Hellenic Petroleum Holdings S.A.

Quarterly Report • Sep 30, 2015

H E L L E N I C P E T R O L E U M S.A.

A.R.M.A.E 2443/06/B/23

54 AMALIAS AVE - 10558 ATHENS

www.hellenic-petroleum.gr Date of improval of nine month financial statements by Board of Directors NOVEMBER 7 2007

1.1 BALANCE SHEETS		GROUP		COMPANY	1.4 CASH FLOW STATEMENTS		GROUP	COMPANY
(Amounts in thousands of €)	30/9/2007	31/12/2006	30/9/2007	31/12/2006	(Amounts in thousands of €)	1/1/2007-	1/1/2006-	1/1/2007-	1/1/2006-
						30/9/2007	30/9/2006	30/9/2007	30/9/2006
ASSETS
Tangible and intangible assets	1.529.476	1.497.604	693.649	668.418	Cash flows from operating activities
Investments in affiliated companies	382.144	366.165	692.234	692.054	Profit before tax	351.810	314.939	283.111	259.794
Inventories	1.329.031	1.206.683	1.209.679	1.107.490	Adjustments for:
Trade and other receivables	1.175.604	1.049.763	877.106	828.103	Depreciation and amortisation of tangible and intangible assets	102.222	112.486	59.851	69.952
Cash and cash equivalents	210.145	170.490	59.579	37.878	Amortisation of government grants	(3.082)	(4.696)	(2.510)	(4.155)
Other assets	106.580	72.780	26.736	3.839	Financial (income)/ expenses	30.586	25.508	17.246	11.860
TOTAL ASSETS	4.732.980	4.363.485	3.558.983	3.337.782	Share of operating profits of associates and dividends	(15.977)	(8.866)	(8.662)	(13.443)
					Provisions	37.584	14.058	31.494	3.554
EQUITY AND LIABILITIES					Profit / Loss on sale of fixed assets	(280)	-3076	-	-3095
Long term liabilities	695.456	562.186	482.252	458.793	Foreign exchange (gains) / losses	(17.861)	(12.118)	(17.322)	(6.412)
Short term borrowings	737.006	895.661	294.108	426.511		485.002	438.235	363.208	318.055
Other current liabilities	803.101	508.028	710.472	422.571
Total liabilities (a)	2.235.563	1.965.875	1.486.832	1.307.875
Share capital	666.285	666.285	666.285	666.285
Share premium	353.796	353.796	353.796	353.796	Changes in working capital
Other equity	1.355.264	1.264.829	1.052.070	1.009.826	(Increase) / decrease in inventories	(120.886)	(98.432)	(102.188)	(105.944)
Capital and reserves attributable to Company Shareholders	2.375.345	2.284.910	2.072.151	2.029.907	(Increase) / decrease in trade and other receivables	(123.436)	(56.660)	(66.062)	67.138
Minority interest	122.072	112.700	-	-	Increase / (decrease) in payables	144.059	(245.862)	169.181	(225.929)
Total equity (b)	2.497.417	2.397.610	2.072.151	2.029.907	Income tax paid	(5.688)	(165.753)	-	(152.303)
TOTAL EQUITY AND LIABILITIES (α) + (b)	4.732.980	4.363.485	3.558.983	3.337.782	Net cash (used in) / generated from operating activities (a	379.051	(128.472)	364.139	(98.983)

					30/9/2007	30/9/2006	30/9/2007	30/9/2006
				Provisions	37.584	14.058	31.494	3.554
				Cash flows from investing activities
				Purchase of property, plant and equipment & intangible assets	(135.095)	(73.607)	(85.092)	(39.148)
				Dividends received	-	-	13.383	13.443
	GROUP
30/9/2007	30/9/2006	30/9/2007	30/9/2006	Investments in associates	-	(526)	(182)	(526)
				Available for sales financial assets	(457)	-	-	-
345.835	319.462	98.290	66.158	Cash flows from financing activities
				Proceeds / (payments) from long term borrowings	98.858	(12.195)	(7.135)	(8.922)
273.558	224.210	87.597	43.567	(a)+(b)+(c)	42.221	(13.013)	24.188	(22.027)
				Cash & cash equivalents at the beginning of the period	170.490	193.630	37.878	75.956
				Exchange gains / (losses) on cash & cash equivalents	(2.566)	(2.917)	(2.487)	(2.917)
				Net increase / (decrease) in cash & cash equivalents	42.221	(13.013)	24.188	(22.027)
	COMPANY
30/9/2007	30/9/2006	30/9/2007	30/9/2006	1.3 STATEMENTS OF CHANGES IN EQUITY
				(Amounts in thousands of €)	GROUP		COMPANY
				Dividends	(131.423)	(131.417)	(131.423)	(131.417)
274.374	251.799	65.071	33.625	Other equity movements	(33)	(758)	-	-

1.2 INCOME STATEMENTS		GROUP			Cash from sale of plant and equipment & tangible assets	424	4.046	-	3.577
(Amounts in thousands of €)	1/1/2007-	1/1/2006-	1/7/2007-	1/7/2006-	Interest received	14.855	11.423	8.479	7.568
	30/9/2007	30/9/2006	30/9/2007	30/9/2006	Investments in associates	-	(526)	(182)	(526)
					Available for sales financial assets	(457)	-	-	-
Sales	5.913.155	6.126.926	2.116.195	2.022.920	Net cash used in investing activities (b)	(120.273)	(58.664)	(63.412)	(15.086)
Gross profit / (losses)	633.021	579.428	207.729	153.908
Earnings Before Interest, Taxes, Depreciation and Amortisation
(EBITDA)	443.533	431.948	134.732	102.346
Earnings Before Interest Taxes (EBIT)	345.835	319.462	98.290	66.158	Cash flows from financing activities
Profit before income tax	351.810	314.939	109.552	59.925	Net movement in short term borrowings	(139.150)	327.586	(112.856)	224.729
Income tax expense	78.252	90.729	21.955	16.358	Interest paid	(45.441)	(36.931)	(25.725)	(19.428)
Profit for the period	273.558	224.210	87.597	43.567	Dividends paid	(130.824)	(104.337)	(130.823)	(104.337)
					Proceeds / (payments) from long term borrowings	98.858	(12.195)	(7.135)	(8.922)
Attributable to:					Net cash generated from / (used in ) financing activities (c )	(216.557)	174.123	(276.539)	92.042
Equity holders of the Company	264.780	214.737	83.682	40.128
Minority Interest	8.778	9.473	3.915	3.439	Net increase / (decrease) in cash & cash equivalents
	273.558	224.210	87.597	43.567	(a)+(b)+(c)	42.221	(13.013)	24.188	(22.027)
Basic and diluted earnings per share (expressed in Euro per share)	0,87	0,70	0,27	0,13

1.2 INCOME STATEMENTS		COMPANY			Cash & cash equivalents at end of the period	210.145	177.700	59.579	51.012
(Amounts in thousands of €)	1/1/2007-	1/1/2006-	1/7/2007-	1/7/2006-
	30/9/2007	30/9/2006	30/9/2007	30/9/2006	1.3 STATEMENTS OF CHANGES IN EQUITY
					(Amounts in thousands of €)		GROUP	COMPANY
Sales	5.472.527	5.699.346	1.944.930	1.830.602		30/9/2007	30/9/2006	30/9/2007	30/9/2006
Gross profit	438.881	391.199	129.741	79.991	Total equity at beginning of the period (1.1.2007 and 1.1.2006)	2.397.610	2.256.462	2.029.907	1.948.315
Earnings Before Interest, Taxes, Depreciation and Amortisation					Dividends	(131.423)	(131.417)	(131.423)	(131.417)
(EBITDA)	334.225	321.752	87.281	55.511	Cash flow Hedges	(42.295)	6.254	(42.295)	6.254
Earnings Before Interest Taxes (EBIT)	274.374	251.799	65.071	33.625	Other equity movements	(33)	(758)	-	-
Profit before income tax	283.111	259.794	74.378	25.568	Profit net of taxes for the period	273.558	224.210	215.962	184.294
Income tax expense	67.149	75.500	16.377	11.573		2.497.417	2.354.751	2.072.151	2.007.446
Profit for the period	215.962	184.294	58.001	13.995
Basic and diluted earnings per share (expressed in Euro per share)	0,71	0,60	0,19	0,05

FURTHER INFORMATION

	GROUP	COMPANY
Sales of good and services	749.050	2.397.116
Purchases of good and services	95.970	49.632
Receivables	155.371	330.025
Payables	3.389	11.465
Board members and key management
personell remuneration & other benefits	2.151	2.151
Amounts due/from Board members and
key management personell	- -

	Athens, November 7 2007
--	-------------------------	--

FINANCIAL DATA AND INFORMATION FOR THE PERIOD FROM 1 JANUARY TO 30 SEPTEMBER 2007

In accordance with decision of the Board of Directors of the Capital Market Commission 2/396/31/8/2006

Website:

The finacial data and information contained below is only for general information purposes regarding the financial position and results of HELLENIC PETROLEUM SA. Therefore, we recommend the users of that financial data and information, before making any investment decision,or proceeding to any transaction with the company, to obtain the necessary information, where the financial statements in accordance with International Financial Reporting Standards are available, together with the auditors' report, when required.

1. List of principal consolidated subsidiaries and associates included in the condensed interim consolidated financial statements:

2.The Parent company HELLENIC PETROLEUM has not been subject to a tax audit for the fiscal years 2002 up to 2006 and for the most important subsidiary companies from 2005 up to 2006. 3. The accounting policies used in the preparation of the condensed interim consolidated financial statements for the six month period ended 30 September 2007 are consistent with those applied for the preparation of the consolidated published accounts for the year ended 31 December 2006. Group applies THE IFRS STABLE PLATFORM 2005 from 1 January 2005. 4. There are no restrictions in title on property, plant and equipment . 5. The Company is involved in a number of legal proceedings and has various unresolved claims pending arising in the ordinary course of business. Based on currently available information, management believes the outcome will not have a significant effect on the company's operating results or financial position. 6. Number of employees at 30/9/2007 in Greece: Company :2.466, Group :3.451 ( 30/6/2006 Company :2.519, Group :3.506. 7. At its meeting held on 8 August, 2007 during which the Board of Directors approved the Condensed Interim Consolidated Financial Statements of the Group for the six month period ended 30 June 2007, the Board proposed and approved an interim dividend for the 2007 financial year of €0,15 per share, the relating amounts of which have been paid to the shareholders of the company on 20/9/2007. 8.The companies HELLENIC PETROLEUM BULGARIA (HOLDINGS)LTD, HELLENIC PETROLEUM SERBIA (HOLDINGS)LTD, HELLENIC PETROLEUM GEORGIA (HOLDINGS) LTD are consolidated for the first time in the Group. 9.The related party transactions of the Group and the parent company with related companies (in thousands of €) are depicted in the following table below:

CHAIRMAN OF BOARD CHIEF EXECUTIVE OFFICER CHIEF FINANCIAL OFFICER FINANCIAL MANAGER

EFTHIMIOS N. CHRISTODOULOY PANAGIOTIS H. CAVOULAKOS ANDREAS N. SHIAMISHIS ATHANASIOS D. SOLOMOS

ID Number ΑΒ 049358 ID Number ΑΒ 649582 ID Number ΑΑ 010147 ID Number Κ. 134641

COMPANY NAME	COUNTRY OF	PARTICIPATION	METHOD OF	COMPANY NAME	COUNTRY OF	PARTICIPATION	METHOD OF
	REGISTRATION	PERCENTAGE	CONSOLIDATION		REGISTRATION	PERCENTAGE	CONSOLIDATION
HELLENIC PETROLEUM SA	GREECE	PARENT	FULL	VARDAX S.A	GREECE	63,00%	FULL
ΕΚΟ S.A	GREECE	100,00%	FULL	OKTA CRUDE OIL REFINERY A.D	FYROM	51.35%	FULL
ΕΚΟΤΑ KO	GREECE	49,00%	FULL	ASPROFOS S.A	GREECE	100,00%	FULL
ΕΚΟ NATURAL GAS	GREECE	100,00%	FULL	DIAXON S.A.	GREECE	100,00%	FULL
ΕΚΟ KALIPSO	GREECE	100,00%	FULL	POSEIDON S.A.	GREECE	100,00%	FULL
EKO BULGARIA	BULGARIA	100,00%	FULL	APOLLON S.A.	GREECE	100,00%	FULL
EKO-YU AD BEOGRAD	SERBIA	100,00%	FULL	ENERGIAKI THESSΑLONIKIS. S.A	GREECE	100,00%	FULL
EKO GEORGIA LTD	GEORGIA	97,40%	FULL	HELLENIC PETROLEUM FINANCE PLC	U.K	100,00%	FULL
HELPE. INT'L	AUSTRIA	100,00%	FULL	HELLENIC PETROLEUM RENEWABLE ENERGY SOURCES S.A	GREECE	100,00%	FULL
HELPE. CYPRUS	CYPRUS	100,00%	FULL	HELLENIC PETROLEUM BULGARIA (HOLDINGS) LTD	CYPRUS	100,00%	FULL
HELPE SERVICES LTD	CYPRUS	100,00%	FULL	HELLENIC PETROLEUM SERBIA (HOLDINGS) LTD	CYPRUS	100,00%	FULL
JUGOPETROL AD KOTOR	ΜONTENEGRO	54,35%	FULL	HELLENIC PETROLEUM GEORGIA (HOLDINGS) LTD	CYPRUS	100,00%	FULL
HELLENIC PETROLEUM CONSULTING	GREECE	100,00%	FULL	DEPA S.A.	GREECE	35,00%	EQUITY
GLOBAL ALBANIA S.A.	ΑLBANIA	99,96%	FULL	V.P.I S.A.	GREECE	35,00%	EQUITY
ELDA PETROL ALBANIA	ΑLBANIA	99,96%	FULL	Ε.Α.Κ.Α.Α	GREECE	50,00%	EQUITY
ELPET BALKANIKI S.A.	GREECE	63,00%	FULL