UNOFFICIAL TRANSLATION

Bank Polska Kasa Opieki Spółka Akcyjna ("Bank") hereby announces that on March 29, 2021 the Management Board of the Bank adopted and the Supervisory Board of the Bank approved the Bank's Strategy for the years 2021-2024 "Reliable Bank. Modern banking” (“Strategy”).

The main strategic goals in the perspective of 2024 are as follows:
• achieving the return on equity (ROE) at the level of ~10%,
• reduction of the cost to income ratio (C/I) to the level of about 42%,
• reaching 3.2 million active mobile banking customers.

The vision of the Bank 2024 is built on the continuation of the 90-year legacy of developing the second bank in Poland in the formula of a universal bank, which is a financial institution of the first choice, serving in an integrated manner all customer segments, i.e. individual and private customers, enterprises and corporations and also caring for the highest quality standards and efficiency. Shareholder value will be created through responsible business development and growth in the most profitable segments, efficiency improvement and actions for sustainable social and economic development (ESG).

Bank's strategic directions translate into 4 pillars:
• Client
• Growth
• Efficiency
• Responsibility

Pillar “Client”. The Bank will put the customer and his needs at the center of all its activities, therefore it intends to intensively develop digital channels as well as fast and convenient service processes. The Bank will make even greater use of advanced data analytics and modern tools supporting sales in order to personalize the offer and improve customer satisfaction.

Pillar “Growth”. The Bank will focus on business growth in the most profitable market segments, product groups and areas of untapped potential, which will bring improved profitability, i.e. consumer finance, microbusiness, SME and MID enterprises. In addition, the Bank will strive to increase the share of young clients in the individual customer base, strengthen its position in the e-commerce payments market and greater leverage relationship with the PZU Group.

Pillar “Efficiency”. In times of strong pressure on the profitability of the banking sector, the ability to effectively manage costs and process excellence has become even more important, which is why the Bank will focus on technological transformation and improvement of efficiency of operations, will accelerate digitization and migration of processes to remote channels and optimize credit processes.

Pillar “Responsibility”. The Bank intends to continue its responsible approach to risk and capital management and will pay greater attention to the environmental, social and corporate governance (ESG) factors in its daily commercial and operational activities. The Bank will also support the development of the economy with the participation of corporate clients.
The objective of growth and improvement of efficiency is to achieve one of the highest ROE ratios in the Polish banking sector by 2024. The strong capital position of the Bank will support the implementation of the planned growth and dividend policy.

The Bank's ambition is to rank among the most profitable and effective banks in Poland.

Attached to this report, the Bank provides a detailed presentation of the Strategy.

The assumptions and objectives of the Strategy do not constitute a forecast or estimate of results (including financial results) and relate only to the intended directions of the Bank's activities in the years 2021-2024.

Legal basis:
Article 17 (1) of MAR - inside information