Acquisition of the second block of shares in Gospodarstwo Rolne Ponary Sp. z o.o.

The Management Board of Przedsiębiorstwo Przemysłu Spożywczego "PEPEES" S.A. (the "Company") would like to inform that as part of the performance of the preliminary agreement concluded on 27 April 2017 (compare Current report No. 11/2017), on 19 September 2017 the Company concluded with a natural person being the Company's shareholder the second conditional sale agreement, on the basis of which the Company will acquire a block of 32.5% of shares (the "Second Block of Shares") in Gospodarstwo Rolne Ponary sp. z o.o. ("Ponary"). The acquisition of the Second Block of Shares shall be effected on condition that the National Agriculture Support Centre does not exercise the pre-emptive right with regard to the Second Block of Shares, to which it is entitled under Article 3a. Section 1 of the Act on Shaping of the Agricultural System of 11 April 2003.
If the National Agriculture Support Centre does not exercise the pre-emptive right, the Company intends to acquire further shares in Ponary when it has available financial means.

Signatures of the persons representing the Company

President of the Management Board Wojciech Faszczewski 2017-09-19
Member of the Management Board Tomasz Rogala 2017-09-19