CD Projekt — Major Shareholding Notification 2022

Sep 23, 2022

GoldmanSachs

CD PROJEKT S.A.ul. Jagiellonska 7403-301 Warszawa

Warsaw, 23 2022

September

Ref.: Goldman Sachs Group, Inc. Disclosure in CD PROJEKT SA: Date of Transaction:19 September 2022 Issuer Notification

Dear Sir/Madam,

Please find the hard copy of the Major Shareholder disclosure in CD PROJEKT SAforCOB 19 September 2022 on behalf of The Goldman Sachs Inc.

Branch

Group,

We remain at your disposal should you have any questions. Please email enquiries andresponses to gs-regops-emea-position-enquiries@gs.com

Yours

sincerely

Andrzej Szyszka Regulatory Operations Position Reporting Goldman Sachs Bank

Europe

SE, Warsaw .

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)'

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are at- tached:

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 (if applicable): The Goldman Sachs Group, Inc. Corporation Trust Center, ¹²⁰⁹ Orange Street, Wilmington DE 19801, USA

1. Full name of shareholder(s) (if different from 3.)":

5. Date on which the threshold was crossed or reached": 19/09/2022

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

	of voting rights attached shares to (totalof 7.A)	of voting rights financial in- through struments of 7.B.1 (total 7.8.2)	Total of both in (7.A 7.8)	Total number of of voting rights issuer
situation Resulting the on date on which threshold was crossed or reached	2.17%	4.99%	7.16%	100,738,800
Position of previ- ous notification (if applicable)	1.02%	5.05%	6.07%

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

shares to attached A: Voting rights
of Class/type	of Number rights" voting		of voting rights
shares code ISIN (if pos- sible)	Direct Directive Art of (/ 2004/109/EC)	Indirect Directive of 10 (Art 2004/109/EC)	Direct Directive of (Art 2004/109/EC)	Indirect Directive 10 of (Art 2004/109/EC)
PLOPTTC00011		2,183,962		2.17%
SUBTOTAL		2,183,962	2.17%

Financial 1: of financial Type instrument	Instruments Expira- tion date*	of Art. to 13(1)(a) according Exercise/ Period" Conversion	Directive 2004/109/EC of Number voting that be ac- rights may instru- if the quired is exercised/ ment converted.	of voting rights
Securities Lending	Open		1,862,662	1.85%
		SUBTOTAL B.1	1,862,662	1.85%

2004/109/EC finan- of Type cial instrument	Expiration date	Exercise/ Pe- Conversion riod *i	or Physical cash settle- ment	of Number rights voting	of voting rights
Swap	19/01/2032		Cash	616,950	0.61%
Swap	16/04/2031		Cash	594,160	0.59%
Swap	07/06/2027		Cash	190,004	0.19%
	03/06/2032		Cash	188,789	0.19%
Swap Swap	29/01/2030		Cash	148,488	0.15%

0.01%

0.004%

3,799

0.001%

845

Swap	15/03/2024	Cash	642	0.001%
	15/03/2024	Cash	610	0.001%
Swap	02/02/2032	Cash	448	0.0004%
Swap	27/05/2024	Cash	436	0.0004%
Swap		Cash	345	0.0003%
Swap	13/10/2031	Cash	307	0.0003%
Swap	02/05/2025 01/08/2025	Cash	134	0.0001%
Swap	01/03/2032	Cash	127	0.0001%
Swap	03/02/2025	Cash	125	0.0001%
Swap	29/09/2031	Cash	116	0.0001%
Swap	02/05/2025	Cash	60	0.0001%
Swap	25/01/2023	Cash	42	0.00004%
Swap	08/12/2022	Cash	23	0.00002%
Swap	02/08/2032	Cash	18	0.00002%
Swap		Cash		0.000001%
Swap	29/01/2030	SUBTOTAL B.2	3,165,538	3.14%

1. 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 enany other undertaking(s) holding directly or indirectly an interest in the tity and does not contro (underlying) issuer."

Full chain of controlle undertakings through which the voting rights and/or the financial instruments are ffectively held starting with the ultimate controlling natural person or legal entity":

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.
GSAM Holdings LLC
NNIP Holdings LLC
NNIP UK Holdings I Ltd
NNIP UK Holdings II Ltd NNIP Holdings I B.V. / NNIP Hold- ings II B.V. NN Investment Partners Holdings
B.V.

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

1. Additional information:

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

General email contact:

esma

as-regops-emea-position-enguiries@gs.com

Done at Warsaw on 22/09/2022

Na

Notes

Please note that national forms may vary due to specific national legislation (Article 3(1a) of Directive 2004/109/EC) as for instance the applicable thresholds or information regarding capital holdings.

Full name of the legal entity and further specification of the issuer or underlying issuer, provided it is reliable and accurate (e.g. address, LEI, domestic number identity).

Other reason for the notification could be voluntary notifications, changes of attribution of the nature of the holding (e.g. expiring of financial instruments) or acting in concert.

This should be the full name of (a) the shareholder; (b) the natural person or legal entity acquiring, disposing of or exercising voting rights in the cases provided for in Article ¹⁰ (b) to (h) of Directive 2004/109/EC; or (c) the holder of financial instruments referred to in Article 3(1) of Di- rective 2004/109/EC.

As the disclosure of cases of acting in concert may vary due to the specific circumstances (e.g. same or different total positions of the parties, entering or exiting of acting in concert by single party) the standard form does not provide for specific method how to notify cases of acting in concert.

In relation to the transactions referred to in points (b) to (h) ofArticle ¹⁰ ofDirective 2004/109/EC, the following list is provided as indication of the persons who should be mentioned:

in the circumstances foreseen in letter (b) ofArticle ¹⁰ of that Directive, the natural person or legal entity that acquires the voting rights and is entitled to exercise them under the agree- ment and the natural person or legal entity who is transferring temporarily for consideration the voting rights;

in the circumstances foreseen in letter (c) of Article ¹⁰ of that Directive, the natural person or legal entity holding the collateral, provided the person or entity controls the voting rights and declares its intention of exercising them, and natural person or legal entity lodging the collateral under these conditions;

in the circumstances foreseen in letter (d) ofArticle ¹⁰ of that Directive, the natural person orlegal entity who has life interest in shares if that person or entity is entitled to exercise the voting rights attached to the shares and the natural person orlegal entity who is disposing of the voting rights when the life interest is created;

in the circumstances foreseen in letter(e) ofArticle ¹⁰ ofthat Directive, the controlling natural person orlegal entity and, provided it has notification duty at an individual level under Article 9, under letters (a) to (d) ofArticle ¹⁰ ofthat Directive or under combination of any of those situations, the controlled undertaking;

in the circumstances foreseen in letter (f) ofArticle ¹⁰ of that Directive, the deposit taker of the shares, if he can exercise the voting rights attached to the shares deposited with him at his discretion, and the depositor ofthe shares allowing the deposit taker to exercise the voting rights at his discretion; 10

in the circumstances foreseen in letter (g) of Article ¹⁰ of that Directive, the natural person or legal entity that controls the voting rights;

esma

in the circumstances foreseen in letter (h) of Article ¹⁰ of that Directive, the proxy holder, if he can exercise the voting rights at his discretion, and the shareholder who has given his proxy to the proxy holder allowing the latter to exercise the voting rights at his discretion (e.g. management companies).

Applicable in the cases provided for in Article ¹⁰ (b) to (h) ofDirective 2004/109/EC. This should be the full name of the shareholder who is the counterparty to the natural person or legal entity referred to in Article ¹⁰ of that Directive unless the percentage of voting rights held by the share holder is lower than the lowest notifiable threshold for the disclosure of voting rights holdings in accordance with national practices (e.g. identification of funds managed by management compa nies).

vi The date on which threshold is crossed or reached should be the date on which the acquisition or disposal took place or the other reason triggered the notification obligation. For passive crossings, the date when the corporate event took effect.

vi The total number of voting rights shall be composed of all the shares, including depository receipts representing shares, to which voting rights are attached even if the exercise thereof is suspended.

vii If the holding has fallen below the lowest applicable threshold in accordance with national law, please note that it might not be necessary in accordance with national law to disclose the extent of the holding, only that the new holding is below that threshold.

In case of combined holdings of shares with voting rights attached "direct holding" and voting rights "indirect holding", please split the voting rights number and percentage into the direct and indirect columns if there is no combined holdings, please leave the relevant box blank.

Date of maturity/expiration of the financial instrument i.e. the date when right to acquire shares ends.

Xi If the financial instrument has such period please specify this period for example once every months starting from [date].

Xi In case of cash settled instruments the number and percentages of voting rights is to be presented on delta-adjusted basis (Article 13(1a) of Directive 2004/109/EC).

xi Ifthe person subject to the notification obligation is either controlled and/or does control another undertaking then the second option applies.

xiv The full chain of controlled undertakings starting with the ultimate controlling natural person or legal entity has to be presented also in the cases, in which only on subsidiary level threshold is crossed or reached and the subsidiary undertaking discloses the notification as only thus the markets get always the full picture of the group holdings. In case of multiple chains through which the voting rights and/orfinancial instruments are effectively held the chains have to be presented chain by chain leaving row free between different chains (e.g.: A, B, C, free row, A, B, D, free row, A, E, etc.).

The names of controlled undertakings through which the voting rights and/or financial instru- ments are effectively held have to be presented irrespectively whether the controlled undertakings cross or reach the lowest applicable threshold themselves.

xi Example: Correction of previous notification.