Announcement

Candidates must meet the following requirements:

1. Applicants must hold Montenegrin citizenship.
2. Applicants must not be older than 30 years of age ( born after 31 December 1995). Candidates with proven professional experience in fields related to the desired study program may apply provided they are not older than 32 years of age (they must have been born after 31 December 1993).
3. Applicants must be graduates of Montenegrin universities or hold an equivalent degree from a foreign university.
4. Applicants must have a minimum grade point average of 8/10 from undergraduate studies in Montenegro or an equivalent grade of “Excellent” from a foreign university.
5. Candidates who do not meet this requirement may apply if their academic results place them within the top 10% of their graduating class.
6. Applicants must have written confirmation of acceptance to the postgraduate program they intend to study or already be enrolled in it. Those who are already attending or have completed the first year of a two-year postgraduate program and achieved excellent exam results in the first year may also apply.
7. Employees of the Group and its subsidiaries, as well as their first-degree relatives, are not eligible to apply.
8. Scholarships are awarded exclusively for full-time studies; applications for distance learning or part-time studies will not be accepted.
9. The start of the scholarship is determined based on the official start date of the relevant study program. Scholarships do not have retroactive effect.
10. The application deadline is May 18^th, 2026, with no possibility of extension. Applications may be submitted exclusively online via https://scholarships.helleniqenergy.gr/montenegro.

Candidates are requested to submit their application and the following supporting documents electronically only at the link https://scholarships.helleniqenergy.gr/montenegro

1. A recent photograph of the candidate (face).

2. Photocopy of police ID or passport.

3. Copy of degree/diploma with final grade and transcript of all years or transcript with average grade up to the date of application, which must be at least 8/10. In addition, graduates of foreign universities are required to send an extract from the study regulations, which states the grading scale of the university from which they graduated.

For those who do not meet the grade criteria mentioned in the GENERAL REQUIREMENTS, a certificate from the school's secretariat is required, stating that their degree grade corresponds to the highest percentage of grades (10%) for the year of graduation from the relevant school.

For those applying for a scholarship for the 2nd year of their postgraduate studies, a detailed transcript of all exams taken during the 1st year of their studies must be submitted.

4. Certificate of enrolment or letter of acceptance to the postgraduate programme, or a copy of correspondence between the scholarship candidate and the university proving that their application has been completed.

5. Official document (e.g. excerpt from the study regulations) stating the programme, duration (start and, if possible, end date) and tuition fees for the intended studies.

6. Letters of recommendation from professors at the university where the candidate completed their studies. The letters must be signed. Certificate of previous employment of the candidate, provided that previous work experience is a prerequisite for admission to the university where the candidate intends to study, or the candidate is over 30 years of age and their previous work experience is relevant to the postgraduate programme for which they are applying for a scholarship.

7. Detailed and up-to-date curriculum vitae in English. Scholarships, awards and knowledge of foreign languages mentioned in the curriculum vitae must be proven by official documents.

8. Gross annual family income for the financial year 2025 or 2024 if 2025 has not yet been issued. If the applicant is not required to submit an income tax return, they must submit a relevant solemn declaration in accordance with the Law on Notaries.

9. F1/J1 visa for the United States, or any other equivalent document of legal residence and enrollment for applicants who are already studying or intend to pursue their studies abroad.

10. Certificate of family status. Additionally, you may optionally provide information regarding your personal circumstances (e.g. unemployment, disability, member of a large family, etc.) and submit the relevant supporting documents.

• Candidates must submit their application on the online platform at https://scholarships.helleniqenergy.gr/montenegro by May 18^th, 2026.
• Additional documents may be sent online to scholarships.montenegro@jugopetrol.co.me, with the subject line indicating the corresponding reference number, which candidates will receive online immediately after submitting their application.
• Candidates may apply for only one of the four sectors (Engineering and Energy, Economics and Management, Digital Transformation, Environmental Sciences).
• Only applications that meet all the requirements of this Call for Applications will be included in the evaluation process.

• The Evaluation Committee, composed of senior executives of the Group, invites, at its discretion and based on the criteria set out in the call for applications, selected candidates for an interview, identifies the most qualified applicants, and submits the final list of proposed scholarship recipients to Management.
• The Group’s Management, at its sole discretion, approves the proposed scholarship recipients and determines the number of scholarships to be awarded per field of study. These decisions are final and not subject to appeal or any form of objection.
• The results of the evaluation will be announced in August 2026.
• The results will be posted online at https://scholarships.helleniqenergy.gr/montenegro.
• Each candidate will be informed of the results of their application by email.

• The scholarship is finalised and awarded after the scholarship agreement has been signed.
• After the scholarship results are announced, the scholarship recipient does not have the right to change the study programme they have submitted, except for reasons of force majeure, which will be assessed by the Evaluation Committee and the Group's Management at their sole discretion.

• The start date of the scholarship is defined as the official start date of the study programme.
• The total duration of the scholarship cannot exceed the minimum duration of studies specified in the study programme of the university to which the candidate has been admitted. The maximum duration of the scholarship is two years, with no possibility of extension.
• The scholarship may be suspended at the request of the scholarship holder for a period of less than 9 months, provided there are serious reasons for doing so.
• The Management of HELLENiQ ENERGY shall decide, at its discretion, to revoke or permanently terminate the scholarship in the event of non-completion or interruption of the scholarship holder's studies, or if the Group's Management considers that there are serious reasons for doing so (course of study, scholarship holder's conduct, etc.).

The scholarships consist of tuition fee coverage and, in specific cases, additional support for living expenses, in accordance with the following terms:

1. Studies in Montenegro
1.1 Tuition fees are covered up to the amount of €2,500.
1.2 For postgraduate programs with tuition fees up to €1,000, additional financial support may be granted to partially cover living expenses, amounting to €100 per month, provided that the following conditions are cumulatively met:
• Fulfilment of the minimum income criteria, as defined in the latest Household Income and Living Conditions Survey conducted by MONSTAT¹.
• The university of study is located more than 40 kilometers away from the applicant’s permanent residence.

2. Studies abroad
2.1 Tuition fees are covered up to the amount of €10,000.
2.2 For postgraduate programs with tuition fees up to €2,000, additional financial support may be granted to partially cover living expenses, amounting to €450 per month.

• The duration of studies should not be less than nine months. The duration of the scholarship is calculated on the basis of the minimum duration specified in the study regulations for the specific year and programme.

¹ The 2024 survey is available here. In the event that updated data for 2025 are published, they will be taken into consideration during the evaluation of applications.

Scholarship recipients undertake the following obligations:

• Send their detailed grades immediately after the results for each semester are published (official school document).
• Submit a progress report for each semester of study.
• Submit, upon completion of the postgraduate programme, a copy of their postgraduate degree, a summary report on their scientific activity and their programme for the coming years.
• Mention their status as JUGOPETROL AD scholarship holders in their CV, in any scientific announcement or paper produced during their scholarship, as well as in their thesis.
• Upon completion of their studies and within a reasonable period of time, submit a copy of the cover page of their dissertation/thesis and the internal pages that refer to the JUGOPETROL AD scholarship.
• Agree, upon completion of their studies, to be employed by the Group, if requested and provided that there is no practical obstacle on their part (personal or professional), which they must document.
• Register with the HELLENiQ ENERGY Alumni Community, a network of the Program’s scholars that aims to maintain connection between scholarship recipients and the Group, strengthen networking and knowledge exchange, and create opportunities for professional and personal development.
• Provide written updates on their academic or professional progress on an annual basis for three years after the end of the scholarship.