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GENERAL MEETING

THE SUWARY SPÓŁKA AKCYJNA MANAGEMENT BOARD NOTICE OF CONVENING AN ORDINARY GENERAL MEETING OF SHAREHOLDERS TO BE HELD AT 1 PM, ON MARCH 8, 2017 IN PABIANICE, PIOTRA SKARGI 45/47

15.02.2017

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Current report 47/2009 The position of the Suwary S.A. Management Board on the announced Invitation to Sell Shares

Acting pursuant to Article 80 of the Act dated 29 July 2005 on Public Offering, Conditions for Trading in Financial Instruments and on Public Companies (Journal of Laws No 184 item 1539 with subsequent amendments), based on the information published by the obliged entity in the Invitation and announced in the press release made by Amhil Europa Sp z o.o. with reference to the announcement of 14 August 2009 of the Invitation to Sell Shares, the Management Board of Suwary S.A. holds the following opinion: 1. Grounds for the opinion and reservations thereto: - the Management Board, while forming this opinion, did not have any extra analyses completed or it did not have the valuation of the company made in relation to the Invitation - to the exclusion of the information coming from the Company itself, the Management Board of the Company does not take on any responsibility for the truthfulness, reliability, completeness, or adequacy of the information which this opinion is based on - this opinion does not present a recommendation on the acquisition or disposal of financial instruments referred to in article 42 of the Act of 29 July 2005 on Trading in Financial Instruments - the Management Board holds the opinion that the shareholders, while taking an investment decision as to an answer to the Invitation, shall carry out their own analysis of the investment risk related to the disposal or acquisition of the Company’s shares based on the entire information released by the Company within its disclosure obligation performance and in so far as it remains valid - the undersigned are not in the possession of any confidential information within the meaning of the Act on Trading in Financial Instruments dated 29 July 2005 which should be disclosed , and according to their best knowledge are not aware of any facts related to the Company or the shares thereof that could be considered confidential information material for the assessment of the Invitation, which have not been published by the Company pursuant to the provisions of law. The Management Board of Suwary S.A. became acquainted with: 1. The content of the Invitation published, 2. The press release in relation to the announced invitation to subscribe to the sale of Suwary S.A. shares dated 14.08.2009 published on the pb.pl web site, 3. The Suwary S.A. share quotations, 4. Information on the trends in the market prices of shares in other companies from the plastics processing industry in the period prior to the Invitation announcement. II The position of the Company’s Management Board Having taken the aforementioned information into account, the Management Board formed the following opinion: 1. From the referred documents published by Amhil Europa Sp z o.o.. it can be concluded that following the acquisition of the controlling block of shares the Suwary S.A. operations will be continued in the existing business line and that its activities will be progressively integrated with the Wenworth Group. The entity inviting did not specify their plans which would be an indication of the impact of the acquisition upon the Company’s employment level or the location of the Company’s activities. In the opinion of the Management Board, the acquisition of the controlling block of shares by a member company of the Wentworh Group, taking into account its operations in the plastics processing and mould manufacturing industry, can have a beneficial influence on the development of Suwary S.A. 2. The price offered in the invitation exceeds by PLN 4.02 an average market price equal to the arithmetic average of the trading volume weighted average daily market prices on the Stock Exchange for the last 6 months preceding directly the announcement of the Invitation. Moreover, the Management Board holds the view that the price announced in the Invitation has been fixed in accordance with the regulations in force and exceeds the one stipulated by the provisions of the Act of 29 July 2005 on Public Offering, the Conditions for Trading in Financial Instruments and on Public Companies, Article 79. However, taking into account the financial results the Company has obtained so far, as well as its economic ratios, in the opinion of the Management Board the price offered in the Invitation does not fully reflect the fair value of the Company. The Management Board points out there may exist opinions on the Company value dissimilar to the position presented herein. The above opinion was also submitted to the Company’s Commission of the Solidarity Trade Union and the Independent Trade Union of Suwary S.A. Employees.

2009-09-01

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