GENTER: Temporary contractor in the project of concession of the Northern Road Axis of Crete (B.O. A.C. )

The (Bloomberg: GEKTERNA GA / RIC: HRMr.AT) announces, in a follow-up to a relevant question from the Capital Market Commission, that a temporary contractor has been appointed to the project “STUDY – CONSTRUCTION – FINANCING – OPERATION – CONSTRUCTION AND EXTRUCTION OF THE NORTH CRETE ODD (B.O. A.K.) IN THE HANIA – HERAKLEION SECTION”. The concession period is 35 years, of which up to five (5) years is the study-construction period. The total length of the section of Chania-Heraclio is 187 km (including 30 km concerning the pre-anticipated section Kissamos-Hania). Crete is the largest island in Greece with a permanent population of about 700,000 and the most popular tourist destination in the country, with the largest number of international arrivals. The total length of the Northern Road Axis of Crete is approximately 300 km, including the sections “Hersonisos-Aghios Nikolaos” (under construction through PPP) and “Saint Nicholas-Napoli”. BOAK is considered the largest motorway under construction throughout Europe at that time. Taking over the concession of the Chania – Heraklion department of BOAK marks an extremely positive and multiple significant development, with many benefits for the Group and its shareholders. It strengthens the size and value of GEK TERNA’s portfolio of concessions as well as the production of significant, stable and predictable cash flows on a long-term basis, allowing it to be best exploited in the context of the Group’s strategy. The result of the competition demonstrates once again the technical and financial capacity of GEK TERNA Group and confirms its great experience and effectiveness in the claim of major projects, through serious and competitive offers that ensure both the interests of the company’s shareholders and particularly satisfactory conditions for the Greek State. It is recalled that the GEK TERNA Group is the largest investor in concessions and PPP projects, managing more than 1,600 km of major highways (with the addition of Egnatia Road and Attica Road) and emblematic projects corresponding to billions of euros investments, such as the new International Airport of Heraklion Crete, the Integrated Tourism Complex in Greece, the Hersonissos – Neapolis section of the North Road Axis of Crete (BOAK), the Integrated Waste Management in the Regions of Epirus and Peloponnese, etc.