ASSESSMENT BY THE SUPERVISORY BOARD OF CIECH S.A. OF THE MANAGEMENT BOARD REPORT AND FINANCIAL STATEMENTS
1
Appendix 1 to the resolution of the Supervisory Board of CIECH S.A. No. 10/2023 of March 23, 2023 on acceptance of the
assessment of the Supervisory Board of CIECH S.A. concerning the Management Board Report on the activities of the CIECH
Group and the Financial Statements (separate and consolidated) for 2022
ASSESSMENT BY THE SUPERVISORY BOARD OF CIECH S.A. OF THE MANAGEMENT BOARD REPORT ON
ACTIVITIES OF THE CIECH GROUP AND CIECH S.A. IN 2022, THE FINANCIAL STATEMENTS OF CIECH S.A.
FOR 2022 AND THE CONSOLIDATED FINANCIAL STATEMENTS OF THE CIECH GROUP
FOR 2022
I. SUBJECT MATTER OF THE ASSESSMENT
The subject matter of this assessment includes:
1. Management Board Report on activities of the CIECH Group and CIECH S.A. in 2022;
2. Financial Statements of CIECH S.A. for 2022 prepared in accordance with the International Financial Reporting Standards;
3. Consolidated Financial Statements of the CIECH Group for 2022 prepared in accordance with the International Financial
Reporting Standards.
II. ASSESSMENT OF THE MANAGEMENT BOARD REPORTS AND FINANCIAL STATEMENTS
Assessment of the Management Board Report on activities of the CIECH Group and CIECH S.A. in 2022
The Supervisory Board of CIECH S.A. assessed the Management Board Report on activities of the CIECH Group and CIECH S.A. for
2022 and reviewed the results of the audit presented by CIECH S.A.’s auditor (Deloitte Audyt Spółka z ograniczoną
odpowiedzialnością Sp. k.), the auditor report and the report for the Audit Committee and based on information and materials
received from the Auditor, the Management Board and representatives of the Company, concluded that the report:
- was prepared in accordance with Article 49 of the Accounting Act of 29 September 1994 (Journal of Laws of 2019, item 351)
and § 70 and § 71 of the Regulation of the Minister of Finance of 29 March 2018 on current and periodical information
submitted by issuers of securities and on conditions for deeming equivalent information required by the law of a Non-
Member State;
- is consistent with the information contained in the Financial statements of CIECH S.A. for 2022 and Consolidated financial
statements of the CIECH Group for 2022.
The Supervisory Board of CIECH S.A. on the basis of information and materials received from the Auditor, the Management Board
and representatives of the Company concludes that the Management Board Report on activities of the CIECH Group and
CIECH S.A. for 2022 contains a description of all material events that may have an influence on the CIECH Group’s and CIECH S.A’s
financial position and performance over the upcoming quarters as well as a description of material risks.
Further to the foregoing, the Supervisory Board of CIECH S.A. expresses a positive assessment of the Management Board Report
on activities of the CIECH Group and CIECH S.A. for 2022.
Assessment of the Financial statements of CIECH S.A. for 2022
The Supervisory Board of CIECH S.A. concludes that it assessed the Financial statements of CIECH S.A. for 2022, comprising:
a) a statement of profit or loss for the period from 1 January to 31 December 2022, showing a net profit of
PLN 612,255 thousand,
b) a statement of other comprehensive income for the period from 1 January to 31 December 2022, showing total
comprehensive income of PLN 597,474 thousand,
c) a statement of financial position as at 31 December 2022, showing both total assets and total equity and liabilities of
PLN 5,290,147 thousand,
d) a statement of changes in equity, showing an increase in equity as at 31 December 2022 by PLN 518,424 thousand,
e) a statement of cash flows for the period from 1 January to 31 December 2022, showing an decrease in cash by