Preliminary Results for the year ended 31st December 2016 Announcement dated 1st March 2017 is attached.

0003/00018958/en Indicative Results HELLENIC BANK PUBLIC COMPANY LTD Preliminary Results for the year ended 31st December 2016 Announcement dated 1st March 2017 is attached. HB Attachments: 1. Preliminary Results for the year ended 31st December 2016 2. Preliminary Results 3. Press Release 4. Presentation to Investors 5. Publication to daily newspaper Regulated Publication Date: 01/03/2017

Group Preliminary Financial Results for the year ended 31 December 2016 28 February 2017 BUILDING A STRONGER BANK, BY MAKING FURTHER PROGRESS IN OUR STRATEGIC PRIORITIES FY2016 FINANCIAL PERFORMANCE SUMMARY Profit before provisions of 103,2 million, compared to 104,3 million in FY2015 Derecognition of deferred tax asset of 51,2 million and increased provisions resulted in a loss after tax from continuing operations of 62,7 million, compared to a profit of 8,2 million for FY2015 Loss attributable to the Bank s shareholders of 63,5 million, compared to a profit of 12,1 million for FY2015 1 STRONG AND LIQUID BALANCE SHEET Common Equity Tier 1 (CET 1) of 13,81% and total capital adequacy ratio of 17,22% Capital ratios significantly above minimum regulatory requirements Ample liquidity reflecting a solid deposit franchise; Low ratio of net loans to deposits of 47,9% enables business expansion EXECUTING THE FIX AND BUILD STRATEGY Non-performing exposures 2 (NPEs) reduced for a fifth consecutive quarter to 2.340 million, their lowest level post December 2014 NPEs to gross loans ratio reduced to 56,6% NPEs provision coverage improved at 51,7%, while taking into account tangible collateral, overall NPEs coverage increased to 111,9% High loan restructuring activity, with 700,6 million of restructurings 3 during FY2016 High lending momentum, with 353,7 million of new lending approved during FY2016 Increased net interest margin of 2,2%, compared to 2,0% for FY2015 Hellenic Bank Public Company Ltd ( Hellenic Bank ) profile Headquartered in Nicosia (Cyprus), Hellenic Bank is the third largest financial institution in Cyprus and offers a wide range of banking and financial services, including financing, investment, insurance services, as well as custodian and factoring services. Its network includes 52 branches in Cyprus as well as representative offices in South Africa, Ukraine and Russia. At 31 December 2016, Hellenic Bank had total assets and shareholders equity of 7,0 billion and 563,5 million, respectively. 1 FY2015 profit attributable to the Bank s shareholders included a one-off amount of 4,8 million relating to the discontinued operations. 2 Including the contractual interest on impaired loans not accrued of 164,0 million, the NPEs amounted to 2.504 million. For more details please refer to section 1.2.2. Adjusted NPE ratio at 58,2%. 3 As per European Bank Authority (EBA) definition - client basis. Group Preliminary Financial Results for year ended 31 December 2016 1

GROUP GENERAL MANAGER STATEMENT Commenting on the Group s financial results, Mr. Phivos Stasopoulos, Group General Manager, Corporate and Insurance Division, stated: We have made further progress executing our strategic priorities during the last quarter of 2016. We reduced NPEs for a fifth consecutive quarter to their lowest level post December 2014. We completed about 701 million of loan restructurings, as part of NPEs resolution, during 2016 and the loan restructuring momentum remains strong. Earlier this year, we reached an agreement with APS Holding a.s., subject to completion and regulatory approvals, to create the first debt servicing and real estate asset management platform in the Cypriot market to tackle problematic loans in a more efficient and effective way. At the same time, we are fully aware that there is a lot more work to be done to achieve significant reduction in the level of NPEs, and, cognizant of the challenges ahead, we continue to explore all available options in an effort to decisively address problematic loans, using a toolset of sustainable solutions such as debt to asset swaps, balance reductions, maturity extensions, grace periods and instalment reductions. During the fourth quarter, in light of the regulatory dialogue, we proceeded with certain changes in the Bank s provisioning methodology, resulting in an increase in the level of provisions for impairments and an improvement in the provisioning coverage of NPEs to 52%. The increased provisions, coupled with the derecognition of deferred tax asset of 51 million, resulted in the Group reporting a loss after tax of 63 million for the year. Despite this loss, the Group s capital position remains strong. The Group s CET1 ratio totaled 13,8% at the end of 2016 and remains comfortably above the minimum regulatory requirements. A very low loans to deposits ratio enables our lending expansion and as a result, about 354 million advances were approved during 2016, supporting creditworthy households and businesses. Group Preliminary Financial Results for year ended 31 December 2016 2

PERFORMANCE HIGHLIGHTS Income Statement highlights ( million) FY2016 FY2015 YoY 4Q2016 3Q2016 QoQ 2Q2016 1Q2016 Profit from ordinary operations before impairment losses and provisions to cover credit risk Total impairment losses and provisions to cover credit risk 103,2 104,3-1% 24,9 19,6 +27% 36,0 22,7 (115,2) (100,8) +14% (51,1) (15,4) +233% (27,2) (21,6) Taxation (50,6) 4,6-1.191% (41,4) (0,4) +11.689% (8,5) (0,4) (Loss)/profit for the year/period from continuing operations Profit for the year/period from discontinued operations after tax (62,7) 8,2-867% (67,6) 3,9-1.854% 0,4 0,7 0,0 4,8-100% 0,0 0,0 0,0% 0,0 0,0 (Loss)/profit for the year/period (62,7) 13,0-582% (67,6) 3,9-1.854% 0,4 0,7 (Loss)/profit attributable to the shareholders of the parent company Key performance Indicators (KPIs) 4 (63,5) 12,1-626% (67,9) 3,8-1.906% 0,4 0,3 31.12.2016 31.12.2015 30.09.2016 4Q2016 3Q2016 QoQ Net Interest Margin (%) 2,2% 2,0% +14 bps 2,1% +1 bps 2,2% 2,2% +4 bps Cost to income ratio (%) 58,3% 59,3% -98 bps 57,9% +42 bps 59,6% 64,5% -487 bps Cost of risk (%) 3,0% 2,3% +65 bps 2,1% +84 bps 5,4% 1,4% +394 bps Return on equity (%) -10,6% 2,0% -1.252 bps 0,9% -1.149 bps -45,3% 2,4% -4.769 bps Return on average assets (%) (Loss)/Earnings per share (cent ) -0,9% 0,2% -104 bps 0,1% -96 bps -3,9% 0,2% -409 bps (32,0) 6,4-600% 2,3-1.521% n/a n/a n/a Financial Position highlights ( million) 31.12.2016 31.12.2015 30.09.2016 Gross loans 4.136 4.396-6% 4.194-1% Loans (net of provisions for impairment) 2.926 3.093-5% 2.998-2% NPEs 2.340 2.602-10% 2.395-2% Investment assets 3.797 4.010-5% 3.701 +3% Total assets 7.038 7.397-5% 7.000 +1% Deposits 6.111 6.139 0% 5.993 +2% Shareholders Funds 563 640-12% 636-11% Risk Weighted Assets (RWAs) 3.748 3.958-5% 3.913-4% Key Performance Indicators (KPIs) 4 31.12.2016 31.12.2015 30.09.2016 CET 1 Ratio (%) 13,81% 14,75% -94 bps 14,37% -56 bps Capital Adequacy Ratio (%) 17,22% 18,13% -91 bps 17,66% -44 bps NPEs to gross loans (%) 56,6% 59,2% -263 bps 57,1% -53 bps NPEs provision coverage (%) 51,7% 50,1% +164 bps 49,9% +177 bps Net loans to deposits ratio (%) 47,9% 50,4% -250 bps 50,0% -214 bps Tangible book value per share ( ) 2,71 3,11-13% 3,07-12% 4 For definitions of KPIs refer to Appendix 2. Group Preliminary Financial Results for year ended 31 December 2016 3

1. ANALYSIS OF THE FINANCIAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2016 1.1 Income Statement Analysis Net interest income for FY2016 was 147,5 million, up by 1% compared to FY2015. The lower deposit rates in 2016 compared to 2015 caused a substantial decrease in the interest expense, with a positive impact on net interest income. Reduction in interest income on a YoY basis was mainly due to lower lending rates and due to the decreased carrying amount of the impaired 5 loan portfolio. Net interest income in 4Q2016 was up by 2% compared to 3Q2016. The increase was mainly driven by the increased loan restructuring activity including debt to asset swap arrangements. The Group s net interest margin for FY2016 amounted to 2,2% (FY2015: 2,0%). Total non-interest income for FY2016 amounted to 100,2 million, recording a decrease of 10% compared to FY2015. Net fee and commission income for FY2016 was 52,0 million (down by 11% compared to FY2015), with the decrease mainly reflecting lower card interchange fees and reduced commission income in the International Business Division due to the Bank s efforts to reposition its strategy on the said business. Net gain on disposal and revaluation of foreign currencies and financial instruments was 27,4 million for FY2016, down by 16% compared to 32,6 million for FY2015. This amount included a gain of 14,0 million from the disposal of the shares in Visa Europe Limited in 2016, while in 2015 included a gain of 16,7 million from the disposal of Cyprus Government bonds. On a quarterly basis total non-interest income increased by 30% (4Q2016: 24,8 million, 3Q2016: 19,1 million) mainly due to increased net fee and commission income and other income due to seasonality. Total expenses for FY2016 amounted to 144,5 million, reduced by 5% compared to the 152,1 million of FY2015, due to lower administrative and other expenses. Total expenses for 4Q2016 amounted to 36,7 million, 3% higher than 3Q2016. Staff costs for FY2016 accounted for 56,8% of the Group s total expenses, recording an increase of 2% compared to FY2015, mainly due to the increase in the number of employees from 1.555 to 1.646 as at 31 December 2016. Most of the additional recruitments were made in the Arrears Management Unit, Compliance Unit, Corporate Development Unit and Retail Division. Staff costs for 4Q2016 amounted to 20,8 million (3Q2016: 20,5 million) showing 1% increase compared to 3Q2016, due to the increase in the number of employees. Total administrative and other expenses for FY2016 amounted to 56,4 million, down by 16% compared to the 67,3 million of FY2015. In FY2016 administrative and other expenses included a charge of 1,0 million regarding the cost of early retirement (3 employees) compared to FY2015 charge of 3,1 million (36 employees). Excluding the aforementioned one off charges from each year, the decrease is revised at 14% (down by 8,8 million) and was primarily due to lower cost of advisory services and lower charge for provisions for pending litigations or complaints which were partly offset by the penalty 6 of 1 million imposed by the Central Bank of Cyprus (CBC), charged in FY2016. The administrative and other expenses for 4Q2016 amounted to 14,2 million, showing an increase of 6% (up by 0,7 million) compared to the 13,5 million of 3Q2016. The net increase was due to the combination of higher cost of advisory services, of lower charge for provisions for pending litigations or complaints and of the cost of early retirement included in 4Q2016. The cost to income ratio for FY2016 was 58,3%, compared to the 59,3% for FY2015. For 4Q2016, the cost to income ratio was 59,6% compared to 64,5% in 3Q2016. Total impairment losses and provisions to cover credit risk amounted to 115,2 million for FY2016 up by 14% compared to FY2015. The charge for impairment losses and provisions for 4Q2016 amounted to 51,1 5 As defined in IAS39. 6 CBC financial penalty relating to controls omissions and weaknesses in the implementation of due diligence measures and customer identification procedures identified in 2014 and related to preceding years. The penalty does not relate to any identification of incidents of suppression of proceeds from any illegal activities. The Bank has made significant progress in rectifying these issues, following an independent review and subsequent restructuring of part of its business initiated since 2014 and overseen by the Board of Directors. At the same time, the Bank is continuing repositioning its International Banking Division strategy reflecting the changing regulatory environment with specific focus on anti-money laundering issues. Group Preliminary Financial Results for year ended 31 December 2016 4

million, up by 233% compared to the respective charge in 3Q2016. As announced on 30 December 2016 7, the Bank proceeded with the adoption of more conservative assumptions in relation to its provisioning methodology for calculating impairment losses, and part of the regulatory engagement with European Central Bank (ECB) in relation to the 2016 Supervisory Review and Evaluation Process (SREP). The cost of risk for FY2016 was 3,0% compared to 2,3% for FY2015. Loss before taxation for FY2016 amounted to 12,0 million compared to a profit of 3,5 million reported for FY2015. The reported loss of 2016 was primarily due to increased impairment losses and provisions to cover credit risk. This was also reflected in 4Q2016, with a loss before taxation of 26,2 million compared to a profit before taxation of 4,2 million recorded in 3Q2016. During 2016, a deferred tax asset of 51,2 million was derecognised and charged in the Income Statement ( 42,7 million charged in 4Q2016 and 8,5 million charged in 2Q2016). The derecognition of the deferred tax asset resulted from tax losses for which it is no longer probable that the related tax benefit will realise, as the majority of these losses will expire by 31 December 2018. The carrying amount of the deferred tax asset is based on judgements of the Management of the Bank on its ability to generate future taxable profits. These judgements are based on available information including historical data, improved macroeconomic estimates, the reduction in deposit rates, the stabilisation of the non-performing loans, the bank's impairment process and the results of operations. Loss attributable to the Bank s shareholders for FY2016 amounted to 63,5 million. Profit attributable to the Bank s shareholders for FY2015 amounted to 12,1 million and included a profit of 4,8 million from discontinued operations that related to the disposal of a building owned by the Group in Moscow, following the sale of its Russian banking subsidiary in 2014. On a quarterly basis, the increased impairment losses to cover credit risk in combination with the said derecognised deferred tax asset charge led to a loss for 4Q2016 of 67,9 million compared to a profit of 3,8 million in 3Q2016 which is in line with the Bank s trading update announcement 7 regarding the financial results of 4Q2016. 1.2 Statement of Financial Position Analysis As at 31 December 2016, the Group s total assets amounted to 7,0 billion, down by 5% compared to 31 December 2015 (30 September 2016: 7,0 billion). This was reflected with the decreased placements with other banks following the early repayment of the TLTRO 8 borrowing on 29 June 2016. 1.2.1 Deposits and Loans Customer deposits amounted to 6,1 billion as at 31 December 2016 (30 September 2016: 6,0 billion, 31 December 2015: 6,1 billion). They comprised of 4,6 billion deposits in Euro and 1,5 billion deposits in foreign currencies, mostly US Dollars. Trends in customer deposits reflect the Bank s strategy to maintain a low cost of deposits taking into account its existing strong liquidity position. The Bank s deposits market share 9 as at 31 December 2016 was 12,6% (30 September 2016: 12,7%, 31 December 2015: 13,5%). The net loans to deposits ratio stood at 47,9% as at 31 December 2016 (30 September 2016: 50,0%, 31 December 2015: 50,4%). Total new lending for FY2016 reached 353,7 million (30 September 2016: 240,5 million, 31 December 2015 376,7 million). The Bank continued providing lending to creditworthy businesses and households while examining other growth opportunities. Gross loans 10 as at 31 December 2016 amounted to 4.136 million (30 September 2016: 4.194 million, 31 December 2015: 4.396 million) recording a decrease of 6% from 31 December 2015. A key driver in the reduction of gross loans is the increased restructuring activity including the 7 See announcement dated 30 December 2016 (Trading update for the financial results for the fourth quarter of 2016) posted on the Group s website www.hellenicbank.com (Investor Relations). 8 The Bank participated in the targeted longer-term refinancing operations (TLTRO) program in December 2014 by borrowing 236 million at an interest rate of 0,15% for 4 years. 9 Source: CBC and Hellenic Bank. 10 As of 1 st January 2016, gross values of impaired loans are booked on a non interest accrual basis, whereas in previous years gross impaired loans included contractual interest accrued. The amount of contractual interest on impaired loans that was not accrued for FY2016 amounted to 164,0 million. Group Preliminary Financial Results for year ended 31 December 2016 5

debt to asset swap arrangements, loan repayments and customer efforts to deleverage. During FY2016 exposures of 160,5 million were written off (FY2015: 123,9 million). The Bank s loan market share 11 as at 31 December 2016 was 7,4% (30 September 2016: 7,7%, 31 December 2015: 7,0%). 1.2.2 Loan Portfolio Quality Committed efforts to resolve problematic loans continued. The level of NPEs 10 has been reduced for a fifth consecutive quarter to 2.340 million at 31 December 2016, down by 2% compared to 30 September 2016 and by 10% compared to 31 December 2015. Terminated loans included in NPEs amounted to 1.471 million as at 31 December 2016 (30 September 2016: 1.444 million, December 2015: 1.477 million). Gross loans with forbearance measures as at 31 December 2016 amounted to 1.253 million (30 September 2016: 1.262 million, 31 December 2015: 1.317 million). During FY2016 the Bank continued focusing on the restructuring of NPEs, using a toolset of sustainable solutions, such as debt to asset swaps, balance/instalment reductions, extensions of maturity, grace periods etc. An amount of 700,6 million 12 relating to total customers exposures, was restructured during FY2016, while an amount of 160,5 million was written off as part of the whole curing process. In 2015 123,9 million exposures were written off mostly due to legal changes. The stock of properties held for sale, which are mostly from customers debt settlement, amounted to 117,6 million as at 31 December 2016 (30 September 2016: 73,4 million, 31 December 2015: 71,2 million). In January 2017, the Bank reached an agreement with APS Holding a.s. (APS), which is subject to completion and regulatory approvals, to create the first debt servicing and real estate asset management platform in the Cypriot market to tackle problematic loans in a more efficient and effective way. The NPEs to gross loans ratio as at 31 December 2016 was reduced to 56,6% (30 September 2016: 57,1%, 31 December 2015: 59,2%). Including the contractual interest on impaired loans not accrued of 164,0 million, the ratio of NPEs to gross loans was 58,2% (30 September 2016: 58,4%). Accumulated impairment losses 13, amounted to 1.210 million as at 31 December 2016 (30 September 2016: 1.196 million, 31 December 2015: 1.303 million) and represented 29,3% of the total gross loans (30 September 2016: 28,5%, 31 December 2015: 29,6%). The NPEs provision 13 coverage stood at 51,7% as at 31 December 2016 (30 September 2016: 49,9%, 31 December 2015: 50,1%), with the overall coverage taking into account tangible collaterals 14 totalling 111,9%. The increase in the coverage ratio reflects the effect of the elevated provisions in 4Q2016. Taking into account the contractual interest on impaired loans not accrued of 164,0 million, the NPEs provision coverage is adjusted to 54,9% as at 31 December 2016. 1.2.3 Investment Assets The total value of investment assets amounted to 3,8 billion (30 September 2016: 3,7 billion, 31 December 2015: 4,0 billion) and represented 54,0% of the total assets of the Group at 31 December 2016 (30 September 2016: 52,9%, 31 December 2015: 54,2%). Investment assets are comprised of cash and balances with Central Banks, placements with other banks, investments in bonds, investments in shares and collective investment units. The Group s cash and placements with other banks and Central Banks amounted to 2,6 billion as at 31 December 2016 (30 September 2016: 2,7 billion, 31 December 2015: 2,9 billion), and included a placement of 2,0 billion with ECB (30 September 2016: 1,9 billion, 31 December 2015: 1,9 billion). Most foreign currency placements were with P1 rated banks 15. 11 Source: CBC and Hellenic Bank. 12 As per EBA definition - client basis. 13 Individual and collective impairment losses. 14 Based on open market values (capped at client exposure). 15 Prime-1 short term rating by Moody s. Group Preliminary Financial Results for year ended 31 December 2016 6

The Group s investments in bonds amounted to 1,1 billion as at 31 December 2016 (30 September 2016: 1,0 billion, 31 December 2015: 1,0 billion), which represented 16,3% of total assets (30 September 2016: 14,3%, 31 December 2015: 14,1%). They comprised mainly of Cyprus Government Bonds and supranational organisations debt securities. The 43% of debt securities are Aaa rated 16. The Cyprus Government Bonds 17 held by the Group at 31 December 2016 amounted to 644 million (30 September 2016: 550 million, 31 December 2015: 394 million) of which 432 million will mature within 5 and 10 years, 92 million within 1 and 5 years and the remaining 120 million within a period of less than 1 year. 1.2.4 Capital Base and Adequacy The Capital Adequacy Ratios of the Group and the Bank under Pillar I, which are above the minimum regulatory requirements as at 31 December 2016, were as follows: Capital Adequacy Ratios Group (transitional basis) Group (fully loaded basis) Bank (transitional basis) 31.12.2016 31.12.2015 30.09.2016 31.12.2016 31.12.2016 Capital Adequacy Ratio (%) 17,22% 18,13% -91bps 17,66% -44 bps 16,99% 17,18% Tier 1 Ratio (%) 16,99% 17,68% -69 bps 17,42% -43 bps 16,90% 16,94% Common Equity Tier 1 (CET 1) Ratio (%) Common Equity Tier 1 capital ( million) Risk Weighted Assets (RWAs) ( million) 13,81% 14,75% -94 bps 14,37% -56 bps 13,44% 13,77% 518 584-11% 562-8% 504 517 3.748 3.958-5% 3.913-4% 3.748 3.754 The decrease of 94 basis points in CET 1 ratio compared to 31 December 2015, was mainly the result of the below: i) overall decrease in CET1, mainly as a result of the below: -derecognition of deferred tax assets arising from tax losses, net effect of 75 basis points decrease. -current year losses mainly due to provisions for impairment losses and provisions to cover credit risk as well as gradual elimination of transitional provisions, net effect of 89 basis points decrease. ii) overall decrease in RWAs, mainly as a result of the increase in impairment losses and provisions to cover credit risk as well as decrease in risk weighted investment assets (effect of 141 basis points increase), despite the increased risk weighting classification of certain exposures compared to 31 December 2015, due to adoption of the CBC s recommendation (5 April 2016) and respective EBA s recommendation, regarding the risk weight to be assigned to high risk exposures (effect of 67 basis points decrease). As at 31 December 2016 the Leverage Ratio 18 for the Group was 8,75% (Bank: 8,74%) compared to 9,42% (Bank: 9,40%) as at 30 September 2016 and 9,05% (Bank: 9,04%) as at 31 December 2015. The Leverage Ratio on a fully loaded basis for the Group was formed at 8,71% (Bank: 8,70%) compared to 9,17% (Bank: 9,15%) as at 30 September 2016 and 8,60% (Bank: 8,59%) as at 31 December 2015. Supervisory Review and Evaluation Process 2015 As from 20 November 2015 the Bank is required to maintain, on a consolidated basis, a CET 1 capital ratio of 11,75%, as such ratio is defined in Regulation (EU) No 575/2013 of the European Parliament and of the Council, including a fully loaded capital conservation buffer (CCB) of 2,5%. The ECB decision was based on the SREP conducted on the information available with reference date 31 December 2014. In February 2017, the House of Representatives in Cyprus passed into law, an amendment in the Business of Credit Institutions Law which introduces a transitional period for the application of CCB requirement with retrospective application from 1 st January 2016 of 0,625% with full implementation from 1 st January 2019 of 2,5%. 16 Moody s instrument ratings or equivalents - based on the Regulation (EU) 575/2013 (CRR) and the Directive 2013/36/EU (CRD IV) for the RWAs calculation (as per Section 4, Article 138 of the regulation). 17 Republic of Cyprus is currently being rated as B1 by Moody s, BB- by Fitch, BB by S&P and B by DBRS. 18 According to the Regulation (EU) No 2015/62 of the European Parliament and Council dated 10 th of October 2014. Group Preliminary Financial Results for year ended 31 December 2016 7

If the provisions of the above law amendment are applied the minimum CET 1 ratio is reduced to 9,875% for FY 2016. Supervisory Review and Evaluation Process 2016 In December 2016, following ECB s final decision in establishing prudential requirements, which was based on the SREP conducted pursuant to Article 4(1)(f) of Regulation (EU) No 1024/2013 with reference date 31 December 2015, and also having regard to other relevant information received thereafter, the Bank is required to maintain for 2017, on a consolidated basis, a phase-in Capital Adequacy Ratio of 12,75%, which includes: the minimum Pillar I own funds requirements of 8% in accordance with Article 92(1) of Regulation (EU) No 575/2013 (of which up to 1,5% can be met with Additional Tier 1 Capital and up to 2% with Tier 2 Capital), an own funds Pillar II requirement of 3,5% required to be held in excess of the minimum own funds requirement (to be made up entirely of CET 1 Capital), and a phased in combined buffer requirement which for 2017 includes the capital conservation buffer (CCB) of 1,25% following the above law amendment, which have to be made up with CET 1 capital. Additionally, applicable for Hellenic Bank, the combined buffer requirement includes: an OSII buffer of 1% fully loaded and is phased in over a period of four years with application starting from 1 st of January 2019, a Counter-Cyclical Capital Buffer (CCyB) for which the CBC has set the level at 0% for 2016 and for the first and second quarter of 2017 (the Institution specific CCyB for 2016 was 0%), Systemic Risk Buffer which has not been set to date. Taking into account the phase-in legislation for CCB, the Group s minimum CET1 and Tier 1 ratios effective as from 1 st January 2017 are set at 9,25% and 10,75% respectively. In addition to the above, the ECB has set on a consolidated basis, a Pillar II capital guidance to be made up entirely of CET 1 capital. The new minimum capital requirements are effective from 1 st January 2017. Following the recent law amendment, the ECB minimum capital requirements applicable from 1 st January 2017, based on current status, are as shown below: Minimum regulatory capital requirements (Phase-in) 19 31.12.2016 2017 Capital Adequacy Ratio 17,22% 12,75% Tier 1 Ratio 16,99% 10,75% CET 1 Ratio 13,81% 9,25% 19 Excluding Pillar II capital guidance. Group Preliminary Financial Results for year ended 31 December 2016 8

2. STRATEGIC TARGETS AND OUTLOOK The Bank s strategy focuses on two aspects: Fix and Build. The Fix aspect predominantly relates to the reduction of the high level of NPEs. As part of its Fix strategy, the Bank is continuing repositioning its International Banking Division strategy reflecting the changing regulatory environment. The Build aspect of the strategy relates to the growth of the loan portfolio and the strengthening of customer relationships, be those of deposit or lending nature. It also relates to advancements in technology and enhancement of the customer service, as well as simplification of procedures and processes. Further, in order to meet the challenges of the competitive environment and streamline/empower the Executive Committee, the Bank revised its Group organizational structure. The Bank, advancing towards decisive actions to tackle its loan portfolio quality, has reached an agreement with APS Holding a.s for the management of real estate assets and servicing of the entire portfolio of NPEs of the Bank. For this purpose a new company will be established in which the Bank will hold 49% of the shares, whereas APS Recovery Cyprus Ltd will own the majority of the shares (51%). The Bank will retain the ownership of the portfolio of NPEs and the real estate assets which will be serviced by the new company upon establishment. By creating the first debt servicing and real estate asset management platform in the Cypriot market, the Bank will be able to effectively deal with its NPEs in an accelerated way, by developing, expanding and improving the recoveries of NPEs through leveraging on the knowhow and expertise of APS. Furthermore, it will allow the Bank to better allocate its resources on managing and growing the performing loan book by using its excess liquidity to the benefit of the market, as well as on continuing its digital transformation journey, the optimisation of corporate governance and the adaptation to the expanding compliance framework. The completion of the transaction is subject to applicable approvals and clearances from the relevant regulatory and any other authorities. The economy has been exhibiting significant positive growth since the beginning of 2015 which accelerated in 2016 with real GDP growing by an annual 2,8%. The better than expected outcome in the economy, along with the gradual restructuring of the banking sector, have created and maintained an environment of improved confidence which is reflected in the upgrades of the country s and the largest domestic banks credit rating by international rating agencies. The rise in deposits for the banking system as a whole, combined with deleveraging of the market, results in a declining loan-to-deposit ratio, suggesting positive effects on growth of the economy. From a sectoral point of view, growth in 2016 was driven by the tourism sector, which performed well throughout 2016, along with a continued strong growth in the business and professional services sectors. At the same time, the high percentage of NPEs remains the biggest challenge for the banking sector and the economy at large and the successful strategic reduction in their levels will reduce the pressure on the banks profitability, resulting in increased confidence towards the Cypriot banking sector and economy. It is encouraging that the first positive results from the application of all relevant actions are becoming visible. The economic recovery is expected to accelerate the pace of tackling NPEs. As part of implementing its strategic targets, the Group is focused on supporting the economy s recovery and contributing towards sustainable economic growth. The Bank maintains sufficient liquidity to exploit opportunities while maintaining its focus on organic growth. In order to undertake this, a key priority is to address the high level of NPEs, which continue to affect the Group s interest income and to pressure profitability through elevated provisions. At the same time the Bank recognizes that the real estate market continues to be subdued. The Bank has managed to navigate successfully through the banking crisis. It has maintained throughout the crisis its reputation for stability and trust and is concentrating on strengthening and better focusing of its market positioning. Through its focus on its Fix and Build initiatives, the Group has all the ingredients to continue the implementation of its strategy. At the same time the operating environment remains challenging and the Bank will remain vigilant of developments to turn them into opportunities both in Cyprus and internationally. Group Preliminary Financial Results for year ended 31 December 2016 9

3. APPENDIX 1 GROUP INCOME STATEMENT ( million) FY2016 FY2015 YoY 4Q2016 3Q2016 QoQ 2Q2016 1Q2016 Interest income 185,2 205,8-10% 46,4 45,3 +3% 46,6 46,9 Interest expense (37,7) (60,4) -38% (9,7) (9,3) +4% (9,6) (9,2) Net interest income 147,5 145,4 +1% 36,8 36,0 +2% 37,0 37,7 Fee and commission income 56,6 63,3-11% 16,0 13,0 +24% 13,4 14,2 Fee and commission expense (4,6) (4,9) -6% (1,2) (1,1) +10% (1,1) (1,2) Net fee and commission income 52,0 58,4-11% 14,8 11,9 +25% 12,3 13,0 Net gains on disposal and revaluation of foreign currencies and financial instruments 27,4 32,6-16% 2,8 3,9-30% 17,0 3,7 Other income 20,8 20,0 +4% 7,2 3,3 +121% 5,0 5,3 Total net income 247,7 256,4-3% 61,6 55,1 +12% 71,3 59,7 Staff costs (82,0) (80,0) +2% (20,8) (20,5) +1% (20,1) (20,6) Depreciation and amortisation (6,1) (4,8) +27% (1,7) (1,5) +12% (1,4) (1,4) Administrative and other expenses (56,4) (67,3) -16% (14,2) (13,5) +6% (13,7) (15,0) Total expenses (144,5) (152,1) -5% (36,7) (35,5) +3% (35,3) (37,0) Profit from ordinary operations before impairment losses and provisions to cover credit risk 103,2 104,3-1% 24,9 19,6 +27% 36,0 22,7 Impairment losses and provisions to cover credit risk (115,2) (100,8) +14% (51,1) (15,4) +233% (27,2) (21,6) (Loss)/profit before taxation (12,0) 3,5-441% (26,2) 4,2-724% 8,9 1,1 Taxation (50,6) 4,6-1.191% (41,4) (0,4) +11.689% (8,5) (0,4) (Loss)/profit for the year/period from continuing operations (62,7) 8,2-867% (67,6) 3,9-1.854% 0,4 0,7 Profit for the year/period from discontinued operations after tax - 4,8-100% - - - - - (Loss)/profit for the year/period (62,7) 13,0-582% (67,6) 3,9-1.854% 0,4 0,7 Non-controlling interest (0,8) (0,9) -11% (0,3) (0,1) +253% (0,0) (0,4) (Loss)/profit attributable to the shareholders of the parent company (63,5) 12,1-626% (67,9) 3,8-1.906% 0,4 0,3 Note: Numbers may not add up due to rounding Group Preliminary Financial Results for year ended 31 December 2016 10

3. APPENDIX 1 GROUP STATEMENT OF FINANCIAL POSITION ( million) 31.12.2016 31.12.2015 Cash and balances with Central Banks 2.083 2.029 +3% Placements with other banks 549 910-40% Loans and advances to customers 2.926 3.093-5% Debt securities 1.149 1.043 +10% Equity securities and collective investment units 16 15 +6% Property, plant and equipment 100 99 +1% Intangible assets 27 23 +17% Tax receivable 0 0 +93% Deferred tax asset 8 58-85% Other assets 179 128 +40% Total assets 7.038 7.397-5% Deposits by banks 101 77 +31% Amounts due to Central Banks 0 236-100% Customer deposits and other customer accounts 6.111 6.139-0% Tax payable 5 5 +2% Deferred tax liability 2 1 +34% Other liabilities 112 114-2% Loan capital 140 181-23% Share capital 99 99 0% Reserves 464 540-14% Shareholder s equity 563 640-12% Non-controlling interest 3 3 +6% Total liabilities and equity 7.038 7.397-5% Contingent liabilities and commitments 855 790 +8% Note: Numbers may not add up due to rounding Notes to the preliminary Group results for the year ended 31 December 2016: The preliminary Group results for the year ended 31 December 2016 have been prepared in accordance with International Financial Reporting Standards (IFRSs) as adopted by the European Union. In addition, the financial statements have been prepared in accordance with the requirements of the Cyprus Companies Law, Cap.113, the Cyprus Stock Exchange Laws and Regulations. The preliminary Group results for the year ended 31 December 2016 have not been audited by the external auditors of the Group. The preliminary Group results and the presentation of the financial results for the year ended 31 December 2016 have been posted on the Group s website www.hellenicbank.com (Investor Relations). Group Preliminary Financial Results for year ended 31 December 2016 11

4. APPENDIX 2 Glossary and Definitions NPEs ratio: gross non-performing exposures (EBA definition) divided by gross loans NPEs provision coverage ratio: accumulated impairment losses (individual and collective) divided by gross non-performing exposures CET 1 ratio: Common Equity Tier 1 capital divided by Risk Weighted Assets Leverage ratio: capital measure divided by the total on- and off- balance sheet items (Tier 1/total exposure measure) Net Interest Margin ratio (NIM): net interest income divided by interest bearing assets, annualized Cost to income ratio: total expenses over total net income Cost of risk ratio: impairment losses on the value of loans and advances divided by gross loans, annualized (Loss)/earnings per share: (loss)/profit divided by the number of shares issued Return on Equity: profit attributable to shareholders of the parent company (annualized) divided by average equity attributable to shareholders of the parent company Net tangible book value per share: equity attributable to shareholders of the parent company less intangible assets divided by the number of issued shares YoY: year on year QoQ: quarter on quarter FY: financial year NPEs: non performing exposures ECB: European Central Bank CBC: Central Bank of Cyprus EBA: European Banking Authority SREP: Supervisory Review and Evaluation Process RWAs: risk weighted assets AT1: additional tier 1 capital CCB: capital conservation buffer O-SII: Other Systemically important institution Group Preliminary Financial Results for year ended 31 December 2016 12

Hellenic Bank: Building strong foundations, by focusing on our strategic priorities Non-performing exposures (NPEs) reduced for a fifth consecutive quarter NPEs ratio reduced to 56,6%, compared to 59,2 % a year earlier Profit before provisions and derecognition of differed tax asset of 103,2 million Derecognition of deferred tax asset of 51,2 million and increased provisions resulted in a loss after tax from continuing operations of 62,7 million 701 million of restructurings during 2016 354 million of new lending approved in 2016 Common Equity Tier 1 (CET 1) ratio at 13,81%, resulting in a total capital adequacy ratio of 17,22%, well above the minimum regulatory requirement The aim of Hellenic Bank for 2016 was to shield its balance sheet and lay solid foundations for the future. Increased provisions for 2016 to cover credit risk were exactly towards that direction. The one-off derecognition of deferred tax asset of 51,2 million in combination with the increased provisions resulted in a loss after tax from continuing operations of 62,7 million. During 2016, the Bank continued supporting the recovery of Cyprus economy and approved 354 million of new lending. During the same period, the Bank also completed further restructurings of 701 million. Overall, the Bank is on the right track, and this is proven by the strong capital adequacy ratio of 17,22%. NPEs Reduction of NPEs remains the number one priority of the Bank. The level of NPEs has been reduced for a fifth consecutive quarter to 2.340 million at 31 December 2016, down by 2% compared to 30 September 2016 and by 10% compared to 31 December 2015. The NPEs to gross loans ratio as at 31 December 2016 was reduced to 56,6% (30 September 2016: 57,1%, 31 December 2015: 59,2%). 1

Strong Capital Position The Group maintains robust capital adequacy ratios, above the minimum required by the relevant Regulatory Authorities. As at 31 st December 2016, the Common Equity Tier 1 (CET 1) ratio stood at 13,81%, well above the minimum CET 1 ratio of 9,25% set by the regulatory authorities for 2017. At the end of year 2016, the Group s Capital Adequacy Ratio was 17,22% and the Tier 1 ratio was 16,99%. Strong Liquidity In 2016 the Group maintained its strong liquidity position. The net loan to deposits ratio stood at 47,9% as at 31 st December 2016. On 31 st December 2016, total deposits amounted to 6,1 billion while total gross loans reached 4,1 billion. Expenses Total expenses for FY2016 amounted to 144,5 million, reduced by 5% compared to the 152,1 million of FY2015, due to lower administrative and other expenses. The cost to income ratio for FY2016 was 58,3%, compared to the 59,3% for FY2015. Moving Forward The Management remains focused on its strategic priorities: The reduction of the high level of NPEs, the growth of the loan portfolio, technological and digital transformation and enhancement of the customer service, as well as simplification of procedures and processes. Regarding Non Performing Exposures, Hellenic Bank created a partnership with APS Holding, an international specialized firm, aiming at establishing the first platform for debt servicing management. This pioneer move will lead to potentially faster reduction of NPEs. At the same time, it will free up valuable resources thus enabling the Bank to focus on growth and strengthening its position in the market. In implementing its strategic targets, the Group is focused on supporting the recovery of the economy and contributing towards sustainable economic growth. The Bank maintains sufficient liquidity to exploit opportunities in financing big upcoming projects and maintain the organic growth. 1 st March 2017 2

Statement by Phivos Stasopoulos Group General Manager, Corporate and Insurance Division, We have made further progress executing our strategic priorities during the last quarter of 2016. We reduced NPEs for a fifth consecutive quarter to their lowest level post December 2014. We completed about 701 million of loan restructurings, as part of NPEs resolution, during 2016 and the loan restructuring momentum remains strong. Earlier this year, we reached an agreement with APS Holding a.s., subject to completion and regulatory approvals, to create the first debt servicing and real estate asset management platform in the Cypriot market to tackle problematic loans in a more efficient and effective way. At the same time, we are fully aware that there is a lot more work to be done to achieve significant reduction in the level of NPEs, and, cognizant of the challenges ahead, we continue to explore all available options in an effort to decisively address problematic loans, using a toolset of sustainable solutions such as debt to asset swaps, balance reductions, maturity extensions, grace periods and instalment reductions. During the fourth quarter, in light of the regulatory dialogue, we proceeded with certain changes in the Bank s provisioning methodology, resulting in an increase in the level of provisions for impairments and an improvement in the provisioning coverage of NPEs to 52%. The increased provisions, coupled with the derecognition of deferred tax asset of 51 million, resulted in the Group reporting a loss after tax of 63 million for the year. Despite this loss, the Group s capital position remains strong. The Group s CET1 ratio totaled 13,8% at the end of 2016 and remains comfortably above the minimum regulatory requirements. A very low loans to deposits ratio enables our lending expansion and as a result, about 354 million advances were approved during 2016, supporting creditworthy households and businesses. 3

Group preliminary* financial results for the year ended 31 December 2016 28 February 2017 * The preliminary financial results have not been audited by the Group s external auditors

Highlights Preliminary FY16 financial results Profitability Profit before provisions of 103,2 m in FY16 compared to 104,3 m in FY15. DTA derecognition of 51,2 m and increased provisions for impairments led to loss after tax of 62,7 m Increased NIM 1) of 2,2% for FY16, compared to 2,0% for FY15 Cost to income at 58,3% for FY16, compared to 59,3% for FY15 Liquidity and funding structure Ample liquidity reflecting a solid deposit franchise Low ratio of loans to deposits of 48% enables business expansion Deposit funded, with deposits accounting for 87% of total assets Asset quality NPEs 2) down by 2% q-o-q to 2.340 m, with the NPEs ratio 2) reduced to 56,6% NPEs provision coverage 2) improved to 52% 3), with overall NPEs coverage 4) at 112% High restructuring activity, with 701 m of restructurings 5) during FY16 (up by 31% compared to FY15) Capital strength Capital ratios significantly above minimum capital requirements Strong capital position; CET1 ratio of 13,8% and total capital adequacy ratio of 17,2% Leverage ratio of 8,8% Systemic bank in a growing economy 2 nd largest commercial bank with deposit and loans market shares of 13% and 7%, respectively High lending momentum; 354 m of loans approved during FY16 Cypriot economy expanded by 2,8% during 2016 1) Annualised YTD; for a list of definitions and abbreviations, please refer to Glossary to slides 45-46 2) As per EBA definition. For representation of NPEs and other relevant ratios on an interest accrual basis please refer to slide 39 3) Individual and collective impairment losses 4) Taking into account tangible collateral, based on open market values (capped at client exposure) 5) Client basis, EBA definition 2

Key indicators Performance across key indicators Profit before provisions ( m) Profit/(Loss) from continuing operations ( m) NIM Cost to income ratio 104,3 103,2 Adjusting for DTA derecognition 2,2% 8,2 2,1% 59,3% 58,3% -11,5 2,0% FY15 FY16 FY15-62,7 FY16 FY15 9M16 FY16 FY15 FY16 New lending 2) ( m; ytd) and NPEs 1) ( m) and NPEs ratio NPEs provision coverage Loans market share CET1 ratio and Tier 1 ratio 59,2% NPEs NPEs ratio 57,1% 56,6% 50% 50% 52% New lending Loans market share 7,0% 7,4% CET1 ratio Tier 1 ratio 17,7% 16,9% 17,4% 17,0% 2.602 2.395 2.340 377 354 14,8% 13,9% 14,4% 13,8% Dec-15 Sep-16 Dec-16 Dec-15 Sep-16 Dec-16 FY15 FY16 Dec-15 Jun-16 Sep-16 Dec-16 1) For representation of NPEs and other relevant ratios on an interest accrual basis please refer to slide 39 2) Approved facilities 3

Evolution of key indicators- Pillars of strategy Key indicators Pillars of strategy Dec-15 Sep-16 Dec-16 NIM (annualized ytd) 2,0% 2,1% 2,2% Cost to income ratio (ytd) 59,3% 57,9% 58,3% Cost of risk (annualized ytd) 2,3% 2,1% 3,0% Earnings per share (cent) 6,4 2,3 (32,0) Loans to deposits ratio 50,4% 50,0% 47,9% NPEs % gross loans 59,2% 57,1% 56,6% NPEs provision coverage 50,1% 49,9% 51,7% CET1 ratio 14,8% 14,4% 13,8% Tier 1 ratio 17,7% 17,4% 17,0% Rationale Fix strategy Build strategy Reduction of NPEs using a toolset of sustainable solutions, such as debt to asset swaps, balance reductions, maturity extensions, grace periods and instalment reductions Agreement with APS Holding, subject to completion and regulatory approvals, to create the first debt servicing and real estate asset management platform in the market to tackle problem loans in a more efficient and effective way Growth of the loan portfolio, strengthening customer relationships Advancements in technology Enhancement of customer service Simplification of procedures and processes Leverage ratio 9,1% 9,4% 8,8% 4

Income Statement highlights [ m] FY16 FY15 y-on-y 4Q16 3Q16 q-on-q FY16 Highlights Net interest income 147,5 145,4 1% 36,8 36,0 2% Net fee and commission income 52,0 58,4 (11%) 14,8 11,9 25% Other income 48,2 52,6 (8%) 10,0 7,2 38% Total net income 1 247,7 256,4 (3%) 61,6 55,1 12% Staff costs (82,0) (80,0) 2% (20,8) (20,5) 1% Administrative and other expenses (62,5) (72,1) (13%) (15,9) (15,0) 6% Total expenses 2 (144,5) (152,1) (5%) (36,7) (35,5) 3% Pre-provision income 3 103,2 104,3 (1%) 24,9 19,6 27% Impairment losses and provisions 4 (115,2) (100,8) 14% (51,1) (15,4) 233% (Loss)/profit before taxation (12,0) 3,5-441% (26,2) 4,2 (724%) Taxation (50,6) 4,6 (1.191%) (41,4) (0,4) 11.689% (Loss)/profit from continuing Operations 5 (62,7) 8,2 (867%) (67,6) 3,9 (1.854%) (Loss)/profit after tax (62,7) 13,0 (582%) (67,6) 3,9 (1.854%) Cost to income ratio (%) 58,3 59,3 (1p.p.) 59,6 64,5 (4,9p.p.) Return on Equity (%) (10,6) 2,0 (12,6p.p) (45,3) 2,4 (47,7p.p.) 1 2 3 4 5 Total net income of 248 m, down by 3% compared to FY15 mainly due to lower fee and commission income relating to lower interchange fees and reduced fees in the international business division Total expenses of 144 m, down by 5% compared to FY15, mainly due to lower administrative expenses reflecting lower costs for advisory services and a lower charge for provisions for pending litigation Pre-provision income of 103 m, down by 1% compared to FY15 Impairment losses and provisions were up by 233% in 4Q16 due to the adoption of more conservative assumptions in relation to the Bank s provisioning methodology as part of the engagement with ECB in relation to the 2016 SREP Loss from continuing operations of 63 m; FY16 profit negatively affected by DTA derecognition 1) of 51,2 m ( 42,7 m recorded in 4Q16 and 8,5 m charged in 2Q16); Adjusting for DTA derecognition, loss from continuing operations of 11,5 m for FY16 1) Arising from tax losses for which it is no longer probable that the related tax benefit will realise, as the majority of these losses expires by 31 December 2018. The carrying amount of DTA is based on judgements of the Management of the Bank on its ability to generate future taxable profits 5 Note: Numbers may not add up due to rounding

NII driven by lower funding costs and reflects a highly liquid, underleveraged balance sheet and current ECB monetary policy Evolution of NII and NIM Balances and average cost by product 1) [ m] 2,0% 2,0% 2,0% FY15: 145,4 m 2,1% 2,1% 2,1% FY16: 147,5 m 2,2% 0,01% 1.642 1.674 1.665 1.747 0,10% 0,64% 1,10% 2.197 2.182 2.121 2.051 27,9 34,9 37,1 37,7 37,0 36,0 36,8 552 566 580 614 157 179 201 213 Current Savings Notice Fixed 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 NII (Q basis; m) NIM (ytd) Mar-16 Jun-16 Sep-16 Dec-16 x,xx% Dec-16 average deposit rates (weighted) 2) Average contractual interest rates 5,5% 5,4% 5,4% 5,3% 5,2% 5,2% 4,9% 5,0% 4,9% 4,9% 4,8% 4,7% 0,6% 0,5% 0,4% 0,4% 0,4% 0,4% Sep-15 Dec-15 Mar-16 Jun-16 Sep-16 Dec-16 Gross Loans Gross Deposits Net Client spread 1) EUR deposits. Differences from published accounts arise from inclusion of subsidiaries and credit institutions with customer subtypes and exclusion of accrued interest and customer general ledger lines and any reclassification adjustments 2) Portfolio average (new and existing business) of EUR deposits (excludes foreign currencies) Net interest income (NII) of 147 m, up by 1% compared to FY15 due to lower funding costs NIM of 2,2%, compared to 2,0% for FY15; Current level of NIM reflects a highly liquid balance sheet (with net loans accounting for 42% of total assets compared to an average of 68% for Cypriot banks and 60% for EU banks as per EBA Risk Dashboard Q3 2016) and an ECB placement of 2,0 b (about 28% of total assets) at a negative rate of 40bps c.38% of EUR deposits comprised of current accounts which bear an interest rate of almost zero percent 6