Current report no. 38/2021

Subject: Status of exercise of entitlements assigned under the CD PROJEKT S.A. Incentive Program active in the years 2016-2019, and expectations regarding the sale of shares by entitled parties

Legal basis: Art. 17 section 1 of MAR – inside information

In relation to information disclosed in Current report no. 44/2020 of 23 September 2020, given the expiration on 23 September 2021 of the yearlong lock-up period applicable to shares assigned under the Incentive Program in force at CD PROJEKT S.A. (hereinafter referred to as “the Company”) in the years 2016-2019 (hereinafter referred to as “the Incentive Program”), and mindful of the need to preserve transparency of actions undertaken by persons enrolled in the Incentive Program, including members of the Management Board (hereinafter referred to as “the Entitled Parties”) – the Management Board of the Company hereby publicly discloses information related to the anticipated actions and number of shares covered by sale orders placed by the Entitled Parties.

In collaboration with Trigon Dom Maklerski S.A. (hereinafter referred to as “Trigon”) a mechanism has been devised enabling the Entitled Parties to sell shares taken up in the framework of the Incentive Program in a way which mitigates the potential impact of these actions on the Company stock price.

Sale orders will be aggregated by Trigon in proportion to the number of shares sold by each Entitled Party and processed as either a single transaction or multiple session or package transactions at the Warsaw Stock Exchange between 24 September 2021 and 10 November 2021 at the latest, while observing a daily transaction limit equal to 15% of the average daily trading volume of Company stock.

As of 23 September 2021, the total number of shares covered by sale orders as part of the scheme described above is 40 586, i.e. approximately 0.9% of all shares to which a yearlong lock-up period originally applied, as disclosed in Current report no. 44/2020.

Each Entitled Party will also be able to amend their sale order by changing the number of shares sold, adjusting the minimum sale price, canceling the order with regard to shares which have not yet been sold, or placing a new sale order.

With regard to shares taken up in the framework of the Incentive Program by members of the Management Board, according to declarations submitted thereby, members of the Management Board do not intend to undertake any actions leading to sale of shares assigned to them under the Incentive Program following the expiration of the corresponding lock-up period.

 

Disclaimer: This English language translation has been prepared solely for the convenience of English speaking readers. Despite all the efforts devoted to this translation, certain discrepancies, omissions or approximations may exist. In case of any differences between the Polish and the English versions, the Polish version shall prevail. CD PROJEKT, its representatives and employees decline all responsibility in this regard.