Grupa Pracuj S.A.

Annual Report • Mar 12, 2025

Currentreport no. 2/2025

Dated2025-03-11

Title:Revaluation of an asset measured at fair value through profit or loss

Legalbasis: Article 17 sec. 1 of MAR - confidential information

Contentof the report:

TheManagement Board of Grupa Pracuj S.A. (the "Company")informs that in the course of preparation of the standalone andconsolidated financial statements of the Company and the Capital Groupof the Company (the "Group") for year ended on 31 December2024 ("Financial Statements for 2024")on 11 March 2024 determined that it is necessary to update the valuationof one of financial assets measured at fair value through profit orloss, i.e. shares in Beamery Inc. ("Beamery"). As of thedate of this report, the Company estimates that the fair value of sharesin Beamery decreased by approx. PLN 28,6 million against the valuationas of 30 September 2024. The final value is subject to receipt of thefinal valuation report prepared by a professional independent entity(valuation expert) and completion of the audit of the FinancialStatements for 2024.

Inconnection with the above, taking into the account the impact of thedeferred income tax, the Company estimates that the Group's andCompany's net financial result for year ended on 31 December 2024 willbe decreased by PLN 23,2 million. The value of the decrease in fairvalue of shares in Beamery will be recognized in financial costs for theyear ending on 31 December 2024. The above will not affect Company's andGroup's ongoing operations, financial results from operations of theCompany and the Group, as well as Company's and Group's cash flows.

Thedecrease of fair value of shares in Beamery results from the referenceof the valuation to the current multipliers used for valuing companiessimilar to Beamery and transactions on shares of such companies. TheCompany measures unlisted shares based on level 3 of the fair valuehierarchy, consequently, valuation inputs are not based on observablemarket data.

Thevalues presented above are of an estimated nature and in connection withthe audit of the Financial Statements for 2024 conducted by the auditfirm, may be subject to change. The final value of the net financialresult of the Company and the Group for year 2024, as well as the valueof the assets of the Company and the Group as of 31 December 2024 willbe presented in the Financial Statements for 2024, which are planned tobe published on 27 March 2024.

TheCompany acquired the above-mentioned shares in Beamery in two rounds in2016 and 2017 for PLN 4.7 million, and their fair value as at 31December 2023 was PLN 78,3million. The value of the shares in questionis characterized by high volatility due to the valuation method appliedto this type of asset. The revaluations are of an accounting nature onlyand have no impact on the Company's liquidity position.