Ote Ads Regulatory News (OTES)

69th ORDINARY GENERAL MEETING OF SHAREHOLDERS

ATHENS, Greece - June 9, 2021 - Hellenic Telecommunications Organization S.A. (ASE: HTO, OTC MARKET: HLTOY), the Greek full-service telecommunications provider (hereinafter "OTE" or "OTE S.A."), held today through teleconference the 69th Ordinary General Meeting of Shareholders, where shareholders representing 82.8% of its paid up share capital participated (excluding OTE own shares).

During the meeting, the agenda items were discussed and Shareholders approved by majority the Annual Financial Statements of OTE S.A. for the fiscal year 2020 (1/1/2020-31/12/2020) (Consolidated and Separate) under IFRS, with the relevant Board of Directors' and Statutory Auditors' Reports. Shareholders also approved the distribution of dividend amounting to €0.68 per share (1). The ex-dividend date will be Friday, June 25, 2021 and record date Monday, June 28, 2021. The dividend payment date will be Friday, July 2, 2021.

The Shareholders also decided by majority:

· The approval, according to article 108 of Law 4548/2018, of the overall management of the Company by the Board of Directors during the fiscal year 2020 and the exoneration of the Auditors for the fiscal year 2020, pursuant to article 117 par. 1(c) of Law 4548/2018.

· The appointment of the Audit Firm Price Waterhouse Coopers for the statutory audit of the Financial Statements of OTE S.A. (Consolidated and Separate), in accordance with the International Financial Reporting Standards, for the fiscal year 2021.

· Final determination of the remuneration and expenses of the members of the Board of Directors for their participation in the proceedings of the Board of Directors and its Committees during the fiscal year 2020. Determination of the remuneration and expenses of the members of the Board of Directors for their participation in the proceedings of the Board of Directors and its Committees for the fiscal year 2021 and pre-approval for their payment until the Ordinary General Meeting of the Shareholders which will take place within 2022 and will finally determine them.

· The approval of the variable remuneration of the executive members of the Board of Directors for the fiscal year 2020. 

(1) Given that own shares do not receive dividend, the total amount of the dividend per share that will be paid out, will be increased by taking into account the amount of the dividend corresponding to the own shares held by the Company at ex-dividend date.

· Granting of a special permission, according to articles 97 par.3, 99 par.1, 2 and 100 par.2 of Law 4548/2018, for the continuation for the period 31/12/2021 until 31/12/2022 of the insurance coverage of Directors & Officers of OTE S.A. and its affiliated companies, against liabilities incurred in the exercise of their competences, duties and powers.

· The approval of the cancellation of 3,469,500 own shares purchased by the Company under the approved own share buy-back program in order to cancel them, with the corresponding reduction of its share capital by the amount of €9,818,685.00, according to article 49 of Law 4548/2018 and the subsequent amendment of article 5 (Share Capital) of the Company's Articles of Incorporation.

· The approval of the "Suitability Policy for the members of the Board of Directors", in accordance with Law 4706/2020 and the Hellenic Capital Market Commission's Circular No. 60/18.09.2020.

· Granting of permission, according to article 98 par.1 of Law 4548/2018 and article 14 of the Articles of Incorporation, to the Members of the Board of Directors and Officers to participate in boards of directors or in the management of OTE Group companies with the same or similar objectives.

· The Audit Committee to be a committee of the Board of Directors, consisting of three (3) independent non-executive members of the Board of Directors, whose term of office will be the same as their term in the Board.

In addition, due to expiration of the current Board term of office, a new ten-member Board of Directors was elected for a three-year term.

The new Board of Directors was formed into a corporate body on same day. Following this, the composition of the ΟΤΕ's Board of Directors is as follows:

1. Mr. Michael Tsamaz, Chairman and CEO, Εxecutive member

2. Mr. Eelco Blok, Vice-Chairman, Independent non-Executive member

3. Mr. Charalampos Mazarakis, Executive member

4. Dr. Robert Hauber, non-Executive member

5. Ms. Kyra Orth, non-Executive member

6. Ms. Dominique Leroy, non-Executive member

7. Mr. Michael Wilkens, non-Executive member

8. Ms. Catherine de Dorlodot, Independent non-Executive member

9. Mr. Dimitrios Georgoutsos, Independent non-Executive member

10. Mr. Grigorios Zarifopoulos, non-Executive member

In the composition of the Board of Directors Ms. Catherine de Dorlodot and Mr Grigorios Zarifopoulos participate for the first time.

The term of office of the above Board members expires at the Ordinary General Meeting of the year 2024.

Also, following the foregoing decision of the Shareholders regarding the kind and composition of the Audit Committee as well as the term of office of its members, the Board of Directors elected the members of the Audit Committee and the Committee was formed on the same day into a corporate body as follows: Mr. Eelco Blok, (Chairman - Independent non-executive member of the Board), Mr. Dimitris Georgoutsos, (Member - Independent Non-executive member of the Board) and Ms. Catherine de Dorlodot, (Member - Independent Non-executive member of the Board).

The detailed voting results on the items of the agenda will be published within five (5) days, in accordance with applicable legislation.

FOR FURTHER INFORMATION:

OTE GROUP INVESTOR RELATIONS

Department of Financial Communication & Relations with Regulatory Authorities

E-mail: iroffice@ote.gr