Polski Holding Nieruchomości S.A.

Declaration of Voting Results & Voting Rights Announcements • Jul 21, 2016

Current report No. 23/2016 of July 21, 2016

List of shareholders with at least 5% of the total number of votes atthe Ordinary General Meeting of Shareholders of July 21, 2016

Legal basis: Article 70.3 of the Act on Public Offering - List ofshareholders with at least 5% of votes at the General Meeting ofShareholders

The Management Board of Polski Holding Nieruchomości S.A. (the"Company") hereby provides a list of shareholders with at least 5% ofthe total number of votes at the General Meeting of Shareholdersconvened for June 22, 2016 and continued on July 21, 2016:

1. THE TREASURY:

32,655,617 votes, which constituted 84.43% of votes at the GeneralMeeting and 69.89% of the total number of votes in the Company.

2. AVIVA OTWARTY FUNDUSZ EMERYTALNY AVIVA BZ WBK:

4,647,000 votes, which constituted 12.02% of votes at the GeneralMeeting and 9.95% of the total number of votes in the Company.

Legal basis: Article 70.3 of the Act on Public Offering, ConditionsGoverning the Introduction of Financial Instruments to OrganizedTrading, and Public Companies of July 29, 2005 (Journal of Laws of 2009,No. 185, item 1439).