GPW - Giełda Papierów Wartościowych w Warszawie S.A.

Report Publication Announcement • Nov 3, 2021

Current Report No. 22/2021Date: 3 November 2021Topic:Granting a loan to the Towarowa Giełda Energii up to PLN 240 millionLegalbasis: Article 17(1) MAR - inside informationContent:TheManagement Board of the Warsaw Stock Exchange ("GPW", "Company" or"Exchange") announces that on 3 November 2021, GPW has granted arevolving loan to the Towarowa Giełda Energii S.A. ("TGE") up to PLN 240million (in words: two hundred forty million zlotys).The loanwill be granted in PLN. The interest rate is variable and is defined asthe sum of the base WIBOR O/N interest rate and the margin. The loanwill be repaid by June 30, 2022, with the possibility of concluding anannex for another period, which will depend on the situation on theinternational electricity market and TGE's liquidity needs.TGEwill be able to use the funds from the loan to the extent required bythe market situation. The purpose of the loan is to finance VAT ontransactions in electricity on the international market. The use of theloan will depend on the direction of trade on the Day-Ahead Market. TGEneeded to raise funding due to different VAT rules applicable tointernational and domestic transactions, where VAT reverse charge onlyapplies to the former. Financing is necessary in the period from thepayment of VAT in domestic transactions to the return of the input VATfrom the tax office. The economic and financial condition of TGE is verygood, the profitability of the remains at a very high level.TGEis 100% owned by the Warsaw Stock Exchange. TGE is a member of the GPWGroup.Legal basis: Article 17(1) of Regulation (EU) No 596/2014of the European Parliament and of the Council of 16 April 2014 on marketabuse (market abuse regulation) and repealing Directive 2003/6/EC of theEuropean Parliament and of the Council and Commission Directives2003/124/EC, 2003/125/EC and 2004/72/EC (EU Official Journal L No. 173)("MAR")