Podravka d.d. — Director's Dealing 2016

Nov 11, 2016

PODRAVKA Inc. Ante Starčević Str. No 32 48000 Koprivnica

Ticker: PODR-R-A ISIN: HRPODRRA0004

Listing: Official Market of the Zagreb Stock Exchange

Koprivnica, 11th November 2016

• - THE ZAGREB STOCK EXCHANGE
• - CROATIAN FINANCIAL SERVICES SUPERVISORY AGENCY
• - CROATIAN NEWS AGENCY
• - COMPANY WEB SITE

Re: Acquisition of PODRAVKA Inc. shares - Notice

PODRAVKA Inc. (hereinafter: Issuer or Company) hereby notifies that on 11th November 2016 the PBZ CROATIA OSIGURANJE Joint Stock Company for Compulsory Pension Funds Management informed the Issuer on dealings in the Company's shares. This notification is made because Mr. Dubravko Štimac, an insider on the Insider List of the issuer and a President of the Supervisory Board of Podravka Inc., holds the position of President of the Management Board of the PBZ CROATIA OSIGURANJE Joint Stock Company for Compulsory Pension Funds Management which is thereby considered a connected person, pursuant to Article 464, paragraph 2 of the Capital Market Act and to Market Abuse Regulation (EU) No. 596/2014.

PBZ CROATIA OSIGURANJE Joint Stock Company for Compulsory Pension Funds Management made the following acquisitions in the name and on behalf of PBZ CROATIA OSIGURANJE Compulsory Pension Fund - category B, regarding the Issuer 's shares:

• On 8 th November 2016 at the Zagreb Stock Exchange 151,287 ordinary shares of the Issuer were acquired at an average price of HRK 360.04 per share and
• On 10th November 2016 at the Zagreb Stock Exchange 83 ordinary shares of the Issuer were acquired at an average price of HRK 362.47 per share and

In accordance with the Implementing Regulation No. 2016/523, information about the transactions were stated in the Template for the Notifications on the transactions by persons discharging managerial responsibilities and persons closely associated with them, and for the disclosure of those transactions, and which Template is enclosed to this Notice.

PODRAVKA Inc.

1 Details of the person discharging managerial responsibilities/person closely associated PBZ CROATIA OSIGURANJE Compulsory $(a)$ Name Pension Fund category B $\overline{2}$ Reason for the notification Mr. Dubravko Štimac is the president of $(a)$ Position/status PODRAVKA Inc. Supervisory Board and also president of the Management Board of PBZ ¥ CROATIA OSIGURANJE Joint Stock Company for Compulsory Pension Funds management $(b)$ Initial notification/Amendment Initial notification Details of the issuer, emission allowance market participant, auction platform, auctioneer $\overline{3}$ or auction monitor PODRAVKA Inc. $(a)$ Name 549300TMC6BYESPQ7W85 $(b)$ LEI Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each $\Delta$ type of transaction; (iii) each date; and (iv) each place where transactions have been conducted Description of the financial instrument, - PODRAVKA Inc. shares $(a)$ - Ticker: PODR-R-A type of instrument - ISIN: HRPODRRA0004 Identification code - Acquisition of shares $(b)$ Nature of the transaction $(c)$ Price(s) and volume(s) Price(s) Volume(s) 360.04 HRK 151,287 Aggregated information $(d)$ Aggregated volume - Aggregated volume: 151,287 - Price of the transaction: 54,469,371.48 HRK Price $(151, 287 \times 360.04)$ 2016-11-08 $(e)$ Date of the transaction The Zagreb Stock Exchange $(f)$ Place of the transaction

Template for notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

PBZ CROATIA OSIGURANJE Joint Stock Company for Compulsory Pension Funds management

Dubravko Štimac, president br (kg Mahagement Board

1	Details of the person discharging managerial responsibilities/person closely associated
(a)	Name	PBZ CROATIA OSIGURANJE Compulsory Pension Fund category B
$\overline{2}$	Reason for the notification
(a)	Position/status	Mr. Dubravko Štimac is the president of PODRAVKA Inc. Supervisory Board and also president of the Management Board of PBZ CROATIA OSIGURANJE Joint Stock Company for Compulsory Pension Funds management
(b)	Initial notification/Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
(a)	Name	PODRAVKA Inc.
(b)	LEI	549300TMC6BYESPQ7W85
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
(a)	Description of the financial instrument,	- PODRAVKA Inc. shares
	type of instrument	- Ticker: PODR-R-A
	Identification code	- ISIN: HRPODRRA0004
(b)	Nature of the transaction	- Acquisition of shares
(c)	Price(s) and volume(s)	Price(s)	Volume(s)
		362.47 HRK	83
(d)	Aggregated information Aggregated volume Price	- Aggregated volume: 83 - Price of the transaction: 30,085.01 HRK $(83 \times 362.47)$
(e)	Date of the transaction	2016-11-10
(f)	Place of the transaction	The Zagreb Stock Exchange

Template for notification and public disclosure of transactions by persons discharging managerial
responsibilities and persons closely associated with them

PBZ CROATIA OSIGURANJE Joint Stock Company
for Compulsory Pension Funds management

Dubravko Štimac, President/of the Management Board