Novavis Group S.A. — AGM Information 2025

Jan 29, 2025

Report Content The Management Board of Proguns Group S.A., headquartered in Warsaw(hereinafter: the Issuer, the Company), announces that, due to theprolonged process of selecting an investment firm (brokerage house) toact as an intermediary in the offering of the Company's Series F shares,it has decided to withdraw from implementing Resolution No. 1 of theIssuer's Extraordinary General Meeting dated December 16, 2024,regarding the increase of share capital through a closed subscription(with pre-emptive rights for existing shareholders) and the amendment ofthe Company's Articles of Association. Consequently, the Company willnot proceed with the issuance of Series F shares based on thisresolution.

This decision results from the fact that, to date, the Issuer has notsigned an intermediary agreement with any brokerage house. The Issuernotes that such an agreement is required under regulations effective asof December 4, 2024. The Issuer explains that it has engaged indiscussions with brokerage houses capable of providing this service;however, these discussions have not yet resulted in an agreement for thebrokerage of the Series F share offering. Given the approachingpre-emptive rights determination date specified in the aforementionedResolution No. 1 of the Extraordinary General Meeting dated December 16,2024, the Issuer's Management Board has decided to withdraw from theplanned issuance of Series F shares under this resolution.

The Management Board further informs that the Issuer will continue itsefforts to conduct a new share issuance and raise the capital necessaryfor its development. Depending on the outcome of negotiations withbrokerage houses, the Issuer may revisit the plan to conduct a rightsissue or opt for a share issuance directed at fewer than 150individually designated investors, which does not require a brokeragehouse to act as an intermediary in the offering.