Announcement.

SFD SA (3/2019) Correction of the interim report for the fourth quarter of 2018

The management of SFD S.A. ("Company, Issuer"), encloses the correction of the interim report for the fourth quarter of 2018 published in the EIB Communication No. 2/2019 of 14 February 2019. The Issuer's Management Board informs that this correction results from an erroneous presentation of the EBITDA result for 2018, the correct value is higher and amounts to PLN 3,544,299.61.

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    SFD SA
    QUARTERLY REPORT
    FOR THE IV QUARTER OF 201 8


    TABLE OF CONTENTS:
    1. GENERAL INFORMATION
    2. FINANCIAL REPORTS
    3. INFORMATION ABOUT THE PRINCIPLES ACCEPTED IN PREPARING THE REPORT, INCLUDING INFORMATION
    ABOUT CHANGE OF ACCOUNTING POLICIES (POLICIES)
    4. BRINGING THE CHARACTERISTICS OF THE ORIGINAL REALIZATIONS OR FAILURES DURING THE PERIOD OF WHICH
    APPLICABLE TO THE REPORT, ALSO WITH THE DESCRIPTION OF THE MOST IMPORTANT FACTORS AND EVENTS, IN PARTICULAR
    ABOUT UNUSUAL AROUND TERRAIN, AFFECTING THE ACHIEVED RESULTS
    5. POSITION ABOUT THE OPPORTUNITY TO PERFORM PUBLISHED FORECASTS FORECAST
    FOR A SPECIAL YEAR IN THE LIGHT OF RESULTS PRESENTED IN THE QUARTERLY REPORT.
    6. INFORMATION REFERRED TO IN § 10 ITEM 13A OF ANNEX 1 TO THE REGULATIONS OF ASO
    7. INITIATIVES SET FOR THE INTRODUCTION OF INNOVATIVE SOLUTIONS
    IN THE ENTERPRISE
    8. DESCRIPTION OF THE ORGANIZATION OF THE CAPITAL GROUP WITH THE INDICATION OF THE UNITS SUBJECT TO
    CONSOLIDATION
    9. WHEN THE ISSUER CREATES A CAPITAL GROUP AND MAKES NO CONSOLIDATED REPORTS
    FINANCIAL STATEMENTS - INDICATION OF CAUSES OF INCORRECTING SUCH IMPARANCIES
    10. INFORMATION ABOUT THE STRUCTURE OF THE ISSUER'S SHAREHOLDING, WITH INDICATION OF SHAREHOLDERS
    HOLDING THE DATE OF SUBMISSION OF THE REPORT, AT LEAST 5% OF VOTES
    THE CONGREGATION OF NIU
    11. INFORMATION CONCERNING THE NUMBER OF EMPLOYEES EMPLOYED BY THE ISSUER, CALCULATED ON
    FULL ETHANIES



    Quarterly Report for the fourth quarter of 2018
    2




    1. GENERAL INFORMATION

    Company: SFD Spółka Akcyjna
    Head office: Opole
    Address: Głogowska 41, 45 -315 Opole
    Phone: + 48 (77) 549 25 00
    Fax: + 48 (77) 549 25 01
    Website: www.sfdsa.pl
    E-mail: [email protected]

    Management:
    Mateusz Dominik Pazdan - Chairman of the Board
    Bartosz Michał Kogut - Vice President of the Board
    Przemysław Kazimierz Kwiatkowski - Vice President of the Management Board for Finance and Administration

    Core business:
    SFD SA is a continuation of the economic activity conducted earlier
    by the founder of SFD SA Mateusz Pazdan under the name KULTURYSTYKA.PL Mateusz Pazdan.
    The activity was created in the late 90s, the owner noticed a gap in emerging
    online discussion groups. There was no discussion group at that time
    so-called amateur bodybuilding. There was also no place on the Internet where
    active people could talk to each other, exchange their experiences
    and insights. Mr. Mateusz Pazdan, as a computer specialist with a penchant, in 1999
    he started working on the first discussion group in Poland associating active people. Service
    was to be strongly focused on people actively practicing sports.
    In 2000, the first private website of the Lord was created
    Mateusz Pazdan, published at www.kulturystyka.pl and the first author's
    discussion forum at www.sfd.pl. Thanks to the commitment of sympathizers
    iron sport portal www.kulturystyka.pl has quickly become the largest service of this type
    in Poland, and the www.sfd.pl website is a basic compendium of knowledge in the field of all
    type of physical activity. The forum has enabled the exchange of views, discussion, and help of the people from
    more advanced to those who have just started their adventure with sport. Along with
    The need to expand has been constantly increasing in the range of both websites
    technical infrastructure. Investments in servers and links have been made.
    In September 2000, business under the name was established
    bodybuilding.pl Mateusz Pazdan. At the beginning, the scope of activity was limited to sales
    internet services in the field of advertising, mainly nutrient producers. In subsequent years
    activity, due to the dynamically growing market of dietary supplements in Poland
    and the development of online sales, the company has included sales in its offer
    dietary supplements. Since 2002, the sale of dietary supplements has become the main source
    company's revenues.



    Quarterly Report for the fourth quarter of 2018
    3

    At the beginning of 2010, a decision was made to further develop the bodybuilding activity of the company
    by changing the legal form from business to joint stock company and
    introduction of the Company's shares to the NewConnect market. On October 27, 2010
    a joint-stock company was established under the name SFD SA with its registered office in Opole. The company has been
    registered on December 16, 2010. The main shareholder of the company was Mateusz
    Pazdan, who took up a total of 35,000,000 shares, covering them with a contribution rather than a one-to-one contribution
    (in kind) in the form of an enterprise under the name KULTURYSTYKA.PL Mateusz Pazdan
    worth PLN 10.5 million.

    Business model
    The essence of the SFD business model is the distribution at attractive product prices
    the highest quality from a wide range of nutrients and dietary supplements and accessories
    sports. As of the date of the report, SFD has an assortment of around 8,000
    products. The Company's suppliers are over 100 selected producers from the whole
    the world. SFD supplies directly from the distributors as well as direct importers
    these goods. The company supplies also over 1000 wholesale customers and each month
    carries out up to 50,000 retail and wholesale shipments. The company has facilities
    commercial and warehouse area with an area of approximately 45 00m 2 and specialized staff
    employee.

    SFD builds its competitive advantage by providing clients with professional knowledge
    in the field of improving physical culture and sport through own websites - forums
    debatable among others www .sfd.pl, on which users exchange opinions
    on topics that interest them. An important source of revenues is also sales of space
    advertising, as well as various types of e-services carried out through
    www.potreningu.pl being the property of the Company. SFD cooperates with nearly 20 partners
    using advertising services in the Company's offer. The company issues monthly
    tens of millions of ad views and sends about 2 million correspondence
    electronic containing information and advertisement values. In the area of consulting, the Company
    each month, it sells over 2,300 individual training and fitness plans.

    SFD SA operates through its own internet portals, such as:
     www.sfd.pl
     www.po treningingu.pl
     www.kulturystyka.pl
     www.afterworkout.de
     www.fitwomen.pl
     www.gymprovocateur.com
     www.fight24.pl
     www.insomnia.pl
     www.body -factory.pl
     www.bushido24.pl
     www.kochamsilownie.pl
     www.kobietanasilowni.pl
     www.formapo40.pl




    Quarterly Report for the fourth quarter of 2018
    4

    The company's Internet sales platform, located at www.sfd.pl/sklep is
    visited over 4 million times a month for nearly 50,000. unique users.
    SFD does not focus its e-commerce activities exclusively in Poland, it also operates
    expansions to and other European and international markets, with particular emphasis on
    German ego market where it realizes sales through a separate platform - store
    afterworkout.de.
    An important element of the Company's strategy is constantly developing its own line of dietary supplements.
    It has been created based on the experience and knowledge of experts and the opinions of thousands
    users of internet portals owned by the Company.

    The years 2003 - 2010 are the period of dynamic development of related activities
    with an increase of more than ten percent per year.

    In the period from 2010. to this day, the Company is constantly increasing its
    competitive advantage by making a number of organizational changes and introducing new ones
    products and services. Many improvements and modifications have been made on platforms
    e. The optimization of the sales platform www.sfd.pl/sklep ma has been optimized
    to improve the usability of the store and increase the conversion level (understood as
    the ratio of the number of users visiting the website to the actual number of transactions
    sales). The company is constantly and consistently developing one of the largest portal in Poland and for people
    active www.potreningu.pl. Thanks to the synergy of SFD's popularity. PL together with integrated
    an original system of individual paid training plans and
    dietary, the project is constantly gaining more and more recognition of numerous group of supporters.
    Optimization of order fulfillment time was also performed for both retail customers,
    as well as wholesale. Thanks to increasing employment in the warehouse and completed department
    logistic improvements, the company currently performs up to 40,000 shipments per month.

    On November 20, 2014, the Company was honored with the prestigious first place
    in the category "Medium-sized company Opolskie" broadcast by "S krzydła Biznesu" under
    the patron of Dziennik Gazeta Prawna. "Skrzydła Biznesu" is a comprehensive project
    addressed to the SME sector consisting of a prestigious ranking of companies, a series of conferences
    and substantive additions appearing in the entire edition of Gazeta's Journal
    Legal. Thanks to the involvement, support and participation of SFD representatives in many
    The company has established close cooperation with the Polish Association of Bodybuilding, Fitness and
    Powerlifting. In cooperation with the Polish Bodybuilding Association, Fness and Powerlifting
    Siłowego SFD SA was a co-organizer of prestigious bodybuilding competitions, she took
    also educational activities by conducting a series of trainings and workshops for instructors
    personnel allowing, among other things, to obtain Personal Trainer certificates
    International Federation of Bodybuilding and Fitness (IFBB). The company has concluded many important agreements
    commercial. A number of marketing activities have a significant impact
    recognition of the SFD brand. The company actively presents its offer during
    the biggest fair events in Poland and Europe. The company has become its own producer
    brands of supplements, ie "ALLNUTRITION", "SFD Nutrition", "Berserk Labs", "FITWHEY" and
    clothing brand "SFD POWER". The process of changing the model is also permanently carried out
    Company's activity from distribution to production and distribution.
    SFD NUTRITION is the company's first own brand, which already has an established position on
    market due to its many years of experience and consumer confidence. As the second brand was founded a



    Quarterly Report for the fourth quarter of 2018
    5

    Berserk Labs, which is dedicated to supporters of martial arts. Created in 2015
    was the ALLNUTRITION brand, which over two years of existence has become a significant player
    on the market of dietary supplements. Thanks to the development of this diet towards healthy dietetic food
    the brand has significantly expanded the group of recipients with people not only connected with sport and
    bodybuilding but also about consumers taking care of drows and balanced nutrition.
    FITWHEY is a brand that competes on the market with an attractive price. The SFD POWER brand is
    clothes directed to actively exercising people and thanks to systematically going out
    the new collections gained a lot of recognition.

    In 2017, the Company decided to rebuild the SFD.PL site and change its character from
    forum for the portal, whose former foil has become a part. This decision was taken from
    due to the changing market trends, thanks to such a change, the site has gained
    popularity and gained new users.















    Quarterly Report for the fourth quarter of 2018
    6

    2. FINANCIAL REPORTS

    F-financial report for the fourth quarter of 2018 - SFD SA

    Balance in PLN
    31/12/2018 31/12/2017
    I.ACTIVE 35 076 951,82 32 658 651,83
    IA Non-current assets 12 836 475.09 13 800 835,47
    IAI WNiP 6,581 148.51 6 726 260.93
    IAII Tangible fixed assets 5 255 803,45 6,137,014.75
    IAIII Long-term receivables 0.00 0.00
    IAIV Long-term investments 745 921,09 640 181,79
    IAV Długother. flood. międzyokr. 253 602.04 297 378.00
    IB. Current assets 22 240 476.73 18 857 816,36
    IBI Stocks 14 642 250.92 14 328 105.83
    IBII Short-term receivables 6 704 300,91 3 868 502,85
    IBIII Short-term investments 554 820,72 479 921,26
    IBIV Short-term flood. międzyokr. 339 104.18 181 286.42
    II. LIABILITIES 35 076 951,82 32 658 651,83
    II.A Share capital (fund) 11,511,853.76 PLN 11,503,506.64
    II.AI Capital (fund) basis 4 549 091.00 4 549 091.00
    II.A.II Due payments for cap.
    II.A.III Own shares
    II.A.IV Supplementary capital (fund) 7 386 370,40 7 627 805,41
    II.AV. Capital (fund) with current valuation
    II.A.VI Other capital (funds)
    reserve
    II.A.VII Profit (loss) from previous years - 1 353 276.75 -1 043 696,03
    II.A.III. Net profit (loss) 929 669.117070.30.26



    Quarterly Report for the fourth quarter of 2018
    7

    II.A.IX Write-offs from net profit during the year
    rotary
    II B. Minority capital 0.00 0.00
    II C. Negative goodwill 0.00 64 392.85
    II.D. Amounts. And reserves for liabilities 23 565 098,06 21 090 752,34
    II.DI Provisions for liabilities 365 855,60 587 729,56
    II.D.II. Debt. 1 911 805.73 1 189 776.85
    II.D.III. short-term. 20 934 386.95 19 044 101.48
    II.D.IV Rozl. intertemporal 353 449.78 269 144.45


    Profit and loss account in PLN

    Increasingly Cumulative
    01/10/2018 r. 01/10/2017 01.01.2018 01.01.2017
    31/12/2018 31/12/2017 31/12/2011 31/12/2017
    A. Net revenues from sales 32 917 529.38 29 888 120.18 130 867 117.91 130 724 173.13
    AI Net sales revenues
    products and services 14 996 137.19 10,743,876.77 55 115 059,71 40,711 480,40
    A.II Change in the status of products 0.00 0.00 0.00 0.00
    A.IV Net income from equipment goods and
    mat. 17 921 392,19 19 144 243,41 75 752 058,20 90 012 692,73
    B. Department costs operational 32 123 318.05 30 485 788,43 129 003 117.92 129 136 898.26
    BI Depreciation 300 860,54 307 346,54 1 282 001,97 1 125 683,38
    B.II Zuż. mat. And energy 617 998.41 423 408.11 1 880 676.86 1 451 641.15
    B.III Foreign services 2 932 902,60 2 552 507,36 10,547 33 38 9 990 170,77
    B.IV. Taxes and fees 102,656.87 125 559.46 406 606.37 397 112.48
    BV Salaries 2 780 876.40 2 323 104.47 10 799 801,90 8 796 956,24
    B.VI Insurance. Społ. And other benefits 487 312,00 557 144.62 1 907 873.05 1 734 872.04
    B.VII Remaining costs by type 1 202 796,47 1 632 928,84 6 176 562,78 4 945 818.35
    B.VIII Value of the coupling goods and mats. 23 697 930.76 22 563 789,03 96 002 263,61 100 694 643.85
    C. Profit (loss) on sales 794 211.33 -740 507.62 1 863 999.99 1 587 274.87
    D. Remaining operating income 36 618,06 122 258,21 968 027,71 464 020,17
    DI Profit on disposal of nonfin. assets
    fixed 0.00 - 7883.37 779,812,44 16 600.78
    D.II. Subsidies 3 324,40 54 337,21 7 479.90 133 215.87
    D.III. Other revenues of operas 33 293.66 74 704.37 180 735.37 314 203.52
    E. Other operating expenses 137,111.63 394,325,38 840 411.05 951 636.38
    EI Strata from the sale of niefin. assets
    lasting -13.01 0.00 21 811,36 0.00
    E.II. Revaluation of assets
    non-financial 0,00 263 739.97 0.00 263 739.97
    E.III. Other operating costs 137,924,64 -140 095,58 547 918.70 417 215.42



    Quarterly Report for the fourth quarter of 2018
    8

    E.IV. Goodwill of Kulturystica.pl 0.00 270 660.99 270 680,99 270 680,99
    F. Profit (loss) from division Operating 692 917.76 -1 012 574.79 1 991 616.65 1 099 658.66
    G. Financial revenues -13 188.06 21 214,31 724.03 21 214.31
    GI Dividends and shares in profits 0.00 0.00 0.00 0.00
    G.II Interest - 13 193.3 5 967,12 718.74 5 967.12
    G.III. Profit from disposal of investments 0.00 0.00 0.00 0.00
    G.IV Update worth Investment 0.00 0.00 0.00 0.00
    GV Other 5.29 15 247.19 5.29 15 247.19
    H. Financial expenses 182 120.62 71 748,91 904 148.80 686 136.38
    HI Interest 135 409.40 140 119.37 580 497.62 601 057.15
    H.II Loss on disposal of investments 0.00 0.00 0.00 0.00
    H.III. Investment value update 0.00 - 0.00 0.00 0.00
    H.IV Others 46 711,22 -68 369,46 323 651,18 85 079,23
    I. Profit (loss) on the sale of the whole
    or part of the shares of units
    poporządkowanych
    0.00 0.00 0.00 0.00
    J. Profit (loss) from division economic 497 609.08 -1 063 109.39 1 088 191.88 434 736.59
    K. The result of extraordinary events 0.00 0.00 0.00 0.00
    KI Extraordinary gains 0.00 0.00 0.00 0.00
    K.II Extraordinary losses 0.00 0.00 0.00 0.00
    L. Goodwill 0.00 0.00 0.00 0.00
    M. Write-off of negative goodwill -1 839.80 919.90 0.00 1 839.80
    MI Write-off of negative goodwill -
    subsidiary units - 839.80 1 839,80 0.00 1 839,80
    MI Write-off of negative goodwill -
    co-dependent units 0.00 0.00 0.00 0.00
    O. Profit (loss) gross 495 719.28 -1 062 189.49 1 088 191.88 436 576.39
    P. Tax Income 0.00 84 178.00 225 969.77 243 478.00
    Q. Other obligatory
    decrease in profit (increase
    losses)
    -2369.07 -173 727,32 -67 447.00 -177 207.87
    R. Minor gains (losses) 0.00 0.00 0.00 0.00
    S. Profit (loss) net 498 138.34 -972 640,17 929 669.1170 306.26



    Cash flow statement in PLN

    Increasingly Cumulative
    01/10/2018 r 01/10/2017 01.01.2018 01.01.2017
    31/12/2018 31/12/2017 31/12/2017 31/12/2017
    A.Payments of cash with
    section. operating 920 951.89 - 261 820,16 1 484 914.17 1 783 591.83
    I. Profit (loss) net 498 138.31 - 972,603.17 929 669.1170 306.26
    II. Adjustments total 422 813.58 710 820.00 555 245.06 1 413 285.57
    III. Net cash flow from
    section. operating 920 951.89 - 261 820,16 1 484 914.17 1 783 591.83



    Quarterly Report for the fourth quarter of 2018
    9

    B. Cash flow with
    section. investment - 586 845.77 - 683 661.46 - 1 653 167.87 - 836 641.98
    I. Inflows - 107 813.77 8 500.00 22 991.87 31 884,15
    II.Expenditure 479 032,00 692 161.46 1 676 159.74 868 526,13
    III. Cash flow net of department
    Inwestycyjna - 586 845.77 - 683 661.46 - 1 653 167.87 - 836 641.98
    C. Cash flow with
    section. financial - 1 389 703,43 750 575,64 243 045,34 - 674 334,42
    I. Inflows - 339 591,23 446 967,62 1 151 423,82 228 956,72
    II. Expenses 1 050 112.20 - 303 608.02 908 378.48 903 291.14
    III. Cash flow net of department
    financial - 1 389 703,43 750 575,64 243 045,34 - 674 334,42
    D. Cash flows net together - 1 055 597.31 - 194 905.98 74 791.64 272 615.43
    E. Balance sheet change
    cash - 1 055 597.31 - 194 905.98 74 791.64 272 615.43
    F. Cash at the beginning of
    period 1 322 200.79 107.81 480 247.92 207 632,48
    G. Cash at the end
    266 603.48 - 194 798,17 555 039,56 480 247.91


    Statement of changes in equity in PLN
    01/10/2018 -
    31/12/2018
    01/10/2017 -
    December 31, 2017
    Increasingly Cumulative
    01/01/2018 01.01.2017
    December 31, 2012, December 31, 2017
    I. Capital (fund)
    own to start with
    period
    11 013 715.42 12 491 782.20 10 582 184.65 11 133 200.37
    II. Capital (fund)
    own at the end of the period 11 511 853.76 11 883 507.16 11 511 853,76 11 503 506,64
    (after taking into account
    financial result)







    Quarterly Report for the fourth quarter of 2018
    10

    3. INFORMATION ABOUT PRINCIPLES ADOPTED BY
    PREPARING A REPORT, INCLUDING THIS INFORMATION
    ABOUT CHANGES IN POLICIES (POLICIES)
    ACCOUNTING

    This report has been prepared in accordance with § 5 para. 4.1 - 4.2 and 5.1 - 5.2 of Appendix 3
    to the Alternative Trading System Regulations "Current and periodic information
    transferred in an alternative trading system on the NewConnect market. "

    The quarterly financial report presents financial data for the period from October 1
    201 8 to 3 December 1, 201 8. The data for the period from 1 is presented as comparable data
    October 201 7 to December 31, 201 7.

    Quarterly financial statements have not been audited by an entity authorized to audit
    financial statements. The company did not change the applied accounting principles (policy)
    in relation to the rules in force in 201 7.

    Quarterly condensed financial statements being an element of this report
    periodic has been prepared in accordance with the requirements of the Act of 29 September 1994
    accounting year (as amended).

    The report was prepared with the assumption of continuing business operations
    by SFD SA in not significantly reduced scope for at least 12 consecutive months and
    longer, and there are no circumstances indicating the risk of continuing operations.




    Quarterly Report for the fourth quarter of 2018
    11





    4. BRIEF THE CHARACTERISTICS OF ESTABLISHMENTS
    EXERCISES OR FAILURES DURING THE PERIOD,
    WHICH REQUEST REQUEST, ALSO WITH DESCRIPTION
    THE MOST IMPORTANT FACTORS AND EVENTS,
    IN PARTICULAR UNIQUE
    CHARACTERS, AFFECTING
    ACHIEVED RESULTS

    In the period from 01. 10.01018 to 3 1.12.0101, SFD SA realized sales revenues
    in the amount of 32,917. PLN 529.38, which is nearly 110% of the revenues achieved
    in the same period of 2017, when it amounted to 29.888 PLN 120.18.
    EBITDA (calculated as the value of operating profit plus depreciation plus
    amortization of goodwill) for the period from January to December 2018
    amounted to PLN 3,544,299.61.
    Zar ząd SFD SA informs that the period from 01.01.28 to 03.12.2280 has been completed
    net profit in the amount of PLN 929. PLN 669.11.




    5,000,000.00
    10,000,000.00
    15,000,000.00
    20,000,000.00
    25,000,000.00
    30,000,000.00
    35,000,000.00
    40,000,000.00
    Revenues on a quarterly basis



    Quarterly Report for the fourth quarter of 2018
    12

    In the period of the fourth quarter of 2018, the Company introduced retail sales and
    wholesale of 13 new private label products, among others Wild Sweet Jelly, Wild Coconut
    Spray and Citrulline under the SFD and Redox Hardcore brands, Sleep Pro, Fit Fruit Jam, Choco Plum,
    Energy Schock Shot and a series of spray oils under the brand name ALLNUTRITION.
    The National Distribution Department started cooperation with Żabka's chain of kleps, introducing them to them
    offers own brand products ALLNUTRITION: MGB6 Shock, Energy Shock, BCAA Shock and
    L-Carni Shock.
    The fourth quarter also closes the year with significant investments, another one has been opened
    own store in Katowice and 6 franchise stores in the cities of: Oświęcim, Piła,
    Warsaw, Gostyń, Bydgoszcz, Kalisz.
    The Marketing and E-commerce division has completed negotiations on the renewal of the sponsorship agreement with
    Polish Association of Bodybuilding, Fitness and Powerlifting, which will be in force by
    another three years. Thanks to her, the company has become the main sponsor and partner for the relationship, which is
    publicized at events organized by him and in the media.
    The IT team carried out intensive programming work related to the uruc of new homeworld
    online store with clothes for exercises for women - Gymprovocateur.com, opening and
    the sale started at the beginning of 2019.



    5. POSITION WITH THE POSSIBILITY
    COMPLETING THE PUBLISHED FORECAST
    RESULTS FOR A GIVEN YEAR IN THE LIGHT OF RESULTS
    REPRESENTED IN THE REPORT
    QUARTERLY

    The company did not publish financial results for 201 8.


    6. INFORMATION REFERRED TO IN § 10 PKT 13A
    ANNEX 1 TO THE REGULATIONS OF ASO
    Not applicable.



    Quarterly Report for the fourth quarter of 2018
    13


    7. INITIATIVES INITIATED TO INTRODUCE
    INNOVATIVE SOLUTIONS W
    ENTERPRISE

    They did not occur during the period covered by the report.

    8. DESCRIPTION OF THE ORGANIZATION OF THE CAPITAL GROUP
    INDICATION OF UNITS SUBJECT TO
    CONSOLIDATION

    The company does not create a capital group.

    On October 1, 2018, the District Court in Opole VIII Economic Department
    The National Court Register entered the merger of the Issuer with the company BLACK MASTER
    Sp. z oo, BERSERK LABS Sp. z oo and BALANCED NUTRITION Sp. z o. o. Connection
    took place by way of a take-over, in the mode specified in art. 492 § 1 point 1 of the CCC, i.e. through
    transfer to the Issuer of all assets of BLACK MASTER Sp. z o. o., BERSERK
    LABS Sp. z oo and BALANCED NUTRITION Sp. z o. o. According to art. 515 § 1 of the Commercial Companies Code
    due to the fact that the Acquiring Company held 100% of shares in BLACK MASTER
    Sp. z oo, BERSERK LABS Sp. z oo and BALANC ED NUTRITION Sp. z oo, the merger took place
    without increasing the share capital, as well as without changing the Company's Articles of Association
    Acquirer.




    Quarterly Report for the fourth quarter of 2018
    14

    9. WHEN THE ISSUER CREATES A GROUP
    CAPITAL AND DOES NOT DONE
    CONSOLIDATED REPORTS
    FINANCIAL - CLAIMS
    INCONTACTING SUCH IMPAIRMENTS

    The company does not create a capital group.

    10.
    INFORMATION ABOUT THE SHAREHOLDING STRUCTURE
    ISSUER, WITH INDICATION OF SHAREHOLDERS
    HOLDING THE DAY OF TRANSFER
    REPORT, AT LEAST 5% OF VOTES
    MEETING

    Shareholders of the Company as at the date of publication of the quarterly report, ie February 14, 201, 9.



    Shareholder Number of shares
    (Pcs.)
    Participation
    in capital
    company (%)
    number of votes
    Participation
    in general
    the number of votes
    (%)
    Matthew
    Dominik
    Pazdan
    33. 581.654 73.82% 51 .081.65 4 81.09%
    daniel
    Walendziak 3 630 513 7.98% 3 630 513 5.76%
    Other 8 278 74 3 18, 20% 8 278 74 3 13, 15%
    Sum 45 490 910 100.00% 62 990 910 100.00%



    Quarterly Report for the fourth quarter of 2018
    15

    11. INFORMATION ABOUT THE NUMBER OF PEOPLE
    EMPLOYED BY THE ISSUER,
    IN FULL PERFORMANCE CALCULATIONS

    The number of persons employed by SFD SA as at February 14, 201 9, calculated
    full time is 161.


    Content was translated automatically.

Source: company website, investor relations, current and periodic reports.

ALL COMPANY ANNOUNCMENTS
Company information
Company name:SFD SA
ISIN:PLSFD0000013
NIP:7543022222
Adress: ul. Głogowska 23c 45-315 Opole
Phone:+48 77 4030860
website:www.sfdsa.pl

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