Global Reach Regional Focus Corporate Profile Summer 2018 AXIA at a - - PowerPoint PPT Presentation

▶

Mar 22, 2023 188 likes •409 views

Global Reach Regional Focus Corporate Profile Summer 2018 AXIA at a Glance 2 Who What Key Global Local We Are Differentiates AXIA Values Reach Access AXIA is a leading, independent, AXIAs team of people offers Excellence and

SLIDE 1

Global Reach Regional Focus

Corporate Profile Summer 2018

SLIDE 2

AXIA at a Glance

SLIDE 3

Excellence and accountability, providing unbiased and objective advice, client focus and building long-term relationships Acting with integrity, ethically and transparently; thus strengthening long term relationships with market participants While our primary focus is on the Peripheral European region, our reach and access are truly global We are headquartered in Nicosia, Cyprus with offices in Athens, Lisbon, New York, London and Milan Our on-the-ground presence in New York and London, coupled with the international experience of our team, has enabled us to develop close ties with leading global financial sponsors (Private Equity Funds, Hedge Funds, Sovereign Wealth Funds) and professional advisors (other investment banks, law firms, accounting firms) Through our long-standing presence we have developed unparalleled relationships with entrepreneurs, management teams, policy-makers and other constituents of the business community We strongly believe that establishing close and long-standing relationships with our clients significantly increases the value we can add to their investment endeavors

Who We Are What Differentiates AXIA Key Values Global Reach Local Access

AXIA is a leading, independent, privately-owned Investment Banking firm founded in 2008, with the primary aim of bridging global capital with regional

pportunities by bringing people,

capital and opportunities together to achieve our clients’ objectives AXIA provides its services in more than 20 countries The Company’s mission to create value in every case is reflected in

ur Greek name “AXIA”,

emphasizing the principles of: “Value”, “Merit” and “Worth” AXIA’s team of people offers a comprehensive spectrum of financial advisory services, based

n their institutional background,

deal and sector expertise, judgment, creativity and intellect Our unrivalled insight comes as a result of working in a dynamic and diverse mix of industries including Financial Institutions, Industrials, Shipping, Consumer, Renewable Energy, Real Estate and Hospitality We have deployed one of the largest on the ground investment banking teams, dedicated to covering Greece, Cyprus, Portugal and now Italy, with special sector expertise in Shipping / Transportation, FIG, Real Estate and other

SLIDE 4

Office Locations

AXIA offices are strategically located around the globe to service international client needs

Athens, Greece Investment Banking Capital Markets Services Principal Strategies Administration New York, USA Investment Banking Capital Markets Services Lisbon, Portugal Investment Banking Capital Markets Services Nicosia, Cyprus Investment Banking Capital Markets Services Principal Strategies Administration London, UK Investment Banking Milan, Italy Investment Banking

SLIDE 5

Investment Banki king Se Services

Services Industries

Structured Finance & Equity Products Originate, structure and execute financing solutions utilizing equity and debt instruments. Main activities include IPOs, follow-ons, sell-downs for major shareholders, convertibles and private placements M&A Advice on strategic issues, Mergers and Acquisitions, Divestitures, Joint Ventures, spin-offs, LBOs and takeover defense tactics Restructurings Unwinding cross-shareholdings, debt reorganizations, re-capitalizations, spin-offs, divestitures and other corporate actions to improve the organizational structure of a group General Corporate Finance Advisory General advice on ongoing corporate, financial and strategic issues (corporate planning and expansion, competition analysis) Corporates Domestic and regional established corporates and SMEs have traditionally been at the forefront of our advisory activities, and have contributed to our strong track record in the consumer, real estate and energy sectors FIG We are very active in the Financial Institutions Group sector, with a dedicated on-the-ground team actively focused on catering to the needs of the largest domestic financial institutions for their Greek, Cypriot, Portuguese and international businesses Transportation A significant portion of our clients are shipping companies (both private and public), whose capital needs we aim to service through our vast network of capital sources Sovereign AXIA has established a strong history of successfully assisting and facilitating in critical sovereign mandates (Greece’s HRADF strategy, GGB allocation)

We devote time with our clients to understand their business objectives and individual needs,

encouraging creative solutions

Our clients include the world’s largest institutional investors and sovereign wealth funds, as well as

public and private companies and government-related entities

Our focus is to provide clients with quality, value-added, independent advice, tailored specifically to

their individual needs through our specialized team focus

SLIDE 6

Capital al Markets Se Servic ices

Note:

1. Not directly comparable, since AXIA is the only one among its peers purely focusing on institutionals
Our equity sales, trading and research teams provide services to both foreign

and local institutional investors with an active interest in the Greek, Cypriot, Turkish and Portuguese capital markets

We have invested heavily in the latest state-of-the-art systems and technologies
We constantly monitor the developments and news flow in the international

capital markets and adjust accordingly in a time-sensitive manner the execution strategy of our clients’ orders

AXIA is uniquely positioned as an institutionals-only broker/dealer; based on

trading volumes for 2016, the company ranked 9th among all firms trading securities on the Athens Stock Exchange(1)

Institutional Sales & Trading Solid client relationships with major global financial institutions trading Greek, Cypriot, Turkish equities and major European stock markets including Euronext, Borsa Italiana, Borse Frankfurt, Bolsa de Madrid Bond Intermediation Strong network of contacts with international money managers guaranteeing successful bond trading and sales efforts Equity Research Expert research in Greek, Portuguese, Cypriot and Global Shipping Markets assisting our sales & trading desk with sector & country expertise in connection with the firm’s continuous efforts to provide a full range of services to its customers

Services

SLIDE 7

Select Credentials

SLIDE 8

AXIA’s Role & Achievements in the Peripheral Eurozone recaps

AXIA played a key role in the recapitalization of the Greek and Cypriot banking sectors,

securing repeat business by advising Alpha Bank for three consecutive years and Eurobank and Hellenic Bank for two consecutive years

In the third round of the Greek banks’ recapitalization in November 2015, AXIA acted as

Joint-Bookrunner in the €2,039 million Share Capital Increase of Eurobank and as an Advisor to Alpha Bank’s €2,563 million Share Capital Increase

In the second round, in the spring of 2014, AXIA acted as Co-Bookrunner in the €2,864

million Share Capital Increase of Eurobank and as an Advisor to Alpha Bank’s €1,200 million Private Placement with qualified investors

In the first round, in the summer of 2013, AXIA acted as Co-Lead Manager in the €457

million Rights Issue of Alpha Bank and as a Financial Advisor to the €1,488 million Rights Issue of Piraeus Bank

In Cyprus, AXIA acted as a Selling Agent to the €358 million capital strengthening

program of Hellenic Bank in 2013 and as a Joint Placement Agent in the bank’s €204 million rights issue in 2015

AXIA mobilized a significant amount of capital from international institutional investors,

thus achieving the inflow of fresh capital into the Greek and Cypriot banking systems and the successful recapitalization of three Greek systemic banks and Hellenic Bank in Cyprus

AXIA provided guidance to investors on valuations of the banks
AXIA interacted extensively with regulatory authorities to ensure the participation of

international institutional investors in the recapitalizations

Investment Banking Financial In Institutions Group (FI FIG) Exp xperience

AXIA offers FIG investment banking services to both buysideand sellside clients, covering banks, insurance, asset management and

Fintech opportunities across the company’s European coverage area, namely Greece, Cyprus, Italy and Portugal. The firm offers both capital markets and advisory services

AXIA’s role has been instrumental in the successful recapitalization of the Greek and Cypriot banking sectors. AXIA has been

awarded the highest number of mandates by Greek and Cypriot bank issuers during 2013-2017, having attracted significant amounts of foreign institutional capital

Number of Mandates in the recapitalization process of the Greek and Cypriot Banking Sector 2013-2017 Advisor Number

f Mandates

AXIA 8 Deutsche Bank 8 HSBC 7 Citigroup 6 BNP Paribas 5 BofA Merrill Lynch 5 Goldman Sachs 5 Credit Suisse 5 JP Morgan 5 Mediobanca 5 Barclays 4 UBS 4 Morgan Stanley 2

SLIDE 9

Select Financial Institutions Group (FIG) Credentials

SLIDE 10

Select T ransportation Crede edentials

AXIA ha

has exte xtensi sive e rela latio tionship ips s wi with financia ial l spo ponsors

rs wi

with th a hi histo story ry of

comm

mmitti

itting capi pita tal l to

he shi hipp ppin ing and nd wi wider er transpo porta rtatio tion ind ndustr stry

AXIA ha

has vast st exp xper erie ienc nce in n comp

mple

letin ting transactio tions s in n the he transpo porta rtatio tion ind ndustr stry

AXIA ha

has be been en ins nstrum rumenta tal l in n attra ractin ting sig ignifi ificant t amou mounts ts of

f capi

pita tal from

m ins

nsti titu tutio tiona nal inv nves estors tors - across the he capi pita tal l struc tructu ture re - for

r a varie

iety ty of

f transp

sporta rtatio tion n bu busin inesses es inc nclu ludin ing aviatio tion and nd shi hippin ing

AXIA ha

has pr prov

ided ed inv nvalu luable le adv dvis isory

ry to
its

s clien ients ts on

n a varie

iety ty of

f transactio

tion types pes inc nclu ludin ing amon mong ot

thers

hers restru estructu turin rings, capi pita tal l rais isin ings and nd JV for

mati tion

AXIA’s Role & Achievements

SLIDE 11

AXIA has been instrumental in the recent efforts of key Greek and international companies to gain access to foreign institutional capital

Sele lect Corporat ates Crede edentials

AXIA’s Role & Achievements

AXIA is the leading institution in the Greek region in terms of

capital raising amounts and maintains an impressive track record

AXIA has served as the exclusive financial advisor in various

capital raising transactions for companies and funds based or

perating in Greece, facilitating the injection of liquidity in the

Greek market

AXIA provided valuable advisory to its clients on the structuring
f the relevant transactions, on the identification of the

appropriate investor and on the negotiations

AXIA provided guidance to investors on valuations of the

companies

AXIA acted as the first point of contact and confidential

sounding board on new proposals/issues between the parties

Following on from an impressive track record during the

economic crisis, AXIA is ideally positioned to continue supporting Greek and regional corporates in their upcoming ECM initiatives

We have repeat assignments with most of our clients, an

indication of our contribution in each case

SLIDE 12

AXIA’s Role & Achievements

AXIA is the first port of call for international institutional investors looking to deploy

significant amounts of capital in Greek assets

AXIA has extensive experience in advising institutional investors vying for the acquisition
f Greek assets – ranging from banks to large corporates’ securities and assets under

privatization

AXIA has an unparalleled ability to assist investors navigate the Greek investment

environment and ensure a smooth interface and negotiations with corporates, banks and public sector regulators and decision makers, thus ensuring successful completion of transactions

AXIA played an instrumental role in the successful outcome of the Greek Government

Bonds buyback in 2012, utilizing its access to some of the biggest institutional investors

n a global scale and managing to attract substantial international interest
In the context of this initiative, AXIA acted as financial advisor to a number of institutional

investors which represented a substantial portion of the total €61.5 billion of Designated Securities outstanding

AXIA has vast experience in orchestrating transactions with major institutional investors

Sele lect Fin inancia ial Sponsor Crede edentials

SLIDE 13

Executive Team

SLIDE 14

Anton

nios

s Achi hilleou eoudis Foun unding ng Partner ner

Ant Antoni

nios
s Ac

Achi hilleou eoudis is a Found unding Partner er, Group

up Ma

Managing Direc ector

r and

nd member er of the he Exec ecutive e Co Comm mmittee e of AX AXIA A with h over er 21 21 yea ears of exper perien ence e on n Wall Street and nd capi pital ma

markets. Prior
r to AX

AXIA, Ant Antoni

nios
s was a

Found unding Dir Direc ector of Ax Axia Ventur ures Ltd, d, in n New Yor

rk, an

n alter ernative inv nves estment nts and nd corporate fina nance e advis dvisor

ry firm,

m, servici cing glob

bal ins

nstitutions

ns, corpor
rate clien

ents and nd family offices

es. Prior
r to Ax

Axia Vent ntures Ltd, d, Ant Antoni

nios
s was a Vice

ce Pres esident ent of Inve nvestment nts at Grun untal & Co Co in n New York over erlook

oking

po portfolio

nves estmen ents for ins nstitut ution

ns and

nd family offices

es. Ant

Antoni

nios
s is a graduate of New

York Uni niversity, Ster ern Sch choo

ol of Bus

Busines ess, with h a BS BSc c in n Ac Accou counting and nd Fina nance

Dimitrios

s Atha

hanas asop

poul

ulos

Foun unding ng Partner ner

Dimi Dimitrios

s At

Atha hanasopoul

ulos
s is a Foun

undi ding Partner, Grou

p Ma Managing Direc ector and nd me memb mber er of the he Execu cutive Co Comm mmittee of AX AXIA. Prior

r to AX

AXIA, Dimi Dimitrios

s was a Ma

Managing Dir Direc ector of Ax Axia Ventur ures Ltd, d, an n alter ernative inv nves estment nts and nd corpor

rate fina

nance ce advi dvisor

bo bout utique e focus

cusing on

n global ins nstitut ution

corporate client ents and nd fami mily office

ces. Prior
r to

joining Ax Axia Vent ntures es Ltd, d, from

m 2001

2001-200 004, Dimi Dimitrios

s worked

ed for Fix As Asset et Ma Managemen ent,

ne of the world’s largest funds of funds with

AU AUM of $3. $3.5bn 5bn, condu ducting due due di diligen ence ce and nd ide deas gener eration

n regardi

ding the he und underlying fund

unds. He

He also

worked

d in n the he Private Wea ealth Ma Managemen ent di division

ns of Salom
mon
n Smith

mith Ba Barney ey and nd Mo Morgan Stanl nley ey in n New York. Dimi Dimitrios

s ho

holds ds a BBA BBA in n Fina nance ce and nd Inve nvestment nts from the he Zi Zick cklin n Schoo

ol of

Bus Busines ess, Ba Baruch h Co Colleg ege

Group Managin ing Di Direc ectors

Ge Geor

e Li Linats atsas as Found unding ng Partner ner

Geor

rge Lina

natsas is a Foun undi ding Partner er, Group p Ma Managing Di Direc ector

r and

nd me memb mber er of the he Exec ecutive e Commi mmittee e of AXIA. Prior

r to joining

AXIA, Geor

e was the he Gener eral Ma Manager, Head

f the

he Equi quities es di division

n as well as a Me

Member er

f the

he Board d of Di Direc ector

rs of Piraeus Sec

ecurities es. Prior

r to tha

hat, Geor eorge was one ne of the he foun undi ding pa partners of Artion

n Sec

ecur urities es in n Athens hens, from

whe here he he de depa parted in n 2001 2001 to join Sigma Sec ecurities

es. Geor
rge ha

has also

worked

d for Ergasias Sec ecur urities es, Sigma Sec ecurities es (1996 1996- 1999) 1999) and nd IAM M CARES S (Washington

n DC

DC, USA). SA). He ho holds ds a BSc in n Fina nance ce and nd Ma Market eting from

m the

he Uni niversity

f Ma

Maryland d at Colleg ege Park and nd an n MB MBA in n Int nter ernation

nal Fina

nance e from the he Ame merica can n Uni niversity

SLIDE 15

Our People

Alexandros Argyros Managing Director, Head of IBD Experience: Prior to AXIA, Alexandros spent one year with Filia Group, a private fund focusing on investments in the Environmental and Alternative Energy sectors in Greece. Prior to that, he spent seven years with Morgan Stanley, three years with the Global Industrials Group in New York and London and four years with the Greek coverage team in Athens. Alexandros has executed a significant number of M&A and Capital Markets transactions in the

region. Alexandros also

sat on the Board of Directors of NASDAQ- listed Nautilus Marine Acquisition Corp. Studies: Alexandros holds a BA in Economics from Amherst College (USA)

Investment Banking Division

Leandro Almeida Managing Director Experience: Prior to AXIA, Leandro led BNP Pariba’s Investment Banking franchise in Brazil, as a Managing Director, Head

f Corporate Finance. He

was member of the team that re-launched BNP’s business in the country in 2010, originating, executing and closing M&A and ECM transactions in several sectors, including FIG, Oil & Gas, Mining, Healthcare and Building

Materials. Prior to BNP,

during 2008, Leandro worked at Itaú Unibanco, Brazil’s largest private bank, as Business Development Director. Before this, he worked at Merrill Lynch for a year as a Vice President. Prior to his focus on the Brazilian market, Leandro spent 6 years in London holding senior positions in UBS and Deutsche Bank after his 3-year tenure in JP Morgan in New York Studies: Leandro holds a bachelor degree in Industrial Engineering from the University of São Paulo and an MBA from INSEAD Marco Figus Managing Director, Head of Italy Experience: Prior to AXIA, he worked at Nomura Int., Rome and Milan, for 8 years where he was Co- Chairman - Italy. At Nomura he was responsible for all Italian investment banking activities, ranging from equity transactions, corporate finance advisory, as well as fixed

income. Before that,

Marco was employed at Lehman Brothers Int., London, Rome and Milan, as Managing Director for almost 20 years where he was Head of ECM, Member of the European Operating, Investment Banking and Fixed Income Executive Committees and Chairman of European Financial Institutions. Previously, Marco worked at The Industrial Bank of Japan, The First National Bank of Chicago, as well as Bank of America Int. Studies: Marco holds a BSFS in International Economics, from Georgetown University as well as an MSc in International Economics from the London School of Economics Roberto Marantidis Director Experience: Prior to AXIA, Roberto worked for UBS as a Director in the Financial Institutions Group focusing on the

rigination and execution
f M&A, Equity Capital

Markets and Debt Capital Markets transactions for financial institutions in Greece, Ireland, Portugal and the UK. Prior to joining the UBS FIG team Roberto worked for three years in UBS’s Greek investment banking coverage team Studies: Roberto holds an MSc in Economic and Social Sciences from Bocconi University and a BSc in Government and Economics from the London School of Economics Christina Anagnostara Director Experience: Prior to AXIA, Christina provided advisory services to corporate clients involved in all aspects of the maritime industry. From 2008 to 2013, she served as Chief Financial Officer

f Seanergy Maritime

Holdings, a dry bulk shipping company listed

n NASDAQ. Since 2008,

Christina serves as member of Seanergy’s Board of Directors and Shipping Committee. Prior to joining Seanergy, Christina spent two years as CFO and member of the Board of Directors of Global Oceanic Carriers

Ltd. Before that, she

spent seven years as a senior management consultant of the Geneva- based EFG Group. Prior to EFG Group, she worked for Eurobank EFG and Ernst & Young Studies: Christina is a Certified Chartered Accountant and holds a BA in Economics from the American College of Greece Michael S. Pak Managing Director (Employee of ACM) Experience: Michael joined AXIA in 2017 as Managing Director leading the coverage of Institutional Clients and has over 15 years of investment research and capital markets experience. Before AXIA, Michael was leading the capital markets effort at JonesTrading, where he founded the maritime transportation practice in New York. Prior to JonesTrading, Michael was a SVP and Senior Analyst at

ClarksonsPlc. and Bank of

America Securities, where he led shipping, transportation and logistics

coverage. He was also a

team analyst for the #1- ranked Institutional Investor and Greenwich Associates polls covering Packaging and Paper sectors Studies: Michael is a member of the CFA Institute and NY Society of Security Analysts. He earned a BSc degree in Economics from STERN School of Business and an MBA from Cornell University

SLIDE 16

Our People

Investment Banking Division (Cont’d)

João Salgado Regra Associate Experience: João joined AXIA in 2016 as an Associate in the Investment Banking

Division. Prior to AXIA,

João spent two and a half years as an M&A Analyst in the Corporate Finance Division of Millennium bcp in Lisbon. Before that, he worked as an Analyst in the Banking and Insurance department at Everis, a Management Consulting firm in Sao Paulo Studies: João holds an MBA from INSPER University in Sao Paulo, as well as an MSc and BSc in Management, having majored in Strategy, both from the NOVA School of Business and Economics in Lisbon Edoardo Linari Associate Experience: Edoardo joined AXIA in August 2017 as an Associate in the Investment Banking Division, based in Milan. Prior to AXIA, Edoardo spent three years in Be Consulting, Milan, serving as Senior Strategy

Consultant. During this

time he was able to gain experience in both the banking and IT service sectors, specializing in Corporate Business Development and Digital Payments Services. Prior to that, Edoardo successfully completed a six-month internship in the Investment Banking Division of Nomura International Plc. in Milan Studies: Edoardo holds an MSc and a BSc in Electronic Engineering, with a major in Digital Electronics, both from the Polytechnic University of Milan Zacharias Psyris Associate Experience: Zacharias Psyris joined AXIA in March 2017 as an Analyst in the Investment Banking Division and he currently holds the position of Associate, having been promoted in April 2018. Prior to joining AXIA, Zacharias spent two years with Deloitte (Athens), serving as Senior Consultant in the Financial Advisory Services Department. During his spell at Deloitte, Zacharias was engaged in various Financial Due Diligence, Restructuring and Advisory projects, covering a wide range of

sectors. Prior to that,

Zacharias had successfully completed the three-month Internship Program of AXIA Studies: Zacharias holds an MSc in Accounting and Finance from the London School of Economics, having majored in Corporate Finance and a BSc in Accounting and Finance from the Athens University of Economics and Business Maria Almaça Associate Experience: Maria Almaça first joined AXIA in April 2015 as an Equity Research Analyst. Previously she worked at Banco BiG in the Institutional Sales Team for three years (2012- 2015) and initially (2010 – 2011) in the Research Department of the bank as an Equity Analyst. Between these two positions at Banco BiG she worked briefly in Deutsche Bank España in an ALM project Studies: Maria graduated from the Nova School of Business and Economics with a MSc in Finance and a MSc in International Management from the Community of European Management Schools (CEMS). In 2014 Maria became an accredited CFA charterholder

SLIDE 17

Our People

Investment Banking Division (Cont’d)

Sophia Pantazi Analyst Experience: Sophia joined AXIA in October 2017 as an Analyst in the Investment Banking

Division. Before

becoming a member of AXIA’s team, Sophia had successfully completed AXIA’s three-month Internship Program Studies: Sophia is currently at the last stage

f her studies at the

Athens University of Economics and Business, pursuing a BSc in Accounting & Finance, with a specialization in

Finance. Sophia was in

the winning team of the CFA Institute Research Challenge Competition, hosted by CFA Society Greece in 2017 Thomas Ploumis Analyst Experience: Thomas joined AXIA in October 2017 and currently holds the position of Analyst in the Investment Banking

Division. Before

becoming a member of AXIA’s team, Thomas had successfully completed AXIA’s three-month Internship Program. Prior to AXIA, Thomas undertook a two-month internship in the Tax Services Department of Ernst & Young, Greece Studies: Thomas holds a BSc in Accounting and Finance from the Athens University of Economics and Business, having majored in Finance Nikolaos Styponias Analyst Experience: Nikolaos joined AXIA in November 2017 as an Analyst in the Investment Banking

Division. Prior to that,

Nikolaos had successfully completed the three- month Internship Program of AXIA’s Research Division, with focus on Shipping. Prior to AXIA, he spent three years in New York, holding various internship positions, including sales and trading with a brokerage firm on the floor of the NYSE and as a Research Analyst at Capital Link, focusing on shipping- listed entities Studies: Nikolaos holds a BBA in Finance and Investments from the Zicklin School of Business, Baruch College Sean Dong Analyst (Employee of ACM) Experience: Sean joined AXIA Capital Markets, LLC in November 2017 as an Analyst in the Investment Banking Division. Prior to AXIA, he worked at Houlihan Lokey in New York, as an Analyst in the Financial Advisory Group. During his time at Houlihan Lokey, Sean specialized in fairness and solvency opinions for M&As, LBOs and corporate reorganizations Studies: Sean holds a BSc in Commerce from the McIntire School of Commerce, University of Virginia Theodosis Mitsiopoulos Analyst Experience: Theodosis joined AXIA in August 2017 as an Analyst in the Investment Banking Division. Prior to that, Theodosis served for two years as a consultant in the Financial Advisory Services Department of Deloitte, where he was involved in Financial Restructuring and Financial Due Diligence

projects. During this

period, he also spent nine months on secondment at Pillarstone, Greece Studies: Theodosis holds an MSc in Investment Management from Cass Business School in London and a BSc in Accounting and Finance from the Athens University of Economics and Business Tiago Araújo Analyst Experience: Tiago has the position of Analyst since June 2018. He Initially joined AXIA as an Equity Research intern in late 2017 and soon after he transitioned to the Investment Banking

Division. Before joining

AXIA, Tiago completed a two-month internship in the Finance Department

f an FMCG

manufacturing company Studies: Tiago holds an MSc in Management from the Nova School of Business and Economics, with a major in Financial Management, as well as a BSc in Political Science from the ISCTE-University Institute of Lisbon

SLIDE 18

Research Division

Our People

Jonas Floriani Director Experience: Prior to joining AXIA, Jonas spent three and a half years at KBW in London as an Equity Research Vice President, primarily covering Swiss private banks and Greek banks, as well as carrying out secondary coverage of Italian Banks. Prior to that, Jonas served as an Equity Research Associate at Jefferies in London. Jonas has also worked at Banco de Brasil and IG Markets Studies: Jonas holds a BA in Finance from the Federal University of Rio Grande do Sul in Brazil and in 2007 he completed the Investment Management Program of the London Business School Argyrios Gkonis Vice President Experience: Argyrios Gkonis initially joined AXIA in September 2013 as an Analyst, subsequently becoming an Associate before reaching his current

position. Prior to that, he

had successfully completed a six month internship with AXIA’s Research Division. Prior to that, Argyrios worked for the NBG group in Greece as Junior Analyst in the Retail Loan Audit desk for one year Studies: Argyrios holds a BSc MPhys in Applied Mathematics and Physics from National Technical University of Athens (NTUA) and an MSc in Financial Mathematics from Cass Business School Constantinos Zouzoulas Managing Director Head Experience: Prior to joining AXIA, from 2004 to August 2008, Constantinos was a Senior Equity Research Analyst at the Investment Bank of Greece. Prior to that, Constantinos worked as an equity research analyst for Emporiki Bank and Egnatia Securities, covering Greek equities. Constantinos had also worked for PwC, between 1998 and 2000 Studies: Constantinos holds a BSc in International Business with a minor in Economics from Wichita State University and an MBA in Finance from the University of Miami Celia Hjioannou Analyst Experience: Celia joined AXIA in November 2017 as an Analyst in the Research Division. Prior to AXIA, Celia spent a year at IronFX Global Ltd,

ne of the largest

Investment Firms in

Cyprus. During her

academic years, Celia had successfully completed a three-month internship program at Eurobank Cyprus Studies: Celia holds a BSc in Business and Public Administration from the Univerity of Cyprus, having majored in

Finance. She is also

registered in the CySEC Public Registry of Certified Persons as a holder of the Advanced Certificate in Financial Services Legal Framework Vasileios Karachalios Analyst Experience: Vasileios joined AXIA in March 2018 as an Analyst in the Research Division, after successfully completing a four-month internship in the Division. Prior to joining AXIA, between February 2015 and August 2016, Vasileios was employed at Mediterranean Shipping Company (MSC) as Trade

Coordinator. Before this,

he had completed a four- month Internship in the Banking Operations Department of BNP Paribas Securities Services Studies: Vasileios holds a MSc in Banking and International Finance from CASS Business School in London and a BSc in Accounting and Finance from the Athens University of Economics and Business

SLIDE 19

Capital Markets Division

Our People

Thanos Adamantopoulos Managing Director, ECM Experience: Prior to AXIA, Thanos was a Director at Citi’s Emerging Markets Equity Desk in London, where he was responsible for the clients’ and prop trading in Greece, Cyprus and Romania. Prior to Citi, he worked for six years at Piraeus Brokerage as a Sales Trader, covering foreign institutional investors, while previously he spent four years with Alpha Finance as a Sales Trader covering institutional investors Studies: Thanos holds an MSc from the University

f York in Project

Analysis, Finance and Investments and a BSc in Marketing from the American College of Greece Stavros Agrotis Director Experience: Before joining AXIA, Stavros spent 19 years with the Cyprus Investment and Securities Corporation Ltd (CISCO), as Manager of Brokerage

Services. Prior to that, he

served as Senior Auditor at Touche Ross & Co Chartered Accountants Leicester, UK for 5 years Stavros is a Founding Member of the CYSEC Members Association (served as Vice President for several years) Studies: Stavros holds a BSc in Economics from Leicester and is a licensed Stockbroker for the Athens and Cyprus Stock Exchanges Maria Mitsouli Executive Director Experience: Prior to joining AXIA, Maria worked for NBGI International, London in the Equity Sales

Department. Between

July 2005 - February 2008, Maria worked as a sales trader in Piraeus Bank (Foreign Institutional Equity Sales). Prior to that, she was the Head of the Derivatives Department in General Securities (ex-ABN AMRO) for nearly 5 years. Maria has also worked for Bloomberg L.P. Studies: Maria holds a BSc in Business Administration from the University of Piraeus and an MSc in Investment Management from City University Elias Calfoglou Director Experience: Prior to joining AXIA, Elias worked for the Investment Bank

f Greece as Equity Sales

Trader at the Foreign Brokers – Local Institutional Investors desk, for nine years (2004

2013). Prior to that, he

worked at Marfin Hellenic’s Equity Sales Trading desk for five years (1999-2004) Between 1997 and 1998, he was a trainee at Coutts & Co London at the Asset Management and Private Banking desks Studies: High School Diploma from Athens College Harry Smyrnopoulos Managing Director Experience: Harry joined AXIA in January 2013 as Senior Sales Trader in the Institutional Equity Sales

department. Prior to

joining AXIA, he was Head of Equity Sales of Greek and Foreign Institutionals at the Investment Bank of Greece since January 2007 and at EFG Securities for the period 2000 to 2006. Between 1998 and 2000, he was a Senior FX Trader at Societe Generale, while he was a FX Trader at Barclays Bank from 1994 to 1998 Studies: Harry holds an MA in International Politics from the University of Kent and a BSc in Business Administration from the American College of Greece Constantinos Koufopoulos Managing Director Experience: Prior to AXIA, Constantinos was a Sales Trader at Piraeus Securities covering Greek and Cypriot Equities since August 2006. Before that, he held a similar position at Egnatia Securities for the period (Mar 2004 - Aug 2006). In the period December 1999 - March 2004, he was Senior Derivatives Sales Trader and Market Maker at Marfin Hellenic Securities. Before that he was working as a Bond Dealer at Bank of America- Athens Studies: Constantinos holds an MBA from ALBA Greece and a BA in Economics from the American College of Greece Vaia Dotsia Associate Experience: Vaia joined AXIA in October 2012 and, after rapid development across various roles in AXIA’s Investment Banking and Marketing departments, assumed the role of Associate in AXIA’s Equity Capital Markets Division in April 2018 Studies: Vaia holds a Bachelor’s Degree in Economics and Business from the Athens University of Economics and Business, with a specialization in Finance

SLIDE 20

Group Operations Division

Our People

Omiros Pissarides COO & Group General Manager Experience: Omiros Pissarides joined AXIA in September 2010 and holds the position of COO & General Manager. Prior to AXIA, Omiros successfully developed and managed an investment portfolio, focusing on quoted equity, real estate and hospitality industry

assets. Prior to that, he

was the Regional Channel Manager for Middle East, Africa and Pakistan of Nasdaq-quoted Intermec

Technologies. From 2002

to 2005, Omiros was the General Manager of Logicom Dubai. Omiros has also worked for Arthur Andersen during the period 1998 to 2000 Studies: Omiros holds a BSc in Economics and Accounting from Hull University and an MBA from Imperial College Demos Vasou Group Financial Controller Experience: Demos Vasou is the Group Financial Controller of AXIA. Prior to AXIA, Demos held the position of Financial Controller at L. Livadhiotis Developers Ltd. He has six years of audit experience with Deloitte & Touche Ltd and Horwarth Philippides & Partners Studies: Demos holds a Bachelor’s degree in Business Administration (Accounting) from Queens College in New York and he is a Certified Public Accountant (CPA, NY). Demos became a Member

f the American Institute
f Certified Public

Accountants (AICPA) – August 2005 and Member

f the Institute of Certified

Public Accountants of Cyprus (ICPAC) – December 2005 Constantina Aggelopoulou Group Compliance Experience: Constantina Aggelopoulou joined AXIA in November 2008 and is currently the Compliance Officer of the Group. Prior to joining AXIA, from 2006 to 2008, Constantina was the Administrative Services Manager of Energon Capital Finance. Constantina has extensive experience of the Greek Stock Market, having worked for 5 years with NEXUS Securities S.A., 2 years with DYNAMIC Securities S.A., 2 years with KYKLOS Securities S.A. and 2 years with International Union Studies: Constantina is an experienced accountant and a member of the Hellenic Institute of Internal Auditors and a Certified Professional for Reception and Transmission of Orders from the Athens Stock Exchange Committee Luis Vasconcelos General Manager - Portugal Experience: Luis Magalhães Vasconcelos joined AXIA in 2015 and holds the position of General Manager of the Portugal branch. Prior to joining AXIA, Luis was Managing Director in the Wealth Management department of Portuguese Expatriate Markets at Banco Espirito Santo (BES) – Novo

Banco. Luis has broad

work experience in banking since 1983, having spent 16 years with BES and 9 years with Banco Comercial Portugues (BCP), holding several positions, such as Manager of Corporate Banking, and Director of Credit Risk Department at BCP Investment Bank Studies: Luis holds a BA in Economics, Politics and International Studies at Warwick University Stephanie Choremi Human Resources Manager Experience: Stephanie joined AXIA in September 2015 and currently holds the position of Human Resources Manager. Prior to joining AXIA, between 2012 and 2015, Stephanie was employed in Athens at TATOI Club Ltd, one of Greece’s most exclusive private country clubs, where she was involved in creating, developing and implementing the

perational procedures.

She then assumed the role of Sales & Relationship Manager. Before this, she spent two years in Quintessentially, Athens, Greece. Studies: Stephanie holds a BSc in Management from the CASS Business School in London, with a strong focus on Human Resources Management

SLIDE 21

AXIA Ventures Group Limited (“AXIA”), which is responsible for issuing this marketing document (the “Document”) is incorporated in Cyprus, is authorized to provide investment and ancillary services and is regulated by the Cyprus Securities and Exchange Commission (CySEC license 086/07). AXIA has an established presence in a number of jurisdictions and may provide investment and ancillary services in other EU and third countries through subsidiaries, branches or on a cross border basis (as appropriate) subject to applicable legislation. All statements of opinion contained in this Document, all views expressed and all projections, forecasts and/or statements relating to expectations regarding future events or the possible future performance of AXIA represent AXIA’s own assessment based on information available to it as at the date of this Document. In preparing the Document, AXIA has relied upon and assumed, without independent verification, the accuracy and completeness of all information available from public sources or received by and/or on behalf of its client. No representation is made or warranty or guarantee of any kind is given by AXIA or any of its affiliates, directors, officers and employees as to the accuracy, completeness, achievability or reasonableness of any such projections, views, statements, or forecasts which are, by their own nature, implicitly predictive and speculative and involve risk and uncertainty. The projections, views, statements and forecasts herein are based upon various assumptions and estimates, which AXIA considers to be reasonable assumptions and estimates, which involve significant elements of subjective judgment and analysis and which are subject to uncertainties and contingencies; there are several risks, uncertainties and factors that may cause actual results to differ materially from those set forth in any such projections, views, statements and forecasts that are, expressly or implicitly, provided by AXIA. The mentioned statements reflect AXIA’s current expectations regarding the relevant subject matters and are subject to the above mentioned risks, uncertainties and factors. AXIA and any of its affiliates, directors, officers and employees expressly disclaim any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement to reflect events or circumstances after the date on which such statement is being made, or to reflect the occurrence of unanticipated events. The Document has been prepared by AXIA exclusively for the benefit and internal use of the recipient. The recipient is not permitted to duplicate the information provided in the Document and to communicate the received information to any third party without AXIA’s prior written consent. The Document does not constitute investment, legal, accounting, regulatory, taxation or other advice and does not take into account investment objectives and/or legal, accounting, regulatory, taxation or financial situation and/or particular needs. The recipient of this Document is solely responsible for forming its own

pinions and conclusions on such matters and the market and for making its own independent assessment of the Document. The recipient is solely responsible for

seeking independent professional advice in relation to any action taken on the basis of the Document.

Dis isclaim imer

SLIDE 22

Cyprus – Nicosia (Head Office) 10 G Kranidioti St. Suite 102 1065 Nicosia, Cyprus Switchboard: +357 22 74 2000 Fax: +357 22 74 2001 Greece – Athens (Branch) 4 Vasilissis Sofias Ave. 3rd Floor, 10674 Athens, Greece Switchboard: +30 210 741 4400 Fax: +30 210 741 4449 USA – New York (Subsidiary) 645 Fifth Avenue, Suite 903 New York, NY 10022, USA Switchboard: +1 212 792 0255 Fax: +1 212 792 0256 UK – London (Representative Office) Berkeley Square House Berkeley Square, London W1J 6BD, United Kingdom Switchboard: +44 (0) 207 887 6080 Fax +44 (0) 27 887 6001 Portugal – Lisbon (Branch) Avenida da Liberdade 240, 4th Floor 1250-096 Lisbon, Portugal Switchboard: +351 21936 4440 Fax: +351 21936 4449 Italy – Milan (Representative Office) 26 Corso Venezia, 1st Floor, 20121 Milan, Italy Switchboard: +39 023 5963390 Fax: +39 023 5963391