MOTOR OIL (HELLAS) CORINTH REFINERIES S.A. hereby announces that the Annual General Assembly which was held on June 30^th, 2022 approved the granting of 200,000 of the treasury stock shares free of payment to the executive Directors of the Company pursuant to the article 114 of the Law 4548/2018.

According to the decision of the above General Assembly 100,000 Company shares will be granted to the Vice Chairman of the Board & Managing Director Mr. Yannis V. Vardinoyannis while the Deputy Managing Directors Messrs. Petros T. Tzannetakis and Ioannis N. Kosmadakis will be granted 50,000 Company shares each.

The Company will credit the personal S.A.T accounts of the three executive Directors with Company shares it already has in its portfolio which have been purchased in the context of the share buyback program approved by the Annual General Assembly of June 17^th, 2020 at an average price of EUR 13.52 per share.

The Company shares which will be granted to the entitled executive Directors are ordinary registered shares with voting rights incorporating all the rights provided by the Law 4548/2018 and the Articles of Association of the Company. There is no obligation on the Directors' behalf to retain the shares granted to them for a specified period.

Maroussi, 1 July 2022

The Board of Directors