CD Projekt — Major Shareholding Notification 2021

Jan 11, 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:

CD PROJEKT S.A.

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

[ ] An acquisition or disposal of voting rights

[ ] An acquisition or disposal of financial instruments

[ ] An event changing the breakdown of voting rights

[X] Other (please specify) iii: Notification is triggered due to the non-application of the Trading Book Exemption which is available under Article 90.1g of the Act on Public Offerings following the UK leaving the EU

3. Details of person subject to the notification obligationiv :

Name:

Morgan Stanley

City and country of registered office (if applicable): Wilmington, Delaware, USA

4. Full name of shareholder(s) (if different from 3.)^v :

5. Date on which the threshold was crossed or reachedvi: 01/01/2021

6. Total positions of person(s) subject to the notification obligation:

	% of voting rights attached to shares (total of 7.A)	% of voting rights through financial in struments (total of 7.B.1 + 7.B.2)	Total of both in % (7.A + 7.B)	Total number of voting rights of issuer vii
Resulting situation on the date on which threshold was crossed or reached	0.46%	4.65%	5.11%	100,654,624
Position of previous notification (if appli cable)	n/a	n/a	n/a

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

A: Voting rights attached to shares
Class/type of shares ISIN code (if possi ble)	Number of voting rights ix		% of voting rights
	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		461,174		0.46%
SUBTOTAL A		461,174		0.46%

B 1: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC
Type of financial instrument	Expiration date x	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	2,654,594	2.64%
		SUBTOTAL B.1	2,654,594	2.64%

B 2: Financial Instruments with similar economic effect according to Art. 13(1)(b) of Directive 2004/109/EC
Type of financial instrument	Expiration date x	Exercise/ Conversion Period x i	Physical or cash settlement xii	Number of voting rights	% of voting rights
Equity Swap	20/12/2021	At any time	Cash	1,662	0.002%
Equity Swap	11/07/2022	At any time	Cash	1,303,738	1.30%
Equity Swap	12/08/2022	At any time	Cash	6,176	0.01%
Equity Swap	17/11/2022	At any time	Cash	41,000	0.04%

Equity Swap	07/12/2022	At any time	Cash	13,432	0.01%
Equity Swap	12/12/2022	At any time	Cash	27,178	0.03%
Equity Swap	16/12/2022	At any time	Cash	150,265	0.15%
Equity Swap	19/12/2022	At any time	Cash	14,126	0.01%
Equity Swap	16/01/2024	At any time	Cash	28,000	0.03%
Equity Swap	19/08/2024	At any time	Cash	35,874	0.04%
Equity Swap	18/09/2030	At any time	Cash	325,000	0.32%
Equity Swap	10/12/2030	At any time	Cash	59,579	0.06%
Equity Swap	18/12/2030	At any time	Cash	20,000	0.02%
Retail Struc tured Product	29/05/2069	At any time	Cash	58	0.0001%
Retail Struc tured Product	15/04/2070	At any time	Cash	3	0.000003%
Retail Struc tured Product	14/12/2070	At any time	Cash	120	0.0001%
			SUBTOTAL B.2	2,026,211	2.03%

8. 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 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 legal entityxiv:

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, 461,174 (0.46%) of these are the result of stock borrowing agreements.

Done at Glasgow on 08/01/2021.