Mostostal Warszawa S.A. Management Board (“Company”, “Mostostal Warszawa”) hereby discloses the Company’s Management Board opinion on the tender offer for Mostostal Warszawa shares announced on 2 July 2019 by ACCIONA Construcción S.A. (“Tender Offer”) and Fairness Opinion regarding the financial terms of the Tender Offer prepared by Deloitte Advisory Spółka z ograniczoną odpowiedzialnością sp. k.

Legal basis:

Art  80. clauses 1 and 3 of the Act from 29 July 2005 on public offering and the conditions for introducing financial instruments to organized  trading, and public companies.