Report No. 46/2016

Legal basis – Article 17(1) MAR

The Management Board of Powszechna Kasa Oszczędności Bank Polski Spółka Akcyjna (“PKO Bank Polski” or the “Bank”) hereby announces that as a consequence of PKO Bank Polski having submitted its binding offer for the acquisition of 100% of the outstanding share capital in Raiffeisen-Leasing Polska S.A. (“RLPL”) from Raiffeisen Bank International AG (“RBI”), the Bank has entered into negotiations with RBI relating to the acquisition by the Bank (directly or indirectly) of 100% of the outstanding share capital in RLPL (the “Transaction”) by  concluding on 21 September 2016 an understanding with RBI regarding conducting negotiations on exclusive basis.

Entering into a legally binding documentation related to the Transaction or any other termination or conclusion of the negotiations related to the Transaction will be announced in a current report.

PKO Bank Polski informs also that entering into legally binding documentation related to the Transaction would lead to a lack of the Fulfilment the Dividend Conditions (as defined in the resolution No. 7/2016 of the Annual General Meeting of the Bank of 30 June 2016 on distribution of the profit earned by PKO Bank Polski in 2015 and unappropriated profit of previous years (the “Resolution on Profit Distribution”) that was announced by the Bank in current reports No. 34/2016 and 37/2016).