Transfer Plan

The Board of Directors of INVESTMENT FRIENDS SE with its registered office in Tallinn informs that on 30.11.2018. the Register of Commercial Companies _Ariregister_ competent for the law of Estonia registered the transfer of the Issuer’s registered office to Estonia pursuant to the provisions of the Transfer Plan dated 19.03.2018. published by current report no. 12/2018 dated 19.03.2017 and the Resolutions of the Annual General Meeting dated 30.05.2018. published by current report no. 31/2018 dated 30.05.2018r. and Resolutions of the Extraordinary General Meeting of 19.11.2018.

In view of the above, the Issuer informs that the current registered office of the Company is Tallinn, Estonia. The address of the registered office of the Company is: Harju maakond, Tallinn, Kesklinna linnaosa, Narva mnt 5, 10117. The website and e-mail address remain unchanged: info@ifsa.pl, http://ifsa.pl/

In view of the above, the Issuer also informs that the Company’s address for service is the registered office address, i.e. Harju maakond, Tallinn, Kesklinna linnaosa, Narva mnt 5, 10117.

Simultaneously with the registration of the change of the Company’s registered office, the competent registry under Estonian law registered the changes to the Company’s Articles of Association.

Attached to this report, the Issuer provides the current wording of the Company’s Articles of Association.

Furthermore, the Issuer informs that it has submitted a request to the Board of the Warsaw Stock Exchange to immediately suspend trading in the Company’s shares at least until 07.12.2018 in order to carry out the necessary registration procedures for changing the ISIN code of the Company’s shares registered with the NDS.

Attachments:

• Articles of Association
• Current report no. 49/2018

The Management Board of Investment Friends SE in Plock informs that in connection with the ongoing procedure for the transfer of the registered office of the Company and in reference to the resolutions adopted by the Extraordinary General Meeting of the Company of 19.11.2018r. hereby informs that on 23.11.2018 the Issuer’s Plenipotentiary submitted the relevant documentation to the Notary Office in Tallinn in order to register the Company in the relevant Estonian law register _Ariregister_ and thus to register the change of the Company’s Articles of Association and the Company’s registered office. The Issuer, taking into account the complexity of the registration procedure, upon verification of the correctness of the said registration application, will apply to the Warsaw Stock Exchange for suspension of the Issuer’s quotations for a period of 3 to 5 trading days, necessary to implement the change of the ISIN code of the Issuer’s shares.

Attachments:

• Current report no. 49/2018

The Management Board of INVESTMENT FRIENDS SE with its registered office in Plock hereby refers to current report No. 12/2018 dated 19.03.2018. regarding the Plan to move the registered office of the Company to Estonia and with reference to the resolutions of the Annual General Meeting of the Company dated 30.05.2018r. published in the current report no. 31/2018 dated 30.05.2018r. hereby informs that on 29.08.2018. The Management Board of the Company received the Decision of the District Court for the Capital City of Warsaw in Warsaw dated 24.08.2018. issued at the request of the Issuer constituting a certificate pursuant to Article 8(8) of Council Regulation _EC_ 2157/2001 of 8 October 2001 on the Statute of the European Company _SE_ _Official Journal of the EU.L No 294, p.1_ confirming the completion of acts and legal actions to be completed before transferring the registered office to another country of the European Union.

The Issuer informs that issuance of the certificate by the Polish Court enables the Company to undertake registration procedures in Estonia in order to enter the company in the Estonian register of commercial companies _Ariregister_. Upon registration of the Company by the Estonian equivalent of the National Court Register, the Company’s registered office will be transferred to Estonia.

Therefore, the Issuer informs that it will immediately apply for registration of the Company in Estonia. The Issuer also announces that pursuant to the Schedule for the Transfer of the Company’s Registered Office attached to the Transfer Plan, the submission of the application for the registration of the Company in the Estonian Register of Commercial Companies is the last step necessary for the transfer of the Company’s registered office to Estonia.

Attachments:

• Current report no. 41/2018

The Management Board of INVESTMENT FRIENDS SE in Plock, with reference to current report No. 10/2018 dated 16.03.2018r. hereby publishes the Plan for the Relocation of the Company’s registered office to the Republic of Estonia. Detailed information on the procedure for the transfer of the Company’s registered office is included in the Transfer Plan, which contains information on the consequences of the change of the Company’s registered office for the Company’s shareholders and creditors, an indicative timetable and the proposed wording of the Company’s Articles of Association adapted to the laws existing in the Republic of Estonia . Furthermore, attached hereto is the Management Board Report explaining and justifying the legal and economic aspects of the transfer and explaining the consequences of the transfer for shareholders and creditors as referred to in Article 8(3) of Council Regulation _EC_ No. 2157/2001 on the Statute of the European Company _SE_ of 8 October 2001. _J.Urz.EU.L No.294, p. 1_. The Issuer’s Management Board announces that the procedure for changing the Company’s registered office will not affect the listing of the Issuer’s shares on the Warsaw Stock Exchange.

Attachments:

• Plan for transfer
• Report of the Management Board Transfer of the Registered Office
• Current report no 12/2018

The Management Board of INVESTMENT FRIENDS SE, Plock, informs that on 16.03.2018. the Company received a request from the shareholder of PATRO INVEST Sp. z o.o. with its registered office in Płock, submitted pursuant to Article 55 of Council Regulation _EC_ No. 2157/2001 of 8 October 2001 on the Statute of the European Company _SE__J.Urz.EU.L No. 294, p. 1_ in connection with Article 400 § 1 of the Polish Commercial Companies Code, requesting that the General Meeting be convened and that the following items be placed on the agenda of this General Meeting:

Adoption of a resolution to transfer the Company’s registered office to Estonia, to comply with Estonian law, to grant authorizations to the Company’s Board of Directors,

Adoption of a resolution to amend the Articles of Association of the Company,

The shareholder, in the wording of the motion dated 16 March 2018, included a justification of the motion and provided a proposal for the new wording of the Company’s Articles of Association after the transfer of the Company’s registered office to Estonia. Attached to this report, the Issuer’s Management Board provides the received on 16 March 2018. shareholder’s motion together with a justification and the proposed wording of the Company’s Articles of Association, the wording of which is to be the subject of resolutions of the General Meeting convened in execution of the shareholder’s motion.

The Board of Directors of INVESTMENT FRIENDS SE announces that, in view of the Shareholder’s request, it will take the necessary steps to carry out the actions preceding the adoption of the resolution on the transfer of the Company’s registered office resulting from the content of Article 8 of Council Regulation _EC_ No. 2157/2001 of 8 October 2001. on the Statutes of the European Company _SE__J.Urz.EU.L No.294, p.1_ and other applicable laws, and furthermore the Management Board announces that it intends to take action to convene a General Meeting whose agenda will include the matters covered by the shareholder’s request of 16 March 2018.

The Issuer’s Management Board will provide all necessary information regarding the implementation of the procedure preceding the adoption of resolutions on the transfer of the Company’s registered office by means of separate current reports and on the Issuer’s website.

Attachments:

• Proposed wording of the Articles of Association
• Shareholder proposal
• Current report no 10/2018