Report No. 7/2022 - Motion of the Management Board of Stalexport Autostrady S.A. on apportionment of net profit for the year 2021 and payment of dividend

The Management Board of Stalexport Autostrady S.A. (hereinafter called “Company”) informs that on 28 February 2022 adopted a resolution on presenting to the Company’s Supervisory Board and the Ordinary General Meeting motion on apportionment of net profit for the year 2021 and payment of dividend as follows:

“The Management Board of Stalexport Autostrady S.A. proposes herewith to:

1. to allocate net profit for the financial year 2021 in amount of PLN 57,723,468.52 (say: fifty seven million seven hundred twenty three thousand four hundred sixty eight zlotys fifty two groszy) in total for payment of dividend;
2. pay dividend to Company's shareholders in the total amount of PLN 59.342.885,52 (say: fifty nine million three hundred forty two thousand eight hundred eighty five zlotys and fifty two groszy), which means that the dividend shall amount to PLN 0.24 (say: twenty four groszy) per one share, whereas the amount of payable dividend consists of:

1. funds from distribution of net profit for the financial year 2021 in the amount of PLN 57,723,468.52 (say: fifty seven million seven hundred twenty three thousand four hundred sixty eight zlotys fifty two groszy),
2. funds accumulated on retained earnings derived from the profit generated by the Company in previous years, in the amount of PLN 1,226,260.98 (say: one million two hundred twenty six thousand two hundred sixty zlotys, ninety eight groszy)
3. funds accumulated on reserve capital in the amount of PLN 393,156.02 (say: three hundred ninety three thousand one hundred fifty six zlotys, two groszy).

 Justification

Pursuant to Art. 395 § 2(2) of the Code of Commercial Companies and Partnerships and to § 24(1)(2) of the Company’s Statutes, the agenda of the Ordinary General Meeting should include adoption of a resolution on profit distribution or loss coverage.

Proposing the dividend amount, the Management Board took into account, among other things, the following relevant aspects:

1. the financial results achieved by the Company and the Company's Group in 2021,
2. the investment needs resulting from the implementation of the strategy of the Stalexport Autostrady S.A. Group,
3. the liquidity needs of the Stalexport Autostrady S.A. Group, which will depend on current and expected market conditions, the amount of liabilities related to current activities and debt servicing, and optimisation of the financing structure of the Stalexport Autostrady S.A. Group’s activities.”

The above mentioned motion of the Company’s Management Board requires evaluation and opinion of the Supervisory Board of the Company.

The final decisions on the apportionment of net profit for turnover year 2021 and dividend payment to the Company’s shareholders including the determination of the dividend record date and the dividend payment date, will be made by the Ordinary General Meeting of the Company.

Legal Basis:

Article 17(1) of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (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.