Current report no. 37/2019

Legal basis: Art. 70 pt 1 of  Ustawa o ofercie (the Act on Public Offering)

Subject: Notification regarding a significant block of shares

VRG S.A. joint stock company with its registered office in Cracow ("the Company") informs that it has received from IPOPEMA Towarzystwo Funduszy Inwestycyjnych S.A. (IPOPEMA joint stock Investment Fund Company) with its registered office in Warsaw ("the Investment Fund  Company"), the information of 1 July, 2019 sent pursuant to art. 69 section 1 pt 1, art. 69 section 2 pt 1 a) and art. 87 section 1 pt 2 of  Ustawa z dnia 29 lipca 2005 r. o ofercie publicznej i warunkach wprowadzenia instrumentów finansowych do zorganizowanego systemu obrotu oraz o spółkach publicznych (the Act of 29 July, 2005 on Public Offering, Conditions Governing the Introduction of Financial Instruments to Organized Trading, and Public Companies, "the Act") that as a result of the acquisition by IPOPEMA 21 FIZ Aktywów Niepublicznych (IPOPEMA 21 FIZ Private Assets Fund) managed by the Investment Fund Company ("the Fund") of the Company's shares in a transaction conducted on the regulated market on 25 June, 2019, the share of funds managed by the Investment Fund Company in the total number of votes in the Company increased by more than 2%, and also above the 15% threshold in the total number of votes in the Company.

Before the above-mentioned event, the Fund held 4,200,000 shares in the Company constituting 1.79% of the Company's share capital and 4,200,000 votes, which constituted 1.79% of the total number of votes at the Company's General Meeting.

After the above-mentioned event, the Fund holds in total 13,800,226 shares in the Company, which constitutes 5.89% of the Company's share capital and entitles to 13,800,226 votes, constituting 5.89% of the total number of votes at the Company's General Meeting of Shareholders.

Before the above-mentioned event, all the funds managed by the Investment Fund Company held in total 26,158,825 shares in the Company, which constituted 11.16% of the Company's share capital and entitled to 26,158,825 votes, which constituted 11.16% of the total number of votes at the Company's General Meeting.

After the above-mentioned event, all the funds managed by the Investment Fund Company hold 35,759,051 shares in total, which constitutes 15.25% of the Company's share capital and entitles to 35,759,051 votes and 15.25% of the total number of votes at the Company's General Meeting.

At the same time the Investment Fund Company informed that the funds managed by the Investment Fund Company do not have any financial instruments referred to in Art. 69 b section 1 of the Act.