Company Announcements

UNOFFICIAL TRANSLATION

29.11.2019 - Report 33/2019: Changes in the Management Board of the Bank

Bank Polska Kasa Opieki Spółka Akcyjna (the "Bank") hereby informs that on 29 November 2019 Mr. Michał Lehmann and Mr. Piotr Wetmański resigned from the function of, respectively, the Vice President of the Management Board of the Bank and a Member of the Management Board of the Bank and from the composition of the Management Board of the Bank. The resignations were submitted with immediate effect and did not contain the reasons for their submission.

The Supervisory Board of the Bank thanked Mr. Michał Lehmann and Mr. Piotr Wetmanski for their contribution to the Bank's development.

In addition, on 29 November 2019, the Supervisory Board of the Bank, after assessing suitability, appointed Mr. Marcin Gadomski to the Management Board of the Bank for the current joint term of office as the Vice President of the Management Board of the Bank. The Supervisory Board of the Bank, subject to obtaining the consent of the Polish Financial Supervision Authority and upon obtaining such consent, entrusted Mr. Marcin Gadomski with the function of the Vice President of the Management Board of the Bank supervising the management of material risk in the Bank's operations.

According to the submitted statement Mr. Marcin Gadomski does not conduct any business competitive to that of the Bank and he is not involved in a competitive business as a shareholder or partner in a civil law company or partnership or a member of a corporate body of a competitive corporation or legal person. According to the submitted statement Mr. Marcin Gadomski is not registered in the Register of Insolvent Debtors kept pursuant to the provisions of the KRS (National Court Register) Act of 20 August 1997.

The curriculum vitae of Mr. Marcin Gadomski  containing information specified in § 10 point 4 of the Ordinance of the Minister of Finance of 29 March 2018 regarding current and periodic information provided by issuers of securities and conditions for recognizing as equivalent information required by the laws of the state not being a member state, is an attachment to this current report.

Legal basis: § 5 points 4 and 5 of the Finance Minister's Ordinance of 29 March 2018 re. current and periodic reports published by the issuers of securities and the rules under which the information required by the laws of non-member states shall be deemed equivalent. (Journal of Laws 2018, item 757)

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Mr. Marcin Gadomski graduated from the Warsaw School of Economics, majoring in Finance and Banking. He was also a scholarship holder studying at the University of Kiel (Germany) and completed doctoral studies at the Warsaw School of Economics. He passed a number of professional certification exams, including: Financial Risk Manager (FRM), Association of Chartered Certified Accountants (ACCA), Project Management Professional (PMP). He participated in the Leadership Development Program run by The John Maxwell Team as well as the Deloitte Leadership Program.

Mr. Marcin Gadomski began his professional career at the consulting company Ernst & Young (now EY) in 2002, where he conducted projects in the area of risk, finance and internal audit in financial institutions and non-financial enterprises. During this period, for several years he supported the Pekao Group in implementing among others requirements of IAS 39, Basel II and solutions regarding capital management as well as assets and liabilities management.

Then he continued his career with Deloitte Advisory, first in 2008-2012 as a Senior Manager, and, after a break, in 2016-2018 as a Director. As part of Deloitte Advisory, Mr. Marcin Gadomski provided solutions for the largest financial institutions in Poland and abroad (banks, insurers, leasing companies, brokerage houses), among others in the field of credit policy, risk models, improving the credit process for retail and corporate clients, market and liquidity risk management, regulatory requirements (e.g. IFRS 9, PFSA/KNF recommendations, regulations regarding capital requirements, liquidity, information or reporting obligations), due diligences for takeover purposes.

In the years 2012 - 2016 Mr. Marcin Gadomski was the Director of Retail Credit Risk Unit at Bank Millennium. He was responsible for credit risk strategy, risk appetite, credit policy, credit assessment models, credit decision engines, risk reporting, credit product profitability assessment and credit process support for such business lines as unsecured consumer loans, mortgage loans and small business.

From August 2018 until November 2019 Mr. Marcin Gadomski was a Member of the Management Board of Pekao Bank Hipoteczny S.A., where on November 20, 2018 he obtained the consent of the Polish Financial Supervision Authority to entrust the function of a Member of the Management Board supervising the management of material risks in the bank's operations.