Mabion S.A. — Capital/Financing Update 2020

Aug 12, 2020

Report content:

Further to the current report no. 16/2020 of March 16, 2020, regardingdeclarations made by the main shareholders of the Company, being theCompany's founders, to recapitalize Mabion S.A. (the Company, theBorrower), the Management Board of the Company informs that on August12, 2020, after receipt of relevant consents from the Supervisory Board,the Company concluded loan agreements up to the amount of PLN 15 millionin total with Twiti Investments Ltd. and Glatton Sp. z o.o. (theLenders). The loans may be disbursed by the Lenders to the Borrower intranches, in the amounts and dates agreed by the parties in separatepayment schedules. The Lenders will pay the tranches each time upon awritten request from the Borrower.

The interest on the loans is the same for all the loan agreements andhas been agreed on arm's length conditions as the variable interest ratebased on the WIBOR 3M rate plus a margin. The loans will be repaid inthe manner of conversion to series U shares to be issued on the termsset out in the Resolution No. 28 of the Ordinary General Meeting ofMabion S.A. of June 15, 2020 or repaid in cash no later than on March31, 2021. The Management Board of the Company reminds that in accordancewith the aforementioned Resolution of the General Meeting, the contractsfor the subscription of U-series shares should be concluded no laterthan on December 15, 2020.