Answers to shareholders’ questions given pursuant to Article 428 of the Code of Commercial Companies

The Board of Directors of PEPEES S.A. (the “Company”) hereby attaches, pursuant to Article 428 Clause 5 of the Polish Code of Commercial Companies, answers to questions asked by a shareholder at the Ordinary (Annual) General Meeting of Shareholders of the Company held on 19 May 2016.

Signatures of the Company's representatives

President of the Board of Directors Wojciech Faszczewski 2016-05-31
Member of the Board of Directors / Chief Financial Officer Krzysztof Homenda 2016-05-31