Bank Pekao S.A. — M&A Activity 2021

Jan 4, 2021

Report 1/2021: The conclusion of a subsidy agreement in connectionwith the acquisition by Bank Polska Kasa Opieki S.A. of the enterpriseand the liabilities of Idea Bank S.A. as a result of application of theresolution toolLegal basis: Article 17(1) of the MAR -inside informationIn reference to current reports No. 50/2020and No. 51/2020 of 31 December 2020, Bank Polska Kasa Opieki S.A. (the "Bank")hereby informs that, in connection with the acceptance on 31 December2020 of a binding offer submitted by the Bank on 21 December 2020 forthe acquisition of the assets and rights of Idea Bank S.A. constitutingan enterprise within the meaning of Article 55(1) of the Civil Code of23 April 1964 and the liabilities of Idea Bank S.A. excluding certainassets, rights and liabilities (the "Acquired Business"),following the application by the BGF of a resolution tool, as referredto in Article 174(1)(1) and 174(1)(2) of the Act of 10 June 2016 on theBank Guarantee Fund, the Deposit Guarantee Scheme and the Resolution(the "Binding Offer"), on 1 January 2021, a subsidyagreement was concluded between the Bank and the BGF (the "SubsidyAgreement").Pursuant to the Subsidy Agreement,the BGF will provide the Bank with a subsidy of PLN 193,000,000 (onehundred and ninety-three million PLN) to cover the difference betweenthe value of the liabilities of Idea Bank S.A. being assumed and thevalue of the acquired assets and rights of Idea Bank S.A. The Subsidyagreement will come into force as of the Acquisition Date.Inview of the above, all the conditions provided in the Binding Offer,following the satisfaction of which the Bank agreed to acquire theAcquired Business, have been satisfied.