Significant Related Party Transactions

The commercial transactions of the Group and the Company with related parties during 2022, were realized under the common commercial terms. The Group or any of its related parties has not entered in any transactions that were not in an arm’s length basis, and do not intent to participate in such transactions in the future. No transaction was under any special terms and conditions.

The tables bellow present the intercompany sales and transactions, among the Parent Company and its subsidiaries, associates and the key management personnel as at 31^st December 2022 and 31^st December 2021:

Other employees benefits of 31/12/2022 have been significantly differentiated in relation to the previous year as, within the year 2022. An amount of € 140,906 thousand was accounted for, concerning the completion of the implementation of the purpose of the contract between the Company and the CEO, according to the service contract approved by the General Assembly from 7 June 2018. It is noted that the payment of € 98,665 thousand was made in February 2023 and the corresponding tax of € 42,241 thousand was also paid.

The Company at 31/12/2022, has implemented share-based payments for its employees and executives. In particular, under the effective agreements, the Company’s employees and executives are granted the option to receive equity securities (shares) of the parent company, given that certain conditions of vesting have been met.

None of the existing equity-based payment agreement plans are settled in cash.

Services received in return for equity-based payments are measured at fair value. The fair value of the services of executives and employees, at the date when the stock option is granted, is recognized in accordance with IFRS 2 as an expense in the income statement, with a corresponding increase in equity, during the period in which the services, for which the options are granted, are received.

Total expenses of the options during the vesting period are calculated based on the fair value of the options provided at the granting date. The expenses are allocated over the vesting period, based on the best available estimate of the number of stock options expected to be vested. The fair value of the options is measured by adopting an appropriate valuation model to reflect the number of options for which the performance conditions of the plan are expected to be met.