Polski Holding Nieruchomości S.A.

Board/Management Information • Dec 5, 2016

Changes to the Composition of the Company's Supervisory Board

Current report No. 32/2016 of December 5, 2016

Legal basis: Article 17.1 of MAR - confidential information

The Management Board of Polski Holding Nieruchomości S.A. (the"Company") hereby informs that on December 5, 2016, the ExtraordinaryGeneral Meeting of Shareholders dismissed Mr. Jacek Chwalenia, Mr.Oliwer Koszowski and Mr. Bartłomiej Prus and appointed:

1. Ms. Agnieszka Zielińska-Kułaga,2. Mr. Damian Kocot,3.Mr. Jarosław Olejniczak,

as Members of the Supervisory Board.

Ms. Agnieszka Zielińska-Kułaga is a graduate of the Faculty of Law andAdministration of the University of Gdańsk. In 1996 she passed a judge'sexam before the Examination Committee of the Ministry of Justice inWarsaw, and in 1998 she passed a legal adviser's exam at the DistrictChamber of Legal Advisers in Gdańsk. She has also completed postgraduatestudies in Banking and Financial Innovations at WSB Universities inGdańsk. She is Vice-President of the Management Board of TowarzystwoZarządzające SKOK Sp. z o.o., and Secretary of the Supervisory Board ofe-Card S.A. In 2003-2015, she was Secretary of the Supervisory Board ofTowarzystwo Funduszy Inwestycyjnych Spółdzielczych KasOszczędnościowo-Kredytowych S.A.

Ms. Zielińska-Kułaga has declared that she has full capacity to performlegal transactions, complies with the restrictions and bans onperforming functions at companies' governing bodies and bans oncompetition, resulting from legal regulations, and has not beenconvicted of any of the offences listed in Chapters XXXIII-XXXVII of theCivil Code Act of June 6, 1997 (Journal of Laws of 1997 No. 88, item553, as amended) and in Article 587, 590 and 591 of the CommercialCompanies Code Act of September 15, 2000 (Journal of Laws of 2013, item1030, as amended).

Mr. Damian Kocot has a PhD in Economics from the University of Economicsin Katowice. He also has a Master's degree in Finance and Banking fromthe University of Economics in Katowice. Since 2014, he worked as anAssistant Professor at the University of Management and Administrationin Opole, and since 2015, he is an Assistant Professor at the SocialAcademy of Sciences in Łódź. In 2005-2011, he cooperated with, amongothers, Górnośląska Agencja Rozwoju Regionalnego S.A. He hasparticipated in numerous training courses both as a participant and as acoach, adviser and expert, and has authored numerous academicpublications.

Mr. Kocot has declared that he has full capacity to perform legaltransactions, complies with the restrictions and bans on performingfunctions at companies' governing bodies and bans on competition,resulting from legal regulations, and has not been convicted of any ofthe offences listed in Chapters XXXIII-XXXVII of the Civil Code Act ofJune 6, 1997 (Journal of Laws of 1997 No. 88, item 553, as amended) andin Article 587, 590 and 591 of the Commercial Companies Code Act ofSeptember 15, 2000 (Journal of Laws of 2013, item 1030, as amended).

Mr. Jarosław Olejniczak has a PhD in Economics and a Master's degreefrom the Faculty of Finance and Statistics of the Warsaw School ofEconomics. He is Head of the IT Management Systems Unit at the ITSystems Institute of the Military University of Technology, where heworks as an Assistant Professor. He is also a lecturer at the Institutefor IT and Digital Economy at the Warsaw School of Economics. In2004-2011, he was Head of the IT Systems Unit at the Department ofBusiness Informatics. In 2007-2009, he provided expert services for PKPCARGO S.A., and in 1991-2001, he cooperated with Oracle Polska Sp. zo.o. He is a member of the Scientific Society of Business Informatics(NTIE) and Polish Association for Information Systems.

Mr. Olejniczak has declared that he has full capacity to perform legaltransactions, complies with the restrictions and bans on performingfunctions at companies' governing bodies and bans on competition,resulting from legal regulations, and has not been convicted of any ofthe offences listed in Chapters XXXIII-XXXVII of the Civil Code Act ofJune 6, 1997 (Journal of Laws of 1997 No. 88, item 553, as amended) andin Article 587, 590 and 591 of the Commercial Companies Code Act ofSeptember 15, 2000 (Journal of Laws of 2013, item 1030, as amended).

Legal basis: Article 17.1 of MAR - confidential information