Report No. 49/2024

Legal basis:

Article 17.1 of MAR – confidential information

The report:

The Management Board of PKO Bank Polski S.A. (the “Bank”) announces that on 21 August 2024 it adopted the resolution on the issue of the subordinated capital bonds referred to in Article 27a(1)(b) of the Act of 15 January 2015 on the Bonds, with the total nominal value not more than PLN 2,000,000,000 (the “Bonds”), with a ten-year maturity and the possibility of early redemption on the terms set out in the terms and conditions of the Bonds.

The Bonds will be issued in a manner not requiring drawing up of prospectus within the Programme for the issue of own bonds on the domestic market, the establishment of which was announced by the Bank in the report no. 32/2011 (as further amended).

Once the approval from the Polish Financial Supervision Authority is received, the proceeds resulting from the Bonds will, according to Article 127(1) and 127(2) of the Banking Act of 29 August 1997 (as amended), be qualified as Tier II instruments in accordance with Article 63 of the Regulation (EU) No. 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and amending Regulation (EU) No 648/2012.

The nominal value of one bond shall be no less then PLN 500,000. The Bonds will bear interest at a variable rate plus a margin determined during the bookbuilding process in six-month interest periods.

The final decision on the terms and date of the issuance of the Bonds will depend on market conditions.