DISCLOSURE OF BENEFICIAL OWNERSHIP CROATIAN CENTRAL DEPOSITORY AGENCY (CDA)

Accounts and presumed ownership of dematerialised securities Securites are held in the name of the beneficial owner i.e. on an individual account basis on behalf of retail investor. The owner of security is the person in whose name the account is opened, in which account the security is recorded. An account can be in the name of a single person, joint account for co- owners and representatives and a custodian account. Custodian account can be either in the name of customer, code account or omnibus account. It’s always nominee registrated account in which securities are kept for the account of a third party, so the owner of these securities is the person for whom the custodian is keeping them.

Transfer of ownership in securities The ownership is acquired through transfer of securities from the transferor’s account to the transferee’s account, exactly in the moment of its entry in the account. Transfer of ownership based on an Exchange transactions is performed by the clearing and settlement services through which services ownership currently passes on T + 4 as settlement day. Off the market acquisition/termination of ownership is performed in the depository re-booking procedure on the basis of valid written contracts, judicial or other appropriate decisions and pursuant to law.

Reporting requirements CDA is obliged to inform the issuers on securities they issued and on owners of these securities the owners on the balance and changes in their account participant members on data essential to them CROSEC by monthly reports with prescribed content The data concerning the identity of 10 largest owners of any security are accessible to the public At the Commission’s request, the custodian shall enable the Commission to inspect the custodial book and all other documentation

Concealment of ownership When a person (legal or natural) acquires or releases (directly or indirectly) shares of a public joint stock company, resulting with exceeding or falling bellow the thresholds of 10%, 25%, 50% or 75% of votes in the assembly, that person must within 15 days notify in writing the Commission or the Issuer on that acquisition or release. Whosoever omits to supply data on ownership pursuant to previous rule shall be subject to a fine not exceeding 200 daily incomes or up to one-year imprisonment. In case of considerable material gain or considerable damage, the offender shall be subject to a fine of at least 250 daily incomes or up to three years imprisonment.

Accessibility of data from the Depository Data on the balance of accounts should be kept CONFIDENTIAL, with following EXCEPTIONS: The Issuer has the right of access (to the data on his issues and data on the owners of these securities) The owner of securities and the custodian bank have the right of access CROSEC has the right of access to all the data kept in the depository Each person who proves his legal interest has the right of access When the offeree's obligation to publish a takeover bid has arisen, the depository shall, upon the offeree’s request, provide the offeree with information concerning shareholders and issuer's shares.

Judicial and administrative bodies that have the right of access to data kept in the Depository Following bodies have the right of access on the basis of a written request and within the authorities pursuant to provisions of separate law (other then Securities Market Act) COURTS, STATE ATTORNEYS AND PUBLIC NOTARIES COMPETENT TAX AUTHORITIES THE AGENCY FOR THE PROTECTION OF MARKET COMPETITION STATE AUDIT BUREAU PREVENTION OF MONEY LAUNDERING BUREAU