The Board of Directors of PPC has approved, in a previous meeting, the setting up of an EMTN program. This program is a flexible, medium to long-term funding tool, through which the Company can raise capital, taking advantage of the potential market opportunities.

In today's meeting, the BoD just approved the highest level of the EMTN program, which initially can reach up to euro 2 bln. The exact amounts and time that the company will decide to make use of the EMTN programme, up to the approved amount of euro 2 bln, will be determined by the funding needs of the Company and prevailing market conditions.