Appointment of the Vice President

UNOFFICIAL TRANSLATION

23/11/2018 - Report 32/2018: Appointment of the Vice President of the Management Board of Bank Polska Kasa Opieki Spółka Akcyjna

Bank Polska Kasa Opieki Spółka Akcyjna (the "Bank") hereby informs that on 23 November 2018, the Bank's Supervisory Board, taking into consideration the suitability assessment, appointed Ms Magdalena Zmitrowicz to the Banks' Management Board for the current term of office and entrusted her with the position of Vice-President of the Bank, effective as of 1 December 2018.

According to the submitted statement Ms Magdalena Zmitrowicz does not conduct any business competitive to that of the Bank and she 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 the Ms Magdalena Zmitrowicz 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)

-------------------------------------------------------------------------------------------------------------------------------------

Magdalena Zmitrowicz joined Bank Pekao S.A. in 2018 and held a role of Managing Director since then.

Before joining Bank Pekao S.A, Magdalena worked at Bank Handlowy w Warszawie S.A. as well as European structures of Citigroup. During a period 1999-2018 she held various roles, incl. position of a Director in Commercial Banking, a Regional Sales Director and a Regional Director in Public Sector in Commercial Banking Department where she was responsible for the sales management structures on regional and branch levels.

Magdalena graduated from the University of Gdansk in Social Sciences as well as Management. She participated in numerous trainings and courses in Poland and abroad with regards to management, banking and finance-related subjects. In 2013 she graduated from Commercial Credit College, Citibank, Citigroup, NYC, USA. She was leading the group of Strategy Champions within Bank Handlowy w Warszawie S.A.