Novavis Group S.A. — M&A Activity 2025

Jan 29, 2025

Report Content The Management Board of Proguns Group S.A., headquartered in Warsaw(hereinafter: the Company, the Issuer), with reference to ESPI reportsNo. 1/2025 and 2/2025 dated January 10, 2025, announces the acquisitionof 90.00% of the share capital of Proguns sp. z o.o., headquartered inWypędy, from Polska Grupa Militarna S.A. (hereinafter: PGM) for a priceof PLN 900,000.00 (in words: nine hundred thousand zlotys).

Additionally, the Company's Management Board informs about the agreementon the terms of PGM's acquisition of the Issuer's shares, which willrepresent at least 50.01% of the total number of votes at the Issuer'sGeneral Meeting, with the ultimate goal of integrating the Company intothe PGM Capital Group. In connection with the suspension of the issuanceof the Company's Series F shares, as mentioned in ESPI report No. 3/2025dated January 29, 2025, PGM will acquire Series W1 or W2 shares (sharessubscribed through the exercise of rights from Series A and Bsubscription warrants) or new shares of the Issuer, which will be issuedspecifically for PGM.

The Issuer's Management Board has decided to publish this informationdue to its potentially significant impact on the valuation of theIssuer's financial instruments listed in the alternative trading systemon the NewConnect market, as well as its potentially significantinfluence on the future financial and economic situation of the Issuer.