Profit Warning

December 17, 2015

Dear Sirs, Pursuant to the provisions of the Securities and Cyprus Stock Exchange Laws and Regulations and of the Cyprus Securities and Exchange Commission and in view of fully informing shareholders and investors in general, Alkis H. Hadjikyriakos (Frou Frou Biscuits) Public Ltd announces that it expects a decrease in the Group’s profitability by the end of 2015 compared to 2014. Despite the significant improvement in the Group’s liquidity in 2015 compared to previous years, decreased profitability is a result of the further worsening of the problems of liquidity and a more fierce competition on the market and trade, factors which continue to adversely affect the recovery and improvement of the Group’s results. The Management’s objective continues to be the minimisation of the negative impact of prevailing market conditions on the Group’s business, in order to keep the Group’s companies financially healthy and profitable until our country’s final exit from recession. It must be noted that the much advertised recent weak indications of recovery of the Cypriot economy are not yet reflected in the actual and harsh market conditions of the market and front-line businesses. The strategic actions launched by the Company in 2014 and 2015 are expected to have a positive impact on the results of 2016 during which, barring any unforeseen circumstances, profitability is expected to improve compared to 2015. Yours, FOR ALKIS H. HADJIKYRIAKOS (FROU FROU BUSCUITS) PUBLIC LTD Andreas Theocharides Chief Financial Officer