Information about MYTILINEOS S.A.

General Information

MYTILINEOS S.A. was founded in 1990 as a metallurgical company of international trade and participations, is an evolution of an old metallurgical family business which began its activity in 1908.

The group’s headquarters is located in Athens – Maroussi (8 Artemidos Str., P.C. 151 25) and its shares were listed in the Athens Stock Exchange in 1995.

The financial statements for the year ended 31.12.2022 (along with the respective comparative information for the previous year 2021), were approved by the Board of directors on 08.03.2023 and the approval of the Annual General Meeting of shareholders is pending.

Nature of activities

During the last ten years the Company’s activities have expanded from the traditional sector of international metal’s trading to those of construction and energy. The aim is the development of synergies between the four different areas of activities.

The object of the Company is:

a) To participate in the capital of other undertakings;

b) To produce and manufacture alumina and aluminium in Greece and to trade in same in any country;

c) To manufacture metal structures of any type;

d) To perform the design, construction, operation, maintenance, management and exploitation of plants for the generation of electrical energy from any source in general;

e) To engage in power and heat generation, trading, supply, transmission and distribution, the import and export, acquisition and transfer of electricity, and heat;

f) To carry on all types of activities relevant to the building, repair and scrapping (breaking) of ships and, in general, defense material;

g) To engage in the production, extraction, acquisition, storage, gasification, transport, distribution and transfer (including by sale/supply) of natural gas;

h) To elaborate studies, undertake the construction of public and private technical projects and works of any nature, to perform assembly and installation activities for the structures and products produced by the Company in Greece and abroad;

i) To construct, operate and exploit hydraulic, sewerage and other similar installations to serve the purposes of the Company and/or other third parties whom the Company does business with;

j) To produce and sell steam, water (indicatively demineralized water, water for firefighting, etc.) as well as;

k) To provide various services to third parties with whom the Company does business with, including, indicatively, services for a) decontamination, b) firefighting, c) monitoring and recording air quality, d) collection, transportation, disposal and management of solid and liquid waste and wastewater, etc.;

l) To elaborate feasibility studies with respect to processes for the operation of power and heat generation plants of all types,

m) To purchase, erect, sell and resell real property, and to acquire, lease, rent, sublease, install, develop and exploit mines and quarries, industrial sites and shops;

n) To provide advice and services in the areas of business administration and management, administrative support, risk management, information systems, financial management;

o) To provide services in connection with market research, analysis of investment programmes, elaboration of studies and plans, the commissioning, supervision and management of the relevant work, risk management and strategic planning, development and organization;

p) To carry on any business act and undertake any activity or action directly or indirectly related to the above objects of the Company.

Group Structure

The Group Structure as at 31.12.2022 is presented on the following table:

Group branches:

The consolidated Financial Statements of the period ended December 31, 2022 also include the following companies as assets:

(1) HERA SUN POWER PRIVATE LIMITED, established in February 2022 by the 100% subsidiary of METKA Group EGN Singapore Holdings 3 Pte Ltd, (2) MYT HOLDCO CLEAN ENERGY SRL, established in February 2022 by the 100% subsidiary of METKA Group — EGN LTD Cyprus, (3) MYT STRUGA SP. ZOO and MYT WITKOW SP. ZOO, acquired in February 2022 by the 100% subsidiary of METKA Group — EGN LTD Cyprus, (4) MYT HRVATSKA D.o.o., established in March 2022 by the 100% subsidiary of METKA Group — EGN LTD Cyprus, (5) MYT UK HOLDING 1 LIMITED, established in May 2022 by the 100% subsidiary of METKA Group — EGN LTD Cyprus, (6) NAMWOON A CO LTD and NAMWOON B CO LTD, acquired in May 2022 by the Group's 100% subsidiary METKA Korea Co Ltd, (7), SOLAR CHALLENGE 3 SRL, acquired in May 2022 by the Group's 100% subsidiary METKA EGN Solar 5 SL, (8) NLSOLARE SRL, acquired in May 2022 by the 100% subsidiary of METKA EGN Solar 5 SL Group, (9) UBH SOLAR ITALIA SRL, acquired in May 2022 by the 100 % subsidiary of METKA Group EGN Solar 5 SL, (10) METKA-EGN Holdings 2 LTD, established in May 2022 by 100% subsidiary of the Group METKA-EGN Ltd Cyprus in May 2022, (11) ROSEDALE SOLAR HOLDINGS PTE LTD, established by the 100% subsidiary of METKA Group EGN Singapore Holdings Pte Ltd, (12) SELSSE SOLAR HOLDINGS I LTD, DOCKING FARM SOLAR LTD and NORTH FARM SOLAR EXTENSION LTD, acquired in June 2022 by the 100% subsidiary of MYT Group UK Holding 1 Limited, (13) LUXENIA SRL, acquired in June of 2022 by the 100% subsidiary of METKA Group EGN Solar 5 SL, (14) MYT SARDINIA 1 SRL, MYT SARDINIA 2 SRL, MYT SARDINIA 3 SRL, MYT SARDINIA 4 SRL, MYT SARDINIA 5 SRL and MYT SARDINIA 6 SRL from the split of the 100% subsidiary of METKA Group EGN Sardinia SRL, (15) Haunton Farmers' Solar Limited, acquired in June 2022 by the Group's 100% subsidiary SELSSE SOLAR HOLDINGS I LTD, (16) KINGAROY SF FINANCE CO PTY LTD, established in June 2022 by the 100% subsidiary of the Group KINGAROY PROPERTY CO PTY LTD, (17) MOURA SF FINANCE CO PTY LTD, established in in June 2022 by the 100% subsidiary of the Group MOURA SOLAR FARM SPV PTY LTD , (18) WYALONG SF FINANCE CO PTY LTD, established in June 2022 by the 100% subsidiary of the Group WYALONG SOLAR FARM PTY LTD, 19) METKA-EGN Holdings 3 LTD, established in August 2022 by the 100% subsidiary of Group METKA — EGN LTD Cyprus, (20) MYT APULIA H2 S.R.L, acquired in August 2022 by the Group’s 100% subsidiary METKA EGN SOLAR 5 SL, (21) MYT APULIA STORAGE 1 S.r.l, MYT APULIA STORAGE 2 S.r.l and MYT APULIA STORAGE 3 S.r.l, acquired in August 2022 by the 100% subsidiary of the Group METKA EGN SOLAR 5 SL, (22) MYT UK Holding 2 Limited and MYT UK Holding 3 Limited, established in August 2022 by the 100% subsidiary of the Group METKA — EGN LTD Cyprus, (23) Green Farm Solar Limited, acquired in September 2022 by the 100% subsidiary of the Group SELSSE SOLAR HOLDINGS I LIMITED, (24) RENEWABLE ADVENTURE 3 S.R.L, acquired in September 2022 by the 100% subsidiary of the Group METKA EGN SOLAR 5 SL , (25) SELSSE SOLAR HOLDINGS I LTD, acquired in September 2022 by the 100% subsidiary of the Group MYT UK HOLDING 1 LIMITED , (26) Whirlbush Solar Limited, acquired in September 2022 by the 100% subsidiary of the Group MYT UK HOLDING 2 LIMITED, (27) MUNNA CREEK HOLDING PTE LTD, established in October 2022 by the 100% subsidiary of the Group METKA EGN SINGAPORE HOLDINGS PTE LTD, (28) MYT UK Holding 4 Limited and MYT UK Holding 5 Limited, established in October 2022 by the 100% subsidiary of the Group METKA — EGN LTD Cyprus, (29) CATCH THE SUN 2 S.R.L. and CATCH THE SUN 5 S.R.L., established in April 2022 by the 100% subsidiary of the Group METKA EGN SOLAR 5 SL, (30) RALOS DEVELOPMENT FOTOVOLTAICO SUR, SOCIEDAD LIMIT, acquired in November 2022 by the 100% subsidiary of the Group METKA EGN SOLAR 4 SL, (31) VIFRA ENERGY S.R.L., acquired in November 2022 by the 100% subsidiary of the Group METKA EGN SOLAR 5 SL, (32) GREEN GENIUS 7 S.R.L, GREEN GENIUS 8 S.R.L and GREEN GENIUS 16 S.R.L ,acquired in December 2022 by the 100% subsidiary of the Group METKA EGN Solar 5 SL, (33) SUNLIGHT VENTURE SRL, acquired in December 2022 by the 100% subsidiary of the Group METKA — EGN LTD Cyprus.

The consolidated Financial Statements of the period ended December 31, 2022 also include the following companies under full consolidation method:

(1) EGNATIA WIND SOLE SOLE SHAREHOLDER SA, an acquired company, fully consolidated since 28/02/2022 at a percentage of 100%, (2) MYTILINEOS — SOLE SHAREHOLDER TECHNOLOGY AND DIGITAL INNOVATION SA, established on 20/04/2022, (3) MYTILINEOS Heat and Power Generation, established on 11/05/2022, (4) AENAOS ENERGY SYSTEMS SOLE SHAREHOLDER SA, an acquired company, fully consolidated since 24/06/2022 at a percentage of 100%, (5) PROTERGIA ENERGY ALBANIA LTD, established and fully consolidated since 06/07/2022 at a percentage of 100%, (6) PROTERGIA ENERGY DOOEL Skopje, established on 06/09/2022, (7) MYT EPC Ireland Limited, established and fully consolidated since 12/12/2022 at a percentage of 100% and (8) ΜΥΤ Bulgaria established and fully consolidated since 19/09/2022 at a percentage of 100%.

The consolidated Financial Statements of the period ended December 31, 2022 also include the following companies under proportional method:

(1) J/V MYTILINEOS — EUSIF, consolidated under proportional method since 12/10/2022 at a percentage of 50% and (2) J/V TERNA — MYTILINEOS (J/V Rododafni-Rio), consolidated under proportional method since 16/11/2022 at a percentage of 50%, (3) J/V TERNA — MYTILINEOS (J/V Kiato- Rododafni), consolidated under proportional method since 04/07/2022 at a percentage of 50%, (4) ) J/V AVAX — MYTILINEOS, consolidated under proportional method since 16/12/2022 at a percentage of 50%

The consolidated Financial Statements of the period ended December 31, 2022 also include the following companies under equity method:

(1) KENDRINOS LOFOS, consolidated under equity method since 14/12/2022 at a percentage of 50% and (2) KENDRINOS LOFOS OPERATION, consolidated under equity method since 15/12/2022 at a percentage of 50%.

Business combinations and changes in non-controlling transactions

Acquisition of Egnatia Wind Energy Sole Shareholder SA

In February 2022, the Company acquired 100% of the company Egnatia Wind Energy Sole Shareholder S.A. («Egnatia Wind») at a consideration of € 7.2 million. The newly acquired company was consolidated under full consolidation method and contributed loss after taxes of € 0.77 million to the consolidated results at the year end 2022.

Egnatia Wind Energy Sole Shareholder S.A. («Egnatia Wind») operates in production, distribution and exploitation of electricity, produced from both — renewable and conventional sources of energy. The strategic partnership with Egnatia Wind will enable the Company to expand its presence in Renewable Energy Sources (RES) projects, as it has a total portfolio of 28 electricity generation projects using solar energy (photovoltaic parks) of total capacity 191.5 MW.

The fair value of total assets acquired and the liabilities assumed by the Group as well as the arising goodwill has been finalized by the year end of 2022, in accordance with the provisions of IFRS 3. The values of the assets acquired as well as the liabilities assumed by the Group on the acquisition date are presented below as follows:

Goodwill mainly arose from the prospects related to the expected growth of the segment, where the acquired company operates.

Acquisition of Aenaos Energy Systems Sole Shareholder SA

In June 2022, MYTILINEOS acquired 100% of the company Aenaos Energy Systems Sole Shareholder SA («AENAOS») at a consideration of € 0.3 million. The newly acquired company was consolidated under full consolidation method without materially affecting the consolidated financial statements.

AENAOS operates in the domain of electricity production using storage batteries and holds 22 related licenses. The fair value of the total assets acquired as well as the liabilities assumed by the Group and the arising goodwill are presented below as follows:

The consolidated Financial Statements for the period ended December 31, 2022 no longer include the following companies:

(1) RDA TRADING, (2) RODAX ROMANIA SRL, (3) THERMOREMA ECOLOGICAL ENERGY SA, disposed in September 2022 at a consideration of € 1.44 million, (4) J/V MYTILINEOS ELEMKA — ENVIROFINA. Moreover, the company ELECTRICITY TRANSFER PROJECTS SOLE SHAREHOLDER LTD was absorbed by Mytilineos SA on 03/06/2022.