Current report no.: 9/2018 

Date of preparation: 2018-05-24

Abbreviated name of the Issuer: CIECH S.A.

Subject: Assessment of the application of the Management Board of CIECH S.A. regarding allocation of profit for 2017 and payment of dividend

Legal basis: Article 17.1 of the MAR – Inside Information

Contents of the report:

The Management Board of Ciech S.A. (the "Issuer" or “Company”) herewith informs that on 24 May 2018, the Supervisory Board of the Company, upon review of the application by the Management Board of the Company to be proposed at the Annual General Meeting, as expressed in Resolution of the Management Board of CIECH S.A. of 23 May 2018, on the allocation of the net profit generated by the Company in 2017 and payment of dividend, adopted a resolution with the following recommendations to the Annual General Meeting:

1. to allocate the net profit generated by the Company in 2017, in the amount of PLN 243,907,228.06 (in words: two hundred and forty-three million nine hundred and seven thousand two hundred and twenty-eight and 06/100 Polish Zlotys) to the payment of dividend,

2. to transfer the amount of PLN 151,342,089.44 (in words: one hundred and fifty-one million three hundred and forty-two thousand eighty-nine and 04/100 Polish Zlotys) from the reserve capitals created from profits, in order to allocate it to the payment of dividend, 

3. to distribute dividend in the amount of PLN 395,249,317.50 (in words: three hundred and ninety-five million two hundred and forty-nine thousand three hundred seventeen and 50/100 Polish Zlotys), i.e. PLN 7.50 per share from the net profit of the Company for 2017, increased by the amount transferred from the reserve capital created from profits. 

The Issuer published information on the approval by the Management Board of the Issuer of a resolution on the proposal of the allocation of the net profit of the Issuer for the financial year 2017 and payment of divided in its current report no. 8/2018 of 23.05.2018

At the same time, the Company informs that the final decision on the allocation of the net profit for 2017 and payment of dividend will be made by the Annual General Meeting of CIECH S.A

Legal basis: Article 17.1 of the Regulation of the European Parliament and of the Council (EU) No. 596/2014 of 16 April 2014 on Market Abuse (the Market Abuse Regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC (Official Journal of the European Union L No. 173, p. 1) (the “MAR”).

Signatures of individuals representing the company:

Maciej Tybura - President of the Management Board
Artur Osuchowski – Member of the Management Board