Update in connection with the fire incident of 17 September 2024

MOTOR OIL (HELLAS) S.A. hereby provides an update concerning the impact on its Refinery operations due to the fire incident which occurred on Tuesday 17 September 2024.

The Refinery unit affected was one of the two crude distillation units (CDU).

The damaged unit is undergoing restoration works aiming at the reinstatement of its operability. Even though no precise timeframe can be offered at this time, the initial estimate is that the repair works are expected to be completed within Q3 2025.

Until then a contingency plan is in place involving all necessary mitigating activities and the readjustment of the feedstock mix of the Refinery conversion units substituting crude with alternative feedstock such as fuel oil, naphtha and VGO. It is noted that the cumulative capacity of the Refinery conversion units exceeds the combined throughput capacity of its two crude processing units. Hence, the production capacity of the Company's Refinery during the period of the repair works is estimated at a range of 65-80% of the Refinery's total nominal capacity (i.e. crude plus other feedstock).

It is noted that the Company is comprehensively insured for property damages as well as for the loss of operational profits due to the interruption of operations as per usual market practice.

Maroussi, 7 November 2024