POLISH FINANCIAL SUPERVISION AUTHORITY

Current Report No 107/2016

Made on 2016-11-22

The issuer's name Magellan S.A.

Subject Termination agreement with financial auditor

Legal grounds Art. 56 title 1 point 2 of the Act on Public Offering - current and periodical information

Report content:

The Management Board of Magellan S.A. hereby informs, that on 22 November 2016 the Company terminated an agreement for audit and review of financial statements of the Company and Magellan Capital Group for the period from 2014 to 2016 signed on 24 June 2014 with Deloitte Polska Spółka z ograniczoną odpowiedzialnością Spółka komandytowa with its registered office in Warsaw, al. Jana Pawła II 22, entered in the list of entities authorized to audit financial statements by the National Chamber of Statutory Auditors under number 73. The agreement was terminated with the mutual agreement of both parties basis on the decision of the Issuer related to the introduction of new auditor due to the need of ensuring uniformity in the audit of Banca Farmafactoring Group. The decision was approved by the Supervisory Board of Magellan S.A. and acting within its framework the Audit Committee.

During the term of the agreement with the auditor, there were no cases of resignation from giving an opinion, giving a negative opinion or opinion with reservation regarding the correctness and accuracy of financial statements or the consolidated financial statements of the Issuer. During the term of the agreement, there were no differences on the interpretation and application of the law or the provisions of the statute relating to the subject and scope of the audit, review or other services that took place between the management and the auditor.

The statement of the auditor, prepared at the request of the Issuer and addressed to the Polish Financial Supervision Authority, in which the auditor confirms the information given in this report, the Company will provide to the public immediately after its receiving.

Legal grounds: Art. 56 title 1 point 2 of the Act on Public Offering - current and periodical information

Vice-President, Management Board Member, Management Board

Grzegorz Grabowicz Rafał Karnowski

Magellan SA published this content on 22 November 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 12 December 2016 15:45:01 UTC.

Original documenthttp://www.magellansa.pl/Portals/1/Files/Raporty/Raporty biezace/EN/2016/107_Rozwiazanie_umowy_z_bieglym_rewidentem_ENG.pdf

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