REPLY TO A QUERY OF THE CAPITAL MARKET COMMISSION

Following the queries raised by the Hellenic Capital Market Commission, in its document with ref. no. 1689/22.06.2023, regarding the announcement dated 03.04. 2023 of our company to the ATHEX (regarding the conclusion of a joint bond loan in the context of cofinancing loans of the Recovery and Resilience Facility for the needs of the investment project involving the construction of a hotel unit in Paros), in relation to the press articles according to which "the State Council of Greece blocked the large tourist investment in Paros", we would like to indicate the following:

Within the framework of the advisory jurisdiction of the Council of State on regulatory Presidential Decrees, an opinion was issued on the draft Presidential Decree under consideration regarding the approval of a Special Urban Plan (SUP) and the determination of land use and building conditions and restrictions, as well as the environmental approval of the SUP, in the area where the company's hotel unit will be developed in Paros. 

EKTER is already addressing the issue in a thorough and diligent manner. With the support of its design team and its legal advisors, it is currently examining this matter in order to definitively resolve the pending issues that have arisen and to reestablish the SUP within the framework set by the opinion of the Council of State. 

It is clarified that the opinion issued does not imply the cancellation of our investment, as wrongly presented in the various publications. In fact, we perceive this opinion as an opportunity to clarify and complete the SUP dossier points indicated by the Council of State, in order to ensure perfect legality and compatibility of our plan with urban planning, environmental and archaeological regulations. 

Finally, we would like to stress that this development does not affect the company's vision of a tourist complex, developed in a unique, green and mild manner in Paros, firmly adhering to our commitment to support sustainable development and the protection of our country's natural and cultural heritage.