Current Report 28/2020

The first session of the Company’s Audit Committee and the election of its Chairperson

Only the Polish version of this document is legally binding.                                                                                  This translation is provided for information only.                                                                                              Every effort has been made to ensure the accuracy of this publication.

In relation to current report No. 24/2020 of 9 July 2020 in which the Company informed about the election of the Audit Committee for the current term of office, the Management Board of INPRO SA with its registered office in Gdańsk (the “Company”, “Issuer”) acting on the basis of Articles 128 and 129 of the Act of 11/05/2017 on statutory auditors, auditing firms and public supervision (Dz. U. [Journal of Laws] of 2020, item 1415) [further the Act] informs that today, 9 September 2020, the first session of the Audit Committee of the first term of office consisting of the following persons took place:
1) Ms Beata Krzyżagórska-Żurek;
2) Mr Jerzy Glanc;
3) Mr Krzysztof Gąsak;
4) Mr Mariusz Linda.

Under §2 para. 9 of the By-Laws of the Audit Committee of INPRO SA [further the By-Laws], in connection with Article 129 para. 6 of the Act, the members of the Audit Committee of the current term of office appointed the Committee's chairperson, Ms Beata Krzyżagórska-Żurek, in resolution No. 1/2020.

Pursuant to Article 129 para. 3 of the Act on statutory auditors, auditing firms and public supervision, the Chairperson of the Audit Committee meets the independence criteria in relation to the Company. The Company also informs that pursuant to detailed principle II.Z.8 of the "Best Practice for GPW Listed Companies 2016", the Chairperson of the Audit Committee shall meet the independence criteria included in Annex II to Commission Recommendation 2005/162/EC of 15 February 2005 on the role of non-executive or supervisory directors of listed companies and on the committees of the (supervisory) board. The Chairperson of the Audit Committee shall manage its work and perform other tasks prescribed by the By-Laws, and shall have the casting vote in the case of voting in which an equal number of votes were cast.

The other persons mentioned above fulfil the function of the members of the Audit Committee, and Mr Mariusz Linda is a member who is independent of the Company in the meaning of the provisions of the Act specified above.

The Company informs that according to the statements made by the members of the Audit Committee, its current bench meets other requirements set out in Article 129 paragraphs 1 and 5 of the Act, that is:
a) At least one of the members of the Audit Committee shall have the knowledge of and skills in accounting or the audit of financial statements.
b) Audit Committee members shall have the knowledge of and skills in the trade in which the Company operates.

Detailed legal grounds: Article 17 para. 1 of the Regulation of the European Parliament and of the Council (EU) No 596/2014 of 16 April 2014 on market abuse (the market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC (also referred to as the MAR).