12 October 2018

Reduction of nominal value of Company shares

J&P-AVAX SA announces that the 2nd Repeat Extraordinary General Meeting of its shareholders held on 03.09.2018 approved a 21,743,358 euro reduction of Company share capital through the capitalization of an equal amount of accumulated losses from the “Profit carried forward” capital reserve.

The reduction of the share capital will come about through the decrease of the shares’ nominal value from 0.58 euro to 0.30 euro.

With its decision #92995/07.09.2018, the Finance & Development Ministry approved the amendment of the relevant article of the Company Charter. The Corporate Actions Committee of the Athens Stock Exchange was informed of the reduction in the nominal value of Company shares on 11.10.2018.

Therefore, Company shares will commence trading on the Athens Stock Exchange on 17.10.2018 at the new nominal value of 0.30 euro.

Marousi, October 12, 2018