1. GPW 2007 – NOWA JAKOŚĆ INVESTORS IN EXCHANGE TRADING in 2011 - survey summary

2. 2 Research form: questionnaire; respondents provided exact values; Respondents: 29 domestic WSE members; Timing: January-February 2012; Data for the period: H2 of 2011, annual aggregated data based on the results for H1 and H2 of the year; Market maker activity and client portfolio management treated as domestic institutional investor activity; Survey taking into consideration trading in sessions on the WSE Methodology notes

3. 3 Main Market *turnover calculated for both transaction parties

4. 4 NewConnect * turnover calculated for both transaction parties

5. 5 Futures contracts * turnover calculated for both transaction parties

6. 6 Options * turnover calculated for both transaction parties

7. 7 InvestorsInstruments2005200620072008200920102011 Foreignshares MM 413133433647 shares NC 32223 contracts 5910 111416 options 1312 4 24 Retailshares MM 26353018271918 shares NC 92 888777 contracts 77665653525046 options 75715358656064 Institutionalshares MM 33343739373435 shares NC 56101120 contracts 18253437 3638 options 24263530312812 Summary – percentage data *turnover calculated for both transaction parties

8. 8 InvestorsInstruments200620072008200920102011 Foreign shares MM (mm PLN)96 985151 801136 239120 422193 286235 647 shares NC (mm PLN)---5141976112 contracts (volume)1 119 4661 792 9942 417 0512 771 4953 743 2134 430 710 options (volume)17 08691 04877 47734 992130 450404 934 Retail shares MM (mm PLN)111 270135 35755 01089 61480 64792 671 shares NC (mm PLN)---1437559622 7222 860 contracts (volume)8 380 39810 510 63512 808 56513 869 00813 563 41413 267 126 options (volume)464 992419 888374 855513 577660 6971 059 573 Institutional shares MM (mm PLN)109 685167 852122 713123 355139 781172 859 shares NC (mm PLN)---85499330746 contracts (volume)3 153 7186 330 4198 944 8989 809 6079 920 88110 696 807 options (volume)173 188279 056198 092240 997302 557199 705 Summary – value *turnover calculated for both transaction parties

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