Disclosure regarding outcome of tax audit of “ELGEKA S.A. TradeDistributions-Representations-Industry” for fiscal years 2008, 2009 and 2010

Thessaloniki, April 7 th, 2017

The company “ELGEKA S.A. Trade-Distributions-Representations-Industry”, according to the Athens Stock Exchange regulation, par.4.1.3.1, regarding the conduction of partial tax audit for fiscal years 2008, 2009 and 2010 by Audit Authority for Large Enterprises, informs the investing public in detail for the following:

Our Company, after receiving the Notice of Tax Audit by Audit Authority for Large Enterprises with which determined temporarily total amount of tax to be charged (including surcharges and fines) of 2.198.067,39 euro, submitted Memorandum to Audit Authority, expressing its views on the audit findings, asking at the same time the acceptance of its relevant claims. Subsequently, the Company under the provisions of articles 57 to 61 of L.4446/2016 submitted modified – supplementary tax returns relating to the audited fiscal years and paid total taxes (including surcharges) amounting to 532.254,64 euro, i.e. 530.425,84 euro for income tax and 1.828,80 euro for stamp duty, so accepting part of the initial tax amount being charged.

After that, the Audit Authority having considered both the above submitted by the Company tax returns under the provisions of articles 57 to 61 of L.4446/2016 and also the Company’s claims submitted with the relevant Memorandum, has notified us today Friday, 07 April 2017, the relevant partial audit reports and corresponding definitive acts of corrective income tax assessment, ultimately attributing to the Company additional tax and fines (beyond those already declared and paid) of total amount 879.671,65 euro.

Since the Company considers as unfounded the charge of these additional taxes and fines, it reserves the right for the exercise of any legal rights.

It is noted that the accumulated provision that had formed by the Company in prior years for those fiscal years totaling in the amount of 445.360,00 euro, and therefore the amount that will burden the results of the year 2016 amounts to 85.065,84 euro.

After the last tax audit of fiscal years 2008, 2009 and 2010, it does not exist any year unaudited for our Company.