Report No. 9/2023

Legal basis:

Article 17.1 MAR Regulation

the Report:

The Management Board of PKO Bank Polski S.A. („the Bank”) informs that on 12 April 2023 it decided to submit to the Bank’s Annual General Meeting a recommendation on 2022 net profit  distribution in the amount of PLN 3,258,276,027.00 as following:

1. the amount of PLN 1,629,138,013.50 - to increase the reserve capital earmarked for the dividend, including interim dividend payments,

2. the amount of PLN 1,629,138,013.50 - to remain undistributed.

Additionally, the Bank’s Management Board recommends that the undistributed profit from previous years in the amount of PLN 7,808,836,372 should still remain as the undistributed profit.

When taking its decision, the Bank’s Management Board took into account the recommendation of the Polish Financial Supervision Authority (“PFSA”), of which the Bank informed in its report No. 6/2023.

The profit distribution recommended to the Bank’s Annual General Meeting will not preclude the Bank’s Management Board's potential decision to distribute profit to the shareholders in the form
of interim dividend and to use the reserve capital for that purpose provided that the authorisation to use this capital is granted by the Bank’s Annual General Meeting.

It will be contingent in particular on the positive opinion of the PFSA once the CJEU takes a decision on case C-520/21 as well as economic situation and market conditions.

The Bank’s Management Board's potential decision to pay an interim dividend will also require the approval of the Bank’s Supervisory Board.