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In 2013, INTERSPORT Poland SA celebrated 25th anniversary of the establishment. Once again, our experience in running a business in the sports industry has helped us in achieving the desired goals.

For over 20 years, our key category in sales had been selling of ski equipment. However, the weather so typical for the winter season has recently changed dramatically forcing the implementation of key
changes in the retail sector. We focused on the development of all year round groups of products to provide best possible protection against the climate whims. In 2013 thanks to that decision, we
recorded double-digit sales growth in all-year-round goods. It was not easy to implement such significant changes in our business. We restructured our showrooms to create permanent dedicated
areas for football, outdoor, running and fitness. We invested in selection and training of salespeople who will provide expert advice to our customers and help them in the optimal selection of best
possible equipment and clothing. We have also invested in the development of services such as dynamic foot testing on a treadmill, foot measurements or the choice of shoe insoles.

In 2013, we focused on optimizing the sales area. We have reduced the sales area in three stores, we have negotiated a reduction of rent for five locations and lowered utility costs. The effects of these
actions will be clearly visible in 2014.In 2013, INTERSPORT Poland finalised the optimization process of external financing by changing the tenor of financing or converting some of the current liabilities into long-term liabilities.

The financial results. Excluding the one-off event in 2012, or an additional sales of licensed UEFA EURO, not in our stores, in 2013 the Company achieved a comparable turnover as in 2012. Total
revenues from sales of goods and services amounted to 219,891,000 PLN or 5.6% less than in 2012. In 2013, EBITDA amounted to 6.534.000 PLN, EBIT 9,000 PLN, a net loss of 1.873.000 PLN. Such result was mainly caused by the lack of winter weather in December.

We look forward 2014 with confidence. Changes that were made in 2013 such as the already mentioned cost optimization and changes in sales within the groups of goods combined with the
highly visible development of trend in physical activity of Poles should result in a solid financial result in 2014.