Ciech S.A.

Capital/Financing Update • May 5, 2021

With reference to CurrentReport No. 7/2021 of 16 March 2021 on the conclusion of the facilitiesagreement (the "New Facilities Agreement") and otheragreements related thereto, and Current Report No. 13/2021 of 26 April2021 on the fulfilment of the conditions precedent for the payment ofloans, the Management Board of CIECH S.A. (the "Company", "Issuer")herewith informs that on 5.05.2021, the entire amount was paid under:

1.amortised A termloan (repaid in instalments) - in the amount equivalent to PLN 560.0million, and

2.non-amortised Bterm loan (repaid on the final repayment date) - in the amountequivalent to PLN 1,305.0 million,

(hereinafter jointly referredto as "Term Loans"), in the amount of PLN 1,865.0 million.

On 5.05.2021, the funds fromthe disbursement of the Term Loans in the amount of PLN 1 856,9 million,were allocated to the repayment of the financial debt of the Issuer'sGroup (the "Financial Debt"), extended in the form of:

1.bilateral loansextended on the basis of loan agreements of 18.04.2019, with a totalvalue of PLN 507,1 million, the conclusion of which was advised by theCompany in its Current Report No. 13/2019 of 18.04.2019; and

2.syndicated loanswith a total value of PLN 1 349,8 million ("Syndicated Loans"),extended on the basis of a loan agreement of 29 October 2015 (the "RefinancedSyndicated Loan Agreement"), the conclusion of which was advised bythe Company in its Current Report No. 38/2015 of 30.10.2015, as amendedby the annex of 9.01.2018, the execution of which was announced by theCompany in its Current Report No. 1/2018 of 9.01.2018.

The Refinanced Syndicated LoanAgreement, including Syndicated Loans and the revolving credit facilityunused by the Issuer in the amount of PLN 250 million, was terminated on5.05.2021.

The remaining reimbursed amountof the Term Loans and the amount of the revolving credit facility,extended under the New Facilities Agreement, will be used to financerefinancing expenses, interest on the refinanced Financial Debt and tofinance general corporate objectives of the Company and its selectedsubsidiaries.

Legal basis: Article 17.1 of the Regulation of theEuropean Parliament and of the Council (EU) No 596/2014 of 16 April 2014on Market Abuse (the Market Abuse Regulation) and repealing Directive2003/6/EC of the European Parliament and of the Council and CommissionDirectives 2003/124/EC, 2003/125/EC and 2004/72/EC (Official Journal ofthe European Union L No 173, p. 1).