Ciech S.A.

Major Shareholding Notification • Jun 28, 2018

Contents of the report:

The Management Board of CIECH S.A. with itsregistered office in Warsaw (the "Company") informs thattoday the Company received a notice from Mr Sebastian Kulczyk and MsDominika Kulczyk (the "Notice"), in compliance with theobligation under article 69 section 1 point 1 of the Act of 29 July 2005on Public Offering, Conditions Governing the Introduction of FinancialInstruments to Organised Trading, and Public Companies (consolidatedtext: Journal of Laws of 2018, item 512, as amended) (the "Act"), inwhich Mr Sebastian Kulczyk and Ms Dominika Kulczyk informed that, asa result of division of the estate left by Dr Jan Kulczyk, Ms DominikaKulczyk no longer holds shares in the Company.

Further Mr Sebastian Kulczyk and Ms Dominika Kulczykinformed that as a result of division of the estate Mr Sebastian Kulczykcurrently holds indirectly 26,952,052 (say: twenty-six million ninehundred fifty-two thousand fifty-two) shares in the Company,constituting 51.14% (say: fifty-one and fourteen hundredth percent) ofthe Company's share capital and authorising to exercise 26,952,052 (say:twenty-six million nine hundred fifty-two thousand fifty-two) votes onthe Company's shareholders meeting, constituting 51.14% (say: fifty-oneand fourteen hundredth percent) of the total number of votes on theCompany's shareholders meeting.

On the basis of the will of Dr Jan Kulczyk MrSebastian Kulczyk and Ms Dominika Kulczyk inherited (as co-owners) interalia 100% (say: one hundred percent) of shares in the company LuglioLimited ("Luglio"), a Cypriot law company, being the dominant entity ofKulczyk Investments S.A. ("KI"), which holds indirectly via KI ChemistryS.à r.l. 26,952,052 (say: twenty-six million nine hundred fifty-twothousand fifty-two) shares in the Company, constituting 51.14% (say:fifty-one and fourteen hundredth percent) of the Company's share capitaland authorising to exercise 26,952,052 (say: twenty-six million ninehundred fifty-two thousand fifty-two) votes on the Company'sshareholders meeting, constituting 51.14% (say: fifty-one and fourteenhundredth percent) of the total number of votes on the Company'sshareholders meeting. In compliance with Cypriot law Mr SebastianKulczyk and Ms Dominika Kulczyk were co-owners of 100% (say: one hundredpercent) of shares in Luglio, while under Cypriot law each of them wasconsidered to own all the shares subject to co-ownership.

In view of the above, as required under Art. 69(4)(2) of the Act Mr Sebastian Kulczyk and Ms Dominika Kulczyk informedthat prior to the division of the estate referred to the Notice, each MrSebastian Kulczyk and Ms Dominika Kulczyk held indirectly 26,952,052(say: twenty-six million nine hundred fifty-two thousand fifty-two)shares in the Company, constituting 51.14% (say: fifty-one and fourteenhundredth percent) of the Company's share capital and authorising toexercise 26,952,052 (say: twenty-six million nine hundred fifty-twothousand fifty-two) votes on the Company's shareholders meeting,constituting 51.14% (say: fifty-one and fourteen hundredth percent) ofthe total number of votes on the Company's shareholders meeting.

Further, Mr Sebastian Kulczyk, as required byCypriot, was the so called senior shareholder of Luglio having a castingvote in case of lack of agreement between the co-owners as to the mannerof exercising voting rights attaching to the shares in Luglio.Consequently Mr Sebastian Kulczyk (individually) - given the status andrights of a senior shareholder - was the dominant entity of the Companywithin the meaning of the Act.

As a consequence of termination of joint ownershipbased on an Instrument of Transfer signed on 26 June 2018 Mr SebastianKulczyk became the sole owner of 100% (say: one hundred percent) ofshares in Luglio, which prior to said date, were subject to co-ownershipof Mr Sebastian Kulczyk and Ms Dominika Kulczyk. Consequently MrSebastian Kulczyk continues to be the dominant entity of the Companywithin the meaning of the Act.

Given the above, as required under Art. 69 (4)(3) ofthe Act Mr Sebastian Kulczyk and Ms Dominika Kulczyk informed that as atthe date hereof Mr Sebiastian Kulczyk holds 26,952,052 (say: twenty-sixmillion nine hundred fifty-two thousand fifty-two) shares in theCompany, constituting 51.14% (say: fifty-one and fourteen hundredthpercent) of the Company's share capital and authorising to exercise26,952,052 (say: twenty-six million nine hundred fifty-two thousandfifty-two) votes on the Company's shareholders meeting, constituting51.14% (say: fifty-one and fourteen hundredth percent) of the totalnumber of votes on the Company's shareholders meeting and Ms DominikaKulczyk does not hold (neither directly nor indirectly) any shares inthe Company.

As required under Art. 69 (4)(5) of the Act MrSebastian Kulczyk and Ms Dominika Kulczyk informed that Mr SebastianKulczyk holds the Company's shares referred to the Notice indirectly,via Luglio, KI and KI Chemistry S.à r.l. No other subsidiaries of MrSebastian Kulczyk or Ms Dominika Kulczyk hold shares in the Company.

As required under Art. 69 (4)(6) of the Act MrSebastian Kulczyk and Ms Dominika Kulczyk informed that no personreferred to in Art. 87 (1)(3)(c) exists.

As required under Art. 69 (4)(7) of the Act MrSebastian Kulczyk and Ms Dominika Kulczyk informed that the number ofvotes calculated in line with Art. 69b (2) of the Act, to theacquisition of which Mr Sebastian Kulczyk or Ms Dominika Kulczyk wouldbe entitled or obliged as holders of financial instruments referred toin Art. 69b (1)(2) of the Act, which are executed solely by way ofpecuniary settlement is 0 (say: zero).

Asrequired under Art. 69 (4)(8) of the Act Mr Sebastian Kulczyk and MsDominika Kulczyk informed that the number of votes calculated in linewith Art. 69b (3) of the Act, to which the financial instrumentsreferred to in Art. 69b (1)(2) of the Act would be connected is 0 (say:zero).