Extension of validity of the warranty relating to the contract "Construction of the pipeline DN700 Szczecin-Gdańsk"

The Board of Stalprofil on May 13, 2015 was notified about signing by Towarzystwo Ubezpieczeń Euler Hermes S.A., at the request of the consortium composed of: ZRUG Zabrze S.A. and Stalprofil S.A., annexes to contracts for contract guarantees that prolong the terms of the guarantee for the proper performance and proper removal of defects and faults of the contract "Construction of the pipeline DN700 Szczecin-Gdańsk" granted to OGP Gaz-System S.A. with its registered seat in Warsaw for Stage II Karlino-Koszalin and Stage III Koszalin-Słupsk respectively to 28 May 2015 in claims for non-performance or improper performance of the contract and to 28 May 2018 in terms of warranty claims.
The term of the guarantee for Stage IV Słupsk-Wiczlino given respectively until 19 June 2015 in connection with claims for non-performance or improper performance of the contract and June 19, 2018 in terms of warranty claims, did not change.
The guarantee for Stage II and III, whose term was extended, amounts to 11 841 129.60 PLN for performance bonds and PLN 3 552 338.89 for guarantees of proper removal defects and faults.
The total value of guarantees provided by Towarzystwo Ubezpieczeń Euler Hermes S.A. for the proper performance and proper removal of defects for Stage II, III and IV did not change and amounts to 27 537 510.60 PLN and 8 261 253.19 PLN.
Term of the above guarantees was extended in connection with the postponement of execution of the contract of 10 May 2012 on general realization of investment "Construction of the pipeline DN700 Szczecin-Gdańsk: Stage II Karlino-Koszalin, Stage III Koszalin-Słupsk and Stage IV Słupsk-Wiczlino". The financial terms on which the guarantees were grantedd do not differ from market terms used for this type of agreement. Guarantee contracts, which were drawn in the annexes meet the criteria of a significant agreement because their total value exceeds 10% of the issuer's equity.