Statement of application of corporate governance standards

Abstract

Effective from 5 November 2010, which is the date when the Company’s shares were admitted to trading on the regulated market, Warsaw Stock Exchange has applied corporate governance standards set out in the “Code of Best Practice for WSE Listed Companies”.

Effective from 5 November 2010, which is the date when the Company’s shares were admitted to trading on the regulated market, Warsaw Stock Exchange has applied corporate governance standards set out in the “Code of Best Practice for WSE Listed Companies”. The document is available on the website www.corp-gov.gpw.pl, which is the official website of Warsaw Stock Exchange devoted to corporate governance of listed companies.

The Company publishes corporate governance compliance information on its website (http://www.gpw.pl/lad_korporacyjny).

The Exchange as a company listed on WSE complied in 2013 with the rules of best practice with one exception described below. On 4 January 2013, the Exchange published a report on the one-off non-compliance, during the Extraordinary General Meeting on 17 January 2013, with the rule of the Code of Best Practice for WSE Listed Companies contained in Chapter IV, point 10(2), concerning participation in a general meeting using electronic communication means through real-time bilateral communication. This derived from the procedure of convening the Extraordinary General Meeting. At the same time, the Exchange enabled the real-time webcast of the meeting.

At the Ordinary General Meeting on 21 June 2013, real-time bilateral communication on-line was enabled. The Company intends to comply with this rule of the Code of Best Practice for WSE Listed Companies in the future.