Asseco Poland Solutions for Demanding Business

www.asseco.pl/en Agenda

. General Information

. Financial Highlights

. Acquisition of Formula Systems

. Business Outlook

. Appendix

1 General Information

Our mission is to build the trustworthy and profitable global IT company providing our customers with high quality software and services

Company profile:

• The largest Polish IT company listed on WSE

• Among the TOP10 software producers in Europe

• Companies from Asseco Group are listed on WSE, TASE and NASDAQ

• Focused on selling proprietary software and services

• Strong financials with great track record

• 2010 net profit of PLN 415 m (USD 137 m)

• Positive cash position

• 10%-40% Dividend payout

2 Market Data and Stock Performance

2011/03/21 %∆ YE *’10 Asseco shares traded with 16% discount to consensus target price*** 75 52.25 53.00 Share price -1.4% $17.63 $17.88

65 PE 8.89 -8.7% 9.69 16% Dividend yield** 3.4% 13.3% 3.0%

7,057 9,532 Av. daily trade [tho] -26.0% 55 $2,324 $3,139 Dividend policy 10%-40% Shares outstanding 77.565.530 45 2009-12-31 2010-03-31 2010-06-30 2010-09-30 2010-12-31

Asseco Av.

Shareholding structure Codes:

Adam Góral /CEO/ 10.4% Bloomberg code ACP PW Reuters code ACPP.WA AVIVA OFE 10.1% Warsaw Stock Exchange ACP ING OFE 7.2% Publications:

PZU OFE 5.5% Consolidated for the Q1 2011 13 May 2011 Standalone and Consolidated Free Float 66.8% for the HY 2011 26 August 2011

* - Year-end closing price; ** - Calculated for 2009 EPS = 5.47; DPS = 1.47 2010 EPS = 5.88; DPS = 1.80; *** - 2010 Asseco market share prices, figures in PLN. Target prices from 12 Brockerage Houses; Discount calculated as yearly average consensus /66.56/ to yearly average share price /55.70/

3 Consistent Growth and Dividend Policy

Net profit and dividend* per share [PLN / USD] 5.88 6 5.43 5.47 Consistent growth of dividend and net $1.94 profit on both nominal and ‚per share’ $2.25 $1.94 basis. 4 3.48 Asseco dividend policy assumes paying

$1.26 out 10% to 40% of net profit as a dividend. 1.80 2 1.47 Management recommended 1.8 PLN 1.03 $0.59 0.55 $0.50 per share for the dividend for the year $0.43 $0.20 EPS DPS 2010. 0 2007 2008 2009 2010F

Compound, three-year, annual growth Nominal net profit and dividend [mln PLN rate (CAGR) of net profit equals 450,0 / mln USD] 415.1 373.4 31.1%. and compound annual growth $137.0 321.6 $126.2 rate (CAGR) on dividend paid out is 300,0 $133.5 expected (on management

recommendations) to amounts at 60%. 160.9 The three-year, compound growth rate of 150,0 $58.2 139.6 106.0 $46.0 net profit and dividend calculated on 70.3 $35.8 per share basis equals 19.1% and 32.8 $29.2 $11.9 Dividend Net Profit 48.5% respectively. 0,0 2007 2008 2009 2010F Figures in PLN millions & US Dollars millions; FX translations for: 2010 0.3293; 2009 0.3379; 2008 0.3678; 2007 0.3614

4 European Presence

Truffle 100 ranked Asseco 8th European software vendor in 2010

Shareholding: 46.47% Shareholding: 55.00%

Shareholding: 85.00% Shareholding: 40.07%

Shareholding: 51.96% Shareholding: 100.00%

5 Worldwide Perspectives

In November 2010 Asseco Poland acquired 50.19% stake in Formula Systems holding.

Formula Systems operates in the most innovative countries:

Israel, USA, Canada, UK, Japan, France, Germany, India (through offices) and many others (through resellers). Formula Systems revenues split Other United 12% No. of IT engineers per 10,000 States 148 citizens 13% 160 120 83 80 60 80 55 55 45 43 33 33 32 25 Israel 40 75% 0

…going global with Formula Systems…

6 Product Offer – Software for Different Sectors

Financial Public administration General Business

Banks Government Telco

Insurance Municipalities Utilities companies

Brokerage Healthcare Power industry houses

Investment International Gas industry funds organisations

Leasing Manufacturing, Social security companies trade and services

Factoring Uniformed FMCG companies services

Mortgage Education Multimedia savings

7 Selected References in Financial Sector

8 Selected References in General Business Sector

9 Board Of Directors

10 Asseco Group Business Units

Polska

Israel

íček Dor

Central -

Haller Pomianek

Europe Lev

. .

South Eastern Marcus

ERP & Utilities &

Europe

Banking

Administration

Leader: VACAT Leader:

Leader: Marek Grac Marek Leader:

Healthcare

Insurances

Leader: Roni Al. Roni Leader:

Infrastructure

Leader: Leader: Leader: Radek Radek Leader:

DACH Piwowar Paweł Leader:

Leader: Zbigniew Zbigniew Leader:

Telco IT IT

South Western Public Europe

Northen Europe

11 Agenda

. General Information

. Financial Highlights

. Acquisition of Formula Systems

. Business Outlook

. Appendix

12 Financial Results from Top to Bottom

Consolidated Revenues Proprietary software 3 500 2 500 2Y CAGR 7.8% 2Y CAGR 14.0%

3 000 2 000

3,237 2 500 3,050 1 500 1 975 2 068 2,787 $1,066 $1,031 1 591 $667 $681 $1,025 $585 2 000 1 000 2008 2009 2010 2008 2009 2010

EBITDA EBIT Net Profit 2Y CAGR 8.4% 700 700 700 2Y CAGR 7.3% 2Y CAGR 13.6% 550 550 550 695 646 415 400 592 $229 400 569 400 373 $218 494 526 $218 $187 322 $137 $182 $178 $126 $118 250 250 250 2008 2009 2010 2008 2009 2010 2008 2009 2010

Figures in PLN millions & US Dollars millions; FX translations for: 2010 0.3293; 2009 0.3379; 2008 0.3678

13 Consolidated Revenue 2010 Product and Segment breakdown

2010 %∆ 2009

2,068 1,975 Proprietary software and services 4.7% $681 $667

64% 558 516 Third-party software and services 8.1% 17% $184 $174

592 541 Hardware and infrastructure 9.4% $195 $183 1% 18% Other sales 20 12.9% 18 3,238 3,050 Total Revenues 6.1% $1,066 $1,031

36% 1,175 1,108 Banking and finance 6.0% $387 $374

1,036 1,144 Enterprises -9.4% $341 $387

1,027 798 32% 32% Public Institutions 28.7% $338 $270

3,238 3,050 Total Revenues 6.1% $1,066 $1,031

Figures in PLN millions & US Dollars millions; FX translations for: 2010 0.3293; 2009 0.3379

14 Backlog for 2011 (in comparsion to 2010 actuals) Consolidated for Asseco Group Revenues Proprietary software

3 000 3 000 935 $308 FS 2 000 2 000 89% 819 3,238 112% $270 FS $1,066 1 000 1,952 1 000 2,068 $643 $681 1,494 $492 0 0 2010 2011 2010 2011 For standalone Asseco Poland SA Revenues Proprietary software 1 200 1 200

800 800

1,168 81% 944 400 $385 400 813 84% $311 684 $268 $225

0 0 2010 2011 2010 2011

Figures in PLN millions & US Dollars millions; FX translations for: 2010 and 2011 0.3293

15 Agenda

. General Information

. Financial Highlights

. Acquisition of Formula Systems

. Business Outlook

. Appendix

16 Rationale for the transaction

. Access to the international IT markets (USA, Israel, Canada, Japan)

. Access to one of the most innovative IT market in Israel

. Access to world-class IT specialists

. Exchange of know-how between companies of the Group

. Complement Asseco’s offer with Formula Systems products

EBIT of Formula . Use of Formula Sytems’ distribution network Systems to sell Asseco’s products 60 26.9% . Well performing financials 40

$47 20 $37 /143/ /109/ 0 2009 2010

…milestone in entering global IT market… Figures in US Dollars millions and PLN millions in brackets; FX translations for: 2010 and 2011 0.3293

17 Market Highlights

Quotations of Formula Systems holding [in USD] . Formula Systems is a holding company 20 that has unique competences in managing global IT companies. 15

. Company established in 1985, listed on Tel-Aviv Stock Exchange and Nasdaq 10 Global Market (since 1991), with total market capitalization of USD 190m and 5 NAV amounting to USD 284.8 mln.

. Total emloyment at Formula Systems of 0 5,200 people. 2009-12-31 2010-03-31 2010-06-30 2010-09-30 2010-12-31 Formula Systems Matrix Sapiens Magic

Formula Systems holding Formula Systems shareholding structure Reuters code: FORT.TA, FORT.O Bloomberg code: FORT TA, FORT US Asseco Poland 50.19% Name Matrix IT Sapiens Magic development keyword One-stop-shop Insurance Clal Insurance 10% platform Ownership 50.10% 71.60% 51.70% Menora Mivtachim 9% Net Profit ’10 $24m $6m $9m Reuters code: MTRX.TA SPNS.TA, SPNS.O MGIC.TA, MGIC.O Free Float 31% Bloomberg code: MTRX TA SPNS TA, SPNS NY MGIC TA, MGIC US

18 Group description

Leader in software development in International company specializing in Global producer of development tools and Israeli market. Matrix offer covers all IT solutions for the insurance industry integration platform aspects of IT industry. . The flagship products are: . Developing and selling technology and . Outsourcing - from personnel application platforms supporting further • RapidSureTM – IT solution for support system to management of development and implementation of property insurance and client’s selected business processes; software. • multi-module package Sapiens . Professional Services – highly . Providing consulting services in InsightTM covering property qualified staff based on „Time and infrastructure design, application insurance, property and casualty Material” concept; development and technology planning, insurance management, billing, implementation services and personnel . Software distribution – alliances claims management, support services. with global leading IT companies reinsurance management, risk offering such solutions as: CRM, BI; and closed-end insurance . Logistics solutions for airborne goods shipping, covering all stages from . Training – wide range of IT, products management, life and planning through order fulfilment to billing management and commerce training; pension management. and debt collection. controls 80% of computer education . Sapiens also offers Sapiens eMergeTM market; model-driven architecture sold as a . Flagship products: separate product but the technology is . Integration services and . uniPaaS – a platform for develompent also consistent with all insurance infrastructure – full range of services and launching software from IT infrastructure. hardware solutions offered by the Company. . iBOLT - a solution for the integration of installation through application variety of application environments integration to technical support. running in an organization. 19 Agenda

. General Information

. Financial Highlights

. Acquisition of Formula Systems

. Business Outlook

. Appendix

20 Banking and Insurance Divisions in Poland

Successes in 2010 Key Accounts

. Gaining contracts for the implementation of mobile . Bank PKO BP systems at brokerage houses . PZU Insurance Group . Implementation of the def3000 system for IDEA . Bank Ochrony Bank Środowiska . Signing of the def3000 system maintenance . Bank Gospodarki agreements Żywnościowej . Implementation of numerous modules for: . ING Bank . e-Banking . Getin Noble Bank . anti-money laundering . Deutsche Bank PBC . reporting Allianz Bank . data backup . . cash circulation monitoring . Cooperative Banking . Renegotiation of contracts with cooperative banks Group for use and maintenance of IT systems

21 Public Administration Division in Poland Successes in 2010

Key Accounts . Concluding two 3-year agreements with the Social Insurance Institution for: . maintenance of their Comprehensive Information . Social Insurance System worth PLN 400 million /USD 132 million/ Institution (ZUS) . development of their CIS worth PLN 240 million . Agency for Restructuring /USD 79 million/ and Modernization of . Signing a 1-year agreement with the Agency for Agriculture Restructuring and Modernization of Agriculture for . Ministry of Interior and maintenance of their agricultural subsidies system Administration . Signing agreements with the National Healthcare . National Healthcare Fund and many hospitals for implementation of IT Fund systems at hospitals . Agricultural Social . Gaining a contract for construction of teletechnical Insurance Fund installations at the Centennial Hall in Wrocław . Central Statistical Office . Signing a contract for building a municipal broadband network in Elbląg

Figures in PLN millions & US Dollars millions; FX translations for: 2010 0.3293

22 General Business Division in Poland

Successes in 2010 Key Accounts

. Gaining a 3-year contract from the Polish Telecom . Telekomunikacja Polska (Telekomunikacja Polska) for management of their Billing and Reporting applications . PTK Centertel . Lotos Group . Extending the framework agreement with the Lotos Group . PGE Dystrybucja . Implementation of billing systems for . Energa . PGNiG . PGNiG . PKN Orlen . Enion SA . Tauron . Implementation of ERP systems for . Vattenfall . Gigawat . Vattenfall . Tauron . PKN Orlen . Impel SA

23 Agenda

. General Information

. Financial Highlights

. Acquisition of Formula Systems

. Business Outlook

. Appendix

. Subsidiary Companies

. Formula Systems Subsidiaries

. Other Financial Information

24 Strong financials

Revenues* 3 600 750 EBITDA* 678 3,050 3,085 650 55 8% 14% 24 375 421 60 +5.9% 58 8% 14% 2 400 432 449 500 75 85 13% 17% 594 +1.1% 518

1 200 250 490 480 71% 55% 1 649 1 697

0 0 2009 2010 2009 2010 Poland CEE SEE Other Poland CEE SEE Other

600 EBIT* 556 EBIT and EBITDA Margins in FY 2010 530 15 39 7% 56 51 9% +5.0% EBITDA EBIT 49 58 10% 400 Other 13.0% 9.2%

SEE 12.8% 11.4% 200 410 408 73% CEE 16.5% 11.2% Poland 28.3% 24.1% 0 2009 2010 Poland CEE SEE Other

Figures in PLN millions; values excluding intercompany transactions; other markets comprise Asseco DACH. Asseco South Western Europe and Asseco Northen Europe; USD figures are presented on the following slides *-values excluding Formula Systems figures. 25 Poland 2010 Product and Segment Breakdown

2010 %∆ 2009

1,105 1,123 Proprietary software and services -1.5% $364 $379

21% 399 Third-party software and services -3.9% 61% 383 $135 $126

295 208 Hardware and infrastructure 42.1% $97 $70 17% 1% Other sales 5 -22.6% 7 1,799 1,750 Total Revenues 2.9% $592 $591

31% 2010 %∆ 2009 556 689 Banking and finance -19.4% $183 $233 466 463 Enterprises 0.5% 43% $153 $157 778 597 26% Public Institutions 30.4% $256 $202 1,799 1,750 Total Revenues 2.9% $592 $591

Figures in PLN millions & US Dollars millions; FX translations for: 2010 0.3293; 2009 0.3379; values includes intercompany transactions within Asseco Group – (PLN104mln) ($34mln); Excluding one month Formula Systems PLN153mln, $50mln

26 Central Europe 2010 Product and Segment Breakdown

2010 %∆ 2009

451 505 Proprietary software and services -10.7% $148 $171

23 13 88% 74.9% Third-party software and services $8 $5 5% 34 45 7% Hardware and infrastructure -25.6% $11 $15

0% Other sales 1 -9.1% 1 510 566 Total Revenues -9.9% $168 $191

27% 2010 %∆ 2009 140 123 Banking and finance 14.3% 41% $46 $41 207 282 Enterprises -26.7% $68 $95 163 161 Public Institutions 1.1% $54 $54 32% 510 566 Total Revenues -9.9% $168 $191 Figures in PLN millions & US Dollars millions; FX translations for: 2010 0.3293; 2009 0.3379; values includes intercompany transactions within Asseco Group – (PLN104mln) ($34mln); Excluding one month Formula Systems PLN153mln, $50mln

27 South Eastern Europe 2010 Product and Segment Breakdown

2010 %∆ 2009

160 147 Proprietary software and services 8.9% $53 $50 36% 126 117 28% Third-party software and services 7.0% $41 $40

53 169 Hardware and infrastructure -4.0% $53 $57 0% 36% Other sales 1 -25.2% 1 450 434 Total Revenues 3.1% $148 $148

30% 2010 %∆ 2009 262 229 Banking and finance 14.4% $86 $77 135 148 Enterprises -8.9% 58% $44 $50 54 60 Public Institutions -10.3% 12% $18 $20 450 437 Total Revenues 3.1% $148 $148

28 Rest of the Europe 2010 Product and Segment Breakdown

2010 %∆ 2009

271 217 Proprietary software and services 24.6% $89 $73 63% 48 36 Third-party software and services 34.7% 11% $16 $12

110 126 Hardware and infrastructure -13.3% $36 $43 26% 0% Other sales 1 994.7% 0 430 379 Total Revenues 13.4% $142 $128

2010 %∆ 2009 98 66 Banking and finance 49.4% 23% $22 66% $32 284 286 Enterprises -0.7% $93 $97 48 28 Public Institutions 73.4% 11% $16 $9 430 379 Total Revenues 13.4% $142 $128

Figures in PLN millions & US Dollars millions; FX translations for: 2010 0.3293; 2009 0.3379 ; values includes intercompany transactions within Asseco Group – (PLN104mln) ($34mln); Excluding one month Formula Systems PLN153mln, $50mln

29 Agenda

. General Information

. Financial Highlights

. Acquisition of Formula Systems

. Business Outlook

. Appendix

. Subsidiary Companies

. Formula Systems & its Subsidiaries

. Other Financial Information

30 Formula Systems Financials

Revenues EBIT Net Profit +26.9% 600 +17.1% 48 48,0

400 32 32,0

$550 $47 -3.7% $469 $37 200 16 /143/ 16,0 /1,389/ /1,669/ /110/ $19 $18 /56.5/ /55.8/ 0 0 0,0 2009 2010 2009 2010 2009 2010

2010 %∆ 2009

$413 $368 75% Israel 12.1% /1,254/ /1,090/

$73 $39 13% United States 88.0% /222/ /115/

$64 $62 12% Other Markets 2.2% /193/ /184/

$550 $469 Total 17.1% /1,669/ /1,389/

Figures in USD millions /PLN millions in brackets/ US GAAP basis; FX translations for: 2010 0.3293; 2009 0.3379

31 Matrix IT

Revenues EBIT Net Profit 17.5% 450 12.1% 37,5 37,5

4.9% 300 25,0 25,0

$430 $37 $384 $31 150 12,5 /112/ 12,5 $24 /1,136/ /1,306/ /92/ $23 /68/ /73/

0 0,0 0,0 2009 2010 2009 2010 2009 2010

2010 %∆ 2009 $287 $254 IT services 12.9% /872/ /752/

$48 $47 Software products distribution 1.2% 63% 10% /146/ /139/

$63 $53 Hardware and infrastructure 20.0% 14% /191/ /157/ $44 $40 Training and customization 10.0% 10% /134/ /118/ -3% Adjustments. ($12) 13.0% ($11) $430 $384 Total Revenues 12.1% /1,306/ /1,136/ Figures in USD millions /PLN millions in brackets/ IFRS basis; FX translations for: 2010 0.3293; 2009 0.3379

32 Sapiens International

Revenues EBIT Net Profit 60 7,5 25.7% 7,5 +14.3% 46.4%

40 5,0 5,0

$52 $7 $6 20 $46 2,5 $5 2,5 /136/ /158/ /21/ $4 /18/ /15/ /12/ 0 0,0 0,0 2009 2010 2009 2010 2009 2010

2010 %∆ 2009

$52 $46 Proprietary software and services 14.3% 100% /158/ /136/

0% Third-party software and services 0 N/D 0

0% Hardware and infrastructure 0 N/D 0

0% Other sales 0 N/D 0 $52 $46 Total Revenues 14.3% /158/ /136/

Figures in USD millions /PLN millions in brackets/ US GAAP basis; FX translations for: 2010 0.3293; 2009 0.3379

33 Magic Software

Revenues EBIT Net Profit 49.9% 51.8% 90 +60.0% 9 9

60 6 6 $89 $9 $9 /270/ /27/ 30 $55 3 $6 3 $6 /27/ /163/ /18/ /18/ 0 0 0 2009 2010 2009 2010 2009 2010

2010 %∆ 2009

45 40 Proprietary software and services 7.2% 51% /137/ /118/

Third-party software and services 1 24.1% 1 2%

0% Hardware and infrastructure 0 N/D 0

47% 43 14 Other sales 207.7 /131/ /41/ 89 55 Total Revenues 60.0% /270/ /163/

Figures in USD millions /PLN millions in brackets/ US GAAP basis; FX translations for: 2010 0.3293; 2009 0.3379

34 Agenda

. General Information

. Financial Highlights

. Acquisition of Formula Systems

. Business Outlook

. Appendix

. Subsidiary Companies

. Formula Systems Subsidiaries

. Other Financial Information

35 Historical Performance of Asseco

3,237.7 3 600 . 1991 – establishing of COMP Rzeszów. Revenues 3,050.3 . 2004 – IPO on the Warsaw Stock Exchange.

2,786.6 . 2004 – the first foreign acquisition (Slovak 2 400 company – AssetSoft). . 2007 – the Company merges with the WSE- listed Softbank. 1,282.4 1 200 . 2007 – commencement of an intensive expansion into the markets of Germany and 248.1 South Eastern Europe. 147.1 110.3 . 2008 – take-over of Prokom Software. 0 The subsequent merger brings significant 2004 2005 2006 2007 2008 2009 2010 cost reductions and improved efficiency. 600 569.0 . 2009 – investments in companies of the 525.5 494.3 West and North European markets. EBIT . 2010 – further reinforcement of the Group's 415.1 400 market position in West Europe. Net 373.4 321.6 Consolidation of companies operating in the Profit same geographical regions and streamlining 236.6 of the Group's organizational structure. 200 . 4th quarter of 2010 – Asseco Group 160.9 becomes a global IT player owing to 47.3 the acquisition of Formula Systems, 30.2 19.5 the largest IT company in Israel. 14.4 23.9 52.9 0 2004 2005 2006 2007 2008 2009 2010 Figures in PLN millions

36 Successful Mergers in Poland

General Effects of mergers of Total Selling administr. Asseco Poland, in mPLN expenses expenses • General administrative expenses expenses in 2010 were Asseco 2006 23.6 5.3 18.3 reduced to 39% of such Softbank 2006 37.4 6.6 30.7 expenses incurred by

Prokom 2007 195.8 47.0 148.8 individual companies Individual Individual companies companies before the merger before mergers before ABG 2009 54.9 13.0 41.9 Expenses before mergers 311.7 72.0 239.7 • Selling expenses in 2010 accounted for 73% of Expenses of Asseco 145.3 52.3 93.0 after mergers (2010) such expenses incurred by individual companies Synergy effects 166.4 19.7 146.7 before the merger Synergy effects (%) -53% -27% -61% • Total administrative and selling expenses in 2010 were reduced to 47% of such expenses incurred by companies operating separately

Figures in PLN millions

37 Financial Results of Subsidiaries

For 12 months ended Sales Sales Operating Operating Net profit Net profit 31 December 2010 revenues revenues profit profit for the year for the year in thousands of PLN 2010 2009 2010 2009 2010 2009

Asseco Central Europe Group 519,033 573,121 57,998 61,662 38,987 47,292 Asseco South Eastern Europe 503,153 436,654 55,113 55,745 47,659 38,276 Group Asseco DACH Group 160,787 144,747 13,886 (361) 11,855 3,793 Asseco South Western Europe 172,187 156,568 5,397 5,318 8,996 2,989 Group Asseco Northern Europe 81,539 98,651 10,252 12,008 8,044 9,053

Asseco Business Solutions SA 168,587 156,196 35,778 26,758 30,092 22,427

Combidata Polska Sp. z o.o. 84,476 48,050 21,412 8,153 17,011 6,161

Asseco Systems SA 311,024 222,488 15,419 21,542 6,971 24,696

ZUI Novum Sp. z o.o 23,404 20,850 3,936 3,437 3,238 2,776

ZUI OTAGO Sp. z o.o 11,666 9,544 3,118 4,231 2,585 3,582

ADH-Soft Sp. z o.o. 7,571 6,428 1,604 1,296 1,309 915

Other 49,726 40,038 4,010 515 2,025 392

Total 2,093,153 1,913,335 227,923 200,304 178,772 162,352

Figures in thousands of PLN, pro-forma figures.

38 Consolidated Profit and Loss Account

in thousands of PLN 2010 2009 mPLN ACP, AS, Alatus 1,498.1 ABS 168.6 Sales revenues 3,237,733 3,050,252 6% Formula 152.6 ACE 509.6 Gross profit on sales 1,076,749 1,043,085 3% ASEE 450.3 Other 562.5 Adjustment -104.0 Selling expenses (226,586) (220,793) 3%

mPLN General administrative expenses (288,072) (302,290) -5% ACP, AS, Alatus 345.6 ABS 35.8 Other operating income 25,215 29,014 -13% Formula 19.5 ACE 64.7 ASEE 51.1 Other operating expenses (18,343) (23,506) -22% Other 66.5 Adjustment -14.2 Operating profit 568,963 525,510 8% mPLN Interest -9.3 Financial income 55,592 79,060 -30% Currency transactions -0.6 Debt notes PI 21.0 Financial expenses (127,593) (87,609) 46% Write-down Gladstone -9.4 Write-d. Asseco Spain -41.6 Write-down ACE -14.5 Result on dilution of shares in the subsidiary company n/d (4,173) - Cost of acquisitions -10.8 Other -6.9 Pre-tax profit 496,962 512,788 -3% mPLN ACP, AS, Alatus* 350.0 Share in profits of associated companies 2,035 1,608 27% ABS 14.0 Formula 4.3 Net profit for shareholders of ACE 15.1 415,099 373,365 11% Asseco Poland ASEE 23.0 Other 43.9 Adjustment* -35.1

*adjusted by dividends Figures in thousands of PLN

39 Consolidated Balance Sheet

in thousands of PLN 31 December 2010 31 December 2009

Non-current assets 5,440,996 4,458,344 22% of which: 2,813,215 2,639,854 7% Intangible assets PLN’000 Acquisitions Goodwill arising from consolidation 2,173,718 2,178,972 0% Negative foreign exchange differences Current assets 2,455,810 1,287,417 91% Write-downs of which: 1,016,284 569,402 78% Trade accounts receivable

Cash 842,176 342,788 146%

Total assets 7,901,248 5,748,456 37%

in thousands of PLN 31 December 2010 31 December 2009

Shareholders’ equity 5,839,443 4,351,316 34% PLN’000 Non-current liabilities 628,342 468,947 34% Increase in liabilities due to put option (Statlogics) of which: Decrease in finance lease 227,121 30,552 643% Bank loans and debt securities commitments Decrease in liabilities due to Long-term financial liabilities 115,177 121,011 -5% acquisition of shares

Current liabilities 1,443,463 926,213 56%

of which: 108,140 102,082 6% Bank loans and debt securities PLN’000 Increase in debt due to Trade accounts payable 457,008 282,226 62% construction of new headquarters – Wilanów Financial liabilities 52,405 27,479 91% (expenditures incurred in Q1 2010) Total shareholders’ equity and liabilities 7,901,248 5,748,456 37% Figures in thousands of PLN

40 Thank you for your attention