Current report no. 28/2022

Legal basis: Article 17 sec. 1 of the MAR - Confidential information.

Subject: Change of the loan agreement concluded by the Company

Management Board of VRG S.A. with its registered office in Kraków ( the "Company") informs that on June 28, 2022, documentation was concluded regarding the amendment of the multi-purpose limit credit agreement of March 9, 2015, as amended. amendments to the agreement concluded between Powszechna Kasa Oszczędności Bank Polski S.A. with its registered office in Warsaw (hereinafter: the "Bank") and the Company (hereinafter: the "Multi-purpose Loan Agreement"), about which the Company informed in current reports No. 8/2015, 57/2016, 37/2017 and 36/2020.

Amendments to the Multi-purpose Loan Agreement include the extension for a period of 24 months,  until June 27, 2024, of the multi-purpose credit limit up to the amount of PLN 92,000  consisting of the following sublimits:

1) Overdraft limit up to the sum of PLN 37,000;

2) Multi-Purpose Loan Limit, which consists of a bank guarantee limit of up to PLN 35,000 and the limit for letters of credit up to the amount of PLN 35,000 .

The Bank's claims under the Multi-Purpose Loan Agreement are secured by:

1) civil law surety of a subsidiary of the Company, i.e. W.KRUK S.A. with its registered office in Kraków up to the amount of PLN 55,000, with the proviso that the Bank will release the surety after monitoring the Company's results for the second quarter of 2022 and after positive verification of the financial covenants contained in the Multi-Purpose Loan Agreement, the content of which, however, does not differ significantly from the market standards applied in similar agreements,

2) a declaration of submission to enforcement pursuant to art. 777 of the Code of Civil Procedure,

3) other securities, with the proviso that the following securities are also security for the loan granted to the Company by the Bank under the term loan agreement (Loan A) of March 9, 2015, as amended. d. up to the amount of PLN 47,600 , about which the Company informed in current reports No. 8/2015 and 57/2016, which are:

a) a registered pledge on the inventories belonging to the Company ("Inventories") with a value not lower than PLN 125,000,000;

b) registered pledge on the mark "Vistula",

c) registered pledge on the mark "Wólczanka",

d) registered pledge on the shares of W.KRUK S.A. held by the Company,

e) transfer of rights under the Inventory insurance contract,

f) an agreement concluded between the Bank and the Company regulating the settlement of payment transactions made by the Company's contractors with the use of bank cards.