With respect to the merger by absorption of “TANOCERIAN COMMERCIAL AND INVESTMENT S.A.” (hereinafter the “Absorbed Company”) by “JUMBO SOCIETE ANONYME” (hereinafter the “Absorbing Company”), the Absorbed Company has been audited by the tax authorities up to financial year 2009 pursuant to laws 3697/08 and 3888/10. The following financial years and up to the transformation balance sheet (01/01/2016-07/03/2016) have not been audited by the tax authorities.

The Absorbed Company was audited by an independent auditor for the ascertainment of its tax obligations concerning its unaudited financial years pursuant to article 4§4 of Decision 27 of the Board of Directors of the Athens Exchange. Pursuant to the report of the above independent auditor no material tax obligations exist with respect to the non audited tax period ranging from 01.01.2010 to 07.03.2016 which have not been met and with respect to which relevant provisions have not been made in the transformation balance sheet dated 07.03.2016.

The above report was concluded on 22.04.2016 without any qualifications for material contingent tax obligations.

The Absorbing Company shall inform the investors through a separate announcement on the exact date of listing of the 36.354.088 new shares resulting from the merger.