Decision of The Appeal Court

The Board of Directors of Przedsiębiorstwo Przemysłu Spożywczego PEPEES S.A. (‘the Company’), in reference to current reports No. 14/2017 of 8 June 2017 and No. 12/2018 of 20 March 2018, hereby informs that, on 31.10.2018, the Appeal Court in Białystok, I Civil Division (’the Court’) dismissed the appeal of EPSILON Fundusz Inwestycyjny Zamknięty Aktywów Niepublicznych w Warszawie against the judgement of the District Court of the Economic Court in Białystok, VII Economic Division, dismissing the lawsuit to repeal or annul the following resolutions adopted on 25 April 2017 by the Annual General Meeting of Shareholders of the Company:
 Resolution No. 11 on the allocation of the net profit of Przedsiębiorstwo Przemysłu Spożywczego PEPEES S.A. for the financial year 2016;
 Resolution No. 24 on authorising the Board of Directors to acquire the Company’s Treasury shares;
 Resolution No. 25 on the establishment of reserves for the acquisition of Treasury shares;
 Resolution No. 26 on the development of the list of persons eligible to participate in the incentive and bonus scheme;
 Resolution No. 27 on the Company’s financing of the acquisition of the Company’s Treasury shares;
 Resolution No. 28 on the establishment of reserves for the financing by the Company of the acquisition of Treasury shares.
The decision of the Court is final and binding.
Specific legal basis: § 38(1)(10) of the Decree of the Minister of Finance dated 19 February 2009 on current and periodic information provided by issuers of securities and conditions for recognising as equivalent the information required by the law of a non-member state.

SIGNATURES OF THE COMPANY’S REPRESENTATIVES
Date Name Title/Function Signature
2018-11-02 Wojciech Faszczewski President of the Board of Directors
2018-11-02 Tomasz Rogala Member of the Board of Directors