Legal basis: Paragraph 5.1.22 of the Regulation of the Minister of Finance dated 19 February 2009 on current and periodic information published by issuers of securities and on the conditions under which such information may be recognized as being equivalent to information required by the regulations of law of a state which is not a member state The report: The Management Board of Powszechna Kasa Oszczędności Bank Polski Spółka Akcyjna (“PKO Bank Polski SA”) hereby informs that on 2 March 2011 Mr. Zbigniew Jagiełło has been re-elected by the Supervisory Board to the position of the President of PKO Bank Polski SA Management Board for the joint term of office of the board which will start at the day of the PKO Bank Polski SA Ordinary General Meeting approving the financial statements of the PKO Bank Polski SA for 2010. Information about the appointed President of the PKO Bank Polski SA Management Board: Zbigniew Jagiełło (born in 1964) is a graduate of the Faculty of Information Technology and Management of Wrocław School of Technology and Executive MBA conducted by Gdańska Fundacja Kształcenia Menedżerów (Gdańsk Foundation for Education of Managers), University of Gdańsk and Rotterdam School of Management Erasmus University. Since 1995, he is professionally connected to the Polish financial market. He started his career at Pioneer Pierwsze Polskie Towarzystwo Funduszy Inwestycyjnych S.A., managing the Wrocław regional office. At the end of 1996, he moved to Warsaw, where he was one of the builders of PKO/Credit Suisse TFI S.A., first as a sales and distribution director, and since 1998, as the Vice-President of the Management Board. Within 4 years, he created as part of the PKO BP bank the first Polish banking investment funds distribution network. In July 2000 he took the position of the President of the Management Board of Pekao/Alliance Towarzystwo Funduszy Inwestycyjnych S.A., which in mid-2001, as a result of a merger with Pioneer Pierwsze Polskie Towarzystwo Funduszy Inwestycyjnych S.A., changed finally its name to Pioneer Pekao Towarzystwo Funduszy Inwestycyjnych S.A. While a President of the Management Board, Zbigniew Jagiełło supervised the creation of distribution network of investment funds at the Pekao S.A. bank, maintaining and strengthening the position of Pekao TFI S.A. as a market leader. At the same time, since 2005 he had the function of President of the Management Board of Pioneer Pekao Investment Management S.A. and Head of the Supervisory Board of Pekao Financial Services Sp. z o.o. In the global structure of Pioneer Investments, he had the function of Head of Distribution win Central and Eastern Europe Region (CEE), supervising the distribution, and marketing operations and contacts with corporate customers and product development. He also was a member of Supervisory Boards of companies of the Pioneer Investments group in Czech Republic, Romania and Hungary. Zbigniew Jagiełło is also actively involved in the development and promotion of high standards of the financial market in Poland. Among others, he headed the Board of the Chamber of Funds and Assets Managers. For his achievements, he became the Laureate of the "Rzeczpospolita" Eagle for 2007, as well as a winner of the competition "Polish Business Leader 2007" organised by the Business Center Club. Zbigniew Jagiełło has also been awarded by the President of the Republic of Poland with a with the Bachelor's Cross of the Order of the Revival of Poland and awarded with the Social Solidarity Medal for promoting the idea of corporate social responsibility. Mr. Zbigniew Jagiełło is the President of the Bank Management Board from 1 October 2009. Mr. Zbigniew Jagiełło has not been entered into the Register of Insolvent Debtors maintained pursuant to the Act on the National Court Register. Mr. Zbigniew Jagiełło does not conduct any business competing with that of the PKO Bank Polski SA.
