With reference to current report No. 18/2024 of 8 May 2024 Bank Polska Kasa Opieki Spółka Akcyjna (the "Bank") informs that it has periodically verified the estimated cost related to the modification of PLN mortgage loan agreements granted to consumers due to their suspension loan repayments resulting from the amendment to the Act on crowdfunding for business ventures and assistance to borrowers (the "Act"), published in the Journal of Laws of 7 May 2024, item 696.

The Interim Condensed Separate Financial Statements of Bank Pekao S.A. for the first half of 2024 and the Interim Condensed Consolidated Financial Statements of Bank Pekao S.A. Group for the first half of 2024 will include the revaluation of the cost related to the modification of PLN mortgage loan agreements granted to consumers due to their suspension of loan repayments from approximately 513 million zlotys gross as indicated in current report No. 18/2024 to a level of approximately 234 million zlotys gross, which means a positive impact of the update of about 279 million zlotys gross. 

This item will increase the Bank and the Bank’s Capital Group result for the first half of 2024 and is mainly due to an update of estimated participation among eligible customers. Taking into account the participation criteria resulting from the Act and the observed level of interest in suspending repayment by the Bank's customers, the Bank estimated the participation among eligible customers at the level of approximately 21% of the volume of mortgage loans granted in Polish zloty, compared to the participation at the level of approximately 38% indicated in current report no. 18/2024.

Detailed information regarding the above event will be presented in the Consolidated semi-annual report of the Bank’s Capital Group for the first half of 2024, which is scheduled for publication on 8 August 2024.

This estimate will be periodically verified, in particular with regard to the assumed level of customer participation, and its update will be included in the current financial results.

Legal basis: Legal grounds: Art. 17 of (1) MAR – inside information