CPD : 16/2019 Correction of Consolidated Annual Report for 2018

Management Board of CPD S.A. with its seat in Warsaw, hereby publishes the correction of Consolidated Annual Report for 2018, published by the Company on 25 April 2019.

The changes mentioned in this report relate to:

- point '4. CORPORATE GOVERNANCE', page 16 - members of the supervisory board who have knowledge and skills in accounting or auditing financial statements and in the industry in which the Issuer operates were specified;

- point '4. CORPORATE GOVERNANCE', pages 20-21 - members of the audit committee with knowledge and skills in accounting or auditing of financial statements and in the industry in which the Issuer operates were specified. In addition, the requirements in art. 129 par. 1.3.5 and 6 of the Act on statutory auditors, audit firms and public supervision were specified;

- point '20. Evaluation of financial resources management', page 64 - in the content of the assessment, an explanation regarding financing and its justification has been added;

- point '22. Remuneration of the management board and supervisory board', page 65 - in the subsections 'Remuneration of the supervisory board' and 'Remuneration of the management board' an additional explanation was added;

- point '27. AGREEMENT WITH ENTITY AUTHORIZED TO AUDIT FINANCIAL STATEMENTS', pages 67-68 - a description was added indicating 'Main assumptions of the policy of selecting an audit firm' and 'The main assumptions of the audit policy' and information about lack of provision to the Issuer by an auditing company examining its financial statements of permitted non-audit services and, therefore, the need to assess the independence of this audit firm and the lack of consent for the provision of these services;

- section 'Statement of the Management Board', page 71 - the section has been modified and is currently entitled 'Statements of the Management Board and Supervisory Board'. At the same time, bellow statements were added:

• 'Information of the CPD S.A. Management Board on choosing an audit firm',
• 'Statement of Supervisory Board of CPD S.A. regarding the functioning of audit committee in connection with the publication of the standalone and consolidated annual report for 2018',
• 'Statement of Supervisory Board of CPD S.A. in scope of assessment of Management Board's report on activities of CPD S.A. and CPD Capital Group and standalone and consolidated financial statements';

The adjustment has no impact on the financial results, other documents and data published in the abovementioned annual report have not changed either.

The adjusted Consolidated Annual Report for 2018 is attached to this report.

2019 06 27 Consolidated Annual Report for 2018

Legal basis:

15 para. 4 in connection with: §70 para. 1 item 7-8, §70 para. 1 point 14, §70 para. 6 point 5 lit. l, §70 para. 7 point 2, §70 para. 7 point 11, §70 para. 7 point 17, §71 para. 1 items 7-8, §71 para. 1 point 12, §71 para. 5 of the Ordinance of the Minister of Finance of March 29, 2018 regarding current and periodic information published by issuers of securities and conditions for recognizing as equivalent information required by the laws of a non-member state (Journal of Laws of 2018, item 757)

Signatures of persons authorized to represent the Company:

Elżbieta Wiczkowska, President of the Management Board, 27 June 2019