GPW - Giełda Papierów Wartościowych w Warszawie S.A.

Notice of Dividend Amount • May 18, 2021

Current Report No. 10/2021Date: 18 May 2021Topic: Opinion of theExchange Supervisory Board on the distribution of the Company's profitfor 2020 proposed by the GPW Management BoardLegal basis: Article17(1) of MAR - inside informationContent:Further toCurrent Report No. 8/2021 of 29 April 2021, the Warsaw Stock Exchange("Exchange", "GPW", "Company") hereby announces that on 18 May 2021 theExchange Supervisory Board has issued a positive opinion on the motionof the Exchange Management Board concerning the distribution of theprofit for the financial year 2020 which provides for the payment of adividend of PLN 104,930,000.00 (in words: one hundred and four millionnine hundred thirty thousand zlotys).The proposed dividendpayment of PLN 104,930,000.00 implies a dividend of PLN 2.50 per share.The dividend payout ratio will be 69.3% of the consolidated profit(77.3% of the net profit attributable to the shareholders of the parententity adjusted for the share of profit of associates) and the dividendyield will be 5.36% based on GPW's capitalisation as at 20 April 2021.Therecommendation of the Exchange Management Board and the opinion of theExchange Supervisory Board on that matter are in line with GPW'sdividend policy, published in the Current Report No. 4/2019, whichprovides for the payment of dividend, depending on the profitability andfinancial capacity of GPW, above 60% of the consolidated net profit ofthe GPW Group of the financial year attributable to the shareholders ofGPW adjusted for the share of profit of associates. At the same time,the intention of the GPW Management Board is to recommend to the GeneralMeeting increase of yearly dividend from profit for 2020-2022, not lessthan PLN 0.1 per share.In issuing a positive opinion on theproposal of the Exchange Management Board concerning the proposeddividend amount, the Exchange Supervisory Board has taken intoconsideration among others the following material factors indicated bythe Exchange Management Board:• financial results reported bythe GPW Group in 2020;• Guidelines for Companies of the StateTreasury which Prepare Financial Statements for 2020, approved by theChancellery of the Prime Minister in September 2020;• consistentlyhigh return ratios in 2020: ROE (14.6%) and ROA (11.1%), consistentlyhigh current liquidity (4.9), high and growing financial resources, andno risk to the payment of debt (negative net debt);• investmentneeds derived from the implementation of the GPW Group's strategy #2022;•the dividend yield and the payout ratios used by comparable companies;•liquidity needs of the GPW Group depending on actual and expected marketand regulatory conditions, current operating expenses and debt service,and optimisation of the structure of financing of the GPW Group.•fees introduced by banks and low interest rates on deposits.TheGeneral Meeting is the Company's body exclusively competent to decideabout profit distributions, including dividend payments.Legalbasis: Article 17(1) of Regulation (EU) 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 Directives 2003/124/EC,2003/125/EC and 2004/72/EC (EU Official Journal L 173) ("MAR").