Current report no. 9/2015

Date of issue: 2015-04-24

Name of issuer: TALEX

Subject: Conslusion of the significant agreement with PKO BP S.A.

Legal basis: Art. 56 (1) (2) of the Act of 29th July 2005 on public offerings - current and periodic information

The contents of the report:

The Management of Talex S.A. hereby informs that today the Company signed the agreement with Powszechna Kasa Oszczędności Bank Polski S. A. with its registered office in Warsaw (Bank). The agreement has been concluded for a fixed period, till 30 June 2018.

The subject of the agreement is the provision of technical support and maintenance services of IT equipment as well as utility software in the business units of the Bank, banking agencies and selected units of the Bank Capital Group in Poland.

The total estimated gross value of the services provided in the period of 3 years (the value of the agreement) is PLN 22.5 million. The total actual value of the agreement is dependent upon the number of services commissioned under the agreement.

The agreement provides for the following contractual penalties:

• in the amount of 20% of the monthly salary if more than 10% of all services ordered by the Bank in a given month would not be carried out in a given period;
• in the amount of PLN 15,000 for each day of delay, resulting from the fault of the Company, in relation to the period of takeover of units for service, agreed upon between the Parties;
• in the amount of PLN 10,000 for each day of delay resulting from the fault of the Company, in relation to the date, agreed upon between the Parties, of the interface implementation between the IT systems of the Parties of this agreement;
• in the amount of PLN 250,000 in the event of termination or non-renewal of the insurance agreement, which the Company is supposed to have according to this agreement;
• in the amount of PLN 15,000 for each event consisting of a failure to immediately inform the Bank of any circumstances which could have an adverse impact on the implementation of the agreement;
• in the amount of PLN 10,000 for each event consisting of a failure to immediately inform the Bank about a security incident occurence (as defined in the Agreement).

The payment of contractual penalties shall not exclude the right to claim compensation by the Ordering Party in the amount exceeding the amount of these penalties.

The criterion to consider the agreement as significant: the amount of equity.

TALEX SA declares that corporate documents and financial reports are published in English for information purposes only. TALEX SA is not liable for the accuracy of the translation of the original documents in Polish. The original versions of that documents are available at the management board office in Poznań, Karpia Street 27d.