Synthos : Current report no 2

Pursuant to § 5 Section 1.1 of the Regulation of the Minister of Finance of 19 February 2009 concerning Current and Periodic Information Published by Issuers of Securities and Conditions for Recognising as Equivalent Information Required by the Laws of a Non-Member State (consolidated text, Dz.U. [Journal of Laws] of 2014, item 133) (Regulation), the Board of Synthos S.A. (Issuer) announces that, on 19 February 2015, Green Pepper SCSp (société en commandite spéciale), a company incorporated under the laws of Luxembourg with its registered office in Luxembourg, address: Rue Aldringen 23, L-1118 Luxembourg, entered to the Register of Business Activity and Companies ("Registre de Commerce et des Sociétés") under the RCS number B 192143, hereinafter referred to as "SCSp," and Synthos Dwory 7 spółka z ograniczoną odpowiedzialnością Holding spółka komandytowo-akcyjna with its registered office in Oświęcim (address: ul. Chemików 1, 32-600 Oświęcim), entered to the Register of Entrepreneurs of Krajowy Rejestr Sądowy (KRS, National Court Register) kept by the District Court for Kraków - Śródmieście in Kraków, 12th Economic Division of the National Court Register, under the KRS number 0000478085, hereinafter referred to as the "Company," entered into an agreement under which:

The Company acquired from SCSp, for the purpose of redemption, Series A Bonds Payable issued on 22 November 2013 by the Company with the nominal value of PLN 100.00 (in words: one hundred zlotys and 00/100) each, numbered from A1 to A6.416.362, in consideration for the amount equal to the nominal value of Series A Bonds, i.e. the total amount of PLN 641,636,200.00 (in words: six hundred and forty one million six hundred and thirty six thousand two hundred zlotys and 00/100).

At the same time, in order to be relieved from the obligation to pay the total amount for Series A Bonds acquired for redemption, as referred to above, the Company - in accordance with Article 453 of the Polish Civil Code - transferred to SCSp all rights and obligations of the partner Synthos Dwory 7 spółka z ograniczoną odpowiedzialnością spółka jawna with its registered office in Oświęcim (address: ul. Chemików 1, 32-600 Oświęcim), entered to the Register of Entrepreneurs of Krajowy Rejestr Sądowy (KRS, National Court Register) kept by the District Court for Kraków - Śródmieście in Kraków, 12th Economic Division of the National Court Register, under the KRS number 0000490507 (hereinafter referred to as "Synthos Dwory 7"), together with all the related rights, to which SCSp agreed (acceptance in lieu). As a result of this agreement, SCSp became a partner of Synthos Dwory 7 in place of the Company. The Company, also today, passed a resolution to redeem Series A Bonds Payable issued on 22 November 2013 with the nominal value of PLN 100.00 (in words: one hundred zlotys and 00/100) each, numbered from A1 to A6.416.362 in consideration for the amount equal to the nominal value of the Series A Bonds, i.e. the total amount of PLN 641,636,200.00 (six hundred and forty one million six hundred and thirty six thousand two hundred zlotys and 00/100).

Green Pepper SCSp, Synthos Dwory 7 spółka z ograniczoną odpowiedzialnością Holding spółka komandytowo-akcyjna and Synthos Dwory 7 spółka z ograniczoną odpowiedzialnością spółka jawna are indirectly wholly owned subsidiaries of the Issuer. One of the members of the Board of the Issuer, Mr. Zbigniew Lange, is also a member of the Board of Synthos Dwory 7 sp. z o.o. which is the sole general partner of Synthos Dwory 7 spółka z ograniczoną odpowiedzialnością Holding S.K.A. and the partner authorised to the exclusive representation of Synthos Dwory 7 spółka z ograniczoną odpowiedzialnością spółka jawna, and a member of the Board of Green Pepper SCSp. The criterion for recognising the assets as assets of significant value is exceeding the value of 10% of total revenue from sales of the Issuer's Capital Group for the last four quarters, which, within the meaning of § 2 Section 1.45b of the Regulation, is the basis for recognising these assets as assets of significant value.