ZUE : Current report 51/2017

Legal basis: Art. 17.1 of the MAR -Confidential Information.

Subject: Judgment by the National Appeal Chamber.

Content:

The Management Board of ZUE S.A. with registered office in Cracow (the "Company") inform that they learnt on 8 August 2017 about the judgment delivered on the same date by the National Appeal Chamber(the "Chamber"). The Chamber ordered that the selection by the City of Katowice and Tramwaje Śląskie S.A. (the "ContractingAuthority") of the most econmically advantageous tender submitted in the tender procedure for the construction of transport hub- the Zawodzie hub as part of the following project:"Katowice System of Integrated Transport Hubs" (the "TenderProcedure") be cancelled and the two contractors which ranked first and second, respectively, be excluded. The tenders were opened on 24 May 2017. The tender submitted by the consortium of:

1. ZUE S.A. (Leader); and

2. UNIBEP S.A. with registered office in Bielsk Podlaski (hereinafter jointly referred to as the "Consortium");

ranked third. The most econmically advantageous tender was selected on 10 July 2017. The Consortium appealed against the decision as a result of which the abovementioned judgment was entered by the Chamber.

Net value of the tender submitted by the Consortium in the Tender Procedure is PLN 54.0m and the expected net remuneration attributable to the Company is approx. PLN 27m.

Gross value of the tender submitted by the Consortium is PLN 66.4m. Project completion date according to the tender: 22 months.

The Company will inform about subsequent steps in the Tender Procedure in current reports.