CD Projekt — Major Shareholding Notification 2021

Dec 23, 2021

C~~ European Securities and ~ Markets Authority

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Standard form for notification of major holdings

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the competent authority)

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached~~;

CD PROJEKT S.A.

1. Reason for the notification (please tick the appropriate box or boxes): _

[ ] An acquisition or disposal of voting rights [x] An acquisition or disposal of financial instruments [] An event changing the breakdown of voting rights

[]Other (please specify)~~~:

3. Details of person subject to the notification obligation~~

Name: City and country of registered office (ifi applicable): The Goldman Sachs Group, Inc. Corporation Trust Center, 1209 Orange Street, Wilmington DE 19801, USA

1. Full name of shareholders) (if different from 3.)~:

2. Date on which the threshold was crossed or reached~~: 17/12/2021

6. Total positions of persons) subject to the notification obligation:

	of voting rights at- tached to shares (to- tal of 7.A)	of voting rights through financial instru- ments total of 7.6.1 + 7.B.2	Total of both in (7.A + 7.B)	Total number of voting rights of is suerv~~
Resulting situation on the date on which threshold was	0.53%	6.26 /0	6.80 °/0	100,738,800
crossed or reached Position of previous
notification (if appli- cable	0.46%	4.57%	5.03%

7. Notified details of the resulting situation on the date on which the threshold was crossed or reached°~~~;

Class/type of shares	Number of voting rights~x		% of voting rights
ISIN code (if possi ble)	Direct (Art 9 of Directive 2004/109/EC	Indirect (Art 10 of Directive 2004/109/EC	Direct (Art 9 of Directive 2004/109/EC	Indirect (Art 10 of Directive 2004/109/EC
PLOPTTC00011		537,732		0.53%
US1251051066		201		0.0002%
SUBTOTAL A		537,933	0.53%

Type of financial in strument	Expiration datex	Exercise/ Conversion PeriodX~	Number of voting rights that may be acquired if the instrument is exer cised/ converted.	off, of voting rights
Securities Lending	Open		2,084,128	2.07%
		SUBTOTAL B.1	2,084,128	2.07%

Type of financial instrument	Expiration date%	Exercise/ Conversion Pe riod xi	physical or cash settlementx~~	Number of voting rights	% of voting rights
Swap	01/12/2025		Cash	648,083	0.64%
Swap	01/12/2025		Cash	644,761	0.64%
Swap	16/04/2031		Cash	440,105	0.44%
Swap	10/11/2031		Cash	232,577	0.23%
Swap	30/10/2030		Cash	138,024	0.14%
Swap	15/12/2025		Cash	109,773	0.11

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Swap	15/12/2025	Cash	109,210	0.11
Swap	02/12/2025	Cash	106,601	0.11
Swap	02/12/2025	Cash	106,055	0.11
Swap	17/03/2031	Cash	106,038	0.11
Swap	10/11/2031	Cash	105,639	0.10°/o
Swap	03/02/2031	Cash	99,595	0.10%
Swap	24/02f2022	Cash	97,963 '	0.10%
Swap	01/12/2031	Cash	86,357	0.09%
Swap	06/10/2031	Cash	68,348	0.07%
Swap	01 /10/2031	Cash	67,247	0.07%
Swap	16/04/2031	Cash	65,140	0.06%
Swap	13/10/2031	Cash	62,911	0.06%
Swap	11/03/2024	Cash	59,649	0.06%
Swap	10/11/2031	Cash	50,935	0.05%
Swap	11/03/2024	Cash	45,729	0.05%
Swap	08/12/2025	Cash	44,579	0.04%
Swap	08/12/2025	Cash	44,350	0.04%
Swap	11/03/2024	Cash	34,623	0.03%
Swap	11/03/2024	Cash	28,851	0.03%
Swap	29/01 /2030	Cash	28,133	0.03%
Swap	11/03/2024	Cash	26,543	0.03%
Swap	18/03/2024	Cash	26,112	0.03%
Swap	26/03/2024	Cash	21,634	0.02%
Swap	27/10/2025	Cash	21,450	0.02%
Swap	04/11/2024	Cash	20,253	0.02%
Swap	07/05/2024	Cash	20,098	0.02%

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Swap	11/03/2024		Cash	16,746	0.02%
Swap	10/04/2024		Cash	15,752	0.02%
Swap	18/03/2024		Cash	15,157	0.02%
Swap	13/05/2024		Cash	14,137	0.01%
Swap	11/03/2024		Cash	12,866	0.01%
Swap	26/03/2024		Cash	12,559	0.01
Swap	11 /03/2024		Cash	11,513	0.01
Swap	07/05/2024		Cash	11,504	0.01
Swap.,	11/03/2024		Cash .	10,925	0.01
Swap	27/05/2024		Cash	10,918	0.01
Swap	03/12/2031		Cash	10,002	0.01
Swap	11/04/2024		Cash	9,911	0.01%
Swap-=	11/03/2024		Cash	9,863	0.01%
Swap	02/01/2025		Cash	9,676	0.01%
Swap	04/11/202.4		Cash	8,932	.0.01
Swap	11/03/2024		Cash	8,827	0.01%
Swap	11/03/2024		Cash	8,376	0.01%
Swap	13/05/2024	~	Cash	8,068	0.01
Swap	04/08/2031		Cash	7,690	0.01
Swap	10/04/2024		Cash	7,410	0.01
Swap	09/05/2024		Cash	6,863	0.01
Swap	04/11/2024		Cash	6,690	0.01%
Swap	11/03/2024		Cash	6,223	0.01%
Swap	27/05/2024		Cash	6,190	0.01
Swap	07/01/2031		Cash	6,001	0.01
Swap	10/03/2031		Cash	6,001	0.01

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Swap	03/12/2031	Cash	6,001	0.01
Swap	11/04/2024	Cash	5,753	0.01%
Swap	18/03/2024	Cash	5,632	0.01
Swap	11/03/2024	Cash --	5,569	0.01%
Swap	11/03/2024	Cash	5,285	0.01%
Swap _	01/10/2031	Cash	5,093	0.01%
Swap	18/03/2024	Gash	5,040	0.01
Swap	10/03/2031	Cash	5,001	0.005%
Swap	18/03/2024	Cash	4,782	0.005%
Swap	26/03/2024	Cash	4,667	0.005%
Swap	10/04/2024	Cash	4,664	0.005%
Swap	07/05/2024	Cash	4,429	0.004%
Swap	29/01/2030	Cash	4,426	0.004%
Swap	27/05/2024	Cash	4,382	0.004%
Swap	07/05/2024	Cash	4,204	0.004%
Swap	26/03/2024	Cash	4,176	0.004%
Swap	10/04/2024	Cash	4,140	0.004%
Swap	26/03/2024	Cash	4,017	0.004%
Swap	09/12/2030	Cash	4,001	0.004%
Swap	03/09/2031	Cash	4,001	0.004%
Swap	09/05/2024	Cash	3,916	0.004%
Swap	23/12/2022	Cash	3,500	0.003%
Swap	15/10/2031	Cash	3,359	0.003%
Swap	15/03/2024	Cash	3,328	0.003%
Swap	13/05/2024	Cash	3,101	0.003%
Swap	04/08/2031	Cash	3,041	0.003%

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Swap	09/12/2030	Cash	3,000	0.003%
Swap	07/01/2031	Cash	3,000	0.003%
Swap	13/05/2024	Cash	2,951	0.003%
Swap	18/12/2023	Cash	2,500	0.002%0 ._
Swap	02/01/2025	Cash	2,417	0.002%
Swap	11 /04/2024	Cash	2,138	0.002%
Swap	13/01/2031	Cash	2,000	0.002%
Swap	13/01/2031	Cash	2,000	0.002%
Swap	20/01/2031	Cash	2,000	0.002% -
Swap	20/01/2031	Cash	2,000	0.002%
Swap	04/02/2031	Cash	2,000	A.002%
Swap	04/02/2031	Cash	2,000	0.002%
Swap	10/02/2031	Cash	2,000	0.002%
Swap	10/02/2031	Cash	2,000	0.002%
Swap	24/02/2031	Cash	2,000 ~	0.002%
Swap	03/03/2031	Cash	2,000	0.002%
Swap	12/03/2031 ~	Cash	2,000	0:002% -
Swap	12/03/2031	Cash	2,000	0.002% -
Swap	12/03/2031	Cash	2,000	0.002%
Swap	24/03/2031	Cash	2,000	0.002%
Swap	24/03/2031	Cash	2,000	0.002%
Swap	25/03/2031	Cash	2,000	0.002%
Swap	25/03/2031	Cash	2,000	0.002%
Swap	31/03/2031	Cash	2,000	0.002%
Swap	31/03/2031	Cash	2,000	0.002%
Swap	15/03/2024	Cash	1,932	0.002%

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Swap	11/04/2024	Cash	1,913	0.002% ~
Swap	04/11/2024	Cash	1,574	0.002%
Swap	02/01/2025	Cash	1,522	0.002%
Swap	02/05/2024	Cash	1,495	0.001
Swap	09/05/2024	Cash	1,433	0.001
Swap	29/01 /2030	Cash	1,292	0.001
Swap	20/09/2022	Cash	1,217	0.001
Swap	29/01 /2030	Cash	1,204	0.001
Swap	23/02/2023	Cash	1,120	0.001
Swap	04/08/2031	Cash	1,008	0.001
Swap	27/01/2031	Cash	1,000	0.001
Swap	27/01 /2031	Cash	1,000	0.001
Swap	28/01/2031	Cash	1,000	0.001%
Swap	28/01 /2031	Cash	1,000	0.001
Swap	03/03/2031	Cash	1,000	0.001
Swap	29/01/2030	Cash	952	0.001%
Swap	09/05/2024	Cash	878	0.001
Swap	08/11/2024	Cash	777	0.001%
Swap	15/03/2024	Cash	718	0.001
Swap	15/03/2024.	Cash	642	0.001
Swap	29/01/2030	Cash	623	0.001%
Swap	15/03/2024	Cash	610	0.001
Swap	23/12/2022	Cash	525	0.001
Swap	11/04/2024	Cash	362	0.0004%
Swap	07/10/2026	Cash	354	0.0004%
Swap	13/10/2031	Cash	345	0.0003%

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1. Information in relation to the person subject to the notification obligation (please tick the applicable box):

[]Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertakings) holding directly or indirectly an interest in the (underlying) issuer.x~~~

[x ]Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entityx~°;

Name	of voting rights if it equals or is higher than` the notifiable threshold	% of voting rights through financial instruments if it equals or is higher than the notifiable threshold	Total of both if it equals or is higher than the notifiable threshold
The Goldman Sachs Group, Inc.
Goldman Sachs (UK) L.L.C.
Goldman Sachs Group UK Limited
Goldman Sachs International
The Goldman Sachs Group, Inc.

,~

Goldman Sachs & Co. LLC
The Goldman Sachs Group, Inc.
GSAM Holdings LLC
Goldman Sachs Asset Management, L.P.
The Goldman Sachs Group, Inc.
Goldman Sachs Bank USA
Goldman Sachs Bank Europe SE
The Goldman Sachs Group, Inc.
I MD Holdings LLC
United Capital Financial Partners, I nc.
United Capital Financial Advisers, LLC

.._ ~ _.. . _.. _ <_ :: _._ -: r-

1. In case of proxy voting: [name of the proxy ho/der] will cease to hold [% and number] voting rights as of [dafe]

2. Additional informationx°~;

Please note, the total amount of voting rights have been rounded to 2 decimal places therefore there is a possibility of a rounding error.

General email contact: qs-regops-emea-position-enquiries @ gs.com

Done at Warsaw on 22/12/2021

.~~, ~~