CURRENT REPORT FILED WITH THE POLISH FINANCIAL SUPERVISION

AUTHORITY

DATE: February 12th 2021

Subject: Notification of payment under performance bond and partial payment under advance payment guarantee by STU Ergo Hestia S.A. to beneficiary Operator Gazociągów Przesyłowych GAZ-SYSTEM S.A. (Current Report No. 11/2021)

Further to Current Report No. 20/2018 of May 30th 2018 announcing the execution on May 30th 2018 of a contract with Operator Gazociągów Przesyłowych GAZ-SYSTEM S.A. (the "Employer") for the project to construct the Goleniów V-Płoty section of the DN 700 Szczecin-Gdańsk gas pipeline with auxiliary facilities and the necessary infrastructure (the "Contract"), as well as Current Report No. 64/2020 of December 15th 2020 on receipt from the Employer of a notice of termination of the Contract, Current Report No. 66/2020 of December 28th 2020 on submission of the Company's position regarding, inter alia, the Employer's notice of termination, and Current Report No. 2/2021 of January 11th 2021 announcing the submission by the Employer to Sopockie Towarzystwo Ubezpieczeń Ergo Hestia S.A. (the "Guarantor") of calls for payment under: (i) performance bond guarantee No. 280000147245, of PLN 15,222,720.75, (ii) advance payment guarantee No. 280000169992, of PLN 5,000,000.00, and (iii) advance payment guarantee No. 280000169762, of PLN 7,000,000, the Management Board of RAFAKO S.A. w restrukturyzacji (in restructuring) of Racibórz (the "Company") announces that on February 12th 2021 the Company was notified by the Employer of the following payments made by the Guarantor to the Employer: (i) PLN 15,222,720.75 under the performance bond for the Contract, and (ii) PLN 2,755,069.19 under the advance payment guarantee.

As at the date of this Current Report, the Issuer has not received a call from the Guarantor for payment of the above amounts paid by the Guarantor to the Employer.

Legal basis:

Article 17(1) of the Market Abuse Regulation - inside information.

Radosław Domagalski-Łabędzki, President of the Management Board, Jarosław Pietrzyk, Vice President of the Management Board.

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RAFAKO SA published this content on 12 February 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 February 2021 09:30:03 UTC.