Black Lion NFI S.A. Information

Black Lion Narodowy Fundusz Inwestycyjny Spółka Akcyjna was established under the notarial deed on 15th December 1994 by the Minister of Privatization acting on behalf of the National Treasure within the framework of the General Privatization Program (PPP). On 13th March 1996 by the resolution of Extraordinary Shareholders' Meeting (NWZA) the name of the fund Czwarty Narodowy Fundusz Inwestycyjny Spółka Akcyjna (IV NFI S.A.) changed into Narodowy Fundusz Inwesycyjny "Progress" Spółka Akcyjna (NFI Progress S.A.). On 13th of May by the resolution of Extraordinary Shareholders' Meeting (NWZA) name of the fund changed in to the Black Lion Narodowy Fundusz Inwestycyjny SA. In 1997 the Polish Securities and Exchange Commission S.A. permitted the shares of the Fund to public trade and then these shares were quoted on the Stock Exchange in Warsaw S.A. Since October 2008 the equity of NFI Progress S.A. is managed under the agreement by the Managing Company - now it is Fund Management Black Lion Sp. z o.o. SKA (previously Assets Management Equity Fellows Sp. z o.o. SKA.). According to the Articles of Association the subject of Fund’s activity is acquiring the securities issued by the National Treasure, acquitting or taking up shares or stocks or other securities issued by the registered entities and acting in Poland, as well as execution of the rights to shares, options of stocks and other securities.