The acceptance of the Issuer’s bid in the tender organised by the Energy Regulatory Office (URE)

The Board of Directors of Przedsiębiorstwo Przemysłu Spożywczego “PEPEES” S.A. (“the Company”, “the Issuer”) hereby informs that, on 7 July 2016, they were notified about the selection by the Energy Regulatory Office (URE) of the bid made by the Company in the tender procedure concerning the selection of projects to improve energy efficiency. Therefore, the Issuer will be granted PMEF energy efficiency certificates (the so-called ‘white certificates’) with the net value (i.e. after deduction of costs and fees) of ca. PLN 1.2 million according to the current valuation of this category of certificates on the Polish Power Exchange (TGE). The bid submitted by the Issuer listed the projects, implemented in 2012-2015, regarding the assembly of a heat recovery ventilation in a protein recovery station, and the upgrade of the corporate heat distribution network.Following the fulfilment of formalities related to the Issuer’s contracting, the said certificates will be sent to the Company until the end of the third quarter of 2016.
The Issuer intends to sell the obtained certificates on TGE in accordance with the current transaction prices, which will have a significant impact on the Company's financial results.
Signatures of the Company’s representatives

President of the Board of Directors Wojciech Faszczewski 07/07/2016