Athens, April 13, 2017 – Further to its announcement on 20 March 2017 (the “March Announcement”), Frigoglass S.A.I.C. (“Frigoglass” or the “Company” and, together with its consolidated subsidiaries, the “Group”) announces today that it has entered into a legally binding agreement (the “Lock-Up Agreement”) on the key terms of a restructuring of its indebtedness (the “Restructuring”) with an ad-hoc committee (the “Ad-Hoc Committee”) representing holders of approximately 39% of the 8.25% Senior Notes due 2018 (the “Senior Notes”) issued by the Company’s subsidiary Frigoglass Finance B.V., Frigoglass’s core lending banks (Citibank, HSBC, Alpha Bank and Eurobank (collectively, the “Core Banks”)) and its major shareholder, Boval S.A. (“Boval”).