Management Board of Mostostal Warszawa S.A. (hereafter „Company”) hereby informs that the Supervisory Board during its meeting on 9 May 2018 has appointed to the President of the Management Board of the 8th term Mr. Miguel Angel Heras Llorente . The Supervisory Board’s resolution comes into force on the date of its adoption. The Curriculum vitae of the newly appointed Member of the Board:

Mr. Miguel Angel Heras Llorente in 1985 received the title of the Engineer of Roads, Canals and Harbours; he completed a specialist course in design, calculation and construction details of concrete structures in the construction industry. In 2010, Mr. Miguel Angel Heras Llorente participated in the Training Programme for Managerial Personnel at the IE Business School. He has extensive professional experience.

Mr. Miguel Angel Heras Llorente started his professional career in 1987 in IBERINSA as a design engineer, where he designed drainage for the underground project in Colombia. Between 1988 and 1992, he worked as a director at a number of construction plants in ENTRECANALES y TAVORA, mainly in the infrastructure and railway sectors. In the course of the next five years he managed multiple contracts in Spain and South America. The projects were managed by various consortia, including the consortium of companies ENTRECANALES y TAVORA and DYWIDAG y FCC, involved in the construction of the underground in Medellin (Colombia). In 1997, ENTRECANALES y TÁVORA merged with CUBIERTAS, as a result of which, between 1998 and 2003, Mr. Miguel Angel Heras Llorente continued his professional career in a company which received a new name: NECSO ENTRECANALES CUBIERTAS. At that time, he held the position of national director in Colombia, later in Colombia and Venezuela and since 2001 also in Puerto Rico. Amongst others the projects he managed included the construction of roads, motorways, railway lines, tunnels and aqueducts and sewage treatment plants and the renovation of harbours. The most significant projects include the extension of the public rail transport system and construction of a sewage treatment plant in Puerto Rico, conducted between 2001 and 2003. Between 2004 and 2006, he acted as general director for Licences in Chile in Acciona. Between 2006 and 2009, after returning to Spain, he worked as Deputy general director for Licences and between 2010 and 2012 as general director for Asia, Australia and Africa. From December 2012 till March 2016 he was member of the management board at Mostostal Warszawa S.A. performing the function of the vice-president of the management board, general director. He was also the supervisory board member of subsidiaries: Mostostal Power Development Sp. z o.o. and Mostostal Płock S.A. From April 2016 he performed the role of Director of Digital Transformation at ACCIONA Infraestructure.

According to his declaration, Mr. Miguel Angel Heras Llorente does not conduct competitive activity in reference to the activity pursued by the Issuer, and does not participate in a competitive company with respect to Mostostal Warszawa S.A., as a partner of a civil partnership, partnership or member of a body of a capital company, does not participate in another competitive legal activity as a member of its bodies and is not listed in the Register of Insolvent Debtors maintained on the basis of the Act on the National Court Register.

At the same time, the Company’s Supervisory Board entrusted Mr. Jorge Calabuig Ferre with the position of the Vice President of the Management Board. Mr. Jorge Calabuig Ferre is member of the Mostostal Warszawa Management Board since May 2017 (current report 19/2018), as of April 2018 he became responsible for the production and supervision of energy and industry, infrastructure and general construction areas. Mr Jorge Calabuig Ferre has been associated with Mostostal Warszawa since 2006. Mr Jorge Calabuig Ferre is also a Member of the Management Board of Mostostal Power Development Sp. z o.o. and is member of Supervisory Boards of the companies within the capital group..

As a result of changes above, the composition of the Company’s Management Board during the 8th term is as follows:

1. Miguel Angel Heras Llorente – President of the Management Board
2. Jorge Calabuig Ferre – Vice President of the Management Board
3. Jacek Szymanek – Member of the Management Board;
4. Alvaro Javier de Rojas Rodriguez – Member of the Management Board.
5. Radosław Gronet – Member of the Management Board.

Legal basis:

§ 5 clause 5 of the Ordinance of the Minister of Finance of 29 March 2018 on the current and periodic reports disclosed by the securities issuers and on equivalence of information disclosures required by law of non-EU member states. (Journal of Laws of 2018, item. 757).

Management Board of Mostostal Warszawa S.A. (hereafter „Company”) hereby informs that the Supervisory Board during its meeting on 9 May 2018 has appointed to the President of the Management Board of the 8th term Mr. Miguel Angel Heras Llorente . The Supervisory Board’s resolution comes into force on the date of its adoption. The Curriculum vitae of the newly appointed Member of the Board:

Mr. Miguel Angel Heras Llorente in 1985 received the title of the Engineer of Roads, Canals and Harbours; he completed a specialist course in design, calculation and construction details of concrete structures in the construction industry. In 2010, Mr. Miguel Angel Heras Llorente participated in the Training Programme for Managerial Personnel at the IE Business School. He has extensive professional experience.

Mr. Miguel Angel Heras Llorente started his professional career in 1987 in IBERINSA as a design engineer, where he designed drainage for the underground project in Colombia. Between 1988 and 1992, he worked as a director at a number of construction plants in ENTRECANALES y TAVORA, mainly in the infrastructure and railway sectors. In the course of the next five years he managed multiple contracts in Spain and South America. The projects were managed by various consortia, including the consortium of companies ENTRECANALES y TAVORA and DYWIDAG y FCC, involved in the construction of the underground in Medellin (Colombia). In 1997, ENTRECANALES y TÁVORA merged with CUBIERTAS, as a result of which, between 1998 and 2003, Mr. Miguel Angel Heras Llorente continued his professional career in a company which received a new name: NECSO ENTRECANALES CUBIERTAS. At that time, he held the position of national director in Colombia, later in Colombia and Venezuela and since 2001 also in Puerto Rico. Amongst others the projects he managed included the construction of roads, motorways, railway lines, tunnels and aqueducts and sewage treatment plants and the renovation of harbours. The most significant projects include the extension of the public rail transport system and construction of a sewage treatment plant in Puerto Rico, conducted between 2001 and 2003. Between 2004 and 2006, he acted as general director for Licences in Chile in Acciona. Between 2006 and 2009, after returning to Spain, he worked as Deputy general director for Licences and between 2010 and 2012 as general director for Asia, Australia and Africa. From December 2012 till March 2016 he was member of the management board at Mostostal Warszawa S.A. performing the function of the vice-president of the management board, general director. He was also the supervisory board member of subsidiaries: Mostostal Power Development Sp. z o.o. and Mostostal Płock S.A. From April 2016 he performed the role of Director of Digital Transformation at ACCIONA Infraestructure.

According to his declaration, Mr. Miguel Angel Heras Llorente does not conduct competitive activity in reference to the activity pursued by the Issuer, and does not participate in a competitive company with respect to Mostostal Warszawa S.A., as a partner of a civil partnership, partnership or member of a body of a capital company, does not participate in another competitive legal activity as a member of its bodies and is not listed in the Register of Insolvent Debtors maintained on the basis of the Act on the National Court Register.

At the same time, the Company’s Supervisory Board entrusted Mr. Jorge Calabuig Ferre with the position of the Vice President of the Management Board. Mr. Jorge Calabuig Ferre is member of the Mostostal Warszawa Management Board since May 2017 (current report 19/2018), as of April 2018 he became responsible for the production and supervision of energy and industry, infrastructure and general construction areas. Mr Jorge Calabuig Ferre has been associated with Mostostal Warszawa since 2006. Mr Jorge Calabuig Ferre is also a Member of the Management Board of Mostostal Power Development Sp. z o.o. and is member of Supervisory Boards of the companies within the capital group..

As a result of changes above, the composition of the Company’s Management Board during the 8th term is as follows:

1. Miguel Angel Heras Llorente – President of the Management Board
2. Jorge Calabuig Ferre – Vice President of the Management Board
3. Jacek Szymanek – Member of the Management Board;
4. Alvaro Javier de Rojas Rodriguez – Member of the Management Board.
5. Radosław Gronet – Member of the Management Board.

Legal basis:
§ 5 clause 5 of the Ordinance of the Minister of Finance of 29 March 2018 on the current and periodic reports disclosed by the securities issuers and on equivalence of information disclosures required by law of non-EU member states. (Journal of Laws of 2018, item. 757).