Benefit Systems S.A.

Capital/Financing Update • Nov 21, 2018

Loan agreement within Benefit Systems' capital group

The Management Board of Benefit Systems S.A. with its registered seat inWarsaw (hereinafter, the "Issuer") informs that on 21 November 2018 aloan agreement in the amount of PLN 10.0 million was concluded ("Loanagreement") between the Issuer ("Lender") and Fitness Management sp. zo.o. with its registered seat in Warsaw ("Borrower"). Fit Invest sp.o.o., in which the Issuer directly holds a 100% stake, is the onlyshareholder of the Borrower. As a result of this agreement the totalvalue of loans concluded between the Lender and the Borrower in the last12 months has reached PLN 35.2 million.

The loan amount may be distributed in tranches in accordance with theBorrower's needs. The interest rate on the loan is floating and wasdetermined on market terms. The loan is to be repaid by 31 December2024. The loan agreement does not include any conditions precedent,conditions subsequent and contractual penalties. Other terms of the LoanAgreement do not differ from those commonly used in this type ofagreements.

The loan will enable the Borrower to finance its current operations,including investment activities in the fitness segment.