Grupa Zywiec S A : Amendment of the Management Board’s decision of payment of an interim dividend towards foreseen dividend for the financial year 2020

10.11.2020

Current report No. 30/2020

Amendment of the Management Board's decision of payment of an interim dividend towards

foreseen dividend for the financial year 2020

The Management Board of Grupa Zywiec S.A. informs that:

The Management Board of the Company decided to repeal its resolution of 5 November 2020 on the payment of an advance on the expected dividend for the financial year 2020, in the amount of PLN 14 per share (Current Report No. 29/2020 of 5 November 2020).

Following a re-examination of the Company's financial position, the, according to par. 31 item of the Company's Statutes and Article 349 of the Commercial Companies Code, the Management Board of the Company in resolution of 10th November 2020, decided to pay an interim dividend towards foreseen dividend for the financial year of 2020 in amount of PLN 16 .00 ( sixteen) for one share, taking into account the fact the Company has sufficient resources to pay such interim dividend. The Management Board decided that the approved financial statements for 2019 proved the profit, and the total amount of PLN 164.341.392 ( words: one hundred and sixty-four million, three hundred and forty-one thousand, three hundred and ninety-two), allocated to pay interim dividend does not exceed a half of the profit made by the Company from the end of the financial year 2019, proved in the financial statements of the Company as of 30 September 2020 , which were examined positively by an auditor by the opinion of 30 October 2020, increased by the amount the reserve funds created from profits from the purpose of future dividend payments, which are under control by Management Board, and decreased by not covered losses and own shares

The Management of the Company decided that the shareholder of the Company who will own the shares on 14 December of 2020 shall be entitled to the interim dividend ( the day of establishing the right to the interim dividend.)

The Management Board decided that the payment of the interim dividend shall commence on 21 December of 2020 ( the day of payment the interim dividend).

In view of the best interests of the Company, the Management Board of the Company again made reservation that the planned payment of an advance on the dividend for the financial year 2020 will be made provided that the economic and financial situation of the Company by the date of the planned payment does not deteriorate to an extent that could, in the opinion of the Management Board, significantly affect the level of expected profit for the financial year 2020.

The payment of the interim dividend towards foreseen dividend for the financial year 2020 requires approval of the Supervisory Board, of which the Company will inform in separate announcement. Legal basis : Art 17 point 1 MAR