Financial Results for Quarter 1 of May 2010 Sustainable profit, guaranteed future

This presentation covers Quarter 1 of Reporting Year 2010, i.e. the period from 1 January through 31 March On 1 January 2010 the Group aligned its reporting year with the calendar one. As agreed with KNF (Financial Supervision Commission), the report for Q compares its financial data against its performance in the period from August through October In Quarter 1 of the Reporting Year 2010, the ACTION S.A. Group earned a consolidated net profit of PLN 8,020 M and ACTION S.A.'s individual net profit amounted to PLN 9,251 M Net loss of subsidiary units dropped from PLN - 3,084 M in the compared Q3 2008/2009 to PLN - 1,231 M in Q Quality of the Year Award and Golden Quality of the Year Award for ActiveJet brand. GROUP IN QUARTER 1 OF

3 [in PLN thousand] Quarter (January – March) Quarter /2009 (August - October) Sales revenue 483,246608,405 Gross profit on sales39,66062,372 Gross margin on sales8.2%10.3% Cost of sales and marketing27,31631,770 Related to revenue5.7%5.2% General administrative costs5,4216,788 Related to revenue1.1% Other revenue and benefits4,1584,074 Other costs and losses ,943 Operating result10, ,055 Net financial costs8971,555 Net result8, ,420 Net profit margin1.7%- 3.,0% SELECTED FINANCIALS ACTION S.A. Capital Group, January - March 2010

4 QUARTER 1 AT ACTION S.A. Comparable to the respective period of previous year Sales revenue (PLN M) -1,46 % * -27 % Net profit (PLN M) Net profit for Quarter is compared to that of Q /2009 (February – April) because the financial data for January through March 2009 is not representative due to the fact that the result for January 2009 includes exceptional margins on sales of goods purchased at significantly lower prices in 2008.

MARKET IN QUARTER Q2 2009Q3 2009Q4 2009Q Q1 2010/ Q PLN MM + / - % Consumer electronics 1,4771,4382,0571, % Photo % Large home appliances 1,2881,5801,4721, % Small home appliances % Computer hardware1, ,1411, % Telecommunications % Office equipment and consumables % Gfk TEMAX Polska5,7255,9847,2425, % Source: GfK Retail and Technology

The Company sees no perspective of revival of the IT or consumer/white goods market (low consumption, which induces a price war). Maintaining good relationships with existing customers Actions aimed at obtaining new sales channels and new customer groups: –retail – food segment (Auchan, Carrefour, Real, Tesco) –retail – cash&carry segment (Selgros, Makro) –retail – discounts (Biedronka, Kaufland, Lidl, Polo Market) –retail – DIY segments (Leroy Merlin, Castorama, OBI, Praktiker) –retail – food wholesalers –electrical and lighting wholesalers Increasing the number of active clients of the Export Department and broadening the Group's export offer Increasing the Group's share in the consumer electronics/white goods distribution market: –market penetration in small and medium-sized retail sector –launching a dedicated sales team 6 OPERATIONS IN STAGNATION PERIOD January - March 2010

Strong emphasis on increasing the Group's performance, searching for internal cost synergies Optimising operating costs Maximum reduction of new investment costs Leveraging the synergy of co-operation with ACTION S.A., taking advantage of its strong logistics potential in relationships with numerous e- commerce customers: –logistics –and country-wide drop-shipping (Sferis and partner shops) 7 OPERATIONS IN STAGNATION PERIOD January - March 2010

SFERIS COMPUTER PRODUCTS RETAIL CHAIN Opening new "island stand" points of sale –9 stands open in Q –target: 90 stands as at end of 2010 E-commerce drop-shipping program –over 3,000 shipments issued in March 2010 Moving SFERIS Sp. z o.o. head office to ACTION S.A. HQ 8 SFERIS January - March 2010

E-COMMERCE January - March 2010 GRAM.PL PROJECT Quarter with record-breaking sales: 24.6 % increase compared to prev. quarter Heaviest visitor traffic so far Launching an offer of APPLE products Shopping for unregistered users – 10% share in all Quarter 1 sales (including 70% by new customers) 9 A.PL ONLINE DELICATESSEN Orders increased by over 105% (March 2010 to March 2009) Average order value increase by 24% exceeding 250 zloty ( March 2010 to March 2009) Move to a new 1,200 sqm warehouse that will allow tripling order processing capacity and reduce overhead at the same time.

10 THANK YOU FOR YOUR ATTENTION Contacts for the press and representatives of the capital market Anna Bielińska – Corporate Communication Director Telephone: , Dominika Lenkowska – Martis CONSULTING Telephone: ,