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Public Power Corporation S.A. Announces the successful pricing of its debut Sustainability-Linked Senior Notes due 2026

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES

Public Power Corporation S.A. (“PPC”) announces today the successful pricing of its inaugural international offering (the “Offering”) of € 650 million sustainability-linked senior notes due 2026 (the “Sustainability-Linked Notes” or “Notes”) at a coupon price of 3.875% and an issue price of 100%. The Notes will be issued pursuant to Article 59, paragraph 2 and Article 74 of Greek law 4548/2018 and Article 14 of Greek law 3156/2003 and will be governed by New York law. The proceeds from the Offering will be used to repay existing debt, for general corporate purposes and to pay costs and expenses related to the Offering. PPC intends to have the Sustainability-Linked Senior Notes listed on the Official List of Euronext Dublin and admitted to trading on the Global Exchange Market thereof, or on another appropriate trading venue in the European Union. The Offering is scheduled to settle on 18 March 2021, subject to the satisfaction of customary closing conditions.

HSBC Continental Europe S.A. and Goldman Sachs Bank Europe SE are acting as Joint Global Coordinators and Physical Bookrunners, Citigroup Global Markets Europe AG is acting as Joint Global Coordinator and Joint Bookrunner and Alpha Bank S.A, Ambrosia Capital Ltd, AXIA Ventures Group Limited, Credit Suisse Securities, Sociedad de Valores, S.A., Eurobank S.A, J.P. Morgan AG, National Bank of Greece S.A. and Piraeus Bank S.A. are acting as Joint Bookrunners in connection with the Offering. HSBC Continental Europe S.A. is also acting as Sustainability-Linked Bond Structuring Advisor.

PPC is the largest generator and supplier of electricity in Greece, as well as the sole owner of the electricity distribution network which is being operated by its 100% subsidiary Hellenic Electricity Distribution Network Operator S.A., providing electricity to approximately 6.1 million end-customers. For more than 70 years, PPC has been at the forefront of Greece’s power industry and an integral part of the country’s process of electrification. PPC is publicly listed and its shares are traded on the Main Market of the Athens Exchange with a market capitalization of approximately €2.1 billion as of March 11, 2021.

DISCLAIMER

NOTE: This announcement is published in accordance with the applicable provisions of, amongst others, Regulation (EU) No. 596/2014, Greek law 3556/2007 and the Rule Book (Regulation) of the Athens Exchange, each as amended and in force.

This announcement is not an offer to sell securities in the United States and not for distribution in the United States.

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