The conclusion of the letter of intent with GE Power Sp z o.o.

Legal basic: Article 17(1) MAR

The Management Board of “Polimex-Mostostal” SA with its registered office in Warsaw (”the Company”) informs that today the Company has signed a letter of intent with GE Power SP. z o.o. on cooperation with the implementation of a public order under the name Construction of Ostrołęka C 1000 MW (approx.) power plant; the Contracting Authority is Elektrownia Ostrołęka SP. z o.o. ("Project Ostrołęka") (The "LOI").

Pursuant to the LOI, the Parties expressed their intention to conclude a subcontracting agreement in the scope of one or more of the following options: (i) civil/construction works, (ii) supply of steel structures, and (iii) erection of steel structures. In addition, the Parties through separate arrangements may cooperate in the following scopes: (I) design/engineering works and (ii) any other services and supplies required for the execution of the Project Ostrołęka.

Neither of the Parties has the basis to claims against the other Party if the subcontracting agreement is not executed or in case of withdrawal from the negotiations.

LOI is subject to the jurisdiction of Polish law. LOI is binding for the Parties: (I) until 30 September 2018 or (ii) until the time a statement on the withdrawal from the negotiations is delived to the other Party.