UNOFFICIAL TRANSLATION:
Current report No. 38/2020
Date of preparation: 2020-06-01
Short name of the issuer: i2 Development S.A.
Subject: Recommendation of the Management Board of i2 Development S.A. regarding the distribution of profit for 2019

Legal basis: Article 17 para. 1 MAR – confidential information

Management Board of i2 Development S.A. ("Issuer" or "Company") informs that on May 29, 2020, it adopted a resolution on a proposal to divide the Company’s profit for 2019. The Management Board of the Company has decided to change the assumptions of the current Dividend Policy of the Company presented in the Issue Prospectus of 2016, which change will apply to the payment of dividend from the Issuer’s net profit for the year ended December 31, 2019, in such a way that the Management Board decided to recommend to the Ordinary General Meeting of the Company, resignation from dividend payment and allocation of net profit in the amount of PLN 5,615,872.82 in full to the Company’s supplementary capital. The COVID-19 pandemic and its short-term and long-term impact on the global and Polish economy, including the real estate market, which may adversely affect the operations of the Company and its Capital Group have a key impact on the Management Board’s decision (detailed description of the potential impact of a pandemic on the operations of the Company and its Group Capital Group was presented in current report no. 20/2020 of 26/03/2020).

At the same time, the Management Board of i2 Development S.A. informs that it intends to make a request to the Company’s Supervisory Board to recommend to the Ordinary General Meeting of the Company how to allocate profit in accordance with this recommendation of the Issuer’s Management Board.

Signatures of persons representing the Company:
2020-06-01   Marcin Misztal   President of the Management Board