Ciech S.A.

Major Shareholding Notification • Jan 10, 2023

The ManagementBoard of CIECH S.A. ("Company" or "Issuer")hereby informs that it has received a notification fromPowszechneTowarzystwo Emerytalne Allianz Polska S.A.with its registered seatin Warsaw acting on behalf and for the benefit of the investment fundsmanaged by it, that is (i) Allianz Polska Otwarty Fundusz Emerytalny[Open Pension Fund] (hereinafter "Allianz OFE"), (ii) Allianz PolskaDobrowolnyFunduszEmerytalny [Voluntary Pension Fund] (hereinafter "Allianz DFE", andtogether with Allianz OFE - the"Funds"),containing information on exceeding the 5% threshold in the total numberof votes of the Issuer by the Funds (pursuant to Art. 87(1)(2b) of theAct on Public Offering), which occurred as a result of the merger (thattook place on 30/12/2022) of Powszechne Towarzystwo Emerytalne AllianzPolska S.A. with Aviva Powszechne Towarzystwo Emerytalne Aviva SantanderS.A. managing Drugi Allianz Polska Otwarty Fundusz Emerytalny [SecondOpen Pension Fund] (hereinafter: "Second Allianz OFE").

Prior to themerger, the Funds held104,554 shares in the Company,representing0.20% of the Company's share capital. Theshares held entitled to 104,554 votes at the Company's General Meeting,which accounted for 0.20% of the total number of votes at the GeneralMeeting.

Second AllianzOFEfund held3,284,470 shares in the Company, representing6.23%of the Company's share capital. The shares held entitled to3,284,470 votes at the Company's General Meeting, which accounted for6.23% of the total number of votes at the General Meeting.

The number ofshares in the Company held by the Funds Allianz OFE, Allianz DFE andSecond Allianz OFE after the Mergeris 3,389,024 shares in the Company, representing 6.43%of theCompany's share capital. The shares held entitle to exercise 3,389,024votes at the Company's General Meeting, which accounts for 6.43% of thetotal number of votes at the General Meeting. This means that, as aresult of the Merger, the Funds exceeded 5% of the total number of votesin the Company.

PowszechneTowarzystwo Emerytalne Allianz Polska S.A., which jointly managesAllianz OFE, Allianz DFE and Second Allianz OFE, also informed theCompany that: (i) it has no subsidiaries holding shares in the Company,(ii) there is no situation described in Article 69(4)(6) on theorganisation and operation of pension funds, (iii) it also has nofinancial instruments referred to in Article 69b(1)(1) and (2) of theaforementioned Act.

The Companyattaches the contents of the notification.

Legal basis:_#160;Article70 point 1 of the Act of 29 July 2005 on Public Offering, ConditionsGoverning the Introduction of Financial Instruments to OrganizedTrading, and Public Companies - acquisition or disposal of a large blockof shares