NOTIFICATION OF CHANGE IN SHAREHOLDING

The Management Board of Polenergia S.A. seated in Warsaw (‘Company’), acting pursuant to Art. 70 item 1 of the Act of 29th July 2005 on public offering, conditions governing the introduction of financial instruments to organised trading, and public companies (Journal of Laws 2018.512, i.e. of 12th March 2018), hereby announces that on 25th October 2018 it received from Mansa Investments sp. z o.o. (‘Mansa’) a notification of a change in shareholding.

Mansa notified the Company that, as a result of a settlement on 25th October 2018 of an acquisition by Mansa of 655,286 shares of the Company, related to the invitation to subscribe for the sale of the Company’s shares announced by Ms. Dominika Kulczyk and Mansa, Mansa’s share in the total number of shares in the Company’s share capital increased by 1.44 pp, and Mansa’s share in the total number of votes at the General Meeting of the Company increased by 1.44 pp.

The Company hereby presents the contents of Mansa’s notification of the change in shareholding.

“In compliance with an obligation under Art. 69 (2) item 2 and Art. 77 (7) of the Act of 29th July 2005 on public offering, conditions governing the introduction of financial instruments to organised trading, and public companies (‘Act’), on behalf of Mansa Investments sp. z o.o. seated in Warsaw, 24/26 Krucza St., 00-526 Warsaw, Poland (‘Mansa’), we hereby announce that, as a result of a settlement on 25th October 2018 of an acquisition by Mansa of 655,286 shares of Polenergia S.A. seated in Warsaw (‘Company’), (‘Transaction’), related to the invitation to subscribe for the sale of the Company’s shares announced by Ms. Dominika Kulczyk and Mansa, Mansa’s share in the total number of shares in the Company’s share capital increased by 1.44 pp, and Mansa’s share in the total number of votes at the General Meeting of the Company increased by 1.44 pp.

Prior to the Transaction, Mansa held 22,811,757 shares of the Company, constituting 50.2% of the share capital of the Company and authorising to exercise 22,817,757 votes at the General Meeting of the Company, which constituted 50.2% of the total number of votes at the General Meeting of the Company.

After the Transaction, Mansa holds 23,467,043 shares of the Company, constituting 51.64% of the share capital of the Company and authorising to exercise 23,467,043 votes at the General Meeting of the Company, which constitutes 51.64% of the total number of votes at the General Meeting of the Company.

Mansa’s subsidiaries do not hold any shares of the Company.

Mansa did not enter into a contract referred to in Art. 87 (1) item 3 letter c of the Act, i.e. a contract whose subject is a transfer of a right to exercise a voting right.

Mansa does not hold any financial instruments that, on maturity, give the holder the unconditional right or oblige the holder to acquire shares to which voting rights are attached, already issued by the Company, as referred to in Art. 69b (1) item 1 of the Act.

Mansa also does not hold any financial instruments that relate to the Company’s shares directly or indirectly, and have economic effects similar to the effects of financial instruments referred to in the preceding sentence, as referred to in Art. 69b (1) item 2 of the Act.”