Receipt of notification of the sale of all indirectly owned shares of Orzeł Biały S.A.

The Management Board of Orzeł Biały S.A. (hereinafter: The Company) hereby announces that on October 16, 2019 it received a notification from the representative of PineBridge New Europa Partners II-A, L.P. (hereinafter: PineBridge) on the execution on October 16, 2019 of the contract for the sale of 100% shares (hereinafter: The Transaction) in NEF Battery Holdings S.a.r.l. based in Luxembourg, between PineBrigde and ZAP Sznajder Batterien S.A. based at Piastów. Before settling The Transaction, PineBrigde owned indirectly, through NEF Battery Holdings S.a.r.l., 10,082,388 shares of The Company, representing 60.55% of the share capital of The Company. As a result of The Transaction settlement, PineBrigde does not directly or indirectly hold The Company’s shares or votes at The Company’s general meeting.

The wording of the notification is submitted by The Company attached.

Legal basis: Art. 70 Cl.1 of the Public Offering Act – acquisition or disposal of a significant block of shares.

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