UNOFFICIAL TRANSLATION

Changes in the Management Board of the Bank

Bank Polska Kasa Opieki Spółka Akcyjna (the „Bank”) hereby informs that on 21 April 2020, the Supervisory Board of the Bank, after assessing suitability, appointed, as of 22 April 2020, Mr. Leszek Skiba, the current Vice President of the Management Board of the Bank, as the President of the Management Board of the Bank for the current joint term of office, subject to obtaining the consent of the Polish Financial Supervision Authority and upon obtaining such consent. Until the above condition is met, on which the appointment of Mr. Leszek Skiba as the President of the Management Board of the Bank depends, the Supervisory Board of the Bank entrusted him with managing the work of the Management Board of the Bank.

In addition on 21 April 2020 Mr. Marek Lusztyn resigned, in an agreement with the Supervisory Board of the Bank, from the position of the President of the Management Board of the Bank, without resigning from the composition of the Management Board of the Bank. In the resignation there were no reasons for its submission. Simultaneously, the Supervisory Board of the Bank, after assessing suitability, entrusted Mr. Marek Lusztyn with the function of the Vice President of the Management Board of the Bank and, subject to obtaining the consent of the Polish Financial Supervision Authority and upon obtaining such consent, entrusted Mr. Marek Lusztyn with the function of the Vice President of the Management Board of the Bank supervising the management of material risk in the Bank's operations.

The Bank also informs that on 21 April 2020, the Supervisory Board of the Bank, after assessing suitability, appointed Mr. Krzysztof Kozłowski to the Management Board of the Bank for the current joint term of office as the Vice President of the Management Board of the Bank, with the effect from 22 April 2020.

In addition, on 21 April 2020, Mr. Marcin Gadomski resigned from the function of the Vice President of the Management Board of the Bank and from the composition of the Management Board of the Bank. The resignation did not include the reason for its submission. Mr. Marcin Gadomski remains an employee of the Bank.

According to the submitted statement Mr. Leszek Skiba does not conduct any business competitive to that of the Bank and he is not involved in a competitive business as a shareholder or partner in a civil law company, a partnership or a corporation or a member of a corporate body of a legal person. Mr. Leszek Skiba is not registered in the Register of Insolvent Debtors kept pursuant to the provisions of the KRS (National Court Register) Act of 20 August 1997.

According to the submitted statement Mr. Marek Lusztyn does not conduct any business competitive to that of the Bank and he is not involved in a competitive business as a shareholder or partner in a civil law company, a partnership or a corporation or a member of a corporate body of a legal person. Mr. Marek Lusztyn is not registered in the Register of Insolvent Debtors kept pursuant to the provisions of the KRS (National Court Register) Act of 20 August 1997.

According to the submitted statement Mr. Krzysztof Kozłowski does not conduct any business competitive to that of the Bank and he is not involved in a competitive business as a shareholder or partner in a civil law company, a partnership or a corporation or a member of a corporate body of a legal person. Mr. Krzysztof Kozłowski is not registered in the Register of Insolvent Debtors kept pursuant to the provisions of the KRS (National Court Register) Act of 20 August 1997.

The curricula vitae of Mr. Leszek Skiba, Mr. Marek Lusztyn and Mr. Krzysztof Kozłowski containing information specified in § 10 point 4 of the Ordinance of the Minister of Finance of 29 March 2018 regarding current and periodic information provided by issuers of securities and conditions for recognizing as equivalent information required by the laws of the state not being a member state, are attachments to this current report.

Legal basis: § 5 point 4 and 5 of the Finance Minister's Ordinance of 29 March 2018 regarding current and periodic information provided by the issuers of securities and conditions of recognizing as equivalent information required by the laws of the state not being a member state