Resolution of the Extraordinary General Meeting of 11 bit studios S.A. on February 9, 2023

The Extraordinary General Meeting of 11 bit studios S.A., held on February 9, 2023, focused on strengthening corporate governance and refining the company’s statutory framework to align with evolving operational needs. Shareholders representing 51.32% of the total share capital participated in the session, approving a series of resolutions aimed at clarifying the roles, responsibilities, and compensation structures of the company’s leadership. These measures primarily targeted the Polish-based developer’s internal regulations, ensuring more robust oversight and administrative clarity for the 2023 fiscal year and beyond.

Key statutory amendments refined the classification of business activities and formalized the operational protocols of the Supervisory Board. Notable changes include the mandate for Management Board approval when acquiring stakes in external entities and the authorization for the Supervisory Board to engage external advisors at the company’s expense. Furthermore, the meeting established a standardized method for calculating the terms of office for board members based on full financial years, ensuring greater transparency in leadership transitions.

Financial adjustments were also a central component of the proceedings, specifically regarding the remuneration of the Supervisory Board. New monthly gross compensation rates were set at 9,500 PLN for the Chairperson, 8,300 PLN for the Vice-Chairperson, and 6,000 PLN for other members, with these changes applied retroactively to January 1, 2023. While the majority of resolutions passed with unanimous support, certain amendments regarding board protocols saw minor dissent, though all proposals ultimately secured the necessary majority to take effect. These actions collectively enhance the institutional stability of 11 bit studios as it manages its portfolio and external investments.