Commencement of buyback of treasury share

The Management Board of Przedsiębiorstwo Przemysłu Spożywczego PEPEES S.A. (the "Company") notifies that it has decided to initiate a buyback of its treasury shares and to annuonce an invitation to submit offers to sell shares (the "Invitation") on the basis of the authorisation granted by the Annual General Meeting of Shareholders in resolution No. 24 of 25 April 2017 and the resolution of the Supervisory Board of 23 December 2021. The Invitation relates to the purchase of up to 2,000,000 ordinary bearer shares of the Company coded PLPEPES00018, representing in total 2.11% of the Company's share capital and the total number of votes at the Company's General Meeting. The purchase price of the treasury shares is equal to PLN 1.20 per share. The invitation is addressed to all the Company's shareholders. The buyback will be carried out through Dom Maklerski Banku Ochrony Środowiska S.A. The invitation can be found at the company's website:
https://pepees.pl/skup-akcji-wlasnych
investor Relations tab and at the website of Dom Maklerski Banku Ochrony Środowiska S.A:
https://bossa.pl/oferta/rynek-pierwotny/skup-akcji

Offers to sell shares may be submitted between 29 December 2021 and 11 January 2022. The transaction is expected to be concluded and settled on 14 January 2022. The Company will have the right to withdraw from the Invitation both before and after the commencement of acceptance of offers to sell.

The detailed terms and conditions and information on how the buyback will be conducted are contained in the Invitation.The invitation does not constitute a request to subscribe for sale or exchange of shares within the meaning of the Act on Public Offering, Conditions Governing the Introduction of Financial Instruments to Organised Trading, and Public Companies of 29 July 2005.