Current report no. 47/2019

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 received from IPOPEMA Towarzystwo Funduszy Inwestycyjnych S.A. (IPOPEMA joint stock Investment Fund Company) with its registered office in Warsaw (“the Investment Fund Company") information on 31 October, 2019 sent pursuant to Article 69 section 1 item 2 and Article 87 section 1 item 2 of of Ustawa z dnia 29 lipca 2005 r. o ofercie publicznej i warunkach wprowadzania 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 disposal by the IPOPEMA 2 FIZ Aktywów Niepublicznych (IPOPEMA 2 Closed-End Investment Fund of Non-Public Assets), managed by the Investment Fund Company,  of the Company's shares in a transaction conducted on the regulated market on 28 October, 2019, settled on 30 October, 2019, the share of funds managed by the Investment Fund Company in the total number of votes in the Company dropped below the 15% threshold in the total number of votes in the Company.

Before the aforementioned transaction, all the funds managed by the Investment Fund Company held 35,365,787 shares in total, which constituted 15.08% of the Company's share capital and entitled to 35,365,787 votes, which constituted 15.08% of the total number of votes at the Company's General Meeting.

After the above-mentioned transaction, all the funds managed by the Investment Fund Company hold 35,075,787 shares in total, which constitutes 14.96% of the Company's share capital and 35,075,787 votes and 14,96% 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.