CD Projekt — Major Shareholding Notification 2021

Jan 15, 2021

Date:22 October 2015 ESMA/2015/1597

Standard form for notification of major holdings

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the competent authority)ⁱ 1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attachedii: 3. Details of person subject to the notification obligationiv : Name: Morgan Stanley City and country of registered office (if applicable):

CD PROJEKT S.A.

[ ] 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)iii:

5. Date on which the threshold was crossed or reachedvi:

2.		Reason for the notification (please tick the appropriate box or boxes):
		Wilmington, Delaware, USA
4. Full name of shareholder(s)		(if different from 3.)v:
5. Date on which the threshold was		crossed or reachedvi:
08/01/2021
6. Total positions		of person(s) 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.B.1 + 7.B.2)	Total of both in % (7.A + 7.B)	Total number of voting rights of is suervii
Resulting situation on the date on which threshold was crossed or reached	0.18%	4.87%	5.05%	100,654,624

7. Notified details of the resulting situation on the date on which the threshold was crossed or reachedviii:

A: Voting rights attached to shares

7. Notified details reachedviii:	of the resulting situation on		the date on which the threshold was crossed or
A: Voting rights attached to shares
Class/type of shares	Number of voting rightsix		% 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		177,111		0.18%
SUBTOTAL A		177,111		0.18%
B 1: Financial Instruments		according to Art. 13(1)(a) of Directive 2004/109/EC
Type of financial in strument	Expiration datex	Exercise/ Conversion Periodxi	Number of voting rights that may be acquired if the instrument is exer cised/ converted.	% of voting rights
Right of Recall over a securities lending agreement	At any time	At any time	2,644,924	2.63%

strument	Expiration datex	Exercise/		cised/ converted.
Right of Recall over a securities lending agreement	At any time
		SUBTOTAL B.1		2,644,924	2.63%
B 2: Financial Instruments 2004/109/EC				with similar economic effect according to Art. 13(1)(b) of Directive
Type of financial instrument	Expiration datex	Exercise/ Conversion Pe riod xi	Physical or cash settlementxii	Number of voting rights	% of voting rights
Equity Swap	2021-09-17	At any time	Cash	15,100	0.02%
Equity Swap	2021-12-20	At any time	Cash	598	0.001%
Equity Swap	2022-05-27	At any time	Cash	470	0.0005%

				cised/ converted.
Right of Recall over a securities lending agreement	At any time
B 2: Financial Instruments 2004/109/EC Type of financial	Expiration datex	with similar economic effect according to Art. 13(1)(b) of Directive Exercise/ Conversion Pe	Physical or cash settlementxii	Number of
instrument Equity Swap	2021-09-17	riod xi At any time	Cash	15,100	0.02%
Equity Swap	2021-12-20	At any time	Cash	598	0.001%
Equity Swap	2022-05-27	At any time	Cash	470	0.0005%
Equity Swap	2022-07-11	At any time	Cash	1,440,538	1.43%

Equity Swap 2024-01-16 At any time Cash 28,000 Equity Swap 2024-08-19 At any time Cash 35,874 Equity Swap 2030-09-18 At any time Cash 300,000 Equity Swap 2030-12-10 At any time Cash 110,579 Equity Swap 2030-12-18 At any time Cash 20,000 Retail Struc 2069-05-29 At any time Cash 88 tured Product Retail Struc 2070-04-15 At any tme Cash 4 tured Product Retail Struc 2070-12-14 At any time Cash 20 tured Product SUBTOTAL B.2 2,260,361 8. Information in relation to the person subject to the notification obligation (please tick the applica ble box): [ ] Person subject to the notification obligation is not controlled by any natural person or legal en tity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer.xiii [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 le gal entityxiv:
Equity Swap 2022-12-19 At any time Cash 14,126
Equity Swap 2022-12-16 At any time Cash 191,431
Equity Swap 2022-12-12 At any time Cash 42,178
Equity Swap 2022-12-07 At any time Cash 6,021

Namexv	% of voting rights if it equals or is higher than the notifiable threshold	% of voting rights through financial in struments if it equals or is higher than the notifiable threshold	Total of both if it equals or is higher than the notifiable threshold
Morgan Stanley
Morgan Stanley Capital
Management, LLC
Morgan Stanley Domes
tic Holdings, Inc.

Morgan Stanley Capital Services LLC
Morgan Stanley
Morgan Stanley Capital
Management, LLC Morgan Stanley Domes
tic Holdings, Inc.
Morgan Stanley & Co. LLC
Morgan Stanley
Morgan Stanley Interna tional Holdings Inc.
Morgan Stanley Interna tional Limited
Morgan Stanley Invest ments (UK)
Morgan Stanley & Co. International plc
Morgan Stanley
Morgan Stanley Capital Management, LLC
Morgan Stanley Domes tic Holdings, Inc.
E*TRADE
Financial Holdings, LLC
ETCM Holdings, LLC
E*TRADE Securities LLC

9. In case of proxy voting: [name of the proxy holder] will cease to hold [% and number] voting rights as of [date]

10. Additional informationxvi:

Of the total voting rights attached to shares in Section 7A, 177,111 (0.18%) of these are the result of stock borrowing agreements.

Done at Glasgow on 14/01/2021.