Corporate presentation Viohalco .1 2. 3. Copper & cables 4. Steel & steel pipes 5. Real estate

Our Company

Viohalco, a publicly traded company ( and Exchange: VIO) based in Brussels, , is the holding company of various metal processing companies in Europe. With production facilities in , Bulgaria, Romania, Russia, FYROM, the United Kingdom and Australia, Viohalco’s subsidiaries specialise in the manufacture of aluminium, copper and cables, and steel and steel pipes products. Viohalco and its companies are also active in real estate development projects.

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Notes . Viohalco is listed on Euronext Brussels and • Elval, Halcor, Hellenic Cables and Corinth Pipeworks are listed on Athens Exchange Long-term performance

Consolidated revenue EUR mil.

3,763 3,683 3,536 3,274 3,317 2,958 2,885 2,943

2,331 2,298 2,154

1,508 1,549 1,323 CAGR 5.8%

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 4

Notes • 2005-2011 Viohalco – Hellenic Financials • 2012 Viohalco SA Financials on a pro forma basis 2014 financial highlights

Revenue • Revenue up 2% to EUR 2,943 mil., mainly driven by increased sales volumes 3,763 3,536 EUR mil. • Significant improvement in EBIT to EUR 4 mil. 3,317 2,958 2,885 2,943 • Loss before income tax of EUR 90 mil., compared to a loss of 2,298 EUR 192 mil. in 2013 • Loss of the period of EUR 88 mil. vs. EUR 224 mil. in 2013, significantly affected by the lower income tax in 2014

2008 2009 2010 2011 2012 2013 2014 EBITDA Amounts in EUR mil. 2014 2013

EUR mil. Revenue 2,943 2,885 183 177 Gross profit 206 175 159 155

120 EBITDA 120 4

91 EBIT 4 (109) 5 Loss for the period (88) (224)

4 Loss attributable to the owners of the Company (59) (173)

2008 2009 2010 2011 2012 2013 2014 Notes • 2008-2011 Viohalco – Hellenic financials • 2012 Viohalco SA financials on a pro forma basis Recent companies’ developments

Integration in The cross-border Start of Halcor’s commercial merger by absorption of operations of activities of the Sidenor Holdings S.A. by Viohalco S.A. was Mare West, Reynolds European concluded on 22 July the new retail SAs copper business 2015 park in Corinth,

Award to Fulgor of a Elval and UACJ contract for the cable On December 2015, the Corporation SA jointly interconnection of the cross-border merger by established a absorption of Elval, 73.2 MW wind park in company in Germany Alcomet, Diatour and the island of to sell automotive St.George, south of Eufina by Viohalco was 6 decided heat exchanger Cape Sounio materials in Europe Viohalco .1 2. Aluminium 3. Copper & cables 4. Steel & steel pipes 5. Real estate

Aluminium

Elval is actively engaged in the processing, and trading of flat rolled and extruded aluminium products, addressing the complex needs of a highly demanding portfolio of multinational clients in various industrial sectors.

With state-of-the-art production facilities in Greece, the United Kingdom and Bulgaria and dynamic commercial presence in all of its key geographical markets, Elval has established a solid global position in its sector, as a true solution provider to its top-tier client base.

8 Aluminium operations at a glance

Strong global position 12 production facilities in Greece, Bulgaria and the United Kingdom

Presence in 90 countries

The largest Greek aluminium processor, active in the manufacturing and trading of flat rolled & extruded products

9 Active business Significant associates investment in worldwide R&D

Aluminium operations at a glance

Aluminium processing

1. Medium size – flexible independent supplier.

Production capability for wide coils (up to 2.5 m) and long slabs (8m) resulting in 2. low production cost.

State-of-the-art key equipment 3. Quality compatible with the highest market standards.

4. Significant presence with growth potential in the lithography business.

5. Extensive distribution network.

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6. Strategic alliance with UACJ Corp. Aluminium production plants

Production facilities in Greece, the United Kingdom and Bulgaria

BRIDGNORTH ELVAL ETEM BULGARIA ALUMINIUM (Oinofyta - Greece) (Sofia - Bulgaria) (Bridgnorth - UK)

Aluminium rolling plant: Aluminium rolling plant: Aluminium extrusion plant: 486,000 sqm 268,400 sqm 125,000 sqm Buildings: Buildings: Buildings: 134,000 sqm 63,000 sqm 40,000 sqm 11 Production 2014: Production 2014: Production 2014: 251.8 kMT 85.3 kMT 18.0 kMT Aluminium product portfolio

Product line – rolled products

Facades (Etalbond ®, Beverage cans, Household foil, Shipbuilding & ELVAL ENF), gutters food cans & closures cigarette packing, marine applications, (Ydoral), roller confectionary trucks & trains shutters, roofing, packaging, frozen wall cladding Rigid packaging food, etc. (sheets and coils) Transportation (sheets and coils) Building Flexible packaging (sheets and coils) (foil)

12 Aluminium product portfolio

Product line – rolled products

Water heaters, Litho coils for Heat exchangers fridges,cookware printing units (brazing), components, insulation Household appliances Litho coils (sheets and coils) Automotive (sheet, coils)

13 Aluminium product portfolio

Product line – extrusion products

Aluminium systems Profiles for special for all types of doors applications, and shutters, industrial profiles for roller shutters, automotive venetian blinds, etc. applications, etc.

Architectural Industrial profiles profiles

14 Aluminium: 2014 highlights

Segment overview

• Rolling business remains profitable • Restructuring process initiated during 2014, aimed at offering complete solutions to customers, especially in architectural applications

2014 2013 in EUR mil. Financial highlights Revenue 1,060 1,009 • Revenue increased by 5.1% to EUR 1,060 mil., Gross profit 84 82 driven by increased sales volumes

EBITDA 79 74 • EBITDA up by 6.5% to EUR 79 mil. • Pre-tax earnings of EUR 19 mil. EBIT 32 28 • Profit attributable to owners of the Company Profit before income tax 19 16 up to EUR 17 mil. from EUR 0.4 mil. in 2013, largely due to the fact that deferred tax in Profit / loss for the year 16 -3 2014 was significantly lower than in 2013

Profit attributable to owners of the Company 17 0.4 15 Viohalco .1 2. Aluminium 3. Copper & cables 4. Steel & steel pipes 5. Real estate

Copper & cables

Halcor and its subsidiaries are active in the production of a wide range of copper and copper alloy solutions that span from copper and brass tubes, copper strips, sheets and plates to copper bus bars and rods.

Hellenic Cables, a subsidiary of Halcor, engages in the manufacturing of a full portfolio of cables and conductors, enameled wires, copper and aluminium wire rods, as well as plastic and rubber compounds.

17 Copper & cables at a glance

Copper Leading position in the Greek market for copper & brass products

Exports to over Manufacturing facilities 80 in Greece, Bulgaria countries and Romania 11 large warehouses in the , Germany, Italy and France

Cables Largest cable Majority of revenue Ability to 18 manufacturer in from markets provide South-Eastern Europe outside of Greece turnkey solutions to customers Copper & cables overview

Production plants

4 plants in Greece 2 plants in Greece 1 in Romania 1 plant in Bulgaria 1 plant in Greece

1 in Bulgaria . 75 kMT /y . 100 kMT /y copper & . 40 kMT /y Copper tubes brass rolled products brass bars & tubes . 160 kMT/y cables, . 25 kMT /y copper & . 120 kMT/y copper wire rod, brass extruded products . 24 kMT/y compounds, . 30 kMT /y ZnTi sheets & coils . 14 kMT/y enameled wires,

Certifications: Certifications: Certifications: Certifications: ISO 9001:2008 EN ISO 9001:2008 ISO 9001:2008 ISO 9001:2008 ISO 14001:2004 ISO 14001:2004 ISO 14001:2004 ISO 14001:2004 19 OHSAS 18001:2007 OHSAS 18001:2007 OHSAS 18001 OHSAS 18001:2007

Copper product portfolio

Fabricator of diverse metal products

Category Products Applications

Water supply, heating, heating (pre-insulated), Copper refrigeration, natural gas, medical use, cooling, solar tubes energy and various industrial applications

Rolled • Construction (roofing, gutters), electrical engineering products (connectors, transformers, boilers, etc.) and decoration

Extruded • Construction, decoration, electrical engineering 20 (electronic control panels, valves, batteries etc.), products supports for gutters Cables production plants

Main production plants

THIVA, GREECE LIVADIA, GREECE BUCHAREST, ROMANIA OINOFYTA, GREECE CORINTH, GREECE

Enameled wire Cable plant Cable plant Compound plant Cable plant plant

Total Area: Total Area: Total Area: Total Area: Total Area: 175,082 sqm 121,818 sqm 267,789 sqm 21,263 sqm 209,656 sqm

Buildings: Buildings: Buildings: Buildings: Buildings: 50,181 sqm 14,939 sqm 102,137 sqm 9,072 sqm 89,489 sqm

Capacity: Capacity: Capacity: Capacity: Capacity: 60 kMT /y 14 kMT /y 50 kMT /y 24 kMT /y 50 kMT /y Cable & 120 kMT /y 8mm Wire 21 Certifications: Certifications: Certifications: Certifications: EN ISO 9001:2008 EN ISO 9001:2008 EN ISO 9001:2008 EN ISO 9001:2008 Certifications: EN ISO 14001:2004 EN ISO 14001:2004 EN ISO 14001:2004 EN ISO 14001:2004 EN ISO 9001:2008 OHSAS 18001: 2007 OHSAS 18001: 2007 OHSAS 18001: 2007 EN ISO 14001:2004

Cables product portfolio

The largest cable producer in SE Europe

Power cables Submarine cables Telecom cables Enameled wires Compounds

Installation & • MV submarine cables . . Enameled wires for building cables • Paper Telecommunication . Compounds Insulated network cables transformers for cables

Industrial cables • Pb insulated (Copper & fibre optics) . . Wind parks Enameled wires for . Compounds for . motors . Solar farms • HV submarine cables Data transmission other industrial . Marine under development cables applications . Railway & underground . . Mining & tunneling • Fiber optic submarine Signaling, cables instrumentation and Power network cables control cables . Transmission • Composite submarine . Distribution cables 22 Cables product portfolio

High added-value products

. Specialised cables requiring both capital investment and know-how to produce

Submarine . Limited supply, thus high margins cables . Increased demand for power grid expansion projects

and off-shore wind parks

. Require know-how and references (installed and in use cables)

High / extra . High margin products high . Increased demand due to investments in energy 23 voltage cables sector infrastructure and renewable energy projects Cables product portfolio

Diversified product and customer mix

. Power and telecom cables, as well as enameled wires

. Specialized products for niche markets, such as high Wide product voltage and extra high voltage cables, oil and gas range cables, solar cables, and marine cables

. Turnkey projects offering ready-to-use solutions

. Building – directly for major customers or through wholesalers Expanded . Utilities – such as PPC (GR), ENEL, EDF, E.ON, CEZ, customer UK, Austrian and other European utilities mix 24 . Industry – such as wind parks, solar farms, petrochemical plants, airports, and large constructions such as tunnels and bridges Copper & cables: 2014 highlights

Segment overview

• Lower copper prices compared to 2013 and a modest recovery of production activity in the Eurozone resulted in subdued consumption and intensified competition in 2014 • Continued improvement in economic conditions in the US and the UK led to an increase in sales and improved margins • Operating margins supported by improved valuation of operating stock • Performance of Hellenic Cables affected by declining metal prices, inactivity costs at Fulgor plant and increased competition • Significant contracts signed for the sale of submarine and underground cables in 2014

in EUR mil. 2014 2013 Financial highlights Revenue 1,080 1,102 • Revenue down slightly by 2% to EUR 1,080 Gross profit 30 17 mil. EBITDA -5 7 • Loss attributable to owners of the EBIT -29 -16 Company of EUR -51 mil. vs. EUR -58 mil. in 2013 Loss before income tax -73 -54 • Results affected by a change in the Loss for the year -59 -64 accounting policy with respect to Loss attributable to owners of the Company -51 -58 valuation of land, buildings and 25 machinery – positive effect of EUR 113.6 mil. (net of tax) on equity, but a negative effect of EUR 23.4 mil. on the Group’s P&L Viohalco .1 2. Aluminium 3. Copper & cables 4. Steel & steel pipes 5. Real estate

Steel & steel pipes

Sidenor is a leading steel producer in Greece and SE Europe with strong position and expanding business via large investments and expansion of sales network.

Corinth Pipeworks is amongst the world leading steel pipe manufacturers for the oil and gas industry and a major hollow sections supplier for the construction sector.

27 Steel & steel pipes at a glance

The largest long products steel producer Steel in South Eastern Europe Worldwide sales network with a leading position in Greece

Amongst the Steel pipes world’s largest and most advanced Major hollow steel pipe section supplier producers for the of the construction oil & gas industry sector One of the largest Steel pipes annual ERW/HFI & SAWH capacity 28 manufacturers globally 400 kMT /y ERW/HFI Approved supplier 375 kMT /y HSAW of the largest international 400 kMT /y LSAW * oil and gas companies 150 kMT /y ERW/HFI Notes * New investment to be operational Q3 2015 Steel product portfolio

Attractive & diversified product portfolio that reduces volatility

Greek steel operations

Balkan steel operations

Pipes, tubes & hollow sections business

29 Steel plants in Greece

THESSALONIKI, GREECE Meltshop – (1991) (1) 800 kMT/y M/R (1) Long product mill – (1998-99) Thessaloniki 800 kMT/y (3) Mesh 40 kMT/y GREECE

Land approx. 441 K sq.m. M/R Covered area approx. 75 K sq.m.

Athens

ALMYROS, GREECE Meltshop – (2001) (2) 1,350 kMT/y Long product mill – (1999) (2) 1,200 kMT/y

Land approx. 1,400 K sq.m. 30 Covered area approx. 120 K sq.m. M/R Meltshop /Rolling Mill

Notes 1. Major restructuring 2. First year of operation 3. Currently 600 KMT/y, which will become 800 KMT/y after future investments Steel plants in Bulgaria & FYROM

M/R Meltshop /Rolling mill

R Rolling mill BULGARIA Sofia M/R

Skopje FYROM R

PERNIK, BULGARIA DOJRAN, FYROM

(2) Meltshop – (2002-3) Rolling mill – (2006) (2) 1,400 kMT/y 200 kMT/y (2) Plate mill – (2003-4) Mesh 20 kMT/y 400 kMT/y Lattice girders Long product mill 1,000 kMT/y 10 kMT/y Mesh 30 kMT/y

31 Land approx. 3,100 K sq.m. Covered area approx. 284 K sq.m.

Notes 1. 2001 : First year of STOMANA consolidation in Sidenor Group 2. Major restructuring of facility

Steel logistics network

Distribution network SLOVENIA Sidenor’s logistics centres provide all means of Zagreb transportation: Ljubljana Belgrade ROMANIA CROATIA BOSNIA-HERZEGOVINA Bucharest Sarajevo BULGARIA Truck Ship Rail MONTENEGRO Sofia New planned logistics centres will further enhance KOSOVO Skopje Sidenor’s market positioning Tirane FYROM SIDENOR Group has a major competitive advantage in terms of transporting its raw materials and end- ALBANIA Thessaloniki products via its railway connections and port facilities: GREECE – SOVEL Port – Aspropyrgos Dock (Athens) Athens – CPW Port Truck – Danube river – Burgas (Bulgaria) Ship CPW Port in Thisvi SOVEL Port in Volos

Rail

32 Nicosia Existing logistics centres

Planned logistics centre Steel projects in the Balkans

METROPOLITAN CENTER SOFIA SUBWAY - BULGARIA CET BUDAPEST - HUNGARY BUCHAREST - ROMANIA KRINKAL BRIDGE - SLOVENIA

STADIUM - SLOVENIA HYGEIA HOSPITAL, TIRANA - ALBANIA

BUSINESS CENTER CVOR OREHOVICA GRUZANSKOM BRIDGE TIRANA - ALBANIA RIJEKA - CROATIA JEZERU - SERBIA LARNAKA AIRPORT - CYPRUS SOFIA AIRPORT - BULGARIA

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THE MALL BUCHAREST - CVOR OREHOVICA ROMANIA CASINO SKOPJE - FYROM SHOPPING CENTER - SERBIA ARSAKEIO SCHOOL TIRANARIJEKA - ALBANIA - CROATIA Steel pipes’ production and port facilities At the forefront of energy sector new trends

One stop shop 5 Production & port facilities 6 10 1 4 2 11 3 7 9 8 12 6 6

Pipe mills Port & storage facilities 1. ERW/HFI (400 KMT/year) 3. LSAW/JCOE (400 KMT/year) 5. Port facilities (exclusive use) Grade up to: X80 Grade up to: X80 (X100 in the future) Hollow Sections: 180x180 – 500x500 O.D. range: 16’’ – 56’’ 6. Storage areas Line Pipes (O.D. Range): 8 5/8’’ – 26’’ Wall thickness: up to 40 mm Wall thickness: 4.78-25,4 mm Services / Downstream operations 7 & 8. Coating (2 mills): O.D. range: 4 1/2’’ – 100’’ 2. HSAW (375 KMT/year) 4. ERW/HFI plant (150 KMT/year) 9. Lining mill: O.D. range: 8 5/8’’– 56’’ Grade up to: X80 Grade up to: S355J2H 10. Weld on Connectors: 4.500 joints/y O.D. range: 24’’ – 100’’ Line Pipes O.D. :2’’–7 5/8’’ Wall thickness: 6-25,4 mm (HS: 50x50 – 160X160) 11. Laboratory for HIC (sour service conditions) Wall thickness: 3,0-10,0 mm 12. Concrete Weight coating facility (CWC) ManagingWorldwide experience large-scale in managing projects big projects

Half a century in managing big projects

Europe ~3.500Km* CIS & Asia

CUSTOMERS ~250Km* GDF, Snam Rete Gas, Dow Chemical, RWE, OMV, Plinacro, Enagas, CUSTOMERS TransGas, BG Group, National Grid, SOCAR, BP, KPO North America Bord Gais, EDF Greece: DEPA, DESFA MAJOR PROJECTS ~5.000Km* MAJOR PROJECTS SOCAR gas pipeline: 18,000MT ENAGAS: Alcazar - Montesa CUSTOMERS Pipeline: 71,000MT Denbury Resources, DCP Midstream, OFFSHORE projects: 85,000TN Spectra Energy, Cheniere, Enbridge, GAZ DE FRANCE projects: Panhandle, Kinder Morgan, 100,00 TN Energy Transfer, EPCO, DEPA/DESFA projects:~75.000MT Williams, Spartan, McJunkin, Middle East NiSource, Mississipi Power, Chaparral MAJOR PROJECTS ~2.100Km* SPECTRA ENERGY: 118,000TN SESH, USA Africa CUSTOMERS DENBURY: 52,000TN ~4.000Km* Saudi Aramco, Qatar Greencore CO2 pipeline Petroleum, PDO, OGC, ENERGY TRANSFER projects: DEWA, SCOP, Gasco, 134,000MT CUSTOMERS ADNOC, ENNPI, Petrofac, SHELL DEEPWATER GoM Chevron Texaco, Shell, OMV Yemen ~15.000MT South America Sonatrach, Perenco, ENPPI, MAJOR PROJECTS Petrojet, BG, STEG, ABB, SAUDI ARAMCO Bonatti, Saipem, BP, Gasco, ~200Km* Projects: 40.000MT Vegas Oil GASCO projects: 22,000MT CUSTOMERS MAJOR PROJECTS PDO projects: 22.000MT MLP, Cunado, Pemex, UPC CHEVRON TEXACO West Africa gas MAJOR PROJECTS Pipeline: 67,000MT MLP pipeline Chile: 10,000MT SONATRACH: Medgaz GZ4 Citam - Sinan gas pipeline Algeria: 99,000MT Mexico: 5,000MT OMV - Tunisia: Nawara 70,000MT * Quantities are calculated for the time period 2002-2014 DeliveringDelivering energy energy to the… to future the future

New contracts Trans Adriatic Pipeline AG (TAP) awarded to CPW 495Km of 48” onshore pipeline

(270.000Tn) Realization 2016 - 2017 Energy Transfer Partners Rover pipeline Dakota access pipeline – DAPL Rover Pipeline 4 major projects realized in US Kinder Morgan CO2 Company, L.P., 200.000Tn of high grade steel pipes, the Lobos CO2 project coating & lining for the construction of DAPL Plain All American pipelines Red River

LOBOS CO2 project New investments

Corinth Pipeworks S.A. is upgrading its product portfolio by investing in the manufacturing and coating of 24m length steel pipes (from 18m). The new investments will be operational in 2015 and will provide a significant competitive advantage to the EPC contractors by decreasing of the installation cost (less welding operations on site) and time of completion of each project.

Corinth Pipeworks S.A. has just realized its investment in a sour service laboratory. The new investment will provide increased capabilities in the management of pipeline projects having intense sour service conditions Region of interest worldwide (offshore – onshore)

Deeper waters and heavier pipes

Offshore development or sour service conditions projects

North Sea West Africa Gulf of Mexico Brazil South East Europe Middle East Caspian region USA East Africa Canada

Markets where LSAW is preferred

Libya Egypt Iraq

Big projects in our region (detailed information in next page)

TAP TANAP IGB South Stream East Med Major prospective projects in our region

1.TAP 5.Nord stream II

Onshore: 755km Offshore: 1.220 km (2 lines) Qty of pipes: 443,000MT Capacity: 2x27,5 bcm Offshore: 110 km Total quantity of steel pipes: Qty of pipes: 70.000MT 2,000,000MT Capacity: 10 bcm

6.Eastring 2.IGB 5 Onshore: ~900Km Onshore: 183km Capacity: 20bcm (40bcm 2nd stage) Quantity of steel pipes: 42,000MT Qty of pipes: 470.000MT Capacity: 3-5 bcm

2X27bcm 7.East Med pipeline Onshore: 500km Germany Qty of pipes: 280.000Tn 3.TANAP Offshore (deep): 1.200km 6 Qty of pipes: 650.000MT Onshore: 1.800km Capacity: 8-15 bcm Qty of pipes:1,300,000MT 8 20bcm Austria Hungary Offshore: 35km 27bcm 4 Qty of pipes :18.000MT Romania 4x16bcm Capacity: 16-31 bcm 8.Tesla pipeline (Turkish Stream) Croatia 9 2 Onshore: 1,300-1,400Km Capacity: 27bcm Italy 3-5bcm 3 4.Turkish Stream 5bcm Qty of pipes: 750.000MT 16bcm 1 Offshore: 4 lines X 910 km 10bcm Qty of pipes: 650.000MT each line Turkey 9.Ionian Adriatic Pipeline Onshore: 180km in Turkey Qty of pipes :80.000MT Greece Onshore: 540Km Capacity: 4X16 bcm Capacity: 5bcm Qty of pipes: 150.000MT 7 Planned 8-15bcm Proposed Steel & steel pipes: 2014 highlights

Segment overview

• Steel segment negatively affected by unfavourable conditions in the Greek economy, the construction sector and the international steel market • Sidenor results supported by mild recovery in the reinforcing bars market in Greece, lower costs at Stomana Industry, growing sales of new higher value-added products and increased penetration of the plate product market in the USA • Steel pipes profitability affected by significant slowdown in energy projects and intense competition, with partial market recovery seen in H2 2014 • Three new contracts totalling 163 kMT for the supply of internal and external coating of steel pipes in the USA are currently being executed

in EUR mil. 2014 2013 Financial highlights Revenue 822 808

Gross profit 75 54 • Consolidated revenue up slightly by 1.8% to EUR 822 mil. EBITDA 23 11 • EBITDA up 101% to EUR 23 mil. EBIT -21 -41 • Narrowing losses before taxes at EUR 55 mil. vs. EUR 75 mil. in 2013 Loss before income tax -55 -75 • Consolidated loss attributable to owners Loss for the year -56 -86 of the Company of EUR 50 mil. vs. EUR 74 39 mil. in 2013 Loss attributable to owners of the Company -50 -74

Viohalco .1 2. Aluminium 3. Copper & cables 4. Steel & steel pipes 5. Real estate

Real estate

The real estate development segment specialises in the expansion of the commercial and industrial properties of Viohalco and its subsidiaries.

Viohalco and its companies develop a significant portfolio of commercial and industrial properties on a global scale. The most important properties which are or were developed by Viohalco and its subsidiaries, are located in Greece and Bulgaria and include, among others, the development of office complexes, shopping malls and industrial buildings and warehouses.

RealReal estateestate Key assets

River West & Ikea Industrial buildings, Office Buildings, Office Buildings, Hotel Retail Park Store warehouses/offices 115 Kifissias Ave., 57 Ethnikis Karaiskaki Sq., Mare West, 96 Kifissos Ave., 252 Pireos Str., Ampelokipi, Antistasseos Str., Athens Corinth Athens Athens Athens Halandri, Athens

41 Real estate

Key real estate assets

Property Karaiskaki Sq., Athens Property 96 Kifissos Ave., Athens Property MARE WEST Owner XENKA SA (100% Owner VIOHALCO SA (CORINTH PIPEWORKS former plant) subsidiary of NOVAL SA) Owner METALLOURGIA KORINTHOU SA Use of Hotel Use of IKEA Store / River West (100% subsidiary of NOVAL SA) property property Shopping complex Use of Retail park Condition Fully constructed Condition In operation property of property of property Condition of Fully constructed Land (m2) 2,165 Land (m2) 59,415 property

2 2 Built (m ) 23,215 Built (m ) 25,170 / 20,000 Land (m2) 73,575 / 22,046 Built (m2) 22,404/ - 42 Real estate

Key real estate assets

Property 115 Kifissias Ave., Property 57 Ethnikis Antistasseos Property 252 Pireos Str., Athens Ampelokipi, Athens street, Halandri, Athens Owner VIOHALCO SA

Owner SANITAS SA (100% Owner NOVAL SA subsidiary of NOVAL SA) Use of Industrial buildings, property warehouses and offices Use of Office buildings Use of Office buildings property property Condition In operation of property Condition In operation Condition Under construction of property Land (m2) 73,510 of property

Built (m2) 45,134 Land (m2) 4,050 Land (m2) 4,710 2 Built (m2) 18,069 Built (m ) 4,423 43 Disclaimer

This document has been prepared by VIOHALCO SA (the “Company”) for use at this presentation.

The information contained in this presentation has not been independently verified and no representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained herein. None of the Company, shareholders or any of their respective affiliates, advisers, representatives or employees shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this document or its contents or otherwise arising in connection with this document. Unless otherwise stated, all financials contained herein are stated in accordance with International Financial Reporting Standards (‘IFRS’ ). This presentation does not constitute an offer or invitation to purchase or subscribe for any shares and neither it or any part of it shall form the basis of, or be relied upon in connection with, any contract or commitment whatsoever. The information included in this presentation may be subject to updating, completion, revision and amendment and such information may change materially. No person is under any obligation to update or keep current the information contained in the presentation and any opinions expressed in relation thereof are subject to change without notices. This presentation has been prepared by the management of the Company solely for use by you at this presentation. “Presentation” means this document, any oral presentation, the question and answer session and any written or oral material discussed or distributed during this presentation. This presentation and its contents are confidential and must not be distributed, published or reproduced (in whole or in part) or disclosed by recipients to any other person. This presentation does not contain all the information that may be important for investors. This presentation is not an offer of securities for sale, nor a solicitation of any offer to purchase securities, in the United States or any other jurisdiction. Neither this presentation nor any part or copy of it may be taken or transmitted into the United States or distributed, directly or indirectly, in the United States. Neither this presentation nor any part or copy of it may be taken or transmitted into Australia, Canada or Japan, or distributed directly or indirectly in Canada or distributed or redistributed in Japan or to any resident thereof. Any failure to comply with these restrictions may constitute a violation of U.S., Australian, Canadian or Japanese securities laws. The distribution of this presentation in other jurisdictions may be restricted by law and persons into whose possession this document comes should inform themselves about, and observe, any such restrictions. The Company’s securities have not been and will not be registered under the Securities Act and may not be offered or sold in the United States.. The recipients of this presentations should not use the information in this presentation in any way which would constitute "market abuse" (as defined by the law of 2 August 2002 on the supervision of the financial sector and on financial services). This presentation does not constitute a recommendation regarding the securities of the Company.

FORWARD LOOKING STATEMENTS This document contains forward-looking statements. Except for historical information, the matters discussed in this presentation are forward-looking statements that are subject to certain risks and uncertainties that could cause the actual results of operations, financial condition, liquidity, performance, prospects and opportunities to differ materially, including but not limited to the following: the uncertainty of the national and global economy; economic conditions generally and the Company’s sector specifically; competition from other companies. 44 Although the Company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. The forward-looking statements are made as of the date of this presentation, and we undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. By attending this presentation, you agree to be bound by the foregoing limitations.