Institut IGH d.d. — Board/Management Information 2012

Sep 17, 2012

IGH‐R‐A Regular Share, ISIN HRIGH0RA0006 Offered at the official market of the Zagreb Stock Exchange Notice placed in accordance with Article 459 of the Capital Market Act

Zagreb, 14 September 2012

HANFA ZAGREBAČKA BURZA

Miramarska 24b Ivana Lučića 2a 10000 Zagreb 10000 Zagreb Odjel uvrštenja

Subject: Notice about appointment of the multimember Management Board

Pursuant to the Capital Market Act (Official Gazette Nos. 88/08, 146/08, 74/09) , and further to the Zagreb Stock Exchange rules, we wish to make the following announcement:

The new multimember Management Board of INSTITUT IGH d.d. was appointed at the 32nd Management Board session held on Friday 14 September 2012. The following persons were appointed during this session:

• 1. Prof. Jure Radić, Ph.D. CE, Management Board President
• 1. Veniamin Mezhibovskiy, B.Sc., Management Board Member
• 1. Željko Štromar, M.Sc. CE, Management Board Member
• 1. Željko Grzunov, B.Econ., Management Board Member
• 1. Tomislav Alpeza, LL.M., Management Board Member

The appointment decision enters into force on 1 October 2012. The ways in which the Company will be represented by Management Board Members, the scope of their authorities, and their term in office, are specified in Articles 34 and 31, Paragraph 1, of the Company's Articles of Association.

New Management Board Members are:

Mr. Veniamin Mezhibovskiy is a graduate engineer, and has completed MBA studies. He started his professional career in the Russian company Ribinski motori d.d. After that, he was appointed as General Manager of the company SATURN

d.d., which specializes in the production of gas turbines. His career in the Russian power sector continued at companies Elektrocentromontaž and Gazenegroprom‐ Invest. At INSTITUT IGH d.d., he wil manage international projects, with an emphasis on the Russian Federation market.

Mr. Željko Grzunov is an economics graduate. In the period from 1995 to 2005, he assumed the position of Assistant Minister for finances (Ministry of development and Renewal, Ministry of Public Works, Renewal and Construction, Ministry of Sea, Transport and Infrastructure) and, from 2005 to 2009, he was the Assistant to General Manager of PRIVREDNA BANKA ZAGREB d.d. At INSTITUT IGH d.d. he will be in charge of corporate finances and accounting.

Mr. Željko Štromar obtained his master's degree at the Faculty of Civil Engineering in Zagreb, and has further improved his professional competences in the sphere of administration and management at the Economic Chamber of the Republic of Austria. He has been employed with INSTITUT IGH d.d. since 2004, where he was initially appointed to the post of Head of the Building Engineering Department. He is a Management Board Member of the Croatian Chamber of Civil Engineers. As a Management Board Member of the INSTITUT IGH d.d., he will be in charge of the Company's core business.

Mr. Tomislav Alpeza graduated from the Faculty of Law – Zagreb, and gained his master's degree at the University of British Columbia. He further improved his professional expertise at the Cornell Law School, Université Paris‐Sorbonne, and the New York University. During his 15 years of professional career he has worked on company takeover and merger operations, and on post‐acquisition integration processes, including real‐estate investment activities. He joined INSTITUT IGH d.d. after he worked as a Management Board Member at Ban Centar and Centar Bundek projects, worth € 150 million. He will be in charge of final restructuring activities, and investment projects.

The orientation to core business, a strong breakthrough to both the Russian Federation market and regional markets, restructuring process finalization, debt reduction through sale of investment projects, and continued development of Institut IGH d.d. as a veritable centre of excellence and a leading design company in the Central and Eastern Europe, are the basic guidelines for the work of the new Management Board.

INSTITUT IGH d.d.

Želko Grzunov, B.Econ. Procurator