Report No. 29/2024

Legal basis:

Article 17 section 1 of Market Abuse Regulation 

the Report:

The Management Board of PKO Bank Polski S. A. (the “Bank”) announces that on 21 May 2024 Bank’s Supervisory Board adopted a resolution and gave positive opinion on recommended distribution of the profit earned by the Bank in 2023 and on leaving the undistributed profit undistributed.

The Bank’s Management Board recommended a decision to pay a dividend from the net profit for 2023 (after deduction of the interim dividend) in the amount of PLN 2.59 per share. It is proposed that the dividend date will be 8 August 2024 and the dividend payment date will be 22 August 2024.

Taking into account that on February 1, 2024, the Bank paid an interim dividend for the financial year 2023 in the amount of PLN 1,600,000,000, an amount of PLN 1,600,000,000 is allocated for distribution among shareholders in the form of dividend, apart from the Distributable Profit, from the reserve capital established on the basis of the resolution of the Bank’s Annual General Meeting on the distribution of the profit of PKO Bank Polski S.A. achieved in 2022, intended for the payment of dividends, including the interim dividend that has already been paid. The sum of these amounts is. PLN 4,837,500,000.

The remaining part of the profit achieved in 2023 in the amount of PLN 1,630,860,037.30 is recommended to be allocated to the reserve capital for the payment of dividends, including interim dividends in accordance with § 30 of the Bank's Articles of Association, which would provide for a possible decision of the Bank's Management Board to pay profit to shareholders as an interim dividend and to use the reserve capital for this purpose, subject to the authorization to use this capital granted by the Bank’s Annual General Meeting. Any decision of the Bank's Management Board to make an interim dividend payment also requires the approval of the Bank's Supervisory Board. Furthermore the payment of the interim dividend will depend on the Bank's positive position of the Polish Financial Supervision Authority (“PFSA”) and the current economic and market situation.

In addition, the Bank's Management Board recommended that the undistributed profit from previous years in the amount of PLN 9,437,974,386.73 remains undistributed profit.

In accordance with Article 395 § 5 point 2 of the Commercial Companies Code, the recommendation will be submitted for consideration by the Bank’s Annual General Meeting approving the financial statements for the financial year ending on the 31 December 2023.