AGORA S.A.

Legal Proceedings Report • Jan 9, 2024

Initiationof consultation procedure on downsizing at Agora S.A.TheManagement Board of Agora S.A. with its registered seat in Warsaw(_quot;Company_quot;) hereby informs that on January 9, 2024, in accordance withthe Act of March 13, 2003 on Special Rules for Termination of Employmentfor Reasons Not Attributable to Employees, resolved to initiate theconsultation on group layoffs with the trade unions operating in theCompany. Additionally, in accordance with the Act of April 7, 2006 oninforming and consulting employees, the Company's works council shallalso be consulted on the group layoff process.Theintention of the Company is to lay off up to 190 employees of theCompany in the fields of Digital and Printed Press and Internet (whichconstitutes ca. 14.15% of employees of the Company as of January 9,2024) between February 5 and March 31, 2024.Thereason for the planned group layoffs in the field of Digital and PrintedPress are market factors resulting from the steady downward trend insales of printed press connected with the outflow of readers to othercommunication channels, whereas the reason for the group layoffs in thefield of Internet is a clear deterioration in revenue from advertisingsales in the open market model and the rise of global platforms. Due tothese factors, the Company must take measures aiming at adapting to thechanging market environment and customer expectations and therestructuring is an essential condition to stabilize the financialsituation of the Digital and Printed Press and Internet, and to ensurestability, development and market position in the coming years.TheCompany shall go through these difficult changes in a thought out mannerand with care for its employees, offering the dismissed employeesstatutory severance payments and additional benefit, the amount of whichshall be the subject of consultations with the trade unions.OnJanuary 9, 2024 the Management Board of the Company shall request thetrade unions operating at the Company and the Company's works council tojoin in the consultation on collective redundancy process and shallprovide the relevant Labor Office with information on the intention toexecute group layoffs in the Company.TheCompany shall publish a regulatory filing on collective redundanciesafter the process of consultation with trade unions and works counciloperating at the Company, as required by the law, is finalized. Thisregulatory filing shall also include information on the estimated amountof provision related to the restructuring of employment in Agora S.A.which will be fully charged to the result of the Company and of AgoraGroup in the 1st quarter of 2024. The final data regarding the amount ofthe provision and the effect of employment restructuring on thefinancial results of the Company and of Agora Group shall be publishedin the financial statements of the Company and of Agora Group for the2nd quarter of 2024.Legalbasis: article 17, paragraph 1 of the Regulation of the EuropeanParliament and Council Regulation (EC) No. 596/2014 of April 16, 2014 onmarket abuse (Regulation on Market Abuse) and repealing Directive2003/6/EC of the European Parliament and of the Council and theCommission Directive 2003/124/EC, 2003/125/EC and 2004/72/EC (Acts.Office. EC L 173, 06.12.2014).