Buyout and redemption of bonds with priority right

UNOFFICIAL TRANSLATION

Report 1/2013: Buyout and redemption of Bonds with priority right to take up shares issued by the Bank

The Management Bard of Bank Polska Kasa Opieki Spółka Akcyjna ("Bank") informs, that on 2nd of January, 2013 Bank bought out 40.361 Series D registered Bonds with priority right to take up Bank's Ordinary Bearer Shares G Series ("Bonds"), issued by the Bank on the basis of "Resolution No. 6 of the Extraordinary General Meeting of Bank Polska Kasa Opieki Spółka Akcyjna dated 25th of July, 2003 concerning issuance of Series A, B, C and D registered Bonds with priority right to take up Bank's shares, exclusion of pre-emptive right Bank's shares Series F and G and exclusion of pre-emptive right of registered bonds Series A, B, C and D with priority right to take up Bank's shares" ("Resolution No. 6 of the EGM"), as a part of execution of Motivation Program for the members of management bodies, managers and employees of Bank Polska Kasa Opieki Spółka Akcyjna capital group, key for implementation of Bank's strategy, created by the Resolution No. 5 of Extraordinary General Meeting of Bank Polska Kasa Opieki Spółka Akcyjna dated 25th of July, 2003("Motivation Program").

The Bonds were bought out by the Bank at buyout date, in accordance with the Conditions of Issue Series D Bonds, adopted by Resolution of the Management Board of the Bank No 40/III/05 dated 30th of March 2005 and § 16 sec. 2 of the Resolution No. 6 of the EGM from bond holders who have not executed priority right to take up Bank's Series G Shares resulting from Bonds. According to Art. 24 sec. 1 of the Act on Bonds dated June 29, 1995 (Journal of Laws of 2001 No. 120, Item 1300), as the result of the buyout, the Bonds in the number of 40.361 were redeemed.

Buyout price was equal to nominal value of the Bonds and amounted to 0,01 zloty for each Bond.

Legal basis:

Section 5 subsection 1 clause 6 in connection with section 12 of the Finance Minister's Ordinance of the 19th of February 2009 regarding current and periodic reports published by the issuers of securities and the rules of equal treatment of the information required by the laws of non-member states.