Conclusion of annexes to contracts with Bank Pekao S.A.

On 16.03.2016 the Board was informed of signing by Bank Pekao S.A. in Warsaw an annex to the multi-purpose credit limit agreement between STALPROFIL S.A. and Pekao S.A., which increases available to the Company's existing credit limit of PLN 10 000 000,00 to the amount of PLN 20 000 000,00.
This limit will be allocated to finance current operations of the Company during the period of availability, ie. until 30 June 2017.
At the same time, on 16.03.2016, the Board was informed of signing by Bank Pekao S.A. in Warsaw an annex to the agreement pledge to things labeled as to species, which was concluded between STALPROFIL S.A. and Pekao S.A. in order to secure the credit limit. Stalprofil S.A. under this agreement of 08.03.2016 changes the values ​​established for the Bank registered pledge on the Company's owned inventories of steel products. The value of the pledge in the accounts of the Company as at 29.02.2016 is 11 173 634,84 PLN. Additional protection credit limit is made in favor of Bank Pekao S.A., assignment of receivables due Stalprofil with current commercial contracts with a value for the day 29.02.2016 of 5 934 583,00 PLN.
There are no connections between the issuer and the persons managing or supervising the issuer and the Bank in favor of the registered pledge.
The value of the assets on which the registered pledge the Company considers to be important because their value is higher than expressed in PLN amount of EUR 1 000 000, calculated at the average exchange rate announced by the Polish National Bank, valid on 17.03.2016.

Notice: the official version is the Polish language version and the version translated into English is provided purely for information purposes.