Sanwil Holding S.A. — Director's Dealing 2018

Dec 5, 2018

Current report no 26/2018

dated 4 December 2018

NOTIFICATION OF TRANSACTION BY AN INSIDER

Kernel Holding S.A. (hereinafter "the Company") hereby announces that the Company received on 4 December 2018 a notification pursuant to Art. 70 point 1 in connection with Art. 69 of the Act of 29 July 2005 on public offerings, conditions governing the introduction of financial instruments to the organized trading system, and public companies (hereinafter "the Act on Public Offerings") and Art. 19 of the Market Abuse Regulation, informing that Namsen Limited, a legal entity directly controlled by Andriy Verevskyy, a chairman of the Board of Directors of the Company, acquired on 29 November 2018 a total of 56,744 shares in Kernel Holding S.A. at an average price of 52.72 PLN per share.

As of 4 December 2018, Namsen Limited holds 32,716,775 shares in the Company representing 39.93% of the share capital and entitling to 32,716,775 votes at the Company's General Meeting of Shareholders, equal to 39.93% of the total number of votes.

Before the acquisition, Namsen Limited held 32,660,031 shares, representing 39.86% of the share capital of the Company.

The Company hereby announces that none subsidiary of Namsen Limited holds the Company's shares.

The Company hereby announces that there are no persons referred to in Art. 87 par. 1 point 3 letter c. of the Act on Public Offerings.

Legal grounds: Article 70 point 1 in connection with Article 69 of the Act on Public Offerings and Article 19 of the Market Abuse Regulation.

Signatures of individuals authorized to represent the Company:

Viktoriia Lukianenko

Yuriy Kovalchuk