90/2022 - Information on conclusion of an annex to the contract by Trakcja S.A. - salary indexation

In reference to current report no. 18/2021, the Management Board of Trakcja S.A. (the "Company", the "Issuer"),  informs that today there was mutually signed by the Issuer as a Partner in the Consortium consisting of:
- Polimex Infrastruktura sp. z o.o. –Leader of the Consortium;
- Polimex Mostostal S.A. – Partner in the Consortium;
- Trakcja S.A. – Partner in the Consortium
jointly (the "Contractor")
and the Municipality of Olsztyn (the "Contracting Entity") an annex (the "Annex") to the contract concluded on 2 June 2021 entitled "Extension of tramway lines in Olsztyn" (the "Contract"). For reasons of force majeure circumstances related to the war in Ukraine, as well as the SARS-CoV-2 virus pandemic, it was decided that the remuneration due to the Contractor in connection with the Contract performance would be adjusted based on the value of the indexation rate, calculated according to the rules set out in the Annex. The indexation will be made on a monthly basis, for the months from March 2022 to October 2023. The maximum total indexation amount will not exceed PLN 51.3 million net, of which the value assigned to the Company is 50% of the indexation amount, i.e. up to PLN 25.7 million net. By virtue of the Annex, the Consortium waives claims against the Contracting Entity on account of, inter alia, a change in the Contractor's remuneration due to extraordinary circumstances.

The other material terms of the Contract remain unchanged under this Annex.

Legal basis:
Article 17 of MAR