Announcement.

BRITISH AUTOMOTIVE HOLDING SA (49/2018) The Management Board's decision to initiate a review of strategic options

The Management Board of British Automotive Holding S.A. with its registered office in Warsaw [Issuer, Company] informs that on 09/10/2018 the Management Board of the Company, after consulting the Company's Supervisory Board, decided to launch a review of strategic options in the scope of the model and scope of business operations conducted by the Capital Group of the Company.
As part of the strategic options review, the Management Board will examine the future direction of the Issuer's Capital Group's development in the Jaguar Land Rover dealership segment, both within the existing Jaguar Land Rover showrooms and facilities to be launched by the Issuer's Capital Group, in accordance with a plan for the development of the Jaguar Land Rover dealer network in Poland.
An overview of strategic options is also aimed at exploring the possibilities of expanding the development of the Issuer's Capital Group beyond the Jaguar Land Rover dealership segment.
All potential strategic options will be comprehensively considered by the Company, and when analyzing them, the Management Board will act with due respect for the rights and interests of the Company's shareholders.
At the same time, the Management Board informs that no decisions related to the choice of a particular strategic option have been made so far and it is uncertain whether and when such a decision will be made in the future.
The Issuer will disclose to the public information about the further course of the process of reviewing strategic options in accordance with applicable law.

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