Material transactions

Material transactions with related parties:

• transactions concluded by the GTC S.A.’s related parties with the GTS S.A. or its subsidiaries, respectively.
• materiality of a transaction is determined based on the threshold of 5% of the GTC S.A.'s or its subsidiary’s total assets, respectively. The values of individual transactions concluded with the same related party in the preceding 12 months, with none of the transactions individually exceeding 5% of the total assets of the GTC S.A. or its subsidiary, respectively, are added up.

The above does not apply to:

• transactions executed on an arm’s-length basis in the ordinary course of business of the GTC;
• transactions executed by the GTC S.A. with its wholly-owned subsidiary;
• transactions involving payment of remuneration to members of the management or supervisory boards, payable in accordance with the remuneration policy adopted by the GTC;
• transactions notified by a public company under Article 17(1) of MAR.