Interim Financial Statements 30 September 2025

IN ACCORDANCE WITH INTERNATIONAL FINANCIAL REPORTING STANDARDS THAT HAVE BEEN ADOPTED BY THE EUROPEAN UNION

FOR THE PERIOD

1 JANUARY - 30 SEPTEMBER 2025

FOR THE GROUP AND THE COMPANY

"MOTOR OIL (HELLAS) CORINTH REFINERIES S.A."

MOTOR OIL (HELLAS) CORINTH REFINERIES S.A.

G.E.MI. 272801000

Headquarters: Irodou Attikou 12Α,

151 24 Maroussi Attica

OUR PURPOSE

For more than 50 years, we produce reliable and affordable energy products and services for our customers, we invest towards a more sustainable energy future, we promote

the growth and safety of our employees and contribute to the development and wellbeing of the society.

We operate based on our core values of integrity, transparency, meritocracy, professionalism, effectiveness and

responsibility towards our employees, society and the environment.

Overall, at Motor Oil, we provide the energy our customers need today, while leading the transition into a sustainable energy future.

WHILE THE ENERGY SECTOR IS CONSTANTLY CHANGING, OUR COMMITMENT REMAINS THE SAME

It all started in 1972, and for over 50 years we have supported the Greek economy by exporting to more than 75 countries worldwide.

We have aided community growth by employing thousands of people.

We have invested in new projects and forms of energy, paving the way towards a sustainable future.

We are moving forward, creating value for the generations to come.

Interim Condensed Statement of Profit or Loss and Other Comprehensive Income

for the period ended 30th September 2025 5

Interim Condensed Statement of Profit or Loss and Other Comprehensive Income

for the period 1st July to 30th September 2025 7

Interim Condensed Statement of Financial Position as at 30th September 2025 9

Interim Condensed Statement of Changes in Equity for the period ended 30th September 2025 11

Interim Condensed Statement of Cash Flows for the period ended 30th September 2025 13

Notes to the Financial Statements 15

1. General Information 15

2. Basis of Financial Statements Preparation & Adoption of New and Revised International

   Financial Reporting Standards (IFRS) 15

3. Revenue 18

4. Operating Segments 19

5. Dividends 23

6. Goodwill 23

7. Other Intangible Assets 24

8. Property, Plant and Equipment 26

9. Inventories 28

10. Borrowings 28

11. Fair Value of Financial Instruments 35

12. Establishment/Acquisition of Subsidiaries/Associates 39

13. Related Party Transactions 42

14. Financial risk management 43

15. Alternative Performance Measures 47

16. Events after the Reporting Period 48

The financial statements of the Group and the Company, set out on pages 1 to 48,

were approved at the Board of Directors' Meeting dated on Tuesday 18 of November, 2025.

THE CHAIRMAN

OF THE BOARD OF DIRECTORS

AND CEO THE DEPUTY CEO THE CHIEF ACCOUNTANT

IOANNIS V. VARDINOYANNIS PETROS T. TZANNETAKIS VASSILIOS N. CHANAS

In 000's Euros

(except for "earnings per share")

Operating results

Gross Profit

711,231

879,851

314,806

501,522

Revenue Cost of Sales

GROUP COMPANY

Note 01/01-30/09/25 01/01-30/09/24 01/01-30/09/25 01/01-30/09/24

3 8,476,250 9,368,777 5,661,201 6,585,297

(7,765,019) (8,488,926) (5,346,395) (6,083,775)

Distribution expenses Administrative expenses Other income

Other Gain/(loss)

(272,625) (253,606) (31,170) (22,822)

(129,135) (108,859) (52,164) (52,419)

25,213 52,242 15,382 41,722

218,206 6,262 213,004 10,302

Profit from operations

552,890

575,890

459,858

478,305

Finance income

Finance cost

Share of profit/(loss) in associates Gain/(loss) on fixed assets from significant

incident

110,614 113,581 121,245 110,864

(169,743) (159,760) (97,711) (77,487)

57,119 9,713 0 0

33,195 0 33,195 0

Profit before tax

584,075

539,424

516,587

511,682

Income taxes (130,864) (315,374) (109,387) (308,575)

Profit after tax

453,211

224,050

407,200

203,107

Attributable to Company Shareholders

Non-controlling interest

450,606

2,605

220,304

3,746

407,200

0

203,107

0

Basic earnings per share (in €) From continued operations Diluted earnings per share (in €)

4.16 2.04 3.76 1.88

From continued operations 4.16 2.03 3.76 1.87

GROUP

COMPANY

In 000's Euros

01/01-30/09/25 01/01-30/09/24 01/01-30/09/25 01/01-30/09/24

Other Comprehensive income

expenses

income that will not be reclassified

Exchange differences on translating foreign operations

Net fair value gain/(loss) arising on hedging instruments during the year on cash flow hedges

(3,571) (351) 0 0

2,123 (9,152) (2,290) (5,049)

Net Other Comprehensive income

Total comprehensive income

(1,448)

83,288

536,499

(9,503)

21,604

245,654

(2,290)

(2,290)

404,910

(5,049)

(5,049)

198,058

Attributable to Company Shareholders

Non-controlling interest

533,959

2,540

241,923

3,731

404,910

0

198,058

0

In 000's Euros

(except for "earnings per share")

Operating results

Gross Profit

371,216

171,876

201,191

31,287

Revenue Cost of Sales

GROUP COMPANY

01/07-30/09/25 01/07-30/09/24 01/07-30/09/25 01/07-30/09/24

3,210,698 3,130,852 2,163,602 2,146,987

(2,839,482) (2,958,976) (1,962,411) (2,115,700)

Distribution expenses Administrative expenses Other income

Other Gain/(loss)

(94,837) (89,449) (11,510) (8,961)

(49,759) (43,726) (18,205) (15,818)

9,201 23,287 5,939 19,197

67,365 1,588 68,053 6,147

Profit from operations

303,186

63,576

245,468

31,852

Finance income

Finance cost

Share of profit/(loss) in associates Gain/(loss) on fixed assets from significant

incident

41,570 45,513 42,572 35,110

(55,231) (55,794) (32,644) (28,944)

52,923 17,541 0 0

23,868 0 23,868 0

Profit before tax

366,316

70,836

279,264

38,018

Income taxes (76,512) (208,785) (58,630) (206,906)

Profit/(loss) after tax

289,804

(137,949)

220,634

(168,888)

Attributable to Company Shareholders

Non-controlling interest

288,516

1,288

(138,702)

753

220,634

0

(168,888)

0

Basic earnings/(losses) per share (in €)

From continued operations

Diluted earnings/(losses) per share (in €)

2.66 (1.28) 2.04 (1.56)

From continued operations 2.66 (1.28) 2.04 (1.56)

GROUP

COMPANY

In 000's Euros

01/07-30/09/25 01/07-30/09/24 01/07-30/09/25 01/07-30/09/24

Other comprehensive income

expenses

income that will not be reclassified

Exchange differences on translating foreign operations

Net fair value gain/(loss) arising on hedging instruments during the year on cash flow hedges

(3) (1,069) 0 0

1,278 (15,339) (397) (4,228)

Net Other Comprehensive income

Total comprehensive income

1,275

37,859

327,663

(16,408)

(11,195)

(149,144)

(397)

(397)

220,237

(4,228)

(4,228)

(173,116)

Attributable to Company Shareholders

Non-controlling interest

326,354

1,309

(149,875)

731

220,237

0

(173,116)

0

GROUP

In 000's Euros

Balance as at

01/01/2024

Profit for the period

Other Comprehensive Income for the period

Total Comprehensive Income for the period

Addition from Establishment/ Acquisition of Subsidiary

Treasury Shares

Share options exercised

Acquisition of Subsidiary's Minority

Balance as at

30/09/2024

Transfer to Reserves Dividends

Balance as at

01/01/2025

Profit for the period

Other Comprehensive Income for the period

Total Comprehensive Income for the period

Addition from Establishment/ Acquisition of Subsidiary

Share Capital

Share Capital

Increase in Subsidiary's Decrease in Subsidiary's

Treasury Shares

Share options exercised Adjustment arising

from change in

Balance as at

30/09/2025

non-controlling interest Transfer to Reserves Dividends

COMPANY

In 000's Euros

Share Capital

Reserves

Retained

Earnings

Total

Balance as at

01/01/2024

Profit for the period

Other Comprehensive Income for the period

Total Comprehensive Income for the period

Transfer to reserves Treasury Shares

Balance as at

30/09/2024

Share options exercised Dividends

Balance as at

01/01/2025

Profit for the period

Other Comprehensive Income for the period

Total Comprehensive Income for the period

Transfer to reserves Treasury Shares

Balance as at

30/09/2025

Share options exercised Dividends

GROUP

COMPANY

In 000's Euros

Operating activities Profit before tax Adjustments for:

Depreciation and amortization of

non-current assets

Depreciation of right of use assets Provisions/ Impairments

Share of profits of associates

Exchange differences

Finance income and other income,

expense, gain, loss

Finance cost

(excluding borrowings)

Movements in working capital: Decrease/(increase) in inventories Decrease/(increase) in receivables (Decrease)/increase in payables

Less:

Finance cost paid Taxes paid Plus/(Minus):

Net cash (used in)/from operating activities (a)

instruments

due to significant incident

Cash settlements of derivative Proceeds from insurance compensation

GROUP

COMPANY

In 000's Euros

Investing activities

Acquisition of subsidiaries, affiliates, joint ventures and other investments

Reduction of Share Capital Disposal of subsidiaries, affiliates,

joint-ventures and other investments

Purchase of tangible and intangible

assets

Grants received for tangible assets

Proceeds on disposal of tangible and intangible assets

Proceeds from insurance compensation for fixed assets due to significant incident

Net cash (used in)/from investing activities (b)

Interest received Dividends received

Financing activities Share capital increase Share capital decrease

Acquisition of Non-Controlling Interest Repurchase of treasury shares

Proceeds from partial disposal of interest in subsidiaries without loss of control

Proceeds from sale of treasury shares Proceeds from exercise of share options Proceeds from borrowings

Net cash (used in)/from financing activities (c)

Repayments of borrowings Repayments of leases Dividends Paid

Effect of exchange rate changes deriving from foreign operations (d)

Net increase/(decrease) in cash and cash equivalents (a)+(b)+(c)+(d)

Cash and cash equivalents at the beginning of the period

Cash and cash equivalents at the end of the period

1. General Information

   The parent company of the MOTOR OIL Group (the Group), under the trade name "Motor Oil (Hellas) Corinth Refineries S.A." (the Company), is registered in Greece as a public company (Societe Anonyme) according to the provisions of Company Law 2190/1920 (as replaced by Law 4548/2018). The Company has its headquarters in Greece - Maroussi of Attica, 12A Irodou Attikou street, 151 24. The Group operates, mainly, in the energy sector. Its main activities involve the refining and trading of petroleum products, the trading of natural gas, as well as the production of energy from renewable sources. In addition, services are provided in electricity supply, energy efficiency, and electromobility. At the same time, there is active engagement in the management of solid waste and wastewater, the collection of biowaste, as well as in recycling and lubricant regeneration.

   As at 30 September 2025, "Petroventure Holdings Limited" was holding 40% of the Company. The length of life for the Company is until 2070.

   These financial statements are presented in Euro which is the currency of the primary economic environment in which the Group operates. Amounts in these financial statements are expressed in € 000's unless otherwise indicated. Any difference up to € 1,000 is due to roundings.

   ‌As at 30 September 2025, the number of employees, for the Group and the Company, was 4,350 and 1,540 respectively (30/09/2024: Group: 3,243 employees, Company: 1,479 employees).

2. Basis of Financial Statements Preparation & Adoption of New and Revised International Financial Reporting Standards (IFRS)

   1. Basis of preparation

      The interim condensed financial statements for the period ended 30 September 2025 have been prepared in accordance with International Accounting Standard (IAS) 34, 'Interim financial reporting' and as such do not include all the information and disclosures required in the annual financial statements. In this context, these interim condensed financial statements should be read in conjunction with the Group's annual financial statements for the year ended 31 December 2024. Furthermore, the interim condensed financial statements have been prepared on a going concern basis.

      The accounting policies adopted in the preparation of these interim condensed financial statements are consistent with those followed in the preparation of the Group's annual financial statements for the year ended 31 December 2024.

      The preparation of the financial statements presumes that various estimations and assumptions concerning the future are made by the Group's management which may affect the carrying values of assets and liabilities and the required disclosures for contingent assets and liabilities as well as the amounts of income and expenses recognized. The application of sufficient information and various judgments made by the Group's management may significantly impact the valuation and presentation of assets and liabilities. The areas requiring the most significant judgments, estimates and assumptions in the preparation of the financial statements are: accounting for interests in subsidiaries, joint operations and associates, fair values of assets acquired and liabilities assumed on acquisition, recoverability of asset carrying amounts, determining right of use assets and lease liabilities, taxation, provisions, retirement benefit obligations, impairment of receivables, and valuation of financial instruments. The Group's Management reviewed these estimations and concluded that no revision of the accounting policies is required.

      New and revised accounting standards and interpretations, amendments to standards and interpretations that apply to either current or future fiscal years, including their potential impact on the interim condensed financial statements, are set out in Note 2.2.

   2. New standards, Interpretations and amendments

      New standards, amendments to existing standards and interpretations have been issued, which are obligatory for accounting periods beginning during the present fiscal period or at a future time and are presented below.

      1. Standards, Amendments and Interpretations mandatory for Fiscal Year 2025

         The Group has adopted the amendments mentioned below which are effective from January 1st, 2025. These amendments did not have a significant impact on the interim condensed consolidated and separate financial statements for the nine-month period ended 30 September 2025.

         IAS 21: The effects of Changes in Foreign Exchange Rates: Lack of Exchangeability - Amendments

         In August 2023, IASB published amendments to IAS 21 which require companies to provide more useful information in their financial statements when a currency is not exchangeable to another currency. The amendments introduce a definition of the "exchangeability" of a currency and provide guidance on how an entity should estimate a spot exchange rate in cases where a currency is not exchangeable. Also, additional disclosures are required in cases where an entity has estimated a spot exchange rate due to a lack of exchangeability.

         The amendments are effective for annual periods beginning on or after January 1st, 2025 and have been endorsed by the European Union.

      2. New standards, interpretations and amendments effective for periods beginning on or after January 1st, 2026

         The following new standards, amendments and interpretations have been issued by the International Accounting Standards Board (IASB) but are not yet effective for annual periods starting January 1st, 2025. The Group is in the process of evaluating their impact on both the consolidated and the Company's financial statements.

         IFRS 7: Financial Instruments: Disclosures (Amendments) and IFRS 9: Financial Instruments (Amendments)

         The amendments clarify that a financial liability is derecognized on the "settlement date" and introduce an accounting policy choice to derecognise financial liabilities settled using an electronic payment system before the settlement date, if certain conditions are met. An entity that elects to apply the derecognition option would be required to apply it to all settlements made through the same electronic payment system. Other clarifications include the classification of financial assets with ESG linked features via additional guidance on the assessment of contingent features. Clarifications have been made to non-recourse assets and contractually linked instruments. The amendments require additional disclosures for investments in equity instruments that are measured at fair value with gains or losses presented in other comprehensive income (FVOCI).

         The amendments are effective for annual periods beginning on or after January 1st, 2026 and have been endorsed by the European Union. Early application is permitted.

         IFRS 18: Presentation and Disclosures in Financial Statements

         IFRS 18 was issued in April 2024 and will replace IAS 1 "Presentation of Financial Statements". The primary objective of the Standard is to improve the assessment of a company's performance by increasing comparability in presentation in an entity's financial statements, particularly in the statement of profit or loss and in its notes to the financial statements. Specifically, the Standard will improve the quality of financial reporting due to a) the requirement of defined subtotals in the statement of profit or loss, b) the requirement to disclose certain 'non-GAAP' measures - management performance measures (MPMs) and

         c) the new principles for aggregation and disaggregation of information.

         The new standard has retrospective application and is effective for annual periods beginning on or after January 1st, 2027 while it is not yet endorsed by the European Union.

         Annual Improvements to IFRS Standards - Volume 11

         The improvements have been issued in July 2024 by the IASB and provide minor amendments that include clarifications, simplifications, corrections and changes in the following to the following accounting

         standards: IFRS 1 "First-time Adoption of International Financial Reporting Standards", IFRS 7 "Financial Instruments: Disclosures", IFRS 9 "Financial Instruments", IFRS 10 "Consolidated Financial Statements" and IAS 7 "Statement of Cash Flows".

         The above amendments are effective for annual periods beginning on or after January 1st, 2026 and have been endorsed by the European Union.

         Amendments to IFRS 9 and IFRS 7: Contracts Referencing Nature-dependent Electricity

         On 18 December 2024, the IASB published "Contracts Referencing Nature-dependent Electricity -Amendments to IFRS 9 and IFRS 7". The objective of the amendments is to better reflect the effects of physical and virtual nature-dependent electricity contracts in the financial statements. More specifically, the amendments clarify the application of the 'own-use' requirements, permit hedge accounting if these contracts are used as hedging instruments and add new disclosure requirements to enable investors to understand the effect of these contracts on a company's financial performance and cash flows.

         The amendments are effective for annual periods beginning on or after January 1st, 2026 and have been endorsed by the European Union. Early application is permitted.

   3. Reclassifications of figures

There are reclassifications of figures in the comparative period of 2024, in the Statement of Cash Flows, on a Group basis, between the "Exchange differences" and "Effect of exchange rate changes deriving from foreign operations" amounting € 1,544 thousand. These reclassifications aim at a more detailed presentation of cash flows.

The following tables provide an analysis of the sales by geographical market (domestic - bunkering -export) and by category of goods sold (products - merchandise - services):

GROUP

Based on historical information of the Company and the Group, the percentage of quarterly sales volume varies from 23% to 28% on annual sales volume and thus there is no material seasonality on the total sales volume.

The Sales Breakdown by product category for the Company is as follows:

1. ‌Operating Segments

   The Group is mainly operating in Greece, given that most Group companies included in the consolidation are based in Greece.

   Group management regularly reviews internal financial reports in order to allocate resources to the segments and assess their performance. Operating segments have been determined based on certain criteria of aggregation, as set by management. Sections aggregated into a single operating segment have similar economic characteristics (more specifically, similar nature of products and services, similar nature of the production process and similar type of customers). Information provided for management purposes is measured in a manner consistent with that of the financial statements.

   The Group is active in four main operating business segments: a) Refining Activity, b) Fuels' Marketing Activity, c) Power and Gas and d) Other.

   "Other" segment relates mainly to Group entities which provide services, holding companies and solid waste and recycling energy from waste.

   Inter-segment sales primarily relate to sales from the refining segment to other operating segments.

   Segment information is presented in the following tables. During the current period, "Other Gain/(loss)" includes an amount of € 211,341 thousand which relates to the compensation recognised as revenue for loss of operating profits due to business interruption for the incident at the Company's refinery in September 2024.

   STATEMENT OF COMPEHENSIVE INCOME			01/01-30/09/25
   (In 000's Euros)
   Business Operations	Refining	Fuels Marketing	Power and Gas	Other	Eliminations/ Adjustments	Total
   Sales to third parties	4,314,514	3,455,909	526,012	179,815	0	8,476,250
   Inter-segment sales	1,605,727	95,403	9,614	15,138	(1,725,882)	0
   Total revenue	5,920,241	3,551,312	535,626	194,953	(1,725,882)	8,476,250
   Cost of Sales	(5,571,043)	(3,265,120)	(482,699)	(158,052)	1,711,895	(7,765,019)
   Gross profit	349,198	286,192	52,927	36,901	(13,987)	711,231
   Distribution expenses	(40,545)	(212,995)	(32,041)	(2,802)	15,758	(272,625)
   Administrative expenses	(57,511)	(25,198)	(27,889)	(16,718)	(1,819)	(129,135)
   Other Income	16,051	5,192	4,182	1,184	(1,396)	25,213
   Other Gain/(loss)	216,669	(2,461)	2,047	9,062	(7,111)	218,206
   Segment result from operations	483,862	50,730	(774)	27,627	(8,555)	552,890
   Finance income	115,527	1,453	6,919	8,164	(21,449)	110,614
   Finance cost	(103,192)	(26,927)	(38,913)	(2,113)	1,402	(169,743)
   Share of profit/(loss) in associates	0	6,023	17,286	(1,136)	34,946	57,119
   Gain/(loss) on fixed assets from significant incident	33,195	0	0	0	0	33,195
   Profit/(loss) before tax	529,392	31,279	(15,482)	32,542	6,344	584,075
   Other information Additions attributable to acquisition of subsidiaries	0	2,757	0	30,696	0	33,453
   Capital additions	167,004	60,329	197,713	15,658	(4,097)	436,607
   Depreciation/amortization and other impair. for the period	79,071	49,885	76,208	6,990	(1,207)	210,947
   FINANCIAL POSITION Assets Segment assets (excluding investments)	3,660,598	1,194,625	2,161,904	471,909	(118,446)	7,370,590
   Investments in subsidiaries and associates	1,273,219	36,328	120,874	79,952	(1,168,121)	342,252
   Other financial assets	3,159	34	845	192,228	0	196,266
   Total assets	4,936,976	1,230,987	2,283,623	744,089	(1,286,567)	7,909,108
   Liabilities Total liabilities	2,298,355	863,111	1,494,807	173,740	(127,825)	4,702,188
   Total liabilities	2,298,355	863,111	1,494,807	173,740	(127,825)	4,702,188

   STATEMENT OF COMPEHENSIVE INCOME			01/01-30/09/24
   (In 000's Euros)
   Business Operations	Refining	Fuels Marketing	Power and Gas	Other	Eliminations/ Adjustments	Total
   Sales to third parties	5,202,015	3,516,765	579,099	70,898	0	9,368,777
   Inter-segment sales	1,773,994	76,777	15,568	9,642	(1,875,981)	0
   Total revenue	6,976,009	3,593,542	594,667	80,540	(1,875,981)	9,368,777
   Cost of Sales	(6,437,002)	(3,331,676)	(521,728)	(65,435)	1,866,915	(8,488,926)
   Gross profit	539,007	261,866	72,939	15,105	(9,066)	879,851
   Distribution expenses	(32,638)	(205,200)	(29,414)	(1,822)	15,468	(253,606)
   Administrative expenses	(57,387)	(21,400)	(18,920)	(8,093)	(3,059)	(108,859)
   Other Income	42,736	6,023	4,091	122	(730)	52,242
   Other Gain/(loss)	8,419	1,633	(1,426)	1,778	(4,142)	6,262
   Segment result from operations	500,137	42,922	27,270	7,090	(1,529)	575,890
   Finance income	99,337	1,288	27,363	4,309	(18,716)	113,581
   Finance cost	(83,532)	(32,581)	(45,791)	(959)	3,103	(159,760)
   Share of profit/(loss) in associates	0	5,017	6,608	(2,624)	712	9,713
   Profit/(loss) before tax	515,942	16,646	15,450	7,816	(16,430)	539,424
   Other information Additions attributable to acquisition of subsidiaries	0	0	101	0	0	101
   Capital additions	139,463	60,725	34,587	16,274	(23,885)	227,164
   Depreciation/amortization and other impair. for the period	74,323	46,432	70,073	2,787	(1,062)	192,553
   FINANCIAL POSITION Assets Segment assets (excluding investments)	3,569,431	1,161,724	2,056,123	201,541	(158,728)	6,830,091
   Investments in subsidiaries and associates	1,156,112	18,261	97,131	41,628	(943,428)	369,704
   Other financial assets	1,430	500	0	108,377	0	110,307
   Total assets	4,726,973	1,180,485	2,153,254	351,546	(1,102,156)	7,310,102
   Liabilities Total liabilities	2,422,741	851,335	1,409,039	66,582	(167,761)	4,581,936
   Total liabilities	2,422,741	851,335	1,409,039	66,582	(167,761)	4,581,936

   Total

   Other

   Power and

   Gas

   Fuels Marketing

   Refining

   (In 000's Euros)

   01/01-30/09/25

   Business Operations

   At a point in time 4,314,514 3,455,909 0 0 7,770,423

   Over time 0 0 526,012 179,815 705,827

   Total Revenue 4,314,514 3,455,909 526,012 179,815 8,476,250

   Total

   Other

   Power and

   Gas

   Fuels Marketing

   Refining

   (In 000's Euros)

   01/01-30/09/24

   Business Operations

   At a point in time 5,202,015 3,516,765 0 0 8,718,780

   Over time 0 0 579,099 70,898 649,997

   Total Revenue 5,202,015 3,516,765 579,099 70,898 9,368,777

   For the nine-month period of 2025 and the respective one of 2024, no Group customer exceeded the 10% sales benchmark. For the nine-month period of 2025, Company's customer and subsidiary Coral S.A. exceeded the 10% sales benchmark (14.38%). For the nine-month period of 2024, Coral S.A. also exceeded the 10% sales benchmark (13%).

   Group revenue per country is depicted in the following table:

   01/01-30/09/25	01/01-30/09/24
   Country Revenue %	Revenue %

   Greece	57.0%	50.6%
   Gibraltar	6.0%	6.4%
   Libya	4.8%	6.7%
   U.S.A.	4.6%	3.1%
   Croatia	4.1%	3.0%
   Lebanon	3.1%	2.2%
   Cyprus	2.5%	3.8%
   Egypt	2.2%	4.9%
   Netherlands*	1.7%	0.7%
   Italy	1.7%	3.4%
   Morocco*	1.4%	0.7%
   Turkiye	1.2%	2.7%
   Other Countries*	9.7%	11.8%

   *The specific countries' percentage was included for prior year's period 01/01-30/09/24 in "Other Countries".

2. ‌Dividends

   Dividends to shareholders are proposed by the management, at the end of each financial year and are subject to the approval of the Annual General Meeting. The Annual General Meeting, held in June 2025, approved the distribution of total gross dividend for 2024 of Euro 155,096,172 (Euro 1.40 per share).

   It is noted that a gross interim dividend of Euro 33,234,894 (Euro 0.30 per share) for 2024 has been accounted for in October 2024 and paid in January 2025, while the remaining amount (Euro 1.10 per share) has been accounted for in June and paid in July 2025.

   ‌The Board of Directors at its meeting on October 31, 2025 authorized the distribution of a gross amount of Euro 0.35 per share, as an interim dividend for fiscal year 2025.

   It is noted, that based on L. 4646/2019 profits distributed by legal entities, from fiscal year 2020 onwards, are subject to withholding tax at a tax rate of 5%.

3. Goodwill

   The carrying amount of Goodwill for the Group as at 30 September 2025 is € 196,537 thousand and is allocated to the Cash Generating Units as follows:

   GROUP (In 000's Euros)	Goodwill as at 31/12/2024	Additions Impairment		Goodwill as at 30/09/2025
   AVIN OIL SINGLE MEMBER S.A.	16,200	0	0	16,200
   CORAL GAS A.E.V.E.Y.	3,105	0	0	3,105
   GROUP NRG	1,919	0	0	1,919
   L.P.C. S.A.	467	0	0	467
   VERD SINGLE-MEMBER S.A.	1,905	0	0	1,905
   THALIS ES SINGLE MEMBER S.A.	3,870	0	0	3,870
   GROUP MORE	155,573	0	0	155,573
   GROUP HELECTOR	0	3,838	0	3,838
   GROUP CORE INNOVATIONS	0	9,660	0	9,660
   Total	183,039	13,498	0	196,537

   The amount of € 9,660 thousand, shown in the above table as addition in Core Innovations subgroup, relates to the provisional measurement of the value arising from the acquisition of the retail stores of the company "TWENTY 4 SHOPEN S.M.S.A." in January 2025 and of the company "BARISTA GR S.A." in April 2025.

   In addition, the amount of € 3,838 thousand presented as addition, relates to the provisional measurement of the value arising from the acquisition of Helector group in January 2025.

   Goodwill is allocated to cash-generating units and is tested annually for impairment. As at 30 September 2025, there has been no indication of impairment.

4. ‌Other Intangible Assets

   Other intangible assets include the Group's software and rights, which concern mainly the exploitation rights of the subsidiaries "AVIN OIL SINGLE MEMBER S.A.", "CORAL S.A." and "CORAL GAS A.E.V.E.Y.", the service concession rights for the subsidiary "OFC AVIATION FUEL SERVICES S.A.", and the clientele, sales commissions and brand name of the subsidiaries "NRG SUPPLY AND TRADING SINGLE MEMBER S.A." and "TARESSO I.K.E". They also include licenses and clientele of the Group subsidiaries which are operating in the renewable energy sector of sub-group MORE and the clientele of subsidiaries "VERD SINGLE MEMBER S.A." and "THALIS ENVIROMENTAL SERVICES SINGLE MEMBER S.A.".

   At the Group level, during the current period, additions attributed to the acquisition of subsidiaries mainly concern rights, and more specifically fully amortized concession rights of Helector group.

   (In 000's Euros)

COST

Additions attributable to acquisition of subsidiaries

2 15,679 542 0 16,223

Additions 5,090 17,599 123 10,883 33,695

Disposals/Write-off (34) (1,156) (15) 0 (1,205)

Transfers 6,322 2,742 (2,061) (6,388) 615

Additions attributable to acquisition of subsidiaries

471 24,236 93 0 24,800

Additions 3,706 14,135 2 15,016 32,859

Disposals/Write-off 0 (20) (1) 3 (18)

Transfers 3,504 13,981 0 (2,813) 14,672

AMORTIZATION

Amortization charge for the period

6,992 52,359 2,905 0 62,256

Transfers (16) 1,833 (1,805) 0 12

Disposals/Write-off (15) (17) 0 0 (32)

Additions attributable to acquisition of subsidiaries

Amortization charge for the period

295 24,236 30 0 24,561

6,762 41,168 2,229 0 50,159

CARRYING AMOUNT

As at 31 December 2024

As at 30 September 2025

26,788

27,412

635,398

622,326

14,532

12,367

9,285

21,491

686,003

683,596

1. ‌Property, Plant and Equipment

   The movement in the fixed assets for the Group and the Company during the year 01/01-31/12/2024 and the period 01/01-30/09/2025 is presented in the tables below:

   GROUP
   (In 000's Euros)	Land and buildings	Plant and machinery / Transportation means	Fixtures and equipment	Assets under construction	Total

   COST

   As at 1 January 2024 917,609 2,994,636 150,113 347,880 4,410,238

Additions attributable to acquisition of subsidiaries

5 1,624 251 563 2,443

Additions 10,375 27,065 9,823 234,063 281,326

Disposals/Write-off (758) (24,026) (1,534) (1,768) (28,086)

Transfers 43,544 212,701 11,251 (268,111) (615)

Additions attributable to acquisition of subsidiaries

15,336 71,337 4,235 998 91,906

Additions 7,452 11,780 5,424 346,933 371,589

Disposals/Write-off (1,084) (4,257) (413) (305) (6,059)

Transfers 32,897 214,601 286 (262,456) (14,672)

DEPRECIATION

Additions attributable to acquisition of subsidiaries

0 638 192 0 830

Additions 21,671 130,949 9,874 0 162,494

Disposals/Write-off (459) (14,814) (1,308) 0 (16,581)

Transfers 840 (794) (58) 0 (12)

Additions attributable to acquisition of subsidiaries

9,133 52,125 3,164 0 64,422

Additions 17,745 107,079 7,846 0 132,670

Disposals/Write-off (586) (2,363) (342) 0 (3,291)

Transfers 0 42 (42) 0 0

CARRYING AMOUNT

As at 31 December 2024

As at 30 September 2025

675,188

703,497

1,537,204

1,673,782

65,407

64,313

312,627

397,797

2,590,426

2,839,389

The additions to the assets under construction for the Group during the current period mainly refer to the construction of a new propylene splitter complex at the Refinery, the restoration of the units that were damaged in September 2024, the construction of an electrolyzer hydrogen production unit as well as infrastructure improvement projects at the Refinery, gas stations' additions and the construction of wind and photovoltaic parks.

At Group level, the additions in the category of plant, machinery and transportation means, attributed to the acquisition of subsidiaries, are due to the takeover of the Helector Group.

The tangible assets included in the Statement of Financial Position, both of the parent company and its subsidiaries, are in full productive operation. There are no events of natural disaster, abandonment, or indications of technological obsolescence or other impairment indicators as defined by IAS 36.

Some of the above Property, Plant and Equipment has been pledged as security for liabilities of the Group (as referred to Note 10).

1. ‌Inventories

   	GROUP			COMPANY
   (In 000's Euros)	30/09/2025	31/12/2024		30/09/2025	31/12/2024
   Raw materials	506,399	547,322		491,322	526,824
   Merchandise	179,786	197,941		10,446	5,395
   Products	245,905	209,402		226,519	187,028
   CO2 Emission Allowances	0	950		0	950
   Total Inventories	932,090	955,615		728,287	720,197

   Inventories are measured at the lower of cost and net realizable value (NRV). The cost of inventories may not be recoverable if their selling prices have decreased, if these inventories have been damaged, or if they have become completely or partially obsolete. For the current and prior year period, certain inventories were measured at their net realizable value, resulting in charges of the Statement of Profit or Loss and Other Comprehensive Income ("Cost of Sales") for the Group, amounting to € 9,076 thousand for the period 01/01-30/09/2025 and € 58,578 thousand for the prior year's period (Company:01/01-30/09/2025:

   € 9,025 thousand, 01/01-30/09/2024: € 58,182 thousand). During the current period, there was a reversal of the amount resulting from the write down to net realizable value charged on the Company and Group level amounting to € 470 thousand. There was no respective reversal in the prior year's period.

   The charge per inventory category is as follows:

   	GROUP			COMPANY
   (In 000's Euros)	30/09/2025	30/09/2024		30/09/2025	30/09/2024
   Raw materials	4,600	40,748		4,600	40,748
   Merchandise	161	6,908		110	6,512
   Products	3,845	10,440		3,845	10,440
   CO2 Emission Allowances	0	482		0	482
   ‌Total	8,606	58,578		8,555	58,182

   10. Borrowings
   	GROUP			COMPANY
   (In 000's Euros)	30/09/2025 31/12/2024			30/09/2025 31/12/2024
   Borrowings 2,785,553		2,647,603	1,395,555		1,305,539
   Unamortized balance of capitalized profits from loan agreements (16,980)		(12,942)	(3,627)		(581)
   modifications*
   Unamortized balance of capitalized (15,710)		(18,462)	(7,401)		(8,843)
   Total Borrowings 2,752,863		2,616,199	1,384,527		1,296,115
   *The loans that were modified during the year and the period concern mainly MORE subgroup. The borrowings are repayable as follows:
   	GROUP			COMPANY
   (In 000's Euros)	30/09/2025	31/12/2024		30/09/2025	31/12/2024
   On demand or within one year	581,591	210,564		418,138	64,516
   In the second year	283,873	620,741		118,450	453,766
   From the third to fifth year inclusive	1,287,109	1,332,690		668,722	720,081
   After five years	632,980	483,608		190,245	67,176

   The total cost of inventories recognized as an expense in the "Cost of Sales" for the Group was € 7,625,471 thousand and € 8,303,144 thousand for the period 01/01-30/09/2025 and 01/01-30/09/2024, respectively (Company: 01/01-30/09/2025: € 5,268,035 thousand, 01/01-30/09/2024: € 5,959,626 thousand).

   loan expenses

   profits from loan agreements (16,980) modifications	(12,942)	(3,627)	(581)
   Unamortized balance of capitalized (15,710)	(18,462)	(7,401)	(8,843)
   Total Borrowings 2,752,863	2,616,199	1,384,527	1,296,115
   Less: Amount payable within 12 months (shown under current 581,591 liabilities)	210,564	418,138	64,516
   Amount payable after 12 months 2,171,272	2,405,635	966,389	1,231,599

   Unamortized balance of capitalized

   loan expenses

   Analysis of borrowings by currency on 30/09/2025 and 31/12/2024 is:

   	GROUP			COMPANY
   (In 000's Euros)	30/09/2025 31/12/2024			30/09/2025 31/12/2024
   Loans' currency
   EURO	2,752,863	2,616,199	1,384,527	1,296,115
   Total Borrowings	2,752,863	2,616,199	1,384,527	1,296,115
   The Group has the following borrowings	:

   Expiration Date Balance as at	Balance as at
   30.09.2025	31.12.2024
   Bond Loan €400,000 July (traded at Euronext Dublin Stock 2026 € 400,000	€ 400,000
   Bond Loan €200,000 March (traded at Athens Stock 2028 € 200,000	€ 200,000
   Bond Loan July € 180,000	€ 50,000
   Bond Loan July € 100,000	€ 100,000
   Bond Loan September € 0	€ 8,000
   Bond Loan September € 0	€ 4,000
   Bond Loan November € 60,000	€ 120,000
   Bond Loan January € 0	€ 6,615
   Bond Loan January € 0	€ 6,675
   Bond Loan July € 36,000	€ 43,200
   Bond Loan February € 300,000	€ 300,000
   Bond Loan December € 9,555	€ 7,049
   Bank Loan December € 10,000	€ 10,000

   1. "MOTOR OIL" has been granted the following loans as analyzed in the below table (in thousands €):

      Exchange)

      Exchange)

      €300,000 2033

      €100,000 2028

      €20,000 2025

      €10,000 2025

      €200,000 2027

      €10,584 2027*

      €10,680 2027*

      €90,000 2030

      €300,000 2029

      €32,612 2035

      €40,000 2035

      	Bond Loan June 2027 € 30,000	€ 50,000
      	Bond Loan April 2027 € 40,000	€ 0
      	Bond Loan June 2030 € 30,000	€ 0

      €300,000 (4-year extension)

      €100,000 (3-year extension)

      €40,000

      *The specific loans were fully repaid earlier than the original maturity date.

      The total short-term loans (including short-term portion of long-term loans) with duration up to one-year amount to € 418,138 thousand.

   2. "AVIN OIL SINGLE MEMBER S.A." has been granted the following loans as analyzed in the below table (in thousands €):

      Expiration Date Balance as at	Balance as at
      30.09.2025	31.12.2024
      Bond Loan March € 2,000	€ 4,000
      Bond Loan August € 805	€ 158
      Bond Loan September € 115,000	€ 125,000

      €17,500 2028

      €873 2033

      €140,000 2028

      Total short-term loans (including short-term portion of long-term loans) with duration up to one year amount to € 7,973 thousand.

   3. "CORAL" subgroup has been granted the following loans as analyzed in the below table (in thousands

€/$):

€35,000 2028

€80,000 2029

€100,000 2029

€35,000 2028

€30,000 2028

$17,000* 2028

$17,000* 2028

€2,307** 2029

€1,530** 2028

€1,350** 2030

€987** 2029

€1,125 2030