Photon Energy N.V.

Transaction in Own Shares • Oct 17, 2018

The Management Board of Photon Energy N.V. informs that,

- on 8 October 2018, Photon Energy N.V. purchased 4,089 Photon Energy N.V. shares at a price of PLN 1.80 per share,

- on 8 October 2018, Photon Energy N.V. purchased 1,143 Photon Energy N.V. shares at a price of PLN 1.75 per share,

- on 8 October 2018, Photon Energy N.V. purchased 4,913 Photon Energy N.V. shares at a price of PLN 1.66 per share,

- on 9 October 2018, Photon Energy N.V. purchased 3,796 Photon Energy N.V. shares at a price of PLN 1.80 per share,

- on 15 October 2018, Photon Energy N.V. purchased 5,500 Photon Energy N.V. shares at a price of PLN 1.77 per share.

The total amount of the notified transactions is PLN 34,084 (EUR 7,916). Prior to the conclusion of the above mentioned transactions, Photon Energy N.V. held 8,833,500 shares in the Company, which accounted for 14.72 % of the Company’s share capital and carried no rights to vote at the Company’s general meeting of shareholders. As from 15 October 2018, Photon Energy N.V. holds 8,852,941 shares, which account for 14.75% of the Company’s share capital and carry no rights to vote at the Company’s general meeting of shareholders.