Ursus : Closing of the forward exchange transactions with mBank S.A. and Bank Polska Kasa Opieki S.A.

The Management Board of URSUS S.A. hereby informs that on the 20th March 2017 the Issuer settled the following forward sales transactions:

- in the amount of 5.000.000 USD, concluded on the 21 October 2016 with mBank S.A. with the seat in Warsaw, of which the Issuer informed in the Current Report no. 35/2016. The transaction was settled before its execution date which should be the 20th September 2017, at the forward exchange rate 3,9745 PLN,

- in the amount of 5.000.000 USD, concluded on the 14 November 2016 with mBank S.A. with the seat in Warsaw, of which the Issuer informed in the Current Report no. 42/2016. The transaction was settled before its execution date which should be the 18th April 2017, at the forward exchange rate 4,0545 PLN,

- in the amount of 5.000.000 USD, concluded on the 21 October 2016 with Bank Polska Kasa Opieki S.A. with the seat in Warsaw, of which the Issuer informed in the Current Report no. 35/2016. The transaction was settled before its execution date which should be the 20th October 2017, at the forward exchange rate 3,9807 PLN.

As a result of the above transactions the Company will receive at its bank account the equivalent of the difference between the exchange rate of the transaction date and the forward rate of the settlement date, i.e. the amount of 288.500 PLN.

All exchange transactions of the Issuer are executed in accordance with the Financial Risk Management policy assumed by the Issuer, within the Integrated Financial Risk Management System implemented in the Company and are related to the exposure resulting from the Company's contracts settled in foreign currencies.