Vigo Photonics S.A.

Regulatory Filings • May 10, 2023

Receipt ofproject co-financing by the Company - an important element of theimplementation of the Strategy.

ManagementBoard of VIGO Photonics S.A. (_quot;Company_quot;, _quot;Issuer_quot;) informs that today itreceived information about the placement of the Issuer's project,entitled _quot;Development of an innovative photonic water resourcesmonitoring system_quot; (in short: _quot;Project_quot;) on the List of projectsselected for co-financing under the 1st competition of the GovernmentStrategic Program Hydrostrateg _quot;Innovations for water management andinland navigation_quot;. VIGO Photonics S.A. is the Consortium Leader,consisting of which also includes the Warsaw University of Technologyand the European Regional Center for Ecohydrology of the Polish Academyof Sciences.Thetotal amount of eligible costs of the Project is PLN 23,962,066.25, andthe amount of co-financing is PLN 20,214,504.05, which is 84.36% of thetotal costs eligible for support. The Issuer's eligible costs amount toPLN 13,123,191.25, while the co-financing for the Company amounts to PLN9,375,629.06.Theduration of the Project and co-financing is 36 months. Theimplementation of the Project will start on October 1, 2023.Aspart of the project, new photonic and non-contact measurement methodswill be developed and verified, and then autonomous probes will be builtfor remote monitoring of selected quality parameters of water resources(i.e. monitoring the content of nitrates, nitrites and phosphoruscompounds). Detection of signals (in the range of 3-11 _#956;m) from selectedsubstances with systems adapted to them will allow for miniaturization,automation and cost reduction with an increased level of protection ofthe monitored areas.Consideringthe value of the subsidy obtained, the Issuer believes that it will beof significant importance from the point of view of the Issuer'sfinancial situation, implementation of the strategy and prospects fordevelopment.Theimplementation of the Project is a continuation of the implementation ofthe assumptions of the Company's Strategy for the years 2021-2026, aboutwhich the Issuer informed in current report No. 12/2021 on June 16, 2021.Legalbasis: art. 17 sec. 1 of Regulation (EU) No. 596/2014 of the EuropeanParliament and of the Council of 16 April 2014 on market abuse (MarketAbuse Regulation) and repealing Directive 2003/6/EC of the EuropeanParliament and of the Council and Commission Directive 2003/124 /EC,2003/125/EC and 2004/72/EC (_quot;MAR Regulation_quot;)