UNOFFICIAL TRANSLATION

Bank Polska Kasa Opieki Spółka Akcyjna (the „Bank”) with reference to the current report dated 26 June 2025 No. 32/2025 regarding the establishment with Powszechny Zakład Ubezpieczeń S.A. (the “PZU”, hereinafter collectively with PZU known as the “Parties”) of the principles of cooperation between  the Parties (“Term Sheet”) in order of prepare and execute, subject to appropriate legislative changes: (i)  the demerger of PZU leading to a separation of PZU’s business operations (including insurance and reinsurance) into a wholly owned by PZU holding subsidiary, and then (ii) PZU, as the target company, will be merged with and into the Bank as the acquiring company (the “Potential Transaction”) hereby announces that on 19 December 2025, the Parties agreed on amendments to the Term Sheet (the “Amendment”).

As provided in the Amendment an intention of the Parties is to close the Potential Transaction to 31 December 2027. Moreover, the Amendment provides that the Term Sheet shall cease to be in force, in particular, if the legislative changes specified by the Parties enabling the execution of the Potential Transaction are not published in the Journal of Laws by the end of December 2026, and do not enter into force by the end of April 2027. 

Legal basis: Article 17 Section 1 of the MAR – inside information.