The Management Board of Mostostal Warszawa S.A. ("Company"), in reference to current report no. 34/2020 dated July 10, 2020, informs that the Company and Acciona Construcción S.A. (the parent entity of the Company, holding 62.13% of the total number of votes at the General Meeting) acting as a civil law partnership under the name Mostostal Acciona S19 Tunel civil law partnership (the "Contractor") has today concluded with the General Directorate for National Roads and Motorways ("GDDKiA") an Annex to the Agreement (the "Annex") for the performance of the task named: "Design and construction of the S19 expressway on the section from the Rzeszów Południe junction (without the junction) to the Babica junction (with the junction) approx. 10.3 km long" (the "Agreement").

Based on the Annex, the Parties have determined that, due to the detection of natural gas (methane) in the rock mass, where the T-1 tunnel is planned, it is necessary to adapt the previously planned works to their performance in methane conditions. This circumstance has a direct impact on most aspects of the tunnel performance, including, among others, efficiency, power, materials, machinery, additional staff. Consequently, it also affects the creation of additional costs resulting from the need for the Contractor to adapt to the performance of the tunnel lining and excavation in a methane environment.

The indicated circumstance and its effects are entirely external and independent of the Contractor, the occurrence of which the Contractor could not have foreseen when concluding the Agreement.

The Parties agreed that in connection with the above, the Contractor will receive an additional remuneration per meter of tunnel in the amount of PLN 23.736,17.

Based on the Annex, the Parties established the Time for Completion by 7 January 2028. The Maximum Value of the Obligation has also changed, which currently amounts to PLN 2,772.13 million.

The amount of remuneration introduced on the basis of the Annex will be indexed, i.e. corrected to reflect price increases or decreases in accordance with the provisions of the Agreement up to the limit +/- 10%.

As a result of the signature of the Annex, the Company's Management Board have updated budget and project schedule, the impact of the Annex signed on the Company's future financial results is neutral, as the increase of costs and remuneration are reflected in the financial results of 2024.