Receipt of support from the Guaranteed Employee Benefits Fund

The Management Board of PKP CARGO S.A. (“Company”, “PKP CARGO”), with reference to Current Report No. 7/2020 of 7 May 2020, No. 9/2020 of 14 May 2020 and No. 14/2020 of 26 June 2020, hereby reports that it has been informed about the transfer, by the Voivodship Labor Office in Warsaw, of the second tranche of the subsidy for employee remuneration from the Guaranteed Employee Benefits Fund (“FGŚP”) in the amount of PLN 34.14 million.

The funds received are equal to one third of the entire amount requested by the Company (i.e. PLN 102.42 million) and correspond to the second of the three monthly periods covered by the memorandum of agreement referred to in Current Report No. 7/2020 of 7 May 2020.

At the same time the Company’s Management Board reports that the Voivodship Labor Office in Warsaw handed over the signed agreement on payment of the benefits towards protection of jobs from FGŚP to subsidize the remuneration of employees covered by downtime due to economic reasons or reduced work time as a result of COVID-19. The effective date of the agreement is the date of transfer of the first tranche of the funds to PKP CARGO S.A., i.e. 26 June 2020 (Current Report No. 14/2020).

Specific legal basis:
Article 17 Section 1 of MAR – confidential information