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CERTIFICATE

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THE EUROPEAN GROUP OF VALUERS‘ ASSOCIATIONS

The Polish Federation of Yaluers’ Associations

THE EUEOPEAN GROUP OF VALUERS’ ASSOCIATIONS (TEGoVA)

and

THE POLISH FEDERATION OF YALUERS’ ASSOCIATIONS (PFYA) certify that the person named below, having met all the reąuirements stipulated in the Recognition Document, is admitted to use the title of Recognised European Valuer and the designatory letters REV

Piotr Cegielski REV

REV-PI7PFVA/2013/44

01/06/2013

31/05/2018

; ' ^r. • \

Krzysztof Bratkowski ^ President

Certificate Registration Number: Issued on: Valid until:

TlGi Vfi

THE EUROPEAN GROUP OF VALUERS' ASSOCIATIONS

Roger Messenger Chairman

This Certificate is held subject to its renewal on 1 June 2018 and in compliance with the Recognised European Yaluer Recognition Document to which the above associations are party . The Polish Federation of Valuers’ Associations (PFVA) . . ul Nowogrodzka 50 . PL-00-695 Warsaw .