Ciech S.A.

Governance Information • May 18, 2022

TheManagement Board of CIECH S.A. (the "Issuer" or_#160;"Company")herewith informs that on 18 May 2022, the Supervisory Board of theCompany approved the "Corporate Strategy 2022-2024" as adopted by theManagement Board of the Company (the "Strategy").

Theaim of the Strategy is to continue building a modern and competitivechemical group with a global reach. The Strategy assumes theintensification of activities in the following three areas: business,corporate - understood as a further transformation of the CIECH Groupand the area of _#8203;_#8203;value creation for all stakeholders of the CIECHGroup.

Themain assumptions of the Strategy are: further development of corebusinesses in order to increase the possibility of generating operatingflows and regular payment of dividends, the possibility of acquisitionswithin core businesses and further transformation of the CIECH Groupusing digitisation and innovation, and the continuation of buildingcorporate culture, process excellence and improving the safety of theCIECH Group employees.

Thefollowing are strategic financial goals of the CIECH Group:

1.normalised EBITDA in 2024 ranging between PLN 870 million and PLN 930million;

2.cash conversion in 2024 at the level of 30 - 35 %; and

3.cumulated FCFE for the period 2022-2024 - PLN 580 million - PLN 680million.

TheStrategy has been appended to this Report.

Thepresented data cannot be understood as a forecast of future results ofCIECH S.A. or the CIECH Group. Any forward-looking statements, i.e.regarding expectations as to future financial results do not constitutea guarantee or assurance of their achievement in the future. CIECH S.A.shall not be held responsible for the effects of any decisions made onthe basis of the presented data. Such responsibility rests solely withthe data user.

Legalbasis:_#160;Article17.1 of the Regulation of the European Parliament and of the Council(EU) No. 596/2014 of 16 April 2014 on Market Abuse (the Market AbuseRegulation) and repealing Directive 2003/6/EC of the European Parliamentand of the Council and Commission Directives 2003/124/EC, 2003/125/ECand 2004/72/EC (Official Journal of the European Union L No. 173, p. 1).