Appointment of the Audit Committee members and establishment of the Appointments and Remuneration Committee with the appointment of its members within the Supervisory Board of LC Corp S.A.

The Management Board of LC Corp S.A. (hereinafter: the Company or the Issuer) hereby reports that on 27 October 2017 the Company’s Supervisory Board, acting pursuant to Art. 128 and 129 of the Act of 11 May 2017 on statutory auditors, audit firms and public supervision (Journal of Laws of 2017, item 1089) in connection with § 20 subpara. z) and § 20 (1) of the Company’s Statute, adopted a resolution pursuant to which it established the Audit Committee composed of:

– Grzegorz Grabowicz – Chairman of the Audit Committee,

– Jacek Osowski – Member of the Audit Committee,

– Krzysztof Kaczmarczyk – Member of the Audit Committee

The Issuer’s Management Board also reports that the Audit Committee in the above-mentioned composition meets the criteria of independence and other requirements set out in Art. 129 para. 1, 3 ,5 and 6 of the Act on statutory auditors, audit firms and public supervision, i.e.:

1. At least one member of the audit committee has the knowledge and competences with regard to accounting or auditing of financial statements
2. At least one member of the audit committee has the knowledge and competences with regard to the Company’s sector
3. Most of the members of the audit committee, including its chairman, are independent from the company.

In accordance with the specific principle II.Z.8 of the set of “Good Practices of Companies Listed on the WSE 2016”, the chairman of the audit committee meets the criteria of independence set out in Appendix II to the Recommendation of the European Commission 2005/162/EC of 15 February 2005 on the role of non-executive or supervisory directors in listed companies and on the committees of a (supervisory) board.

The Issuer’s Management Board also reports that on 27 October 2017 the Company’s Supervisory Board, acting pursuant to § 20 (1) of the Company’s Statute, adopted a resolution pursuant to which it established the Appointments and Remuneration Committee composed of:

– Michał Hulbój – Chairman of the Appointments and Remuneration Committee,

– Michał Kowalczewski – Member of the Appointments and Remuneration Committee,

– Paweł Małyska – Member of the Appointments and Remuneration Committee,

Legal basis: Art. 17.1 of the Regulation of the European Parliament and of the Council (EU) No. 596/2014 of 16 April 2014 on market abuse (Market Abuse Regulation) and  repealing Directive 2003/6/EC, 2003/124/EC, 2003/125/EC and 2004/72/EC.