Boryszew : Announcement of the squeeze-out of shares in Hutmen S.A.

Further to the current report No. 69/2016 of 21 December 2016 pertaining to information on the

intention to acquire shares in Hutmen S.A. under the squeeze-out, the Management of Boryszew S.A.

hereby gives notice that Boryszew Spółka Akcyjna and subsidiaries comprised by the BORYSZEW

Capital Group, i.e. a company styled SPV Boryszew 3 Sp. z o.o. based in Warszawa, a company

styled Impexmetal S.A. based Warszawa, a company styled Impex - Invest Sp. z o.o. based in

Warszawa, and a company styled SPV Impexmetal Sp. z o.o. based in Warszawa, acting jointly, on 12

January 2017 announced a squeeze-out of shares in Hutmen S.A. held by all other shareholders of

the said company.

Boryszew S.A. including subsidiaries hold in total 23,046,290 shares in Hutmen S.A., representing

approximately 90.04 % of share capital and total number of votes at the general meeting.

The subject of Squeeze-out are all remaining shares in Hutmen S.A., i.e. 2,549,980, constituting

approximately 9.96% of share capital of Hutmen S.A. and total number of votes at the general

meeting. The acquiring entity shall be Boryszew S.A.

The Squeeze-out date was set for 17 January 2017, whereas the squeeze-out price amounts to PLN

5.31 per one share in Hutmen S.A. As of the squeeze-out date, the proprietors of shares covered by

the squeeze-out shall be deprived of their rights under the shares, which shall take place by way of

recording the shares on the securities account of Boryszew S.A.

Detailed terms and conditions of the Squeeze-out were laid out in the publicly disclosed 'Information

on intention to acquire shares in Hutmen Spółka Akcyjna under the squeeze-out' prepared in line with

the requirements defined in the Ordinance of the Minister of Finance of 14 November 2005 on the

acquisition of shares in a public company by way of a squeeze-out (Dz. U. No. 229, item 1948).

Signatures:

Jarosław Michniuk - President of the Board

Translation from the original Polish version.

In the event of differences resulting from the translation, reference should be made to the official

Polish version.