Ciech S.A. — Major Shareholding Notification 2017

Jan 4, 2017

Subject:Notification of exceeding the 10% threshold in the total number of votesof the Issuer

Contents of the report:

TheManagement Board of CIECH S.A. with its registered office in Warsaw (the"Issuer" or the "Company") hereby informs that the Company has receivedfromTowarzystwoFunduszy Inwestycyjnych PZU S.A. ("TFI PZU S.A.") with its registeredoffice in Warsaw, acting in the name and on behalf of investment fundsmanaged by it, i.e. (i) PZU Fundusz Inwestycyjny Otwarty Parasolowy,(ii) PZU Specjalistyczny Fundusz Inwestycyjny Otwarty GlobalnychInwestycji, (iii) PZU Specjalistyczny Fundusz Inwestycyjny OtwartyUniwersum, (iv) PZU Fundusz Inwestycyjny Zamknięty Dynamiczny, (v) PZUFundusz Inwestycyjny Zamknięty Medyczny, and (vi) PZU FunduszInwestycyjny Zamknięty Akcji Focus (hereinafter jointly referred to asthe "TFI PZU Funds"), information onexceeding the 10% threshold in the total number of votes of the Issuerby the TFI PZU Funds.

The 10% thresholdof the total number of votes in the Company was exceeded by the TFI PZUFunds as a result of the settlement, on 3 January 2017, of 66.860 sharesof the Company acquired in ordinary transactions on 30 December 2016.

Beforethe change, the TFI PZU Funds held 5,269,714 shares of the Company,representing 9.9995 % of the share capital of the Company. These sharescarried 5,269,714 votes at the General Meeting of the Company,representing 9.9995 % of the total number of votes at the GeneralMeeting.

After the change in the shareholding, the number of shares of theCompany held by the TFI PZU Funds totals 5,336,574 shares, representing10.1263 % of the share capital of the Company. These shares carry5,336,574 votes at the General Meeting of the Company, representing10.1263 % of the total number of votes at the General Meeting.