Annual Report of the Board of Directors

TITAN

On 31.12.2011 the following shareholders held more than 5% of the total voting rights in the Company: Mr. Andreas L. Canellopoulos holding 12.84% and the “Paul and Alexandra Canellopoulos Foundation” holding 9.87% of the total voting rights in the Company.

Today (1.3.2012) the following shareholders hold more than 5% of the total voting rights in the Company: Mr. Andreas L. Canellopoulos holding 12.84%, the “Paul and Alexandra Canellopoulos Foundation” holding 9.87% and “Capital Research and Management Company” holding 5.21% of the total voting rights in the Company.