Werth Holz Spolka Akcyjna

Major Shareholding Notification • Feb 21, 2022

January 31, 2022

Notifying party:

Tonsa SCA, SICAV RAIF 2 Place de Strasbourg 2562 Luxembourg, Luxembourg (the "Notifying Party")

Komisja Nadzoru Finansowego

(Polish Financial Supervision Authority) ul. Piekna 20 00-549 Warsaw, Poland

Werth Holz S.A.

ul. Jasna 14/16A 00-041 Warszawa, Poland (the "Company")

NOTIFICATION

Pursuant to Article 69a Section 1 Item 3 in conjunction with Article 69 Section 1 Item 1 of the Act on Public Offering and Conditions Governing the Introduction of Financial Instruments to the Organized Trading System and Public Companies of 29 July 2005 (the "Public Offering Act"), the Notifying Party hereby gives notice of the indirect acquisition of 16,413,446 (sixteen million four hundred and thirteen thousand four hundred and forty-six) shares in the Company (the "Shares").

The indirect acquisition of Shares results from the obtaining by the Notifying Party of a controlling subject status in a company Sovereign Capital with its registered office in Warsaw ("Sovereign Capital"), which is the sole owner of 16,413,446 (sixteen million four hundred and thirteen thousand four hundred and forty-six) shares in the Company constituting 19.27% of the shares in the share capital of the Company, corresponding to 16,413,446 (sixteen million four hundred and thirteen thousand four hundred and forty-six) votes at the general meeting of shareholders of the Company, constituting 19.27% of the votes at the general meeting of sharcholders of the Company (the "Acquisition"). The Acquisition occurred on 26 January 2022 as a result of the completion of an agreement for the sale and purchase of 65.57% of the shares in Sovereign Capital concluded on 25 January 2022 between the Notifying Entity and Opoka II Fundusz Inwestycyjny Zamknięty with its registered office in Warsaw.

Prior to the Acquisitions, the Notifying Party did not hold, directly or indirectly, any shares in the Company.

Upon the Acquisitions and as at the date of this notification, the Notifying Party (i) does not directly hold any shares in the Company and (ii) indirectly holds (through Sovereign Capital) 16,413,446 (sixteen million four hundred and thirteen thousand four hundred and forty-six) shares in the Company constituting 19.27% of the shares in the share capital of the Company, corresponding to 16,413,446 (sixteen million four hundred and thirteen thousand four hundred and forty-six) votes at the general meeting of shareholders of the Company, constituting 19.27% of the votes at the general meeting of shareholders of the Company.

Furthermore, the Notifying Party hereby gives notice that:

• a) The Notifying Party does not have any subsidiaries other than Sovereign Capital holding any shares of the Company;
• b) The Notifying Party is not a party to any agreement on the transfer of rights to exercise the voting rights vested in the Company's shares, within the meaning of Article 87 Section 1 Item 3 Letter c) of the Public Offering Act;

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c) The Notifying Party does not hold any financial instruments and is not autored in Article of Obliged The Nothying Farty does not on the terms and conditions stipulated in Article 69 Section 4 Item 7 of the Public Offering Act;

The Notifying Party does not hold any financial instruments directly or indirectly related to The Nothying Farty Good fored to in Article 69 Section 4 Item 8 of the Public Offering Act.

Due to the fact that the Notifying Party does not hold any financial instruments referred to in Due to the tact that the Noth Jing 1 of the Public Offering Act, the total number of votes in the Company, as well as the total percentage share in the total number of votes in the Company, company, as well as the total percentifiem 9 of the Public Offering Act, correspond to the previously indicated number of votes attached to the shares of the Company held by the previously indicated mailitor volly indicated percentage share of such votes in the total number of votes in the Company.

/signatory page to follow/

Signature page of Tonsa SCA, SICAV RAIF

On behalf of the Notifying Party:

	Podpis jest prawidłowy
	Dokument podpisary przez	P
Signature:	Ryszard Kreite 14:25:49 CET	D B D
Name and surname:	Ryszard Klimczyk
Position:	Proxy

odpis jest prawidłowy
Dokument probilowy
Bartosz Napoliskowy przez
Datament przez CET
Bartosz Napolski

Proxy

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