Alior Bank S.A. — M&A Activity 2016

Jul 26, 2016

Decision of the Polish Financial Supervision Authority permitting theamendments to the articles of association of Bank BPH S.A. to be made inconnection with the intended demerger of Bank BPH S.A.

The Management Board of Alior Bank S.A. ("Alior Bank"), in reference toAlior Bank's current report No. 14/2016 dated 1 April 2016 on theexecution of a share purchase and demerger agreement regarding theacquisition of the demerged business of Bank BPH S.A. ("Bank BPH") andcurrent report No. 29/2016 dated 30 April 2016, inter alia, on agreeingand signing of the demerger plan of Bank BPH, hereby gives notice thatit became aware that on 25 July 2016 Bank BPH received a decision dated22 July 2016 issued by the Polish Financial Supervision Authority (the"PFSA") approving the amendments to the articles of association of BankBPH in connection with the intended demerger of Bank BPH in accordancewith the procedure stipulated in Article 529 § 1 Section 4 of theCommercial Companies Code (the "Demerger") (except for amendments to thearticles of association of Bank BPH related to the decrease of the sharecapital of Bank BPH related to the Demerger).

The receipt by Bank BPH of the above-mentioned decision of the PFSA willconstitute the fulfilment of one of the conditions for the Demerger asset out in section 3.2 of the Demerger plan once Bank BPH receives thedecision of the PFSA approving the amendments to the articles ofassociation of Bank BPH related to the decrease of the share capital ofBank BPH.