RESULTS OF TAX AUDIT FISCAL 2005-2011

Pursuant to article 4.1.3.1 of the Athens Exchange Regulations, ThPA SA announces that the ordinary tax audit for the years 2005-2011 has been completed.

According to the audit report, additional taxes and surcharges amounting to 2,749,045.11 Euros were attributed to the company, which were paid in November 2016 with reservation, as the payment of the imputed amounts does not imply the acceptance of pledged acts. THPA SA Administration filed an appeal to the Athens Administrative Court of Appeals, requesting (a) partial annulment of the imputed taxes and surcharges, as well as for most of the expenditures that were not recognized by the tax authorities, there are specific ministerial decisions and regulations, which explicitly indicate their recognition for tax deduction (b) the annulment of the imputed differences for the years 2005 - 2007 due to their limitation. The Company formed an additional provision of 796,678.26 Euros, which affected the results for the year 2016, so that the cumulative amount of the aforementioned provision formed will cover the maximum estimated risk from the final charge of the tax audit.