Korporacja Gosporadcza Effekt S.A.

Capital/Financing Update • Jun 8, 2020

Supplement to the content of current report No.36/2019 of August 20, 2019 and current report No. 47/2019 of December18, 2019 and current report No. 16/2020 of April 21, 2020 in connectionwith the recommendations of the Polish Financial Supervision Authority

The Management Board of Korporacja Gospodarcza"Efekt" SA with its registered office in Krakow in order to maintainfull transparency of the Issuer in connection with the uncertaineconomic situation caused by the economic effects of the restrictionsintroduced as a consequence of the COVID-19 epidemic in Poland,including in the implementation of the recommendations of the PolishFinancial Supervision Authority, in addition to the content CurrentReport No. 36/2019 of August 20, 2019 and Current Report No. 47/2019 ofDecember 18, 2019 and Current Report No. 16/2020 of April 21, 2020,publicly announces that:

1. The type of debt security that is the subject ofthe agreement of August 20, 2019, the conclusion of which the Issuerinformed in current report number 36/2019 of August 20, 2019 is aninvestment promissory note.

2. The type of debt security that is the subject ofthe agreement of December 18, 2019, the conclusion of which the Issuerinformed in current report number 47/2019 of December 18, 2019 is alsoan investment promissory note.

3. The purpose of purchasing the above-mentioned debtsecurities was to obtain a higher interest rate on available funds, inrelation to the interest rate obtainable, for example, on bank depositsor under bonds;

4. Transactions covered respectively by the agreementof August 20, 2019, the conclusion of which the Issuer informed incurrent report number 36/2019 of August 20, 2019 and the agreement ofDecember 18, 2019, the conclusion of which the Issuer informed incurrent report number 47/2019 of December 18, 2019, taking into accountboth the property and economic situation of the other party to thetransactions existing on those dates, the revenues obtained by theIssuer and entities from the Issuer's Capital Group, as well aspotential economic risks, except for the effects of temporary investmentof funds in the acquired of the abovementioned agreements, investmentbills of exchange and the Issuer's obtaining a higher monthly interestrate on these funds did not significantly affect the financial andeconomic situation of the Issuer and the Issuer's Capital Group.

Legal basis: