Bank Pekao S.A.

Capital/Financing Update • Mar 26, 2024

UNOFFICIAL TRANSLATION26.03.2024 - Report 5/2024: Expressionof consent by the Management Board of Bank Polska Kasa Opieki SpółkaAkcyjna to the issue of MREL bondsBank Polska Kasa OpiekiS.A. (the"Bank") hereby informs that on 26 March 2024 theManagement Board of the Bank expressed consent to the issue of seniornon-preferred bonds with a planned total nominal value not exceeding PLN500,000,000 (in words: five hundered thousand zlotys) (the "Bonds").The final total nominal value of the Bonds may be increased by theManagement Board of the Bank in case of significant investor interestexpressed in the course of book-building process. The Bonds willconstitute eligible liabilities of the Bank within the meaning ofArticle 97a (1) pt. 2) of the Act on the Bank Guarantee Fund, DepositGuarantee System and Forced Restructuring of June 10, 2016.Thenominal value of one Bond will be PLN 500,000 (in words: five hundredthousand zlotys). The Bonds will be unsecured. The detailed terms of theissue and the exact size of the issue of Bonds will be determined at alater date, about which the Bank will inform in a separate currentreport, taking into account inter alia results of the book-buildingprocess among investors and the situation on the bond market.TheBonds may be issued in one or more series. The offer of Bonds will becarried out exclusively on the territory of Poland. The Bonds will beoffered in a manner which shall not trigger the obligation to draw up aprospectus, because the Bonds will be issued in accordance with Article33 point 1) of the Act of 15 January 2015 on bonds, and proposals forthe purchase of Bonds will be addressed solely to qualified investorsonly within the meaning of art. 2 letter e of Regulation (EU) 2017/1129of the European Parliament and of the Council of 14 June 2017 on theprospectus to be published when securities are offered to the public oradmitted to trading on a regulated market and repealing Directive2003/71/EC.The considered time of the commencement of Bondsissue process is March 2024, subject to the reservation that it dependson the situation on the bond market.Legal basis: Article 17.1 ofMAR - confidential information