The General Meeting of the shareholders of GEK TERNA recently approved the sale of the RES portfolio and related activities to Masdar. It is recalled that the above procedure follows the acquisition agreement for €3.2 billion by the international group.

Following the completion of the above transaction, GEK TERNA retains the right to participate in up to 50% in new investments in floating wind (Alexandroupolis) as well as in pumped storage projects.

It is recalled that the transaction with Masdar will strengthen the cash position of GEK TERNA -0,80% by approximately €900 million and will serve to reduce consolidated debt liabilities by €1.1 billion.

In addition, the company, through a new subsidiary, retains the right to invest in energy projects and activities related to complex technological projects (e.g., electronic ticketing).

According to the company's chairman, George Peristeris, on the procedural side, regulatory approval from the Polish authorities is expected (the Greek group has a presence there as well), and subsequently Masdar will proceed with a public offer for 67% of the listed company.

PERISTERIS STATEMENT

The full text of G. Peristeri's speech follows. Read more:

"Dear Shareholders, Ladies and Gentlemen,

I welcome you to the Extraordinary General Meeting of our Group, with the sole purpose of approving on your behalf the proposed transaction with Masdar for the sale to the latter of the stake held by GEK Terna in our subsidiary TERNA ENERGY for the amount of EUR 20 per share.

As we have mentioned above, the completion of the transaction will bring additional liquidity of EUR 900 million to the group's coffers, while it will further improve the financial profile of GEK TERNA, as it will also remove EUR 1 billion of related debt.

It is crucial to emphasize that the aforementioned agreement gives GEK TERNA the opportunity to take part in the new generation of clean energy generation and storage investments that TERNA ENERGY will implement in the future, such as offshore wind farms and pumped storage projects, among others. This participation will maintain our investment presence in promising new energy infrastructure sectors while also benefiting our subsidiary TERNA, which maintains a leading role in the construction of key energy projects.

Let me reiterate, because it is very important to understand how we are moving forward, that this transaction is not an isolated move. It is part of a broader strategic plan that has been unfolding for years and which aims to make GEK TERNA a dominant force in infrastructure of all kinds at the European level.

And our efforts are paying off. GEK TERNA has indeed become a leader in the construction and concessions sectors, having now in its portfolio projects and infrastructure of very high value, ensuring an even better future for our employees, our partners, and of course our shareholders, all of you.