Dividend policy

Pursuant to art. 395, clause 1 of the Code of Commercial Companies and art. 28, item 1 of the Company’s Statute General Assembly passes a resolution on division of profits or coverage of losses. General Assembly should take place 6 months from the end of the financial year (in case of the Issuer for which the financial year is a calendar year, General Assembly should take place until June 30 of the given year at the latest).

Preference shares do not occur.

 
Dividends for business years 2003-2008 have not been paid.
For the business year 2009, the General Assembly of Shareholders of ES‑SYSTEM S.A. on 14th May 2010 adopted a resolution on the division of profit, allocating part of it - in the amount PLN 4 286 363.70 - to the dividend payment.
For the business year 2010, the General Assembly of Shareholders of ES‑SYSTEM S.A. on 24th May 2011 adopted a resolution on the division of profit, allocating part of it - in the amount PLN 4 286 363.70 - to the dividend payment.
For the business year 2011, the General Assembly of Shareholders of ES‑SYSTEM S.A. on 9th May 2012 adopted a resolution on the division of profit, allocating part of it - in the amount PLN 4 286 363,70 - to the dividend payment.
For the business year 2012, the General Assembly of Shareholders of ES‑SYSTEM S.A. on 22nd May 2013 adopted a resolution on the division of profit, allocating part of it - in the amount PLN 2 143 181,85 - to the dividend payment.
For the business year 2013, the General Assembly of Shareholders of ES‑SYSTEM S.A. on 8th May 2014 adopted a resolution on the distribution of net profit for the year 2013 and dividend payment in the total amount PLN 2 143 181,85.
For the business year 2014, the General Assembly of Shareholders of ES‑SYSTEM S.A. on 8th May 2015 adopted a resolution on the distribution of net profit for the year 2014 and dividend payment in the total amount PLN 15 002 272,95.
For the business year 2015, the General Assembly of Shareholders of ES‑SYSTEM S.A. on 19th May 2016 adopted a resolution on the distribution of net profit for the year 2015 and dividend payment in the total amount PLN 10 715 909,25.
For the business year 2016, the General Assembly of Shareholders of ES‑SYSTEM S.A. on 11th May 2017 adopted a resolution on the distribution of net profit in the total amount PLN 3 776 884.95 for reserve capital.
For the business year 2017, the General Assembly of Shareholders of ES SYSTEM S.A. on 17th May 2017 adopted a resolution on the distribution of net profit for the year 2017 and dividend payment in the total amount PLN 15 002 272,95.
The Management Board will condition realization of dividend from profits gained by the Company in the next years on meeting demands of the Company for the financial resources resulting from realization of the Company’s investment plan.

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