Appointment of the Vice Presidents of the MB

UNOFFICIAL TRANSLATION

14.04.2020 - Raport 14/2020: Appointment of the Vice Presidents of the Management Board of the Bank

Bank Polska Kasa Opieki Spółka Akcyjna (the "Bank") hereby informs that on 14 April 2020, the Supervisory Board of the Bank, after assessing suitability, appointed Mr. Leszek Skiba to the Management Board of the Bank for the current joint term of office as the Vice President of the Management Board of the Bank, with the effect from 20 April 2020 and appointed Mr. Grzegorz Olszewski, who currently holds the position of the Member of the Management Board of the Bank, for the position of the Vice President of the Management Board of the Bank, with the effect from 15 April 2020.

According to the submitted statement Mr. Leszek Skiba 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, a partnership or a corporation or a member of a corporate body of a legal person. Mr. Leszek Skiba 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.

According to the submitted statement Mr. Grzegorz Olszewski 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, a partnership or a corporation or a member of a corporate body of a legal person. According to the submitted statement 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 curricula vitae of Mr. Leszek Skiba and Mr. Grzegorz Olszewski containing information specified in § 10 point 4 of the Ordinance of the Minister of Finance of 29 March 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, are attachments to this current report.

Legal basis: § 5 point 5 of the Finance Minister's Ordinance of 29 March 2018 regarding current and periodic information provided by the issuers of securities and conditions of recognizing as equivalent information required by the laws of the state not being a member state.

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From 2015 Leszek Skiba has served as the Undersecretary of State in the Ministry of Finance, where he was responsible for supervising macroeconomic policy and tax legislation in 2016-2017 and for supporting legislation regarding financial and capital markets. He also prepared an outline of the budget system reform. From March 2019 to April 2020 he was the Chairman of the Bank Guarantee Fund Council.

In the years 2009-2015 he worked at the National Bank of Poland (NBP) at the Institute of Economics, where, as an economic expert, he actively participated in the work on the NBP report indicating the consequences of Poland's membership in the eurozone and developed numerous analyzes and reports on, in particular, the eurozone economy and forecasting indicators macroeconomic in the euro area.

In the years 2002 - 2009 he was an assistant at the Faculty of Political Studies at the College of Business - NLU in Nowy Sącz.

Since 2009, he has been conducting non-profit public activities as Chairman of the Council and expert of the Sobieski Institute.

Leszek Skiba is an alumnus of the Szkoła Główna Handlowa w Warszawie (Warsaw School of Economics), which he graduated with a master's degree in International Economic and Political Relations. He is the author of numerous publications in the field of his professional work and public activity.

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Grzegorz Olszewski from April 2019 has been a Member of the Management Board of Bank Pekao S.A., initially responsible for managing investment and insurance products, and subsequently for supervision of the Technology and Operations Division, where he is responsible for robotization and automation of banking operations and coordination of cooperation with the PZU SA group. At the same time he is the Chairman of the Supervisory Board of Pekao Investment Management S.A. and the Chairman of the Supervisory Board of Pekao Financial Services Sp. z o.o.

From October 2017 to March 2019 employed in the PZU Group as the Director of the Sales Office of Investment Products. At the same time, he managed the work related to launching of 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 solutions in the field of investment funds, treasury products and the FOREX market. From 2012 worked 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 the Faculty of Management at the University of Warsaw, where he completed the Executive MBA program and Lazarski University, where he completed second degree studies in the field of Economics as well as Wyższa Szkoła Zarządzania / Polish Open University (currently the Academy of Finance and Business Vistula in Warsaw) in the field of Financial Management and Bachelor of Arts (BA), Finance, at Oxford Brookes University.