GTC - Globe Trade Centre S.A. — Share Issue/Capital Change 2017

May 9, 2017

Current report number: 8/2017

Date: 9 May 2017

Subject: Updated opinion of the Management Board regarding the exclusionof the pre-emptive rights and the determination of the issue price forthe Series L Shares which constitutes a Schedule to the draft ofresolution No. 18 of the ordinary general meeting of the shareholders ofGlobe Trade Centre S.A. convened for 16 May 2017 regarding, inter alia,the increase of the Company's share capital updated on 9 May 2017

Further to current report No. 7/2017 published on 9 May 2017, theManagement Board of Globe Trade Centre SA (the "Company") herebyannounces an updated opinion of the Management Board regarding thearguments in favour of excluding the pre-emptive rights of theshareholders in their entirety in relation to the proposed increase ofthe Company's share capital through the issuance, solely to certainshareholders of the Company as at the dividend record date, of theSeries L Shares and the procedure for the determination of the issueprice for the Series L Shares (the "Opinion of the Management Board"),which constitutes a schedule to the amended draft of resolution No.18 ofthe ordinary general meeting of the shareholders of the Company convenedfor 16 May 2017 (the "General Meeting") regarding the increase of theCompany's share capital through the issuance, solely to certainshareholders of the Company as at the dividend record date, of ordinarySeries L bearer shares, the exclusion of all of the pre-emptive rightsof the existing shareholders to all of the Series L Shares, theamendment of the Company's statute, the application for the admissionand introduction of the Series L Shares and/or the rights to the SeriesL shares to trading on the regulated market operated by the Warsaw StockExchange and the dematerialisation of the Series L Shares and/or therights to the Series L Shares published in current report No. 7/2017 on9 May 2017.

The updated Opinion of the Management Board constitutes a schedule tothis current report.

The remaining information regarding the convocation of the GeneralMeeting published in current reports No. 5/2017 dated 19 April 2017 andNo. 7/2017 published on 9 May 2017 remains unchanged.

Legal basis: Legal basis: § 38.1.3 of the Regulation of the Minister ofFinance dated 19 February 2009 on current and periodic informationpublished by issuers of securities and on the conditions under whichsuch information may be recognized as being equivalent to informationrequired by the laws of a state which is not a member state