Ladies and Gentlemen,

The year 2024 marked a period of new beginnings for the PKO Bank Polski Group, as we concentrated on a strategy centred on growth and development. Furthermore, by capitalising on the favourable economic situation and our competitive advantages, we strengthened our position as the undisputed leader among financial institutions operating in Poland. This is confirmed by the 9,6 per cent increase in financing gross granted to our clients (up to 294 billion PLN), the increase in the value of savings entrusted to us by our clients (up to 604 billion PLN), very good risk indicators with CoR (39 bp), an increase in the balance sheet total to 525 billion PLN and a record net result. A number of our subsidiaries also achieved very good results.

This allows us to adopt a long-term view, including the accumulation of capital needed to co-finance the anticipated investment boom in Poland. This boom will be driven by the necessary transformation of the Polish energy system and a programme of large-scale public investment in critical infrastructure and national security. In addition to government programmes, we are fully prepared to finance the needs of Polish entrepreneurs and support the expansion of their companies into foreign markets. We also offer state-of-the-art solutions for individual clients and participate in the largest equity and debt transactions in our country.

I would like to emphasise that we want to respond to the needs of Polish entrepreneurs. They are already supported on a daily basis by our corporate branches in Germany, the Czech Republic, Slovakia and Romania, as well as Kredobank – our bank operating in Ukraine. We are available to entrepreneurs, government and local government institutions, as well as individual clients on a scale unattainable by any other bank in Poland – both through market-leading mobile banking and a rapidly modernised network of branches and agencies operating in 97 per cent of counties throughout Poland.

Today, the PKO Bank Polski Capital Group is the undisputed leader in banking and leasing services and the investment fund market in Poland, but also an aspiring market player in the areas of insurance, factoring and pension fund collection services. We still have an appetite for more. This is reflected in the systematic implementation of the Group’s new strategy for 2025-2027, Number One and Fullstop, announced last October.

It assumes a partial change in our Group’s business model through the implementation of seven specific business and four financial objectives, based on activities within seven pillars. The business model outlined in the new strategy is adequate to geopolitical, social and technological challenges. It responds to the daily expectations of our clients, who expect convenient and widely available financial services, and addresses the current challenges facing the Group.

It is very important to me that nearly 90 per cent of our employees are aware of the organisation’s strategic goals, and that 80 per cent identify with our direction for further development: to be as customer-oriented as possible. I am convinced that in financial services, everything begins and ends with the client – a comprehensive response to their needs, a sense of security and the ability to build lasting relationships. Therefore, our overriding task for the coming years is to respond to the needs of our clients and business partners in a completely new way. We want to be a catalyst for an entrepreneurial mindset and the most agile way of working possible. We will also make better use of our greatest resources, including the market position and trust associated with the PKO Bank Polski brand. This trust is confirmed by independent research, for which I would like to thank all our Clients.

Last year clearly demonstrated that we are achieving our goals. One piece of evidence is our promotion to the Top 3 in the NPS ranking of the most recommended Polish banks, both by individual clients and by the enterprise and corporate segments. This would not have been possible without the commitment of our Employees. Through your daily work, you earn the trust of our 12 million clients and make PKO Bank Polski an institution ready to take on new challenges. Thank you very much for that.

I would also like to thank our Shareholders and Investors for the trust they have placed in us and their belief in our strong foundations and growth potential. This is evidenced, among other things, by the conditions under which we place our securities on the Polish and foreign markets.

We have had a very good year. PKO Bank Polski: Number One and Fullstop.

Szymon Midera

President of the Management Board of PKO Bank Polski