The non-public issue of subordinated bonds

UNOFFICAL TRANSLATION

9.05.2019 - Report 12/2019: Expression of consent by the Management Board of Bank Polska Kasa Opieki Spółka Akcyjna to the non-public issue of subordinated bonds

Bank Polska Kasa Opieki S.A. (the "Bank") hereby informs that on 9th May 2019 the Bank's Management Board adopted a resolution approving the issue of subordinated bonds by the Bank with a total nominal value not exceeding PLN 750,000,000 (in words: seven hundred fifty million zlotys) (the "Bonds"). After obtaining the approval of the Polish Financial Supervision Authority, the Bonds will be classified as Tier II capital instruments.

The nominal value of one Bond will be PLN 500,000 (in words: five hundred thousand zlotys). The detailed terms and conditions of the issue and the exact size of the issue of the Bonds will be determined at a later date, taking into account inter alia results of the book-building process among investors and the situation on the bond market.

The Bonds may be issued in one or more series. The offer of the Bonds will be carried out exclusively on the territory of Poland. The Bonds will be issued in accordance with Article 33 point 2 of the Act on Bonds dated 15 January 2015, and proposals for the purchase of the Bonds will be directed to no more than 149 individually defined addressees.

The considered time of the Bonds issue is the second quarter of 2019, subject to bond market conditions.

Legal basis: Article 17.1 of MAR - confidential information