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Benefit Systems S.A.

Business and Financial Review • Nov 11, 2019

5529_rns_2019-11-11_7e6a714a-64d5-43f6-bdf5-dc569efcbd22.html

Business and Financial Review

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Forecast of the financial results for 2019

Further to current report No. 19/2019 of 29 April 2019 (hereinafter, the"Report"), the Management Board of Benefit Systems S.A. with itsregistered seat in Warsaw (hereinafter, the "Company") hereby presents anew forecast of the financial results of the Capital Group of BenefitSystems for 2019.

On the basis of an analysis of the profits of the capital group of theCompany for the first three calendar quarters of 2019 and the markettrends as well as an update of the estimated cost savings, the Companyestimates that the consolidated operating profit (EBIT) in 2019 willrange between PLN 145 mln - PLN 155 mln, while the consolidatedoperating profit (EBIT) adjusted for the impact of IFRS 16 (Lease), willrange between PLN 130 mln - PLN 140 mln in 2019.

The Company indicates that the estimated impact of IFRS 16 (Leasing) onthe consolidated operating profit (EBIT) in 2019, has changed from PLN23mln estimated in the Report to PLN 15 mln currently.