Letter from the Chairman of the Supervisory Board of Asseco Poland S.A. to Shareholders.

Dear Shareholders of Asseco Poland S.A.,

The year 2025, which has only recently drawn to a close, proved to be a breakthrough period for Asseco Poland S.A. The consistent execution of the Asseco Group’s development strategy, coupled with significant changes in its shareholder structure – changes that were very well received by the market – translated into a substantial increase in the company’s value. With this in mind, I would like to share with you a brief reflection on the key events of the past year.

In January 2025, a new significant investor joined the group of Asseco's shareholders – the Dutch company Total Specific Solutions (TSS). Under the agreement concluded with TSS, Asseco Poland S.A. sold the treasury shares acquired in a buyback program carried out in 2023. The entry of the new investor and a shared vision for the Company's further development, confirmed by the shareholders’ agreement between TSS and Adam Góral Fundacja Rodzinna (the Adam Góral Family Foundation), became a significant catalyst for the growth of the share price and increased interest in the company from new investors.

In 2025, Asseco’s share price rose by over 130%, reaching PLN 228.40 per share at year-end, which represents an increase in the Company’s market capitalization of more than PLN 11 billion — to PLN 19 billion. At its peak, Asseco’s market value exceeded PLN 21 billion for the first time in its history.

In October, Mr. Ramon Zanders, representing TSS in relation to its investment in Asseco, addressed an open letter to Asseco's Shareholders, outlining the key principles, plans and expectations for the company’s further development. At the same time, he confirmed TSS's long-term approach to investing in the company, based on building lasting value for customers and shareholders, while respecting Asseco's existing organizational culture, values and Polish roots.

The letter placed strong emphasis on the strategic importance of the planned management succession process, ensuring leadership continuity and strengthening the alignment between the interests of key executives and those of the shareholders. It also highlighted priorities related to long-term growth fundamentals, such as the development of recurring revenues, improvement of profitability, capital allocation discipline and generation of stable cash flows.
This long-term vision also included preliminary plans to implement three incentive programs designed to support the succession process and further development of the Asseco Group, while maintaining transparency and protecting the interests of shareholders. The market responded very positively to the new investor's initiative.

In accordance with the adopted assumptions, the objective of the incentive programs is to ensure long-term commitment to the implementation of the Company's development strategy.

The programs aim to permanently bind key managers to the Company, which should directly translate into increased operational efficiency, improved financial results and stability of Asseco's operations. Such solutions are commonly used in publicly listed companies in the technology sector and are the market standard, also among Asseco's competitors in Poland and abroad.

The implementation of incentive programs will support the retention of key specialists whose knowledge, experience and competencies have a significant impact on the development of the Asseco Group and its competitive advantage. The programs have been designed as a broadly scoped tool, addressed to a selected group of mid- and senior-level managers who play a key role in the implementation of the company's operational and strategic objectives.

A special role will be played by the program dedicated to Asseco's founder, Adam Góral – the program's goal is to implement the plan to transfer the management of the Company to Rafał Kozłowski. The continued active involvement of Adam Góral during the transition period is essential to preserving strategic continuity, ensuring effective knowledge transfer and mitigating operational risks at a pivotal time for the company. This program is therefore an integral part of the succession strategy and provides the shareholders with an assurance of continuity in line with Asseco's current development direction.

The shares allocated to participants in incentive programs will come from the pool of the treasury shares previously acquired by the Company on the basis of the authorization of the General Meeting of Shareholders, granted in Resolution No. 5 of the Extraordinary General Meeting of June 15, 2023, or on the basis of other resolutions of the General Meeting authorizing the Company to acquire the treasury shares for the purposes of incentive programs.

Yours sincerely,

Jacek Duch
Chairman of the Supervisory Board of Asseco Poland S.A.