Quercus TFI S.A. (WSE:QRS) submitted a binding offer to acquire Dom Inwestycyjny Xelion sp. z o.o. on February 24, 2020. Quercus TFI S.A. signed a preliminary sales contract to acquire Dom Inwestycyjny Xelion sp. z o.o. from Bank Polska Kasa Opieki S.A. (WSE:PEO)on December 18, 2020. The Final Sale Price will be known at the time of acquisition. The shares will be purchased through Quercus Agent Transferowy. As at December 31, 2019, Xelion had assets under administration with a total value of approximately PLN 3.5 billion, value of equity at the level of PLN 36.5 million, the value of assets at the level of PLN 71.9 million, the value of liabilities at the level of PLN 35.4 million, the value of net operating revenues was PLN 40.6 million and the achieved net result of PLN 0.5 million. The transaction is subjected to obtaining the consent of the president of the Office of Competition and Consumer Protection (UOKiK), no objection of the Polish Financial Supervision Authority, payments from Xelion to the bank of cash in the amount of between PLN 15 million and PLN 23 million to be fulfilled within 15 months from the date of conclusion of the agreement. Quercus TFI undertook that within 2 years of the definitive transfer of ownership of 100% of the shares, Xelion will not sell any shares or other rights of a shareholding or ownership nature in Xelion or sell an organized part of Xelion's enterprise to a third party without the prior written consent of the bank. Transaction is expected to close in second half of 2021.Rafal Zwierz, Michal Sowinski, Mateusz Mazur and Marek Trzos-Rastawiecki of Cms Cameron Mckenna Dariusz Greszta Spolka Komandytowa acted as legal advisor to Bank Polska Kasa Opieki S.A. in transaction.

Quercus TFI S.A. (WSE:QRS) acquired Dom Inwestycyjny Xelion sp. z o.o. from Bank Polska Kasa Opieki S.A. (WSE:PEO) on October 29, 2021.