CHAIRMAN 

• Petros Sabatacakis, Independent, non-executive member of the Board

MEMBERS

• Eftichios Vassilakis, Independent non- executive member of the Board
• Vassilios Fourlis, Independent non- executive member of the Board

SUBSTITUTE MEMBERS

• Spyridon Theodoropoulos, Independent non-executive member of the Board
• Panagiotis Marinopoulos, Independent, non-executive member of the Board

DUTIES - COMPETENCES

The Audit Committee has as a primary task the provision of assistance to the Board of Directors for the accomplishment of its supervisory duties by:

• Reviewing the financial statements, before their approval from the Board of Directors.
• Ensuring the effectiveness and efficiency of the Internal Control and Risk Management Systems and policies implemented by the Group
• Ensuring the compliance of the Company according to the legal and regulatory framework and the Code of Conduct.
• Supervising over the internal audit operations and the assessment of the internal and external audit functions to assure the co-ordination of the audit work, the quality, the independence, and the performance of the auditors.
• Supervising the financial reporting procedures implemented by the Group
• Supervising and monitoring the implementation of the confidential reporting procedure which enables employees to report any infringement of the Company values or the Com [any Code of Conduct via the hotline which is in operation.

STRUCTURE

The Audit Committee consists entirely of independent directors who have been appointed as members of the Committee by the General Meeting of Shareholders dated 15.6.2011.

The members of the Audit Committee (regular and substitute) are all elected by the General Meeting of Shareholders, to serve for three years (along the term in office of the Board).

The Chairman's duties are assigned to one of the members.

All members of the Committee need to have competence and experience on financial reporting, accounting and auditing issues.

The duties of the Secretary of the Committee are performed by the Company Secretary.

MEETINGS

The meetings of the Audit Committee are distinguished into:

• Regular, which are realized at least four times a year with the issue of the quarter, half-year and full year financial statements and prior to their release.
• Unscheduled, which are realized when deemed necessary.