-

Athens, 27th of May 2021

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)

ANDREAS N. SHIAMISHIS C. THOMAS STEFANOS I. PAPADIMITRIOU ID. Number ΑΑ 010147 ID. Number Π 062606 ID. Number ΑΚ 553436