Photon Energy N.V.

Transaction in Own Shares • Oct 3, 2018

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

- on 26 September 2018, Photon Energy N.V. purchased 1,667 Photon Energy N.V. shares at a price of PLN 1.50 per share,

- on 26 September 2018, Photon Energy N.V. purchased 1,000 Photon Energy N.V. shares at a price of PLN 1.51 per share,

- on 26 September 2018, Photon Energy N.V. purchased 1,000 Photon Energy N.V. shares at a price of PLN 1.52 per share,

- on 26 September 2018, Photon Energy N.V. purchased 1,000 Photon Energy N.V. shares at a price of PLN 1.53 per share,

- on 26 September 2018, Photon Energy N.V. purchased 2,788 Photon Energy N.V. shares at a price of PLN 1.54 per share,

- on 26 September 2018, Photon Energy N.V. purchased 11,802 Photon Energy N.V. shares at a price of PLN 1.55 per share,

- on 27 September 2018, Photon Energy N.V. purchased 3,500 Photon Energy N.V. shares at a price of PLN 1.50 per share,

- on 27 September 2018, Photon Energy N.V. purchased 17,239 Photon Energy N.V. shares at a price of PLN 1.55 per share,

- on 27 September 2018, Photon Energy N.V. purchased 3,997 Photon Energy N.V. shares at a price of PLN 1.57 per share,

- on 27 September 2018, Photon Energy N.V. purchased 1,224 Photon Energy N.V. shares at a price of PLN 1.58 per share,

- on 27 September 2018, Photon Energy N.V. purchased 1,125 Photon Energy N.V. shares at a price of PLN 1.59 per share,

- on 27 September 2018, Photon Energy N.V. purchased 17,625 Photon Energy N.V. shares at a price of PLN 1.60 per share,

- on 27 September 2018, Photon Energy N.V. purchased 17,625 Photon Energy N.V. shares at a price of PLN 1.60 per share,

- on 2 October 2018, Photon Energy N.V. purchased 2,000 Photon Energy N.V. shares at a price of PLN 1.60 per share,

- on 3 October 2018, Photon Energy N.V. purchased 1,583 Photon Energy N.V. shares at a price of PLN 1.61 per share,

- on 3 October 2018, Photon Energy N.V. purchased 5,950 Photon Energy N.V. shares at a price of PLN 1.63 per share.

The total amount of the notified transactions is PLN 115,263 (EUR 26,925).

Prior to the conclusion of the above mentioned transactions, Photon Energy N.V. held 8,760,000 shares in the Company, which accounted for 14.60 % of the Company’s share capital and carried no rights to vote at the Company’s general meeting of shareholders.

As from 3 October 2018, Photon Energy N.V. holds 8,833,500 shares, which account for 14.72% of the Company’s share capital and carry no rights to vote at the Company’s general meeting of shareholders.