Resolutions of the Extraordinary General Meeting of the Shareholders of PPC S.A.

ANNOUNCEMENT

PUBLIC POWER CORPORATION S.A. announces that the Extraordinary General Meeting of the Shareholders of the Company was held on Tuesday, June 26, 2018, in accordance with the Invitation that have been posted on 24.05.2018 on the Company's website, https://www.dei.gr/Documents2/%CE%93%CE%95%CE%9D%CE%99%CE%9A%CE%95%CE%A3%20%CE%A3%CE%A5%CE%9D%CE%95%CE%9B%CE%95%CE%A5%CE%A3%CE%95%CE%99%CE%A3%202018/%CE%95%CE%93%CE%A3%2026062018/INVITATION%20to%20an%20EGM%2026062018.pdf

The Shareholders lawfully attending (in person or by proxy) the Extraordinary General Meeting were 158, representing  181,284,447 ordinary registered voting shares with a voting right out of a total of 232,000,000 ordinary registered voting shares, that is a quorum of  78.14%.

ITEM ONE: Decision making on: a) the spin-off of the two (2) lignite-fired generation Segments of PPC S.A. and the related assets, liabilities and human resources, under Law 4533/2018 [Official Gazette vol.Α' 75/27.4.2018] and Laws 2166/1993 and 2190/1920 as in force, b) the approval of the Financial Statements of the spin-off of PPC S.A. Segments dated 31.3.2018, along with their Appendices, c) the approval of the Assurance Reports of the book value of the Segments' assets and liabilities, dated 23.5.2018 prepared by the Certified Public Accountants-Auditors Mr. Konstantinos Evaggelinos (SOEL Reg. Number 13151) and Mr. Panagiotis Preventis (SOEL Reg. Number 14501). d) the approval of the Draft Spin-off Terms for the spin-off of the PPC S.A. lignite-fired generation Segments of Megalopoli and Meliti, which include the individual terms for the issuance of the shares for the contribution of PPC S.A. Segments, in compliance with Laws 4533/2018, 2166/1993 and 2190/1920, as in force, e) the approval of the Draft Articles of Incorporation of the two (2) new companies to which the PPC S.A. Segments will be contributed, and f) the acceptance of 13,200,000 new registered shares issued by the company to be incorporated under the trade name “LIGNITIKI MELITIS S.A.”, of a nominal value of 4.00 euros each, and of the 24,782,500 new registered shares issued by the company to be incorporated under the trade name “LIGNITIKI MEGALOPOLIS S.A.”, of a nominal value of 4.00 euros each, which grant to the contributing company, PPC S.A., the right to participate in the profits, in return for the aforementioned spin-off and contribution of each Segment.

Out of votes  181,284,447 in total with a voting right, 181,283,247 voted in favor (99.999%), 1,200 voted against ( 0.001%).

ITEM TWO: Authorizations - Appointments     

              -                Appointment of the Notary Public Mrs. Maria Tsaggari-Valvi in order to draft the notarial deeds for the spin-off of the two (2) PPC S.A. Segments, to draft the Articles of Incorporation of the two (2) new companies and to incorporate them, as well as to proceed to all required actions before the Management.

              -                Authorization granted to: a) the Chairman and Chief Executive Officer of PPC S.A., in order to sign the two (2) notarial deeds for the spin-off of the two (2) PPC S.A. Segments, and any other required document on account of the Company,

b) to Mrs. Liana Moumoutzi, Director of the Legal Department of PPC S.A. or/and Mrs. Antonia Koukouritaki, Attorney-at-Law of PPC S.A., in order to correct any omissions or inadvertent errors, deal with pending issues and submit the necessary documents to the Management and the General Commercial Registry (G.E.MI) with regard to and until the completion of the divestment, as provided for by Law 4533/2018.

Out of votes  181,284,447 in total with a voting right, 181,283,247 voted in favor (99.999%), 1,200 voted against (0.001%).

ITEM THREE: Pricing of High Voltage Customers.

Out of votes 181,284,447 in total with a voting right, 146,589,318 voted in favor ( 80.861%), 30,352,701 voted against (16.743%) and 4,342,428 (2.395%) voted abstention.

ITEM FOUR:  (postponed decision making on item 10 on the Agenda of the OGM dated 07.06.2018) Approval of the extension of the validity period of the EGM Resolution dated 7.12.2015 concerning the approval of volume discounts on the approved High Voltage tariffs for the period 2016-2017, on the approved tariffs for High Voltage customers until 28.2.2018. According to article 39 para. 3 of L. 2190/1920 the Shareholders lawfully attending (in person or by proxy) the Extraordinary General Meeting were 189, representing 186,348,581 ordinary registered voting shares out of a total of 232,000,000 ordinary registered voting shares, that is a quorum of 80,323%.

158 shareholders voted, representing 181,284,447 ordinary registered voting shares out of a total of 232,000,000 ordinary registered voting shares.

Out of 181,284,447 voting shares, 151,263,834 voted in favor (83.440%), 30,019,313 (16.559%) voted against and 1,300 voted abstained (0.001%).

Athens, June 27, 2018