Banku Handlowego w Warszawie S.A.

Earnings Release • Dec 17, 2021

Current Report No. 41/2021

Subject: Events affectingthe net financial results of Bank Handlowy w Warszawie S.A. in thefourth quarter of 2021

Legal basis:Art. 17 of the Regulation (EU) No 596/2014 of the European Parliamentand of the Council of 16 April 2014 on market abuse (MAR).

The Management Board of Bank Handlowy w WarszawieS.A. ("the Bank"), announces that on December 17, 2021, it acceptedthechange in the valuation of the Bank's equity investments and provisionsfor the reimbursement of part of the commission for granting consumerloans repaid before a contractual deadline. Their impact on the Bank'snet financial result in the fourth quarter of 2021 will be as follows:

_#183;_#160;_#160;_#160;_#160;_#160;Change in the valuation of the Bank'sequity investments: approx. PLN 39 million (positive impact on theBank's net financial result)

_#183;_#160;_#160;_#160;_#160;_#160;_#160;Change in the estimated provision forreimbursement of part of commission for granting consumer loans repaidbefore a contractual deadline: approx. PLN 13 million (negative impacton the Bank's net financial result), including PLN 6 million reducingthe net interest income and PLN 7 million increasing other operatingexpenses.