Rafako S A : CR 41/2020 Curriculum vitae of new Management Board member 18 august 2020

CURRENT REPORT FILED WITH

THE POLISH FINANCIAL SUPERVISION AUTHORITY

DATE: August 18th 2020

Subject: Curriculum vitae of new Management Board member [Current Report No. 41/2020]

As a supplement to Current Report No. 40/2020 of August 12th 2020, the Management Board of RAFAKO S.A. ("RAFAKO", the "Company") announces information on Mariusz Zawisza, a newly appointed President of the Management Board.

Mariusz Zawisza has extensive experience in management and finance. A specialist in restructuring processes, he has a track record of success in improving the efficiency and financial performance of companies. He has held managerial positions for 20 years, managing Poland's largest companies, including those listed on the Warsaw Stock Exchange, and leading strategic business projects, including international ones.

A graduate of the Faculty of Economics of the Maria Curie-Sklodowska University in Lublin, Mr Zawisza has also completed postgraduate studies in management accounting and controlling, and in International Accounting Standards at the Kozminski University in Warsaw. In 2000, he received an MBA from the University of Central Lancashire.

During his professional career he has worked for Zakłady Remontowe Energetyki Lublin S.A., Lubelskie Zakłady Przemysłu Skórzanego Protektor S.A., Instal Lublin S.A., and MPWiK S.A. of Warsaw, where, as a management board member, he was responsible for economic and financial matters. He served as management board member, chief economic and financial officer, and president of the management board of Lubelskie Zakłady Energetyczne LUBZEL S.A. For many years, he managed PGE Dystrybucja Lubzel spółka z o.o. and then PGE Dystrybucja S.A. - the largest company, a Distribution System Operator in Poland. He managed consolidation of the companies that were incorporated into PGE Dystrybucja and completed various optimisation and restructuring programmes, which contributed to generating record-high financial results.

Mr Zawisza was president of the management board of PGNIG S.A. He oversaw the operations of a number of PGNiG Group companies and carried out many efficiency improvement projects. In 2017−2018, he worked for the Zarmen Group, initially as vice president of the management board and chief sales and economic officer at publicly listed company Remak S.A., and then as vice president of the management board and chief financial officer at Koksownia Częstochowa Nowa sp. z o.o. and member of the supervisory board of Remak S.A.

His most recent position was that of president of the management board of Herkules S.A.

As an expert in management, finance, restructuring and business efficiency improvement, he sat on the supervisory boards of multiple companies, including Elektrociepłownia Lublin Wrotków, EPC S.A., Exatel S.A., PGE Systemy S.A., Gaz Trading S.A., Europolgaz S.A., EdF S.A., and Gastel sp. z o.o. He was Chairman of the Board of Directors of PGNIG Upstream International.

Mr Mariusz Zawisza:

1. is not engaged in any activity competing with the business of RAFAKO S.A.;
2. is not a partner in any partnership under civil law or another type of partnership, or a member of a governing body of an incorporated company or any other legal entity competing with RAFAKO S.A.;
3. is not entered in the Register of Insolvent Debtors maintained pursuant to the Act on the National Court Register.

Legal basis:

Par. 5.5 and Par. 10 of the Minister of Finance's Regulation on current and periodic information to be published by issuers of securities and conditions for recognition as equivalent of information whose disclosure is required under the laws of a non-member state, dated March 29th 2018 (Dz.U. of 2018, item 757, as amended).

Mariusz Zawisza - President of the Management Board

Joanna Zwolak - Commercial Proxy