CITY SERVICE SE - Regarding Partial Sale of Business in Spain

POLISH FINANCIAL SUPERVISION AUTHORITY

UNI - EN REPORT No 12 / 2021

Date of issue: 2021-11-30

Short name of the issuer

CITY SERVICE SE

Subject

Regarding Partial Sale of Business in Spain

Official market - legal basis

Unofficial market - legal basis

Contents of the report:

To this day, City Service SE (further - the Company) subsidiaries in Spain has been operating in the field of apartment building administration and insurance brokerage businesses. Company's management is looking forward to develop business in other forms, namely, PortalPRO, a transparent platform where customers can order various services. The operation of the platform is based on the sharing economy. Using the platform, service providers will be able to offer their services related to housing and its maintenance and repair. As a result of developing PortalPRO business and by reason of apartment building administration business is not meeting the profitability criterias requested by the Company's management, Company decided to withdraw from the apartment building administration business in Spain. Considering the above, on November 30, 2021, the Company through its Spanish subsidiaries has signed business transfer agreement on sale of apartment building administration business and partial sale of insurance brokerage business in Spain. The buyer of sold businesses was a Spanish company, acting in apartment building administration and insurance brokerage sectors.

Annexes

File Description

CITY SERVICE SE

(fullname of the issuer)

CITY SERVICE SE Usługi inne (uin)

(short name of the issuer) (sector according to clasification of the WSE in Warsow)

10117 Tallin

(post code) (city)

Narva mnt. 5

(street) (number)

[phone] [phone]

(phone number) (fax)

(e-mail) (web site)

LT100009542110

(NIP) (REGON)

SIGNATURE OF PERSONS REPRESENTING THE COMPANY

Date Name Position / Function Signature

2021-11-30 Artūras Gudelis Chairman of the Management Board