ZPC Otmuchow : Current report No. 27/2016

Otmuchow, September 29th 2016

Current report no 27/2016

Subject: Changes in the Management Board of ZPC Otmuchów SA.

ZPC Otmuchów SA (The Company, the Issuer) announces that on 29th September 2016 Mr Mariusz Popek resigned from his position as President of the Management Board with effect from 30th September 2016. Mr Mariusz Popek did not indicate the reasons for his resignation. In addition, the same day his resignation from the Vice President of the Management Board with effect from 30th September 2016 made Mr. Bartlomiej Bien. Mr. Bartlomiej Bien also did not indicate the reasons for his resignation.

The Company also announces that on 29th September 2016 Supervisory Board delegated, with effect from 1st October 2016, Mr Boguslaw Szladewski on the position of Vice President of the Management Board and delegated from October 1st 2016 Mr Przemysław Danowski, previously the acting Chairman of the Supervisory Board, to temporarily perform the duties of the President of the Management Board till pending the appointment of a new President of the Management Board, but no longer than a period of three months, ie. 31 December 2016. In connection with the posting of Mr Przemysław Danowski to perform the duties of the President Management Board, the Supervisory Board dismissed Mr Przemyslaw Danowski with the President of the Supervisory Board and delegated this function to Mr Jacek Giedrojć.

According to the decision of the Supervisory Board mandate of Mr Boguslaw Szladewski as a member of the Management Board shall expire simultaneously with the expiry of the mandate of the remaining member of the Management Board.

Current report ZPC OTMUCHOW S.A.

Information on education, qualifications and employment history along with a description of their careers appointed managers are presented below:

Mr Przemyslaw Danowski

Positions held with career description:

2015 - now Warsaw Equity Group - Member of Management Board 2011 - 2015 Warsaw Equity Group - Investment Director

2009 - 2011 Warsaw Equity Holding sp. z o.o. - Investment Manager 2006 - 2009 Trigon Group - Analyst

2006 - 2009 InterGlobal FB Group - Analyst

Nowadays, Mr Przemyslaw Danowski is holding indicated positions in Supervisory Boards: 2015 - now ZPC Otmuchow SA - Member of the Supervisory Board

2012 - now Artifex Mundi Sp. z o.o. - Member of the Supervisory Board 2011 - now Vigo System SA - Member of the Supervisory Board

During last 5 years Mr Przemyslaw Danowski was holding indicated positions in Supervisory Boards:

2011 - 2102 WEH Inwestycje t - Member of the Supervisory Board

2012 - 2012 Polski Fundusz Hipoteczny SA - Member of the Supervisory Board 2011 - 2013 Iplex SA - Member of the Supervisory Board

Education and qualifications:

Mr Przemyslaw Danowski has a diploma of a Master of Economy, he is a graduate of Szkola Glowna Handlowa (Finances and banking). He also hold a title of CFA.

Mr Boguslaw Szladewski

Positions held with career description:

2013 - 2016 Uzdrowiska Klodzkie SA - Grupa PGU - Vice President of the Management Board

2015 - 2016 Staropolanka Sp. z o.o. - President of the Management Board

2015 - 2016 KIG PR Krajowa Izba Gosp. Przemysłu Rozlewniczego - Member of the Supervisory Board

2011 - 2013 Mokate Sp. z o.o. - Marketing Director / Director of the coffee category) 2009 - 2011 Global Coffee Group - Commercial Director

2004 - 2009 Global Trade Coffee sp. z o.o. - Sales Director

1997 - 2004 Cash & Candy sp. z o.o. - 3 months as the Sales Representative, next for 2 years as the Regional Manager (24 SR), next for 4 years as the National Key Account Manager Education and qualifications:

1996 - 2002 Uniwersytet Slaski

Passed exam for members of the Supervisory Boards.

According to the submitted declarations Mr Przemyslaw Danowski and Mr Boguslaw Szladewski do not lead activities outside the Issuer which would be competitive, do not participate in the company competitive as a partner in a civil partnership or as a member of a body of a Management of the company, also they do not participate in any other competitive legal entity as a member of its body. Both of members of the Management Board declared also, they have not been entered into the Register of Insolvent Debtors maintained in accordance to the Act on KRS. Detailed legal basis: § 5 sec. 1 point. 21 and 22 of the Regulation of the Minister of Finance dated 19 February 2009 in current and periodic information [...].