MOTOR OIL (HELLAS) CORINTH REFINERIES S.A. hereby announces that the Extraordinary General Assembly which was held on March 22^nd, 2023 approved, among others, the granting, subject to conditions precedent, of two hundred and eighty thousand (280,000) Company shares free of payment to the three executive Board Directors and to three top Company executives pursuant to article 114 of the Law 4548/2018.

The General Assembly subsequently authorized the Company's Board to attend to the procedural matters for the transfer of the shares to the Investment Accounts the beneficiaries (all of them Persons Discharging Managerial Responsibilities - PDMRs - according to article 19 of the EU Regulation 596/2014) keep at the Dematerialized Securities System (S.A.T).

The Company's Board in its meeting dated June 13^th, 2023 verified the fulfillment of the conditions set by the General Assembly and defined the period June 15^th, 2023 – June 19^th, 2023 as the one during which the transfer of the said 280,000 shares to the executives' personal Investment Accounts will be effected by the means of free of payment Over-The-Counter transactions as follows: 150,000 Company shares to the Vice Chairman and CEO Mr. Yannis V. Vardinoyannis – 35,000 Company shares to each of the two Deputy CEOs Messrs. Ioannis N. Kosmadakis and Petros Tz. Tzannetakis – 20,000 Company shares to each of the rest three executives Messrs. Michael-Matheos J. Stiakakis (GM Refinery), Theofanis Chr. Voutsaras (GM Human Resources) and George J. Prousanides (General Counsel and Secretary of the Board).

The Company will use shares it already has in its portfolio acquired at an average price of EUR 17.468 per share. There will be no obligation on the executives' part to retain the shares granted to them for a specified period.

Lastly, the Company's Board in the same meeting mentioned above decided to suspend share buyback purchases during the ATHEX sessions that the transfers of the 280,000 shares take place.

Maroussi, 14 June 2023

The Board of Directors