February, 2019

LNG terminal N.Greece

Located in the crossroads of the European energy corridors

Supply Sources and Supply Chain

IGB

IGB

LNG SUPPLY

• Multiple supply options

• LNG Alexandroupolis

• Greek NGTS (DESFA)

• IGB

• Bulgarian NGTS (Bulgatransgaz)

• IBS, IBR

• Romanian NGTS (Transgaz)

• Ukrainian NGTS (Ukrantransgaz)

• Trans Balkan interconnection points

• Hungarian NGTS (FGSZ)

• Reverse flows at RO-HU and RS-HU

• MER (Fyrom)

• New Interconnector GR-Fyrom

Project Status Update and Next Steps

Licensing in place

FEED study completed

EPC tenders progressing well

Exemption Application in place (in line with Article 36 of Directive 73/2009 - 3rd Energy Package -)

First Phase of Market Test successfully completed on 31 December 2018

20 companies submitted relevant EoI for a total regas capacity reservation of up to 12.2 billion cubic meters/annum

GasLog, one of the largest LNG carrier owners and operators, listed in the NYSE, has acquired 20% of Gastrade

DEPA and the Bulgarian State, through Bulgartransgaz, to become shareholders in Gastrade and reserve capacity at the Terminal

3. The two sections of the natural gas pipeline transmission system, i.e.:• The subsea section of total length 24 km• The onshore section of total length 4 km and the M/R station

connecting the offshore terminal to the Greek National Gas Grid (NNGS)

2. The permanent offshore structures, including:• The Mooring system• The Flex Risers and the Pipeline End Manifold (PLEM),

transmitting gas from the floating unit to the subsea pipelines

Financing structure comprises Equity, Debt and Grants

The project is a PCI (Project of Common Interest, E.C. 1391/2013) and therefore eligible for grantsfor

studies under CEF (Connecting Europe Facility)

The project is included in the major projects list of the 2014-2020 National Strategic Reference

Framework (ESPA) projects which allows for state aid from National and EU funds

Project financing (non-recourse) with IFIs and commercial banks to entail long tenor and competitive

interest rate• Export financing schemes available from equipment suppliers

Project Investment and Financing

Total Investment: € 382 mil

Base Financing Structure

Subsidy applied through Greek Public Investment Programme and (ERDF)

Debt secured by major Greek bank on a non-recourse basis

Equity shareholders

Project Milestone Plan

Exemption Application 2Q2018

EPCI Tender launched 3Q2018

Market Test Launched 4Q2018

NSRF Grant Application submitted 1Q2019

FID mid 2019

FSRU delivery from yard 1H 2021

Commercial Start 2021