26/2020 - Further activities of the Company undertaken due to the pandemic - Updates on the spreading of SARS CoV-2 and its effects on the financial situation of the Issuer and his group of companies

The Management Board of Trakcja S.A. (”Company”, “Issuer”) based in Warsaw hereby informs, in reference to current reports no’s 7/2020 and 9/2020 that activities undertaken to eliminate the adverse impact of the current situation on the Company’s operations and results with simultaneous maintenance of jobs included the adoption of new Remuneration Regulations in Trakcja S.A. As of 21 September 2020 in cooperation with trade unions operating in the Company.

The new Remuneration Regulations include a change of the system of payments of jubilee awards and retirement benefits, payment of allowances for employees, monthly bonuses for blue collars and bonuses for white collars. The introduction of new regulations on the payment of jubilee awards and retirement benefits will result in savings, estimated by the Issuer at PLN 1.3 million (for the years 2020-2022) in comparison to the previous Remuneration Regulations. In addition, the adopted Regulations linked bonuses for white collars with the Company’ profitability.

Simultaneously, in the opinion of the Issuer’s Management Board, adopted solutions will allow a more efficient management of personnel and a more efficient distribution of the Company’s funds.

Legal basis:

Article 17.1 of the Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation)