Setting the date for completion of the acquisition

UNOFFICIAL TRANSLATION

17.05.2017 - Report 25/2017: PZU's information concerning the setting the date for completion of the acquisition of a block of shares in Bank Pekao S.A.

The Management Board of Bank Polska Kasa Opieki S.A. with its registered office in Warsaw, acting on the basis of Art. 17 sec. 1 of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC (Official Journal of the European Union L of 2014, No. 173, as amended, hereinafter referred to as the "MAR"), hereby informs that on 16 May, 2017 Powszechny Zakład Ubezpieczeń published the current report No 40/2017 with the following wording:

"Setting the date for completion of the acquisition of a block of shares in Bank Pekao S.A.

Legal Basis: Art. 17 section 1 of MAR - confidential information

Body of the Report:

With reference to Current Report no. 82/2016 of 8 December 2016 and Current Report no. 28/2017 of 29 March 2017, the Management Board of Powszechny Zakład Ubezpieczeń Spółka Akcyjna with its registered office in Warsaw ("PZU SA", the "Company"), acting pursuant to Art. 17 sec. 1 of Regulation (EU) No. 596/2014 of the European Parliament and of the Council on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC (Official Journal of the EU of 2014, No. 173, p. 1, as amended, hereinafter referred to as the "MAR"), hereby informs you that on 16 May 2017 PZU SA, Polski Fundusz Rozwoju ("PFR") and UniCredit S.p.A. ("UniCredit"), as parties to the transaction of the purchase of a significant holding of shares in Bank Polska Kasa Opieki S.A. (the "Bank") by PZU SA acting in consortium with PFR from UniCredit on the basis of the agreement to sell a block of shares in the Bank (the "SPA"), about which PZU SA informed you in Current Report no. 82/2016 of 8 December 2016 and Current Report no. 28/2017 of 29 March 2017 (the "Transaction"), signed an agreement to set the date for completion of the Transaction (the "Agreement").

Signing the Agreement is related to the announcement of the convening of the Extraordinary General Meeting of the Bank for 8 June 2017 (the "EGM"). Pursuant to the Agreement, the completion of the Transaction, i.e. the execution of the acquisition by PZU SA and PFR of shares in the Bank from UniCredit, should take place on 7 June 2017, i.e. on the business day preceding the EGM."