Bank Pekao S.A.

Capital/Financing Update • Apr 16, 2024

UNOFFICIAL TRANSALTION16.04.2024 - Report 11/2024: Costs ofthe establishment of the EMTN Programme and the issuance of the seniornon-preferred notes series 1 with an aggregate nominal value of EUR500,000,000 under the EMTN ProgrammeBank Polska Kasa OpiekiS.A. (the _quot;Bank_quot;), with reference to current report No. 27/2023 dated 16November 2023 (as corrected on 24 November 2023), advises that:1.the total costs recognised as issuance costs broken down by cost itemcomprise the following:a. preparation and conduct of the offer: 5.09mn. PLN;b. underwriters' remuneration, for each separately: notapplicable (the Bank did not enter into any underwriting agreements inconnection with the issue);c. establishment of the EMTN Programme,including preparation of the prospectus in connection with the EMTNProgramme establishment, including advisory costs: 2.58 mn. PLN;d.promotion of the offer: 0.02 mn. PLN.The total expenditure listedabove amounted to 7.68 mn. PLN gross (i.e. including VAT).2. themethod of accounting for costs in the accounts and how they arerecognised in the Bank's financial statements:Expenses related tothe work on preparing the Prospectus and other expenses incurred to daterelating to the bond offering will be deferred respectively - for aperiod of twelve months from the date of acceptance of the prospectus bythe Commission de Surveillance du Secteur Financier in Luxembourg (costslisted in letter d) or over the life of the issued bonds (costs listedin letters a and c).3. the average cost of carrying out thesubscription per unit of security subscribed: 1.02 ths. PLN.Itshould be noted that the above average cost does not include the cost ofdrawing up the prospectus, as this item applies to all bond offeringscarried out under the EMTN Programme. If the cost of drawing up theprospectus were included, the average cost of carrying out thesubscription per security unit subscribed for would be 1.54 ths. PLN.Legalbasis: § 16 of the Ordinance of the Minister of Finance of 29 March 2018on current and periodic information provided by issuers of securitiesand conditions for recognising as equivalent information required by thelaws of a non-member state.