Conclusion by the Consortium composed of: Izostal S.A. (Consortium Leader), Ferrum S.A. (Consortium Partner) and Stalprofil S.A. (Consortium Partner) of an Annex to the Agreement for the supply of insulated steel pipes DN1000 to O.G.P. Gaz-System S.A.

Legal basis: Art. 17 Clause 1 MAR - confidential information.
 
CONTENT OF THE REPORT:
In connection to the current report no. 22/2021 of November 23, 2021, the Management Board of Izostal S.A. (the Company) informs that the Consortium of companies (the Contractor) composed of: Izostal S.A. (Consortium Leader), Ferrum S.A. (Consortium Partner) and Stalprofil S.A. (Consortium Partner) on May 20, 2022 was informed about the signing with O.G.P. Gaz-System S.A. (the Ordering Party) an Annex to the Agreement for the performance of the task entitled: "Delivery of insulated steel pipes for the needs of the Gustorzyn-Wronów and Dolna Odra gas pipeline, order no. 2", procedure number: ZP/2021/04/0046/PZ, Part no. 1.

In the course of the implementation of the Agreement, a state of force majeure occurred in connection with the aggression of the Russian Federation against Ukraine started on February 24, 2022. This resulted in economic and individual sanctions as well as significant restrictions in the financial sector and international trade. In connection with the above, the Contractor had to relocate the production of part of the Subject of the Agreement, which is associated with an increase in prices.

Under the concluded Annex, the value of the Agreement was increased to PLN 218.6 million net, which constitutes PLN 268.9 million gross.

The other provisions of the Agreement remained unchanged.

The Management Board of the Company considers the concluded Annex significant due to its high value.

SIGNATURES OF PERSONS REPRESENTING THE COMPANY:
Management Board Vice President, Michał Pietrek 2022-05-20
Proxy, Mariusz Spałek  2022-05-20

INFORMATION ON THE ENTITY:
Full name of the issuer: IZOSTAL SPÓŁKA AKCYJNA
Abbreviated name of the issuer:  IZOSTAL S.A.
Sector based on the classification of Warsaw Stock Exchange:  Other industry
Address: 47-113 Kolonowskie, Opolska 29
Telephone: +48 77 405 65 00
Fax: +48 77 405 65 01
e-mail: info@izostal.com.pl
www.izostal.com.pl
VAT No. [NIP]:756-00-10-641
Statistical No. [REGON]: 530884678