S C Chimcomplex S A : An increase of 24.5% in June in the salaries of the company's employees

To:

The FINANCIAL SUPERVISORY AUTHORITY

BUCHAREST STOCK EXCHANGE S.A.

Current report

according to the provisions of Regulation no. 5/2018 on issuers and market operations and

of Law no. 24/2017 on issuers of financial instruments and market operations

Reporting date: May 25, 2022

Company name: Chimcomplex S.A. Borzeşti

Address: Strada Industriilor nr. 3, Onești, Bacău County

Fax no.: 0234.302102

Phone: [phone]

Unique registration code: RO960322

Registration number with the Trade Register: J04/493/1991

LEI Code (Legal Entity Identifier): 549300FCIHJZOG56WD36

Subscribed and paid-up share capital: 304.907.851 Lei

The market on which the securities are traded: Bucharest Stock Exchange, Main, Standard, symbol CRC

Event to be reported:

Chimcomplex will increase employees' salaries by 24.5% starting with June

and continues to be a competitive player on the labor market

Bucharest, May 25, 2022. Chimcomplex, the largest chemical plant manufacturer of polyols in Eastern Europe, announces a significant increase in the salaries of its employees starting with June 2022.

The company approved the largest salary increase so far, so that the average gross monthly income (with meal vouchers included) increases from 5,750 to 7,150 lei, that is, by 24.5%.

If the incomes of managers and the first 30 specialists are included in this average, then the average salary per company increases from 7,200 to 8,980 lei.

In 2021, extra to the net additional bonus of 3,000 lei received by each employee, was granted cumulated salary increases of 5.5%, and starting with June 2022, an increase of 13% will be applied, i.e. by 700 lei. This is at a time when private employers maintain their budgets of salary increases of 5 to 7% for 2022, and the largest salary increases in the oil, chemistry and energy

industries do not exceed 10%. In the first quarter of 2022, the company also granted indexations of 2% which ultimately leads to real growth of 15%.

Revenue growth is also considered in 2023, so starting with the 2nd semester, a minimum of 50% of the inflation rate will be added quarterly or indexed by 100% of the inflation rate if the company's performance indicators are reached.

"Through the financial proposal we have agreed, we aim to increase the company's performance by increasing and encouraging the performance of each employee. We trust the great capacity of this company and its approximately 2500 talents and we want to carry out together large-scale projects that will bring us personal and professional satisfaction. I thank my colleagues from Chimcomplex for everything they do in the company!" said Mr. Ștefan Vuza, Chairman of the Board of Directors of Chimcomplex.

"If the company achieves the same performances as in 2021 and in the years to come, the management will again award the employees with bonuses above those provided in the CLA, as it happened in 2021" added Stefan Vuza.

In the new CLA, Chimcomplex opted for bonuses, benefits and cumulative bonuses worth 4,220 lei/year/employee.

They will receive a cumulative value of 2,000 lei: holiday vouchers and benefits, at their choice, through the social-cultural actions fund (having the choice to opt for medical insurance, transport expenses, etc.)

Annually, each employee is granted net premiums/gifts totaling 2,220 lei on the occasion of holidays and various events in the organization.

Also, the company continues to give cash gifts for special events, such as March 8 or June 1, when each employee with children up to 18 years old is given a cash gift worth 150 lei.

At the same time, the company approved in advance the value increase by 50% of the meal vouchers from 20 to 30 lei/day. Chimcomplex awaits the adoption, starting on June 1, 2022, of the draft law for increasing the value of meal vouchers to 30 lei. Now, the total monthly value of the meal vouchers granted monthly (for 21 working days) is 420 lei. If it is increased to 30 lei, the monthly value would be 630 lei/employee.

In addition, increases in the amounts granted to employees to support social expenses have also been envisaged, and the number of days of leave to be granted will be increasing, up to a maximum of 25 days per year.

Since June, the company has also proposed two innovative tools to motivate and reward performance employees:

• Bonus with a variable structure at the choice of the employee, depending on their interests. Thus, out of the total premium of 2,000 lei gross/year, the employees will be able to choose how they spend this monthly money. They could choose between holiday vouchers, medical insurance, transport expenses, cultural tickets, telecommunications subscriptions, tourism services, sports and relaxation subscriptions, etc. (a total of 7 categories of payments and 500 advantages from discounts).
  Chimcomplex encourages each employee to decide what is the priority for themselves and no longer wants a leveling of rights.

• Loyalty bonus of at least 10% of the individual annual salary and up to 120%, for increasing seniority from year to year, starting from 2022. The bonus will consist in offering free stocks granted to employees, especially those who have performance indicators but also those in the second echelon.
  The New CLA will be valid for 24 months and will take effect from the date of its registration with the Labour Office.

About Chimcomplex

Chimcomplex is the leading manufacturer and supplier of vital chemicals in the region, specializing in polyols, Chlor-alkali and Oxo-Alcohols. It is a strategic company for the Romanian economy, the largest chemical plant with 2 industrial platforms in Onești and Râmnicu Vâlcea. Chimcomplex is a chemical company with a tradition of almost 70 years, which develops quality products for a better life and a sustainable future. In 2021 Chimcomplex registered a turnover of 2.244 billion lei.

PR and Communications Director

Georgiana Stavarache