PCF Group S.A.

Legal Proceedings Report • Aug 21, 2023

Conclusion of a settlement agreement with O_#220; Blite FundWithreference to the current report No. 48/2021 of 13 December 2021, theManagement Board of PCF Group S.A. with its registered office in Warsaw(the "Company") announces that on 21 August 2023 the Company concluded asettlement agreement with O_#220; Blite Fund, an Estonian limited liabilitycompany with its registered office in Tallin, Estonia (the "SettlementAgreement", "Blite Fund"), pursuant to which the Company agreed to payto Blite Fund the amount of PLN 2,050,000.00 as an increase of thepurchase price for 7,143,900 shares of Incuvo S.A. with it registeredoffice in Katowice (the "Earn-Out"), acquired by the Company under thepurchase agreement of shares of Incuvo S.A. entered into on 13 December2021 between the Company and Blite Fund (the "Share PurchaseAgreement"). The payment by the Company of the Earn-Out shall constitutea complete settlement of mutual claims of the parties arising under orin connection with the execution and performance of the Share PurchaseAgreement. The Earn-Out amount will be reflected in Company's secondquarter 2023 accounts.