Photon Energy N.V.

Transaction in Own Shares • Nov 14, 2018

The Management Board of Photon Energy N.V. informs that,

- on 8 November 2018, Photon Energy N.V. purchased 1,143 Photon Energy N.V. shares at a price of PLN 1.75 per share,

- on 8 November 2018, Photon Energy N.V. purchased 42,035 Photon Energy N.V. shares at a price of PLN 1.83 per share,

- on 9 November 2018, Photon Energy N.V. purchased 7,230 Photon Energy N.V. shares at a price of PLN 1.85 per share,

- on 9 November 2018, Photon Energy N.V. purchased 3,093 Photon Energy N.V. shares at a price of PLN 1.83 per share,

- on 9 November 2018, Photon Energy N.V. purchased 996 Photon Energy N.V. shares at a price of PLN 1.84 per share,

- on 9 November 2018, Photon Energy N.V. purchased 5,000 Photon Energy N.V. shares at a price of PLN 1.85 per share,

- on 13 November 2018, Photon Energy N.V. purchased 2,800 Photon Energy N.V. shares at a price of PLN 1.78 per share,

- on 13 November 2018, Photon Energy N.V. purchased 2,230 Photon Energy N.V. shares at a price of PLN 1.83 per share.

The total amount of the notified transactions is PLN 118,108 (EUR 27,523).

Prior to the conclusion of the above mentioned transactions, Photon Energy N.V. held 8,862,941 shares in the Company, which accounted for 14.77 % of the Company’s share capital and carried no rights to vote at the Company’s general meeting of shareholders.

As from 13 November 2018, Photon Energy N.V. holds 8,927,468 shares, which account for 14.88% of the Company’s share capital and carry no rights to vote at the Company’s general meeting of shareholders.