Changes in the composition of The Company’s Management Board.

The Management Board of Orzeł Biały S.A. (“The Issuer”, “The Company”) hereby announces that on October 15, 2019, The Company’s Supervisory Board adopted resolutions pursuant to which Mr Konrad Sznajder was appointed to act as a Member of The Company’s Management Board with immediate effect for a joint term of three years. In addition, The Company’s Supervisory Board decided to suspend Mr Michael Rohde Pedersen in performing the duties of the President of the Management Board – Chief Executive Officer, with immediate effect, for a period of three months. At the same time, pursuant to the resolution, it entrusted Mr Konrad Sznajder with the duties of the President of the Management Board for a period of three months with immediate effect.
According to the statement, the newly appointed Member of the Management Board does not conduct any competitive activity in relation to Orzeł Biały S.A. nor does he participate in a competitive company as a partner in a civil law partnership, personal partnership or as a member of the governing body of a competitive capital company or a member of any competitive legal entity.
The newly appointed member of the Management Board is not entered in the Register of Insolvent Debtors kept pursuant to the National Court Register Act.

The CV of the new Board Member is attached.

Legal basis: MFR GPW § 5 Cl. 4 and 5

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