Athens, April 27, 2017 – Following the announcement and publication of its Financial Statements for the year ended 31 December 2016 today and complying with article 4.1.4.4 of the Athens Stock Exchange Rulebook, Frigoglass S.A.I.C. informs investors that pursuant to the resolution of the Stock Markets Steering Committee of Athens Stock Exchange dated 14/4/2016, Frigoglass' shares continue to be in the ‘Under Surveillance' Segment. The placement of Frigoglass' shares into the ‘Under Surveillance' Segment was resolved by virtue of article 3.1.2.4 of the Athens Stock Exchange Rulebook as a result of Frigoglass' negative equity position and net losses that exceeded 30% of equity as of 31/12/2015. Frigoglass' placement under the ‘Under Surveillance' Segment has been effected as of 15/4/2016.

As per the remedial actions that have been taken towards the exit from the ‘Under Surveillance' Segment, on 13 April 2017, Frigoglass announced that it has reached a legally binding agreement on the key terms of the restructuring of its indebtedness with key stakeholders (which inter alia includes a rights issue to provide existing shareholders the opportunity to participate in the restructuring) in order to put in place a long-term sustainable capital structure.