Keo PLC — Management Reports 2014

May 19, 2014

KEO: Interim Management Statement

KEO plc presents the first Interim Management Statement of the Company and its subsidiaries for the year 2014. The Interim Management Statement has been prepared in accordance with Article 11 of the Transparency Requirements (Securities Admitted to Trading on Regulated Market) Law of 2007 (N.190(I)/2007) and is presented below:

MAIN ACTIVITIES

The main activities of the Group, which have not been changed since the previous year. include the vinification of vine products, the production of beer and juices and bottling of natural mineral water which are distributed in the local market and overseas.

TURNOVER

The Group's turnover during the first 3 months of the year has increased by 10.7% in relation to the same period in the previous year.

The increase in turnover is attributable to both the local market and the overseas markets. The Group's turnover in the local market during the first 3 months of the year has increased by 6.13% in relation to the same period in the previous year. The Group's turnover from exports during the first 3 months of the year has increased by 129% in relation to the same period in the previous vear.

Due to the continuous uncertainty that is observed both in the local market and overseas, the Group is not in a position to predict whether the aforementioned trend, that has been observed in the Group's turnover during the first 3 months of the year, will continue for the remaining of the current year.

PROFITABILITY

The Group's loss during the first 3 months of the year has decreased by 30.3%. The improvement is mainly due to the increase in turnover and to actions taken by the Group for the reduction of its operating costs.

MAJOR RISKS AND UNCERTAINTIES

The major risks and uncertainties that the Group faces remain unchanged from those described in the Company's Annual Report for the year 2013.

SIGNIFICANT EVENTS AND TRANSACTIONS

There have been no other significant events and transactions, other than the normal operating activities of the Group, which had an impact on the financial position of the Company and its subsidiaries.