Full Year/Fourth Quarter 2012 Financial Results

Positive results despite challenging environment; New Elefsina refinery started contributing and refinancing successfully completed

Key figures for the FY and 4Q period to 31 December 2012 are:

4Q11	4Q12	*% Δ*	All numbers in €m	FY11	FY12	*% Δ*
76	78	2%	Adjusted EBITDA	363	444	22%
(4)	13	-	EBITDA	335	298	-11%
16	23	41%	Adjusted Net Income	137	232	70%
(48)	(30)	-	Net Income	114	84	-26%
-	-	-	Capital Employed	4,217	4,350	3%

The Group reported a good set of full year operating results with Adjusted EBITDA at €444m, up 22% vs LY. Main drivers were the higher benchmark margins (by $1/bbl on average), the start-up of