BPKD.L Regulatory News (BPKD)

Unofficial Translation

Bank Pekao S.A.

Report No. 6/2019

Appointment of the Members of the Management Board of Bank Polska Kasa Opieki Spółka Akcyjna

Bank Polska Kasa Opieki Spółka Akcyjna (the "Bank") hereby informs that on 6 March 2019, the Bank's Supervisory Board, taking into consideration the suitability assessment, appointed Mr Piotr Wetmański and Mr Grzegorz Olszewski to the Banks' Management Board for the current term of office and entrusted them with the position of Management Board Members of the Bank.

The appointment is effective as of 7 March 2019 in case of Mr Piotr Wetmański and 1 April 2019 in case of Grzegorz Olszewski.

Additionally, Mr Grzegorz Olszewski was appointed Member of the Management Board for the new three-year joint term of office, effective as of the day following holding of the Ordinary General Meeting approving the financial statements of Bank for the financial year 2018. According to the submitted statement Mr Piotr Wetmański does not conduct any business competitive to that of the Bank and he is not involved in a competitive business as a shareholder or partner in a civil law company or partnership or a corporation or as a member of a corporate body of a competitive legal person, is not registered in the Register of Insolvent Debtors kept pursuant to the provisions of the KRS (National Court Register) Act of 20 August 1997.

The curriculum vitae of Mr Piotr Wetmański containing information indicated in § 10 point 4 of the Ordinance of the Minister of Finance of March 29, 2018 regarding current and periodic information provided by issuers of securities and conditions for recognizing as equivalent information required by the laws of the state not being a member state, is an attachment to this current report.

According to the submitted statement Mr Grzegorz Olszewski is not involved in a competitive business as a shareholder or partner in a civil law company or partnership or a corporation or as a member of a corporate body of a competitive legal person and declared termination of professional activity with respect to entities of the PZU Group before effective appointment as a Member of the Management Board. Mr Grzegorz Olszewski is not registered in the Register of Insolvent Debtors kept pursuant to the provisions of the KRS (National Court Register) Act of 20 August 1997.

The curriculum vitae of Mr Grzegorz Olszewski containing information indicated in § 10 point 4 of the Ordinance of the Minister of Finance of March 29, 2018 regarding current and periodic information provided by issuers of securities and conditions for recognizing as equivalent information required by the laws of the state not being a member state, is an attachment to this current report.

Legal basis: § 5 point 5 of the Finance Minister's Ordinance of 29 March 2018 re. current and periodic reports published by the issuers of securities and the rules under which the information required by the laws of non-member states shall be deemed equivalent. (Journal of Laws 2018, item 757)

Biography of Piotr Wetmański

Piotr Wetmański joined Pekao SA in 2017, assuming responsibility for building the bank's strategy for 2018-2020 and its operationalization.

From 2014 Piotr Wetmański was responsible for supporting the key management of Bank of America Merrill Lynch in strategy planning for the Global Corporate and Investment Banking business as well as for the Global Banking and Markets in EMEA. Previously, in the same organization, he was responsible for financial and strategic advisory in the area of mergers and acquisitions in the Central and Eastern Europe and Great Britain markets. Previously, he was involved in business strategy and strategic projects at Goldman Sachs and Bloomberg.

Piotr Wetmański received a master's degree with merit in the area of Political Sciences and Political Economy at the London School of Economics and Political Science. He also graduated in Philosophy and Economics at the University College of London. In 2017 he was awarded the title of Future Leader in Global Finance by the Institute of International Finance.

Biography of Grzegorz Olszewski

Grzegorz Olszewski since October 2017 in the PZU Group as the Director of the Sales Office of Investment Products. At the same time, he managed the work of launching the first platform for the sale of passive investment funds in Poland, which was recognized by the ISBnews agency as the most revolutionary product of 2018.

He started his career in the financial sector in 2008 at Contact Center of Bank Millennium. Then he worked in banking branches on positions related to credit and savings and investment customer service. In 2010, he joined Alior Bank where he supported the implementation of new very competitive solutions in the field of investment funds, treasury products and the FOREX market. From 2012, as the Director of Sales of Investment Products in the Alior Bank Brokerage Office.

In December 2016, he became the Director of the Sales and Marketing Department at AgioFunds TFI S.A.

Grzegorz Olszewski is a graduate of Wyższa Szkoła Zarządzania / Polish Open University (currently the Vistula Academy of Finance and Business in Warsaw) in the field of Finance Management and Bachelor of Arts (B.A.), Finance, Oxford Brookes University.