Motor Oil: The Board of Directors was formed into a House.

The new Board of Directors of Motor Oil was constituted in a House: during its meeting of July 1, 2022 as follows:

Vardis I. Vardinogiannis – President, Non-Executive Member

Ioannis V. Vardinogiannis – Vice President and CEO, Executive Member

Ioannis N. Kosmadakis – Deputy CEO, Executive Member

Petros J. Tzannetakis – Deputy CEO, Executive Member

Nikolaos Th. Vardinogiannis – Non-Executive Member

Georgios P. Alexandridis – Non-Executive Member

Niki D. Stoufi – Non-Executive Member

Panagiotis I. Konstantaras – Non-Executive Independent Member

Ourania N-P Aikaterinari – Non-Executive Independent Member

Dimitrios – Antonios A. Anifantakis – Non-Executive Independent Member

The term of office of the above Members of the Board of Directors is one year starting from the day after the General Assembly from which they were elected and extending until the end of the period within which the next Ordinary General Assembly must be convened and until the relevant decision is taken .

In addition, the Company’s Audit Committee was constituted in a Body on the same day as follows:

Chairman:

Mr. Panagiotis I. Konstandaras – Non-Executive Independent Member of the Board of Directors

Members:

Konstantinos N. Thanopoulos – Independent third party

Spyridon X. Kyritsis – Independent third party

The term of office of the Audit Committee is annual, i.e. equivalent to that of the new Board of Directors of the Company.

In addition, the Company’s Board of Directors appointed a joint Remuneration and Nominations Committee with responsibilities in accordance with articles 11 and 12 of Law 4706/2020 as follows:

Chairman:

Ourania N-P Aikaterinari – Non-Executive Independent Board Member

Members:

Dimitrios-Antonios A. Anifantakis – Non-Executive Independent Board Member

Niki D. Stoufi – Non-Executive Member of the Board of Directors

Finally, the Board of Directors appointed the Sustainable Development Committee as follows:

Chairman:

Ioannis V. Vardinogiannis – Executive Member of the Board of Directors

Members:

Petros T. Tzannetakis – Executive Member of the Board of Directors

Ioannis N. Kosmadakis – Executive Member of the Board of Directors

Michail-Matthaios I. Steiakakis – Refinery General Manager / Non Member of the Board of Directors

Ourania N-P Aikaterinari – Non-Executive Independent Member of the Board of Directors

Niki D. Stoufi – Non-Executive Member of the Board of Directors

The purpose of the Sustainable Development Committee is to oversee, monitor and approve the sustainable development strategy of the MOTOR OIL Group, set ESG targets and decide on corrective actions.

Decision of the General Assembly to purchase own shares

It is recalled that the Annual Ordinary General Meeting of June 30, 2022 approved the Company’s own share purchase program in accordance with article 49 of Law 4548/2018 and authorized the Board of Directors for any relevant action related to the program’s procedural issues.

In particular, the Assembly approved the purchase of up to 7,000,000 shares of the Company with a maximum price of 23 Euros/share, a minimum price of 8 Euros/share, and the duration of the program from July 8, 2022 to May 24, 2024.

Stock purchases will be made through the Members of the Athens Stock Exchange PIRAEUS AEPY and OPTIMA BANK.