ManagementBoard of VIGO Photonics S.A. (_quot;Company_quot;, _quot;Issuer_quot;) informs that today ithas received information about the signing of an agreement by theNational Center for Research and Development with the Company forco-financing the Issuer's project entitled: _quot;HyperPIC - Photonicintegrated circuits for mid-infrared applications_quot; (abbreviated as _quot;Project") under Priority II. An environment conducive to innovationMeasure 2.10 IPCEI Recruitment FENG.02.10-IP.01-002/23, European Fundsfor a Modern Economy 2021-2027. The project will be implemented as partof the integrated European project IPCEI ME/CT (Important Projects ofCommon European Interest on Microelectronics and CommunicationTechnologies).

TheIssuer informed about the decision of the European Commission approvingthe maximum ceiling of public aid in the project in current report No.22/2023 of June 12, 2023, and about its inclusion on the list ofentities recommended for co-financing in current report No. 13/2024 ofFebruary 23, 2024.

Theaim of the project is to develop and implement the technology ofintegrated photonic integrated circuits intended for mid-infrareddetection, to build a complete production line of mid-infrared photonicintegrated circuits and to create a complete supply chain for thesesystems. The project requires the development of new technologies,significant investment and operational expenditure, as well asexpenditure on the commercialization of new products on a dynamic market.

Thetotal value of eligible costs in the project is PLN 853,117,563.35, andthe maximum amount of public aid is PLN 440,535,480.00, whichcorresponds to the so-called financial gap in the project. Eligiblecosts in the project include expenditure on research and developmentwork, expenditure on the construction of a new production line andoperating costs after launching the new production line.

Theupdate of the value of eligible costs and subsidies expressed in PLNresults from the fact that they are re-calculated from the valuesexpressed in EUR listed in the decision of the European Commission(approving the maximum ceiling of public aid) at the exchange rate onthe date of conclusion of the Agreement at the average exchange rate offoreign currencies - announced by the National Bank of Poland -applicable on the day the aid was granted.

Theproject is planned to be implemented in 2023-2029 and consists of twophases:

-R_amp;D phases (2023-2027). The value of eligible costs in the R_amp;D phase isPLN 146,366,042.37

-FID (First Industrial Deployment) phase, i.e. the first industrialimplementation (2024-2029), including investments in a new productionline and implementation of new products into production, includingfinancing of part of the operating costs during implementation. Thevalue of eligible costs in the FID phase is PLN 706,751,520.98.

Afterthe end of the FID phase, it is planned to start serial production(after 2029), which does not include public funding for the project. TheCompany's Management Board anticipates that the eligible costs of theproject, above the value of funding from public funds, will be coveredfrom the Company's funds and equity, from debt financing and/or, inparticular in the FID phase, from other sources, such as, among others,strategic project partnership and/or off-balance sheet financing in theproject finance formula.