PGNiG: Acquisition of Treasury Shares

Further to current report No. 80/2016 dated 25 August 2016 and current report No. 84/2016 dated 26 August 2016, the Management Board of Polskie Górnictwo Naftowe i Gazownictwo S.A. (“PGNiG”, the “Company”) announces that the Company has today acquired 92,764,327 (ninety two million seven hundred sixty four thousand three hundred twenty seven) ordinary dematerialised bearer shares issued by the Company, with a nominal value of PLN 1 (one) each (the “Treasury Shares”).
The aggregate nominal value of the Treasury Shares amounts to PLN 92,764,327 (ninety two million seven hundred sixty four thousand three hundred twenty seven), which represents 1.57% of the share capital of the Company. The Treasury Shares carry a total of 1.57% votes at the general meeting of the shareholders, which represents 1.57% of the total number of votes in the Company; however, in accordance with Art. 364 § 2 of the Commercial Companies Code the Company does not exercise voting rights attached to the Treasury Shares. The Treasury Shares have been acquired at a uniform price of PLN 5.39 (five and 39/100 zloty) per share and for the aggregate price of PLN 499,999,722.53 (four hundred ninety nine million nine hundred ninety nine thousand seven hundred twenty two and 53/100 zloty) for all of the shares.
Apart from the Treasury Shares, the Company does not hold any shares issued by the Company.
The acquisition of the Treasury Shares has been effected under Art. 362 § 1(3) of the Commercial Companies Code and in compliance with the authorisation granted under resolution No. 5/2016 of the extraordinary general meeting of the shareholders dated 25 August 2016 on granting the management board of PGNiG S.A. authorisation to acquire of treasury shares in the Company for the purpose of redeeming such and resolution No. 6/2016 of the extraordinary general meeting of the shareholders dated 25 August 2016 supplementing resolution No. 5/2016 of the extraordinary general meeting of the shareholders dated 25 August 2016 on granting the management board of PGNiG S.A. authorisation to acquire treasury shares in the Company for the purpose of redeeming such.