Business operation of WSE Group companies

Polish Power Exchange (Towarowa Giełda Energii S.A., “PolPX”)

powerPolPX is the only licensed commodity exchange in Poland. Since 2000, PolPX operates an energy market whose participants are the largest energy companies in Poland and the CEE Region. PolPX operates trading in electricity, natural gas and property rights in certificates of origin of electricity. Thanks to its experience in the implementation of innovative solutions, state-of-the-art IT infrastructure and know-how, in 2005 and 2007 PolPX was invited to establish and operate the Register of Certificates of Origin of electricity generated from renewable energy sources and co-generation: a pioneering project in Europe which supports producers of energy from those sources with market instruments.

The Polish Power Exchange is the sole shareholder of the Warsaw Commodity Clearing House. WCCH operates a clearing house and a settlement system for transactions in financial instruments other than securities within the meaning of the Act on Trading in Financial Instruments and in exchange commodities within the meaning of the Act on Commodity Exchanges. PolPX is also the sole shareholder of InfoGT Sp. z o.o. The liquidation of InfoGT Sp. z o.o. began in September 2012 and the business of the company, which focuses on the provision of IT services within the PolPX Group, was transferred to PolPX.

WSE holds 100% of shares in PolPX share capital, which gives the right to exercise 100% of votes at the general meeting.

BondSpot S.A.

tr bodspotBondSpot S.A. organizes the Treasury BondSpot Poland market, which is an integral part of the Treasury Securities Dealer system co-ordinated by the Ministry of Finance. The main objective of the system is to reduce public debt servicing cost by improving the liquidity, transparency and efficiency of the Treasury securities market.

BondSpot S.A. also organizes wholesale trading on two markets of Catalyst: Regulated Over-The-Counter Market and Alternative Trading System (ATS). The markets organized by BondSpot S.A. offer wholesale trade in municipal bonds, corporate bonds, bank bonds and mortgage bonds, as well as Treasury bonds.

WSE holds 92.47% of the company’s share capital, which gives the right to exercise 92.47% of votes at the general meeting.

WSEInfoEngine S.A.

infoWSEInfoEngine S.A. operates a media business and provides comprehensive investor relations and public relations services to issuers since 2004. Its services include among others organization of General Meetings, interpretation, online transmissions and video productions. The company owns GPW Media – the Internet MultiMedia Platform available to all entities present on the capital market to support mutual communications.

WSEInfoEngine also provided services of the Commercial Operator for the electricity market in 2012.

WSE holds 100% of shares in the company’s share capital, which gives the right to exercise 100% of votes at the general meeting.

Instytut Rynku Kapitałowego – WSE Research S.A.

gkInstytut Rynku Kapitałowego – WSE Research S.A. operates in the area of education on the capital markets and preparation and organization of training sessions since 2010. The company implements training programs among others for candidates for securities brokers, investment advisers and investment firm agents, as well as authorised advisers. It also offers closed training mainly addressed to capital market entities.

WSE holds 100% shares in the company’s share capital, which gives the right to exercise 100% of votes at the general meeting.

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