Changes in the composition of the Management Board

UNOFFICIAL TRANSLATION

Report 12/2013: Changes in the composition of the Management Board of Bank Polska Kasa Opieki S.A.

The Management Board of Bank Polska Kasa Opieki Spółka Akcyjna ("Bank, Bank Pekao S.A.") informs that on 12th March 2013 Mr. Marco Iannaccone resigned from the function of Vice President of the Management Board of the Bank, effective from 31st March 2013. Mr. Marco Iannaccone shall cover another important managerial function in the UniCredit Group.

On 12th March 2013 the Supervisory Board of the Bank appointed, effective from 1st April 2013, Mr. Stefano Santini as Vice President of the Management Board of Bank Polska Kasa Opieki S.A. for the current, common term of office of the Management Board of the Bank.

CV of Mr. Stefano Santini:

Stefano Santini

Born on 2nd March 1975 in Brescia (Italy)

Education

He is the graduate of University Bocconi in 1999 in Economics with thesis on the Transition to Market Economy of Eastern European Countries. In 1999, he was Macroeconomic Researcher in a major institute in Milan (ISPI), focusing his studies on Eastern Europe economic development. During 2002, after joining UniCredit, he attended the Young Talents Program, an international Management Course in cooperation between Unicredit and SDA Bocconi School of Management.

Professional career

After a period of economic research, he started his professional career in banking sector in 2000 joining UniCredit Group in the newly established New Europe Division as Macroeconomic analyst. At the same time, he was involved in planning and control activities and during 2002 he supported the activities of P&C and project management of the integration projects in Croatia and Romania for UniCredit Group, while being advisor to the Supervisory Board members of Zagrebacka Banka and UniCredit Romania. During 2003, he started to support P&C, Project Office in Bank Pekao S.A. as UniCredit representative. In January 2005 he joined Bank Pekao S.A. as Deputy Head of Finance Division. During 2006, following the merger between UniCredit and HVB, he was appointed as Project Manager of the Spin off and Merger of BPH and Bank Pekao S.A. Directly reporting to the General Manager of Bank Pekao S.A., he coordinated the work of 14 Task Forces and was member of the negotiation team of Pekao in defining among others, the main contracts and conditions for the spin-off of Bank BPH and integration into Bank Pekao S.A.

In 2008, he was appointed as Managing Director, Head of ALM and Capital Management of Bank Pekao S.A. Following the start of the economic crisis in Ukraine, he was appointed as Advisor of the Supervisory Board of UniCredit Bank Ukraine and Member of the Audit Committee.

In April 2010 he joined the Management Board of UniCredit Bank Hungary Zrt. as Chief Financial Officer in charge of Planning and Control, Accounting, MIS, ALM, Tax while supervising the activities of the main Bank's subsidiaries. At the same time he was elected as Chairman of the Supervisory Board of UniCredit Jelzálogbank Zrt. (Mortgage Bank) and Chairman of Bank ALCO.

In accordance with a submitted declaration Mr. Stefano Santini as of the date of holding the function of Vice President of the Management Board of the Bank shall not carry out activities competitive to the activities of Bank Pekao S.A.

In accordance a submitted declaration Mr. Stefano Santini is not listed in the Insolvent Debtors Register maintained in accordance with the Act on the National Court Register (KRS).

Legal base:

§ 5.1 p. 21 of the Ordinance of the Minister of Finance of 19th February 2009 on current and periodic information published by issuers of securities and the conditions for regarding information required by the law of a non-member state as equivalent. (Journal of Laws No. 33, item 259)