GPW - Giełda Papierów Wartościowych w Warszawie S.A.

Notice of Dividend Amount • May 20, 2016

Current Report No. 15/2016Date: 20 May 2016Topic: Proposal ofthe GPW Management Board to the GPW Supervisory Board to provide opinionregarding proposed distribution of profit for 2015 and change of theWarsaw Stock Exchange dividend policyLegal basis: Article 56.1(1) ofthe Act on Offering - inside informationContent:TheManagement Board of the Warsaw Stock Exchange ("GPW", "Company","Exchange") reports that it intends to seek the opinion of the GPWSupervisory Board on a profit distribution proposal for the financialyear 2015, which provides for the payment of dividend of PLN99,053,920.00 (in words: ninety nine million fifty three thousand ninehundred twenty zlotys), which is equivalent to PLN 2.36 (in words: twozlotys thirty six grosz) per share and represents 80.11% of theconsolidated net profit of the Company for the financial year 2015,attributable to the shareholders of GPW.This proposal follows fromthe modified dividend policy of the Company, as presented below, andincludes in particular investment needs related to the implementation ofthe GPW Group's strategy as well as measures in support of thedevelopment of Poland's capital market infrastructure.Decisionsconcerning profit distribution and dividend payments fall within theexclusive competence of the General Shareholders Meeting.Simultaneously,the Management Board of the Exchange informs that on 20 May 2016, itadopted a resolution amending GPW's dividend policy. The Companypresents below the content of the new policy which applies starting withthe distribution of the profit for the financial year 2015:"It isthe intention of the GPW Management Board to recommend to the GeneralMeeting a dividend payment according to the profitability and financialcapacity of GPW, at a level exceeding 60% of the consolidated net profitof the GPW Group for the financial year attributable to the shareholdersof GPW, adjusted for the share of profit of associates. The dividendwill be paid annually after the General Meeting approves the financialstatements of the Company.When deciding the amount of dividend to berecommended at each time to the General Meeting, the GPW ManagementBoard will at each time take into account among others the followingpertinent factors:- investment needs derived from the implementationof the GPW Group's strategy,- the needs to take measuresnecessary to develop Poland's capital market infrastructure,-dividend yield and dividend payout rate of other peer companies,-liquidity needs of the GPW Group depending on current and expectedmarket and regulatory conditions, current operating expenses and debtservice, and optimisation of the structure of financing of the GPWGroup."Legal basis: Article 56.1(1,2) of the Act of 29July 2005 on Public Offering, Conditions Governing the Introduction ofFinancial Instruments to Organised Trading, and Public Companies and §38.1(11) of the Regulation of the Minister of Finance of 19 February2009 on current and periodic information provided by issuers ofsecurities and on conditions under which information required by legalregulations of a third country may be recognised as equivalent.