Legal basis: Article 56 (1)(2) of the Act on Public Offering - current and periodic information

POLNORD SA ('Polnord', the 'Company') hereby informs that on 14 December 2015 Mr. Piotr Wesołowski has resigned from his membership in the Management Board of the Company and the position of the President of the Management Board of the Company, effective as of 31 December 2015. Moreover, on 14 December 2015 Mr. Tomasz Sznajder has also resigned from his membership in the Management Board of the Company and the position of the Vice-President of the Management Board of the Company, effective as of 31 December 2015.

The Supervisory Board of the Company, at its meeting held on 14 December 2015, appointed as of 15 December 2015, upon the request of the President of the Management Board, the following persons to the Management Board of Polnord within the current term of office:

(i) Mr. Jerzy Kamiński as Member of the Management Board, and
(ii) Mr. Jerzy Kotkowski as Member of the Management Board.

Moreover, the Supervisory Board of the Company appointed as of 1 February 2016 Mr. Dariusz Krawczyk to the Management Board of Polnord, within the current term of office, to act as President of the Management Board of the Company.

The Members of the Management Board are appointed for the joint three-year term of office (2014 - 2017).

According to the submitted statements, the new Members of the Management Board are not engaged in any competitive business with respect to the scope of activities of Polnord and do not participate in a competitive company in relation to the Company as shareholders of a civil partnership or any other partnership or as members of the governing body of a capital company, nor participate in another competitive legal entity as members of its governing body. The above mentioned persons are not entered in the Register of Insolvent Debtors maintained pursuant to the Act on the National Court Register.

Attached are the Curricula Vitae of the new Members of the Company's Management Board.

Legal basis: Pursuant to § 5 (1) point 21 and 22 of the Regulation of the Minister of Finance of 19 February 2009, regarding current and periodic information submitted by issuers of securities and the terms governing recognition of information required by the laws of a non-member state as equivalent information.

SIGNATURES OF THE COMPANY'S REPRESENTATIVES

2015-12-14 Piotr Wesołowski President of the Management Board

2015-12-14 Tomasz Sznajder Vice-President of the Management Board

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