Guidelines reg. distribution of profit 2021-2024

UNOFFICIAL TRANSLATION

29.03.2021 - Report 11/2021: Defining of guidelines regarding distribution of the profit of Bank Polska Kasa Opieki S.A. for the years 2021-2024

Bank Polska Kasa Opieki Spółka Akcyjna (the "Bank") hereby informs that on 29 March 2021, the Bank's Management Board adopted a resolution specifying the following guidelines regarding distribution of the Bank's profit for the years 2021-2024:

(i) allocation of 50% -75% of the Bank's profit for 2021 to the dividend for 2021,

(ii) allocation of 50% -75% of the Bank's profit for 2022 to the dividend for 2022,

(iii) allocation of 50% -75% of the Bank's profit for 2023 to the dividend for 2023,

(iv) allocation of 50% -75% of the Bank's profit for 2024 to the dividend for 2024.

Guidelines regarding the distribution of the Bank's profit for the years 2021-2024 may change, and the Management Board may recommend the distribution of profit for a given year during this period that is different than the payout indicated above, in particular depending on:

(i) recommendations of the Polish Financial Supervision Authority ("PFSA") regarding the distribution of profit or stance of the PFSA regarding the distribution of profit,

(ii) significant change in the growth rate of risk-weighted assets,

(iii) significant deterioration of the macroeconomic and financial markets conditions in Poland or globally,

(iv) introduction of regulations that have or could have a significant impact on the capital adequacy of the Bank or the capital group of the Bank,

(v) imposing additional capital buffers on the Bank.

Guidelines for distribution of the Bank's profit for the years 2021-2024 received a positive assessment of the Bank's Supervisory Board on 29 March 2021.

Legal basis: Art. 17 (1) MAR - confidential information