Pkp Cargo S A : Changes in the composition of the PKP CARGO S.A. Management Board

The Management Board of PKP CARGO S.A. ("Company", "PKP CARGO") hereby reports that on 13 January 2022, following a recruitment procedure, the Company's Supervisory Board adopted a resolution to appoint Mr. Marek Olkiewicz to the PKP CARGO Management Board with effect from 3 February 2022. The Company's Supervisory Board entrusted him with the function of PKP CARGO S.A. Management Board Member in charge of Operations.

Information on the education, qualifications and professional career of the newly appointed Management Board member is presented in the attachment to this current report.

According to the submitted declaration, Mr. Marek Olkiewicz does not conduct any activity competitive to that of the Company and is not involved in any competing company as a partner in a civil law company, partnership or capital company or does not participate in another competing legal person as a member of its corporate body; he is also not listed in the Insolvent Debtor Register kept pursuant to the KRS Act.

At the same time, the PKP CARGO Management Board hereby reports that the Company's Supervisory Board, on 13 January 2022, adopted a resolution by which it decided to second Mr. Władysław Szczepkowski, PKP CARGO Supervisory Board Member, to act in the capacity of President of the PKP CARGO S.A. Management Board for a period not longer than 3 months and to entrust him with discharging the duties of President of the PKP CARGO Management Board. The Supervisory Board resolution came into force on the date of its adoption.

As a result of these changes:

(a) the PKP CARGO S.A. Management Board is now composed of the following persons:

Władysław Szczepkowski - Acting President of the Management Board,

Zenon Kozendra - Management Board Member, Employee Representative,

(b) as of 3 February 2022, the PKP CARGO S.A. Management Board will be composed of the following persons:

Władysław Szczepkowski - Acting President of the Management Board,

Marek Olkiewicz - Management Board Member in charge of Operations,

Zenon Kozendra - Management Board Member, Employee Representative.

The Company's Supervisory Board also adopted a resolution to complete the recruitment procedure for the following positions: President of the PKP CARGO S.A. Management Board, PKP CARGO S.A. Management Board Member in charge of Finance and PKP CARGO S.A. Management Board Member in charge of Commerce, without making any decision, to start a new recruitment procedure for the following positions: President of the PKP CARGO S.A. Management Board, PKP CARGO S.A. Management Board Member in charge of Finance and PKP CARGO S.A. Management Board Member in charge of Commerce.

Legal basis:

5 Item 5 of the Regulation issued by the Minister of Finance on 29 March 2018 on the Current and Periodic Information Transmitted by Securities Issuers and the Conditions for Recognizing the Information Required by the Regulations of a Non-Member State as Equivalent.