RB: 32/2021
Date: 1 October 2021
Acquisition, by the eligible individuals, of series E shares in the Company in exchange for series G, H and I subscription warrants
Legal basis: Art. 17 item 1 of MAR – inside information.

Text of the report:

The Management Board of Benefit Systems S.A. with its registered office in Warsaw (hereinafter, the "Company" or the "Issuer") hereby announces that in exercising of the rights derived from the series G, H and I subscription warrants (the "Warrants"), vested as part of the 2017-2020 Incentive Plan (the "Plan"), as at 30 September 2021, 31 participants in the Plan filed, with the Company, declarations to take up a total of 39,255 series E ordinary bearer shares (in exchange for 39,255 Warrants) and paid the issue price of the E shares (i.e. PLN 491.93 per share) into the Company's account.

The issue of series E shares in exchange for Warrants was carried out based on articles 453 and 451 of Commercial Companies Code and in line with the rules of the Plan, as set forth in resolutions 20/15.06.2016 and 21/15.06.2016 of the General Meeting of the Company (that the Company announced in current report No. 18/2016 of 15 June 2016) and resolution of Supervisory Board of 9 November 2016.

The rights attaching to the E series shares of the Company will arise as of the moment of recording the shares in the securities accounts of the eligible individuals. In connection with the issue of the E series shares, the Company will file the appropriate applications with the National Depository for Securities (KDPW S.A.) and with the Warsaw Stock Exchange (GPW S.A.) to register the E series shares and introduce them to trading on the regulated market (about
which the Company will inform in accordance with the applicable law).

In connection with the above-mentioned subscription for series E shares of the Company, there was a change of rights from 39,255 Warrants. Out of 300 warrants, the right to subscribe for series E shares of the Company was not exercised, therefore these warrants expired. In total, under the Program, the Company granted 75,000 Warrants (under the Program: 35,145 Warrants were exercised in September 2020, as the Company informed in report No. 31/2020 of September 30,
2020, 300 Warrants were exercised in September 2019. The issue of the Company's shares in exchange for above-mentioned warrants under the Program was announced by the Company in the report No. 10/2020 of April 1, 2020 and the report No. 41/2020 of November 6, 2020).