Ki Chemistry S.à R.L made an offer to acquire 48.86% stake in for PLN 1.3 billion on March 9, 2023. The Offeror agree to acquire 25.7 million shares at PLN 49 per share. The offer will expire on April 12, 2023. As of March 22, 2023, minority shareholders declare the PLN 49 price tag in a tender offer by majority shareholder KI Chemistry as below fair value. After the tender offer, KI Chemistry does not plan to change the location of CIECH S.A.'s operations or employment policy, in particular, it does not plan to reduce employment in the Company. The Management Board of CIECH S.A. positively evaluates the above declaration of KI Chemistry. Moreover, bearing in mind the intention to support the Company in its current and planned operations, the intention of KI Chemistry to maintain the current profile of the Company's operations, its employment policy and the location of its operations is also positively assessed. On April 4, 2023, KI increased the offer price to PLN 54.25 per share. On April 12, 2023, Dawid Jakubowicz, President of the Management Board of CIECH SA and Jaroslaw Romanowski expressed their willingness to sell all shares. In the case of reaching the threshold of at least 95% as a result of the summons. of the total number of votes at the GM of Ciech, KI Chemistry intends to carry out a compulsory buyout of shares belonging to the remaining shareholders, and then withdraw the company's shares from trading on the stock exchange. Subscriptions for the sale of shares last until April 17, 2023. According to the new schedule, The acquisition of the shares by KI Chemistry is expected to take place on April 20, 2023 and the transaction will be settled on April 21, 2023. The sale of 25.7 million Ciech shares, representing 48.86% of the share capital, have not been met.

The Management Board of Ciech SA referred to two independent opinions regarding the share price offered in the tender offer prepared by renowned advisors: Lazard & Co., Limited and Rothschild & Co Polska sp. z o.o.

Ki Chemistry S.à R.L. completed the acquisition of 7.08% stake in Ciech S.A. (WSE:CIE) on April 20, 2023.