BOGDANKA S.A. (the “Company”) on general terms, which resulted in eligible persons obtaining the right to free of charge acquisition of series B shares (the “Shares” or “Series B Shares”). The currently ongoing process of making the Shares available free of charge will end on 9 March 2012.*

In view of the deadline for the lock-up restrictions, elapsing on 8 December 2011, the Management Board of the Company took the necessary steps to enable trading in the indicated Shares on Giełda Papierów Wartościowych w Warszawie S.A. (the “Warsaw Stock Exchange”, the “WSE”).

In particular, on 29 November 2011, an issue prospectus was submitted to the Polish Financial Supervision Authority (the “FSA”). Following its approval, which shall occur in January 2012, Series B Shares may be disposed of on the WSE.

It should be remembered that disposal of the Shares on the WSE is conditional upon having an investment (brokerage) account and having the Shares owned by eligible persons deposited therein.

The Shares owned by eligible persons, who at the stage of concluding the agreement with the State Treasury opened investment accounts at Dom Inwestycyjny BRE Banku S.A., will be automatically registered in their investment accounts.

The eligible persons who upon signing the agreement on free of charge acquisition of Shares with the State Treasury failed to open an investment account at Dom Inwestycyjny BRE Banku S.A. may open it and submit an instruction to deposit the owned Shares in that account:

• at the Customer Service Office of Dom Inwestycyjny BRE Banku S.A., in Lublin, ul. Krakowskie Przedmieście 6, tel.: +48 81 532 94 13, or
• between 8 and 16 December 2011, from 9am to 3pm, at a temporary Customer Service Office of Dom Inwestycyjny BRE Banku S.A., tel.: +48 81 462 54 05, located in the Company’s Office (in Bogdanka, Pithead, room 221).

All detailed information concerning the process will be available in those offices.

On the other hand, any eligible persons who have investment accounts at brokerage houses other than Dom Inwestycyjny BRE Banku S.A. may submit an instruction to deposit the owned Shares in their own accounts from 12 to 16 December 2011:

• from 9am to 5pm, at the Customer Service Office of Dom Inwestycyjny BRE Banku S.A., in Lublin, ul. Krakowskie Przedmieście 6, tel.: +48 81 532 94 13, or
• from 9am to 3pm, at a temporary Customer Service Office of Dom Inwestycyjny BRE Banku S.A., tel.: (81) 462 54 05, located in the Company’s Office (in Bogdanka, Conference Room on the 2^nd floor, room 221, Pithead).

The Shares owned by eligible persons who fail to submit the deposit instruction will be registered on the issue sponsor’s account, which is operated by Dom Inwestycyjny BRE Banku S.A. In such a case, trading in those Shares will be possible only after prior depositing thereof in an individual investment account. For that purpose, starting as of the first listing day of Series B Shares on the WSE, the eligible persons will be able to obtain from the Customer Service Office of Dom Inwestycyjny BRE Banku S.A., in Lublin, ul. Krakowskie Przedmieście 6, a document confirming the acquisition of those Shares, which should be submitted to the entity operating the eligible person’s investment account.

Information concerning the date of the first listing of the Shares will be announced in the Company’s current report and published on the Company’s website.

In case of any doubts, please do not hesitate to contact the Company at (81) 462 56 11, (81) 462 56 29.

*The date of 9 March 2012 does not apply to the heirs of eligible employees deceased before that date, who shall inform the Company by 9 March 2012 that on 9 March 2012 at the latest they submitted to the court an application for inheritance ascertainment, or they shall produce to the Company a registered inheritance certificate prepared by a notary public. Such heirs have 24 months from the date of the court’s decision on inheritance ascertainment becoming final and legally binding or one month from the date of producing the inheritance certificate to conclude the agreement on free of charge acquisition of Shares.