Shareholders structure

Stockholders
VRG S.A.

15.69%

IPOPEMA TFI S.A.
15.33%

PZU „Złota Jesień” Open Pension Fund and PZU Voluntary Pension Fund
14.13%

Nationale-Nederlanden Open Pension Fund and Nationale-Nederlanden Voluntary Pension Fund
8.81%

Jerzy Mazgaj together with his related entity Krakchemia S.A. joint stock company
6.69%

Forum TFI S.A. (Forum joint stock Investment Fund Company)
39.35%

Others

The authorized share capital of VRG S.A. is divided into 234.455.840 regular bearer shares, which collectively amount to 234.455.840 votes at General Assembly of Shareholders VRG S.A. („Company”).

The table below presents information on Shareholders who, to the best of the Company's knowledge, hold, directly or indirectly through subsidiaries, at least 5% of the total number of votes at the General Meeting of Shareholders.

Stockholder's name

The number of held shares (pcs)

Participation in share capital (%)

The number of votes at the General Meeting of Shareholders (in pcs)

Participation in total number of votes at GMS (%)
Stockholder's name IPOPEMA TFI S.A.^1>>

The number of held shares (pcs) 36 797 423

Participation in share capital (%) 15,69%

The number of votes at the General Meeting of Shareholders (in pcs) 36 797 423

Participation in total number of votes at GMS (%) 15,69%

¹ information given on the basis of the number of shares registered jointly by Ipopema 2 FIZ Aktywów Niepublicznych (Ipopema 21 FIZ Private Assets fund) managed by IPOPEMA TFI S.A., and Ipopema 21 FIZ Aktywów Niepublicznych (Ipopema 21 FIZ Private Assets fund), managed by IPOPEMA TFI S.A at the Ordinary General Meeting of the Company on 29 June, 2020. At the Ordinary General Meeting of the Company on 29 June, 2020, Ipopema 2 FIZ Aktywów Niepublicznych held independently 20,414,000 shares of the Company, which constitutes 8,71% of the share capital of the Company and was entitled to 20,414,000 votes at the General Meeting of the Company, which constitutes 8,71% of the total number of votes at the General Meeting of the Company. At the Ordinary General Meeting of the Company on 29 June, 2020, Ipopema 21 FIZ Aktywów Niepublicznych held independently 16.383.423 shares of the Company, which constitutes 6,99% of the share capital of the Company and was entitled to 16.383.423 votes at the General Meeting of the Company, which constitutes 6.99% of the total number of votes at the General Meeting of the Company.
Stockholder's name PZU „Złota Jesień” Open Pension Fund and PZU Voluntary Pension Fund^2>>

The number of held shares (pcs) 35 950 000

Participation in share capital (%) 15,33%

The number of votes at the General Meeting of Shareholders (in pcs) 35 950 000

Participation in total number of votes at GMS (%) 15,33%

² information given on the basis of the number of shares registered jointly by Otwarty Fundusz Emerytalny PZU „Złota Jesień” and Dobrowolny Fundusz Emerytalny PZU at the Ordinary General Meeting of the Company on 29 June, 2020. At the Ordinary General Meeting of the Company on 29 June, 2020, Otwarty Fundusz Emerytalny PZU „Złota Jesień” held independently 35,100,000 shares of the Company, which constitutes 14.97% of the share capital of the Company and was entitled to 35,100,000 votes at the General Meeting of the Company, which constitutes 14.97% of the total number of votes at the General Meeting of the Company.
Stockholder's name Nationale-Nederlanden Open Pension Fund and Nationale-Nederlanden Voluntary Pension Fund^3>>

The number of held shares (pcs) 33 119 487

Participation in share capital (%) 14,13%

The number of votes at the General Meeting of Shareholders (in pcs) 33 119 487

Participation in total number of votes at GMS (%) 14,13%

³ information given on the basis of the number of shares registered jointly by Nationale-Nederlanden Otwarty Fundusz Emerytalny and Nationale-Nederlanden Dobrowolny Fundusz Emerytalny at the Ordinary General Meeting of the Company on 29 June, 2020. At the Ordinary General Meeting of the Company on 29 June, 2020, Nationale-Nederlanden Otwarty Fundusz Emerytalny held independently 32,750,487 shares of the Company, which constitutes 13.97% of the share capital of the Company and was entitled to 32,750,487 votes at the General Meeting of the Company, which constitutes 13.97% of the total number of votes at the General Meeting of the Company.
Stockholder's name Jerzy Mazgaj together with his related entity Krakchemia S.A. joint stock company^4>>

The number of held shares (pcs) 20 650 000

Participation in share capital (%) 8,81%

The number of votes at the General Meeting of Shareholders (in pcs) 20 650 000

Participation in total number of votes at GMS (%) 8,81%

⁴ information on the number of shares given in accordance with the notifications received by the Company pursuant to Article 69 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 Organised Trading, and Public Companies), and in accordance with the notifications received by the Company pursuant to Article 19 of the MAR. According to the information possessed by the Company, Mr Jerzy Mazgaj holds independently 19,650,000 shares of the Company, which constitutes 8.38% of the share capital of the Company and is entitled to 19,650,000 votes at the General Meeting of the Company, which constitutes 8.38% of the total number of votes at the General Meeting of the Company
Stockholder's name Forum TFI S.A. (Forum joint stock Investment Fund Company) ^5>>

The number of held shares (pcs) 15 680 800

Participation in share capital (%) 6,69%

The number of votes at the General Meeting of Shareholders (in pcs) 15 680 800

Participation in total number of votes at GMS (%) 6,69%

⁵ information on the number of shares provided in accordance with the notification received by the Company pursuant to Article 69 sect. 1 pt 2 in connection with Article 87 sect. 1 pt 2 a) 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 Organised Trading, and Public Companies and in accordance with the notification received by the Company pursuant to Article 19 of the MAR, concerns shares held jointly by the following funds managed by Forum TFI S.A.: (i) Forum X Fundusz Inwestycyjny Zamknięty (Forum X Closed-End Investment Fund) holding 8.429,760 Company shares constituting 3.60% of the Company's share capital and entitling to 8,429,760 votes at the Company's General Meeting, constituting 3.60% of the total number of votes in the Company and (ii) Forum XXIII Fundusz Inwestycyjny Zamknięty (Forum XXIII Closed-End Investment Fund) holding 7,251,040 Company shares constituting 3.09% of the Company's share capital and entitling to 7,151,040 votes at the Company's General Meeting, constituting 3.09% of the total number of votes in the Company.
Stockholder's name Others

The number of held shares (pcs) 92 258 130

Participation in share capital (%) 39,35%

The number of votes at the General Meeting of Shareholders (in pcs) 92 258 130

Participation in total number of votes at GMS (%) 39,35%