Legal basis: Paragraph 5.1.3 of the Regulation of the Minister of Finance of 19 February 2009 on current and periodic information published by issuers of securities and the conditions for concerning information required by the law of a non-member state as equivalent. The report: The Management Board of Powszechna Kasa Oszczędności Bank Polski Spółka Akcyjna (“PKO Bank Polski SA” or “the Bank”) hereby informs that, in accordance with the syndicated loan agreement (“Syndicated Loan Agreement”), referred to in the Current Report No. 37/2011 of 30 June 2011, the consortium of banks, including PKO Bank Polski SA, on 3 November 2011 signed with a Client of the Bank (“the Client”) an annex under which an additional tranche of the investment loan in the amount of 1,753,000.000 zl (in words: one billion seven hundred fifty three million zloty) was introduced (“Additional Tranche”). As the result of a syndication process arranged by the existing lenders of the Additional Tranche, on 3 November 2011 PKO Bank Polski SA signed with a group of banks a global certificate agreement (“Global Certificate Agreement”) which resulted in an increase of the commitment according to the agreement on providing financing for the Client. Under the Global Certificate Agreement, PKO Bank Polski SA entered, as of 3 November 2011, into the rights and obligations of the lenders of the Additional Tranche in the amount of 400,000,000 zl (in words: four hundred million zloty). At the same time, the Management Board of the Bank informs that the share of PKO Bank Polski SA in other tranches provided for under the Syndicated Loan Agreement was reduced from 1,200,000,000 zl (in words: one billion two hundred million zloty) to 1,000,000,000 zl (in words: one billion zloty). The loan term under the Additional Tranche is up to 84 months from the date of the first drawdown of the Additional Tranche. The interest rate of the Additional Tranche is based on WIBOR rate, plus the Bank’s margin. The margin level for the Additional Tranche is dependent on a selected financial indicator of the Client. The claim under the Additional Tranche was secured on a pari passu basis (i.e. equivalent rights) with the other tranches under the Syndicated Loan Agreement. Signing of the annex to the Syndicated Loan Agreement followed by signing of the Global Certificate Agreement in connection with the Syndicated Loan Agreement constitutes grounds for the requirement to disclose the entering by the Bank into a significant agreement, since the total value of the services under agreements concluded by the Bank with the Client of the Bank meets the criteria referred to in Paragraph 2.1.44 letter a) in connection with Paragraph 2.2 of the Regulation of the Minister of Finance of 19 February 2009 on current and periodic information published by issuers of securities and the conditions for concerning information required by the law of a non-member state as equivalent. Total value of the Bank's involvement related to the loan agreements concluded by the Bank with the Client and its subsidiaries within last 12 months is 3,658,000,000 zl (in words: three billion six hundred fifty eight million zloty), and on net basis, taking into account amount of money (deposit) paid into the Bank's account, pursuant to Article 102 of the Banking Law Act of 29 August 1997, is 1,400,000,000 zl (in words: one billion four hundred million zloty) which gives an increase by 200,000,000 zl (in words: two hundred million zloty) comparing to the amount referred to in the Current Report No. 37/2011 of 30 June 2011. The Agreements on Opening Letters of Credit (referred to in the Current Report No. 37/2011) are agreements of the highest value out of all agreements concluded by the Bank with the Client within 12 months prior to signing the annex to the Syndicated Loan Agreement.
