Ciech S.A. — Major Shareholding Notification 2020

Jan 31, 2020

Subject:Notification of a change in ownership

Text of the report:

The Management Board of CIECH S.A. with itsregistered office in Warsaw (the "Company")informs that today the Company received a notice fromAvivaOtwarty Fundusz Emerytalny Aviva Santander S.A., with the followingcontent:

"In compliance withthe obligation under article 69 section 1 and section 4 of the Act of 29July 2005 onPublic Offering, Conditions Governing the Introductionof Financial Instruments to Organised Trading, and Public Companies,please be advised that in connection with the transactions involvingacquisition of shares in Ciech S.A. (hereinafter referred to as the"Company") with its registered office in Warsaw, concluded on 23 January2020, the share of Aviva Otwarty Fundusz Emerytalny Aviva Santander("Aviva OFE") in the total number of votes in the Company increasedabove 5%.

Prior to the settlement of theaforementioned transactions, as at 24 January 2020, Aviva OFE held2,586,513 shares of the Company, representing 4.91% of the share capital(issued shares) of the Company and entitling to 2,586,513 votes at theGeneral Meeting, which accounted for 4.91% of the total number of votes.

After the conclusion andsettlement of the aforementioned transactions, as at 27 January 2020,Aviva OFE held 2,723,672 shares of the Company, representing 5.17% ofthe share capital (number of issued shares) of the Company and entitlingto 2,723,672 votes at the General Meeting, which accounted for 5.17% ofthe total number of votes.

At the same time, Aviva OFEinforms that:

- it does not have anysubsidiaries holding shares in the Company,

- there are no circumstancesdescribed in article 69 section 4 point 6 of the said Act,

- neither does it hold anyfinancial instruments referred to in article 69b section 1 points 1) and2) of the aforementioned Act."