Changes to the Articles of Association are made by way of a resolution of the General Shareholders’ Meeting and entry in the National Court Register. These issues are regulated in para. 13 letter r) of the Articles of Association in the description of the rights of the General Shareholders’ Meeting and in para. 17 section 1 letter l) of the By-laws of the General Meeting of Shareholders of Budimex SA. Prior to taking a resolution on amending the Company’s Articles of Association, a draft of such resolution should be forwarded by the Management Board to the Supervisory Board for approval. In accordance with the provisions of the Code of Commercial Companies, such resolution should be adopted by a qualified majority of votes, i.e. (i) as a rule, 3/4ths of the total voting rights, and (ii) in the case of significant change to business activities - 2/3rds of votes.