Debt Summary

At September 30, 2017, OTE Group gross debt amounted to €1,951.4 million. The total amount of OTE Debt outstanding breaks down as follows (under IFRS):

(€ mn)

September 30, 2017

September 30, 2016

Change

December 31, 2016

Change

Medium & Long-term:

-Bonds

1,643.6

1,686.0

-2.5%

1,667.4

-1.4%

-Bank loans

307.8

479.5

-35.8%

457.7

-32.7%

Total Indebtedness

1,951.4

2,165.5

-9.9%

2,125.1

-8.2%

Cash and Cash equiv.

1,297.0

1,364.9

-5.0%

1,585.6

-18.2%

Net Debt

654.4

800.6

-18.3%

539.5

-12.3%

Other financial assets

5.5

7.1

-22.5%

5.6

-1.8%

Underlying Net Debt

648.9

793.5

-18.2%

533.9

+21.5%