Korporacja Gosporadcza Effekt S.A.

Share Issue/Capital Change • Jan 13, 2020

Determinationby the Management Board of the issue price of EE series ordinary bearershares.

Notfor release, publication or distribution directly or indirectly, inorinto the United States of America, Australia, Canada, Japan or in anyother jurisdiction where to do so would be restricted or prohibited bylaw.Furtherto the reports No. 48/2019 of December 24, 2020 and No. 42/2019 ofNovember 26, 2019, the Management Board of Korporacja Gospodarcza'Efekt' S.A. with its registered office in Kraków ("Issuer, Company")hereby informs that as part of activities aimed at implementingResolution No. 5 of the Extraordinary General Meeting of the Corporation"Economic" S.A. with its registered office in Kraków, entered into theRegister of Entrepreneurs of the National Court Register under thenumber KRS 0000115403 of 23.12.2019 regarding the increase of theCompany's share capital by issuing EE series shares with pre-emptiverights to existing shareholders, dematerialization and applying foradmission and introduction of EE series shares and rights to EE seriesshares to trading on the regulated market operated by the Warsaw StockExchange ("Resolution on the increase in share capital") adoptedyesterday a resolution regarding the issue price of EE series shares. Byvirtue of the provisions of the Resolution, the Management Board of theCompany determined the issue price of EE series shares at PLN 1.00 (inwords: one zloty).

SeriesEE shares will be offered in the form of a closed subscription asdefined in art. 431 § 2 point 2 of the Commercial Companies Code, havingthe nature of a public offer within the meaning of the Act of 25 July2005 on public offerings and conditions governing the introduction offinancial instruments to organized trading, and on public companies.

Thepurpose of the issue is to increase the liquidity of shares listed onthe WSE, the turnover of which is currently low liquidity, and inaddition the funds obtained from the issue will be allocated to thecurrent business of the Company.

TheCompany's Management Board will keep the market informed through currentreports regarding further progress in the implementation of activitiesaimed at implementing the Issue Resolution.LegalbasisArticle17, item 1 of Regulation (EU) No. 596/2014 of the EuropeanParliamentand of the Council of 16 April 2014 on market abuse (marketabuseregulation) and repealing Directive 2003/6/EC of the EuropeanParliamentand of the Council and Commission Directives 2003/124/EC, 2003/125/ECand 2004/72/EC.Disclaimer:Thiscurrent report has been prepared pursuant to the requirements of art. 17clause 1 of Regulation (EU) No 596/2014 of the European Parliament andof the Council of 16 April 2014 on market abuse and repealing Directive2003/6 / EC of the European Parliament and of the Council and CommissionDirective 2003/124 / EC, 2003/125 / EC and 2004/72 / EC.