Banku Handlowego w Warszawie S.A.

Earnings Release • Feb 5, 2025

Subject:Impairment loss recognized in the Consumer Banking segment

Legalbasis:Art.17(1) of the Regulation (EU) No 596/2014 of the European Parliament and ofthe Council of 16 April 2014 on market abuse (MAR).

TheManagement Board of Bank Handlowy w Warszawie S.A. ("Bank") informs thatin the process of preparation of the stand alone and consolidatedfinancial statements for 2024, an impairment test was performed in theConsumer Banking segment (cash-generating unit) in line withInternational Accounting Standard 36.

Asa result of impairment test performed as of December 31st,2024, the Bank recognized an impairment loss that reduced the value ofnon-current assets in the Consumer Banking segment in total amount ofPLN 252 million. The total amount of the impairment will impact theBank's financial results in Q4 2024.

Thisis a one-off event, Bank's liquidity and capital ratios significantlyexceed regulatory requirements.

Thekey factors which triggered the impairment were lower interest income inthe Consumer Banking segment - as a result of expected decline ininterest rates for the Polish zloty and for major foreign currencies aswell as maintained cost pressures.

Disclosureof financial results for full 2024 is scheduled for March 12th, 2025.