Report No. 18/2015

Legal basis:

Art. 56 section 1 point 1 of the Act of 29 July 2005 on the Public Offering, the Conditions Governing the Introduction of Financial Instruments to Organised Trading, and on Public Companies in connection with Article 154 of the Act on Trading in Financial Instruments of 29 July 2005

Content of the report:

Referring to the report No. 15/2015 dated 31 March 2015 the Management Board of Powszechna Kasa Oszczędności Bank Polski Spółka Akcyjna (“PKO Bank Polski” or the “Bank”) hereby informs that as a consequence of receiving from the Polish Financial Supervision Authority (“PFSA”) the recommendation to withhold the entire net profit earned by PKO Bank Polski for the period from 1 January 2014 till 31 December 2014  - until the supervision authority determines the additional capital requirement for the Bank (“Recommendation of the PFSA”) the Bank’s Supervisory Board adopted the resolution on going by the Recommendation of the PFSA in the scope concerning the Supervisory Board’s competences.

The Bank also informs that according to article 395 §2.2 of the commercial companies code the decision of the net profit distribution is determined by the Annual General Meeting.