Athens Stock Exchange

Socrates LazaridisATHEX GROUP CEO

Financial Instruments

Athens Exchange Group Page 2

Cash Market Structure & ProductsRe

gulated Market

Alternative Market

Exchange Traded Funds

Shares

Warrants

Bonds Corporate / Government

213

3 3

4 / 23

Shares Bonds Corporate

ENA Step ENA Plus

14 1

Source : ATHEX GROUP October 14th 2016

Market Capitalization Breakdown

Cash Market Liquidity

Athens Exchange Group Page 3

ATHEX Market CredentialsRe

gulated Market

Alternative Market

Exchange Traded Funds

Shares

Warrants

Bonds Corporate / Government

213

3 3

4 / 23

Shares Bonds Corporate

ENA Step ENA Plus

14 1

Source : ATHEX GROUP October 14th 2016

Fully Compliantwith the European Union regulatory environment

Settlement efficiency rate 100% (ECSDA Statistical Exercise)

3rd best performing market in the world in failed trades (OMGEOReport)

Transactions settlement through Eurosystem (Target 2)

ATHEXClear is EMIR compliant for cash and derivatives marketclearing

With a highest standard Risk Management System for centralcounterparties

ATHEXCSD’s Depository Risk Rating (by specialized auditor ThomasMurray) remains at A+ since 2008

ATHEX GROUP certified according to the international standardISO22301:2012 of Business Continuity System by Lloyd’s RegisterAssurance (LRQA)

ATHEX GROUP is recognized by the SEC as a Designated Offshore Securities Market (DOSM) from July 2016

Athens Exchange Group Page 4

Capital Raised Activity in 2016Re

gulated Market

Alternative Market

Exchange Traded Funds

Shares

Warrants

Bonds Corporate / Government

213

3 3

4 / 23

Shares Bonds Corporate

ENA Step ENA Plus

14 1

Source : ATHEX GROUP October 14th 2016

House MarketCorporate Bond Issue: €40mil, 04/10/2016Underwriters: National Bank of Greece, Euroxx Securities,Pantelakis Securities

MLS MultimediaCorporate Bond Issue: €4mil, 19/07/2016Consultant: Beta Securities

Intercontinental InternationalListing on Main Market: €14.5mil, 02/08/2016Consultant: NBG Securities

Corporate ActionsCapital Raised: €57.5mil

Total Capital Raised€116mil

Athens Exchange Group

Significant Returns C.A.G.R 2011 ‐ 2016

Page 5

Source : Reuters, ATHEX GROUP October 14th 2016

Athens Exchange Group

International investors increase their holdings

Page 6

Source : ATHEX GROUP September 30th 2016

Investor Participation in Cash Market

Market Capitalization €34.4bil

International Inv. Holdings€20.5bil

(as % of total market capitalization)

Top 10 Holdings 

by Country of OriginFor 2016

Athens Exchange Group

International investors highly active trading activity

Page 7

Source : ATHEX GROUP September 30th 2016

Investor Participation in Cash Market

Total Market Turnover €11.8bil

International Inv. Turnover€6.9bil

(as % of total trading activity)

Top 10 Positive Flows 

by Country of Originfor 2016

Athens Exchange Group

Strong capital flows 

Page 8

Source : ATHEX GROUP September 30th 2016

(€mil, Buys minus Sells)Capital Flows from International Investors

Total Positive Flows fromInternational Investors of€4.8bil in 2013 – 2016

€16.7bil the new capital fromInternational Investorsduring Greek Banksrecapitalizations on 2014 &2015

Athens Exchange Group

Significant Contributionin Capital Raising

Page 9

Source : ATHEX Group, FESE Members September 30th 2016

Capital Raised Capital Raised 2012 ‐ 2016

Athens Exchange Group

Comparison with European Peers

Page 10

Source : FESE Members, September 30th 2016

Market Capitalization to GDP

Turnover Velocity(total trade value vs market capitalization)

Athens Exchange Group

Optimistic Messagesfrom Listed Company Results

Source : ATHEX Group, € mil., #: excluding banks

Net Profits before Tax Net Profits after TaxEBITDA

EBITDA Price to Book ValueRevenues

Athens Stock Exchange

Socrates LazaridisATHEX GROUP CEO

Financial Instruments