Greek Corporates International Exposure & IR Practices The example of OPAP Nikos Polymenakos OPAP, IR Director September 2015

The example of OPAP

3 Greek Corporates International Exposure & IR Practices| The example of OPAP OPAP Group Who we are The leading gaming company in the Greek market  Established in 1958  Exclusive operator for numerical lottery and sports betting games in Greece  100% private since October 2013  2014: wagers of €4,259.1m and EBITDA of €346.5m  c. 71% of the total Greek legal gaming market  834 employees (June 2015)  4600 POS: The largest retail network in Greece

4 Greek Corporates International Exposure & IR Practices| The example of OPAP OPAP Group Who we are One of the most extrovert, from an investing perspective, companies of the Athens Exchange  Market cap.: €2,7 bil. (Sep. 2015)  More than 30k shareholders  c. 60% foreign institutional investors  Coverage by 16 brokerage houses  Indices participation: GD, DOM, FTSE, SAGD, FTSEA, DTA, GT30P, GT30R, GT30TP, GT30TR, FTSECE, FTSECEU, TR_FTSECE, TR_FTSECEU, FTSENTR, HELMSI

5 Greek Corporates International Exposure & IR Practices| The example of OPAP OPAP Group Company’s gradual privatization process October 2013 onwards: 100% private Initial Public Offering (IPO) - 5,36% at €5,50 25/04/2001 Secondary Offering - 18,90% at €8,44 18/07/2002 Secondary Offering - 24,45% at €9,44 14/07/2003 Secondary Offering - 16,44% at €24,14 21/07/2005 Public Tender - 33,00% at €6,20 11/10/2013

6 Greek Corporates International Exposure & IR Practices| The example of OPAP OPAP Group Road shows participation Road shows Sector Consumer / Leisure / Gaming Sector Consumer / Leisure / Gaming Regional Greece; SE Europe Regional Greece; SE Europe Athens Exchange road show in New York & London annually participation in 10 Road Shows meeting 238 investors (so far) 2015 (so far) participation in 6 Road Shows meeting 145 investors

7 Greek Corporates International Exposure & IR Practices| The example of OPAP OPAP Group IR tools Website Press Releases Presentation Conference calls NewsletterFact Sheet Company Profile Annual Report

The Greek Market

9 Greek Corporates International Exposure & IR Practices| The example of OPAP The Athens Exchange High international exposure 2015 Investor Participation At the highest level since 2005, despite the macro crisis International Participation as % of total market cap.

10 Greek Corporates International Exposure & IR Practices| The example of OPAP The Athens Exchange Attractive valuations ATHEX market capitalization Standing at c. 20% of the GDP € bil.; end of period data

11 Greek Corporates International Exposure & IR Practices| The example of OPAP The Athens Exchange Greek Equities attractions Foreign investors market criteria  Record high trading volume  Participate in indices such as MSCI and FTSE  Have extended brokerage coverage both international & local &  Proactive management & effective Investor Relations teams communicating regularly business strategy and financial performance

12 Greek Corporates International Exposure & IR Practices| The example of OPAP The Athens Exchange High trading volume Average Daily Traded Volume mil. shares % -28.2% 0.7%47.7%8.4%77.5%92.2%

13 Greek Corporates International Exposure & IR Practices| The example of OPAP The Athens Exchange Indices Reclassification to Advanced Emerging Market from Developed Market effective from March 2016 Classification as Advanced Emerging Market since 2013 Greek Corporates although now classified in the Advanced Emerging Market still possess Developed market characteristics: Transparency Adoption of international Corporate Governance Standards Delivery of attractive financial performance

14 Greek Corporates International Exposure & IR Practices| The example of OPAP The Athens Exchange Annual Greek Road Shows in London and New York Location London Organization Athens Exchange in cooperation with Bloomberg Athens Exchange in cooperation with Bloomberg Frequency Annually in September for 10 consecutive years now Annually in September for 10 consecutive years now Participations # of listed companies3128 # of investors/analysts>260>250 # of meetings>1,300>1,400 Provides Greek Corporates with quality meetings coupled with substantial exposure and media coverage The London experience

15 Greek Corporates International Exposure & IR Practices| The example of OPAP Corporate Governance in Greece Application of best practices Greek Corporates are gradually adapting high Corporate Governance standards Hellenic Federation of Enterprises (SEV) issued a set of Corporate Governance principles Establishment of the Hellenic Corporate Governance Council that prepared a Code for listed companies in 2013 Most of the companies are gradually adapting part or the majority of this Code Few companies have also adopted additional policies based on best international practices

16 Greek Corporates International Exposure & IR Practices| The example of OPAP Greek Corporates Fields for improvement 01 Extensive adoption of the Hellenic Corporate Governance Code 02 Adoption of state-of- the-art IR tools like mobile apps 03 Participation in sustainability indices 04 Planning and implementation of thorough CSR actions 05 Facilitation of foreign investors’ participation to companies’ GM (for example e-voting) 06 Integrated Annual Reports Foundation of a Hellenic Investor Relations Society

Greek Corporates International Exposure & IR Practices The example of OPAP Thank you!