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Independent Statutory Auditor’s Report on the Audit of

Consolidated Annual Financial Statements

of the ING Bank Śląski S.A. Group

for the financial year ended 31 December 2024

Forvis Mazars Audyt Sp. z o.o.

ul. Piękna 18

00-549 Warsaw

Forvis Mazars Audyt Sp. z o.o.

Sąd Rejonowy dla m. st. Warszawy, XII Wydział Gospodarczy KRS nr 0000086577, kapitał zakładowy: 1 268 000,00 PLN,

NIP: 5260215409, REGON: 011110970

INDEPENDENT STATUTORY AUDITOR’S REPORT

ON THE AUDIT OF CONSOLIDATED ANNUAL FINANCIAL STATEMENTS

Translation of the document originally issued in Polish

To the General Meeting and the Supervisory Board of ING Bank Śląski S.A.

Report on the Audit of Consolidated Annual Financial Statements

Opinion

We have audited the consolidated annual financial statements of the group, the parent undertaking of

which is ING Bank Śląski S.A. (“the Parent Undertaking”, “the Bank”) (“Group”), which comprise the

consolidated statement of financial position as at 31 December 2024, the consolidated income statement,

the consolidated statement of comprehensive income, the consolidated statement of changes in equity,

the consolidated cash flow statement for the financial year from 1 January to 31 December 2024 and

notes to the consolidated financial statements, including accounting policy and additional notes (“the

consolidated financial statements”).

In our opinion, the accompanying consolidated financial statements:

• give a true and fair view of the Group’s property and financial position as at 31 December 2024,

and of its consolidated financial performance and its consolidated cash flows for the financial year

then ended in accordance with the applicable International Financial Reporting Standards as

adopted by the European Union and the adopted accounting principles (policy);

• comply with the legislation applicable to the Group and with the provisions of the Parent

Undertaking’s Articles of Association as to the form and content.

The present opinion is consistent with the additional report to the Audit Committee that we issued on

7 March 2025.

Forvis Mazars Audyt Sp. z o.o. 3

Basis for Opinion

We conducted our audit in accordance with National Standards on Auditing as per International Standards

on Auditing adopted by resolution of the National Council of Statutory Auditors no. 3430/52a/2019 of

21 March 2019 regarding national standards on auditing and other documents, as amended (during the

audit, the possibility of early application of the provisions of Resolution No. 105/4/2023 of the National

Council of Statutory Auditors of 18 September 2023 on the establishment of National Auditing Standard

600 (Revised) was exercised) and resolution of the Council of the Polish Agency for Audit Oversight no.

38/I/2022 of 15 November 2022 on national standards on quality control and National Standard on Auditing

220 (Revised) (“NSA”), as well as according to the Act on Statutory Auditors, Audit Firms and Public

Supervision of 11 May 2017 (“the Act on Statutory Auditors” - Journal of Laws of 2024, item 1035 as

amended) and Regulation (EU) No 537/2014 of 16 April 2014 on specific requirements regarding statutory

audit of public-interest entities and repealing Commission Decision 2005/909/EC (“EU Regulation” -

Official Journal of the European Union L 158/77 of 27 May 2014, as amended). Our responsibility under

those standards has been further described in “Statutory Auditor’s Responsibilities for the Audit of the

Consolidated Financial Statements” section of our report.

We are independent of the Group Companies in accordance with the International Code of Ethics for

Professional Accountants (including International Independence Standards) issued by the International

Ethics Standards Board for Accountants (“the IESBA Code”), adopted by resolution of the National Council

of Statutory Auditors No. 3431/52a/2019 of 25 March 2019 on the principles of professional ethics for

statutory auditors, as amended and other ethical requirements which are applicable to the audit of financial

statements in Poland. We have fulfilled our other ethical responsibilities in accordance with these

requirements and the IESBA Code. During the audit the key statutory auditor and the audit firm remained

independent of the Group Companies in accordance with the independence requirements set out in the

Act on Statutory Auditors and in the EU Regulation.

We believe that the audit evidence that we have obtained is sufficient and appropriate to provide a basis

for our audit opinion.

Key Audit Matters

Key audit matters are those matters that, in our professional judgment, were of most significance in the

audit of the consolidated financial statements of the current reporting period. These include the most

significant assessed risks of material misstatement, including the assessed risks of material misstatement

due to fraud. These matters were addressed in the context of our audit of the consolidated financial

statements as a whole and in forming our opinion thereon, and we summarized our responses to these

risks, and, where deemed appropriate, presented the most important observations related to these risks.

We do not provide a separate opinion on these matters.

Key Audit Matter

How our audit responded to this matter

Impairment for expected credit losses on

loans and other receivables to customers

In accordance with the International Financial

Reporting Standard 9 Financial Instruments

("IFRS 9"), the Group's management should

determine the value of expected credit losses that

may occur during the 12-month period or the

remaining life of the financial asset, depending on

We critically analyzed the design and implementation of the

process for assessing credit risk and estimating expected

credit losses and verified the effectiveness of the controls

implemented by the Group for identifying and estimating

expected credit losses.

We performed a reconciliation of the base of loans and other

receivables to customers with the Group's general ledger to

confirm the completeness of the recognition of loans and other

Forvis Mazars Audyt Sp. z o.o. 4

classification of individual assets into risk

categories ("stages") taking into account the

impact of future macroeconomic conditions on

the level of expected credit losses.

Determining the amount and timing of recognition

of expected credit losses requires the use of

significant judgment and significant and complex

estimates, including primarily in terms of the

parameters of credit risk in the models for

calculating expected credit losses.

The estimate of the allowance for expected credit

losses takes into account the issue of the impact

of changing macroeconomic conditions of the

economy. This estimate required the application

by the Group's Management Board additional

assumptions and expert adjustments, which take

into account the uncertainties associated with the

current and future macroeconomic environment

and reflect risk factors that were not included in

the Group's models.

We considered this area to be a key audit matter

because the estimation of the impairment for

expected credit losses involves significant

inherent risks of misstatements as well as

uncertainty in the estimates made and requires

the Group's management to exercise significant

judgment and, given the size of the loan portfolio,

has a material impact on the financial statements.

Note III.3.1. Estimation of expected credit losses

for financial assets and Note II.2 Credit risk

included in the "Risk and capital management"

chapter provide details on the methods and

models used and the level of impairment for

expected credit losses on loans and other

receivables to customers.

receivables to customers that are the basis for the impairment

for expected credit losses, as well as the value of the

impairment.

We performed analytical procedures for the coverage of the

loan portfolio with expected credit losses and their changes,

as well as the transfer of exposures between stages.

We evaluated the Group's impairment methodology for

compliance with the requirements of IFRS 9 and

Recommendation R, in particular with regard to the application

of the criteria for identifying a significant increase in credit risk,

the definition of default, the credit risk parameters adopted and

the consideration of the impact of future macroeconomic

conditions (forward looking information) on the level of

expected credit losses.

For the portfolio of loans and other receivables to customers

assessed using the collective method:

• we conducted an analysis of the methodology used to

calculate the impairment for expected credit losses for

exposures evaluated using the collective method,

including the adequacy of the risk parameters used by

the Group,

• we conducted an independent verification of the

calculation of impairment for expected credit losses for

the entire population of loans,

• we conducted an assessment of the verification of

models based on historical data (so-called back-

tests),

• we verified the approach and assumptions adopted to

create adjustments changing model parameters or

estimates of expected credit losses and assessed

their validity.

For the portfolio of loans and other receivables to customers

assessed using the individual method:

• we conducted an analysis of the correctness of the

impairment identification process and classification

into stages,

• on a selected sample of credit exposures, we

reviewed documents on the borrower's financial

situation and verified the correctness of the

assignment to the appropriate stage,

• for selected impaired loans and advances (stage 3),

we tested the assumptions used in calculating

Forvis Mazars Audyt Sp. z o.o. 5

expected credit losses, in particular the expected

scenarios and the probabilities assigned to them, as

well as the timing and amounts of expected cash

flows, including cash flows from repayments and

realization of collateral.

We also assessed the adequacy and completeness of

disclosures regarding the impairment for expected credit

losses in the separate financial statements.

Impact of the legal risk of CHF-indexed

mortgage loans

The estimate of the impact of the legal risk of

CHF-indexed mortgage loans resulting in the

recognition of adjustments to the gross carrying

value of these loans or related litigation

provisions is complex and requires a significant

degree of judgment in determining the possible

scenarios, as well as with respect to the

assumptions made regarding the number of

expected lawsuits, the likelihood of their

resolution with consideration of the possibility of

a court settlement, and the amount of loss if the

Group loses a lawsuit or enters into a court

settlement.

The Group's estimates in this regard are based

on historical observations indicating considerable

uncertainty about the number of lawsuits that will

be filed in court in the future or settlements

concluded.

Note III.3.3 Legal risk related to the portfolio of

mortgage loans indexed to the Swiss franc

exchange rate details the assumptions used to

calculate the adjustment to the gross carrying

value of CHF-indexed mortgages and related

provisions for litigation, as well as possible

alternative results presented as part of the

sensitivity analysis of the estimate.

In terms of estimating the amount of the impact of the legal risk

of CHF-indexed mortgage loans, our audit procedures were

mainly directed at evaluating the model and the various

assumptions made by the Group's Management Board that

have a significant impact on the level of estimated legal risk

costs. In particular, we carried out the procedures described

below:

• we assessed the accounting policy and methodology

for calculating the estimated loss recognized on

mortgage loans in CHF resulting from legal risk,

• we assessed the functioning and effectiveness of

internal controls in carrying out and accepting the CHF

loss estimate,

• we carried out a critical evaluation of the model for

estimating the impact of legal risk on CHF-indexed

mortgage loans and the various assumptions,

• we held discussions with the Bank's Management

Board and specialists, including the Bank's lawyers,

on the assumptions made, taking into account

historical observations, including information and

events subsequent to the balance sheet date, past

and possible legal settlements, in particular

settlements of the Court of Justice of the European

Union (CJEU),

• we analyzed the Group's documentation for the

purpose of estimating the statistical probability of

realization of the various scenarios of possible

settlements,

• we verified the assumptions adopted by the Group

based on historical data for estimating the probability

of future settlements and the level of losses realized

because of them,

Forvis Mazars Audyt Sp. z o.o. 6

• we analyzed the calculation of the value of potential

losses under the various scenarios adopted by the

Group based on historical data,

• we verified the model used by the Group to estimate

the impact of legal risk, verified the correctness and

completeness of the data underlying the calculations,

and confirmed the mathematical correctness of the

calculations,

• we analyzed events after the balance sheet date and

their impact on the estimate of provisions,

• we analyzed the register of customer complaints, with

a particular focus on issues related to and mortgage

loans indexed to CHF.

We also assessed the adequacy and completeness of the

disclosures regarding the impact of legal risk on CHF-indexed

mortgage loans in the separate financial statements.

Responsibility of the Management Board and Supervisory Board of the Parent Undertaking

for Consolidated Financial Statements

The Parent Undertaking’s Management Board is responsible for preparing the consolidated financial

statements that give a true and fair view of the Group’s property and financial position and its financial

performance in accordance with International Financial Reporting Standards as adopted by the European

Union and adopted accounting principles (policy), as well as with the relevant legislation and with the

provisions of the Parent Undertaking’s Articles of Association. The Parent Undertaking’s Management

Board is also responsible for such internal control as the Management Board determines is necessary to

enable the preparation of consolidated financial statements that are free of material misstatement, whether

due to fraud or error.

When preparing the consolidated financial statements, the Parent Undertaking’s Management Board is

responsible for assessing the Group’s ability to continue as a going concern, as well as for disclosing, if

applicable, matters related to going concern and for adopting the going concern assumption as an

accounting basis, unless the Management Board either intends to liquidate the Group or to cease

operations or has no realistic alternative but to do so.

The Parent Undertaking’s Management Board and members of its Supervisory Board are obliged to

ensure that the consolidated financial statements meet the requirements set out in the Accounting Act the

of 29 September 1994 (“Accounting Act” - Journal of Laws of 2023, item 120 as amended). Members of

the Parent Undertaking’s Supervisory Board are responsible for supervising the financial reporting

process.

Statutory Auditor’s Responsibility for Audit of the Consolidated Financial Statements

Our objectives are to obtain reasonable assurance about whether the consolidated financial statements

as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s

report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee

Forvis Mazars Audyt Sp. z o.o. 7

that an audit conducted in accordance with the National Standards on Auditing will always detect a material

misstatement when it exists. Misstatements can arise from fraud or error and are considered material if,

individually or in the aggregate, they could reasonably be expected to influence the economic decisions of

users taken on the basis of these consolidated financial statements.

The scope of audit does not include assurance as to the future profitability of the Group and effectiveness

or efficiency of running the Group’s affairs by the Parent Undertaking’s Management Board at present or

in the future.

According to National Standards on Auditing, we exercise professional judgement and maintain

professional scepticism throughout the audit, as well as:

• we identify and assess the risk of material misstatement of the consolidated financial statements,

whether due to fraud or error, we design and perform audit procedures in response to this risk and

we obtain audit evidence which is sufficient and appropriate to provide a basis for our audit opinion.

The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting

from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or

the override of internal control;

• we obtain understanding of internal control applied for the purposes of audit in order to design audit

procedures that are appropriate in the circumstances, but not for the purpose of expressing an

opinion on the effectiveness of the internal control in the Group;

• we evaluate the appropriateness of the accounting principles (policy) used, the reasonableness of

the accounting estimates and related disclosures, provided by the Management Board of the

Parent Undertaking;

• we conclude on the appropriateness of the Parent Undertaking’s management’s use of the going

concern principle as a basis of accounting and, based on the audit evidence obtained, whether a

significant uncertainty related to events or conditions exists and if that may cast significant doubt

on the Group’s ability to continue as a going concern. If we come to the conclusion that a material

uncertainty exists, we are required to pay attention in our auditor’s report on related disclosures in

the consolidated financial statements or, if such disclosures are inadequate, to modify our opinion.

Our conclusions are based on the audit evidence obtained up to the date of the auditor’s report.

However, future events or conditions may cause the Group to cease to continue as a going

concern;

• we evaluate the overall presentation, structure and content of the consolidated financial

statements, including the disclosures, and whether the consolidated financial statements represent

the underlying transactions and events in a manner that achieves fair presentation.

• we obtain sufficient and appropriate audit evidence related to the financial information of entities

and to the economic activities within the Group, in order to express the opinion on the consolidated

financial statements. We are responsible for directing, supervising and conducting the Group’s

audit and we remain exclusively responsible for our audit opinion.

We communicate with the Parent Undertaking’s Audit Committee regarding, among other matters, the

planned scope and timing of the audit and significant audit findings, including any significant deficiencies

in internal control identified by the auditor during the audit.

We make a representation to the Audit Committee of the Parent Undertaking that we have complied with

relevant ethical requirements pertaining to independence and that we will communicate all relationships

Forvis Mazars Audyt Sp. z o.o. 8

and other matters that could reasonably be considered to pose a threat to our independence, and, where

applicable, the safeguards applied.

From all the matters communicated to Audit Committee of the Parent Undertaking, we have chosen those

being of most significance in the audit of the consolidated financial statements of the current reporting

period and therefore we judged them to be the Key Audit Matters. We describe these matters in our

auditor’s report unless law or regulation preclude their public disclosure or when, in exceptional

circumstances, we determine that a matter should not be communicated in our report because the adverse

consequences of doing so would reasonably be expected to outweigh the public interest benefits of such

communication.

Other Information, including the Management Report

Other information includes:

• the Management Report on Operations of the ING Bank Śląski S.A. Group in 2024 (“the

Management Report”) with the Letter from the CEO and corporate governance statement, which

is separate parts of this Management Report,

• Letter from the Chair of the Supervisory Board,

• Representation of the Supervisory Board concerning the Audit Committee,

• Representation of the Supervisory Board concerning the Audit Firm,

• Assessment of the annual financial statements of ING Bank Śląski S.A. for 2024 prepared by the

Supervisory Board,

• Assessment of the ING Bank Śląski S.A. Group’s Operations in 2023 prepared by the Supervisory

Board.

(together “Other Information”).

Under Article 55 (2a) of the Accounting Act the Management Report on the operations of the Group and

the Parent Undertaking for 2024 were prepared jointly.

Responsibilities of the Management Board and Supervisory Board of the Parent Undertaking

The Parent Undertaking’s Management Board is responsible for preparing Other Information in

accordance with the applicable regulations.

The Parent Undertaking’s Management Board and members of the Parent Undertaking’s Supervisory

Board are obliged to ensure that the Group Management Report along with the corporate governance

statement, which is a separate part of this Group Management Report meets the requirements set out in

the Accounting Act.

Statutory Auditor’s Responsibility

Our opinion on the audit of the consolidated financial statements does not cover the Other Information. In

connection with our audit of the consolidated financial statements, our responsibility is to read the Other

Information and, in doing so, consider whether the Other Information is materially inconsistent with the

consolidated financial statements or our knowledge obtained in the audit or otherwise appears to be

materially misstated. If, based on the work we have performed, we conclude that there is a material

misstatement of this Other Information, we are required to report that fact. In accordance with the Act on

Statutory Auditors, our responsibility is also to give an opinion whether the Group management report, to

the extent not relevant to sustainability reporting, has been prepared in accordance with applicable

Forvis Mazars Audyt Sp. z o.o. 9

regulations and whether it complies with the information contained in the consolidated financial statements.

In addition, in accordance with requirements of Article 111a (3) of the Act of 29 August 1997 Banking Law

(“Banking Law” - Journal of Laws of 2024, item 1646 as amended), our responsibility is to audit information

specified in Article 111a (2) of the Banking Law contained in the Group Management Report. Moreover,

we are obliged to issue an opinion whether the Group included the required information in the corporate

governance statement.

Opinion on the Group Management Report

Based on the work performed during the audit, in our opinion, the Group Management Report:

• has been prepared according to Article 49 of the Accounting Act and paragraph 71 of the

Regulation of the Minister of Finance of 29 March 2018 on Current and Periodic Information

Provided by Issuers of Securities and Conditions of Recognition of Information Required under the

Regulations of the non-EU Member State as Equivalent (“Regulation on Current Information” -

Journal of Laws of 2018, item 757, as amended) and Article 111a (2) of the Banking Law,

• is in line with information contained in the consolidated financial statements.

Information about sustainability reporting and its attestation

The Group's sustainability reporting, referred to in Chapter 6c of the Accounting Act, which is a separate

part of the Report on the Group's activities (section Statement on sustainable development in the Report

on activities), is subject to a separate assurance engagement carried out by our audit firm and by the same

key statutory auditor who audits the consolidated financial statements.

Opinion on Corporate Governance Statement

In our opinion, the Group included information specified in paragraph 70 (6) item 5 of the Regulation on

Current Information in the corporate governance statement. Moreover, in our opinion, information specified

in paragraph 70 (6) item 5 c-f, h and i of this Regulation comprised in the corporate governance statement

is compliant with the applicable provisions and information contained in the consolidated financial

statements.

Other Information Statement

Moreover, according to our knowledge of the Group and its environment obtained during the audit, we

declare that we have not identified any material misstatement in the Group Management Report and the

Other Information.

Report on Other Legal and Regulatory Requirements

Opinion on the Compliance of the Marking up of the Consolidated Financial Statements

Prepared in the Single Electronic Reporting Format with the Requirements of the

Regulation on Technical Standards on the Specification of a Single Electronic Reporting

Format

In connection with the audit of the consolidated financial statements we have been engaged to perform an

assurance engagement to obtain reasonable assurance in order to express an opinion on whether the

consolidated financial statements of the Group as at 31 December 2024 prepared in the single electronic

reporting format (“consolidated financial statements in ESEF format”) were marked up in accordance with

the requirements specified in the Commission Delegated Regulation (EU) 2019/815 of 17 December 2018

Forvis Mazars Audyt Sp. z o.o. 10

supplementing Directive 2004/109/EC of the European Parliament and of the Council with regard to

regulatory technical standards on the specification of a single electronic reporting format (the “ESEF

Regulation”).

Identification of Criteria and Description of the Subject of the Engagement

The consolidated financial statements in ESEF format were prepared by the Parent Undertaking’s

Management Board in order to fulfil the criteria regarding the marking up and technical requirements

concerning the specification of single electronic reporting formal which are specified in the ESEF

Regulation.

The subject matter of our assurance engagement is the compliance of marking up of the consolidated

financial statements in ESEF format with the requirements of the ESEF Regulation, and the requirements

specified in these regulations form, in our opinion, adequate criteria to express our opinion.

Responsibilities of the Management Board and Supervisory Board of the Parent Undertaking

The Management Board is responsible for the preparation of the consolidated financial statements in

ESEF format in accordance with the requirements regarding the marking up and technical requirements

concerning the specification of single electronic reporting formal which are specified in the ESEF

Regulation. Such responsibility includes the selection and application of appropriate XBRL markups using

the taxonomy specified in these regulations.

The responsibility of the Management Board also includes the design, implementation and maintenance

of such internal control as determined to be necessary to enable the preparation of the consolidated

financial statements in ESEF format that are free from any material incompliance with the ESEF

Regulation.

Members of the Parent Undertaking’s Supervisory Board are responsible for supervising the financial

reporting process, including also the preparation of the financial statements according to the format

prescribed by applicable laws.

Statutory Auditor’s Responsibility

Our objective was to express an opinion, based on the performed assurance engagement providing

reasonable assurance that the consolidated financial statements in ESEF format were marked up in

accordance with the requirements of the ESEF Regulation.

We have performed our engagement in accordance with the National Standard on Assurance

Engagements for the audit of financial statements prepared in a single electronic format 3001PL (“NSAE

3001PL”), and where applicable, National Standard on Assurance Engagements Other than Audit and

Review 3000 (Revised) in the form of the International Standard on Assurance Engagements 3000

(Revised) – ‘Assurance Engagements Other than Audits or Reviews of Historical Financial Information

(“NSAE 3000 (R)”).

This standard imposes an obligation on the auditor to plan and execute procedures in order to obtain

reasonable assurance that the consolidated financial statements in ESEF format were prepared in

accordance with specified criteria.

Reasonable assurance is a high level of assurance but is not a guarantee that an engagement conducted

in accordance with the NSAE 3001PL, and where applicable NSAE 3000(R), will always detect a material

misstatement when it exists.

Forvis Mazars Audyt Sp. z o.o. 11

The procedures selected depend on the auditor’s judgment, including the assessment of the risk of

material misstatements due to fraud or error. When performing risk assessment and in order to design

procedures to be performed the auditor takes into consideration the internal controls related to the

preparation of the consolidated financial statements in ESEF format, which can provide the auditor with

sufficient and appropriate evidence. The assessment of the internal controls was not performed for the

purpose of expressing an opinion on the effectiveness of the internal control.

Summary of the Work Performed

Procedures planned and performed by us included:

• obtaining an understanding of the process of preparation of the consolidated financial statements

in ESEF format, including the process of selection and application of XBRL markups by the Parent

Undertaking and ensuring compliance with the ESEF Regulation, in which the understanding of

internal controls related to this process;

• reconciling of the marked-up information included in the consolidated financial statements in ESEF

format to the audited consolidated financial statements;

• using a specialised IT tool evaluating the compliance with technical standards concerning the

specification of single electronic format, evaluating the completeness of marking up information in

the consolidated financial statements in ESEF format using XBRL markups;

• evaluating the appropriateness of the use of XBRL markups from the taxonomy specified in the

ESEF Regulation and the creation of extension markups where no suitable element in the core

taxonomy specified in the ESEF Regulation has been identified;

• evaluating the appropriateness of anchoring of the applied taxonomy extensions to the core

taxonomy specified by the ESEF Regulation;

• testing the correctness of the mathematical calculations for particular items marked up using XBRL

markups.

We believe that the evidence we have obtained is sufficient and appropriate to provide a basis for our

opinion on the compliance of the marking up with requirements of the ESEF Regulation.

Ethical Requirements, Including Independence

While performing the engagement, the statutory auditor and the audit firm complied with the

independence requirements and other ethical requirements as specified by the Code of Ethics. The Code

of Ethics is based on the fundamental principles related to integrity, objectivity, professional competence

and due care, confidentiality and professional behaviour. We have also complied with other independence

and ethical requirements which are applicable to such assurance engagement in Poland.

Quality Control Requirements

The audit firm applies national standards on quality control introduced by the resolution of the Council of

the Polish Agency for Audit Oversight No. 38/I/2022 of 15 November 2022. National Standard on Quality

Control 1 as per International Standard on Quality Management (PL) 1 - “Quality Management for Firms

that Perform Audits or Reviews of Financial Statements, or Other Assurance or Related Services” requires

the audit firm to design, implement and operate a system of quality management, including policies or

procedures relating to compliance with ethical requirements, professional standards and applicable legal

Forvis Mazars Audyt Sp. z o.o. 12

Opinion on Compliance with ESEF Regulation Requirements

The matters described above constitute the basis for the auditor’s opinion which is why the opinion should

be read in conjunction with these matters.

In our opinion, the consolidated financial statements in ESEF format were marked up in all material

respects in accordance with the requirements of the ESEF Regulation.

Information on Observing Applicable Prudential Regulations

The Parent Undertaking’s Management Board is responsible for ensuring the compliance of the Group’s

operations with prudential regulations, in which for the correct determination of capital ratios.

Our responsibility is to communicate in the auditor’s report whether the Group complies with applicable

prudential regulations, defined in separate provisions, and in particular whether the Group correctly

determined the capital ratios presented in "Risk and capital management" in note I.3.4. Capital ratios.

The purpose of the audit of the financial statements was not to express an opinion on the Group’s

compliance with applicable prudential regulations and therefore we do not express such an opinion.

Based on our audit of the financial statements we would like to inform you that we have not identified any

breaches of applicable prudential regulations by the Group in the period from 1 January 2024 to

31 December 2024, defined by separate provisions, in particular with respect to the correctness of the

determination of capital ratios as at 31 December 2024 by the Group, which could have a significant impact

on the consolidated financial statements.

Statement about Provision of Non-Audit Services

According to our best knowledge and belief we declare that non-audit services that we have provided to

the Group comply with laws and regulations applicable in Poland and that we have not provided any non-

audit services that are prohibited pursuant to Article 5 (1) of the EU Regulation and Article 136 of the Act

on Statutory Auditors. Non-audit services that we provided to the Group during the audited period were

specified in section Selection of an entity authorized to audit financial statements of the Group

Management Report.

Appointment of an Audit Firm

We were appointed to conduct the audit of the Group’s consolidated financial statements based on the

resolution of the Parent Undertaking’s Supervisory Board of 9 December 2022. We have been auditing

the consolidated financial statements of the Group continuously, starting from the financial year ended 31

December 2023, i.e. for 2 consecutive years.

Forvis Mazars Audyt Sp. z o.o. 13

The key statutory auditor responsible for the audit that was the base of this independent statutory auditor’s

report is Małgorzata Pek.

Acting on behalf of Forvis Mazars Audyt Sp. z o.o. with its registered office in Warsaw, ul. Piękna 18,

entered on the list of audit firms under the no. 186, on behalf of which the key statutory auditor audited the

consolidated financial statements.

Małgorzata Pek

Key Statutory Auditor

No 13070

Warsaw, 7 March 2025