GTC - Globe Trade Centre S.A. — Board/Management Information 2020

Jun 23, 2020

Subject: Dismissal of Thomas Kurzmann from the Management Board of GlobeTrade Centre S.A. and appointment of Robert Snow to the Management Boardof Globe Trade Centre S.A.

The Management Board of Globe Trade Centre S.A. ("Company") herebyreports that on 22 June 2020 the Supervisory Board of the Companyadopted a resolution regarding the dismissal of Thomas Kurzmann from theposition of member of the Management Board of the Company and theappointment of Robert Snow to the Management Board of the Companyeffective as of the moment of receipt by the Company of the notificationissued by LSREF III GTC INVESTMENTS B.V. pursuant to Article 69 section1 item 2) in conjunction with Article 87 section 5 item 1) of the Act of29 July 2005 on Public Offering, the Conditions Governing theIntroduction of Financial Instruments to Organised Trading, and PublicCompanies regarding the indirect disposal of shares in the share capitalof the Company resulting from the disposal by LSREF III GTC INVESTMENTSB.V. of all of the shares in the share capital of GTC DUTCH HOLDINGSB.V., which holds 61.49% of the shares in the share capital of theCompany and 61.49% of the votes at the general meeting of the Company.

The Company will inform of receipt of the aforementioned notification ina separate current report.

Mr. Robert Snow is the Chairman of GTC Hungary. Mr Snow joined GTC in2000 as CEO and Country Manager in Hungary and led the developmentactivity of GTC's operations in Hungary. In addition and from 2004 until2013, Mr Snow established and managed the development activities of GTCin Serbia. Mr Snow has a proven track record in the real estate businessin CEE in senior management roles for over 30 years; amongst others atDanubius Hotels in Budapest from 1996 to 2000. Prior to settling inHungary, Mr Snow was employed in project management, construction andlogistics roles for over 15 years in the Middle East. Mr Snow waseducated at Millfield School in Somerset, UK and holds a Bachelor ofScience Degree from Manchester University Institute of Science andTechnology in Building Technology.

According to statement he has made, Robert Snow is not entered in theregister of insolvent debtors maintained pursuant to the Polish Act onthe National Court Register dated 20 August 1997, does not perform anyactivities outside of the Company's business which could be consideredcompetitive thereto, does not participate in any competitive business,either as a partner in a civil partnership or any other type ofpartnership, is not a shareholder of a capital company and is not memberof the authorities of any competitive company or any other competitiveentity.