Structure of the group

 Related parties under consolidation process

 Non-consolidated companies

* as at 31 December 2014, Grupa Armatura included the following entities: Armatura Kraków SA, Armatoora SA, Armaton SA, Armatura Tower Sp. z o.o., Arm Property sp. z o.o., Armagor SA and Armadimp SA.

** Grupa Centrum Medyczne Medica includes the following entities: Centrum Medyczne Medica Sp. z o.o. and Sanatorium Uzdrowiskowe “Krystynka” Sp. z o.o.

The structure does not cover investment funds.