Polski Holding Nieruchomości S.A.

Board/Management Information • Jun 10, 2016

Current report No. 15/2016 of June 10, 2016

Changes to the composition of the Company’s Management Board

Legal basis (selected in ESPI): Article 56.1.2 of the Act on PublicOffering – current and periodical information

The Management Board of Polski Holding Nieruchomości S.A. (the “Company”or “Issuer”) hereby informs that under resolutions adopted on June 10,2016, the Supervisory Board appointed: Marcin Marcinkiewicz, PhD for theposition of Member of the Management Board for Investment as of June 14,2016.

Marcin Marcinkiewicz is an advocate and has a PhD in Legal Studies witha specialization in Administrative Law. He also completed a postgraduatecourse in Management at the Warsaw School of Economics. He is a graduateof the Faculty of Law and Administration of the University of Warsaw,Centre for Italian and European Legal Studies, and Center for AmericanLaw Studies of the University of Warsaw. From 2015 to June 2016, Mr.Marcinkiewicz worked at the position of Investment DepartmentCoordinator at PROFBUD, where his responsibilities included coordinatingand managing the works of the Investment Department of the PROFBUDGroup, developing new investment projects and preparing investmentstrategies. In 2014–2015, he worked as Senior Officer at the Luxembourgbranch of the consulting company Deloitte. In 2013–2014, he was Advisorto the President of the City of Białystok for Key Projects. Mr.Marcinkiewicz has cooperated with renowned law firms: SQLEGAL in2012–2014, SALANS (currently DENTONS) in 2011–2012, and Weil, Gotshal &Manges in 2009–2011.

Mr. Marcinkiewicz declared that starting from the day of commencing hiswork, he will have no conflicts of interests, he will carry out nocompetitive business outside the Company and he will conduct noactivities at the Company’s competitors, as member of governing bodiesof a company or as a shareholder in a civil law partnership or otherpartnership, and he will not participate in the activities of anycompetitive incorporated entity as a member of its governing body. MrMarcinkiewicz also declared that he is not entered into the Register ofInsolvent Debtors, maintained under the National Court Register Act ofAugust 20, 1997 (Journal of Laws of 2007 No. 168, item 1186, as amended).

Legal basis: Article 5.1.22 and Article 28 of the Regulation ofMinister of Finance of February 19, 2009 on current and periodicinformation published by issuers of securities and the conditions ofrecognizing information required by the regulations of non-member statesas equivalent.