P.P.A. S.A.

Interim / Quarterly Report • Sep 26, 2016

PIRAEUS PORT AUTHORITY SOCIETE ANONYME

PPA S.A.

Company Registration Number 44259307000, Αkti Μiaouli 10 - Piraeus P.C. 185 38 FINANCIAL DATA AND INFORMATION FROM JANUARY 1, 2016 TO JUNE 30, 2016

In accordance with the Decision 4/507/28.04.2009 of the Board of Directors of the Capital Market Commission

Company's Web Site: www.olp.gr Bord of Directors: Date of approval of interim financial statements from the Board of Directors: September 26, 2016 WAN Min, President IP Sing Chi, Member (non executive) Certified Auditor Accountants Marinou Despina, Sourmbis Dimitris FU Chengqiu, Member (executive) Arvanitis Nikolaos, Member (non executive) Auditing firm: PrricewaterhouseCoopers S.A ZHU Jianhui, Member (non executive) Kouvaris Ioannis, Member (non executive) Type of auditor'sreport : Unqualified YE Weilong, Member (non executive) Liangos Athanasios, Member (non executive) FENG Boming, Member (non executive) Moralis Ioannis, Member (non executive) KWONG Che Keung Gordon, Member (non executive) 30.06.2016 31.12.2015 ASSETS Property, plant and equipment 254.464.367,52 261.098.568,04 Investment property 734.338,38 734.338,38 Intangible assets 34.615,96 50.522,36 Other non current assets 14.690.783,68 15.041.952,12 Inventories 2.135.819,21 2.196.957,54 01.01 - 30.06.2016 01.01 - 30.06.2015 Trade receivables 22.097.575,89 20.341.478,57 Other current assets 65.074.621,26 68.513.267,66 Total equity at the beginning of the period (01.01.2016 and 01.01.2015 respectively) 174.315.810,88 168.585.627,93 TOTAL ASSETS 359.232.121,90 367.977.084,67 Profit after income taxes 7.626.962,14 1.614.711,92 EQUITY AND LIABILITIES Other comprehensive loss after income taxes (18.422,24) (20.518,06) Share Capital (25.000.000 shares of € 2,00 each) 50.000.000,00 50.000.000,00 Dividends payable (2.474.993,09) (2.785.000,00) Other equity items 123.125.004,74 124.315.810,88 Total equity at the end of the period (30.06.2016 and 30.06.2015 respectively) 173.125.004,74 173.719.174,74 Equity attributable to shareholders of the parent (a) 173.125.004,74 174.315.810,88 Long term borrowings 71.499.999,99 74.499.999,99 Provisions/ Other long term liabilities 86.505.477,60 95.744.422,08 Short term borrowings 9.000.000,00 6.000.000,00 Other short term liabilities 19.101.639,56 17.416.851,71 01.01 - 30.06.2016 01.01 - 30.06.2015 Total liabilities (b) 186.107.117,15 193.661.273,79 Operating activities TOTAL EQUITY AND LIABILITIES (a)+(b) 359.232.121,90 367.977.084,67 10.950.639,98 1.839.889,29 Profit/ (Loss) before tax (continuing activities) Adjustments for: Depreciation and amortisation 7.044.248,91 7.090.583,84 Gains on disposal of property, plant & equipment and intangible assets - (148.853,03) Provisions (3.233.610,68) (2.900.064,91) Financial income (664.301,87) (365.129,14) 01.01 - 30.06.2016 01.01 - 30.06.2015 Decrease / (increase) in inventories 61.138,33 (116.307,71) Turnover 48.711.996,39 46.162.060,79 Decrease/ (increase) in accounts receivable 695.817,32 (3.546.569,43) Gross profit 12.035.032,19 12.710.556,30 Decrease in liabilities (except borrowings) (951.707,31) (3.943.935,12) Profit before taxes, investment and financial activities 10.286.338,11 1.474.760,15 Minus: Profit before tax 10.950.639,98 1.839.889,29 Interest and related expenses paid (351.994,86) (140.433,28) Profit after tax (Α) 7.626.962,14 1.614.711,92 Payments for staff leaving indemnities (432.379,01) (716.224,50) Other comprehensive income after taxes (B) (18.422,24) (20.518,06) Tax paid - (1.454.837,65) Total comprehensive income after taxes (A) + (B) 7.608.539,90 1.594.193,86 Net cash flows from operating activities (a) 11.383.049,02 (2.667.079,85) Earnings per share – basic and diluted (in €) 0,0646 0,3051 Profit before taxes, investment, financial activities and depreciation and amortisation 8.519.009,06 17.376.921,95 Investing activities Purchase of property, plant and equipment and intangible assets (819.543,68) (1.273.249,41) Procceds from the sale of property, plant and equipment 161.646,30 5.000,00 Interest received 969.257,81 514.754,72 Decrease in restricted cash 341.360,64 - Net cash flows from/ (used in) investing activities (b) 41.571,68 (142.345,30) Financing activities Net change in long-term borrowings - (3.000.000,00) Settelment of obligation from finance leases (190.919,57) (30.616,00) Net cash flows used in financing activities (c) (30.616,00) (3.190.919,57) Net increase/ (decrease) in cash and cash equivalents (a) + (b) + (c) (2.656.124,17) 8.049.784,15 Cash and cash equivalents at the beginning of the period 59.432.087,51 54.466.299,36 Cash and cash equivalents at end of the period 56.775.963,34 62.516.083,51 1. The Company has not been audited by the Tax Authorities for the years 2009 and 2010. The provision for unaudited years by the Tax Authorities amounted to € 1.500.000,00 (Note 29b and 33 ). 2. The Company's permanent and seasonal personnel as at 30.06.2016 amounted to 1.091 & 8 employees respectively (1.121 & 8 employees at 31.12.2015) 3. At the end of the current period there are no treasury shares held by the Company. In addition, a provision amounted to € 2,733,376.45 related to the compensation of beneficiaries of L.4331/2015 (GA Ferries S.A.) has been recorded (Note 14). 6. During the year 2010 the Company establisted two subsiadiaries named "SHIP REPAIR SERVICES P.P.A S.A." (NAYS P.P.A S.A.) and "INTERMODAL TRANSPORT AND LOGISTICS COMPANY S.A.", (LOGISTICS P.P.A. S.A.) The Company does not prepare consolidated financial statements due to imaterial net assets of its subsidiaries as at December 31, 2015. During the prior year decided the liquidation of the subsidiaries and the Company recorded an equal provision for their impairment (Note 5). 7. There are no other comprehensive income / (loss) of the Company that recorded directly to the Shareholders' Equity as at June 30, 2015. 8. The Company's capital expenditure for the period ended June 30, 2016 is disclosed to the note 4 of the financial statements. 9. The subsequent events after the June 30, 2016 are disclosed to the note 33 of the financial statements. 10. The accumulated income and expenses since the beginning of the current period as well as the Company' s trade accounts receivable and payable balances at the end of the current fiscal year that have resulted from the transactions with their related parties, and payable balances at the end of the current fiscal year that have resulted from the transactions with their related parties, according to IAS 24, are as follows: (Amounts in Euro) 0 0 8.768,31 0 513.870,60 f) Amounts owed by Managers and members of the Board of Directors 0 g) Amounts due to Managers and members of the Board of Directors 0 Piraeus, September 26, 2016 Ο ΠΡΟΕ∆ΡΟΣ ΤΟΥ ∆.Σ. & ∆ΙΕΥΘΥΝΩΝ ΣΥΜΒΟΥΛΟΣ THE CHAIRMAN OF THE BoD MANAGING DIRECTOR FU CHENGQIU PASSPORT No PE0608737 License No. Ο.Ε.Ε. 0003748 DATA FROM STATEMENT OF CHANGES IN EQUITY (COMPANY AND GROUP) DATA FROM STATEMENT OF CASH FLOWS (COMPANY AND GROUP) The purpose of the following information and financial data is to provide users with general financial information about the financial position and the results of operations of PIRAEUS PORT AUTHORITY S.A. ("Company"). Therefore, we recommend the users of the financial data and information, before making any investment decision or proceeding to any transaction with the Company, to obtain the necessary information from the website, where the separate financial statements, prepared in accordance with International Financial Reporting Standards as adopted by the E.U., are available, together with the auditors' report, when required. (Amounts in Euro) DATA FROM STATEMENT OF FINANCIAL POSITION (COMPANY AND GROUP) WAN MIN DATA FROM STATEMENT OF COMPREHENSIVE INCOME (COMPANY AND GROUP) ADDITIONAL DATA AND INFORMATION 5. There is no property, plant and equipment that has been pledged as security. PASSPORT No SE0235390 4. For pending lawsuits or cases submitted in arbitration, the Company has made relevant provisions of € 15,872,061.00. The provision for unaudited years by the Tax Authorities amounted to € 1,500,000.00 FINANCIAL DIRECTOR EKATERINI VENARDOU a) Income b) Expense c) Receivables d) Liabilities e) Fees of Managers and members of the Board of Directors