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FINANCIAL RESULTS OF THE AGORA GROUP IN THE 1Q 2024

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FINANCIAL RESULTS OF THE AGORA GROUP IN THE 1Q 2024

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Kurs akcji [PLN]

11,76 zł

Zmiana[PLN]

1,2%

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Company data

AGORA S.A.
Czerska 8/10 Street
00-732 Warszawa

AGO 1,2%
mWIG40 -0,34%
WIG-MEDIA -0,26%

Regon: 11559486
Numer KRS: 59944
NIP: 526-030-56-44

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January 29, 2024 / 17:03

5/2024 Conclusion of agreement with trade unions on reduction of employment at Agora S.A.

Regulatory filing

The Management Board of Agora S.A. ("Company") with its registered seat in Warsaw, in relation to regulatory filing no. 3/2024 dated January 9, 2024, hereby informs about:

(i) concluding on January 29, 2024 an agreement  with trade unions operating at the Company (which fulfills the provisions of article 3, Section 1 of the Act of March 13, 2003 on Special Rules for Termination of Employment for Reasons Not Attributable to Employees) and with work council in the Company (which constitutes an agreement in accordance with the Act of April 7, 2006 on informing and consulting employees) ("Agreement"),

(ii) adopting by the Management Board of the Company on January 9, 2024 resolution to execute collective redundancies in the Company, in accordance with the provisions of the Agreement.

The collective redundancies shall be executed from February12 until March 31, 2024, and shall affect up to 180 employees.

In accordance with the Agreement, the laid-off employees will be provided by the Company with a wider range of supportive measures than required by law. In case the agreement on termination of employment is concluded, the redundancy payment estimated according to law regulations shall be increased by an additional compensation in the amount depending on the seniority at the Company and an additional benefit for persons who, prior to the employment at the Company, were a party to a civil contract with the Company lasting at least one year. The laid-off employees shall be supported by additional protective measures provided by the Company, i.a. help in searching for new job and reskilling, psychological care and basic medical care until the end of 2024. The Company, in accordance with requirements of law, shall submit an appropriate set of information, together with the signed Agreement, to a relevant Labor Office.

The estimated amount of provision for collective redundancies which will be charged to the Company and Agora Group's result in 1Q2024, shall amount to approximately PLN 10 million.

The Company shall provide its estimates of costs and savings related to the process of collective redundancies in the Management Discussion and Analysis for 1Q2024.

Legal basis: article 17, paragraph 1 of the Regulation of the European Parliament and Council Regulation (EC) No. 596/2014 of April 16th, 2014 on market abuse (Regulation on Market Abuse) and repealing Directive 2003/6/EC of the European Parliament and of the Council and the Commission Directive 2003/124/EC, 2003/125/EC and 2004/72/EC (Acts. Office. EC L 173, 06.12.2014).

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