cyber_Folks in the Spotlight for Future Analysts

Warsaw, November 4, 2025 – The jubilee 20th edition of the prestigious CFA Institute Research Challenge has launched in Poland. This year, participants will analyze cyber_Folks – a well-known technology group listed on the Warsaw Stock Exchange (WSE), which has been dynamically expanding in recent years through acquisitions and expansion in the European hosting, online services, and e-commerce solutions markets.

During the official kick-off meeting, it was announced that cyber_Folks has been selected as this year's "subject company" to be analyzed by student teams from the country's top economic universities. This selection is an expression of confidence in the company and a confirmation of its position as a significant player in the modern technology services segment.

"The selection of cyber_Folks as the subject company for the jubilee edition of the CFA Institute Research Challenge is an important moment and an interesting challenge for us. We want to show what modern technology business looks like — from strategic acquisitions, through the development of SaaS products and e-commerce solutions, to international expansion. Collaborating with future financial analysts is a real exchange of experiences for us: they gain insight into the daily operations of a company in a dynamic technology segment, and we get a fresh perspective on our business model and how we create value. I value such meetings of worlds, because it is precisely at the intersection of knowledge, courage, and curiosity that the best ideas are born," says Jakub Dwernicki, CEO of cyber_Folks.

The start of this year's competition coincides with a unique milestone, the 20th edition of the CFA Institute Research Challenge globally. The Polish edition, which began in 2008, enters the competition holding the title of global champions, following the spectacular victory of the team from Kozminski University in the global final in Chicago in May 2025.

The CFA Institute Research Challenge is a unique initiative that bridges the academic world with the realities of capital markets. Students, taking on the role of financial analysts, prepare a professional recommendation report on a selected public company, working under the guidance of business mentors—experienced industry experts.

"For over 15 years, the Research Challenge has been successfully educating many promising financial analysts in Poland, evidenced by the fact that graduates of this competition can be found in many financial institutions," says Professor Krzysztof Jajuga, President of the Board, CFA Society Poland. "This is not a theoretical case study. It is real analytical work, a deep dive into financial modeling, and making decisions under risk. We observe that graduates enter the job market with a competitive edge in skills that cannot be acquired in the lecture hall alone. This year's historic success of Polish students on the global stage is the best proof of this."

Interest in the competition in Poland is gradually growing. In the previous edition, over 20 teams from leading economic universities competed in the local qualifiers. This year's selection of a dynamic technology company like cyber_Folks will certainly attract more ambitious teams ready to tackle the valuation of a modern business. Over the years, participants in the Polish editions of the CFA Institute Research Challenge have analyzed leading entities listed on the Warsaw Stock Exchange, including leaders from the construction, energy, e-commerce, and technology sectors.

The Polish edition of the competition has been supported for many years by Deloitte, which, as part of this partnership, educates the young generation of analysts through mentoring and participation in the investment academy for students that accompanies the Research Challenge.

"The CFA Research Challenge competition is a unique opportunity for students to face the real challenges of the finance and investment world. Participation develops analytical skills, critical thinking, and teamwork — key competencies for future analysts. For Deloitte, this is an important initiative because supporting young talent contributes to the development of a strong and responsible business environment in Poland. Through mentoring and cooperation within the competition, we help participants bridge theory with practice and better understand the role of financial analysis in the investment process," explains Piotr Domański, CFA, Partner, Advisory Department, Deloitte.

The local final of the competition, where teams will present their recommendations to a panel of judges, will traditionally be held in the trading room of the Warsaw Stock Exchange. The winning team will represent Poland in the EMEA regional final, with a chance to advance to the global final, which will take place in 2026 in Hong Kong.

About CFA Institute Research Challenge
The CFA Institute Research Challenge is a global competition for finance students in which university teams analyze a designated publicly traded company. Students prepare an analytical report with a recommendation (buy, sell, or hold) and present it to a panel of experts. For 20 years, the competition has promoted best practices in financial analysis and professional ethics. The official Research Challenge website: contests.cfapoland.org/research-challenge.

About CFA Society Poland
CFA Society Poland was established in 2004 and is one of 160 local societies of the international CFA Institute. The organization globally brings together nearly 200,000 financial industry representatives present in over 164 countries. CFA Society Poland disseminates and implements the highest ethical and educational standards for the investment industry in Poland. The organization gathers professionals involved in the broad field of investing and financial management. It is a prestigious group of individuals who boast a wide range of financial knowledge and an excellent understanding of economic processes. The CFA designation represents the competencies and qualifications necessary for many professions. The exams cover areas such as financial instrument analysis and valuation, portfolio management, corporate finance, financial reporting, ethics, and specialized development paths at Level III: private wealth, private markets, or portfolio management. The CFA brand is synonymous with the highest quality of education, which is why, in addition to the CFA charter, finance professionals can now expand their knowledge in other areas directly related to the investment industry.

About cyber_Folks
The cyber_Folks Group is a dynamically growing technology holding company that supports small, medium, and large enterprises in building their online presence—particularly in the areas of communication, marketing, and online sales. Over 420,000 customers already use the Group's solutions, and its revenue scale is approx. PLN 800 million annually. Through its comprehensive 360° offering, the cyber_Folks Group provides full support for businesses in their digital transformation and online presence—from process automation and technological integrations to advanced hosting solutions, e-commerce, and tools supporting communication, marketing, and online sales. The Group's portfolio focuses on scalable subscription-model products covering the entire value chain—from creating and maintaining its own technologies to comprehensive sales and customer service. One of the key entities in the Group's structure is Shoper, responsible for e-commerce solutions. The Group already operates in over 180 markets, consistently strengthening its position in Europe.

About Deloitte
At Deloitte, we have been shaping business for 180 years, acting in accordance with our mission to make an impact that matters. Deloitte in Poland includes offices in nine cities, including the Deloitte CE Business Services Center in Rzeszów. Our team of experts supports clients in various areas of activity—from Audit & Assurance, through Tax Advisory and Deloitte Legal, to Consulting and Advisory. We have an impact on the development of not only societies but also individuals, which constantly drives us to continue our work. At Deloitte, we know that an organization's development does not exist without the development of every person working with us. Together, we can create an exceptional organizational environment and influence a better tomorrow. Join us and open yourself to development.