0.6x Net Debt/ EBITDA

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2 Strong investments for the future: CAPEX (ex-spectrum) up 2.% in 215 to 57mn Strong Balance Sheet and cash flow secure the servicing of debt.6x Net Debt/ EBITDA 1

3 Financial Performance ( mn) Revenue trends yoy % -.% -.4% -7.1% -6.4% 4, 4,54,918 5.% 5.9% 6.%,9 4.4% 1,516 1,456 1,422 1,4 Resilient top-line performance Resilient top-line performance supported by further improvement in Greek fixed and mobile operations, despite the country s tough economic conditions. FY 212 FY 21 FY 214 FY 215 Revenues Pro Forma EBITDA* Pro forma EBITDA Margin Healthy EBITDA performance Cost discipline driving robust Group EBITDA margin 2% Mobile Albania % Mobile Romania 14% Fixed Romania 11% Other Greece 5% Fixed Greece Revenue Breakdown 215** Greece: ~75% 2% Mobile Albania 6% Mobile Romania 9% Fixed Romania 5% Other Greece Pro Forma EBITDA* Breakdown 215** 46% Fixed Greece Greece: 8% 2% Mobile Greece 28% Mobile Greece * Excluding voluntary retirement programs & restructuring charges ** Gross figures (excluding eliminations) 14

4 Free Cash Flow *Evolution ( mn) 1,188 1,22 1, , Strong Free Cash Flow generation Adj. Free Cash Flow at 57mn FY 212 FY 21 FY 214 FY 215 Adj. Net Operating Cash Flow Capex ex-spectrum Adj. Free Cash Flow* (ex-spectrum) Existing cash balances and cash flow secure the servicing of debt Intensive Investments for future growth Net Debt at.6x EBITDA Continue to invest intensively, to provide the best technology and customer service Debt & Cash Evolution ( mn) 1.9x 4,51 2,879 1.x 2,956 1,496.8x 2,69 1,125 Net Debt/EBITDA.6x 86-1,172-1,461 2,189-1,514-1,29 FY 212 FY 21 FY 214 FY 215 Gross Debt Cash & Other Fnancial Assets Underlying Net Debt *Cash Flow includes interest received but excludes Voluntary Exit Programs, Restructuring and/or Spectrum payments 15

5 7% increase of total VDSL subscribers in 215, reaching 162k in Greece NGN coverage: VDSL at 4% 4G at 81% 226k customers adopted FMC offers in Romania IP Transformation Deployment of VoIP infrastructure in Greece Operational KPIs 7% of Greek Broadband market net additions in the last quarter of the year Single Radio Access Network (SRAN) Mobile network transformation Technical KPIs OTE TV Subscribers at 446k posting 26% annual growth Investment & network expansion in Romania ICT: OTE won the Coca-Cola HBC tender for data center development for 28 countries G and 4G network expansion in Albania 16

6 OTE'S PERFORMANCE IN THE Market capitalization at 4bn Outstanding shares: 49,15,89 OTE s shares are traded in the: OTE s bonds are traded in the: Athens Stock Exchange London Stock Exchange (GDRs) Following OTE s delisting from the New York Stock Exchange (September 2), its American Depository Shares (ADRs) trade in the OTC (Over the Counter) market with the ticker symbol HLTOY through the Level I ADRs program Luxemburg Stock Exchange OTE issues bonds under the Global Medium Term Note (GMTN) Program The most recently updated GMTN documentation can be viewed by clicking on the link below: "Dividend per share increase" Dividend ( /share).8. FY 214 FY 215* * Pending approval from AGM on June

7 SHARE PRICE OTE - Share Price ( ) Jan 15 Feb 15 Mar 15 Apr 15 May 15 Jun 15 Jul 15 Aug 15 Sep 15 Oct 15 Nov 15 Dec 15 Jan 16 Feb 16 Mar 16 OTE OTE - Share Price vs ASE Index Performance Jan 15 Feb 15 Mar 15 Apr 15 May 15 Jun 15 Jul 15 Aug 15 Sep 15 Oct 15 Nov 15 Dec 15 Jan 16 Feb 16 Mar 16 OTE ASE Index 18

8 OTE RAISED 5 MILLION THROUGH A NEW FOUR-YEAR BOND ISSUE IN THE INTERNATIONAL MARKETS OTE PLC BONDS OVERVIEW 216 OTE Bond: Yield to Maturity Maturity: May 216 Outstanding Amount: 89mn 2.8 Coupon: 4.625% ISIN: XS OTE Bond: Yield to Maturity Maturity: Dec 219 Outstanding Amount: 5mn 4.94 Coupon: 4.75% ISIN: XS OTE Bond: Yield to Maturity 22 OTE Bond: Yield to Maturity Maturity: Feb 218 Coupon: 7.875%(paid semi-annually) Maturity: July 22 Coupon:.5% Outstanding Amount: 65mn ISIN: XS Outstanding Amount: 7mn ISIN: XS

9 OTE S RATING EVOLUTION OTE - Standard & Poor's Rating Evolution A- BBB+ BBB BBB Dec 8 BBB- BB+ BB BB- B CCC+ CCC Caa Ca BBB- May BB Mar 11 BB- May 11 B Oct 11 B- Jun 12 B+ Feb 1 BB- Dec 1 (Investment Grade level) BB Sep 14 BB- Feb 14 B Jul 15 B+ Sep 15 Dec 8 Jun 9 Dec 9 Jun Dec Jun 11 Dec 11 Jun 12 Dec 12 Jun 1 Dec 1 Jun 14 Dec 14 Jun 15 Sep 15 OTE - Moody's Rating Evolution Baa1 Baa2 Baa Ba1 Ba2 Ba B1 B2 B Caa1 Caa2 Caa Ca Baa Mar 11 Ba1 May 11 B1 Jun 11 B2 B2 Oct 11 B Dec 1 May 12 Caa1 Jun 12 (Investment Grade level) Ba Aug 14 B May 15 Caa2 Jul 15 Dec 8 Jun 9 Dec 9 Jun Dec Jun 11 Dec 11 Jun 12 Dec 12 Jun 1 Dec 1 Jun 14 Dec 14 Jul 15 2

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