Ursus : Conclusion of forward exchange transactions with mBank S.A.

Conclusion of forward exchange transactions with mBank S.A.

Legal basis:

Art. 56 sec. 1 point 2 of the Act on Public Offering - current and periodical information

Message:

The Management Board of URSUS S.A. hereby informs that on the 27th June 2016 the Issuer concluded with mBank S.A. with the seat in Warsaw forward sales transactions:

- of the value 10.000.000 USD with the exchange rate 4,0241 PLN and the settlement date the 28 September 2016;

- of the value 10.000.000 USD with the exchange rate 4,0041 PLN and the settlement date the 28 September 2016;

- of the value 5.000.000 USD with the exchange rate 4,0579 PLN and the settlement date the 29 December 2016;

- of the value 10.000.000 USD with the exchange rate 4,0579 PLN and the settlement date the 29 December 2016;

The total value of the above-mentioned transactions is 35.000.000 USD, what exceeds 10% of the Issuer's equity and thus it meets the significant agreement criterion.

These transactions are concluded on market conditions not differing from the standard terms commonly used in this kind of transactions and do not contain any provisions regarding contractual penalties.

The total value of all concluded and unsettled by the Issuer forward exchange transactions of the day of this report is 60.000.000 USD. Their settlement will take place in the third and fourth quarter of 2016.

All exchange transactions of the Issuer are executed in accordance with the Financial Risk Management policy assumed by the Issuer, within the Integrated Financial Risk Management System implemented in the Company, concerning the exposure resulting from the Company's contracts settled in foreign currencies.

The legal basis of the present report is §5 sec.1 point 1 and point 3 in connection with §9 of the Regulation of the Minister of Finance dated 19 February 2009 regarding current and interim reports published by issuers of securities and the terms of finding as equivalent the information required under the laws of any non-member state (Journal of Laws, 2009 No 33, point 259 with subsequent changes).