Altus Towarzystwo Fundszy Inwstycyjnych : Current report No. 42/2017

Current Report No. 42/2017 Date of the report: 31 August 2017 Subject: Acquisition of the shares in BPH Towarzystwo Funduszy Inwestycyjnych S.A. by ALTUS Agent Transferowy sp. z o.o. Legal basis: Article 17(1) of the MAR - inside information Body of the Report:

ALTUS Towarzystwo Funduszy Inwestycyjnych S.A. (hereinafter, "ALTUS TFI"), in reference to current report No. 15/2017 of 5 April 2017 regarding the conclusion of a conditional share purchase agreement regarding 100% of the shares in BPH Towarzystwo Funduszy Inwestycyjnych S.A. (hereinafter, "BPH TFI"), announces that on 31 August 2017, pursuant to an agreement on the transfer of the shares in BPH TFI, ALTUS Agent Transferowy sp. z o.o., a wholly owned subsidiary of ALTUS TFI, acquired from BPH PBK Zarządzanie Funduszami Sp. z o.o. 100% of the shares in BPH Towarzystwo Funduszy Inwestycyjnych S.A. for the price of PLN 20,000,000.00 (the "Purchase Price").

Please note that the conditional share purchase agreement regarding the acquisition of the shares in BPH TFI provides for a Purchase Price adjustment mechanism agreed by the parties which includes an adjustment to account for changes in the book value less any intangible and legal values of BPH TFI in the period from 31 December 2016 and the date of transfer of the ownership title to the shares in BPH TFI. In accordance with the above-mentioned mechanism, the value of the Purchase Price may be subject to the following changes:

1. if the difference between the book value of BPH TFI less the value of intangible and legal assets adopted for the purposes of the determination of the Purchase Price of PLN 36,900,000 and the book value of BPH TFI less the value of intangible and legal assets determined on the date of completion of the transaction is positive, the final Purchase Price will be decreased by the value of such difference, and the difference will be reimbursed by the Seller to the Purchaser; and

2. if the difference between the book value of BPH TFI less the value of intangible and legal assets adopted for the purposes of the determination of the Purchase Price of PLN 36,900,000 and the book value of BPH TFI less the value of intangible and legal assets determined on the date of completion of the transaction is negative, the final Purchase Price will be increased by the value of such difference, and the difference will be paid by the Purchaser to the Seller.

The changes of the Purchase Price resulting from the change of the book value of BPH TFI less the value of intangible and legal assets on the date of completion of the transaction are subject to other restrictions determined in the conditional share purchase agreement regarding the acquisition of the shares in BPH TFI.

ALTUS TFI will announce the value of the Final Purchase Price for 100% of the shares in BPH TFI immediately after the parties to the transaction determine the value of the adjustment of the Purchase Price made in accordance with the above-referenced mechanism.

Signatures of the individuals representing the company:

Jakub Ryba - Member of the Management Board Andrzej Ladko - Member of the Management Board

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