Current Report No.: 12/2022

Date of preparation: 19.04.2022

Abbreviated name of the Issuer: CIECH S.A.

Subject: Forecast of the CIECH Group's result in 2022 and estimated selected results of the CIECH Group in the first quarter of 2022.

Legal basis: Art. 17.1 of the MAR – inside information.

Text of the report:

The Management Board of CIECH S.A. (the “Issuer” or “Company”) herewith presents, below and attached to this report, a forecast of selected financial results of the CIECH Group in 2022 (“Forecasted Results”) and an estimate of the generated selected results of the CIECH Group in the first quarter of 2022 (the “Estimated Results”).

The Management Board of the Issuer forecasts that in 2022 the CIECH Group will achieve:

1. consolidated sales revenues: ranging between PLN  4.300 million and PLN 4.500 million;
2. consolidated normalised EBITDA: ranging between PLN  740 million and PLN 780 million.

The forecast was prepared based on the current market, operational and financial situation of the CIECH Group.

In the event of a significant change in the possibility of achieving the Forecasted Results, the Management Board of the Issuer will provide such information to the public in the form of a current report.

The Forecasted Results were prepared after the end of the first quarter of 2022, which was of key importance for the functioning of the CIECH Group and in which, among others, the contracting process for the CIECH Group’s products for 2022 finished. The Management Board of the Issuer estimates that in the first quarter of 2022 the CIECH Group achieved:

1. consolidated sales revenues: ranging between PLN  1.200 million and PLN 1.250 million;
2. consolidated normalised EBITDA: ranging between PLN  225 million and PLN 235 million.

The final consolidated results of the CIECH Group for the first quarter of 2022 will be published by the Management Board of the Company on 19 May 2022, in the consolidated financial report.

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)

Signatures of the Company’s representatives:

Dawid Jakubowicz – President of the Management Board  

Jarosław Romanowski - Member of the Management Board