Bank Pekao S.A.

Capital/Financing Update • Oct 31, 2023

UNOFFICIAL TRANSLATION31.10.2023 - Report 24/2023: Expressionof consent by the Management Board of Bank Polska Kasa Opieki SpółkaAkcyjna for the establishment of a programme for the issuance of euromedium term eurobondsBank Polska Kasa Opieki Spółka Akcyjna("Bank") hereby announces that on 31 October 2023, theManagement Board of the Bank adopted a resolution concerning theapproval for the establishment by the Bank as issuer of a programme ("EMTNProgramme") for the issuance of euro medium term eurobonds ("Eurobonds").TheEMTN Programme has been established under the following conditions:1.value of the EMTN Programme: EUR 5,000,000,000 or its equivalent inother currencies;2. Eurobonds issued under the EMTN Programme willbe offered and sold outside the territory of the United States ofAmerica to, or for the account or benefit of, non-U.S. persons, asdefined in Regulation S under the U.S. Securities Act of 1933 ("U.S.Securities Act"). Eurobonds will not be registered in accordancewith the U.S. Securities Act or any other state regulations concerningsecurities;3. the Eurobonds may be issued in euros, zlotys, and/orother currencies in any number of tranches, with various intereststructures and maturities;4. the Eurobonds may be issued as green orsustainable bonds;5. the Eurobonds will be deposited with a commondepositary and registered in the name of the entity designated as commondepositary for Euroclear Bank SA/NV or Clearstream Banking, S.A.;6.the Bank can apply for the admission of a particular series of Eurobondsto official listing on the Luxembourg Stock Exchange (the "LuxSE")and admission to trading on the regulated market of the LuxSE, theLuxembourg Green Exchange, the Warsaw Stock Exchange or any other entityoperating a regulated market within the meaning of Directive 2014/65/EUon markets in financial instruments (as amended from time to time);7.the issuance of each series of the Eurobonds under the EMTN Programmemust be approved by separate resolutions of the Management Board.Inconnection with the EMTN Programme, the Bank will prepare a baseprospectus to be approved by the Commission de Surveillance du SecteurFinancier in Luxembourg.Legal basis: Art. 17 of (1) MAR- inside information