Legal basis:

Article 17(1) of the MAR Regulation


the Report:

The Management Board of PKO Bank Polski S.A. (the „Bank”) hereby informs that on 27 February 2023, after having obtained the required corporate approvals, the Bank concluded a guarantee agreement with a counterparty providing for unfunded credit protection with respect of a portfolio of selected corporate exposures of the Bank, within the meaning of the Capital Requirements Regulation, CRR (the “Guarantee”).

The total value of the portfolio covered under the Guarantee amounts (after rounding) to PLN 12,292,093,783.67 and the portfolio comprises of a portfolio of bonds, with a value of (after rounding) PLN 1,514,728,643.14 (“Portfolio A”) and a portfolio of other exposures, with a value of (after rounding) PLN 10,777,365,140.53 (“Portfolio B”). The coverage ratio under the Guarantee is 100% - in respect of Portfolio A and 80% - in respect of Portfolio B, which means that the total amount of the Guarantee (after rounding) is PLN 10,136,620,755.54. The maximum time of coverage under the Guarantee is 60 months, however the Bank is entitled to unilaterally terminate the Guarantee prior to the expiry of this period.