Appeninn Vagyonkezelo : KÖZGYŰLÉSI HATÁROZATOK GENERAL MEETING RESOLUTIONS

GENERAL MEETING RESOLUTIONS

Appeninn Vagyonkezelő Holding Nyilvánosan Működő Részvénytársaság (in English: Appeninn Asset Management Holding Public Limited Company (registered seat: 1118 Budapest, Kelenhegyi út 43 B. ép. 5. em. 1. a.; company registration number: 01-10-046538) (the "Company") concluded the herein resolution upon the extraordinary general meeting (the "General Meeting") held by means of personal presence of the shareholders as of 30 September 2020 as follows.

General Meeting Resolution No. 1/2020 (09.30.)

The General Meeting shall decide to have its resolutions made by open voting upon holding up the ballot paper prepared by the Board of Directors.

The General Meeting shall elect dr. Szabó Nóra to be the Chairperson of the General Meeting.

The General Meeting has adopted the resolution unanimously. The resolution has been adopted with 24 042 684 pieces of yes votes, that is 100 %; 0 pieces of no votes, that is 0 %; 0 pieces of abstain votes, that is 0%. (With regard to the shares representing valid casted votes, that is to say the total number of hereof valid casted votes is: 24 042 684 pieces, that is 50,75 % compared to the Share Capital).

General Meeting Resolution No. 2/2019 (09.30.)

The General Meeting shall elect dr. Weil-Mayer Krisztina to be the recorder of minutes, and the witness to the minutes is to be OTP Tőzsdén Kereskedett BUX Indexkövető Alap (represented by: Gajdács Attila), the shareholder of the Company, and the tellers are going to be Balogh Erika and Urszuj Ágnes.

The General Meeting has adopted the resolution unanimously. The resolution has been adopted with 24 031 041 pieces of yes votes, that is 100 %; 0 pieces of no votes, that is 0 %; 0 pieces of abstain votes, that is 0%. (With regard to the shares representing valid casted votes, that is to say the total number of hereof valid casted votes is: 24 042 684 pieces, that is 50,73 % compared to the Share Capital).

General Meeting Resolution No. 3/2020 (09.30.)

The General Meeting, upon this resolution, shall hereby confirm to have understood and aknowledged the general meeting resolution no. 2/2020 (IV.17.) issued on behalf of the general meeting by the Board of Directors of the Company, and the management report on business performance, development and state of the Company included in the individual (non-consolidated) annual report for the year of 2019 and attached to the consolidated annual report for the year of 2019 in relation to the Company.

The General Meeting has adopted the resolution unanimously. The resolution has been adopted with 24 042 684 pieces of yes votes, that is 100 %; 0 pieces of no votes, that is 0 %; 0 pieces of abstain votes, that is 0%. (With regard to the shares representing valid casted votes, that is to say the total number of hereof valid casted votes is: 24 042 684 pieces, that is 50,75 % compared to the Share Capital).

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General Meeting Resolution No. 4/2020 (09.30.)

The Board of Directors, upon this resolution, shall hereby confirm the board of directors resolution no. 3/2020 (IV.17.) issued on behalf of the general meeting by the Board of Directors of the Company and shall hereby understand and acknowledge drafting the report on the activities of the Audit Committee of the Company for the year of 17 compiled by in relation to the individual (non-consolidated) annual report for the year of 2019 and to the consolidated annual report for the year of 2019 of the Company by the Audit Committee.

The General Meeting has adopted the resolution unanimously. The resolution has been adopted with 24 042 684 pieces of yes votes, that is 100 %; 0 pieces of no votes, that is 0 %; 0 pieces of abstain votes, that is 0%. (With regard to the shares representing valid casted votes, that is to say the total number of hereof valid casted votes is: 24 042 684 pieces, that is 50,75 % compared to the Share Capital).

General Meeting Resolution No. 5/2020 (09.30.)

The General Meeting, upon this resolution, shall confirm to have understood and acknowledges the board of directors resolution no. 4/2020 (IV.17.) issued on behalf of the general meeting by the Board of Directors of the Company, and the reports on individual (non-consolidated) annual report for the year of 2019 of the Company and the consolidated annual report for the year of 2019 of the Company compiled by the Auditor.

The General Meeting has adopted the resolution unanimously. The resolution has been adopted with 24 042 684 pieces of yes votes, that is 100 %; 0 pieces of no votes, that is 0 %; 0 pieces of abstain votes, that is 0%. (With regard to the shares representing valid casted votes, that is to say the total number of hereof valid casted votes is: 24 042 684 pieces, that is 50,75 % compared to the Share Capital).

General Meeting Resolution No. 6/2020 (09.30.)

The General Meeting, upon this resolution, shall confirm the board of directors resolution no. 5/2020 (IV.17.) issued on behalf of the general meeting by the Board of Directors of the Company and shall adopt individual (not-consolidated) annual report compiled in line with IFRS for the year of 2019 with the main data as follows:

•	41,340,292,-HUF in thousands	assets/capital and resources in total;
•	16,578,898,-HUF in thousands	own equity;
•	1,661,208,-HUF in thousands	total comprehensive income after taxes.

The Board of Directors, moreover, shall adopt the consolidated annual report compiled in line with IFRS for the year of 2019 with the included main data as follows:

•	190,545,595,-EUR	assets/capital and resources in total;
•	73,806,313,-EUR	own equity;
•	10,215,198,-EUR	total comprehensive income after taxes.

The General Meeting has adopted the resolution unanimously. The resolution has been adopted with 24 042 684 pieces of yes votes, that is 100 %; 0 pieces of no votes, that is 0 %; 0 pieces of abstain votes, that is 0%. (With regard to the shares representing valid casted votes, that is to say

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the total number of hereof valid casted votes is: 24 042 684 pieces, that is 50,75 % compared to the Share Capital).

General Meeting Resolution No. 7/2020 (09.30.)

The General Meeting, upon this resolution, shall confirm the board of directors resolution no. 6/2020 (IV.17.) issued on behalf of the general meeting by the Board of Directors of the Company.

The General Meeting has adopted the resolution unanimously. The resolution has been adopted with 24 042 684 pieces of yes votes, that is 100 %; 0 pieces of no votes, that is 0 %; 0 pieces of abstain votes, that is 0%. (With regard to the shares representing valid casted votes, that is to say the total number of hereof valid casted votes is: 24 042 684 pieces, that is 50,75 % compared to the Share Capital).

General Meeting Resolution No. 8/2020 (09.30.)

The General Meeting, upon this resolution, shall confirm the board of directors resolution no. 7/2020 (IV.17.) issued on behalf of the general meeting by the Board of Directors of the Company and adopt the Corporate Governance Report introducing the governance practice at the Company.

The General Meeting has adopted the resolution unanimously. The resolution has been adopted with 24 042 684 pieces of yes votes, that is 100 %; 0 pieces of no votes, that is 0 %; 0 pieces of abstain votes, that is 0%. (With regard to the shares representing valid casted votes, that is to say the total number of hereof valid casted votes is: 24 042 684 pieces, that is 50,75 % compared to the Share Capital).

General Meeting Resolution No. 9/2020 (09.30.)

The General Meeting, upon this resolution, shall hereby conclude that the members of the Board of Directors performed their activities in 2019 upon keeping the primary interest of the Company in mind, and, consequently, issue the hold-harmless warrant stating the compliance in relation to the management activities with respect to the year of 2019 for the members of the Board of Directors.

The General Meeting has adopted the resolution unanimously. The resolution has been adopted with 24 042 684 pieces of yes votes, that is 100 %; 0 pieces of no votes, that is 0 %; 0 pieces of abstain votes, that is 0%. (With regard to the shares representing valid casted votes, that is to say the total number of hereof valid casted votes is: 24 042 684 pieces, that is 50,75 % compared to the Share Capital).

General Meeting Resolution No. 10/2020 (09.30.)

The General Meeting, upon this resolution, understood, commented and acknowledged the Remuneration Policy of the Company.

The General Meeting has adopted the resolution unanimously. The resolution has been adopted with 24 042 684 pieces of yes votes, that is 100 %; 0 pieces of no votes, that is 0 %; 0 pieces of abstain votes, that is 0%. (With regard to the shares representing valid casted votes, that is to say the total number of hereof valid casted votes is: 24 042 684 pieces, that is 50,75 % compared to the Share Capital).

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General Meeting Resolution No. 11/2020 (09.30.)

The General Meeting shall hereby define the remuneration of the executive officers of the Company as follows:

Chairperson of the Board of Directors: gross 200,000,-HUF per month

Member of the Board of Directors: gross 200,000,-HUF per month

Renumeration of the members of the Audit Committee: The hereof is to be included in the Board of Directors fee.

The said honoraria is due by the 10th day of each month.

The General Meeting has adopted the resolution unanimously. The resolution has been adopted with 24 042 684 pieces of yes votes, that is 100 %; 0 pieces of no votes, that is 0 %; 0 pieces of abstain votes, that is 0%. (With regard to the shares representing valid casted votes, that is to say the total number of hereof valid casted votes is: 24 042 684 pieces, that is 50,75 % compared to the Share Capital).

General Meeting Resolution No. 12/2020 (09.30.)

The General Meeting, upon this resolution, shall hereby make the decision on the appointment of the members of the Board of Directors for the indefinite time, and, at the same time, the General Meeting shall hereby amend the effective text of the Articles of Association of the Compnay upon the closure of the extraordinary general meeting as of today, with that, the strikethrough text shall be deleted while the text indicated in bold, italic and underlined shall be inserted into the text of the Articles of Association as follows:

In respect of Point 15 of Chapter VII on the Board of Directors, the Articles of Association shall be amended as follows:

"In the event of a partial replacement of the members from the Board of Directors or the addition of new members to the Board of Directors, the term of office of the new members shall run until the date of the stated original term of the Board of Directors."

"The General Meeting shall hereby appoint the members of the Board of Directors for an indefinite time".

The General Meeting has adopted the resolution. The resolution has been adopted with 24 042 683 pieces of yes votes, that is 100 %; 0 pieces of no votes, that is 0 %; 0 pieces of abstain votes, that is 0%. One shareholder did not cast a valid vote. (With regard to the shares representing valid casted votes, that is to say the total number of hereof valid casted votes is: 24 042 683 pieces, that is 50,75 % compared to the Share Capital).

General Meeting Resolution No. 13/2020 (09.30.)

The General Meeting shall hereby acknowledge that dr. Szabó Nóra (address: 2045 Törökbálint, Wesselényi u. 10.) resigned from the post performed as a member of the Board of Directors of the Company as of the effective day of the closure of today's extraordinary general meeting.

The General Meeting has adopted the resolution. The resolution has been adopted with 24 042 683 pieces of yes votes, that is 100 %; 0 pieces of no votes, that is 0 %; 0 pieces of abstain votes, that is 0%. One shareholder did not cast a valid vote. (With regard to the shares representing valid

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