Appeninn Nyrt. held its Extraordinary General Meeting, at which the composition of the company's Board of Directors and Audit Committee was almost completely restructured, and the decisions taken by the Board of Directors in April to comply with legal obligations were confirmed by the General Meeting. Following proposals from major shareholders, several professionals with extensive experience were elected as senior executives and, after the meeting, the Board of Directors elected Dr. Tamás Bihari as CEO of the company.

New members were elected to the Board of Directors and Audit Committee of Appeninn Plc at an Extraordinary General Meeting. Prior to the General Meeting, two of the company's shareholders with a stake of over 5%, Avellino Holding Zrt., a company owned by the Indotek Group, and Zinventive Zrt., proposed the election of several professionals with significant professional experience. In accordance with the decisions of the General Meeting, Dr. Tamás Bihari, Zsolt Kertai, Róbertet István Nemes and Dr. Zoltán Hegelsberger were elected as members of the Board of Directors. The latter three were also elected as members of the Audit Committee of the company. Dr Nóra Szabó, Legal Director, also remained a member of the Board of Directors.

At the meeting of the Board of Directors following the General Meeting, Dr. Tamás Bihari was also elected to the position of CEO of the listed company. He said that he sees Appenin Nyrt. as a company with very solid foundations, and together with the other members of the Board of Directors he will work to grow the company into one of the most important Hungarian real estate companies in the coming years, both in terms of market weight and professionalism.

With the arrival of newly elected officers, a restructured management team can effectively guide the company's growth plans; members include legal, financial and real estate professionals.

In addition, the General Meeting confirmed the decisions taken by the Board of Directors in April on matters that cannot be postponed in order to comply with legal obligations: the General Meeting voted to approve the financial statements for the previous year and approved the authorisation of the Board of Directors to purchase treasury shares.

In addition, following the approval of the General Assembly, the Articles of Association of the company were amended with an addition that now allows for the organisation of conference meetings and written votes in special situations. Thus, in the future, in exceptional cases, such as the emergency caused by the coronavirus epidemic in the spring, the general meeting of Appeninn Plc will be able to be held without the presence of a proxy.

Careers of board and audit committee members:

Dr. Nóra Szabó In 1997 he graduated from the College of Public Administration with a degree in administrative management, then in 2005 he graduated from the Faculty of Law of Eötvös Lóránd University.From 2006 to 2010 he worked in a law firm, after which he worked as a sole practitioner. From 2017 to 2018, he was Chairman of the Board of Directors of MFB Invest Zrt., and from 2018 to 2019, he was a member of the Supervisory Board of MFB Invest Zrt.

Dr. Tamás Bihari graduated from the Faculty of Law and Political Sciences of the University of Pécs. In recent years, he has held legal management positions, especially in the IT industry. In the course of his work, he has gained significant experience in the fields of acquisitions, public administration, grant projects and related legal and financing issues. Previously, he worked at the Hungarian headquarters of Novell, an international multinational company, before joining 4iG Plc. in 2019 as a legal director, also active in the industry. At the company, he was involved, among other things, in the regulatory background for the development of the internal organisation and in supporting acquisitions in the IT area. He is a lecturer at the Budapest Metropolitan University. Speaks English, German and French.

Zsolt Kertai After graduating from the College of Commerce, Hospitality and Tourism in 1997 as an economist, he started his career at Plaza Centers in 1999, where he was responsible for the operation and leasing of Csepel and Duna Plaza as Csepel Plaza Director until 2004 and Regional Director until 2006. From 2006, when French Klepierre acquired the Hungarian interests of Plaza Centers, he continued his career as a development director, including the Corvin Plaza project. From 2012, as commercial director, he managed the leasing of 16 shopping centres in Hungary, and from 2013 he was appointed managing director of the company, a position he held until 2019.

Róbert István Nemes graduated from the Faculty of Economics and Business Administration of the Budapest University of Economics and Public Administration. In 2014, he obtained his ACCA diploma as a registered accountant. He has almost 20 years of experience in the construction industry, both in the field of construction and complex real estate development. After his university studies, he held middle and senior management positions in several major Hungarian construction companies and since 2007 he has been coordinating the financial processes of the Bayer Group as its CFO. He speaks English and German.

Dr. Zoltán Hegelsberger graduated from the Faculty of Law and Political Sciences of Eötvös Loránd University, and subsequently obtained a postgraduate degree in European Law at the ELTE Institute of Continuing Legal Education. In addition to his legal practice, he has held executive and supervisory board positions in several leading Hungarian companies. In the past years, as the legal head of the Bayer Group, he provided legal support to the group's large-scale construction technology investments and real estate development projects.