Annual report 2015:

In 2014 INC S.A. INC S.A. incurred a net profit in amount of PLN 1.018 mln. A decisive impact on the results had the valuation of shares of the portfolio companies listed both on organized market NewConnect and on regulated market. The profit from revaluation of the investment portfolio for 2015 was PLN 2.200 mln and the gain from the introduction of trading companies was PLN 138 000, the profit from the sale of consulting services amounted to PLN 72 000, the profit on the sale of securities and interest and dividends was PLN 509 000.

As of 31.12.2105, the equity of INC S.A. Capital Group amounted to PLN 25.375 million.

Annual report 2015

Consolidated Annual Report 2015:

In 2015 INC S.A. Capital Group incurred a net profit in amount of PLN 438 000. A decisive impact on the results had the valuation of shares of the portfolio companies listed both on organized market NewConnect and on regulated market. The profit from revaluation of the investment portfolio for 2015 was PLN 2 260 000 and the gain from the introduction of trading companies was PLN 138 000, the profit from the sale of consulting services amounted to PLN 201 000, the profit on the sale of securities and interest and dividends was PLN 432 000.

As of 31.12.2015, the equity of INC S.A. Capital Group amounted to PLN 32.811 million.

Consolidated Annual Report 2015

INC in 2015:

On January 19, 2015 was announced the list of Authorized Advisers AeRO market - the alternative market of the Bucharest Stock Exchange (BVB). Among the 22 companies that have received the license, only three companies - including the INC SA - are not local brokerage houses. INC S.A. is also the only Polish company which has obtained authorization.

On September 30, 2015 INC S.A. acquired 100% of the shares of the PricewaterhouseCoopers Securities SA brokerage house on the basis of an agreement from 09.30.2015. Seller was PricewaterhouseCoopers Eastern Europe BV, with its headquarters in Rotterdam. PricewaterhouseCoopers Securities SA is authorized by the Polish Financial Supervision Authority to conduct offerings of financial instruments. Brokerage house changed its name to INC Brokerage House S.A. The Company was included into INC Group.

On October, 28, 2015 INC Rating Ltd. - subsidiary of INC S.A. have been registered by ESMA in accordance with Regulation (EU) No 1060/2009 of the European Parliament and of the Council of 16 September 2009 on credit rating agencies (the Credit Rating Agencies Regulation). INC Rating will will assigns credit ratings for local government units. INC Rating Ltd. is a third credit rating agency (CRA) with its headquarters in Poland.

INC in 2016:

In 2016, the Company will continue its activities in current directions, that is in terms of capital investment and advisory services in the capital market, including international markets. The aim of the Company will be strengthen the capacity of the Brokerage House, as well as the expansion of the business network of the Group.

INC SA will try to take advantage of its potential, as well as financial resources by appropriately response to changing conditions in the financial markets.

INC SA issued this content on 17 March 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 22 March 2016 11:19:49 UTC

Original Document: http://www.incsa.pl/en/505-17-03-2015-the-publication-of-inc-s-a-annual-report-for-2015