Announcement- Dividend distribution FY2019

Athens, July 7, 2020 - Hellenic Telecommunications Organization S.A. ("OTE S.A." or the "Company") announces that the Company's Ordinary General Meeting of Shareholders of June 24^th, 2020, approved the distribution of dividend amounting to €0.550000 gross per share. The final dividend amount that will be paid out stands at €0.555409 gross per share, increased by the dividend corresponding to 4,578,951 own shares that will be held by the Company on July 9 2020 (ex-dividend date). The dividend is subject to a 5% withholding tax, in accordance with the applicable tax law provisions (art. 24 of Law 4646/2019) with the exception or differentiation of such withholding for shareholders falling under special provisions. Therefore, the net amount of dividend which will be paid to Shareholders will be €0.52763855 per share.

Beneficiaries of the said dividend are the Shareholders registered in the Dematerialized Securities System (of the company "HELLENIC EXCHANGES S.A. HOLDING, CLEARING, SETTLEMENT & REGISTRY (HELEX)" on Friday July 10^th, 2020 (Record Date). Payment of the dividend will commence on Wednesday, July 15^th 2020.

The payment of the dividend will be conducted by PIRAEUS BANK as follows:

1. For those Shareholders who have authorized their operators to receive dividends, the collection will take place through the Dematerialized Securities System "DSS" operators and according to the distribution process defined in articles 13 par. 5 and 39 of the Regulation of Operation of DSS.

For shareholders who, for any reason, are unable to collect the dividend through their Operators as per the above, dividends will be payable through the branch network of PIRAEUS BANK, as of July 21^st 2020.

2. For those Shareholders that do not wish to collect the dividends through their DSS operators, payment can be made to their International Bank Account Number (IBAN) declared by the Shareholder, in accordance with article 13 of the Regulation of Operation of DSS and the decision 6 of the BoD of ATHEXCSD. This is only applicable to Shareholders who have declared an IBAN to PIRAEUS BANK.

3. In any other case, through the branch network of PIRAEUS BANK as of July 15^th 2020.

In order to receive their dividends through the PIRAEUS Bank's branches, Shareholders need to present their identification card along with the printout of the Code Number of Investor's Lot Number (Code Number in DSS). Payment to a third person is possible only if the person collecting presents a letter of proxy with the beneficiary Shareholder's signature ratified by a competent authority, including both the collector's as well as the beneficiary Shareholder's  full details (full name, father's name, Identity or Passport number & Tax Registration Number).

For any further Information, the Shareholders may contact the Investors Relations Department, tel.: +30 210-6117364, 210-6118190, and e-mail: [email protected], [email protected], [email protected].    

Any dividends that will not be collected within 5 years will be written off in favor of the Hellenic State.

This announcement is issued pursuant to the Athens Exchange Regulation (par. 4.1.3.4).

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