IMPEL : The appointment of Members of the Supervisory Board

Current Report No. 20/2017 of 9 June 2017

The Management Board of Impel S.A. reports that on 9 June 2017, the Ordinary General Meeting of the Company appoints Mr Stefan Forlicz as President of the Supervisory Board and Ms Danuta Czajka as Member of the Supervisory Board as of 9 June 2017.

Mr Stefan Forlicz graduated in electronic engineering and automatization from the Wrocław University of Science and Technology. IN 1973-2006, he worked at the Wrocław University of Economics (head of the Mathematical Economisc Chair at the Economic Institute). He gained PhD in economics (Polish titles: doktor and doktor habilitowany). In 1996 he became professor.

Mr Stefan Forlicz also gave lectures at the Economics and Regional Research Chair at the Management and Production Engineering Department, the Opole University of Technology. He contributed to establishment of the WSB Universities (President from 1998). He also was the head of Quantitative Research and in 2013 the head of Economics Institute at WSB. In 2013, he received the Doctor Honoris Causa degree from the Dnipropetrovsk National Mining University.

His scientific interests include widely understood economics, in particular econometrics and statistics, mathematical economics, information economics and microeconomics.

Mr Stefan Forlicz, as he declared, is not entered into the Register of Insolvent Debtors kept under the Law on the National Court Register and he does not conduct any activities outside the Company which might be competitive in relation to the Company's activity, he is not involved in any activities of a competitive company as a partner of a civil partnership, limited partnership or as a board member of a joint-stock company, and is not engaged in any competitive legal entity as its board member.

Ms Danuta Czajka has a broad experience in capital transactions and management reporting. In 2003 - 2009, she run Cigma Capital, a strategic consulting company. In 2004 - 2007 and in 2009, she cooperated with Impel Group as a capital investment adviser, taking care of acquisition, investment and disinvestment processes. In 2009 - 2016, a member of the Management Board of Impel S.A.

Ms Danuta Czajka worked as Investment Director for Innova Capital, a private equity investment found. She cooperated with American Land o' Lakes and Sparks Companies for training, consulting projects and derivatives markets, under the supervision of USAID, Washington D.C, an agency for international development.

Ms Danuta Czajka holds a Master's degree (mgr inż) in agriculture economics. She completed post-graduate strategy and finance programme at the SGH Warsaw School of Economics. She holds MBA title from the Warsaw University of Technology Business School in cooperation with London Business School in London, HEC in Paris and NHH in Bergen, Norway. She is entitled to act as Supervisory Board Member for the Ministry of State Treasury. She graduated in Advanced Management Program from IESE Business School (University of Navarra).

Ms Danuta Czajka, as she declared, is not entered into the Register of Insolvent Debtors kept under the Law on the National Court Register and she does not conduct any activities outside the Company which might be competitive in relation to the Company's activity, she is not involved in any activities of a competitive company as a partner of a civil partnership, limited partnership or as a board member of a joint-stock company, and is not engaged in any competitive legal entity as its board member.

Legal basis:

Art. 5.1.22 of the Regulation of the Minister of Finance on current and periodic information published by issuers of securities