UNOFFICIAL TRANSLATION

Bank Polska Kasa Opieki Spółka Akcyjna (the “Bank”) hereby informs that on 2 December 2024 the Bank and Powszechny Zakład Ubezpieczeń S.A. (the “PZU”, together with the Bank as the “Parties”) concluded a letter of intent regarding the reorganization of banking assets of PZU Group (respectively the “Reorganization”, the “Letter of intent”).

The intention of the Parties is to undertake further talks and actions to develop the target structure of the Reorganization, taking into account the interests of the Parties as well as their stakeholders, including minority shareholders. The purpose of the Reorganization is to achieve financial and management synergies that increase value for the shareholders of PZU and the Bank. Therefore, the Parties will analyze the optimal structure and implementation of the scenario, to the extent to which the Bank would participate in it. One of the considered scenarios assumes the Reorganization will involve a purchase of shares of Alior Bank S.A. by the Bank from PZU for cash.

Currently, the Parties have not yet made any binding decisions regarding potential purchase of shares of Alior Bank S.A. by the Bank from PZU. The Letter of intent does not have binding character for the Parties nor entails any obligation to conduct the Reorganization or implementation of any scenario.

Detailed conditions for carrying out the Reorganization will be specified in separate contracts or agreements, the content of which will be subject to further negotiations by the Parties after the selection of the final scenario.

The Bank maintains its intention to allocate 50-75% of the profit from 2024 to dividends, in line with the Bank's strategy, without excluding possibility of raising capital through the issue of capital bonds (AT1, Tier2).

The Bank will inform about subsequent important stages of the above process in separate current reports.

Legal basis: Article 17.1 of MAR – inside information