FINANCIAL RESULTS 3Q 2016 Solid results towards full year plan delivery

FINANCIAL RESULTS 3Q 2016 Solid results towards full year plan delivery Warsaw, 10.11.2016

Disclaimer This presentation (the Presentation ) has been prepared by Bank Polska Kasa Opieki Spółka Akcyjna ( Bank ) for the clients, shareholders and financial analysts. This presentation should not be treated as an offer or invitation to purchase any securities or financial instruments or as an advice or recommendation in respect to such securities or financial instruments. The presented data are only general information and does not refer to the offered by the Bank products or services. In order to take advantage of the services and products of the Bank, one should be thoroughly familiar with the characteristics of the particular service or product, its rules, risk and legal and tax consequences of the use of particular service or product. The strategy presented in this presentation contains goals which are the ambition of the Management Board and do not constitute any financial results forecast. Rights for the Presentation as a whole are entitled to the Bank. Presentation is a subject to the protection provided by the law, in particular: the Act dated on February 4th, 1994 on Copyright and Related Rights (consolidated text in Journal. Laws of 2006, No. 90, item. 631, as amended); the Act dated on July 27th, 2001 on the Databases protection(journal of Laws No. 128, item. 1402, as amended); the Act dated on April 16, 1993 on Combating Unfair Competition (consolidated text in Journal of Laws of 2003, No. 153, item 1503, as amended) and the Act dated on June 30, 2000 on Industrial Property Law (consolidated text in Journal. Laws of 2003, No. 119, item. 1117 as amended). This presentation may include forward looking statements, Bank s outlook for the future, future plans and strategies or anticipated events that are not historical facts. Since these statements are based on assumptions, expectations, projections and provisional data about future events, the content is inherently uncertain. Factors that could cause or contribute to differences in current expectations include, but are not limited to: (i) general economic conditions, among which the economic conditions of the business areas and the markets in which Bank and its subsidiaries operate, (ii) the performance of financial markets (iii) changes in laws or regulations and (iv) general competitive conditions locally, regionally, nationally and/or internationally. The Bank does not undertake to publish any updates, modifications or revisions of the information, data or statements contained herein should there be any change in the strategy or intentions of the Bank, or should facts or events occur that affect the Bank s strategy or intentions, unless such reporting obligations arises under applicable laws and regulations. Bank, nor any of its representatives shall not be responsible for any loss or damage it may arise from the use of this Presentation or of any information contained herein or otherwise arising in connection to this Presentation. This presentation is not for the distribution, in or into countries where the public dissemination of the information contained herein may be restricted or prohibited by law. 1

9M16 highlights Net profit after nine months of PLN 1 785m, in line with 2016 plan, NII growing by 5.3% yoy thanks to volumes and further improvement of NIM to 2.81% in Q3, Continuation of asset mix improvement with key retail lending confirming double digit pace, Operational efficiency and effective risk management confirmed. 2

Net profit PLNm -14.7% +5.1% -3.8% +13.6% 610 521 1 854 1 785 3Q 15 3Q 16 9M 15 9M 16 Nine months net profit at PLN 1 785m, -3.8% yoy (excluding banking tax +13.6% yoy) with Q3 at PLN 521m. ROE at 10.2% with Core Tier I at 18.1%. 3 - dynamic excluding impact of new banking tax; PLN 322m for 9M 2016

Gross operating profit PLNm +6.8% +10.4% 900 962 2 870 3 168 3Q 15 3Q 16 9M 15 9M 16 Double digit growth in nine months operating profit +10.4% yoy, supported by good Q3 performance. 4

Operating income PLNm +2.7% +5.6% 1 709 153 1 755 148 5 291 683 5 586 858 1 555 +3.3% +2.6% 1 607 4 608 4 728 3Q 15 3Q 16 9M 15 9M 16 Core operating income Other Nine months core operating income up by +2.6% yoy thanks to contribution of Q3 results (+3.3% yoy). Total operating income after 9 months at PLN 5 586m, +5.6% yoy. 5

Net interest income and net interest margin Net interest income (PLNm) Net interest margin +6.7% 1 048 1 117 2,73% 2,73% 2,75% 2,80% 2,81% 3Q 15 3Q 16 +5.3% 3 106 3 269 3Q 15 4Q 15 1Q 16 2Q 16 3Q 16 9M 15 9M 16 Nine months NII at PLN 3 269m, +5.3% yoy, driven by customer volumes. Continuation of NIM improvement to 2.81% in Q3 thanks to cost of deposits and retail lending. 6

Loans Retail loans (PLNm) Corporate loans (PLNm) +10.5% +1.8% +2.7% +1.2% 45 516 48 972 50 310 44 034 44 296 44 845 24 528 25 995 25 565 6 912 6 764 6 514 Sep 15 Jun 16 Sep 16 Sep 15 Jun 16 Sep 16 Key retail loans Other retail loans Key corporate loans Other corporate loans (*) Solid growth in key retail lending +10.5% yoy and +2.7% qoq. Key corporate lending +1.8% yoy and +1.2% qoq while preserving margin target 7 (*) excl. BSB and reverse repo transactions

New key retail lending New loans volumes (mln PLN) PLN mortgage stock market share 3 518 1 849 +12% 3 923 1 865 17.7% 18.1% 1 668 2 058 3Q 15 3Q 16 Consumer Loans PLN Mortgage Loans Sep 15 Sep 16 PLN 3.9bn in new retail loans in the third quarter driven by record level of consumer loans and continuously solid PLN mortgages origination. 8

Savings Retail savings (PLNm) Corporate deposits (*) (PLNm) +11.5% -10.4% -0.9% +0.8% 60 639 68 174 67 590 67 630 60 101 60 582 16 936 16 751 16 140 Sep 15 Jun 16 Sep 16 Sep 15 Jun 16 Sep 16 Retail deposits MF Double-digit growth in retail deposits +11.5% yoy. Corporate deposits dynamic reflecting tactical approach in safe liquidity management. 9 (*) excl. SBB and repo transactions

Net fees and commissions PLNm -3.4% +0.1% 411 396 1 195 1 196 101 100 275 279 127 124 371 389 183 172 549 528 3Q 15 3Q 16-3.8% 9M 15 9M 16-14.4% 97 94 306 262 Other Lending Cards Capital Markets Nine months banking fees and commission up 0.1% yoy with lending and card fees offsetting pressure on other fees. Capital markets down by 14.4% affected by industry-wide pressure, gradually improving q/q dynamic in comparison with previous quarters. 10

Operating costs PLNm Cost -1.8% 808 794 82 85 242 239-0.1% 2 421 2 418 247 257 738 748 485 470 1 437 1 414 BFG+ banking tax Cost incl. BFG, banking tax 3Q 15 3Q 16 68 186 877 980 9M 15 9M 16 206 518 2 627 2 937 Personnel costs Non-personel costs Depreciation Nine months operating costs PLN at 2 418m, -0.1% yoy, C/I at 43.3%. Regulatory charges at PLN 518m. 11

Assets quality Loans (PLNm) 6.7% 6.4% 6.4% 8 093 8 030 8 105 112 260 117 517 118 638 Cost of risk Sep 15 Jun16 Sep 16 NPL Performing NPL ratio Provision coverage ratio 0.49% 0.47% 0.48% 3Q 15 2Q 16 3Q 16 70.8% 74.2% 74.3% Sep 15 Jun 16 Sep 16 Cost of risk at 48 bp. NPL ratio at 6.4%, coverage ratio at 74.3%. 12 Note: Performing loans excl. BSB and reverse repo transactions

Conclusions 9 months net profit of PLN 1 785m, +13.6% on comparable bases, on a track to 2016 plan delivery, Strong commercial development driven by double digit key retail volumes and progressing NIM improvement, Operational and risks costs under control, improving further bank efficiency, Solid performance, healthy and effective business model based on sustainable revenues, improving our market position and reinforcing our track record in value creation. 13

AGENDA Appendix 14

Polish economy outlook 2016 2015 2016F GDP, % y/y 3.9 2.7 Consumption, % y/y 3.2 3.6 Investments, % y/y 6.1-4.9 Unemployment, % eop 9.8 8.5 CPI, % avg -0.9-0.7 3M Wibor, % avg 1.72 1.70 Reference rate, % eop 1.50 1.50 Exchange rate EUR, eop 4.26 4.30 Exchange rate USD, eop 3.90 3.94 Public sector balance, % GDP -2.6-2.8 Note: Internal macroeconomic scenario 15

Polish banking sector outlook 2016 2015 2016F (2) Loans, % y/y 6.8 3,1 Retail, % y/y 6.6 3,7 Mortgage loans PLN 10.4 6,8 Consumer loans (1) 6.8 5,8 Corporate, % y/y 8.1 5,9 SME loans 7,0 4,0 Savings (3),% y/y 7,6 6,9 Deposits, % y/y 7.4 7,6 Retail, % y/y 9.4 9,9 Corporate, % y/y 10.3 8,7 Mutual Funds (4),% y/y 8,9 0,0 16 (1) all non-mortgage retail loans (2) Internal scenario (3) deposits + assets in mutual funds dedicated to retail cliens (4) assets in mutual funds dedicated to retail clients

17 Polish economy trends Key parameters (1) GDP (% YoY) FIXED INVESTMENTS (% YoY) 1,9 1,5 7,7 7,3 6,9 6,9 8 3,7 5,5 4,9 1,9 2,7 2,1 4,2 3,6 4 4,8 0,9 0,1 4,8 4,9 5 2,3 3,3 0 0,5 5,3 6 1,8 2,6 3,3 3,3 3,3 3,3 3,6 3,1 3,4 4,3 3 3,1 2,8 5,4 7,8 10,4 9,6 4 6,7 2-0,7-4,7-2,9 24,0 22,6 0,7 0,1 2,5-0,1-3,2-4,9-2,5-3,5-0,2 0,3 12,0 9,6 9,79,7 11,8 5,8 4,4 4,4-1,8 0-9,3 5,0 5,3 19,2 15,9 13,014,5 0,0-4,9-6,0-2 -4 1Q 07 2Q 07 3Q 07 4Q 07 1Q 08 2Q 08 3Q 08 4Q 08 1Q 09 2Q 09 3Q 09 4Q 09 1Q 10 2Q 10 3Q 10 4Q10 1Q11 2Q 11 3Q 11 4Q 11 1Q 12 2Q 12 3Q 12 4Q 12 1Q13 2Q13 3Q 13 4Q 13 1Q 14 2Q 14 3Q 14 4Q 14 1Q 15 2Q 15 3Q 15 4Q 15 1Q 16 2Q 16 3Q 16 1Q 07 2Q 07 3Q 07 4Q 07 1Q 08 2Q 08 3Q 08 4Q 08 1Q 09 2Q 09 3Q 09 4Q 09 1Q 10 2Q 10 3Q 10 4Q 10 1Q 11 2Q 11 3Q 11 4Q 11 1Q 12 2Q 12 3Q 12 4Q 12 1Q 13 2Q 13 3Q 13 4Q 13 1Q 14 2Q 14 3Q 14 4Q 14 1Q 15 2Q 15 3Q 15 4Q 15 1Q 16 2Q 16 3Q 16 GDP Pr Consumption contribution Net export contribution Investment contribution TRADE BALANCE ACCOUNT (bln EUR) PRIVATE CONSUMPTION (% YoY) 8,2 6,3 4,9 5,9 4 6 6,4 2,6 3,6 3,2 6 5,8 1,7 2,7 2,6 3,1 3,7 0,8 2,4 2,1 0,2 0 0,2 3,6 3,3-0,5 0,7 0,7 2,3 2,9 2,3 2,8 3,13,13,1 3 3,23,3 3,8-3,3-4,1-3,8-5,2-5,9-4,6-6,5-1,6-2,1-2,3-2,0-3,1-3,5-4,1-2,5-3,3-3,4-2,8-2,2-1,2 0,5-1,9-1,1 0,3-0,1-0,8-0,4-1,2 0,3-0,7 1,6 1,0 1,01,4-0,7 1Q 07 2Q 07 3Q 07 4Q 07 1Q 08 2Q 08 3Q 08 4Q 08 1Q 09 2Q 09 3Q 09 4Q 09 1Q 10 2Q 10 3Q 10 4Q10 1Q11 2Q 11 3Q 11 4Q 11 1Q 12 2Q 12 3Q 12 4Q 12 1Q 13 2Q 13 3Q 13 4Q 13 1Q 14 2Q 14 3Q 14 4Q 14 1Q 15 2Q 15 3Q 15 4Q 15 1Q 16 2Q 16 3Q 16 1Q 07 2Q 07 3Q 07 4Q 07 1Q 08 2Q 08 3Q 08 4Q 08 1Q 09 2Q 09 3Q 09 4Q 09 1Q 10 2Q 10 3Q 10 4Q 10 1Q 11 2Q 11 3Q 11 4Q 11 1Q 12 2Q 12 3Q 12 4Q 12 1Q 13 2Q 13 3Q 13 4Q 13 1Q 14 2Q 14 3Q 14 4Q 14 1Q 15 2Q 15 3Q 15 4Q 15 1Q 16 2Q 16 3Q 16 Source: Central Statistical Office; March 2007 September 2016

18 Polish economy trends Key parameters (2) CORPORATE EMPLOYMENT (ths. eop) 5 800,00 5 700,00 5 600,00 5 500,00 5 400,00 5 300,00 5 200,00 5 100,00 5 000,00 4 900,00 4 800,00 1Q 07 2Q 07 3Q 07 4Q 07 1Q 08 2Q 08 3Q 08 4Q 08 1Q 09 2Q 09 3Q 09 4Q 09 1Q 10 2Q 10 3Q 10 4Q10 1Q 11 2Q 11 3Q 11 4Q 11 1Q 12 2Q 12 3Q 12 4Q 12 1Q 13 2Q 13 3Q 13 4Q 13 1Q 14 2Q 14 3Q 14 4Q 14 1Q 15 2Q 15 3Q 15 4Q 15 1Q 16 2Q 16 3Q 16 UNEMPLOYMENT (%) AVERAGE CORPORATE WAGES (% YoY) 7,8 8,99,8 10,1 11,8 12,0 7,8 11,0 5,4 6,3 3,5 3,43,6 2,7 3,8 3,3 4,3 4,35,25,3 3,8 5,4 4,6 2,3 2,6 2,0 2,23,03,0 4,1 4,1 3,5 3,4 3,9 3,13,6 3,43,74,4 4,2 4Q 06 1Q 07 2Q 07 3Q 07 4Q 07 1Q 08 2Q 08 3Q 08 4Q 08 1Q 09 2Q 09 3Q 09 4Q 09 1Q 10 2Q 10 3Q 10 4Q10 1Q 11 2Q 11 3Q 11 4Q 11 1Q 12 2Q 12 3Q 12 4Q 12 1Q 13 2Q 13 3Q 13 4Q 13 1Q 14 2Q 14 3Q 14 4Q 14 1Q 15 2Q 15 3Q 15 4Q 15 1Q 16 2Q 16 3Q 16 Avg. Corporate Wages CPI RETAIL SALES (real terms, % YoY) 17,4 14,0 12,8 16,1 12,1 11,8 4,8 1,0 1,0 8,4 3,6 4,7 0,3 1,1 2,9 7,3 6,0 8,8 7,1 6,98,4 2,7 1,9-2,00,01,5 3,9 4,25,5 5,1 2,6 3,74,2 3,5 2,84,84,4 5,7 5,9 1Q 07 2Q 07 3Q 07 4Q 07 1Q 08 2Q 08 3Q 08 4Q 08 1Q 09 2Q 09 3Q 09 4Q 09 1Q 10 2Q 10 3Q 10 4Q10 1Q 11 2Q 11 3Q 11 4Q 11 1Q 12 2Q 12 3Q 12 4Q 12 1Q 13 2Q 13 3Q 13 4Q 13 1Q 14 2Q 14 3Q 14 4Q 14 1Q 15 2Q 15 3Q 15 4Q 15 1Q 16 2Q 16 3Q 16 9,4 8,9 12,3 11,6 11,2 10,9 9,5 14,3 11,1 10,610,9 12,1 11,7 11,5 13,0 12,4 11,9 11,8 13,3 12,5 13,3 13,4 12,3 12,4 11,5 14,3 13,2 13,013,4 13,5 12,0 10,2 11,4 11,5 9,7 9,79,9 8,7 8,3 1Q 07 2Q 07 3Q 07 4Q 07 1Q 08 2Q 08 3Q 08 4Q 08 1Q 09 2Q 09 3Q 09 4Q 09 1Q 10 2Q 10 3Q 10 4Q10 1Q 11 2Q 11 3Q 11 4Q 11 1Q 12 2Q 12 3Q 12 4Q 12 1Q 13 2Q 13 3Q 13 4Q 13 1Q 14 2Q 14 3Q 14 4Q 14 1Q 15 2Q 15 3Q 15 4Q 15 1Q 16 2Q 16 3Q 16 Source: Central Statistical Office; March 2007 September 2016

1Q 07 2Q 07 3Q 07 4Q 07 1Q 08 2Q 08 3Q 08 4Q 08 1Q 09 2Q 09 3Q 09 4Q 09 1Q 10 2Q 10 3Q 10 4Q10 1Q 11 2,0 2,4 3,2 3,7 3,6 3,3 3,0 2,2 2,2 2,9 3,5 4,7 4,3 4,1 3,9 4,1 4,3 4,2 4,4 4,2 4,2 4,0 3,8 4,7 5,9 5,7 5,1 6,6 6,7 6,2 2Q 11 3Q 11 4Q 11 1Q 12 2Q 12 3Q 12 4Q 12 2,9 3,9 3,8 4,6 4,1 4,6 4,1 4,0 4,9 4,7 4,2 5,1 4,9 5,0 4,8 1Q 13 2Q 13 3Q 13 4Q 13 1Q 14 2Q 14 3Q 14 4Q 14 1Q 15 2Q 15 3Q 15 4Q 15 1Q 16 2Q 16 3Q 16 0,3-0,3-0,7-1,5-0,9-0,7-0,5-0,9-0,8-0,8 1,3 0,5 0,7 0,6 1,1 2,3 2,7 2,7 2,7 2,7 2,7 1,9 1,7 1,7 1,7 1,7 1,7 1,7 3,4 4,1 19 Polish economy trends Key parameters (3) EXCHANGE RATES INFLATION, INTEREST RATES Source: NBP CPI REF. RATE 3M WIBOR

20 Banking sector trends Key parameters - yoy (4) HOUSEHOLDS AND CORPORATE LENDING (% YoY) HOUSEHOLDS AND CORPORATE DEPOSITS (% YoY) 51 45 41 38 33 28 31 26 24 21 14 13 14 11 8 1 2 3 1-4 Households Corporate 19 18 12 14 15 15 12 10 8 9 4 0 3 4 5 5 7 8 5 6 8 8 9 8 7 5 5 3 6 7 5 5 2 2 0 0 2 9 6 4 7-4 31 26 21 16 11 6 1-4 26 24 25 26 17 14 10 11 9 4 2-2 -2 1 15 14 12 13 13 10 10 12 8 2 2 Households Corporate 8 9 11 10 11 11 12 12 8 6 6 5 6 7 9 10 7 7 8 9 10 9 5 5 9 9 7 5 10 9-1 -8-9 -9 4Q 02 4Q 03 4Q 04 4Q 05 4Q 06 4Q 07 4Q 08 4Q 09 4Q 10 4Q 11 1Q 12 2Q 12 3Q 12 4Q 12 1Q 13 2Q 13 3Q 13 4Q 13 1Q 14 2Q 14 3Q 14 4Q 14 1Q 15 2Q 15 3Q 15 4Q 15 1Q 16 2Q 16 3Q 16 4Q 02 4Q 03 4Q 04 4Q 05 4Q 06 4Q 07 4Q 08 4Q 09 4Q 10 4Q 11 1Q 12 2Q 12 3Q 12 4Q 12 1Q 13 2Q 13 3Q 13 4Q 13 1Q 14 2Q 14 3Q 14 4Q 14 1Q 15 2Q 15 3Q 15 4Q 15 1Q 16 2Q 16 3Q 16 TOTAL SECTOR LENDING (% YoY) TOTAL SECTOR DEPOSITS (% YoY) 36 33 30 27 24 21 18 15 12 9 6 3 0-3 5 3 13 23 30 36 8 9 14 1311 9 9 7 8 8 7 4 5 5 4 2 4 4 4 5 5 22 17 12 7 2-4 3-4 8 13 15 15 21 10 9 12 9 10 12 5 7 7 6 6 5 6 8 8 8 8 9 9 11 9 4Q 02 4Q 03 4Q 04 4Q 05 4Q 06 4Q 07 4Q 08 4Q 09 4Q 10 4Q 11 1Q 12 2Q 12 3Q 12 4Q 12 1Q 13 2Q 13 3Q 13 4Q 13 1Q 14 2Q 14 3Q 14 4Q 14 1Q 15 2Q 15 3Q 15 4Q 15 1Q 16 2Q 16 3Q 16 4Q 02 4Q 03 4Q 04 4Q 05 4Q 06 4Q 07 4Q 08 4Q 09 4Q 10 4Q 11 1Q 12 2Q 12 3Q 12 4Q 12 1Q 13 2Q 13 3Q 13 4Q 13 1Q 14 2Q 14 3Q 14 4Q 14 1Q 15 2Q 15 3Q 15 4Q 15 1Q 16 2Q 16 3Q 16 Source: NBP; December 2002 September 2016

Banking sector trends Key parameters - YTD (5) HOUSEHOLDS LENDING (% YTD) HOUSEHOLDS DEPOSITS (% YTD) 50% 45% 40% 35% 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 35% 30% 25% 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 30% 25% 20% 20% 15% 15% 10% 5% 0% 10% 5% 0% -5% XII' I II III IV V VI VII VIII IX X XI XII -5% XII' I II III IV V VI VII VIII IX X XI XII CORPORATE LENDING (% YTD) CORPORATE DEPOSITS (% YTD) 35% 30% 25% 20% 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 17% 12% 7% 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 15% 2% 10% 5% 0% -3% -8% -5% I II III IV V VI VII VIII IX X XI XII -13% XII' I II III IV V VI VII VIII IX X XI XII Source: NBP; January 2007 September 2016 21

17,2% 18,0% 17,8% 18,2% 17,8% 18,2% 17,8% 17,9% 17,3% 17,3% 16,1% 15,6% 13,9% 12,8% 13,0% 14,7% 14,4% 14,2% 12,3% 12,2% 12,3% 12,4% 12,2% 12,3% 3,2% 3,1% 3,4% 3,4% 3,3% 2,9% 2,9% 2,9% 2,9% 1,9% 2,0% 2,1% 2,2% 2,3% 2,5% 2,6% 2,7% 2,8% 2,9% 3,0% 3,0% 3,1% 3,1% 3,2% 12,4% 12,5% 12,6% 13,1% 12,7% 12,3% 12,7% 12,7% 11,5% 12,2% 13,2% 12,3% 13,4% 12,4% 14,1% 11,4% 11,3% 11,1% 9,9% 11,2% 8,8% 8,2% 7,6% 9,7% 9,8% 9,1% 9,4% 9,3% 7,4% 7,3% 7,2% 7,7% 7,6% 8,4% 9,0% 8,7% 9,6% 9,7% 6,6% 7,5% Jun 15 Sep 15 Dec 15 May 16 Jun 16 Sep 16 Mar 09 Sep 09 Mar 10 Sep 10 Mar 11 Sep 11 Mar 12 Sep 12 Mar 13 Sep 13 Mar 14 Sep 14 Dec 14 Mar 15 22 Banking sector trends Non-performing loans (6) HOUSEHOLDS NPL RATIO CORPORATE NPL RATIO Source: NBP SME Corporate 1,5% 1,6% 1,8% 9,1% 10,0%11,3%13,1%14,8%15,8%16,9% 1,2% 1,3% 1,4% 1,5% Sep 14 Mar 15 Sep 15 Mar 16 Sep 16 Mar 09 Sep 09 Mar 10 Sep 10 Mar 11 Sep 11 Mar 12 Sep 12 Mar 13 Sep 13 Mar 14 Mortgage Cash 4,5%4,9% 6,0%6,6% 6,7%7,2% 7,2% 7,4% 7,2% 7,3% 7,2% 7,5% 7,3% 7,5% 7,4% 7,5% 7,2% 7,1% 7,1% 7,0% 7,0% 6,9% 6,5% 6,8% 6,6% 6,5% 6,2% 6,3% 6,2% 6,2% Mar 09 Jun 09 Dec 09 Mar 10 Jun 10 Sep 10 Dec 10 Mar 11 Jun 11 Sep 11 Dec 11 Mar 12 Jun 12 Sep 12 Dec 12 Mar 13 Jun 13 Sep 13 Dec 13 Mar 14 Jun 14 Sep 14 Dec 14 Mar 15 Jun 15 Sep 15 Dec 15 Mar 16 Jun 16 Sep 16 Total retail 10,1% 8,4% 11,5% 9,6% 11,2%12,2% 12,2% 12,4% 11,5% 10,9% 10,7% 10,5% 10,4% 11,1% 11,3% 11,7% 11,8% 11,8% 11,5% 11,5% 11,4% 10,7% 11,2% 11,3% 10,9% 10,6% 9,8% 9,7% 9,6% 9,4% Mar 09 Jun 09 Sep 09 Dec 09 Mar 10 Jun 10 Sep 10 Dec 10 Mar 11 Jun 11 Sep 11 Dec 11 Mar 12 Jun 12 Sep 12 Dec 12 Mar 13 Jun 13 Sep 13 Dec 13 Mar 14 Jun 14 Sep 14 Dec 14 Mar 15 Jun 15 Sep 15 Dec 15 Mar 16 Jun 16 Sep 16 Total corporate

23 Selected data

Consolidated balance sheet mln PLN Sep 15 Jun 16 Sep 16 Q/Q % Y/Y % Cash and amounts due from Central Bank 3 590 5 892 3 996-32% 11% Loans and advances to banks 3 761 4 351 3 289-24% -13% Loans and advances to customers* 123 668 120 247 121 308 1% -2% Investment securities 28 198 26 613 27 340 3% -3% Assets held for sale 37 50 48-3% 30% Intangible assets 634 599 585-2% -8% Tangible fixed assets 1 468 1 409 1 398-1% -5% TOTAL ASSETS 170 792 166 012 163 253-1,7% -4,4% Amounts due to the Central Bank 1 6 6 0% 566% Amounts due to other banks 7 865 4 981 5 500 10% -30% Financial liabilities held for trading 330 786 499-37% 51% Amounts due to customers 128 601 126 894 126 965 0% -1% Debt securities issued 3 628 2 085 1 626-22% -55% Total liabilities 147 929 143 812 140 513-2,3% -5,0% Total Shareholders' equity 22 862 22 200 22 739 2,4% -0,5% (*) Including loans and advances from customers and receivables from finance leases 24

Consolidated income statement mln PLN 3Q 15 2Q 16 3Q 16 Q/Q% Y/Y% 9M 2015 9M 2016 Y/Y % Net interest income (1) 1 059 1 108 1 127 1,7% 6,4% 3 161 3 315 4,9% Net fee and commission 508 505 490-3,0% -3,5% 1 502 1 458-2,9% Operating income 1 709 2 013 1 755-12,8% 2,7% 5 291 5 586 5,6% Operating costs (2) -808-812 -794-2,3% -1,8% -2 421-2 418-0,1% OPERATING PROFIT 900 1 201 962-19,9% 6,8% 2 870 3 168 10,4% Provisions -130-131 -134 2,1% 2,9% -397-394 -0,7% Guarantee funds charges -68-64 -66 2,6% -3,8% -206-197 -4,4% Banking tax -120-121 0,4% #DZIEL/0! #ARG! -322 #ARG! PROFIT BEFORE INCOME TAX 760 884 638-27,8% -16,0% 2 299 2 250-2,1% Income tax -149-193 -117-39,2% -21,3% -444-466 4,9% GROUP NET INCOME (3) 610 691 521-24,6% -14,7% 1 854 1 785-3,8% Cost/Income Ratio (%) (4) 47,3% 40,3% 45,2% 4,9-2,1 45,8% 43,3% - 2,5 Cost of Risk (%) 0,49% 0,47% 0,48% 0,0-0,0 0,50% 0,47% - 0,0 ROE (%) 10,8% 11,7% 9,3% - 2,4-1,5 10,4% 10,2% - 0,2 ROE normalised (%) (5) 17,0% 18,4% 14,7% - 3,7-2,3 15,8% 16,0% 0,2 ROA (%) 1,5% 1,7% 1,3% - 0,4-0,2 1,5% 1,5% - TCR (%) - Basel 3 17,7% 18,1% 18,1% - 0,4 17,7% 18,1% 0,4 NIM (%) (6) 2,73% 2,80% 2,81% 0,0 0,1 2,79% 2,78% - 0,0 L/D (%) (7) 89,7% 93,6% 94,6% 1,0 4,9 89,7% 94,6% 4,9 25 (1) NII and dividends and other income from equity investments (3) Net profit attributable to equity holders of the Bank (5) ROE assuming TCR at 10% (6) NIM calculated based on average daily working assets (2) Costs excl. guarantee funds charges (4) Operating cost excluding guarantee funds charges (7) Loans excluding repo and buy-sell-back transactions, deposits includes only clients liabilities and debt issue excluding reverse repo transactions and sell buy-back

Selected data Bank Sep 15 Dec 15 Mar 16 Jun 16 Sep 16 Q/Q % Y/Y % Outlets 992 975 959 947 942-0,5% -5,0% ATM's 1 767 1 759 1 750 1 754 1 754 0,0% -0,7% Employees 16 501 16 387 16 403 16 258 16 100-1,0% -2,4% No of PLN current accounts (ths)* 5 279 5 314 5 338 5 377 5 435 1,1% 2,9% No of mortgage loan accounts (ths)** 303 310 314 319 324 1,5% 6,9% No of clients holding a consumer loan accounts (ths)*** 575 576 573 574 574 0,0% -0,2% Number of individuals with an access to electronic banking Pekao24 (ths) 2 857 2 899 2 955 3 019 3 089 2,3% 8,1% Number of individuals with an access to mobile banking (ths) 889 1 015 1 117 1 243 1 367 10,0% 53,8% Number of business clients (SME) with an access to electronic banking systems (ths) 245 248 250 252 255 1,4% 3,9% Group Sep 15 Dec 15 Mar 16 Jun 16 Sep 16 Q/Q % Y/Y % Employees**** 18 471 18 327 18 315 18 150 17 994-0,9% -2,6% Outlets**** 992 975 959 947 942-0,5% -5,0% ATM's**** 1 767 1 759 1 750 1 754 1 754 0,0% -0,7% Number of MF accounts (ths)***** 870 850 826 810 799-1,4% -8,2% Number of Brokerage accounts (ths)****** 351 346 346 345 343-0,6% -2,1% (*) Number of accounts including pre-paid card accounts 26 (**) Retail clients accounts (***) Pożyczka Ekspresowa (Express Loan) (****) Credit Union (SKOK) Kopernik included since Dec 2014 (*****) Pioneer Pekao Investment Management S.A. (******) Including: Dom Maklerski Pekao (Dom Maklerski), subsidiarycentralny Dom Maklerski Pekao S.A. (CDM), and associated entity Dom Inwestycyjny Xelion Sp. z o.o. (Xelion)

Activity by segments mln PLN Retail Banking Private Banking Corporate&Investment Banking Assets&Liabilities Management & Others Group 9M 15 9M 16 Y/Y % 9M 15 9M 16 Y/Y % 9M 15 9M 16 Y/Y % 9M 15 9M 16 Y/Y % 9M 15 9M 16 Y/Y % Net interest income (1) 1 709 1 792 5% 18 34 85% 1 199 1 225 2% 235 264 13% 3 161 3 315 5% Non-interest income 1 155 1 131-2% 25 23-8% 824 688-16% 126 428 240% 2 130 2 270 7% Operating income 2 864 2 924 2% 43 57 32% 2 023 1 913-5% 361 693 92% 5 291 5 586 6% Operating costs (2) -1 899-1 921 1% -38-39 3% -471-458 -3% -12,5 0,0-100% -2 421-2 418 0% OPERATING PROFIT 965 1 003 4% 5 18 248% 1 551 1 455-6% 348 692 99% 2 870 3 168 10% Net write-downs/provision -143-215 51% 0 0-255% -270-194 -28% 15 14-7% -397-394 -1% Guarantee funds charges -77-74 -3% -1 0-21% -128-116 -10% 0-6 -206-197 -4% Banking tax 0 0 0 0 0 0 0-322 0-322 PROFIT BEFORE INCOME TAX 745 713-4% 3,8 17,6 361% 1 150 1 145 0% 400 375-6% 2 299 2 250-2,1% (1) Total net interest income, dividends and other income from equity investments 27 (2) Operating cost excluding guarantee funds charges

The structure of the Group net profit mln PLN cumulative Group's share in capital % 9M 15 9M 16 Y/Y Y/Y % Bank Pekao S.A. Banking - Poland 1 917,7 1 825,1-93 -4,8% Entities - consolidated under full method 165,3 88,2 #ARG! -47% of which: (*) Pekao Leasing Sp. z o.o. Leasing 100% 37,1 27,4-9,70-26% Centralny Dom Maklerski Pekao S.A. Brokerage 100% 33,4 18,2-15,20-46% Pekao Bank Hipoteczny S.A. Mortgage Bank 100% 6,6 6,2-0,40-6% Pekao Pioneer PTE S.A. Pension Fund 65% 2,1 0,9-1,20-57% Pekao Faktoring Sp. z o.o. Factoring 100% 6,5 6,6 0,10 2% Pekao Investment Banking S.A. Brokerage 100% 9,8 20,2 0,00 106% Centrum Bankowości Bezpośredniej Sp. z o.o. Call Centre 100% 1,4 1,8 0,40 29% Pekao Financial Services Sp. z o.o. Servicing MF/PF 100% 6,2 5,9-0,30-5% Centrum Kart S.A. Cards 100% 0,7 0,4-0,30-43% Pekao Fundusz Kapitałowy Sp. z o.o. Business consulting 100% 0,1 0,3 0,20 200% Pekao Property S.A. Real estate development 100% 0,0-0,2-0,20 ####### FPB "MEDIA" Sp. z o.o. Real estate development 100% 0,2 0,1 0,10-50% Entities - valued under the equity method 41,5 29,6-12 -29% Pioneer Pekao Investment Management S.A. Mutual Funds 49% 34,7 28,1-6,60-19% Krajowa Izba Rozliczeniowa S.A. Clearing Services 5,70% 5,5 0,0-5,50-100% Dom Inwestycyjny Xelion Sp. z o.o. Financial Advisory 50% 1,3 1,5 0,20 15% Exclusions and consolidation adjustments -270,4-158,3 112-41% Group Net Profit (**) 1 854,1 1 784,6-70 -3,7% 28 (*) Entities in liquidation, sold or indirect ownership not presented (**) Group net profit attributable to equity holders of the Bank (reported) NOTE: Data as reported

Customers financing mln PLN Sep 15 Jun 16 Sep 16 Q/Q % Y/Y % Loans* 108 850 112 525 113 798 1,1% 4,5% retail 52 428 55 737 56 824 2% 8% corporate 56 422 56 788 56 974 0% 1% Non quoted securities 11 213 12 623 12 566-0,5% 12,1% Other 550 612 643 5% 17% Nominal value adjustment 228 291 319 10% 40% Impairment losses -5 729-5 954-6 020 1% 5% Net loans and advances 123 663 120 246 121 306 1% -2% Securities issues by non monetary entities** Reverse repo and buy-sell-back transactions 928 879 870-1,0% -6,2% 8 551 149 0-100,0% -100,0% TOTAL CUSTOMERS FINANCING*** 129 541 126 176 127 234 1% -2% (*) Including debt securities eligible for rediscounting at Central Bank, net investments in financial leases to customers 29 (**) Securities issued by non monetary entities including local governments (***) Total customers financing includes Loans and advances at nominal value, Securities issued by non monetary entities, reverse repo transactions and buy-sell-back

Loans exposure - sectors SECTOR DESCRIPTION* 31.12.2013 31.12.2014 31.12.2015 30.09.2016 Wholesale and retail trade; repair of motor vehicles and motorcycles 12,9% 14,2% 15,2% 15,1% Public administration and defence; compulsory social security 13,0% 11,9% 10,9% 10,5% Real estate activities 12,6% 10,4% 10,5% 11,9% Electricity, gas, steam and air conditioning supply 8,8% 9,0% 8,6% 7,8% Finanace and Insurance activity 5,9% 9,6% 7,8% 4,1% Transportation and storage 6,3% 6,8% 7,2% 6,7% Construction 5,8% 5,1% 6,3% 6,8% Mining and quarrying 3,0% 3,9% 4,4% 3,1% Manufacture of metals, metal products and machinery 3,8% 3,8% 4,0% 4,8% Manufacture of beverages and food products 3,4% 3,1% 3,8% 4,4% Manufacture of chemicals, pharmaceuticals and refined petroleum products 3,8% 2,8% 2,9% 4,5% Information and communication 4,3% 5,0% 2,7% 2,5% Manufacture of rubber, plastic and non-metalic products 2,3% 1,9% 2,1% 2,2% Other manufacturing 5,4% 4,5% 5,2% 5,5% Other sectors 8,7% 8,0% 8,4% 10,1% Total 100% 100% 100% 100% Note: Based on the annual Group data including current exposure and commitment 30

Key lending products Stock PLN mortgage loans volumes (mln PLN) Consumer loans volumes (mln PLN) +10.1% +12.4% +2.5% +3.7% 36 808 37 955 38 729 39 538 40 523 8 708 8 951 9 009 9 434 9 787 Sep 15 Dec 15 Mar 16 Jun 16 Sep 16 Sep 15 Dec 15 Mar 16 Jun 16 Sep 16 31

Mutual funds Mutual funds volumes (mln PLN ) -0.3% +3.6% 21 993 21 176 21 937 Mutual funds - assets structure (PPIM SA) 5 403 5 364 5 512 16 590 15 812 16 425 15% 13% Third party funds distributed by the Group PPIM SA Sep 15 Jun 16 Sep 16 72% Market share (%) 17,9% 17,3% 17,1% Equity funds Balance funds Money and bonds funds Sep 15 Jun 16 Sep 16 Note: Market share funds distributed by Pekao Group, compared with the market of retail investment funds available for individuals 32

Ratings of Bank Pekao S.A. FITCH RATINGS PEKAO POLAND Long-term rating (IDR) A- A- Short-term rating F2 F2 Viability rating a- - Support rating 2 - Outlook Stable Stable S&P GLOBAL RATINGS* PEKAO POLAND Long-term rating BBB+ BBB+ Short-term rating A-2 A-2 Stand-alone bbb+ - Outlook Negative Negative MOODY'S INVESTORS SERVICE LTD PEKAO (unsolicited rating) POLAND Long-term foreign-currency deposit rating A2 A2 Short-term deposit rating Prime-1 Prime-1 BCA baa1 - Outlook Stable/ Negative** Negative 33 * On April 28, 2016, the name Standard & Poor's Ratings Services was changed to S&P Global Ratings. ** Outlook Stable on ratings of liabilities in domestic currency / Negative on ratings of liabilities in foreign currencies. Bank Pekao S.A. has the highest viability rating assigned by Fitch Ratings, the highest Stand-Alone Credit Profile rating assigned by S&P Global Ratings, and the highest Baseline Credit Assessment as well as long- and short-term counterparty risk ratings assigned by Moody s Investors Service. On 9th of November 2016 Fitch Ratings reviewed and affirmed Bank Pekao S.A. ratings at unchanged levels. At the same time Fitch placed Bank s Support rating on Rating Watch Negative.

Investor relations team s contact and calendar CONTACT DETAILS Q&A related to the presentation: Dariusz Choryło Executive Director ph.: +48 22 524 55 27 e-mail: dariusz.chorylo@pekao.com.pl 9 February 2016 26 April 2016 10 May 2016 FINANCIAL CALENDAR Annual Report 2015 and Webcasting Start of Blackout Period First Quarter Report and Webcasting Dorota Faszczewska-Ward ph.: +48 22 524 55 30 e-mail: dorota.faszczewska-ward@pekao.com.pl Iwona Milewska ph.: +48 22 524 55 28 e-mail: iwona.milewska@pekao.com.pl Krzysztof Szlichciński ph.: +48 22 524 55 29 e-mail: krzysztof.szlichcinski@pekao.com.pl 20 July 2016 3 August 2016 27 October 2016 10 November 2016 Start of Blackout Period Semi-annual Report and Webcasting Start of Blackout Period Third Quarter Report and Webcasting 34 Visit us at: www.pekao.com.pl Blackout Period two weeks period before publication of financial statements. During this period we do not organise meetings with investors and analysts