Legislative regulation on the utilization of the ATTIKO METRO S.A. assets

As regards the legislative regulation on the utilization of the ATTIKO METRO S.A. (AM) assets and the misinformation that has been developed, AM hereby clarifies as follows:

1. Athens Metro Lines 2 and 3 network constitutes – in its entirety – an asset of AM;

2. The network was exclusively constructed by means of funds provided by the Public Investments Program (P.I.P.) and of loans granted by the European Investment Bank. The capital of the EIB loans is paid off through the P.I.P funding, while interests and warrantees are to be paid off through the operation of the network and the commercial utilization of the Metro areas, in general;

3. For obvious synergy reasons, through Law 3920, Article 1, paragraph 4(b), AM was given the option to make available to STASY, further to a pertinent agreement, certain areas for utilization purposes. Such an agreement is pending, not on AM’s liability, and STASY has been utilizing AM’s network until the present day, without any institutional basis.

4. Again, for obvious synergy reasons, by virtue of the recent regulation, AM can make available, further to a pertinent agreement, certain areas to OASA, as the case is with STASY.

5. ΑΜ has received no subsidy through the P.I.P. or through any other source, except the amounts corresponding to executed projects. It is only through the utilization of its entire property, that AM can pay off its remaining liabilities (mainly interests and warrantees). Utilizing the option given by the legislative regulations for synergies with STASY and OASA is at AM’s discretion and, if so, AM will also profit from it. Any different approach would mean indirectly subsidizing the operation either of STASY or of OASA, to the detriment of AM, and this is something we do not intend to do.

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