CD Projekt S A : Current report no. 5/2021

Subject: Change in decision concerning diversification of investment of surplus cash assets held by the Company

Legal basis: Art. 17 of MAR - inside information

In relation to information disclosed in Current Report no. 4/2020 of 6 May 2020, the Management Board of CD PROJEKT S.A. with a registered office in Warsaw at Jagiellońska 74 (hereinafter referred to as 'the Company') hereby publicly discloses its decision to modify existing policies concerning diversification of surplus current cash. The amended policy specifies that debt instruments held by the Company may account for not more than 50% of the Company's current financial assets, which are defined as the sum of the following: cash and cash equivalents, bank deposits with maturity periods longer than 3 months, Polish State Treasury bonds, other bonds guaranteed by the Polish State Treasury and bonds issued by foreign governments, estimated at the price specified in the corresponding forward contract hedges. Such assets may assume the form of the following low-risk debt instruments:

a) domestic State Treasury bonds

b) domestic bonds guaranteed by the State Treasury

c) foreign treasury bonds issued by the USA, Germany and Switzerland.

The foreign exchange rate risk associated with holding foreign bonds will be mitigated by entering into offsetting purchase transactions concerning derivative instruments, particularly forward currency sale contracts.

Disclaimer: This English language translation has been prepared solely for the convenience of English speaking readers. Despite all the efforts devoted to this translation, certain discrepancies, omissions or approximations may exist. In case of any differences between the Polish and the English versions, the Polish version shall prevail. CD PROJEKT, its representatives and employees decline all responsibility in this regard.