Remuneration Information • Mar 3, 2023
Remuneration Information
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Deloitte Audit Spółka z ograniczoną odpowiedzialnością Sp. k. al. Jana Pawła II 22, 00-133 Warsaw, Poland
Phone: +48 22 511 08 11 Fax: +48 22 511 08 13 www.deloitte.com/pl
For the General Meeting of Shareholders and the Supervisory Board of Bank Millennium S.A.
We have provided an independent assurance service giving reasonable certainty consisting in the assessment of the attached Report on the Remuneration of Members of the Management Board and Supervisory Board of Bank Millennium S.A. (hereinafter the "Company") for 2022 ("Remuneration Report") in terms of the completeness of the information contained therein required pursuant to Article 90g(1)-(5) and (8) of the Act of 29 July 2005 on Public Offering and Conditions Governing the Introduction of Financial Instruments to the Organised Trading System and on Public Companies (Journal of Laws of 2022, item 2554) (" Public Offering Act").
The Remuneration Report was prepared by the Supervisory Board in order to meet the requirements set out in Article 90g section 1 of the Public Offering Act. The Remuneration Report was adopted by the Supervisory Board by Resolution No. 12/2023 of February 15, 2023.
The Remuneration Report was assessed by the auditor in terms of including the information required under Article 90g(1)-(5) and (8) of the Public Offering Act in order to fulfil the obligation under Article 90g(10) of this Act.
The requirements regarding the content of the Remuneration Report are set out in Article 90g(1)-(5) and (8) of the Public Offering Act .
Pursuant to the Public Offering Act, the Supervisory Board is responsible for preparing the Remuneration Report. The members of the Supervisory Board are responsible for the information contained in the Remuneration Report.
The responsibility of the Supervisory Board also includes the design, implementation and maintenance of an internal control system ensuring the preparation of the Remuneration Report in accordance with the requirements of the Public Offering Act and free from material distortions caused by fraud or error.
Our aim was to assess the completeness of the information contained in the attached Remuneration Report against the criterion set out in the section Identification of criteria and to express, on the basis of the evidence obtained, the conclusion from this service.
We have provided this service in accordance with the National Standard for Assurance Engagements Other than Audit and Review 3000 (R) as amended by International Standard on Assurance Engagements ISAE 3000 (Revised), Assurance Engagements Other than Audits or Reviews of Historical Financial Information ("ISAE 3000 (R)"), adopted by the National Board of Statutory Auditors.
This standard imposes on the statutory auditor the obligation to plan and execute procedures in such a way as to collect information and explanations deemed necessary by us to obtain reasonable assurance that the Remuneration Report contains the information required under Article 90g(1)-(5) and (8) of the Public Offering Act.
The name Deloitte refers to one or more entities of Deloitte Touche Tohmatsu Limited, a private limited liability entity governed by the laws of the UK and its member firms which are separate and independent legal entities. A detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms can be found at www.deloitte.com/pl/onas
Member of Deloitte Touche Tohmatsu Limited
Reasonable assurance is a high level of assurance but does not guarantee that a service performed in accordance with KSUA 3000(Z) will always detect an existing material distortion.
The choice of procedures is at the discretion of the auditor, including based on our estimation of the extent of material misstatement due to fraud or error. In assessing this risk, we take into account the internal controls involved in the preparation of the Remuneration Report in order to plan procedures appropriate to the circumstances to provide us with sufficient and appropriate evidence, rather than to make a conclusion about its effectiveness.
In accordance with the National Quality Control Standard 1 in the wording of the International Standard on Quality Management (ISQM) (PL) 1 - "Quality Control for Firms that Perform Audits and Reviews of Financial Statements and Other Assurance and Related Services" developed by The International Auditing and Assurance Standards Board (IAASB) adopted by Resolution No. 38/1/2022 of the Board of the Polish Audit Supervision Agency of November 15, 2022 ("KSKJ 1"), we maintain and apply a comprehensive quality management system operating in a continuous and iterative manner and reacting to changes in the type and circumstances of the company and its orders.
We comply with the independence and other ethical requirements set out in The International Code of Ethics for Professional Accountants (including International Standards for Independence) of The International Ethics Standards Board for Accountants (IESBA) adopted by The National Board of Statutory Accountants. We have also complied with other independence and ethics requirements that apply to this assurance service.
The procedures planned and carried out by us included in particular:
Our procedures were aimed solely at obtaining evidence that the information provided by the Supervisory Board in the Remuneration Report in terms of its completeness complies with the applicable requirements. The purpose of our work was not to assess the adequacy of the information included in the Remuneration Report in terms of the preparation of the Remuneration Report or to assess the correctness and reliability of the information contained therein, in particular as to the amounts disclosed, including estimates made for previous years, as well as figures, dates, breakdown format, allocation methods, or compliance with the adopted remuneration policy.
The Remuneration Report was not audited within the meaning of the National Auditing Standards. During the assurance procedures, we did not audit or review the information used to prepare the Remuneration Report and therefore, based on the service provided, we accept no responsibility for issuing or updating any reports or opinions on the Company's historical financial information.
We consider that the evidence obtained by us constitutes a sufficient and appropriate basis for our following conclusion.
In our opinion, the attached Remuneration Report, in all material respects, contains all the elements listed in Article 90g(1)- (5) and Article 90g(1)-(5) and Article 90g(8) of the Public Offering Act.
This report has been prepared for the General Meeting and the Supervisory Board and is intended only for the purpose described in the section "Subject of the service" and should not be used for any other purpose.
Acting on behalf of Deloitte Audyt Spółka z ograniczoną odpowiedzialnością Sp. k. with registered office in Warsaw, entered on the list of audit firms under number 73:
Digitally signed by Dorota Dorota Snarska-Kuman Snarska-Kuman Date: 2023.02.15 17:41:31 +01'00'
Dorota Snarska-Kuman no. in register 9667 Warsaw, February 15, 2023
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