Athens, October 27, 2021-Hellenic Telecommunications Organization S.A. ("OTE" or the "Company") announces that:

Following the disposal of OTE's 54% stake in Telekom Romania Communications S.A., as already announced on September 30, 2021, the Company's Board of Directors approved the allocation of an additional amount of €60.7mn for share buybacks under the current Share Buyback Program as approved by the Extraordinary Shareholders General Meeting of February 20, 2020.

The aforementioned amount of €60.7mn is expected to be allocated by the Company for share buybacks as of October 29, 2021 until February 20, 2022 at a price range between €1 (minimum) and €30 (maximum) per share.

It is noted that the amount of €60.7mn was not included in the initial target amount of €167.0mn which was expected to be allocated by the Company for share buybacks in current year, and in particular during the period as of March 5, 2021 until January 28, 2022 as already announced on March 4, 2021.

Morgan Stanley Europe SE will continue to lead-manage, at its own discretion, the Share Buy Back Program, for the additional amount as well.

Own shares will be purchased exclusively for cancellation following a Shareholders' General Meeting resolution and under the terms of the legal and regulatory framework in force.

It is noted that currently the Company holds 6,211,689 own shares.

The announcement is issued in accordance with (EU) Regulation No 596/2014 of the European Parliament and of the Council dated 16/4/2014, the (EU) Commission Delegated Regulation 2016/1052 dated 8/3/2016 and the Athens Exchange Rulebook (paragraph 4.1.3.14).

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