Annual report
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Letter from the President of the Management Board to shareholders Dear Shareholders, 2025 was another successful year for the banking sector in Poland and for the Bank Pekao Group (Bank Pekao, Bank). The banking sector recorded a record annual profit, estimated at over PLN 45 billion, and Bank Pekao generated its highest ever net profit amounting to PLN 7.0 billion. A key factor in this was the level of interest rates and a stable interest margin, which, combined with growing volumes thanks to the Bank's commercial activities, significantly translated into profitability. The banks' interest margin was positively impacted by the sector's excess liquidity; the excess of deposits over loans enabled them to maintain their interest margin despite the decline in interest rates. Interest income from bonds contributed to net interest income. The favorable economic climate and the situation in the labor market supported low risk costs. Individual entities, industries, and sectors affected by idiosyncratic problems did not have a significant enough impact on the quality of business and corporate loans to significantly impact the cost of risk. The rapid decline in inflation paved the way for interest rate cuts, and after a nearly two- year hiatus, the Monetary Policy Council (MPC) returned to a cycle of monetary easing, lowering interest rates by 1.75 percentage points, from 5.75% at the beginning of 2025 to 4% at the end. The interest rate cuts were concentrated in the second half of the year, so banks' revenues and results do not fully reflect their negative impact.
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The lower the level of interest rates, the greater the sensitivity to interest rate changes. We forecast that economic growth will accelerate to 4.0% in 2026. This will be driven by deferred investments – particularly public investments – as well as private consumption and exports. A significant factor in economic growth and lower inflation is a certain improvement in labor market equilibrium and the consequent slowdown in wage growth. Inflation will fall below target, allowing the Monetary Policy Council (MPC) to continue its monetary policy easing cycle. We forecast that the MPC will end its monetary policy easing cycle in the first half of this year, lowering interest rates to 3.25%.
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We expect demand for bank financing to increase, and 2026 will be a year of acceleration in all important credit categories, especially corporate credit, thanks to the boom associated with the National Recovery and Resilience Plan (KPO). Although the banking sector remains a key source of financing for the economy – accounting for over 80% of external financing for businesses – its capabilities are not limitless. In the context of large infrastructure projects, the ability of the domestic banking sector to finance these projects remains a challenge. Due to the size of the banking sector, domestic banks' share in financing the largest investments (nuclear power plant, Port Polska Airport) will be limited to approximately one-third to one-half of the funds required. Bank Pekao has an important role to play here. Bank Pekao's outstanding and unique expertise in corporate financing positions it well for the investment cycle. For the largest transactions, the Bank's appetite may be curbed by constraints and limits resulting from its capital endowment. Against this rather positive background, however, there are several negative phenomena observable in the banking sector that raise my concerns for the future: • legal instability in the area of contractual and tax relations. The uncertainty of the legal environment has two dimensions – the first concerns the costs of legal risk, and the second concerns the limited predictability of national regulations. This regulatory instability hinders the development of long-term strategies for developing financial services offerings due to the potential for unexpected costs, • high and growing share of government bonds on banks' balance sheets,
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• growing level of social acceptance of consumer abuse in the financial sector,• disproportionate consumer protection – both at the pan-European and domestic levels, regulations and their enforcement practices lead to a lack of equality of parties in contractual relations between banks and their clients. This forces banks to bureaucratize documentation of customer relationships and contributes to the creation of a lucrative legal business, • persistent uncertainty surrounding the reform of interest rate benchmarks (WIBOR), • an increase in the CIT rate for banks to 30% – a significant portion of banks' costs, and primarily the bank tax, do not constitute costs under tax regulations, thus the effective corporate income tax rate for banks will therefore be ca. 40-50%,
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• the banking sector's limited ability to rebuild its capital base – in a situation of declining profitability, higher taxes, and dividend payments, banks will be able to rebuild their equity capital to a limited extent, • early refinancing of mortgage loans with periodically fixed interest rates, in the absence of an institutional system ensuring the adequacy of the benefits and costs of such refinancing, will inevitably lead to costs that will unjustifiably burden a certain group of banks or customers, • given the large scale of excess liquidity in the banking sector, fierce competition, and questionable competitive practices reduce interest margins on corporate financing to levels where there is less and less room to account for credit risk at a rational level, • the flawed design of the bank tax, which makes its amount dependent on assets and penalizes the development of lending, while encouraging corporate borrowers to finance incurred under other regulatory and legal regimes, excluding Polish banks, • a potential decline in the rate of return on capital to around or below the cost of capital – as a reminder, although the nominal numbers may be impressive, the sector employs over PLN 300 billion of equity capital, with the cost of capital currently estimated at approximately 12%. As recently as 2020, the sector was struggling to generate positive results, and over the past decade (since 2015), it has achieved profitability above the cost of capital only in 2024. The lack of understanding of the need for adequate capitalization in the banking sector may prove to be a significant limitation in financing the development capacity of the Polish economy in the coming years.
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The Bank's Financial Results The Bank's operating income in 2025 amounted to PLN 17.2 billion, 7% higher than the previous year. Both net interest and fee and commission income contributed positively to this growth. Net interest income reached PLN 13.7 billion, 6% higher, thanks to higher volumes and a stable interest margin. Compared to its peer group, the Bank is relatively less sensitive to interest rate changes. Net fee and commission income in 2025 amounted to PLN 3.2 billion, 11% higher than the previous year, growing in all categories, but primarily in the mutual fund, brokerage and investment banking. Operating costs, despite increased spending on digitalization and marketing, remained under control. In 2025, they amounted to PLN 5.5 billion (excluding the Bank Guarantee Fund), 5% higher than the previous year. Payroll costs decreased by 1% year-on-year,
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primarily due to variable costs, while employment in the Capital Group decreased by 2%. Other administrative costs, including depreciation and amortization, increased by 17% year-on-year, primarily due to higher depreciation, IT and marketing costs, and lower real estate costs. Bank Guarantee Fund (BFG) contributions increased significantly, by 61% year-on-year. Net provisions for expected credit losses decreased to PLN 0.8 billion, a 14% year-on- year decrease. Risk costs amounted to 0.39%, a decrease of 0.09 percentage points compared to the previous year. Bank tax-related costs amounted to PLN 0.9 billion. Corporate income tax (CIT) was PLN 1.9 billion, with the tax being PLN 0.5 billion higher due to the impact of costs that are not included in tax expenses under tax regulations. The change in tax rates (from 19% to 30%) resulted in a one-time reduction of the tax by PLN 0.2 billion in 2025. The effective CIT rate was 22%, but without the one-time impact of the rate change, it would have been 24%. In 2025, the Bank Pekao Group generated PLN 7,019 million in net profit, of which PLN 7,015 million was attributable to Bank Pekao shareholders. The return on equity (ROE) was 21.4%. Distributable standalone profit, from which a dividend will be paid depending on the shareholder resolution, amounted to PLN 6,922 million. 2025 brought strong growth in lending. The volume (balance) of retail loans increased by 5% year-on-year to PLN 88 billion, including cash loans, which increased by 13% year-on-year to PLN 14 billion, and mortgage loans, which increased by 4% year-on-year to PLN 70 billion. The corporate loan portfolio recorded higher growth dynamics in 2025, increasing by 11% year-on-year to PLN 114 billion, with MID and SME loans increasing by 13% year-on-year and corporate loans by 10% year-on-year.
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Market Position Despite growing and intensifying competition – new players have emerged, and banks most affected by the problem of foreign currency mortgages have returned to the game – Bank Pekao has begun the process of rebuilding market share in key segments from profitability standpoint. The bank's market shares in loan balances at the end of 2025 were as follows: • PEX (cash) 7.3% (+0.2 percentage points year-on-year), • mortgages 13.4% (-0.2 percentage points year-on-year), • corporates 15.1% (+0.7 percentage points year-on-year).
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Mortgage loans, where the Bank's share is declining slightly, are attracting attention, particularly the phenomenon of early repayments in periodically fixed-rate loans. The demographic structure of the Bank's client base – an overrepresentation of older and younger clients – necessitates offering these loans to clients outside the Bank. We regained our leading position in Factoring and advanced one position in Leasing. 2025 should be considered a good year for investment product sales – record sales of investment products. I expect we will be able to maintain and consolidate these trends in 2026. In 2025, the Bank organized the issuance of non-treasury debt securities (corporate, bank and municipal) for a total amount of PLN 62 billion. The Bank has received numerous awards and distinctions. Our activities in corporate finance, investment banking, and trade finance have been recognized by Global Finance as "The Best Investment Bank in Poland for 2025," "The Best Bank for Sustainable Finance in Poland for 2025," "Best Trade Finance Provider in Poland," and for the thirteenth time, the bank received the "Best Sub-Custodian Bank" distinction, confirming Bank Pekao's stable position as a leader in the Polish custody services market and the high quality of its services. The results of the EBA stress tests were a positive surprise, finding Bank Pekao the most resilient to negative macroeconomic scenarios in Europe out of 64 covered by the study. Most importantly, we received a higher rating from our clients. We were ranked 5th in the benchmark (an increase of two positions in the ranking at the end of 2025 compared to the previous year) for individual clients, with an NPS score of 15.
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Dividends and Capital Bank Pekao has a long tradition of paying dividends. Over the past quarter-century, only in two (exceptional) years has Bank Pekao not paid a dividend; in fact, it was postponed and paid in a different year. The dividend policy, set out in Bank Pekao's Strategy for 2025-27, assumes maintaining a high dividend rate of 50-75% of net profit in each year of the strategy's duration. Last year, in accordance with a resolution passed by shareholders, Bank Pekao paid 75% of its dividend. We allocated PLN 4.8 billion of generated profit for dividends and retained PLN 1.6 billion in the Bank as reserve capital.
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In 2025, Bank Pekao successfully completed three eurobond issues with a total value of EUR 1.5 billion, placing them on exceptionally favorable terms for the Bank. Very strong investor demand and attractive valuations confirmed the market's confidence in our strategy and capital position. We intend to continue as frequent issuer. As a result of the Bank's commercial activity and increased lending, risk-weighted assets increased by 8% year-on-year. In Q3 2025, the countercyclical buffer increased by 1 percentage point and it will increase by another percentage point in 2026. As a result, the total capital requirement for the Bank at the end of the year will be 13.5% – with other buffers remaining unchanged. Strategy At the beginning of last year, we on our own developed a short-term strategy for 2025-27, titled " The only way is up". We adopted it in April and consistently strived to implement all three pillars in the following months: • GROWTH through dynamic loan growth and customer acquisition (especially young customers), • ACCESSIBILITY, focusing on strengthening mobile banking and developing conversational banking, • EFFICIENCY, ensuring high profitability and operational effectiveness. One could say that the "directions of attack" have been set, and from this perspective, the past year was a period of acceleration. Reorganization of the PZU and Pekao Groups
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In June 2025, steps were announced to reorganize the PZU-Pekao Group (conglomerate), with the intention of freeing up significant capital exceeding PLN 20 billion. This is a complex and demanding process, involving many stakeholders. As this is not an operational merger but merely a share swap, it requires little resource commitment or attention from the Bank. However, it is important for both groups, and we hope it will be consistently implemented this year. The potential equity capital released as a result of the reorganization at the conglomerate level, amounting to over PLN 20 billion, makes this transaction impossible to ignore. The possibility of releasing such significant capital demonstrates the scale and
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attractiveness of this reorganization. Building the base, or capital surplus, that could arise relatively quickly as a result of the reorganization would take 10-20 years. The reorganization of the Pekao and PZU capital groups would strategically position the conglomerate (bank and insurer) in line with the dominant European bancassurance model, with the bank acting as the parent entity and regulatory preferences for many years into the future. Environmental and Social Issues (ESG) In the face of the intensifying geopolitical situation and growing international tensions, I am observing a clear shift in emphasis in the public and regulatory debate. ESG issues – until recently the focus of policymakers, investors, and the public – are gradually giving way to issues related to economic security, supply stability, the resilience of critical infrastructure, and Europe's strategic autonomy. The years 2024 and 2025 brought a series of decisions that effectively confirmed this trend: the EU's Omnibus packages and the discussion surrounding the simplification of ESG reporting obligations indicate that reducing regulatory burdens and strengthening corporate competitiveness have become a priority. At the same time, pressure is growing to increase defense spending and security-supporting investments, which in practice limits the space for the most ambitious and costly elements of the climate agenda. However, this does not mean a shift away from ESG, but rather a more pragmatic and balanced approach to its implementation. This is visible both in the regulatory and market spheres: corporate governance and social responsibility issues remain key, while environmental requirements are gradually being rationalized – This is particularly true
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where previous approaches proved excessively complex or disproportionate to the potential benefits. In this context, a responsible approach to ESG today involves striking the right balance between transformation goals and the realities of an economy operating under conditions of increased geopolitical uncertainty. This means, among other things, the need to consistently manage ESG risks while avoiding excessive bureaucracy and focusing on activities that do not translate into lasting value for customers, shareholders, or the economy. Please refer to our Sustainability Statement. The report summarizes our sustainable development efforts and demonstrates our commitment to achieving goals related to environmental protection, social responsibility, and corporate governance.
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Audit and Irregularities At the request of the Supervisory Board of Bank Pekao – as part of the review of the Bank's operations – specialized entities conducted detailed analyses of the Bank's operations in recent years, particularly in the areas of marketing, sponsorship, and employee employment. The findings revealed irregularities, including e.g. the instrumental use of marketing funds, the diversion of funds to politically motivated initiatives, the lack of reliable expenditure control, and the employment of individuals with questionable qualifications. Most of the above-mentioned reprehensible phenomena did not constitute a direct and obvious violation of public law in a commercial institution such as a bank. A significant portion of them fell within the framework established by Bank Pekao's internal procedures, policies, and regulations. The fact that certain actions did not violate public law does not change their unequivocally negative assessment, both from a moral perspective and from the managerial skills that should characterize management board members and bank managers. Remedial actions were taken, and their consequences include: • claims against fictitiously employed advisors, • lack of discharge recommendations and denial of bonus payments to former management board members, • denial of deferred bonuses to other involved individuals, • strengthening hiring and competency verification procedures. Respecting transparent, non-political principles for the implementation of the marketing
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and sponsorship budget is the foundation of public trust and the responsibility of a financial institution. Last year, we updated the Group's Code of Conduct. Clear ethical principles help us act in accordance with the seven values we have adopted and which are important to us: SIMPLY, TOGETHER, BOLDLY, RESPONSIBLY, WITH DETERMINATION, OPENLY, and HONESTLY. Summary The upcoming centennial of Bank Pekao in 2029 is a natural moment when we are laying the foundations for the next decade. Its importance to the organization's identity and marketing potential cannot be overestimated.
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It so happens that Bank Pekao is struggling with its own identity, as market research clearly indicates. The actions taken by the bank with the identical phonetic name further encourage us to think proactively and work on a new image to create a new face for the Bank in its relations with customers and the market. In summary, it was a good year for Bank Pekao, but we must all recognize that market realities, including higher taxation on banks, mean that such results will likely be difficult to maintain in the long run. We remain ready to support businesses, households, and key investments that will shape the future of our economy. Simultaneously, we are closely monitoring regulatory and legal risks that may impact the stability of the sector, actively participating in dialogue with regulators for solutions that support the security and development of the financial market. I thank our employees for their professionalism and commitment, without which all this would not have been possible. I thank our shareholders for the trust you have placed in us and your belief in the value and development potential of Bank Pekao. I thank the Supervisory Board for their support and good cooperation. Thank you and congratulations to my colleagues on the Management Board. In 2026, we face many challenges, but also opportunities that we can seize together. Sincerely, Cezary Stypułkowski
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SELECTED CONSOLIDATED FINANCIAL DATA OF BANK PEKAO S.A. GROUP INCOME STATEMENT PLN million EUR million 2025 2024 2025 2024 Net interest income 13 693 12 729 3 232 2 957 Net fee and commission income 3 154 2 854 744 663 Profit before income tax 8 961 8 123 2 115 1 887 Net profit 7 019 6 379 1 657 1 482 Net profit attributable to equity holders of the Bank 7 015 6 376 1 656 1 481 Net profit attributable to non-controlling interests 4 3 1 1 Basic earnings per share (in PLN\EUR) 26.73 24.29 6.31 5.64 Diluted earnings per share (in PLN\EUR) 26.73 24.29 6.31 5.64 Paid dividend per share (in PLN\EUR) 18.36 19.20 4.33 4.46 CASH FLOW STATEMENT PLN million EUR million 2025 2024 2025 2024 Net cash flows from operating activities 9 269 24 660 2 188 5 729 Net cash flows from investing activities (12 503) (26 488) (2 951) (6 154) Net cash flows from financing activities 981 1 382 232 321 Net change in cash and cash equivalents (2 253) (446) (532) (104) STATEMENT OF FINANCIAL POSITION PLN million EUR million 31.12.2025 31.12.2024 RESTATED 31.12.2025 31.12.2024 RESTATED Total assets 352 233 334 242 83 335 78 222 Amounts due to other banks 5 748 7 344 1 360 1 719 Amounts due to customers 269 552 260 035 63 774 60 855 Non-controlling interest 14 13 3 3 Equity attributable to equity holders of the Bank 35 348 31 901 8 363 7 466 Share capital 262 262 62 61 Number of shares 262 470 034 262 470 034 262 470 034 262 470 034 Book value per share (in PLN\EUR) 134.67 121.54 31.86 28.44 Diluted book value per share (in PLN\EUR) 134.67 121.54 31.86 28.44 CAPITAL ADEQUACY PLN million EUR million 31.12.2025 31.12.2024 (*) 31.12.2025 31.12.2024 (*) Total capital ratio (%) 16.4 16.8 16.4 16.8 Risk weighted assets 177 129 166 946 41 907 39 070 Core funds (Tier 1) 26 642 25 889 6 303 6 059 Supplementary funds (Tier 2) 2 464 2 074 583 485 (*) Data for 31 December 2024 have been recalculated taking into account the retrospective inclusion of a portion of the 2024 pro fit (after the General Meeting's distribution of the net profit), in accordance with the EBA's position expressed in Q&A 2018_3822 and Q&A 2018_4085. The following exchange rates were used in translation selected financial data from PLN to EUR: • for balance sheet items – an exchange rate announced by the National Bank of Poland as at 31 December 202 5 - 1 EUR = 4. 2267 PLN and as at 31 December 2024 - 1 EUR = 4.2730 PLN, • for profit and loss account items , for cash flows items and for dividend calculation – an exchange rate calculated as the arithmetic average value of exchange rates announced by the National Bank of Poland as at the end of each month of 202 5 and 2024 respectively - 1 EUR = 4.2372 PLN and 1 EUR = 4.3042 PLN.
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This document is not an official version of Report on the activities of Bank Pekao S.A. Group for the year 202 5. In case of any doubt or discrepancy, the official version of Report on the activities of Bank Pekao S.A. Group for the year 202 5 prepared in accordance with the requirements of the ESEF and available on the Bank's website shall prevail . This document is a free translation of the Polish original. Terminology current in Anglo-Saxon countries has been used where practicable for the purposes of this translation in order to aid understanding. The binding Polish original should be referre d to in matters of interpretation. Report on the activities of Bank Pekao S.A. Group for the year 2025 (prepared jointly with the Report on the activities of Bank Pekao S.A.) Warsaw, February 2026
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2 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 1. Highlights of Bank Pekao S.A. Group ..................................................................................................................................................................... 3 2. Highlights of Bank Pekao S.A. ................................................................................................................................................................................. 4 3. Highlights and Summary of Performance ............................................................................................................................................................... 5 4. External Activity Conditions ..................................................................................................................................................................................... 7 4.1 Important factors influencing the Group’s activities and results ............................................................................................................................ 11 5. Organizational Structure ......................................................................................................................................................................................... 12 5.1 Changes in the Bank Pekao S.A. Group ............................................................................................................................................................... 12 5.2 Changes in the Statutory Bodies of the Bank ........................................................................................................................................................ 13 5.3 Organizational changes ......................................................................................................................................................................................... 14 6. Information for the Investors .................................................................................................................................................................................. 15 6.1 The Bank’s share capital and share ownership structure...................................................................................................................................... 15 6.2 Performance of market valuation of Bank Pekao S.A.’s stock .............................................................................................................................. 16 6.3 Dividend payment history....................................................................................................................................................................................... 17 6.4 Investor Relations .................................................................................................................................................................................................. 17 6.5 Financial credibility ratings ..................................................................................................................................................................................... 17 7. Activity of Bank Pekao S.A. Group ........................................................................................................................................................................ 19 7.1 Bank Pekao S.A. on the Polish banking market .................................................................................................................................................... 19 Retail Banking And Private Banking ................................................................................................................................................................. 22 Enterprise Banking .............................................................................................................................................................................................. 28 Corporate And Investment Banking .................................................................................................................................................................. 29 7.2 Major areas of activities of the Group’s subsidiaries ............................................................................................................................................. 34 Summary of companies' financial results ......................................................................................................................................................... 34 Business activities of selected companies....................................................................................................................................................... 34 7.3 Awards and distinctions ......................................................................................................................................................................................... 37 7.4 Investing in human capital ..................................................................................................................................................................................... 39 7.5 Sponsorship and charity policy .............................................................................................................................................................................. 46 7.6 Major sources of risk and threats ........................................................................................................................................................................... 48 7.7 Capital adequacy ................................................................................................................................................................................................... 52 8. Prospects for Development .................................................................................................................................................................................... 54 8.1 Strategic directions and business priorities ........................................................................................................................................................... 54 8.2 Factors which will affect the results of the Group .................................................................................................................................................. 58 9. Statement of Financial Position and Financial Results ....................................................................................................................................... 60 9.1 The consolidated income statement – presentation form...................................................................................................................................... 60 9.2 Structure of the consolidated statement of financial position – short form ............................................................................................................ 64 10. Separate Statement of Financial Position and Financial Results ...................................................................................................................... 69 10.1 The Separate income statement – presentation form ........................................................................................................................................... 69 10.2 Structure of the separate statement of financial position – short form .................................................................................................................. 72 11. Other Information ..................................................................................................................................................................................................... 76 12. Statement of Bank Polska Kasa Opieki Spółka Akcyjna on the application of corporate governance principles in 2025 ......................... 82 13. Sustainability Statement of the Bank Pekao S.A. Group for 2025 ................................................................................................................... 111 13.1 General information ............................................................................................................................................................................................. 111 13.1.1 Basis for preparation of the Sustainability Statement [BP-1] [BP-2] ................................................................................................ 111 13.1.2 Corporate governance...................................................................................................................................................................... 113 13.1.3 Bank’s Strategy ................................................................................................................................................................................ 121 13.1.4 Managing Impacts, risks and opportunities...................................................................................................................................... 144 13.2 Environmental information – climate change [ESRS E-1] ................................................................................................................................... 159 13.2.1 Managing impacts, risks and opportunities ...................................................................................................................................... 159 13.2.2 Metrics and targets ........................................................................................................................................................................... 173 13.2.3 EU Taxonomy ................................................................................................................................................................................... 180 13.3 Information relating to social matters ................................................................................................................................................................... 294 13.3.1 Own workforce [ESRS S1] ............................................................................................................................................................... 294 13.3.2 Consumers and end-users [ESRS S4] ............................................................................................................................................ 313 13.4 Corporate governance-related information – business conduct [ESRS G1] ....................................................................................................... 330 13.4.1 Managing impacts, risks and opportunities ...................................................................................................................................... 330 13.4.2 Metrics and targets ........................................................................................................................................................................... 340
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3 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 1. Highlights of Bank Pekao S.A. Group 2025 2024 2023 2022 2021 2020 INCOME STATEMENT – SELECTED ITEMS (in PLN million) Operating income 17,165 16,049 15,200 10,664 8,522 7,796 Operating costs (5,530) (5,244) (4,631) (3,987) (3,739) (3,451) Profit before income tax 8,961 8,123 8,565 2,882 3,002 1,725 Net profit attributable to equity holders of the Bank 7,015 6,376 6,659 1,717 2,175 1,102 PROFITABILITY RATIOS Return on average equity (ROE) – nominally 21.4% 21.2% 25.0% 7.6% 8.7% 4.5% Return on assets (ROA) 2.1% 2.0% 2.2% 0.6% 0.9% 0.5% Net interest margin 4.2% 4.2% 4.2% 3.3% 2.4% 2.5% Cost / income (including to contributions to the BFG) 34.5% 34.2% 31.7% 44.4% 47.3% 49.2% Costs of risk 0.39% 0.48% 0.36% 1.12% 0.45% 0.99% STATEMENT OF FINANCIAL POSITION – SELECTED ITEMS (in PLN million) Total assets 352,233 334,242 305,789 281,139 250,567 233,217 Customers’ financing(*) 197,343 182,158 171,140 167,509 169,073 151,684 Amounts due to customers(**) 268,463 259,034 232,078 209,596 194,804 177,745 Debt securities issued 20,265 16,167 9,958 10,337 5,355 6,147 Subordinated liabilities 5,642 2,782 2,781 2,789 2,762 2,758 Equity 35,362 31,914 30,428 22,774 23,863 25,495 STATEMENT OF FINANCIAL POSITION STRUCTURE RATIOS Customers’ financing (*) / total assets 56.0% 54.5% 56.0% 59.6% 67.5% 65.0% Securities / total assets 34.8% 35.8% 32.7% 25.3% 22.9% 26.7% Deposits (***) / total assets 83.6% 83.2% 80.1% 79.2% 81.0% 80.0% Customers’ financing (*) / deposits (***) 67.0% 65.5% 69.9% 75.2% 83.3% 81.3% Equity / total assets 10.0% 9.5% 10.0% 8.1% 9.5% 10.9% Total capital ratio 16.4% 16.8% 17.5% 17.8% 17.7% 19.2% EMPLOYEES AND NETWORK Total number of employees 14,911 15,212 14,922 14,443 14,429 14,984 Number of outlets 560 573 574 597 650 713 Number of ATMs 1,363 1,314 1,306 1,328 1,475 1,592 (*) Including net investments in financial leases to customers, non-treasury debt securities and excluding reverse repo transactions. (**) Excluding repo transactions. (***) Deposits include amounts due to customers, debt securities issued and subordinated liabilities. (****) Data for December 31, 2024 have been recalculated taking into account the retrospective recognition of part of the profit for 2024 (after confirmation of the financial results by the General Shareholders Meeting), in accordance with the EBA position expressed in Q&A 2018_3822 and Q&A 2018_4085.
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4 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 2. Highlights of Bank Pekao S.A. 2025 2024 2023 2022 2021 2020 INCOME STATEMENT – SELECTED ITEMS (in PLN million) Operating income 16,318 15,290 14,657 10,320 8,084 7,454 Operating costs (5,083) (4,794) (4,230) (3,658) (3,438) (3,169) Profit before income tax 8,739 8,105 8,643 3,012 2,995 1,697 Net profit 6,922 6,425 6,799 1,898 2,237 1,126 PROFITABILITY RATIOS Return on average equity (ROE) - nominally 21.4% 21.7% 26.0% 8.7% 9.2% 4.8% Return on assets (ROA) 2.1% 2.1% 2.4% 0.73% 0.9% 0.5% Net interest margin 4.2% 4.2% 4.3% 3.3% 2.4% 2.5% Cost / income (including to contributions to the BFG cost and fee paid for the Protection Schemes) 33.5% 32.9% 30.1% 42.7% 46.1% 47.6% Costs of risk 0.34% 0.38% 0.32% 1.12% 0.41% 1.03% STATEMENT OF FINANCIAL POSITION – SELECTED ITEMS (in PLN million) Total assets 337,858 319,251 294,552 271,703 241,275 222,381 Customers’ financing(*) 179,485 165,435 157,406 155,477 157,783 139,926 Amounts due to customers(**) 268,834 259,523 232,307 209,803 195,064 178,276 Debt securities issued 10,006 6,542 4,078 5,894 178 523 Subordinated liabilities 5,642 2,782 2,781 2,789 2,762 2,758 Equity 34,855 31,516 29,987 22,189 23,100 24,647 STATEMENT OF FINANCIAL POSITION STRUCTURE RATIOS Customers’ financing (*) / total assets 53.1% 51.8% 53.4% 57.2% 65.4% 62.9% Securities / total assets 37.0% 37.9% 34.5% 26.8% 24.2% 28.2% Deposits (***) / total assets 84.2% 84.2% 81.2% 80.4% 82.1% 81.6% Customers’ financing (*) / deposits (***) 63.1% 61.5% 65.8% 71.2% 79.7% 77.1% Equity / total assets 10.3% 9.9% 10.2% 8.2% 9.6% 11.1% Total capital ratio (****) 18.7% 19.3% 20.1% 19.9% 19.6% 21.3% EMPLOYEES AND NETWORK Total number of employees (*****) 13,765 12,626 12,470 12,234 12,400 12,866 Number of outlets 560 573 574 597 650 713 Number of ATMs 1,363 1,314 1,306 1,328 1,475 1,592 (*) Including non-treasury debt securities and excluding reverse repo transactions. (**) Excluding repo transactions. (***) Deposits include amounts due to customers, debt securities issued and subordinated liabilities. (****) Data for December 31, 2024 have been recalculated taking into account the retrospective recognition of part of the profit for 2024 (after confirmation of the financial results by the General Shareholders Meeting), in accordance with the EBA position expressed in Q&A 2018_3822 and Q&A 2018_4085. (*****) The increase in employment results from the consolidation of customer contact channels within the Group - the Bank's takeover of Pekao Direct employees under Article 231 of the Labor Code.
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5 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 3. Highlights and Summary of Performance Key Initiatives New strategy for 2025-2027 We have announced the "… the only way is up!" " strategy for 2025 -2027. The strategy is based on three pillars: Growth, Accessibility and Efficiency. The key objectives include achieving an ROE greater than 18%, a C/I ratio lower than 35%, a cost of risk in the range of 65-75 bps and maintaining a dividend payout policy of 50-75% of profit. Strong capital position and financial stability We have maintained a strong capital position thanks to effective capital management and the use of modern financial instruments. Once again, we were among the most resilient institutions in Europe in the EBA's stress tests, confirming our financial stability. Green bond issuance We issued EUR 500 million worth of green Eurobonds, strengthening our position on the international capital market. We used the funds raised to ESG-compliant projects, including blue initiatives supporting environmental sustainability. Continuation of work on the reorganization of the PZU Group and Pekao We signed an annex to the Term Sheet with PZU, which extended the deadline for completing the PZU Group's reorganization until December 2027 in order to adapt the schedule to the legislative process. The reorganization aims to simplify the group' s structure, increase efficiency and integrate key business areas. We cooperated with PZU, focusing on achieving strategic goals and ensuring benefits for clients and shareholders. Developing the offer for customers We increased our commercial activities, actively supported our clients in maintaining financial liquidity, and continued to digitize and automate processes by implementing advanced digital solutions. We have also expanded our product offer, responding to the needs of both individual and business customers. We opened 497.5 thousand Kont Przekorzystnych and Świat Premium Accounts, including 172.5 thousand for clients up to 26 years of age, which constitutes 35% of accounts. The number of active mobile banking customers increased by 294 thousand to 3.7 million, i.e. +9% more than a year ago and +19% more than two years ago. We have extended a special offer for individual and corporate customers from Ukraine. Main P&L items In 2025, the net profit of the Bank Pekao S.A. Group attributable to the Bank’s shareholders amounted to PLN 7,015 million and was higher by PLN 639 million, i.e. 10.0% compared to the result achieved in 2024. This was the highest result achieved in the Group's operations to date. The results of 2025 include the establishment of provisions for consumer protection matters in the amount of PLN -202 million net, higher by PLN 150 million y/y, and the revaluation of deferred tax assets, with a positive impact on net profit in the amount of PLN 179 million. The ROE ratio was at the level of 21.4%. (*) the 2024 results include the costs of credit holidays in the amount of PLN 153 million. (**) excluding the cost of consumer protection provisions.
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6 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 The Group’s operating income in 2025 amounted to PLN 17,165 million and was 7.0% higher than in 2024, mainly due to net interest income and net fee and commission income, which was driven by volume increases and increased customer activity. - Net interest income in 2025 amounted to PLN 13,693 million and was higher by PLN 964 million, i.e. 7.6%, compared to the result achieved in 2024, mainly due to higher volumes, especially in strategic product areas and higher interest margin, with continued high liquidity and lower costs of deposits. The 2024 results include the costs of credit holidays in the amount of PLN 153 million. - Net fee and commission income generated in 2025 amounted to PLN 3,154 million and was higher by PLN 300 million, i.e. 10.5% compared to the result achieved in 2024, thanks to increases in all areas of the Group's operations, which was driven by growing customer activity and a favourable situation on the capital markets. Operating expenses in 2025 amounted to PLN 5,530 million and were higher by PLN 286 million, i.e. 5.5% compared to 2024, supporting business development, with the costs of salaries and other employee benefits lower by 1.5% y/y, thanks to the launch of the voluntary redundancy program at the end of 2024. Net allowances for expected credit losses in 2025 amounted to PLN 760 million and was lower by PLN 123 million, i.e. 13.9% than in 2024. Contributions to the Bank Guarantee Fund in 2025 amounted to PLN 384 million and were higher by PLN 145 million, i.e. 60.7% than in 2024 due to the restoration of contributions to the Bank Guarantee Fund, which had not been collected for the last two years, and an increase in the volume of guaranteed funds. The tax on certain financial institutions in 2025 amounted to PLN 861 million and was lower by PLN 37 million, i.e. 4.1% than in 2024. Volumes As at the end of December 2025, loans and advances at nominal value amounted to PLN 202,214 million and were higher by PLN 15,707 million, i.e. 8.4%, than at the end of December 2024. At the end of December 2025, the volume of retail loans amounted to PLN 88,005 million and were higher by PLN 4,237 million, i.e. 5.1% than at the end of December 2024, thanks to the sale of cash loans higher by 17.3% y/y, which allowed for an increase in volumes by 13.1% y/y and sales of mortgage loans at the level of PLN 10,8 billion, which allowed for an increase in volumes by 3.6% y/y. At the end of December 2025, corporate loans, including non-Treasury debt securities, amounted to PLN 114,209 million and were higher by PLN 11,470 million, i.e. 11.2%, compared to the end of December 2024, mainly due to a strong increase in corporate loans in the MID and SME segments by 13.1% y/y and loans to large enterprises by 11.4% y/y, with the acquisition of over 3.8 thousand new customers and an enriched product offer. As at the end of December 2025, liabilities to the Group's customers amounted to PLN 268,463 million and were higher by PLN 9,429 million, i.e. 3.6%, than at the end of December 2024. As at the end of December 2025, retail and other amounted to PLN 155,098 million and were higher by PLN 5,388 million, i.e. 3.6%, compared to the end of December 2024. As at the end of December 2025, corporate and other amounted to PLN 113,365 million and were higher by PLN 4,041 million, i.e. 3.7%, compared to the end of December 2024. As at the end of December 2025, the net assets of investment funds managed by Pekao TFI S.A. amounted to PLN 41,224 million and were higher by PLN 9,035 million, i.e. 28.1% compared to the end of December 2024, thanks to both higher valuation and high net sales of investment funds in 2025 at the level of PLN 5.6 billion.
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7 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 4. External Activity Conditions Economic growth In 2025, Poland’s GDP growth accelerated from 3.0% to around 3. 6% year-on-year. The main driver of growth was private consumption, which accelerated from 2.9% to around 3. 7% yoy despite a slowdown in real wage growth (from 7.5% to 4.0% yoy compared with 2024). Investment, however, was disappointing: although it increased by around 4,2% yoy, this was slower than expected given the ongoing acceleration in the disbursement of EU funds. The contribution of foreign trade (net exports) to growth was negative for the second consecutive year and subtracted around 0.2 percentage points from Poland’s GDP growth in 2025. In 2026, according to Pekao economists, the Polish economy is expected to accelerate once again, with GDP growth reaching 4.0% y oy. In the growth structure, due to a further deceleration in real wage growth, private consumption will be less dominant, while investment supported by the accelerating absorption of EU funds, including those from the National Recovery Plan (KPO) -will play a stronger role. The contribution of foreign trade is expected to remain negative due to the lack of prospects for a clear improvement in foreign demand for Polish goods. Labour market The unemployment rate at end -2025 stood at 5.7%, up from 5.1% at end -2024. This marked increase does not reflect a deterioration in domestic labour market conditions, but rather results from regulatory changes associated with the reform of labour offices. Consequently, at this stage a more reliable measure free from regulatory distortions is the unemployment rate according to the Labour Force Survey (LFS), which rose to 3.2% in the third quarter of the year, from 3.0% in both the third quarter of 2024 and the second quarter of 2025. The evolution of this indicator accurately captures the condition of the domestic labour market in 2025: the economy experienced a mild deterioration, driven by a steadily declining demand for labour on the part of employers, alongside a persistently high labour force participation rate. At the same time, average employment in the enterprise sector was lower by 0.8% yoy for most of the year, while the number of full-time jobs declined by 40 thousand by November 2025 (compared with a decline of 60 thousand a year earlier). However, this was largely the result of reductions in working time, which accounted for around half of the reported decline. Wage growth in the enterprise sector decelerated markedly in 2025 from over 9% yoy in January to slightly above 7% in November. As a result, average annual wage growth slowed to around 8%, down from 11% in the previous year. Stagnant employment trends combined with inflation remaining at the NBP target are conducive to a further moderation in wage growth. In the first quarter of 202 6, the unemployment rate is expected to rise due to seasonal factors, before resuming its decline around the turn of the first and second quarters, heading towards this year’s minimum of approximately 5.5%. By the end of 26, the unemployment rate should remain at 5.7 saw in December 2025. Wage growth will continue to decelerate, albeit at a somewhat slower pace, ultimately falling by nearly 2 percentage points compared with the previous year. As a result, nominal wage growth in the enterprise sector is projected to decline to around 5,5% in 2026. Moreover, we forecast a slight acceleration in employment growth rate in the enterprise sector, to -0.5% in 2026 from -0.8% in 2025.
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8 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Inflation and monetary policy The second half of 2025 saw a further decline in consumer price inflation (CPI) – it returned to the National Bank of Poland's (NBP) target at the end of the year, faster than previously forecast. CPI ended 2025 at 2.4% yoy. Core inflation (excluding food, energy and fuel prices), although on a downward trend, remained higher, primarily due to persistent cost pressures in the services sector. Average annual CPI in 2025 reached 3.6%, identical to 2024, but with a fundamentally different trajectory – rising in 2024 and clearly declining in 2025. This is not the end of the disinflation process in Poland, although the rate of inflation decline will slow significantly in 2026. Inflationary pressure from regulated prices will remain limited: energy prices for households will remain at a similar level in 2026, despite the formal "unfreezing" of electricity prices. Furthermore, the president's veto prevented larger hikes in excise taxes on alcohol and tobacco products and an increase in the sugar tax. The food market is also signaling low price pressure due to the end of previous supply disruptions. Stable prices of industrial and energy commodities limited inflationary pressures in the goods segment in 2025, and there is little indication of a significant change in this picture in 2026. An additional disinflationary factor will be the growing s hare of cheap imports from China – amid US tariffs, Chinese exporters are intensifying their search for alternative markets, including in Europe. Risks to this scenario primarily focus on geopolitical factors – escalating conflicts or tightening sanctions could lead to higher prices for energy and industrial commodities, weakening the disinflationary outlook for goods inflation in 2026. Core inflation is no longer a key concern, although services inflation will remain significantly higher than goods inflation due to the "stickiness" of high labour costs. The projected Poland’s high economic growth rate in 2026 should not generate additional inflationary pressure, given the still-closing output gap and the relatively high rate of productivity growth in the economy. According to forecasts by Bank Pekao economists, average annual CPI inflation in 2026 will reach 1.9%, below the NBP projection and market consensus. In the fourth quarter of 2025, the Monetary Policy Council (MPC) continued its monetary easing, cutting interest rates by 25bps at each meeting. Year 2025 ended with the reference rate at 4.00%. In total, the Council cut rates by 175bps throughout the year, marking the strongest monetary policy easing since 2013. A key factor enabling such decisive action was faster -than- expected disinflation. After the January- February pause in the cycle, interest rate cuts are expected to continue, and market consensus indicates that the reference rate will reach the target level (3.25%) by mid -2026 at the latest. At the same time, the Council will likely maintain cautious communication, emphasizing the risks of secondary inflationary effects related to the closing output gap, strongly expansionary fiscal policy and heightened geopolitical uncertainty. Fiscal policy The central government budget deficit in 2025 amounted to approximately PLN 276 billion (as estimated by Pekao economists) — several dozen billion zlotys less than assumed in the Budget Act (PLN 289 billion), and at the same time PLN 65 billion more than a year earlier. The increase in the deficit was driven mainly by the reform of local government financing (an increase in their share of PIT revenues) and by the need for the Ministry of Finance to redeem Treasury bonds issued by the Polish Development Fun d (PFR) during the pandemic, with a total value of PLN 34 billion. New social transfers were also introduced (widow’s pensions), but their scale was smaller than in the previous year. Tax rates did not change significantly, but tax revenues were lower than expected. This applied in particular to VAT, which generated around PLN 320 billion compared with the planned PLN 341 billion, as well as to CIT revenues. CIT receipts were expected to amount to PLN 80 billion but reached slightly less than PLN 70 billion. According to estimates by Pekao economists, the general government deficit amounted to around 7% of GDP in 2025 (final data will be published in April 2026), compared with 6.5% of GDP a year earlier. This is a high level, but in the past year i t did not result in difficulties in financing the government’s borrowing needs. Treasury bond yields remained elevated, but Poland’s risk premium-measured, for example, by the spread between domestic government bond yields and German Bunds-declined.
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9 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 The 2026 Budget Act assumes a deficit at a level similar to that of the previous year (PLN 271 billion), which implies a slig ht decline as a percentage of GDP (from around 7% to 6.5% of GDP). No tax cuts or significant increases in expenditure (such as new social transfers) are planned. Expenditure financed from EU funds, including the National Recovery Plan (KPO), will increase significantly. This will translate into an increase in the Ministry of Finance’s borrowing needs by around 15% compared with 2025. However, these needs will be financed to a slightly smaller extent (though still predominantly) through the issuance of Treasury bonds and to a greater extent through EU loans (the loan component of the KPO and SAFE). This creates an opportunity for a decline in yields on Treasury bonds. Capital markets Due to changes in US trade policy, 2025 was a turbulent year, but ultimately turned out to be quite conventional in terms of investor returns. Nevertheless, not all asset classes yielded the same returns. Treasury bond holders had to settle for rathe r modest gains. As in the previous year, changes in market interest rates were very unevenly distributed. While ongoing monetary policy easing cycles around the world allowed for a significant decline in short -term bond yields, investors could expect much less a t the so -called long end of the curve. In fact, yields on 30 -year treasury securities in key markets either remained unchanged or even increased. This behavior of the longest -term treasury securities was due, among other things, to increased political and geopolitical risks affecting global capital flows, and above all to the lack of progress in fiscal consolidation in the major developed economies. Equity markets, on the other hand, performed very well: S&P500 gained 16.4%, Japanese Nikkei225 26.2%, German DAX 23%, Chinese Shanghai Composite 18.4% and British FTSE250 9.0%. French CAC40 gained 10.4%. Thus, 2025 stood out owing to its relatively low returns on investments in US stocks. This can be attributed to the slowdown in economic growth in that country, uncertainty about the shape of trade and economic policy, increased appetite for diversification of investment portfolios after years of US dominance, and factors specific to individu al countries (reflation in Japan, fiscal package in Germany). In 2025, the Warsaw Stock Exchange’s star was shining brightly. All major indices on the Warsaw trading floor were characterized by above-average returns and breaking new all-time records (with the exception of the WIG20 index, which still had not beaten its 2007 highs). The broad market WIG index grew by 47.3%, the WIG20 index of the largest companies gained 45.3%, medium-sized companies represented in the mWIG40 index yielded a 33.6% return, and the sWIG80 index, which groups small-cap companies, rose by 25.4%. In 2024, the downward trend in the number of companies listed on the stock exchange continued, with 15 companies delisting and three making their debut. Interest in the Warsaw Stock Exchange increased significantly, with the total value of trading o n the stock market amounting to PLN 470 billion (for comparison, in 2024 it was PLN 331 billion). Banking sector According to data from the Financial Supervision Authority (FSA), the banking sector's net profit in 2025 amounted to PLN 48,9 billion (+21,6% y/y) compared to PLN 40,2 billion in the whole of 2024. The increase in profits took place in an environment of falling interest rates: the inelastic supply of deposits allowed interest costs to remain unchanged, while interest income increased by PLN 3 billion y/y. Expenses related to provisions and write -offs also decreased, contributing PLN 3,5 billion y/y to net profit. However, the sector's performance was weighed down by dynamic wage growth, which translated into an increase in expenses related to costs of operation of PLN 4,0 billion y/y. According to the KNF data, the banking sector's assets in 2025 amounted to PLN 3,685 billion, an increase of 9.7% y/y.
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10 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 According to data from the National Bank of Poland, the following trends were observed in the main deposit categories: The growth rate of household deposits in 2025 remained in single digits and slowed down (9.4% y/y in January, 7.9% y/y in December). In 2026, deposit growth will continue to slow down, reaching around 7% y/y due to lower projected wage growth. The volume of corporate deposits accelerated aggressively at the end of last year (14.4% y/y in December), and in 2026 its growth will remain in double digits. This will mirror the credit boom and strengthening demand for credit from non-financial corporations. The structure of deposits remained stable. In December 2025, private deposits accounted for 88.6% of all retail deposits. The share of term deposits remained high (30.5%), although it declined slightly as a result of interest rate cuts. We forecast th at in 2026, the growth in the volume of current deposits will be half as high as that of term deposits. The following trends were observed in the main categories of receivables: In 2025, and especially in the second half of the year, the decline in interest rates was a clear stimulus for lending. The growth of the consumer loan portfolio accelerated from 5.8% y/y in January to 8.1% y/y in December. At the same time, despite the ve ry high value of new mortgage sales (over PLN 100 billion, a significant part of which, however, was the result of refinancing existing liabilities), the value of mortgage portfolio amortisation was close to PLN 70 billion. As a result, the volume of PLN -denominated housing loans grew by only 8.0% y/y. Altogether, loans for households grew by 4.1% y/y. Increased interest in loans among entrepreneurs, motivated both by demand (economic recovery, NGEU investments) and supply (falling interest rates), was clearly visible in the data for 2025. After six consecutive months of double -digit growth, the operating loan portfolio ultimately grew by 7.2% y/y. The growth rate of investment loans was 10.5% y/y. Loans to businesses grew by a total of 9.0% y/y. Deposit growth in the banking sector continues to outpace lending growth, but the credit recovery in 2026 will put an end to this phenomenon. The loan-to-deposit ratio (LtD) stood at 63.6% in December, above the historical low of 63.2% recorded in June. It is expected that 2025 had marked the bottom for the LtD index, with some rebound expected in 2026. Persistent excess liquidity is driving increased interest among banks in investing in treasury securities, as evidenced by the dynamic growth in the share of securities and shares in the sector's total assets (+23.4% y/y after November). The quality of the sector's loan portfolio improved in 2025 and is at historically high levels (the NPL ratio was 3.4% in November 2025, compared to 3.7% at the end of 2024). Further interest rate cuts and economic recovery will contribute to a further improvement in the quality of the loan portfolio. The share of non -performing loans in the loan portfolios of households (3.5%) and small businesses (6.6%) remained on a favourable downward trajectory. The percentage of risky liabilities of large enterprises as a result of events in the second half of 2024 peaked in March last year (7.1%) and then fell to 6.8% in the following months.
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11 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 4.1 Important factors influencing the Group’s activities and results The activities of Bank Pekao in 2025 were mainly determined by the macroeconomic situation in the country and abroad. The year 2025 was a year of stabilization and clear acceleration for the Polish economy. In 2025, Poland was in a phase of moderate economic recovery, achieving GDP growth rates in the range of 3.5 –3.7%. The main factors driving the economy in 2025 included private consumption, the inflow of funds from the National Recovery Plan (KPO), increased public investment, and monetary policy easing. According to the November "Inflation and GDP Projection" and the Bank's forecasts, economic growth will further accelerate in 2026. The Bank forecasts GDP growth at 4.0%. The annual consumer price inflation (CPI) fell to 2.4% in December 2025, slightly below the National Bank of Poland's (NBP) target of 2.5%. At the end of 2025, inflation in Poland was nearly half that of the previous year. Risk factors influencing inflation in 2025 included fiscal policy, the expected recovery in economic demand, continued wage growth, and the macroeconomic situation abroad, including changes in commodity prices and global inflation. Available forecasts suggest that inflation will hover around the NBP target in the next 12 months. Poland's monetary policy in 2025 was characterized by a cycle of interest rate cuts aimed at adapting interest rates to inflation falling faster than expected. The Monetary Policy Council's decision (six rate cuts) in 2025 led to a reduction in the refere nce rate from 5.75% to 4.00%. The Polish banking sector reported strong financial results in 2025, with net profit approaching a record high thanks to high interest income and the sale of treasury bonds. This was largely due to continued elevated interest rates. Despite interest rate cuts that began to slow growth, profits were record -breaking and higher than those for 2024. These interest rate cuts contributed to higher costs and put pressure on margins, prompting banks to diversify and invest in technology while maintaining a stable capital and liquidity position. In 2025, Polish banks recorded stable deposit growth, particularly from households. A significant factor influencing the deposit growth dynamics was the reduction in NBP interest rates from 5.75% at the end of 2024 to 4% at the end of 2025. Bank lending growth in 2025 was upward, especially in the housing and cash loan segments, driven by falling interest rates, rising creditworthiness, and income, which led to an increase in lending. The decline in interest rates supported continued improvement in conditions for borrowers. After a weaker start to 2025, the second half of the year saw a clear rebound in the installment loan market. Stabilization of net interest income despite interest rate cuts significantly supported overall revenues. The cost of risk in the Polish banking sector in 2025 was primarily influenced by legal risks associated with Swiss franc loa ns. The legal risk associated with foreign currency loans remains significant, although its impact on the stability of the financ ial system has been significantly reduced. The value of foreign currency -denominated housing loans is steadily declining, as a result of repayments, court judgments, and settlements with borrowers. The scale of the provisions created means the sector is currently well prepared for the further materialization of this risk. Nevertheless, the costs associated with foreign currency mortgages will continue to be a burden for banks. Several years after the first CJEU ruling, banks have experience managing the risk of foreign currency mortgages, including estimating the necessary provisions and concluding settlements with borrowers. They are increasingly offering settlements for contracts subject to legal disputes. Banks effectively manage other risk areas, such as regulatory and legislative risk (MREL, capital requirements), maintaining the stability of the financial system and adapting to a dynamic environment. The operating costs of the Polish banking sector in 2025 grew moderately, in line with inflation, while improving efficiency. Investments in digitization, artificial intelligence, and personalized offerings were crucial for cost management, helping maintain cost discipline despite growing technology spending. In 2025, banks continued processes related to operational and digital transformation, the importance of customer service in remote channels grew, and many banking processes were digitized. New technical solutions were introduced, and the functionalities of banking applications were expanded. This was accompanied by a reduction in stationary branches.
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12 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 5. Organizational Structure 5.1 Changes in the Bank Pekao S.A. Group The composition of Bank Pekao S.A. Group is presented in the Note 2 to the Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025. The most important changes in the Group that took place in 2025 are discussed below. FPB-Media” sp. z o.o. On 8 April 2025, “FPB-Media” sp. z o.o. was deleted from the register of entrepreneurs in National Court Register. The decision to delete the company became final on 24 April 2025. Pekao Fundusz Kapitałowy sp. z o.o. On 4 June 2025, the Extraordinary General Meeting of Shareholders of Pekao Fundusz Kapitałowy sp. z o.o. w likwidacji revoked the liquidation of the Company as of 1 July 2025 and amended the Company Agreement. The purpose of these activities is to use the Company's potential to implement projects carried out for the Pekao Group. Pekao Bank Hipoteczny S.A. On 18 August 2025, the Extraordinary General Meeting of Pekao Bank Hipoteczny S.A. adopted a resolution on the division of the Company by transferring to Bank Pekao S.A. a part of the Company's assets and rights and obligations in the form of an organized part of the Company's e nterprise, in accordance with the previously published Demerger Plan. As part of the demerger, the Company's share capital was reduced by PLN 100,000 through the redemption of one series G share with a nominal value of PLN 100,000. On the same day, the Extraordinary General Meeting of Pekao Bank Hipoteczny S.A. adopted a resolution to increase the Company's share capital by PLN 90,000,000 through the issue of 900 series M shares with a nominal value of PLN 100,000 per share. Series M shares will be offered exclusively to Bank Pekao S.A. by way of a private subscription. In connection with the above changes, the Company's Articles of Association were also amended with respect to the amount of the share capital, which, after taking into account the events described above, will amount to PLN 692,900,000. The above-mentioned changes in the demerger and reduction of the share capital became effective on 3 October 2025, in connection with the entry in the register of entrepreneurs of the National Court Register. The organized part of the Company's business transferred to Bank Pekao S.A. includes, in particular, activities related to selected types of loans. This consolidation is the result of the recommendations of the Polish Financial Supervision Authority aimed at restoring profitability and stabilizing the Company's results. The increase of Company’s share capital by PLN 90,000,000 was registered in National Court Register on 28 October 2025. On 27 October 2025, the Extraordinary General Meeting of Pekao Bank Hipoteczny S.A. adopted a resolution to reduce the Company's share capital by PLN 345,604,662 in order to cover the loss from previous years. The share capital reduction will be effected by reducing the nominal value of each share to PLN 50,122. In connection with the above change, the Company's Articles of Association were also amended with respect to the amount of the share capital, which, after taking into account the event described above, will amount to PLN 347,295,338. On 3 December 2025, the Polish Financial Supervision Authority issued decisions allowing the reduction of the share capital and amendments to the Company's Articles of Association. The described changes are awaiting entry in the National Court Register. Pekao Inwestycje Dłużne sp. z o.o. On 16 October 2025 Pekao Inwestycje Dłużne sp. z o.o. was established. The Company's share capital amounts to PLN 20,000,000 and is divided into 10,000 shares with a nominal value of PLN 2,000 each. All shares in the Company's share capital were acquired by Pekao Investment Banking S.A. The Company's business is other financial service activities, excluding insurance and pension funds. On 4 November 2025 the Company's Supervisory Board was appointed, and on 5 December 2025 the Management Board was appointed. The company was registered in the register of entrepreneurs of the National Court Register on 15 December 2025. Centrum Kart S.A. On 15 November 2025, the core business of Centrum Kart S.A. became an integral part of Bank Pekao S.A. The decision to incorporate the Company's operations into the Bank's structures resulted from the need to simplify and strengthen the operating model in the area of payments. The change will translate into further development in the area of payments and more efficient project management and development of modern services. Pekao Direct sp. z o.o. In November 2025, Pekao Direct sp. z o.o. commenced a new activity related to the provision of body leasing services to Bank Pekao S.A. and the Pekao Group. Previously, the Company provided contact center services for the Bank (this activity was transferred to the Bank's structures as of 1 May 2025).
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13 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 5.2 Changes in the Statutory Bodies of the Bank Supervisory Board The composition of the Supervisory Board of Bank Pekao S.A. has as follows: AS AT THE DATE OF SUBMITTING THE REPORT FOR 2025 31 DECEMBER, 2025 AS AT THE DATE OF SUBMITTING THE REPORT FOR THE THIRD QUARTER OF 2025 Bogdan Benczak Chairman of the Supervisory Board Bogdan Benczak Chairman of the Supervisory Board Andrzej Klesyk Chairman of the Supervisory Board Artur Nowak-Far Deputy Chairman of the Supervisory Board Artur Nowak-Far Deputy Chairman of the Supervisory Board Artur Nowak-Far Deputy Chairman of the Supervisory Board Bartosz Grześkowiak Deputy Chairman of the Supervisory Board Bartosz Grześkowiak Deputy Chairman of the Supervisory Board Bartosz Grześkowiak Deputy Chairman of the Supervisory Board Magdalena Joanna Dziewguć Secretary of the Supervisory Board Magdalena Joanna Dziewguć Secretary of the Supervisory Board Magdalena Joanna Dziewguć Secretary of the Supervisory Board Diana Dębowczyk Member of the Supervisory Board Diana Dębowczyk Member of the Supervisory Board Radosław Niedzielski Member of the Supervisory Board Mariusz Jaszczyk Member of the Supervisory Board Mariusz Jaszczyk Member of the Supervisory Board Mariusz Jaszczyk Member of the Supervisory Board Jacek Nieścior Member of the Supervisory Board Jacek Nieścior Member of the Supervisory Board Jacek Nieścior Member of the Supervisory Board Krzysztof Czeszejko-Sochacki Member of the Supervisory Board Krzysztof Czeszejko-Sochacki Member of the Supervisory Board Krzysztof Czeszejko-Sochacki Member of the Supervisory Board Witold Walkowiak Member of the Supervisory Board Witold Walkowiak Member of the Supervisory Board Witold Walkowiak Member of the Supervisory Board Detailed information on the Bank's Supervisory Board can be found in Chapter 12 Statement of Bank Polska Kasa Opieki Spółka Akcyjna on the application of corporate governance principles in 2025, - in part: Description of the functioning of the management, supervisory, or administrative bodies of the Bank, as well as their committees, along with an indication of the composition of these bodies and any changes that occurred within them during the last financia l year Management Board of the Bank The composition of the Management Board of Bank Pekao S.A. has as follows: AS AT THE DATE OF SUBMITTING THE REPORT FOR 2025 31 DECEMBER, 2025 AS AT THE DATE OF SUBMITTING THE REPORT FOR THE THIRD QUARTER OF 2025 Cezary Stypułkowski President of the Bank’s Management Board, Cezary Stypułkowski President of the Bank’s Management Board Cezary Stypułkowski President of the Bank’s Management Board Marcin Gadomski Vice President of the Bank’s Management Board Marcin Gadomski Vice President of the Bank’s Management Board Marcin Gadomski Vice President of the Bank’s Management Board Łukasz Januszewski Vice President of the Bank’s Management Board Łukasz Januszewski Vice President of the Bank’s Management Board Łukasz Januszewski Vice President of the Bank’s Management Board Michał Panowicz Vice President of the Bank’s Management Board Michał Panowicz Vice President of the Bank’s Management Board Michał Panowicz Vice President of the Bank’s Management Board Robert Sochacki Vice President of the Bank’s Management Board Robert Sochacki Vice President of the Bank’s Management Board Robert Sochacki Vice President of the Bank’s Management Board Błażej Szczecki Vice President of the Bank’s Management Board Błażej Szczecki Vice President of the Bank’s Management Board Błażej Szczecki Vice President of the Bank’s Management Board Dagmara Wojnar Vice President of the Bank’s Management Board Dagmara Wojnar Vice President of the Bank’s Management Board Dagmara Wojnar Vice President of the Bank’s Management Board Marcin Zygmanowski Vice President of the Bank’s Management Board Marcin Zygmanowski Vice President of the Bank’s Management Board Marcin Zygmanowski Vice President of the Bank’s Management Board Detailed information on the Bank's Management Board can be found in Chapter 12 Statement of Bank Polska Kasa Opieki Spółka Akcyjna on the application of corporate governance principles in 2025, - in the part: Description of the functioning of the management, supervisory, or administrative bodies of the Bank, as well as their committees, along with an indication of the composition of these bodies and any changes that occurred within them during the last financia l year
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14 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 5.3 Organizational changes In 2025, we introduced a number of organizational changes within the Bank’s Head Office. Within structure of Retail and Private Banking Division, Private Banking Center was established, comprising Private Banking Department and Private Banking Development Department. The Retail Banking Segment and Product Development Center was created, consolidating product and segment units of the Division. A new Contact Center Department, dedicated to sales and development of remote customer service, was also established. Retail and Private Banking Division was restructured into Branch Distribution, Private Banking and Operations Division which includes: Retail Banking Distribution Department, Retail and Private Banking Strategy and Transformation Department, Private Banking Center and Corporate Services and Operations Center. Retail Banking Segment and Product Development Center, Contact Center Department, and Digital Sales and Service Department were incorporated into newly formed Integrated Channels, Products and Retail Segments Division. Activities previously performed by Pekao Direct were incorporated into structure of Contact Center Department. Within Strategy and Corporate Affairs Division, the Investor Relations Department and Shareholder Relations Office were merged into a single unit — Investor Relations and Shareholder Cooperation Department. Equity Investments and Ownership Supervision Depa rtment was established by integrating the former Equity Investments Office and Ownership Supervision Office. Analytics and Digital Transformation Center, previously reporting directly to the President of Management Board, was incorporated into the Division. Data Protection Inspector Department was moved to Technology Transformation and Innovation Division. Technology and Operations Division was transformed into Technology Transformation and Innovation Division, comprising IT Center, Security Center, and New Technologies and Development Department, renamed into AI Transformation Department. Within IT Center, the Card Department was created, consolidating most activities formerly performed by Centrum Kart S.A. (Card Center). Human Resources Division was transformed into People, Organization and CX Division, with Customer Experience Management Department transferred from Strategy and Corporate Affairs Division. HR Strategy Center was established, bringing together key units responsible for HR, payroll, organizational culture development, process analysis and optimization. Transaction Banking Department was transferred from Corporate Banking and MIB Division to Commercial Banking Division, to which Payment Acceptance Office — formerly part of Digital Sales and Service Department — was added. Within Financial Division, the Data and Information Management Center was created, comprising Management and Financial Information Department, Data Management Office (transferred from Analytics and Digital Transformation Center), and newly established Data Platform Support and Development Office.
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15 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 6. Information for the Investors 6.1 The Bank’s share capital and share ownership structure As at 31 December 2025, the share capital of Bank Pekao S.A. amounted to PLN 262,470,034 and remained unchanged until the date of submitting the report. The Bank's share capital was divided into 262,470,034 shares in the following series: - 137,650,000 Series A bearer shares with a par value of PLN 1.00 per share, - 7,690,000 Series B bearer shares with a par value of PLN 1.00 per share, - 10,630,632 Series C bearer shares with a par value of PLN 1.00 per share, - 9,777,571 Series D bearer shares with a par value of PLN 1.00 per share, - 373,644 Series E bearer shares with a par value of PLN 1.00 per share, - 621,411 Series F bearer shares with a par value of PLN 1.00 per share, - 603,377 Series G bearer shares with a par value of PLN 1.00 per share, - 359,840 Series H bearer shares with a par value of PLN 1.00 per share, - 94,763,559 Series I bearer shares with a par value of PLN 1.00 per share. All the existing shares are ordinary bearer shares. There are no special preferences or limitations connected with the shares , or differences in the rights attached to them. The rights and obligations related to the shares are defined by the provisions of the Polish Commercial Companies Code and other applicable law. Bank Pekao S.A.'s Largest Shareholder As of the date of the 2025 report, the largest shareholder of Bank Pekao S.A. is Powszechny Zakład Ubezpieczeń S.A. (PZU), which holds 52,494,007 shares, representing 20.00% of the share capital and total votes at the Bank's General Meeting. PZU is one of the largest financial institutions in Poland, playing a key role in the insurance and investment sectors. Shareholders of Bank Pekao S.A., holding directly or indirectly, through subsidiaries, at least 5% of the total number of vot es at the General Meeting of the Bank, are as follows: SHAREHOLDER’S NAME NUMBER OF SHARES AND VOTES AT THE GENERAL MEETING SHARE IN SHARE CAPITAL AND TOTAL NUMBER OF VOTES AT THE GENERAL MEETING NUMBER OF SHARES AND VOTES AT THE GENERAL MEETING SHARE IN SHARE CAPITAL AND TOTAL NUMBER OF VOTES AT THE GENERAL MEETING NUMBER OF SHARES AND VOTES AT THE GENERAL MEETING SHARE IN SHARE CAPITAL AND TOTAL NUMBER OF VOTES AT THE GENERAL MEETING AS AT THE DATE OF SUBMITTING THE REPORT FOR 2025 31 DECEMBER 2025 AS AT THE DATE OF SUBMITTING THE REPORT FOR THE THIRD QUARTER OF 2025 Powszechny Zakład Ubezpieczeń S.A. 52,494,007 20.00% 52,494,007 20.00% 52,494,007 20.00% Polski Fundusz Rozwoju S.A. 33,596,166 12.80% 33,596,166 12.80% 33,596,166 12.80% Nationale-Nederlanden Otwarty Fundusz Emerytalny 14,701,415 5.60% 14,701,415 5.60% 18,367,000 7.00% Allianz Polska Otwarty Fundusz Emerytalny 13,935,661 5.31% 13,935,661 5.31% 14,000,000 5.33% Other shareholders (below 5%) 147,742,785 56.29% 147,742,785 56.29% 144,012,861 54.87% Total 262,470,034 100.00% 262,470,034 100.00% 262,470,034 100.00% Until the date of submitting the report the Bank has not received any other notifications regarding changes in the ownership structure in accordance with par. 69 of the Act of July 29, 2005 on Public Offerings and Conditions Governing the Introduction of Financial Instruments to an Organized System of Trading, and on Public Companies. Polish open-end pension funds (OFE) constitute the group of financial investors holding a significant equity interest in the Bank. Based on their publicly available financial reports, as of 31 December, 2025 OFE’s held in aggregate 18.34% of the Bank’s shares.
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16 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 The Polish open-end pension funds’ holdings in Bank Pekao S.A.: SHAREHOLDER NUMBER OF SHARES AND VOTES AT GENERAL MEETING % OF SHARE CAPITAL AND TOTAL VOTE AT GENERAL MEETING NUMBER OF SHARES AND VOTES AT GENERAL MEETING % OF SHARE CAPITAL AND TOTAL VOTE AT GENERAL MEETING 31 DECEMBER 2025 31 DECEMBER 2024 Nationale-Nederlanden OFE 14,701,415 5.60% 16,834,767 6.41% Allianz Polska OFE 13, 935, 661 5.31% 14,140,661 5.39% Generali OFE 7 ,488, 295 2.85% 7,299,199 2.78% Vienna OFE 4 ,778, 342 1.82% 4,898,495 1.87% PKO BP Bankowy OFE 3, 200 ,710 1.22% 3,237,007 1.23% Uniqa OFE 3, 153 ,684 1.20% 3,153,684 1.20% OFE Pocztylion 866, 568 0.33% 926,568 0.35% Total 48,124,675 18.34% 50,490,381 19.24% Note: OFE Reports, annual structure of open-end pension funds assets. 6.2 Performance of market valuation of Bank Pekao S.A.’s stock The shares of Bank Pekao S.A. have been listed on the Warsaw Stock Exchange since June 1998 and they are one of the most liquid equities in Poland and Central and Eastern Europe. The Bank’s market capitalization as of 31 December, 2025 amounted to PLN 53.8 billion making the Bank one of the largest listed companies in Central and Eastern Europe. Given the high capitalization and liquidity the Bank’s shares are a part of many important stock indices maintained by domestic and foreign institutions including Polish blue chips index – WIG20 and WIG30, banking sector index WIG -Banks, STOXX Europe 600 Index, the index of the largest and most liquid securities in Europe, FTSE Developed Equity Index as well as MSCI Emerging Markets. The Bank's shares are also included in Bloomberg Gender Equality Index, bringing together a listed company actively working for gender equality at work. With the average daily turnover volume at the level of 819.6 thousands of shares and the worth of trading at PLN 37 billion in 2025, the share of the Bank’s stock in trading on the WSE amounted to 7.88%. Share price of Bank Pekao S.A. increased by 51.31% y/y and reached PLN 205.10 as at the end of December 2025 compared to PLN 137.90 a year earlier. Total shareholder return for the Bank's shareholders (including dividend payment at PLN 18.36 per share) amo unted to 65% and was higher than return for the WIG Banks index, which grew by 55% in 2025. Share price performance of Polish banks in 2025 was influenced primarily by the sector's record results thanks to high interest rates remaining throughout the year. Basic information about Bank Pekao S.A. shares 2025 2024 Share price at the end of the year (PLN) 205.10 137.90 Maximum share price (PLN) 223.10 191.50 Minimum share price (PLN) 135.55 131.15 Number of shares 262,470,034 262,470,034 Capitalization at the end of the year (PLN billion) 53.8 36.2 Average trading volume 819,614 664,303 Earnings per share (PLN)(*) 26,73 24.19 Book value per share (PLN)(**) 124.93 116.75 Dividend per share paid in a given year (PLN) 18,36 19.20 P/E (x)(***) 7.9 5.7 P/BV (x)(***) 1.62 1.18 Note: Data based on GPW statistics. (*) Earnings per share calculated as the sum of quarterly earnings per share for four consecutive quarters, where the last quarter is the fourth quarter of a given year. (**) Book value per share calculated on the basis of financial data for the fourth quarter of a given year. (***) Indicators calculated in relation to the financial data after the third quarter of a given year.
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17 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 6.3 Dividend payment history In 2025, the Bank paid a record dividend of PLN 18.36 per share, which consisted of the payment of 75% of net profit for 2024. Dividend yield was 9%. In the years 2010-2024, the Bank regularly paid dividends, except for the distribution of profit for 2019, when due to the COVID-19 pandemic, the Polish Financial Supervision Authority recommended the Bank not to pay dividends. The total value of dividends paid for the years 2010-2024 amounted to over PLN 32 billion, making the Bank one of the Polish companies with the highest level of dividends paid in recent years. The dividend payments from 2010 to 2024 are presented below: 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Dividend for the year (in PLN million) 1,785 1,412 2,202 2,614 2,625 2,283 2,278 2,074 1,732 - 843 1,129 1,423 5,039 4,819 Dividend per 1 share (in PLN) 6.80 5.38 8.39 9.96 10.00 8.70 8.68 7.90 6.60 - 3.21 4.30 5.42 19.20 18.36 Note: Dividend presented in the year in which the profit intended for dividend payment was generated. In accordance with the Bank's strategy "… the only way is up!" for the years 2025 -2027, Bank Pekao intends to allocate 50- 75% of its net profit to dividend payments. The final decision on the distribution of the profit for 2025 and its allocation to the payment of dividends will be made by the General Meeting of Shareholders. 6.4 Investor Relations The Bank’s activity, in the investor relations area, is focused on providing transparent and active communication with the market through active co -operation with investors, analysts and rating agencies, as well as fulfilling disclosure requirements within the frameworks of applicable law regulations. The Bank’s representatives regularly hold many meetings with investors from Poland and abroad, and take part in most of the regional and sector dedicated investors conferences. In total, in 2025, the bank participated in 27 investor conferences and roadshows meetings with institutional investors from key financial centers around the world. In 2025, the Bank's representatives held meetings with a total of 618 investors. Financial results of Bank Pekao S.A. Group are presented quarterly at conferences that are simultaneously transmitted via Internet. The Bank’s financial results and its activity are regularly monitored by analysts representing Polish and foreign brokerage entities. In 2025, 17 analysts published reports and recommendations on the Bank. Recommendation structure for Bank Pekao S.A. shares for 31 December 2025 Buy/Accumulate 10 Hold/Neutral 7 Reduce/Sell 0 The activity of the Bank’s investor relations is to enable to make a reliable evaluation of the Bank’s financial situation, its market position and business model effectiveness in the context of banking sector conditions and macroeconomic situation in the domestic economy as well as on international markets. Relevant information for the investors about the Bank is available on the Bank’s website: https://www.pekao.com.pl/en/investors-relations.html The Principles_of_information_policy.pdf is available on the Bank's website. Contact details for the Investor Relations Office: e-mail: bri@pekao.com.pl 6.5 Financial credibility ratings Bank Pekao S.A. financial credibility ratings Bank Pekao S.A. co-operates with three leading credit rating agencies: Fitch Ratings (the Fitch), S&P Global Ratings (S&P), and Moody’s Investors Service. In the case of the first two agencies, the ratings are provided on a solicited basis under relevant agreements and with respect to Moody’s Investors Service the ratings are unsolicited and they are based on publicly available information and review meetings.
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18 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 As of 31 December 2025, Bank Pekao S.A. had assigned following financial credibility ratings: FITCH RATINGS BANK PEKAO S.A. POLAND Long-Term Default rating (IDR) BBB+ A- Short-Term Default Rating F2 F1 Viability Rating Bbb+ - Government Support Rating No support - Outlook Stable Negative National Long-Term Rating AA-(pol) (stable outlook) - National Short-Term Rating F1+(pol) - S&P GLOBAL RATINGS BANK PEKAO S.A. POLAND Long-term rating in foreign currencies A- A- Long-term rating in domestic currency A- A Short-term rating in foreign currencies A-2 A-2 Short-term rating in domestic currency A-2 A-1 Stand-alone credit profile bbb+ - Outlook Stable Stable Rating of Senior Preferred series SP2 bonds A- - Rating of Senior Non-Preferred series ESN1 eurobonds BBB - Rating of Senior Non-Preferred series ESN2 eurobonds BBB - Rating of Senior Non-Preferred series SN3 bonds BBB - S&P GLOBAL RATINGS (RESOLUTION COUNTERPARTY RATING) BANK PEKAO S.A. POLAND Long - term RCR in foreign currencies A - Short - term RCR in foreign currencies A-1 - Long - term RCR in domestic currency A - Short - term RCR in domestic currency A-1 - MOODY’S INVESTORS SERVICE (UNSOLICITED RATING) BANK PEKAO S.A. POLAND Long-term foreign-currency deposit rating A2 A2 Short-term deposit rating Prime-1 Prime-1 Baseline Credit Assessment baa2 - Long-term counterparty risk assessment A2(cr) - Short-term counterparty risk assessment Prime-1(cr) - Outlook Negative Negative Long-term Counterparty Risk Rating (CRR) A2 - Short-term Counterparty Risk Rating (CRR) Prime-1 - The history of rating changes is available on the Bank's website: https://www.pekao.com.pl/en/investors-relations/bonds-and- ratings/ratings.html Bank Pekao's position in ESG ratings and indices The Bank's involvement in ESG activities is assessed by the market in international rankings and indices. The Bank's priority is to increase its position in the rankings regarding activities for the environment, society and corporate governance, resul ting from the systematic undertaking and disclosure of activities in the ESG area. More information is available on the Bank's website: https://www.pekao.com.pl/esg/ . The Bank's website also includes the: https://www.pekao.com.pl/dam/ESG/PAI/Statement_concerning_Principle_Adverse_Impacts_for_year_2025.pdf Pekao Bank Hipoteczny S.A. financial credibility ratings Pekao Bank Hipoteczny S.A. (Pekao BH) cooperates with the international rating agency Fitch Ratings. Fitch emphasizes that Pekao BH's rating is linked to the rating of Bank Pekao S.A., which holds 100% of Pekao BH's shares. According to Fitch, Pekao BH's r ating is influenced by the level of integration with its parent entity, the scale of its operations, and the Bank's capital. More information is available on the Pekao Bank Hipoteczny website: https://www.pekaobh.pl/relacje- inwestorskie/raporty-ratingi.html
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19 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 7. Activity of Bank Pekao S.A. Group 7.1 Bank Pekao S.A. on the Polish banking market HISTORY AND MARKET POSITION OF BANK PEKAO S.A. Bank Pekao S.A. is one of the oldest and largest banks in Poland and has been operating continuously since 1929. Since its inception, the Bank has played an important role in providing services to Poles in Poland and abroad and in the development of the domestic financial sector. Over the course of more than 90 years, Bank Pekao S.A. has undergone significant structural and strategic changes – from an institution focused on servicing emigration, through mergers and consolidation processes in the 1990s, to its stock exchange debut and integration with international capital groups. HIGHLIGHTS 1929 Bank Polska Kasa Opieki S.A. was established in Warsaw on the initiative of the Ministry of Treasury. The aim was to provide services to Poles living abroad and to support emigration processes. In the following years, the business expanded into forei gn markets, opening branches in key cities such as New York, London, Paris and Buenos Aires. 1939–1945 The Bank's activities were limited during World War II, Some of the operations were carried out outside the country. 1946 Bank Pekao S.A. resumed operations in Poland after the end of the war. 1991 The first brokerage office of Bank Pekao (Central Brokerage House) was opened. 1996 The Pekao S.A. banking group was established with the participation of Bank Depozytowo-Kredytowy S.A. in Lublin, Pomorski Bank Kredytowy S.A. in Szczecin and Powszechny Bank Gospodarcze S.A. in Łódź. 1998 Debut of Bank Pekao S.A. shares on the Warsaw Stock Exchange. 1999 Bank Pekao S.A. became a part of the international UniCredit Group. 2007 A legal merger of Bank Pekao S.A. with a separated part of Bank BPH S.A. was carried out, which significantly strengthened the Bank's position on the market and increased the scale of its operations. 2017 PZU S.A. and Polish Fundusz Rozwoju S.A. acquired a 32.8% stake in Bank Pekao S.A., the Bank's return to the Polish capital group. 2025 The Bank's Strategy for 2025–2027 "… the only way is up!" Bank Pekao S.A. is a modern, universal commercial bank, offering a full range of banking services to individual clients, enterprises and institutions. The Bank operates mainly on the domestic market. The Bank Pekao S.A. Group includes financial institutions operating on the following markets: banking, asset management, brokerage services, investment and transaction advisory, leasing and factoring. Since 2017, Bank Pekao S.A. has been part of the PZU S.A. Group, the largest financial institution in Central and Eastern Europe. The Bank offers products and services competitive on the Polish market, a high level of customer service and a well-developed distribution network. A wide range of products, innovative solutions and an individual approach to the customer ensure comprehensive financial services, and the integrated service model provides the highest quality services to customers and ensures optimal adaptation to changing needs. The Bank Pekao S.A. Group actively cooperates with international financial institutions, such as the European Investment Fund (EIF), the European Bank for Reconstruction and Development (EBRD), the Council of Europe Development Bank and the International F inance Corporation (IFC). Thanks to cooperation with foreign international institutions, both the Bank and the Group companies can offer attractive financing terms to clients, including SMEs, and support the development of their investment activities. This cooperation strengthens the stability of financing sources and increases the financial opportunities available to the Group's customers. Bank Pekao S.A. is one of the largest financial institutions in Poland in terms of the value of assets, the number of custome rs and an extensive distribution network. At the end of 2025, we served a total of 7.1 million customers, including 6.7 million individual customers, offering them access to modern financial products and services. (*) Data as at 30 September 2025 – own study.
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20 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 KEY INTANGIBLE RESOURCES New Technologies, Software, Licences We continue to expand our use of modern technologies that enhance the Bank’s operational efficiency and streamline key processes. We are consistently investing in digital solutions such as PeoPay, Pekao24, and PekaoBiznes24, which ensure convenient access to services via remote channels and improve service quality. We are laying strong foundations for operating in a Data Driven model by integrating our data environment to enhance business efficiency. We are also advancing initiatives to implement next-generation conversational banking. At the same time, we are systematically deploying solutions that improve the work environment through the use of advanced artificial intelligence technologies. Bank Brand and Client Relationships A strong, highly recognisable brand and a comprehensive product offering reinforce the Bank’s market position and foster client loyalty. We build long -term client relationships based on the principles of the client experience management model introduced in 2025. This model is grounded in delivering professional, transparent and empathetic service – regardless of clients’ financial needs, life stage or preferred contact channel. We focus on security, trust, responsiveness to signals, an d anticipating client needs. Insights gained from internal and external research, as well as complaints, are used consistently to raise service quality and design solutions aligned with actual client expectations. We pay particular attention to understand ing client needs across life stages. For our youngest clients, we offer savings products and accounts, including the gamified PeoPay KIDS app, which supports financial literacy. We are continuously enhancing our value proposition for Young clients (under the age of 26), addressing their lifestyle and passions. We also cater to individual and private banking clients by offering deeply personalised products and services. Drawing on our specialists’ experience and expertise, we provide comprehensive solutions for businesses. These actions contribute to a steady improvement in how Pekao is perceived by clients, as reflected in higher satisfaction scores, an improved NPS, and favourable market publications. Strategic Cooperation within the Pekao Group and PZU Group We continue to develop our cooperation with the PZU Group, strengthening our position in the bancassurance market and offering clients comprehensive insurance solutions. We integrate leasing and factoring services within the Pekao Group to provide complete financial support, particularly for micro, small, and medium -sized enterprises. Consistently pursuing synergies from this collaboration enhances the Bank’s offer and supports revenue diversification. Employee Competencies and Organisational Culture We support the development of employee competencies and an organisational culture that promotes decisiveness, agility, and openness to innovation. An aspirational work culture enables efficient operations and the implementation of modern solutions within the Bank. This is evidenced by the Friendly Workplace 2025 certificate awarded to the Bank in recognition of initiatives that support workplace comfort and employee development. These actions contribute to an environment where our values – Simply, Together, Courageously, Responsibly, With Determination, Openly, Honestly – form the foundation of all our activities. Corporate Governance System and ESG ESG is an integral part of the Bank’s business strategy. We operate based on high standards of corporate governance, which ensure transparency and responsible management. Within ESG, we focus on supporting clients in achieving their sustainable development goals, including through financial products and solutions that account for environmental and social factors. The Bank also undertakes activities to promote the sustainable development of its own operations, including the successful issuance of further green Eurobonds. Summary The Bank’s value creation chain is built on the integrated use of key intangible assets that support the execution of our strategy and strengthen our market position. Central to this are the development of digital platforms, a data ecosystem and AI technologies, which enable process automation, intelligent information analysis, and the implementation of innovative solutions such as next -generation conversational banking. These technologies improve operational efficiency and enable service personalisation, leading to higher client satisfaction. The Bank’s strong brand and long-term client relationships – built on trust and accessibility – represent another value driver, supported by a comprehensive product offering and innovative remote channels (PeoPay, Pekao24, PekaoBiznes24). Strategic collaboration within the Pekao Group and PZU Group expands the service portfolio and diversifies revenue streams. Employee competencies and an innovation -driven organisational culture, combined with high standards of corporat e governance and ESG initiatives, ensure responsible management and support sustainable growth. The integrated use of these elements enables the Bank to create value for clients, shareholders, and society, reinforcing its position as a modern, responsible financial institution.
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21 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 BUSINESS MODEL The Bank’s business model is based on customer segmentation with the following groups of customers: • RETAIL BANKING AND PRIVATE BANKING – serving individual clients, including affluent private banking clients and micro enterprises. Private banking clients are offered investment advisory through private banking centers and remote channels, while all individual clients and micro -enterprises are served through a wide network of branches and partner outlets supported by market-leading remote service channels, including digital channels, • ENTERPRISE BANKING – providing financial services to clients from small and medium -sized enterprises sector that are served by relationship managers with the support of product specialists. The service is carried out in specialized Business Customer Centers, Corporate Centeres and universal retail branches. Customers are offered with products and services tailored to their individual needs based on solutions proven in corporate banking and adapted to the needs of the enterprise segment, • CORPORATE AND INVESTMENT BANKING – providing financial services to large enterprises (segmentation by revenues of companies), public sector entities, financial institutions and entities from the commercial real estate financing sector. Corporate and investment banking clients are served by relationship managers with the support of product specialists. Distribution channels The Bank offers its customers with a nationwide wide distribution network including its own and partner branches, a network of ATMs with convenient access throughout the country, a professional call center and modern online and mobile banking platforms for individual and corporate customers as well as the segment of small and micro enterprises. In our branch operations, we place particular emphasis on comfort and accessibility. We apply standards of service for customers with disabilities, facilitate the identification of available facilities using a search engine and provide the possibility of entering branches with a guide dog. The Bank also provides transparent information on the availability of car parks at its branches. 31.12.2025 31.12.2024 Total number of outlets 560 573 own outlets 473 478 partner branches 87 95 Total number of own ATMs 1,363 1,314 The number of accounts At the end of December 2025, the Bank maintained 8,928 thousand PLN denominated current accounts, 333 thousand mortgage loan accounts and 572 thousand “Pożyczka Ekspresowa” (Express Loan) accounts. (in thousand) 31.12.2025 31.12.2024 Total number of PLN current accounts (*) 8,928 8,706 of which packages 6,192 6,013 Number of mortgage loans accounts (**) 333 346 of which PLN mortgage loans accounts 321 331 Number of Pożyczka Ekspresowa loan accounts (***) 572 575 (*) Number of accounts including accounts of prepaid cards. (**) Retail customers accounts. (***) Pożyczka Ekspresowa, Pożyczka Ekspresowa Biznes. The data presented according to the business model based on the managerial model in which the main criterion for dividing the Group's reporting is the classification of the client depending on his profile and service model.
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22 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Retail Banking And Private Banking In 2025, we focused on adapting services for individual customers so that the use of our solutions would be more intuitive and in line with their expectations. We have supported various groups of clients, including younger and professionally active people, by offering them solutions that meet their needs in everyday situations. Number of clients and accounts In 2025, we opened a total of 4 97.5 thousand Kont Przekorzystnych and Świat Premium Accounts, including 172. 5 thousand for clients up to 26 years of age, which accounts for 35%. We have maintained high acquisition results and are among the top 5 banks with the highest net account growth year -on-year. Bank Pekao's share in the increase in the number of net account s on the market amounted to 17% y/y. The year 2025 was another year in which we maintained high sales of Konto Świat Premium accounts, with a total of 36 thousand accounts dedicated to affluent clients depositing at least PLN 200 thousand on the Bank's savings products. More than 21 thousand of these accounts were opened by new customers. The most popular account benefits include: - attractively interest-bearing Konto Oszczędnościowe Premium with promotions for new customers (e.g. 6% up to PLN 200 thousand for 4 months), - promotion of 10,000 miles under the Miles & More program for the purchase and active use of the "Karty Kredytowej z Żubem", - access to a wide range of savings and investment products, including the possibility of purchasing Treasury Bonds. We achieved a record level of client acquisition in the Private Banking segment – nearly 2 thousand new clients. We have also established cooperation with over 300 Family Foundations as part of the Family Office. Since the beginning of Family Office's operation, i.e. since May 2023, we have been servicing a total of less than 700 accounts. Marketing campaigns for the Konto Przekorzystne and Savings Account The sales results were significantly influenced by the marketing campaigns conducted in 2025 for the Konto Przekorzystne with a Savings Account with a high interest rate and the " Okazje z Żubrem" discount program. The campaign was carried out on TV, on Internet portals and in social media. We have also made available to our customers a wide and comprehensive package "Supermoce w podróży ", including practical solutions supporting convenient payments while travelling, including a novelty on the Polish market - a payment ring that enables contactless payments without a wallet, without a phone and without the need to recharge. Online Account Promotions We have carried out successive editions of online account opening promotions. Customers who met the conditions of the promotion, i.e. actively used their debit card and gave marketing consents, could receive attractive bonuses in the form of a transfer to their account, up to PLN 400. Promotion of PeoPay cards and applications We actively promoted card sales and the PeoPay application among young customers by introducing new card images inspired by gaming. As part of the Mastercard Bezcenne Chwile program, we have prepared a special catalogue of rewards and a promotion for people registering a card with such an image. Our card lineup has been expanded with 10 new gaming graphics Marketing with Costa Coffee In cooperation with the Costa Coffee café chain, we offered the Bank's individual customers with Pekao cards a 50% discount on all beverages prepared by the barista. As part of this, we also carried out a marketing campaign in Costa Coffee cafes, in the Bank's branches, outdoor space in the largest cities in Poland, as well as in online channels and social media. Children's offer and campaigns We conducted active marketing activities to support the offer of selling accounts for children and young people. We encouraged parents to set up their child's first account by offering attractive promotions related to opening an account. We carried out campaigns on the radio, social media, as well as on advertising media located in places where families spend common activities, such as swimming pools or water parks. We offered attractive interest rates in the “Mój Skarb” savings account. In campaigns addressed to children and parents, we consistently emphasize the importance of talking about finances and building good saving habits from an early age.
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23 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Educational projects for families – “Bajki Oszczedzajki” On the occasion of the 5th birthday of the PeoPay KIDS application, together with Empik, we have prepared " Bajki Oszczedzajki" - a series of stories that bring children and parents closer to the basics of financial knowledge in an accessible way. The audiobooks are available on the Bank's YouTube channel and in the Empik Go app. Back2School Campaign and Educational Materials As part of the Back2School campaign, we promoted our offer for the youngest. In cooperation with the Fundacją Powszechnego Czytania, the Bank has prepared a children's book entitled "Porwanie Pana Złotówki", which introduces children to the subject of saving in an accessible way and promotes values such as friendship, reason and honesty. Activities for Teens For teenagers, we have launched a map of the bank, in one of the most popular games in this age group - in Roblox called "Grow your money". It is an innovative educational space where users learn how to manage their budget and invest, and for their activity they receive rewards in the form of additional in-game gadgets. Since its launch, the map has been in high demand and has been played by more than 400 thousand players and more than 800 thousand times. The implementation of the map was also accompanied by the preparation of new images of payment cards inspired by characters from Roblox. Offer and campaigns for young customers For customers aged 18 - 26, we have prepared an offer of the Konto Przekorzystne for PLN 0 and we have carried out activities to support their passions related to music and gaming. The Bank was m.in partner of the Bittersweet festival and one of the largest gaming events in Poznań Game Arena. We continued our partnership with the gaming ambassador and the development of the Money Tycoon map in Fortnite, which was made available to players in December 2024. In addition, we have prepared a guide "ABC oszczędzania", which helps young customers develop the ability to consciously manage their finances and make responsible financial decisions. By combining financial education with entertainment, we want to inspire young people to consciously manage their finances. Development of electronic and mobile banking In 2025, the number of active mobile banking customers increased by 294 thousand to 3.7 million, i.e. +9% more than a year ago and +19% more than two years ago. The number of active mobile customers using the PeoPay application increased by 328 thousand to 3.5 million and was +10% higher than a year ago and +23% higher than two years ago. (*) Unique user actively using electronic banking is a user who logged in to the system and the mobile service m.pekao24.pl. at least once during the last quarter (in case of using different mobile channels the client is counted only once). (**) Unique user PeoPay application who logged in to the system PeoPay at least once during the last quarter. Activation and login improvements - Simplified activation of PeoPay in the branch – the optimized process enables more efficient and faster implementation of the service in the branch, which translates into more effective bill sales and customer service, as well as supports user mobility, - Optimising the identity verification process on a selfie, increasing the convenience and effectiveness of remote identification, - Logging in to Pekao24 without a password – on trusted devices, it is enough to approve logins in PeoPay or using a hardware key, - A new process of activating the PeoPay application with the use of e-ID, ensuring quick and safe launch of the application. (ths.) (ths.)Mobile banking users (*) PeoPay users (**) 3 136 3 431 3 725 2023 2024 2025 +9% +19% 2 873 3 200 3 529 2023 2024 2025 +23% +10%
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24 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Changes in the area of security - Notification Center in PeoPay: introduction of a dedicated section for security messages, thanks to which the customer has constant access to the received alerts, - CyberRescue – round-the-clock assistance in the area of cybersecurity and ongoing notifications about threats and methods of fraudsters, - Behavioural protection – analysis of the way of typing, moving the cursor or gestures on the screen allows you to create an individual behavioural profile of the customer and increase the security of their data and funds in electronic banking, - Automatic generation of a consultant's authorization card – confirmation of the identity of the hotline consultant directly in the application, which increases the security of contact with the Bank. Improving the ergonomics and appearance of the application - New Peako24 dashboard – refreshed appearance and significant improvement of the website's usability, - Live Activities – the ability to track the validity of tickets and parking time in real time in the PeoPay application, - “Twoje Sprawy” section in the PeoPay application – introducing a single place for the processing of all the most important banking matters, - Changes resulting from the WCAG Accessibility Act: adapting the website and applications to the requirements increasing accessibility for all users. Changes to transfers - Sorbnet transfer – adaptation of the process to the new regulations introducing the SORBNET3 system, - Serial transfers, enabling the execution of multiple transfers in one order, - Series of split payment transfers, enabling the execution of multiple transfers at the same time in the Pekao24 service. New features - Payment rings – enabling payments to be made with them, thanks to the tokenization of Bank Visa and Mastercard cards (both debit and credit), - - e-vignettes for the purchase of electronic vignettes for motorways and roads in Bulgaria, the Czech Republic, Slovakia, Slovenia, Switzerland and Hungary. Key retail loans: PEX cash loans and mortgage loans PEX cash loans In 2025, we achieved very good sales results in the area of cash loans. The value of cash loans granted amounted to PLN 7.4 billion in net volumes, i.e. +17% compared to 2024. The gross value of the new contracts reached PLN 8.9 billion. i.e. +21% y/y. High sales and a high share of net volume in the value of signed agreements (new financing granted to customers) translated into an increase in the value of the cash loan portfolio by + 13.1% y/y, with slightly higher dynamics compared to the banking sector. In 2025, we achieved record sales of cash loans granted electronically - PLN 6.0 billion, i.e. +2 5% y/y. We are consistently increasing the share of loans granted remotely through the Pekao24 service, the PeoPay mobile application and via the Bank's online. We develop sales processes, focusing on the comfort of customers by implementing new loan offers and solutions that simplify obtaining financing, transferring loans from other banks and at the same time increasing the level of security. In 2025, we implemented new solutions to make it easier for customers to take advantage of cash loans, including: - increasing the limit of a loan available without the consent of the spouse to the amount of PLN 100 thousand, - a new model of Risk Based Pricing, which allows you to offer a lower price to customers with the best risk profile, - new consolidation processes, facilitating the transfer of the loan to Bank Pekao or the combination of repaid installments in Pekao, which allows to reduce the amount of repaid installments or obtain additional financing, - new CPI insurance for cash loans with a regular premium, - maintaining very competitive price conditions of credit offers.
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25 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. is the only bank in Poland that offers loans to finance tuition fees for paid medical studies. Students can apply for a loan at the beginning of each semester and take advantage of interest rate subsidies, a guarantee granted by BGK, and the possibility of full or partial redemption. So far, almost 5.7 thousand customers have benefited from the loan, for a tota l amount of over PLN 1.26 billion, of which we have already released almost PLN 420 million for the semester tranches of the loan. Mortgage loans In 2025, sales of housing loans reached PLN 10.8 billion, i.e. an increase of 35% y/y compared to PLN 8.0 billion in sales of standard loans obtained in 2024 (excluding PLN 3. 3 billion of loans under the Safe Loan 2% offer sold in 2024 under the government's housing support program). The achieved sales results allowed us to achieve our sales targets. We have been updating our mortgage loan offer on an ongoing basis and adapting it to the changing conditions and market needs in order to keep it among the best offers on the market. The offer has been extended, m.in, to include an offer for uniformed services, for customers refinancing loan liabilities from other banks. We also introduced preferential terms for loans above PLN 500 thousand, which allowed us to reach wealthier customers from larger cities with more specific financial needs. In October 2025, we introduced a new PZU Dom home insurance offer, available both as a product linked to a mortgage loan and as a stand-alone offer for all clients. Digitization of the mortgage process remains one of the key directions of the Bank's development, and intensive activities in this area are planned in the coming months. An important element of this transformation is the new mortgage process, the production version of which was launched at the end of 2025. In the first stage, we implemented it in selected macro -regions, while at the beginning of the first quarter of 2026, the process will be successively made available to other regions, and th en also to intermediaries. The Bank's activities are appreciated and rewarded. We became the winner of the " Złoty Bankier" ranking in the category of mortgage loans – as a " Hipoteczny multitool". The Bank has been described as a multi -tasking mortgage that offers a full package of proposals in terms of the interest rate formula and the amount of the required own contribution, also being at the forefront in terms of amounts available to the customer and borrowing costs. In 2025, we transferred part of our mortgage loan receivables to Pekao Bank Hipoteczny. The total number of loans transferred so far is over 18.5 thousand with a value of over PLN 3.9 billion. Business clients loans Acquisition and sale of financing In 2025, new sales of financing to business customers in total (loans, leasing and factoring) amounted to PLN 3. 3 billion and were higher by +13,5% y/y. Sales of bank loans in the business segment amounted to PLN 1.4 billion. Sale of financing for business clients (PLN million) 2 351 2 916 3 308 2023 2024 2025 +41% +13%
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26 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Development of digital channels and self-service processes Bearing in mind the growing expectations and needs of business customers, the Bank has consistently developed digital channels and self-service solutions. A key element of the activities was the further digitization of processes and increasing the availability of the credit offer in online and mobile banking. Credit offer and sales support activities We continued our strategy of developing sales of credit products in remote channels. We have prepared for our clients the possibility of obtaining attractive financing terms of up to PLN 300 thousand, in a simple and quick credit procedure. Pre -limit solutions, which shorten the time needed to raise funds, were a great facilitation. For clients with liabilities in other financial institutions, we have prepared a special consolidation offer. It allows you to put your finances in order and take advantage of preferential conditions and strengthen your relationship with the Bank as your f irst choice bank. We supported sales with solutions enabling the settlement of liabilities from other banks, seasonal promotional offers, such as "Zima" and "Wiosna taniej online", as well as cooperation with sales partners. These measures have increased the availability of credit offers and improved the customer experience. In the business customer segment, we carried out intensive work related to optimization and digitization processes. The result of this work is a simplified and fast credit process, also available in remote channels. Development in the area of insurance products In 2025, we expanded our offer with two new insurances available in all distribution channels: - CPI with regular premium linked to the PEX product, - PZU DOM real estate insurance with a wide range of protection, available both as part of a mortgage loan and in the standalone formula as a standalone product, In the service area, we have introduced solutions that improve the quality of customer service. One of them is the optimization of the claims process, which translates into more efficient service and shorter time of case processing. We supported sales with marketing activities and personalized communication using CRM. Thanks to these activities, we have strengthened the knowledge of our insurance offer and current promotions, especially regarding travel and motor insurance during the holiday season. Our insurance offer was becoming more and more popular among customers, and we achieved high sales dynamics y/y in insurance not related to banking products. The number of standalone policies sold in 2025 was 80% higher y/y. The dynamics of sales of automotive/motor insurance amounted to +58% and travel insurance +86% y/y. A large increase in policy sales was recorded in remote channels, where the number of concluded contracts was almost twice as high as in 2024. The share of the number of mortgage loans sold with insurance (for which such an offer could be available) remained at a stable high level of 94,2%. In the case of the number of cash loans sold, this share amounted to 34,3%. In 2025, we sold insurance policies generating over PLN 8 20 million in GWP, which is an annual record for Pekao’s bancassurance business. Our share in the bancassurance market at the end of 2025 is 16.2% Deposit, brokering activity and sale of investment products Our savings offer was very popular among customers. At the end of December 2025, the total value of deposits held by retail customers (including Private Banking customers) and business customers reached PLN 169.7 billion, representing an increase of PLN +6.7 billion (+4.1%) compared to the end of 2024. The value of assets invested in TFI Pekao's products and certificates of deposit increased to PLN 35.9 billion, up by PLN +7.5 billion (+26.5%) compared to the end of 2024.
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27 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 In 2025, savings accounts were very popular among individual customers, including cyclical promotions for new customers and holders of Savings Accounts and Premium Savings Accounts with an attractive interest rate of 7.0% for 4 months up to PLN 100 thousand. which translated into an increase in the total balance on savings accounts by the end of December 2025 by almost than PLN 2.1 billion (+7.5%). For clients who prefer traditional forms of investing funds, we offered a wide range of term deposits with attractive interes t rates. Deposits were available both in remote channels (e.g. Lokuj z Nami deposits, Lokata dla Ciebie deposits) and in branches. Customers were also interested in savings products for children up to 18 years of age, including Moj Skarb accounts and Skarbonki, which allow you to save for specific purposes. In 2025, we achieved record net sales of investment products of PLN 19.3 billion, compared to PLN 17.5 billion in 2024. Clients interested in investing their savings in investment products had access to a wide range of Pekao TFI funds, products combining the advantages of deposits and investments (Deposit with a Fund and Investing Deposit) and to numerous issues of structured products with full capital protection available in three currencies: PLN, EUR and USD. In 2025, there was also a very high interest in retail Treasury Bonds, which constituted an important element of the offer. We supported the process of self-purchase of investment products in remote channels in the application through periodic offers with preferential price conditions. As a result, the number of customers who purchased investment products in the PeoPay application and in the Pekao24 service grew systematically. Deposits (PLN billion) Investment funds (PLN billion) 163,1 165,6 167,3 165,5 169,7 Dec '24 Mar '25 Jun '25 Sep '25 Dec '25 +4,1% +2,5% 32,2 34,7 36,5 38,7 41,2 Dec '24 Mar '25 Jun '25 Sep '25 Dec '25 +28,1% +6,5%
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28 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Enterprise Banking Corporate banking includes the small and medium -sized enterprises (SMEs) segment and the mid -sized corporations (MID) segment. In 2025, we continued our efforts in the field of automation and digitization, also developing new functionalities in electro nic banking and increasing the scope of customer self -service. By focusing on streamlining processes and improving the quality of service, we strengthened our competitive advantages in the SME and MID segments, which allowed us to further strengthen the Bank's position on the market. Lending activities and customer financing We provide our clients with a wide and comprehensive financing offer, including loans, leasing, factoring, organization of issues and other specialized forms of financing tailored to the needs of companies. The value of new loans sold (excluding renewals) in the SME segment reached PLN 7.7 billion, up +16% y/y, while in the MID segment the value of new loans sold amounted to PLN 16.0 billion (+19.5% y/y). As at the end of December 2025, the volume of the total loan portfolio (loans, leasing and factoring) amounted to PLN 44.4 billion and was higher by PLN 5.1 billion y/y (by 13.1%). The increase in the volume of the financing portfolio was recorded in both the MID and SME segments. Customer acquisition In 2025, we acquired 2.8 thousand customers in the SME segment and 1.1 thousand new customers in the MID segment (+26% y/y). We have implemented relational acquisition initiatives to support the development of cooperation. Together with the Warsaw Stock Exchange and the Dom Maklerski Pekao, we organized a series of meetings "Z Żubrem na giełdę", promoting the activity of enterprises on the capital market. We conducted a regional series of workshops " Zrównoważony kierunek – od trendów do przewagi konkurencyjnej ", during which we presented the current regulatory framework, practical case studies and available forms of financing for the transition to sustainable development to companies. Implementations and product changes In 2025, we signed an agreement with the European Investment Fund (EIF) under the InvestEU programme, which enables the granting of preferential financing with a total value of over PLN 1.25 billion, with guarantees securing up to 80% of the loan amount granted by the Bank. As a result of this cooperation, we have introduced new EIF guarantee instruments to our offer: - The InvestEU Green Guarantee, supporting projects in the area of sustainable development, - The InvestEU SME Guarantee, aimed at boosting the competitiveness of small and medium -sized enterprises. We have expanded the availability of mortgage loans and SMEX express loans for customers from the small and medium - sized enterprise sector. As a result, more companies have been able to take advantage of flexible forms of financing tailored to their needs. We have increased the limit for guarantees under the Investmax programme, which has allowed SME clients to obtain higher credit collateral and increase the scale of their investments. We have introduced credit products based on the POLSTR index, providing customers with access to financing based on the new benchmark. We carried out activities aimed at optimising key credit processes, which translated into an increase in efficiency and a reduction in the time it takes to issue a credit decision. We continued to develop remote service channels. We have made available to our customers the revitalized PekaoBiznes24 system and the new PeoBIZ 2.0 mobile application, which significantly improve the quality of service by increasing intuitiveness and functionality. Financing (PLN billion) 39,3 40,7 42,5 44,0 44,4 Dec '24 Mar '25 Jun '25 Sep '25 Dec '25 +13,1% +0,8%
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29 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 We have expanded the functionalities related to customer onboarding in remote and stationary channels. As a result of the measures taken, the digitization rate for the SME, MID and Corporate segments reached a level in 2025 10 p.p. higher than in the previous year. Security, Development and Transformation Initiatives As part of the European Cybersecurity Month, the cyberPEKAO Academy was held – an educational event under the slogan "Man is the best firewall". The meeting brought together experts in the field of finance, technology and digital security. Participants exchanged knowledge, experiences and best practices, which strengthened joint efforts to be resilient to today's cyber threats. We have signed an agreement with the Industrial Development Agency, which supports enterprises and the development of investments in key sectors of the economy. The cooperation includes joint financing of projects, development of business relationships and training programmes for employees of both institutions. Together with the Polish Chamber of Commerce (KIG), we have started activities to support small, medium and listed MIDcaps companies in the green transformation. The initiative includes education, dedicated financial solutions and the "Sustainable Business with Bison" platform, where we provide materials, guides and news. Entrepreneurs also gain access to free webinars conducted by Pekao and KIG experts. Corporate And Investment Banking The Corporate Banking includes corporate segments, significant capital groups (the so-called large corporations), public sector clients, financial institutions as well as commercial real estate, specialized financing and customers of the Brokerage Offic e Centre. The Pekao Group is a leader in serving these segments. It has a competitive advantage resulting from experience, unique staff, specialized knowledge and processes and the potential to co-finance large projects based on a very strong liquidity and capital position. The Bank provides both the comprehensive services of a universal bank and the services in such areas as leasing, factoring, investment advisory services, advisory in M&A as well as highly advanced treasury, capital market products and custo dy services. A wide range of products and services, innovative solutions, customised approach and the comprehensive financial services for the largest enterprises, institutions and public sector units are appreciated by clients and determine the strength of corporate banking of Bank Pekao S.A. Clients At the end of September 2025 we served over 7 thousand corporate clients. We provide support in terms of substantive, operational and financial development of our clients both in everyday business as well as in large strategic projects. Investment banking, structured finance and commercial real estate We offer our clients the services in the field of investment banking, structured finance and financing of commercial real est ate projects, including financing of the construction of warehouses. The key projects financed by the Bank in 2025 include: - co-financing the construction of further wind farms in the Baltic Sea; the amount of financing amounted to over EUR 6 billion, - granting financing to a leading European company operating in the e-commerce and courier industry; the syndicated loan amounted to EUR 4.2 billion, - granting a syndicated loan to the Polish champion of the mining industry ; the amount of financing amounted to USD 1.5 billion. The funds will be used for further development of business activity, - granting financing to a company which holds a leadership position in the clothing industry in Poland; the amount of financing amounted to EUR 505 million and 2.8 billion zlotys, - granting a syndicated loan to finance the current operations of a leading company from the Polish energy industry and to finance the construction of CCGT power blocks with a nominal gross electric power capacity of 668Mwe; the amount of financing amounted to 6.45 billion zlotys, - granting syndicated financing to a leading company from the e-commerce industry in Poland; the amount of financing amounted to 6 billion zlotys, - granting syndicated financing in the form of a revolving credit line (RCF) to one of the largest energy companies in Central and Eastern Europe. The purpose of the financing was to finance the general corporate needs of the Group and its entities, including the financing of potential acquisitions. The total amount of funding amounted to EUR 740 million, - granting syndicated financing for the development of fibre optic infrastructure; the financing amounted to 3.7 billion zlotys, - granting a syndicated loan for the construction of a CCGT power block with a nominal gross electri c power capacity of 563MWem; the amount of financing amounted to 2.2 billion zlotys,
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30 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 - participation in a syndicated loan arranged for a leading European company involved in glass processing; the total amount of financing amounted to approximately EUR 480 million, - arranging syndicated financing for the refinancing and development of the retail network in Central and Eastern Europe; financing amounted to EUR 300 million, - granting a syndicated loan to a leading company operating in the retail industry; the amount of financing amounted to 875 million zlotys, - granting syndicated financing for the construction of an offshore wind farm with a target capacity of 390 mW; the amount of financing amounted to EUR 1.8 million and 566 million zlotys, - granting syndicated financing to a capital group managing a chain of four -star hotels in Poland. The funds raised were used to refinance the existing debt and to meet the Group's general needs. The total amount of funding amounted to EUR 134 million. Issuance of debt securities In 2025, the Bank participated in the issuance of non-treasury debt securities (of corporate entities, banks and municipal units) for the total amount of more than 62.1 billion zlotys, of which the following transactions deserve special attention: - issue of 13 series of bonds of Pekao Leasing for a total amount of over 7.5 billion zlotys and the issue of 41 series of bonds of Pekao Faktoring for a total amount of over 27.4 billion zlotys, in which the Bank acted as the sole arranger and dealer, - issue of 8 series of bonds of Pekao Leasing for a total amount of over 4 billion zlotys and the issue of 18 series of bonds of Pekao Faktoring for a total amount of 12.4 billion zlotys, in which the Bank acted as the sole arranger and dealer, - issue of 4 series of bonds of Pekao Leasing for a total amount being the equivalent of over 2.2 billion zlotys and the issue of 11 series of bonds of Pekao Faktoring for a total amount of over 8 billion zlotys, in which the Bank acted as the sole arranger and dealer, - issue of 6 series of bonds of Pekao Leasing for a total amount of over 3.5 billion zlotys and the issue of 12 series of bonds of Pekao Faktoring for a total amount of over 7.7 billion zlotys, in which the Bank acted as the sole arranger and dealer, - issue of two series of bonds held by the issuer, including the subordinated Tier 2 equity bonds in the amount of 750 million zlotys in the 10nc5 format on the domestic market, and the senior non -preferred bonds in the 6nc5 format in the amount of EUR 500 million on the international market. the Bank acted as a coordinator and dealer in both transactions, - issue of the Bank's senior green bonds in the 7nc6 format in the amount of EUR 500 million on the international market, in which the Bank acted as a coordinator and dealer, - issue of subordinated Eurobonds (Tier 2) of the Bank in the 10.25nc5.25 format in the amount of EUR 500 million, in which the Bank acted as a global coordinator and joint bookrunner, - issue of 7-year bonds for an integrated multilateral financial institution in the amount of 2 billion zlotys, in which the Bank acted as a coordinator, co-arranger and dealer, - issue of 7-year bonds for a company which is one of the world's largest producers of copper and silver in the amount of 1.6 billion zlotys, in which the Bank acted as a co-arranger and dealer, - issue of 5 series of bonds of Pekao Bank Hipoteczny for a total amount of over 1 billion zlotys, in which the Bank acted as the sole arranger and dealer, - issue of 5-year bonds for a company operating in the employee benefits sector in the amount of 1 billion zlotys, in which the Bank acted as a co-arranger and dealer, - issue of 5-year bonds linked to sustainable development for a retail company in the amount of 1 billion zlotys, in which the Bank acted as the arranger, coordinator and dealer, - issue of 7-year Eurobonds for a multilateral financial institution with the highest rating for a total amount of 1 billion zlotys, in which the Bank acted as the sole arranger and dealer, - issue of 5 -year bonds in the amount of 1 billion zlotys for a shopping platform which is one of the largest e -commerce companies in Europe, in which the Bank acted as an additional dealer, - issue of 5-year green bonds for a company from the telecommunications industry in the amount of 700 million zlotys, in which the Bank acted as the arranger and dealer, - issue of 3-year bonds for a leasing company belonging to a global automotive concern in the amount of 600 million zlotys, in which the Bank acted as the coordinator and dealer,
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31 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 - issue of 5 -year green bonds for a retail company in the amount of 600 million zlotys, in which the Bank acted as the arranger and the dealer, - issue of 2 series of 4 -year mortgage covered bonds of Pekao Bank Hipoteczny S.A. for the total amount of 500 million zlotys, in which the Bank acted as the sole arranger and dealer, - issue of 3-year bonds for a leasing company belonging to a global automotive concern in the amount of 500 million zlotys, in which the Bank acted as the sole arranger and dealer, - issue of 2.5-year bonds for the leasing company belonging to an international financial group in the amount of 200 million zlotys. The Bank was the sole arranger and dealer. Cooperation with financial institutions and custody services We hold a leadership position in serving domestic financial institutions . We focus on providing the highest quality services to insurance companies, investment funds, brokerage houses, financial sector infrastructure entities, cooperative banks as well as savings and credit unions. Our offer includes modern transactional banking products, clearing products, treasury products, custody services and services of a depository bank. In 2025, we were increasing our market share in custody services and depositary banking in Poland thanks to growing assets, including further acquisitions. In September, we began a long-term cooperation with the International Finance Corporation (IFC) from the World Bank Group. We concluded an agreement concerning the possibility of IFC participating as an investor in selected bond issues of Bank Pekao. The IFC's commitment will amount to USD 250 million, and these funds will be fully allocated to finance the pro- environmental projects, including the so-called ‘blue financing’, such as improving water usage efficiency. In the second half of 2025, we guaranteed financing for Pekao Leasing in the form of loans granted by development banks: - EUR 35 million - loan tranche from the European Bank for Reconstruction and Development (EBRD). Around 60% of the funds will be used to finance green investments, including projects to improve energy efficiency, resource and water efficiency, develop renewable energy and reduce waste, - EUR 125 million - the second tranche of the loan granted by the Council of Europe Development Bank (CEB) intended to finance investments and development of micro, small and medium -sized enterprises in Poland. We cooperate with banks from all over the world. We have more than 1.3 thousand exchanged swift keys. We have a direct or indirect access to major clearing systems . We maintain nostro and loro accounts for a very large group of foreign banks . We have the infrastructure to ensure efficient foreign settlements in 20 major currencies. For the thirteenth time, we have won a prestigious ‘Best Sub -Custodian Bank’ award granted by Global Finance magazine, which confirms our leadership position on the Polish custody services market. Brokerage activity As at 3 1 December 2025, the Pekao Brokerage Office maintained a total of over 206 ,6 thousand investment accounts and 197,5 accounts for retail treasury bonds, which marks an increase of 64% in comparison with the end of 2024, including over 362,9 thousand accounts with active access to services via remote channels. Direct services were provided through a nationwide network of 418 brokerage branches in 385 locations. As at 31 December 2025, the value of assets of the Pekao Brokerage Office amounted to 78,66 billion zlotys. Transactional banking In 2025, in the area of transactional banking we recorded: - an increase in the number of outgoing foreign transfers by +14,5% y/y and the incoming foreign transfers went up by +6% y/y), - an increase in the number of processed Direct Debit transactions by + 3,1% y/y, with a simultaneous increase of transaction volume of +19.8%, - an increase in the number of transactions received un der Pekao Collect service by +6,5% y/y while the volume of these transactions rose by +3.5%. In the PekaoBiznes24 Self-Service Zone, we made available a new functionalities which increase the comfort and security of customer service. The range of new functionalities included: - the application for "Changing the card settings" which allows you to assign or change a phone number for the 3D Secure service and apply for an e-PIN code for online transactions,
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32 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 - a new version of the application: "Change of statement settings" which allows you, among other things, to specify the frequency of generating statements from current accounts and VAT accounts, enable or disable the provision of separate statements for VAT accounts, and change the form of providing statements from paper to electronic, - the application for "Changing the limits of credit and charge cards" which allows you to change the card limit for cash, non-cash and online transactions, - we have expanded the functionality of the Direct Debit (DD) service in terms of authorization and payment processing as well as consent management. Consents are handled in digital form and clients receive a message confirming that the consent was created when the DD is charged for the first time, - a request for the closure of a VAT account which allows you to submit an instruction to close a VAT account, to indicate another existing VAT account to be linked to settlement accounts, to indicate the account to which the funds from the closed account are to be transferred, - the application for early capitalisation of interest at the end of the year, - the application for the consolidation of balances at the end of the year, available only to public sector customers, - the application that allows you to block and unblock debit and credit cards, - the application for ordering prepaid cards, including the opening of a new card program, the choice of card image, the setting of limits and the scope of reporting balances or transactions, - the first templates of product documentation forms which allow clients to independently order changes to their products as part of the general instruction, including: blocking funds for the benefit of another entity, updating the data of representatives an d changing the parameters of cards, such as: changing the name of the cardholder on the card, changing the correspondence address, changing the account number for repayment, charging fees or settling card transactions and the form of providing statements. We made changes to the Autowihdrawal service. The new version of the service provides full automation of order processing. It simplifies the process in the Bank's systems and shortens the time of service in branches. We have implemented support for cash payments with the use of QR code readers. This solution reduces manual data entry in the Bank's branches for both open and closed deposits in favo ur of automatic reading of the information from QR codes. Reading data from QR codes speeds up the service process and supports the optimization of the time and costs of cash transactions. Since June, the Bank's customers have been able to deposit cash in zlotys using debit cards and Cash Card deposits in the Euronet ATM network. Trade finance In 2025, we consistently pursued our strategy aimed at developing tools supporting the handling of trade finance products and access channels, including the Online Guarantees and Open Financing Platform systems. As part of these activities, we have provided new functionalities and ensured the highest level of service standards and customer satisfaction . In 2025, we recorded a double -digit dynamics of growth in the area of granted guarantees and sureties - the amount of new transactions increased by 13% as compared to 2024, whereas the exposure resulting from guarantees and sureties increased by 8% year-on-year. We also achieved a significant increase in the volume of financial products. The value of newly financed transactions was higher by 23% than in the previous year, and the level of exposure increased by 42%. As part of the Open Financing Platform (OFP), we financed nearly 113 thousand invoices with a total value of nearly 2.6 billion zlotys, which translated into a 81% increase in the number of transactions and a 23% increase in the value of these transactions as compared to 2024. The use of modern technological solutions made it possible to make the O FP Loan available to customers. This product uses automatic monitoring of the implementation of selected credit clauses, which increases operational efficiency and process security. Customers have gained the ability to remotely, fully electronically manage the agreement and have the ongoing online access to its parameters.
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33 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Cooperation with international clients We support the expansion of Polish enterprises on both European markets and in developing countries. We offer comprehensive solutions for short and long-term financing and the solutions for hedging risk of international transactions. The Bank’s clients can take advantage of the package of the most beneficial financial solutions adjusted to the model of the conducted business activity. We provide solutions for companies looking for opportunities to finance their investments in green transformation. The clients of Bank Pekao can take advantage of the guarantee program offered by the Export Credit Insurance Corporation (KUKE). This program will facilitate the financing of expenses related to energy transformation and implementation of investment projects which will allow our economy to achieve climate neutrality. In 2025, the Bank concluded an agreement with the International Finance Corporation (IFC) under the Global Trade Finance Program (GTFP). As a result we can offer our clients c arrying out cross-border trade transactions new solutions guaranteed by a financial institution with a AAA rating. The guarantee provided by the IFC includes letters of credit, trade-related promissory notes, bid and performance bonds, advance payment guarantees, and supplier credits for imports of capital goods. Comprehensive cooperation with public finance sector entities An important element of our strategy is to finance public sector and municipal projects. We are actively involved in activities related to building and developing Polish infrastructure, including the support for sustainable development of the economy and environmental protection. We render our services and we provide financing to self -government units, municipal companies, institutions of higher education as well as entities established as part of public -private partnership. We cooperate with 11 out of 12 Polish metropolises (92% market share) and we provide ongoing budget support for six of them. We cooperate with every seventh municipality in Poland. We maintain business relationships with 64% of towns with county rights and we provide ongoing services to every fifth of them. We also cooperate with every fourth county (25%) and with more than a half of provinces (56%). We are a major bank for state universities – more than 50 of them use our services.
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34 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 7.2 Major areas of activities of the Group’s subsidiaries Summary of companies' financial results In 2025, the companies of the Pekao S.A. Group generated a net profit of PLN 354 million. Compared to the net profit generated in 2024, it was higher by PLN 163 million, i.e. by 85.3%. The table below presents the level of net profit of individual consolidated companies in 2025 compared to 2024. Entity structure of net profit (mln zł) 2025 2024 CHANGE Entities consolidated under full method 354 191 85.3% Pekao Investment Management S.A. (*) 235 168 39,9% Pekao Leasing Sp. z o.o. 113 108 4,6% Pekao Investment Banking S.A.(**) 15 3 >100% PEUF Sp. z o.o. 14 9 55,6% Pekao Bank Hipoteczny S.A. 14 5 >100% Pekao Financial Services Sp. z o.o. 11 10 10,0% Pekao Faktoring Sp. z o.o. (54) (129) (58,1%) Other (***) 6 17 (64,7%) Entities valued under the equity method Krajowy Integrator Płatności S.A. (6) 7 x (*) Consolidated profit - Pekao Investment Management S.A. prepares consolidated financial statements with Pekao TFI S.A. for the purposes of consolidation of the Pekao S.A. Group. (**) Consolidated profit - Pekao Investment Banking S.A. prepares consolidated financial statements for the purposes of consolidation of the Pekao S.A. Group with Pekao Inwestycje Dłużne Sp. z o.o. (***) It includes the results of 4 companies from the Group (Centrum Kart S.A., Pekao Direct Sp. z o.o., Pekao Fundusz Kapitałowy Sp. z o.o., Pekao Property S.A. in liquidation), which conduct ancillary activities in the Group without providing services to external customers. Business activities of selected companies Pekao TFI https://pekaotfi.pl/o-nas/pekao-investment-management Pekao IM, in which Bank Pekao S.A. holds 100% of shares, is the owner of Pekao Towarzystwo Funduszy Inwestycyjnych S.A. (Pekao TFI). Pekao TFI, the longest-operating investment fund company in Poland, offers state -of-the-art products enabling investment on the domestic and foreign markets. The Company creates savings programs, including solutions under the third pension pillar, as well as provides portfolio management services and operates Employee Capital Plans. Pekao TFI is included in the ECP register and its offer is available on the www.mojeppk.pl portal. As at 31 December 2025, the net asset value of Pekao TFI's investment funds (including PPK) amounted to PLN 41,224 million and was higher by PLN 9,035 million, i.e. by 28.1% compared to the end of December 2024, thanks to the favourable situation on the ca pital markets and falling interest rates, mobilising clients to look for products with potentially higher rates of return than bank deposits. Pekao IM's consolidated net profit for 2025 amounted to PLN 235 million, compared to PLN 168 million in 2024. Two Pekao TFI funds were awarded for their performance in 2024 with the "Golden Portfolios" statuette in the TFI of the year category awarded by Gazeta Giełdy i Inwestorów Parkiet. Pekao Leasing Pekao Leasing - Pekao Leasing Sp. z o.o Pekao Leasing provides financial services supporting the sale and purchase of fixed assets, i.e. means of transport, machinery and equipment, as well as office real estate – both through operating and financial leases. The Company cooperates with Bank Pekao S.A. in the sale of leases to customers who are also the Bank's customers. Pekao Leasing, under agreements with the European Investment Bank, the Council of Europe Development Bank and the European Bank for Reconstruc tion and Development, offers financing for the SME sector on preferential terms, in particular for green projects and initiatives supporting female entrepreneurship. The company also cooperates with Bank Gospodarstwa Krajowego S.A., offering financing of vehicles as well as machinery and equipment secured by a BGK guarantee.
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35 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 In 2025, Pekao Leasing concluded over 24.6 thousand new contracts. The value of assets leased by the Company amounted to PLN 7,839 million and was higher by 12.5% than in 2024, including: 60% of the assets leased by the Company, 34% by machinery and equipment, 4% by real estate, and 2% by others. As part of the diversification of financing sources, Pekao Leasing issues bonds. As at 31 December 2025, liabilities under th e issued bonds amounted to PLN 9,717 million. In 2025, Pekao Leasing generated a net profit of PLN 113 million compared to PLN 108 million in 2024. The Company's higher result was achieved thanks to an increase in the value of leased assets. PeUF PeUF is a company 100% owned by Pekao Leasing Sp. z o.o. and acts as an insurance agent, providing services in the field of insurance sales. PeUF provides Pekao Leasing with insurance for newly concluded lease agreements, policies and renewal policies. PeUF's activities include agency services, including policy monitoring, claims settlement and handling of insurance terminations. In 2025, PeUF provided intermediary services to seven insurance companies. The value of commissions from policies sold amounted to over PLN 56 million and was higher by 16.5% than in 2024. In 2025, PeUF generated a net profit of PLN 14 million, compared to PLN 9 million in 2024. This increase is due to the increased number of policies sold, which was 26.3% higher than in 2024. Pekao Financial Services https://www.pekao-fs.com.pl Pekao Financial Services (PFS) provides outsourcing services as a transfer agent for financial institutions in the field of operational and technological solutions. PFS specialises in providing services to domestic and foreign investment funds, general and occupational pension funds, as well as entities offering insurance products. The group of fourteen clients served by the Company includes companies with an established market position. PFS is the only company that handles OFE funds using the services of an external transfer agent. In addition, the Company provides accounting services to Pekao Group companies. In 2025, PFS generated a net profit of PLN 1 1 million (including the Bank's share of PLN 7 million), compared to a profit of PLN 9 million in 2024. The net result was higher due to an increase in revenues from clients from the investment sector, which is the result of a positive situation on the capital market. Pekao Bank Hipoteczny Pekao Bank Hipoteczny (pekaobh.pl) Pekao Bank Hipoteczny is a specialist bank, focused on granting mortgage loans and servicing assets, using the issue of covered bonds to finance them. As part of the Group's cooperation, portfolios of mortgage loans and bonds of local government units (LGUs) are transferred to Pekao Bank Hipoteczny, which may be used as collateral for covered bonds issued by Pekao Bank Hipoteczny. In 2025, Pekao Bank Hipoteczny continued transactions of purchase and transfer of mortgage receivables from Bank Pekao S.A. The transferred portfolio of mortgage receivables, for a total amount of PLN 1,167 million, included loans granted in PLN, which were intended to finance the housing needs of natural persons. The net value of the loan portfolio, including the portfolio of local government bonds, at the end of 2025 amounted to PLN 3,898 million. Loans to individual customers accounted for 84.4% of the portfolio, 14.3% for local government units and 1.3% for enterprises. As a result of the pooling operations of loans from Bank Pekao S.A. to Pekao Bank Hipoteczny, the loan portfolio (together with the portfolio of local government bonds) increased by 9.8% compared to 2024. In 2025, Pekao Bank Hipoteczny carried out two issues of mortgage covered bonds. As at 31 December 2025, liabilities in this respect amounted to PLN 2,747 million. The Bank also carried out one bond issue with a total nominal value of PLN 200 million. The value of liabilities under issued bonds at the end of the year amounted to PLN 444 million. In 2025, Pekao Bank Hipoteczny generated a net profit of PLN 14 million, compared to a profit of PLN 5 million in 2024. The increase in profit is due to the growth of the portfolio, but also to lower costs of legal risk of FX mortgage loans than las t year.
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36 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Pekao Investment Banking Pekao Investment Banking S.A. (pekaoib.pl) Pekao Investment Banking S.A. (Pekao IB) provides highly specialized services for large and medium -sized enterprises and financial institutions. The scope of services provided by Pekao IB includes, in particular, brokerage services: receiving and transmitting orders to purchase or sell financial instruments, offering financial instruments, as well as advising companies on capital structure, enterprise strategy or other issues related to such structure or strategy, as well as advisory and other services in the field of mergers, divisions and acquisitions of enterprises. In October 2025, Pekao IB took part in a project to create an innovative product within the Bank Pekao S.A. Group, i.e. PZU FIZ Private Debt. As part of the participation in this project, a subsidiary of Pekao IB was established: Pekao Inwestycje Dłużne sp. z o.o. ("PID"), 100% of whose shares were acquired by Pekao IB. PID holds PZU FIZ Private Debt investment certificates and intends to maintain them in the long term. In 2025, Pekao IB acted as a joint bookrunner in six transactions on the WSE, and was also an intermediary in invitations to submit offers for the sale of shares in two companies listed on the WSE. He has provided bond issue services to five entities and has closed nine advisory transactions in obtaining financing (including ESG sustainability advisory) and four M&A projects. The Company has also implemented a number of projects on the capital market and in the field of debt advisory, which are expected to be finalized in subsequent periods. In 2025, Pekao IB generated a consolidated net profit (from PID) of PLN 1 5 million, compared to a profit of PLN 3 million in 2024. The result was influenced by a higher number and value of completed transactions in the area of advisory services on the private and public capital markets compared to the previous year. Pekao Faktoring Pekao Faktoring Sp. z o.o. Pekao Faktoring offers a full range of factoring services, including non -recourse and non -recourse factoring, as well as accompanying services, such as: obtaining information on the financial condition of debtors, debt collection, accounting for settlements and ongoing monitoring of payments. The offer is complemented by settlements of mass transactions, financial advisory, consulting in the field of business financing as well as loans and advances related to factoring agreements. The Company, in cooperation with the Bank, is developing its offer for customers and new sales channels. As part of this cooperation, a factoring service is available for micro-entrepreneurs – the Bank's clients – based on a fully automated decision- making process. The Company participates in the factoring limit repayment programme supported by BGK, using guarantees for financing non- recourse and reverse factoring granted under the BGK Crisis Guarantee Fund. In order to diversify its sources of financing, Pekao Faktoring issues bonds with a value of liabilities of PLN 4,737 million as at 31 December 2025. Pekao Faktoring ranks 1st on the factoring services market, it is its leader with an 18.7% market share. In 2025, Pekao Faktoring reported a net loss of PLN 54 million, compared to a loss of PLN 129 million in 2024. Losses in both periods were affected by high levels of credit risk costs. Szybkie przelewy i płatności online | Tpay Bank Pekao S.A. owns 38.33% of shares in Krajowy Integrator Płatności S.A., the owner of the Tpay fast online payment system (formerly Transferuj.pl). The company has the status of a domestic payment institution and is supervised by the Polish Financial Supervision Authority. The activity of KIP consists in intermediating in the transfer of payments between the payer and the recipient. 2025 was another year in which the Company increased the scale of its operations in the area of online and mobi le payments. It continued to search for new areas for the development of services, acquired new customers and developed cooperation with existing ones, also as part of the strategic partnership with Bank Pekao S.A. As a result of the cooperation, the Bank' s customers receive access to modern and secure payment services, while the Company's customers can take advantage of an attractive and comprehensive offer of banking services. In 2025, KIP reported a net loss of PLN -12 million (PLN 6 million was included in the Group's result), compared to a profit of PLN 17 million in 2024. This year's loss is mainly due to the implementation of several large investment projects supporting the dynamic development of KIP and the costs resulting from the increase in the customer base.
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37 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 7.3 Awards and distinctions The activities of Bank Pekao S.A. gained wide recognition by clients, industry specialists, the market and the media, as evidenced by numerous awards and distinctions granted by Polish and foreign institutions. Measures aimed at providing customers with the highest quality products and services, innovation of the proposed solutions have been appreciated. The most important awards and distinctions received in 2025: AWARDS AND DISTINCTIONS RECEIVED BY BANK The most resilient bank in Europe according to the EBA stress test The most resilient bank in Europe to negative macroeconomic scenarios, out of the 64 surveyed. T op Employer For creating an inspiring, friendly work environment and an attractive offer for candidates. Friendly Workplace 2025 For the culture of cooperation, courage and real impact of people on change, for creating a modern, responsible and friendly organization in which everyone has space to develop and co-create changes. Wellbeing Leader Certificate 2025 For implementing a comprehensive measure to support the health, balance and development of employees. Bank Pekao's Investor Relations among the best WIG30 companies One of the best communicators of the WIG30 index according to institutional investors and analysts Złoty Laur Konsumenta 2025 Award in the highest quality category. The award confirms our commitment to providing the highest quality financial products and building trust among Polish consumers by maintaining customer service standards. Performance Marketing Diamonds EU 2025 Award in the category "The Most Effective Sales Campaign" for the most effective online sales campaign of the Konto Przekorzystne account in 2024. Partner Spółka Giełdowa według Izby Domów Maklerskich Award in the category of Partner Listed Company, 25th edition of the Capital Market Conference. AWARDS AND DISTINCTIONS FOR RET AIL AND PRIVA TE BANKING The Best Bank in Poland in the Institution of the Year ranking The title of the Best Bank in Poland and distinctions in 8 categories. 1st place: Best Mobile App, Best Online Banking, Best Private Banking, Best Bank for Business, and Security. 2nd place: Best Branch Account Opening Process and Best Facility Service. Bronze medal for Best Personal Banking. Golden Banker 2025 for Mortgage Loan 1st place for a mortgage loan, 2nd place in the Personal Account and Child Account categories, third place in the Premium Account category and an award for communication in social media. The Best Private Bank in Poland 2025 For effectively combining financial knowledge with a deep understanding of the needs and aspirations of customers and offering them the highest level of service and individual solutions. Projekt ARCHIV3 Best Digital Innovator of the Year in Central and Eastern Europe oraz Best Private Bank Use of T echnology The project was awarded for the innovative use of technologies such as blockchain, NFT s and technical photography in the preservation of works of art, for its unique contribution to digitization and safeguarding cultural heritage for future generations. The project was considered a pioneering solution that strengthens the role of banks in culture and sets new standards in the area of wealth management. Najlepsza Bankowość Prywatna 1st place in the Best Private Banking category in the 10th edition of the Institution of the Y ear survey. Qorus Reinvention Awards Europe 2nd place in the "Distribution" category for the implementation of Omnibank CRM, the first analytical CRM system operating in the public cloud among Polish banks.
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38 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Distinction for the "Funds with Bison" platform awarded by "Rzeczpospolita Cyfrowa" Distinction for special contribution to the development of Polish digital transformation in 2024. For providing the first self-prepared platform in Poland dedicated to EU funds with a search engine for grants. AWARDS AND DISTINCTIONS FOR CORPORA TE BANKING The Best Investment Bank in Poland for 2025 The Best Sub-Custodian Bank The Best Bank for Sustainable Finance in Poland for 2025 Best Trade Finance Provider in Poland - for knowledge of local economic conditions, adaptation to customer needs and innovation of products and services. Best Trade Finance Survey 1st place in the area of trade finance services and in the technology subcategory. Best Foreign Exchange Bank 2025 For the highest quality of service, innovative solutions and experience in the implementation of the largest transactions. Biuro Maklerskie Pekao among the most active participants of the capital market Award in the category: the highest share of a local market maker in turnover on the Main Market in 2024, awarded as part of the Summary of the Stock Exchange Y ear 2024, organized by the Warsaw Stock Exchange. Biuro Maklerskie Pekao the best in the ranking of „Parkietu” The best and most effective brokerage house in the ranking of Investment Analysis T eams. First and second place for BM Pekao analysts in the general classification. A victory for employees in four industries: Banks & Finance, IT , Gaming, and Mining & Mining. AWARDS AND DISTINCTIONS FOR CORPORA TE BANKING The Best Digital Solutions for SMEs in the CEE region 2025 1st place in the SME Banking Club ranking in the category of The Best Online Banking for SMEs for PekaoBiznes24 and The Best Digital SME Lending for an innovative, fully remote credit process that allows companies that have had a bank account for at least six months to obtain funds even in a dozen or so minutes, without the need to visit a branch. AWARDS AND DISTINCTIONS RECEIVED BY SUBSIDIARIES Byki i niedźwiedzie dla Pekao TFI Statuette in the TFI of the year category awarded by Gazeta Giełdy i Inwestorów Parkiet. Golden Portfolios for two Pekao TFI funds for their performance in 2024.
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39 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 7.4 Investing in human capital People at the Center of HR Activities The directions of the Bank's HR policy result from the mission and strategy of the organization and constitute the foundation of the activities undertaken in the area of HR. We focus on strengthening the potential of employees by developing an organizational culture based on clearly defined values, improving leadership competencies and systematically improving skills that are key to the effective functioning of the organization. Aspirational organizational culture In the face of the challenges facing the banking sector and in line with the assumptions of the Bank's strategy for 2025-2027, we are building an organizational culture focused on development, dynamics of operations and aspirations to be an industry leader in key areas. Our goal is to create an organization that is ahead of the competition, thanks to a modern mindset, r apid decision-making, and the courage to implement change. The foundation of our organizational culture is based on clearly defined values, redefined and communicated in conjunction with our strategy. SIMPLY, TOGETHER, COURAGEOUSLY, RESPONSIBLY, WITH DETERMINATION, OPENLY and HONESTLY - it is around these values that we build the expected attitudes, behaviours and work standards. In the second half of 2025, we focused on activities supporting the internalization of the new catalogue of values, in partic ular through education and involving employees in various initiatives. Successive implementation of values in key organizational processes allows us to build a culture that is truly based on values and supports the implementation of our strategy. Training and professional development For years, we have been investing in the education and development of our employees, offering a wide range of opportunities to improve our competences, which support both the individual professional development of our employees and the development of key competences. We provide access to various forms of education, tailored to the needs of employees and the specifics of positions. Educational activities focus on realization of in -class training programs, on -the-job learning, online training, coaching and Virtual Class system allowing for distance learning in form of Webinars. In 2025, the main training priorities of the Bank were as follows: - expanding the expertise of employees, with particular emphasis on the development of competences of the future, including in the area of artificial intelligence, AI and M365 adoption (including M365 Copilot), - implementation of the LinkedIn Learning platform and launch of training courses for the Bank's employees, - implementation of cybersecurity trainings, - development of leadership competencies - education for managers, - realization of mandatory training programs required under internal and external regulations. In 2025, we completed over 279 thousand of training hours (class room and virtual sessions), in which attended by over 12,5 thousand of employees. O nline courses and trainings were completed at level over 389 thousand hours, which confirms the effectiveness of development activities and the Bank's commitment to improving the quality of services and ensuring customer safety and well-being. Expanding the specialist knowledge of the Bank's employees, including strong emphasis on the development of future competences In 2025, the following training projects were implemented: - M365 – we promoted the use of modern tools supporting everyday work and the use of AI, in particular as part of programs to transform the way we work, - Copilot – we inspired employees to use artificial intelligence in practice in their daily work through training activities and encouraging them to share use cases, - Innovation Laboratory, an initiative aimed at building a culture of innovation and supporting digital transformation at the Bank, - Agility Forge – a program that enables employees to acquire specialist knowledge and skills in the field of agile methodologies (Agile path), process optimization (Lean path) and process management (process development path), - ESG Academy – a training program carried out in cooperation with an external partner, including a basic scope for all employees and an extended scope for employees involved in ESG processes,
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40 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 - Banking Sales School – a program implemented in cooperation with external partners, focused on the development of sales competences, including in the area of up -selling, acquiring new customers, conducting meetings and dealing with difficult situations, - Individual training – over 950 people took advantage of specialist training provided by external educational companies. Leadership development - education for managers In 2025, we continued and developed training and development programs for managerial staff. Key initiatives included: - Leadership Academy and Retail Manager Academy – we piloted a new edition of the program for all managers in the Bank, - Inspiring leadership – we conducted a pilot program for new managers in the Bank, the aim of which was to equalize the level of knowledge and familiarize themselves with the values and standards applicable in the Bank, - Leadership Network – a series of online meetings, open to all managers at the Bank, with the participation of trainers and academic lecturers invited from the business world, enabling them to share their experience and inspire the development of leadership competences. Implementation of the LinkedIn Learning platform The Bank's employees gained access to the LinkedIn Learning platform. The platform offers training with more than 20 000 online courses in areas such as digital competences, management, leadership, communication, and cybersecurity. The platform has become a key tool to support a culture of continuous learning, with implementation including: - creating a network of 37 LinkedIn Learning editors who promote valuable content, recommend development paths and support employees in using the platform, - launch of the "Active with LinkedIn Learning" incentive program, which, through a system of badges and rankings, promotes educational activity and distinguishes the most engaged participants, - implementation of communication campaigns and educational webinars that increase awareness of available development opportunities and encourage the use of the platform. Cybersecurity training We continue training our employees in the scope of Cybersecurity, the aim of which is to provide knowledge about conscious and safe use of the Internet, both at work and in private life. AI & M365 Programs In 2025, we began the phase of wider implementation of M365 tools, including Copilot. Employees of selected units, in particular those who work with a large number of documents, have been provided with an adoption and training program. As part of the "Transforming the Way of Working" initiative, we have conducted training in the field of M365 tools and dedicated workshops on Copilot. Their aim was to improve the digital competences of employees and to disseminate the practical use of AI tools in everyday work. These activities contributed to organizing the way of working with tools and created the basis for increasing the efficiency of teams. These activities are part of the process of building a modern and more automated work environment. The trainings were carried out in cooperation with external partners. We also continued the M365 and AI Ambassador programs, which are an important part of building a digital culture in the organization. Thanks to the involvement of the Ambassadors, we strengthened the adoption process of new tools, creating a space for sharing experiences, good practices and mutual support during regular community meetings. ESG Programs The training program, which started in 2024, continued into 2025. The project was addressed to all groups of employees, from the management through representatives of the risk and business area. All the Bank's employees took part in the ESG – Sustainable Development online training. Managers involved in ESG processes could take part in a training on "Corporate Governance (G)" dedicated to them. ESG Employees and Ambassadors also participated in trainings covering the following issues: - social issues (S), - ESG and climate risk in the bank: new challenges and management strategies (E), - elements of decarbonisation of the credit portfolio (E).
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41 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 ESG Ambassador Program The ESG Ambassador Program is addressed to employees interested in deepening their knowledge in the ESG area and actively supporting the Bank's activities in the field of sustainable development. Employees of the Headquarters and the Bank's Network participate in the programme. The main objective is to increase the level of employee enga gement in the implementation of the sustainable development strategy and to build the ESG community and culture at the Bank. Ambassadors also take part in training as part of the ESG Academy program. As part of the program, the Ambassadors use a dedicated channel on the MS Teams platform, which is a space for the exchange of knowledge and experience as well as mutual inspiration. Participants also receive substantive support, including press reviews, news, market trends, reports, key legislative c hanges and good practices in the field of ESG. An additional element of the Ambassadors' support are meetings in the "Coffee with ESG" series conducted by experts from the Bank. We have also prepared a special offer for this group of employees, which was used by 25 people. The ambassadors took part in the online training "How to work with clients in sustainable ESG investments?", the aim of which was to prepare them for the EFPA ESG certification exam. The Ambassadors also had the opportunity to participate in the Young Energy Europe program, under which a team of 4 people developed and presented during the final of the program a project on CO ₂ reduction – "Intelligent Fleet Management at the Bank. Value Creation and Emission Reduction". In addition, the websites of the ESG Academy and the ESG Ambassador Program are available on the bank's intranet, which support and disseminate ESG activities and initiatives. Realization of mandatory training programs required under internal and external regulations In 2025, we completed mandatory training, with particular emphasis on regulatory training in the areas of Bancassurance, MIFID 2 and the Mortgage Directive. Trainings related to regulatory areas accounted for 34% of all trainings provided, which confirms the Bank's consistent approach to improving employees' qualifications in accordance with the expectations of the regulator and applicable law. We have also organized a series of trainings in the field of Occupational Health and Safety (OHS), first aid and recognizing the authenticity of cash signs, as well as other training programs resulting from external regulations. Development programs and initiatives In 2025, we carried out business trainings, development and integration workshops. We conducted employee potential surveys: Gallup tests, Insight Discovery survey, 360 -degree Feedback survey. The development activities were complemented by coaching processes carried out for both employees and teams. For the first time, we launched the Talent DNA of the Team development program, based on the CliftonStrenghts34 study. The program included 20 teams in which 302 tests were conducted. The program consisted of 6 team workshops and an individual development path for managers. We continued the implementation of the second edition of the Mission Development programme, in which 39 people participated. The project path has been completed, which resulted in the presentation of 6 developed solutions to the Leadership Council. Some of the projects, by the decision of the Mentor and the Sponsor, have been qualifie d for implementation in whole or in a selected scope or for further development work. As part of the program, we carried out individual coaching based on the Insights Discovery tools, workshops using improvisation techniques, workshops on giving both individual and team feedback, and workshops based on the CliftonStrengths tool. The participants also took part in the Development Map development workshops, carried out with the use of group coaching. Currently, individual coaching sessions with participants are being conducted. We launched the first edition of the " Manager at the Start " program, a development initiative supporting newly appointed managers in successfully entering the leadership role. The program combines the transfer of key operational knowledge with the development of managerial competences. The programme is based on t wo pillars. The first includes a series of short recorded webinars on processes, regulations, recruitment, and HR issues necessary to work in a managerial position. These materials make it easier to efficiently navigate formal and operational aspects. The second pillar is a series of workshops developing practical leadership competences. The workshop part opens with a joint online workshop, after which participants are directed to one of two paths. - “From Expert to Leader” – intended for people taking up the position of manager for the first time. - Leader in our organization – addressed to experienced managers who are just starting their work in the bank. The program supports conscious building of the role of a leader and enables quick finding oneself in organizational realities . As part of the project, an intranet website with training materials (webinars) was prepared and a series of workshops was carried out.
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42 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 In the Sugar-Free Women's Programme, we carried out development and educational activities resulting from the strategic objectives of the programme. The thematic offer of the programme was systematically supplemented and updated and included the development of professional, personal and parental competences carried out through trainings, workshops and webinars. The program also included development initiatives such as Conscious Leader or Excelentni, as well as activities supporting education and promotion o f new technologies through webinars, technical trainings and programs such as "Closer to Technology", "emPower Women". An important element of the programme were activities aimed at building pro-health awareness among employees. We carried out the Pink October campaign, in which 4 000 women participated, and the Blue November campaign, in which 2 200 participants took part. We also continued the 2nd edition of the Development Program for Women Local Leaders, focusing on the development of leadership and project competences. At the end of the year, we launched the first edition of the mentoring program, under which 32 mentoring pairs started working together. In total, more than 7 000 women took part in the activities carried out under the "No Sugar" Programme. Managerial Shots is an online development program addressed to managerial staff. The program focuses on the development of soft skills in the field of management and leadership. It has been adapted to the needs of managers who cannot participate in long-term training. Each workshop lasts 45 minutes and provides specific, practical knowledge in a nutshell. In 2025, another 3 editions of the program were held, during which we carried out 36 workshops, attended by about 3,5 thousand managers. In the second half of the year, all workshops promoted and developed behaviours supporting the implementation of the Bank's values. As part of the programme m.in the following topics were implemented: - A leader close to people, - Effective management of the work of virtual teams, - Building authority based on trust and respect, - How to support an employee when their tasks are not carried out. Snacks for Employees are short workshops for employees carried out in an online formula. In 2025, we conducted 20 workshops. All workshops promoted and developed behaviours related to the bank's values. The topics covered included: - Teamwork, - Building mental resilience, - Competences of the future. Apprenticeship programs We are consistently developing activities aimed at attracting graduates of the best universities in Poland and abroad, offeri ng them the opportunity to build their professional path within the Bank's structures – both in the Headquarters and the Bank's Network. As part of the next edition of the Banking Champions internship program, over 70 students and graduates from all over Poland joined the organization. The participants started working in selected units of the Bank, gaining practical knowledge about th e functioning of modern banking. The programme provides practical experience in key areas of the Bank's operations, such as finance, risk, analytics, corporate banking, marketing, communication, HR and IT. The six -month internship formula enables the development of professional competences and real involvement in projects carried out by business teams. Compensation policy The compensation strategy was developed in line with the business standards and values underlying the Bank’s mission and reflected in the internal regulations as well as it constitutes the basis for enhancing and protecting the Bank's reputation and creating long term value for all the stakeholders. The key regulation in this area is the Remuneration Policy of Bank Polska Kasa Opieki Spółka Akcyjna, the last update of which was approved by the Supervisory Board of the Bank by resolution of December 16, 2022. This policy reflects the mission and values in the Bank's approach to remuneration systems, including: - defines the compensation pillars, management of its structure, corporate and organizational processes, - confirms the compliance requirements of the compensation systems with the generally binding law, - defines the principles of market practice monitoring, and the approach to the matter of compensation systems which guarantees the sustainability of the Bank's functioning.
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43 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 The remuneration structure ensures a direct link between remuneration and performance by guaranteeing financial stability and variable remuneration levels appropriate to the Bank's financial capacity, setting performance-based remuneration levels and developing incentive systems foreseeable the minimum levels of the Bank's performance below which the bonus is not paid. Variable remuneration covers all remuneration components, the granting of which depends on the results, and its payment is directly dependent on individual achievements and the results achieved by the Bank and adjusted to the risk. Sustainable results contributing to the creation of long -term value for stakeholders relate to the actual results achieved and how they are achieved, with a view to measuring results consistent with shareholders' interests and profitability principles based on safe risk levels, sustainable risk management practices and a multi-dimensional performance analysis and quality of operation. In order to ensure the competitiveness of the remuneration structures, as well as their transparency and an effective and fai r remuneration system, the Bank monitors market trends in terms of forms of remuneration and the level of remuneration offered on the market. Decisions on the remuneration system at the Bank are made taking into account the available data on market trends in the area of fixed remuneration as well as incentive systems. Such data is obtained from consulting companies offering financial sector analyzes. In 2025, the Bank conducted analyses of wage coherence between women and men in identical positions, in order to compensate for the pay gap existing at the Bank. The Bank also has a Remuneration Policy for Members of Supervisory Board of the Bank and the Management Board of Bank Polska Kasa Opieki Spółka Akcyjna, which sets out the framework principles and rules for determining, monitoring and controlling the remuneration rules and practices applied by the Bank in relation to the Members of its Supervisory Board and the Management Board of the Bank. The Remuneration Policy for Members of the Supervisory Board of the Bank and the Management Board of Bank Polska Kasa Opieki Spółka Akcyjna supports proper and effective risk management and does not encourage taking excessive risks exceeding the acceptable general risk level approved by the Bank's Supervisory Board; implementation of the Bank's management strategy and risk management strategy; mechanisms for managing conflicts of interest occurring in the Bank's operations and limiting them; as well as ensu ring that remuneration and any related terms and conditions of employment that affect remuneration, including those relating to conditions for granting and payment of remuneration, are gender neutral, i.e . they are not differentiated on the basis of gender. As part of the remuneration system, employees are offered non -wage benefits ensuring fair treatment and consistency of the remuneration system. Each year, a report on the functioning of the Remuneration Policy at the Bank is prepared, which is then presented at the General Meeting of Shareholders in order to assess whether the functioning of the Remuneration Policy in force at the Bank, supports the development and security of the Bank's operations. Information regarding remuneration value of each Member of the Management Board is presented in the point 1 1, the section of the Management Board and the Supervisory Board Remuneration. The Subsidiaries of the Bank's Capital Group have remuneration policies adapted to the size and specificity of their activiti es and the remuneration principles. Incentive systems In the Bank, there are three main incentive systems: an Executive Variable Compensation System, a System based on Management by Objectives (MBO), and a system based on provisions of Corporate Collective Labour Agreement, which is based on quarterly bonuses, bonus for retail sales forces and incentive reward. The top management is covered by a variable remuneration system dedicated to people who have a significant impact on the Bank's risk profile. The aim of the System is to support the execution of the Bank’s operational strategy and to mitigate excessive risk conflicts of interest. Participant covered by the system may receive a variable compensation based on a bonus pool approach. The System provides a comprehensive performance measurement at individual level, level of his/her organizational unit and results of the entire Bank, as well as verification of the participant’s compliant behaviour with respect to law provisions, and standards adopted by the Bank and risk assessment. For reinforcement of care for long-term welfare of the Bank, under the system at le ast 50% of variable remuneration is provided in phantom shares based on the value of the Bank shares and at least 40% of the bonus is deferrable and paid after the end of the evaluation period it is payable for. Annual goals set for the Bank's top management as part of the incentive system ensure consistency with the strategy of introducing sustainable development risks into the business in the investment decision -making process, and are consistent with the goals of the Bank's business strategy and risk strategy, including environmental, social and governance risks. (ESG risk), are consistent with the Bank's corporate culture and values, risk culture, including in relation to the long-term interests of the institution, as well as with the measures used to prevent conflicts of interest, and should not encourage excessive risk - taking.
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44 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 The system of variable remuneration components is developed by People, Organization and CX Division, with the involvement and participation of other organizational units of the Bank, including Legal Department, Compliance Department, Risk Management Division, Financial Division, and in consultation with Internal Audit Department. This is to ensure compliance with the regulations, the Bank's articles of association and the standards of ethical conduct or other standards of conduct applicable to the Bank, in such a way that legal, compliance and reputational risks mostly related to customer relations are properly controlled and managed. Variable remuneration systems implemented in the Bank's subsidiaries have schemes similar to the Bank for the division of remuneration into cash and financial instruments, taking into account general provisions and guidelines of market regulators regarding the sectors in which the subsidiaries operate. MBO system covers employees employed under the management contract and refers in particular to the sales positions and to the managerial positions, which play a significant role in achieving the Bank’s commercial goals. Under the MBO system, employees receive individual goals for realisation, which result from the financial plan adopted for a given year and the Bank's key goals. The amount of the annual bonus depends on the level of implementation of these goals, as well as the result achieved by the Bank. Sales functions employees, in each quarter, can receive an advance payment towards the annual bonus in achieving of the set goals. In 2025, the Bank negotiated with trade unions to include in the Collective Bargaining Agreement employees employed under managerial contracts (employment contracts) covered by the "Remuneration Rules at Bank Polska Kasa Opieki Spółka Akcyjna Employees Employed under a Management Contract" (MBO system). The negotiations were conducted in good faith and respected the interests of the parties from January to June 2025. Due to the lack of agreement, the Bank decided to introduce three separate remuneration reg ulations for individual groups of employees covered by the MBO system so far, the assumptions of which are better suited to the specificity of the roles and functions performed by these employees. The remuneration regulations are in force from 2026. The system based on the provisions of the Corporate Collective Labour Agreement (CCLA) applies to all employees who are covered by it. According to the provisions of CCLA the basis of the system is a quarterly bonus which is discretionary and depends on evaluation of employee’s performance, the level of commitment and the results achieved by the Bank in a given year, as well as the incentive bonus, which is granted for outstanding achievements in professional work. As in previous years, in 2025, guidelines for variable remuneration, i.e. the bonus for sales network employees covered by the CCLA. According to the guidelines, the employee bonus was awarded based on the employee's individual sales results, taking into account the qualitative component. Determin ing the final amount of variable remuneration of employees covered by the Guidelines depended on the results of assessing the compliance of the employee with achieving goals or tasks. Selections and Suitability Assessment Policy The Bank has a Policy of selecting candidates for the position of a member of the Management Board and the key function as well as assessing the suitability of proposed and appointed members of the Management Board, Supervisory Board and persons holding ke y functions at Bank Polska Kasa Opieki Spółka Akcyjna (Selection and suitability assessment policy) approved by the Bank's Supervisory Board on 30 December 2020. The aim of the Policy is to guarantee an optimal and uniform process of selecting candidates for the position of a member of the Management Board and the Key Function at the Bank, so as to ensure that tasks related to the implementation of the Bank's plans and business strategy are performed by persons who have the necessary knowledge, experience and skills, and who enjoy get a good reputation. The subsidiaries have implemented the Suitability Assessment Policies in accordance with applicable law. Gender equality and Diversity policy The Bank has a Gender equality and diversity policy with regard to members of the Supervisory Board, members of the Management Board and persons holding Key Functions at Bank Polska Kasa Opieki Spółka Akcyjna (Gender equality and diversity policy) introduced on December 18, 2020 by the Order of the President of the Management Board, which defines the strategy in the scope of managing diversity of the Bank's employees, including diversity with regard to the appointment of members of the Supervisory Board, members of the Management Board and persons performing Key Functions at the Bank. The gender equality and diversity policy define guidelines aimed at ensuring that the Bank's employees can manage their careers, achieve success and evaluate their work on the basis of individual achievements, regardless of gender. The purpose of the Bank's diversity strategy referred to in the Gender Equality and Diversity Policy is to ensure high -quality performance of tasks by the Bank's employees, including the selection of competent persons to perform functions in the Supervisory Board, Management Board and Key Functions at the Bank, first of all applying objective substantive criteria and taking into account the benefits of diversity. The gender equality and diversity policy, in accordance with the legislative process in force at the Bank, was adopted by the Bank's Management Board and approved by the Supervisory Board and in relation to Members of the Supervisory Board, by the General Meeting of Shareholders. Gender equality enables the Bank's employees to manage their career, achieve success and evaluate their work on the basis of individual achievements, regardless of gender.
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45 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Relations with Trade Union Organizations The Bank's cooperation with trade union organisations in the area of negotiations and consultations was conducted in accordance with the procedures and principles set out in labour law, respecting the interests of the parties and the principl es of social dialogue. In 2025, 35 meetings were held (including 20 two-day meetings). The meetings focused primarily on negotiations and arrangements resulting from internal labour law and generally applicable regulations, changes in internal labour law, arrangements for the use of the company social benefits fund and other topics related to collective employee rights. The following agreements were signed in the scope of negotiations referred to in internal labour law and generally applicable regulations: 1) Agreement of 19 March 2025 on the adoption of the expenditure plan of the Company Social Benefits Fund for 2025 , 2) Agreement of 3 April 2025 on measures concerning the terms and conditions of employment of employees taken over by Pekao Direct Sp. z o.o., 3) Agreement of 16 April 2025 on the rules for the distribution of the incentive fund referred to in § 19 of the Company Collective Labour Agreement for 2024, 4) Agreement of 22 May 2025 on the amount of funds for the reclassification of employees of Bank Polska Kasa Opieki SA covered by the Collective Bargaining Agreement in 2025. In 2025, the Bank conducted negotiations with trade unions regarding the inclusion in the Company Collective Labour Agreement of employees hired on the basis of management contracts (employment contracts) covered by the “Remuneration Rules at Bank Polska Kasa Opieki Spółka Akcyjna for Employees Employed on the Basis of a Management Contract” and at the same time not covered by the ‘Rules of the Variable Remuneration System for Management Staff - Participants who are not Members of the Management Board / Sup ervisory Board’. The negotiations were conducted in good faith, respecting the interests of the parties, from January to June 2025. Due to the lack of agreement, the Bank, after consultations with trade unions pursuant to Article 30(6)(1) of the Act of 23 May 1991 on trade unions, decided to introduce remuneration regulations for individual groups of employees covered by the bonus system based on the Management by Objectives (MbO) system, settled on a quarterly basis, annually in advance and settled quarter ly and annually. In order to implement changes to the remuneration and bonus rules for this group of employees, the Bank first presented all employees with proposals to change the remuneration conditions by mutual agreement. The agreements were signed by 9 5% of employees. Due to the fact that 5% of employees did not agree to the changes by mutual agreement, the Bank applied the collective redundancy procedure in accordance with the procedure and rules set out in the Act of 13 March 2003 on special rules for terminating employment relationships with employees for reasons not related to the employees. The agreement on collective redundancy was concluded with three trade unions. Additionally, with a view to continuously improving employee motivation, particularly among employees responsible for customer service, in 2025 the Bank, together with four trade unions, parties to the Company Collective Bargaining Agreement, agreed and signed on 19 November 2025, in the form of Additional Protocol No. 5 to the Collective Bargaining Agreement, a “Quantitative and qualitative bonus system for retail sales employees and Contact Centre sales employees”, constituting Appendix 4D to the Collecti ve Bargaining Agreement. The Additional Protocol was registered by the Regional Labour Inspectorate in Warsaw. The bonus system for retail sales staff addresses business needs, introduces transparent criteria for acquiring bonuses, and supports employee motivation and commitment. In 2025, there were four collective disputes at the Bank, initiated in 2016, 2019, 2021 and 2024 by one of the trade unions. As part of the collective dispute initiated in 2016, a protocol of disagreement was signed on 13 April 2022, ending the mediatio n stage. Trade unions are able to post their newsletters and information on important employee matters, including dialogue with the employer, on the Bank's intranet pages. In its relations with trade unions, the Bank has been guided by the principle of good faith in developing the best solutions in the field of collective labour law for both employees and the Bank. Workforce in number At the end of December 2025, employment in the Group amounted to 14,839 full-time positions (in the Bank and the companies consolidated under full consolidation method) compared to 15,101 full-time positions at the end of 2024. At the end of December 2025, the Bank's employment amounted to 13 ,707 full-time positions compared to 12 ,602 full-time positions at the end of 2024. The average age of the employees was 44,9 years, 76.7% of the employees are university graduates (78.6% in 2024), women represent 65.8% of the total workforce.
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46 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 7.5 Sponsorship and charity policy Our sponsorship and charity activities are aimed at strengthening the Bank's image as an open, modern institution close to customers and local communities. We support nationwide projects by sponsoring strategic events important for Polish culture, as well as initiatives addressed to local communities. These activities strengthen the Bank's reputation as a leader of the Polish financial sector, with a well-established tradition and experience. We do not donate to or sponsor political parties. We also do not fund events or initiatives that could be considered politica lly active or in support of any political party. We consistently work to improve the quality of life of the society and build long -term relationships based on mutual understanding of needs. Our social activity focuses on long -term initiatives, carried out in cooperation with selected organizations and institutions that carry out projects in the following areas: - responsible economic development, - promotion of the national brand and Polish values, - support for culture, education and sport, - help children in need of support, - environmental protection, with particular emphasis on the protection of bison. Bank Pekao S.A. Foundation Our charitable activities are carried out through the Bank Pekao S.A. Foundation, established in 1997 and under our substantive supervision. The scope of the Foundation's activities includes a wide range of social and charitable activities. In 2025, the Foundation awarded 11 targeted donations. The supported projects were in line with the statutory objectives of the Foundation and concerned primarily educational activities, with particular emphasis on financial, economic and historical education. The beneficiaries of the Foundation were also organizations conducting charitable activities, projects in the field of health protection and promotion, as well as initiatives supporting the development of physical culture and sport. We have been involved in numerous projects implemented throughout the country, which enabled the continuation of long - term initiatives and provided significant support for local communities. An important area of the Foundation's activity is also the promotion and organization of employee volunteering. Employee volunteering In 2025, we organized the 11 th edition of the " Jesteśmy blisko" grant competition. During the ten editions of the competition, we have completed nearly 600 projects for the benefit of local communities throughout Poland. As part of the eleventh edition, volunteer leaders and their teams carried out 50 projects in 41 towns. Each of the projects received a grant of PLN 10,000 gross, awarded by the Bank Pekao S.A. Foundation. The beneficiaries of volunteering activities were, m.in, children and adolescents, wards of care and educational institutions , patients of medical facilities, participants of workshops and thematic classes, members of sports clubs and music centers, as well as animals staying in shelters. Our management is also actively involved in volunteering initiatives. Information on key projects is presented in summaries and reports available on the Bank's website. For many years, our employees have also participated in voluntary blood donation campaigns, first aid workshops and educational initiatives related to environmental protection, including ecological workshops conducted in the municipal bank apiary. Protecting the environment and biodiversity For years, we have been involved in protecting Polish bison and supporting efforts to preserve the world's largest free -living herd, which inhabits the Białowieża Forest. We support scientific and educational projects carried out, among others, by Białowieski Park Narodowy, the Fundacja Rozwoju Warszawskiego Ogrodu Zoologicznego “Panda”, the Agencja Rozwoju i Promocji Ziemi Pszczyńskiej, and the Stowarzyszenie Miłośników Żubrów.
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47 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Sport, economy and education We continued our cooperation with the Polski Związek Koszykówki and the Polska Liga Koszykówki S.A., supporting the Polish National Basketball Team as well as youth competitions. The Bank’s logo remained present on the national team players’ game jerseys. As one of the leaders of the financial sector in Poland, we were present at key economic and economic initiatives in Poland and abroad, including m.in the Impact'25 conference, the European Economic Congress and the Corporate and Investment Banking Congres s. We co -created the 16 th EFPA Congress and acted as a partner of numerous industry, economic and security conferences. As part of our cooperation with universities, we supported the celebration of the 100 th anniversary of the Uniwersytet Ekonomiczny w Krakowie, the Juwenalia Studenckie Szczecin 2025, and initiatives carried out by the Samorząd Studentów Uniwersytetu Rzeszowskiego. Culture and national heritage In 2025, we continued our efforts to support Polish cultural heritage and promote art. We cooperated, m.in, with the Zamek Królewski w Warszawie, sponsored the Unikalny Festiwal Offowy and the Bittersweet Festival, and promoted the Virtual Art Gallery of Bank Pekao. During the Noc Muzeów 2025, we presented works from the Bank’s collection at the Zamek Królewski w Warszawie, the Muzeum Narodowe w Poznaniu, and the Muzeum Narodowe w Krakowie. We also organized the outdoor exhibition “Legendy polskie” featuring illustrations by Józef Wilkoń at the Galeria Plenerowa Łazienek Królewskich, prepared on the occasion of the artist’s 95th birthday. Social support and health We supported the Stowarzyszenie SOS Wioski Dziecięce w Polsce and joined a campaign dedicated to neurodiversity. As part of the project, therapeutic rooms were created and equipped in the new Centrum Specjalistyczne SOS w Karlinie. We also sponsored the co nference “System Ochrony Zdrowia w czasie wojny”, implemented as part of activities promoting health education.
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48 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 7.6 Major sources of risk and threats Effective risk management is a prerequisite for maintaining a high level of security of the funds entrusted to the Group, and for achieving a sustainable and balanced profit growth within the Group’s risk appetite. Key risks material for the Group include: - credit risk – the risk deriving from an unexpected change of the counterparty creditworthiness that might generate a change in the value of the counterparty’s credit exposure, - market risk – the risk of incurring losses on balance and off-balance sheet items due to changes in market prices; market risk includes interest rate risk and credit spread risk in the banking book, to which the financial result or economic value of the Bank’s equity is exposed due to interest rate changes or credit spread changes, - operational risk – the risk of loss resulting from inadequate or unreliable internal processes, human resources and systems or from external events, - liquidity risk – the risk that the Bank may be unable to meet its payment obligations (by cash or delivery), whether expected or unexpected, without jeopardizing its day-to-day operations or its financial condition, - excessive leverage risk – the risk of excessive increase in credit exposures in relation to the Bank’s own funds (Tier 1), - compliance risk – the risk of legal or regulatory sanctions, financial losses or reputation damage to which the Bank is exposed as a result of non-compliance with the law, regulators’ recommendations or standards of conduct adopted by the Bank and applicable to its activities, - reputation risk – current or prospective risk to earnings and capital arising from adverse perception of the image of the financial institution on the part of customers, counterparties, shareholders, investors, regulators, - business risk – the risk of adverse, unexpected changes in business volume or margins that are not caused by credit, market or operational risks. An element of business risk is the risk of changes in macroeconomic conditions defined as the risk of changes in the macroeconomic environment that may affect future capital requirements or the level of available financial resources, and strategic risk, i.e. the risk of incurring losses due to the lack or faulty implementation of the adopted strategy or lack of re sponsiveness to changes in the business environment, e.g. a change of the trend in the economic cycle, - model risk – the risk of loss resulting from decisions that are essentially based on the output of models, due to errors in the design, development, parameter estimation, implementation, use or monitoring of such models, - bancassurance risk – the risk resulting from the activity of offering insurance products, - ESG risk (Environmental, Social, Governance) – the risk of any negative financial impact on the Bank arising from current or prospective impacts of environmental, social or governance factors on the Bank’s counterparties or assets invested by the Bank, - ICT risk (Information and Communication Technology Risk) – the risk of loss related to reasonably identifiable circumstances in relation to the use of network and information systems which, if materialized, could jeopardize the security of the network and information systems, any technology -dependent tools or processes, operations and processes, or the provision of services, by producing adverse effects in the digital or physical environment. For all risks deemed material, the Bank has in place a risk management process that includes the following stages: identification of threats as part of operational risk management, risk measurement or estimation and assessment, determination of economic capital, control, including risk mitigation, monitoring and reporting. The Group has adopted a comprehensive and consolidated approach to risk management. It extends to all units of the Bank and subsidiaries. The risks are monitored and managed taking into account business profitability and the capital required to cover the losses resulting from these risks. The risk management system, ensuing directly from the adopted risk management strategy, is based on the concept of shared responsibility and organised on three independent levels: - First level, which covers risk management in the Bank’s operational activities, - Second level, which comprises risk management by employees employed in positions or organizational units related to risk management and independent activities of the Compliance Department, - Third level, which is the activity of the Internal Audit Department, regularly and independently assessing the risk management system and internal control system.
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49 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 The Management Board of the Bank is responsible for achieving the strategic risk management goals. The Management Board designs, implements and ensures the operation of the risk management system which covers all material risks. The Management Board develops the risk management strategy and defines the Group’s risk appetite. The Supervisory Board of the Bank, supported by the Risk Committee and Audit Committee, oversees whether the Group’s policies of taking various risks is compliant with the overall strategy and financial plan. The Supervisory Board of the Bank approves the risk management strategy and risk appetite of the Group and evaluates the adequacy and efficiency of the risk management system. The Credit Committee and Credit Risk Committee (supported by the Retail Client Risk Committee and Corporate Client Risk Committee) play an important role in the credit risk management, the Asset, Liability and Risk Committee and Liquidity and Market Risk Committee in market and liquidity risk management, the Op erational Risk Committee and Bank Security Committee in the management of the operational risk and the Model Risk Committee in model risk management. The rules of managing each of the risks are defined in the guidelines set up by the credit risk strategy and policy, financial risk and investment activity strategy and investment and market risk policy and the operational risk management strategy and policy approved annually by the Management Board (polici es) and by the Supervisory Board of the Bank (strategies) as well as in internal procedures. Detailed reports on credit, liquidity, market, operational and model risks are presented to the Management Board and the Supervisory Board of the Bank on a regular basis. The rules and instruments of managing each of the risks and information on the risk exposure are included in Note 45 to the Consolidated Financial Statements of Bank Pekao S.A. for the period ended on 31 December, 2025 and in the document “Information in r espect to capital adequacy of Bank Pekao S.A Group as at 31 December 2025” published on the Bank’s website. Operational risk The objective of proper operational risk management is to maintain the operational risk the Group takes, on the level consistent with a specific risk appetite. Operational risk management is based on internal procedures that are consistent with the law requirements, resolutions, recommendations and guidelines of the supervisor and includes: identification, asses sment, monitoring, preventing and reporting of operational risk. The operational risk profile is determined mainly by two operational event categories, in which the highest exposure to operational risk is identified i.e. Clients, products and business practices and External frauds. This is reflected in the table below, which presents the distribution of losses resulting from operational events by categories as defined by the Article 32 4 of Regulation (EU) No 575/2013 of the European Parliament and of the Council. The Group executes mitigation actions for all of the operational event categories, with particular emphasis on categories of the highest relevance. OPERATIONAL EVENTS BY CATEGORIES 2025 2024 Internal frauds 0.00% 0.00% External frauds 4.25% 3.22% Employment practices and workplace safety 0.14% 0.14% Clients, products and business practices 91.82% 95.65% Damages to physical assets 0.15% 0.23% Business disruption and system failures 0.03% 0.63% Execution, delivery and process management 3.61% 0.13% Total 100.00% 100.00% Bank executes mitigation actions for all of the operational event categories, with particular emphasis on categories of the highest relevance. OPERATIONAL EVENTS BY CATEGORIES 2025 2024 Internal frauds 0.00% 0.00% External frauds 4.37% 3.64% Employment practices and workplace safety 0.14% 0.15% Clients, products and business practices 91.67% 95.21% Damages to physical assets 0.15% 0.26% Business disruption and system failures 0.03% 0.71% Execution, delivery and process management 3.64% 0.03% Total 100.00% 100.00%
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50 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Credit risk Managing credit risk and maintaining it at a safe level is vital for the Bank’s financial performance. In order to minimize c redit risk, special procedures have been established, pertaining in particular to the rules of assessing obligor and transaction ri sk, collateralization of loan and lease receivables, credit decision powers and concentration risk management. Prudent credit risk management at Bank Pekao S.A. is based on the Credit Risk Strategy and Credit Risk Policy, which take into account, among the others, measures reducing the potential threats coming from macroeconomic factors related to the armed conflict in Ukraine and the related disturbances in the supply of raw materials and their impact on the quality of the loan portfolio. The same approach is applied in the Bank’s subsidiaries. Lending activities are subject to limits following both from the external regulations (CRR) and the Bank’s internal standards , including limits concerning exposure concentration ratios for individual sectors of the economy, limit on the share of large exposures in the Bank’s loan portfolio, portfolio limits and limits of exposures to countries, foreign banks and domestic financial institutions. The credit decision powers, lending restrictions as well as internal and external prudential standards, pertain to loans and guarantees as well as derivative transactions and debt instruments. The quality of the loan portfolio is also protected by periodic reviews and ongoing monitoring of the timely servicing of loans and the financial standing of customers. The Bank has continued to work on further rationalization of the credit process with an aim to obtaining better efficiency an d security, including in particular enhancement of the procedures and tools for risk measurement and monitoring. Credit risk concentration limits According to the applicable regulations the total exposure of the Bank to the risks associated with a client or a group of connected clients may not exceed 25% of a bank’s Tier 1 capital. In 2025, the limits of large exposures were not exceeded. Sector concentration In order to mitigate credit risk associated with excessive sector concentration the Bank sets up a system for shaping the sectoral structure of credit exposure. Every year within Credit Risk Policy the Bank defines sector limits for particular sec tors of e conomy. These limits are subject to ongoing monitoring. The system applies to credit exposure in particular types of business activity according to the classification based on the Polish Classification of Economic Activities (Polska Klasyfika cja Działalności – PKD).Concentration limits are set based on the Bank’s current credit exposure and risk assessment of each sector. Periodic monitoring of the Bank’s exposure allows for ongoing identification of the sectors in which the concentratio n of exposure may be too excessive. In such cases, an analysis of the economic situation of the sector is performed including both the current and forecast trends and an assessment of quality of the current exposure to that sector. These measures enable the Bank to formulate the activities to reduce sector concentration risk and ongoing adaptation of the Bank’s Credit Risk Policy to a changing environment. The Group’s risk management process The Bank supervises the risk related with subsidiaries. In particular an assessment on size and profile of risk related with their activities is performed. Risk management processes are consistent throughout the Group and adapted to the complexity of the risk profile of individual entities, in accordance with the principle of proportional ity.
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51 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Compliance risk Compliance risk is the risk resulting from breaching laws, internal regulations and market standards in the processes functioning within the Bank. Compliance risk can lead to criminal or administrative sanctions, material financial losses, diminished reputation, reduced brand value, reduced development potential and inability to perform contracts, as well as limitation or loss of the ability to conduct business activities. There is a separate unit for compliance matters functioning within the Bank, the Compliance Department, organisationally and operationally independent and subordinated directly to the President of the Management Board. Compliance Department is the key element of ensuring compliance within the Bank. The Bank ensures compliance through application of suitable control mechanisms and compliance risk management process coordinated by the Compliance Department. Within the control function, the Compliance Department designs and supervises the implementation of control mechanisms with the aim to ensure compliance with law, internal regulations and market standards. The Compliance Department autonomously applies some of such control mechanism and performs independent monitoring of their compliance by other org anizational units of the Bank, as well as reports the results of this monitoring. The compliance risk management process includes the following stages: identification, assessment, control, monitoring and reporting of the compliance risk level. Within the control function, the Compliance Department ensures compliance, in particular through: - current vertical verification on a continuous basis within risk-based approach on selected processes operating at the Bank (ex-ante activities), - vertical testing, including monitoring of adherence to selected on risk-based approach control mechanisms, performed in the case of completed activities within selected processes functioning at the Bank (ex-post activities), within the scope specified in the Regulations of functioning of the Compliance Department at Bank Pekao S.A. As part of compliance with laws, internal regulations and market standards each employee of the Bank is obliged to apply appropriate control mechanisms and to perform independent monitoring of adherence to control mechanisms, within the scope of duties assigned to him/her. The assumptions of the compliance risk management process were defined in developed by the Management Board and approved by the Supervisory Board, the Compliance Policy of Bank Pekao S.A. and Regulations of functioning of the Compliance Department at Bank Pekao S.A. There are following key elements supporting compliance risk management process: - supervision of the Supervisory Board and responsibility of the Management Board for the effective management of compliance risk and observance of the Compliance Policy of Bank Pekao S.A., - responsibility of the Bank’s employees for ensuring compliance within the scope of their duties, - properly defined organizational structure, including appropriate location of the Compliance Department, - internal regulations on compliance matters, - training, - constant cooperation between the Compliance Department, and the Internal Audit Department and other internal control system units. The reports on performance of tasks by Compliance Department together with the level of assessed compliance risk are presented to the Management Board and Supervisory Board. The oversight of compliance risk related to the activities of subsidiaries is performed in the Bank. Implementation and application of the compliance risk management standards are key factors in creating the enterprise value, reinforcing and protecting the Bank’s reputation, and winning public trust in the Bank’s activities and its standing.
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52 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 7.7 Capital adequacy Bank Pekao S.A. Group and Bank Pekao S.A. Capital ratios are the basic measure applied for the measurement of capital adequacy according to Regulation of the European Parliament and of the Council (EU) No 575/2013 of June 26, 2013 on prudential requirements for credit institutions and amending Regulation (EU) No 648/2012, which entered into force since January 1, 2014 together with further amendments, as well as Commission Implementing Regulations or Delegated Regulations (EU) (CRR Regulation). Capital ratios, capital requirements and own funds have been calculated in accordance with the above mentioned CRR Regulation using national options defined in article 171a of The Banking Act, Act of 5 August 2015 on macro -prudential supervision over financial system and crisis management in financial system (Act on macro-prudential supervision), as well as regulations of minister in charge of the finance institutions. According to law, Bank Pekao S.A. Group and Bank Pekao S.A. are required to maintain minimal values of capital ratios resulting from Pillar I level (CRR Regulation), capital requirement of Pillar II resulting from The Banking Act and combined buffer requirement resulting from Act on macro-prudential supervision. Minimal value of capital ratios on Pillar I level are: - Total capital ratio (TCR) in amount of 8%, - Tier I capital ratio (T1) in amount of 6%, - Common Equity Tier I capital ratio (CET 1) in amount of 4.5%. Combined buffer requirement as at 31 December 2025 consists of: - Capital conservation buffer in amount of 2.50%, - Countercyclical capital buffer in amount of 1.00%1 for Bank Pekao S.A. and Bank Pekao S.A. Group, - Other systemically important institution buffer in amount of 1.00%, - Systemic risk buffer in amount of 0.00%2. On Pillar II, Bank Pekao S.A. and Bank Pekao S.A. Group have no additional capital requirement (P2R). Together, Bank Pekao S.A. and Bank Pekao S.A. Group are obliged to maintain: - Total capital ratio (TCR) in amount of 12.50%, - Capital ratio Tier I (T1) in amount of 10.50%, - Common Equity Tier (CET 1) in amount of 9.00%. The capital ratios of Bank Pekao S.A. Group and Bank Pekao S.A. were significantly above the minimum required by the law. 1 Countercyclical capital buffer was calculated as of December 31, 2025 at the level 0,9960% for Bank Pekao S.A. and 0, 9963% f or Bank Pekao S.A. Group, due to the fact that on 18 September 2024, the Minister of Finance issued a regulation according to which countercycli cal capital buffer ratio is equal to 1% of the total risk exposure amount for credit exposures in the territory of the Republic of Poland. 2 According to the Regulation of the Minister of Finance, the systemic risk buffer was abolished on March 19, 2020. The buffer value applicable until that date was 3% of the total risk exposure amount for all exposures located only in the territory of the Republic of Poland.
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53 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. Group As of December 31, 2025 Bank Pekao S.A. Group total capital ratio amounted to 16.4% and common equity Tier I ratio amounted to 15.0%. The table below presents the basic information concerning Bank Pekao S.A. Group capital adequacy as of 31 December, 2025 and 31 December, 2024. CAPITAL REQUIREMENT (PLN mln) 31.12.2025 31.12.2024* Credit Risk 12,088 11,064 Market Risk 105 93 Counterparty credit risk including CVA 224 150 Operational risk 1,753 2,049 Total capital requirement 14,170 13,356 , OWN FUNDS (PLN mln) Common Equity Tier I Capital 26,642 25,889 Tier II Capital 2,464 2,074 Own funds for total capital ratio 29,106 27,963 Common Equity Tier I Capital ratio (%) 15.0% 15.5% Total capital ratio TCR (%) 16.4% 16.8% (*) Data for December 31, 2024 have been recalculated taking into account the retrospective recognition of part of the profit for 2024 (after confirmation of the financial results by the General Shareholders Meeting), in accordance with the EBA position expressed in Q&A 2018_3822 and Q&A 2018_4085. Common equity Tier I Capital Ratio of Pekao S.A. Group as at the end of December 2025 was lower by 0.5 p.p. compared to the end of December 2024, mainly due to the increase of total capital requirement by 6.1% despite higher Common Equity Tier I Capital by 4.1%. Total Capital Ratio of Bank Pekao S.A. Group as at the end of December 2025 was lower by 0.4 p.p. compared to the end of December 2024. Increase of Tier II Capital at the end of December 2025 compared to the end of December 2024 results from issuance of subordinated bonds E series in the amount of 750 mln, partially compensated by amortization of subordinated bonds A series and B series (during final 5 years of maturity of the instrument). Bank Pekao S.A. As of December 31, 2025 Bank Pekao S.A. total capital ratio amounted to 18.7% and common equity Tier I ratio amounted to 17.2%. The table below presents the basic information concerning Bank Pekao S.A. capital adequacy as of 3 1 December, 2025 and 31 December, 2024. CAPITAL REQUIREMENT (PLN mln) 31.12.2025 31.12.2024* Credit Risk 10,594 9,611 Market Risk 99 93 Counterparty credit risk including CVA 224 150 Operational risk 1,667 1,887 Total capital requirement 12,584 11,741 , OWN FUNDS (PLN mln) Common Equity Tier I Capital 27,000 26,295 Tier II Capital 2,464 2,074 Own funds for total capital ratio 29,464 28,369 Common Equity Tier I Capital ratio (%) 17.2% 17.9% Total capital ratio TCR (%) 18.7% 19.3% (*) Data for December 31, 2024 have been recalculated taking into account the retrospective recognition of part of the profit for 2024 (after confirmation of the financial results by the General Shareholders Meeting), in accordance with the EBA position expressed in Q&A 2018_3822 and Q&A 2018_4085. Common equity Tier I Capital Ratio of Pekao S.A. as at the end of December 2025 was lower by 0.7 p.p. compared to the end of December 2024, mainly due to the increase of total capital requirement by 7.2% despite higher Common Equity Tier I Capital by 3.9%. Total Capital Ratio of Bank Pekao S.A. as at the end of December 2025 was lower by 0.6 p.p. compared to the end of December 2024.
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54 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 8. Prospects for Development 8.1 Strategic directions and business priorities In April 2025, the Management Board of Bank Pekao S.A. adopted, and the Supervisory Board approved, the Bank’s strategy "… the only way is up!" for the years 2025 –2027. Drawing on emerging trends and opportunities, and capitalising on the bank’s core strengths, our principal aim is to strengthen our market position and sustain the high value delivered to shareholders. All initiatives are aligned with the Bank’s mission, vision, and values. Mission: With You Throughout Life We support our clients at every stage of their life journey – from their first account to milestone decisions, from local business ventures to international success. Through the commitment of our employees and intelligent technologies, we unite a century of Pekao’s tradition with a dynamic outlook toward the future. Vision: First Choice – Today and Tomorrow To be a universal, benchmark Bank in Poland – a leader in intelligent financial technologies, supporting clients throughout their personal and professional journeys. We are building a workplace where employee passion and development translate into outstanding client experiences. Values: Simply, Together, Courageously, Responsibly, With Determination, Openly, Honestly Our ambition for 2027 is to rank among the most profitable and efficient institutions in the Polish banking sector. Our "… the only way is up!" strategy is built on three pillars: Growth, Accessibility, and Efficiency. Within these pillars, we have defined nine strategic directions. Within these pillars, we address our strategic adaptation to identified market trends – developments we aim to actively leverage in our day -to-day operations. These include increasing environmental volati lity, demographic challenges, a shift towards understanding and fulfilling client expectations, rapid technological advancement, and emerging investment and economic transformation opportunities. Growth Pillar – We will focus on expanding key client segments and product lines to improve financial results and grow market share. Strategic directions under this pillar include: 1. Supporting client activity with sensitivity to lifecycle changes; 2. Leveraging our partnership with PZU Group to build a leadership position in the bancassurance market; 3. Integrating Pekao Group Products (Leasing, Factoring) with client Relationship Management – particularly for SMEs and microenterprises. 4. Expanding corporate and enterprise banking by capitalising on economic momentum and the Bank’s sector-specific expertise. Accessibility Pillar – We will make banking services more modern, convenient, and tailored to client lifestyles. Strategic directions in this pillar include: 5. Integrated client service model with high-quality conversational banking and an optimised branch format 6. A client-centric approach with service quality at the forefront, to ensure interacting with the Bank becomes a positive and seamless experience. Efficiency Pillar – We will enhance operational efficiency through fast, modern processes and an aspirational organisational culture. Strategic directions in this pillar include: 7. Developing an effective data ecosystem, including integrated and efficient management and financial reporting; 8. Enhancing the ergonomics of key processes based on continuous improvement 9. Aspirational organisational culture driven by dynamic attitudes, decisiveness, and a willingness to embrace new solutions.
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55 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Within each pillar, we have highlighted the goals we want to achieve in the 2027 horizon: PILLAR GROWTH ACCESSIBILITY EFFICIENCY 2027 • 1.4 million young clients under 26 • +700,000 active clients • PLN 1 billion in gross written premium (GWP) • x5 increase in GWP for standalone products • TOP3 in leasing & factoring • x2 increase in the number of new leasing and factoring clients • Leader in corporate banking • Leader in public sector banking • 4.4 million active mobile clients • x3 increase in client interactions via voice channels • 72% share of remote sales • TOP3 NPS in mass segments • Implementation of the data ecosystem foundations and launch of the Data Driven model • 30% share of remote channels in business loan sales • 70% digitalisation rate for SME, MID and Corporate segments • x3.5 increase in the number of systems in the cloud • 10% increase in work efficiency • >2x increase in AI solutions implemented in the Bank • 80% of employees using AI Strategy Implementation in 2025 In 2025, we initiated the implementation of our new strategy. To operationalise it, the ambitions outlined in the document were cascaded across the Bank’s business areas and translated into a list of several strategic initiatives Key Strategic Goals: We concluded 2025 having achieved our key strategic goals in line with the trajectory set out in the strategy: STRATEGIC GOAL 2025 PERFORMANCE 2024 PERFORMANCE 2027 TARGET ROE (%) 21.4% 21.2% >18 C/I (% incl. BFG charges) 34.5% 34.2% <35 CoR (bps) 0.39 0.48 65-75 Dividend payout ratio (%) n/a 75 50-75 As of the date of publication of the Report, the dividend payout ratio has not yet been approved. Nevertheless, the Bank maintains a strong capital position, which supports the dividend policy. This is reflected in the level of Tier 1 ratios of 15.0% and the total capital ratio of 16.4%. Growth Pillar In 2025, we consistently pursued initiatives aimed at strengthening our position in the most profitable segments, such as consumer finance, microenterprises, SMEs and mid-sized companies. Drawing on Pekao’s well-established corporate banking expertise, we supported our clients’ development and engaged in major transformati on projects. In 2025, we opened a total of 497.5 thousand retail client accounts, maintaining a high acquisition rate. 35% of these were new current accounts for clients under the age of 26. By the end of 2025, the Bank served 6.7 million retail clients, including 1.2 million young clients. Our sales performance was significantly supported by the “ Supermoce w podróży ” campaign and a comprehensive suite of solutions designed to meet clients’ travel needs during the holiday season. Innovative payment rings and the ability to purchase e-vignettes via the PeoPay app proved particularly popular. In cooperation with LOT Pol ish Airlines and the Miles & More programme, we continued to promote mileage accumulation for transactions made using the “Żubr Credit Card”, which is now used by over 34.7 thousand clients. We also ran promotional campaigns to support the sale of accounts for children and youth. Parents were encouraged to open their child’s first account through attractive incentives. We offered competitive interest rates on the “Mój Skarb” savings account. Additionally, we conducted extensive activities to build the Bank’s image among young clients, supporting their passions – in sports, gaming and music (e.g. partnering with the Bittersweet festival in Poznań). In 2025, we achieved very good sales results in the area of cash loans. The value of cash loans granted amounted to PLN 7.4 billion in net volumes, i.e. 17% more than last year. The gross value of new contracts signed amounted to PLN 8.9 billion. In 2025, we also were successfulin mortgage lending. Sales reached PLN 10.8 billion. Despite intensifying competition, we maintained a strong market position, thanks in part to the consistent positioning of Pekao’s offer among the most competitive in the market.
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56 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Also in the business customer segment we achieved an increase in sales, new sales of total financing (loans, leasing and factoring) amounted to PLN 3.3 million and were higher by +13.5% y/y. Sales of bank loans in the business segment amounted to PLN 1.4 billion. The Bank provides customers with simplified and fast paths in the credit procedure, including pre-limit-based solutions that reduce the time needed to obtain funds. In 2025, we consistently developed sales of insurance products. We conducted intensive marketing activities and personalized communication with the use of the CRM system, which are aimed at increasing customer awareness of the insurance offer and current promotions, m.in. for travel or motor insurance during the holiday season. The premium collected from insurance products was 4.6% higher than in 2024. The bank's share in the bancassurance market reached 16% at the end of 2025. In 2025, we achieved very good results in the area of sales of investment products. Total net sales of investment products (retail and private banking clients) amounted to PLN 19.3 billion, with a growth rate of +10.2% y/y. We recorded a record - breaking acquisition in the Private Banking segment – nearly 2 thousand new clients. Thanks to effective business initiatives aimed at strengthening existing and building new competitive advantages in the SME and MID segments, we have continued to reinforce the Bank’s market position in this area. We offer our clients a broad, comprehensive range of products and services, including bank loans, leasing, factoring, bond issuance, and other specialised forms of financing. In 2025, we further expanded our offering with new solutions, such as: - Signing an agreement with the European Investment Fund (EIF) for preferential financing totalling over PLN 1.25 billion under the InvestEU programme. This collaboration provides credit guarantees covering up to 80% of the financing amount granted by the Bank, - Increasing access to mortgage loans and SMEX express loans for small and medium -sized enterprises, enabling more firms to benefit from flexible financing options, - Raising the guarantee limit under the Investmax programme, allowing SME clients to obtain higher credit security and scale up their investment projects, - Introducing credit products based on POLSTR, providing customers with financing based on the new indicator. In 2025, we acquired 2.8 thousand customers in the SME segment and 1.1 thousand new customers in the MID segment (+26% y/y). The value of new loans sold (excluding renewals) in the SME segment reached PLN 7.7 billion (+16% y/y). On the other hand, in the MID segment, the value of new loans sold amounted to PLN 16.0 billion (+19.5% y/y). In corporate banking, we focus on expanding specific business areas using advanced tools that support the work of advisors, product specialists and analysts. While nurturing long -term business relationships and establishing new ones, we engage in projects with major corporate clients, public sector entities, the commercial real estate sector and financial institutions. Our activities are multifaceted – we closely collaborate with leading firms and play a key role in strategic projects supporting the Polish economy. In the public sector, we work with nearly all Polish metropolitan areas (11 out of 12), over 50 public universities, and are one of the two most frequently selected banks by local governments issuing bonds. We are actively involved in the transformation of the Polish economy, also developing investment banking, specialised financing, transactional banking, treasury, and international banking – supporting our clients’ global expansion. In 2025, we consistently strengthened our leading market position, reflected in stable income results, market shares and numerous industry awards. At the end of 2025, we served over 7 thousand corporate clients. The volume of gross corporate loans amounted to PLN 64.8 billion (+10% y/y), while loans to the public sector amounted to PLN 11.5 billion (+10% y/y). Accessibility Pillar At the heart of our operations is the client and their needs. We are intensively developing digital channels and fast, user-friendly service processes. In 2025, a key organisational focus was on improving the client experience management model, which was implemented at the end of the previous year. Our aim was not only to embed the model in everyday operational practice but also to establish it as a stand ard guiding the organisation’s future development. In this context, a number of initiatives were undertaken to promote this new approach – both by raising awareness among employees and through its practical implementation in core business processes. The client experience management model was designed to ensure that every person using our services receives support of the highest standard: professional, transparent, and empathetic. Regardless of financial needs, life stage or preferred conta ct channel, every client can count on support that meets their expectations. Our relationships with clients are founded on security and trust, with an emphasis on proactively responding to signals and anticipating future needs.
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57 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 We continuously listen to the voice of the client, using a broad spectrum of sources: internal and external research, complaints, social media feedback and opinions published on industry platforms. The data gathered is carefully analysed and used as a foundation for designing solutions tailored to actual client expectations. As a result of these actions, client experience management has become embedded in our organisational culture, significantly strengthening the implementation of our 2025–2027 development strategy. Every business initiative and decision made within the organisation is based on thorough analysis of client needs, making client satisfaction a priority and shaping future actions accordingly. The results achieved in 2025 confirm that we are delivering on our strategic commitment to continuously improving the client experience – including higher satisfaction scores and NPS. These trends are also reflected in independent analyses and market publications, which highlight a clear improvement in how our organisation is perceived by clients. A key component of the strategy is the implementation of an integrated service model in the retail banking segment. In 2025, we continued intensive work on enhancing the functionality of our digital service channels. We introduced a number of new solutions in the Pekao24 online banking platform and the PeoPay mobile app. These included: - payment rings (enabling transactions linked to debit and credit cards), - samsung Pay digital wallet, - e-vignettes (functionality allowing for the purchase of electronic toll passes for motorways and roads in selected European countries), - behavioural protection service (a free solution designed to increase client safety and prevent fraud attempts) , - batch transfers (split payment functionality), - enhancements to the interface and ergonomics of digital channels, improving user intuitiveness. At the end of 2025, we reached the level of active mobile customers assumed in the strategy, which increased by 294 thousand to 3.7 million. We have consistently increased the share of loans granted in remote channels in the Pekao24 service, in the PeoPay mobile application and via the Bank's line. The value of sales of cash loans concluded electronically amounted to PLN 6.0 billion, i.e. +25% y/y. The share of cash loans sold in remote channels (in volume terms) was 88%. The Bank also continued to offer preferential pricing terms to customers using remote channels when purchasing investment products, which translated into an increase in the number of transactions carried out in these channels. The development of remote distribution channels was accompanied by activities aimed at improving the efficiency of the branch network. In 2025, the Bank reduced its network by 13 branches. At the end of the year, the network included 473 own outlets and 87 partner outlets. Efficiency Pillar Under the Efficiency pillar, we implemented initiatives aimed at digitalising both credit and non -credit processes in the enterprise and corporate segments, while also strengthening the Bank’s technological competencies and capabilities. To optimise key credit processes, we undertook actions focused on improving their efficiency and reducing credit decision turnaround times. We continued to develop remote service channels for enterprise and corporate clients. We launched an upgraded version of the PekaoBiznes24 platform and introduced the new PeoBIZ 2.0 mobile application. These solutions significantly enhanced service quality by improving intuitiveness and functionality. At the same time, we expanded the client onboarding process functionalities – both remotely and in branches. As a result of these initiatives, the digitalisation rate for the SME, MID and corporate segments increased by 10 p.p. compared to the previous year. In 2025, we also conducted a dynamic transformation across the broader IT area. Under the new strategy, we will design and implement a solid foundation for a modern data ecosystem – understood as an integrated environment of business and technical systems, management processes, organisational roles, and change governance mechanisms. This will enable the transformation of Bank Pekao into a truly data -driven organisation. One of our strategic initiatives focuses on developing the skills and technologies needed to harness the potential of artificial intelligence. In 2025, we launched new tools for employees, including those within the agent platform. These were accompanied by training initiatives to help staff deepen their expertis e, use AI effectively in their daily work, and do so in a safe and responsible manner. Other modernisation efforts included further development of cloud-based solutions and the implementation of a modern, layered, scalable and secure IT architecture and infrastructure.
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58 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Business priorities for 2026 The macroeconomic environment in 2026 is expected to support the implementation of the “"… the only way is up!"” Strategy for 2025–2027. The Bank forecasts GDP growth in Poland of around 4.0%, alongside a decline in inflation to levels close to the National Bank of Poland’s target. These conditions should sustain strong investment and consumption activity. In particular, the anticipated acceleration in the absorption of EU Recovery Plan funds and the execution of infrastructure and energy projects will driv e demand for corporate and project financing. For banks, this will mean operating in an environment of intensified competition to participate in financing such undertakings. In terms of monetary policy, we expect the Monetary Policy Council (RPP) to lower the reference rate to its target level of 3.50% in 2026. The 2025–2027 strategy assumes an increased contribution from non-interest income, which will help mitigate the negative effects of rate cuts. Falling interest rates, along with persistently low inflation and low unemployment, should support the quality of the credit portfolio. However, regulatory changes such as the planned increase of the CIT rate for banks to 30% in 2026 will negatively impact the Group’s results. The tax hike will lower the return on equity ratio and increase the risk of higher capital acquisition costs in financial markets. The geopolitical environment remains a risk factor, particularly due to the ongoing conflict in Ukraine, trade tensions, and potential fragmentation of global supply chains. We continuously monitor the evolving situation, including sectoral exposures sensitive to energy price volatility and trade risks, and we adjust our actions in response to these emerging challenges. Taking into account the opportunities and risks resulting from the macroeconomic and market environment, the bank will consistently implement the adopted strategy, while carefully monitoring the progress of its implementation. 8.2 Factors which will affect the results of the Group The activity of Bank Pekao S.A. and the Group’s companies is in majority conducted on the Polish territory, hence the Group’s performance will be mainly affected by economic situation in the country and international events that have influence on domestic economy. In 2025, economic growth accelerated to approx. 3.5% y/y. The key factor driving GDP growth was the strengthening of real consumption (approx. 3.5% y/y). The biggest disappointment was investment, which, despite the inflow of funds from the NGEU programme, did not reach the forecast growth rate of close to 10% y/y. The contribution of foreign trade was negative (-0.3% y/y) despite an increase in real export volume, which lagged behind accelerating imports. 2026 will be marked by accelerated growth (we forec ast 4% real GDP growth), mainly due to the investment boom (9.1% y/y). Private consumption growth (3.7% y/y) will remain similar to last year's despite the slowing wage fund dynamics. Average annual CPI inflation in 2025 stood at 3.6% y/y, but the trajectory of monthly price readings was clearly disinflation ary – last year ended with a monthly reading of 2.4% y/y, below the inflation target. Disinflation will continue in 2026; we foreca st that the average price growth this year will be 1.9% y/y. Factors contributing to further disinflation will include the stabi lization of commodity prices (including energy) on global markets, as well as the so-called import of disinflation from China. The growth rate of service prices will remain higher than inflation in the goods segment, but given the closing demand gap and slowing wage growth, we do not see any significant inflationary risks building up here. Monetary policy is a key macroeconomic factor affecting the financial performance of the banking sector. In 2025, RPP cut interest rates by 175 basis points, the deepest cut in over a decade. As a result, last year ended with the policy rate of 4.00%. Despite a significant reduction in the reference rate and benchmark market rates, the banking sector's aggregate profits in 2025 amounted to PLN 48,9 billion, breaking the record set in 2024 (PLN 40.2 billion) which had been achieved, it is worth noting, under a reference rate of 5.75%. Despite the decline in interest rates, banks in Poland increased their interest inco me by PLN 3 billion with virtually unchanged interest costs, which on the one hand results from a significant increase in the volume of loans granted, and on the other hand reflects adjustments in deposit margins. It is also worth noting that the factor that weighed most heavily on the profit and loss account in 2025 compared to 2024 was the item “costs and depreciation,” whose increase resulted from dynamic growth in salaries. In 2026, we expect the cycle of monetary policy adjustments to come to an end and the re ference rate to reach its target level of 3.25% or only slightly lower. Given the projected rebound in the credit market, especially in the residential and corporate segments, we believe that further rate cuts of 75 bp will not have a significant impact on the sector's financial results, especially in view of the observed adjustments to deposit margins in an environment of inelastic deposit supply.
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59 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Among the local factors affecting banks' results, particular attention should be paid to the issue of the CIT rate increase for the banking sector. According to the estimates of the Ministry of Finance, in 2026 banks will pay an additional PLN 6 billion in corporate income tax. The issue of tax incidence, i.e. the distribution of actual tax burdens between taxpayers (banks) and their customers, remains unclear. Only slight declines in deposit margins (understood as the difference between customer deposit interest rates and the WIBOR rate) may indicate attempts to increase the share of customers in the costs associated with fiscal changes. At the same time, increases in banks' commission income indicate that the sector is actively seeking additional sources of profit in view of the expected increase in tax burdens. The credit boom in the corporate segment will be a promising source of additional profits for the sector; however, it is important to bear in mind the intensifying interbank competition in this segment. At the same time, we see specific sources of growth i n demand for corporate credit in 2026, including investment needs related to industrial decarbonization and ESG requirements. At the same time, we expect growth in demand for alternative forms of financing, such as leasing and factoring. On 12 February 2026, the CJEU issued a judgment in Case C 471/24 concerning interest rate clauses based on WIBOR index. The CJEU confirmed that the methodology for determining WIBOR is outside the scope of judicial review and that the variable interest rate clause itself can only be assessed in terms of transparency. Compliance with the information obligations under Directive 2014/17 is, in principle, the fulfilment of that requirement. The CJEU also pointed out that the use of a benchmark in accordance with the BMR Regulation does not in itself lead to an imbalance to the detriment of the consumer. This decision should be assessed as beneficial for the banking sector. We consider the risk to the banking sector's performance associated with global factors to be moderate. In particular, the possible end of kinetic actions in the Russian-Ukrainian conflict will only have a limited impact on the sector's operations. The impact of peace on the decline in risk premiums will be limited due to the long -lasting, deep fiscal deficits in Poland; we also see no potential for a significant deterioration in the balance of payments. In core markets, however, the key factor of uncertainty will be the shape of Fed policy after Chairman J. Powell steps down, as well as the long -term impact of this policy on inflationary pressure in the US.
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60 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 9. Statement of Financial Position and Financial Results Consolidated income statement containing cumulated items for the period from 1 January to 31 December, 202 5 and 2024 respectively is presented in the Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025. The Report on activities of Bank Pekao S.A. Group for the year 202 5, includes statement of financial position in a short form and income statement in a presentation form as well as the key, selected items from these statements are discussed. 9.1 The consolidated income statement – presentation form In 2025, the net profit of the Bank Pekao S.A. Group attributable to the Bank’s shareholders amounted to PLN 7,015 million was higher by PLN 639 million, i.e. 10.0% compared to the result achieved in 2024. This was the highest result achieved in the Group's operations to date. The results of 2025 include the establishment of provisions for consumer protection matters in the amount of PLN -202 million net, higher by PLN 150 million y/y, and the revaluation of deferred tax assets, with a positive impact on net profit in the amount of PLN 179 million. (in PLN million) 2025 2024 CHANGE Net interest income 13,693 12,729 7.6% Net fee and commission income 3,154 2,854 10.5% Dividend,income 34 30 13.3% Trading result 448 444 0.9% Net other operating income and expenses (164) (8) > 100% Net non-interest income 3,472 3,320 4.6% Operating income 17,165 16,049 7.0% Operating costs (5,530) (5,244) 5.5% Gross operating profit 11,635 10,805 7.7% Net allowances for expected credit losses (760) (883) (13.9%) Costs of legal risk of foreign currency mortgage loans (664) (669) (0.7%) Net operating profit 10,211 9,253 10.4% Contributions to the Bank Guarantee Fund (384) (239) 60.7% Tax on certain financial institutions (861) (898) (4.1%) Share in profit on assiosiates (5) 7 x Profit before tax 8,961 8,123 10.3% Income tax expense (1,942) (1,744) 11.4% Net profit 7,019 6,379 10.0% Attributable to equity holders of the Bank 7,015 6,376 10.0% Attributable to non-controlling interest 4 3 33.3% Operating income The Group’s operating income in 2025 amounted to PLN 17,165 million and was 7.0% higher than in 2024, mainly due to net interest income and net fee and commission income, which was driven by volume increases and increased customer activity.
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61 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Total net interest income (in PLN million) 2025 2024 CHANGE Interest income and similar to interest 19,215 18,810 2.2% Interest expense (5,522) (6,081) (9.2%) Net interest income 13,693 12,729 7.6% Net interest income in 2025 amounted to PLN 13,693 million and was higher by PLN 964 million, i.e. 7.6%, compared to the result achieved in 2024, mainly due to higher volumes, especially in strategic product areas and higher interest margin, with continued high liquidity and lower costs of deposits. The 2024 results include the costs of credit holidays in the amount of PLN 153 million. Interest income and similar to interest In 2025, interest income and income similar to interest amounted to PLN PLN 19,215 million and were higher by PLN 405 million y/y, thanks to higher volumes, especially in the strategic areas of cash loans, growing by more than 13% y/y, corporate loans from the MID and SME segments, also growing by more than 13% y/y. The 2024 results include the costs of credit holidays in the amount of PLN 153 million. Interest expense Interest expense in 2025 amounted to PLN 5,522 million and was lower by PLN 559 million y/y, despite higher volumes of liabilities to customers and from the issue of debt securities, growing by 5% y/y, thanks to the effective pricing policy and management of the Group's liquidity needs Interest margin The net interest margin achieved in 2025 amounted to 4.2% and remained at the level recorded in 2024, excluding the costs of credit holidays, despite lower interest rates.
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62 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Net non-interest income (in PLN million) 2025 2024 CHANGE Fee and commission income 4,116 3,731 10.3% Fee and commission expense (962) (877) 9.7% Net fee and commission income 3,154 2,854 10.5% Dividend income 34 30 13.3% Trading result 448 444 0.9% Net other operating income and expense (164) (8) > 100% Net non-interest income 3,472 3,320 4.6% Net fee and commission income generated in 2025 amounted to PLN 3,154 million and was higher by PLN 300 million, i.e. 10.5% compared to the result achieved in 2024, thanks to increases in all areas of the Group's operations, which was driven by growing customer activity and a favourable situation on the capital markets. Other operating income and expenses lower y/y, mainly due to the establishment of provisions for consumer protection cases in the amount of PLN -202 million. Non-interest income generated in 2025 amounted to PLN 3,472 million and was higher by PLN 152 million, i.e. 4.6% compared to the result achieved in the previous year, mainly due to higher net fee and commission income . The table below presents the Group’s net fee and commission income divided according to the main areas of the activity. (in PLN million) 2025 2024 CHANGE Net fee and commission income 3,154 2,854 10.5% on loans 658 628 4.8% on cards 342 308 11.0% on mutual funds 605 477 26.8% on brokerage activate 207 156 32.7% on margins on foreign exchange transactions with clients 752 707 6.4% other 590 578 2.1% Operating costs Operating expenses in 2025 amounted to PLN 5,530 million and were higher by PLN 286 million, i.e. 5.5% compared to 2024, supporting business development, with the costs of salaries and other employee benefits lower by 1.5% y/y, thanks to the launch of the voluntary redundancy program at the end of 2024. (in PLN million) 2025 2024 CHANGE Personnel expenses (3,257) (3,306) (1.5%) General administrative expenses and depreciation (2,273) (1,938) 17.3% Operating costs (5,530) (5,244) 5.5% Costs/income (including contributions to the Bank Guarantee Fund) in 2025 amounted to 34.5% compared to 34.2% in the same period of 2024. Contributions to the Bank Guarantee Fund Contributions to the Bank Guarantee Fund in 2025 amounted to PLN 384 million and were higher by PLN 145 million, i.e. 60.7% than in 2024 due to the restoration of contributions to the Bank Guarantee Fund, which had not been collected for the last two years, and an increase in the volume of guaranteed funds. Tax on certain financial institutions The tax on certain financial institutions in 2025 amounted to PLN 861 million and was lower by PLN 37 million, i.e. 4.1% than in 2024.
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63 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Net allowances for expected credit losses and cost of risk (in PLN million) 2025 2024 CHANGE financial assets measured at amortized cost (845) (913) (7.4%) financial assets measured at fair value through other comprehensive income (37) 8 x financial liabilities measured at amortized cost 122 22 > 100% Net allowances for expected credit losses (760) (883) (13.9%) Costs of legal risk of foreign currency mortgage loans (664) (669) (0.7%) Net allowances for expected credit losses in 2025 amounted to PLN 760 million and was lower by PLN 123 million, i.e. 13.9% than in 2024. The Group’s cost of risk in 2025 amounted to 0.39% and was lower by 0.09 p.p. than in the previous year and is in line with the strategic assumptions and the adopted risk appetite. The decrease in the cost of risk is mainly due to a lower loss ratio of the loan portfolio, in particular the retail loan portfolio, which was also reflected in a gradual improvement in the parameters used in the valuation and income from the sale of the loan receivables portfolio. 181 232 198 272 153 231 240 136 0,40% 0,51% 0,43% 0,58% 0,33% 0,48% 0,49% 0,27% I q 24 II q 24 III q 24 IV q 24 I q 25 II q 25 III q 25 IV q 25 Net allowances for expected credit losses (in PLN million) Costs of risk
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64 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 9.2 Structure of the consolidated statement of financial position – short form The balance sheet of Bank Pekao S.A. determines the amount of total assets in balance sheet and the structure of the assets and liabilities of the Group. As at the end of Decemebr 2025, the total assets of Bank Pekao S.A. constitutes 95.9% of the total assets of the whole Group. The table below presents the Group’s statement of financial position – short form. ASSETS 31.12.2025 31.12.2024 CHANGE PLN MILLION STRUCTURE PLN MILLION STRUCTURE Cash and cash equivalents (*) 12,016 3.4% 14,269 4.3% (15.8%) Loans and advances to banks (**) 501 0.1% 172 0.1% > 100% Loans and advances to customers (***) 197,343 56.0% 182,158 54.5% 8.3% Reverse repo transactions 4,715 1.3% 4,685 1.4% 0.6% Securities (****) 122,628 34.8% 119,772 35.8% 2.4% Investments in associates 152 0.0% 59 0.0% > 100% Property, plant and equipment and intangible assets 4,784 1.4% 4,573 1.4% 4.6% Other assets 10,094 2.9% 8,554 2.6% 18.0% Total assets 352,233 100.0% 334,242 100.0% 5.4% (*) Cash and cash equivalents include cash in hand, amounts due from the National Bank of Poland, as well as amounts due from banks with a maturity of up to 3 months. (**) Including net investments in financial leases to banks. (***) Including net investments in financial leases to customers and non-treasury debt securities. (****) Including financial assets held for trading. other financial instruments at fair value through profit and loss and excluding non-treasury debt securities. EQUITY AND LIABILITIES 31.12.2025 31.12.2024 CHANGE PLN MILLION STRUCTURE PLN MILLION STRUCTURE Amounts due to other banks 5,748 1.6% 7,344 2.2% (21.7%) Amounts due to customers 268,463 76.2% 259,034 77.5% 3.6% Debt securities issued 20,265 5.8% 16,167 4.8% 25.3% Subordinated liabilities 5,642 1.6% 2,782 0.8% > 100% Repo transactions 1,089 0.3% 1,000 0.3% 8.9% Other liabilities 15,664 4.4% 16,001 4.8% (2.1%) Total equity including 35,362 10.0% 31,914 9.5% 10.8% non-controlling interests 14 0.0% 13 0.0% 11.5% Total liabilities 352,233 100.0% 334,242 100.0% 5.4% Assets Changes in the structure of assets The main items in the asset structure are loans and advances to customers and securities, which accounted for 56.0% and 34.8% of the balance sheet total at the end of 2025 (54.5% and 35.8%, respectively, at the end of 2024). Customers’ Financing Customer structure of loans and advances (in PLN million) 31.12.2025 31.12.2024 CHANGE Loans and advances at nominal value (*) 202,214 186,507 8.4% Loans and investments in financial leases 189,141 174,800 8.2% Retail 88,005 83,768 5.1% Corporate 101,136 91,032 11.1% Non-treasury debt securities 13,073 11,707 11.7% Other (**) 1,559 1,631 (4.4%) Impairment allowances (6,430) (5,980) 7.5% Total net receivables 197,343 182,158 8.3% Reverse repo transactions 4,706 4,673 0.7% Total Customers’ financing (***) 206,920 191,180 8.2% (*) Excluding reverse repo transactions. (**) Including interest and receivables in transit. (***) Total customers’ financing includes loans and advances at nominal value. securities issued by non-monetary entities and reverse repo transactions.
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65 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 As at the end of December 2025, loans and advances at nominal value amounted to PLN 202,214 million and were higher by PLN 15,707 million, i.e. 8.4%, than at the end of December 2024. At the end of December 2025, the volume of retail loans amounted to PLN 88,005 million and were higher by PLN 4,237 million, i.e. 5.1% than at the end of December 2024, thanks to the sale of cash loans higher by 17.3% y/y, which allowed for an increase in volumes by 13.1% y/y and sales of mortgage loans at the level of PLN 10,8 billion, which allowed for an increase in volumes by 3.6% y/y. At the end of December 2025, corporate loans, including non-Treasury debt securities, amounted to PLN 114,209 million and were higher by PLN 11,470 million, i.e. 11.2%, compared to the end of December 2024, mainly due to a strong increase in corporate loans in the MID and SME segments by 13.1% y/y and loans to large enterprises by 11.4% y/y, with the acquisition of over 3.8 thousand new customers and an enriched product offer. Receivables and impairment losses (*) (in PLN million) 31.12.2025 31.12.2024 CHANGE Gross receivables 203,773 188,138 8.3% Stage 1 176,425 160,546 9.9% Stage 2 18,348 19,179 (4.3%) Stage 3 9,000 8,413 7.0% Impairment allowances (6,430) (5,980) 7.5% Stage 1 (754) (676) 11.5% Stage 2 (563) (864) (34.8%) Stage 3 (5,113) (4,440) 15.2% Total net receivables 197,343 182,158 8.3% (*) Including net investments in financial leases to customers. non-treasury debt securities. interest and receivables in transit and excluding reverse repo transactions. As at the end of December 2025 the ratio of impaired receivables (stage 3) to the gross receivables amounted to 4.5%. Loans and advances to customers by currency (*) 31.12.2025 31.12.2024 CHANGE PLN MILLION STRUCTURE PLN MILLION STRUCTURE Denominated in PLN 165,708 81.3% 152,418 81.0% 8.7% Denominated in foreign currencies (**) 38,065 18.7% 35,720 19.0% 6.6% Total 203,773 100.0% 188,138 100.0% 8.3% Impairment allowances (6,430) x (5,980) x 7.5% Total net 197,343 x 182,158 x 8.3% (*) Including net investments in financial leases to customers. non-treasury debt securities. interest and receivables in transit and excluding reverse repo transactions. (**) Including indexed loans. The currency structure of loans and advances to customers is dominated by amounts expressed in the Polish złoty, as at the end of December 2025 their share was 81.3%. The largest portion of foreign currency loans and advances to customers were represented by those denominated in EUR (93.7%),
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66 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Loans and advances to customers by contractual maturities (*) 31.12.2025 31.12.2024 CHANGE PLN MILLION STRUCTURE PLN MILLION STRUCTURE Current and up to 1 month 24,272 11.9% 22,502 12.0% 7.9% 1 to 3 months 7,940 3.9% 7,385 3.9% 7.5% 3 months to 1 year 21,312 10.5% 19,328 10.3% 10.3% 1 to 5 years 67,405 33.1% 62,143 33.0% 8.5% Over 5 years 77,618 38.1% 71,616 38.1% 8.4% Past due 3,667 1.8% 3,533 1.9% 3.8% Other 1,559 0.8% 1,631 0.9% (4.4%) Total 203,773 100.0% 188,138 100.0% 8.3% Impairment allowances (6,430) x (5,980) x 7.5% Total net 197,343 x 182,158 x 8.3% (*) Including net investments in financial leases to customers. non-treasury debt securities. interest and receivables in transit and excluding reverse repo transactions. As at the end of December 2025 loans and advances with maturity over 5 years represents 38.1% of total loans and advances (mainly attributed to mortgage loans, investment loans and non-treasury debt securities). Liabilities Changes in the structure of liabilities The largest part of the Bank's liabilities are funds obtained from customers. As at the end of 2025, liabilities to customers , liabilities arising from the issue of debt securities and subordinated liabilities amounted to PLN 294,370 million, and their share in the balance sheet total amounted to 83.6% (83.2% at the end of 2024). The share of equity in the balance sheet total was 10.0% at the end of 2024 (9.5% at the end of 2024). External sources of financing (in PLN million) 31.12.2025 31.12.2024 CHANGE Amounts due to other banks 5,748 7,344 (21.7%) Amounts due to customers 268,463 259,034 3.6% Debt securities issued 20,265 16,167 25.3% Subordinated liabilities 5,642 2,782 > 100% Repo transactions 1,089 1,000 8.9% Total external sources of financing 301,207 286,327 5.2% The operating activity of Bank Pekao S.A. is conducted exclusively in the territory of the Republic of Poland. The Bank's deposit base is highly diversified, with both retail and corporate clients as depositors. The Bank also obtains funds from the interb ank market, but it is not dependent on a single client or a group of clients. Detailed information on the issue of securities, which are also an important source of financing for operations, is presented in the point: Other Information Information on the issuance, redemption and repayment of debt securities.
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67 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Amounts due to customers and debt securities issued (in PLN million) 31.12.2025 31.12.2024 CHANGE Amounts due to customers (*) 268,463 259,034 3.6% Corporate deposits 113,307 109,183 3.8% Non-financial entities 79,996 79,810 0.2% Non-banking financial entities 11,462 9,259 23.8% Budget entities 21,849 20,114 8.6% Retail deposits 154,482 148,844 3.8% Other (**) 674 1,007 (33.1%) Repo transactions 1,089 1,000 8.9% Debt securities issued of which 20,265 16,167 25.3% Senior bonds 9,873 6,456 52.9% Pekao Bank Hipoteczny S.A. covered bonds 1,458 1,428 2.1% Pekao Bank Hipoteczny S.A. bonds 412 565 (27.1%) Pekao Leasing Sp. z o.o. bonds 5,071 3,490 45.3% Pekao Faktoring Sp. z o.o. bonds 3,296 4,119 (20.0%) Interest 155 109 42.2% Investment funds of Pekao TFI S.A. (ex. Pioneer Pekao TFI) 41,224 32,189 28.1% Bond and money market funds 29,053 23,363 24.4% Balanced funds 7,067 5,055 39.8% Equity funds 2,518 2,131 18.2% PPK 2,586 1,640 57.7% including distributed through the Group’s network 35,814 28,308 26.5% (*) Excluding repo transactions and lease liabilities. (**) Other item includes interest and funds in transit. As at the end of December 2025, liabilities to the Group's customers amounted to PLN 268,463 million and were higher by PLN 9,429 million, i.e. 3.6%, than at the end of December 2024. As at the end of December 2025, retail and other amounted to PLN 155,098 million and were higher by PLN 5,388 million, i.e. 3.6%, compared to the end of December 2024. As at the end of December 2025, corporate and other amounted to PLN 113,365 million and were higher by PLN 4,041 million, i.e. 3.7%, compared to the end of December 2024. As at the end of December 2025, the net assets of investment funds managed by Pekao TFI S.A. amounted to PLN 41,224 million and were higher by PLN 9,035 million, i.e. 28.1% compared to the end of December 2024, thanks to both higher valuation and high net sales of investment funds in 2025 at the level of PLN 5.6 billion. Amounts due to customers by currency (*) 31.12.2025 31.12.2024 CHANGE PLN MILLION STRUCTURE PLN MILLION STRUCTURE Denominated in PLN 225,287 83.9% 215,937 83.4% 4.3% Denominated in foreign currencies 43,176 16.1% 43,097 16.6% 0.2% Total 268,463 100.0% 259,034 100.0% 3.6% (*) Including interest and amounts due in transit and excluding repo transactions and lease liabilities. The bulk of the amounts due to customers are denominated in the Polish currency and its share as at the end of December 2025 amounted to 83.9%. The majority of amounts due to customers denominated in foreign currencies were in EUR (65.3%) and USD (28.4%).
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68 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Amounts due to customers by contractual maturities (*) 31.12.2025 31.12.2024 CHANGE PLN MILLION STRUCTURE PLN MILLION STRUCTURE Current accounts and overnight deposits 203,209 75.9% 186,918 72.4% 8.7% Term deposits 64,580 24.1% 71,109 27.6% (9.2%) Total deposits 267,789 100.0% 258,027 100.0% 3.8% Interest accrued 353 x 638 x (44.7%) Funds in transit 321 x 369 x (12.7%) Total 268,463 x 259,034 x 3.6% (*) Excluding repo transactions and lease liabilities. Provisions, deferred tax assets and liabilities (in PLN million) 31.12.2025 31.12.2024 CHANGE Total provisions 2,634 2,310 14.0% provisions for off-balance sheet commitments and guarantees given 350 477 (26.6%) provisons for defined benefit plans 319 313 2.0% other provisions 1,965 1,520 29.3% Deferred tax liabilities 21 18 15.1% Deferred tax assets 1,426 1,343 6.2% Off–balance sheet items Bank Pekao S.A. Group - Statement of Off-balance sheet items (in PLN million) 31.12.2025 31.12.2024 CHANGE Contingent liabilities granted and received 117,632 108,023 8.9% Liabilities granted: 78,764 72,994 7.9% financial 65,097 62,149 4.7% guarantees 13,667 10,845 26.0% Liabilities received: 38,868 35,029 11.0% financial 338 1,396 (75.8%) guarantees 38,530 33,633 14.6% Derivative financial instruments 520,790 457,320 13.9% interest rate transactions 409,299 363,619 12.6% transactions in foreign currency and in gold 104,029 86,882 19.7% transactions based on commodities and equity securities 7,462 6,819 9.4% Total off-balance sheet items 638,422 565,342 12.9% Information on off-balance-sheet items is included in the Notes 40 to the Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 202 5.
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69 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 10. Separate Statement of Financial Position and Financial Results Separate income statement containing cumulated items for the period from 1 January to 31 December, 202 5 and 202 4 respectively is presented in the Separate Financial Statements of Bank Pekao S.A. for the period ended on 31 December 2025. Below presented statement of financial position in a short form and income statement in a presentation form as well as the key, selected items from these statements are discussed. 10.1 The Separate income statement – presentation form In 2025, the net profit of Bank Pekao S.A. amounted to PLN 6,922 million, which was higher by PLN 497 million, i.e. 7.7% compared to the result achieved in 2024. This was the highest result achieved in the Bank's operations to date. The results of 2025 include the establishment of provisions for matters related to consumer protection in the amount of PLN - 201 million net, higher by PLN 149 million y/y, and revaluation of deferred tax assets, with a positive impact on net profit in the amount of PLN 179 million. (in PLN million) 2025 2024 CHANGE Net interest income 13,233 12,351 7.1% Net fee and commission income 2,526 2,298 9.9% Dividend,income 291 231 26.0% Trading result 453 426 6.3% Net other operating income and expenses (185) (16) > 100% Net non-interest income 3,085 2,939 5.0% Operating income 16,318 15,290 6.7% Operating costs (5,083) (4,794) 6.0% Gross operating profit 11,235 10,496 7.0% Net allowances for expected credit losses (606) (638) (5.0%) Costs of legal risk of foreign currency mortgage loans (648) (618) 4.9% Net operating profit 9,981 9,240 8.0% Contributions to the Bank Guarantee Fund (381) (237) 60.8% Tax on certain financial institutions (861) (898) (4.1%) Profit before tax 8,739 8,105 7.8% Income tax expense (1,817) (1,680) 8.2% Net profit 6,922 6,425 7.7% Operating income In 2025, the Bank’s operating income amounted to PLN 16,318 million and was higher by 6.7% than in 2024, mainly due to net interest income and net fee and commission income, which was driven by volume increases and increased customer activity. Total net interest income (in PLN million) 2025 2024 CHANGE Interest income and similar to interest 18,135 17,708 2.4% Interest expense (4,902) (5,357) (8.5%) Net interest income 13,233 12,351 7.1% Net interest income generated in 2025 amounted to PLN 13,233 million and was higher by PLN 882 million, i.e. 7.1%, compared to the result achieved in 2024, mainly due to higher volumes, especially in strategic product areas and higher interest margi n, with continued high liquidity and lower costs of deposits. The 2024 results include the costs of credit holidays in the amount of PLN 150 million.
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70 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Interest income and similar to interest Interest and similar income in 2025 amounted to PLN 18,135 million and were higher by PLN 427 million y/y thanks to higher volumes, especially in the strategic areas of cash loans, growing by over 13% y/y, corporate loans from the MID and SME segments, als o growing by more than 13% y/y. The 2024 results include the costs of credit holidays in the amount of PLN 150 million. Interest expense Interest expense in 2025 amounted to PLN 4,902 million and was lower by PLN 455 million y/y, despite higher volumes of liabilities to customers and from the issue of debt securities. Net interest margin The net interest margin achieved in 2025 amounted to 4.2% and remained at the level recorded in 2024, excluding the costs of credit holidays, despite lower interest rates. Net non-interest income (in PLN million) 2025 2024 CHANGE Fee and commission income 3,507 3,244 8.1% Fee and commission expense (981) (946) 3.7% Net fee and commission income 2,526 2,298 9.9% Dividend income 291 231 26.0% Trading result 453 426 6.3% Net other operating income and expense (185) (16) >100% Net non-interest income 3,085 2,939 5.0% Net fee and commission income generated in 2025 amounted to PLN 2,526 million and was higher by PLN 228 million, i.e. 9.9% compared to the result achieved in 2024, thanks to increases in all areas of the Bank's operations, which was driven by growing customer activity and favourable situation on the capital markets. The Net non-interest income in 2025 amounted to PLN 3,085 million and was higher by PLN 146 million, i.e. 5.0% compared to the result achieved last year, due to the higher net fee and commission income. Other operating income and expenses lower y/y, mainly due to the establishment of provisions for consumer protection matters in the amount of PLN -201 million. 1 098 1 131 1 160 1 152 1 101 1 078 968 820 117 125 129 148 142 148 161 178 83 70 77 67 68 85 89 64 I q '24 II q '24 III q '24 IV q '24 I q '25 II q '25 III q '25 IV q '25 deposits debt securities other (including repo transactions and banks) 1 311 1 311 1 218 1 062 1 298 1 366 1 3671 326
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71 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 The table below presents the Bank’s net fee and commission income divided according to the main areas of the activity. (in PLN million) 2025 2024 CHANGE Net fee and commission income 2,526 2,298 9.9% on loans 523 523 0.1% on cards 342 308 10.8% on mutual funds 146 117 25.0% on brokerage activate 172 141 22.1% on margins on foreign exchange transactions with clients 752 707 6.3% other 591 502 17.9% Operating costs Operating expenses in 2025 amounted to PLN 5,083 million and were higher by PLN 289 million, i.e. 6.0% compared to 2024. supporting business growth, with the cost of salaries and other employee benefits at the level of the previous year, thanks to the launch of the voluntary redundancy program at the end of 2024. (in PLN million) 2025 2024 CHANGE Personnel expenses (2,896) (2,889) 0.2% General administrative expenses and depreciation (2,187) (1,905) 14.8% Operating costs (5,083) (4,794) 6.0% The cost/income ratio (including BFG contributions) in 2025 was 33.5% compared to 32.9% in 2024. Contributions to the Bank Guarantee Fund Bank Guarantee Fund in 2025 amounted to PLN 381 million and were higher by PLN 144 million, i.e. 60.8% than in 2024, due to the restoration of contributions to the Bank Guarantee Fund, which had not been collected for the last two years, and an increase in the volume of guaranteed funds. Tax on certain financial institutions The tax on certain financial institutions in 2025 amounted to PLN 861 million and was lower by PLN 37 million, i.e. 4.1% than in 2024. Net allowances for expected credit losses and cost of risk (in PLN million) 2025 2024 CHANGE financial assets measured at amortized cost (617) (686) (10.1%) financial assets measured at fair value through other comprehensive income (11) 20 x financial liabilities measured at amortized cost 151 28 > 100% Net allowances for expected credit losses (606) (638) (5.0%) Costs of legal risk of foreign currency mortgage loans (648) (618) 4.9% The net allowances for expected credit losses in the 2025 amounted to PLN 606 million and were lower by PLN 32 million, i.e. 5.0% than in the 2024. The Bank’s cost of risk in 202 5 amounted to 0.34%, which is 0.04 p.p. was lower than the previous year and is in line with the strategic assumptions and the adopted risk appetite.
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72 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 10.2 Structure of the separate statement of financial position – short form The table below presents the Bank’s statement of financial position – short form. ASSETS 31.12.2025 31.12.2024 CHANGE PLN MILLION STRUCTURE PLN MILLION STRUCTURE Cash and due from Central Bank (*) 12,031 3.6% 14,245 4.5% (15.5%) Loans and advances to banks 1,006 0.3% 379 0.1% > 100% Loans and advances to customers (**) 179,485 53.1% 165,435 51.8% 8.5% Reverse repo transactions 4,715 1.4% 4,685 1.5% 0.6% Securities (**) 125,092 37.0% 121,133 37.9% 3.3% Investments in subsidiaries 2,232 0.7% 1,922 0.6% 16.1% Investments in associates 42 0.0% 42 0.0% x Property. plant and equipment and intangible assets 3,859 1.1% 3,575 1.1% 8.0% Other assets 9,396 2.8% 7,834 2.5% 19.9% Total assets 337,858 100.0% 319,251 100.0% 5.8% (*) Cash and cash equivalents include cash in hand, amounts due from the National Bank of Poland, as well as amounts due from banks with a maturity of up to 3 months. (**) Including non-treasury debt securities. (***) Including financial assets held for trading, other financial instruments at fair value through profit and loss and excluding non-treasury debt securities. EQUITY AND LIABILITIES 31.12.2025 31.12.2024 CHANGE PLN MILLION STRUCTURE PLN MILLION STRUCTURE Amounts due to other banks 1,913 0.6% 2,300 0.7% (16.8%) Amounts due to customers 268,834 79.6% 259,523 81.3% 3.6% Debt securities issued 10,006 3.0% 6,542 2.0% 53.0% Subordinated liabilities 5,642 1.7% 2,782 0.9% > 100% Repo transactions 1,089 0.3% 1,000 0.3% 8.9% Other liabilities 15,519 4.6% 15,588 4.7% (0.4%) Equity 34,855 10.3% 31,516 9.9% 10.6% Total equity and liabilities 337,858 100.0% 319,251 100.0% 5.8% Assets Changes in the structure of assets Loans and advances to customers and securities represent items of the largest value under assets. As at the end of 202 5, they accounted for 53.1 and 37.0% of the total assets respectively in comparison with 51.8% and 37.9% respectively as at the end of 2024. Customers’ Financing Customer structure of loans and advances (in PLN million) 31.12.2025 31.12.2024 CHANGE Loans and advances at nominal value (*) 183,741 169,262 8.6% Loans and investments in financial leases 166,845 153,251 8.9% Retail 84,724 81,181 4.4% Corporate 82,121 72,070 13.9% Non-treasury debt securities 16,896 16,011 5.5% Other (**) 1,552 1,541 0.7% Impairment allowances (5,808) (5,368) 8.2% Total net receivables 179,485 165,435 8.5% Reverse repo transactions 4,706 4,674 0.7% Total Customers’ financing (***) 188,447 173,936 8.3% (*) Excluding reverse repo transactions. (**) Including interest and receivables in transit. (***) Total customers’ financing includes loans and advances at nominal value, securities issued by non-monetary entities and reverse repo transactions.
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73 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 As at the end of December 202 5, loans and advances at nominal value amounted PLN 183,741 million and were higher by PLN 14,479 million, i.e. 8.6%, than at the end of December 2024. As at the end of December 2025, the volume of retail loans amounted to PLN 84,724 million and were higher by PLN 3,543 million, i.e. 4.4% than at the end of December 2024, thanks to the sale of cash loans higher by 17.3% y/y, which allowed for an increase in volumes by 13.1% y/y and sales of mortgage loans at the level of PLN 10,8 billion, which allowed for an increase in volumes by 2.8% y/y. As at the end of December 2025, corporate loans and non-treasury debt securities amounted to PLN 99,017 million and were higher by PLN 10,936 million, i.e. 12.4%, compared to the end of December 2024, mainly due to a strong increase in corporate loans in the MID and SME segments by 13.1% y/y and loans to large enterprises by 11.4% y/y, with the acquisition of over 3.8 thousand new customers and an enriched product offer. Receivables and impairment losses(*) (in PLN million) 31.12.2025 31.12.2024 CHANGE Gross receivables 185,293 170,803 8.5% Stage 1 160,019 145,634 9.9% Stage 2 17,910 18,645 (3.9%) Stage 3 7,364 6,524 12.9% Impairment allowances (5,808) (5,368) 8.2% Stage 1 (722) (651) 10.9% Stage 2 (550) (849) (35.2%) Stage 3 (4,536) (3,868) 17.3% Total net receivables 179,485 165,435 8.5% (*) Including non-treasury debt securities, interest and receivables in transit and excluding reverse repo transactions. As at the end of December 2025 the ratio of impaired receivables (stage 3) to the gross receivables amounted to 4.0%. Loans and advances to customers by currency (*) 31.12.2025 31.12.2024 CHANGE PLN MILLION STRUCTURE PLN MILLION STRUCTURE Denominated in PLN 153,134 82.6% 140,149 82.1% 9.3% Denominated in foreign currencies(**) 32,159 17.4% 30,654 17.9% 4.9% Total 185,293 100.0% 170,803 100.0% 8.5% Impairment allowances (5,808) x (5,368) x 8.2% Total net receivables 179,485 x 165,435 x 8.5% (*) Including non-treasury debt securities, interest and receivables in transit and excluding reverse repo transactions. (**) Including indexed loans. The currency structure of loans and advances to customers is dominated by amounts expressed in the Polish złoty, as at the end of December 2025, their share was 82.6%. The largest portion of foreign currency loans and advances to customers were represented by those denominated in EUR (92.6%), and USD (5.1%). Loans and advances to customers by contractual maturities (*) 31.12.2025 31.12.2024 CHANGE PLN MILLION STRUCTURE PLN MILLION STRUCTURE Current and up to 1 month 22,314 12.0% 20,508 12.0% 8.8% 1 to 3 months 5,377 2.9% 5,624 3.3% (4.4%) 3 months to 1 year 17,361 9.4% 16,519 9.7% 5.1% 1 to 5 years 61,556 33.2% 55,834 32.7% 10.2% Over 5 years 73,944 39.9% 68,332 40.0% 8.2% Past due 3,189 1.7% 2,446 1.4% 30.4% Other 1,552 0.8% 1,541 0.9% 0.7% Total 185,293 100.0% 170,803 100.0% 8.5% Impairment allowances (5,808) x (5,368) x 8.2% Total net receivables 179,485 x 165,435 x 8.5% (*) Including non-treasury debt securities, interest and receivables in transit and excluding reverse repo transactions.
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74 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 As at the end of December 2025, loans and advances with maturity over 5 years represents 39.9% of total loans and advances (mainly attributed to mortgage loans, investment loans, and non-treasury debt securities). Information on loan concentration is included in the Note 20 to the Separate Financial Statements of Bank Pekao S.A. for the year ended on 31 December 2025. Liabilities Changes in the structure of liabilities The largest part of the Bank's liabilities are funds obtained from customers. At the end of 2025, liabilities to customers, liabilities arising from the issuance of debt securities and subordinated liabilities amounted to PLN 284,482 million, and their share in the balance sheet total amounted to 84.2% (84.2% at the end of 2024). The share of equity in the balance sheet total was 10.3% at the end of 2025 (9.9% at the end of 2024). External sources of financing (in PLN million) 31.12.2025 31.12.2024 CHANGE Amounts due to other banks 1,913 2,300 (16.8%) Amounts due to customers 268,834 259,523 3.6% Debt securities issued 10,006 6,542 53.0% Subordinated liabilities 5,642 2,782 > 100% Repo transactions 1,089 1,000 8.9% Total external sources of financing 287,484 272,147 5.6% The deposit base is widely diversified and is sourced from retail and corporate customers. In addition, the Bank uses also funds borrowed on the interbank market. The Bank is not dependent on any single customer nor group of customers. Amounts due to customers and debt securities issued (in PLN million) 31.12.2025 31.12.2024 CHANGE Amounts due to customers (*) 268,834 259,523 3.6% Corporate deposits 113,677 109,671 3.7% Non-financial entities 79,943 79,708 0.3% Non-banking financial entities 11,826 9,791 20.8% Budget entities 21,908 20,172 8.6% Retail deposits 154,482 148,844 3.8% Other (**) 675 1,008 (33.0%) Repo transactions 1,089 1,000 8.9% Debt securities issued of which 10,006 6,542 53.0% Senior bonds 9,873 6,456 52.9% Interest 133 86 54.7% Investment funds of Pekao TFI S.A. (ex. Pioneer Pekao TFI) 41,224 32,189 28.1% including distributed through the Bank’s network 34,595 27,414 26.2% (*) Excluding repo transactions. (**) Other item includes interest and funds in transit. As at the end of December 2025, liabilities to the Bank's customers amounted to PLN 268,834 million and were higher by PLN 9,311 million, i.e. 3.6%, than at the end of December 2024. As at the end of December 2025, retail and other amounted to PLN 155,099 million and were higher by PLN 5,390 million, i.e. 3.6%, compared to the end of December 2024. Corporate and other amounted to PLN 113,735 million at the end of December 2025 and were higher at PLN 3,921 million, i.e. 3.6% compared to the end of December 2024. As at the end of December 2025, the net assets of investment funds managed by Pekao TFI S.A. amounted to PLN 41,224 million and were higher by PLN 9,035 million, i.e. 28.1%, compared to the end of December 2024, thanks to both higher valuation and high net sales of investment funds in 2025 at the level of PLN 5.6 billion.
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75 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Amounts due to customers by currency(*) 31.12.2025 31.12.2024 CHANGE PLN MILLION STRUCTURE PLN MILLION STRUCTURE Denominated in PLN 225,677 83.9% 216,466 83.4% 4.3% Denominated in foreign currencies 43,157 16.1% 43,057 16.6% 0.2% Total 268,834 100.0% 259,523 100.0% 3.6% (*) Including interest and amounts due in transit and excluding repo transactions and lease liabilities. The bulk of the amounts due to customers are denominated in the Polish currency and its share as at the end of December 2025 amounted to 83.9%. The majority of amounts due to customers denominated in foreign currencies were in EUR (65,3%) and USD (28.4%). Amounts due to customers by contractual maturities (*) 31.12.2025 31.12.2024 CHANGE PLN MILLION STRUCTURE PLN MILLION STRUCTURE Current accounts and overnight deposits 203,481 75.9% 187,107 72.4% 8.8% Term deposits 64,678 24.1% 71,408 27.6% (9.4%) Total deposits 268,159 100.0% 258,515 100.0% 3.7% Interest accrued 353 x 639 x (44.8%) Funds in transit 322 x 369 x (12.7%) Total 268,834 x 259,523 x 3.6% (*) Excluding repo transactions and lease liabilities. Provisions, deferred tax assets and liabilities (in PLN million) 31.12.2025 31.12.2024 CHANGE Total provisions 2,675 2,164 23,6% provisions for off-balance sheet commitments 403 519 (22,3%) provisions for liabilities to employees 314 306 2,6% other provisions 1 958 1 339 46,3% Deferred tax liabilities - - x Deferred tax assets 1 043 964 8,2% Off–balance sheet items (in PLN million) 31.12.2025 31.12.2024 CHANGE Contingent liabilities granted and received 140,170 131,323 6.7% Liabilities granted: 102,200 97,886 4.4% financial 66,798 66,185 0.9% guarantees 35,402 31,701 11.7% Liabilities received: 37,970 33,437 13.6% financial 169 541 (68.7%) guarantees 37,801 32,896 14.9% Derivative financial instruments 521,988 458,240 13.9% interest rate transactions 410,497 364,404 12.6% transactions in foreign currency and in gold 104,029 87,017 19.5% transactions based on commodities and equity securities 7,462 6,819 9.4% Total off-balance sheet items 662,158 589,563 12.3% Information on off-balance-sheet items is included in the Notes 39 to the Separate Financial Statements of Bank Pekao S.A. for the year ended on 31 December 2025.
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76 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 11. Other Information Information required pursuant to Art. 111a of the Banking Law Bank Pekao S.A. is a universal commercial bank providing a full range of banking services to individual and institutional clients in Poland. Bank Pekao S.A. Group includes financial institutions operating in banking, asset management, pension funds, brokerage services, transactional advisory, leasing and factoring markets. The Bank and all subsidiaries of the Bank, within a consolidated basis under article 4, section 1, point 48 of the Regulation No. 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms, run its activities on territory of Poland. As at the end of December 202 5, the number of full -time jobs in the Group was 14,839 compared to 15,101 as at the end of 2024. As at the end of December 2025, the number of full-time jobs in the Bank was 13,707 compared to 12,602 as at the end of 2024. In 2025, the Group’s operating income amounted to PLN 17,165 million, and was higher by 6.7% in comparison 2024. In 2025, the Bank’s operating income amounted to PLN 16,318 million, and was higher by 4.3% in comparison 2024. Profit before tax of Bank Pekao S.A. Group in 202 5 amounted to PLN 8, 961 million and was higher by PLN 838 million, in comparison to 202 4. Income tax expense in 202 5 amounted to PLN 1, 942 million vs. PLN 1, 744 million in 2024 and was higher by 11.4%. Profit before tax of Bank Pekao S.A. in 2025 amounted to PLN 8,379 million and was higher by PLN 634 million in comparison to 2024. Income tax expense in 2025 amounted to PLN 1,817 million vs. PLN 1,680 million in 2024 and was higher by 8.2%. As at the end of December 2025, the return on assets (ROA) of the Group was 2.1% vs. 2.0% at the end of December 2024. As at the end of December 2025, the return on assets (ROA) of the Bank was 2.1% vs. 2.1% at the end of December 2024. In 2025, the Bank do not conclude any agreements according to article 141t, section 1 of the Banking Law Act. Management Board position regarding the possibility of achieving previously published forecasts The Bank has not published the forecast of the financial results for 2025. Information on significant agreements In 2025, there have been no other significant agreements concluded by the Bank, in particular the Bank has not concluded material agreements with Central Bank or the competent supervision authorities. Management Board remunerations The amount of remunerations or benefits (in cash, payments in kind or in any form) paid or due to the Management Board Members in 2025. (in PLN thousand) NAME PERIOD BASE SALARY VARIABLE REMUNERATION(*) OTHER BENEFITS(**) Cezary Stypułkowski 01.01.2025 - 31.12.2025 1,539 100 17 Marcin Gadomski 01.01.2025 - 31.12.2025 1,487 1,317 37 Łukasz Januszewski 01.09.2025 - 31.12.2025 496 - 26 Michał Panowicz 01.09.2025 - 31.12.2025 496 - 96 Robert Sochacki 01.01.2025 - 31.12.2025 1,487 193 54 Błażej Szczecki 01.01.2025 - 31.12.2025 1,487 1,187 48 Dagmara Wojnar 01.01.2025 - 31.12.2025 1,487 185 64 Marcin Zygmanowski 01.01.2025 - 31.12.2025 1,487 66 57 (*) The variable remuneration includes cash bonuses paid in 2025 for the years 2021 and 2024 as well as phantom shares and benefits for the years 2020- 2023 resulting from the Variable Remuneration System. (**) Other benefits include: housing allowance, insurance policies, medical care, among others. The part of the variable remuneration in phantom shares due to the current Members of the Bank's Management Board as at 31 December 2025 and remaining in retention amounts to 12.3 thousand shares. The value of this part of the variable remuneration as at 31 Decemb er 2025 is PLN 2,515.4 thousand at the Bank's share price of PLN 205.1 as at 30 December 2025. Members of the Bank's Management Board did not receive any remuneration in any form in 202 5, nor do they have any receivables from the Bank's subsidiaries and associates.
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77 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Former Members of the Bank's Management Board remuneration The value of variable remuneration paid to former Members of the Bank's Management Board who ceased to perform their functions in the Bank's Management Board before 1 January 2025 amounted to PLN 8,519 thousand in 2025. The part of variable remuneration in phantom shares due to former Members of the Bank's Management Board who ceased to perform their functions in the Bank's Management Board before 1 January 2025 and the part of the variable remuneration in phantom shares remaining in retention amounts to 25.3 thousand shares. The value of this part of the variable remuneration as at 31 December 2025 is PLN 5,190.9 thousand according to the Bank's share price of PLN 205.1 as at 30 December 2025. Supervisory Board remunerations The amount of remunerations or benefits (in cash, payments in kind or in any form) paid or due to the Supervisory Board Members in 2025: (in PLN thousand) PERIOD TOTAL Bogdan Benczak 06.11.2025 - 31.12.2025 - Krzysztof Czeszejko-Sochacki 01.01.2025 - 31.12.2025 308 Diana Dębowczyk 06.11.2025 - 31.12.2025 46 Magdalena Dziewguć 01.01.2025 - 31.12.2025 304 Bartosz Grześkowiak 01.01.2025 - 31.12.2025 - Mariusz Jaszczyk 06.03.2025 - 31.12.2025 247 Andrzej Klesyk 06.03.2025 - 05.11.2025 76 Radosław Niedzielski 01.01.2025 - 05.11.2025 255 Jacek Nieścior 01.01.2025 - 31.12.2025 308 Artur Nowak-Far 01.01.2025 - 31.12.2025 308 Artur Olech 01.01.2025 - 05.03.2025 33 Witold Walkowiak 01.01.2025 - 31.12.2025 302 In 2025, the Supervisory Board Members did not receive nor are due any compensation from subsidiaries and associated entities of Bank Pekao S.A. Compensation for the Non-Competition after the termination of the Management Services Agreement The following Members of the Bank's Management Board: Mr. Cezary Stypułkowski - President of the Management, Mr. Marcin Gadomski - Vice President of the Management Board, Mr. Marcin Zygmanowski - Vice President of the Management Board, Mr. Robert Sochacki - Vice President of the Management Board, Mr. Błażej Szczecki - Vice President of the Management Board, Ms. Dagmara Wojnar - Vice President of the Management Board, Mr. Łukasz Januszewski - Vice President of the Management Board, Mr. Michał Panowicz - Vice President of the Management Board, in accordance with the provisions in the Management Services Agreement, are obliged to comply with the Competition Prohibition and not to conduct competitive activities during the term of the agreement and for the period specified in the agreement after its termination. In 2025, Ms. Magdalena Zmitrowicz – Vice President of the Management Board, was paid compensation under the Non - Competition Agreement after termination of the Management Services Agreement. Liabilities due to pensions for former supervisors and managers In 2025, there were no liabilities arising from pensions and benefits of a similar nature for former managing and supervising persons (the Bank's Management Board and the Supervisory Board). Shares in the Bank and related entities held by the Bank's Directors According to the information held by the Bank, as at 31 December 2025 and as at the date of publication of this report, the Bank's management and supervisory persons did not hold any shares in Bank Pekao S.A. ani shares in entities related to the Bank. Mr. Andrzej Klesyk, disclosed in the report for the third quarter of 2025 as holding the Bank's shares, did not hold any position in the Bank's bodies as at 31 December 2025, in connection with his resignation submitted in November 2025. Agreements with companies entitled to auditing of financial reports The Company auditing the financial statements of the Bank Pekao S.A. and Bank Pekao S.A. Group for the years 2024 -2028 is PricewaterhouseCoopers Polska Spółka z ograniczoną odpowiedzialnością Audyt Sp.k. based on the agreement of 28 June 2024 (together with subsequent annexes).
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78 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 The remuneration of the audit firm and its related entities for completed and planned services for the Bank Pekao S.A. Capital Group is presented in the table below: (in PLN thousand) 2025 2024 Audit of annual financial statements 3,837 3,495 Review of financial statements 493 476 Other attestation services, including sustainability reporting attestation 1,179 1,121 Tax advisory services 0 0 Other services 1,613 545 Total 7,122 5,637 The amounts above do not include value added tax (VAT). The remuneration of the audit firm and its related entities for completed and planned services for Bank Pekao S.A. is presented in the table below: (in PLN thousand) 2025 2024 Audit of annual financial statements 2,295 2,089 Review of financial statements 493 476 Other attestation services, including sustainability reporting attestation 1,142 1,096 Tax advisory services 0 0 Other services 1,325 257 Total 5,255 3,918 The amounts above do not include value added tax (VAT). Average interest rates in Bank Pekao S.A. in 2025 The average nominal interest rates for the basic types of PLN deposits for non -financial sector residents: PLN retail deposits 1.5 p.a. PLN corporate clients deposits 1.9 p.a The average nominal interest rates for the PLN loans for non-financial sector residents: Total retail loans 8.1% p.a. mortgage 7.3% p.a. consumption 11.0% p.a. other 10.9% p.a. Corporate loans 7.0% p.a. Number and value of titles of execution and value of collaterals Bank Pekao S.A. has established specific policy with regard to collateral accepted to secure loans and guarantees. This policy is reflected under internal rules and regulations in the Bank. The type of collateral and its value are carefully analyzed an d chosen regarding the particular risk of the secured transaction. The Bank obeys the rule, according to which the value of collateral should relate directly to the value of secured liability, that is cash provided by the Bank to a client (capital or the amount of off-balance sheet commitments granted by the Bank) together with extraneous amounts due, for example, interest or commissions. In order to hedge risk related to lending activities the Bank accepts legal collateral under the Civil Code, the law on bills of exchange or resulting from the habits adopted in domestic or foreign trade, i.e. bank guarantees, guarantee under the Civil Code, blank of promissory notes, aval, transfer of debts, mortgages, registered pledges, pledges, assignment as collateral, transfer of assets in bank account, blockade assets on client’s account. For corporate clients, the total value of the collateral for impaired transactions as at 31 December, 202 5 amounted to PLN 1,113 million. For retail clients, the total value of the collateral for impaired transactions as at 31 December, 2025 amounted to PLN 557 million. Information on derivative financial instruments and hedge accounting Information on derivative financial instruments and hedge accounting is included in Note 28 and 31 to the Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025.
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79 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Pending litigations Information on significant legal proceedings pending before courts, arbitration bodies or public administration authorities in respect of liabilities and receivables of the Bank and its subsidiaries is included in Note 40 to the Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 202 5. Related party transactions In the 2025, the Bank and its subsidiaries have not concluded any significant transactions (single or aggregate) with related entities other than those executed on arm’s length. In the 2025, the Bank and its subsidiaries did not provide any sureties in respect of loans or advances or did not provide any guarantees to an entity or a subsidiary of such entity, which the total value would be significant. Detailed information on related party transactions is included in Note 44 to the Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025. Seasonality or cyclical nature of the Bank’s activity The demand for the financial services offered by the Bank is stable with no material impact of seasonal changes. Due to the nature of the Bank’s activity, it is not subject to seasonal or cyclical changes. Activities of other companies of the Bank P ekao S.A. Capital Group also does not show significant seasonal or cyclical characteristics. Accounting principles adopted in the preparation of the report Accounting principles adopted in the preparation of the report are described in Note 4 to the Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025. Issuance, redemption and repayment of debt securities Senior bonds On July 28, 2023, the Bank issued senior non-preferred bonds with a maturity of 4 years and the total nominal value amounted to PLN 0.35 billion (“SNP bonds”). The SNP bonds have an option giving the Bank the right to early redemption of the bonds within 2 years from the date of issue, subject to the approval of the Bank Guarantee Fund. The SNP bonds will constitute eligible liabilities of the Bank within the meaning of Article 97a (1) pt. 2 ) of the Act on the Bank Guarantee Fund, Deposit Guarantee System and Forced Restructuring of 10 June 2016. The bonds were admitted to trading on the alternative trading system Catalyst operated by the Warsaw Stock Exchange S.A. On November 23, 2023, the Bank issued senior non -preferred eurobonds (“SNP eurobonds”) with a maturity of 4 years and the total nominal value amounted to EUR 0.5 billion. The SNP bonds have an option giving the Bank the right to early redemption of the bonds within 4 years from the date of issue, subject to the approval of the Bank Guarantee Fund. The SNP eurobonds will constitute eligible liabilities of the Bank within the meaning of Article 97a (1) pt. 2) of the Act on the Ban k Guarantee Fund, Deposit Gua rantee System and Forced Restructuring of 10 June 2016. The SNP eurobonds were issued under the Euro Medium Term Note Programme ("EMTN Programme") and were admitted to trading on the regulated market of the Luxembourg Stock Exchange and the Warsaw Stock Exchange S.A. On April 26, 2024, the Bank issued senior non-preferred bonds with a maturity of 5 years and the total nominal value amounted to PLN 0.5 billion. The SNP bonds have an option giving the Bank the right to early redemption of the bonds within 4 years or 4,5 years from the date of issue, subject to the approval of the Bank Guarantee Fund. The SNP bonds will constitute eligible liabilities of the Bank within the meaning of Article 97a (1) pt. 2) of the Act on the Bank Guarantee Fund, Deposit Guarantee System and Forced Rest ructuring of 10 June 2016. The bonds were admitted to trading on the alternative trading system Catalyst operated by the Warsaw Stock Exchange S.A. On 18 June 2024 the Management Board of the Bank adopted a resolution to use the option of early redemption of senior preffered bonds issued by Bank on 28 July 2023 with a total nominal value of PLN 0.75 billion. The early redemption took place on 28 July 2024 and in accordance with the regulations of the Central Securities Depository of Poland (KDPW). On July 30, 2024, the Bank issued senior preferred bonds (“SP bonds”) with a maturity of 2,5 years and the total nominal value amounted to PLN 0.6 billion. The SP bonds have an option giving the Bank the right to early redemption of the bonds within 1,5 or 2 years from the date of issue, subject to the approval of the Bank Guarantee Fund. The SP bonds will constitute eligible liabilities of the Bank within the meaning of Article 97a (1) pt. 2) of the Act on the Bank Guarantee Fund, Deposit Guarantee System and Forced Restructuring of 10 June 2016. The bonds were admitted to trading on the alternative trading system Catalyst operated by the Warsaw Stock Exchange S.A. On September 24, 2024, the Bank issued senior non -preferred eurobonds with a maturity of 6 years and the total nominal value amounted to EUR 0.5 billion. The SNP eurobonds have an option giving the Bank the right to early redemption of the bonds within 5 y ears from the date of issue, subject to the approval of the Bank Guarantee Fund. The SNP eurobonds will constitute eligible liabilities of the Bank within the meaning of Article 97a (1) pt. 2) of the Act on the Bank Guarantee Fun d, Deposit Guarantee System and Forced Restructuring of 10 June 2016. The SNP eurobonds were issued under the EMTN Programme and were admitted to trading on the regulated market of the Luxembourg Stock Exchange and on the regulated market of the Warsaw Stock Exchange S.A.
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80 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 On 4 March 2025 the Management Board of the Bank adopted a resolution to use the option of early redemption of senior non- preffered bonds issued by Bank on 3 April 2023 with a total nominal value of PLN 0.75 billion. The early redemption took place on 3 April 2025 and in accordance with the regulations of the Central Securities Depository of Poland (KDPW). On June 4, 2025, the Bank issued senior non -preferred eurobonds with a maturity of 6 years and the total nominal value amounted to EUR 0.5 billion. The SNP eurobonds have an option giving the Bank the right to early redemption of the bonds within 5 years from the date of issue, subject to the approval of the Bank Guarantee Fund. The SNP eurobonds will constitute eligible liabilities of the Bank within the meaning of Article 97a (1) pt. 2) of the Act on the Bank Guarantee Fund, Deposit Guarantee System and Forced Restructuring of 10 June 2016. The SNP eurobonds were issued under the EMTN Programme and were admitted to trading on the regulated market of the Luxembourg Stock Exchange and on the regulated market of the Warsaw Stock Exchange S.A. On September 23, 2025, the Bank issued green senior preferred eurobonds with a maturity of 7 years and the total nominal value amounted to EUR 0.5 billion. The SP eurobonds have an option giving the Bank the right to early redemption of the bonds within 6 years from the date of issue, subject to the approval of the Bank Guarantee Fund. The SP eurobonds will constitute eligible liabilities of the Bank within the meaning of Article 97a (1) pt. 2) of the Act on the Bank Guarantee Fun d, Deposit Guarantee System and Forced Restructuring of 10 June 2016. The SP eurobonds were issued under the EMTN Programme and were admitted to trading on the regulated market of the Luxembourg Stock Exchange and on the regulated market of the Warsaw Stock Exchange S.A. Subordinated bonds On 30 October 2017 the Bank issued 10 years subordinated bonds with a total nominal value of PLN 1.25 billion. The funds from the issue were designated – after receiving the approval of the Polish Financial Supervision Authority on 21 December 2017 – to increase the Bank's Tier II capital pursuant to art. 127 para. 2 point 2 of the Banking Law and art. 63 of Regulation No. 575/2013 of the European Parliament and of the Council of 26 June 2013 . The bonds were admitted to trading on the alternative trading system Catalyst operated by the Warsaw Stock Exchange S.A. On 15 October 2018 the Bank issued 10 years subordinated bonds with a total nominal value of PLN 0.55 billion. The funds from the issue were designated – after receiving the approval of the Polish Financial Supervision Authority on 16 November 2018 – to increase the Bank's Tier II capital pursuant to art. 127 para. 2 point 2 of the Banking Law and art. 63 of Regulation No. 575/2013 of the European Parliament and of the Council of 26 June 2013 . The bonds were admitted to trading on the alternative trading system Catalyst operated by the Warsaw Stock Exchange S.A. On 15 October 2018 the Bank issued 15 years subordinated bonds with a total nominal value of PLN 0.20 billion. The funds from the issue were designated – after receiving the approval of the Polish Financial Supervision Authority on 18 October 2018 – to increase the Bank's Tier II capital pursuant to art. 127 para. 2 point 2 of the Banking Law and art. 63 of Regulation No. 575/2013 of the European Parliament and of the Council of 26 June 2013. The bonds were admitted to trading on the alternative trading system Catalyst operated by the Warsaw Stock Exchange S.A. On 4 June 2019 the Bank issued 12 years subordinated bonds with a total nominal value of PLN 0.35 billion. The funds from the issue were designated – after receiving the approval of the Polish Financial Supervision Authority on 8 July 2019 – to increase the Bank's Tier II capital pursuant to art. 127 para. 2 point 2 of the Banking Law and art. 63 of Regulation No. 575/2013 of the European Parliament and of the Council of 26 June 2013. The bonds were admitted to trading on the alternative trading system Catalyst operated by the Warsaw Stock Exchange S.A. On 4 December 2019 the Bank issued 12 years subordinated bonds with a total nominal value of PLN 0.40 billion. The funds from the issue were designated – after receiving the approval of the Polish Financial Supervision Authority on 10 December 2019 – to increase the Bank's Tier II capital pursuant to art. 127 para. 2 point 2 of the Banking Law and art. 63 of Regulation No. 575/2013 of the European Parliament and of the Council of 26 June 2013 . The bonds were admitted to trading on the alternative trading system Catalyst operated by the Warsaw Stock Exchange S.A. On 3 August 2022 the Management Board of the Bank adopted a resolution not to use the option of early redemption of subordinated bond issued by Bank on 30 October 2017 with a total nominal value of PLN 1.25 billion. On 29 August 2023 the Management Board of the Bank adopted a resolution not to use the option of early redemption of subordinated bond issued by Bank on 15 October 2018 with a total nominal value of PLN 0.55 billion. On 4 April 2025 the Bank issued 10 years subordinated bonds with a total nominal value of PLN 0.75 billion. The funds from the issue were designated – after receiving the approval of the Polish Financial Supervision Authority on 23 April 2025 – to increase the Bank's Tier II capital pursuant to art. 127 para. 2 point 2 of the Banking Law and art. 63 of Regulation No. 575/2013 of the European Parliament and of the Council of 26 June 2013. The bonds were admitted to trading on the alternative trading system Catalyst operated by the Warsaw Stock Exchange S.A. On 27 November 2025 the Bank issued subordinated bonds with a maturity of 10 years and 3 months, with a total nominal value of EUR 0.5 billion. The funds from the issue will be designated – after receiving the approval of the Polish Financial Supervision Authority – to increase the Bank's Tier II capital pursuant to art. 127 para. 2 point 2 of the Banking Law and art.
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81 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 63 of Regulation No. 575/2013 of the European Parliament and of the Council of 26 June 2013. The bonds were issued under the EMTN Programme and were admitted to trading on the regulated market of the Luxembourg Stock Exchange and on the regulated market of the Warsaw Stock Exchange S.A. Pekao Bank Hipoteczny S.A. covered bonds The total value of the company’s liabilities due to covered bonds amounted to PLN 1,428 million (principal value) as at the end of December 2025. Liabilities from covered bonds with maturity, up to 3 months account for 1%, up to 6 months account for 9%, up to 1 year account for 4%, up to 3 years account for 18%, up to 5 years account for 30%, up to 10 years account for 16%, total nominal value. Pekao Bank Hipoteczny S.A. bonds The total value of the company’s liabilities under bonds amounted to PLN 565 million (principal value) as at the end of December 2025 with maturity, up to 3 months account for 57%, up to 6 months account for 43%, total nominal value. Pekao Leasing Sp. z o.o. bonds The total value of the company’s liabilities under bonds amounted to PLN 3,490 million (principal value) as at the end of December 2025 with maturity date up to 3 months account for 25%, up to 6 months account for 27%, up to 1 year for 19%, up to 2 years for 29%. Pekao Faktoring Sp. z o.o. bonds The total value of the company’s liabilities under bonds with maturity date to 3 months amounted to PLN 4,119 million (principal value) as at the end of December 2025. Subsequent events Significant events that occurred after the date of preparation of the report and were not included in the Report are available at: Reports - Investor relations - Bank Pekao S.A.
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82 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 12. Statement of Bank Polska Kasa Opieki Spółka Akcyjna on the application of corporate governance principles in 2025 Pursuant to § 72(7)(5)(a) and (b) of the Regulation of the Minister of Finance of 6 June 2025 on current and periodic information provided by issuers of securities and conditions for recognising as equivalent information required by the laws of a non-member state3 (hereinafter the “Regulation of the Minister of Finance of 6 June 2025”), Bank Polska Kasa Opieki Spółka Akcyjna (hereinafter the “Bank”) declares that it adheres to the corporate governance principles listed below, which include principl es adopted voluntarily and practices in the area of corporate governance that go beyond the requirements specified by national law.4 The corporate governance principles applied by the Bank, i.e., the system of regulations and procedures defining guidelines for the actions of the Bank’s bodies, including towards external entities interested in its activities (stakeholders), are ba sed on generally applicable legal provisions, particularly the Commercial Companies Code and the Banking Law Act, as well as regulations governing the capital market, and the principles outlined in the following documents: “Best Practice for WSE Listed Companies 2021,” the Corporate Governance Principles for Supervised Institutions issued by the Financial Supervision Authority (KNF) on 22 July 2014 and the “Code of Banking Ethics of the Polish Bank Association.” Best Practice for WSE Listed Companies 2021 In 2025, the Bank applied the corporate governance principles contained in the “Best Practice for WSE Listed Companies 2021”5 (“Best Practices 2021”) adopted by the Supervisory Board of the Warsaw Stock Exchange (WSE) by resolution no. 13/1834/2021 of 29 March 2021, with the exception of the following: 1. detailed principles: 2.1.; 2.2. “Best Practices 2021” regarding diversity policy, 2. detailed principle 2.4. “Best Practices 2021” regarding the transparency of voting by the management board and the supervisory board. In accordance with § 29(3) of the Rules of Procedure of the Warsaw Stock Exchange (WSE), by report no. 1/2021 of 4 August 2021, the Bank published an information report on the status of the application of the “Best Practices 2021,” where it included explanations for the non-application of the aforementioned detailed principles. By report no. 1/2022 of 15 June 2022, the Bank updated the information on the status of the application of the “Best Practices 2021,” taking into account the resolutions no. 32 and 34 adopted by the Bank’s Ordinary General Meeting. By report no. 1/2025 of 13 March 2025, the Bank updated the information on the status of the application of the “Best Practices 2021” through an update of the comment regarding the non -application of principles 2.1, 2.2, and 2.4. The update of the comments to principles 2.1 and 2.2 was driven by personnel changes in the composition of the Bank’s Management Board and Supervisory Board. Furthermore, in the Bank's opinion, the updated wording of the comment on the non -application of principle 2.4 adequately reflects the actual state of the Bank’s compliance with this principle. The Bank did not apply detailed principles 2.1. and 2.2. of the "Best Practices 2021," according to which, in terms of gender diversity, ensuring diversity in company bodies requires a minority share in a given body of no less than 30%. The Bank has an approved “Gender Equality and diversity policy with regard to the Bank's employees, including Members of the Supervisory Board, Members of the Management Board and persons holding key functions at Bank Polska Kasa Opieki Spółka Akcyjna” (he reinafter the “Policy”), which defines the goals and criteria for diversity, including those specified in the Best Practices 2021. The Policy was developed with consideration for the requirements arising from generally applicable regulations addressed to e ntities in the banking sector, as well as recommendations from regulatory and supervisory bodies overseeing this sector, particularly the recommendations contained in the joint guidelines of the European Banking Authority (EBA) and the European Securities and Markets Authority (ESMA) on assessing the suitability of members of the management body and persons holding key functions. According to these guidelines, the expected minimum representation of the underrepresented gender in the statutory bodies of the Bank should be specified in the Policy implemented by the Bank. This principle should, in principle, apply to both the Supervisory Board and the Management Board of the Bank, which has been reflected in the aforementioned Policy implemented in the Bank. Ad ditionally, the Ordinary General Meeting on 15 June 2022 clarified the Bank’s commitment to achieving a 30% minimum target for the representation of each gender on the Supervisory Board. The Bank will strive to meet this target at the earliest possible tim e, but not earlier than the expiration of the current term of the Supervisory Board. 3 Journal of Laws of 2025, item 755, as amended. 4 § 72(7)(5)(a) and (b) of the Regulation of the Minister of Finance of 6 June 2025. 5 The document is publicly available on the Warsaw Stock Exchange's website: https://www.gpw.pl/dobre-praktyki
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83 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 The Bank also did not apply detailed principle 2.4. of the “Best Practices 2021,” according to which voting by the supervisor y board and management board should be transparent, unless otherwise specified by law. The Bank shares the view of the Corporate Governance Committee of the WSE that all resolutions, regardless of the voting procedure, are adopted by the Management Board and Supervisory Board in a thorough and transparent manner, i.e., after due discussion and the expression of opinions by all members of the body, which is reflected in the minutes of the statutory body meetings. Therefore, both the Rules of Procedure of the Supervisory Board and the Rules of Procedure of the Management Board of the Bank generally provide for open voting, with only exceptions allowing for secret voting in cases specified by law or in other indicated situations: 1. The Rules of Procedure of the Supervisory Board specify the obligation of the Chairman to order a secret vote only in one case, namely at the request of at least one member of the Supervisory Board, as an exception to the rule of open voting (§ 11(8) of th e Rules of Procedure). The other provisions of the Rules of Procedure concerning secret voting have already been repealed or amended by the Supervisory Board. 2. The Rules of Procedure of the Management Board of the Bank stipulate that resolutions are adopted through open voting. As an exception to this rule, the Rules of Procedure specify that only in situations defined by law or in other justified cases, the President of the Management Board may order a secret vote (§ 8(2) of the Rules of Procedure). Due to the specific nature of the banking sector, the Bank believes that it is not possible to explicitly enumerate in legal provisions all situations where secret voting would be the optimal solution from the perspective of the Bank's corporate governance. Therefore, the Bank does not entirely exclude the possibility of ordering a secret vote in cases other than those specified by law. The Bank has limited this possibility to the aforementioned cases, considering this approach to be an optimal compromise between the call for full transparency in the Bank's decision -making process and the necessity to provide the members of the Management Board and the Supervisory Board with the flexibility to adapt their actions to exceptional circumstances. In 2025, there were two incidental breaches of the principles contained in the “Best Practices 2021”: 1. By report no. 2/2025, the Bank informed about an incidental breach of principle 4.9.1 of the “Best Practices 2021,” 2. By report no. 3/2025, the Bank informed about an incidental breach of principle 4.8 of the “Best Practices 2021.” The breach of the aforementioned principles resulted from the shareholders of the Bank submitting their candidates for members of the Bank’s Supervisory Board and the draft resolution for the Ordinary General Meeting too late. Reports regarding the aforementioned incidental breaches have been published and are available on the Bank's website 6. Corporate Governance Principles for Supervised Institutions In 2025, the Bank applied the Corporate Governance Principles for Supervised Institutions issued by the Polish Financial Supervision Authority (KNF) on 22 July 2014 7 (hereinafter the “Principles”), with the following exceptions: 1. the principles specified in § 54 and § 56 of Chapter 9 of the Principles do not apply to the Bank, as the Bank does not engage in activities in this area, 2. the principles specified in § 49(4) and § 52(2) of Chapter 8 of the Principles do not apply to the Bank, as the Bank has an internal audit unit and a compliance unit, 3. the principle specified in § 21(2) of Chapter 4 of the Principles was partially applied by the Bank. In relation to the principles specified in Chapter 9 of the Principles, in 2025, the Bank began providing portfolio managemen t services, which include one or more financial instruments. As a general rule, the Bank applies Chapter 9 of the Principles. However, the current Rules for the provision of portfolio management services only provide for the management of investment fund units, which, according to the Act on Trading in Financial Instruments, are financial instruments that are not classifie d as securities. Consequently, the principles specified in § 54 and § 56 of Chapter 9 of the Principles do not currently apply to the Bank. The principle specified in § 21(2) of the Principles, concerning the composition of the supervisory body, in relation to the Chairman of the Supervisory Board, was partially applied by the Bank. The selection of the Chairman of the Supervisory Board was based on criteria such as the knowledge and experience possessed, including in managing the work of a team, as well as skills that confirm the competence necessary for performing supervisory duties properly. In light of the above, the criterion of independence was waived. 6 https://www.pekao.com.pl/relacje-inwestorskie/raporty-i-sprawozdania/raporty.html?year=2025&category=ebi 7 The document is publicly available on the Polish Financial Supervision Authority (KNF) website: https://www.knf.gov.pl/dla_rynku/regulacje_i_praktyka/zasady_ladu_korporacyjnego
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84 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Ethical Principles Applicable to the Bank Code of Banking Ethics In 2025, the Bank applied the corporate governance principles contained in the Code of Banking Ethics (Principles of Good Banking Practice) of the Polish Bank Association. 8 The principles outlined in the Code of Banking Ethics apply to banks, employees, individuals or entities through which banks carry out banking activities. They serve as a guide for conducting business in an ethical manner and in accordance with good banking practices, and their adherence is an essential element in building trust in the banking sector and its reputation. Code of Conduct of the Pekao Group The Bank has adopted the Code of Conduct of the Pekao Group9 (hereinafter the “Code”), which is a document containing the key values and principles that apply in all areas of the Bank's operations, as well as its organizational culture and system of values. The Code also represents a commitment to act in accordance with the highest standards in relations with colleagues, partners, clients, and the broader environment. The Bank promotes initiative, collaboration beyond structures, and the courage to make responsible decisions – always with respect for ethics, integrity, and mutual respect. The principles of the Code include references to the values adopted by the Bank and highlight their role in shaping the organizational culture. The Code covers, among others, the following areas: 1. emphasis on the role of adhering to corporate governance principles as a key element of sustainable business operations, 2. environmental, social, and governance (ESG) aspects as important pillars of the Bank's strategy, 3. the Bank's management of ESG risks, including building a culture of ESG risk, 4. customer-centric culture, 5. ethical use of technology and innovation, including AI, 6. management of conflicts of interest, 7. anti-corruption measures, 8. reporting of irregularities, 9. ensuring transparent and ethical business relationships, and 10. the use of clear language in the Bank's daily operations. The Bank ensures that its actions comply with generally applicable legal regulations, the Bank's Articles of Association, internal regulations, market standards, and ethical norms. In accordance with § 72(7)(5)(c) – (m) of the aforementioned Regulation of the Minister of Finance of 6 June 2025, the Bank presents the following information: 1. Description of the main features of the internal control and risk management systems applied by the Bank in relation to the process of preparing financial statements and consolidated financial statements 10 The Management Board of the Bank is responsible for developing and implementing an independent, adequate, and effective Internal Control System, one of the objectives of which is to ensure the reliability of financial reporting . As part of the Internal Control System, the Bank distinguishes: 1) the control function, 2) an independent compliance unit, i.e. the Compliance Department, tasked with identifying, assessing, controlling, and monitoring the risk of non-compliance of the Bank's activities with legal regulations, internal regulations, and market standards, and providing reports in this regard, 3) an independent internal audit unit, i.e. the Internal Audit Department, tasked with examining and assessing, in an independent and objective manner, the adequacy and effectiveness of the risk management system and the Internal Control System, excluding its own activities within these systems. The Supervisory Board oversees the implementation and functioning of an adequate and effective Internal Control System. The Supervisory Board conducts an annual assessment of the adequacy and effectiveness of the Internal Control System, including an annual evaluation of the adequacy and effectiveness of the control function, the compliance unit, and the internal audit unit. 8 The document is publicly available on the website of the Polish Bank Association: https://zbp.pl/Dla-Bankow/Prawo-i-legislacja/Komisja-Etyki-Bankowej 9 https://www.pekao.com.pl/dam/jcr:b4ffe8b9-5464-4298-ae08-a5e6ecf54e61/25_12_Kodeks_postepowania_grupy_pekao_2025_A4.pdf 10 § 72(7)(5)(c) of the Regulation of the Minister of Finance of 6 June 2025.
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85 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 The Internal Control System in the process of preparing financial statements aims to ensure the accuracy, completeness, and proper recording of all economic transactions during a given period. To ensure the financial reporting process, the Bank has established accounting principles (policy) compliant with the requirements of International Financial Reporting Standards and other applicable regulations, a chart of accounts, detailed internal instructions specifying the rules for recording various types of economic transactions, as well as reporting systems. At the same time, the Bank continuously monitors changes in external regulations and conducts assessments of the potential impact of these changes on the accounting principles (policy) and reporting processes. The IT systems ensure the acquisition of clear and centralized data, confirming the entries in the accounting books, as well as ensuring the continuity of entries, the transfer of turnovers and balances, and the preparation of financial statements. The Bank has a formalized process for closing the books and preparing financial statements, which is carried out based on an established schedule that defines the actions and the units responsible for their execution. The Financial Division is responsible for preparing financial statements, periodic financial and supervisory reporting, and ensuring management information. The division is overseen by the Vice President of the Management Board of the Bank, and the involved individuals have the appropriate knowledge and experience in the respective areas. 2. Identification of shareholders holding, directly or indirectly, significant stakes in the Bank, along with the indication of the number of shares held by these entities, their percentage share in the share capital, the number of votes derived from them, an d their percentage share in the total number of votes at the general meeting 11 The main shareholders of the Bank since 7 June 2017 are: 1) Powszechny Zakład Ubezpieczeń S.A., holding 52,494,007 (fifty -two million four hundred ninety -four thousand seven) shares of the Bank, representing approximately 20% of the Bank's share capital and entitling the holder to 52,494,007 (fifty-two million four hundred ninety-four thousand seven) votes, representing approximately 20% of the total number of votes; and 2) Polski Fundusz Rozwoju S.A., holding 33,596,166 (thirty-three million five hundred ninety-six thousand one hundred sixty-six) shares of the Bank, representing approximately 12.8% of the Bank's share capital and entitling the holder to 33,596,166 (thirty -three million five hundred ninety -six thousand one hundred sixty -six) votes, representing approximately 12.8% of the total number of votes. Shareholders of the Bank holding, directly or indirectly through subsidiaries, at least 5% of the total number of votes at th e Bank's General Meeting: NAME OF SHAREHOLDER NUMBER OF SHARES AND VOTES AT THE GENERAL MEETING SHARE IN THE SHARE CAPITAL AND TOTAL NUMBER OF VOTES AT THE GENERAL MEETING NUMBER OF SHARES AND VOTES AT THE GENERAL MEETING SHARE IN THE SHARE CAPITAL AND TOTAL NUMBER OF VOTES AT THE GENERAL MEETING AS OF 31 DECEMBER 2025 AS OF 31 December 2024 Powszechny Zakład Ubezpieczeń S.A. 52,494,007 20.00% 52,494,007 20.00% Polski Fundusz Rozwoju S.A. 33,596,166 12.80% 33,596,166 12.80% Nationale-Nederlanden Otwarty Fundusz Emerytalny 14,701,415 5.60% 16,834,767 6.41% Allianz Polska Otwarty Fundusz Emerytalny 13,935,661 5.31% 14,140,661 5.39% Other shareholders (below 5%) 147,742,785 56.29% 145,404,433 55.40% Total 262,470,034 100.00% 262,470,034 100.00% 3. Indication of holders of any securities that grant special control rights, along with a description of those rights12 According to the Bank’s Articles of Association, all existing shares of the Bank are ordinary bearer shares. There is no differentiation of shares in terms of the rights associated with them. There are no special privileges or restrictions associ ated with the existing shares. The rights and obligations associated with the Bank’s shares result from generally applicable laws, particularly the provisions of the Commercial Companies Code. The securities issued by the Bank do not grant their holders any special control rights. 11 § 72(7)(5)(d) of the Regulation of the Minister of Finance of 6 June 2025. 12 § 72(7)(5)(e) of the Regulation of the Minister of Finance of 6 Junee 2025.
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86 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 4. Indication of any restrictions regarding the exercise of voting rights, such as limitations on the exercise of voting rights by holders of a specific part or number of votes, time restrictions regarding the exercise of voting rights, or provisions stating that the capital rights associated with the securities are separate from the ownership of the securities13 The Bank's Articles of Association do not foresee any restrictions on the exercise of voting rights from the Bank's shares (generally applicable laws may, in certain circumstances, limit the exercise of a shareholder's voting rights). 5. Indication of any restrictions concerning the transfer of ownership rights of the Bank’s securities 14 The Bank's Articles of Association do not contain any restrictions on the transfer of ownership rights of the Bank’s securities. (generally applicable laws may, in certain circumstances, impose restrictions on the transfer of ownership of the Bank's securities). 6. Description of the rules regarding the appointment and dismissal of management members, as well as their powers, particularly the authority to make decisions regarding the issuance or redemption of shares 15 According to the Articles of Association, the Management Board of the Bank consists of 5 to 9 members. Vice Presidents and Members of the Bank's Management Board are appointed and dismissed by the Supervisory Board, taking into account the assessment of su itability requirements. Members of the Management Board are appointed for a joint term of office, lasting three full financial years. Members of the Management Board are appointed after a qualification procedure, aimed at verifying and assessing the qualifications of candidates and selecting the best candidate. The Management Board of the Bank consists of: the President of the Management Board, the Vice Presidents of the Management Board, and the Members of the Management Board. Vice Presidents and Members of the Management Board are appointed and dismissed upon the request of the Supervisory Board. The appointment of the President of the Management Board and the Member of the Management Board responsible for managing significant risks in the Bank's operations, or the assignment of this function to an appointed me mber of the Management Board, takes place with the consent of the Polish Financial Supervisory Authority (KNF). The request for consent is submitted by the Supervisory Board. At least half of the members of the Bank's Management Board, including the President of the Management Board, should have a good knowledge of the banking market in Poland, by meeting the following criteria: 1) having professional experience in the Polish market, appropriate for the managerial position held in the Bank, 2) having a permanent place of residence in Poland, 3) proficiency in the Polish language. The Management Board of the Bank manages the affairs of the Bank and represents the Bank. It is the duty of each member of the Bank's Management Board to take actions aimed at promoting the interests of the Bank. Members of the Bank's Management Board must not undertake actions or make decisions that could result in a conflict of interest, be contrary to the interests of the Bank, or be incompatible with their official duties. A member of the Bank's Management Board is required to inform the Board of any situation in which a conflict of interest could arise or has arisen, and refrain from speaking in discussions or voting on resolutions concerning the matter in which the conflict of interest exists. Members of the Bank's Management Board are entitled to the powers granted by generally applicable law. The Bank’s Articles of Association do not foresee that the Management Board or its individual members have the right to make decisions regarding the issuance or redemption of shares. 7. Description of the rules for amending the Bank's Articles of Association 16 Amendment of the Bank's Articles of Association requires a resolution to be adopted by the Bank's General Meeting and the registration of the adopted amendment in the National Court Register. The Rules of Procedure for the General Meetings of the Bank17 specify the detailed rules for conducting meetings and adopting resolutions. Resolutions of the Bank's General Meeting regarding amendments to the Articles of Association are adopted by a three -quarter majority of votes. Furthermore, pursuant to Article 34(2) of the Banking Law, an amendment to the Bank's Articles of Association requires the approval of the Polish Financial Supervision Authority. 13 § 72(7)(5)(f) of the Regulation of the Minister of Finance of 6 June 2025. 14 § 72(7)(5)(g) of the Regulation of the Minister of Finance of 6 June 2025. 15 § 72(7)(5)(h) of the Regulation of the Minister of Finance of 6 June 2025. 16 § 72(7)(5)(i) of the Regulation of the Minister of Finance of 6 June 2025. 17 Introduced by General Meeting Resolution No. 19 of 8 April 2003, as amended.
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87 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 8. The way the General Meeting operates and its principal powers, as well as a description of the shareholders' rights and how they are exercised, particularly the rules arising from the rules of procedure of the General Meeting, if such rules have been adopted, unless this information is directly provided by the law 18 The Bank's General Meeting operates based on the Rules of Procedure for General Meetings of the Bank, introduced by Resolution No. 19 on 8 April 2003, amended by Resolution No. 41 on 5 May 2009, Resolution No. 41 on 1 June 2012, and Resolution No. 42 on 16 June 2016. The Rules of Procedure for General Meetings of the Bank specify the detailed rules for conducting meetings and adopting resolutions. The Rules of Procedure for General Meetings of the Bank are available on the Bank's website.19 The competences of the Bank's General Meeting, besides other matters listed in the law, particularly in the Commercial Companies Code, the Banking Law, recommendations from supervisory authorities, and the Bank's Articles of Association, include: 1) reviewing and approving the Bank's activity report and financial statements for the previous financial year, 2) adopting a resolution on the allocation of profit or covering the loss, 3) reviewing and approving the report on the activities of the Supervisory Board, 4) granting discharge to the members of the Supervisory Board and the Management Board for the execution of their duties, 5) reviewing and approving the activity report and financial statements of the Bank's Capital Group, 6) determining the dividend date and the dividend payment date, 7) sale and lease of the business or its organized part and establishing limited property rights on them, 8) amending the Bank's Articles of Association and determining its consolidated text, 9) increasing or decreasing the Bank's share capital, 10) issuing convertible bonds or bonds with pre-emptive rights to subscribe for shares and issuing subscription warrants, 11) redemption of shares and determining the conditions of such redemption, 12) merger, division or liquidation of the Bank, 13) creation and dissolution of special funds, 14) appointment and dismissal of members of the Supervisory Board, including the assessment of their suitability, 15) establishing remuneration policies for members of the Supervisory Board, 16) concluding an agreement with a subsidiary company that provides for the management of the subsidiary or the transfer of profit from such a company, 17) other matters within the scope of the Bank's activities presented for consideration at the General Meeting. The General Meeting of the Bank is convened by a notice published on the Bank's website and in a manner defined for the transmission of current information in accordance with regulations on public offerings and conditions for the introduction of financial instruments into organized trading systems, and regarding public companies. Notices are made at least twenty -six days before the General Meeting of the Bank. The Ordinary General Meeting of the Bank should be held once a year, no later than six months after the end of each financial year. When setting the date for the Bank's General Meeting, the Management Board of the Bank ensures that the possibility of participation in the General Meeting is made available to the widest possible circle of shareholders. In 2025, the Bank's General Meeting of Shareholders was held on 24 April 2025. Additionally, in 2025, three Extraordinary General Meetings were held: on 6 March 2025, 3 September 2025, and 6 November 2025. The Articles of Association allow participation in the General Meeting using electronic communication means if the Management Board of the Bank decides to allow it. The Management Board makes the decision referred to in the preceding sentence if the Bank meets the necessary technical conditions required for participation in the General Meeting using electronic communication, which include in particular: 1) real-time transmission of the General Meeting proceedings, 2) real-time two -way communication, through which shareholders can express their opinions during the General Meeting while being in a location other than the meeting venue, 3) exercising the voting rights personally or by proxy before or during the General Meeting. 18 § 72(7)(5)(j) of the Regulation of the Minister of Finance of 6 June 2025. 19 https://www.pekao.com.pl/o-banku/lad-korporacyjny.html
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88 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 According to the Bank's Articles of Association, in each case of convening the General Meeting, the Management Board specifies whether participation in the General Meeting via electronic communication is possible and what requirements and restrictions for such participation are necessary to identify shareholders and ensure the security of electronic communication. Detailed conditions for participation in the General Meeting using electronic communication are specified in the regulations adopted by the Gener al Meeting, the notice of convening the General Meeting, and the Regulations for Participation in the General Meeting of the company under the name Bank Polska Kasa Opieki Spółka Akcyjna with its registered office in Warsaw, using electronic communication, adopted by Resolution No. 94/21 of the Bank's Supervisory Board on 5 May 2021 regarding the adoption of the Regulations for Participation in the General Meeting of the Company using electronic communication. The Supervisory Board of the Bank may convene the Ordinary General Meeting of the Bank if the Management Board fails to do so within the period specified in the Articles of Association, and may also convene an Extraordinary General Meeting of the Bank if it deems it appropriate. The full documentation to be presented to the Bank's General Meeting, along with draft resolutions and information regarding the General Meeting, is made available to those entitled to participate in the General Meeting via the Bank's website and at the location specified in the notice convening the General Meeting, published in accordance with Article 402² of the Commercial Companies Code. Copies of the Management Board's report on the Bank's activities and the financial statements, along with a copy of the Supervisory Board's report and the auditor's opinion, are provided to shareholders upon request, no later than 15 days before the Bank's General Meeting. The main rights of the Bank’s shareholders are as follows: 1) shareholders representing at least half of the share capital or at least half of the total votes in the company may convene an Extraordinary General Meeting of the Bank. In such case, the shareholders appoint the chairperson of the meeting, 2) shareholders representing at least 1/20 of the share capital may request the inclusion of specific matters in the agenda of the upcoming General Meeting of the Bank. The request to include specific matters in the agenda should include a justification or a draft resolution concerning the proposed agenda item and should be submitted to the Bank’s Management Board no later than twenty one days before the scheduled date of the General Meeting. This request may also be submitted electronically. The Management Bo ard is obliged to immediately, but no later than 18 days before the scheduled date of the General Meeting, announce changes to the agenda introduced at the shareholders' request. The announcement is made in the manner prescribed for convening the General M eeting of the Bank, 3) shareholders representing at least 1/20 of the share capital may, before the date of the Bank’s General Meeting, submit to the Bank, in writing or via electronic communication means, draft resolutions concerning matters included in the agenda of the General Meeting or matters to be included in the agenda. The Bank immediately announces the draft resolutions on the Bank’s website. 4) each shareholder may propose draft resolutions on matters included in the agenda during the General Meeting of the Bank, 5) shareholders may participate in the General Meeting of the Bank either in person or by proxy, 6) at the request of shareholders representing one-tenth of the share capital represented at the General Meeting of the Bank, the attendance list must be verified by a committee selected for this purpose, consisting of at least three members. The applicants have the right to choose one member of this committee, 7) The General Meeting of the Bank cannot adopt a resolution to remove a matter from the agenda or to cease the consideration of a matter placed on the agenda at the request of shareholders without their consent, 8) breaks during the proceedings of the General Meeting of the Bank cannot be aimed at hindering shareholders from exercising their rights, 9) each participant in the Bank's General Meeting has the right to propose one or more candidates for the Bank's Supervisory Board members, 10) at the request of shareholders representing at least one -fifth of the share capital, the election of the Supervisory Board should be carried out by voting in separate groups. The request in this regard should be submitted to the Management Board in writing in a timely manner, allowing it to be included in the agenda of the Bank's General Meeting, 11) shareholders have the right to review the minutes book and request certified copies of the resolutions issued by the Management Board, 12) it is the Chairperson of the General Meeting’s duty to ensure the protection of the rights and interests of all shareholders, particularly ensuring that the rights of minority shareholders are respected, 13) shareholders who oppose a resolution are provided with an opportunity to briefly justify their opposition.
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89 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 All matters presented at the Bank's General Meeting have an opinion from the Supervisory Board According to § 9 of the Bank's Articles of Association, all matters presented at the Bank's General Meeting must be presented to the Supervisory Board for consideration in advance. Members of the Bank's Management Board and Supervisory Board should participate in the General Meeting in a composition that allows them to provide substantive answers to questions raised during the General Meeting. At the General Meeting of the Bank, where financial matters are discussed, particularly at the Ordinary General Meeting, an auditor should be present. The Management Board of the Bank, as the body responsible for providing legal services for the General Meetings of the Bank, makes every effort to ensure that the resolutions are formulated clearly and transparently. The Rules of Procedure for the General Meeting of the Bank include provisions (§ 13(10) –(17)) concerning the election of the Supervisory Board by separate group voting. Any amendments to the Rules of Procedure for the General Meeting of the Bank come into force starting from the next General Meeting of the Bank. The duties and powers of the Chairperson of the General Meeting include, in particular, ensuring the efficient conduct of the meeting in accordance with the established agenda, safeguarding the rights and interests of all shareholders, and, in particular, preventing the abuse of powers by participants of the General Meeting and ensuring that the rights of minority shareholders are respected. Members of the Supervisory Board and the Management Board, as well as the Bank's auditor, within the scope of their competences and to the extent necessary for resolving the matters discussed at the meeting, provide explanations and information to the participants of the Bank's General Meeting. Voting on procedural matters during the General Meeting can only concern issues related to the conduct of the meeting. Resolutions that could affect the exercise of shareholders' rights are not subject to voting in this manner. The removal of a matter from the agenda or the discontinuation of the consideration of a matter placed on the agenda at the justified request of shareholders requires the adoption of a resolution by the Bank's General Meeting with a three -quarters majority, after prior consent has been given by all shareholders present who made such a request. 9. Description of the functioning of the management, supervisory, or administrative bodies of the Bank, as well as their committees, along with an indication of the composition of these bodies and any changes that occurred within them during the last financial year20 Management Board of the Bank The Management Board of the Bank operates based on the Bank's Articles of Association and the Rules of Procedure of the Management Board of Bank Polska Kasa Opieki Spółka Akcyjna, adopted by Resolution No. 64/II/19 of 25 February 2019, amended by Resolution No. 92/III/20 of 12 March 2020, Resolution No. 153/IV/20 of 17 April 2020, Resolution No. 328/VII/20 of 24 July 2020, Resolution No. 3/I/22 of 5 January 2022, Resolution No. 31/I/23 of 23 January 2023, and Resolution No. 267/VI/24 of 18 June 2024. The Ru les of Procedure specify, in particular, the matters that require collective consideration by the Management Board and the rules for conducting Management Board meetings, including meetings held using remote communication means, as well as the rules for ad opting resolutions in writing or through the use of remote communication means. The Rules of Procedure of the Management Board of the Bank are available on the Bank's website21. The Management Board of the Bank assesses that the Rules of Procedure of the Management Board of Bank Polska Kasa Opieki Spółka Akcyjna, as the regulation governing the operation of the Management Board, are adequate and in compliance with legal provisions and supervisory authority requirements. In accordance with the Bank’s Articles of Association, the Management Board manages the Bank’s affairs and represents the Bank. The scope of the Management Board’s responsibilities includes all matters that are not, under applicable law or the Articles of Association, reserved to the competence of other statutory bodies of the Bank. Pursuant to the provisions of the Rules of Procedure of the Management Board, the Management Board develops the Bank’s development strategy. In addition, the Management Board prepares multi -year development programs for the Bank and the Bank’s annual financial plans, which are reviewed by the Supervisory Board. The Management Board of the Bank ensures the transparency and effectiveness of the risk management system and conducts the Bank’s affairs in compliance with applicable laws and Best Practices. The management of the Bank is based on professionalism and credibility, while relations with clients are characterized by diligence and integrity, as well as conduct in accordance with applicable law, including regulations governing anti-money laundering and counter-terrorist financing. The Management Board of the Bank establishes the principles and methods for the implementation of, inter alia: (i) the investment policy, (ii) the asset and liability management policy, (iii) the credit policy, (iv) the human resources, remuneration and social policy of the Bank, and (v) the interest rate policy. 20 § 72(7)(5)(k) and (l) of the Regulation of the Minister of Finance of 6 June 2025. 21 https://www.pekao.com.pl/o-banku/lad-korporacyjny.html
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90 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 In pursuing the principle of efficient and prudent management of the Bank, the Management Board is responsible for initiating and implementing programs aimed at increasing the value of the Bank, generating a return on investment for shareholders, and protecting the long-term interests of employees. When making decisions, the Management Board makes every effort to ensure, to the fullest extent possible, the realization of the interests of shareholders, creditors, employees, as well as ot her entities and persons cooperating with the Bank in the course of its business activities. In the opinion of the Management Board of the Bank, the actions undertaken by the Management Board in 2025 in order to perform the tasks entrusted to it were effective. Members of the Management Board of the Bank are appointed by the Supervisory Board for a joint term of office lasting three full financial years. The Management Board of the Bank ensures the transparency and effectiveness of the management system and conducts the Bank’s affairs in compliance with applicable laws and the “Best Practices.” Composition of the Management Board From 1 January to 31 August 2025, the Management Board of the Bank was composed as follows: 1) Mr Cezary Stypułkowski – President of the Management Board of the Bank, 2) Ms Dagmara Wojnar – Vice President of the Management Board of the Bank, 3) Mr Marcin Gadomski – Vice President of the Management Board of the Bank, 4) Mr Robert Sochacki – Vice President of the Management Board of the Bank, 5) Mr Błażej Szczecki – Vice President of the Management Board of the Bank, 6) Mr Marcin Zygmanowski – Vice President of the Management Board of the Bank. dr Cezary Stypułkowski President of the Management Board of the Bank. In the years 2010 –2024, he served as President of the Management Board of mBank S.A. He holds the position of Vice-Chairman of the Council of the Polish Bank Association and serves as Chairman of the Large Banks Section of the Polish Bank Association. Since 2022, he has been a member of Mastercard’s International Advisory Board. In October 2024, he joined the Board of the Institute of Internatio nal Finance (IIF) in Washington, D.C., the leading global financial industry organization, bringing together nearly 500 of the largest financial institutions from over 60 countries. Since 2012, he has been Co-Chair of the Emerging Markets Advisory Council at the IIF. In the years 2006 –2010, he worked at J.P. Morgan in London, where from 2007 he served as Managing Director of J.P. Morgan’s investment banking business for Central and Eastern Europe. Between 2003 and 2006, he served as President of the Management Board of the PZU Group, and in the years 1991–2003 he was President of the Management Board of Bank Handlowy S.A. in Warsaw. He has been a member of the International Advisory Board of Deutsche Bank, the European Advisory Board of J.P. Morgan, the International Advisory Board of INSEAD, and a member of the Geneva Association. He holds a PhD in Law from the University of Warsaw. In the late 1980s, as a Fulbright Scholar, he studied at Columbia University Business School in New York. Cezary Stypułkowski meets the suitability requirements set out in Article 22aa of the Polish Banking Law Act. Dagmara Wojnar Vice President of the Management Board of the Bank. She is a graduate of Banking at the Cracow University of Economics and of the Multinational MBA program at ESADE in Spain, and holds qualifications as a statutory auditor and FCCA. She has completed a number of executive development programs at leading business schools, including INSEAD and London Business School. She has over 20 years of experience in the financial sector, including more than 10 years in bank financial management. She has worked for the largest banking institutions in Poland, delivering transactions of key importance to the financial sector.
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91 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 In the years 2022 –2024, as an Associate Partner at KPMG, she was responsible for advisory services for Chief Financial Officers. Between 2010 and 2022, she managed the Controlling/MIS area at Santander Bank Polska, where she implemented numerous key projects related to financial management. She has served as a member of decision- making committees within the bank, as well as a member of supervisory boards. In the years 2000–2010, while working at KPMG, she participated in projects for the financial sector in volving statutory audits of financial statements, fair value valuation of loan portfolios, due diligence, and advisory services related to mergers and acquisitions transactions. She is an advocate of partnership between finance and business and a leader focused on building loyal and engaged teams. Dagmara Wojnar meets the suitability requirements set out in Article 22aa of the Polish Banking Law Act. Marcin Gadomski Vice President of the Management Board of the Bank responsible for oversight of risk management material to the Bank’s operations. He holds a Master’s degree from the SGH Warsaw School of Economics in Finance and Banking and completed doctoral studies at the SGH Warsaw School of Economics. He was also a scholarship holder at the University of Kiel (Germany). He has passed a number of professional certification examinations, including: Financial Risk Manager (FRM), Association of Chartered Certified Accountants (ACCA), Project Management Professional (PMP), and Certified Banking and Credit Analyst (CBCA). He participated in the Leadership Development Program run by The John Maxwell Team, as well as in the Deloitte Leadership Program. Marcin Gadomski began his professional career in 2002 at Ernst & Young (currently EY), where he delivered projects in the areas of risk management, finance and internal audit for financial institutions and non -financial enterprises. He subsequently continued his career at Deloitte Advisory, first in the years 2008 –2012 as a Senior Manager, and later in the years 2016–2018 as a Director. As part of Deloitte Advisory, he delivered solutions for the largest financial institutions in Poland and abroad, including in the areas of credit policy, risk models, streamlining of credit processes for retail and corporate clients, market and liquidity risk management, accountin g principles and regulatory requirements, and due diligence reviews for acquisition purposes. In the years 2012 –2016, he served as Director of Retail Banking Credit Risk at Bank Millennium, where he was responsible for credit policy and credit scoring models for business lines such as unsecured consumer loans, mortgage loans and loans to small businesses. From August 2018 to November 2019, he served as a Member of the Management Board of Pekao Bank Hipoteczny S.A. Between 29 November 2019 and 21 April 2020, he served as Vice President of the Management Board of Bank Pekao S.A., where he was responsible for the Risk Management Division, and subsequently served as Director for Credit Risk. As of 1 July 2020, he was reappointed to the Management Board of Bank Pekao S.A., where he is responsible for the Risk Management Division. On 15 February 2021, he obtained the approval of the Polish Financial Supervision Authority (KNF) to perform the function of a Management Board member responsible for oversight of risk management material to the bank’s operations. In addition, Mr Marcin Gadomski serves on supervisory boards as Deputy Chairman of the Supervisory Board of Pekao Leasing Sp. z o.o. and Pekao Investment Banking S.A., and as Chairman of the Supervisory Board of Pekao Bank Hipoteczny S.A. He is also a member of the Supervisory Board of Biuro Informacji Kredytowej S.A. and System Ochrony Banków Komercyjnych S.A. Marcin Gadomski meets the suitability requirements set out in Article 22aa of the Polish Banking Law Act.
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92 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Robert Sochacki Vice President of the Management Board of the Bank. He is a graduate of the Warsaw University of Technology and the Canadian Executive MBA program. He is a Chartered Financial Analyst (CFA). He has also completed the Advanced Management Program at IESE Business School. He has been associated with the financial market for nearly 30 years. From April 2015 to May 2024, he served as President of the Management Board of Beta Securities Poland S.A., a company supporting the development of ETF funds in Poland. Previously, in the period from July 2011 to April 2014, he was a Member of the Management Board of Opera TFI S.A., where he was responsible for the private equity investment area, as well as a Member of the Management Board of Opera Dom Maklerski. From June 2007 to June 2011, he served as Vice President of the Management Board of Bank Gospod arstwa Krajowego, where he was responsible for oversight of financial markets, investment project financing and sales. In addition, he worked at PKO Bank Polski S.A. as Deputy Director of the Treasury Department, and at Credit Lyonnais Bank Polska, where h e headed the sales team in the Treasury Department. He has extensive experience in supervisory boards of capital companies. He has served on the supervisory boards of the following companies: AgioFunds TFI S.A. (member of the Risk Committee), PEKAES S.A. (member of the Audit Committee), SEKO S.A. (member of the Audit Committee), Krajowy Fundusz Kapitałowy S.A., and KUKE S.A. He was a lecturer at the Warsaw Institute of Banking. He has completed numerous training programs and courses in the fields of banking, management and finance. Robert Sochacki meets the suitability requirements set out in Article 22aa of the Polish Banking Law Act. dr Błażej Szczecki Vice President of the Management Board of the Bank. Since 2004, he has been professionally associated with the Pekao S.A. Group. In the years 2018 –2021, he served as Plenipotentiary of the Management Board for Transformation, and subsequently also as Plenipotentiary of the Management Board for Strategy, where he was responsible, inter alia, for oversight of digital and operational transformation and for leading the work on the Bank’s Strategy. In the years 2017–2018, he headed the Transformation and Services Division, managing, among others, IT and Operations. Between 2010 and 2017, as a Member of the Management Board of Pekao Leasing, he was responsible, inter alia , for IT, operations, insurance and customer service. From 2004 to 2010, he held managerial positions in the Corporate Banking Division, including participation in the work preparing the merger of Bank Pekao with Bank BPH. Before joining Pekao, he worked at McKinsey & Company in Frankfurt am Main, Germany, was a researcher at universities in Frankfurt (Oder) and Giessen, Germany, and also gained professional experience at Dresdner Bank. Since 2017, he has served as Chairman of the Supervisory Board of Centrum Kart S.A. From 2017 to August 2020, he was a member of the Supervisory Board of Pekao Financial Services Sp. z o.o., serving as Deputy Chairman and Secretary of the Supervisory Board. He was reappointed to the Supervisory Board of Pekao Financial Services Sp. z o.o. in March 2021 and currently serves as Chairman o f the Supervisory Board. He holds a PhD in Economics and is a graduate of the Faculty of Economics at the European University Viadrina in Frankfurt (Oder), Germany. He has completed numerous domestic and international training programs, including Unifuture in cooperation with the Institute for Management Development (IMD) in Lausanne, Switzerland. Błażej Szczecki meets the suitability requirements set out in Article 22aa of the Polish Banking Law Act.
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93 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Marcin Zygmanowski Vice President of the Management Board of the Bank. He has been professionally associated with Accenture for nearly 30 years, where since 2005 he served as Managing Director. From 2005 to 2013, he led the IT technology practice at Accenture in Poland. In the years 2013–2015, he built the digital transformation practice for the banking sector in Poland, and since 2016, he has been the leader of the global practice specializing in digital banking startups. Between 2017 and 2019, he managed a program that resulted in the establishment of a new digital bank in France, and until 2023, he was responsible for its operations, further development and business continuity. At the same time, he worked closely with lea ding banks in Poland, delivering projects in retail, corporate and investment banking. He has led large -scale, multi -year transformation programs for clients in Poland and internationally, transforming local, regional and global organizations, leveraging both established and emerging technologies. He has extensive international experience, having worked on major projects in financial institutions in the USA, Canada, the UK, France, Spain, Germany, the Czech Republic, Lithuania, Hungary, Turkey, the United Arab Emirates, Malaysia, and Singapore. He graduated with honours from the Faculty of Electronics at the Warsaw University of Technology and completed postgraduate studies in IT at the Swiss Federal Institute of Technology (ETH) in Zurich. He has also completed numerous international training programs in complex program management, technology solutions development, cybersecurity, cloud computing, blockchain, Gen AI, and risk management. Marcin Zygmanowski meets the suitability requirements set out in Article 22aa of the Polish Banking Law Act. On 29 April 2025, following the qualification procedure and suitability assessment, the Supervisory Board of the Bank appointed Mr Łukasz Januszewski to the Management Board of the Bank as Vice President for the current joint term, effective 1 September 2025. According to the statement provided, Mr Michał Panowicz, from the date of assuming office, will not conduct any activity competitive to the Bank, in particular he will not hold the status of a partner in any civil, personal, or capital company competing with the Bank, nor serve as a member of the governing body of any legal entity competing with the Bank, nor conduct his own business activity competitive to the Bank. Mr Michał Panowicz is not entered in the Register of Insolvent Debtors, maintained pursuant to the Act of 20 August 1997 on the National Court Register. On 29 April 2025, following the qualification procedure and suitability assessment, the Supervisory Board of the Bank appointed Mr Łukasz Januszewski to the Management Board of the Bank as Vice President for the current joint term, effective 1 September 2025. According to the statement provided, Mr Łukasz Januszewski, from the date of assuming office, will not conduct any activity competitive to the Bank, in particular he will not hold the status of a partner in any civil, personal, or capital company competing with the Bank, nor serve as a member of the governing body of any legal entity competing with the Bank, nor conduct his own business activity competitive to the Bank. Mr Łukasz Januszewski is not entered in the Register of Insolvent Debtors, maintained pursuant to the Act of 20 August 1997 on the National Court Register. Michał Panowicz Vice President of the Management Board of the Bank. An experienced manager, creator, and leader in the field of digital transformation. He consistently delivers financial results (P&L), budgets, operational metrics, talent development, and comprehensive program execution in the areas of assets, liabilities, payments, insurance, and investment products, serving retail and SME segments, digital channels, technology, and marketing. He has built multi -disciplinary, agile teams of over 550 people, representing more than 40 nationalities and operating in over 20 countries, both in large companies and startups. Michał Panowicz has received 21 global awards for innovation for creating visions, implementing, and commercializing technology -based innovations.
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94 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 He began his professional career at Boston Consulting Group in 1998. From 2006 to 2011, he worked for Microsoft, initially as Group Manager in the Global Corporate Strategy Department in Redmond, US, and later as Director of the Executive Office in the Pri cing and Licensing Division. From 2011 to 2015, he worked at mBank as Managing Director of the New mBank Program and Managing Director for Products, Marketing, and Digital Channels, where he was responsible, among other things, for implementing Agile acros s the entire organization. From 2015 to 2016, he worked at Nordea Bank as Senior Managing Director and Head of Electronic Banking, managing a team of over 550 employees across six countries and responsible for product, IT, operations, design, CRM, and digital sales. He then served until 2018 as Vice President for Products and IT at Kreditech, the largest FinTech company in Germany. From 2018 to 2024, as Managing Director and Partner at Boston Consulting Group in London, he co-founded “InQbate,” a BCG sub -brand acting as an accelerator for building digital solutions, and served as a member of the Global Retail and SME Committee in BCG’s banking practice as Omnichannel Area Leader. He is also the author of numerous publications in this field. Michał Panowicz h olds a Master’s degree in Finance and Banking from the Warsaw School of Economics and an MBA from Harvard Business School. Michał Panowicz meets the suitability requirements set out in Article 22aa of the Polish Banking Law Act. Łukasz Januszewski Vice President of the Management Board of the Bank. An experienced manager, active in the banking sector in Poland and Central and Eastern Europe for 27 years. From 2018 to 2025, Mr Januszewski served as Member of the Management Board of Raiffeisen Bank International AG responsible for Corporate and Investment Banking. He has experience gained from serving as Chairman of the Supervisory Board of Raiffeisenbank a. s. in Prague, Raiffeisen Bank Stock Exchange JSC in Kyiv, and Raiffeisen Kapitalanlage GmbH in Vienna, as well as Member of the Supervisory Board of Raiffeisenbank S.A. in Bucharest and Raiffeisen Digital Bank AG in Vienna. From 2007 to 2018, he was Member of the Management Board of Raiffeisen Bank Polska S.A., responsible for financial markets and treasury operations, and earlier held various key positions, including Director of the Capital Markets Department (2003 –2007). He holds a Bachelor’s degree in Economics from the SGH Warsaw School of Economics and a Master’s degree from the Faculty of Management of the University of Warsaw. Łukasz Januszewski meets the suitability requirements set out in Article 22aa of the Polish Banking Law Act. Accordingly, from 1 September to 31 December 2025, the composition of the Management Board of the Bank was as follows: 1) Mr Cezary Stypułkowski – President of the Management Board of the Bank, 2) Ms Dagmara Wojnar – Vice President of the Management Board of the Bank 3) Mr Marcin Gadomski – Vice President of the Management Board of the Bank 4) Mr Robert Sochacki – Vice President of the Management Board of the Bank 5) Mr Błażej Szczecki – Vice President of the Management Board of the Bank 6) Mr Marcin Zygmanowski – Vice President of the Management Board of the Bank, 7) Mr Łukasz Januszewski – Vice President of the Management Board of the Bank, 8) Mr Michał Panowicz – Vice President of the Management Board of the Bank. Division of competences Members of the Bank’s Management Board coordinate and supervise the Bank’s operations in accordance with the division of competences adopted by the Management Board and approved by the Supervisory Board. As of 31 December 2025, the division of competences among the members of the Management Board was as follows: 1) President of the Management Board – Cezary Stypułkowski: a. convenes and chairs the meetings of the Management Board of the Bank, presents the position of the Management Board of the Bank towards the Bank's bodies and in external relations, particularly with state authorities, b. coordinates the work of the members of the Management Board of the Bank, issues orders in accordance with the internal regulations of the Bank,
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95 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 c. supervises the following areas of the Bank's activities: internal audit, compliance risk, human resources, customer experience organization and management, strategy and corporate affairs, including corporate communications and investor relations, d. has been designated as the Management Board Member responsible for implementing the obligations defined in the Anti-Money Laundering and Terrorist Financing Act. 2) Dagmara Wojnar, Vice President of the Management Board of the Bank, supervises the activities of the Financial Division and has been designated as the member of the Management Board to whom violations will be reported and who will be responsible for the ongoing operation of the violation reporting procedure (whistleblowing). 3) Marcin Gadomski, Vice President of the Management Board of the Bank, supervises the activities of the Risk Management Division, including ESG risk, and is responsible for overseeing the management of bancassurance risk. 4) Robert Sochacki, Vice President of the Management Board of the Bank, supervises the activities of the Corporate Banking, Markets, and Investment Banking Division. 5) Błażej Szczecki, Vice President of the Management Board of the Bank, supervises the activities of the Branch Distribution, Private Banking, and Operations Division. 6) Marcin Zygmanowski, Vice President of the Management Board of the Bank, supervises the activities of the Technology Transformation and Innovation Division, as well as coordinates actions aimed at appropriately managing the risk related to the security of the telecommunication environment. 7) Łukasz Januszewski, Vice President of the Management Board of the Bank, supervises the activities of the Corporate Banking Division. 8) Michał Panowicz, Vice President of the Management Board of the Bank, supervises the activities of the Integrated Channels, Products, and Retail Segments Division. Supervisory Board The Supervisory Board operates based on the Rules of Procedure of the Supervisory Board of Bank Polska Kasa Opieki Spółka Akcyjna, adopted by resolution no. 10/15 of the Supervisory Board of 6 February 2015, and subsequently amended by: resolution no. 9/18 of 13 March 2018, resolution no. 128/20 of 15 July 2020, resolution no. 157/20 of 3 November 2020, resolution no. 168/20 of 10 November 2020, resolution no. 108/21 of 8 July 2021, resolution no. 10/22 of 24 January 2022, resolution no. 116/23 of 18 October 2023, and resolution no. 5/25 of 31 January 2025. The Rules of Procedure of the Supervisory Board are available on the Bank's website. 22 The role of the Supervisory Board is to exercise overall and ongoing supervision over the Bank's activities, including taking into account the Bank's role as the parent company with respect to its subsidiaries. In addition to the powers arising from legal regulations, the Supervisory Board has powers specified in the Bank’s Articles of Association, including, in particular, the fact that the Supervisory Board reviews all matters submitted to the Bank’s General Meeting. The members of the Supervisory Board, in their conduct, act in the best interest of the Bank and undertake all actions aimed at ensuring the smooth functioning of the Supervisory Board. Furthermore, members of the Supervisory Board of the Bank may not undertake actions or make decisions that would result in a conflict of interest or would be contrary to the interests of the Bank. If a member of the Supervisory Board becomes aware of a conflict of interest or the possibility of such a conflict arising, they should inform the Supervisory Board and refrain from speaking during discussions or voting on any resolutions related to the matter in which the conflict of interest has arisen. In accordance with applicable law, the Supervisory Board prepares and submits to the Bank’s General Meeting an evaluation of the Management Board’s report on the activities of the Bank and the activities of the Bank's Capital Group for the previou s financial year, an evaluation of the Bank’s financial statements and the consolidated financial statements of the Bank’s Capital Group for the previous financial year, an evaluation of the Management Board's proposals regarding the distribution of profit s or covering losses, as well as a report on the activities of the Bank’s Supervisory Board. These evaluations are made available to shareholders before the Bank’s General Meeting. The Supervisory Board has established problem committees, each dealing with specific areas of the Bank's operations, including: Audit Committee, Nomination and Remuneration Committee and Risk Committee. The reports of the committees established by the Supe rvisory Board are stored at the Bank's headquarters. Annual reports of the committees are attached to the Supervisory Board's report and published in the same manner as the report. In 2025, the Supervisory Board held 13 meetings. 22 https://www.pekao.com.pl/o-banku/lad-korporacyjny.html
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96 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Composition of the Supervisory Board From 1 January to 5 March 2025, the composition of the Supervisory Board was as follows: 1) Mr Artur Olech – Chairman of the Supervisory Board, 2) Mr Bartosz Grześkowiak – Deputy Chairman of the Supervisory Board, 3) Mr Artur Nowak-Far – Deputy Chairman of the Supervisory Board, 4) Mr Jacek Nieścior – Member of the Supervisory Board, 5) Mr Krzysztof Czeszejko-Sochacki – Member of the Supervisory Board, 6) Mr Radosław Niedzielski – Member of the Supervisory Board, 7) Mr Witold Walkowiak – Member of the Supervisory Board, 8) Ms Magdalena Dziewguć – Member of the Supervisory Board. Artur Olech Chairman of the Supervisory Board. A manager with over 30 years of experience in the financial and insurance industries. Since 12 April 2024, he has served as the President of the Management Board of PZU S.A. He is a graduate of the Faculty of Law and Administration at the University of Warsaw and the Faculty of Finance and Banking at the SGH Warsaw School of Economics. He also completed studies at the Wirtschaftsuniversität Wien. He has participated in numerous training programs for top executives, including those at Harvard Business School, Kellogg School of Management, and Chicago GSB (Booth School of Business). He is a co-founder of fintech companies. An expert in business process management. A long-time President of the Management Board of financial institutions. Since May 2020, he has been a co -founder of Trasti – an insurtech and digital insurer created in a j oint venture with Triglav DD and Swiss Re, where he also served as President of the Management Board. He has experience in the insurance market, both in the private and public sectors. In 2014, he was invited by the Management Board of the Poczta Polska S.A. Group to cooperate in using his expertise to establish and lead Postal Insurance. In just 4 months after its founding and obtaining a license, the life insurance company Pocztowe Towarzystwo Ubezpieczeń na Życie S.A. began its operations. At the same time, his team reorganized the operations of the property insurance company – Pocztowe Towarzystwo Ubezpieczeń Wzajemnych, changing its structure and modernizing it into a multi-brand business model. He was associated with the Generali Group for many years, progressing through various stages of his career and assuming different responsibilities, starting as a manager, then as the Director of a Department, Member of the Management Board, Vice President, and finally being offered the position of President of the Management Board of the Group in Poland in 2010. During this period, he participated in numerous specialized training programs and was the first Polish person to complete the Value of Knowledge pr ogram for top management within the international structures of the Generali Group. Under his leadership in Poland, the Polish Generali companies were twice awarded in 2012 and 2013 for their financial results and business growth. From 2010 to 2014, he ser ved as the leader of a multinational, multicultural, and diversified Management Board of the Generali Group in Poland. He has served on several supervisory boards of Polish financial institutions and pension funds, holding the position of independent member in public sector and listed companies. In 2017–2018, he was a Member of the Supervisory Board of Mabion S.A., an innovative drug manufacturer. In 2016, he joined the Supervisory Board of Ciech S.A. (currently Qemetica), where he still serves as Chairman of the Audit Committee. In March 2023, he was invited to the Program Council of EKF Ubezpieczenia, a conference organized as part of the prestigious European Financial Congress. He is a member of the Jury of the Leaders of the Banking and Insurance World, which awards annual prizes for the best banks and insurance companies. Since May 2024, he has been a member of the Audit Committee of the Polish Chamber of Insurance. Since June 2024, he has been a member of the Supervisory Board of the Insurance Guarantee Fund.
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97 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Bartosz Grześkowiak Deputy Chairman of the Supervisory Board. A manager with over 20 years of experience in the insurance industry. Since 12 April 2024, he has been a Member of the Management Board of PZU S.A. He is a graduate of the Poznań University of Life Sciences. In 2003, he completed a one- year postgraduate program in capital investments at the Poznań University of Business and Economics, Faculty of Finance and Banking. He also completed the AMP Advanced Management Program approved by IESE University of Navarra. He holds a broker's exam certificate. From the beginning of his career, Mr Grześkowiak has been associated with the insurance market in the corporate insurance segment. In 2005, he joined UNIQA Towarzystwo Ubezpieczeń S.A., where he held several managerial positions, ultimately becoming Director of the Sales Department (Broker Channel) in 2008. From 2011, he served as Managing Director at Towarzystwo Ubezpieczeń i Reasekuracji WARTA S.A., where he was responsible for managing the Corporate Insurance Department and actively participated in build ing and implementing the company's strategy. In 2018, he joined the MAK Group as Vice-President of the following companies: MAK Ubezpieczenia and STBU Brokerzy Ubezpieczeniowi. In May 2019, he became President of the Management Board of MAK International S p. z o.o., and in November 2020, he was appointed Vice President of the Management Board of the reinsurance broker MAK Re. Since April 2024, he has been the Chairman of the Supervisory Board of TUW PZUW, and since May 2024, he has been a member of the Audit Committee of the Polish Chamber of Insurance. Artur Nowak-Far Deputy Chairman of the Supervisory Board. Full professor of legal sciences, Doctor of Economic Sciences, academic staff member at the SGH Warsaw School of Economics. A recognized expert in financial law, including European Union financial law. From 2013 to 2015, he served as Undersecretary of State at the Ministry of Foreign Affairs, responsible, among other things, for ensuring that legislation complied with EU law. From 2007 to 2013, he was a member of the Board of the Supreme Audit Office. Editor and author of articles and books, particularly in the fields of financial law and EU law, including “Prawo i ekonomii rynku wewnętrznego Unii Europejskiej” (Poltext Publishing House, Warsaw 2013), “Prawo Unii Europejskiej. Języki, struktury, działanie w praktyce” (C. H. Beck, Warsaw 2021), “European Economic and Monetary Union: A Legal Perspective on the EU Economic Governance Model Development” (Studium, Rome 2022), “Prawo Bankowe. Komentarz", edited by Agnieszka Mikos-Sitek and Piotr Zapadka (Wolters Kluwer, Warsaw 2023). He is an independent Member of the Supervisory Board. Jacek Nieścior Member of the Supervisory Board. He graduated in 1991 from the Faculty of Law at the University of Gdańsk. After completing his studies, he undertook legal counsel training at the Regional Chamber of Legal Advisers in Olsztyn and has been listed as a legal counsel since 1994. He has held managerial positions in the Supreme Audit Office, the Capital City of Warsaw Municipality Office, the Provincial Office in Warsaw, and the Marshal’s Office of the Mazovian Voivodeship. He has served on the Supervisory Boards of Grodziskie Zakłady Farmaceutyczne POLFA Sp. z o.o. in Grodzisk Mazowiecki, DIPSERVICE w Warsawie S.A., Stołeczne Przedsiębiorstwo Handlu Wewnętrznego Sp. z o.o., Huta Lucchini Warszawa Sp. z o.o., Pekao Investment Management S.A., and Grupa Azoty Zakłady Azotowe „Puławy” S.A. as Chai rman of the Supervisory Board. Since 1998, he has continuously practiced as a legal counsel and currently runs his own law office, providing legal services to local government units and entrepreneurs. He is an independent Member of the Supervisory Board.
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98 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Krzysztof Czeszejko-Sochacki Member of the Supervisory Board. He graduated from the Faculty of Law and Administration at the University of Warsaw. After passing the judicial exam (1980) and the bar exam (1983), he has practiced as a lawyer, initially in a law firm and, since 1992, in his own law office in Warsaw – Kancelaria Adwokacka Adwokat Krzysztof Czeszejko -Sochacki, specializing in broadly understood civil, business, banking, real estate, construction investment, intellectual and industrial property law, copyright law, family law, energy law, constitutional law, and providing comprehensive legal assistance in judicial, administrative, and judicial -administrative proceedings, as well as alternative dispute resolution methods (mediation, arbitration). He has served as a mediator and arbitrator at the Arbitration Court of the Polish Chamber of Commerce in Warsaw (1999 –2005 Vice-President), the Arbitration Court of SIDiR in Warsaw, the Arbitration Court of Western Pomerania at the Northern Chamber of Commerce in Szczecin, and the Court of Arbitration of the Polish -German Chamber of Industry and Commerce in Warsaw. He is a mediator at the International Mediation Centre in Poland, the Mediation Centre at the Polish Chamber of Commerce, and the Economic Mediation Centre at the Gas Industry Chamber of Commerce. He is a member of the Warsaw Chamber of Commerce, Deputy Chairman of the Supervisory Board of MUZA S.A., the Polish -French Chamber of Commerce (CCIFP), the Polish National Committee of the International Chamber of Commerce (ICC Polska), the Board of the Association of Friends of Warsaw, and the Central Council of the “Ordynacka” Association. He is an honorary member of the International Private Law Association in Lugano, Switzerland. He served as Chief of the Chancellery of the Sejm from 2001 to 2004. He was the former President of the Boards of Investgas S.A. in Warsaw, Mazur Trading Environment Sp. z o.o. in Warsaw, and the Foundation for Supporting Economic Initiatives. He has been a former member of the Supervisory Board of Polskie Radio S.A. and the Board of the Polish Olympic Foundation in Warsaw, Editorial Board of the bi -monthly “Przegląd Sejmowy” (2004–2006), and from 2017 to 2021 a member of the Legislative Commission of the National Bar Council and the Supervisory Board of Bank Inicjatyw Gospodarczych S.A. (1989 –1991). He was the former Secretary of the Supervisory Board of Polskie Radio S.A., the Supervisory Board of the Powszechne Towarzystwo Emerytalne H -M-C S.A., Chairman of the Supervisory Board of PERN “Przyjaźń” S.A. in Płock, Deputy Chairman of the Mazovian Regional Health Fund in Warsaw (1999 –2001). He was the former President of the National Council of the Society for Supporting Economic Initiatives (1996–2005), Vice President of the Polish Chamber of Commerce in Warsaw (1997–2004), and Vice President of the Polish Fencing Club Board (2003 –2023). From 1998 to 2002, he served as a member of the Mazovian Voivodeship Sejm in the first term and as Chairman of the Committee of the Mazovian Voivodeship Assembly. He was also a former judge of the State Tribunal (1993 –1997) and the Stock Exchange House Court in Warsaw (1997–2001). He has been awarded several distinctions, including: Officer's Cross of the Order of Polonia Restituta, Cross of the White Star II Class for Merits to the State and Nation of Estonia, Honorary Gold Badge of the Polish Chamber of Commerce, Gold Medal of the Polish Academy of Success, Gold Badge of ZSP, Medal "For Merits to the Student Movement,” Title “Benevolenti” for Supporting Pro -Social Initiatives of the Pro Seniore Foundation and Charitable Activities for Senior Doctors, Badge of “Distinguished Activist of the Cooperative Movement,” Honorary Badge “For Merits to Warsaw.” He is an independent member of the Supervisory Board. Radosław Niedzielski Member of the Supervisory Board. A manager with experience in the public sector. A graduate of the Jagiellonian University and the National School of Public Administration. He gained and developed his professional experience in the Ministry of the State Treasury, the Chancellery of the Prime Minister, Agencja Rozwoju Przemysłu S.A. and Bank Gospodarstwa Krajowego. He was responsible for exercising rights from shares and stakes in over 150 companies with the participation of the State Treasury. He led investment projects involving direct capital entry from the State Treasury or a state legal entity.
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99 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 An expert in restructuring, including the use of public aid. Co-author of a state aid program for the rescue and restructuring of companies, which was notified to the European Commission, and operationalized five years later under national law. Currently, he serves as the Vice President of the Management Board at Agencja Rozwoju Przemysłu S.A., where he is responsible for finance and overseeing the Capital Group. He is an independent member of the Supervisory Board. Witold Walkowiak Member of the Supervisory Board. He has over 25 years of experience in the financial sector in Poland and abroad. He began his banking career at Bank Handlowy w Warszawie S.A., where he held positions ranging from Deputy Head of Department to Vice President of the Management Board. He also served as Vice President of the Management Board at Bank Przemysłowo - Handlowy S.A. He gained extensive experience in the insurance sector. He served as a member of the Management Board of PZU S.A. He was also associated with the Dutch insurance group Achmea, where he worked as Chief Financial Officer of the European Department and served as a mem ber of boards of directors and chairman of audit committees at Friends First in Dublin and Interamerican in Athens. For nearly 10 years, he was Vice President of the Management Boards of insurance companies within the Warta Group. The core areas of his expertise and responsibility throughout his career in the financial sector included accounting and financial reporting, financial planning and controlling, risk management, and asset management. He was a member of the Management Board of the Polish Bank Association and the Polish Chamber of Insurance. He is currently a lecturer at the Vistula University of Finance and Business. He is a graduate of the SGH Warsaw School of Economics and holds a PhD in Economics. He was a British Council scholar at the University of Cambridge and a Fulbright scholar at the Brookings Institution in Washington, D.C. He is an independent Member of the Supervisory Board. Magdalena Joanna Dziewguć Secretary of the Supervisory Board. Magdalena Joanna Dziewguć is a manager with over 20 years of experience in the new technologies sector, specializing in digital transformation and innovation. She holds a Master’s degree in Law and has completed numerous postgraduate programs, including an Executive MBA at SGH Warsaw School of Economics as well as programs at Harvard Business School. She also holds the prestigious Corporate Board Director diploma awarded by that institution. She is a co-founder of Digital University and the LiderSHE Association, which promotes women’s participation in public life. She has extensive experience serving on supervisory boards of both state -owned companies and companies listed on European stock exchanges. She currently serves as a Member of the Supervisory Board of InPost. Previously, she was a member of supervisory boards including PGE Dystrybucja, BNP Paribas Bank Polska and Wrocław University of Science and Technology. Her professional career includes key roles at Google, Exatel, Polkomtel, and Orange. At Google Cloud, she is responsible for the development of operations in Central and Eastern Europe, including the launch of the first public cloud technology region in Eastern Europe. Recognized as one of the most influential women in the technology sector in Poland, she has received numerous awards, including Executive Club CEO of the Year. She was a finalist in the Warszawianka Roku 2022 ranking. On a daily basis, she is a mother of three and is actively engaged in initiatives supporting women’s professional activation and increasing their participation in the economy and public governance. He is an independent Member of the Supervisory Board.
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100 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 The six Members of the Supervisory Board, namely: Artur Nowak -Far, Krzysztof Czeszejko-Sochacki, Radosław Niedzielski, Jacek Nieścior, Witold Walkowiak, and Magdalena Joanna Dziewguć, meet the independence criteria set out in the Act of 11 May 2017 on Statutory Auditors, Audit Firms and Public Oversight, and do not have any actual or material relationships with a shareholder holding at least 5% of the total number of votes in the Company. On 6 February 2025, Mr Artur Olech submitted his resignation from the position of Chairman of the Supervisory Board of the Bank and from membership in the Bank’s Supervisory Board, effective at the end of the day on 5 March 2025. The resignation did not specify the reasons for stepping down. On 6 March 2025, the Extraordinary General Meeting of the Bank, having taken into account the assessment of compliance with the suitability requirements, appointed: 1) Mr Andrzej Klesyk and 2) Mr Mariusz Jaszczyk to the Supervisory Board of the Bank for a joint three-year term of office, which commenced on 18 April 2024. According to the submitted statements, none of the above-mentioned members of the Supervisory Board of the Bank conducts any business competitive with the Bank, participates in a competing company as a partner in a civil law partnership, partnership or capital company, or participates in a competing legal entity as a member of its governing body. According to the submitted statements, none of the above-mentioned members of the Supervisory Board of the Bank is entered in the Register of Insolvent Debtors maintained pursuant to the Act of 20 August 1997 on the National Court Register. From 6 March to 12 March 2025, the composition of the Supervisory Board of the Bank was as follows: 1) Mr Andrzej Klesyk – Member of the Supervisory Board, 2) Mr Artur Nowak-Far – Deputy Chairman of the Supervisory Board, 3) Mr Bartosz Grześkowiak – Deputy Chairman of the Supervisory Board, 4) Ms Magdalena Joanna Dziewguć – Member of the Supervisory Board, 5) Mr Krzysztof Czeszejko-Sochacki – Member of the Supervisory Board, 6) Mr Radosław Niedzielski – Member of the Supervisory Board, 7) Mr Jacek Nieścior – Member of the Supervisory Board, 8) Mr Witold Walkowiak – Member of the Supervisory Board, 9) Mr Mariusz Jaszczyk – Member of the Supervisory Board. On 13 March 2025, the Supervisory Board of the Bank elected Mr Andrzej Klesyk as Chairman of the Supervisory Board and Ms Magdalena Joanna Dziewguć as Secretary of the Supervisory Board. Accordingly, from 13 March to 5 November 2025, the composition of the Supervisory Board of the Bank was as follows: 1) Mr Andrzej Klesyk – Chairman of the Supervisory Board, 2) Mr Artur Nowak-Far – Deputy Chairman of the Supervisory Board, 3) Mr Bartosz Grześkowiak – Deputy Chairman of the Supervisory Board, 4) Ms Magdalena Joanna Dziewguć – Secretary of the Supervisory Board, 5) Mr Krzysztof Czeszejko-Sochacki – Member of the Supervisory Board, 6) Mr Radosław Niedzielski – Member of the Supervisory Board, 7) Mr Jacek Nieścior – Member of the Supervisory Board, 8) Mr Witold Walkowiak – Member of the Supervisory Board, 9) Mr Mariusz Jaszczyk – Member of the Supervisory Board. Andrzej Klesyk Chairman of the Supervisory Board. He is a graduate of the John Paul II Catholic University of Lublin, Faculty of Social Sciences, majoring in Economics, and Harvard Business School, where he obtained an MBA degree. In addition, he completed numerous international training programs related to the financial sector and management, including global training programs for partners and managing directors of The Boston Consulting Group. He has extensive experience in consulting for the financial and insurance sectors. He began his professional career in 1989–1991 as an assistant at the Catholic University of Lublin. From April 1990 to January 1991, he served as Assistant to the Minister’s Advisor at the Ministry of Ownership Transformations. From January to August 1991, he worked as a Researcher at Kidder, Peabody Company and Coopers & Lybrand in New York.
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101 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 From June to August 1992, he completed an internship at McKinsey & Company in Germany. From October 1993 to February 2000, he served as Senior Engagement Manager at the London office of McKinsey & Company. From February to December 2000, he was President of the Management Board of Inteligo Financial Services SA. From December 2000 to February 2003, he served as a Member of the Management Board of Bankgesellschaft Berlin (Polska) SA. From April 2003 to Decemb er 2007, he held the position of Partner and Managing Director at The Boston Consulting Group in Warsaw, where he cooperated, among others, with PZU on insurance projects related to claims handling, direct insurance, assistance services, as well as corporate governance and intra-group relations within the PZU Group. From 14 December 2007 to 8 December 2015, he served as President of the Management Board of PZU S.A. In this role, he was responsible for the management of the Company and the PZU Group. In particular, he was responsible for strategy, HR policy, investment policy, and corporate governance support functions, including legal affairs, corporate governance, and internal control. He led the IPO of PZU, the largest IPO on the Warsaw Stock Exchange at that time. In the years 2017 –2019, he served as Chairman of the Supervisory Board of Best SA. From 2017 to 2022, at NKBM Maribor, he was Deputy Chairman of the Supervisory Board and Chairman of the Audit Committee. He also served as a Non -Executive Director, Chairman of the Audit Committee, and Member of the Strategy Committee at Play Communication from 2014 to 2021. He led the first wave of restructuring of the largest insurance company in Greece, Ethniki, following its acquisition by CVC, one of the world’s largest private equity firms, serving as Chairman of the Board of Directors and Chairman of the Nomination and Remuneration Committee. From 2020 until the end of February 2025, he served as Managing Partner at Cornerstone Partners, where he was responsible for several portfolio companies. Mariusz Jaszczyk Member of the Supervisory Board. Vice President of the Management Board of Polski Fundusz Rozwoju S.A. (“PFR S.A.”) for Finance and Development. He is a manager with over a decade of experience in corporate finance and accounting. He gained professional experience at consulting firms KPMG and EY, financial institutions such as the PKO BP Group and Polski Fundusz Rozwoju Group, as well as at Telematics Technologies. He was a co -author of the Employee Capital Plans (PPK) Act. He served as Managing Director of the Finance Division at PFR S.A. He completed doctoral studies at the SGH Warsaw School of Economics, College of Management and Finance, where he had previously earned a Master’s degree in Finance and Banking. Since 2009, he has been listed as a statutory auditor by the Polish Chamber of Statutory Auditors. On 3 November 2025, resignations were submitted, effective at the end of 5 November 2025, by: 1) Mr Andrzej Klesyk from the position of Chairman of the Supervisory Board of the Bank and from membership in the Supervisory Board of the Bank, 2) Mr Radosław Niedzielski from membership in the Supervisory Board of the Bank. The resignations did not specify the reasons for stepping down. On 6 November 2025, the Extraordinary General Meeting of the Bank, having taken into account the assessment of compliance with the suitability requirements, appointed: 1) Mr Bogdan Benczak 2) Ms Diana Dębowczyk to the Supervisory Board of the Bank for a joint three-year term of office, which commenced on 18 April 2024. According to the submitted statements, none of the above-mentioned members of the Supervisory Board of the Bank conducts any business competitive with the Bank, participates in a competing company as a partner in a civil law partnership, partnership or capital company, or participates in a competing legal entity as a member of its governing body. According to the submitted statements, none of the above-mentioned members of the Supervisory Board of the Bank is entered in the Register of Insolvent Debtors maintained pursuant to the Act of 20 August 1997 on the National Court Register.
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102 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 From 6 November to 13 November 2025, the composition of the Supervisory Board of the Bank was as follows: 1) Mr Bogdan Benczak – Member of the Supervisory Board, 2) Mr Artur Nowak-Far – Deputy Chairman of the Supervisory Board, 3) Mr Bartosz Grześkowiak – Deputy Chairman of the Supervisory Board, 4) Ms Magdalena Joanna Dziewguć – Secretary of the Supervisory Board, 5) Mr Krzysztof Czeszejko-Sochacki – Member of the Supervisory Board, 6) Ms Diana Dębowczyk – Member of the Supervisory Board, 7) Mr Jacek Nieścior – Member of the Supervisory Board, 8) Mr Witold Walkowiak – Member of the Supervisory Board, 9) Mr Mariusz Jaszczyk – Member of the Supervisory Board. On 14 November 2025, the Supervisory Board of the Bank elected Mr Bogdan Benczak as Chairman of the Supervisory Board. Accordingly, from 14 November to 31 December 2025, the composition of the Supervisory Board of the Bank was as follows: 1) Mr Bogdan Benczak – Chairman of the Supervisory Board, 2) Mr Artur Nowak-Far – Deputy Chairman of the Supervisory Board, 3) Mr Bartosz Grześkowiak – Deputy Chairman of the Supervisory Board, 4) Ms Magdalena Joanna Dziewguć – Secretary of the Supervisory Board, 5) Mr Krzysztof Czeszejko-Sochacki – Member of the Supervisory Board, 6) Ms Diana Dębowczyk – Member of the Supervisory Board, 7) Mr Jacek Nieścior – Member of the Supervisory Board, 8) Mr Witold Walkowiak – Member of the Supervisory Board, 9) Mr Mariusz Jaszczyk – Member of the Supervisory Board. Bogdan Benczak Chairman of the Supervisory Board. He is a legal advisor, graduate of the Faculty of Law at the University of Warsaw, postgraduate studies at the Cracow University of Economics, and an MBA in Management from the University of Gdańsk. He currently serves as a Member of the Management Board of PZU S.A., heading the Board’s work pending approval from the Polish Financial Supervision Authority for his appointment as President of the Management Board. He is a manager with many years of experience in supervisory and management bodies of companies in Poland and the Baltic states. He has held key positions in numerous entities within the PZU Group. From 2008 to 2015, he was President of the PZU Foundation and Director of the Foreign Operations Office and Business Development Office of PZU (2008 –2014). From 2010 to 2014, he served as President of UAB PZU Lietuva, from 2009 to 2017 as President of UAB PZU Lietuva Gyvybės Draudimas, and from 2014 to 2017 as Pr esident of AAS BALTA, while also acting as Managing Director for Foreign Operations at PZU S.A. From 2015 to 2017, he was a Member of the Management Board of AB Lietuvos Draudimas. Between 2018 and 2022, he was Member of the Management Board and President of ERGO Insurance SE / ERGO Life Insurance SE. From 2023 to 2024, he served as General Director of ADB Gjensidige Lietuva. From February to September 2025, he held the position of Managing Director for Corporate Affairs in the PZU Group. Currently, he is C hairman of the Supervisory Boards of PZU Życie S.A., AB Lietuvos Draudimas, UAB PZU Lietuva Gyvybės Draudimas, PrJSC IC PZU Ukraine and PrJSC IC PZU Ukraine Life Insurance, and PZU Zdrowie S.A., a Member of the Supervisory Board of TU Link 4 S.A., a Member of the Audit Committee of the Polish Chamber of Insurance, and sits on the board of the Polish National Foundation. Diana Dębowczyk Member of the Supervisory Board. MBA, ACO – Director of the Minister’s Office at the Ministry of State Assets. She is a legal advisor and a certified compliance officer with over 15 years of experience in legal advisory, compliance, business ethics, risk management, and internal legislation. She currently serves as Director of the Minister’s Office at the Ministry of State Assets, where she is responsible for coordinating the Minister's and the Ministry's leadership's strategic actions, including cooperation with the Chancellery of the Prime M inister, the Sejm, the Senate, and other public administration bodies. Previously, she served as Director of the Compliance Office at the Industrial Development Agency S.A., where she was responsible for comprehensive management of the
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103 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 compliance system and business ethics. She has extensive experience in building and implementing compliance systems in large organizations, creating internal regulations, and conducting investigative proceedings. At Totalizator Sportowy, including as Chief Compliance Officer, she managed the compliance, internal audit, and internal legislation areas, participating in processes related to the introduction of new products and organizational restructuring of the compa ny. She also developed her professional experience working in law firms, advising companies on corporate law, investment, and regulatory compliance. She holds an Executive MBA (Institute of Economic Sciences, Polish Academy of Sciences) and an MBA in Compliance Analytics (Leon Koźmiński Academy). She is a Certified Approved Compliance Officer (2018). Audit Committee In 2025, the Audit Committee operated based on: 1) The Rules of Procedure of the Supervisory Board, adopted by the Supervisory Board of the Bank's Resolution no. 116/23 of 18 October 2023, and the Rules of Procedure of the Audit Committee of the Supervisory Board of Bank Polska Kasa Opieki S.A., adopted by the Supervisory Board of the Bank's Resolution no. 118/23 of 18 October 2023. 2) The Rules of Procedure of the Supervisory Board and the Rules of Procedure of the Audit Committee of the Supervisory Board of Bank Polska Kasa Opieki S.A., adopted by the Supervisory Board of the Bank's Resolution no. 5/25 of 31 January 2025. Activities of the Audit Committee The purpose of the Audit Committee is to assist the Supervisory Board of the Bank in fulfilling its duties, particularly regarding: 1) monitoring the financial reporting process, 2) monitoring the effectiveness of internal control systems, risk management systems, and internal audit, including in the area of financial reporting, 3) monitoring the performance of financial auditing activities, specifically the audit performed by the auditing firm, including the conclusions and findings of the Polish Agency for Audit Oversight resulting from its inspection of the auditing firm, 4) controlling and monitoring the independence of the auditor and the auditing firm, especially when the auditing firm provides other services besides the audit to the Bank, 5) informing the Supervisory Board of the Bank about the results of the audit and explaining how the audit contributed to the reliability of financial reporting, as well as the role of the Audit Committee in the audit process, 6) assessing the independence of the auditor and approving the provision of permitted non-audit services by the auditor, 7) developing the policy for selecting an auditing firm to perform the audit, 8) developing the policy for providing non -audit services related to financial reporting by the auditing firm conducting the audit, its related entities, and the auditor network, 9) defining the procedure for selecting an auditing firm to perform the audit of financial statements, 10) presenting to the Supervisory Board of the Bank recommendations for selecting an auditing firm to perform the audit of financial statements, 11) submitting recommendations to the Supervisory Board of the Bank to ensure the reliability of the financial reporting process, 12) reviewing the audit plan presented by Internal Audit for the given financial year and making recommendations to the Supervisory Board regarding its approval, 13) reviewing, at least once a year, the process of preparing annual and interim financial statements based on reports provided by the relevant department of the Bank’s headquarters, 14) evaluating significant (i.e., those affecting the Bank's operations, financial statements, reputation, and legal compliance) conclusions resulting from the work of the Bank’s Internal Audit or from other external audits and proceedings, particularly reports from the Polish Financial Supervision Authority, 15) supervising corrective actions regarding identified irregularities, 16) meeting at least once a year with the auditor to review the annual audit report, 17) reporting at least once a year to the Supervisory Board on its activities and providing quarterly updates on supervisory activities and their results,
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104 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 18) maintaining effective working relationships with the Supervisory Board, the Management Board, internal auditors, and external auditors; and 19) analysing and reporting on transactions between related parties, especially in situations involving a direct or indirect conflict of interest. The Audit Committee meets as necessary, but no less than four times a year, on dates aligned with the key dates in the Bank’s quarterly reporting cycle and the review of the annual audit plan submitted by the Head of the Internal Audit Department. In 2025, the Audit Committee held 14 meetings. The Audit Committee prepares a report on its activities once per quarter, which includes information on the matters discussed, the information acknowledged, as well as data on the number of members attending the meetings and the number of resolutions adopted. Composition of the Audit Committee The Audit Committee consists of 3 (three) to 7 (seven) members selected from the members of the Supervisory Board. At least one member of the Audit Committee must have knowledge and skills in accounting or financial statement auditing. The majority of the Audit Committee members, including its Chair, were independent of the Bank in accordance with Article 129(3) of the Act of 11 May 2017 on statutory auditors, audit firms, and public supervision (hereinafter referred to as the “Act on Statutory Auditors, Audit Firms, and Public Supervision”). Members of the Audit Committee possess the necessary skills to appropriately perform their assigned function, including relevant education and professional experience. The qualifications of the members of the Supervisory Board, including the education and experience of the Audit Committee members, along with the manner in which these qualifications were obtained, have been presented on the Bank’s website.23 From 1 January to 17 February 2025, the composition of the Audit Committee was as follows: 1) Mr Jacek Nieścior – Chair of the Committee, 2) Mr Krzysztof Czeszejko-Sochacki – Member of the Committee, 3) Mr Robert Niedzielski – Member of the Committee, 4) Mr Artur Nowak-Far – Member of the Committee, 5) Mr Witold Walkowiak – Member of the Committee. On 18 February 2025, the Supervisory Board of the Bank appointed Ms Magdalena Joanna Dziewguć to the Audit Committee of the Supervisory Board of the Bank. As a result, from 18 February to 8 May 2025, the composition of the Audit Committee was as follows: 1) Mr Jacek Nieścior – Chair of the Committee, 2) Mr Krzysztof Czeszejko-Sochacki – Member of the Committee, 3) Mr Robert Niedzielski – Member of the Committee, 4) Mr Artur Nowak-Far – Member of the Committee, 5) Mr Witold Walkowiak – Member of the Committee, 6) Ms Magdalena Joanna Dziewguć – Member of the Committee. On 6 March 2025, the Extraordinary General Meeting of the Bank, considering the assessment of meeting the eligibility requirements, appointed Mr Mariusz Jaszczyk to the composition of the Supervisory Board of the Bank for a joint three -year term, which began on 18 April 2024. On 9 May 2025, the Supervisory Board of the Bank appointed Mr Mariusz Jaszczyk to the Audit Committee of the Supervisory Board of the Bank. As a result, from 9 May 2025 to 17 June 2025, the composition of the Audit Committee was as follows: 1) Mr Jacek Nieścior – Chair of the Committee, 2) Mr Krzysztof Czeszejko-Sochacki – Member of the Committee, 3) Mr Mariusz Jaszczyk – Member of the Committee, 4) Mr Robert Niedzielski – Member of the Committee, 5) Mr Artur Nowak-Far – Member of the Committee, 6) Mr Witold Walkowiak – Member of the Committee. 7) Ms Magdalena Joanna Dziewguć – Member of the Committee. On 18 June 2025, the Audit Committee of the Supervisory Board of the Bank, taking into account the assessment of individual suitability, elected Mr Witold Walkowiak as the Secretary of the Committee. 23 https://www.pekao.com.pl/o-banku/wladze-banku.html
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105 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 As a result, from 18 June 2025 to 05 November 2025, the composition of the Audit Committee was as follows: 1) Mr Jacek Nieścior – Chair of the Committee, 2) Mr Krzysztof Czeszejko-Sochacki – Member of the Committee, 3) Mr Mariusz Jaszczyk – Member of the Committee, 4) Ms Magdalena Joanna Dziewguć – Member of the Committee, 5) Mr Robert Niedzielski – Member of the Committee, 6) Mr Artur Nowak-Far – Member of the Committee, 7) Mr Witold Walkowiak – Secretary of the Committee. On 3 November 2025, Mr Radosław Niedzielski submitted his resignation, effective at the end of 5 November 2025, from the membership of the Supervisory Board of the Bank. As a result, from 6 November to 31 December 2025, the composition of the Audit Committee was as follows: 1) Mr Jacek Nieścior – Chair of the Committee, 2) Mr Krzysztof Czeszejko-Sochacki – Member of the Committee, 3) Ms Magdalena Joanna Dziewguć – Member of the Committee, 4) Mr Mariusz Jaszczyk – Member of the Committee, 5) Mr Artur Nowak-Far – Member of the Committee, 6) Mr Witold Walkowiak – Secretary of the Committee. Mr Jacek Nieścior, Mr Krzysztof Czeszejko -Sochacki, Ms Magdalena Joanna Dziewguć, Mr Artur Nowak -Far, and Mr Witold Walkowiak meet the independence criteria. On 1 January 2025, amendments to the Accounting Act and the Act on Statutory Auditors, Audit Firms and Public Supervision, introduced by the Act of 6 December 2024 on Amendments to the Accounting Act, the Act on Statutory Auditors, Audit Firms and Public Supervision, and Certain Other Acts (Journal of Laws of 2024, item 1863), came into force. These amendments implement the EU directive on corporate reporting related to sustainable development into Polish law. To ensure compliance of the Bank's internal regulations with the introduced changes, in July 2025, as a public interest entit y, the Bank adopted updated policies and procedures specified in Article 130(1)(5 –7) of the Act on Statutory Auditors, Audit Firms, and Public Supervision, based on resolutions of the Bank's Supervisory Board. These include: 1) “Policy and procedure for the selection of an audit firm to conduct he statutory audit of the financial statements of Bank Pekao S.A., the attestation of sustainability reporting and the rules of cooperation with the audit firm, the statutory auditor and the supervisory authority” (hereinafter the “Selection Policy”), 2) “Procedure for the selection of the audit firm” (hereinafter the “Selection Procedure”), 3) “Policy on the provision of services by the auditor firm conducting the audit or the attestation of sustainability reporting, by entities affiliated with the auditor firm and by a member of the auditor firm's network, for permitted non - audit services" (hereinafter the “Services Provision Policy”). The adopted Selection Policy, Selection Procedure and Services Provision Policy include the relevant changes concerning sustainability reporting. The regulations take into account the fact that, based on Resolution no. 56 of the Ordinary General Meeting of the Bank, dated 24 April 2025, regarding amendments to the Bank’s Articles of Association and authorizing the Bank’s Supervisory Board to approve the consolidated text of the Bank’s Statutes, the Bank utilized the option to transfer th e competence of the General Meeting to the Supervisory Board in the matter of selecting the audit firm for the attestation of sustainability reporting, by amending the Bank’s Statutes accordingly. The Bank received the approval of the Polish Financial Supervision Authority for the aforementioned amendment to the Bank’s Statutes. These updated regulations replaced the regulations approved by Resolution no. 120/23 of the Bank’s Supervisory Board dated 18 October 2023, concerning the adoption of the “Policy on the selection of the audit firm for conducting the statutory audit of the financial statements of Bank Pekao S.A. and the rules of cooperation with the audit firm, the statutory auditor and the supervisory authority" as well as the “Procedure for the selection of the audit firm for conducting the statutory audit of th e financial statements of Bank Pekao S.A.” The regulations mentioned above have been updated as follows: 1) “Policy on the selection of the audit firm for conducting the statutory audit of the financial statements of Bank Pekao S.A. and the rules of cooperation with the audit firm, the statutory auditor and the supervisory authority” – the document has been expanded to include the possibility of conducting sustainability reporting attestation (due to the relevant amendments introduced by the Act of 6 December 2024 on amendments to the Accounting Act, the Act on Statutory Auditors, Audit Firms and Public Supervision, and certain other acts).
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106 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 2) “Procedure for the selection of the audit firm for conducting the statutory audit of the financial statements of Bank Pekao S.A.” – the document has been expanded to include the possibility of purchasing sustainability reporting attestation services and am ended regarding the analysis of corruption risk (due to the relevant amendments introduced by the Act of 6 December 2024 on amendments to the Accounting Act, the Act on Statutory Auditors, Audit Firms and Public Supervision, and certain other acts). 3) “Policy on the provision of services by the audit firm conducting the audit or sustainability reporting, by entities affiliated with the auditor firm and by a member of the auditor firm's network, for permitted non -audit services” – the document has been e xpanded to include sustainability reporting attestation services (due to the relevant amendments introduced by the Act of 6 December 2024 on amendments to the Accounting Act, the Act on Statutory Auditors, Audit Firms and Public Supervision, and certain other acts). In accordance with the Selection Procedure, the process of selecting the audit firm is carried out through a tender procedure . As a result of the procedure organized by the Bank, the Audit Committee submits a recommendation to the Supervisory Board regarding the selection of the audit firm. This recommendation, unless it concerns the renewal of the audit mandate, includes at least two options for selecting the audit firm, along with justification and an indication of the preferred choice. In the case of extending the contract with the audit firm, the Audit Committee recommends that the Supervisory Board select the current audit firm. The Supervisory Board, after reviewing the recommendation and (in the case of non -renewal of the mandate) the preference of the Audit Committee, selects the audit firm, specifying the years for which the financial statements of the Bank and the consolidated financial statements of the Bank’s Capital Group, or the sustainability report, will be subject to statu tory audit by the selected audit firm. On 21 November 2025, the Supervisory Board adopted a resolution regarding the acceptance of the recommendation and the selection of the audit firm PricewaterhouseCoopers Polska Spółka z ograniczoną odpowiedzialnością Audyt sp.k. for the attestation of sustainability reporting of the Bank’s Capital Group for the years 2025–2028, with an option for extension for the years 2029–2030. Regarding the statutory audit of the Bank’s financial statements and the consolidated financial statements of the Bank’s Capital Group for the five financial years from 2024 to 2028, with an option to extend the contract for the following two financial years, 2029 and 2030, according to the Supervisory Board’s resolution of 7 November 2023, the audit firm carrying out the audit is PricewaterhouseCoopers Polska Spółka z ograniczoną odpowiedzialnością Audyt sp.k. The Services Provision Policy stipulates that the provision of permitted non -audit services by the audit firm conducting the audit, entities affiliated with the audit firm, or members of the audit firm’s network to the Bank requires the approval of the Audit Committee. Furthermore, the Audit Committee grants approval for the provision of permitted non -audit services to the subsidiaries of the Bank based on the subsidiary's request. An essential part of such a request is the consent of the subsidiary’s Audit Committee, which applies for approval. Entities belonging to the Bank's Capital Group are also required to obtain the consent of the Audit Committee of the parent entity (PZU S.A.) for the purchase of a permitted non -audit service. In 2025, the audit firm PricewaterhouseCoopers Polska Spółka z ograniczoną odpowiedzialnością Audyt sp.k. provided permitted non-audit services to the Bank and its subsidiaries. Before entering into an agreement for the provision of permitted non -audit services, the Audit Committee, the Audit Committee of the subsidiary (if a public interest entity), and the Audit Committee of the parent entity of the Bank assessed the independence of the audit firm and granted approval for the provision of these services. Nomination and Remuneration Committee In 2025, the Nomination and Remuneration Committee operated based on: 1) The Rules of Procedure of the Supervisory Board adopted by Resolution no. 116/23 of the Bank’s Supervisory Board of 18 October 2023, and the Rules of Procedure of the Nomination and Remuneration Committee of the Supervisory Board of Bank Polska Kasa Opieki Spółka Akcyjna adopted by Resolution no. 117/23 of the Bank’s Supervisory Board of 18 October 2023. 2) The Rules of Procedure of the Supervisory Board and the Rules of Procedure of the Nomination and Remuneration Committee of the Supervisory Board of Bank Polska Kasa Opieki Spółka Akcyjna adopted by Resolution no. 5/25 of the Bank’s Supervisory Board of 31 January 2025. Activities of the Nomination and Remuneration Committee The purpose of the Nomination and Remuneration Committee is to support the Supervisory Board in fulfilling its duties, including shaping the composition of the Bank's Management Board and overseeing the Bank’s Management Board’s policy regarding the selection and appointment of individuals for executive positions within the Bank. The Committee's activities are guided by prudent and stable risk, capital, and liquidity management, with particular attention paid to the long-term welfare of the Bank and the interests of the Bank’s shareholders.
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107 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 The tasks of the Nomination and Remuneration Committee include, but are not limited to: 1) adopting the diversity policy for the composition of the Bank’s Management Board and Supervisory Board, taking into account a broad range of characteristics and competencies required for individuals holding positions as members of the Management Board, 2) recommending candidates for the Management Board of the Bank, considering the necessary knowledge, competencies, and experience required for the effective management of the Bank, as well as the diversity of the Management Board's composition, 3) defining the scope of duties for candidates to the Management Board of the Bank, as well as the knowledge and competency requirements and the expected time commitment needed for the role, 4) determining the target representation of the underrepresented gender on the Management Board of the Bank and the Supervisory Board and developing a diversity policy for both boards aimed at achieving this target, 5) conducting a periodic assessment, at least once a year, of the structure, size, composition, and effectiveness of the Management Board of the Bank and recommending changes to the Supervisory Board, 6) conducting a periodic assessment, at least once a year, of the knowledge, competencies, and experience of the Management Board of the Bank as a whole, as well as individual members, and informing the Management Board about the results of this evaluation, 7) conducting periodic reviews of the Management Board’s policy regarding the selection and appointment of executive positions in the Bank and presenting recommendations to the Management Board in this regard, 8) presenting recommendations to the Supervisory Board regarding: a) the assessment of the individual suitability of candidates for the Management Board and Supervisory Board at the appointment stage, as well as current members of these bodies during their duties, in situations specified in the “Policy on the assessment of the suitability of proposed and appointed members of the Management Board, Supervisory Board and individuals holding key functions at Bank Polska Kasa Opieki Spółka Akcyjna,” b) the collective suitability of the Management Board of the Bank and the Supervisory Board to ensure the appropriate level of collegial management or oversight of the Bank, c) succession plans for members of the Management Board of the Bank to ensure continuity of management. In 2025, the Nomination and Remuneration Committee held 14 meetings. The Nomination and Remuneration Committee prepares a report on its activities quarterly, which includes information on matters discussed and acknowledged, as well as data regarding the number of members attending meetings and the number of resolutions passed. Composition of the Nomination and Remuneration Committee The Nomination and Remuneration Committee consists of 3 (three) to 7 (seven) members elected from among the members of the Supervisory Board. From 1 January to 5 March 2025, the composition of the Nomination and Remuneration Committee was as follows: 1) Mr Artur Nowak-Far – Chairman of the Committee, 2) Mr Bartosz Grześkowiak – Secretary of the Committee, 3) Mr Artur Olech – Member of the Committee, 4) Mr Jacek Nieścior – Member of the Committee, 5) Mr Witold Walkowiak – Member of the Committee, 6) Ms Magdalena Joanna Dziewguć – Member of the Committee. On 6 February 2025, Mr Artur Olech resigned from the position of Chairman of the Supervisory Board of the Bank and from the membership of the Bank's Supervisory Board, effective at the end of 5 March 2025. The resignation did not specify the reasons for stepping down. Accordingly, from 6 March to 8 May 2025, the composition of the Nomination and Remuneration Committee was as follows: 1) Mr Artur Nowak-Far – Chairman of the Committee, 2) Mr Bartosz Grześkowiak – Secretary of the Committee, 3) Mr Jacek Nieścior – Member of the Committee, 4) Mr Witold Walkowiak – Member of the Committee, 5) Ms Magdalena Joanna Dziewguć – Member of the Committee. On 6 March 2025, the Extraordinary General Meeting of the Bank, considering the assessment of meeting the eligibility requirements, appointed Mr Andrzej Klesyk to the composition of the Supervisory Board of the Bank for a joint three -year term, which began on 18 April 2024. On 9 May 2025, the Supervisory Board appointed Mr Andrzej Klesyk to the Nomination and Remuneration Committee, taking into account the individual suitability assessment.
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108 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 From 9 May to 5 November 2025, the composition of the Nomination and Remuneration Committee was as follows: 1) Mr Artur Nowak-Far – Chairman of the Committee, 2) Mr Bartosz Grześkowiak – Secretary of the Committee, 3) Mr Andrzej Klesyk – Member of the Committee, 4) Mr Jacek Nieścior – Member of the Committee, 5) Mr Witold Walkowiak – Member of the Committee, 6) Ms Magdalena Joanna Dziewguć – Member of the Committee. On 3 November 2025, Mr Andrzej Klesyk resigned from his position as Chairman of the Supervisory Board of the Bank and from his membership in the Supervisory Board of the Bank, effective at the end of the day on 5 November 2025. The resignation did not specify the reasons for stepping down. The Extraordinary General Meeting of the Bank on 6 November 2025, taking into account the assessment of the fulfilment of suitability requirements, appointed: 1) Mr Bogdan Benczak and 2) Ms Diana Dębowczyk to the Supervisory Board of the Bank for a joint three-year term of office, which commenced on 18 April 2024. For the period from 6 November to 26 November 2025, the composition of the Nomination and Remuneration Committee was as follows: 1) Mr Artur Nowak-Far – Chairman of the Committee, 2) Mr Bartosz Grześkowiak – Secretary of the Committee, 3) Mr Jacek Nieścior – Member of the Committee, 4) Mr Witold Walkowiak – Member of the Committee, 5) Ms Magdalena Joanna Dziewguć – Member of the Committee. On 27 November 2025, the Supervisory Board appointed Mr Bogdan Benczak and Ms Diana Dębowczyk to the Nomination and Remuneration Committee, taking into account the individual suitability assessment. For the period from 27 November to 31 December 2025, the composition of the Nomination and Remuneration Committee was as follows: 1) Mr Artur Nowak-Far – Chairman of the Committee, 2) Mr Bartosz Grześkowiak – Secretary of the Committee, 3) Mr Bogdan Benczak – Member of the Committee, 4) Ms Diana Dębowczyk – Member of the Committee, 5) Mr Jacek Nieścior – Member of the Committee, 6) Mr Witold Walkowiak – Member of the Committee, 7) Ms Magdalena Joanna Dziewguć – Member of the Committee. Mr Artur Nowak -Far, Mr Jacek Nieścior, Mr Witold Walkowiak and Ms Magdalena Joanna Dziewguć meet the independence criteria. Risk Committee In 2025, the Risk Committee operated based on: 1) The Rules of Procedure of the Supervisory Board, adopted by the Supervisory Board of the Bank's Resolution no. 116/23 of 18 October 2023, and the Rules of Procedure of the Risk Committee of the Supervisory Board of Bank Polska Kasa Opieki S.A., adopted by the Supervisory Board of the Bank's Resolution no. 119/23 of 18 October 2023. 2) The Rules of Procedure of the Supervisory Board and the Rules of Procedure of the Risk Committee of the Supervisory Board of Bank Polska Kasa Opieki S.A., adopted by the Supervisory Board of the Bank's Resolution no. 5/25 of 31 January 2025. Activities of the Risk Committee The mission of the Committee is to support the Supervisory Board in fulfilling its duties related to overseeing the risk management system and assessing its adequacy and effectiveness. In its activities, the Committee is guided by prudent and stable management of risk, capital, and liquidity, with particular attention to the long-term well-being of the Bank and the interests of its shareholders.
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109 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 The tasks of the Risk Committee include, among others, expressing opinions on: 1) the overall current and future risk readiness of the Bank, expressed in the form of risk appetite, 2) the risk management strategy developed by the Bank's Management Board, including policies related to credit, financial, and operational risks, 3) reports on the risk profile and the implementation of the risk management strategy presented by the Bank’s Management Board. Additionally, the Risk Committee supports the Supervisory Board in overseeing the implementation of the risk management strategy in the Bank's operations and verifies whether the general level of prices for liabilities and assets offered to cust omers fully reflects the Bank’s business strategy and risks. In 2025, the Risk Committee held 13 meetings. The Risk Committee prepares a report on its activities once per quarter, which includes information on the matters discussed, the information acknowledged, as well as data on the number of members attending the meetings and the number of resolutions adopted. Composition of the Risk Committee The Risk Committee consists of 3 (three) to 7 (seven) members selected from among the members of the Supervisory Board, with the majority of the members of the Risk Committee, including its Chairman, being independent members of the Supervisory Board. From 1 January to 24 January 2025, the composition of the Risk Committee was as follows: 1) Mr Krzysztof Czeszejko-Sochacki – Chairman of the Committee, 2) Mr Radosław Niedzielski – Member of the Committee, 3) Mr Jacek Nieścior – Member of the Committee, 4) Mr Witold Walkowiak – Secretary of the Committee, 5) Ms Magdalena Joanna Dziewguć – Member of the Committee. On 24 January 2025, Ms. Magdalena Joanna Dziewguć resigned from the position of Committee Member, effective on the day of resignation. Therefore, from 24 January to 5 November 2025, the composition of the Risk Committee was as follows: 1) Mr Krzysztof Czeszejko-Sochacki – Chairman of the Committee, 2) Mr Radosław Niedzielski – Member of the Committee, 3) Mr Jacek Nieścior – Member of the Committee, 4) Mr Witold Walkowiak – Secretary of the Committee. On 3 November 2025, Mr Radosław Niedzielski submitted his resignation from the Supervisory Board of the Bank, effective at the end of 5 November 2025. Therefore, from 6 November to 26 November 2025, the composition of the Risk Committee was as follows: 1) Mr Krzysztof Czeszejko-Sochacki – Chairman of the Committee, 2) Mr Jacek Nieścior – Member of the Committee, 3) Mr Witold Walkowiak – Secretary of the Committee. On 6 November 2025, the Extraordinary General Meeting of the Bank, considering the assessment of meeting the eligibility requirements, appointed Ms Diana Dębowczyk to the composition of the Supervisory Board of the Bank for a joint three -year term, which began on 18 April 2024. On 27 November 2025, the Bank's Supervisory Board appointed Ms. Diana Dębowczyk to the Risk Committee, following an individual suitability assessment. Therefore, from 27 November 2025 to 31 December 2025, the composition of the Risk Committee was as follows: 1) Mr Krzysztof Czeszejko-Sochacki – Chairman of the Committee, 2) Ms Diana Dębowczyk – Member of the Committee, 3) Mr Jacek Nieścior – Member of the Committee, 4) Mr Witold Walkowiak – Secretary of the Committee. Mr Krzysztof Czeszejko-Sochacki, Mr Jacek Nieścior and Mr Witold Walkowiak meet the independence criteria.
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110 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 10. Description of the diversity policy applied to the governing, managing, and supervisory bodies of the Bank, particularly with regard to age, gender, education, and professional experience, the objectives of this diversity policy, how it is implemented, and its effects during the reporting period 24 On 3 November 2020, the Management Board of the Bank adopted by resolution, and on 4 November 2020, the Supervisory Board of the Bank approved by resolution the “Gender equality and diversity policy with regard to the Bank’s employees, including Members of the Supervisory Board, Members of the Management Board and persons holding key functions at Bank Polska Kasa Opieki Spółka Akcyjna” (hereinafter the “Policy”). By Resolution no. 34, the Ordinary General Meeting of the Bank, held on 15 June 2022, adopted t he Policy as regards the members of the Supervisory Board of Bank Polska Kasa Opieki Spółka Akcyjna, excluding § 8 of the Policy. The above-mentioned resolution of the Ordinary General Meeting stipulates that: “In order to ensure sufficient diversity in th e Supervisory Board in terms of gender, the Bank will aim to achieve a 30% target as the minimum value of the proportion of each gender in the Supervisory Board. The Bank will make every effort to achieve this target at the earliest possible date, but no earlier than at the end of the current term of office of the Supervisory Board.” The Policy defines the Bank’s strategy in terms of diversity management for the Bank's employees, including the differentiation in the selection of members of the Supervisory Board, members of the Management Board, and persons holding Key Functions at the Bank. It also outlines guidelines to ensure that the Bank’s employees have opportunities to manage their careers, achieve success, and have their performance evaluated based on individual accomplishments, regardless of gender. The aim of the Bank’s diversity strategy is to ensure the high-quality performance of tasks by the Bank’s employees, including the selection of competent individuals for positions in the Supervisory Board, Management Board, and Key Functions at the Bank, applying primarily objective merit-based criteria and considering the benefits of diversity. The Bank's diversity strategy encompasses and utilizes differences to achieve the best results, which, in addition to knowledge, skills, and professional experience, stem from education, geographical origin, gender, and age. The diversity strategy regarding the selection of Supervisory Board members/M anagement Board members/persons holding Key Functions at the Bank is implemented in the processes of recruitment, suitability assessment and succession planning. The current percentage of women in leadership positions at the Bank is 54.3%, and in senior management positions, it is 34.4%. The application of the diversity policy is relevant in decision -making processes regarding: external recruitment, internal nominations, succession planning, in compliance with equal treatment regulations in employment relations, which include the principle of gender equality. Given the regulations adopted in this regard and the importance placed by the Management Board of the Bank on the values presented in the Policy, it is subject to continuous review. From 2021 to 2025, the gender distribution in the Management Board of the Bank was as follows: 31.12.2021 31.12.2022 31.12.2023 31.12.2024 31.12.2025 No. of persons % No. of persons % No. of persons % No. of persons % No. of persons % Women 1 11% 1 11% 1 11% 1 16.7% 1 12.5% Men 8 89% 8 89% 8 89% 5 83.3% 7 87.5% Total 9 100% 9 100% 9 100% 6 100% 8 100% From 2021 to 2025, the gender distribution in the Supervisory Board of the Bank was as follows: 31.12.2021 31.12.2022 31.12.2023 31.12.2024 31.12.2025 No. of persons % No. of persons % No. of persons % No. of persons % No. of persons % Women 5 55.5% 5 55.5% 5 55.5% 1 12.5% 2 22.2% Men 4 44.5% 4 44.5% 4 44.5% 7 87.5% 7 77.8% Total 9 100% 9 100% 9 100% 8 100% 9 100% 24 § 72(7)(5)(m) of the Regulation of the Minister of Finance of 6 June 2025.
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111 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 13. Sustainability Statement of the Bank Pekao S.A. Group for 2025 13.1 General information 13.1.1 Basis for preparation of the Sustainability Statement [BP-1] [BP-2] We have prepared the content of the Sustainability Statement of the Bank Pekao Group (hereinafter: the Sustainability Statement) on the basis of the provisions of: • the Accounting Act of 29 September 1994 (Journal of Laws 1994 No. 121 item 591, as amended), implementing into the Polish legal order the provisions of the Corporate Sustainability Reporting Directive (hereinafter: CSRD ), • Regulation of the European Parliament and of the Council (EU) of 31 July 2023 supplementing Directive 2013/34/EU of the European Parliament and of the Council as regards sustainability reporting standards (European Sustainability Reporting Standards, hereinafter: the ESRS Regulation or: ESRS). The Pekao Group (hereinafter: the Pekao Group) reports non-financial data on an annual basis. The Sustainability Statement includes sustainability information concerning the Pekao Group for the period from 1 January 2025 to 31 December 2025. The data were consolidated using the full consolidation method. The scope of consolidation is consistent with the financial statements. In the Sustainability Statement, we have also disclosed information with reference to the provisions of Regulation (EU) 2020/852 of the European Parliament and of the Council of 18 June 2020 on the establishment of a framework to facilitate sustainable investment, and in accordance with Commission delegated regulations 2023/2485 and 2023/2486 (hereinafter: taxonomy disclosure). The Pekao Group comprises the following entities: Bank Polska Kasa Opieki Spółka Akcyjna (hereinafter: the Bank) as the parent entity, and subsidiaries and indirect subsidiaries, financial institutions operating in the markets of banking, asset management, brokerage services, transaction advisory, leasing and factoring. In addition, the Bank holds shares and equity interests in associates and minority interests. Structure of the Pekao Group in 2025 - subsidiaries and indirect subsidiaries: NAME REGISTERED OFFICE SCOPE OF ACTIVITY Pekao Bank Hipoteczny S.A. Warsaw mortgage bank Pekao Leasing Sp. z o.o. Warsaw leasing services PEUF Sp. z o.o. Warsaw auxiliary financial Pekao Investment Banking S.A. Warsaw brokerage Pekao Inwestycje Dłużne Sp. z o.o. w organizacji Warsaw auxiliary financial Pekao Faktoring Sp. z o.o. Lublin factoring services Centrum Kart S.A. Warsaw auxiliary financial Pekao Financial Services Sp. z o.o. Warsaw transfer agent Pekao Direct Sp. z o.o. Warsaw body leasing Pekao Property S.A. (w likwidacji) Warsaw property development activities FPB Media Sp. z o.o. w upadłości Warsaw property development activities Pekao Fundusz Kapitałowy Sp. z o.o. Warsaw business advisory Pekao Investment Management S.A. Warsaw holding Pekao TFI S.A. Warsaw asset management
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112 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Structure of the Pekao Group in 2024 - subsidiaries and indirect subsidiaries: NAME REGISTERED OFFICE SCOPE OF ACTIVITY Pekao Bank Hipoteczny S.A. Warsaw mortgage bank Pekao Leasing Sp. z o.o. Warsaw leasing services PEUF Sp. z o.o. Warsaw auxiliary financial Pekao Investment Banking S.A. Warsaw brokerage Pekao Faktoring Sp. z o.o. Lublin factoring services Centrum Kart S.A. Warsaw auxiliary financial Pekao Financial Services Sp. z o.o. Warsaw transfer agent Pekao Direct Sp. z o.o. Cracow call centre services Pekao Property S.A. (w likwidacji) Warsaw property development activities FPB Media Sp. z o.o. w upadłości Warsaw property development activities Pekao Fundusz Kapitałowy Sp. z o.o. w likwidacji Warsaw business advisory Pekao Investment Management S.A. Warsaw holding Pekao TFI S.A. Warsaw asset management In the Sustainability Statement, we refer to the value chain at both the upstream and downstream levels of the Pekao Group. However, our metrics do not include value chain data estimated based on indirect sources. We also do not make use of the option to omit specific information concerning intellectual property, know-how or the effects of innovation; however, we do take into account the medium- and long-term time horizons defined in ESRS. Forward-looking information in the individual chapters of the Sustainability Statement, which we present largely in the form of estimates, is provided based on the current legal status and current knowledge. In our approach to sustainability disclosures, we apply an approach aligned with stakeholders’ expectations. At the same time, we consider the risk of uncertainty of the presented estimates, arising – in particular – from continuous changes in the economic, geopolitical and market situation, as well as climate change. Our priority in the Pekao Group’s sustainability reporting is to base disclosures on reliable data. In cooperation with entit ies in the value chain, we strive to obtain data of the best possible quality. We are aware that the quality of such data is significantly affected by external factors of a legislative, economic or market nature. In the double materiality assessment process and in the content of the Sustainability Statement, we have included forward-looking information and applied assumptions, forecasts and projections concerning, inter alia, climate risks, transition risks and opportunities. The forward -looking information reflects the current expectations of the Pekao Group and may be subject to uncertainty risk and to changes related to the economic , regulatory, market or climate situation. In areas where we did not have complete actual data available, we applied estimates in line with best market practices to ensure continuity and completeness of reporting. This applies primarily to Scope 3 emissions, including: purchased goods and services (category 1), capital expenditure (category 2), business travel using external means of transport (category 6), employees’ commuting to work (category 7) and emissions related to clients’ activities (category 15). For category 15, we applied the PCAF methodology – Partnership for Carbon Accounting Financials – due to limited access to actual data obtained from clients and, consequently, the estimated nature of the calculations. In the remaining categories, we used available cost data, volume data, internal data and the results of employee surveys. Estimates were also applied in the areas of electricity and heat consumption where full metering data were not available. In 2025, we refined the estimates by obtaining actual consumption data from some energy carr iers suppliers and conducting additional variance analysis against the previous reporting year. The Bank systematically improves the quality of information obtained and seeks to reduce the share of estimates following the development of reporting methods and regulatory requirements concerning sustainability development. After the end of the reporting period for 2024, there were no material events subject to disclosure in the Sustainability Statement and no reporting errors for 2024 were identified. In the Sustainability Statement for 2025, we adopted a change in the presentation of information on the gender pay gap – we adjusted the indicator developed by the working group at the Polish
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113 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Association (ZBP). Additionally, an insignificant adjustment was made regarding the number of senior management staff in the Bank for 2024. Detailed information on the methodology for calculating the pay gap can be found in the section Pay metrics (gender pay gap and total remuneration) of the Unit [S1-16] and changes in the number of senior management staff can be found in the section Diversity metrics of the Unit [S1-9]. In 2025, we also made changes to the calculation of the carbon footprint in scopes 1 and 2; therefore, we will present updated results for 2024 in the Sustainability Statement. Detailed information in this regard can be found in the section on Gross Scope 1, 2, and 3 greenhouse gas emissions and total greenhouse gas emissions [E1-6]. External assurance Our Sustainability Statement was subject to a limited assurance engagement carried out by the audit firm PricewaterhouseCoopers Polska spółka z ograniczoną odpowiedzialnością Audyt sp. k., with its registered office in Warszawa (KRS: 0000750050), in accord ance with National Standard on Assurance Engagements 3002PL “Assurance engagements other than audits or reviews of historical financial information” and “National Standard on Assurance Engagements Other than Audit and Review 3000 (Z) as adopted from the International Standard on Assurance Engagements 3000 (revised) ” – assurance engagements other than audits and reviews of historical financial information. 13.1.2 Corporate governance We are one of the largest financial institutions in the Central and Eastern Europe region and the second largest universal bank in Poland, with over 352 billion in assets. Since 2017, we have been a part of the PZU S.A. Group (hereinafter: the PZU Group). We conduct business in the territory of the Republic of Poland. Our head office is located in Warszawa, at ul. Żubra 1 (posta l code: 01-066). Our Bank operates as a joint -stock company, which has been liste d on the Warsaw Stock Exchange since 1998. We oper ate under the provisions of law, in particular the Banking Law Act and the provisions of the Commercial Companies Code, and the provisions of the Statute of Bank Pekao (hereinafter: the Bank’s Statute), the consolidated text of which is available at [website]. The Polish Financial Supervision Authority (hereinafter: KNF) supervises the Bank’s operations. 13.1.2.1 Roles of the administrative, management and supervisory bodies [GOV-1] The organisational structure of the Bank and the entities within the Pekao Group corresponds both to the scale and the nature of the business conducted. General Meeting of Shareholders The highest body of the Bank is the General Meeting of Shareholders (hereinafter: GMS). The scope of powers of the GMS is defined in statutory provisions, in supervisory recommendations of supervisory authorities and in the Bank’s Statute. Resolutions are adopted by an absolute majority of votes, subject to the provisions of the Commercial Companies Code and the Bank’s Statute. Supervisory Board of the Bank The Supervisory Board of the Bank (hereinafter: the Supervisory Board) exercises ongoing, comprehensive supervision over the Bank’s operations. The organisation and the manner of operation of the Supervisory Board are set out in the Rules of Procedure of the Supervisory Board of Bank Pekao S.A. (hereinafter: the Rules of Procedure ). Pursuant to the provisions of the Rules of Procedure, it comprises from seven to nine members appointed by the GMS for a joint term of office lasting three full financial years. As of 31 December 2025, the Supervisory Board comprised nine members, including seven men (71.4%) and two women (28.6%), with five members (55.6% of the composition of the supervisory body) independent. The ratio of Supervisory Board Members by gender (number of women relative to the number of men on the Supervisory Board) was 2:7. The Chair of the Supervisory Board is not part of the Bank’s management staff; at the same time, none of the Supervisory Board Members belongs to under -represented social groups. In the previous reporting period, as of 31 December 2024, the Superivisory Board comprised eight members, including seven men (85,7%) and one woman (14,3%), with a ratio of 1:7.
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114 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 The composition of the Supervisory Board of the Bank was as follows: AS AT THE DATE OF SUBMISSION OF THE REPORT FOR 2025 31.12.2025 Bogdan Benczak Chair of the Supervisory Board Bogdan Benczak Chair of the Supervisory Board Bartosz Grześkowiak Deputy Chair of the Supervisory Board Bartosz Grześkowiak Deputy Chair of the Supervisory Board Artur Nowak-Far Deputy Chair of the Supervisory Board Artur Nowak-Far Deputy Chair of the Supervisory Board Magdalena Joanna Dziewguć Secretary of the Supervisory Board Magdalena Joanna Dziewguć Secretary of the Supervisory Board Krzysztof Czeszejko-Sochacki Member of the Supervisory Board Krzysztof Czeszejko-Sochacki Member of the Supervisory Board Diana Dębowczyk Member of the Supervisory Board Diana Dębowczyk Member of the Supervisory Board Jacek Neścior Member of the Supervisory Board Jacek Neścior Member of the Supervisory Board Witold Walkowiak Member of the Supervisory Board Witold Walkowiak Member of the Supervisory Board Mariusz Jaszczyk Member of the Supervisory Board Mariusz Jaszczyk Member of the Supervisory Board The Supervisory Board performs its duties collectively and, to streamline its work or perform specific activities, may establ ish committees and teams from among its members. We have included a description of the key competencies and tasks of individual committees in the sustainability context in the section: Information provided to the administrative, management and supervisory bodies of the undertaking and sustainability-related matters addressed by them [GOV-2]. Management Board of the Bank The tasks of the Management Board of Bank Pekao (hereinafter: the Management Board) primarily include representing the Bank and managing the Bank’s affairs. The scope of the Management Board’s activities covers all matters not reserved to the powers of other bodies under the Bank’s Statute or generally applicable provisions of law. The Management Board comprises from five to nine (executive) members, appointed for a joint term of office lasting three full financial years. As of 31 December 2025, the Management Board comprised 8 members, including 7 men (85.7%) and one woman (14.3%), which represents a ratio of women to men of 1:7. None of the members of the Management Board was a representative of employees and other persons performing work. In the previous reporting period, as of 31 December 2024, the Management Board comprised 6 members, including 5 men (80%) and one woman (20%), with a ratio of 1:5. In the previous reporting period, as of 31 December 2024, the Management Board comprised 6 members, including 5 men (80%) and one woman (20%), with a ratio of 1:5. As of 31 December 2025, a total of three women (21.4%) and fourteen men (78.6%) served on the Management Board and the Supervisory Board. The ratio of Management Board and Supervisory Board members by gender (number of women in relation to the number of me n) was 3:14. In the previous reporting period, as of 31 December 2024, the Management Board and the Supervisory Board comprised of two women (16,7%) and twelve men (83,3%), what means the number of wo men to number of men ratio 2:12. Suitability Assessment We are obliged to apply the Policy for the selection of candidates for the function of a member of the Management Board and Key Function and for the suitability assessment of proposed and appointed members of the Management Board, the Supervisory Board and key function holders at Bank Polska S.A. (hereinafter: the Selection and Suitability Assessment Policy), approved by the Supervisory Board on 30 December 2020. This regulation is intended to ensure a uniform, optimal process for selecting candidates for members of the Management Board. The candidate selection process, in line with the assumptions of the Selection and Suitability Assessment Policy, is intended to ensure the appointment to the Management Board of persons having the necessary knowledge, experience and skills and enjoying a good reputation. The Selection and Suitability Assessment Policy also indicates the criteria for assessing the individual and collective suitability of candidates and members of the Management Board, the Supervisory Board and persons performing key functions at the Bank in the course of performing their functions. In a ddition, it defines events resulting in the need to carry out a suitability assessment, the course of the suitability assessment process, including roles and tasks in the process, and the effects of th e assessment, which include remedial measures to be applied in order to ensure compliance with the suitability requirements.
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115 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 All members of the Management Board and the Management Board as a whole were assessed by the Supervisory Board for compliance with the requirements referred to in Article 22aa of the Act of 29 August 1997 – Banking Law and the suitability requirements referred to in the Selection and Suitability Assessment Policy. In 2025, we carried out in the Bank both initial and subsequent individual suitability assessments and collective suitability assessments of members of the Supervisory Board. In addition, we carried out suitability assessments resulting from changes in functions performed by members of the Bank’s bodies. Subsidiaries have implemented suitability assessment policies in accordance with applicable provisions of law. Responsibility for the sustainability area We are aware that a responsible approach to environmental, social and corporate governance issues (hereinafter: ESG) is an integral element of building the long-term value of our organisation. Therefore, we consistently integrate these aspects into our business strategy – The Bank Pekao Strategy 2025-2027 (“...the only way is up!”) (hereinafter: the Strategy), while supporting our clients in their transformation towards sustainability. When presenting the sustainability area, we are guided by transparency and the quality of disclosures; we ensure that actions are consistent with internal ESG policies. We seek to report in a clear, understandable manner, tailored to the needs of our stakeholders. We place particular emphasis on ensuring that communication – both external and internal – supports the understanding of our objectives and progress in implementing ESG commitments. At the level of the Management Board and the Supervisory Board, we actively engage in setting strategic directions, including those related to the impact of our operations on our environment and the risks and opportunities related to ESG. We regularly analyse, and, where necessary, update and approve, key policies and internal control models in this respect. We also participate in the risk identification and risk management process, in particular in relation to risks associated with climat e change. We prepare periodic reports for the Management Board and the Supervisory Board on the implementation of the Strategy, including progress in achieving ESG objectives. Thanks to ongoing access to knowledge and the exchange of experience with sustainability leaders, we are able to continuously improve the quality of our actions and effectively respond to dynamically changing legal, economic and social conditions. Our engagement also includes actions to develop human capital, support society, promote ethics in business and maintain the highest standards of corporate governance. In this way, we systematically strengthen our market position as an organisation that is responsible, aware of its role and well prepared for the challenges of a changing environment. In the area of sustainability, we have introduced the following division of tasks among members of the Bank’s Management Board: • responsibility for ESG risk management lies with Marcin Gadomski - Vice-President of the Management Board supervising the Risk Management Division, • responsibility for matters related to sustainable finance lies with Robert Sochacki - Vice-President of the Management Board supervising the Corporate Banking, Markets and Investment Banking Division and Łukasz Januszewski – Vice- President of the Management Board supervising the Enterprise Banking Division, • responsibility for sustainability reporting (ESG reporting) lies with Dagmara Wojnar - Vice-President of the Bank’s Management Board supervising the Finance Division. ESG Council The ESG Council, established by a resolution of the Bank’s Management Board in 2020, is responsible for coordinating issues related to ESG, including sustainability reporting, and for supporting the Management Board. The main tasks of the ESG Council (hereinafter: the ESG Council) include: • approval of ESG documents (results of the double materiality assessment, the transition plan, self -assessment of compliance with ESG requirements), • monitoring the management of impacts, risks and opportunities, • setting directions for the development of sustainable banking products and services, • analysing and providing opinions on ESG initiatives at the request of the Bank’s organisational units, • supervising progress and the consistency of communication activities throughout the organisation in the area of sustainability.
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116 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 The Council comprises four members of the Management Board: • Marcin Gadomski - Vice-President of the Management Board supervising the Risk Management Division. Chair of the ESG Council, • Dagmara Wojnar - Vice-President of the Bank’s Management Board supervising the Finance Division. Vice -Chair of the ESG Council, • Robert Sochacki - Vice-President of the Management Board supervising the Corporate Banking, Markets and Investment Banking Division. Member of the ESG Council, • Błażej Szczecki - Vice-President of the Management Board supervising Branch Distribution, Private Banking and Operations Division. Member of the ESG Council, and representatives of the Bank’s units key to ESG (both business and support). Meetings of the Council are held at least once a quarter. As part of supervising impacts, risks and opportunities, the ESG Council performs the following activities: • identifying ESG impacts, risks and opportunities, • reviewing and assessing ESG risks and opportunities, including determining the probability of ESG risks occurring and their potential impact on the Bank’s operations, mitigation of such risks, as well as classification of opportunities taking into account the assessment of potential benefits arising from the identified ESG opportunit ies and their impact on the Bank’s strategy, • continuous monitoring: regular tracking of the identified ESG risks and opportunities and their dynamic changes. Competencies of the Management Board and the Supervisory Board Sustainability is a permanent focus and area of engagement for members of our organisation. Sustainability -related matters are consistently taken into account by the Management Board, the Supervisory Board and the Bank’s senior management (understood as persons holding the most senior managerial positions below the Management Board), both in the process of setting strategic directions and as part of activities undertaken in line with adopted policies. More information on monitori ng sustainability-related impacts, risks and opportunities can be found in the subsection Information provided to the administrative, management and supervisory bodies of the undertaking and sustainability -related matters addressed by them in section [Policies and action taken for IRO management]. Members of the Bank’s management staff, comprising the Management Board and the directors of relevant units, have extensive competencies acquired through many years of professional practice, which enables them to take decisions in the area of sustainability. Within the organisational structure, they are responsible for individual E, S and G areas in line with their competencies and scope of responsibility. At the same time, ensuring that they systematically update their knowledge in line with applicable regulations and best market practices, they continuously develop their skills in this respect. In accordance with the Training, Professional Development and Employee Development Activities Policy of Bank Pekao S.A. , we ensure broad access to various forms of learning and professional development for members of the Bank’s bodies (the Management Board and the Supervisory Board), in accordance with applicable rules – both at their request and at the request of an autho rised unit. Additionally, we support the participation of our representatives in external events (presentations, conferences) on the abov e topics and in training programmes dedicated to them. In 2025, members of the Bank’s bodies participated in the following sustainability training courses: • ESG – sustainability, • Prevention of and response to corruption. The key groups of issues discussed during these training courses included, inter alia: • ESG – the three pillars of sustainability, • The importance of ESG in business, • ESG in practice – what is worth knowing, • What is corruption and why is it dangerous?, • Risk areas and warning signals, • Responsibility and good practices.
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117 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 13.1.2.2 Information provided to the administrative, management and supervisory bodies of the undertaking and sustainability-related matters addressed by them [GOV-2] Results of the double materiality assessment as a source of information on impacts, risks, opportunities In 2025, we updated the double materiality assessment (hereinafter: DMA) in order to verify the key impacts, risks and opportunities resulting from our operations identified a year earlier. The DMA results obtained were presented to the Council at the meeting on 10 October 2025 and were then accepted and formally adopted on 15 October 2025. For more information on the double materiality assessment process itself and its results, please refer to [IRO-1]. Policies and actions taken for IRO management In 2025, we implemented mechanisms in the Bank designed to structure processes related to sustainability reporting. Under these mechanisms, we defined the manner of defining impacts, risks and opportunities (hereinafter: IRO), managing them and monitoring them. In doing so, we took into account tasks and responsibilities of participants in the above process, including, inter alia: information flows, approval of work results, and decision -making by the Bank’s bodies (the Management Board and the Supervisory Board) and the ESG Council. We have set out these matters in the Procedure for sustainability reporting in the Bank Pekao Group (hereinafter: the ESG Reporting Procedure), which covers the following matters: • rules, scope and responsibilities related to the preparation, verification and publication of the Sustainability Statement, • rules, stages, participants, division of roles and competencies, and expected outcomes in the double materiality assessment process. In accordance with ESG Reporting Procedure, we designate the unit responsible for organising and coordinating the process, initiating each stage and consolidating information, resulting in a summary of the results of the impact assessment and financial materiality. Approval by voting and, accordingly, adoption of the double materiality assessment result by the ESG Council are the stage finalising the double materiality assessment process, • a system and rules for managing impacts, risks and opportunities to ensure the Bank’s sustainable operations in the environmental, social and governance area. The identification and classification of impacts, risks and opportunities did not necessitate the creation of new, separate procedures. IRO management has been fully integrated into the Bank’s existing management and control system, including the risk management system (also covering ESG risk), the internal control system and the strategic and operational planning framework. Topic owners and substantive units responsible for ongoing monitoring and reporting are involved in this process. ESG risk is embedded in existing policies, procedures and risk assessment and monitoring mechanisms. As part of implementing CSRD and ESRS requirements, the manner of qualifying and reporting non-financial risks was specified in more detail, without creating separate procedures dedicated exclusively to IRO. Environmental and social impacts are managed within existing operational, regulatory and compliance processes. Topic owners are responsible for the ongoing management of impact-generating activities, including their mitigation or enhancement, in line with applicable regulations and established Bank processes. Opportunity management – particularly with respect to developing the green portfolio, new products and ESG innovations – is carried out within existing product and credit policies and business processes. No new, separate procedures dedicated to opportunities have been created. The above IRO activities are consistent with the broader direction of change implemented in the Bank, one element of which is the adoption, in December 2025, of the Transition Plan of the Bank Pekao Group (hereinafter: Transition Plan). This Plan constitutes the implementation of the requirements of Article 76(2) CRD and was prepared in accordance with the requirements of Chapter 6 of the EBA Guidelines. The overarching objective of the Transition Plan is to manage ESG risks identified by the Bank as material in the short -, medium- and long -term perspective, in line with the Pekao Group’s overall business strategy and risk appetite, while the objectives and actions set out there in constitute a tool for active management of climate -related transition risk in the credit portfolio. The Transition Plan provides for 4 KPI reported to the Bank’s Management Board and 44 KPI reported to the ESG Council. More information on the Transition Plan can be found in the subsection [Transition Plan for climate change mitigation]. Sustainability information provided to the Management Board In 2025, the Management Board received information – reports, covering mostly IRO elements such as, inter alia: • arranging financing for new sustainable projects, • supporting our clients’ energy transition and the transition to a low-carbon economy,
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118 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 • implementing a range of activities targeted at climate neutrality, • ensuring employee development with respect for diversity and creating an attractive workplace as the foundation of our operations, • reducing the gap between the average remuneration of women and men, • education of society and raising environmental awareness, • developing the Bank while maintaining high standards of corporate governance and an ethical approach to business. Additionally, in the area of risk – in accordance with internally applicable regulations and established reporting processes – the Bank’s Management Board is informed on a quarterly basis about: • utilisation of the strategic limit for ESG risk at the level of the Bank and the Pekao Group, • the level of implementation of KPI defined in the Strategy. Certain IRO areas are also taken into account when supervising the Strategy, making decisions regarding risk management processes or decisions regarding major transactions, e.g. setting terms/limits for financing projects that have a positive impact on the environment. In executing these processes, the Management Board makes decisions that ensure an optimal balance between regulatory requirements, ESG-related risks, and overall organizational performance. Sustainability information provided to the ESG Council The ESG Council, in accordance with internally applicable regulations and reporting processes, is informed quarterly about the following matters: • the level of key ESG risk indicators at the level of the Bank, • the correctness of asset labelling for the purposes of calculating selected Strategy KPIs in the ESG area, • implementation of Strategy objectives in the ESG area, • monitoring of compliance with requirements. In 2025, the main risk-related topics addressed by the ESG Council concerned: • the results of monitoring strategic ESG risk indicators within the ESG risk management system for the exposures portfolio, with particular focus on transition risk related to greenhouse gas emissions in Scope 3, category 15 (Investments), • information on disclosures published by the Bank concerning ESG risk. In addition, the ESG Council assessed the implementation of strategic directional actions in the area of opportunities relate d to selected sustainability aspects, such as, inter alia: • development of products and services supporting clients’ transformation towards sustainability, • building the Bank’s image as a responsible institution supporting clients in their transformation, • cooperation with industry organisations involved in sustainability, e.g. UNGC, • management of the Bank’s internal processes. The ESG Council also received detailed information concerning: • the results of the double materiality assessment together with material IRO, • the current status of tasks in the area of sustainability reporting, • addressing UKNF (Office of the Polish Financial Supervision Authority) expectations regarding supervisory expectations for commercial banks, • the implementation status of a strategic project in the ESG area. The ESG Council also receives, on an annual basis, information regarding the self -assessment of compliance with applicable ESG requirements. The self -assessment includes information on the degree of implementation of ESG aspects within the Strategy. In October 2025, the ESG Council approved the list of IRO, which forms the basis for preparing this Sustainability Statement. In accordance with the rules of procedure of the ESG Council, which acts as an advisory body to the Management Board, the ESG Council was informed about the implementation of due diligence and about the results and effectiveness of managing material impacts, risks and opportunities (IRO).
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119 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Once a year, the ESG Council reviews the management of impacts, risks and opportunities related to the Group’s activities. This review is based on information provided by units responsible for the areas in which material impacts, risks and opportunities were identified (as determined in the double materiality assessment). Data on results and the effectiveness of policies, actions, metrics and targets implemented in response to these impacts, risks and opportunities are also taken into account. Sustainability information provided to the Supervisory Board and committees operating under the Supervisory Board The Supervisory Board approves the Financial Statements and the Management Report, including the Sustainability Statement. The tasks of the Supervisory Board include appointing the Supervisory Board Audit Committee (hereinafter: the Audit Committee), the Super visory Board Nomination and Remuneration Committee and the Supervisory Board Risk Committee, whose task is to monitor specific areas of the Bank’s activities. The Audit Committee is informed on sustainability issues not less than once a year, and supports the Supervisory Board in fulfilling its sustainability obligations by: • monitoring the financial reporting process and the sustainability reporting process, as well as monitoring compliance with laws and procedures governing the Bank’s operations, • monitoring the results of the double materiality assessment as an element of the sustainability reporting process and their impact on the scope and content of non-financial disclosures, • monitoring the effectiveness of internal control systems and risk management systems, and internal audit, in particular in the area of sustainability reporting, • overseeing the process of performing statutory audit activities, in particular the audit or assurance of sustainability reporting carried out by the audit firm, • controlling and monitoring the independence of the statutory auditor and the audit firm, in particular where the audit firm provides services to a public interest entity other than audit and assurance of sustainability reporting, • informing the Supervisory Board of the results of the audit or assurance of sustainability reporting and explaining how that audit or assurance contributed to the reliability of financial reporting and sustainability reporting of the group in a publi c interest entity, as well as indicating the role of the Audit Committee in the audit or assurance process, • performing other tasks set out in applicable provisions of law. The Supervisory Board Nomination and Remuneration Committee supports the performance of the Supervisory Board’s tasks by: • submitting proposals regarding the setting of terms of agreements governing the employment relationship or another legal relationship between members of the Management Board and the Bank, including remuneration for members of the Management Board, as well as proposals regarding the approval of the policy on variable components of remuneration of persons holding managerial positions in the Bank in accordance with separate regulations, and for the purpose of submitting to the GMS proposals on the remuneration of members of the Supervisory Board, • preparing recommendations regarding compliance with suitability requirements for the appointment of members of the Management Board and members of the Supervisory Board in accordance with separate regulations, • preparing a report for the GMS on the assessment of the functioning of the remuneration policy in the Bank. 13.1.2.3 Incorporation of sustainability-related performance in incentive schemes [GOV-3] Optimal management and oversight of the Bank’s operations require us to take into account not only the present perspective, but also the strategic vision and possible scenarios of future scenarios, including challenges related to the sustainable transformation of the economy. For this reason, we have regulated the remuneration principles in the Bank by adopting the Remuneration Policy of the Members of the Supervisory Board of the Bank and the Management Board of Bank Polska Kasa Opieki Spółka Akcyjna (hereinafter: the Remuneration Policy of the Members of the Supervisory Board and the Management Board). The Remuneration Policy of the Members of the Supervisory Board and the Management Board was prepared by the Management Board and subsequently approved by the Supervisory Board, following prior review by the Supervisory Board Nomination and Remuneration Committee and the Supervisory Board Risk Committee. This document is adopted by resolution of the GMS at least once every four years, and each material amendment requires re -adoption by way of a resolution. The dedicated Supervisory Board Nomination and Remuneration Committee is responsible for reviewing and monitoring the Remuneration Policy of the Members of the Supervisory Board and the Management Board and supporting other Bank bodies in shaping and implementing it. The role of the Supervisory Board Risk Committee, in turn, is to assess whether the incentive
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120 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 system described in the Remuneration Policy of the Members of the Supervisory Board and the Management Board – and practice arising from it – takes into account the institution’s risk, capital and liquidity as well as the likelihood and time horizon of generating profits. In the remuneration strategy for members of the Management Board, we have adopted the objective of ensuring a competitive, transparent and effective pay system that supports the organisation’s development, strengthens its financial stability and enhances c redibility among a wide group of stakeholders. Accordingly, we engage individuals with high substantive qualifications, impeccable reputation and appropriate experience in the work of the Management Board. This gives us assurance that the organisation’s op erations are managed in accordance with corporate governance principles, legal provisions and supervisory requirements for the financial sector. The objectives of the Remuneration Policy of the Members of the Supervisory Board and the Management Board are: • supporting proper and effective risk management, • not encouraging the taking of excessive risk beyond the overall acceptable level of risk approved by the Supervisory Board, • implementing the Bank management strategy and the risk management strategy, • supporting mechanisms for managing conflicts of interest occurring in the Bank’s operations and limiting conflicts of interest, • ensuring that remuneration and any related terms of employment that affect remuneration, including those concerning the terms for granting and paying remuneration, are gender-neutral, i.e. are not differentiated by gender. The Remuneration Policy of the Members of the Supervisory Board and the Management Board specifies criteria (indicators) which, in a manner consistent with our long -term strategy, take into account: social interests and the Bank’s environmental protection commitments, undertaking actions aimed at preventing adverse social effects of the Bank’ s operations and minimising or reversing them, as well as the strategy for incorporating sustainability risks into decision -making processes for investments. In the Bank, we do not apply a separate variable remuneration indicator dependent solely on the achievement of ESG objectives. Nevertheless, for management purposes, a provision concerning compliance with regulatory ESG requirements is taken into account. This objective is based on the achievement of indicators, including, inter alia, TCR, Tier 1, LCR and NSFR, and constitutes part of a broader objective in the area of management and achieving synergies within the Pekao Group. In 2025, objectives were not linked to the defined material impacts, risks and opportunities, and climate -related matters, including Scope 3 greenhouse gas emissions reduction targets, have not yet been reflected in variable remuneration. Members of the Supervisory Board are entitled to remuneration in a fixed monthly amount and are not entitled to additional variable remuneration. Total remuneration of a member of the Management Board consists of a fixed component, being the basic monthly remuneration, and a variable component, being supplementary remuneration for the financial year. Variable remuneration of a member of the Management Board depends on the level of achievement of established management objectives (including, inter alia, increasing the Bank’s value, improving economic and financial indicators) and may not exceed 100% of the fixed remuneration of that member of the Management Board in the previous financial year for which the amount of the variable remuneration due is calculated. 13.1.2.4 Due diligence statement [GOV-4] In all its activities, the Pekao Group applies and continuously develops due diligence principles in accordance with the UN Guiding Principles on Business and Human Rights, the OECD Guidelines for Multinational Enterprises and banking sector regulations. Due diligence is an ongoing process under which we identify and prioritise actual and potential adverse impacts on the environment, society and human rights, as well as take preventive and mitigating actions, monitor their effectiveness and report results. This process is an integral part of the Strategy, the business model and sustainability-related activities. In the table below we present the elements of the due diligence process that we describe in the Sustainability Statement.
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121 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Elements of due diligence: KEY ELEMENTS OF THE DUE DILIGENCE PROCESS POINTS IN THE SUSTAINABILITY STATEMENT a) Due diligence statement GOV-2, GOV-3, SBM-3 b) Interests and opinions of stakeholders GOV-2, GOV-5, SBM-1, SBM-2, IRO-1, MDR–P, S1-2, S4-2, G1 -1, G1-3 c) Description of processes used to identify and assess material impacts, material risk and material opportunities IRO-1, SBM-3 d) Actions and resources in relation to material sustainability matters GOV-1, GOV-3, MDR–A, S1-3, S4-3, G1-1 e) Monitoring the effectiveness of policies and actions using targets GOV-3, MDR-T, MDR-M, S1-17, S4-4, G1-3 13.1.2.5 Risk management and internal controls over sustainability reporting [GOV-5] In the Bank, we apply comprehensive internal assessment and control mechanisms designed to ensure high quality, reliability and compliance of sustainability reporting processes with applicable legal regulations and best market practices. These mechanisms enable us to exercise ongoing operational oversight over the process of collecting and verifying non -financial data, as well as over the periodic assessment of the effectiveness of procedures, tools and control mechanisms applied. In this way, we can not only increase the transparency, credibility and consistency of reported ESG information, but also support the achievement of the Bank’s strategic objectives in the area of sustainability and respond to the growing expectations of regulators, investors and other stakeholders. The document that governs the division of competencies and responsibilities applicable in the organisation in the preparation of the Sustainability Statement is the ESG Reporting Procedure, under which: • quantitative and qualitative data are developed by relevant Bank employees indicated by the directors of the units responsible for a given matter, • responsibility for the content of the qualitative and quantitative disclosures provided rests with the directors of substantive units and presidents of companies in the Pekao Group and authorised employees of substantive units responsible for a given disclosure scope, • all data provided are verified for correctness and adequacy by employees of the unit responsible for preparing the Sustainability Statement, • sustainability reporting is subject to assurance by a statutory auditor holding relevant qualifications, • the final version of the report is reviewed and approved by members of the Management Board, the Audit Committee and the Supervisory Board. Matters relating to sustainability reporting and, more broadly, reporting ESG metrics are also a standing agenda item of the ESG Council. Within its work, the status of preparation of the current sustainability statement is monitored, material challenges and risks related to the reporting process are reported and solutions are developed. Risk areas determine optimal internal control mechanisms designed to ensure completeness, quality and credibility of reporting data. Data are verified by managers responsible for individual areas, and the process covers both substantive and formal review. Information on progress throughout the report preparation process is regularly provided to the member of the Management Board supervising the Finance Division, including th e unit responsible for preparing the sustainability statement. More information about the ESG Council is included in the subsection Roles of the administrative, management and supervisory bodies [GOV-1]. As part of managing reporting, we have internal assessment and control mechanisms designed to ensure high quality and compliance of sustainability reporting processes with applicable standards and best market practices. Sustainability reports are submitted for signature to the Bank’s Management Board and approved by the Supervisory Board. At the same time, to ensure appropriate oversight, internal audit carries out a detailed review of the reporting process each year, covering data verification, compliance with the adopted guidelines and the effectiveness of implemented procedures. 13.1.3 Bank’s Strategy 13.1.3.1 Strategy, business model and value chain [SBM-1] As the Bank, we actively participate in trading on domestic and international financial markets, carrying out transactions bo th in Polish zloty (zł – PLN) and in foreign currencies. Our operations comprise the following segments: corporate banking, private banking, asset management and brokerage services, under which we provide comprehensive financial services for individual and institutional clients.
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122 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 We base the Bank’s diversified offering on solid capital foundations and high liquidity, while maintaining rigorous risk management standards. Thanks to a wide range of products, innovative solutions and an individual approach to the client, we provide comprehensive financial service and products of the highest quality, flexibly adapted to changing client expectations. We continuously strengthen our market position by focusing on key areas of business activity. The detailed scope of our domestic and foreign trading operations is specified in paragraph 6 of the Bank’s Statute. Business model We base our business model on customer segmentation in areas such as: • retail banking and private banking – serves individual clients, including affluent private banking clients, as well as micro - enterprises. We offer investment advisory services through private banking centres and remote channels to private banking clients, and we serve all individual clients and micro -enterprises via a network of branches and partner outlets, supported by remote service channels, including digital channels, • enterprise banking – provides financial services to clients from the small and medium -sized enterprise sector, who are served by advisers with the support of product specialists. Service is provided in specialised Business Customer Centres, Corporate Centres and universal retail branches. We offer entrepreneurs products and services tailored to their individual needs, based on solutions proven in corporate banking, • corporate and investment banking – provides financial services to large corporate clients, public sector entities, financial institutions and entities from the commercial real estate finance sector. We provide corporate and investment banking clients with service delivered by our advisers, supported by product specialists. Revenues of the Pekao Group In 2025, we recorded total revenues of the Pekao Group at the level of PLN 23,365.23 (compared to PLN 22,570.87 in 2024), resulting primarily from banking industry operations and activity in capital markets (mainly as part of banking operations). This year, we do not publish a quantified analysis of revenues by industries in which we operate due to the lack of published sector- specific ESRS standards. YEAR TOTAL REVENUES OF THE PEKAO GROUP (PLN MILLION) 2024 22,570.87 2025 23,365.23 Bank Pekao Strategy We present our approach to sustainability and responsible business conduct in The Bank Pekao Strategy 2025-2027 (“the only way is up!”). The Strategy is based on three pillars: WZROST (GROWTH), DOSTĘPNOŚĆ (ACCESSIBILITY) and SPRAWNOŚĆ (EFFICIENCY), within which we identify 9 strategic directions that we will follow in the coming years – within the Strategy’s time horizon. During this period, we plan to dynamically increase our presence in key market segments and pursue stable financial performance and growing market shares. We will also focus on expanding remote service channels and on even better adapting our offering to evolving client expectations. In addition, we intend to invest in technological development, which will support building a modern organisational culture. Under the Strategy, we have assumed i.a. investing in future competencies by establishing the AI Competence Centre to accelerate the implementation of new technologies across the organisation. GROWTH Within the Strategy’s time horizon, we plan to increase the customer base under the age of 26 to 1.4 million, which we intend to achieve by developing products for young clients and aligning the offering with their lifestyle, relationships and needs, as well as through marketing activities addressed to Young and their parents. At the same time, with existing clients in mind, we will work on actions intended to support the activity of Young and on preparing an offering that will enable them to manage their funds more efficiently in the context of saving for goals and will stimulate card transaction activity. In this way, we want to increase the base of active clients by 700 thousand within a three-year horizon. We intend to use our presence in smaller towns even more effectively through a broad network of branches, which we regard as our asset – a competitive advantage At the same time, we focus on insurance products. By leveraging the partnership with the PZU Group, we aspire to achieve a leading position in the bancassurance market (insurance banking – i.e. offering bank insurance products (e.g. life, property, credit) directly in its outlets, often in connection with banking products). To this end, we will work on creating a strong line of standalone insurance, available outside banking products, and on implementing a system enabling fully remote purchase and
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123 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 management of insurance. Our objective also includes developing leasing and factoring. By drawing on the competencies of the entire Pekao Group, we plan to rank in the TOP3 in terms of providing these services. Through appropriate positioning, automation and streamlining of processes, we will be able to offer them to entrepreneurs even more effectively. Moreover, within the GROWTH pillar, we assume achieving and maintaining the leading position in corporate banking and banking for the public sector. We plan to actively leverage the economic situation by increasing the number of financed large transformational projects. We will focus efforts on forecasting clients’ needs in priority sectors and modifying decision -making processes to ensure the most efficient financing of strategic clients. ACCESSIBILITY We intend to expand the availability of our banking services by implementing an integrated service system across client contact channels. Our objective is to ensure ease and an individual approach, irrespective of the transaction execution method chosen by the client. Within the current strategic horizon, we also plan to develop interactive functions of the PeoPay application, th e Pekao24 platform and the Contact Centre, introducing advanced conversational banking at the highest level. In line with the Strategy, we assume that by 2027 the number of mobile users will increase to 4.4 million and digital sales will account for 72% of total transactions. In addition, we will strive to increase engagement in educational activities and in advisory services delivered in branches, with particular emphasis on the needs of local communities. In addition, to ensure positive customer experience, we set ourselves the objective of achieving a top three position in terms of the NPS indicator in mass segments by 2027. To achieve this, we consistently develop systematic monitoring of customer satisfaction, improve a flexible service model tailored to changing expectations, and simplify communication a nd increase the intuitiveness of our digital solutions. EFFICIENCY Implementing the changes for clients assumed under the Strategy requires strong technological infrastructure. To this end, we will create an effective data ecosystem that will streamline business processes, enable the generation of additional synergie s and become the foundation of a new model of information management based on data, the so-called Data Driven. Under the Strategy, we assume more than a threefold increase in the number of systems operating in the cloud. We will also simplify our internal procedures and implement a comprehensive Operational Excellence Model in order to continuously monitor and optimise processes. Optimisation activities will focus mainly on the entrepreneur segment, where key processes for companies, including the credit process for micro -entrepreneurs, will be digitised and automated. Over the next three years, we plan to increase the share of remote channels in sales of business loans to 30% and achieve a digitisation rate in the SME, MID and corporate segments at the level of 70%. All these changes will be supported by a modern organisational culture, which will enable us to operate more efficiently and more ambitiously. We will also invest in developing future competencies by establishing the AI Competence Centre, which will accelerate the rollout of new technologies across the organisation. We assume that thanks to these actions, within three years the work efficiency in selected areas will increase by at least 10%, the number of implemented solutions based on artificial intelligence will increase by more than twofold, and the indicator of employees using AI will be 80%. Mission, vision and values In 2025, we updated our Strategy with new values that reflect the development of our organisational culture. The existing values: PROSTO (STRAIGHTFORWARDLY), RAZEM (TOGETHER), ODWAŻNIE (BOLDLY) and ODPOWIEDZIALNIE (RESPONSIBLY) were joined by: Z DETERMINACJĄ (WITH DETERMINATION), OTWARCI E (OPENLY) and UCZCIWIE (HONESTLY). We defined a new Mission: “Z Tobą przez całe życie” (With You Throughout Life) , which expresses our ambition to accompany clients at every stage – from opening their first account, through making key financial decisions, to the development of local enterprises and successes in international markets. Our new Vision: “Pierwszy wybór na dziś i jutro” (The First Choice for Today and Tomorrow) underlines our aspiration to be a reference bank – a universal and trusted financial partner in Poland. As the Pekao Group, we also strive to be a leader in modern financial technologies, which we will pursue by supporting clients at every stage of their lives and by creating a working environment where employee engagement and development translate into high quality of service and positive customer experience. ESG objectives – reflection of IRO in the Bank Pekao Strategy In the Strategy, we defined strategic objectives taking into account ESG aspects covering matters that we considered important as a result of the double materiality assessment updated for sustainability reporting purposes in 2025.
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124 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Individual sustainability commitments have been appropriately assigned to three groups of matters in the following areas: • Environment: - achieving climate neutrality of the entire Pekao Group by 2050, - developing products and ways of cooperating with clients that will support the sustainable transformation of business, - allocating PLN 9 bn over the next three years to financing green projects such as: renewable energy sources, low-emission transport, energy-efficient construction, or actions aimed at improving energy efficiency. • Social matters: - increasing the share of women in the most senior management positions – our objective is for women to hold at least 33% of such positions. We consider the most senior management positions to be Directors of Divisions, Centres and Departments reporting dire ctly to members of the Management Board, having knowledge of risks related to the Bank’s operations and making decisions affecting risk (in line with the definition of senior management included in the “Policy for Identifying Managerial Positions in Bank P olska Kasa Opieki Spółka Akcyjna”, excluding members of the Management Board). The target date for achieving this objective is 2027, and the level achieved in 2025 was 29%, - maintaining the difference in remuneration in comparable positions below 5%, understood as the adjusted pay gap. The adjusted pay gap is calculated as a weighted average for employee sub -groups, taking into account grading levels, job families and the division in which a given employee is employed. The indicator is calculated based on total remuneration. The Bank uses the Korn Ferry/Hay methodology (levels and job families) under which it compares the remuneration difference. In accordance with the definition agreed with KNF, annual remuneration is taken into account when calculating the pay gap; therefore, the indicator is monitored on an annual basis. The target date for achieving this objective is 2027, and the level of the pay gap in 2025 was 0.95%, - maintaining a high level of employee engagement, - maintaining the level of activity in the field of volunteering and the Bank’s presence among local communities, - in the sphere of relations with clients, we assume strengthening our engagement in educational campaigns for clients. • Corporate governance: - building and strengthening ESG competencies in the Bank through extensive training programmes profiled in accordance with competencies, - developing a tool used for risk management within ESG risk analysis and assessment in client relationships. In work on ESG objectives, we included our key stakeholders: employees, clients, business partners and shareholders – both at the objective -setting stage and in the very process of analysing their expectations and opinions. Strategic objectives – including those relating to actions taken towar ds clients – are defined as part of the strategic planning process. It is based on macroeconomic assumptions and forecasts for the development of the banking sector. On this basis, Strategic Directions of Development of the Bank and the Pekao Group are formulated and the Strategy is developed, reflecting the Bank’s long-term development ambitions, consistent with the risk profile determined by the Statutory Bodies. All key organisational units are involved in the process of preparing the Strategy. Incorporating ESG matters into the Strategy increases the credibility and competitiveness of our organisation and enables better risk management and responding to the expectations of investors, clients and regulators. Through the Strategy formulated in this way, we indicate that sustainability matters constitute an integral element of our business model, and even a priority in our approach to financing environmental initiatives and complying with social and corporate standards. The achievement of our ESG objectives has a direct bearing on the Bank’s offering and the manner of client service. We incorporate sustainability criteria into product processes, credit policy and risk management, which affects the development of financing for green investments, the implementation of ESG risk assessment tools in client relationships and the creation of solutions supporting business transformation. In the area of relations with clients and local communities, we strengthen educational activities, and, as part of cooperation with suppliers, we promote ethical standards and responsible practices. The level of implementation of the Strategy, including individual ESG objectives, is systematically monitored by the Strategy Department and reported to the Management Board. Monitoring of strategy implementation, including achieved levels of strategic indicators (KPI) of individual business areas and progress in implementing strategic initiatives, is carried out quarterly to the Management Board and annually to the Supervisory Board Risk Committee and to the Supervisory Board. The results are not validated by external entities other than the assurance provider. The setting of strategic objectives and their updat es take place with due regard to stakeholder expectations, including those of regulators.
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125 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 As part of sustainability reporting, we also monitor and report the share of sustainable finance in the Bank’s assets under t he GAR indicator (defined under the EU Taxonomy Regulation and relevant delegated regulations). More on this in the chapter [EU Taxonomy]. Actions to implement the Sustainable Development Agenda In pursuing sustainability, we focus on six UN sustainable development goals. These goals reflect our impact on key stakeholder groups and are consistent with the impacts, risks and opportunities identified in the double materiality assessment. At the same time, they remain fully aligned with the Bank’s strategy, supporting the achievement of its long-term business and social objectives. UN GOAL LINK TO THE STRATEGY AND IRO IRO: 1. ESRS S1: Own workforce – Equal treatment - Training and skills development of employees Impact: positive, actual - ensuring adequate access to training and encouraging employees to expand competencies 2. ESRS S4: Consumers and end-users – Impacts on consumers or end-users related to information - Privacy Impact: positive, actual - proactively ensuring an increase in clients’ awareness and knowledge in the area of cyber security Link to the Strategy: Strengthening engagement in educational actions for clients - we conduct educational activities addressed to all our clients in the cyber security area, including, inter alia, by organising workshops and publishing reports related to security and privacy in the online environment. IRO: ESRS S1: Own workforce – Equal treatment - Gender equality and equal pay for work of equal value Impact: positive, actual - creating a friendly working environment and preventing discrimination Link to the Strategy: 1. In comparable positions, remuneration difference in the Pekao Group < 5%. 2. Increasing the share of women in the most senior management positions – our objective is for women to hold at least 33% of such positions. IRO: 1. ESRS S1: Own workforce – Working conditions - Adequate pay of employees Impact: positive, actual: competitive and fair remuneration principles 2. ESRS S1: Own workforce – Working conditions - Social dialogue; Freedom of association, the existence of works councils and the rights of employees to information, consultation and participation; Collective bargaining, including the percentage of employees covered by collective agreements Impact: positive, actual: promoting internal communication and taking employee voice into account 3. ESRS S1: Own workforce – Working conditions - Occupational health and safety (OHS) Impact: positive, actual: ensuring ergonomic workplaces and caring for employees’ mental health 4. ESRS G1: Business conduct – Whistleblower protection Link to the Strategy: Maintaining a high level of employee engagement IRO: ESRS S4: Consumers and end-users – Social inclusion of consumers or end-users - Non-discrimination; Access to products Impact: positive, actual - ensuring the availability of financial services for clients from different social groups Opportunity: Actions to ensure service availability, such as developing digitalisation, simplifying access to banking or standardising telephone service, enable us to reach a wider group of clients. They facilitate contact with the Bank, increase customer satisfaction and support acquisition of new clients, which translates into revenue growth potential. Link to the Strategy: 1. Maintaining a high level of employee engagement - we create a work environment friendly to persons from communities vulnerable to discrimination (e.g. due to age, gender, disability, sexual orientation, religion, political beliefs, etc.). 2. Accessibility: The client and service quality at the centre of our attention, to make contact with the bank a friendly experience. The Bank systematically improves client service processes and the development of remote and mobile channels, with particular focus on their ergonomics and accessibility. “Accessibility”, as one of the three pillars of the Bank’s Strategy for 2025–2027.
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126 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 3. In comparable positions, remuneration difference in the Pekao Group < 5%. 4. Increasing the share of women in the most senior management positions – our objective is for women to hold at least 33% of such positions. 5. Maintaining the level of activity in the area of volunteering and the Bank’s presence among local communities. IRO: ESRS E1: Climate change – Climate change mitigation Impact: positive, actual – financing low-emission investments Opportunity: We see the opportunity to increase revenues related to offering financial products supporting the reduction of GHG emissions and accelerating the transition of the Bank’s clients to a low -carbon economy. We build client awareness of such products and a positive image of the Group as an organisation supporting low-emission solutions. Link to the Strategy: 1. Achieving climate neutrality of the Pekao Group by 2050. 2. Financing green projects in the amount of PLN 9 bn. 3. Developing products and a model of cooperation with clients supporting the sustainable transformation of business operations. IRO: Impact: positive, actual - implementation of ethics / ESG principles for suppliers 1. ESRS G1: Business conduct – Corruption and bribery Impact: positive, actual- proactive anti-corruption measures, educational activities Value chain In light of EFRAG guidelines, we classify the Bank’s activities into one segment, i.e. the sector: banking in the macro -sector: financial institutions. In the value chain mapping process, we took into account the following criteria: • value chain element, • type of element of the chain, • entity implementing the element, • indication of 3 main entities or categories for each element, • geographical location of main entities, • indication of ESG topics material for a given value chain element. Then, based on expert judgement, the value chain of the Pekao Group was developed, taking into consideration the level of complexity of internal processes, regulatory and technological requirements, and the multiplicity of services and client segments.
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127 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Pekao Group value chain Our Bank’s value chain comprises three levels: • UPSTREAM of the value chain, which includes key elements of financial infrastructure, such as: - payment systems, clearing houses and depository systems, - cooperation with international payment card networks (Visa, Mastercard), technology and infrastructure providers and utilities service providers, as well as telecommunications companies. Within UPSTREAM, we ensure business continuity, reliability and availability of services provided, as well as modern user - friendly solutions; • ORGANISATION (the entity’s sector operations) is a system of banking services that includes: - retail banking, - servicing of enterprises, - corporate banking, - capital markets, - investment banking. We base the activities undertaken at this level on strong foundations in risk management, finance, human resources and strategy. Within ORGANISATION, we strive to ensure continuous development of both technology and operations as well as employee competencies, and to build an organisational culture. • DOWNSTREAM of the value chain is focused on servicing diverse customer groups: - individual clients use personal banking services, loans and savings accounts, - public sector clients, including governments and local authorities, can rely on support in public finance management and arranging bond issues, - corporate clients and enterprises have access, inter alia, to commercial loans, treasury services and transaction servicing, - Group clients, including: o individual clients using TFI products (investment funds), o corporate clients using factoring services, leasing services and other business finance products. DOWNSTREAM also includes our financial counterparties, including other banks and supranational institutions. Activities we undertake at this level are supported by advanced digital platforms, a professional distribution network and marketing channels.
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128 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 13.1.3.2 Interests and opinions of stakeholders [SBM-2] In the Pekao Group, we treat our relationships with stakeholders as a priority. We ensure continuous dialogue with groups key to our business from the external and internal environment, which we conduct, inter alia, in the form of direct conversations or interviews as part of satisfaction or engagement surveys. This enables us to obtain information about our offering, the manner and quality of service, as well as to monitor current market trends and identify the needs and expectations of market participants. We use various forms of communication, ensuring equal access to high -quality information for all stakeholders. The way we communicate with the external environment is governed, inter alia, by the Principles of the Bank Pekao Information Policy for Contacts with Investors and Securities Market Analysts, the Media and Clients, available on [the website]. In 2024, for the first time, we identified our stakeholders and grouped them into specific categories for sustainability repo rting purposes in accordance with CSRD and the ESRS Regulation. For this purpose, we first carried out sector classification and then developed a tool for mapping the Pekao Group’s value chain in the area of credit institution activities. As a result of th is process, a list of stakeholders was created and submitted for assessment by eighteen business units operating in the Pekao Group. Ultimately, after integrating and analysing the collected information, we identified key stakeholder groups, as shown in the chart below. Stakeholder map of the Pekao Group: In 2025, we maintained the existing business model and key stakeholder groups, which means that the stakeholder map remained unchanged compared to 2024 – the first year of applying ESRS requirements. Due to the absence of material changes in the structure and environment of the Pekao Group, there was no need to conduct additional consultations or modify the double materiality assessment process. We maintained the existing approach, considering it adequate to the current conditions. As part of the double materiality assessment, we conducted consultations with stakeholders (both within the organisation as well as in the upper (upstream) and lower (downstream) parts of the value chain) on the Pekao Group’s impact on the environment in terms of sustainability matters indicated in the ESRS Regulation. In the consultation process, we used a survey that enabled stakeholders to submit any additional remarks in open questions. The survey contained a total of 42 questions from the following cat egories: general (1), environmental (18), social (14) and corporate governance (5), as well as an open question. Respondents were divided into 2 groups: internal stakeholders, including employees and subsidiaries (78%), and external stakeholders (22%). Persons who were not employees, constituting own workforce, did not participate in the survey. The task we set for consultation participants concerned identifying and determining impacts in the ESG areas and assessing them as positive or negative. Stakeholders indicated the strongest positive impact in the social area and the strongest negative impact in the corporate governance area. With respect to the identified impacts of the Pekao Group on the environment, and in particular in order to maximise positive and minimise negative impacts, we undertake activities involving key stakeholders. A list of these activities by individual groups is presented in the table below.
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129 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 STAKEHOLDER GROUP COMMUNICATION TOOL TOPICS ADDRESSED BANK’S ACTIONS Shareholders, including the strategic owner (1) General Meeting of Shareholders Conferences and meetings Stock exchange and press releases Financial reports, data summaries and results presentations The Bank’s website and online information channels Meetings with rating agencies Ongoing cooperation of the Investor Relations Department (institutional and individual investors, financial analysts and capital market organisations) Online ESG report Branches, online and mobile banking Strategy implementation, value creation, organisational changes Macroeconomic and market forecasts Transparent actions, convenient and effective access to information about the Bank and its activities Application of external regulations and market standards Cooperation with the media – responding to enquiries Media statements, interviews, appearances and publications by members of senior management and selected experts of the Pekao Gr Customers and recipients (4) The Bank’s website and online information channels Online banking platform Helpline Complaints Surveys of satisfaction with products and services and service quality Advertising campaigns and marketing activities Product offers, mailings Internal communication Meetings in branches and Bank outlets Security of entrusted funds Ease of communication with the Bank Offering competitive, high- quality products and services tailored to clients’ needs Providing clear, comprehensible information, including by use of plain language principles Ensuring many diverse channels of access to products and services and information about the Bank’s products and services Transparent offer and contract terms Obtaining customer feedback Participation in the process of establishing and complying with good practices and advertising standards for financial services Employees and employee/trade union organisations (3) Intranet, chats, discussion forums Meetings with participation of the Management Board Employee volunteering Webinars Employee appraisal Internal publications Thematic surveys, evaluation surveys, employee opinion survey Whistleblowing reporting system Meetings with employer representatives, negotiations, consultations Employment stability and opportunities for professional development Market-based, competitive remuneration system Employee matters as one of the Bank’s strategic objectives Transparent organisational structure Work-life balance Provisions of CA Employee matters Detailed information on social partners is available on individual intranet pages. Trade unions Collecting and analysing employee opinions (chats, ability for employees to submit enquiries) and providing employees with feedback on topics raised by employees Transparent, non-discriminatory employee appraisal process taking into account employee engagement and achievements Employee development opportunities (promotions, product training and soft skills training), Collecting and analysing employee opinions (satisfaction surveys) and providing employees with feedback on topics concerning aggregated satisfaction survey results
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130 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 STAKEHOLDER GROUP COMMUNICATION TOOL TOPICS ADDRESSED BANK’S ACTIONS Meeting with suppliers, negotiations Newsletters Works Council Social Labour Inspectorate Setting employees clear, measurable targets to be achieved and monitored Adequate pay and benefits policy taking into account market trends as well as individual employee engagement and achievements Meetings with employees and ongoing communication with employees Ensuring a friendly workplace: including the possibility of remote work and health promotion and preventive actions Dialogue with all trade union organisations operating in the Bank Regulatory environment and supervisory organisations (10) E-mail Statements, reports Trade and business platform Compliance with requirements and regulations Supporting the development of new market rules, including good practices – participation in consultation processes, e.g. with the involvement of the ZBP (Polish Bank Association) Ongoing monitoring of legislative changes, the supervisor’s approach, requirements, regulations and good practices; ongoing cooperation with Regulators Central banks, financial institutions (9) E-mail Statements, reports ESG matters in the financial system and the banking sector Dialogue and cooperation with stakeholders Exchange of experience Shaping good market practices Entities of the Pekao Group (2) Telephone, e-mail Meetings Implementation of policies and procedures at Group level Cooperation in the exchange of experience and implementation of good practices Suppliers and business partners (5) Procurement platform, telephone, e-mail ESG form Ongoing cooperation and contract performance Charitable and sponsorship activities, climate actions Transparent principles of selection and cooperation with suppliers Application of transparent supplier selection procedures Timely performance of contract provisions Promoting good procurement practices Industry organisations and competitors (6) Communication on the Bank’s website and online communication channels Non-financial reports Results, implementation of objectives and business strategy Initiatives undertaken and legislative and business projects implemented supporting the green transformation Monitoring market changes in order to develop good practices Trend analysis Participation of Pekao Group representatives in meetings of industry organisations Natural environment (16) Internal communication channels Social and environmental projects Reducing adverse impact on the environment, environmental education of Customers and Employees `Encouraging employees to participate in pro-environmental initiatives Promoting behaviours and attitudes aimed at limiting adverse impact on the environment among employees
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131 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 New business and ESG strategy Changes in the regulatory environment related to sustainability, implementation of supervisory institution recommendations, observation of market practices, as well as growing stakeholder expectations (including those of investors and clients) require us to systematically increase engagement in ESG matters, including, inter alia, adapting internal procedures and incorporating ESG matters into product, credit and investment processes. Hence our decision to include these matters as an integral part of the Pekao Group’s development activities in the Strategy published in 2025. It was equally important for us to incorporate in the document the voices of our stakeholders, whose opinions we considered as guidance in defining strategic objectives for the coming years. In this way, with the involvement of many Bank units, including the Management Board, the final shape of the Strategy was approved by the Supervisory Board. 13.1.3.3 Material impacts, risks and opportunities and their interrelationships with the strategy and the business model [SBM-3] The double materiality assessment (DMA) carried out in the previous reporting year provided material information that enabled us to better understand the impact of the Pekao Group’s activities on the environment and society, as well as to assess how these factors translate into business opportunities and potential financial risk. Building on the results of this analysis, we were able to define development directions more accurately and determine the shape of policies and actions intended to ensure sustainable growth, financial resilience and the Group’s responsible operation in a changing market and regulatory environment. We assumed that the Strategy is to respond to environmental and social challenges and, at the same time, enable full utilisation of emerging development opportunities. Detailed information on priorities and the approach in the new strategic perspective is provided in SBM-1. We understand the interests and opinions of key stakeholders through the process of identifying and analysing their expectations as part of the materiality assessment and due diligence. We use the information obtained in these processes to incorporate stak eholders’ perspectives into our strategy and business model, in particular regarding sustainability-related impacts. We inform the Bank’s administrative, management and supervisory bodies about the opinions and interests of key stakeholders in relation to our sustainability -related impacts. We provide this information as part of the adopted reporting and internal communication processes, enabling stakeholders’ perspectives to be taken into account in strategic decision -making and ensuring effective oversight of the achievement of ESG objectives. As part of the impact assessment, we considered a breakdown into: • type of impact (positive/negative), • place where the impact occurs (value chain (mainly through the loan portfolio) / organisation), • timing of the impact: actual (currently occurring) / potential (may occur in the future), and across three -time horizons covering the following periods: - short (1 year), - medium (from 1 to 5 years), - long (over 5 years). We carried out the financial materiality analysis in relation to opportunities and risks for the business model, value chain, strategy and decision-making process across: • three-time horizons covering the following periods: - short (1 year), - medium (from 1 to 5 years), - long (over 5 years, in particular at least 10 years for the analysis of the materiality of risks – in accordance with the EBA Guidelines on ESG risk management), • with a breakdown by the place where the impact occurs (value chain (mainly through the loan portfolio) / organisation). The table below presents the most important impacts, risks and opportunities that we identified as part of the update of the double materiality assessment in 2025.
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132 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. Material impacts, risks and opportunities and their interrelationships with the strategy and the business model SUB-TOPIC SUB-SUB-TOPIC IMPACT MATERIALITY FINANCIAL MATERIALITY TYPE AND DESCRIPTION LOCATION OF IMPACT IMPACT HORIZON TYPE AND DESCRIPTION LOCATION HORIZON ESRS E1: CLIMATE CHANGE Climate change mitigation N/A Positive, actual: financing of low-emission investments In the Strategy, we set objectives supporting sustainable transformation: financing green projects in the amount of PLN 9 bn and developing products and a model of cooperation with clients. We finance investments in renewable energy sources, projects improving energy efficiency and innovative technologies that contribute to reducing greenhouse gas emissions, supporting the transition to a low-emission economy. As part of general financing, we have a portfolio of financial assets assessed in terms of EU Taxonomy KPI reported by the Pekao Group’s clients. Environmentally sustainable assets due to the CCM objective (climate change mitigation) constitute most of the GAR numerator compared to the other six environmental objectives. Impact linked to the Strategy Downstream Short Medium Long Opportunity We see the opportunity to increase revenues related to offering financial products supporting the reduction of GHG emissions and accelerating the transition of the Bank’s clients to a low-carbon economy. We build client awareness of such products and a positive image of the Group as an organisation supporting low-emission solutions. Downstream Short Medium Long Climate change mitigation N/A Negative, actual: financing of activities generating GHG emissions, including high- emission investments The foundation of our business model is financing clients’ business activities, commercial and residential real estate and vehicles, which involves financing GHG emissions resulting from these activities/objects. Impact linked to the Strategy Downstream Short Medium Long Risk In the ESG risk materiality analysis carried out in 2025, the Bank identified, inter alia, as material transition (transformational) risk related to climate in the credit risk of the portfolio – relating to a potential decrease in the debt servicing capacity of high-emission entities as a result of increased regulatory costs and demand shifts towards a low-emission economy. Potential concentration of exposures in such sectors increases concentration risk and the simultaneous materialisation of credit losses. This is because it is a risk closely linked to financed exposures, which in turn may be particularly exposed to the process of adjusting Downstream Long
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133 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. SUB-TOPIC SUB-SUB-TOPIC IMPACT MATERIALITY FINANCIAL MATERIALITY TYPE AND DESCRIPTION LOCATION OF IMPACT IMPACT HORIZON TYPE AND DESCRIPTION LOCATION HORIZON the economy to regulatory objectives related to ESG risk, and in particular to EU climate policy. ESRS S1: OWN WORKFORCE Working conditions Secure employment conditions for employees Positive, actual: employment stability due to the use of employment contracts – mostly open-ended contracts We exert a positive impact on employment security – most employees are employed under an employment contract. At the same time, we respond to market needs and changing expectations, also in terms of employment flexibility; therefore, we enable the conclusion of various types of contracts, including fixed-term and open-ended employment contracts, civil law contracts (contract for specific work and contract of mandate), as well as consultants under body leasing. The turnover rate was 10.52%. The average length of service was 15 years in 2025, which demonstrates long-term and stable employee relationships as regards remaining in an employment relationship with the Bank. Impact linked to the Strategy Organisation Short Medium Long No material opportunities or risks identified. N/A N/A Working conditions Secure employment conditions for employees Negative, potential: uncertainty as to employment stability due to the development of AI systems within the organisation Among the Pekao Group’s objectives set out in the Strategy 2025–2027, the development of the use of AI systems has been included, which may generate employee concerns about the stability of their employment (e.g. due to a lack of competencies to operate AI systems or the transfer of tasks performed to an AI system). Over the longer term, this may also result in an actual adverse impact in the form of employment reorganisation within the Pekao Group. In 2025, there were no collective redundancies related to AI. Organisation Short Medium Long No material opportunities or risks identified. N/A N/A
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134 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. SUB-TOPIC SUB-SUB-TOPIC IMPACT MATERIALITY FINANCIAL MATERIALITY TYPE AND DESCRIPTION LOCATION OF IMPACT IMPACT HORIZON TYPE AND DESCRIPTION LOCATION HORIZON Impact linked to the Strategy Working conditions Adequate pay for employees Positive, actual: competitive and fair remuneration principles The remuneration policies we have implemented are intended to ensure fair and competitive remuneration and equal pay for work of the same quality regardless of an employee’s individual characteristics. We continuously monitor market benchmarks for remuneration in the banking sector and ensure competitive remuneration conditions in the market. Impact linked to the Strategy Organisation Short Medium Long No material opportunities or risks identified. N/A N/A Working conditions Working time of employees Work-life balance of employees Positive, actual: compliance with the “right to be offline” and the use of flexible forms of employment in terms of working hours We enable our employees to use flexible working hours, hybrid work and remote work. Impact linked to the Strategy Organisation Short Medium Long No material opportunities or risks identified. N/A N/A Working conditions Social dialogue Freedom of association, existence of works councils and employees’ rights to information, consultation and participation Collective bargaining, including the percentage of employees covered by collective agreements Positive, actual: promoting internal communication and taking employees’ voices into account Trade unions operate in the Bank. As part of various forms of dialogue with employees, we provide our employees with the opportunity to express their views on matters that are important to them, inter alia, through the job satisfaction survey and through the possibility of submitting projects or suggestions. The Bank, as far as possible, implements selected suggestions and remarks from surveys. Impact linked to the Strategy Organisation Short Medium Long No material opportunities or risks identified. N/A N/A
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135 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. SUB-TOPIC SUB-SUB-TOPIC IMPACT MATERIALITY FINANCIAL MATERIALITY TYPE AND DESCRIPTION LOCATION OF IMPACT IMPACT HORIZON TYPE AND DESCRIPTION LOCATION HORIZON Working conditions Occupational health and safety (OHS) Positive, actual: ensuring ergonomic workplaces and caring for employees’ mental health We provide our employees with ergonomic workplaces; we organise training on mental health and reduction of occupational stress, which helps to reduce burnout. Impact linked to the Strategy Organisation Short Medium Long No material opportunities or risks identified. N/A N/A Equal treatment Gender equality and equal pay for work of equal value Positive, actual: creating a friendly working environment and preventing discrimination We create a working environment that is friendly to people from communities vulnerable to discrimination (e.g. due to age, gender, disability, sexual orientation, religion, political beliefs, etc.). Impact linked to the Strategy Organisation Short Medium Long No material opportunities or risks identified. N/A N/A Equal treatment Gender equality and equal pay for work of equal value Negative, actual: existence of a gender pay gap between women and men A gender pay gap exists in the Pekao Group between women and men. Impact linked to the Strategy Organisation Short Medium Long No material opportunities or risks identified. N/A N/A Equal treatment Training and skills development for employees Positive, actual: ensuring adequate access to training and encouraging employees to expand competencies We deliver educational programmes that include local training and general development webinars, as well as international training and programmes, mentoring, internal and external coaching, and certification training such as CFA/ACCA/CIA. Impact linked to the Strategy Organisation Short Medium Long No material opportunities or risks identified. N/A N/A
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136 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. SUB-TOPIC SUB-SUB-TOPIC IMPACT MATERIALITY FINANCIAL MATERIALITY TYPE AND DESCRIPTION LOCATION OF IMPACT IMPACT HORIZON TYPE AND DESCRIPTION LOCATION HORIZON Equal treatment Measures to prevent violence and harassment in the workplace Diversity in the workplace Positive, actual: training and reporting channels to counter violence and harassment We have grievance mechanisms for employee matters, including violence and harassment in the workplace. We provide channels for reporting unethical actions, including violence and harassment. We actively train our staff in recognising workplace bullying, discrimination and undesirable behaviours, and in responding to all forms of these phenomena. Impact linked to the Strategy Organisation Short Medium Long No material opportunities or risks identified. N/A N/A ESRS S4: CONSUMERS AND END-USERS Information-related impacts on consumers or end-users Privacy Positive, actual: proactive management of the security of customer data We ensure the security of our clients’ data and funds by implementing personal data protection training and monitoring its effectiveness. We invest in the latest cybersecurity technologies and the development of data security expert competencies, which improves data protection and translates into increased customer trust. Impact linked to the Strategy Organisation Downstream Short Medium Long No material opportunities or risks identified. N/A N/A Information-related impacts on consumers or end-users Privacy Negative, potential: harm to consumers and end-users due to significant/critical incidents of data leakage, theft or loss We assume the possibility of potential large- scale data leaks, theft or loss – i.e. relating to a certain pool of clients, for example in the event of a hacking attack or a failure of banking systems. Organisation Downstream Short Medium Long No material opportunities or risks identified. N/A N/A
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137 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. SUB-TOPIC SUB-SUB-TOPIC IMPACT MATERIALITY FINANCIAL MATERIALITY TYPE AND DESCRIPTION LOCATION OF IMPACT IMPACT HORIZON TYPE AND DESCRIPTION LOCATION HORIZON Impact linked to the Strategy Information-related impacts on consumers or end-users Privacy Positive, actual: proactive efforts to increase customer awareness and knowledge of cybersecurity We conduct educational activities addressed to all our clients in the cyber security area, including, inter alia, by organising workshops and publishing reports related to security and privacy in the online environment. Impact linked to the Strategy Organisation Downstream Short Medium Long No material opportunities or risks identified. N/A N/A Social inclusion of consumers or end-users Responsible marketing practices Positive, actual: proactive communication in customer service in an understandable, reliable and transparent manner We enhance the quality and transparency of customer communications by implementing plain language principles in all types of materials offered to clients. By analysing and implementing best market practices, we ensure high transparency of actions. In addition, we obtain customer feedback on communication, which supports its continuous improvement and the building of trust. Impact linked to the Strategy Organisation Downstream Short Medium Long No material opportunities or risks identified. N/A N/A Information-related impacts on consumers or end-users Access to information (of high-quality) Negative, potential: practices misleading customers, misselling We assume the possibility of potential occurrences of misselling, misleading customers or communication that is unclear to customers due to excessively complex or unclear marketing and advertising messages, which may lead customers to make incorrect financial decisions. Organisation Downstream Short Medium Long Risk We identified the risk of loss of credibility and customer trust resulting from the lack of access to full and high-quality information about their products and services (reputational risk). In addition, there is a risk of administrative fines and court proceedings in the event of breaches of consumer protection regulations (compliance risk). Downstream Short Medium Long
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138 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. SUB-TOPIC SUB-SUB-TOPIC IMPACT MATERIALITY FINANCIAL MATERIALITY TYPE AND DESCRIPTION LOCATION OF IMPACT IMPACT HORIZON TYPE AND DESCRIPTION LOCATION HORIZON At the time of preparing the Sustainability Statement, no fine has been imposed on the Pekao Group in connection with the use of practices misleading consumers. Impact linked to the Strategy We indicate an increased risk related to the imposition by the Office of Competition and Consumer Protection (UOKiK) of fines as a result of practices applied by Bank Pekao S.A., including those related to sanctions of free credit and unauthorised transactions. Due to increasing customer activity, as well as consumer protection by the regulator, which is initiating further proceedings against the Bank, the likelihood of its materialisation in 2025 was identified. Social inclusion of consumers or end-users Non-discrimination Access to products and services Positive, actual: ensuring access to financial services for clients from various social groups The Bank systematically improves customer service processes and the development of remote and mobile channels, with particular emphasis on their ergonomics and accessibility. “Accessibility”, as one of the three pillars of the Strategy, means designing the customer experience in a friendly, intuitive way and focused on the quality of contact with the Bank. Under the “Growth” pillar, the Bank adjusts its offering and service model to changing customer needs at various stages of the human life cycle, supporting access to services for diverse social groups. Particular emphasis is placed on building a base of young customers up to 26 years of age by developing modern, digital solutions that meet their lifestyle and expectations. Impact linked to the Strategy Organisation Downstream Short Medium Long Opportunity Actions to ensure service availability, such as developing digitalisation, simplifying access to banking or standardising telephone service, enable us to reach a wider group of clients. They facilitate contact with the Bank, increase customer satisfaction and support acquisition of new clients, which translates into revenue growth potential. Downstream Short Medium Long ESRS G1: CORPORATE GOVERNANCE
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139 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. SUB-TOPIC SUB-SUB-TOPIC IMPACT MATERIALITY FINANCIAL MATERIALITY TYPE AND DESCRIPTION LOCATION OF IMPACT IMPACT HORIZON TYPE AND DESCRIPTION LOCATION HORIZON Business conduct Corporate culture Positive, actual: building a positive organisational culture and employee engagement Our organisational culture that is based on mutual respect, openness to dialogue and a shared commitment to achieving the organisation’s objectives. Impact linked to the Strategy Organisation Short Medium Long No material opportunities or risks identified. N/A N/A Business conduct Whistleblower protection Positive, actual: an effective system and actions protecting whistleblowers The Bank has a comprehensive Whistleblowing Procedure that goes beyond the minimum statutory requirements and includes several additional solutions supporting whistleblowers. The system provides above-standard support measures such as psychological assistance, the possibility of remote work or temporary reassignment to another position, and exemption from the obligation to work while retaining full remuneration.-standard support measures such as psychological assistance, the possibility of remote work or temporary reassignment to another position, and exemption from the obligation to work while retaining full remuneration. Impact linked to the Strategy Upstream Organisation Downstream Short Medium Long No material opportunities or risks identified. N/A N/A Business conduct Whistleblower protection Negative, potential: insufficient protection of whistleblowers We assume the possibility of situations in which persons reporting irregularities, known as whistleblowers, suffer retaliation. Such situations may manifest in various forms of difficulties at work or changes in the treatment of these persons. As a result, this may lead to reduced trust in the available reporting channels, as Upstream Organisation Downstream Short Medium Long No material opportunities or risks identified. N/A N/A
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140 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. SUB-TOPIC SUB-SUB-TOPIC IMPACT MATERIALITY FINANCIAL MATERIALITY TYPE AND DESCRIPTION LOCATION OF IMPACT IMPACT HORIZON TYPE AND DESCRIPTION LOCATION HORIZON employees may fear negative consequences resulting from disclosing irregularities. Impact linked to the Strategy Business conduct Supplier relationship management, including payment practices Positive, actual: implementation of ethics/ESG principles for suppliers We have implemented the Bank Pekao S.A. Supplier Code of Ethics, which sets out expectations for suppliers in ESG areas. The Bank analyzes reports submitted through the whistleblowing system and verifies supplier documentation. In addition, we apply ESG Forms in every procurement procedure, which enables ongoing verification of suppliers in terms of environmental protection, human rights, and corporate governance. Impact linked to the business model Organisation Short Medium Long No material opportunities or risks identified. N/A N/A Business conduct Corruption and bribery Positive, actual: proactive anti-corruption measures, educational activities We implemented anti-corruption training, concluded with a knowledge test, which raises awareness of principles and procedures and supports their application in daily work. Enforcement of principles is ensured through reviews of internal regulations and regular compliance checks carried out by the Compliance Department, and periodic reporting to the Management Board and the Supervisory Board. If any solution is found to be ineffective, corrective actions are implemented. Impact linked to the business model Organisation Short Medium Long No material opportunities or risks identified. N/A N/A Business conduct Corruption and bribery Negative, potential: incidents of corruption and bribery Organisation Downstream Short Medium No material opportunities or risks identified. N/A N/A
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141 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. SUB-TOPIC SUB-SUB-TOPIC IMPACT MATERIALITY FINANCIAL MATERIALITY TYPE AND DESCRIPTION LOCATION OF IMPACT IMPACT HORIZON TYPE AND DESCRIPTION LOCATION HORIZON Despite the policies in place to prevent instances of corruption and bribery, it is not possible to eliminate them entirely. All positions within the Bank are equally exposed to the risk of corruption. Impact linked to the business model Long Some conclusions regarding impacts, risks and opportunities assessed as material have changed as a result of the review and update of the double materiality assessment. We present a summary of these changes in the table below. Summary of changes to the results of impacts, risks and opportunities identified as part of the 2025 update of the double mat eriality assessment REASON FOR CHANGE DESCRIPTION OF CHANGE • Expansion of the list of impacts to include a catalogue of potential negative impacts due to the rapidly changing regulatory and market environment We have identified the following additional potential negative impacts as material, due to the Bank operating in an increasingly complex regulatory environment and growing stakeholder pressure, as well as increased customer awareness and expectations: • ESRS S4: Misleading customer practices; mis-selling – We assume that cases may potentially occur where customers are misled by overly complex or unclear marketing and advertising messages, which may lead customers to make incorrect financial decisions. At the time of preparing the Sustainability Statement, no fine has been imposed on the Pekao Group in connection with the use of practices misleading consumers. • ESRS G1: Insufficient whistleblower protection – We assume the possibility of situations in which persons reporting irregularities, known as whistleblowers, suffer retaliation. Such situations may manifest in various forms of difficulties at work or changes in the treatment of these persons. As a result, this may lead to reduced trust in the available reporting channels, as employees may fear negative consequences resulting from disclosing irregularities. • ESRS G1: Incidents of corruption and bribery – We are aware that, despite the policies in place to prevent cases of corruption and bribery, it is not possible to eliminate them entirely. • Combination of impacts overlapping in type with ESRS impacts We have removed from the summary of material impacts the following duplicate impacts overlapping with other material impacts previously assigned directly to ESRS: • Sustainable finance (additional topic under ESRS E1) – positive impact linked to financing environmentally sustainable activities. Topic described under IRO Climate change mitigation in ESRS E1. • Financial education (additional topic under ESRS S4) – positive impact linked to information programmes, workshops and information campaigns for a broad audience on the use of banking products, investing, household budgeting, saving, etc. Topic described under IRO Consumer privacy. • Cybersecurity and data security (additional topic under ESRS S4) – positive impact linked to a high level of data and systems protection and investment in modern technologies supporting data security. Topic described under IRO Consumer privacy. • Personal safety of consumers or end-users (ESRS S4) – positive impact linked to consumer protection through the implementation of technological, organisational and system solutions. Topic described under IRO Consumer privacy.
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142 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. REASON FOR CHANGE DESCRIPTION OF CHANGE • EFRAG's approach to compliance activities presented in the simplified ESRS We have removed the following impacts from the summary of material impacts: • ESRS S1: Effective employee privacy protection system – In connection with the update of the materiality assessment approach, in accordance with EFRAG guidelines, the Bank does not treat compliance with legal obligations as a positive impact. We have identified the area of employee privacy protection as a compliance activity, resulting, among other things, from the requirements of the GDPR. Its effectiveness is confirmed by the results of employee surveys. • Tax transparency (additional topic under ESRS G1) – cooperation with tax authorities and compliance with CRS / FATCA regulations; following the renewed review of the double materiality assessment, we have concluded that these activities constitute basic legal compliance and fall within the compliance area. Therefore, they should not be classified as material IRO and, accordingly, their further presentation as a material positive impact was discontinued. • Assumptions of the Strategy for 2025– 2027 We have removed the following impacts from the summary of material impacts: • ESRS E1: Financing activities supporting climate change adaptation – As a result of the review of the double materiality analysis approach, we clarified the differences between climate change mitigation and climate change adaptation. The material positive impact is exerted primarily through financing actions supporting climate change mitigation, which follows directly from the assumptions of the Group’s Strategy for 2025–2027, which focuses on supporting the transition towards a low-carbon economy. At the same time, financial products financing climate change adaptation strictly as such do not yet constitute a significant part of our business. We have changed the allocation of opportunities to the sub-topics provided for in ESRS E1: • For 2024, we have identified material opportunities in this area in the Climate change adaptation and Climate change mitigation sub-topics. The objective resulting from the Strategy for 2025-2027 and the sustainable financing provided by the Group to date mainly concern activities related to the environmental objective of Climate change mitigation within the meaning of the EU Taxonomy. Therefore, we have identified a material financial opportunity in the sub-topic Climate change mitigation under ESRS E1 and removed from the list a material opportunity that was related to the sub-theme Climate change adaptation for 2024. We have identified an additional material financial opportunity: • ESRS S4: Ensuring the availability of financial services for customers from different social groups - Actions to ensure service availability, developing digitalisation, simplifying access to banking or standardising telephone service, enable us to reach a wider group of clients. They facilitate contact with the Bank, increase customer satisfaction and support acquisition of new clients, which translates into revenue growth potential. • Conducting an in-depth ESG risk materiality analysis, aligned with the new EBA Guidelines on ESG risk management We have identified an additional material financial risk: As a result of the update of the double materiality assessment, we assessed climate-related transition risk concerning the loan portfolio as material over the long-term time horizon. This results from conducting a more in-depth materiality analysis than in the previous year, aligned with the new requirements of the EBA Guidelines on ESG risk management – i.e., taking into account: • broader use of quantitative contextual data, for example in relation to indicators of portfolio alignment with the global Net Zero 2050 scenario, • an available – for the first time – detailed market benchmark of conclusions from double materiality assessments conducted under ESRS by other market participants, • conclusions arising from the work carried out by the Bank on the Transition Plan portfolio, in line with the requirements indicated by the EBA Guidelines.
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143 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. 13.1.3.4 Resilience analysis of Pekao Group’s Strategy and business model in terms of our ability to counteract material adverse impacts and risks and to leverage material opportunities In the second half of 2025, we carried out a qualitative and quantitative analysis of the resilience of our Strategy and business model to material adverse impacts and risks, taking into account the context of our ability to leverage material opportunitie s (hereinafter: the “resilience analysis”). Assumptions of the resilience analysis in relation to material adverse impacts and risks, and conclusions from the analysis performed As a first step, for each material adverse impact, we verified whether incidents of materialisation of a given adverse impact had occurred over the last five years and examined the effect of those incidents on the stability and profitability of our operations. Depending on the nature of the adverse impact in question, we considered: • the cumulative increase in provisions over the period under review, in connection with the incident in question, • the result of the analysis of mass customer complaints in relation to the relevant matter, • the result of the analysis of mass court claims filed against Pekao Group in connection with the relevant matter, • verification as to whether the PFSA imposed an additional capital requirement on the Bank due to the incident. Subsequently, for each adverse impact we analysed: • the scope of remedial and preventive actions implemented, and • remedial and preventive actions planned to be implemented, relating in particular to Pekao Group’s strategic objectives, as well as projects underway within Pekao Group. We also considered whether, during the double materiality assessment, we assessed the risk linked to a given adverse impact as material. Assessing a given risk as not financially material through the double materiality assessment confirmed for us that the risk does not affect the resilience of our Strategy and business model. Where a material risk linked to a given impact was identified, we verified whether the remedial and preventive actions implemented or planned mitigate that risk sufficiently to ensure the resilience of our Strategy and business model. Based on the resilience analysis performed, we conclude that Pekao Group’s Strategy and business model are resilient to material adverse impacts and sustainability-related risks over the time horizons indicated by ESRS. We describe details of the remedial and preventive actions we undertake in respect of material adverse impacts and risks in the relevant thematic chapters of this Statement. Specific assumptions of the resilience analysis in relation to material adverse impacts and risks linked to climate, and conclusions from the analysis performed As indicated in the description of our approach to conducting the double materiality assessment, based on the analyses carried out, we identified one material adverse impact and one material climate-related risk – both relating to our loan portfolio. The material adverse impact concerns Pekao Group’s financing of activities that generate greenhouse gas emissions, in particular high -emission investments. The material risk linked to that impact concerns climate -related transition risk (transformational risk), i.e., a potential decline in the debt -servicing capacity of high-emission entities over the long -term time horizon due to higher regulatory costs and shifts in demand towards a low-carbon economy. Given the long-term perspective of the materiality of climate risk, we examined our resilience to the identified climate risk using climate transition risk stress tests on the Bank’s loan portfolio credit risk, developed by the Bank for the first time in the second half of 2025. Stress tests were performed solely for the Bank, due to the material share and scale of its loan portfolio within the overall Group. The loan portfolios of the other Pekao Group companies are immaterial from a climate risk standpoin t and therefore were not covered by a separate resilience analysis. For this purpose, we estimated the increase in expected credit loss provisions over a three -year horizon, using assumptions from the short -term climate shock scenario developed by the NGFS (Network for Greening the Financial System) entitled “NGFS Short-term Climate Scenario – Diverging Realities (DIRE)”, which we calibrated using expert judgement and overlaid on the baseline macroeconomic scenario. NGFS short -term scenarios are a tool enabling a structured analysis of the direct (almost immediate) effects of climate policies and climate change on financial stability and economic resilience. These scenarios also capture the macroeconomic effects of climate-related physical risk. In our view, they allow for an understanding of possible extreme adverse financial effects resulting from potential shock regulatory and technological actions aimed at the transition towards a low-carbon economy, which may occur across different time horizons – particularly over the long-term time horizon.
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144 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. The estimated increases in provisions under the shock scenario of the climate stress tests do not pose a threat to the Bank’s financial result or the Bank’s capital adequacy. Taking the above into account, as well as the fact that in this year’s EBA stress test exercise our Bank was among the most resilient to stress factors among the 64 European banks included in the sample, we consider our Strategy and business model to be resilient to the material adverse impact and the associated material climate -related risk. Nevertheless, we bear in mind that the long-term perspective of climate change projections and the volatility of the regulatory and technological environment mean that any estimates of their impact on credit risk are subject to a significant degree of uncertainty. Accordingly, we will perform climate risk stress tests on a regular basis, using the most up -to-date and most appropriate assumptions available in order to estimate as accurately as possible the potential effects of climate risk on our financial position. We describe details of the remedial and preventive actions we undertake in respect of material climate -related matters in the chapter ESRS E1: Climate change. Our Transition Plan is a particularly important tool we have implemented to further build our resilience to climate risk is. We describe the assumptions of the Plan in the above-mentioned chapter of this Sustainability Statement. We assess that, as a Group, we have the capacity to adapt our Strategy and business model to climate change over the short-, medium- and long-term. Assumptions of the resilience analysis in relation to material opportunities, and conclusions from the analysis performed We began the resilience analysis in relation to material opportunities by mapping the material opportunities we identified to our strategic objectives set out in the Strategy . As a next step, we analysed whether and how we act proactively to leverage material opportunities related to sustainability. For this purpose, we considered: • what business actions and innovations are undertaken within the organisation as part of a proactive approach to leveraging the given opportunity, • whether and how the achievement of strategic objectives is monitored regularly, • what actions we assume would be taken if the achievement of a given strategic objective were at risk. Based on the resilience analysis performed, we conclude that we actively leverage the material opportunities related to sustainability that we have identified, which contributes to building the resilience of Pekao Group’s Strategy and business model over the time horizons indicated by ESRS. We describe details of the actions we undertake to leverage material opportunities related to sustainability in the relevant thematic chapters of this Sustainability Statement. 13.1.4 Managing Impacts, risks and opportunities 13.1.4.1 Description of the process to identify and assess material impacts, risks and opportunities [IRO-1] In the process of preparing the Sustainability Statement in accordance with the ESRS requirements for the year 2024, we conducted a double materiality assessment for the first time, in order to identify, for the Bank and the entire Pekao Group, the key stakeholder groups as well as the material impacts, risks and opportunities related to sustainability matters. As part of the preparations for drawing up the Sustainability Statement for the year 2025, we reviewed the assumptions and updated the conclusions from the double materiality assessment. The results of the assessment form the basis for our actions and for setting the Bank’s strategic objectives for the future. The first double materiality assessment process was carried out in 2024 by a project team representing the Bank’s key units, and the whole process was overseen by the Steering Committee, comprising the Bank’s Department Directors and representatives of the Management Board. At regular meetings, the Steering Committee monitored progress and compliance with the adopted methodology. The results were discussed and approved by the Steering Committee. The process of reviewing and updating the double materiality a ssessment was carried out in 2025 by a project team representing the Bank’s key units. The results of this process were discussed and approved by the ESG Council. The assessment was conducted in accordance with the ESRS requirements and took into account two perspectives: impact materiality and financial materiality of the Group’s activities in relation to sustainability matters, as well as the impact of individual matters on our financial performance in the future. To ensure consistency with the Bank’s risk management approach, the risk area actively participated in the process and was involved in identifying and assessing risks and opportunities, including setting materiality thresholds for ESG risks and opportunities , so that in the coming years ESG risks and opportunities can be fully integrated into the Group’s existing risk management system,. When conducting the assessment, we divided the work into four stages:
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145 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. • identifying material sectors of activity and mapping the value chain, • analysing existing data, including market context (benchmarking) and stakeholder dialogue, and assessing impact materiality, • assessing the financial materiality of risks and opportunities, • matrix analysis of results and updating the list of ESG topics that are material from the Pekao Group’s perspective. We carried out the double materiality assessment using various research tools, involving: • the Bank’s experts, who assessed the organisation’s impacts and financial materiality, • key internal and external stakeholders, through a survey concerning sustainability matters, • selected members of the Bank’s management team, with whom structured interviews were conducted, as well as a peer benchmarking analysis, an analysis of ESG ratings, and industry reports. The sector identification methodology was based on the latest version of the ESRS, as well as the publicly available EFRAG sector classification. To identify sectors, we assumed a threshold of >10% of revenue in the last financial year. The sector survey was constructed based on EFRAG recommendations (the Exposure Draft European Sustainability Reporting Standard SEC1 – Sector classification and General approach to sector specific ESRS). The Group’s key stakeholders were selected based on a questionnaire survey (16 stakeholder groups), in which two parameters were assessed: • the impact of the Pekao Group on a given stakeholder group, • the interest of a given stakeholder group in the Pekao Group. As a result of analysing the responses and mapping stakeholders, we identified nine key stakeholder groups. The impact materiality assessment was performed in stages, starting with an analysis of sustainability reports published by peer entities, an analysis of ESG ratings and an analysis of sector reports, as well as interviews with key internal stakeholders. The materiality assessment methodology included a comprehensive examination of the Pekao Group’s impacts on its environment and the verification of: • the timing of the impact, • the scale of the impact, • the likelihood of the impact, • the scope of the impact, • the reversibility of the impact. To ensure the most neutral approach possible, the analysis used a variety of data sources, including: • interviews with internal stakeholders, • a benchmarking analysis, which included: - benchmarking of sustainability reports published by peer entities, - benchmarking of sector reports, - benchmarking of ESG ratings, • an anonymous survey among stakeholders (internal and external stakeholders). With respect to the above criteria required by the ESRS standards and based on the data obtained enabling an initial indication of potentially material topics, we carried out a final impact assessment at the Bank, under which we analysed all ESRS topical standards. However, we assumed that for topical standards whose non-materiality was confirmed in the preliminary analyses, the Group’s impact on stakeholders may be deemed non -material. For actual negative impacts, materiality was based on the severity of the impact (scale, scope, irreversibility), and for potential negative impacts – on severity and likelihood. For positive impacts, the basis for their assessment was the scale and scope of the impact for actual impacts, and the scale, scope and likelihood for potential impacts. For each of the above impact assessment categories, we used a scale from 1 to 5, where 1 represents the minimum value and 5 the maximum. We considered topics material if, on average, they scored more than half of the total possible po ints in the impact assessment and were validated through the preliminary analyses. For topics that
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146 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. achieved the required minimum points in the self -assessment but were not identified as material in the preliminary analyses, we re-assessed them with the project team’s judgement. As part of the 2025 review process of the double materiality assessment, the following elements were updated: • benchmarking analysis of sustainability reports published by peer entities – available ESRS-compliant reports published for the year 2024 by Polish and European banks were used, • the Bank’s expert impact assessment – the initial long list of impacts considered was updated, among other things, to better balance the range of positive and negative impacts, as well as to include quantitative contextual information supporting the materi ality assessment; the expert assessment of the materiality of impacts conducted during internal workshops was also updated. A description of how these changes affected the list of material impacts, risks and opportunities is provided in the section [Material impacts, risks and opportunities and their interrelationships with strategy and the business model (SBM-3)]. We linked the financial materiality assessment to the conclusions from the impact materiality assessment, as a result of which we determined an initial long list of risks and opportunities, where risks were defined as potential consequences of negative impacts, and opportunities as potential possibilities arising from creating positive impacts. We assessed each risk and each opportunity in terms of likelihood and its potential financial impact on the Pekao Group across three -time perspectives (in the current reporting year, up to 5 years and over 5 years, in particular at least 10 years for the assessment of the materiality of risks). The assessment was conducted during internal workshops attended by the Bank’s experts responsible for the relevant topic areas. We assumed that a given risk or opportunity is considered material if, in any of the time horizons, it achieved a score of at least 12 (expressed as the product of likelihood and financial impact, both assessed on five -point scales). In addition, as part of the 2025 review process of the double materiality assessment, we took into account the following elements in relation to risks and opportunities: • the risk materiality analysis was aligned with the assumptions arising from the EBA Guidelines on ESG risk management (in particular, to reflect at least a 10 -year time horizon in the analysis, to integrate financial materiality levels with the ICAAP process, and to identify ESG risk transmission channels to traditional risks indicated in the EBA Guidelines, i.e. credit risk (including concentration risk), market risk, liquidity risk, operational risk, reputational risk and business mod el risk), • the scale used to assess the financial materiality of risks and opportunities was redefined from a qualitative scale to a quantitative scale, with monetary thresholds linked to the ICAAP process, • the initial long list of risks and opportunities, in terms of: - defining risks as potential consequences of negative impacts and opportunities as potential possibilities arising from positive impacts (during workshop discussions in the DMA process, no ESG risks or opportunities unrelated to negative or positive impacts were identified), - including quantitative contextual information in the list to support the materiality assessment (e.g. sectoral concentration of the credit portfolio, amounts of operational losses, etc.), - a prudent assumption under which monetary opportunities were not identified in relation to positive impacts resulting from our regulatory / compliance activities, which primarily serve to reduce risk and the occurrence of negative impacts, and are not necessarily activities that can actively contribute to increasing the Pekao Group’s revenues. Description of the processes for identifying and assessing material impacts, risks and opportunities related to climate [E1.IRO-1] Description of the process in relation to impacts and opportunities We presented the materiality of climate -related impacts and opportunities in line with the approach described in detail in the previous section. As part of the impact materiality assessment, we considered our impacts on climate across the value chain. In the context of analysing negative impacts, we considered in particular the sources of greenhouse gas emissions within our value chain. Taking into account the specific nature of the banking sector, we identified that a material actual negative impact is exerted through indirect greenhouse gas emissions resulting from the activities of our financed clients. With reference to the Strategy, we also ide ntified that we exert a material positive impact related to increasing volumes of environmentally sustainable financing that supports the reduction of financed GHG emissions. In connection with this material positive impact, we also identified a material financial opportunity under the “climate chan ge mitigation” subtopic, relating to the expectation of increased revenues from offering financial products that support the reduction
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147 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. of GHG emissions and accelerate the transition of the Group’s clients to a low -carbon economy, in line with the objective set out in the Strategy. We present further details on greenhouse gas emissions in our value chain in subsection [E1-6]. Description of the process in relation to climate risk We also analysed climate-related risks in detail: • physical risks – for physical risks, the identification and assessment performed as part of the financial materiality analysis was based, in accordance with the requirements of Article 20. b) i., AR 11, on a high -emissions climate scenario (SSP5- 8.5). An analysis was carried out of the concentration of Pekao Group credit exposures in locations with elevated physical risk according to ThinkHazard.org maps (where, for real estate-secured exposures, the location of the collateral was analysed, and for other exposures, the location of the borrower’s registered office). The results of the analyses concerning our (downstream) portfolio, on the basis of which we concluded that ph ysical risk is non -material for our portfolio, are published in the reports: Information on the capital adequacy of Bank Pekao S.A. Group – these include, among other things, exposure volumes and impairment by hazard type and sector. With respect to our own operations and the upstream part of the value chain, we considered physical risk to be non-material on the basis of a qualitative analysis supported by physical risk maps that take into account prospective risk aspects arising from climate scenarios, and by empirical observations regarding operational losses due to natural disasters. • transition risk – for transition risk, we first analysed, in accordance with the Guidelines on ESG risk management , the sectoral concentration of our portfolio in sectors A –H and L (i.e. sectors that contribute significantly to climate change), with particular focus on exposures to fossil fuel sectors. We also considered our analyses related to developing the portfolio Transition Plan in line with the requirements indicated by the EBA Guidelines on ESG risk management, as well as indicators of alignment of the high-emission sectors we finance with the Net Zero 2050 scenario. We conducted climate transition risk stress tests for the first time in Q4 2025 in line with the timetable of our internal project to implement the aforementioned EBA Guidelines . We describe the key assumptions in the disclosure concerning the resilience analysis of our strategy and business model in section [SBM-3]. The results of this forward -looking quantitative analysis confirm our conclusion that transition risk in the credit portfolio is material in the long -term time horizon. With respect to our own operations and the upstream part of the value chain, we considered transition risk to be non-material, as the Pekao Group does not operate in any of sectors A –H and L, and we also observe that our carbon footprint in this area is negligible compared to the carbon footprint resulting from our credit portfolio. Description of the processes for assessing the materiality of impacts, risks and opportunities related to environmental matters other than climate For the remaining topics, we analysed: • E2 (Pollution) – from the perspective of financial activities, the ESRS E2 subtopic relating to pollution is not material. Within our assessment processes, the Bank takes into account potential indirect impacts related to pollution generated by financed entities. At the same time, based on the assessment p erformed, indirect impacts in the pollution area were considered less material compared to impacts identified in other ESRS areas: - ESRS E1 “Climate change mitigation” – through assessing the financing of activities causing greenhouse gas emissions, which are often also associated with emissions of air pollutants; - ESRS E4 “Biodiversity and ecosystems” – through analysing pressures on ecosystems in line with the ENCORE methodology, including, among other things, emissions of pollutants to air, water and soil. On this basis, we did not identify material impacts or material risks in the pollution area from the perspective of the Bank’s financial activities. At the same time, we did not conduct consultations with affected communities regarding pollution, because both within our own operations and across the entire value chain, the Pekao Group does not exert an impact on the local environment that would justify such actions. • E3 (Water and marine resources) – the ESRS E3 subtopic focuses primarily on direct water consumption and wastewater discharge within companies’ own operations, particularly in manufacturing sectors. For this reason, this standard does not reflect the specifics of financial institutions, whose impact on water resources is marginal and ind irect. As part of the double materiality assessment, we confirmed that both our operational activity – covering head offices and the branch network – as well as the credit portfolio do not generate a material impact on water and marine resources, either at organisational level or across the entire value chain. Consequently, we did not conduct dedicated dialogue with local communities in relation to this topic, as the nature of our activities does not generate impacts that would justify such actions.
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148 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. Based on the analysis carried out, we also did not identify material risks or opportunities in the area of water and marine resources, from the perspective of both our own activities and the financial portfolio. • E4 (Biodiversity and ecosystems) – from the portfolio perspective, we assessed how the sectors we finance may affect ecosystem services, in line with the ENCORE methodology used under the E4 standard. Based on the analysis carried out, we did not identify material impacts, risks or opportunities related to biodiversity and ecosystem functioning. In addition, we confirm that the Group does not have locations situated in biodiversity-sensitive areas or in their immediate vicinity. Therefore, the topic was not considered material and no dedicated dialogue with local communities was conducted in this respect. • E5 (Circular economy) – from the portfolio perspective, we assessed impacts resulting from financing activities that may generate significant amounts of waste. However, in accordance with the ESRS E5 requirements, these matters are not considered material for financial institutions and, in our practice, are addressed through the assessment of pressures on ecosystems conducted in line with the ENCORE methodology under the ESRS E4 standard. From the perspective of our operational activities, we generate only typical office and municipal waste, without producing hazardous or industrial waste. We consistently reduce the amount of waste, among other things, through segregation, process digitisat ion, the use of electronic signatures and increasing the share of payment cards made from environmentally friendly materials. As part of the double materiality assessment, we did not identify material impacts, risks or opportunities related to waste management – either at organisational level or across the value chain – therefore, we did not conduct dedicated local consultations. Summary As a result of the assessment, we identified: • the Pekao Group’s classification within a single sector: Credit institutions in the macro -sector Financial institutions; • 9 (nine) key stakeholder groups; • 4 (four) material ESRS topics (E1, S1, S4, G1) and 25 (twenty -five) material impacts, 2 (two) material opportunities and 2 (two) material risks. Most material impacts (17) relate to the social pillar and focus on aspects connected with own workforce (10) a nd consumers and end -users (7). Under the environmental pillar, we identified two material impacts related to climate; and under the corporate governance pillar we identified 6 (six) material impacts. Material financial opportunities relate to climate chan ge mitigation and the accessibility of services for our customers. In turn, the material risks relate to: - the potentially material effect of climate-related transition risk on credit risk (including concentration risk) of our portfolio in the long-term time horizon, - the elevated risk of the Office of Competition and Consumer Protection (UOKiK) imposing fines as a result of practices applied by the Bank, including those related to free credit sanction and unauthorised transactions. 13.1.4.2 Disclosure requirements under ESRS covered by the undertaking’s Sustainability Statement [IRO-2] ESRS compliance table: DISCLOSURE LOCATION IN THE REPORT (CHAPTER NUMBER) OMISSIONS AND EXPLANATIONS ESRS 2 BP-1 General basis for preparing sustainability statements 13.1.1, 13.1.2 BP-2 Disclosures related to specific circumstances 13.1.1 GOV-1 Roles and responsibilities of the undertaking’s administrative, management and supervisory bodies 13.1.2.1 GOV-2 Information provided to the undertaking’s administrative, management and supervisory bodies on sustainability matters 13.1.2.2
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149 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. DISCLOSURE LOCATION IN THE REPORT (CHAPTER NUMBER) OMISSIONS AND EXPLANATIONS GOV-3 Integration of sustainability-related performance in incentive schemes 13.1.2.3 GOV-4 Due diligence statement 13.1.2.4 GOV-5 Risk management and internal controls in sustainability reporting 13.1.2.5 SBM-1 Market position, strategy, business model, and value chain 13.1.3.1 SBM-2 Views, interests, and expectations of stakeholders 13.1.3.2 SBM-3 Interaction of influences, strategy, and business model of the company 13.1.3.3 IRO-1 Description of processes for identifying and assessing material impacts, risks, and opportunities 13.1.4.1 IRO-2 Disclosure requirements under ESRS covered by the entity’s sustainability statement 13.1.4.2 CLIMATE CHANGE ESRS E1 GOV-3 Incorporation of sustainability-related performance in incentive schemes 13.1.2.3 SBM-3 Material impacts, risks, and opportunities and their interconnections with strategy and business model 13.1.3.3 IRO-1 Description of the processes to identify and assess material climate- related impacts, risks and opportunities 13.1.4.1 E1-1 Transition plan for climate change mitigation 13.1.2.1 E1-2 Policies related to climate change mitigation and adaptation 13.1.2.1 E1-3 Actions and resources related to climate policy 13.1.2.1 E1-4 Climate change mitigation and adaptation targets 13.2.2 E1-5 Energy consumption and energy mix 13.2.2 E1-6 Gross greenhouse gas emissions for Scopes 1, 2, and 3 and total greenhouse gas emissions 13.2.2 E1-7 Greenhouse gas removal and emission reduction projects financed through carbon emission units N/A E1-8 Internal carbon pricing N/A E1-9 Anticipated financial impacts of material physical risks, transition risks, and potential climate-related opportunities N/A POLLUTION
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150 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. DISCLOSURE LOCATION IN THE REPORT (CHAPTER NUMBER) OMISSIONS AND EXPLANATIONS ESRS E2 IRO-1 Description of processes for identifying and assessing material impacts, risks, and opportunities related to pollution 13.1.4.1 E2-1 Policies related to pollution N/A E2-2 Actions and resources related to pollution N/A E2-3 Pollution-related targets N/A E2-4 Air, water, and soil pollution N/A E2-5 Potentially hazardous substances and substances of very high concern N/A E2-6 Anticipated financial impacts of risks and opportunities related to pollution N/A WATER AND MARINE RESOURCES ESRS E3 IRO-1 Description of processes for identifying and assessing material impacts, risks, and opportunities related to water and marine resources 13.1.4.1 E3-1 Policies related to water and marine resources N/A E3-2 Actions and resources related to water and marine resources N/A E3-3 Targets related to water and marine resources N/A E3-4 Water consumption N/A E3-5 Anticipated financial impacts of influences, risks, and opportunities related to water and marine resources N/A BIODIVERSITY AND ECOSYSTEMS ESRS E4 SBM-3 Material impacts, risks, and opportunities and their interconnections with strategy and business model N/A IRO-1 Description of the processes to identify and assess material biodiversity and ecosystems-related impacts, risks and opportunities 13.1.4.1 E4-1 Biodiversity and ecosystem transformation plan and inclusion of biodiversity and ecosystems in strategy and business model N/A E4-2 Policies related to biodiversity and ecosystems N/A E4-3 Actions and resources related to biodiversity and ecosystems N/A E4-4 Targets related to biodiversity and ecosystems N/A E4-5 Impact metrics related to biodiversity and ecosystem change N/A E4-6 Anticipated financial impacts of risks and opportunities related to biodiversity and ecosystems N/A
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151 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. DISCLOSURE LOCATION IN THE REPORT (CHAPTER NUMBER) OMISSIONS AND EXPLANATIONS RESOURCE USE AND CIRCULAR ECONOMY ESRS E5 IRO-1 Description of processes for identifying and assessing material impacts, risks, and opportunities related to resource use and circular economy 13.1.4.1 E5-1 Policies related to resource use and circular economy N/A E5-2 Actions and resources related to resource use and circular economy N/A E5-3 Targets related to resource use and circular economy N/A E5-4 Resource inflows N/A E5-5 Resource outflows N/A E5-6 Anticipated financial impacts of risks and opportunities related to resource use and circular economy N/A OWN WORKFORCE ESRS S1 SBM-2 Interests and opinions of stakeholders 13.1.3.2 SBM-3 Material impacts, risks, and opportunities and their interconnections with strategy and business model 13.1.3.3 S1-1 Policies related to own workforce 13.3.1.1 S1-2 Procedures for engagement with own employees and employee representatives regarding impacts 13.3.1.1 S1-3 Processes for mitigating negative impacts and employee grievance mechanisms 13.3.1.1 S1-4 Actions taken regarding material impacts on own employees and approaches to managing material risks and leveraging material opportunities related to own workforce, as well as the effectiveness of such actions 13.3.1.1 S1-5 Targets related to managing material negative impacts, enhancing positive impacts, and managing material risks and opportunities 13.3.1.2 S1-6 Characteristics of the entity’s employees 13.3.1.2 S1-7 Characteristics of non-employee workers classified as part of the entity’s own workforce 13.3.1.2 S1-8 Scope of collective bargaining and social dialogue 13.3.1.2 S1-9 Diversity indicators 13.3.1.2 S1-10 Fair remuneration 13.3.1.2 S1-11 Social protection 13.3.1.2
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152 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. DISCLOSURE LOCATION IN THE REPORT (CHAPTER NUMBER) OMISSIONS AND EXPLANATIONS S1-12 Persons with disabilities N/A S1-13 Training and skills development indicators 13.3.1.2 S1-14 Occupational health and safety indicators 13.3.1.2 S1-15 Work-life balance indicators 13.3.1.2 S1-16 Remuneration indicators (gender pay gap and total remuneration) 13.3.1.2 S1-17 Incidents, complaints, and material impacts on human rights compliance 13.3.1.2 WORKERS IN THE VALUE CHAIN ESRS S2 SBM-2 Interests and opinions of stakeholders N/A SBM-3 Material impacts, risks, and opportunities and their interconnections with strategy and business model N/A S2-1 Policies related to employees in the value chain N/A S2-2 Processes for engagement with employees in the value chain regarding impacts N/A S2-3 Processes for mitigating negative impacts and grievance mechanisms for employees in the value chain N/A S2-4 Actions taken regarding material impacts on employees in the value chain and approaches to managing material risks and leveraging material opportunities related to employees in the value chain, as well as the effectiveness of such actions N/A S2-5 Targets related to managing material negative impacts, enhancing positive impacts, and managing material risks and opportunities N/A AFFECTED COMMUNITIES ESRS S3 SBM-2 Interests and opinions of stakeholders N/A SBM-3 Material impacts, risks, and opportunities and their interconnections with strategy and business model N/A S3-1 Policies related to affected communities N/A S3-2 Processes for engagement with affected communities regarding impacts N/A S3-3 Processes for mitigating negative impacts and grievance mechanisms for affected communities N/A S3-4 Actions taken regarding material impacts on affected communities and approaches to managing material risks and leveraging material opportunities related to these communities, as well as the effectiveness of such actions N/A S3-5 Targets related to managing material negative impacts, enhancing positive impacts, and managing material risks and opportunities N/A
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153 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. DISCLOSURE LOCATION IN THE REPORT (CHAPTER NUMBER) OMISSIONS AND EXPLANATIONS CONSUMERS AND END-USERS ESRS S4 SBM-2 Interests and opinions of stakeholders 13.1.3.2 SBM-3 Material impacts, risks, and opportunities and their interconnections with strategy and business model 13.1.3.3 S4-1 Policies related to consumers and end-users 13.4.1 S4-2 Processes for engagement with consumers and end-users regarding impacts 13.4.1.1 S4-3 Processes for mitigating negative impacts and grievance mechanisms for consumers and end-users 13.4.1.1 S4-4 Actions taken regarding material impacts on consumers and end-users and approaches to managing material risks and leveraging material opportunities related to consumers and end-users, as well as the effectiveness of such actions 13.4.1.1 S4-5 Targets related to managing material negative impacts, enhancing positive impacts, and managing material risks and opportunities 13.4.1.2 BUSINESS CONDUCT ESRS G1 GOV-1 Roles and responsibilities of administrative, management, and supervisory bodies of the company 13.5.1 G1-1 Corporate culture and business conduct policies 13.5.1 G1-2 Management of relationships with suppliers 13.5.1 G1-3 Prevention, detection, and mitigation of corruption and bribery 13.5.1 G1-4 Confirmed incidents of corruption or bribery 13.5.2 G1-5 Political influence and lobbying activities N/A G1-6 Payment practices 13.5.2
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154 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. List of data points contained in cross-cutting and thematic standards derived from other EU regulations: DISCLOSURE REQUIREMENT AND RELATED DATA POINT REFERENCE TO THE REGULATION ON SUSTAINABILITY- RELATED DISCLOSURES IN THE FINANCIAL SERVICES SECTOR (CHAPTER NO.) REFERENCE TO PILLAR 3 (2) REFERENCE TO THE BENCHMARKS REGULATION (3) REFERENCE TO THE EUROPEAN CLIMATE LAW (4) ESRS 2 GOV-1 Gender diversity of the Management Board members (point 21(d)) 13.1.2.1 Annex II to Commission Delegated Regulation (EU) 2020/1816 (5) ESRS 2 GOV-1 Percentage of independent Management Board members (point 21(e)) 13.1.2.1 Annex II to Commission Delegated Regulation (EU) 2020/1816 ESRS 2 GOV-4 Due diligence statement (point 30) 13.1.2.4 ESRS 2 SBM-1 Participation in fossil fuel-related activities (point 40(d)(i)) 13.1.3.1 ESRS 2 SBM-1 Participation in chemical production activities (point 40(d)(ii)) N/A ESRS 2 SBM-1 Participation in controversial weapons-related activities (point 40(d)(iii)) N/A ESRS 2 SBM-1 Participation in tobacco cultivation and production activities (point 40(d)(iv)) N/A ESRS E1-1 Transition plan to achieve climate neutrality by 2050 (point 14) 13.1.2.1 Article 2(1) of Regulation (EU) 2021/1119 ESRS E1-1 Entities excluded from the scope of Paris Agreement- aligned benchmarks (point 16(g)) 13.1.2.1 Article 449a of Regulation (EU) No 575/2013; Commission Implementing Regulation (EU) 2022/2453, Template 1: Banking portfolio – Climate change transition risk: credit quality of exposures by sector, issue and residual maturity Article 12(1)(d)-(g) and 12(2) of Delegated Regulation (EU) 2020/1818 ESRS E1-4 Greenhouse gas emission reduction targets (point 34) 13.2.2 Article 449a of Regulation (EU) No 575/2013; Commission Implementing Regulation (EU) 2022/2453, Template 3: Banking portfolio – Transition risks associated with climate change: measures of adaptation Article 6 of Delegated Regulation (EU) 2020/1818 ESRS E1-5 Energy consumption from fossil sources disaggregated by source (applies only to sectors with significant climate impact), point 38 13.2.2 ESRS E1-5 Energy consumption and energy mix, point 37 13.2.2
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155 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. DISCLOSURE REQUIREMENT AND RELATED DATA POINT REFERENCE TO THE REGULATION ON SUSTAINABILITY- RELATED DISCLOSURES IN THE FINANCIAL SERVICES SECTOR (CHAPTER NO.) REFERENCE TO PILLAR 3 (2) REFERENCE TO THE BENCHMARKS REGULATION (3) REFERENCE TO THE EUROPEAN CLIMATE LAW (4) ESRS E1-5 Energy intensity associated with activities in sectors with significant climate impact, points 40–43 13.2.2 ESRS E1-6 Gross greenhouse gas emissions for Scopes 1, 2, and 3 and total greenhouse gas emissions, point 44 13.2.2 Article 449a of Regulation (EU) No 575/2013; Commission Implementing Regulation (EU) 2022/2453, Template 1: Banking portfolio – Climate change transition risk: credit quality of exposures by sector, issue and residual maturity Article 5(1), Article 6, and Article 8(1) of Delegated Regulation (EU) 2020/1818 ESRS E1-6 Gross greenhouse gas emission intensity, points 53–55 13.2.2 Article 449a of Regulation (EU) No 575/2013; Commission Implementing Regulation (EU) 2022/2453, Template 3: Banking portfolio – Transition risks associated with climate change: measures of adaptation Article 8(1) of Delegated Regulation (EU) 2020/1818 ESRS E1-7 Greenhouse gas removals and carbon emission units, point 56 13.2.2 Article 2(1) of Regulation (EU) 2021/1119 ESRS E1-9 Portfolio reference exposure to physical climate risk, point 66 13.2.2 Annex II to Delegated Regulation (EU) 2020/1818, Annex II to Delegated Regulation (EU) 2020/1816 ESRS E1-9 Disaggregation of monetary amounts by acute and chronic physical risk, point 66(a) ESRS E1-9 Location of significant asset components subject to substantial physical risk, point 66(c) 13.2.2 Article 449a of Regulation (EU) No 575/2013; points 46 and 47 of Commission Implementing Regulation (EU) 2022/2453; Template 5: Banking portfolio – physical risk related to climate change: exposures subject to physical risk ESRS E1-9 Breakdown of book value of real estate by energy efficiency classes, point 67(c) 1.2.2 Article 449a of Regulation (EU) No 575/2013; point 34 of Commission Implementing Regulation (EU) 2022/2453; Template 2: Banking portfolio – Transition risk related to climate change: real estate- collateralised loans – energy efficiency of collateral
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156 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. DISCLOSURE REQUIREMENT AND RELATED DATA POINT REFERENCE TO THE REGULATION ON SUSTAINABILITY- RELATED DISCLOSURES IN THE FINANCIAL SERVICES SECTOR (CHAPTER NO.) REFERENCE TO PILLAR 3 (2) REFERENCE TO THE BENCHMARKS REGULATION (3) REFERENCE TO THE EUROPEAN CLIMATE LAW (4) ESRS E1-9 Degree of portfolio exposure to climate-related opportunities, point 69 13.2.2 Annex II to Delegated Regulation (EU) 2020/1818 ESRS E2-4 Quantity of each pollutant listed in Annex II to the Regulation on the European Pollutant Release and Transfer Register (E-PRTR) emitted into air, water, and soil, point 28 N/A ESRS E3-1 Water and marine resources, point 9 N/A ESRS E3-1 Specific policy, point 13 N/A ESRS E3-1 Sustainable practices in the field of seas and oceans, point 14 N/A ESRS E3-4 Total volume of water recycled and reused, point 28(c) N/A ESRS E3-4 Total water consumption in m³ per net revenue from own operations, point 29 N/A ESRS 2 IRO1-E4 point 16(a)(i) N/A ESRS 2 IRO1-E4 point 16(b) N/A ESRS 2 IRO1-E4 point 16(c) N/A ESRS E4-2 Sustainable land/agriculture practices or policies, point 24(b) N/A ESRS E4-2 Sustainable ocean/marine practices or policies, point 24(c) N/A ESRS E4-2 Policies for deforestation prevention, point 24(d) N/A ESRS E5-5 Non-recycled waste, point 37(d) N/A ESRS E5-5 Hazardous and radioactive waste, point 3 N/A ESRS 2 SBM-3-S1 Risk of forced labour cases, point 14(f) 13.3.1.1 ESRS 2 SBM-3-S1 Risk of child labour cases, point 14(g) 13.3.1.1 ESRS S1-1 Commitments regarding policies on human rights respect, point 20 13.3.1.1 ESRS S1-1 Due diligence strategies concerning issues covered by core International Labour Organization Conventions No. 1–8, point 21 13.3.1.1 ESRS S1-1 Procedures and measures for preventing human trafficking, point 22 13.3.1.1 Annex II to Commission
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157 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. DISCLOSURE REQUIREMENT AND RELATED DATA POINT REFERENCE TO THE REGULATION ON SUSTAINABILITY- RELATED DISCLOSURES IN THE FINANCIAL SERVICES SECTOR (CHAPTER NO.) REFERENCE TO PILLAR 3 (2) REFERENCE TO THE BENCHMARKS REGULATION (3) REFERENCE TO THE EUROPEAN CLIMATE LAW (4) Delegated Regulation (EU) 2020/1816 ESRS S1-1 Policy or management system for accident prevention at work, point 23 13.3.1.1 ESRS S1-3 Complaint-handling mechanisms, point 32(c) 13.3.1.1 ESRS S1-14 Number of work-related deaths and the number and rate of work-related accidents, point 88(b)-(c) 13.3.1.2 ESRS S1-14 Number of days lost due to injuries, accidents, fatalities, or illnesses, point 88(e) 13.3.1.2 Annex II to Commission Delegated Regulation (EU) 2020/1816 ESRS S1-16 Unadjusted gender pay gap, point 97(a) 13.3.1.2 ESRS S1-16 Excessive CEO pay level, point 97(b) 13.3.1.2 Annex II to Commission Delegated Regulation (EU) 2020/1816 ESRS S1-17 Cases of discrimination, point 103(a) 13.3.1.2 ESRS S1-17 Non-compliance with UN Guiding Principles on Business and Human Rights and OECD Guidelines, point 104(a) 13.3.1.2 Annex II to Delegated Regulation (EU) 2020/1816, Article 12(1) of Delegated Regulation (EU) 2020/1818 ESRS 2 SBM-3-S2 Significant risk of child labour or forced labour in the value chain, point 11(b) N/A ESRS S2-1 Commitments regarding policies on human rights respect, point 17 N/A ESRS S2-1 Policies related to employees in the value chain, point 18 N/A ESRS S2-1 Non-compliance with UN Guiding Principles on Business and Human Rights and OECD Guidelines, point 19 N/A ESRS S2-1 Due diligence strategies concerning issues covered by core International Labour Organization Conventions No. 1–8, point 19 N/A ESRS S2-4 Human rights-related issues and incidents related to the upstream and downstream value chain, point 36 N/A ESRS S3-1 Commitments regarding policies on human rights respect, point 16 N/A ESRS S3-1 N/A
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158 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. DISCLOSURE REQUIREMENT AND RELATED DATA POINT REFERENCE TO THE REGULATION ON SUSTAINABILITY- RELATED DISCLOSURES IN THE FINANCIAL SERVICES SECTOR (CHAPTER NO.) REFERENCE TO PILLAR 3 (2) REFERENCE TO THE BENCHMARKS REGULATION (3) REFERENCE TO THE EUROPEAN CLIMATE LAW (4) Non-compliance with UN Guiding Principles on Business and Human Rights, ILO standards, or OECD Guidelines, point 17 ESRS S3-4 Human rights-related issues and incidents, point 36 N/A ESRS S4-1 Policy concerning consumers and end-users, point 1 13.4.1.1 Annex II to Delegated Regulation (EU) 2020/1816, Article 12(1) of Delegated Regulation (EU) 2020/1818 ESRS S4-1 Non-compliance with UN Guiding Principles on Business and Human Rights and OECD Guidelines, point 17 13.4.1.1 ESRS S4-4 Human rights-related issues and incidents, point 35 13.4.1.1 ESRS G1-1 United Nations Convention against Corruption, point 10(b) 13.5.1 ESRS G1-1 Whistleblower protection, point 10(d) 13.5.1 ESRS G1-4 Fines for breaches of anti-corruption and anti-bribery regulations, point 24(a) 13.5.2 ESRS G1-4 Standards on anti-corruption and anti-bribery, point 24(b) 13.5.2 Annex II to Commission Delegated Regulation (EU) 2020/1816
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159 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. 13.2 Environmental information – climate change [ESRS E-1]25 13.2.1 Managing impacts, risks and opportunities Transition Plan for climate change mitigation [E1-1] In 2025, the Bank’s Management Board approved the “Transition Plan of the Bank Pekao S.A. Capital Group” (hereinafter: the “Plan” or the “Transition Plan” ), the purpose of which is to support the achievement of the long -term objective of the Paris Agreement, i.e. to pursue limiting the increase in the average global temperature to 1.5°C above pre-industrial levels. The Plan sets out specific targets and act ions for financed greenhouse gas (GHG) emissions related to our portfolio, as well as for our own operations relating to real estate and the vehicle fleet. The Plan will be reviewed and updated in a cycle aligned with the update cycle of the Group’s business Strategy and will also be covered by an internal process for monitoring progress against the targets set, at least semi-annually (by the ESG Council) and annually by the Management Board. The Plan’s decarbonisation targets support the achievement of the environmental targets set out in the Strategy, relating to: • financing green projects in the amount of PLN 9 bn26, • developing products and a customer co-operation model supporting the sustainable transformation of business activities, • achieving climate neutrality of the Group by 2050. Below we present the key assumptions of the Transition Plan, split between the portfolio and own operations. We also indicate that neither the Bank nor any Group entity is an entity excluded from EU Paris -aligned benchmarks – the Group operates in the financial industry and does not conduct business activities in fossil -fuel-related industries to which the above exclusion applies. Given that 2025 is the base year for portfolio decarbonisation targets, information on progress in implementing the portfolio Transition Plan will be disclosed starting from the report for the subsequent year, i.e. the report for 2026. As regards decarbonisation targets for our own operations, where 2024 is the base year, progress in reducing the carbon footprint for Scope 1 and Scope 2 GHG emissions is presented in the tabular disclosure E1 -6 “Greenhouse gas emissions by scopes 1, 2 and 3 in the Bank and s ubsidiaries”, in the “% 2025 / 2024” column. The observed changes in Scope 1 and Scope 2 GHG emissions levels result from decarbonisation actions undertaken in 2025, which are described in more detail in the subsection “Actions and resources in relation to climate policy [E1-3]”. All strategic initiatives are reflected in the financial planning process. The Bank’s Strategy for 2025–2027 includes the objective of achieving climate neutrality by 2050, the operationalisation of which is ensured by the adopted Capital Group Transition Plan. Accordingly, the Transition Plan forms an integral element of the financial planning process. Assumptions of the portfolio Transition Plan The Plan was developed in accordance with the EBA Guidelines on the management of ESG risks27. Its overarching objective in relation to the portfolio is to manage ESG risks identified by the Bank as material in the short -, medium- and long-term perspective, in line with the overall business strategy and risk appetite. The Plan covers transition (t ransformation) risk, identified in the double materiality assessment process, related to climate and its impact on the Group portfolio’s credit risk, as this risk is closely linked to financed exposures that may be particularly exposed to the economy’s adj ustment to applicable regulatory objectives relating to ESG risk, in particular EU climate policy. This is also a risk analysed through the lens of forward-looking climate scenarios containing reference target values related to decarbonisation of specific sectors, which are explicitly referenced by the EBA Guidelines. An analysis of the rationale and feasibility of defining quantified targets for sectors financed by us and the possibility of comparing those targets with reference decarbonisation pathways derived from scientific climate scenarios was a key preparatory step prior to setting the Group portfolio’s decarbonisation targets. This analysis considered the materiality of the volume of financed emissions, the monetary materiality of exposure to a given sector, an assessment of the availability of reference decarbonisation pathways, and an assessment of the availability of source data or reliable proxies, in terms of the ability to set robust, feasible and monitorable decarbonisation targets. As a result of the analysis, the Transition Plan includes two sectors prioritised for decarbonisation: • the power generation sector; and 25 In certain cases, the data are presented solely for the Bank as the parent entity in order to illustrate the scale of its impact on the results of the entire Group. 26 Green financing: renewable energy sources, low-emission transportation, energy-efficient construction, energy efficiency, circular economy, biodiversity, protection against pollution, protection of water resources. 27 Guidelines on the Management of Environmental, Social and Governance (ESG) Risks, EBA/GL/2025/01, dated 8 January 2025.
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160 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. • the residential real estate sector – i.e. our mortgage loan portfolio. For these two priority sectors of our portfolio, we have set the Transition Plan’s decarbonisation targets based on GHG emissions intensity – these targets are presented in the table below. GHG emissions reduction targets for financed emissions (Scope 3, Category 15) , including the distance between Bank’s targets and the 2030 benchmark targets assumed by the reference decarbonisation pathways SECTOR SECTOR SCOPE DECARBONISED GHG EMISSION SCOPES EMISSIONS INTENSITY IN BASE YEAR 2025 TARGET EMISSIONS INTENSITY IN 2030 RELATIVE REDUCTION TARGET BY 2030 (%) REFERENCE TARGET VALUE BANK’S TARGET DISTANCE FROM THE REFERENCE VALUE REFERENCE DECARBONISATION PATHWAY Power generation PKD 35.11-35.14 Scope 1 0.322 t CO2eq / 1 MWh 0.195 t CO2eq / 1 MWh -39.5% 0,195 t CO2eq / 1 MWh 0,0% International Energy Agency Net Zero 2050 Residential real estate Mortgage loans Scope 1 and 2 58.8 kg CO2eq / 1 m2 33.3 kg CO2eq / 1 m2 -43.4% 27,8 kg CO2eq / 1 m2 19,8% CRREM 1.5°C When analysing our disclosed decarbonisation ambitions, it should be borne in mind that the pace of moving away from fossil fuels in Poland has a material impact on our ability to reduce the intensity of financed GHG emissions in the sectors covered by the Plan. The expected transformation of the national energy mix – with a growing share of low- and zero-emission sources – may significantly support the achievement of the Bank’s climate targets and those of other financial institutions; however, this process is largely dependent on the regulatory framework. The Plan assumes decarbonisation of GHG emissions intensity (technological decarbonisation) in the priority sectors through actively increasing our involvement in financing transformation in these areas. This implies organic portfolio growth, which may translate into an increase in the absolute volume of financed GHG emissions. This is particularly relevant for the time horizon to 2030: for power generation, we assume an increase in our engagement in financing transitional generation technologies based on natural gas, which are not zero -emission technologies; and for mortgage loans, we assume an increase in the sale of loans financing energy-efficient properties, which are generally not passive buildings (with nearly zero consumption of energy from fossil fuels). At the same time, we indicate that we have not set targets in the Plan for reducing financed GHG emissions in absolute terms. Power generation The decarbonisation targets defined by us for the power generation industry reflect our strategic commitment to supporting the transformation of the Polish economy towards a more environmentally sustainable and long -term resilient energy mix. Financing of the power generation sector accounts for [7.15%] of our portfolio GHG emissions and for [2.53%] of our exposure in the corporate financing portfolio, and for [1.5%] of the total credit portfolio – as of 31 December 2025. We set the decarbonisation target for this sector with reference to the “Net Zero 2050” reference decarbonisation pathway published by the International Energy Agency (IEA). This pathway assumes a reduction in the average global GHG emissions intensity from electricity generation at a pace that enables limiting the increase in the average global temperature to 1.5°C above pre-industrial level. Our ambition is to reduce by 39.5% by 2030 (compared to 2025) the average GHG emissions intensity of generation technologies and activities in the power generation sector financed by the Bank. The target defined in this way, and the internally assumed pace of portfolio decarbonisation, will allow us to decarbonise our exposure to the power generation industry up to 2030 at a pace consistent with the model assumptions of the Net Zero 2050 climate scenario.
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161 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. Pace of decarbonisation of power generation sector financing compared to the IEA Net Zero 2050 scenario Achievement of the above decarbonisation target to 2030 is based on the following key decarbonisation levers: • decarbonisation actions on the Bank’s side, i.e.: - engagement in purpose -specific financing of transitional generation technologies based on natural gas – we plan to increase our balance -sheet exposure to natural gas to 24.7% in 2030 (relative to our total exposure to the power generation sector) and, at t he same time, we do not assume providing new purpose -specific financing for generation technologies based on other fossil fuels (e.g. coal or crude oil), - maintaining a high level of engagement in purpose-specific financing of zero-emission generation technologies based on wind and solar energy – we plan that throughout the Plan horizon our balance -sheet exposure to these technologies will exceed 40% of our total exposure to the power generation sector, • decarbonisation actions at the national level (outside the Bank’s control) , expressed through the pace of implementation of the assumptions of the National Energy and Climate Plan. In the period from 2026 to 2030, we also plan to undertake the following actions supporting achievement of the decarbonisation target for financing the power generation industry: • improving the quality of data on purpose-specific financing and financed GHG emissions, • building Customer Advisers’ capabilities in the practical application of the Transition Plan assumptions, • engaging customers in dialogue on potential financing needs for zero- or low-emission technologies. For the power generation industry, we identify so -called “locked-in” greenhouse gas emissions (i.e. emissions that cannot be reduced quickly because they result from existing infrastructure, contracts and technologies) in relation to our exposure to financing the ongoing business activities of customers in this sector (non -earmarked financing, not allocated to specific generation technologies). The pace of decarbonisation of this financing depends solely on the national transformation of the power sector and is expressed in our Plan as the decarbonisation pace resulting from the National Energy and Climate Plan, i.e. a decarbonisation lever outside the Bank’s control. Achievement of the targets set out in the Plan may have a positive impact on the Bank’s disclosed Green Asset Ratio within EU Taxonomy disclosures. However, the compl iance of the financing granted with the EU Taxonomy technical screening criteria does not affect the targets set for power generation financing. Residential real estate (mortgage loans): Within our mortgage loan portfolio, we finance the purchase or construction of residential real estate by our Customers who are natural persons. The purchases of real estate financed by us relate to both the primary and secondary markets. Mortgage loans generate [5.83%] of our portfolio GHG emissions and account for [39.63%] of our exposure in the loan portfolio – as of 31 December 2025. We set the decarbonisation target for residential real estate in relation to the reference decarbonisation pathway “CRREM 1.5°C” published by the recognised organisation Carbon Risk Real Estate Monitor (CRREM). This pathway assumes a reduction in the average GHG emissions intensity generated per square metre of resident ial real estate in Poland at a pace enabling the limitation of the increase in the average global temperature to 1.5°C compared to the pre -industrial era. 0,195 0,322 0,195 0,100 0,150 0,200 0,250 0,300 0,350 0,400 2025 2030 IEA - Net Zero SELECTED OPTION -39%
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162 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. Our target is to reduce the average GHG emissions intensity of residential real estate financed by the Bank by 43.4% by 2030 (compared to 2025). This ambition and our internally assumed pace of decarbonisation over the longer time horizon will allow us to decarbonise our mortgage loan portfolio at a pace on average around 2 years slower than the reference assumptions of the climate scenario CRREM 1.5°C. Pace of mortgage loan decarbonisation compared to the CRREM 1.5°C scenario The achievement of the ambition described above by 2030 is based on the following key decarbonisation levers: • decarbonisation actions on the Bank’s side, i.e.: - a gradual increase in the share of mortgage loan sales aligned with the technical screening criteria of the Taxonomy, - a gradual increase in the share of loan sales for energy-efficient and highly energy-efficient properties; implementation of a cap on the share of energy-intensive exposures in new sales, • decarbonisation actions at the national level (outside the Bank’s control) , expressed through: - the planned reduction of the maximum allowable indicator of demand for non -renewable primary energy, pursuant to building regulations, for buildings constructed from 2030, - the pace of implementation of the assumptions of the National Energy and Climate Plan. In the period from 2026 to 2030, we also plan to undertake the following actions supporting the achievement of our decarbonisation target for mortgage loans: • improving the quality of data on the energy efficiency of financed properties, • building the competencies of Customer Advisers in the practical application of the assumptions of the Transition Plan and in the area of regulations concerning the energy efficiency of buildings. With respect to mortgage loans, we identify so -called locked -in greenhouse gas emissions (i.e. emissions that cannot be reduced quickly because they result from already existing infrastructure, contracts and technologies) in relation to the financing of multi-family properties on the secondary market, particularly for properties using district heating. The pace of decarbonisation of these properties depends largely on the national transformation of the power and district heating sectors, i.e. decarbonisation levers outside the Bank’s control. Assumptions of the Transition Plan for own operations In the ESG risk materiality analysis performed in 2025, we did not identify environmental risks related to own operations as material. Nevertheless, due to the strategic ambition to build the image of a sustainable and environmentally responsible 27,8 58,8 33,3 20,0 25,0 30,0 35,0 40,0 45,0 50,0 55,0 60,0 65,0 2025 2030 kg CO2 / m2 Weighted CRREM 1,5 SELECTED OPTION -43%
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163 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. institution and the need to address the disclosure requirements in this area, we decided to include GHG emissions from own operations in our Transition Plan. Our Transition Plan for own operations focuses on Scope 1 and Scope 2 emissions, over which we have real control. For these scopes, we also carried out a preliminary preparatory analysis aimed at identifying the most material sources of GHG emissions – these are: • Scope 1 and Scope 2 emissions generated by our properties from electricity and from the use of refrigerants – they account for more than 85% of the carbon footprint in Scope 1 and 2 on a location -based basis and just under 80% on a market-based basis, and • Scope 1 emissions generated by fuel combustion in our vehicle fleet – they account for approx. 12% of the carbon footprint in Scope 1 and 2 on a location-based basis and 18% on a market-based basis. As a result, we decided to set quantified decarbonisation targets for Scope 1 and 2 emissions resulting from electricity and heat consumption in our properties, and for Scope 1 emissions resulting from fuels combusted by our vehicle fleet. Decarbonisation targets were defined as targets for the reduction of absolute emissions. Additionally, for properties, a target based on GHG emission intensity per m² of our office space was set. Overall decarbonisation targets for Scope 1 and 2 GHG emissions EMISSION SCOPE EMISSIONS IN THE BASE YEAR 2024 TARGET EMISSIONS IN 2030 RELATIVE REDUCTION TARGET BY 2030 (%) REFERENCE DECARBONISATION PATHWAY Scope 1 8,820 t CO2eq 6,291 t CO2eq -28.7% International Energy Agency Net Zero 2050 Scope 2 (location-based) 39,309 t CO2eq 12,774 t CO2eq -67.5% Scope 2 (market-based) 23,334 t CO2eq 6,321 t CO2eq -72.91% Scope 1 and 2 total (location-based) 48,129 t CO2eq 19,065 t CO2eq -60.4% Scope 1 and 2 total (market-based) 32,154 t CO2eq 12,612 t CO2eq -60.8% IEA Net Zero 2050 absolute reduction scenario x x -33.7% The Transition Plan assumes a reduction in the absolute level of GHG emissions in Scopes 1 and 2 at a pace more ambitious than that resulting from the model scenario “Net Zero 2050” published by the International Energy Agency (IEA). This is possible primarily due to the assumptions adopted by the Bank’s Property Modernisation Plan, which provides for a reduction of the Bank’s office space. Details of the assumed decarbonisation levers are presented in the further part of the disclosure .
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164 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. Decarbonisation pathway for Scope 1 and 2 GHG emissions of the Pekao Group compared with the IEA Net Zero 2050 scenario Properties We have set decarbonisation targets for our properties in two approaches: • in terms of absolute emissions reduction, and • in terms of reducing GHG emissions intensity per m 2 of properties. The targets expressed as absolute emissions reductions are compared with the reference “Net Zero 2050” scenario published by the International Energy Agency (IEA). This scenario assumes a reduction in global GHG emissions (starting from 2023) at a pace consistent with limiting the increase in the global average temperature to 1.5°C above pre-industrial levels. We present these targets in the table below. Absolute GHG emissions reduction targets for Scope 1 and 2 emissions from properties SOURCES OF EMISSIONS DECARBONISED GHG EMISSION SCOPES EMISSIONS IN THE BASE YEAR 2024 TARGET EMISSIONS IN 2030 RELATIVE REDUCTION TARGET BY 2030 (%) REFERENCE DECARBONISATION PATHWAY Energy consumption in properties Scope 1 and 2 (location-based) 42,129 t CO2eq 13,951 t CO2eq -66.9% International Energy Agency Net Zero 2050 Scope 1 and 2 (market-based) 26,155 t CO2eq 7,498 t CO2eq -71.3% IEA Net Zero 2050 absolute reduction scenario x x x -33.7% Decarbonisation targets expressed as reductions in GHG emissions intensity per m 2 of properties were set relative to the reference decarbonisation pathway “CRREM 1.5°C” published by the recognised organisation Carbon Risk Real Estate Monitor (CRREM). We present these targets in the table below. -33,7% -12,0% -60,8% -70,0% -60,0% -50,0% -40,0% -30,0% -20,0% -10,0% 0,0% 2025 2030 Absolute reduction scenario - IEA Net Zero 2050 Scope 1 & 2 combined (market-based) -49pp
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165 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. Targets based on GHG emissions intensity per m2 of office floor area SOURCES OF EMISSIONS DECARBONISED GHG EMISSION SCOPES EMISSIONS IN THE BASE YEAR 2024 TARGET EMISSIONS INTENSITY IN 2030 RELATIVE REDUCTION TARGET BY 2030 (%) REFERENCE DECARBONISATION PATHWAY Energy consumption in properties Scope 1 and 2 (location-based) 82.3 kg CO2eq / 1 m2 52.9 kg CO2eq / 1 m2 -35.7% CRREM 1.5°C Scope 1 and 2 (market-based) 51.1 kg CO2eq / 1 m2 28.4 kg CO2eq / 1 m2 -44.3% In the chart below we compare our property decarbonisation targets with the CRREM 1.5°C model decarbonisation pathway. Already in the base year, the emissions intensity of our properties is lower than assumed under the CRREM 1.5°C scenario. By 2030, we expect to decarbonise our properties at a pace that will allow us to achieve targets more ambitious than those assumed in the CRREM 1.5°C scenario. Comparison of intensity-based decarbonisation targets with the CRREM 1.5°C pathway Our assumptions regarding decarbonisation of properties within Scope 1 and 2 of our operational GHG emissions are more ambitious than the reference pathways under scenarios assuming limitation of global warming to 1.5°C . This is primarily possible thanks to the following decarbonisation levers adopted by us: • Decarbonisation measures on the Bank’s side: - reduction and modernization of the Bank’s office floor area, - increasing the share of purchased electricity covered by renewable energy guarantees of origin and renewable PPAs. • Decarbonisation measures on the national side (outside the Bank’s control), expressed through the pace of implementation of the assumptions of the National Energy and Climate Plan. In the period from 2026 to 2030, we also plan to take the following measures supporting achievement of the above decarbonisation targets: • improving the quality of data on GHG emissions from district heating, • training the employees of the Bank and the Pekao Group responsible for property management and energy-related contracts in the assumptions of the Transition Plan. For our properties, we do not identify so-called locked-in GHG emissions. 110,8 57,2 51,1 28,4 82,3 52,9 0,0 20,0 40,0 60,0 80,0 100,0 120,0 2024 2030 kg CO2 / 1 m2 CRREM 1.5°C Pekao Group (market-based) Pekao Group (location-based) -44%
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166 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. Fleet of company vehicles As of 31 December 2024, company vehicles in our Group were mainly petrol -powered vehicles. In 2025, we made a strategic decision to decarbonise our fleet by replacing more than one thousand petrol vehicles with hybrid vehicles. As a result, at t he end of 2025, 69% vehicles were hybrid vehicles and 29% were petrol vehicles. Structure of the Pekao Group’s company-vehicle fleet by powertrain at year-end 2024 and 2025 Under our Transition Plan, we assume maintaining the strategic direction of fleet decarbonisation initiated in 2025. The key decarbonisation lever in this respect is increasing the share of hybrid vehicles in the Group’s company-vehicle fleet to 80% by 2030. Due to infrastructure-related and performance/cost challenges associated with electric vehicles, our first Transition Plan does not assume increasing their share in the fleet. We do not rule out revisiting this assumption in future updates of the P lan as technology progresses in this area. We compare the fleet decarbonisation target expressed as absolute emissions reduction with the reference “Net Zero 2050” scenario published by the International Energy Agency (IEA). This target is presented in the table below. Absolute GHG emissions reduction target for Scope 1 and 2 emissions from the vehicle fleet SOURCES OF EMISSIONS DECARBONISED GHG EMISSION SCOPES EMISSIONS IN THE BASE YEAR 2024 TARGET EMISSIONS IN 2030 RELATIVE REDUCTION TARGET BY 2030 (%) REFERENCE DECARBONISATION PATHWAY Fuel consumption of fleet vehicles Scope 1 6,000 t CO2eq 5,114 t CO2eq -14.8% International Energy Agency Net Zero 2050 IEA Net Zero 2050 absolute reduction scenario x x x -33.7% With respect to our vehicle fleet, we identify so-called locked-in GHG emissions (i.e., emissions that cannot be reduced quickly because they result from already existing infrastructure, contracts or technologies) arising from three factors: • due to the need to maintain the operational efficiency of our organisation, we do not assume reducing the number of company vehicles in the Plan, • due to infrastructure-related and performance/cost constraints, we do not assume increasing the share of electric vehicles in the fleet in the Plan, • hybrid vehicles will burn fuel and thus generate Scope 1 GHG emissions; any reduction will depend, in particular on technological progress in the fuel efficiency of such vehicles. Policies related to climate change mitigation and adaptation [E1-2] We integrate climate aspects into our internal regulatory architecture and implement them across individual areas of how the organisation operates as factors supporting sustainable development. Most internal regulations refer not only to climate-change aspects but are directly linked to the natural environment, social issues and corporate governance. The regulations outlined below address the mitigation and adaptation asp ects identified in the IRO process, both with respect to our own operations and the management of our credit and investment exposure portfolio.
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167 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. As at year-end 2025, we did not have a single document fulfilling the role of a climate policy shaping the Bank’s approach to aspects related to mitigation and/or adaptation to climate change and to leveraging market opportunities resulting from the transformation of the economy towards sustainable development. Qualitative and quantitative targets, as well as implementation pathways together with procedures for monitoring and managing climate risks and opportunities in relevant areas, are dispersed across internal documents of varying rank – from the Strategy published in April 2025 and the Transition Plan operationalising the climate targets, to internal guidelines on the identification and monitoring of transactions. When shaping selected internal regulations, we rely on external standards and market norms, in particular market best practices, which we indicate each time in the description of the relevant regulation. As part of the double materiality assessment, we identified the main groups of internal and external stakeholders that have the greatest impact on the entity’s operations. Among internal stakeholders, the most important for us are employees and employee/trade union organisations; among external stakeholders – shareholders, customers, banking-sector supervisory and regulatory authorities, as well as our suppliers and business partners. We do not conduct thematic consultations for the purpose of setting targe ts and directions for the regulations forming the internal rules that make up the climate policy; however, we remain in ongoing dialogue with internal and external stakeholders through channels appropriate for a given group (e.g., the General Meeting of Shareholders, results conferences, participation in industry associations, internal communications). In the process of creating relevant regulations, appropriate operational units are involved each time from a competence perspective. All of the above regulations are internal and take into account the interests and proposals of key stakeholders in a given ar ea (e.g., employees and employee organisations). At the same time, as a rule, these regulations are not discussed with external stakeholders and are not made publicly available in their full wording. The key provisions of selected documents are published on dedicated pages of the Bank’s website (e.g., [the Strategy]). The overriding document supporting the identification of opportunities related to climate change mitigation and adaptation and indicating possibilities to reduce our adverse impact on the climate, is the Strategy. ESG is an integral part of our business strategy; however, the Strategy itself does not establish targets, directions of action and development in the form required by regulatory solutions introduced by the European Sustainability Reporting Standards defining specific characteristics for thes e elements. The Strategy sets our directions of action both in the field of our own operations and with respect to credit and investment activity. The final wording of the Strategy is the result of dialogue among the Bank’s internal stakeholders. The document was adopted by the Management Board and approved by the Supervisory Board and made available to our stakeholders on the [Bank’s website ]. The fulfilment of strategic commitments in the sustainable development area is monitored by the ESG Council, comprising members of the Management Board and designated operational units. The achievement of key targets set out in the Strategy in relation to climate change and adaptation is communicated to stakeholders in annual non -financial reports. In the context of climate change mitigation and preventing further change, the calculation and monitoring of the carbon footprint in Scopes 1 and 2 and in the supply chain (Scope 3, categories 1 –14) remain an important element. To this end, the Bank implements several initiatives, including the introduction of environmentally friendly improvements at Bank locations, helping to optimise their operation and contributing to reduced consumption of energy and consumable materials. For credit and investment activities (Scope 3, category 15), we see the Strategy as offering the greatest opportunities to leverage our business opportunities by increasing activity in the area of: • financing green projects, including investments in renewable energy sources, • low-emission transport, • energy-efficient construction, • energy efficiency, • circular economy, • biodiversity, • protection against pollution and protection of water resources, and • developing products supporting the transformation of customers. To better identify the effects of our actions and their impact on the scale of financed emissions, we also continue calculati ng the carbon footprint of the loan and investment portfolio (Scope 3, category 15).
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168 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. We use our business capabilities to support activities related to mitigation and adaptation processes. We help customers – both in the retail segment and in corporate and enterprise banking – to reduce the environmental impact of their activities and adapt to new climate conditions. We implement these activities through the development of products and cooperation models. We see significant potential in developing solutions supporting climate change mitigation and in creating adaptation projects that support climate transformation. We also participate in government and EU programmes concerning these activities. Own operations and supply chain The climate policy relating to own operations and the supply chain, in addition to the general direction indicated by the Strategy, is described in the following documents: • the Energy Consumption Optimisation Policy in Bank Polska Kasa Opieki Spółka Akcyjna , relating to climate change mitigation in the day-to-day functioning of Bank employees, • the Procurement Policy in Bank Polska Kasa Opieki Spółka Akcyjna , integrating ESG factors into the procurement process, • the Supplier Code of Ethics of Bank Pekao S.A. , relating to suppliers’ own practices with respect to climate change mitigation. The Bank has guidelines that support our efforts to reduce our adverse impact on the climate in the area of own operations (e.g., energy consumption management) and selected aspects of the supply chain ( Supplier Code of Ethics ). In December 2025, we adopted the Transition Plan for the Pekao Group, covering both the loan and investment portfolio and our own operations. The decarbonisation targets established by us for our own operations are described in more detail in chapter E1 - 1. In 2025 itself, we did not have specific regulations implementing our strategic, long -term decarbonisation ambitions set for our own emissions (Scopes 1 and 2). As the Transition Plan was adopted at the end of 2025, the relevant internal regulations and guidelines will be adjusted to our articulated ambitions to best support our efforts. Energy consumption management Since 2019, the Bank has had in place the Management Board -approved Energy Consumption Optimisation Policy in Bank Polska Kasa Opieki Spółka Akcyjna , setting out principles and guidelines for the rational management of energy as part of operating activities; its overarching purpose is to minimise adverse impacts on the natural environment and support efforts t o counteract climate change. The Policy promotes efficient resource management, including the properties and technical equipment used in the Bank’s operations. Its guidelines cover, among other things, optimising energy consumption in buildings, implementing energy-saving solutions and the responsible use of infrastructure. By implementing these measures, we contribute to reducing greenhouse gas emissions from the Bank’s own operations. The owner of the document is the Real Estate Department, which is responsible for updates and oversight of correct implementation of the adopted principles. The regulations contained in the Policy apply to all employees of our Bank and organisational units that perform tasks related to the management and maintenance of owned and leased properties, as well as units responsible for the procurement of equipment and user furnishings. Bank Pekao S.A. Supplier Code of Ethics and Procurement Policy We seek to embed environmental considerations – particularly measures aimed at limiting adverse impacts on climate change – into the processes for establishing and maintaining cooperation with external parties, including suppliers. These matters are governed primarily by two documents: the Procurement Policy of Bank Polska Kasa Opieki Spółka Akcyjna (hereinafter: the Procurement Policy), updated in 2024, and the Bank Pekao S.A. Supplier Code of Ethics (hereinafter: the Supplier Code of Ethics), which is available in full on our website at [Supplier Code of Ethics]. The Supplier Code of Ethics supplements the Bank’s internal regulations and includes, inter alia, provisions promoting climate change mitigation as well as compliance with social and corporate governance factors. Under the document, each supplier is required to submit a declaration confirming that it has familiarised itself with, and will comply with, the provisions contained therein. By implementing the above principles, the Bank seeks to build a responsible and sustainable supply chain in which environmental, social and ethical aspects form an integral part of business relationships. Further information on both documents is provided in section [ESRS G1]. Management of climate and ESG risk in the loan and investment portfolio One of the development directions set out over the Strategy’s horizon is the refinement of existing solutions and the introduction of new solutions and tools supporting the assessment of our clients’ ESG risk. With respect to managing sustainability risk within the loan and investment portfolio, we are further developing existing internal regulations and process guidelines so that they support the delivery of our strategic ambitions and align with regulatory requirements and market practice.
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169 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. Credit Risk Strategy and Credit Risk Policy In the area of lending and investment activity, matters relating to managing business opportunities linked to climate change adaptation or mitigation, as well as to minimising our adverse impact on the climate, are governed and embedded within the credit process – at a scope and scale commensurate with the customer segment and the type of financed transaction – by a number of internal regulations, with the key documents being the Credit Risk Strategy (approved by the Supervisory Board) and the Credit Risk Policy (approved by the Management Board). The objectives of these regulations are: • effective management of credit risk within the Bank and the Pekao Group; • integration of ESG risk (including climate change risk) into the credit process. The Credit Risk Policy complements the Credit Risk Strategy by focusing on the assumptions and guidelines for credit risk, including ESG factors. The provisions of the Credit Risk Policy and the Credit Risk Strategy cover all units involved in transaction origination and assessment, as well as in risk management and the credit portfolio. The owner of the above regulations is the Integrated Risk Management Department. Both the Credit Risk Strategy and the Credit Risk Policy support limiting our adverse impact on climate change processes. As a general rule, we do not provide financing for new projects and we limit other financing in sectors classified as high -emitting, such as hard coal and lignite mining, the generation of electricity and heat using hard coal and lignite, the provision of services supporting hard coal and lignite mining and extraction, and the manufacture of machinery and equipment for coal mining. Exceptions apply to projects supporting the transition in the Polish energy sector. The Credit Risk Policy is accompanied by a set of detailed regulations dedicated to the identification and assessment of risk in the sustainability area, in particular climate risk, in relation to strategic and corporate clients, small and medium -sized enterprises, business clie nts, and the financing of local government units. These regulations enable us, inter alia, to identify high- or medium-emitting portfolios and exposures and thus assess the potential for managing the portfolio’s carbon footprint so as to limit our impact on climate change. In addition, we regulate ESG risk management processes by means of a dedicated procedure approved by the Vice President overseeing the Risk Management Division, owned by the Risk Strategy and Development and ESG Department. The regulation sets out, inter alia, activities for identifying ESG risk and the methods and tools used to measure and control it. In particular, the procedure governs the operation of a strategic limit relating to green financing for the Bank and the Pekao Group, understood as the minimum percentage share of green financing within the financing portfolio. The regulation also introduces a range of internal indicators supporting the monitoring of exposure to high -emitting financing (in the field of fossil fuels and energy generation from fossil fuels) as well as the intensity of greenhouse gas emissions within the financing of the corporate and enterprise portfolio. The procedure also introduces and governs the mechanisms for climate stress testing in the area of credit risk and sets out methods for identifying ESG risk at the level of economic sectors. The detailed regulations also serve an informational and educational role by describing the key aspects of ESG risk, including climate (transition risk and physical risk) and environmental risk; defining the concepts of green (sustainable) and brown (high- emitting) finance; and specifying the scope of information and data used in the ESG risk assessment process in respect of an individual exposure. Relevant parties cooperating in the operation of the credit process participate in establishing and implementing the content of the credit regulations. We make selected information relating to the Bank’s ESG risk appetite available to external stakeholders. Responsibility for implementing and amending the regulations follows from the Bank’s internal regulations and is assigned to the Risk area. In addition, the regulation also specifies the manner and scope of ESG risk information and data provided by Pekao Group companies to the Bank. Sustainable Finance Framework Pekao S.A. In the area of products and client cooperation, responding to market needs and capturing the related opportunities is of key importance. Since 2023, the Bank’s investment policy has been governed by the Sustainable Finance Framework Pekao S.A. (hereinafter: the Framework). This document not only provides an issuance framework for the Bank’s own sustainable bonds but also sets out the conditions that must be met for the subject matter of an investment transaction entered into with a cli ent to be considered sustainable in environmental or social terms. The issuance framework, which has received a positive Second Party Opinion (SPO) from an independent third party, Sustainalytics, is made publicly available on the Bank’s website, ensuring transparency for all stakeholders. Responsibility for managing the process governed by the Framework follows from the Bank’s internal regulations and is linked to the Corporate Banking, Markets and Investment Banking area and the Enterprise Banking Division.
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170 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. The Framework enables eligible investments to be financed using funds raised from EMTN bonds issued by the Bank. The document describes the project selection process, impact management, and the allocation of proceeds and impact reporting. For the specified types of economic activity, the criteria for classifying eligible projects in the area of climate change mitigation are based on selected technical screening criteria of the EU Taxonomy (in accordance with Annex I to Commission Delegated Regulation (EU) 2021/2139 of 4 June 2021). The Framework is aligned with international market best practice: • the Green Bond Principles of June 2021 (as updated in June 2022); • the Social Bond Principles of June 2023; • the Sustainability Bond Guidelines of June 2021 published by the International Capital Market Association; • the Green Loan Principles of February 2023; • the Social Loan Principles of February 2023 published by the Loan Market Association. Offering green products The operating principles for green products, or products supporting sustainable finance, depend on the type of product offered and the client segment: • for individual customers and consumer loans, the offering is governed by the Act of 20 May 2016 on energy efficiency, which introduces a national final energy savings target to be achieved by the end of 2030 of 5,580 thousand toe, implemented from 1 January 2021 to 31 December 2030. The 2030 target will be delivered, inter alia, through the system of energy efficiency certificates; • for enterprises, we use the European Funds for a Modern Economy Programme operating under the Act of 14 March 2003 on Bank Gospodarstwa Krajowego; • financing for corporate clients is governed, inter alia, by the Sustainable Finance Framework, which was prepared in accordance with applicable international standards published by ICMA and the LMA (as described above), as well as on the basis of an individual offer tailored to the Client’s needs and market standards. Minimum reporting requirements for policies: POLICY NAME LINK TO IRO APPROVING BODY SCOPE (BANK/GROUP) Transition Plan for the Capital Group of Bank Pekao S.A. Climate change mitigation Management Board of the Bank Group Bank Pekao Strategy for 2025–2027 Climate change mitigation Supervisory Board Group Policy on optimising energy consumption in Bank Polska Kasa Opieki Spółka Akcyjna Climate change mitigation Management Board of the Bank Bank Procurement Policy in Bank Polska Kasa Opieki Spółka Akcyjna Climate change mitigation Management Board of the Bank Bank Bank Pekao S.A. Supplier Code of Ethics Climate change mitigation Management Board of the Bank Bank Credit Risk Strategy Climate change mitigation Supervisory Board Group Credit Risk Policy Climate change mitigation Management Board of the Bank Group Sustainable Finance Framework Pekao S.A. Climate change mitigation Sustainable Finance Committee Bank
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171 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. Actions and resources related to climate policy [E1-3] Having regard to the Strategy, which assumes the achievement of climate neutrality by 2050 and support for clients in their transition, the key actions undertaken by us in 2025 in relation to climate policy concerned both our own operations and our lending and investment activities. We developed a Transition Plan, which operationalises the ambitions set out in the Strategy. The reduction targets defined in the Transition Plan were linked to actions constituting decarbonisation levers and to a broad set of monitoring indicators, together with the governance and monitoring structure for the Plan. Actions relating to our own operations were focused primarily on climate change mitigation and were aimed at reducing our carbon footprint in Scopes 1 and 2. The most material actions in relation to the lending and investment portfolio consisted i n offering financing linked to the management of sustainable development risks and opportunities in the area of climate change mitigation and adaptation to climate change. Actions relating to our own operations were conducted within day-to-day Bank’s activities. We did not identify any incidents in which the conduct of our own operations or the financing of clients would have resulted in material harm incurred by third parties. Accordingly, no supporting or compensatory measures were undertaken. Own operations Pursuant to Commission Delegated Regulation (EU) 2021/2178 of 6 July 2021, and having regard to the nature of our activity as a financial institution, the Bank’s capital expenditure (CAPEX) and operating expenditure (OPEX) are not subject to an assessment as to eligibility or alignment with the EU Taxonomy’s sustainable development criteria (including the use of nature- based solutions, engineering solutions or dedicated technological solutions). The expenditure and outlays incurred by us in our own operatio ns during the period covered by the Strategy are also not financially material from the perspective of the entity’s operations. We apply a prudent approach aimed at avoiding classification errors and the risk of greenwashing, as wel l as the inability to directly translate the outlays and expenditure incurred into the implementation of the directions of actions and assumptions of climate policy. Where it is possible to reliably identify relevant actions and the related outlays, we will di sclose the respective amounts in subsequent years. In 2025, we carried out initiatives consistent with the Bank’s strategic assumptions at our locations, aimed at limiting the negative impact on climate change and supporting climate change adaptation processes. The most important of these include: • reducing the floor area of properties by 9.7% compared to 2024, • covering part of the volume of purchased electricity with guarantees of origin for energy from renewable sources. The volume of energy covered by the certificate in 2025 amounted to 28,242 MWh, • improving the energy efficiency of properties and the emissions intensity compared to 2024 by 7.4% (in accordance with the market-based method) and 5.9% (in accordance with the location-based method), • decarbonising the vehicle fleet by increasing the share of hybrid vehicles in the fleet from 12% to 69%. In addition, in 2025 we carried out an issuance of our own ESG bonds in the amount of EUR 500 million (PLN 2,127.6 million at the NBP exchange rate as of 21 September 2025). Lending and investment activities Taking into account the specific nature of a financial institution’s business, the allocation of significant funds to finance Poland’s energy transition and the adjustment of our product offering to changing demand for financial products, whether directly linked to investment objectives or provided through sustainability-linked financing structures, are the most important actions to support sustainable development, particularly climate change mitigation and adaptation. Our strategic priority is – as mentioned earlier – to develop products and a model of cooperation with clients that supports the transformation of their business activities, as well as to develop educational activity for clients. As the Transition Plan was adopted by the Management Board in December 2025, the actions reported by us as at the end of 2025 were not yet linked to potential reductions in financed emissions in 2025. However, these actions were considered leading decarbonisation levers in the lending and investment portfolio even prior to the adoption of the Transition Plan. Basic information on the products and financial solutions offered is made available by the Bank to external stakeholders on its website. Sustainable financing for corporate, investment and enterprise banking clients In 2025, we published the Strategy. One of the assumptions of the document is to finance green projects in the amount of PLN 9 billion. Green financing comprises renewable energy sources, low -emission transport, energy-efficient construction, energy efficiency, the circular economy, biodiversity, protection against pollution, and the protection of water resources.
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172 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. In 2025, we provided green financing with a total value of PLN 8,492,232,930. In addition, we supported the issuance of our clients’ ESG bonds in the amount of PLN 2,300 million. In September 2025, under the EMTN programme, the Bank again issued green bonds with a nominal amount of EUR 500 million (XS3185322909). The issuance is based on the Sustainable Finance Framework in force at the Bank since 2023. Investors also included the IFC (International Finance Corporation), part of the World Bank Group, with which Bank Pekao officially entered into a long-term partnership at the beginning of September. The funds invested by the IFC will be allocated to sustainable investments, in particular in the area of sustainable water management. Supporting initiatives Achieving environmental objectives requires not only internal commitment, but also openness to cooperation. Therefore, we actively engage in ESG initiatives, establishing partnerships that support the transformation of the economy and strengthen our actions for sustainable development. • GREENPACT European ESG Summit Congress – National Chamber of Commerce (Krajowa Izba Gospodarcza): Once again, we acted as the Gold Partner of the GREENPACT European ESG Summit Congress, organised by the National Chamber of Commerce on 24 –25 November 2025. Four representatives of the Bank took part as panellists; additionally, we hosted one panel devoted to financing the energy transition. The Congress was addressed to a broad group of participants: representatives of business, investors, scientists, public administration and social activists. In 2025, the Congress focused on the role of the green transition in building competitiveness and on the importance of voluntary business engagement in sustainable development. • ESG Standard Platform – National Chamber of Commerce (Krajowa Izba Gospodarcza): We act as a substantive partner for the ESG Standard Platform run by the National Chamber of Commerce. As part of the cooperation, we develop a section devoted to financial matters, publishing monthly articles. The actions are mainly aimed at companies from the SME sector seeking support in implementing sustainable development principles, as well as large enterprises managing extensive supply chains. The outcome of the partnership in 2025 included the development of a dedicated finance section, the organisation of a thematic webinar, the participation of a National Chamber of Commerce expert in events organised by the Bank, and monthly promotion of materials in the social media of ESG Standard and National Chamber of Commerce. A representative of the Bank also participated in the work of the ESG Committee. • Guide to Sustainable Energy Transition – Polish ESG Association (Polskie Stowarzyszenie ESG): We were invited to cooperate on the project “Guide to Sustainable Energy Transition” as a substantive partner responsible for developing a chapter devoted to financing the energy transition. The publication was addressed to companies operating in various sectors – from SMEs to large manufacturing plants. The project involved representatives of private enterprises, public institutions and government agencies (such as PARP (Polish Agency for Enterprise Development), NFOŚiGW (National Fund for Environmental Protection and Water Management) and PAIH (Polish Investment and Trade Agency)). The outcome of the partnership included, among other things, the publication of a chapter devoted to financing issues in the Guide to Sustainable Energy Transition and the possibility of using the guide in the Bank’s educational and promotional activities. The guide’s premiere took place in November 2025. • Ziemianie Atakują! – Nowe narracje (Humans Attack! - New Narratives): We assumed the role of the main patron of the “Ziemianie Atakują! – Nowe narracje” project, supporting actions related to the energy transition. The partnership focused on promoting good practices in reducing energy consumption, reducing emissions and developing low-emission energy sources. The initiative was aimed at entities implementing transformation objectives in the energy sector, including enterprises implementing pro-environmental solutions. The outcome of the cooperation included conducting research, organising workshops, and developing a free communications guide for companies involved in the energy transition. The partnership also covered promotional activities in social media, press publications, meetings with editorial teams, and mailings to a base of approximately 8,000 recipients. The project’s pre - premiere took place during PRECOP in Katowice, and the premiere took place in November 2025. • Green Bonds: From trends to practice – Warsaw Stock Exchange (GPW): In April 2025, the Bank’s experts led workshops “Green Bonds: From trends to practice” organised by the Warsaw Stock Exchange (GPW). The event was addressed to people interested in deepening their knowledge of green and sustainable bond issuance. During the workshops, we presented the latest market statistics and trends, discussing experiences related to issuing
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173 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. green bonds both in the domestic and international markets. We also presented practical case studies enabling a full understanding of the preparation and execution of an issuance – including the implementation of a green bond framework and the process related to a Second-Party Opinion. • Guide for issuers on green bond issuance – Warsaw Stock Exchange (GPW): At the invitation of the Warsaw Stock Exchange (GPW), the Bank’s experts provided substantive support in developing the “Guide for issuers on green bond issuance”. The initiative aimed to educate capital market participants on issuance standards and legal and regulatory requirements. The publication provided a practical overview of the green bond issuance process, including detailed guidance on financing pro -environmental projects, defining environmental objectives, linking proceeds to specific investments, and the reporting process, ensuring compliance with sustainable development principles. Retail customer financing In the retail customer segment, we implement the assumptions of the Strategy by introducing products dedicated to pro - environmental objectives, which respond to the needs of the market for financing for natural persons. The Bank maximises its business opportunities in this area by continuing to offer: • Loan – a cash loan with a 0% commission and a reduced margin/interest rate, where the customer uses it for ECO purposes connected with the purchase/installation of, inter alia, renewable energy sources like solar collectors, photovoltaic panels/cells including energy storage, central heating boilers (excluding coal-fired boilers and boilers fuelled by “eco -pea coal”), heat pumps and geothermal heating systems, electric or hybrid vehicles, household bio sewag e treatment plants, heat recovery ventilation, dom estic water treatment stations for own water intakes, or a rainwater recovery system; • ECO residential loans – a loan offer with a reduced margin where the customer, within the financed property, invests in energy-efficient installations, e.g. solar collectors, photovoltaic panels/cells including energy storage, heat pumps or central heating boilers using geothermal heating. From 1 November 2024, we implemented a new process enabling the assessment of energy performance criteria already at the stage when the customer applies for a mortgage loan. If the customer meets the EP indicator criteria required by the Bank, the customer also benefits from a lower margin. The Bank aggregates data on the Energy Performance Certificates provided for statistical purposes. 13.2.2 Metrics and targets Targets related to climate change mitigation and adaptation [E1-4] Monitoring of outcomes of actions resulting from the climate policy As mentioned in section [E1-2], the Strategy sets out our directions and ambitions in the sustainable development area, particularly in the areas of climate change adaptation and mitigation. The results of progress toward the targets and ambitions set under the Strategy are subject to quarterly internal oversight and annual disclosures to external stakeholders. The targets indicated in the Strategy do not fully align with the formal requirements of ESRS E1. The Strategy does not include specific short- and medium-term climate targets for the Pekao Group’s loan and investment portfolio or own operations. These targets are instead included in the Transition Plan, which provides the methodological and time framework for the decarbonisation process. The Plan, adopted by the Management Board on 9 December 2025 and introduces the relevant targets and associated metrics as described in section [E1-1]. For Strategy targets with quantitative thresholds, we assigned metrics to assess the degree of implementation of the actions undertaken (detailed description in the table below “Summary of environmental targets in the Bank’s Strategy for 2025 –2027 and the Pekao Group’s Transition Plan”). The business targets indicated in the Strategy relate to financial amounts rather than carbon dioxide equivalents. This follows from the fact that they are not directly targeted at reducing financed emissions. The targets and metrics reported below were designed to transparently communicate our business objectives and were not adapted to the requirements of the European Sustainability Reporting Standards. Nevertheless, where this was possible, we made direct reference to the relevant ESRS E1 -4 requirements in respect of reporting on the metrics of the actions undertaken by us. The assumptions and methodology for the loan and investment portfolio target were developed based on a critical analysis of peer‑group actions. The outputs of this work were not assessed or validated by an external body . The definitions underlying the determination of the strategic target in relation to the loan and investment portfolio were developed on the basis of exp ert knowledge, best market practices and evidence -based substantive standards, and were collected in th e above-mentioned Sustainable Finance Framework document, which takes into account, inter alia, the EU Taxonomy guidelines (activities with a positive impact on the environment and society), the International Capital Market Association (Green Bond Principles and
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174 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. Sustainability-Linked Bond Principles), the Loan Market Association (for green loans and Sustainability Linked -Loan Principles), the EU Green Bond Standard (EU GBS) under Regulation 2023/2631, and the Climate Bonds Initiative. The quantitative target for financing the economy in the area of climate change mitigation and adaptation is also associated with a directional, qualitative business ambition introduced in the Strategy, consisting in developing products and models of cooperation with customers so as to support their sustainable business transformation. The quantitative target for financing within the loan and investment portfolio set for 2025 –2027 was achieved at the level of PLN 8.492 billion, i.e. 94% of the published strategic cumulative target of PLN 9 billion to be achieved by 2027. The Strategy does not introduce interim targets or milestones, either in relation to the targets associated with reducing greenhouse gases from our own operations or for actions relating to the loan and investment portfolio. We have not changed the performance metric for the achievement of the business target since the announcement of the current Strategy. The table below provides a concise summary of both the targets set out in the Strategy and the targets for the loan and investment portfolio and own operations set out under the Transition Plan and discussed in more detail in section [E1-1]. Summary of environmental targets in the Bank’s Strategy for 2025–2027 and the Pekao Group’s Transition Plan: TARGETS ARISING FROM THE BANK’S STRATEGY FOR 2025–2027 TARGET DESCRIPTION OF METRIC 2027 ADOPTED TARGET 2024 LEVEL 2025 2027 Amount of new financing for green projects expressed in PLN PLN 9 billion N/A PLN 8.492 billion TARGETS ARISING FROM THE GROUP CAPITAL TRANSITION PLAN TARGET DESCRIPTION OF METRIC 2030 ADOPTED TARGET 2024 LEVEL 2025 Reduction target for the corporate portfolio financing energy production Intensity of financed CO2e emissions (Scope 3, Category 15) in [t CO2eq / MWh] Target in 2030: -39.5% vs base year N/A 0.322* Reduction target for the portfolio financing retail real estate Intensity of financed CO2e emissions (Scope 3, Category 15) in [kg CO2eq / m2] Target in 2030: -43.4% vs base year N/A 58.8* Reduction target for own operations (Scope 1 and 2) – market-based t CO2eq emissions in absolute terms Target in 2030: -61% vs base year 32,154** 26,818*** Reduction target for own operations (Scope 1 and 2) – location-based t CO2eq emissions in absolute terms Target in 2030: -60% vs base year 48,129** 42,287*** * base indicator for 2025 from the Transition Plan ** base value for 2024 from the Transition Plan *** value achieved in 2025 New financing classified as green for the purposes of achieving the Strategy target includes financing under new agreements labelled as green in accordance with the internal definition and disbursed from 2025 and increases in financing 28 of existing agreements labelled as green. Disclosure requirement [E1-5] – Energy consumption and energy mix Under requirement E1-5, we report information on the Bank’s total energy consumption in absolute terms, indicating areas for improving our energy efficiency, the level of exposure to coal-, oil- and gas-related activities, and the share of renewable energy in our overall energy mix. When preparing energy data in line with regulatory requirements, we include only consumption resulting from processes conducted or managed by the Pekao Group . In the calculations presented below, we applied the same control boundary as we use for the calculation of greenhouse gas emissions within the Pekao Group. Our statement excludes raw materials and fuels that are not combusted for energy production – given the nature of our activity as a financial institution, we do not carry out such operations. We also do not use fuel as a raw material. Quantitative energy data presented in the table “Electricity consumption and energy mix” below are expressed in megawatt- hours. Where the primary information was expressed in a different unit, we converted it into megawatt-hours using the relevant conversion factors. The data presented relate in each case to energy understood as final consumption (ener gy actually 28 Increase understood as the difference between the current agreement amount and the previous one.
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175 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. consumed by the Pekao Group). We produce renewable energy for our own needs and, in order to avoid double counting, we report this energy only within fuel consumption; we do not apply methods to offset energy consumption, and the energy produced by us is n ot sold to third parties. We also do not include energy obtained within the Pekao Group in the category “energy purchased or acquired”. Given the nature of the activities conducted within the Pekao Group, we do not account for steam, heat or cooling (understood as “waste energy”) from third -party industrial processes; similarly, we do not account for renewable or non -renewable hydrogen. For the purposes of calculating Scope 2 greenhouse gas emissions, we classified electricity, steam, heat or cooling as renewable and non -renewable sources based on a prudent approach. In other words, we classified energy as renewable only when its origin was explicitly confirmed in our contractual arrangements with suppliers (details of the one -year contract and guarantees of origin are described in section [E1-6]). Electricity consumption and energy mix ENERGY CONSUMPTION AND ENERGY MIX 2024 BEFORE ADJUSTMENT 2024 AFTER ADJUSTMENT 2025 1) Total energy consumption from fossil sources (MWh) 69 165,09 69 292,07 60 515,40 Share of fossil sources in total energy consumption (%) 71% 71% 68% 2) Energy consumption from nuclear sources (MWh) 0 0 0 Share of energy consumption from nuclear sources in total energy consumption (%) 0% 0% 0% 3) Fuel consumption for renewable sources, including biomass (also covering industrial and municipal waste of biological origin, biogas, renewable hydrogen, etc.) (MWh) 0 0 0 4) Consumption of purchased or acquired electricity, heat, steam and cooling from renewable sources (MWh) 28 352,02 28 352,02 28 242,54 5) Consumption of renewable energy self-generated without fuel (MWh) 53,70 53,70 46,91 6) Total renewable and low-emission energy consumption (MWh) [calculated as the sum of rows 3-5] 28 405,72 28 405,72 28 289,45 Share of renewable sources in total energy consumption (%) 29% 29% 32% Total energy consumption (MWh) [calculated as the sum of rows 1, 2, 6] 97 570,82 97 697,80 88 804,85 * Due to the development of the carbon footprint calculation methodology and the adjustment of the approach to presenting energy consumption from renewable sources, the results for 2024 have been recalculated. We do not conduct activities in a sector with a significant climate impact; therefore, we do not present the structure of energy consumption by type of fossil fuel. As the Pekao Group, we do not operate in sectors with a significant climate impact; therefore, we do not present in this repo rt information related to energy intensity calculated based on net revenues. Gross Scope 1, 2 and 3 greenhouse gas emissions and total greenhouse gas emissions [E1-6] When calculating greenhouse gas emissions in Scopes 1 and 2, we apply the GHG Protocol Corporate Standard methodology E1-6-48b]. Given the nature of our business, we are not subject to the EU Emissions Trading System. The scope of the calculation covers data for the Pekao Group. We based the calculations on internally collected data on resource consumption (e.g. electricity, petrol, mileage) and on information published by the National Centre for Emissions Management (KOBIZE), the Energy Regulatory Office (URE), the UK Department for Environment, Food and Rural Affairs (DEFRA), as well as information provided by electricity suppliers. We do not identify biogenic emissions in Scopes 1 and 2. In 2025, we did not compile a breakdown enabling identification of the share of primary data in the carbon footprint calculation process for own operations. Greenhouse gas emissions are expressed in tonnes of carbon dioxide equivalent. We did not use external calculation tools for the calculations.
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176 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. In the Scope 3 greenhouse gas inventory prepared in accordance with the GHG Protocol Corporate Accounting and Reporting Standard guidelines, we report the following categories in 2025: 1, 2, 6, 7 and 15. The 2025 estimation performed to determine the materiality of emissions from these categories showed that only Categories 1 (purchased goods), 2 (capital goods) and 7 (employees commuting) exceeded the adopted materiality threshold of 0.05% of the share in emissions calculated for Scope 3. In addition, due to observed market practice, we decided to include Category 6 (business travel) in the catalogue of reported material Scope 3 emission categories, even though the share of these emissions in total Scope 3 emissions did not exceed the defined threshold. We excluded the remaining Scope 3 categories in 2025 due to their marginal share or lack of business materiality. In the current reporting year, we do not identify biogenic emissions from the combustion or biodegradation of biomass in any emissions category in our value chain. We express the calculated greenhouse gas emissions in tonnes of carbon dioxide equivalent. The scope of the calculation for Categories 1, 2, 6 and 7, and 15 covered, respectively, the processes and financial exposures of the Bank and all subsidiaries. Thus, we covered all entities under the Pekao Group’s operational control. We also included th e finance lease portfolio in the calculation. We excluded value chain assets from the calculations, meaning assets and investments managed by the Pekao Group but not recognised on the Group’s balance sheet, such as assets of investment funds managed by the Group. With respect to Scope 3 Category 15, we identify three categories of financial assets (as presented in the consolidated financial statements) that were covered by the carbon footprint calculation: financial assets other than held for trading mandatorily measured at fair value through profit or loss, financial assets measured at fair value through other comprehensive income, and financial assets measured at amortised cost. We note that the data quality score used in the carbon footprint calculation is based on PCAF asset classes, not on the categories used in the financial statements. • Corporate finance portfolio, including general-purpose exposures – 4.05 • Listed equity and corporate bond portfolio – 3.72 • Project finance portfolio – 4.39 • Mortgage-secured loan portfolio – commercial real estate – 2.09 • Mortgage-secured loan portfolio – retail real estate – 2.95 • Motor vehicle finance portfolio – 3.97 For the purposes of calculations relating to the sovereign bond portfolio, we used data from sources recommended by PCAF – the World Bank and a database maintained by the UN climate change body (United Nations Climate Change). We covered 83.87% of the Pekao Group’s balance sheet assets with carbon footprint calculations (in 2024, this figure was 77.82%). We performed the calculations within the following asset classes, defined by the global greenhouse gas accounting and reporting standard for the financial industry developed by the Partnership for Carbon Accounting Financials (PCAF), of which we have been a member since July 2024. The calculation covered all asset classes defined by this standard that occur in the Pekao Group: • corporate finance portfolio, including general -purpose exposures (business loans and unlisted equity) and purpose - specific loans (project finance), • motor vehicle finance exposure portfolio (motor vehicle loans), which in the Pekao Group is understood as credit exposures and leasing exposures, • mortgage-secured loan portfolio, including retail mortgages (mortgages) and commercial mortgages (commercial real estate), • listed equity and corporate bond portfolio (listed equity and corporate bonds), • sovereign debt finance portfolio (sovereign debt). We carried out the calculations for individual asset classes in accordance with the global greenhouse gas accounting and reporting standard for the financial industry developed by PCAF. We based the financial calculations of emissions related to the Pekao Group on data from internal and external sources. The scope of data obtained from external sources included, among others: • data contained in the Central Register of Building Energy Performance Certificates maintained by the Minister of Development and Technology,
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177 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. • average emissions factors contained in the European database of building emissions factors maintained by PCAF, used for the purposes of calculating financed emissions related to mortgage loans, • reported emissions (emissions information collected directly from the borrower or the investee company), • average emissions factors from the European building emissions database maintained by PCAF, • financial data and data on corporate clients’ reported emissions obtained from their non -financial reports and available databases. The share of financed greenhouse gas emissions in the Pekao Group’s portfolio calculated based on primary data (energy performance certificates and information obtained from companies’ reports) in 2025 was 22.3% 29 (in 2024, this figure was 40%). Other Scope 3 categories identified as material: With respect to Scope 3 Category 1, we included emissions associated with the production of goods (i.e. tangible products) or the provision of services (intangible products) that we purchased from our suppliers in the calculations. For the purposes of calculating greenhouse gas emissions, we applied an activity- and spend-based approach, using, where possible, quantitative emissions factors (referring to the number of units of purchased products) published by the manufacturers of those goods. We excluded from the calculation for this category items that were classified to Scopes 1 and 2 (including services and products relating to the purchase of electricity and heat energy, fuels for vehicles in our company fleet) as well as products deliver ed and services provided by companies within the Pekao Group. With respect to Scope 3 Category 2, the calculations covered emissions associated with the production of capital goods purchased by us (excluding emissions arising from the use of capital goods, which we classify to Scope 1 or 2 depending on the type of those goods). Analogously to Scope 3 Category 1, we also used an activity- and spend-based methodology. With respect to Scope 3 Category 6, the calculations covered emissions associated with business travel in vehicles operated by third parties (i.e. air travel, rail, coach, passenger car). Emissions associated with transport in vehicles owned by, or under the control of, the Group were included in Scope 1 (fuel consumption) or Scope 2 (electricity consumption). For the calculations, we used DEFRA 2025 factors and Pekao Group internal data on business travel and the number of employees. With respect to Scope 3 Category 7, the calculations covered emissions arising from employee transport between their place of residence and their workplace (i.e. travel by car, bus, rail, etc.). We calculated emissions based on the results of an internal survey conducted in 2025. On the basis of these data and information on the total number of employees in the Pekao Group, we calculated total emissions in this category. The shares of greenhouse gas emissions in the Pekao Group’s portfolio calculated on the basis of primary data for individual Scope 3 categories identified as material were, respectively: • Category 1 – 2.72% • Category 2 – 0.02% • Category 6 – 95.76% • Category 7 – 18.78% • Category 15 – 22.3% 29 The calculations do not include the motor vehicles financing portfolio (data not available).
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178 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. Greenhouse gas emissions by Scopes 1, 2 and 3 in the Pekao Group PEKAO GROUP HISTORICAL DATA** INTERIM TARGETS AND TARGET YEARS* 2024 BEFORE ADJUSTMENT 2024 AFTER ADJUSTMENT*** 2025 % 2025/2024 2025 2030 2050 ANNUAL TARGET IN %/ 2024 SCOPE 1 GREENHOUSE GAS EMISSIONS Gross Scope 1 greenhouse gas emissions in metric tonnes of CO2 equivalent 8 704 8 650 8 349 97% 7 807 6 291 N/A 90% Share of Scope 1 greenhouse gas emissions from regulated emission trading systems (%) N/A N/A N/A N/A N/A N/A N/A N/A SCOPE 2 GREENHOUSE GAS EMISSIONS Gross Scope 2 greenhouse gas emissions in metric tonnes of CO2 equivalent (location based) 24 498 39 865 33 991 85% 34 886 12 774 N/A 88% Gross Scope 2 greenhouse gas emissions in metric tonnes of CO2 equivalent (market based) 24 604 23 916 18 523 77% 20 498 6 321 N/A 86% SIGNIFICANT SCOPE 3 GREENHOUSE GAS EMISSIONS Total indirect gross greenhouse gas emissions (Scope 3) in metric tonnes of CO2 equivalent 14 657 189 14 657 189 12 357 144 84% N/A N/A N/A N/A 1) Purchased goods and services N/A N/A 28 793 N/A N/A N/A N/A N/A 2) Capital goods N/A N/A 168 567 N/A N/A N/A N/A N/A 6) Business travel N/A N/A 332 N/A N/A N/A N/A N/A 7) Employees’ commuting N/A N/A 9 030 N/A N/A N/A N/A N/A 15) Investments 14 657 189 14 657 189 12 150 422 83% N/A N/A N/A N/A TOTAL GREENHOUSE GAS EMISSIONS Total emissions in metric tonnes of CO 2 equivalent (location- based) 32 382 14 705 704 12 399 484 84% N/A N/A N/A N/A Total emissions in metric tonnes of CO 2 equivalent (market- based) 32 513 14 689 755 12 384 016 84% N/A N/A N/A N/A * Targets do not include CO2e emissions from topping up refrigerants in installations not under the control of the Pekao Group. ** In connection with the approval of the Transition Plan of the Bank Pekao S.A. Capital Group by the Bank’s Management Board in 2025, a change was introduced whereby the base year in this report is 2024, replacing the p reviously used base year 2022. *** Due to the development of the carbon ‑footprint calculation methodology and the adjustment of the approach to presenting energy consumption from renewable sources, the results for 2024 have been recalculated. The recalculated data serve simultaneously as both the base year and comparative information.
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179 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. Greenhouse gas emissions by Scopes 1, 2 and 3 in the Bank and subsidiaries BANK COMPANIES TOTAL HISTORICAL DATA* INTERIM TARGETS AND TARGET YEARS HISTORICAL DATA* INTERIM TARGETS AND TARGET YEARS 2024 BEFORE ADJUSTMENT 2024 AFTER ADJUSTMENT** 2025 % 2025/2024 2025 2030 2050 ANNUAL TARGET IN %/ 2024 2024 BEFORE ADJUSTMENT 2024 AFTER ADJUSTMENT** 2025 % 2025/2024 2025 2030 2050 ANNUAL TARGET IN %/ 2024 SCOPE 1 GREENHOUSE GAS EMISSIONS Gross Scope 1 greenhouse gas emissions in metric tonnes of CO2 equivalent 7 667 7 667 7 317 95% N/A N/A N/A N/A 1037 984 1 032 105% N/A N/A N/A N/A Share of Scope 1 greenhouse gas emissions from regulated emission trading systems (%) N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A SCOPE 2 GREENHOUSE GAS EMISSIONS Gross Scope 2 greenhouse gas emissions in metric tonnes of CO2 equivalent (location based) 23 306 38 522 33 173 86% N/A N/A N/A N/A 1 193 1 342 818 61% N/A N/A N/A N/A Gross Scope 2 greenhouse gas emissions in metric tonnes of CO2 equivalent (market based) 23 269 22 803 17 853 78% N/A N/A N/A N/A 1 335 1 113 669 60% N/A N/A N/A N/A SIGNIFICANT SCOPE 3 GREENHOUSE GAS EMISSIONS Total indirect gross greenhouse gas emissions (Scope 3) in metric tonnes of CO2 equivalent 11 809 197 11 809 197 9 239 390 78% N/A N/A N/A N/A 2 847 993 2 847 993 3 117 753 109% N/A N/A N/A N/A 1) Purchased goods and services N/A N/A 25065 N/A N/A N/A N/A N/A N/A N/A 2728 N/A N/A N/A N/A N/A 2) Capital goods N/A N/A 12290 N/A N/A N/A N/A N/A N/A N/A 156278 N/A N/A N/A N/A N/A 6) Business travel N/A N/A 281 N/A N/A N/A N/A N/A N/A N/A 51 N/A N/A N/A N/A N/A 7) Employees’ commuting N/A N/A 7961 N/A N/A N/A N/A N/A N/A N/A 1069 N/A N/A N/A N/A N/A 15) Investments 11 809 197 11 809 197 9 192 974 78% N/A N/A N/A N/A 2 847 993 2 847 993 2 957 628 104% N/A N/A N/A N/A TOTAL GREENHOUSE GAS EMISSIONS Total emissions in metric tonnes of CO 2 equivalent (location-based) 30 152 11 855 386 9 279 880 78% N/A N/A N/A N/A 2 230 2 850 319 3 119 603 109% N/A N/A N/A N/A Total emissions in metric tonnes of CO 2 equivalent (market-based) 30 141 11 839 667 9 264 560 78% N/A N/A N/A N/A 2 372 2 850 090 3 119 454 109% N/A N/A N/A N/A * In connection with the approval of the Transition Plan of the Bank Pekao S.A. Capital Group by the Bank’s Management Board in 2025, a change was introduced whereby the base year in this report is 2024, replacing the previously used base year 2022. ** Due to the development of the carbon ‑footprint calculation methodology and the adjustment of the approach to presenting energy consumption from renewable sources, the results for 2024 have been recalculated. The recalculated data serve simultaneously as both the base year and comparative information.
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180 Report on the Activities of the Bank Pekao S.A. Group for 2025 year Bank Pekao S.A. Greenhouse gas emissions intensity ratio to revenue*: GREENHOUSE GAS EMISSIONS INTENSITY RATIO TO REVENUE 2024 2025 Total greenhouse gas emissions (location-based method) per net revenue (t CO2 equivalent/ thousand PLN) 0.65 0.53 Total greenhouse gas emissions (market-based method) per net revenue (t CO2 equivalent/thousand PLN) 0.65 0.53 *Net revenue is defined by us as revenue from: interest, fees and commissions, and dividends (values are consistent with the Bank’s Financial Statements for 2025). Greenhouse gas removals and greenhouse gas emission reduction projects funded through carbon credits [E1-7] The purpose of the disclosure on greenhouse gas removal and greenhouse gas emission reduction projects funded through carbon credits is to provide insight into the undertaking’s actions aimed at permanently removing, or actively supporting the removal of, greenhouse gases from the atmosphere, potentially contributing to future net ‑zero targets. The scope of these disclosures is not relevant to our business, as neither the Bank nor the Pekao Group carries out such projects within its own operations. Even if the Bank holds an equity stake in such projects within its value chain, it does not meet the criteria for actively supporting these actions due to the lack of control over them. Internal carbon pricing [E1-8] This disclosure concerns whether the Pekao Group uses internal carbon pricing systems and, if so, how they support decision- making and incentivise the implementation of climate -related policies and targets. As neither the Pekao Group nor the Bank engages in carbon emissions trading, the scope of this disclosure is not applicable to our business. Anticipated financial effects from material physical risks and transition risks and potential climate-related opportunities [E1-9] In accordance with the delegated regulation adopted by the European Commission on 11 July 2025, which amends Appendix C to Commission Delegated Regulation (EU) 2023/2772 of 31 July 2023, so-called “first wave” undertakings – those reporting under ESRS in 2025 for the 2024 financial year – may omit the information set out in E1 -9 in reports for 2025 and 2026. We have applied this option in the present report. 13.2.3 EU Taxonomy Regulation (EU) 2020/852 of the European Parliament and of the Council of 18 June 2020 on the establishment of a framework to facilitate sustainable investment, amending Regulation (EU) 2019/2088 – the so-called Taxonomy Regulation (hereinafter: the “Taxonomy” or the “EU Taxonomy”, “classification system”) – was developed by the European Commission as part of the European Green Deal and constitutes an important tool that enables the classification and definition of environmentally sustainable investments, thereby supporting the achievement of the European Union’s climate and energy targets set for 2030. Under the Taxonomy, environmentally sustainable investments must: • Make a substantial contribution to at least one of the six environmental objectives; • Do not significantly harm (DNSH) any of the remaining environmental objectives; • Comply with minimum safeguards. The criteria for substantial contribution and DNSH have been defined for the following environmental objectives: • Climate Change Mitigation (CCM), • Climate Change Adaptation (CCA), • Sustainable Use and Protection of Water and Marine Resources (WMR), • Transition to a Circular Economy (CE), • Pollution Prevention and Control (PPC), • Protection and Restoration of Biodiversity and Ecosystems (BIO)s.
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181 Report on the Activities of the Bank Pekao S.A. Group for 2025 year Bank Pekao S.A. Disclosures of Key Performance Indicators In accordance with EU Taxonomy and its implementing acts: • Commission Delegated Regulation (EU) 2021/2178 of 6 July 2021 supplementing Regulation (EU) 2020/852 of the European Parliament and of the Council by specifying the content and presentation of information on environmentally sustainable economic activities to be disclosed by undertakings subject to Article 19a or 29a of Directive 2013/34/EU and defining the methodology for compliance with this disclosure obligation (Regulation 2021/2178), as amended by Commission Delegated Regulation (EU) 2023/2486 of 27 June 202330; • Commission Delegated Regulation (EU) 2026/73 of 4 July 2025 amending Delegated Regulation (EU) 2021/2178 as regards the simplification of the content and presentation of information to be disclosed concerning environmentally sustainable activities and Delegated Regulations (EU) 2021/2139 and (EU) 2023/2486 as regards simplification of certain technical screening criteria for determining whether economic activities cause no significant harm to environmental objectives; • Commission Delegated Regulation (EU) 2021/2139 of 4 June 2021 supplementing Regulation (EU) 2020/852 of the European Parliament and of the Council by establishing technical screening criteria for determining the conditions under which an economic activity qualifies as contributing substantially to climate change mitigation or adaptation, as well as specifying whether that economic activity does not cause significant harm to any of the other environmental objectives, as amended by Commission Delegated Regulation (EU) 2023/2485 of 27 June 2023;31; • Commission Delegated Regulation (EU) 2023/2485 of 27 June 2023 amending Delegated Regulation (EU) 2021/2139 establishing additional technical screening criteria for determining the conditions under which certain economic activities qualify as contributing substantially to climate change mitigation or climate change adaptation and for determining whether those activities cause no significant harm to any of the other environmental objectives ; • Commission Delegated Regulation (EU) 2023/2486 of 27 June 2023 supplementing Regulation (EU) 2020/852 of the European Parliament and of the Council by establishing the technical screening criteria for determining the conditions under which an economic activity qualifies as contributing substantially to the sustainable use and protection of water and marine resources, to the transition to a circular economy, to pollution prevention and control, or to the protection and restoration of biodiversity and ecosystems and for determining whether that economic activity causes no significant harm to any of the other environmental objectives and amending Commission Delegated Regulation (EU) 2021/2178 as regards specific public disclosures for those economic activities. In its 2025 disclosures, the Pekao Group as a capital group with a credit institution as its parent entity, is required to disclose key performance indicators (KPIs) related to compliance with the Taxonomy concerning two climate targets and four environmental targets: • CCM – climate change mitigation, • CCA – climate change adaptation, • WTR – water and marine resources, • CE – circular economy, 30 Commission Delegated Regulation (EU) 2023/2486 of 27 June 2023 supplementing Regulation (EU) 2020/852 of the European Parliam ent and of the Council by establishing technical qualification criteria to determine the conditions under which an economic activit y qualifies as making a significant contribution to the sustainable use and conservation of water and marine resources, to the transition towards a closed loop economy, to the prevention and control of pollution, or to the protection and restoration of bio diversity and ecosystems, and determining whether that economic activity does not cause serious harm to any other environmental objective, and amending Commission Delegated Regulation (EU) 2021/2178 as regar ds the public disclosure of specific information in relation to those economic activities. 31 Commission Delegated Regulation (EU) 2023/2485 of 27 June 2023 amending Delegated Regulation (EU) 2021/2139 establishing additional technical screening criteria to determine the conditions under which certain economic activities qualify as contributing significantly to climate change mitigation or climate change adaptation, and to determine whether those activities do not cause significant harm to any other environmental objective.
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182 Report on the Activities of the Bank Pekao S.A. Group for 2025 year Bank Pekao S.A. • PPC – pollution prevention and control, • BIO – biodiversity and ecosystems, In its 2025 disclosures, the Pekao Group applied the approach referred to in Article 4 of Commission Delegated Regulation (EU) 2026/73 of 4 July 2025, which provides that, in respect of a financial year starting between 1 January and 31 December 2025, it is permissible to apply Delegated Regulations (EU) 2021/2178, (EU) 2021/2139 and (EU) 2023/2486 as in force on 31 December 2025 (the so -called transitional period). At the same time, in the European Commission’s draft FAQ 32 dated 17 December 2025, in questions Nos. 1 and 3 the Commission clarifies the rules under which financial institutions may make use of the transitional period, including disclosure of Template 6 ( KPI on fees and commissions income from services other than lending and asset management) and Template 7 ( KPI on the Trading book). Accordingly, in the present disclosure the Bank refrained from publishing the above templates in line with the Commission’s explanations set out in its response to FAQ question No. 3. Green Asset Ratio The Green Asset Ratio (GAR) represents the proportion of assets associated with Taxonomy -aligned economic activities in relation to total covered assets. In accordance with Delegated Regulation 2021/2178, the numerator of the Green Asset Ratio includes:: • Exposures in the form of loans/advances, debt instruments or equity instruments to financial undertakings subject to non- financial reporting obligations under the Corporate Sustainability Reporting Directive; • Exposures in the form of loans/advances, debt instruments or equity instruments to non-financial undertakings subject to non-financial reporting obligations under the Corporate Sustainability Reporting Directive; • Exposures to households, including: - loans collateralised by residential immovable property; - loans for building renovation; - motor vehicle loans; • local governments financing. In accordance with Delegated Regulation 2021/2178, the following categories of assets are excluded from the numerator and included in the denominator of the Green Asset Ratio: • Exposures to non-financial undertakings not subject to CSRD (including SMEs) – all entities to which the Group provides financing / whose instruments it holds, which are not subject to the CSRD and carry out non -financial activities; • Exposures to non-financial undertakings not subject to the CSRD, outside the EU; • The gross carrying amount of: - derivatives; - on demand interbank loans; • Cash and cash-related assets; • Other assets (goodwill, commodities, etc.). The following categories of assets are not included in the calculation of the Green Asset Ratio (i.e., in either the numerator or denominator of the ratio): • Exposures to central governments and supranational issuers; • Exposures to central banks; • Trading portfolio. Pursuant to Delegated Regulation 2021/2178, financial undertakings use the latest available data and KPIs of their counterparties to calculate their own KPIs. To comply this requirement, the Group, based on the 2024 non-financial reports of 32 Draft Commission Notice on the interpretation and implementation of certain legal provisions of the Disclosures Delegated Act under Article 8 of the EU Taxonomy Regulation, as amended by the Omnibus Delegated Act, on the reporting of Taxonomy-eligible and Taxonomy-aligned economic activities and assets (fourth notice).
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183 Report on the Activities of the Bank Pekao S.A. Group for 2025 year Bank Pekao S.A. customers that are financial undertakings and non -financial undertakings, verified whether those counterparties had made changes to their calculations since the last reporting period and whether they had presented comparative data. Given that the reformulated KPIs identified by us as the Pekao Group, originating from counterparty undertakings, do not have a material impact on the values of the KPIs published in the Taxonomy disclosure for 2024, we did not present reformulated data, and the value of assets for the purposes of calculating the Green Asset Ratio as at 31 December 2024 presented in Template 1 is identical to its value in the Taxonomy disclosure for 2024. Key Performance Indicators for Off-Balance-sheet Exposures Key performance indicators for off-balance-sheet items are supplementary indicators that show the extent to which the Pekao Group’s off-balance-sheet items, such as: • Financial guarantees securing loans and advances and debt securities to undertakings subject to the CSRD Directive, • Assets under management (equity and debt instruments) of undertakings subject to the CSRD Directive . Green Asset Ratio for Financial Guarantees represents the proportion of financial guarantees supporting loans and advances and debt securities financing Taxonomy-aligned economic activities, in relation to all financial guarantees supporting loans and advances and debt securities for undertakings. Green Asset Ratio for Assets Under Management presents the proportion of assets under management (equity instruments, debt instruments) from undertakings financing Taxonomy -aligned economic activities, in relation to total assets under management (equity instruments, debt instruments and other assets). Financing of entities subject to non-financial reporting obligations under Corporate Sustainability Reporting Directive For the purposes of disclosures of key performance indicators, the Bank and its subsidiaries analysed their exposures to financial institutions and non -financial undertakings in order to identify customers subject to non -financial data reporting requirements under CSRD. The identification of entities subject to CSRD is based on internal data resources, combined with information available on th e BIK ESG Platform and the Instrat Foundation’s CSRD compan ies list. For entities operating outside Poland, an expert review of the portfolio is performed. At the same time, in light of the amendments introduced by the so ‑called Omnibus I package to the Accounting Directive (2013/34/EU), which narrow the scope of entities subject to mandatory sustainability reporting requirements, the Pekao Group has applied in its current reporting the definition of large undertakings that was in force prior to the entry into effect of Omnibus I. Under this definition, large undertakings are those which, as at the balance ‑sheet date, exceed at least two of the following three criteria: an average number of employees of 250; a balance‑sheet total of EUR 25 million; net turnover of EUR 50 million in the financial year.. We also determined the gross carrying amount of exposures in the form of loans and advances, debt securities and equity instruments in the banking book separately for each identified entity as of 31 December 2025. For general-purpose financing, the Group determined the gross carrying amount of Taxonomy-eligible and Taxonomy-aligned exposures for customers subject to CSRD based on the key performance indicators published by these customers in their Taxonomy disclosures for 2024. The Group did not assess exposures to undertakings which, individually, were not subject to CSRD but are subsidiaries of a parent undertaking subject to those provisions. For exposures to a subsidiary of a parent undertaking subject to CSRD, but exempt from sustainability reporting at individual level, we applied the key performance indicator for that undertaking as disclosed by its parent undertaking. Due to limited access to data and documents evidencing Taxonomy alignment, the Pekao Group did not assessed any financings with a specific use of proceeds as Taxonomy-aligned, disclosing them only as Taxonomy-eligible exposures. Where sufficient data was unavailable to reliably assess compliance with the technical screening criteria, the Group only assessed the Taxonomy eligibility of the exposure. Regarding the assessment of compliance with Minimum Safeguards, the Group based its assessment on information disclosed by customers in their Taxonomy disclosures. The Group is working on implementing appropriate changes in credit processes so that, in subsequent reporting periods, the relevant data can be obtained to assess Taxonomy eligibility and alignment at the financing origination stage.
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184 Report on the Activities of the Bank Pekao S.A. Group for 2025 year Bank Pekao S.A. Household Financing To calculate the Green Asset Ratio, the Group classified its portfolio of residential real estate loans (secured by residential real estate) granted to households as Taxonomy -eligible and assessed Taxonomy alignment by verifying compliance with the criteria set out in Section 7.7 (Acquisition and ownership of buildings) of the technical screening criteria for the climate change mitigation, as set out in Annex I to Delegated Regulation 2021/2139. We carried out the Taxonomy alignment assessment in accordance with Section 1.2.1.3 of Annex V to Delegated Regulation 2021/2178, which relates to retail clients. The assessment covered verification of compliance with the substantial contributi on criteria for climate change mitigation and the “do no significant harm” (DNSH) criteria; however, it did not cover – as set forth in the afore-mentioned sections – minimum safeguards. The Group’s disclosures relating to retail clients cover residential real estate loans (collateralised by residential real e state) and do not include exposures related to the purchase of products and services, such as electric vehicles or photovoltaic panels. Consequently, the Pekao Group has not collected documentation confirming that undertakings producing goods and providing services purchased by retail clients comply with the relevant technical screening criteria and minimum safeguards. To assess compliance with the substantial contribution criteria for residential buildings constructed before 31 December 2020, the Group assessed whether the building serving as collateral belongs to the top 15% most energy-efficient buildings in the country or region in terms of primary energy demand (PED), i.e. whether, in line with communication of the Ministry of Development and Technology, the building has a primary energy demand lower than the values specified in Table 1 33 of that communication. As a source of information on the primary energy demand of buildings serving as collateral for mortgage loans, we used data from energy performance certificates and data contained in the Central Register of Building Energy Performance maintained by the Minister of Development and Technology. To assess compliance with the substantial contribution criteria for buildings constructed after 31 December 2020, the Group assessed whether the building serving as collateral has a primary energy demand at least 10% lower than the threshold specified for nearly zero-energy buildings, i.e. the requirements laid down in the Regulation of the Minister of Infrastructure of 12 April 2002 on building technical requirements and their loca tions. The Regulation sets maximum levels of primary energy demand for nearly zero-energy buildings separately for multi-family and single-family buildings. Exposures for which the Group did not have energy demand data were disclosed as Taxonomy-eligible but not Taxonomy-aligned. For properties that, as a result of the above assessment process, were classified as meeting the substantial contribution criteria, the Pekao Group analysed compliance with the DNSH criteria by analysing the exposure of the property to physical risks (including flood and landslide risks) and the materiality of that risk in accordance with internal methodology. In the assessment, we took into account, among other factors, the property address, year of construction, the floor of the unit and the building type. The Group considered buildings to meet the DNSH criteria where the analysis indicated no exposure to physical risks, or where exposure to physical risks was assessed as not high in accordance with the adopted methodology. As of 31 December 2025, we did not identify, in the Group’s loan portfolio, financing granted to households for building renovation or the purchase of motor vehicles. Local governments financing To support key performance indicator disclosures, the Group conducted a review of its exposure to local government s, identifying financings with a defined use of proceeds that contributes to the Green Asset Ratio. Based on the purpose of financing, the Group identified Taxonomy -eligible loans for local governments and conducted an additional Taxonomy alignment assessment. This assessment considered compliance with substantial contribution criteria, and Do No Significant Harm (DNSH) criteria. For the assessment of the substantial contribution and DNSH criteria, we developed internal instructions for assessing compliance with the technical screening criteria for activities that most commonly constitute the subject of financing granted to local governments. Due to limited access to data and documents enabling confirmation of alignment with the EU Taxonomy, the Group did not classify these financings as Taxonomy-aligned , disclosing them only as Taxonomy-eligible exposures. The Group is continuing its efforts to enhance credit processes, which will enable the collection of comprehensive data at th e financing approval stage to better assess Taxonomy eligibility and alignment in the future. As of 31 December 202 5, the Group did not identify any financing in its credit portfolio related to public housing projects for local government entities. 33 Reference to the Ministry of Development and Technology’s announcement: Table 1 Energy demand values corresponding to the 15% most energy-efficient buildings.
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185 Report on the Activities of the Bank Pekao S.A. Group for 2025 year Bank Pekao S.A. Explanations Regarding the Nature and Objectives of Taxonomy-Aligned Business Activities and Their Development Over Time, Starting from the Second Year of Implementation, with a Distinction Between Business -Related, Methodological, and Data-Related Elements The largest share of the Group’s Taxonomy -aligned assets consisted of exposures to households in the form of mortgage loans for housing purposes, representing 91.3% of the assets included in the numerator of the GAR turnover -based KPI and 82.2% of the GAR CapEx-based KPI. Exposures to non-financial undertakings related to general-purpose financing, accounted for 8.6% of the assets included in the numerator of the GAR turnover -based KPI and 17.7% of the GAR CapEx-based KPI. Among non-financial undertakings subject to the CSRD Directive that are customers of the Bank and Group entities, the highest Taxonomy alignment indicators are reported by undertakings operating in sectors related to the generation, distribution and trading of electricity, as well as fuel production, transport and the manufacture of machinery for the extractive industry. The sustainable activities reported by non-financial undertakings identified in the Group’s portfolio primarily contributed to the CCM (Climate Change Mitigation) objective. Compared with the information disclosed by the Group for 2024, the value of the Green Asset Ratio increased both in relation to turnover (an increase of 0.81 p.p. year-on-year) and in relation to capital expenditure (an increase of 0.53 p.p. year-on-year). These changes are driven mainly by a significant increase in the value of environmentally sustainable (Taxonomy -aligned) exposures in the portfolio of mortgage loans for housing purposes granted to households, with a broadly comparable year-on- year value of total covered assets (included in the denominator of that ratio). A material factor influencing the value of Taxonomy‑aligned household exposures was the change in the distribution of primary energy demand of buildings in the country and, consequently, the change in the primary energy demand threshold corresponding to the 15% most energy ‑efficient buildings. This threshold, set out in the communication of the Ministry of Development and Technology, increased in 2025 compared with the previous year . With respect to general ‑purpose financing for non ‑financial corporations, the gross carrying amount of Taxonomy ‑aligned exposures decreased compared with the previous reporting period due to changes in the portfolio structure and client base. The Group did not introduce any changes to the methodology applied for assessing Taxonomy alignment, nor to the data sources used, which—similarly to the previous year—were the Taxonomy disclosures of the Group’s clients. Compliance with Regulation (EU) 2020/852 in Business Strategy, Product Design, and Collaboration with Customers and Counterparties. Additional or Supplementary Information Regarding the Bank’s Strategy and the Significance of Financing Taxonomy-Aligned Business Activities Within the Overall Business Operations. In 2025, the Bank presented its business strategy for 2025–2027, of which ESG forms an integral part. Environmental, social and governance (ESG) aspects remain an important pillar of the Bank’s strategy. In line with the targets set, the Bank will focus on supporting clients in their transformation and in mee ting environmental, social and governance requirements – at a pace that reflects their actual operational, financial and sector-specific capabilities. In the environmental area, the Bank supports the objectives of the energy and climate transition, while aligning the pace and scale of actions with market conditions. Our ambition is to provide new financing for green projects in the amount of PLN 9 billion. We define green projects as financing for: renewable energy sources, low-emission transport, energy-efficient construction, energy efficiency, the circular economy, biodiversity, prevention pollution, and the protection of water resources. These activities contribute to achieving all six environmental objectives covered by the EU Taxonomy, i.e.: climate change mitigation, climate change adaptation, water and marine resources, pollution prevention and control, biodiversity and ecosystems. In addition, Bank Pekao adopted the “Transition Plan of the Bank Pekao S.A. Capital Group”, covering targets and actions related to the Bank’s own activities as well as financed emissions in the loan and investment portfolio of the Bank’s capital group. The Transition Plan supports the implementation of the Bank’s strategic objectives for 2025 –2027 in the area of sustainable development, primarily the ambition to achieve climate neutrality of the Capital Group by 2050. The implementation of the Transition P lan’s assumptions will also be supported by the development of a model for cooperation with clients that facilitates their transformation towards sustainable activities. Compliance with the Taxonomy’s technical screening criteria is one of the assumptions underpinning the main decarbonisation levers on the Bank’s side, as set out in the Transition Plan for residential real estate loans. For both the primary and secondary markets, a gradual increase in mortgage loans aligned with the Taxonomy’s technical screening criteria is assumed. The share of exposures contributing to the achievement of the Transition Plan’s targets for mortgage loans will be monitored and reported to the Bank’s Management Board and to the ESG Council. At the same time, we continue to work on developing a product offering that supports the sustainable development of our clients and is tailored to the expectations of individual business segments . These efforts are complemented by educational and informational initiatives on climate and the environment, discussed in more detail in chapter [E1-3].
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186 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Disclosures based on the counterparty key performance indicator in relation to turnover (KPI Turnover) Template 0: Summary of KPIsto be disclosed by credit institutions under Article 8 Taxonomy Regulation [PLN million] as at 31.12.2025 Total environmentally sustainable assets34 Key Performance Indicator KPI - Turnover Key Performance Indicator KPI – Capex % coverage (over total assets) % of assets excluded from the numerator of the GAR (Article 7(2) and (3) and section 1.1.2 of Annex v) % of assets excluded from the denominator of the GAR(Article 7(1) and Section 1.2.4 of Annex v) Main KPI Green Asset Ratio GAR stock 4,373 1.72% 1.91% 70.98% 42.24% 29.02% Total environmentally sustainable activities Key Performance Indicator KPI - Turnover Key Performance Indicator KPI – Capex % coverage (over total assets) % of assets excluded from the numerator of the GAR (Article 7(2) and (3) and Section 1.1.2 of Annex V) % of assets excluded from the denominator of the GAR (Article 7(1) and Section 1.2.4 of Annex V) Additional KPIs Green Asset Ratio (flow) 1072 1.15% 1.33% 79.22% 55.78% 20.78% Financial Guarantees 82 0.23% 0.59% Assets under management 379 5.92% 10.08% 34 Environmentally sustainable assets in relation to KPI Turnover.
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187 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Template 0: Summary of KPIsto be disclosed by credit institutions under Article 8 Taxonomy Regulation [PLN million] as at 31.12.2024 Total environmentally sustainable assets35 Key Performance Indicator KPI - Turnover Key Performance Indicator KPI – Capex % coverage (over total assets) % of assets excluded from the numerator of the GAR (Article 7(2) and (3) and section 1.1.2 of Annex v) % of assets excluded from the denominator of the GAR(Article 7(1) and Section 1.2.4 of Annex v) Main KPI Green Asset Ratio GAR stock 2 092 0,88% 1,34% 69,62% 40,09% 30,38% Total environmentally sustainable activities Key Performance Indicator KPI - Turnover Key Performance Indicator KPI – Capex % coverage (over total assets) % of assets excluded from the numerator of the GAR (Article 7(2) and (3) and Section 1.1.2 of Annex V) % of assets excluded from the denominator of the GAR (Article 7(1) and Section 1.2.4 of Annex V) Additional KPIs Green Asset Ratio (flow) 609 0,74% 1,51% 83,02% 55,54% 16,98% Financial Guarantees 48 0,15% 0,75% Assets under management 114 2,77% 15,97% 35 Environmentally sustainable assets in relation to KPI Turnover.
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188 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Template 1: Assets for the calculation of GAR as at 31 December 2025 – Part 1 [PLN million] a b c d e f g h i j k l m n PLN million 31.12.2025 Total (gross) carrying amount Climate Change Mitigation (CCM) Climate Change Adaptation (CCA) Water and Marine Resources (WMR) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which environmentally sustainable (taxonomy -aligned) Of which environmentally sustainable (taxonomy-aligned) Of which environmentally sustainable (taxonomy-aligned) Of which Use Proceeds Of which transitional Of which enabling Of which Use Proceeds Of which enabling Of which Use Proceeds Of which enabling GAR - Covered assets in both numerator and denominator 1 Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation 103,113 68,823 4,365 1 1 245 282 1 0 1 0 0 0 0 2 Financial Undertakings 1,075 104 6 1 1 1 1 0 0 0 0 0 0 0 3 Credit Institutions 1,074 104 6 1 1 1 1 0 0 0 0 0 0 0 4 Loans and Advances 858 99 6 1 1 1 1 0 0 0 0 0 0 0 5 Debt securities, including UoP 216 5 0 0 0 0 0 0 0 0 0 0 0 0 6 Equity Instruments 0 0 0 0 0 0 0 0 0 0 0 7 Other financial corporations 1 0 0 0 0 0 0 0 0 0 0 0 0 0 8 Of which investment firms 0 0 0 0 0 0 0 0 0 0 0 0 0 0 9 Loans and Advances 0 0 0 0 0 0 0 0 0 0 0 0 0 0 10 Debt securities, including UoP 0 0 0 0 0 0 0 0 0 0 0 0 0 0 11 Equity Instruments 0 0 0 0 0 0 0 0 0 0 0 12 of which asset management companies 0 0 0 0 0 0 0 0 0 0 0 0 0 0 13 Loans and Advances 0 0 0 0 0 0 0 0 0 0 0 0 0 0 14 Debt securities, including UoP 0 0 0 0 0 0 0 0 0 0 0 0 0 0 15 Equity Instruments 0 0 0 0 0 0 0 0 0 0 0 16 Of which insurance undertakings 1 0 0 0 0 0 0 0 0 0 0 0 0 0 17 Loans and Advances 1 0 0 0 0 0 0 0 0 0 0 0 0 0 18 Debt securities, including UoP 0 0 0 0 0 0 0 0 0 0 0 0 0 0 19 Equity Instruments 0 0 0 0 0 0 0 0 0 0 0 20 Non-Financial Undertakings 8,382 914 366 0 0 244 281 1 0 1 0 0 0 0 21 Loans and Advances 6,391 752 250 0 0 151 267 0 0 0 0 0 0 0 22 Debt securities, including UoP 1,969 148 106 0 0 88 14 0 0 0 0 0 0 0 23 Equity Instruments 23 14 9 0 5 0 0 0 0 0 0
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189 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 a b c d e f g h i j k l m n PLN million 31.12.2025 Total (gross) carrying amount Climate Change Mitigation (CCM) Climate Change Adaptation (CCA) Water and Marine Resources (WMR) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which environmentally sustainable (taxonomy - aligned) Of which environmentally sustainable (taxonomy-aligned) Of which environmentally sustainable (taxonomy-aligned) Of which Use Proceeds Of which transitional Of which enabling Of which Use Proceeds Of which enabling Of which Use Proceeds Of which enabling 24 Households 92,070 66,916 3,993 0 0 0 0 0 0 0 25 Of which loans collateralised by residential immovable property 66,919 66,916 3,993 0 0 0 0 0 0 0 26 Of which building renovation loansOf which building renovation loans 0 0 0 0 0 0 0 0 0 0 27 Of which motor vehicle loans 0 0 0 0 0 0 28 Local governments financing 1,585 888 0 0 0 0 0 0 0 0 0 0 0 0 29 Housing Financing 0 0 0 0 0 0 0 0 0 0 0 0 0 0 30 Other Local Government Financing 1,585 888 0 0 0 0 0 0 0 0 0 0 0 0 31 Collateral obtained by taking possession: residential and commercial immovable properties 0 0 0 0 0 0 0 0 0 0 0 0 0 0 32 Assets excluded from the numerator for GAR calculation (covered in the denominator) 151,546 33 Non-Financial Undertakings 100,056 34 SMEs and NFCs (other than SMEs) not subject to NFRD disclosure obligations 98,696 35 Loans and Advances 89,713 36 Of which loans collateralised by commercial immovable property 28,075 37 Of which building renovation loans 0 38 Debt Securities 8,215 39 Equity Instruments 768 40 Non-EU country counterparties not subject to NFRD disclosure obligations 1,360 41 Loans and Advances 1,040 42 Debt Securities 51 43 Equity Instruments 269 44 Derivatives 1,233 45 On demand interbank loans 403 46 Cash and Cash-Related Assets 4,581 47 Other categories of assets (e.g. Goodwill, commodities etc.) 45,274 48 Total GAR assets 254,659 68,823 4,365 1 1 245 282 1 0 1 0 0 0 0
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190 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 a b c d e f g h i j k l m n PLN million 31.12.2025 Total (gross) carrying amount Climate Change Mitigation (CCM) Climate Change Adaptation (CCA) Water and Marine Resources (WMR) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which environmentally sustainable (taxonomy - aligned) Of which environmentally sustainable (taxonomy-aligned) Of which environmentally sustainable (taxonomy-aligned) Of which Use Proceeds Of which transitional Of which enabling Of which Use Proceeds Of which enabling Of which Use Proceeds Of which enabling 49 Assets not covered for GAR calculation 104,110 50 Central Governments and Supranational Issuers 78,222 51 Central banks exposure 18,432 52 Trading book 7,455 53 Total Assets 358,769 68,823 4,365 1 1 245 282 1 0 1 0 0 0 0 Off-Balance Sheet Exposures – Undertakings subject to NFRD disclosure obligations 54 Financial Guarantees 35,402 83 82 0 0 72 0 0 0 0 0 0 0 0 55 Assets under management 6,399 1,484 372 0 59 225 667 7 0 0 0 0 0 0 56 Of which Debt Securities 3,807 1,051 277 0 59 156 430 0 0 0 0 0 0 0 57 Of which Equity Instruments 2,591 433 95 0 0 69 238 6 0 0 0 0 0 0
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191 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Template 1: Assets for the calculation of GAR as at 31 December 2025 – Part 2 [PLN million] a o p q r s t u v PLN million 31.12.2025 Total (gross) carrying amount Circular Economy (CE) Pollution (PPC) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which environmentally sustainable (taxonomy - aligned) Of which environmentally sustainable (taxonomy -aligned) Of which Use Proceeds Of which enabling Of which Use Proceeds Of which enabling GAR - Covered assets in both numerator and denominator 1 Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation 103,113 24 8 0 0 0 0 0 0 2 Financial Undertakings 1,075 0 0 0 0 0 0 0 0 3 Credit Institutions 1,074 0 0 0 0 0 0 0 0 4 Loans and Advances 858 0 0 0 0 0 0 0 0 5 Debt securities, including UoP 216 0 0 0 0 0 0 0 0 6 Equity Instruments 0 0 0 0 0 0 0 7 Other financial corporations 1 0 0 0 0 0 0 0 0 8 Of which investment firms 0 0 0 0 0 0 0 0 0 9 Loans and Advances 0 0 0 0 0 0 0 0 0 10 Debt securities, including UoP 0 0 0 0 0 0 0 0 0 11 Equity Instruments 0 0 0 0 0 0 0 12 of which asset management companies 0 0 0 0 0 0 0 0 0 13 Loans and Advances 0 0 0 0 0 0 0 0 0 14 Debt securities, including UoP 0 0 0 0 0 0 0 0 0 15 Equity Instruments 0 0 0 0 0 0 0 16 Of which insurance undertakings 1 0 0 0 0 0 0 0 0 17 Loans and Advances 1 0 0 0 0 0 0 0 0 18 Debt securities, including UoP 0 0 0 0 0 0 0 0 0 19 Equity Instruments 0 0 0 0 0 0 0 20 Non-Financial Undertakings 8,382 24 8 0 0 0 0 0 0 21 Loans and Advances 6,391 20 8 0 0 0 0 0 0 22 Debt securities, including UoP 1,969 4 0 0 0 0 0 0 0 23 Equity Instruments 23 0 0 0 0 0 0
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192 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 a o p q r s t u v PLN million 31.12.2025 Total (gross) carrying amount Circular Economy (CE) Pollution (PPC) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which environmentally sustainable (taxonomy - aligned) Of which environmentally sustainable (taxonomy -aligned) Of which Use Proceeds Of which enabling Of which Use Proceeds Of which enabling 24 Households 92,070 0 0 0 0 25 Of which loans collateralised by residential immovable property 66,919 0 0 0 0 26 Of which building renovation loansOf which building renovation loans 0 0 0 0 0 27 Of which motor vehicle loans 0 28 Local governments financing 1,585 0 0 0 0 0 0 0 0 29 Housing Financing 0 0 0 0 0 0 0 0 0 30 Other Local Government Financing 1,585 0 0 0 0 0 0 0 0 31 Collateral obtained by taking possession: residential and commercial immovable properties 0 0 0 0 0 0 0 0 0 32 Assets excluded from the numerator for GAR calculation (covered in the denominator) 151,546 33 Non-Financial Undertakings 100,056 34 SMEs and NFCs (other than SMEs) not subject to NFRD disclosure obligations 98,696 35 Loans and Advances 89,713 36 Of which loans collateralised by commercial immovable property 28,075 37 Of which building renovation loans 0 38 Debt Securities 8,215 39 Equity Instruments 768 40 Non-EU country counterparties not subject to NFRD disclosure obligations 1,360 41 Loans and Advances 1,040 42 Debt Securities 51 43 Equity Instruments 269 44 Derivatives 1,233 45 On demand interbank loans 403 46 Cash and Cash-Related Assets 4,581 47 Other categories of assets (e.g. Goodwill, commodities etc.) 45,274 48 Total GAR assets 254,659 24 8 0 0 0 0 0 0
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193 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 a o p q r s t u v PLN million 31.12.2025 Total (gross) carrying amount Circular Economy (CE) Pollution (PPC) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which environmentally sustainable (taxonomy- aligned) Of which environmentally sustainable (taxonomy -aligned) Of which Use Proceeds Of which enabling Of which Use Proceeds Of which enabling 49 Assets not covered for GAR calculation 104,110 50 Central Governments and Supranational Issuers 78,222 51 Central banks exposure 18,432 52 Trading book 7,455 53 Total Assets 358,769 0 0 0 0 0 0 0 0 Off-Balance Sheet Exposures – Undertakings subject to NFRD disclosure obligations 54 Financial Guarantees 35,402 0 0 0 0 0 0 0 0 55 Assets under management 6,399 0 0 0 8 0 0 0 0 56 Of which Debt Securities 3,807 0 0 0 0 0 0 0 0 57 Of which Equity Instruments 2,591 0 0 0 8 0 0 0 0
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194 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Template 1: Assets for the calculation of GAR as at 31 December 2025 – Part 3 [PLN million] a w x z aa ab ac ad ae af PLN million 31.12.2025 Total (gross) carrying amount Biodiversity and Ecosystems (BIO) TOTAL (CCM + CCA + WTR + CE + PPC + BIO) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which environmentally sustainable (taxonomy- aligned) Of which environmentally sustainable (taxonomy -aligned) Of which Use Proceeds Of which enabling Of which Use Proceeds Of which transitional Of which enabling GAR - Covered assets in both numerator and denominator 1 Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation 103,113 1 0 0 0 69,130 4,373 1 1 246 2 Financial Undertakings 1,075 0 0 0 0 106 6 1 1 1 3 Credit Institutions 1,074 0 0 0 0 106 6 1 1 1 4 Loans and Advances 858 0 0 0 0 100 6 1 1 1 5 Debt securities, including UoP 216 0 0 0 0 5 0 0 0 0 6 Equity Instruments 0 0 0 0 0 0 0 0 7 Other financial corporations 1 0 0 0 0 0 0 0 0 0 8 Of which investment firms 0 0 0 0 0 0 0 0 0 0 9 Loans and Advances 0 0 0 0 0 0 0 0 0 0 10 Debt securities, including UoP 0 0 0 0 0 0 0 0 0 0 11 Equity Instruments 0 0 0 0 0 0 0 0 12 of which asset management companies 0 0 0 0 0 0 0 0 0 0 13 Loans and Advances 0 0 0 0 0 0 0 0 0 0 14 Debt securities, including UoP 0 0 0 0 0 0 0 0 0 0 15 Equity Instruments 0 0 0 0 0 0 0 0 16 Of which insurance undertakings 1 0 0 0 0 0 0 0 0 0 17 Loans and Advances 1 0 0 0 0 0 0 0 0 0 18 Debt securities, including UoP 0 0 0 0 0 0 0 0 0 0 19 Equity Instruments 0 0 0 0 0 0 0 0 20 Non-Financial Undertakings 8,382 1 0 0 0 1,220 374 0 0 245 21 Loans and Advances 6,391 0 0 0 0 1,040 259 0 0 151 22 Debt securities, including UoP 1,969 0 0 0 0 166 107 0 0 88 23 Equity Instruments 23 0 0 0 14 9 0 5
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195 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 a w x z aa ab ac ad ae af PLN million 31.12.2025 Total (gross) carrying amount Biodiversity and Ecosystems (BIO) TOTAL (CCM + CCA + WTR + CE + PPC + BIO) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which environmentally sustainable (taxonomy - aligned) Of which environmentally sustainable (taxonomy -aligned) Of which Use Proceeds Of which enabling Of which Use Proceeds Of which transitional Of which enabling 24 Households 92,070 66,916 3,993 0 0 0 25 Of which loans collateralised by residential immovable property 66,919 66,916 3,993 0 0 0 26 Of which building renovation loans 0 0 0 0 0 0 27 Of which motor vehicle loans 0 0 0 0 0 0 28 Local governments financing 1,585 0 0 0 0 888 0 0 0 0 29 Housing Financing 0 0 0 0 0 0 0 0 0 0 30 Other Local Government Financing 1,585 0 0 0 0 888 0 0 0 0 31 Collateral obtained by taking possession: residential and commercial immovable properties 0 0 0 0 0 0 0 0 0 0 32 Assets excluded from the numerator for GAR calculation (covered in the denominator) 151,546 33 Non-Financial Undertakings 100,056 34 SMEs and NFCs (other than SMEs) not subject to NFRD disclosure obligations 98,696 35 Loans and Advances 89,713 36 Of which loans collateralised by commercial immovable property 28,075 37 Of which building renovation loans 0 38 Debt Securities 8,215 39 Equity Instruments 768 40 Non-EU country counterparties not subject to NFRD disclosure obligations 1,360 41 Loans and Advances 1,040 42 Debt Securities 51 43 Equity Instruments 269 44 Derivatives 1,233 45 On demand interbank loans 403 46 Cash and Cash-Related Assets 4,581 47 Other categories of assets (e.g. Goodwill, commodities etc.) 45,274 48 Total GAR assets 254,659 1 0 0 0 69,130 4,373 1 1 246
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196 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 a w x z aa ab ac ad ae af PLN million 31.12.2025 Total (gross) carrying amount Biodiversity and Ecosystems (BIO) TOTAL (CCM + CCA + WTR + CE + PPC + BIO) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which environmentally sustainable (taxonomy - aligned) Of which environmentally sustainable (taxonomy -aligned) Of which Use Proceeds Of which enabling Of which Use Proceeds Of which transitional Of which enabling 49 Assets not covered for GAR calculation 104,110 50 Central Governments and Supranational Issuers 78,222 51 Central banks exposure 18,432 52 Trading book 7,455 53 Total Assets 358,769 0 0 0 0 69,130 4,373 1 1 246 Off-Balance Sheet Exposures – Undertakings subject to NFRD disclosure obligations 54 Financial Guarantees 35,402 0 0 0 0 83 82 0 0 72 55 Assets under management 6,399 0 0 0 2,199 379 0 59 226 2,471 56 Of which Debt Securities 3,807 0 0 0 1,482 278 0 59 156 1,638 57 Of which Equity Instruments 2,591 0 0 0 717 101 0 0 70 833
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197 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Template 1: Assets for the calculation of GAR as at 31 December 2025 – Part 1 [PLN million] a b c d e f g h i j k l m n PLN million 31.12.2024 Total (gross) carrying amount Climate Change Mitigation (CCM) Climate Change Adaptation (CCA) Water and Marine Resources (WMR) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which environmentally sustainable (taxonomy -aligned) Of which environmentally sustainable (taxonomy-aligned) Of which environmentally sustainable (taxonomy-aligned) Of which Use Proceeds Of which transitional Of which enabling Of which Use Proceeds Of which enabling Of which Use Proceeds Of which enabling GAR - Covered assets in both numerator and denominator 1 Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation 100,499 63,935 2,052 0 2 390 60 41 0 28 0 0 0 0 2 Financial Undertakings 1,111 157 4 0 2 1 1 0 0 0 0 0 0 0 3 Credit Institutions 1,110 157 4 0 2 1 1 0 0 0 0 0 0 0 4 Loans and Advances 1,110 157 4 0 2 1 1 0 0 0 0 0 0 0 5 Debt securities, including UoP 0 0 0 0 0 0 0 0 0 0 0 0 0 0 6 Equity Instruments 0 0 0 0 0 0 0 0 0 0 0 7 Other financial corporations 0 0 0 0 0 0 0 0 0 0 0 0 0 0 8 Of which investment firms 0 0 0 0 0 0 0 0 0 0 0 0 0 0 9 Loans and Advances 0 0 0 0 0 0 0 0 0 0 0 0 0 0 10 Debt securities, including UoP 0 0 0 0 0 0 0 0 0 0 0 0 0 0 11 Equity Instruments 0 0 0 0 0 0 0 0 0 0 0 12 of which asset management companies 0 0 0 0 0 0 0 0 0 0 0 0 0 0 13 Loans and Advances 0 0 0 0 0 0 0 0 0 0 0 0 0 0 14 Debt securities, including UoP 0 0 0 0 0 0 0 0 0 0 0 0 0 0 15 Equity Instruments 0 0 0 0 0 0 0 0 0 0 0 16 Of which insurance undertakings 0 0 0 0 0 0 0 0 0 0 0 0 0 0 17 Loans and Advances 0 0 0 0 0 0 0 0 0 0 0 0 0 0 18 Debt securities, including UoP 0 0 0 0 0 0 0 0 0 0 0 0 0 0 19 Equity Instruments 0 0 0 0 0 0 0 0 0 0 0 20 Non-Financial Undertakings 8,817 1,459 519 0 0 388 59 41 0 27 0 0 0 0 21 Loans and Advances 7,429 1,059 325 0 0 224 29 12 0 12 0 0 0 0 22 Debt securities, including UoP 1,365 386 187 0 0 161 30 28 0 15 0 0 0 0 23 Equity Instruments 23 14 7 0 3 0 0 0 0 0 0
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198 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 a b c d e f g h i j k l m n PLN million 31.12.2024 Total (gross) carrying amount Climate Change Mitigation (CCM) Climate Change Adaptation (CCA) Water and Marine Resources (WMR) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which environmentally sustainable (taxonomy - aligned) Of which environmentally sustainable (taxonomy-aligned) Of which environmentally sustainable (taxonomy-aligned) Of which Use Proceeds Of which transitional Of which enabling Of which Use Proceeds Of which enabling Of which Use Proceeds Of which enabling 24 Households 88,912 61,233 1,528 0 0 0 0 0 0 0 0 0 0 0 25 Of which loans collateralised by residential immovable property 61,236 61,233 1,528 0 0 0 0 0 0 0 0 0 0 0 26 Of which building renovation loans 0 0 0 0 0 0 0 0 0 0 0 0 0 0 27 Of which motor vehicle loans 0 0 0 0 0 0 0 0 0 0 0 0 0 0 28 Local governments financing 1,659 1,087 0 0 0 0 0 0 0 0 0 0 0 0 29 Housing Financing 0 0 0 0 0 0 0 0 0 0 0 0 0 0 30 Other Local Government Financing 1,659 1,087 0 0 0 0 0 0 0 0 0 0 0 0 31 Collateral obtained by taking possession: residential and commercial immovable properties 0 0 0 0 0 0 0 0 0 0 0 0 0 0 32 Assets excluded from the numerator for GAR calculation (covered in the denominator) 136,456 33 Non-Financial Undertakings 87,797 34 SMEs and NFCs (other than SMEs) not subject to NFRD disclosure obligations 86,675 35 Loans and Advances 77,835 36 Of which loans collateralised by commercial immovable property 22,019 37 Of which building renovation loans 0 38 Debt Securities 8,407 39 Equity Instruments 434 40 Non-EU country counterparties not subject to NFRD disclosure obligations 1,122 41 Loans and Advances 741 42 Debt Securities 109 43 Equity Instruments 272 44 Derivatives 448 45 On demand interbank loans 493 46 Cash and Cash-Related Assets 4,461 47 Other categories of assets (e.g. Goodwill, commodities etc.) 43,257 48 Total GAR assets 236,955 63,935 2,052 0 2 390 60 41 0 28 0 0 0 0
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199 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 a b c d e f g h i j k l m n PLN million 31.12.2024 Total (gross) carrying amount Climate Change Mitigation (CCM) Climate Change Adaptation (CCA) Water and Marine Resources (WMR) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which environmentally sustainable (taxonomy -aligned) Of which environmentally sustainable (taxonomy-aligned) Of which environmentally sustainable (taxonomy-aligned) Of which Use Proceeds Of which transitional Of which enabling Of which Use Proceeds Of which enabling Of which Use Proceeds Of which enabling 49 Assets not covered for GAR calculation 103,416 50 Central Governments and Supranational Issuers 64,146 51 Central banks exposure 33,632 52 Trading book 5,639 53 Total Assets 340,371 63,935 2,052 0 2 390 60 41 0 28 0 0 0 0 Off-Balance Sheet Exposures – Undertakings subject to NFRD disclosure obligations 54 Financial Guarantees 31,701 49 48 0 0 41 0 0 0 0 0 0 0 0 55 Assets under management 4,114 358 70 0 0 45 272 44 0 4 0 0 0 0 56 Of which Debt Securities 2,202 60 2 0 0 0 61 0 0 0 0 0 0 0 57 Of which Equity Instruments 1,912 297 68 0 0 45 210 44 0 4 0 0 0 0
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200 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Template 1: Assets for the calculation of GAR as at 31 December 2025 – Part 2 [PLN million] a o p q r s t u v PLN million 31.12.2024 Total (gross) carrying amount Circular Economy (CE) Pollution (PPC) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which environmentally sustainable (taxonomy - aligned) Of which environmentally sustainable (taxonomy -aligned) Of which Use Proceeds Of which enabling Of which Use Proceeds Of which enabling GAR - Covered assets in both numerator and denominator 1 Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation 100,499 15 0 0 0 0 0 0 0 2 Financial Undertakings 1,111 0 0 0 0 0 0 0 0 3 Credit Institutions 1,110 0 0 0 0 0 0 0 0 4 Loans and Advances 1,110 0 0 0 0 0 0 0 0 5 Debt securities, including UoP 0 0 0 0 0 0 0 0 0 6 Equity Instruments 0 0 0 0 0 0 0 0 0 7 Other financial corporations 0 0 0 0 0 0 0 0 0 8 Of which investment firms 0 0 0 0 0 0 0 0 0 9 Loans and Advances 0 0 0 0 0 0 0 0 0 10 Debt securities, including UoP 0 0 0 0 0 0 0 0 0 11 Equity Instruments 0 0 0 0 0 0 0 0 0 12 of which asset management companies 0 0 0 0 0 0 0 0 0 13 Loans and Advances 0 0 0 0 0 0 0 0 0 14 Debt securities, including UoP 0 0 0 0 0 0 0 0 0 15 Equity Instruments 0 0 0 0 0 0 0 0 0 16 Of which insurance undertakings 0 0 0 0 0 0 0 0 0 17 Loans and Advances 0 0 0 0 0 0 0 0 0 18 Debt securities, including UoP 0 0 0 0 0 0 0 0 0 19 Equity Instruments 0 0 0 0 0 0 0 0 0 20 Non-Financial Undertakings 8,817 15 0 0 0 0 0 0 0 21 Loans and Advances 7,429 15 0 0 0 0 0 0 0 22 Debt securities, including UoP 1,365 0 0 0 0 0 0 0 0 23 Equity Instruments 23 0 0 0 0 0 0 0 0
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201 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 a o p q r s t u v PLN million 31.12.2024 Total (gross) carrying amount Circular Economy (CE) Pollution (PPC) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which environmentally sustainable (taxonomy - aligned) Of which environmentally sustainable (taxonomy -aligned) Of which Use Proceeds Of which enabling Of which Use Proceeds Of which enabling 24 Households 88,912 0 0 0 0 0 0 0 0 25 Of which loans collateralised by residential immovable property 61,236 0 0 0 0 0 0 0 0 26 Of which building renovation loans 0 0 0 0 0 0 0 0 0 27 Of which motor vehicle loans 0 0 0 0 0 0 0 0 0 28 Local governments financing 1,659 0 0 0 0 0 0 0 0 29 Housing Financing 0 0 0 0 0 0 0 0 0 30 Other Local Government Financing 1,659 0 0 0 0 0 0 0 0 31 Collateral obtained by taking possession: residential and commercial immovable properties 0 0 0 0 0 0 0 0 0 32 Assets excluded from the numerator for GAR calculation (covered in the denominator) 136,456 33 Non-Financial Undertakings 87,797 34 SMEs and NFCs (other than SMEs) not subject to NFRD disclosure obligations 86,675 35 Loans and Advances 77,835 36 Of which loans collateralised by commercial immovable property 22,019 37 Of which building renovation loans 0 38 Debt Securities 8,407 39 Equity Instruments 434 40 Non-EU country counterparties not subject to NFRD disclosure obligations 1,122 41 Loans and Advances 741 42 Debt Securities 109 43 Equity Instruments 272 44 Derivatives 448 45 On demand interbank loans 493 46 Cash and Cash-Related Assets 4,461 47 Other categories of assets (e.g. Goodwill, commodities etc.) 43,257 48 Total GAR assets 236,955 15 0 0 0 0 0 0 0
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202 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 a o p q r s t u v PLN million 31.12.2024 Total (gross) carrying amount Circular Economy (CE) Pollution (PPC) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which environmentally sustainable (taxonomy- aligned) Of which environmentally sustainable (taxonomy -aligned) Of which Use Proceeds Of which enabling Of which Use Proceeds Of which enabling 49 Assets not covered for GAR calculation 103,416 50 Central Governments and Supranational Issuers 64,146 51 Central banks exposure 33,632 52 Trading book 5,639 53 Total Assets 340,371 0 0 0 0 0 0 0 0 Off-Balance Sheet Exposures – Undertakings subject to NFRD disclosure obligations 54 Financial Guarantees 31,701 0 0 0 0 0 0 0 0 55 Assets under management 4,114 52 0 0 0 0 0 0 0 56 Of which Debt Securities 2,202 40 0 0 0 0 0 0 0 57 Of which Equity Instruments 1,912 12 0 0 0 0 0 0 0
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203 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Template 1: Assets for the calculation of GAR as at 31 December 2025 – Part 3 [PLN million] a w x z aa ab ac ad ae af PLN million 31.12.2024 Total (gross) carrying amount Biodiversity and Ecosystems (BIO) TOTAL (CCM + CCA + WTR + CE + PPC + BIO) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which environmentally sustainable (taxonomy- aligned) Of which environmentally sustainable (taxonomy -aligned) Of which Use Proceeds Of which enabling Of which Use Proceeds Of which transitional Of which enabling GAR - Covered assets in both numerator and denominator 1 Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation 100,499 1 0 0 0 64,011 2,092 0 2 417 2 Financial Undertakings 1,111 0 0 0 0 157 4 0 2 2 3 Credit Institutions 1,110 0 0 0 0 157 4 0 2 2 4 Loans and Advances 1,110 0 0 0 0 157 4 0 2 2 5 Debt securities, including UoP 0 0 0 0 0 0 0 0 0 0 6 Equity Instruments 0 0 0 0 0 0 0 0 0 0 7 Other financial corporations 0 0 0 0 0 0 0 0 0 0 8 Of which investment firms 0 0 0 0 0 0 0 0 0 0 9 Loans and Advances 0 0 0 0 0 0 0 0 0 0 10 Debt securities, including UoP 0 0 0 0 0 0 0 0 0 0 11 Equity Instruments 0 0 0 0 0 0 0 0 0 0 12 of which asset management companies 0 0 0 0 0 0 0 0 0 0 13 Loans and Advances 0 0 0 0 0 0 0 0 0 0 14 Debt securities, including UoP 0 0 0 0 0 0 0 0 0 0 15 Equity Instruments 0 0 0 0 0 0 0 0 0 0 16 Of which insurance undertakings 0 0 0 0 0 0 0 0 0 0 17 Loans and Advances 0 0 0 0 0 0 0 0 0 0 18 Debt securities, including UoP 0 0 0 0 0 0 0 0 0 0 19 Equity Instruments 0 0 0 0 0 0 0 0 0 0 20 Non-Financial Undertakings 8,817 1 0 0 0 1,534 560 0 0 415 21 Loans and Advances 7,429 0 0 0 0 1,104 338 0 0 236 22 Debt securities, including UoP 1,365 0 0 0 0 416 215 0 0 176 23 Equity Instruments 23 0 0 0 0 15 7 0 0 3
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204 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 a w x z aa ab ac ad ae af PLN million 31.12.2024 Total (gross) carrying amount Biodiversity and Ecosystems (BIO) TOTAL (CCM + CCA + WTR + CE + PPC + BIO) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which environmentally sustainable (taxonomy - aligned) Of which environmentally sustainable (taxonomy -aligned) Of which Use Proceeds Of which enabling Of which Use Proceeds Of which transitional Of which enabling 24 Households 88,912 61,233 1,528 0 0 0 25 Of which loans collateralised by residential immovable property 61,236 61,233 1,528 0 0 0 26 Of which building renovation loans 0 0 0 0 0 0 27 Of which motor vehicle loans 0 0 0 0 0 0 28 Local governments financing 1,659 0 0 0 0 1,087 0 0 0 0 29 Housing Financing 0 0 0 0 0 0 0 0 0 0 30 Other Local Government Financing 1,659 0 0 0 0 1,087 0 0 0 0 31 Collateral obtained by taking possession: residential and commercial immovable properties 0 0 0 0 0 0 0 0 0 0 32 Assets excluded from the numerator for GAR calculation (covered in the denominator) 136,456 33 Non-Financial Undertakings 87,797 34 SMEs and NFCs (other than SMEs) not subject to NFRD disclosure obligations 86,675 35 Loans and Advances 77,835 36 Of which loans collateralised by commercial immovable property 22,019 37 Of which building renovation loans 0 38 Debt Securities 8,407 39 Equity Instruments 434 40 Non-EU country counterparties not subject to NFRD disclosure obligations 1,122 41 Loans and Advances 741 42 Debt Securities 109 43 Equity Instruments 272 44 Derivatives 448 45 On demand interbank loans 493 46 Cash and Cash-Related Assets 4,461 47 Other categories of assets (e.g. Goodwill, commodities etc.) 43,257 48 Total GAR assets 236,955 1 0 0 0 64,011 2,092 0 2 417
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205 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 a w x z aa ab ac ad ae af PLN million 31.12.2024 Total (gross) carrying amount Biodiversity and Ecosystems (BIO) TOTAL (CCM + CCA + WTR + CE + PPC + BIO) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which environmentally sustainable (taxonomy - aligned) Of which environmentally sustainable (taxonomy -aligned) Of which Use Proceeds Of which enabling Of which Use Proceeds Of which transitional Of which enabling 49 Assets not covered for GAR calculation 103,416 50 Central Governments and Supranational Issuers 64,146 51 Central banks exposure 33,632 52 Trading book 5,639 53 Total Assets 340,371 0 0 0 0 64,011 2,092 0 2 417 Off-Balance Sheet Exposures – Undertakings subject to NFRD disclosure obligations 54 Financial Guarantees 31,701 0 0 0 0 49 48 0 0 41 55 Assets under management 4,114 0 0 0 0 682 114 0 40 49 56 Of which Debt Securities 2,202 0 0 0 0 162 2 0 0 0 57 Of which Equity Instruments 1,912 0 0 0 0 520 112 0 40 49
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206 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Template 2: GAR sector information as at 31 December 2025 – Part 1 [PLN million] a b c d e f g h i j k l m n o p Breakdown by sector NACE 4 digits level (code and label) Climate Change Mitigation (CCM) Climate Change Adaptation (CCA) Water and Marine Resources (WMR) Circular Economy (CE) Non-Financial corporates (Subject to NFRD) SMEs and Other NFC not subject to NFRD Non-Financial corporates (Subject to NFRD) SMEs and Other NFC not subject to NFRD Non-Financial corporates (Subject to NFRD) SMEs and Other NFC not subject to NFRD Non-Financial corporates (Subject to NFRD) SMEs and Other NFC not subject to NFRD [Gross] Carrying Amount [Gross] Carrying Amount [Gross] Carrying Amount [Gross] Carrying Amount [Gross] Carrying Amount [Gross] Carrying Amount [Gross] Carrying Amount [Gross] Carrying Amount Mn PLN Of which Environmentally Sustainable (CCM) Mn PLN Of which Environmentally Sustainable (CCM) Mn PLN Of which Environmentally Sustainable (CCA) Mn PLN Of which Environmentally Sustainable (CCA) Mn PLN Of which Environmentally Sustainable (WMR) Mn PLN Of which Environmentally Sustainable (WMR) Mn PLN Of which Environmentally Sustainable (CE) Mn PLN Of which Environmentally Sustainable (CE) 1 C20.15 464 4 464 0 464 0 464 0 2 C22.22 11 0 11 0 11 0 11 8 3 C23.20 11 0 11 0 11 0 11 0 4 C24.42 90 22 90 0 90 0 90 0 5 C25.11 30 0 30 0 30 0 30 0 6 C25.93 43 0 43 0 43 0 43 0 7 C30.20 0 0 0 0 0 0 0 0 8 F41.20 16 0 16 0 16 0 16 0 9 F42.11 1 0 1 0 1 0 1 0 10 F42.12 0 0 0 0 0 0 0 0 11 J62.01 1 0 1 0 1 0 1 0 12 C24.51 11 0 11 0 11 0 11 0 13 D35.30 0 0 0 0 0 0 0 0
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207 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Template 2: GAR sector information as at 31 December 2025 – Part 2 [Mn PLN] q r s t u v w x y z aa ab Breakdown by sector NACE 4 digits level (code and label) Pollution (PPC) Biodiversity and Ecosystems (BIO) TOTAL (CCM + CCA + WTR + CE + PPC + BIO) Non-Financial corporates (Subject to NFRD) SMEs and Other NFC not subject to NFRD Non-Financial corporates (Subject to NFRD) SMEs and Other NFC not subject to NFRD Non-Financial corporates (Subject to NFRD) SMEs and Other NFC not subject to NFRD [Gross] Carrying Amount [Gross] Carrying Amount [Gross] Carrying Amount [Gross] Carrying Amount [Gross] Carrying Amount [Gross] Carrying Amount Mn PLN Of which Environmentally Sustainable (PPC) Mn PLN Of which Environmentally Sustainable (PPC) Mn PLN Of which Environmentally Sustainable (BIO) Mn PLN Of which Environmentally Sustainable (BIO) Mn PLN Of which environmentally sustainable (CCM + CCA + WTR + CE + PPC + BIO) Mn PLN Of which environmentally sustainable (CCM + CCA + WTR + CE + PPC + BIO) 1 C20.15 464 0 464 0 464 4 2 C22.22 11 0 11 0 11 8 3 C23.20 11 0 11 0 11 0 4 C24.42 90 0 90 0 90 22 5 C25.11 30 0 30 0 30 0 6 C25.93 43 0 43 0 43 0 7 C30.20 0 0 0 0 0 0 8 F41.20 16 0 16 0 16 0 9 F42.11 1 0 1 0 1 0 10 F42.12 0 0 0 0 0 0 11 J62.01 1 0 1 0 1 0 12 C24.51 11 0 11 0 11 0 13 D35.30 0 0 0 0 0 0
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208 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Template 3: GAR KPI stock as at 31 December 2025 – Part 1 [%] a b c d e f g h i j k l m % (compared to total covered assets in the denominator) 31.12.2025 Climate Change Mitigation (CCM) Climate Change Adaptation (CCA) Water and Marine Resources (WMR) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Of which Use Proceeds Of which transitional Of which enabling Of which Use Proceeds Of which enabling Of which Use Proceeds Of which enabling GAR - Covered assets in both numerator and denominator 1 Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation 27.03% 1.71% 0.00% 0.00% 0.10% 0.11% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 2 Financial Undertakings 0.04% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 3 Credit Institutions 0.04% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 4 Loans and Advances 0.04% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 5 Debt securities, including UoP 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 6 Equity Instruments 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 7 Other financial corporations 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 8 Of which investment firms 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 9 Loans and Advances 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 10 Debt securities, including UoP 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 11 Equity Instruments 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 12 of which asset management companies 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 13 Loans and Advances 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 14 Debt securities, including UoP 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 15 Equity Instruments 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 16 Of which insurance undertakings 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 17 Loans and Advances 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 18 Debt securities, including UoP 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 19 Equity Instruments 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
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209 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 a b c d e f g h i j k l m % (compared to total covered assets in the denominator) 31.12.2025 Climate Change Mitigation (CCM) Climate Change Adaptation (CCA) Water and Marine Resources (WMR) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Of which Use Proceeds Of which transitional Of which enabling Of which Use Proceeds Of which enabling Of which Use Proceeds Of which enabling 20 Non-Financial Undertakings 0.36% 0.14% 0.00% 0.00% 0.10% 0.11% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 21 Loans and Advances 0.30% 0.10% 0.00% 0.00% 0.06% 0.10% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 22 Debt securities, including UoP 0.06% 0.04% 0.00% 0.00% 0.03% 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 23 Equity Instruments 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 24 Households 26.28% 1.57% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 25 Of which loans collateralised by residential immovable property 26.28% 1.57% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 26 Of which building renovation loans 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 27 Of which motor vehicle loans 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 28 Local governments financing 0.35% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 29 Housing Financing 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 30 Other Local Government Financing 0.35% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 31 Collateral obtained by taking possession: residential and commercial immovable properties 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 32 Total GAR assets 27.03% 1.71% 0.00% 0.00% 0.10% 0.11% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
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210 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Template 3: GAR KPI stock as at 31 December 2025 – Part 2 [%] n o p q r s t u % (compared to total covered assets in the denominator) 31.12.2025 Circular Economy (CE) Pollution (PPC) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy - eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy - eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Of which Use Proceeds Of which enabling Of which Use Proceeds Of which enabling GAR - Covered assets in both numerator and denominator 1 Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 2 Financial Undertakings 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 3 Credit Institutions 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 4 Loans and Advances 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 5 Debt securities, including UoP 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 6 Equity Instruments 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 7 Other financial corporations 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 8 Of which investment firms 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 9 Loans and Advances 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 10 Debt securities, including UoP 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 11 Equity Instruments 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 12 of which asset management companies 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 13 Loans and Advances 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 14 Debt securities, including UoP 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 15 Equity Instruments 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 16 Of which insurance undertakings 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 17 Loans and Advances 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 18 Debt securities, including UoP 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 19 Equity Instruments 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
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211 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 n o p q r s t u % (compared to total covered assets in the denominator) 31.12.2025 Circular Economy (CE) Pollution (PPC) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy- eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy - eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Of which Use Proceeds Of which enabling Of which Use Proceeds Of which enabling 20 Non-Financial Undertakings 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 21 Loans and Advances 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 22 Debt securities, including UoP 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 23 Equity Instruments 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 24 Households 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 25 Of which loans collateralised by residential immovable property 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 26 Of which building renovation loans 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 27 Of which motor vehicle loans 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 28 Local governments financing 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 29 Housing Financing 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 30 Other Local Government Financing 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 31 Collateral obtained by taking possession: residential and commercial immovable properties 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 32 Total GAR assets 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
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212 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Template 3: GAR KPI stock as at 31 December 2025 – Part 3 [%] v w x z aa ab ac ad ae af % (compared to total covered assets in the denominator) 31.12.2025 Biodiversity and Ecosystems (BIO) TOTAL (CCM + CCA + WTR + CE + PPC + BIO) Proportion of total assets covered Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy -eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Of which Use Proceeds Of which enabling Of which Use Proceeds Of which transitional Of which enabling GAR - Covered assets in both numerator and denominator 1 Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation 0.00% 0.00% 0.00% 0.00% 27.15% 1.72% 0.00% 0.00% 0.10% 28.74% 2 Financial Undertakings 0.00% 0.00% 0.00% 0.00% 0.04% 0.00% 0.00% 0.00% 0.00% 0.30% 3 Credit Institutions 0.00% 0.00% 0.00% 0.00% 0.04% 0.00% 0.00% 0.00% 0.00% 0.30% 4 Loans and Advances 0.00% 0.00% 0.00% 0.00% 0.04% 0.00% 0.00% 0.00% 0.00% 0.24% 5 Debt securities, including UoP 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.06% 6 Equity Instruments 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 7 Other financial corporations 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 8 Of which investment firms 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 9 Loans and Advances 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 10 Debt securities, including UoP 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 11 Equity Instruments 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 12 Of which asset management companies 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 13 Loans and Advances 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 14 Debt securities, including UoP 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 15 Equity Instruments 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 16 Of which insurance undertakings 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 17 Loans and Advances 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 18 Debt securities, including UoP 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 19 Equity Instruments 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
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213 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 v w x z aa ab ac ad ae af % (compared to total covered assets in the denominator) 31.12.2025 Biodiversity and Ecosystems (BIO) TOTAL (CCM + CCA + WTR + CE + PPC + BIO) Proportion of total assets covered Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy -eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Of which Use Proceeds Of which enabling Of which Use Proceeds Of which transitional Of which enabling 20 Non-Financial Undertakings 0.00% 0.00% 0.00% 0.00% 0.48% 0.15% 0.00% 0.00% 0.10% 2.34% 21 Loans and Advances 0.00% 0.00% 0.00% 0.00% 0.41% 0.10% 0.00% 0.00% 0.06% 1.78% 22 Debt securities, including UoP 0.00% 0.00% 0.00% 0.00% 0.07% 0.04% 0.00% 0.00% 0.03% 0.55% 23 Equity Instruments 0.00% 0.00% 0.00% 0.01% 0.00% 0.00% 0.00% 0.01% 24 Households 0.00% 0.00% 0.00% 0.00% 26.28% 1.57% 0.00% 0.00% 0.00% 25.66% 25 Of which loans collateralised by residential immovable property 0.00% 0.00% 0.00% 0.00% 26.28% 1.57% 0.00% 0.00% 0.00% 18.65% 26 Of which building renovation loans 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 27 Of which motor vehicle loans 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 28 Local governments financing 0.00% 0.00% 0.00% 0.00% 0.35% 0.00% 0.00% 0.00% 0.00% 0.44% 29 Housing Financing 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 30 Other Local Government Financing 0.00% 0.00% 0.00% 0.00% 0.35% 0.00% 0.00% 0.00% 0.00% 0.44% 31 Collateral obtained by taking possession: residential and commercial immovable properties 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 32 Total GAR assets 0.00% 0.00% 0.00% 0.00% 27.15% 1.72% 0.00% 0.00% 0.10% 70.98%
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214 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Template 3: GAR KPI stock as at 31 December 2024 – Part 1 [%] a b c d e f g h i j k l m % (compared to total covered assets in the denominator) 31.12.2025 Climate Change Mitigation (CCM) Climate Change Adaptation (CCA) Water and Marine Resources (WMR) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Of which Use Proceeds Of which transitional Of which enabling Of which Use Proceeds Of which enabling Of which Use Proceeds Of which enabling GAR - Covered assets in both numerator and denominator 1 Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation 26,98% 0,87% 0,00% 0,00% 0,16% 0,03% 0,02% 0,00% 0,01% 0,00% 0,00% 0,00% 0,00% 2 Financial Undertakings 0,07% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 3 Credit Institutions 0,07% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 4 Loans and Advances 0,07% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 5 Debt securities, including UoP 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 6 Equity Instruments 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 7 Other financial corporations 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 8 Of which investment firms 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 9 Loans and Advances 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 10 Debt securities, including UoP 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 11 Equity Instruments 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 12 of which asset management companies 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 13 Loans and Advances 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 14 Debt securities, including UoP 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 15 Equity Instruments 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 16 Of which insurance undertakings 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 17 Loans and Advances 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 18 Debt securities, including UoP 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 19 Equity Instruments 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
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215 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 a b c d e f g h i j k l m % (compared to total covered assets in the denominator) 31.12.2025 Climate Change Mitigation (CCM) Climate Change Adaptation (CCA) Water and Marine Resources (WMR) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Of which Use Proceeds Of which transitional Of which enabling Of which Use Proceeds Of which enabling Of which Use Proceeds Of which enabling 20 Non-Financial Undertakings 0,62% 0,22% 0,00% 0,00% 0,16% 0,02% 0,02% 0,00% 0,01% 0,00% 0,00% 0,00% 0,00% 21 Loans and Advances 0,45% 0,14% 0,00% 0,00% 0,09% 0,01% 0,01% 0,00% 0,01% 0,00% 0,00% 0,00% 0,00% 22 Debt securities, including UoP 0,16% 0,08% 0,00% 0,00% 0,07% 0,01% 0,01% 0,00% 0,01% 0,00% 0,00% 0,00% 0,00% 23 Equity Instruments 0,01% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 24 Households 25,84% 0,64% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 25 Of which loans collateralised by residential immovable property 25,84% 0,64% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 26 Of which building renovation loans 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 27 Of which motor vehicle loans 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 28 Local governments financing 0,46% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 29 Housing Financing 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 30 Other Local Government Financing 0,46% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 31 Collateral obtained by taking possession: residential and commercial immovable properties 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 32 Total GAR assets 26,98% 0,87% 0,00% 0,00% 0,16% 0,03% 0,02% 0,00% 0,01% 0,00% 0,00% 0,00% 0,00%
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216 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Template 3: GAR KPI stock as at 31 December 2024 – Part 2 [%] n o p q r s t u % (compared to total covered assets in the denominator) 31.12.2025 Circular Economy (CE) Pollution (PPC) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy- eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy - eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Of which Use Proceeds Of which enabling Of which Use Proceeds Of which enabling GAR - Covered assets in both numerator and denominator 1 Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation 0,01% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 2 Financial Undertakings 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 3 Credit Institutions 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 4 Loans and Advances 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 5 Debt securities, including UoP 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 6 Equity Instruments 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 7 Other financial corporations 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 8 Of which investment firms 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 9 Loans and Advances 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 10 Debt securities, including UoP 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 11 Equity Instruments 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 12 of which asset management companies 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 13 Loans and Advances 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 14 Debt securities, including UoP 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 15 Equity Instruments 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 16 Of which insurance undertakings 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 17 Loans and Advances 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 18 Debt securities, including UoP 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 19 Equity Instruments 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
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217 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 n o p q r s t u % (compared to total covered assets in the denominator) 31.12.2025 Circular Economy (CE) Pollution (PPC) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy - eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy- eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Of which Use Proceeds Of which enabling Of which Use Proceeds Of which enabling 20 Non-Financial Undertakings 0,01% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 21 Loans and Advances 0,01% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 22 Debt securities, including UoP 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 23 Equity Instruments 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 24 Households 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 25 Of which loans collateralised by residential immovable property 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 26 Of which building renovation loans 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 27 Of which motor vehicle loans 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 28 Local governments financing 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 29 Housing Financing 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 30 Other Local Government Financing 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 31 Collateral obtained by taking possession: residential and commercial immovable properties 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 32 Total GAR assets 0,01% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
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218 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Template 3: GAR KPI stock as at 31 December 2024 – Part 3 [%] v w x z aa ab ac ad ae af % (compared to total covered assets in the denominator) 31.12.2025 Biodiversity and Ecosystems (BIO) TOTAL (CCM + CCA + WTR + CE + PPC + BIO) Proportion of total assets covered Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy -eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Of which Use Proceeds Of which enabling Of which Use Proceeds Of which transitional Of which enabling GAR - Covered assets in both numerator and denominator 1 Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation 0,00% 0,00% 0,00% 0,00% 27,01% 0,88% 0,00% 0,00% 0,18% 29,53% 2 Financial Undertakings 0,00% 0,00% 0,00% 0,00% 0,07% 0,00% 0,00% 0,00% 0,00% 0,33% 3 Credit Institutions 0,00% 0,00% 0,00% 0,00% 0,07% 0,00% 0,00% 0,00% 0,00% 0,33% 4 Loans and Advances 0,00% 0,00% 0,00% 0,00% 0,07% 0,00% 0,00% 0,00% 0,00% 0,33% 5 Debt securities, including UoP 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 6 Equity Instruments 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 7 Other financial corporations 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 8 Of which investment firms 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 9 Loans and Advances 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 10 Debt securities, including UoP 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 11 Equity Instruments 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 12 Of which asset management companies 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 13 Loans and Advances 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 14 Debt securities, including UoP 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 15 Equity Instruments 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 16 Of which insurance undertakings 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 17 Loans and Advances 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 18 Debt securities, including UoP 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 19 Equity Instruments 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
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219 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 v w x z aa ab ac ad ae af % (compared to total covered assets in the denominator) 31.12.2025 Biodiversity and Ecosystems (BIO) TOTAL (CCM + CCA + WTR + CE + PPC + BIO) Proportion of total assets covered Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy -eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Of which Use Proceeds Of which enabling Of which Use Proceeds Of which transitional Of which enabling 20 Non-Financial Undertakings 0,00% 0,00% 0,00% 0,00% 0,65% 0,24% 0,00% 0,00% 0,18% 2,59% 21 Loans and Advances 0,00% 0,00% 0,00% 0,00% 0,47% 0,14% 0,00% 0,00% 0,10% 2,18% 22 Debt securities, including UoP 0,00% 0,00% 0,00% 0,00% 0,18% 0,09% 0,00% 0,00% 0,07% 0,40% 23 Equity Instruments 0,00% 0,00% 0,00% 0,01% 0,00% 0,00% 0,00% 0,01% 24 Households 0,00% 0,00% 0,00% 0,00% 25,84% 0,64% 0,00% 0,00% 0,00% 26,12% 25 Of which loans collateralised by residential immovable property 0,00% 0,00% 0,00% 0,00% 25,84% 0,64% 0,00% 0,00% 0,00% 17,99% 26 Of which building renovation loans 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 27 Of which motor vehicle loans 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 28 Local governments financing 0,00% 0,00% 0,00% 0,00% 0,46% 0,00% 0,00% 0,00% 0,00% 0,49% 29 Housing Financing 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 30 Other Local Government Financing 0,00% 0,00% 0,00% 0,00% 0,46% 0,00% 0,00% 0,00% 0,00% 0,49% 31 Collateral obtained by taking possession: residential and commercial immovable properties 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 32 Total GAR assets 0,00% 0,00% 0,00% 0,00% 27,01% 0,88% 0,00% 0,00% 0,18% 69,62%
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220 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Template 4: GAR KPI flow for 2025 – Part 1 [%] a b c d e f g h i j k l m % (compared to flow of total eligible assets) 31.12.2025 Climate Change Mitigation (CCM) Climate Change Adaptation (CCA) Water and Marine Resources (WMR) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Of which Use Proceeds Of which transitional Of which enabling Of which Use Proceeds Of which enabling Of which Use Proceeds Of which enabling GAR - Covered assets in both numerator and denominator 1 Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation 11.32% 1.14% 0.00% 0.00% 0.11% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 2 Financial Undertakings 0.07% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 3 Credit Institutions 0.07% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 4 Loans and Advances 0.06% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 5 Debt securities, including UoP 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 6 Equity Instruments 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 7 Other financial corporations 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 8 Of which investment firms 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 9 Loans and Advances 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 10 Debt securities, including UoP 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 11 Equity Instruments 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 12 of which asset management companies 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 13 Loans and Advances 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 14 Debt securities, including UoP 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 15 Equity Instruments 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 16 Of which insurance undertakings 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 17 Loans and Advances 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 18 Debt securities, including UoP 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 19 Equity Instruments 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
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221 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 a b c d e f g h i j k l m % (compared to flow of total eligible assets) 31.12.2025 Climate Change Mitigation (CCM) Climate Change Adaptation (CCA) Water and Marine Resources (WMR) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Of which Use Proceeds Of which transitional Of which enabling Of which Use Proceeds Of which enabling Of which Use Proceeds Of which enabling 20 Non-Financial Undertakings 0.30% 0.14% 0.00% 0.00% 0.11% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 21 Loans and Advances 0.23% 0.11% 0.00% 0.00% 0.09% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 22 Debt securities, including UoP 0.06% 0.02% 0.00% 0.00% 0.02% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 23 Equity Instruments 0.02% 0.01% 0.00% 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 24 Households 9.99% 1.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 25 Of which loans collateralised by residential immovable property 9.85% 1.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 26 Of which building renovation loans 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 27 Of which motor vehicle loans 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 28 Local governments financing 0.95% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 29 Housing Financing 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 30 Other Local Government Financing 0.95% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 31 Collateral obtained by taking possession: residential and commercial immovable properties 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 32 Total GAR assets 11.32% 1.14% 0.00% 0.00% 0.11% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
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222 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Template 4: GAR KPI flow for 2025 – Part 2 [%] n o p q r s t u % (compared to flow of total eligible assets) 31.12.2025 Circular Economy (CE) Pollution (PPC) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy - eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy - eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Of which Use Proceeds Of which enabling Of which Use Proceeds Of which enabling GAR - Covered assets in both numerator and denominator 1 Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation 0.02% 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 2 Financial Undertakings 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 3 Credit Institutions 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 4 Loans and Advances 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 5 Debt securities, including UoP 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 6 Equity Instruments 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 7 Other financial corporations 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 8 Of which investment firms 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 9 Loans and Advances 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 10 Debt securities, including UoP 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 11 Equity Instruments 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 12 of which asset management companies 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 13 Loans and Advances 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 14 Debt securities, including UoP 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 15 Equity Instruments 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 16 Of which insurance undertakings 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 17 Loans and Advances 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 18 Debt securities, including UoP 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 19 Equity Instruments 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
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223 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 n o p q r s t u % (compared to flow of total eligible assets) 31.12.2025 Circular Economy (CE) Pollution (PPC) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy- eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy - eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Of which Use Proceeds Of which enabling Of which Use Proceeds Of which enabling 20 Non-Financial Undertakings 0.02% 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 21 Loans and Advances 0.02% 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 22 Debt securities, including UoP 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 23 Equity Instruments 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 24 Households 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 25 Of which loans collateralised by residential immovable property 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 26 Of which building renovation loans 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 27 Of which motor vehicle loans 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 28 Local governments financing 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 29 Housing Financing 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 30 Other Local Government Financing 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 31 Collateral obtained by taking possession: residential and commercial immovable properties 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 32 Total GAR assets 0.02% 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
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224 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Template 4: GAR KPI flow for 2025 – Part 3 [%] v w x z aa ab ac ad ae af % (compared to flow of total eligible assets) 31.12.2025 Biodiversity and Ecosystems (BIO) TOTAL (CCM + CCA + WTR + CE + PPC + BIO) Proportion of total assets covered Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy -eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Of which Use Proceeds Of which enabling Of which Use Proceeds Of which transitional Of which enabling GAR - Covered assets in both numerator and denominator 1 Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation 0.00% 0.00% 0.00% 0.00% 11.34% 1.15% 0.00% 0.00% 0.11% 23.44% 2 Financial Undertakings 0.00% 0.00% 0.00% 0.00% 0.07% 0.00% 0.00% 0.00% 0.00% 0.54% 3 Credit Institutions 0.00% 0.00% 0.00% 0.00% 0.07% 0.00% 0.00% 0.00% 0.00% 0.54% 4 Loans and Advances 0.00% 0.00% 0.00% 0.00% 0.07% 0.00% 0.00% 0.00% 0.00% 0.36% 5 Debt securities, including UoP 0.00% 0.00% 0.00% 0.00% 0.01% 0.00% 0.00% 0.00% 0.00% 0.18% 6 Equity Instruments 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 7 Other financial corporations 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 8 Of which investment firms 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 9 Loans and Advances 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 10 Debt securities, including UoP 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 11 Equity Instruments 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 12 Of which asset management companies 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 13 Loans and Advances 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 14 Debt securities, including UoP 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 15 Equity Instruments 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 16 Of which insurance undertakings 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 17 Loans and Advances 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 18 Debt securities, including UoP 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 19 Equity Instruments 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
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225 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 v w x z aa ab ac ad ae af % (compared to flow of total eligible assets) 31.12.2025 Biodiversity and Ecosystems (BIO) TOTAL (CCM + CCA + WTR + CE + PPC + BIO) Proportion of total assets covered Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy -eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Of which Use Proceeds Of which enabling Of which Use Proceeds Of which transitional Of which enabling 20 Non-Financial Undertakings 0.00% 0.00% 0.00% 0.00% 0.33% 0.15% 0.00% 0.00% 0.11% 3.27% 21 Loans and Advances 0.00% 0.00% 0.00% 0.00% 0.25% 0.12% 0.00% 0.00% 0.09% 2.21% 22 Debt securities, including UoP 0.00% 0.00% 0.00% 0.00% 0.07% 0.02% 0.00% 0.00% 0.02% 1.04% 23 Equity Instruments 0.00% 0.00% 0.00% 0.02% 0.01% 0.00% 0.01% 0.02% 24 Households 0.00% 0.00% 0.00% 0.00% 9.99% 1.00% 0.00% 0.00% 0.00% 18.28% 25 Of which loans collateralised by residential immovable property 0.00% 0.00% 0.00% 0.00% 9.85% 1.00% 0.00% 0.00% 0.00% 7.81% 26 Of which building renovation loans 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 27 Of which motor vehicle loans 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 28 Local governments financing 0.00% 0.00% 0.00% 0.00% 0.95% 0.00% 0.00% 0.00% 0.00% 1.35% 29 Housing Financing 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 30 Other Local Government Financing 0.00% 0.00% 0.00% 0.00% 0.95% 0.00% 0.00% 0.00% 0.00% 1.35% 31 Collateral obtained by taking possession: residential and commercial immovable properties 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 32 Total GAR assets 0.00% 0.00% 0.00% 0.00% 11.34% 1.15% 0.00% 0.00% 0.11% 79.22%
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226 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Template 5: KPI off-balance-sheet exposures as at 31 December 2025 – Part 1 [%] a b c d e f g h i j k l m % (compared to total eligible off-balance sheet assets) 31.12.2025 Climate Change Mitigation (CCM) Climate Change Adaptation (CCA) Water and Marine Resources (WMR) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy- aligned) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy- aligned) Of which Use Proceeds Of which transitional Of which enabling Of which Use Proceeds Of which enabling Of which Use Proceeds Of which enabling 1 Financial guarantees (FinGuar KPI) 0.24% 0.23% 0.00% 0.00% 0.20% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 2 Assets under management (AuM KPI) 23.20% 5.81% 0.00% 0.92% 3.52% 10.43% 0.11% 0.00% 0.01% 0.01% 0.00% 0.00% 0.00%
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227 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Template 5: KPI off-balance-sheet exposures as at 31 December 2025 – Part 2 [%] n o p q r s t u % (compared to total eligible off-balance sheet assets) 31.12.2025 Circular Economy (CE) Pollution (PPC) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy -eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy -eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Of which Use Proceeds Of which enabling Of which Use Proceeds Of which enabling 1 Financial guarantees (FinGuar KPI) 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 2 Assets under management (AuM KPI) 0.60% 0.00% 0.00% 0.00% 0.12% 0.00% 0.00% 0.00% Template 5: KPI off-balance-sheet exposures as at 31 December 2025 – Part 3 [%] v w x z aa ab ac ad ae % (compared to total eligible off-balance sheet assets) 31.12.2025 Biodiversity and Ecosystems (BIO) TOTAL (CCM + CCA + WMR + CE + PPC + BIO) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy- eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy -eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy - aligned) Of which Use Proceeds Of which enabling Of which Use Proceeds Of which transitional Of which enabling 1 Financial guarantees (FinGuar KPI) 0.00% 0.00% 0.00% 0.00% 0.24% 0.23% 0.00% 0.00% 0.20% 2 Assets under management (AuM KPI) 0.01% 0.00% 0.00% 0.00% 34.37% 5.92% 0.00% 0.92% 3.53%
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228 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Template 5: KPI off-balance-sheet exposures in relation to flow for 2025 – Part 1 [%] a b c d e f g h i j k l m % (compared to total eligible off-balance sheet assets) 31.12.2025 Climate Change Mitigation (CCM) Climate Change Adaptation (CCA) Water and Marine Resources (WMR) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Of which Use Proceeds Of which transitional Of which enabling Of which Use Proceeds Of which enabling Of which Use Proceeds Of which enabling 1 Financial guarantees (FinGuar KPI) 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 2 Assets under management (AuM KPI)) 17.67% 1.76% 0.00% 0.14% 1.09% 11.86% 4.55% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
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229 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Template 5: KPI off-balance-sheet exposures in relation to flow for 2025 – Part 2 [%] n o p q r s t u % (compared to total eligible off-balance sheet assets) 31.12.2025 Circular Economy (CE) Pollution (PPC) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy -eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Of which Use Proceeds Of which enabling Of which Use Proceeds Of which enabling 1 Financial guarantees (FinGuar KPI) 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 2 Assets under management (AuM KPI) 1.21% 0.00% 0.00% 0.00% 0.05% 0.00% 0.00% 0.00% Template 5: KPI off-balance-sheet exposures in relation to flow for 2025 – Part 3 [%] v w x z aa ab ac ad ae % (compared to total eligible off-balance sheet assets) 31.12.2025 Biodiversity and Ecosystems (BIO) TOTAL (CCM + CCA + WMR + CE + PPC + BIO) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy - eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy - aligned) Of which Use Proceeds Of which enabling Of which Use Proceeds Of which transitional Of which enabling 1 Financial guarantees (FinGuar KPI) 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 2 Assets under management (AuM KPI) 0.00% 0.00% 0.00% 0.00% 30.79% 6.32% 0.00% 0.14% 1.10%
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230 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Disclosures based on the counterparty key performance indicator in relation to turnover (KPI Capex) Template 0: Summary of KPIsto be disclosed by credit institutions under Article 8 Taxonomy Regulation [Mn PLN] as at 31.12.2025 Total environmentally sustainable assets36 Key Performance Indicator KPI - Turnover Key Performance Indicator KPI – Capex % coverage (over total assets) % of assets excluded from the numerator of the GAR (Article 7(2) and (3) and section 1.1.2 of Annex v) % of assets excluded from the denominator of the GAR(Article 7(1) and Section 1.2.4 of Annex v) Main KPI Green Asset Ratio GAR stock 4,858 1.72% 1.91% 70.98% 42.24% 29.02% Total environmentally sustainable activities Key Performance Indicator KPI - Turnover Key Performance Indicator KPI – Capex % coverage (over total assets) % of assets excluded from the numerator of the GAR (Article 7(2) and (3) and Section 1.1.2 of Annex V) % of assets excluded from the denominator of the GAR (Article 7(1) and Section 1.2.4 of Annex V) Additional KPIs Green Asset Ratio (flow) 1234 1.15% 1.33% 79.22% 55.78% 20.78% Financial Guarantees 210 0.23% 0.59% Assets under management 645 5.92% 10.08% 36 Environmentally sustainable assets in relation to KPI Turnover.
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231 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Disclosures based on the counterparty key performance indicator in relation to turnover (KPI Capex) Template 0: Summary of KPIsto be disclosed by credit institutions under Article 8 Taxonomy Regulation [Mn PLN] as at 31.12.2024 Total environmentally sustainable assets37 Key Performance Indicator KPI - Turnover Key Performance Indicator KPI – Capex % coverage (over total assets) % of assets excluded from the numerator of the GAR (Article 7(2) and (3) and section 1.1.2 of Annex v) % of assets excluded from the denominator of the GAR(Article 7(1) and Section 1.2.4 of Annex v) Main KPI Green Asset Ratio GAR stock 3 173 0,88% 1,34% 69,62% 40,09% 30,38% Total environmentally sustainable activities Key Performance Indicator KPI - Turnover Key Performance Indicator KPI – Capex % coverage (over total assets) % of assets excluded from the numerator of the GAR (Article 7(2) and (3) and Section 1.1.2 of Annex V) % of assets excluded from the denominator of the GAR (Article 7(1) and Section 1.2.4 of Annex V) Additional KPIs Green Asset Ratio (flow) 1 250 0,74% 1,51% 83,02% 55,54% 16,98% Financial Guarantees 239 0,15% 0,75% Assets under management 648 2,77% 15,97% 37 Environmentally sustainable assets in relation to KPI Turnover.
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232 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Template 1: Assets for the calculation of GAR as at 31 December 2025 – Part 1 [Mn PLN] a b c d e f g h i j k l m n Mn PLN 31.12.2025 Total (gross) carrying amount Climate Change Mitigation (CCM) Climate Change Adaptation (CCA) Water and Marine Resources (WMR) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which environmentally sustainable (taxonomy -aligned) Of which environmentally sustainable (taxonomy-aligned) Of which environmentally sustainable (taxonomy-aligned) Of which Use Proceeds Of which transitional Of which enabling Of which Use Proceeds Of which enabling Of which Use Proceeds Of which enabling GAR - Covered assets in both numerator and denominator 1 Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation 103,113 70,594 4,850 1 16 445 270 8 0 0 3 0 0 0 2 Financial Undertakings 1,075 106 7 1 1 2 1 0 0 0 0 0 0 0 3 Credit Institutions 1,074 106 7 1 1 2 1 0 0 0 0 0 0 0 4 Loans and Advances 858 101 7 1 1 2 1 0 0 0 0 0 0 0 5 Debt securities, including UoP 216 5 0 0 0 0 0 0 0 0 0 0 0 0 6 Equity Instruments 0 0 0 0 0 0 0 0 0 0 0 7 Other financial corporations 1 0 0 0 0 0 0 0 0 0 0 0 0 0 8 Of which investment firms 0 0 0 0 0 0 0 0 0 0 0 0 0 0 9 Loans and Advances 0 0 0 0 0 0 0 0 0 0 0 0 0 0 10 Debt securities, including UoP 0 0 0 0 0 0 0 0 0 0 0 0 0 0 11 Equity Instruments 0 0 0 0 0 0 0 0 0 0 0 12 of which asset management companies 0 0 0 0 0 0 0 0 0 0 0 0 0 0 13 Loans and Advances 0 0 0 0 0 0 0 0 0 0 0 0 0 0 14 Debt securities, including UoP 0 0 0 0 0 0 0 0 0 0 0 0 0 0 15 Equity Instruments 0 0 0 0 0 0 0 0 0 0 0 16 Of which insurance undertakings 1 0 0 0 0 0 0 0 0 0 0 0 0 0 17 Loans and Advances 1 0 0 0 0 0 0 0 0 0 0 0 0 0 18 Debt securities, including UoP 0 0 0 0 0 0 0 0 0 0 0 0 0 0 19 Equity Instruments 0 0 0 0 0 0 0 0 0 0 0 20 Non-Financial Undertakings 8,382 2,684 850 0 15 443 269 8 0 0 3 0 0 0 21 Loans and Advances 6,391 2,030 410 0 13 127 259 2 0 0 2 0 0 0 22 Debt securities, including UoP 1,969 636 425 0 2 303 8 5 0 0 1 0 0 0 23 Equity Instruments 23 17 15 0 13 2 1 0 0 0 0
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233 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 a b c d e f g h i j k l m n Mn PLN 31.12.2025 Total (gross) carrying amount Climate Change Mitigation (CCM) Climate Change Adaptation (CCA) Water and Marine Resources (WMR) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which environmentally sustainable (taxonomy - aligned) Of which environmentally sustainable (taxonomy-aligned) Of which environmentally sustainable (taxonomy-aligned) Of which Use Proceeds Of which transitional Of which enabling Of which Use Proceeds Of which enabling Of which Use Proceeds Of which enabling 24 Households 92,070 66,916 3,993 0 0 0 0 0 0 0 25 Of which loans collateralised by residential immovable property 66,919 66,916 3,993 0 0 0 0 0 0 0 26 Of which building renovation loans 0 0 0 0 0 0 0 0 0 0 27 Of which motor vehicle loans 0 0 0 0 0 0 28 Local governments financing 1,585 888 0 0 0 0 0 0 0 0 0 0 0 0 29 Housing Financing 0 0 0 0 0 0 0 0 0 0 0 0 0 0 30 Other Local Government Financing 1,585 888 0 0 0 0 0 0 0 0 0 0 0 0 31 Collateral obtained by taking possession: residential and commercial immovable properties 0 0 0 0 0 0 0 0 0 0 0 0 0 0 32 Assets excluded from the numerator for GAR calculation (covered in the denominator) 151,546 33 Non-Financial Undertakings 100,056 34 SMEs and NFCs (other than SMEs) not subject to NFRD disclosure obligations 98,696 35 Loans and Advances 89,713 36 Of which loans collateralised by commercial immovable property 28,075 37 Of which building renovation loans 0 38 Debt Securities 8,215 39 Equity Instruments 768 40 Non-EU country counterparties not subject to NFRD disclosure obligations 1,360 41 Loans and Advances 1,040 42 Debt Securities 51 43 Equity Instruments 269 44 Derivatives 1,233 45 On demand interbank loans 403 46 Cash and Cash-Related Assets 4,581 47 Other categories of assets (e.g. Goodwill, commodities etc.) 45,274 48 Total GAR assets 254,659 70,594 4,850 1 16 445 270 8 0 0 3 0 0 0
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234 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 a b c d e f g h i j k l m n Mn PLN 31.12.2025 Total (gross) carrying amount Climate Change Mitigation (CCM) Climate Change Adaptation (CCA) Water and Marine Resources (WMR) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which environmentally sustainable (taxonomy -aligned) Of which environmentally sustainable (taxonomy-aligned) Of which environmentally sustainable (taxonomy-aligned) Of which Use Proceeds Of which transitional Of which enabling Of which Use Proceeds Of which enabling Of which Use Proceeds Of which enabling 49 Assets not covered for GAR calculation 104,110 50 Central Governments and Supranational Issuers 78,222 51 Central banks exposure 18,432 52 Trading book 7,455 53 Total Assets 358,769 70,594 4,850 1 16 445 270 8 0 0 3 0 0 0 Off-Balance Sheet Exposures – Undertakings subject to NFRD disclosure obligations 54 Financial Guarantees 35,402 212 210 0 0 141 0 0 0 0 0 0 0 0 55 Assets under management 6,399 2,194 638 0 47 465 1,316 7 0 0 0 0 0 42 56 Of which Debt Securities 3,807 1,382 447 0 38 335 736 2 0 0 0 0 0 2 57 Of which Equity Instruments 2,591 812 191 0 10 130 580 5 0 0 0 0 0 41
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235 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Template 1: Assets for the calculation of GAR as at 31 December 2025 – Part 2 [Mn PLN] a o p q r s t u v Mn PLN 31.12.2025 Total (gross) carrying amount Circular Economy (CE) Pollution (PPC) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which environmentally sustainable (taxonomy - aligned) Of which environmentally sustainable (taxonomy -aligned) Of which Use Proceeds Of which enabling Of which Use Proceeds Of which enabling GAR - Covered assets in both numerator and denominator 1 Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation 103,113 56 1 0 0 1 0 0 0 2 Financial Undertakings 1,075 0 0 0 0 0 0 0 0 3 Credit Institutions 1,074 0 0 0 0 0 0 0 0 4 Loans and Advances 858 0 0 0 0 0 0 0 0 5 Debt securities, including UoP 216 0 0 0 0 0 0 0 0 6 Equity Instruments 0 0 0 0 0 0 0 7 Other financial corporations 1 0 0 0 0 0 0 0 0 8 Of which investment firms 0 0 0 0 0 0 0 0 0 9 Loans and Advances 0 0 0 0 0 0 0 0 0 10 Debt securities, including UoP 0 0 0 0 0 0 0 0 0 11 Equity Instruments 0 0 0 0 0 0 0 12 of which asset management companies 0 0 0 0 0 0 0 0 0 13 Loans and Advances 0 0 0 0 0 0 0 0 0 14 Debt securities, including UoP 0 0 0 0 0 0 0 0 0 15 Equity Instruments 0 0 0 0 0 0 0 16 Of which insurance undertakings 1 0 0 0 0 0 0 0 0 17 Loans and Advances 1 0 0 0 0 0 0 0 0 18 Debt securities, including UoP 0 0 0 0 0 0 0 0 0 19 Equity Instruments 0 0 0 0 0 0 0 20 Non-Financial Undertakings 8,382 55 1 0 0 1 0 0 0 21 Loans and Advances 6,391 48 1 0 0 1 0 0 0 22 Debt securities, including UoP 1,969 7 0 0 0 0 0 0 0 23 Equity Instruments 23 0 0 0 0 0 0
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236 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 a o p q r s t u v Mn PLN 31.12.2025 Total (gross) carrying amount Circular Economy (CE) Pollution (PPC) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which environmentally sustainable (taxonomy - aligned) Of which environmentally sustainable (taxonomy -aligned) Of which Use Proceeds Of which enabling Of which Use Proceeds Of which enabling 24 Households 92,070 0 0 0 0 25 Of which loans collateralised by residential immovable property 66,919 0 0 0 0 26 Of which building renovation loans 0 0 0 0 0 27 Of which motor vehicle loans 0 28 Local governments financing 1,585 0 0 0 0 0 0 0 0 29 Housing Financing 0 0 0 0 0 0 0 0 0 30 Other Local Government Financing 1,585 0 0 0 0 0 0 0 0 31 Collateral obtained by taking possession: residential and commercial immovable properties 0 0 0 0 0 0 0 0 0 32 Assets excluded from the numerator for GAR calculation (covered in the denominator) 151,546 33 Non-Financial Undertakings 100,056 34 SMEs and NFCs (other than SMEs) not subject to NFRD disclosure obligations 98,696 35 Loans and Advances 89,713 36 Of which loans collateralised by commercial immovable property 28,075 37 Of which building renovation loans 0 38 Debt Securities 8,215 39 Equity Instruments 768 40 Non-EU country counterparties not subject to NFRD disclosure obligations 1,360 41 Loans and Advances 1,040 42 Debt Securities 51 43 Equity Instruments 269 44 Derivatives 1,233 45 On demand interbank loans 403 46 Cash and Cash-Related Assets 4,581 47 Other categories of assets (e.g. Goodwill, commodities etc.) 45,274 48 Total GAR assets 254,659 56 1 0 0 1 0 0 0
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237 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 a o p q r s t u v Mn PLN 31.12.2025 Total (gross) carrying amount Circular Economy (CE) Pollution (PPC) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which environmentally sustainable (taxonomy- aligned) Of which environmentally sustainable (taxonomy -aligned) Of which Use Proceeds Of which enabling Of which Use Proceeds Of which enabling 49 Assets not covered for GAR calculation 104,110 50 Central Governments and Supranational Issuers 78,222 51 Central banks exposure 18,432 52 Trading book 7,455 53 Total Assets 358,769 56 1 0 0 1 0 0 0 Off-Balance Sheet Exposures – Undertakings subject to NFRD disclosure obligations 54 Financial Guarantees 35,402 0 0 0 0 0 0 0 0 55 Assets under management 6,399 1 0 0 2 0 0 0 0 56 Of which Debt Securities 3,807 0 0 0 0 0 0 0 0 57 Of which Equity Instruments 2,591 1 0 0 2 0 0 0 0
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238 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Template 1: Assets for the calculation of GAR as at 31 December 2025 – Part 3 [Mn PLN] a w x z aa ab ac ad ae af Mn PLN 31.12.2025 Total (gross) carrying amount Biodiversity and Ecosystems (BIO) TOTAL (CCM + CCA + WTR + CE + PPC + BIO) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which environmentally sustainable (taxonomy - aligned) Of which environmentally sustainable (taxonomy-aligned) Of which Use Proceeds Of which enabling Of which Use Proceeds Of which transitional Of which enabling GAR - Covered assets in both numerator and denominator 1 Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation 103,113 0 0 0 0 70,924 4,858 1 23 445 2 Financial Undertakings 1,075 0 0 0 0 108 7 1 1 2 3 Credit Institutions 1,074 0 0 0 0 108 7 1 1 2 4 Loans and Advances 858 0 0 0 0 103 7 1 1 2 5 Debt securities, including UoP 216 0 0 0 0 5 0 0 0 0 6 Equity Instruments 0 0 0 0 0 0 0 0 7 Other financial corporations 1 0 0 0 0 0 0 0 0 0 8 Of which investment firms 0 0 0 0 0 0 0 0 0 0 9 Loans and Advances 0 0 0 0 0 0 0 0 0 0 10 Debt securities, including UoP 0 0 0 0 0 0 0 0 0 0 11 Equity Instruments 0 0 0 0 0 0 0 0 12 of which asset management companies 0 0 0 0 0 0 0 0 0 0 13 Loans and Advances 0 0 0 0 0 0 0 0 0 0 14 Debt securities, including UoP 0 0 0 0 0 0 0 0 0 0 15 Equity Instruments 0 0 0 0 0 0 0 0 16 Of which insurance undertakings 1 0 0 0 0 0 0 0 0 0 17 Loans and Advances 1 0 0 0 0 0 0 0 0 0 18 Debt securities, including UoP 0 0 0 0 0 0 0 0 0 0 19 Equity Instruments 0 0 0 0 0 0 0 0 20 Non-Financial Undertakings 8,382 0 0 0 0 3,012 858 0 22 443 21 Loans and Advances 6,391 0 0 0 0 2,340 413 0 15 128 22 Debt securities, including UoP 1,969 0 0 0 0 652 430 0 6 303 23 Equity Instruments 23 0 0 0 19 15 1 13
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239 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 a w x z aa ab ac ad ae af Mn PLN 31.12.2025 Total (gross) carrying amount Biodiversity and Ecosystems (BIO) TOTAL (CCM + CCA + WTR + CE + PPC + BIO) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which environmentally sustainable (taxonomy - aligned) Of which environmentally sustainable (taxonomy -aligned) Of which Use Proceeds Of which enabling Of which Use Proceeds Of which transitional Of which enabling 24 Households 92,070 66,916 3,993 0 0 0 25 Of which loans collateralised by residential immovable property 66,919 66,916 3,993 0 0 0 26 Of which building renovation loans 0 0 0 0 0 0 27 Of which motor vehicle loans 0 0 0 0 0 0 28 Local governments financing 1,585 0 0 0 0 888 0 0 0 0 29 Housing Financing 0 0 0 0 0 0 0 0 0 0 30 Other Local Government Financing 1,585 0 0 0 0 888 0 0 0 0 31 Collateral obtained by taking possession: residential and commercial immovable properties 0 0 0 0 0 0 0 0 0 0 32 Assets excluded from the numerator for GAR calculation (covered in the denominator) 151,546 33 Non-Financial Undertakings 100,056 34 SMEs and NFCs (other than SMEs) not subject to NFRD disclosure obligations 98,696 35 Loans and Advances 89,713 36 Of which loans collateralised by commercial immovable property 28,075 37 Of which building renovation loans 0 38 Debt Securities 8,215 39 Equity Instruments 768 40 Non-EU country counterparties not subject to NFRD disclosure obligations 1,360 41 Loans and Advances 1,040 42 Debt Securities 51 43 Equity Instruments 269 44 Derivatives 1,233 45 On demand interbank loans 403 46 Cash and Cash-Related Assets 4,581 47 Other categories of assets (e.g. Goodwill, commodities etc.) 45,274 48 Total GAR assets 254,659 0 0 0 0 70,924 4,858 1 23 445
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240 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 a w x z aa ab ac ad ae af Mn PLN 31.12.2025 Total (gross) carrying amount Biodiversity and Ecosystems (BIO) TOTAL (CCM + CCA + WTR + CE + PPC + BIO) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which environmentally sustainable (taxonomy - aligned) Of which environmentally sustainable (taxonomy -aligned) Of which Use Proceeds Of which enabling Of which Use Proceeds Of which transitional Of which enabling 49 Assets not covered for GAR calculation 104,110 50 Central Governments and Supranational Issuers 78,222 51 Central banks exposure 18,432 52 Trading book 7,455 53 Total Assets 358,769 0 0 0 0 70,924 4,858 1 23 445 Off-Balance Sheet Exposures – Undertakings subject to NFRD disclosure obligations 54 Financial Guarantees 35,402 0 0 0 0 212 210 0 0 141 55 Assets under management 6,399 0 0 0 3,555 645 0 47 465 4,065 56 Of which Debt Securities 3,807 0 0 0 2,120 449 0 38 335 2,457 57 Of which Equity Instruments 2,591 0 0 0 1,435 197 0 10 130 1,608
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241 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Template 1: Assets for the calculation of GAR as at 31 December 2025 – Part 1 [Mn PLN] a b c d e f g h i j k l m n Mn PLN 31.12.2024 Total (gross) carrying amount Climate Change Mitigation (CCM) Climate Change Adaptation (CCA) Water and Marine Resources (WMR) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which environmentally sustainable (taxonomy -aligned) Of which environmentally sustainable (taxonomy-aligned) Of which environmentally sustainable (taxonomy-aligned) Of which Use Proceeds Of which transitional Of which enabling Of which Use Proceeds Of which enabling Of which Use Proceeds Of which enabling GAR - Covered assets in both numerator and denominator 1 Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation 100,499 65,778 3,147 0 76 1,116 109 26 0 4 2 0 0 0 2 Financial Undertakings 1,111 157 8 0 4 2 0 0 0 0 0 0 0 0 3 Credit Institutions 1,110 157 8 0 4 2 0 0 0 0 0 0 0 0 4 Loans and Advances 1,110 157 8 0 4 2 0 0 0 0 0 0 0 0 5 Debt securities, including UoP 0 0 0 0 0 0 0 0 0 0 0 0 0 0 6 Equity Instruments 0 0 0 0 0 0 0 0 0 0 0 0 0 0 7 Other financial corporations 0 0 0 0 0 0 0 0 0 0 0 0 0 0 8 Of which investment firms 0 0 0 0 0 0 0 0 0 0 0 0 0 0 9 Loans and Advances 0 0 0 0 0 0 0 0 0 0 0 0 0 0 10 Debt securities, including UoP 0 0 0 0 0 0 0 0 0 0 0 0 0 0 11 Equity Instruments 0 0 0 0 0 0 0 0 0 0 0 0 0 0 12 of which asset management companies 0 0 0 0 0 0 0 0 0 0 0 0 0 0 13 Loans and Advances 0 0 0 0 0 0 0 0 0 0 0 0 0 0 14 Debt securities, including UoP 0 0 0 0 0 0 0 0 0 0 0 0 0 0 15 Equity Instruments 0 0 0 0 0 0 0 0 0 0 0 0 0 0 16 Of which insurance undertakings 0 0 0 0 0 0 0 0 0 0 0 0 0 0 17 Loans and Advances 0 0 0 0 0 0 0 0 0 0 0 0 0 0 18 Debt securities, including UoP 0 0 0 0 0 0 0 0 0 0 0 0 0 0 19 Equity Instruments 0 0 0 0 0 0 0 0 0 0 0 0 0 0 20 Non-Financial Undertakings 8,817 3,300 1,610 0 73 1,113 109 26 0 3 2 0 0 0 21 Loans and Advances 7,429 2,429 1,159 0 70 741 90 9 0 2 2 0 0 0 22 Debt securities, including UoP 1,365 861 442 0 3 367 17 16 0 2 0 0 0 0 23 Equity Instruments 23 10 9 0 0 5 2 1 0 0 0 0 0 0
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242 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 a b c d e f g h i j k l m n Mn PLN 31.12.2024 Total (gross) carrying amount Climate Change Mitigation (CCM) Climate Change Adaptation (CCA) Water and Marine Resources (WMR) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which environmentally sustainable (taxonomy - aligned) Of which environmentally sustainable (taxonomy-aligned) Of which environmentally sustainable (taxonomy-aligned) Of which Use Proceeds Of which transitional Of which enabling Of which Use Proceeds Of which enabling Of which Use Proceeds Of which enabling 24 Households 88,912 61,233 1,528 0 0 0 0 0 0 0 0 0 0 0 25 Of which loans collateralised by residential immovable property 61,236 61,233 1,528 0 0 0 0 0 0 0 0 0 0 0 26 Of which building renovation loans 0 0 0 0 0 0 0 0 0 0 0 0 0 0 27 Of which motor vehicle loans 0 0 0 0 0 0 0 0 0 0 0 0 0 0 28 Local governments financing 1,659 1,087 0 0 0 0 0 0 0 0 0 0 0 0 29 Housing Financing 0 0 0 0 0 0 0 0 0 0 0 0 0 0 30 Other Local Government Financing 1,659 1,087 0 0 0 0 0 0 0 0 0 0 0 0 31 Collateral obtained by taking possession: residential and commercial immovable properties 0 0 0 0 0 0 0 0 0 0 0 0 0 0 32 Assets excluded from the numerator for GAR calculation (covered in the denominator) 136,456 33 Non-Financial Undertakings 87,797 34 SMEs and NFCs (other than SMEs) not subject to NFRD disclosure obligations 86,675 35 Loans and Advances 77,835 36 Of which loans collateralised by commercial immovable property 22,019 37 Of which building renovation loans 0 38 Debt Securities 8,407 39 Equity Instruments 434 40 Non-EU country counterparties not subject to NFRD disclosure obligations 1,122 41 Loans and Advances 741 42 Debt Securities 109 43 Equity Instruments 272 44 Derivatives 448 45 On demand interbank loans 493 46 Cash and Cash-Related Assets 4,461 47 Other categories of assets (e.g. Goodwill, commodities etc.) 43,257 48 Total GAR assets 236,955 65,778 3,147 0 76 1,116 109 26 0 4 2 0 0 0
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243 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 a b c d e f g h i j k l m n Mn PLN 31.12.2024 Total (gross) carrying amount Climate Change Mitigation (CCM) Climate Change Adaptation (CCA) Water and Marine Resources (WMR) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which environmentally sustainable (taxonomy -aligned) Of which environmentally sustainable (taxonomy-aligned) Of which environmentally sustainable (taxonomy-aligned) Of which Use Proceeds Of which transitional Of which enabling Of which Use Proceeds Of which enabling Of which Use Proceeds Of which enabling 49 Assets not covered for GAR calculation 103,416 50 Central Governments and Supranational Issuers 64,146 51 Central banks exposure 33,632 52 Trading book 5,639 53 Total Assets 340,371 65,778 3,147 0 76 1,116 109 26 0 4 2 0 0 0 Off-Balance Sheet Exposures – Undertakings subject to NFRD disclosure obligations 54 Financial Guarantees 31,701 242 239 0 0 194 0 0 0 0 0 0 0 0 55 Assets under management 4,060 1,529 582 0 97 377 807 66 0 3 3 0 0 0 56 Of which Debt Securities 1,424 999 397 0 64 276 452 1 0 0 3 0 0 0 57 Of which Equity Instruments 2,636 530 185 0 33 101 355 65 0 3 0 0 0 0
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244 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Template 1: Assets for the calculation of GAR as at 31 December 2025 – Part 2 [Mn PLN] a o p q r s t u v Mn PLN 31.12.2024 Total (gross) carrying amount Circular Economy (CE) Pollution (PPC) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which environmentally sustainable (taxonomy - aligned) Of which environmentally sustainable (taxonomy -aligned) Of which Use Proceeds Of which enabling Of which Use Proceeds Of which enabling GAR - Covered assets in both numerator and denominator 1 Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation 100,499 18 0 0 0 1 0 0 0 2 Financial Undertakings 1,111 0 0 0 0 0 0 0 0 3 Credit Institutions 1,110 0 0 0 0 0 0 0 0 4 Loans and Advances 1,110 0 0 0 0 0 0 0 0 5 Debt securities, including UoP 0 0 0 0 0 0 0 0 0 6 Equity Instruments 0 0 0 0 0 0 0 0 0 7 Other financial corporations 0 0 0 0 0 0 0 0 0 8 Of which investment firms 0 0 0 0 0 0 0 0 0 9 Loans and Advances 0 0 0 0 0 0 0 0 0 10 Debt securities, including UoP 0 0 0 0 0 0 0 0 0 11 Equity Instruments 0 0 0 0 0 0 0 0 0 12 of which asset management companies 0 0 0 0 0 0 0 0 0 13 Loans and Advances 0 0 0 0 0 0 0 0 0 14 Debt securities, including UoP 0 0 0 0 0 0 0 0 0 15 Equity Instruments 0 0 0 0 0 0 0 0 0 16 Of which insurance undertakings 0 0 0 0 0 0 0 0 0 17 Loans and Advances 0 0 0 0 0 0 0 0 0 18 Debt securities, including UoP 0 0 0 0 0 0 0 0 0 19 Equity Instruments 0 0 0 0 0 0 0 0 0 20 Non-Financial Undertakings 8,817 18 0 0 0 1 0 0 0 21 Loans and Advances 7,429 17 0 0 0 1 0 0 0 22 Debt securities, including UoP 1,365 0 0 0 0 0 0 0 0 23 Equity Instruments 23 0 0 0 0 0 0 0 0
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245 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 a o p q r s t u v Mn PLN 31.12.2024 Total (gross) carrying amount Circular Economy (CE) Pollution (PPC) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which environmentally sustainable (taxonomy - aligned) Of which environmentally sustainable (taxonomy -aligned) Of which Use Proceeds Of which enabling Of which Use Proceeds Of which enabling 24 Households 88,912 0 0 0 0 0 0 0 0 25 Of which loans collateralised by residential immovable property 61,236 0 0 0 0 0 0 0 0 26 Of which building renovation loans 0 0 0 0 0 0 0 0 0 27 Of which motor vehicle loans 0 0 0 0 0 0 0 0 0 28 Local governments financing 1,659 0 0 0 0 0 0 0 0 29 Housing Financing 0 0 0 0 0 0 0 0 0 30 Other Local Government Financing 1,659 0 0 0 0 0 0 0 0 31 Collateral obtained by taking possession: residential and commercial immovable properties 0 0 0 0 0 0 0 0 0 32 Assets excluded from the numerator for GAR calculation (covered in the denominator) 136,456 33 Non-Financial Undertakings 87,797 34 SMEs and NFCs (other than SMEs) not subject to NFRD disclosure obligations 86,675 35 Loans and Advances 77,835 36 Of which loans collateralised by commercial immovable property 22,019 37 Of which building renovation loans 0 38 Debt Securities 8,407 39 Equity Instruments 434 40 Non-EU country counterparties not subject to NFRD disclosure obligations 1,122 41 Loans and Advances 741 42 Debt Securities 109 43 Equity Instruments 272 44 Derivatives 448 45 On demand interbank loans 493 46 Cash and Cash-Related Assets 4,461 47 Other categories of assets (e.g. Goodwill, commodities etc.) 43,257 48 Total GAR assets 236,955 18 0 0 0 1 0 0 0
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246 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 a o p q r s t u v Mn PLN 31.12.2024 Total (gross) carrying amount Circular Economy (CE) Pollution (PPC) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which environmentally sustainable (taxonomy- aligned) Of which environmentally sustainable (taxonomy -aligned) Of which Use Proceeds Of which enabling Of which Use Proceeds Of which enabling 49 Assets not covered for GAR calculation 103,416 50 Central Governments and Supranational Issuers 64,146 51 Central banks exposure 33,632 52 Trading book 5,639 53 Total Assets 340,371 18 0 0 0 1 0 0 0 Off-Balance Sheet Exposures – Undertakings subject to NFRD disclosure obligations 54 Financial Guarantees 31,701 0 0 0 0 0 0 0 0 55 Assets under management 4,060 84 0 0 0 0 0 0 0 56 Of which Debt Securities 1,424 26 0 0 0 0 0 0 0 57 Of which Equity Instruments 2,636 58 0 0 0 0 0 0 0
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247 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Template 1: Assets for the calculation of GAR as at 31 December 2025 – Part 3 [Mn PLN] a w x z aa ab ac ad ae af Mn PLN 31.12.2024 Total (gross) carrying amount Biodiversity and Ecosystems (BIO) TOTAL (CCM + CCA + WTR + CE + PPC + BIO) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which environmentally sustainable (taxonomy - aligned) Of which environmentally sustainable (taxonomy-aligned) Of which Use Proceeds Of which enabling Of which Use Proceeds Of which transitional Of which enabling GAR - Covered assets in both numerator and denominator 1 Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation 100,499 1 0 0 0 65,907 3,173 0 76 1,120 2 Financial Undertakings 1,111 0 0 0 0 158 8 0 4 3 3 Credit Institutions 1,110 0 0 0 0 158 8 0 4 3 4 Loans and Advances 1,110 0 0 0 0 158 8 0 4 3 5 Debt securities, including UoP 0 0 0 0 0 0 0 0 0 0 6 Equity Instruments 0 0 0 0 0 0 0 0 0 0 7 Other financial corporations 0 0 0 0 0 0 0 0 0 0 8 Of which investment firms 0 0 0 0 0 0 0 0 0 0 9 Loans and Advances 0 0 0 0 0 0 0 0 0 0 10 Debt securities, including UoP 0 0 0 0 0 0 0 0 0 0 11 Equity Instruments 0 0 0 0 0 0 0 0 0 0 12 of which asset management companies 0 0 0 0 0 0 0 0 0 0 13 Loans and Advances 0 0 0 0 0 0 0 0 0 0 14 Debt securities, including UoP 0 0 0 0 0 0 0 0 0 0 15 Equity Instruments 0 0 0 0 0 0 0 0 0 0 16 Of which insurance undertakings 0 0 0 0 0 0 0 0 0 0 17 Loans and Advances 0 0 0 0 0 0 0 0 0 0 18 Debt securities, including UoP 0 0 0 0 0 0 0 0 0 0 19 Equity Instruments 0 0 0 0 0 0 0 0 0 0 20 Non-Financial Undertakings 8,817 1 0 0 0 3,430 1,636 0 73 1,117 21 Loans and Advances 7,429 0 0 0 0 2,539 1,168 0 70 743 22 Debt securities, including UoP 1,365 0 0 0 0 878 458 0 3 369 23 Equity Instruments 23 0 0 0 0 13 10 0 0 5
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248 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 a w x z aa ab ac ad ae af Mn PLN 31.12.2024 Total (gross) carrying amount Biodiversity and Ecosystems (BIO) TOTAL (CCM + CCA + WTR + CE + PPC + BIO) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which environmentally sustainable (taxonomy - aligned) Of which environmentally sustainable (taxonomy -aligned) Of which Use Proceeds Of which enabling Of which Use Proceeds Of which transitional Of which enabling 24 Households 88,912 0 0 0 0 61,233 1,528 0 0 0 25 Of which loans collateralised by residential immovable property 61,236 0 0 0 0 61,233 1,528 0 0 0 26 Of which building renovation loans 0 0 0 0 0 0 0 0 0 0 27 Of which motor vehicle loans 0 0 0 0 0 0 0 0 0 0 28 Local governments financing 1,659 0 0 0 0 1,087 0 0 0 0 29 Housing Financing 0 0 0 0 0 0 0 0 0 0 30 Other Local Government Financing 1,659 0 0 0 0 1,087 0 0 0 0 31 Collateral obtained by taking possession: residential and commercial immovable properties 0 0 0 0 0 0 0 0 0 0 32 Assets excluded from the numerator for GAR calculation (covered in the denominator) 136,456 33 Non-Financial Undertakings 87,797 34 SMEs and NFCs (other than SMEs) not subject to NFRD disclosure obligations 86,675 35 Loans and Advances 77,835 36 Of which loans collateralised by commercial immovable property 22,019 37 Of which building renovation loans 0 38 Debt Securities 8,407 39 Equity Instruments 434 40 Non-EU country counterparties not subject to NFRD disclosure obligations 1,122 41 Loans and Advances 741 42 Debt Securities 109 43 Equity Instruments 272 44 Derivatives 448 45 On demand interbank loans 493 46 Cash and Cash-Related Assets 4,461 47 Other categories of assets (e.g. Goodwill, commodities etc.) 43,257 48 Total GAR assets 236,955 1 0 0 0 65,907 3,173 0 76 1,120
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249 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 a w x z aa ab ac ad ae af Mn PLN 31.12.2024 Total (gross) carrying amount Biodiversity and Ecosystems (BIO) TOTAL (CCM + CCA + WTR + CE + PPC + BIO) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which towards taxonomy-relevant sectors (Taxonomy-eligible) Of which environmentally sustainable (taxonomy - aligned) Of which environmentally sustainable (taxonomy -aligned) Of which Use Proceeds Of which enabling Of which Use Proceeds Of which transitional Of which enabling 49 Assets not covered for GAR calculation 103,416 50 Central Governments and Supranational Issuers 64,146 51 Central banks exposure 33,632 52 Trading book 5,639 53 Total Assets 340,371 1 0 0 0 65,907 3,173 0 76 1,120 Off-Balance Sheet Exposures – Undertakings subject to NFRD disclosure obligations 54 Financial Guarantees 31,701 0 0 0 0 242 239 0 0 194 55 Assets under management 4,060 0 0 0 0 2,424 648 0 97 380 56 Of which Debt Securities 1,424 0 0 0 0 1,481 398 0 64 277 57 Of which Equity Instruments 2,636 0 0 0 0 943 250 0 33 103
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250 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Template 2: GAR sector information as at 31 December 2025 – Part 1 [Mn PLN] a b c d e f g h i j k l m n o p Breakdown by sector NACE 4 digits level (code and label) Climate Change Mitigation (CCM) Climate Change Adaptation (CCA) Water and Marine Resources (WMR) Circular Economy (CE) Non-Financial corporates (Subject to NFRD) SMEs and Other NFC not subject to NFRD Non-Financial corporates (Subject to NFRD) SMEs and Other NFC not subject to NFRD Non-Financial corporates (Subject to NFRD) SMEs and Other NFC not subject to NFRD Non-Financial corporates (Subject to NFRD) SMEs and Other NFC not subject to NFRD [Gross] Carrying Amount [Gross] Carrying Amount [Gross] Carrying Amount [Gross] Carrying Amount [Gross] Carrying Amount [Gross] Carrying Amount [Gross] Carrying Amount [Gross] Carrying Amount Mn PLN Of which Environmentally Sustainable (CCM) Mn PLN Of which Environmentally Sustainable (CCM) Mn PLN Of which Environmentally Sustainable (CCA) Mn PLN Of which Environmentally Sustainable (CCA) Mn PLN Of which Environmentally Sustainable (WMR) Mn PLN Of which Environmentally Sustainable (WMR) Mn PLN Of which Environmentally Sustainable (CE) Mn PLN Of which Environmentally Sustainable (CE) 1 C20.15 464 8 464 0 464 0 464 1 2 C22.22 11 0 11 0 11 0 11 0 3 C23.20 11 0 11 0 11 0 11 0 4 C24.42 90 20 90 0 90 0 90 0 5 C25.11 30 0 30 0 30 0 30 0 6 C25.93 43 0 43 0 43 0 43 0 7 C30.20 0 0 0 0 0 0 0 0 8 F41.20 16 0 16 0 16 0 16 0 9 F42.11 1 0 1 0 1 0 1 0 10 F42.12 0 0 0 0 0 0 0 0 11 J62.01 1 0 1 0 1 0 1 0 12 C24.51 11 0 11 0 11 0 11 0 13 D35.30 0 0 0 0 0 0 0 0
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251 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Template 2: GAR sector information as at 31 December 2025 – Part 2 [Mn PLN] q r s t u v w x y z aa ab Breakdown by sector NACE 4 digits level (code and label) Pollution (PPC) Biodiversity and Ecosystems (BIO) TOTAL (CCM + CCA + WTR + CE + PPC + BIO) Non-Financial corporates (Subject to NFRD) SMEs and Other NFC not subject to NFRD Non-Financial corporates (Subject to NFRD) SMEs and Other NFC not subject to NFRD Non-Financial corporates (Subject to NFRD) SMEs and Other NFC not subject to NFRD [Gross] Carrying Amount [Gross] Carrying Amount [Gross] Carrying Amount [Gross] Carrying Amount [Gross] Carrying Amount [Gross] Carrying Amount Mn PLN Of which Environmentally Sustainable (PPC) Mn PLN Of which Environmentally Sustainable (PPC) Mn PLN Of which Environmentally Sustainable (BIO) Mn PLN Of which Environmentally Sustainable (BIO) Mn PLN Of which environmentally sustainable (CCM + CCA + WTR + CE + PPC + BIO) Mn PLN Of which environmentally sustainable (CCM + CCA + WTR + CE + PPC + BIO) 1 C20.15 464 0 464 0 464 8 2 C22.22 11 0 11 0 11 0 3 C23.20 11 0 11 0 11 0 4 C24.42 90 0 90 0 90 20 5 C25.11 30 0 30 0 30 0 6 C25.93 43 0 43 0 43 0 7 C30.20 0 0 0 0 0 0 8 F41.20 16 0 16 0 16 0 9 F42.11 1 0 1 0 1 0 10 F42.12 0 0 0 0 0 0 11 J62.01 1 0 1 0 1 0 12 C24.51 11 0 11 0 11 0 13 D35.30 0 0 0 0 0 0
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252 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Template 3: GAR KPI stock as at 31 December 2025 – Part 1 [%] a b c d e f g h i j k l m % (compared to total covered assets in the denominator) 31.12.2025 Climate Change Mitigation (CCM) Climate Change Adaptation (CCA) Water and Marine Resources (WMR) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Of which Use Proceeds Of which transitional Of which enabling Of which Use Proceeds Of which enabling Of which Use Proceeds Of which enabling GAR - Covered assets in both numerator and denominator 1 Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation 27,76% 1,33% 0,00% 0,03% 0,47% 0,05% 0,01% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 2 Financial Undertakings 0,07% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 3 Credit Institutions 0,07% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 4 Loans and Advances 0,07% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 5 Debt securities, including UoP 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 6 Equity Instruments 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 7 Other financial corporations 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 8 Of which investment firms 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 9 Loans and Advances 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 10 Debt securities, including UoP 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 11 Equity Instruments 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 12 of which asset management companies 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 13 Loans and Advances 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 14 Debt securities, including UoP 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 15 Equity Instruments 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 16 Of which insurance undertakings 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 17 Loans and Advances 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 18 Debt securities, including UoP 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 19 Equity Instruments 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
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253 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 a b c d e f g h i j k l m % (compared to total covered assets in the denominator) 31.12.2025 Climate Change Mitigation (CCM) Climate Change Adaptation (CCA) Water and Marine Resources (WMR) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Of which Use Proceeds Of which transitional Of which enabling Of which Use Proceeds Of which enabling Of which Use Proceeds Of which enabling 20 Non-Financial Undertakings 1,39% 0,68% 0,00% 0,03% 0,47% 0,05% 0,01% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 21 Loans and Advances 1,03% 0,49% 0,00% 0,03% 0,31% 0,04% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 22 Debt securities, including UoP 0,36% 0,19% 0,00% 0,00% 0,15% 0,01% 0,01% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 23 Equity Instruments 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 24 Households 25,84% 0,64% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 25 Of which loans collateralised by residential immovable property 25,84% 0,64% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 26 Of which building renovation loans 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 27 Of which motor vehicle loans 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 28 Local governments financing 0,46% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 29 Housing Financing 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 30 Other Local Government Financing 0,46% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 31 Collateral obtained by taking possession: residential and commercial immovable properties 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 32 Total GAR assets 27,76% 1,33% 0,00% 0,03% 0,47% 0,05% 0,01% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
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254 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Template 3: GAR KPI stock as at 31 December 2025 – Part 2 [%] n o p q r s t u % (compared to total covered assets in the denominator) 31.12.2025 Circular Economy (CE) Pollution (PPC) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy - eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy - eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Of which Use Proceeds Of which enabling Of which Use Proceeds Of which enabling GAR - Covered assets in both numerator and denominator 1 Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation 0,01% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 2 Financial Undertakings 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 3 Credit Institutions 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 4 Loans and Advances 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 5 Debt securities, including UoP 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 6 Equity Instruments 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 7 Other financial corporations 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 8 Of which investment firms 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 9 Loans and Advances 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 10 Debt securities, including UoP 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 11 Equity Instruments 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 12 of which asset management companies 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 13 Loans and Advances 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 14 Debt securities, including UoP 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 15 Equity Instruments 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 16 Of which insurance undertakings 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 17 Loans and Advances 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 18 Debt securities, including UoP 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 19 Equity Instruments 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
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255 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 n o p q r s t u % (compared to total covered assets in the denominator) 31.12.2025 Circular Economy (CE) Pollution (PPC) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy- eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy - eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Of which Use Proceeds Of which enabling Of which Use Proceeds Of which enabling 20 Non-Financial Undertakings 0,01% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 21 Loans and Advances 0,01% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 22 Debt securities, including UoP 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 23 Equity Instruments 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 24 Households 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 25 Of which loans collateralised by residential immovable property 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 26 Of which building renovation loans 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 27 Of which motor vehicle loans 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 28 Local governments financing 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 29 Housing Financing 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 30 Other Local Government Financing 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 31 Collateral obtained by taking possession: residential and commercial immovable properties 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 32 Total GAR assets 0,01% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
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256 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Template 3: GAR KPI stock as at 31 December 2025 – Part 3 [%] v w x z aa ab ac ad ae af % (compared to total covered assets in the denominator) 31.12.2025 Biodiversity and Ecosystems (BIO) TOTAL (CCM + CCA + WTR + CE + PPC + BIO) Proportion of total assets covered Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy -eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Of which Use Proceeds Of which enabling Of which Use Proceeds Of which transitional Of which enabling GAR - Covered assets in both numerator and denominator 1 Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation 0,00% 0,00% 0,00% 0,00% 27,81% 1,34% 0,00% 0,03% 0,47% 29,53% 2 Financial Undertakings 0,00% 0,00% 0,00% 0,00% 0,07% 0,00% 0,00% 0,00% 0,00% 0,33% 3 Credit Institutions 0,00% 0,00% 0,00% 0,00% 0,07% 0,00% 0,00% 0,00% 0,00% 0,33% 4 Loans and Advances 0,00% 0,00% 0,00% 0,00% 0,07% 0,00% 0,00% 0,00% 0,00% 0,33% 5 Debt securities, including UoP 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 6 Equity Instruments 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 7 Other financial corporations 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 8 Of which investment firms 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 9 Loans and Advances 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 10 Debt securities, including UoP 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 11 Equity Instruments 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 12 Of which asset management companies 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 13 Loans and Advances 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 14 Debt securities, including UoP 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 15 Equity Instruments 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 16 Of which insurance undertakings 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 17 Loans and Advances 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 18 Debt securities, including UoP 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 19 Equity Instruments 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
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257 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 v w x z aa ab ac ad ae af % (compared to total covered assets in the denominator) 31.12.2025 Biodiversity and Ecosystems (BIO) TOTAL (CCM + CCA + WTR + CE + PPC + BIO) Proportion of total assets covered Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy -eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Of which Use Proceeds Of which enabling Of which Use Proceeds Of which transitional Of which enabling 20 Non-Financial Undertakings 0,00% 0,00% 0,00% 0,00% 1,45% 0,69% 0,00% 0,03% 0,47% 2,59% 21 Loans and Advances 0,00% 0,00% 0,00% 0,00% 1,07% 0,49% 0,00% 0,03% 0,31% 2,18% 22 Debt securities, including UoP 0,00% 0,00% 0,00% 0,00% 0,37% 0,19% 0,00% 0,00% 0,16% 0,40% 23 Equity Instruments 0,00% 0,00% 0,00% 0,01% 0,00% 0,00% 0,00% 0,01% 24 Households 0,00% 0,00% 0,00% 0,00% 25,84% 0,64% 0,00% 0,00% 0,00% 26,12% 25 Of which loans collateralised by residential immovable property 0,00% 0,00% 0,00% 0,00% 25,84% 0,64% 0,00% 0,00% 0,00% 17,99% 26 Of which building renovation loans 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 27 Of which motor vehicle loans 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 28 Local governments financing 0,00% 0,00% 0,00% 0,00% 0,46% 0,00% 0,00% 0,00% 0,00% 0,49% 29 Housing Financing 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 30 Other Local Government Financing 0,00% 0,00% 0,00% 0,00% 0,46% 0,00% 0,00% 0,00% 0,00% 0,49% 31 Collateral obtained by taking possession: residential and commercial immovable properties 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 32 Total GAR assets 0,00% 0,00% 0,00% 0,00% 27,81% 1,34% 0,00% 0,03% 0,47% 69,62%
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258 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Template 3: GAR KPI stock as at 31 December 2024 – Part 1 [%] a b c d e f g h i j k l m % (compared to total covered assets in the denominator) 31.12.2025 Climate Change Mitigation (CCM) Climate Change Adaptation (CCA) Water and Marine Resources (WMR) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Of which Use Proceeds Of which transitional Of which enabling Of which Use Proceeds Of which enabling Of which Use Proceeds Of which enabling GAR - Covered assets in both numerator and denominator 1 Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation 27.72% 1.90% 0.00% 0.01% 0.17% 0.11% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 2 Financial Undertakings 0.04% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 3 Credit Institutions 0.04% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 4 Loans and Advances 0.04% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 5 Debt securities, including UoP 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 6 Equity Instruments 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 7 Other financial corporations 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 8 Of which investment firms 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 9 Loans and Advances 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 10 Debt securities, including UoP 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 11 Equity Instruments 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 12 of which asset management companies 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 13 Loans and Advances 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 14 Debt securities, including UoP 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 15 Equity Instruments 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 16 Of which insurance undertakings 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 17 Loans and Advances 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 18 Debt securities, including UoP 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 19 Equity Instruments 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
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259 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 a b c d e f g h i j k l m % (compared to total covered assets in the denominator) 31.12.2025 Climate Change Mitigation (CCM) Climate Change Adaptation (CCA) Water and Marine Resources (WMR) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Of which Use Proceeds Of which transitional Of which enabling Of which Use Proceeds Of which enabling Of which Use Proceeds Of which enabling 20 Non-Financial Undertakings 1.05% 0.33% 0.00% 0.01% 0.17% 0.11% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 21 Loans and Advances 0.80% 0.16% 0.00% 0.01% 0.05% 0.10% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 22 Debt securities, including UoP 0.25% 0.17% 0.00% 0.00% 0.12% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 23 Equity Instruments 0.01% 0.01% 0.00% 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 24 Households 26.28% 1.57% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 25 Of which loans collateralised by residential immovable property 26.28% 1.57% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 26 Of which building renovation loans 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 27 Of which motor vehicle loans 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 28 Local governments financing 0.35% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 29 Housing Financing 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 30 Other Local Government Financing 0.35% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 31 Collateral obtained by taking possession: residential and commercial immovable properties 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 32 Total GAR assets 27.72% 1.90% 0.00% 0.01% 0.17% 0.11% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
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260 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Template 3: GAR KPI stock as at 31 December 2024 – Part 2 [%] n o p q r s t u % (compared to total covered assets in the denominator) 31.12.2025 Circular Economy (CE) Pollution (PPC) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy- eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy - eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Of which Use Proceeds Of which enabling Of which Use Proceeds Of which enabling GAR - Covered assets in both numerator and denominator 1 Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation 0.02% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 2 Financial Undertakings 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 3 Credit Institutions 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 4 Loans and Advances 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 5 Debt securities, including UoP 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 6 Equity Instruments 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 7 Other financial corporations 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 8 Of which investment firms 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 9 Loans and Advances 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 10 Debt securities, including UoP 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 11 Equity Instruments 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 12 of which asset management companies 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 13 Loans and Advances 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 14 Debt securities, including UoP 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 15 Equity Instruments 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 16 Of which insurance undertakings 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 17 Loans and Advances 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 18 Debt securities, including UoP 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 19 Equity Instruments 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
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261 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 n o p q r s t u % (compared to total covered assets in the denominator) 31.12.2025 Circular Economy (CE) Pollution (PPC) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy - eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy- eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Of which Use Proceeds Of which enabling Of which Use Proceeds Of which enabling 20 Non-Financial Undertakings 0.02% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 21 Loans and Advances 0.02% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 22 Debt securities, including UoP 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 23 Equity Instruments 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 24 Households 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 25 Of which loans collateralised by residential immovable property 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 26 Of which building renovation loans 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 27 Of which motor vehicle loans 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 28 Local governments financing 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 29 Housing Financing 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 30 Other Local Government Financing 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 31 Collateral obtained by taking possession: residential and commercial immovable properties 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 32 Total GAR assets 0.02% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
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262 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Template 3: GAR KPI stock as at 31 December 2024 – Part 3 [%] v w x z aa ab ac ad ae af % (compared to total covered assets in the denominator) 31.12.2025 Biodiversity and Ecosystems (BIO) TOTAL (CCM + CCA + WTR + CE + PPC + BIO) Proportion of total assets covered Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy -eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Of which Use Proceeds Of which enabling Of which Use Proceeds Of which transitional Of which enabling GAR - Covered assets in both numerator and denominator 1 Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation 0.00% 0.00% 0.00% 0.00% 27.85% 1.91% 0.00% 0.01% 0.17% 28.74% 2 Financial Undertakings 0.00% 0.00% 0.00% 0.00% 0.04% 0.00% 0.00% 0.00% 0.00% 0.30% 3 Credit Institutions 0.00% 0.00% 0.00% 0.00% 0.04% 0.00% 0.00% 0.00% 0.00% 0.30% 4 Loans and Advances 0.00% 0.00% 0.00% 0.00% 0.04% 0.00% 0.00% 0.00% 0.00% 0.24% 5 Debt securities, including UoP 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.06% 6 Equity Instruments 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 7 Other financial corporations 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 8 Of which investment firms 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 9 Loans and Advances 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 10 Debt securities, including UoP 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 11 Equity Instruments 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 12 Of which asset management companies 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 13 Loans and Advances 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 14 Debt securities, including UoP 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 15 Equity Instruments 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 16 Of which insurance undertakings 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 17 Loans and Advances 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 18 Debt securities, including UoP 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 19 Equity Instruments 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
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263 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 v w x z aa ab ac ad ae af % (compared to total covered assets in the denominator) 31.12.2025 Biodiversity and Ecosystems (BIO) TOTAL (CCM + CCA + WTR + CE + PPC + BIO) Proportion of total assets covered Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy -eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Of which Use Proceeds Of which enabling Of which Use Proceeds Of which transitional Of which enabling 20 Non-Financial Undertakings 0.00% 0.00% 0.00% 0.00% 1.18% 0.34% 0.00% 0.01% 0.17% 2.34% 21 Loans and Advances 0.00% 0.00% 0.00% 0.00% 0.92% 0.16% 0.00% 0.01% 0.05% 1.78% 22 Debt securities, including UoP 0.00% 0.00% 0.00% 0.00% 0.26% 0.17% 0.00% 0.00% 0.12% 0.55% 23 Equity Instruments 0.00% 0.00% 0.00% 0.01% 0.01% 0.00% 0.01% 0.01% 24 Households 0.00% 0.00% 0.00% 0.00% 26.28% 1.57% 0.00% 0.00% 0.00% 25.66% 25 Of which loans collateralised by residential immovable property 0.00% 0.00% 0.00% 0.00% 26.28% 1.57% 0.00% 0.00% 0.00% 18.65% 26 Of which building renovation loans 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 27 Of which motor vehicle loans 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 28 Local governments financing 0.00% 0.00% 0.00% 0.00% 0.35% 0.00% 0.00% 0.00% 0.00% 0.44% 29 Housing Financing 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 30 Other Local Government Financing 0.00% 0.00% 0.00% 0.00% 0.35% 0.00% 0.00% 0.00% 0.00% 0.44% 31 Collateral obtained by taking possession: residential and commercial immovable properties 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 32 Total GAR assets 0.00% 0.00% 0.00% 0.00% 27.85% 1.91% 0.00% 0.01% 0.17% 70.98%
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264 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Template 4: GAR KPI flow for 2025 – Part 1 [%] a b c d e f g h i j k l m % (compared to flow of total eligible assets) 31.12.2025 Climate Change Mitigation (CCM) Climate Change Adaptation (CCA) Water and Marine Resources (WMR) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Of which Use Proceeds Of which transitional Of which enabling Of which Use Proceeds Of which enabling Of which Use Proceeds Of which enabling GAR - Covered assets in both numerator and denominator 1 Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation 12.09% 1.32% 0.00% 0.00% 0.19% 0.01% 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 2 Financial Undertakings 0.07% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 3 Credit Institutions 0.07% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 4 Loans and Advances 0.07% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 5 Debt securities, including UoP 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 6 Equity Instruments 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 7 Other financial corporations 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 8 Of which investment firms 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 9 Loans and Advances 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 10 Debt securities, including UoP 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 11 Equity Instruments 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 12 of which asset management companies 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 13 Loans and Advances 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 14 Debt securities, including UoP 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 15 Equity Instruments 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 16 Of which insurance undertakings 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 17 Loans and Advances 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 18 Debt securities, including UoP 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 19 Equity Instruments 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
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265 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 a b c d e f g h i j k l m % (compared to flow of total eligible assets) 31.12.2025 Climate Change Mitigation (CCM) Climate Change Adaptation (CCA) Water and Marine Resources (WMR) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Of which Use Proceeds Of which transitional Of which enabling Of which Use Proceeds Of which enabling Of which Use Proceeds Of which enabling 20 Non-Financial Undertakings 1.07% 0.32% 0.00% 0.00% 0.19% 0.01% 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 21 Loans and Advances 0.74% 0.16% 0.00% 0.00% 0.10% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 22 Debt securities, including UoP 0.31% 0.13% 0.00% 0.00% 0.08% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 23 Equity Instruments 0.02% 0.02% 0.00% 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 24 Households 9.99% 1.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 25 Of which loans collateralised by residential immovable property 9.85% 1.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 26 Of which building renovation loans 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 27 Of which motor vehicle loans 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 28 Local governments financing 0.95% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 29 Housing Financing 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 30 Other Local Government Financing 0.95% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 31 Collateral obtained by taking possession: residential and commercial immovable properties 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 32 Total GAR assets 12.09% 1.32% 0.00% 0.00% 0.19% 0.01% 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
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266 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Template 4: GAR KPI flow for 2025 – Part 2 [%] n o p q r s t u % (compared to flow of total eligible assets) 31.12.2025 Circular Economy (CE) Pollution (PPC) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy- eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy - eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Of which Use Proceeds Of which enabling Of which Use Proceeds Of which enabling GAR - Covered assets in both numerator and denominator 1 Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation 0.05% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 2 Financial Undertakings 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 3 Credit Institutions 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 4 Loans and Advances 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 5 Debt securities, including UoP 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 6 Equity Instruments 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 7 Other financial corporations 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 8 Of which investment firms 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 9 Loans and Advances 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 10 Debt securities, including UoP 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 11 Equity Instruments 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 12 of which asset management companies 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 13 Loans and Advances 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 14 Debt securities, including UoP 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 15 Equity Instruments 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 16 Of which insurance undertakings 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 17 Loans and Advances 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 18 Debt securities, including UoP 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 19 Equity Instruments 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
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267 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 n o p q r s t u % (compared to flow of total eligible assets) 31.12.2025 Circular Economy (CE) Pollution (PPC) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy - eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy- eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Of which Use Proceeds Of which enabling Of which Use Proceeds Of which enabling 20 Non-Financial Undertakings 0.05% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 21 Loans and Advances 0.05% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 22 Debt securities, including UoP 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 23 Equity Instruments 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 24 Households 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 25 Of which loans collateralised by residential immovable property 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 26 Of which building renovation loans 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 27 Of which motor vehicle loans 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 28 Local governments financing 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 29 Housing Financing 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 30 Other Local Government Financing 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 31 Collateral obtained by taking possession: residential and commercial immovable properties 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 32 Total GAR assets 0.05% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
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268 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Template 4: GAR KPI flow for 2025 – Part 3 [%] v w x z aa ab ac ad ae af % (compared to flow of total eligible assets) 31.12.2025 Biodiversity and Ecosystems (BIO) TOTAL (CCM + CCA + WTR + CE + PPC + BIO) Proportion of total assets covered Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy -eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Of which Use Proceeds Of which enabling Of which Use Proceeds Of which transitional Of which enabling GAR - Covered assets in both numerator and denominator 1 Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation 0.00% 0.00% 0.00% 0.00% 12.15% 1.33% 0.00% 0.01% 0.19% 23.44% 2 Financial Undertakings 0.00% 0.00% 0.00% 0.00% 0.07% 0.00% 0.00% 0.00% 0.00% 0.54% 3 Credit Institutions 0.00% 0.00% 0.00% 0.00% 0.07% 0.00% 0.00% 0.00% 0.00% 0.54% 4 Loans and Advances 0.00% 0.00% 0.00% 0.00% 0.07% 0.00% 0.00% 0.00% 0.00% 0.36% 5 Debt securities, including UoP 0.00% 0.00% 0.00% 0.00% 0.01% 0.00% 0.00% 0.00% 0.00% 0.18% 6 Equity Instruments 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 7 Other financial corporations 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 8 Of which investment firms 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 9 Loans and Advances 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 10 Debt securities, including UoP 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 11 Equity Instruments 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 12 Of which asset management companies 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 13 Loans and Advances 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 14 Debt securities, including UoP 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 15 Equity Instruments 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 16 Of which insurance undertakings 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 17 Loans and Advances 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 18 Debt securities, including UoP 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 19 Equity Instruments 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
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269 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 v w x z aa ab ac ad ae af % (compared to flow of total eligible assets) 31.12.2025 Biodiversity and Ecosystems (BIO) TOTAL (CCM + CCA + WTR + CE + PPC + BIO) Proportion of total assets covered Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy -eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Of which Use Proceeds Of which enabling Of which Use Proceeds Of which transitional Of which enabling 20 Non-Financial Undertakings 0.00% 0.00% 0.00% 0.00% 1.14% 0.32% 0.00% 0.01% 0.19% 3.27% 21 Loans and Advances 0.00% 0.00% 0.00% 0.00% 0.79% 0.16% 0.00% 0.00% 0.10% 2.21% 22 Debt securities, including UoP 0.00% 0.00% 0.00% 0.00% 0.33% 0.14% 0.00% 0.00% 0.08% 1.04% 23 Equity Instruments 0.00% 0.00% 0.00% 0.02% 0.02% 0.00% 0.01% 0.02% 24 Households 0.00% 0.00% 0.00% 0.00% 9.99% 1.00% 0.00% 0.00% 0.00% 18.28% 25 Of which loans collateralised by residential immovable property 0.00% 0.00% 0.00% 0.00% 9.85% 1.00% 0.00% 0.00% 0.00% 7.81% 26 Of which building renovation loans 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 27 Of which motor vehicle loans 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 28 Local governments financing 0.00% 0.00% 0.00% 0.00% 0.95% 0.00% 0.00% 0.00% 0.00% 1.35% 29 Housing Financing 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 30 Other Local Government Financing 0.00% 0.00% 0.00% 0.00% 0.95% 0.00% 0.00% 0.00% 0.00% 1.35% 31 Collateral obtained by taking possession: residential and commercial immovable properties 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 32 Total GAR assets 0.00% 0.00% 0.00% 0.00% 12.15% 1.33% 0.00% 0.01% 0.19% 79.22%
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270 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Template 5: KPI off-balance-sheet exposures as at 31 December 2025 – Part 1 [%] a b c d e f g h i j k l m % (compared to total eligible off-balance sheet assets) 31.12.2025 Climate Change Mitigation (CCM) Climate Change Adaptation (CCA) Water and Marine Resources (WMR) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Of which Use Proceeds Of which transitional Of which enabling Of which Use Proceeds Of which enabling Of which Use Proceeds Of which enabling 1 Financial guarantees (FinGuar KPI) 0.60% 0.59% 0.00% 0.00% 0.40% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 2 Assets under management (AuM KPI) 34.29% 9.97% 0.00% 0.74% 7.27% 20.56% 0.11% 0.00% 0.00% 0.01% 0.00% 0.00% 0.00%
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271 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Template 5: KPI off-balance-sheet exposures as at 31 December 2025 – Part 2 [%] n o p q r s t u % (compared to total eligible off-balance sheet assets) 31.12.2025 Circular Economy (CE) Pollution (PPC) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy -eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Of which Use Proceeds Of which enabling Of which Use Proceeds Of which enabling 1 Financial guarantees (FinGuar KPI) 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 2 Assets under management (AuM KPI) 0.66% 0.01% 0.00% 0.00% 0.04% 0.00% 0.00% 0.00% Template 5: KPI off-balance-sheet exposures as at 31 December 2025 – Part 3 [%] v w x z aa ab ac ad ae % (compared to total eligible off-balance sheet assets) 31.12.2025 Biodiversity and Ecosystems (BIO) TOTAL (CCM + CCA + WMR + CE + PPC + BIO) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy - eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy - aligned) Of which Use Proceeds Of which enabling Of which Use Proceeds Of which transitional Of which enabling 1 Financial guarantees (FinGuar KPI) 0.00% 0.00% 0.00% 0.00% 0.60% 0.59% 0.00% 0.00% 0.40% 2 Assets under management (AuM KPI) 0.00% 0.00% 0.00% 0.00% 55.56% 10.08% 0.00% 0.74% 7.27%
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272 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Template 5: KPI off-balance-sheet exposures in relation to flow for 2025 – Part 1 [%] a b c d e f g h i j k l m % (compared to total eligible off-balance sheet assets) 31.12.2025 Climate Change Mitigation (CCM) Climate Change Adaptation (CCA) Water and Marine Resources (WMR) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Of which Use Proceeds Of which transitional Of which enabling Of which Use Proceeds Of which enabling Of which Use Proceeds Of which enabling 1 Financial guarantees (FinGuar KPI) 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 2 Assets under management (AuM KPI) 20.85% 3.73% 0.00% 0.58% 2.28% 13.38% 1.72% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
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273 Bank Pekao S.A. Report on the Activities of the Bank Pekao S.A. Group for 2025 Template 5: KPI off-balance-sheet exposures in relation to flow for 2025 – Part 2 [%] n o p q r s t u % (compared to total eligible off-balance sheet assets) 31.12.2025 Circular Economy (CE) Pollution (PPC) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy -eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy -eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Of which Use Proceeds Of which enabling Of which Use Proceeds Of which enabling 1 Financial guarantees (FinGuar KPI) 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 2 Assets under management (AuM KPI) 5.24% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Template 5: KPI off-balance-sheet exposures in relation to flow for 2025 – Part 3 [%] v w x z aa ab ac ad ae % (compared to total eligible off-balance sheet assets) 31.12.2025 Biodiversity and Ecosystems (BIO) TOTAL (CCM + CCA + WMR + CE + PPC + BIO) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy - eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy -eligible) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy- aligned) Of which Use Proceeds Of which enabling Of which Use Proceeds Of which transitional Of which enabling 1 Financial guarantees (FinGuar KPI) 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 2 Assets under management (AuM KPI) 0.00% 0.00% 0.00% 0.00% 39.47% 5.45% 0.00% 0.58% 2.28%
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274 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. Disclosures of Indicators Related to Nuclear Energy and Natural Gas Activities in Accordance with Annex XII to Regulation 2021/2178 Below, the Group presents disclosures of the amount and share of activities that are eligible and taxonomy-aligned in both the numerator and denominator of its key performance indicators, as well as non -eligible activities in the denominator of its key performance indicators. These disclosures pertain to activities described in sections 4.26 – 4.31 of Annexes I and II to Delegated Regulation (EU) 2021/2139, in accordance with the scope defined in Templates 1 -5 of Annex XII to Regulation 2021/2178. Disclosures related to gas and nuclear activities have been made concerning exposures to non-financial undertakings that are subject to non-financial reporting requirements under Corporate Sustainability Reporting Directive (CSRD). The disclosures have been prepared based on data published by the Group’s customers within their taxonomy disclosures for 2024.The disclosures are presented on a consolidated basis, in accordance with the prudential consolidation scope of the Group. Disclosures Based on Counterparty Key Performance Indicator by Turnover (KPI Turnover) – Green Asset Ratio as of 31.12.2025 Template 1: Activities Related to Nuclear Energy and Natural Gas No. Nuclear Energy Activities 1. The company conducts research, development, demonstration, and deployment of innovative power generation facilities that produce energy through nuclear processes with minimal fuel cycle waste, finances such activities, or has exposure to them. NO 2. The company engages in the construction and safe operation of new nuclear facilities for electricity or industrial heat production, including district heating systems or processes such as hydrogen production, as well as their safety- oriented modernisation using best available technologies, finances such activities, or has exposure to them. NO 3. The company engages in the safe operation of existing nuclear facilities generating electricity or industrial heat, including district heating systems or processes such as hydrogen production from nuclear energy, as well as their safety-oriented modernisation, finances such activities, or has exposure to them. NO Natural Gas Activities 4. The company engages in the construction or operation of power generation facilities using gaseous fossil fuels, finances such activities, or has exposure to them. YES 5. The company engages in the construction, modernisation, and operation of cogeneration plants producing heat/cooling and electricity using gaseous fossil fuels, finances such activities, or has exposure to them. YES 6. The company engages in the construction, modernisation, and operation of heat production facilities generating thermal/cooling energy using gaseous fossil fuels, finances such activities, or has exposure to them. YES
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275 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. Template 2: Taxonomy-Aligned Business Activities (Denominator) [Mn PLN] No. Type of Business Activity Amount and Share CCM + CCA Climate Change Mitigation (CCM) Climate Change Adaptation (CCA) Amount % Amount % Amount % 1. Amount and share of taxonomy-aligned business activities referred to in section 4.26 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 0 0.00% 0 0.00% 0 0.00% 2. Amount and share of taxonomy-aligned business activities referred to in section 4.27 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 0 0.00% 0 0.00% 0 0.00% 3. Amount and share of taxonomy-aligned business activities referred to in section 4.28 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 0 0.00% 0 0.00% 0 0.00% 4. Amount and share of taxonomy-aligned business activities referred to in section 4.29 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 0 0.00% 0 0.00% 0 0.00% 5. Amount and share of taxonomy-aligned business activities referred to in section 4.30 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 0 0.00% 0 0.00% 0 0.00% 6. Amount and share of taxonomy-aligned business activities referred to in section 4.31 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 0 0.00% 0 0.00% 0 0.00% 7. Amount and share of other taxonomy-aligned business activities not listed in rows 1-6 above in the denominator of the applicable key performance indicator 4,365 1.71% 4,365 1.71% 1 0.00% 8. Total applicable key performance indicator 4,365 1.71% 4,365 1.71% 1 0.00%
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276 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. Template 3: Taxonomy-Aligned Business Activities (Numerator) [Mn PLN] No. Type of Business Activity Amount and Share (CCM+CCA) Climate Change Mitigation (CCM) Climate Change Adaptation (CCA) Amount % Amount % Amount % 1. Amount and share of taxonomy-aligned business activities referred to in section 4.26 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the numerator of the applicable key performance indicator 0 0.00% 0 0.00% 0 0.00% 2. Amount and share of taxonomy-aligned business activities referred to in section 4.27 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the numerator of the applicable key performance indicator 0 0.00% 0 0.00% 0 0.00% 3. Amount and share of taxonomy-aligned business activities referred to in section 4.28 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the numerator of the applicable key performance indicator 0 0.00% 0 0.00% 0 0.00% 4. Amount and share of taxonomy-aligned business activities referred to in section 4.29 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the numerator of the applicable key performance indicator 0 0.00% 0 0.00% 0 0.00% 5. Amount and share of taxonomy-aligned business activities referred to in section 4.30 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the numerator of the applicable key performance indicator 0 0.00% 0 0.00% 0 0.00% 6. Amount and share of taxonomy-aligned business activities referred to in section 4.31 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the numerator of the applicable key performance indicator 0 0.00% 0 0.00% 0 0.00% 7. Amount and share of other taxonomy-aligned business activities not listed in rows 1-6 above in the numerator of the applicable key performance indicator 4,365 100.00% 4,365 99.98% 1 0.02% 8. Total amount and total share of taxonomy-aligned business activities in the numerator of the applicable key performance indicator 4,365 100.00% 4,365 99.98% 1 0.02%
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277 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. Template 4: Taxonomy-Eligible but Not Taxonomy-Aligned Business Activities [Mn PLN] No. Type of Business Activity Amount and Share (CCM+CCA) Climate Change Mitigation (CCM) Climate Change Adaptation (CCA) Amount % Amount % Amount % 1. Amount and share of taxonomy-eligible but not taxonomy-aligned business activities referred to in section 4.26 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 0 0.00% 0 0.00% 0 0.00% 2. Amount and share of taxonomy-eligible but not taxonomy-aligned business activities referred to in section 4.27 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 0 0.00% 0 0.00% 0 0.00% 3. Amount and share of taxonomy-eligible but not taxonomy-aligned business activities referred to in section 4.28 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 0 0.00% 0 0.00% 0 0.00% 4. Amount and share of taxonomy-eligible but not taxonomy-aligned business activities referred to in section 4.29 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 2 0.00% 2 0.00% 0 0.00% 5. Amount and share of taxonomy-eligible but not taxonomy-aligned business activities referred to in section 4.30 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 10 0.00% 10 0.00% 0 0.00% 6. Amount and share of taxonomy-eligible but not taxonomy-aligned business activities referred to in section 4.31 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 1 0.00% 1 0.00% 0 0.00% 7. Amount and share of other taxonomy-eligible but not taxonomy-aligned business activities not listed in rows 1-6 above in the denominator of the applicable key performance indicator 64,726 25.42% 64,445 25.31% 281 0.11% 8. Total amount and total share of taxonomy-eligible but not taxonomy-aligned business activities in the denominator of the applicable key performance indicator 64,739 25.42% 64,458 25.31% 281 0.11%
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278 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. Template 5: Non-Taxonomy-Eligible Business Activities [Mn PLN] No. Type of Business Activity Amount Percentage Share 1. Amount and share of business activities referred to in row 1 of Template 1 that are non- taxonomy-eligible according to section 4.26 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 0 0.00% 2. Amount and share of business activities referred to in row 2 of Template 1 that are non- taxonomy-eligible according to section 4.27 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 0 0.00% 3. Amount and share of business activities referred to in row 3 of Template 1 that are non- taxonomy-eligible according to section 4.28 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 0 0.00% 4. Amount and share of business activities referred to in row 4 of Template 1 that are non- taxonomy-eligible according to section 4.29 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 0 0.00% 5. Amount and share of business activities referred to in row 5 of Template 1 that are non- taxonomy-eligible according to section 4.30 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 0 0.00% 6. Amount and share of business activities referred to in row 6 of Template 1 that are non- taxonomy-eligible according to section 4.31 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 0 0.00% 7. Amount and share of other non-taxonomy-eligible business activities not listed in rows 1-6 above in the denominator of the applicable key performance indicator 34,008 13.35% 8. Total amount and total share of non-taxonomy-eligible business activities in the denominator of the applicable key performance indicator 34,008 13.35%
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279 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. Disclosures Based on Counterparty Key Performance Indicator by Capital Expenditures (KPI Capex) – Green Asset Ratio as of 31.12.2025 Template 1: Activities Related to Nuclear Energy and Natural Gas No. Nuclear Energy Activities 1. The company conducts research, development, demonstration, and deployment of innovative power generation facilities that produce energy through nuclear processes with minimal fuel cycle waste, finances such activities, or has exposure to them. NO 2. The company engages in the construction and safe operation of new nuclear facilities for electricity or industrial heat production, including district heating systems or processes such as hydrogen production, as well as their safety-oriented modernisation using best available technologies, finances such activities, or has exposure to them. NO 3. The company engages in the safe operation of existing nuclear facilities generating electricity or industrial heat, including district heating systems or processes such as hydrogen production from nuclear energy, as well as their safety-oriented modernisation, finances such activities, or has exposure to them. NO Natural Gas Activities 4. The company engages in the construction or operation of power generation facilities using gaseous fossil fuels, finances such activities, or has exposure to them. YES 5. The company engages in the construction, modernisation, and operation of cogeneration plants producing heat/cooling and electricity using gaseous fossil fuels, finances such activities, or has exposure to them. YES 6. The company engages in the construction, modernisation, and operation of heat production facilities generating thermal/cooling energy using gaseous fossil fuels, finances such activities, or has exposure to them. YES
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280 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. Template 2: Taxonomy-Aligned Business Activities (Denominator) [Mn PLN] No. Type of Business Activity Amount and Share CCM + CCA Climate Change Mitigation (CCM) Climate Change Adaptation (CCA) Amount % Amount % Amount % 1. Amount and share of taxonomy-aligned business activities referred to in section 4.26 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 0 0.00% 0 0.00% 0 0.00% 2. Amount and share of taxonomy-aligned business activities referred to in section 4.27 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 0 0.00% 0 0.00% 0 0.00% 3. Amount and share of taxonomy-aligned business activities referred to in section 4.28 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 0 0.00% 0 0.00% 0 0.00% 4. Amount and share of taxonomy-aligned business activities referred to in section 4.29 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 2 0.00% 2 0.00% 0 0.00% 5. Amount and share of taxonomy-aligned business activities referred to in section 4.30 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 0 0.00% 0 0.00% 0 0.00% 6. Amount and share of taxonomy-aligned business activities referred to in section 4.31 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 0 0.00% 0 0.00% 0 0.00% 7. Amount and share of other taxonomy-aligned business activities not listed in rows 1-6 above in the denominator of the applicable key performance indicator 4,857 1.91% 4,849 1.90% 8 0.00% 8. Total applicable key performance indicator 4,858 1.91% 4,850 1.90% 8 0.00%
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281 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. Template 3: Taxonomy-Aligned Business Activities (Numerator) [Mn PLN] No. Type of Business Activity Amount and Share (CCM+CCA) Climate Change Mitigation (CCM) Climate Change Adaptation (CCA) Amount % Amount % Amount % 1. Amount and share of taxonomy-aligned business activities referred to in section 4.26 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the numerator of the applicable key performance indicator 0 0.00% 0 0.00% 0 0.00% 2. Amount and share of taxonomy-aligned business activities referred to in section 4.27 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the numerator of the applicable key performance indicator 0 0.00% 0 0.00% 0 0.00% 3. Amount and share of taxonomy-aligned business activities referred to in section 4.28 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the numerator of the applicable key performance indicator 0 0.00% 0 0.00% 0 0.00% 4. Amount and share of taxonomy-aligned business activities referred to in section 4.29 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the numerator of the applicable key performance indicator 2 0.03% 2 0.03% 0 0.00% 5. Amount and share of taxonomy-aligned business activities referred to in section 4.30 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the numerator of the applicable key performance indicator 0 0.00% 0 0.00% 0 0.00% 6. Amount and share of taxonomy-aligned business activities referred to in section 4.31 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the numerator of the applicable key performance indicator 0 0.00% 0 0.00% 0 0.00% 7. Amount and share of other taxonomy-aligned business activities not listed in rows 1-6 above in the numerator of the applicable key performance indicator 4,857 99.97% 4,849 99.81% 8 0.16% 8. Total amount and total share of taxonomy-aligned business activities in the numerator of the applicable key performance indicator 4,858 100.00% 4,850 99.84% 8 0.16%
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282 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. Template 4: Taxonomy-Eligible but Not Taxonomy-Aligned Business Activities [Mn PLN] No. Type of Business Activity Amount and Share (CCM+CCA) Climate Change Mitigation (CCM) Climate Change Adaptation (CCA) Amount % Amount % Amount % 1. Amount and share of taxonomy-eligible but not taxonomy-aligned business activities referred to in section 4.26 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 0 0.00% 0 0.00% 0 0.00% 2. Amount and share of taxonomy-eligible but not taxonomy-aligned business activities referred to in section 4.27 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 0 0.00% 0 0.00% 0 0.00% 3. Amount and share of taxonomy-eligible but not taxonomy-aligned business activities referred to in section 4.28 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 0 0.00% 0 0.00% 0 0.00% 4. Amount and share of taxonomy-eligible but not taxonomy-aligned business activities referred to in section 4.29 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 25 0.01% 25 0.01% 0 0.00% 5. Amount and share of taxonomy-eligible but not taxonomy-aligned business activities referred to in section 4.30 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 7 0.00% 7 0.00% 0 0.00% 6. Amount and share of taxonomy-eligible but not taxonomy-aligned business activities referred to in section 4.31 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 7 0.00% 7 0.00% 0 0.00% 7. Amount and share of other taxonomy-eligible but not taxonomy-aligned business activities not listed in rows 1-6 above in the denominator of the applicable key performance indicator 65,967 25.90% 65,705 25.80% 262 0.10% 8. Total amount and total share of taxonomy-eligible but not taxonomy-aligned business activities in the denominator of the applicable key performance indicator 66,006 25.92% 65,744 25.82% 262 0.10%
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283 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. Template 5: Non-Taxonomy-Eligible Business Activities [Mn PLN] No. Type of Business Activity Amount Percentage Share 1. Amount and share of business activities referred to in row 1 of Template 1 that are non- taxonomy-eligible according to section 4.26 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 0 0.00% 2. Amount and share of business activities referred to in row 2 of Template 1 that are non- taxonomy-eligible according to section 4.27 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 0 0.00% 3. Amount and share of business activities referred to in row 3 of Template 1 that are non- taxonomy-eligible according to section 4.28 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 0 0.00% 4. Amount and share of business activities referred to in row 4 of Template 1 that are non- taxonomy-eligible according to section 4.29 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 0 0.00% 5. Amount and share of business activities referred to in row 5 of Template 1 that are non- taxonomy-eligible according to section 4.30 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 0 0.00% 6. Amount and share of business activities referred to in row 6 of Template 1 that are non- taxonomy-eligible according to section 4.31 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 0 0.00% 7. Amount and share of other non-taxonomy-eligible business activities not listed in rows 1-6 above in the denominator of the applicable key performance indicator 32,249 12.66% 8. Total amount and total share of non-taxonomy-eligible business activities in the denominator of the applicable key performance indicator 32,249 12.66%
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284 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. Disclosures Based on Counterparty Key Performance Indicator by Turnover (KPI Turnover) – Green Asset Ratio in Relation to Flow in 2025 Template 1: Activities Related to Nuclear Energy and Natural Gas No. Nuclear Energy Activities 1. The company conducts research, development, demonstration, and deployment of innovative power generation facilities that produce energy through nuclear processes with minimal fuel cycle waste, finances such activities, or has exposure to them. NO 2. The company engages in the construction and safe operation of new nuclear facilities for electricity or industrial heat production, including district heating systems or processes such as hydrogen production, as well as their safety-oriented modernisation using best available technologies, finances such activities, or has exposure to them. NO 3. The company engages in the safe operation of existing nuclear facilities generating electricity or industrial heat, including district heating systems or processes such as hydrogen production from nuclear energy, as well as their safety-oriented modernisation, finances such activities, or has exposure to them. NO Natural Gas Activities 4. The company engages in the construction or operation of power generation facilities using gaseous fossil fuels, finances such activities, or has exposure to them. YES 5. The company engages in the construction, modernisation, and operation of cogeneration plants producing heat/cooling and electricity using gaseous fossil fuels, finances such activities, or has exposure to them. YES 6. The company engages in the construction, modernisation, and operation of heat production facilities generating thermal/cooling energy using gaseous fossil fuels, finances such activities, or has exposure to them. YES
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285 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. Template 2: Taxonomy-Aligned Business Activities (Denominator) [Mn PLN] No. Type of Business Activity Amount and Share CCM + CCA Climate Change Mitigation (CCM) Climate Change Adaptation (CCA) Amount % Amount % Amount % 1. Amount and share of taxonomy-aligned business activities referred to in section 4.26 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 0 0.00% 0 0.00% 0 0.00% 2. Amount and share of taxonomy-aligned business activities referred to in section 4.27 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 0 0.00% 0 0.00% 0 0.00% 3. Amount and share of taxonomy-aligned business activities referred to in section 4.28 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 0 0.00% 0 0.00% 0 0.00% 4. Amount and share of taxonomy-aligned business activities referred to in section 4.29 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 0 0.00% 0 0.00% 0 0.00% 5. Amount and share of taxonomy-aligned business activities referred to in section 4.30 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 0 0.00% 0 0.00% 0 0.00% 6. Amount and share of taxonomy-aligned business activities referred to in section 4.31 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 0 0.00% 0 0.00% 0 0.00% 7. Amount and share of other taxonomy-aligned business activities not listed in rows 1-6 above in the denominator of the applicable key performance indicator 1,065 1.14% 1,065 1.14% 0 0.00% 8. Total applicable key performance indicator 1,065 1.14% 1,065 1.14% 0 0.00%
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286 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. Template 3: Taxonomy-Aligned Business Activities (Numerator) [Mn PLN] No. Type of Business Activity Amount and Share (CCM+CCA) Climate Change Mitigation (CCM) Climate Change Adaptation (CCA) Amount % Amount % Amount % 1. Amount and share of taxonomy-aligned business activities referred to in section 4.26 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the numerator of the applicable key performance indicator 0 0.00% 0 0.00% 0 0.00% 2. Amount and share of taxonomy-aligned business activities referred to in section 4.27 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the numerator of the applicable key performance indicator 0 0.00% 0 0.00% 0 0.00% 3. Amount and share of taxonomy-aligned business activities referred to in section 4.28 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the numerator of the applicable key performance indicator 0 0.00% 0 0.00% 0 0.00% 4. Amount and share of taxonomy-aligned business activities referred to in section 4.29 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the numerator of the applicable key performance indicator 0 0.00% 0 0.00% 0 0.00% 5. Amount and share of taxonomy-aligned business activities referred to in section 4.30 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the numerator of the applicable key performance indicator 0 0.00% 0 0.00% 0 0.00% 6. Amount and share of taxonomy-aligned business activities referred to in section 4.31 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the numerator of the applicable key performance indicator 0 0.00% 0 0.00% 0 0.00% 7. Amount and share of other taxonomy-aligned business activities not listed in rows 1-6 above in the numerator of the applicable key performance indicator 1,065 100.00% 1,065 99.99% 0 0.01% 8. Total amount and total share of taxonomy-aligned business activities in the numerator of the applicable key performance indicator 1,065 100.00% 1,065 99.99% 0 0.01%
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287 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. Template 4: Taxonomy-Eligible but Not Taxonomy-Aligned Business Activities [Mn PLN] No. Type of Business Activity Amount and Share (CCM+CCA) Climate Change Mitigation (CCM) Climate Change Adaptation (CCA) Amount % Amount % Amount % 1. Amount and share of taxonomy-eligible but not taxonomy-aligned business activities referred to in section 4.26 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 0 0.00% 0 0.00% 0 0.00% 2. Amount and share of taxonomy-eligible but not taxonomy-aligned business activities referred to in section 4.27 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 0 0.00% 0 0.00% 0 0.00% 3. Amount and share of taxonomy-eligible but not taxonomy-aligned business activities referred to in section 4.28 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 0 0.00% 0 0.00% 0 0.00% 4. Amount and share of taxonomy-eligible but not taxonomy-aligned business activities referred to in section 4.29 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 1 0.00% 1 0.00% 0 0.00% 5. Amount and share of taxonomy-eligible but not taxonomy-aligned business activities referred to in section 4.30 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 5 0.01% 5 0.01% 0 0.00% 6. Amount and share of taxonomy-eligible but not taxonomy-aligned business activities referred to in section 4.31 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 1 0.00% 1 0.00% 0 0.00% 7. Amount and share of other taxonomy-eligible but not taxonomy-aligned business activities not listed in rows 1-6 above in the denominator of the applicable key performance indicator 9,469 10.17% 9,466 10.16% 3 0.00% 8. Total amount and total share of taxonomy-eligible but not taxonomy-aligned business activities in the denominator of the applicable key performance indicator 9,476 10.18% 9,473 10.17% 3 0.00%
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288 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. Template 5: Non-Taxonomy-Eligible Business Activities [Mn PLN] No. Type of Business Activity Amount Percentage Share 1. Amount and share of business activities referred to in row 1 of Template 1 that are non- taxonomy-eligible according to section 4.26 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 0 0.00% 2. Amount and share of business activities referred to in row 2 of Template 1 that are non- taxonomy-eligible according to section 4.27 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 0 0.00% 3. Amount and share of business activities referred to in row 3 of Template 1 that are non- taxonomy-eligible according to section 4.28 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 0 0.00% 4. Amount and share of business activities referred to in row 4 of Template 1 that are non- taxonomy-eligible according to section 4.29 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 0 0.00% 5. Amount and share of business activities referred to in row 5 of Template 1 that are non- taxonomy-eligible according to section 4.30 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 0 0.00% 6. Amount and share of business activities referred to in row 6 of Template 1 that are non- taxonomy-eligible according to section 4.31 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 0 0.00% 7. Amount and share of other non-taxonomy-eligible business activities not listed in rows 1-6 above in the denominator of the applicable key performance indicator 17,020 18.28% 8. Total amount and total share of non-taxonomy-eligible business activities in the denominator of the applicable key performance indicator 17,020 18.28%
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289 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. Disclosures Based on Counterparty Key Performance Indicator by Capital Expenditures (KPI Capex) – Green Asset Ratio in Relation to Flow in 2025 Template 1: Activities Related to Nuclear Energy and Natural Gas No. Nuclear Energy Activities 1. The company conducts research, development, demonstration, and deployment of innovative power generation facilities that produce energy through nuclear processes with minimal fuel cycle waste, finances such activities, or has exposure to them. NO 2. The company engages in the construction and safe operation of new nuclear facilities for electricity or industrial heat production, including district heating systems or processes such as hydrogen production, as well as their safety-oriented modernisation using best available technologies, finances such activities, or has exposure to them. NO 3. The company engages in the safe operation of existing nuclear facilities generating electricity or industrial heat, including district heating systems or processes such as hydrogen production from nuclear energy, as well as their safety-oriented modernisation, finances such activities, or has exposure to them. NO Natural Gas Activities 4. The company engages in the construction or operation of power generation facilities using gaseous fossil fuels, finances such activities, or has exposure to them. YES 5. The company engages in the construction, modernisation, and operation of cogeneration plants producing heat/cooling and electricity using gaseous fossil fuels, finances such activities, or has exposure to them. YES 6. The company engages in the construction, modernisation, and operation of heat production facilities generating thermal/cooling energy using gaseous fossil fuels, finances such activities, or has exposure to them. YES
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290 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. Template 2: Taxonomy-Aligned Business Activities (Denominator) [Mn PLN] No. Type of Business Activity Amount and Share CCM + CCA Climate Change Mitigation (CCM) Climate Change Adaptation (CCA) Amount % Amount % Amount % 1. Amount and share of taxonomy-aligned business activities referred to in section 4.26 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 0 0.00% 0 0.00% 0 0.00% 2. Amount and share of taxonomy-aligned business activities referred to in section 4.27 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 0 0.00% 0 0.00% 0 0.00% 3. Amount and share of taxonomy-aligned business activities referred to in section 4.28 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 0 0.00% 0 0.00% 0 0.00% 4. Amount and share of taxonomy-aligned business activities referred to in section 4.29 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 0 0.00% 0 0.00% 0 0.00% 5. Amount and share of taxonomy-aligned business activities referred to in section 4.30 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 0 0.00% 0 0.00% 0 0.00% 6. Amount and share of taxonomy-aligned business activities referred to in section 4.31 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 0 0.00% 0 0.00% 0 0.00% 7. Amount and share of other taxonomy-aligned business activities not listed in rows 1-6 above in the denominator of the applicable key performance indicator 1,234 1.32% 1,228 1.32% 6 0.01% 8. Total applicable key performance indicator 1,234 1.33% 1,228 1.32% 6 0.01%
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291 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. Template 3: Taxonomy-Aligned Business Activities (Numerator) [Mn PLN] No. Type of Business Activity Amount and Share (CCM+CCA) Climate Change Mitigation (CCM) Climate Change Adaptation (CCA) Amount % Amount % Amount % 1. Amount and share of taxonomy-aligned business activities referred to in section 4.26 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the numerator of the applicable key performance indicator 0 0.00% 0 0.00% 0 0.00% 2. Amount and share of taxonomy-aligned business activities referred to in section 4.27 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the numerator of the applicable key performance indicator 0 0.00% 0 0.00% 0 0.00% 3. Amount and share of taxonomy-aligned business activities referred to in section 4.28 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the numerator of the applicable key performance indicator 0 0.00% 0 0.00% 0 0.00% 4. Amount and share of taxonomy-aligned business activities referred to in section 4.29 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the numerator of the applicable key performance indicator 0 0.01% 0 0.01% 0 0.00% 5. Amount and share of taxonomy-aligned business activities referred to in section 4.30 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the numerator of the applicable key performance indicator 0 0.00% 0 0.00% 0 0.00% 6. Amount and share of taxonomy-aligned business activities referred to in section 4.31 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the numerator of the applicable key performance indicator 0 0.00% 0 0.00% 0 0.00% 7. Amount and share of other taxonomy-aligned business activities not listed in rows 1-6 above in the numerator of the applicable key performance indicator 1,234 99.99% 1,228 99.54% 6 0.45% 8. Total amount and total share of taxonomy-aligned business activities in the numerator of the applicable key performance indicator 1,234 100.00% 1,228 99.55% 6 0.45%
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292 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. Template 4: Taxonomy-Eligible but Not Taxonomy-Aligned Business Activities [Mn PLN] No. Type of Business Activity Amount and Share (CCM+CCA) Climate Change Mitigation (CCM) Climate Change Adaptation (CCA) Amount % Amount % Amount % 1. Amount and share of taxonomy-eligible but not taxonomy-aligned business activities referred to in section 4.26 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 0 0.00% 0 0.00% 0 0.00% 2. Amount and share of taxonomy-eligible but not taxonomy-aligned business activities referred to in section 4.27 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 0 0.00% 0 0.00% 0 0.00% 3. Amount and share of taxonomy-eligible but not taxonomy-aligned business activities referred to in section 4.28 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 0 0.00% 0 0.00% 0 0.00% 4. Amount and share of taxonomy-eligible but not taxonomy-aligned business activities referred to in section 4.29 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 16 0.02% 16 0.02% 0 0.00% 5. Amount and share of taxonomy-eligible but not taxonomy-aligned business activities referred to in section 4.30 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 4 0.00% 4 0.00% 0 0.00% 6. Amount and share of taxonomy-eligible but not taxonomy-aligned business activities referred to in section 4.31 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 2 0.00% 2 0.00% 0 0.00% 7. Amount and share of other taxonomy-eligible but not taxonomy-aligned business activities not listed in rows 1-6 above in the denominator of the applicable key performance indicator 10,008 10.75% 10,004 10.74% 3 0.00% 8. Total amount and total share of taxonomy-eligible but not taxonomy-aligned business activities in the denominator of the applicable key performance indicator 10,030 10.77% 10,027 10.77% 3 0.00%
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293 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. Template 5: Non-Taxonomy-Eligible Business Activities [Mn PLN] No. Type of Business Activity Amount Percentage Share 1. Amount and share of business activities referred to in row 1 of Template 1 that are non- taxonomy-eligible according to section 4.26 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 0 0.00% 2. Amount and share of business activities referred to in row 2 of Template 1 that are non- taxonomy-eligible according to section 4.27 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 0 0.00% 3. Amount and share of business activities referred to in row 3 of Template 1 that are non- taxonomy-eligible according to section 4.28 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 0 0.00% 4. Amount and share of business activities referred to in row 4 of Template 1 that are non- taxonomy-eligible according to section 4.29 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 0 0.00% 5. Amount and share of business activities referred to in row 5 of Template 1 that are non- taxonomy-eligible according to section 4.30 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 0 0.00% 6. Amount and share of business activities referred to in row 6 of Template 1 that are non- taxonomy-eligible according to section 4.31 of Annexes I and II to Delegated Regulation (EU) 2021/2139 in the denominator of the applicable key performance indicator 0 0.00% 7. Amount and share of other non-taxonomy-eligible business activities not listed in rows 1-6 above in the denominator of the applicable key performance indicator 16,296 17.50% 8. Total amount and total share of non-taxonomy-eligible business activities in the denominator of the applicable key performance indicator 16,296 17.50%
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294 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. 13.3 Information relating to social matters 13.3.1 Own workforce [ESRS S1] More than 90% (92.3%) of the Pekao Group’s employees are employed by the Bank. It is the Bank, as the parent company, that plays a leading role in setting standards and establishing practices in the area of workforce management across the organisation. The impacts relating to own workforce that are considered material at the Bank translate into the other companies in the Group. For this reason, we base the description of workforce matters primarily on information relating to persons employed by the parent company. 13.3.1.1 Managing impacts, risks and opportunities [SBM-3] Social matters, including workforce matters, have a special place in the Strategy. We place a strong emphasis on aspects related to inclusiveness in the structure of management employment and pay equality. Our employees’ engagement and their identification with the organisation, which we want to develop in line with our redefined mission and vision , remain an equally important area for us. In order to achieve these assumptions, we need a strong and stable organisational culture, which we have decided to str engthen with new values. To the existing values: PROSTO (STRAIGHTFORWARDLY), RAZEM (TOGETHER), ODWAŻNIE (BOLDLY) and ODPOWIEDZIALNIE (RESPONSIBLY), we have therefore added: Z DETERMINACJĄ (WITH DETERMINATION), OTWARCIE (OPENLY) and UCZCIWIE (HONESTLY), the reby indicating the applicable standards of cooperation, the preferred style of operation and the desired attitudes. We are ambitious to create more than a workplace – to build a community in which everyone can realise their potential and ambitions, supported by safe and stable working conditions that foster higher motivation, satisfaction and employee engagement. To that end, we apply relevant internal regulations and implement measures tailored by topic and/or target group, which support our employees in achieving the goals they set for themselves. In doing so, we seek not only to retain our people, but also to attract talented candidates from the market – collaboration-oriented, entrepreneurial and innovative – who will strengthen the organisation in delivering its strategic objectives. Our approach to workforce matters is recognised in the market, placing Bank Pekao among the country’s best employers. This is evidenced, among other things, by the Top Employer 2025 title, which we have received for the fifteenth time. We confirmed the effectiveness of our human resources management practices in building an organisation where care for employees, their development and wellbeing are paramount, by ranking as a Bank among the top ten out of nearly eighty awarded companies. Our own workforce comprises: • employees within the Bank’s sphere of influence: individuals employed under employment contracts (both fixed-term and indefinite); • (both fixed-term and indefinite); • non-employees: individuals providing services under cooperation agreements (B2B) or contracts. The identified material impacts relating to our own employees mainly apply to employees engaged under employment contracts and to individuals associated with the Bank under civil law contracts (contracts for specific work and contracts of mandate); these impacts are described in chapter [IRO-1]. The identified material impacts relating to our own employees are described in chapter Our internal regulations – policies, procedures, rules and regulations – comply with generally applicable law, the principle of equality before the law and non -discrimination in employment. These regulations mainly apply to employees engaged under employment contracts and to individuals associated with the Bank under civil law contracts (contracts for specific work and contracts of mandate). Their purpose is to support the proper management of the organisation, as well as the management of material impacts, risks and opportunities relating to own workforce. In the case of individuals who are not employees of the undertaking but form part of its own workforce, we apply the general provisions of law. In addition, regulatory matters relating to the group of non -employees who form part of our own workforce are presented in the disclosure that directly concerns them. Human rights in the context of the Pekao Group Code of Conduct As an institution of public trust, we comply with applicable law and supervisory recommendations, applying best market practice and recognised service standards. We do not tolerate or accept any form of violence or human rights violations, and every employee is responsible for maintaining a supportive and respectful working environment, consistent with our core values and adopted principles of ethical conduct. We are committed to respecting human rights and human dignity in every aspect of our operations, as reflected, among other things, in the Pekao Group Code of Conduct (hereinafter: the Code of Conduct ). The document broadly presents a specific framework of conduct that we consider ethical. It also addresses human rights issues
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295 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. within our organization but does not in itself constitute a policy within the meaning of minimum disclosure requirements (MDR-P). In the Code of Conduct, we set out the key values and principles that apply across the Pekao Group in all areas of its operations, as well as within its organisational culture and value system. The document states explicitly that We respect and protect human rights in accordance with legal requirements and international standards. In the Code of Conduct, we set out the key values and principles that apply across the Pekao Group in all areas of its operations, as well as within its organisational culture and value system. The document states explicitly that we respect and protect human rights in accordance with legal requirements and international standards. Further information on the Pekao Group Code of Conduct is provided in chapter [ESRS G1]. We have also embedded social and environmental standards in our [procurement regulations] . In this way, we promote these standards among our intermediaries, counterparties and suppliers as part of measures designed to ensure an ethical, fair and sustainable value chain. Moreover, as a member of the United Nations Global Compact, we fully align ourselves with the 10 Global Compact Principles, supporting sustainable development initiatives, including those relating to respect for human rights and improvements in working conditions. The 10 Global Compact Principles: 1.Support and respect the protection of internationally proclaimed human rights 2.Ensure that your company does not participate in any way in the violation of human rights 3.Respect the freedom of association 4.Eliminate all forms of forced or compulsory labour 5.Eradicate all forms of child labour 6.Effectively combat discrimination in the workplace 7.Take a preventive approach to environmental protection 8.Develop initiatives and practices aimed at promoting environmental responsibility 9.Encourage the development and diffusion of environmentally friendly technologies 10. Work against corruption in all its forms, including extortion and bribery To systematise processes and monitoring mechanisms for potential breaches of the principles of the Global Compact initiative and the OECD Guidelines for Multinational Enterprises, in September 2025 we implemented the Procedure for the disclosure of information by Bank Pekao S.A. on compliance with the principles of the United Nations Global Compact initiative (Order No. C/20/2025 of 19.09.2025). Under the adopted regulation, the review and assessment of compliance with the above principles will be conducted on an annual reporting cycle, based on selected indicators and data submitted by the Bank’s organisational units. By implementing this Procedure, we meet the requirements arising from R egulation (EU) 2019/2088 of the European Parliament and of the Council of 27 November 2019 on sustainability-related disclosures in the financial services sector, i.e. the SFDR (Sustainable Finance Disclosure Regulation). Secure employment conditions As an employer, we focus on employment stability, as evidenced, among other things, by a low employee turnover rate of 10.52% and an average length of service of 15 years for individuals employed under employment contracts, excluding individuals employed at 0.1 FTE (as at 31.12.2025). Long -term cooperation reflects a high level of employee satisfaction and is underpinned by lasting relationships built on secure employment conditions through appropriate internal regulations applied at the Bank. The primary document governing work organisation and workplace rules at the Bank is the Work Regulations (hereinafter: the Regulations). This constitutes an internal source of labour law; it sets out the rights and obligations of the employer and of employees employed under an employment contract, regardless of the nature of their duties or the position held. Every newly hired employee is required to confirm that they have read the document. We subject the Regulations to periodic reviews and, where necessary, update their provisions in agreement with trade union organisations and in line with generally applicable law. For termination of employment, we apply notice periods resulting from the Labour Code or directly from employment contracts, which ensure at least the same benefits as those provided for under labour law. In 2025, we predominantly applied one - or three-month notice periods. In addition, we conduct consultations regarding termination of employment contracts in accordance with applicable national regulations.
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296 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. For termination of employment, we apply notice periods resulting from the Labour Code or directly from employment contracts, which ensure at least the same benefits as those provided for under labour law. In 2025, we predominantly applied one - or three-month notice periods. In addition, we conduct consultations regarding termination of employment contracts in accordance with applicable national regulations. Employees’ working time and work–life balance We enable our employees to work outside the employer’s premises on the terms set out in detail in the Agreement on the rules for performing remote work, concluded between the Bank and the Trade Unions on the basis of the amended provisions of the Labour Code . This Agreement sets out, in detail, both the organisation of remote work and the corresponding rights and obligations of the employer and the employee. In addition, taking account of employees’ expectations, we consider on a case- by-case basis requests relating to non-standard working hours or changes to the location from which remote work is performed, demonstrating a flexible approach to their needs. Employees raising children under the age of 8 are also able to work remotely to a greater extent. Adequate pay We treat our employees fairly and ensure adequate pay through a consistent remuneration system, including non-pay benefits. The remuneration strategy embedded in the applicable internal regulations, which supports the protection and strengthening of the Bank’s reputation is the key element of this system. The principal regulation is the Remuneration Policy of Bank Polska Kasa Opieki Spółka Akcyjna (hereinafter: the Remuneration Policy), available on the intranet. This Policy reflects the Bank’s mission and values in its approach to remuneration systems, and in particular: • The principal regulation is the Remuneration Policy of Bank Polska Kasa Opieki Spółka Akcyjna (hereinafter: the Remuneration Policy), available on the intranet. This Policy reflects the Bank’s mission and values in its approach to remuneration systems, and in particular: • defines the pillars of remuneration and the management of the structure, corporate processes and organisational processes; • confirms the requirement that adopted remuneration systems comply with generally applicable law . The remuneration structure provides a direct link between remuneration and performance by safeguarding financial stability and setting variable remuneration levels appropriate to the Bank’s financial capacity; establishing performance -based remuneration caps; and designing incentive schemes that specify minimum performance levels for the Bank below which no bonus is paid. Variable remuneration covers all remuneration components whose award is conditional on performance, and its payment depends directly on i ndividual achievements, a compliance assessment, and the results achieved by the Bank and adjusted for risk. A permanent element of remuneration is base salary, which we pay for the position held and the scope of duties and responsibilities. This remuneration reflects both the experience, skills and competences required for a given position and th e level of commi tment to achieving the Bank’s results. Since fixed remuneration represents a substantial part of total remuneration, we are able to pursue a flexible remuneration policy. The Bank monitors market trends regarding forms of remuneration and pay levels offered in the market to ensure the competitiveness of remuneration structures, as well as their transparency and an effective and fair remuneration system. Decisions concerning the remuneration system are taken based on information on market trends in fixed remuneration as well as incentive schemes. We obtain these data from advisory firms analysing the financial sector. We also prepare an annual report on the operation of the remuneration policy, which consists of two internal regulations: the Remuneration Policy of Bank Polska Kasa Opieki Spółka Akcyjna and the Remuneration Policy of the Members of the Supervisory Board and the Management Board of Bank Polska Kasa Opieki Spółka Akcyjna. The annual report assessing the operation of the remuneration policy is prepared by the Nomination and Remuneration Committee based on the report on the operation of the remuneration policy for a given year submitted by the Bank’s Management Board. Subsequently, following approval of the report assessing the operation of the remuneration policy for a given year by the Bank’s Supervisory Board, it is presented to the General Meeting of Shareholders (GMS) in order to assess whether the Bank’s remuneration policy supports the Bank’s development and the security of its operations. Social dialogue ; freedom of association ; employee councils; employees’ rights to information, consultation and participation; collective bargaining, including the percentage of employees covered by collective agreements We maintain ongoing communication with our employees and respect their right to establish and join trade unions, conducting open and transparent dialogue with all trade union organisations operating at the Bank, as well as with the Employee Council. In relations with trade unions, we are guided by the principle of good faith and by the pursuit of optimal solutions in the field o f collective labour law, taking into account the interests of both employees and the Bank.
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297 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. The principles of the Bank’s HR and pay policy, including employees’ remuneration conditions, are governed by the Company Collective Labour Agreement (Zakładowy Układ Zbiorowy Pracy – ZUZP; hereinafter: the ZUZP). The document contains a detailed description of all remuneration components and work -related benefits, such as base salary, quarterly bonuses, a motivational award and a holiday bonus. It also sets out the rules for remuneration for overtime work and governs other benefits, including retirement, disability and death severance payments, as well as compensation for accidents at work. Amendments to the ZUZP are introduced through negotiations with the trade union organisations that are its Parties, and each change is documented in an additional protocol, which is registered by the Regional Labour Inspector. The ZUZP is available to all Bank employees on the intranet website, while newly hired individuals receive information about the ZUZP in their employment contract. In 2025, the percentage of the Bank’s employees covered by a collective agreement amounted to 78.9% (versus 77% in 2024). No collective agreements were concluded in the Pekao Group’s subsidiaries. Gender equality, equal pay for work of equal value, and workplace diversity The Bank has in place a Gender Equality and Diversity Policy applicable to the Bank’s employees, including members of the Supervisory Board, members of the Management Board and key functions holders at Bank Polska Kasa Opieki Spółka Akcyjna (hereinafter: the Gender Equality and Diversity Policy), through which we promote equal treatment and prevent discrimination in the workplace. In line with this policy, we ensure that Bank employees can manage their careers effectively, achieve success and have their work assessed based on individual performance, regardless of gender. In addition, as part of our integration commitments and actions supporting employee groups particularly exposed to risk, Chapter III of the Gender Equality and Diversity Policy includes provisions on supporting people returning to work after a prolonged absence, for example after parental leave. The Policy incorporates the Bank’s diversity strategy, which emphasises the delivery of tasks by our employees to the highest standards, the application of objective, merit -based criteria, and the inclusion of diversity considerations when assessing competencies and selecting persons to serve on the Supervisory Board, the Management Board and in key functions at the Bank. Furthermore, we apply the guidelines on gender equality in all HR processes. In practice, this means that we: • strive to ensure representation of both genders in internal and external recruitment processes by preparing shortlists for a given role that include at least one candidate of each gender; • strive to ensure representation of both genders in internal and external recruitment processes by preparing shortlists for a given role that include at least one candidate of each gender; • inform our external partners in training and recruitment (including employment agencies, temporary work agencies, job placement/intermediation agencies, head-hunters and labour offices) about the scope of the Gender Equality and Diversity Policy implemented at the Bank and our application of its guidelines; • inform our external partners in training and recruitment (including employment agencies, temporary work agencies, job placement/intermediation agencies, head-hunters and labour offices) about the scope of the Gender Equality and Diversity Policy implemented at the Bank and our application of its guidelines; • ensure equal treatment in pay and fringe benefits regardless of gender, in accordance with the Remuneration Policy of Bank Polska Kasa Opieki Spółka Akcyjna and generally applicable law; • promote employees’ work–life balance by making available procedurally regulated solutions such as: - flexible working arrangements (part -time employment, etc.) in compliance with applicable laws, in particular labour and social security regulations, as well as internal rules, while taking account of business and organisational requirements and needs; - support for employees during and after long -term absence (e.g. parental leave, unpaid leave, illness or other extended breaks from work) through the possibility of maintaining ongoing contact with the Bank during absence and facilitating a return to work in line with applicable laws (in particular labour and social security regulations) and the Bank’s internal rules; - educational programmes on gender equality delivered, among other things, as part of onboarding programmes and other forms of training, also addressed to managers – for example the e -learning module “ Equal treatment in employment ”, aimed at all managers. Applying the guidelines set out in the Gender Equality and Diversity Policy also includes monitoring the remuneration structure. In 2025, the unadjusted gender pay gap at the Bank amounted to 28.50%, which represents a decrease compared to 30.99% in 2024. The adjusted gap, calculated as a weighted average for employee sub -groups taking into account grade levels, job families and the division in which a given employee is employed, amounted to 0.95% in the same reporting period (vs. 2.18% in 2024). The results of this monitoring support decisions on verifying pay levels for work of equal value, in order to maintain balance and fairness in this area as well.
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298 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. We seek to maintain gender balance among managers covered by succession plans, where senior management includes members of the Bank’s Management Board and Directors of Divisions, Centres and Departments reporting directly to the Management Board. We provide equal opportunities for promotion and professional development regardless of gender, which supports the creation of a balanced and inclusive working environment. We also run a range of development initiatives, support diversity and encourage employees to put forward their own ideas and actively engage with the projects we have launched – so that they have the conditions to develop their potential and feel recognised. For managers in particular, we deliver training based on the Insight Discovery methodology to raise awareness of diversity management. These workshops focus on recognising employees’ diverse needs and identifying effective motivation methods depending on age, experience, skills and competencies. Employee training and skills development Education and competence -building for Bank employees are important to us. We recognise that professional development opportunities have a positive impact – on the one hand – on employees’ sense of belonging to the organisation and – on the other – on the delivery of tasks necessary to achieve the organisation’s goals. This is why we offer a diverse range of educational programmes for Bank employees, including: • local training and general development webinars; • international training and programmes; • mentoring and group/team coaching; • individual internal and external coaching; • certification training, e.g. CFA/ACCA/CIA. The processes relating to employees’ participation in specific forms of professional upskilling are set out in the Training, Professional Qualifications and Development Activities Policy for employees of Bank Pekao S.A. , which addresses in detail: • procedures for classroom-based group training, remote training and e-learning; • procedures for individual domestic training, certification courses, language courses, postgraduate studies and MBA programmes; • training needs assessment. Occupational health and safety Another fundamental and equally important issue for us is occupational health and safety (OHS). It underpins employees’ comfort and the quality of their work. Accordingly, using available technologies appropriately and in line with regulations, we educate employees in this area and inform them about all aspects of the working environment. OHS activities are governed by the Regulation of the Council of Ministers of 2 September 1997 on the occupational health and safety service, which specifies in detail the qualifications required for employees of the OHS Office and the scope of their duties. We implement the provisions of this Regulation, among other things, through systematic inspections of working conditions, taking into acc ount how processes are organised and how they affect working conditions, the technical condition of premises, and submitted requests relating to OHS requirements. We have two key internal OHS regulations: the Occupational Health and Safety and Fire Protection Rules and the Bank Pekao S.A. Group OHS Policy. These documents are developed and implemented by the OHS Office within the Logistics and Cash Operations Department. Substantive oversight of the Office’s activities is exercised by the Vice -President of the Bank’s Management Board responsible for the Br anch Distribution, Private Banking and Operations Division. Certain issues in this area are also governed by the Work Regulations. These documents serve as a baseline when developing internal instructions and procedures addressed to employees. Measures to prevent violence and harassment in the workplace In workforce matters, including those relating to violence and harassment in the workplace, we apply the Procedure for preventing mobbing, discrimination, harassment or other undesirable behaviour at Bank Polska Kasa Opieki Spółka Akcyjna . The provisions of this document express our zero tolerance for any manifestations of discrimination and our commitment to counteracting them; they also describe mechanisms for handling employee complaints about unethical practices, including violence and harassment. More information about this procedure and the mechanisms themselves is provided in chapter [ESRS G1].
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299 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. Minimum disclosure requirements for policies relating to own workforce: Procedures for engaging with own workforce and employee representatives on impacts [S1-2] The organisational culture we foster is built on cooperation, openness to diversity and attitudes aligned with the values updated in 2025: PROSTO (STRAIGHTFORWARDLY), RAZEM (TOGETHER), ODWAŻNIE (BOLDLY) and ODPOWIEDZIALNIE (RESPONSIBLY), joined by Z DETERM INACJĄ (WITH DETERMINATION), OTWARCIE (OPENLY) and UCZCIWIE (HONESTLY). We are building a place where leaders inspire, employees have genuine influence, and the organisation responds flexibly to change. To strengthen a culture of dialogue and build an environment grounded in mutual trust, we focus on initiatives that help us better understand the needs and expectations of our employees. Accordingly: 1. In Q4 2025, we prepared to conduct the Organisational Health Survey, which started on 13 January 2026 and will run until 5 February 2026. It covers all Bank employees (employed under employment contracts). By analysing the results, we aim to understand: • overall organisational health, i.e. the organisation’s ability to deliver its objectives and vision; • nine health elements indicating whether actions taken in the organisation deliver the intended outcomes and reflecting how employees perceive organisational effectiveness in key areas; • several dozen managerial practices, i.e. behaviours that “drive” the health elements; • ten dimensions of employees’ individual experience, indicating how management practices affect their energy and productivity; • psychophysical condition across two dimensions: holistic health and burnout. POLICY NAME IRO APPROVING BODY SCOPE/EXCLUSIONS Pekao Group Code of Conduct Human rights, including labour rights Management Board of the Bank Group Work Regulations of Bank Polska Kasa Opieki Spółka Akcyjna Stable employment conditions President of the Bank’s Management Board Bank Remuneration Policy of Bank Polska Kasa Opieki Spółka Akcyjna Remuneration and payment rules; gender pay gap Supervisory Board Bank Agreement on the rules for performing remote work, setting out the organisation and order of the remote work process and the related rights and obligations of the Bank and employees Employees’ rights; consideration of employees’ views; work– life balance Director of the Human Resources Division (currently: People, Operations and CX Division) Bank People, Operations and CX Division) Dialogue with employees; freedom of association; consideration of employees’ views Management Board of the Bank Bank Gender Equality and Diversity Policy applicable to the Bank’s employees, including members of the Supervisory Board, members of the Management Board and persons performing key functions at Bank Polska Kasa Opieki Spółka Akcyjna Creating a supportive workplace and preventing discrimination Supervisory Board Bank Training, Professional Qualifications and Development Activities Policy for employees of Bank Pekao S.A. Access to training and skills development; creating a supportive workplace and preventing discrimination Management Board of the Bank Bank Occupational Health and Safety and Fire Protection Rules and the Bank Pekao S.A. Group OHS Policy in terms of occupational health and safety Ergonomic workplaces and employees’ mental health; workplace accidents Supervisory Board Bank Procedure for preventing mobbing, discrimination, harassment or other undesirable behaviour at Bank Polska Kasa Opieki Spółka Akcyjna Creating a supportive workplace and preventing discrimination; preventing violence and harassment President of the Bank’s Management Board Bank Whistleblowing procedure in Bank Pekao S.A. Preventing violence and harassment Management Board of the Bank Bank Anti-corruption policy in the Bank Pekao S.A. Group Creating a supportive workplace; preventing discrimination; preventing violence Management Board of the Bank Group
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300 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. 2. We take care of health: Based on the results of the 2024 Employee Engagement and Satisfaction Survey and the Psychophysical Condition Survey, and the conclusions drawn from them, our organisational culture activities in 2025 also focused on mental health. In 2025 we launched two programmes: • For all Bank employees: the Razem w dobrostanie (Together in wellbeing) programme, under which we delivered a series of psychoeducation and prevention initiatives on mental health and resilience. The aim is to strengthen employees’ wellbeing and effectiveness and support healthy functioning in the workplace environment. As part of the programme, we held psychoeducation webinars on: - Mental health and its pillars. How to take care of inner balance and build resources for wellbeing? - How not to lose yourself at work. Stress, burnout and inner balance. - Neurodiversity. How to harness the potential of working in a neurodiverse team? - Pause. How to break the spiral of fatigue and declining energy? - We also delivered an educational series Neuromoc (Neuropower) – support for the nervous system (microlearning). • For HR Business Partners (HRBPs) and Leaders: the “Notice. Respond. Support. Mental Health Navigator” programme – a series of workshops focused on developing leaders’ and teams’ competencies. The aim was to equip participants with professional intervention tools and develop their ability to recognise and respond to workplace mental health crises. During the workshops, participants learned response scenarios for fifteen of the most common mental health risks at work. This programme addressed current needs in the areas of social fairness and employees’ health and safety. Delivering this initiative supported our efforts to build lasting organisational capability in managing employee wellbeing. Almost 1,200 participants attended the kick-off meetings for Mental Health Navigator and eight workshop sessions (“Face to Face” and “Eyes Wide Open”) held in Q2 and Q3 2025. 3. We delivered additional initiatives supporting a culture of dialogue with employees: • Values in dialogue with employees communication campaign – a key educational initiative that helped bring the Bank’s values closer to employees in a more direct way, based on concrete examples. The campaign also included employee activation elements by inviting them to take part in quizzes • Town hall (26 May 2025) – an event in the form of open communication with employees about key aspects of organisational life, including its values, attended by members of the Management Board and employees onsite and online. We ensured two-way communication (questions from the audience and an active power chat for remote participants). • Rodzina na bank (Family, you can bank on it) initiative – events for employees and their children organised on the occasion of Family Day and Children’s Day. In 2025, we expanded the initiative to multiple locations: three main events in Warsaw, Gdańsk and Kraków, and local events in nearly 50 Bank branches across Poland. After the events, employees could share feedback via a dedicated survey. • Prosto po imieniu (Say it by Name) campaign – promoting direct and open communication and encouraging employees to practise it day to day. Members of the Management Board and volunteering Bank employees took part. • An additional competition focused on values at the summer Pekao Cup 2025, as an example of employee dialogue during company events. In 2025, we focused on actions supporting the process of building an aspirational organisational culture, identified as one o f the directions of the Bank’s new strategy. We intensified efforts to promote the new catalogue of values and embed them in day-to-day organisational life – hence, among other things, the “Values in dialogue with employees” campaign as an open form of communication facilitating employee dialogue and understanding of value-driven attitudes; the organisation of “Rodzina na bank” events in the spirit of the value RAZEM (TOGETHER); and integrating values into HR processes such as the annual performance review process. In 2026, we plan to: • conduct the Organisational Health Index (OHI) survey – the survey focuses on aspects of organisational culture and health and delivers an overall assessment of the organisation’s ability to implement its strategy effectively. This assessment is based on employees’ experiences – their feedback makes it possible to identify strengths and areas for improvement in the health elements and key management practices. The survey includes a module on individual employee experiences. Within that module, the eNPS indicator serves as a proxy measure of employee engagement;
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301 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. • run another edition of the Children’s Day and Family Day event – based on the conclusions from the surveys carried out after the events held in 2025 and in line with employees’ expectations, we want to again organise meetings in multiple locations, with the involvement of our branches across the country; • organise an event dedicated to promoting our values (as a continuation of the process of embedding them) and to building customer experience – a full-day event for all Bank employees (registration required), during which we will invite active participation in lectures, presentations and workshops delivered by external guests and the Bank’s experts; • promote our values at sporting events ( Pekao Cup 2026 ) – we know from the survey conducted after the summer competitions in 2025 that the formula of promoting values through a specially designed competition was received very positively by participants; • run competitions in the form of challenges on the Bank’s internal platform – recognising employees and teams who, through specific actions, delivered projects and initiatives, exemplify attitudes consistent with the Bank’s values; • organise a series of managers’ meetings with their teams, during which they will address the topic of values and how to translate specific behaviours and attitudes into day-to-day work. The Bank’s cooperation with trade unions is described in the chapter Policies related to own workforce resources of this Report. The person operationally responsible for ensuring that this cooperation takes place and that its outcomes influence the Bank’s approach is the Director of the Head Office HR Business Partners and Employee Relations Office. The effectivenes s of cooperation with trade union organisations is assessed by: agreements signed with trade union organisations in the area of bargaining and n egotiations arising from generally applicable labour law as well as internal labour law, and the absence of collective disputes referred to in the Act of 23 May 1991 on the Resolution of Collective Disputes with representative organisations in the Bank. Remediation processes for negative impacts and channels for raising concerns by own workforce [S1-3] We fully respect employees’ rights to freedom of association, information and consultation. There are nine trade union organisations operating in the Bank, with 53.13% of employees unionised (as of 31 December 2025). Under labour law, trade union organisations conduct negotiations and bargaining with the Bank on matters related to internal workplace labour law, representing all employees engaged under employment contracts. Also in individual employm ent matters, trade union organisations represent their memb ers or employees who ask them to represent them vis -à-vis the employer. Trade union organisations have dedicated pages available to them on the intranet to inform employees about important workforce matters, including the course of the dialogue conducted with the employer. With regard to the right to information and consultation – under the provisions of the Act of 7 April 2006 on Informing Employees and Consulting Them – employees were also represented by the Employee Council of Bank Pekao S.A., whose term ended on 21 February 2025. More information about the Employee Council is provided in section [S1-1]. Our approach to preventing negative impacts and ensuring remedy where such impacts occur is presented primarily in the provisions of two procedures: the Procedure for Preventing Mobbing, Discrimination, Harassment or Other Undesirable Behaviour at Bank Polska Kasa Opieki Spółka Akcyjna , and the Procedure for Reporting Breaches (Whistleblowing) at Bank Pekao S.A. These regulations indicate the channels established within the organisation that enable employees to report irregularities an d describe how reports are handled after receipt, verification and consideration. The procedures also contain a detailed description of the rules for protecting reporting persons and whistleblowers against retaliatory actions. More information on the procedures and their scope is provided in section [ESRS G1]. We do not carry out structured assessments of the level of employees’ trust in the processes and tools (channels) for raising concerns or needs, or in the way the organisation responds to them. However, each employee is required to familiarise themselves with the above procedures and confirm this in a dedicated statement. In addition, with respect to the Procedure for Reporting Breaches (Whistleblowing), training is provided for new employees and periodic refresher training is delivered to all employees. Actions in relation to material impacts on own workforce and approaches to managing material risks and leveraging material opportunities, and the effectiveness of those actions [S1-4] The actions we take as part of managing material impacts on our own workforce are aligned with the applicable regulations on preventing mobbing and corruption and on reporting breaches (whistleblowing), which we describe in detail in [ESRS G1] on corporate governance.
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302 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. In our organisation, the duty to respect human rights rests with all employees of the Pekao Group regardless of role, length of service, place of work or working-time arrangement. To underline this, we: • implement and apply internal regulations to shape a working environment free from practices that infringe human rights; • build an organisational culture based on open communication, trust and mutual respect; we maintain ongoing communication with stakeholders through, among other things, business and internal meetings (e.g. councils, workshops, committees), training, employe e surveys, reports, social media interactions – enabling us to optimise our actions with respect to human rights; • ensure appropriate working conditions by properly equipping office space, respecting the possibility of remote work; we promote work–life balance, employee development and wellbeing. To support employees’ comfort at work and wellbeing, we offer solutions such as remote work, flexible working hours or part - time employment. In this way, we respect individual preferences regarding how and where work is performed and express our support for maintaining an appropriate balance between employees’ professional and private lives. We also organise a number of initiatives related to mental health, physical activity and health education. Dialogue with employees is important to us; therefore, we communicate with them on an ongoing basis using internal channels available within the organisation, such as the intranet, chats and discussion forums. We also organise on -site and online meetings with the Management Board, during which we can exchange comments and insights directly in Q&A sessions. We support employees’ right to establish and join trade unions, conducting an open and transparent dialogue with all trade union organisations operating in the Bank as well as with the Employee Council. In 2025, as in previous years, we cooperated with trade union organisations in the area of bargaining, negotiations and consultations, on the terms set out in labour law, respecting the interests of both parties and the principles of social dialogue. In relations with trade unions, we act in good faith and strive to develop optimal solutions in the area of collective labour law, taking into account the interests of both emplo yees and the Bank In 2025, a total of 35 one- or two-day meetings were held, mainly concerning: • the level of funds allocated for pay rises in 2025; • agreeing the allocation of the motivational awards fund for the previous year; • agreeing the rules for distributing the bonus fund in individual quarters; • agreeing the spending plan for the Company Social Benefits Fund for the year and amendments to the Company Social Benefits Fund regulations in the area of the benefits system; • meetings with members of the Bank’s Management Board; • presenting information on the survey of employee engagement and psychophysical resilience; • bargaining under Article 241² of the Labour Code; including employees engaged under managerial contracts (employment contracts) in the Company Collective Labour Agreement (ZUZP); • consultation on the intention to carry out collective redundancies; • presenting the Voluntary Redundancy Programme launched in 2025. In addition, on 19 November 2025, following bargaining, the Bank and four trade union organisations that are parties to the ZUZP signed a Supplementary Protocol to the ZUZP introducing a quantitative–qualitative bonus scheme for retail network sales staff and Contact Centre sales staff , set out in Appendix 4D to the ZUZP. The Supplementary Protocol was registered by the Regional Labour Inspectorate in Warsaw. At the Bank, we document the course of social dialogue and support communication between trade union organisations and employees by providing dedicated intranet pages. This enables organisations to publish their own bulletins and information on material workforce matters, including the course of dialogue with the employer. Until 21 February 2025, the Employee Council of Bank Pekao S.A. (the “Employee Council”) operated as an independent employee representation body. The rules for its election, its purpose and its powers are set out in the Act of 7 April 2006 on Informing Employees and Consulting Them. The Council comprises 7 members elected in universal elections in which all Bank employees may stand. Under the above Act, the Bank, as an employer, informs the Council about: • its activities and economic situation and anticipated changes in this respect; • the status, structure and anticipated changes in employment and actions aimed at maintaining employment levels;
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303 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. • actions that may cause significant changes in work organisation or the basis of employment. In addition, at the request of the Employee Council, the employer consults the Council on matters specified in the Act. The Employee Council also has an intranet page for publishing information for the Bank’s employees. In 2025, 3 meetings were held with the Employee Council devoted to: • work organisation in connection with implementing a new branch model; • a meeting with representatives of the Retail and Private Banking Division. The Employee Council’s term ended on 21 February 2025. Elections for the next term will be held after the Bank receives a request from employees as required by law. To date, the Bank has not received such a request. We attach importance to education and upskilling of the Bank’s employees. The HR Projects and Organisational Modelling Office is responsible for organising training. We are aware that opportunities for professional development have a positive impact, on the one hand, on employees’ sense of belonging to the organisation and, on the other hand, on the delivery of tasks necessary to achieve its objectives. Hence our diverse offering of educational programmes for Bank employees, which includes: • local training and general development webinars; • international training and programmes; • mentoring and group/team coaching; • individual internal and external coaching; • certification training, e.g. CFA/ACCA/CIA. As part of individual training, we organise workshops and courses in specialist banking knowledge delivered by both internal and external trainers and experts – including moderators, coaches and facilitators. Participation enables employees to develop the competencies necessary to perform their assigned duties effectively. We fully cover the cost of employee participation in individual training to which we refer employees, and we partially reimbur se – or provide via granted training leave – training that employees undertake on their own initiative. At the same time, for individual training that results in additional qualifications, licences or international certificates in which we co -finance participation, we require a training agreement to be concluded between the Bank and the employee. The agreement sets out the parties’ rights and obligations related to the employee’s professional development and the conditions under which employees reimburse tr aining costs. The development of employee skills that we focus on also includes foreign language learning in the form of individual language courses financed fully or partially by the Bank. These courses are aimed primarily at managers and high -potential employees who use a foreign language in their day-to-day duties. We deliver this training in cooperation with language schools with which the Bank has framework agreements. We support employees in upskilling by enabling them, on their own initiative, to undertake postgraduate studies and MBA programmes in fields useful for work at the Bank. This form of support is also available to persons performing a key function in the Ban k as part of their individual career paths. Where necessary, we also provide opportunities to obtain additional qualifications or authorisations required by external regulations. We enable professional development outside Poland through individual training, subject to separate approval of the business trip (flight and accommodation bookings). In 2025, we implemented several development initiatives under programmes and projects such as: • providing access for all Bank employees and Group companies to the LinkedIn Learning platform and ensuring an offer of content; • AI Ambassador Programme; • M365 Ambassador Programme; • Law Academy; • ESG Academy; • MS Office Champions (Mistrzynie i Mistrzowie MS Office); • Executive MBA studies for managerial staff; • Kuźnia Zwinności (Agility Forge); • Banking Sales School;
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304 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. • Menedżerskie Shot’y (Managerial Shots) – a development programme for managerial staff that builds management and leadership competencies. The programme was designed for managers who do not have time for all -day training and receive practical “knowledge in a nutshell” within 45 minutes. In spring 2025, the sixth edition of Managerial Shots was held, with a total of 1,100 managers participating. As part of this edition, we organised ten workshops on the following topics: - Decisions under pressure – how to make good choices in a dynamic environment, - Microcoaching – how to develop employees in everyday situations, - The art of delegation – how to assign tasks and be confident they will be delivered, - Motivation – how and with what to engage employees, - From resistance to engagement – how to manage change effectively, - Managerial authority – building a partnership-based relationship within a team, - Different shades of mobbing and its consequences, - A conversation with an employee who is not delivering tasks, - Critical thinking, - How to be a mentor to your team. In 2025, a further three editions of the programme were delivered, comprising 36 workshops attended by approximately 3.5 thousand managers. • Development Snacks – a series of short thematic workshops focused on a single area of personal and professional skills development, available to all Bank employees. In 2025, another edition of the programme was held, covering 10 workshops on, among other things, teamwork, building mental resilience and future skills. • Mission: Development – a programme for employees in which participants, through hands -on work on real business challenges in cross-organisational teams, discover and develop their competences and potential. In 2025, we continued the programme as part of its second edition, wi th six project teams from different areas of the Bank taking part. Through this programme, we not only support individual development, but also strengthen a culture of cooperation, innovation and accountability for the organisation’s development. • Team Talent DNA – for the first time at the Bank, we launched a development programme based on the CliftonStrengths34 assessment, covering 20 teams and involving 302 tests. The programme is a process consisting of six team workshops and an individual development pathway for managers. • Manager at the Start – we launched the first edition of a development programme designed to support newly appointed Bank managers in making an effective start in the leader role. It combines the provision of essential operational knowledge with the development of key manageri al skills. The first pillar of the programme includes a series of short, recorded webinars on processes, regulations, recruitment and HR matters required for work in a managerial position. These materials help participants quickly navig ate the formal and operational aspects of functioning within the organisation (available on the programme page). The second pillar is a cycle of workshops developing practical leadership competences. The workshop component starts with a joint online worksh op, after which participants are assigned to one of two pathways. The “From Expert to Leader” pathway is intended for people taking up a managerial role for the first time. In turn, the “Leader in Our Organisation” pathway is aimed at experienced managers who are only just starting work at the Bank. The programme enables the conscious shaping of the leader role and a rapid adjustment to organisational realities. As a result, new managers can begin their work with greater confidence and effectiveness. • Within the Sugar Free programme for women, in 2025 we delivered development and educational activities arising from the programme’s strategic objectives. The thematic offering of the programme was continuously expanded and updated and included: development of professional, personal and parental competences delivered through training, workshops and webinars; development programmes (Aware Leader, Excelentni); and development initiatives aimed at promoting and educating on new technologies delivered through webinars, technical tra ining and programmes such as “Closer to Technology” and “emPower Women”. We also successfully delivered two initiatives to raise pro -health awareness among employees: Pink October (4,000 participants) and Blue November (2,200 participants). In addition, we continued the second edition of the Development Programme for Local Female Leaders, building leadership and project competences. Towards the end of the year, we launched the first edition of a mentoring programme, under which 32 mentoring pairs began working together. In total, more than 7,000 women took part in these activities. The planning and delivery of development programmes is primarily handled by the Department of Development Management and Organisational Culture.
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305 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. We also use training as a channel to provide our employees with knowledge on occupational health and safety (OHS). As part of induction training, newly hired employees receive general instruction from representatives of the OHS Service and role - specific instruction from their direct line manager. Refresher training, in turn, is delivered entirely via the e -learning platform, giving employees convenient and flexible access to knowledge resources. The training topics align with the issues indicated in the fra mework programme set out in the Regulation of the Minister of Economy and Labour on training in the field of occupational health and safety. The Bank’s OHS Service monitors compliance with occupational health and safety regulations and rules and continuously provides information on occupational hazards and methods of eliminating them. It also plays an important role in assessing occupational risk to ensure employees are effectively protected against hazards present in the work environment. We have a fully digitised occupational risk assessment process, with all stages carried out via a dedicated application. We also build employee safety awareness through regular first -aid training sessions delivered by qualified paramedics. Preventive health examinations are carried out in cooperation with an occupational medicine physician, with a view to optimising the scope of such examinations. To communicate the most important information, we use a dedicated intranet page where we publish applicable rules, instructions and guidelines. We also enable employees to report potential hazards to a dedicated OHS mailbox, unless they prefer to contact the Bank’s OHS Service representatives directly. Our organisation also has an OHS Committee comprising representatives of the Bank, including the physician providing preventive care to employees, representatives of the OHS Service and persons representing employees. The Committee meets regularly, i.e. once per quarter, to discuss current OHS issues and initiatives, including hazards subject to estimation in the occupational risk assessment. In addition, following proceedings carried out at the Bank to determine the circumstances and causes of workplace accidents, we implement recommendations aimed at improving occupational safety. Moreover, within our organisational structure we also have resources dedicated to managing material impacts on our own employees within the HR Business Partners (HRBP) units. In 2025, the number of active positions amounted to 39 FTE (as of 31 December 2025). The role of HRBP units is to identify, analyse and assess risks related to actions undertaken towards employees, report them, and initiate measures to reduce or eliminate them. One of the material negative impacts identified in the area of our own employees is uncertainty regarding job security linked to the increasing use of AI solutions in our organisation. The implementation of these solutions enables the digitisation of services and, consequently, streamlining of many banking operations. Ac tions taken in this area are based on automation and robotisation, leading, among other things, to the replacement of human resources with chatbots in customer service and creating a risk related to the closure of physical branches. This directly affects employment security for staff in bank branches, business and corporate centres and private banking outlets, and above all in call centre departments. This applies both to employees employed under employment contracts and to those engaged under civil law contracts. As these employees have specific skills related to direct customer service, the possibility of employing them in other, also increasingly automated, areas of banking, is limited. To counteract the above impact, we draw on assumptions arising from our strategy of building an aspirational organisational culture, under which we invest in developing our employees’ skills, with a strong emphasis on future skills. Key initiatives in this area delivered in 2025 and addressed to our employees include: • implementation of the LinkedIn Learning platform – a comprehensive source of the latest knowledge focused on developing competences that are key to increasing effectiveness in an employee’s current or next role. This solution is important for success in a modern working environment, as it enables employees to quickly reskill in line with the development of the sector, the company or a given department. Thanks to its broad base of experts and cooperating companies, LinkedIn Learning enables us to supplement knowledge regardless of role and scope of responsibilities. It also significantly supports the development of future skills: cognitive and technological competences, providing a comprehensive extension of the Bank’s training ecosystem. It is fully tailored to the capabilities and resources of our employees, enabling them to improve their skills both during and outside working hours, using business and personal devices. This includes not only training agreed with the line manager (during working hours), but also training unrelated to an employee’s duties (outside working hours). The most popular courses among the Bank’s employees are courses in the AI area; • #AI ambassador programme – a programme aimed at engaging employees in the adoption process and developing AI - related skills (with particular emphasis on the Copilot tool), knowledge sharing and building a community focused on developing competences in the use of AI, through wider rollout of an AI-based tool. In 2025, we continued activities under the Copilot M365 pilot and the ambassador programme. We are currently in the tool adaptation phase and are running pilots to transform the way we work, with the goal of building a modern workplace environment. We also broadened employee participation in the implementation of the M365 Copilot tool by increasing the number of users. To support Copilot adoption, AI Ambassadors operate within the Bank, with the following mission:
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306 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. • explore – learning and testing the capabilities of #AI technology, with particular emphasis on the Copilot tool, • promote – championing #AI within the Bank, • communicate – acting as an information flow channel between the Copilot service implementation team and other employees, • engage – encouraging colleagues to use the tool, break habits, experiment, and share knowledge. In 2025, the Ambassadors group undertook additional training to update and supplement their Copilot knowledge resulting from integration of the tool with cloud solutions. We implement the project with the involvement of our external partners, wi th whose support we deploy, test and explore Copilot’s capabilities. As a result of these activities: • a group of approximately 40 people acquired the skills necessary to serve as Copilot Ambassadors during the further implementation phase. Each Ambassador was required to complete training and pass a demanding exam. • a team of approximately 120 people was formed, prepared to perform tasks as competent M365 Ambassadors. We required M365 Ambassador candidates to complete training and pass a demanding exam. • over 4,300 employees have been trained in AI-enabled environments (M365) or AI tools. In addition, we have launched mandatory AI training for all Bank employees. A second material negative impact in the area of own employees concerns the gender pay gap. To reduce the gap, we carry out remedial actions in line with the Gender Equality and Diversity Policy, such as analysing and monitoring the pay structure. This enables us to verify the level of pay received by employees for work of equal value. Minimising the pay gap is also one of the annual objectives for the management team. As part of monthly monitoring, managers receive information on changes in the pay gap (based on basic salaries) within the units they oversee. In addition, during the Bank’s annual salary review process, we take the pay gap into account. The salary review tool available to managers allows them to track how approved pay increases affect the pay gap (based on basic salaries) As a result of the 2025 salary review process, the pay gap between women and men covered by the Company Collective Labour Agreement decreased by 0.6 percentage points, and by 0.8 percentage points at the level of the entire Bank. This indicator is calculated on a simplified basis, using basic salaries under employment contracts and excluding variable pay components. The pay rise process is implemented based on an annual budget earmarked for this purpose for the population covered by the Company Collective Labour Agreement. 13.3.1.2 Metrics and targets Targets for managing material negative impacts, increasing positive impacts, and managing material risks and opportunities [S1-5] ESG is an integral part of the Strategy, under which we set targets for the next three years (by 2027), including maintaining high employee engagement (>60%), keeping pay differences in comparable positions below 5%, and achieving a 33% share of women in managerial roles. To assess progress toward the 2027 targets, we adopted 2024 baseline values: 63% employee engagement, 2.18% adjusted pay gap, and a 23% share of women in the most senior management positions. The achievement of targets related to managing material impacts and strategic objectives is supported by Group ‑wide regulations, although not all of them apply directly . These regulations were introduced before the CSRD Directive came into force and, therefore, the description of these targets together with the measurement structure does not meet all reporting requirements. We monitor pay‑gap‑related indicators monthly, and these are available to unit heads. This supports managerial decisions on remuneration while promoting actions aimed at achieving pay equity between women and men in their units . As a result, the Bank’s pay gap decreased from 30.99% (unadjusted) and 2.18% (adjusted) in 2024 to 28.50% (unadjusted) and 0.95% (adjusted) in 2025. Target achievement was also reflected in the qualitative component of the individual annual objectives set for members of the Bank’s management team, which include implementing the Strategy’s assumptions, with particular focus on social matters such as reducing the pay gap, employee engagement, and volunteering activity. The level of achievement of the adopted strategic targets, including targets related to managing IROs in the social area concerning own employees, is indicated by the results of the employee engagement and satisfaction survey and the year -on- year staff turnover rate (10.52% vs. 6.96% in 2024).
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307 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. Characteristics of the undertaking’s employees [S1-6] The indicators presented below are material disclosures intended to provide a clearer understanding of our organisation. Where any indicator is disclosed voluntarily, this has been expressly noted next to that indicator. In 2025, the level and structure of employment at the Bank were affected by: • incorporation into the Bank’s structures of companies from the Pekao Group: Pekao Direct (Contact Centre), Card Centre, • implementation of the Voluntary Redundancy Programme. Number of employees (end of the reporting period) by gender*: PEKAO GROUP BANK WOMEN MEN TOTAL WOMEN MEN TOTAL Persons 2024 10,110 5102 15,212 8,555 4,071 12,626 2025 9,736 5,175 14,911 9,054 4,711 13,765 FTEs** 2024 10,043.61 5,057.50 15,101.11 8,541.42 4,060.25 12,601.67 2025 9,694.64 5,144.50 14,839.14 9,017.98 4,688.75 13,706.73 * Within the Pekao Group, we do not collect employees’ gender data directly. Gender information is determined indirectly – based on the first name and the PESEL number. Consequently, our reporting only presents a split into women and men. ** For the calculation, we include employees engaged under employment contracts as of 31 December 2025 (active and inactive), excluding employees with ≤0.1 FTE, expressed in FTEs. Number of employees (FTEs) engaged under employment contracts (end of the reporting period), by contract term and gender: PEKAO GROUP BANK WOMEN MEN TOTAL WOMEN MEN TOTAL Fixed period 2024 1,334.31 930.65 2,264.96 885.05 546.78 1,431.83 2025 1,179.25 883.05 2,062.30 1112.90 830.40 1,943.30 Indefinite period 2024 8,709.30 4,126.80 12,836.10 7,656.37 3,513.48 11,169.84 2025 8,515.39 4,261.45 12,776.84 7,905.08 3,858.35 11,763.43 Total 2024 10,043.61 5,057.45 15,101.06 8,541.42 4,060.25 12,601.67 2025 9,694.64 5144.50 14,839.14 9,017.98 4,688.75 13,706.73 Number of employees engaged under employment contracts (end of the reporting period), by working time and gender: PEKAO GROUP BANK WOMEN MEN TOTAL WOMEN MEN TOTAL Full-time 2024 9,772.00 4,914.00 14,686.00 8,507.00 4,037.00 12,544.00 2025 9,559.00 5,071.00 14,630.00 8,900.00 4,630.00 13,530.00 Part-time 2024 271.61 143.50 415.11 34.42 23.25 57.67 2025 135.64 73.50 209.14 117.98 58.75 176.73 Total 2024 10,043.61 5,057.50 15,101.11 8,541.42 4,060.25 12,601.67 2025 9,694.64 5,144.50 14,839.14 9,017.98 4,688.75 13,706.73 Number of employees with no guaranteed hours (end of the reporting period) : PEKAO GROUP BANK WOMEN MEN TOTAL WOMEN MEN TOTAL 2024 0 0 0 0 0 0 2025 0 0 0 0 0 0
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308 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. Staff turnover: PEKAO GROUP BANK Pekao Group Bank Total number of employees who left the entity during the reporting period 2024 1,497.61 877.58 2025 1,562.25 1,441.70 Total number of employees who left the entity during the reporting period* 2024 9.92% 6.96% 2025 10.53% 10.52% * To calculate the employee turnover rate, we determine the total number of individuals who left the organisation voluntarily, as a result of termination by the employer, retirement, or death during employment. This value is the numerator in the turnover rate calculation. The denominator is the total number of employees, determined at the end of the reporting period. Profile of non-employee workers who form part of the entity’s own workforce [S1-7] Number of contractors (end of the reporting period), by contract type and gender: PEKAO GROUP BANK WOMEN MEN TOTAL WOMEN MEN TOTAL Engaged under contracts with entities carrying out “employment activities” * 2024 16 7 23 0 0 0 2025 19 1 20 0 0 0 Self-employed ** 2024 40 86 126 0 0 0 2025 48 105 153 0 0 0 Contract for specific work 2024 68 40 108 7 7 14 2025 55 71 126 3 9 12 Total 2024 124 133 257 7 7 14 2025 122 177 299 3 9 12 * Employment agencies. ** Self-employed are cooperators (with an active contract at the end of the reported year) who run their own business. Scope of collective bargaining and social dialogue [S1-8] Information on trade unions and social dialogue at Bank Pekao (end of the reporting period) : DATA ON TRADE UNIONS AND SOCIAL DIALOGUE AT BANK PEKAO* 2024 2025 Number of trade unions operating within Bank Pekao 9 9 Number of members of the Bank Pekao Employee Council** 7 7 Percentage of employees covered by collective agreements 77% 79% Number of workdays lost due to strikes 0 0 Percentage of employees represented by employee representatives 100% 100% * The Bank does not operate outlets within the EU outside Poland; therefore, no agreements have been concluded with employees regarding representation by a European Works Council, a European Company Works Council, or a European Cooperative Society Works Council. ** The Bank Pekao Works Council ended its term on 21 February 2025; no new Council has been established.
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309 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. Scope of collective bargaining and social dialogue for 2025: COVERAGE RATE COLLECTIVE BARGAINING COVERAGE SOCIAL DIALOGUE EMPLOYEES – EEA (IN COUNTRIES WHERE THE ENTITY HAS >50 EMPLOYEES ACCOUNTING FOR >10% OF TOTAL EMPLOYEES) EMPLOYEES – OUTSIDE THE EEA (ESTIMATE FOR REGIONS WHERE THE ENTITY HAS >50 EMPLOYEES ACCOUNTING FOR >10% OF TOTAL EMPLOYEES) WORKPLACE REPRESENTATION (EEA ONLY) IN COUNTRIES WHERE THE ENTITY HAS >50 EMPLOYEES ACCOUNTING FOR >10% OF TOTAL EMPLOYEES 0-19% - - - 20–39% - - - 40–59% - - - 60–79% Poland - Poland 80–100% - - - Diversity metrics [S1-9] Number of employees by employment structure and diversity (FTEs, end of the reporting period) : TOP SENIOR MANAGEMENT* PEKAO GROUP BANK WOMEN MEN TOTAL WOMEN MEN TOTAL 2024** 49.00 89.50 138.50 12.00 42.50 54.50 2025 47.95 78.70 126.65 15.00 40.50 55.50 * Top senior management includes members of the Bank’s Management Board and Directors of Divisions, Centres and Departments reporting directly to the Management Board. ** Insignificant data correction of 2024 data – update of the number of top senior management at Bank Pekao S.A. due to inclusion of Management Board members. Share of employees by employment structure and diversity (end of the reporting period): TOP SENIOR MANAGEMENT* PEKAO GROUP BANK WOMEN MEN WOMEN MEN 2024** 35.38% 64.62% 22.02% 77.98% 2025 37.86% 62.14% 27.03% 72.97% * Top senior management includes members of the Bank’s Management Board and Directors of Divisions, Centres and Departments reporting directly to the Management Board. ** Insignificant data correction of 2024 data – update of the number of top senior management at Bank Pekao S.A. due to inclusion of Management Board members. Number of employees by age category and diversity (FTEs, end of the reporting period) : PEKAO GROUP BANK WOMEN MEN TOTAL WOMEN MEN TOTAL <30 2024 857.38 735.23 1,592.61 430.65 360.83 791.48 2025 794.78 736.25 1,531.03 732.28 679.30 1,411.58 30-50 2024 5,250.42 2,954.63 8,205.05 4,381.47 2,475.93 6,857.39 2025 5,064.43 2,967.03 8,031.46 4,604.26 2,688.78 7,293.03 >50 2024 3,935.81 1,367.65 5,303.46 3,729.30 1,223.50 4,952.80 2025 3,835.43 1,441.23 5,276.66 3,681.45 1,320.68 5,002.13 Total 2024 10,043.61 5,057.50 15,101.11 8,541.42 4,060.25 1 2601.67 2025 9,694.64 5,144.50 14,839.14 9,017.98 4,688.75 13,706.73
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310 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. Adequate pay [S1-10] Number of employees receiving pay below the adequate pay benchmark* (end of the reporting period): PEKAO GROUP BANK 2024 2025 2024 2025 Number of employees 0 0 0 0 Percentage of employees 0 0 0 0 * The adequate pay benchmark adopted is the statutory minimum wage (“national minimum wage”) applicable in 2024 and 2025, respectively. Social protection [S1-11] Under the applicable regulations, all employees engaged under employment contracts are covered by the full scope of social insurance, including old-age pension, disability pension, accident, sickness and health insurance. This ensures access to social protection in circumstances preventing work, such as illness, a workplace accident, disability, taking parenthood-related leave, or retirement. One hundred percent of employees are eligible to benefit from these protections. Training and skills development metrics [S1-13] Number of performance and career development reviews (FTEs, end of the reporting period): PEKAO GROUP BANK WOMEN MEN TOTAL WOMEN MEN TOTAL Number of employees who participated in regular performance and career development reviews 2024 8,709.43 4,378.68 13,088.10 7,557.62 3,567.28 11,124.89 2025 7,604.95 3,908.10 14,839.14 7,274.99 3,654.60 10,929.59 Number of employees who participated in regular performance and career development reviews 2024 86.72% 86.58% 86.67% 88.48% 87.86% 88.28% 2025 78.44% 75.97% 77.59% 80.67% 77.94% 79.74% Training hours by gender (end of the reporting period): PEKAO GROUP BANK WOMEN MEN ALL EMPLOYEES WOMEN MEN ALL EMPLOYEES Total number of training hours, by gender 2024 531,845.99 199,423.22 731,269.21 459,429.99 143,583.22 603,013.21 2025 467,095.45 187,606.04 654,701.49 460,618.15 182,100.44 642,718.59 Average training hours per employee, by gender 2024 52.28 38.27 47.54 53.78 35.34 47.84 2025 47.53 35.06 43.14 51.06 38.69 46.82 Average training hours per employee by employee category (end of the reporting period) : PEKAO GROUP BANK 2024 2025 2024 2025 Management Board Members 37.36 25.28 24.11 39.92 Managers 49.63 53.30 53.44 59.71 Other employees 47.70 41.87 47.05 45.24 All employees 47.54 43.14 47.84 46.82
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311 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. Occupational health and safety metrics [S1-14] Percentage of own workforce covered by the OHS system (end of the reporting period): PEKAO GROUP BANK Percentage of workforce covered by OHS systems 2024 100% 100% 2025 100% 100% Number of occupational accidents (end of the reporting period): PEKAO GROUP BANK 2024 2025 2024 2025 Number of occupational accidents 38 34 38 33 Occupational accident rate 1.55 1.46 1.86 1.54 Number of cases of ill health 0 0 0 0 Number of lost workdays due to work- related injuries, fatalities from occupational accidents, work-related ill health, and fatalities due to work- related ill health 1,596 1,922 1,596 1,905 Number of fatal occupational accidents (end of the reporting period): PEKAO GROUP BANK 2024 2025 2024 2025 Total number of fatal occupational accidents resulting from: • work-related injuries 0 0 0 0 • work-related ill health (occupational disease) 0 0 0 0 • total number of fatal accidents 0 0 0 0 Work–life balance metrics [S1-15] Percentage of employees entitled to parental leave and percentage of entitled employees who took parental leave (end of the reporting period): PEKAO GROUP BANK WOMEN MEN TOTAL WOMEN MEN TOTAL Percentage of the undertaking’s own workforce entitled to parental leave 2024 100% 100% 2025 100% 100% Percentage of the undertaking’s own workforce who took parental leave 2024 3.59% 3.68% 3.62% 3.10% 3.52% 3.24% 2025 2.75% 2.97% 2.83% 2.59% 3.07% 2.76%
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312 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. Pay metrics (gender pay gap and total remuneration) [S1-16] Pay-related indicators: 2024 2025 BANK PEKAO TARGET FOR 2027 Gender pay gap* between women and men – Pekao Group 29.20% 28.57% Gender pay gap between women and men – Pekao Group 30.99% 28.50% Pay difference in Pekao Group S.A.** 2.05% <5% % of top senior management positions held by women*** 29% 33% * The unadjusted gender pay gap between women and men is presented as the difference between men’s average pay and women’s average pay, expressed as a percentage of men’s average pay, based on headcount as of 31 December 2025. The indicator was calculated in accordance with the Polish Bank Association’s (Związek Banków Polskich) recommendations for reporting differences in pay between women and men, including the exclusions from the population and the pay components taken into account. The indicator is calculated on the basis of total pay (annualised and converted to a full-time equivalent), understood as: twelve times the base salary rate for December, additional cash benef its paid in a given year, additional non-cash benefits actually received at their taxable benefit value, bonuses, awards and competitions paid in a given year, and variable remuneration for senior management awarded in 2025 for 2024. Pay does not include: overtime pay and overtime premiums, benefits financed from the Company Social Benefits Fund (ZFŚS), reimbursements of expenses and the value of work tools provided, payments related to an employee’s departure (e.g. severance pay, cash equivale nt for unused leave, compensation, non-compete payments, etc.), or employer social security contributions. The Bank also calculates an adjusted gender pay gap indic ator, calculated as follows: for Bank Pekao S.A. – a weighted average for employee sub-groups, taking into account grading levels, job families and the division in which a given employee is employed; for Group companies – a weighted average for employee sub-groups, taking into account job category. This indicator is also calculated based on total pay. The adjusted gender pay gap calculated in this way for 2025 amounts to 0.95% for the Bank and 2.05% for the Group. To ensure comparability, 2024 data were recalculated using the current methodology. ** As of 31 December 2025 – indicator for the Pekao Group. The adjusted gender pay gap is calculated as a weighted average for employee sub -groups, taking into account: for the Bank – grading levels, job families and the division in which a given employee is employed; for Group companies – employee sub- groups. The indicator is calculated based on total pay. The Bank uses the Korn Ferry/Hay methodology (levels and job families), under which it compares pay differences. ***As of 31 December 2025 – indicator for Bank Pekao S.A.; senior management (top management) excluding Management Board Members. Pay ratio for the highest-paid individual: PEKAO GROUP BANK 2024 2025 2024 2025 Ratio of annual total remuneration for the highest- paid individual in the organisation to the median annual total remuneration for all employees (excluding the highest-paid individual)* 19,3 19.4 18.5 19.2 * In 2025, following the issuance of the Polish Bank Association’s recommendations on calculating the gender pay gap, the Bank also adjusted the methodology for calculating the remuneration indicator for the highest-paid individual. The indicator is calculated on the basis of total pay (annualised and converted to a full-time equivalent), understood as: base salary paid, sick pay, additional cash benefits paid in a given year, additional non-cash benefits actually received at their taxable benefit value, bo nuses, awards and competitions paid in a given year, and variable remuneration for senior management paid. Pay does not include: overtime pay and overtime premiums, benefits financed from the Company Social Benefits Fund (ZFŚS), reimbursements of expenses and the value of work tools provided, payments related to an employee’s departure (e.g. severance pay, cash equivalent for unused leave, co mpensation, non-compete payments, etc.), or employer social security contributions. To ensure comparability, 2024 data were recalculated using the current methodology.
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313 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. Incidents, complaints and severe human rights impacts [S1-17] Incidents, complaints and severe human rights impacts (end of the reporting period): PEKAO GROUP BANK 2024 2025 2024 2025 Number of cases of discrimination, including harassment 0 1 0 1 Number of complaints submitted through reporting channels 21 24 20 23 Total fines, penalties, and damages resulting from incidents exceeding 30,000 0 0 0 Number of human rights violations 0 0 0 0 Including violations of the UN Guiding Principles on Business and Human Rights, the International Labour Organization Declaration on Fundamental Principles and Rights at Work, or OECD Guidelines 0 0 0 0 Total fines, penalties, and damages resulting from incidents exceeding 0 0 0 0 13.3.2 Consumers and end-users [ESRS S4] Customers38 are the foundation of our business. We build all processes, products and our communication around their needs, expectations and experiences. Our objective is to develop lasting, trust -based relationships that translate into customer satisfaction and financial security. Our day-to-day cooperation with customers is grounded in respect, professionalism and empathy. We ensure that everyone – regardless of age or life circumstances – is treated fairly and with understanding. We offer products in a responsible and transparent manner. We counteract misselling by tailoring our offering to customers’ genuine needs. We create solutions that support their financial stability and provide a sense of security. We treat customer security as a paramount value. We continuously develop tools and procedures to protect personal data and financial assets. We adhere to the highest privacy standards, and our communication with consumers is based on honesty, reliability and responsibility. We avoid messages that could mislead, focusing instead on clear and understandable information. We build customer relationships on the values that underpin our success: PROSTO (STRAIGHTFORWARDLY), RAZEM (TOGETHER), ODWAŻNIE (BOLDLY), ODPOWIEDZIALNIE (RESPONSIBLY), Z DETERMINACJĄ (WITH DETERMINATION), OTWARCIE (OPENLY) and UCZCIWIE (HONESTLY). 13.3.2.1 Managing impacts, risks and opportunities Policies related to consumers and end-users [S4-1] Our relationships with customers are the result of deliberate choices, responsible practices and continuous improvement. To better understand which aspects of our operations shape consumer experience, we took a holistic look at our processes and customer interactions. Our aim was not only to assess benefits, but also to identify potential risks and areas requiring particular attention. As a result of the double materiality assessment, we identified five areas that are critical to the quality of customer relationships: • Non-discrimination – ensuring equal treatment of all customers, • Access to products – removing barriers to using our offering, • Access to information – transparency and clarity of communication, • Consumer privacy and personal data protection – responsible management of information and data, 38 Under ESRS S4, we refer to customers and consumers as retail banking, private banking and sole proprietorships (JDG).
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314 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. • Responsible marketing practices – honesty and transparency in marketing messages. Understanding the importance of these areas helps us design our activities more effectively, tailor our offering to customers ’ real needs and build lasting, trust-based relationships. Non-discrimination and access to products and services The cornerstone of our day-to-day operations and of our values and standards is the Pekao Group Code of Conduct (the Code of Conduct), which ensures process transparency and alignment with best practices. We base all actions – internal and external – on the Code, carrying them out in line with ethical and professional standards. The Code of Conduct sets out the principles we follow in our daily business activities. It is also our commitment to act in line with the highest standards in relations with colleagues, partners and customers. The provisions of the Code form the basis for other regulations and activities discussed in the following sections of the report. The Code itself is described in more detail in section [G1-1]. The Bank has a structured product lifecycle management process for customer products, covering their launch, modification and withdrawal from the offering. Its purpose is to establish a consistent framework to be met by all new and updated products, including insurance products. This process is governed by the Policy for the Process of Launching New Products at Bank Pekao S.A. (the New Product Launch Process Policy) , which sets out the rules of conduct and risk areas related to bringing products to market. By applying a uniform approach, we can ensure high quality standards, compliance with applicable legal and internal regulations, and alignment with the Strategy. Each new product and each modification require Management Board approval, and multiple organisational units are involved in the process. Under the New Product Launch Process Policy , the unit launching or modifying a product analyses it and ensures that it: • is aligned with the Strategy, including the ESG strategy and principles; • has a positive impact on customer experience (as determined based on customer experience impact assessment and research conducted on target customer groups); • meets internal financial, capital, profitability and accounting criteria; • has been assessed in terms of risks, including legal, compliance and reputational risk, operational risk (including complaint handling), credit risk, financial risk, and the risk of breaches of AML/CFT regulations and financial sanctions; • is handled in systems that ensure data and information security and have appropriate business continuity mechanisms; • is appropriately classified for FATCA and CRS purposes. In accordance with European Banking Authority (EBA) guidelines, prior to: • launching a new product on the market, • offering an existing product to a new target market, • modifying an existing product, the implementing unit is required to carry out product testing. We perform such tests under various scenarios, including stress conditions, which allows us to assess product impact on customers and identify potential weaknesses in the offering. Test results are an important source of information for supervisory authorities and support efforts to protect consumers’ interests. As part of our marketing activities, we systematically measure the quality of customer experience and customer needs, conducting research as early as the product and service design stage. This helps us better understand customer expectations and develop solutions that are attractive and easy to understand. In designing banking products, we focus on accessibility and transparency. Customer experience in working with the Bank matters to us. That’s why we understand ESG as active customer experience management: we listen, analyse and respond to build relationships based on trust and real needs. Customer experience management is a strategic approach to building and improving every interaction a customer has with the brand; therefore, in 2024, we implemented the Customer Experience Management Model (the Model ). Its objective is to increase customer satisfaction and loyalty by delivering consistent and positive experience. The Model is based on data analysis, journey mapping and continuous process improvement based on customer feedback and needs. The Model operates through individual modules: • Customer experience strategy – sets the direction for our development towards becoming the market leader in customer satisfaction and loyalty in banking. How customers perceive us changes with their experiences arising from their
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315 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. relationship with us, which is why we regularly collect customer feedback to adjust our actions both in the short and long term to their changing expectations. • Measuring customer experience – provides employees with information needed to make the right business decisions and identify areas requiring improvement. • Improving customer experience – based on a model that defines the roles and responsibilities of individual Bank units in planning, monitoring and optimising processes and solutions. It involves identifying and eliminating so-called “pain points” along customer journeys. This enables better processes, products and services and helps create exceptional experiences. As a result, we increase customer satisfaction and loyalty and support the creation of competitive advantage. • Customer-centric culture – is the foundation of the Model and an integral part of our Strategy. It focuses on building an organisational culture in which the customer is at the centre of everything we do. We aim for a lasting shift in mindset and behaviour, so that every decision is made from the perspective of value delivered to the customer. We aspire to be a modern, dynamic bank focused on meeting customers’ needs at every stage of their lives. It is very important to us that contact with the Bank is a positive experience across all touchpoints. This means professional advice, simple procedures and fast decisions, as well as a complete and flexible range of products for all customer segments. At the same time, we pay particular attention to the quality of communication and the creation of customer-friendly, readable documentation, on the assumption that positive customer experience depends on all of us. It is customer experience that builds and strengthens the Bank’s brand. To improve the accessibility of our services, in September 2024, we launched the Pekao without Barriers project, which prepares our organisation for the requirements of the Act of 26 April 2024 on ensuring that certain products and services meet accessibility requirements by economic operators, which have applied to us since 28 June 2025. The project aims to: • provide the highest quality customer service, regardless of the point of contact with the Bank – taking specific needs into account; • remove barriers to access to banking services; • increase the accessibility of services offered; • raise awareness and train employees on accessibility solutions tailored to people with specific needs. The Project covers people with specific needs who, for various reasons, must take additional actions or use special solutions to overcome barriers and participate in different areas of life on an equal basis with others. This includes, among others, persons with disabilities, seniors, pregnant women and people travelling with small children. When designing a branch, we ensure that it: • is equipped with all necessary facilities for persons with disabilities, including call/assistance system; • provides unobstructed access to all rooms – without thresholds, steps or other obstacles; • has door and corridor widths compliant with applicable regulations; • has entrances that are easily accessible – where access requires climbing stairs, we ensure that a ramp, lift or other mechanism facilitating movement is provided. The unit coordinating project delivery is the Key Quality Projects Section within the Customer Experience Management Department. In the area of human rights compliance, we are guided both by applicable laws and by best market practices. In the Pekao Group, all reports, including those concerning human rights violations, are carefully analysed and handled in accordance with applicable procedures. Due to the nature of such incidents, we do not quantify them or estimate their level of materiality. Detailed information is available in section [S1-1]. Marketing communications and responsible marketing practices We believe that every piece of information addressed to customers can shape their decisions. Responsible promotion is therefore an essential part of building trust. Every marketing message, every advertising campaign and every product communication must not only capture attention, but above all provide reliable and honest information, with full respect for the customer’s decisions. In the Pekao Group, we carry out promotional activities based on transparent knowledge of the products we offer, taking into account potential risks arising from changing macroeconomic conditions or regulatory action. Our communications comply with
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316 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. applicable laws, supervisory authority guidance, the principles of fair dealing in the financial market and good practice – and we respect customers’ preferences regarding the receipt of marketing content. The framework for these activities is provided by the Marketing Policy of Bank Pekao S.A. (the Marketing Policy), which stems from, and further elaborates on, the Marketing Strategy . The document was introduced to structure all areas of marketing activity in the Bank and to implement organisational solutions that enable marketing processes to be improved and optimised. It covers particularly areas such as brand/image communications, content marketing, digital marketing, media planning and buying, event organisation, marketing research and internal communications. The standards for marketing communications are set by the Rules for Creating Marketing Communications of Bank Polska Kasa Opieki Spółka Akcyjna (the Rules for Creating Marketing Communications ), which define the overarching principles for ensuring that messages are compliant with legal regulations, the Bank’s internal guidelines, recommendations of industry organisations of which the Bank is a member, and the values that define our identity. It should be noted that, for the Pekao Group, a document entitled the Policy for Cooperation in the Area of Communication and Marketing within the Capital Group of Bank Polska Kasa Opieki Spółka Akcyjna. Policy for Managing the Brand Architecture of the Capital Group of Bank Polska Kasa Opieki Spółka Akcyjna has been developed. This document serves an analogous purpose to the document described above; however, its provisions apply across the entire Group, ensuring consistency and a uniform approach throughout the organisational structure. Marketing communications in the Pekao Group are addressed to all audience groups, regardless of age, gender or origin. Every message is created with full respect for diversity and the dignity of the customer. Discrimination – in any form – is unacceptable and has no place in our activities. Our Rules for Creating Marketing Communications clearly state that no product or service may be presented as entirely risk - free, nor in a way that would suggest a lower interest rate than it actually is. As an institution whose credibility is built on transparency and honesty, we are committed to provid ing accurate information on the terms of the services we offer. We precisely define the information that must be included in marketing materials, and the form and content are tailored to the needs and capabilities of the audience. To ensure compliance with applicable regulations and internal standards, all advertising materials are subject to consultation with the Compliance Department, and the assessment of non -compliance risk is an integral part of the communications development process. With regard to investment products, in line with the Rules for Creating Marketing Communications , any information provided by the Bank to customers – including information disseminated for advertising or promotional purposes – must be presented in a reliable manner and clearly highlight the risks associated with the investment and the possibility of losing part of the invested funds. Risk information is presented in a font size at least equal to the font size used to communicate any potentia l benefits of th e product; additionally, the layout used ensures that such information is clearly visible. These materials are addressed exclusively to customers who, on the basis of the MiFID questionnaire completed by them, fall within the target market for the relevant investment product, in order to minimise the risk of presenting a product that is not appropriate to the customer’s knowledge and expectations. Consumer privacy (and personal data protection) We know that customer trust is a value built over many years, and one of its pillars is a responsible approach to personal data protection. In a world where digital interaction with financial institutions is becoming everyday practice, privacy management is no longer merely a regulatory obligation, but a strategic commitment to customers. At the Bank, we have embedded personal data protection into operational and regulatory structures as a permanent element of organisational culture. Every process and decision – from service design through to day -to-day operation of the Bank – takes into account information security principles and respect for privacy. We have clearly defined accountability for this area: from the Management Board, through unit directors, to every employee who processes data as part of their job responsibilities. Our comprehensive approach to security management (including cybersecurity) is set out in the ICT Security Strategy for 2025–2027 (the Security Strategy), which focuses on strengthening the organisation’s resilience to digital threats and ensuring the highest level of customer data protection. The Security Strategy assumes the development of competencies relating to modern technologies and the implementation of solutions supporting the secure operation of banking services. The document plans actions in areas such as: • Artificial intelligence and machine learning (AI/ML) – implementing security mechanisms and risk assessment principles for new technologies. • Cloud services security – developing competencies and implementing technical and organisational solutions in this area. • Identity and access management (IAM) – implementing systems supporting the control of permissions and access.
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317 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. • Compliance with ISO standards – preparation for certification and ongoing improvement of the information security management system. • Education and communication – activities increasing awareness among employees and customers, including ambassador programmes and information campaigns. On the technology side, we are implementing new mechanisms to support the secure use of digital solutions. We carry out risk analysis and develop risk assessment principles that will be applied in implementation processes. We carry out these activities in a coordinated manner, taking organisational and operational needs into account. The Security Strategy also covers the development of policies and procedures related to access management and information security, as well as preparations for implementing standards aligned with international norms. We monitor and continuously improve the solutions implemented, and we assess their effectiveness based on periodic reviews and internal reports. As part of the Security Strategy , we run an educational programme for employees aimed at increasing cybersecurity awareness. In parallel, we carry out informational and educational activities for customers, including media campaigns and initiatives designed to increase knowledge about threats and how to avoid them. The Security Strategy in force at the Bank is universal in nature and applies to all customers. The document takes into account commitments relating to respect for human rights and compliance with international guidelines on responsible business conduct. The implementation of the Security Strategy is carried out in line with the adopted principles of oversight and accountability. Implementation of the Security Strategy is monitored on an ongoing basis using a management information system, including periodic reports on the security status of the ICT environment. In addition, reviews of information security documents and compliance audits will be conducted against applica ble regulations, including the national cybersecurity system. The results will be reported to the relevant supervisory authorities and committees, enabling progress to be tracked on an ongoing basis and improvement actions to be taken. Further information on the customer data management process is provided in section [S4-2]. Minimum reporting requirements for policies: POLICY NAME LINK TO IRO APPROVING BODY SCOPE (BANK/GROUP) Pekao Group Code of Conduct Non-discrimination Management Board of the Bank Group Policy for the Process of Launching New Products at Bank Pekao S.A. Access to products Access to information Supervisory Board Bank Bank Pekao Strategy for 2025–2027 Access to products Supervisory Board Group Customer Experience Management Model Non-discrimination Access to products Access to information Division Director Bank Rules for Creating Marketing Communications of Bank Polska Kasa Opieki Spółka Akcyjna Responsible marketing practices Access to information Non-discrimination Management Board of the Bank Bank Policy for Cooperation in the Area of Communication and Marketing within the Capital Group of Bank Polska Kasa Opieki Spółka Akcyjna. Policy for Managing the Brand Architecture of the Capital Group of Bank Polska Kasa Opieki Spółka Akcyjna Responsible marketing practices Access to information Non-discrimination Management Board of the Bank Group Marketing Policy of Bank Pekao S.A. Responsible marketing practices Management Board of the Bank Bank ICT Security Strategy 2025-2027 Consumer Privacy Management Board of the Bank Bank
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318 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. Processes for engaging with consumers and end-users on impacts [S4-2] We strive to build lasting relationships with customers based on trust, understanding their needs and co-creating value. Our activities in this area focus on ensuring responsible sales, developing innovative solutions, conducting systematic marketing and customer satisfaction research, and protecting customer privacy. Customer research and customer experience management We conduct research aimed at obtaining and updating knowledge about our customers’ experiences. At the preparation stage, we define the scope of the research and the target group and then refine the methodology by selecting appropriate research tools. Data analysis is based on insights derived from the research projects carried out. We monitor customer experience comprehensively across all business segments. We make research results available within the Bank via a reporting tool, enabling broad use in decision-making processes and in improving service quality. Each year, we prepare a research plan covering all business segments and key channels through which customers contact the Bank. As part of efforts to better understand customer needs and improve services, we carry out a variety of research activities with consumers to gather feedback and jointly shape solutions that respond to real expectations. These include, among others: • external relationship research – satisfaction with the relationship compared with competitors, • internal relationship research – satisfaction of the Bank’s customers, • transactional research – satisfaction after a specific interaction or after using a selected channel, • mystery shopper research – service quality audits in branches and remote channels, • in-depth interviews and focus groups with customers and employees. We conduct research at different intervals – annual, semi -annual and quarterly. We also analyse NPS benchmark results among retail customers, covering the largest banks in Poland. Based on our analyses, we: • compare the Bank’s results with competitors (where available), • identify competitive advantages, • identify recurring patterns of satisfaction and dissatisfaction, • pinpoint customer pain points, including along customer journeys, • assess the impact of implemented improvements on the Bank’s results, • develop analyses and initial recommendations for change, • monitor the effectiveness of implemented improvements in subsequent research waves. On this basis, we run strategic initiatives affecting the quality of customer contact in areas such as brand perception, cost s, offering and credibility, bank branches, mobile and online services and the helpline. We regularly map customer journeys to view processes from the customer perspective and eliminate pain points. Our goal is for every interaction with the Bank to be built on trust and effective cooperation. The foundation for systematic improvement of customer interactions at every stage of contact with the Bank is the Customer Experience Management Model. The Bank has established a unit whose mission is to support initiatives that increase customer satisfaction and improve relationship quality i.a. in the areas of processes, complaints, research, operational KPIs and operational activities. As a customer-oriented organisation, we engage all employees – from operational teams through to the Management Board – in creating positive interactions. We design processes so that purchasing products and using services is seamless and aligned with customer expectations, ensuring high-quality contact at every stage. MiFID process Customer experience management is also reflected in regulatory processes such as MiFID, where precise matching of products to customer needs and transparent communication are key elements in building trust. The MiFID-enabled sales process begins with the customer completing an investment questionnaire. During this process, the customer answers questions about investment preferences, needs, risk appetite and expectations relating to ESG aspects. Based on this information, it is possible to determine which products fall within the customer’s target market and which do not.
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319 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. The customer may choose the one that best matches their purchasing preferences from the products aligned with the customer profile. It is also possible to purchase a product outside the target market; however, in such a case the customer receives a n appropriate warning from the Bank. This mechanism is intended to prevent unsuitable product matching and to ensure that the offering is aligned with the customer’s genuine needs. Operational coordination of MiFID-related processes is handled primarily by employees of the Business Process Team within the Brokerage House and the Investment Process Support Office within the Bank. Oversight of the overall delivery of MiFID processes is exercised by the Management Board. These processes are reviewed annually and, in the event of regulatory changes, updated on an ongoing basis. The MiFID questionnaire itself should be updated by the customer no less frequently than once every 12 months, which helps maintain alignment between the offering and the customer’s investment profile. To ensure the process operates correctly, the MiFID area within the Brokerage House is governed by internal documents, the most important of which are: • the appropriateness assessment of financial instruments and brokerage services, the suitability assessment for investment advisory services, and the assessment of the customer’s preferences, needs and approach to investing (the MiFID Assessment); • information pack, Information on retail savings Treasury bonds; • rules for the distribution of investment products in the Centre – Pekao Brokerage House; procedures for Customer Service Points and Brokerage Service Points in the area of identification, customer service standards, preparing meeting notes, telephone instructions, performing control activities and granting authorisations by customers. Innovation development We develop innovation in a systematic way, grounded in real business needs. The Bank operates an Innovation Lab, which serves as a research space responding to challenges raised by business owners. Research may be carried out independently or form an integral part of a broader design process delivered by the Lab Team’s designers and, importantly, it is conducted at different stages of product or service development. At the initial stage of building a solution, we conduct exploratory research, such as identifying customer needs, netnographi c analysis, desk research, trendwatching studies and market benchmarking. At later stages, we continue the research process by validating initial concepts and development directions for existing products or services. Our work typically culminates in a report containing findings and recommendations, which we provide to the business owner as support for further decision - making. In 2025, we carried out a range of studies aimed at deepening our understanding of consumer needs and experiences, as well as supporting design processes relating to the development of products and services. These studies took into account diverse customer perspectives, including those of people with specific needs, such as seniors or people who do not use banking applications. We conducted: • Exploratory research – focused on gaining a multi-dimensional understanding of customers’ behaviours, expectations and pain points. It helped uncover new, previously unidentified insights, supporting better alignment of the Bank’s offering with users’ real needs. The research i nvolved diverse customer groups, including people with limited access to digital technologies. • User experience (UX) research – aimed at analysing customer interactions with banking products and services, with particular focus on Pekao24 online banking and the PeoPay mobile application. It enabled us to identify areas requiring optimisation in terms of usability and accessibility. • Supporting research – conducted at different stages of the design process, providing project teams with key information needed to create and improve solutions. This included, among other things, identifying requirements, testing concepts and prototypes, and assessing the effectiveness of implemented services. We ensure that business activities are conducted in compliance with applicable laws, external regulations and internal rules. We treat adherence to these standards as an integral part of our responsibility. We want employees to feel co -responsible for the proper functioning of the Bank, to act in line with applicable procedures and to contribute to increasing customer satisfaction. In 2025, we took measures to improve the quality of telephone conversations with customers, with particular emphasis on security, clarity and tailoring the offering to recipients’ needs. We monitor and ensure that, during telephone contacts, our employees: • comply with security and conversation confidentiality standards, correctly identify customers, and observe the rules on maintaining banking and professional secrecy;
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320 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. • provide information in a way that is accessible to the average recipient – reliably, comprehensively, truthfully and without misleading; • offer products that are appropriate to the customer’s needs, presenting them in a way aligned with their nature. We treat call security as a priority – we want every customer to feel safe and comfortable during telephone contact. In 2025, we implemented, for customers who are sole traders (JDG), a safeguard in the form of an electronic business card, which we actively promoted among customers and employe es. In addition, the “Send notification / customer assistance” function, available in the Bank’s mobile applications, enables: • confirmation of the employee’s identity where the customer has doubts about the authenticity of the call; • identification and confirmation of the customer’s identity. This functionality significantly increased customer protection against spoofing attacks, which involve impersonating a Bank employee and persuading customers to take actions consistent with a fraud scenario. Consumer privacy and data management We comply with GDPR requirements, ensuring customers’ right to full information on the rules, purposes and methods of personal data processing – there are various information clauses in place at the Bank, tailored to the specific recipient groups. In the Data Protection Officer Department (hereinafter: “DPOD”), we pay particular attention to clauses addressed to children – a group with specific needs and an elevated risk of discrimination. For products dedicated to children, such as the “money box” function, clauses written in simple, understandable language are used. In addition, any marketing consents on behalf of children must be given by their legal representatives. The DPOD provides opinions on all initiatives involving the use of natural persons’ personal data. These activities are intended to ensure regulatory compliance, protect customers’ rights and build trust in the Bank as a socially responsible institution. In an era of digitalisation and growing cybersecurity threats, privacy protection is not only a legal requirement arising from applicable regulations, but also a key element in building the institution’s reputation and trust. Every Bank employee is obliged to maintain the confidentiality of legally protected information relating to the Bank, Pekao Group entities, customers, transactions, counterparties and co -workers, which has been made available to them or to which they have gained access in the performance of their job duties. We comply with generally applicable laws and the principles set out in Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and o n the free movement of such data, and repealing Directive 95/46/EC (General Data Protection Regulation; hereinafter: GDPR). We process personal data in accordance with the law and with the utmost care to protect the interests of data subjects. The Bank acts both as a data controller and as a processor within the meaning of GDPR and bears full responsibility for compliance with personal data protection regulations, in particular taking into account the GDPR principles for personal data processing, such as: • the principle of lawfulness, fairness, transparency and accuracy by processing personal data lawfully, fairly and in a transparent manner in relation to the data subject (Article 5(1)(a) and (d) GDPR); • the principle of purpose limitation by recognising that data are collected for specified, explicit and legitimate purposes (Article 5(1)(b) GDPR); • the principle of data minimisation by recognising that the scope of processing must be adequate and limited to what is necessary for the stated purpose (Article 5(1)(c) GDPR); • the principle of integrity and confidentiality by applying appropriate technical and organisational measures by the controller to ensure data security (Article 5(1)(f) GDPR). We take all necessary precautions to prevent unauthorised access to legally protected information. Most importantly, we keep confidential any data marked with relevant clauses and use them solely for the performance of our job duties. A number of internal regulations concerning the protection of customers’ personal data are in force at the Bank. Their implementation is the responsibility of the data controller (the Management Board), while responsibility for keeping them up to date rests with the owners of the individual documents. Operational procedures relating to personal data processing are updated on an ongoing basis so that they reflect current requirements and ensure effective protection of customer data. Directors of organisational units are responsible for the organisation, security and processing of personal data within their units. Employees, in turn, are obliged to process personal data in accordance with the authorisation granted to them, arising from the scope of duties defined for the position they hold. To this end, we develop and implement mandatory training programmes for employees on personal data protection, and we systematically monitor training completion.
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321 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. To ensure compliance with personal data protection principles, we develop and implement mandatory training programmes for employees, and their delivery is systematically monitored. In addition, the Bank’s Security Centre undertakes activities aimed at increasing customer security in relation to cyber threats. Risk situations and customer needs are analysed regularly, enabling the implementation of appropriate solutions such as educational campaigns, additional safeguards in electronic channels or informational communications. These measures are also tailored to the needs of selected customer groups, including older people, young people and individuals with limited knowledge of banking services. Remediation processes and channels for consumers and end-users to raise concerns [S4-3] Effective and responsible handling of complaints processes plays a key role in building positive customer experiences and trust in the Bank. A key aspect of the Customer Experience Management Model is improving customer experience. We take systematic and targeted actions aimed at ensuring consistent, simple and satisfying interactions at every stage of contact with the Bank. Based on the analysis of customer research, we identify key reasons for customer dissatisfaction and areas for improvement. We engage in strategic projects and initiatives linked to areas that improve the quality of customer experience. Ensuring high- quality complaints handling is an important element of our strategy focused on customer satisfaction. Complaints The process for handling customer complaints is a key element of the Bank’s operations, affecting not only the institution’s positive image, but also customer satisfaction and the improvement of internal processes. The main regulation governing complaint handling is the order Process for handling customer complaints of Bank Polska Kasa Opieki Spółka Akcyjna, which defines the rules and procedures for receiving and handling submissions. The basic assumptions of the process include: • compliance with statutory requirements; • transparency of complaint handling; • clarity for the consumer; • handling without undue delay. We act in accordance with the Act on handling complaints by financial market entities, the Financial Ombudsman and the Financial Education Fund. Our customers may submit complaints in person at a branch, in writing, via the helpline, in electronic banking or via e-Delivery. We inform customers about all available contact channels in the Complaints Regulations, which we provide when entering into an agreement and additionally make available on the Bank’s website; we also provide information on the rules and deadlines for submitting and handling customer complaints – [Complaints – retail customer]. We systematically develop complaint submission channels in response to customer needs and regulatory requirements. This enables us to serve customers in line with their expectations, both at the complaint submission stage and during the response process. Customers are also entitled to submit correspondence via an authorised representative; however, the Bank responds to the representative only where the power of attorney submitted expressly releases the Bank from the obligation to maintain banking secrecy. Complaints must include customer data – anonymous submissions are not processed because it is not possible to establish the facts and relate them to a specific case. We verify each complaint for validity and whether the customer’s claim should be accepted. The decision on whether a complaint is justified is taken based on the analysis of the collected materials and recommendations. Decisions on accepting a customer’s claim are taken in line with authority limits and the guidelines described in the document Process for handling customer complaints of Bank Polska Kasa Opieki Spółka Akcyjna. In dispute resolution, customers may seek assistance from the Customer Advocate, who handles the most difficult and non - standard cases requiring an individual approach and additional legal opinions. A customer who is a consumer of the Bank also has the option to apply for out-of-court proceedings before the Banking Arbitrator operating at the Polish Bank Association, or before the Financial Ombudsman. Where a customer does not agree with the response to a complaint, they have the right to appeal. This can be done via the same channels available for submitting complaints. We also enable our customers to appeal to internal Bank bodies such as the Management Board or the Supervisory Board, and to external institutions, including the Financial Ombudsman, the Polish Financial Supervision Authority (KNF), as well as municipal and district consumer ombudsmen. We handle all complaints and appeals while maintaining confidentiality and respecting personal data protection. To ensure GDPR compliance, data sent outside the Bank are encrypted and the decryption password is provided via a different communication channel.
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322 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. We recognise that customer satisfaction with the complaint handling process has a direct impact on the Bank’s reputation. Customers who experience a professional and effective approach to complaint handling are more likely to remain our customers and recom mend the Bank’s services to others. Therefore, we regularly monitor customer satisfaction with this process. Analysing opinions, collecting customer feedback and implementing appropriate improvements based on the data gathered are of key importance to us are. It allows us to maintain high standards of complaints handling. In periodic surveys of the complaints process, we ask customers about their use of, and satisfaction with, the channels available for contacting the Bank. In the Q4 2025 survey, customers chose digital channels for submitting complaints most willingly (31% PeoPay and 15% Pekao24). 36% of complaints were submitted through the helpline, while only 1 2% opted to submit a complaint in person at a branch. The number of complaints submitted in 2025 for retail banking, private banking and sole trader (JDG) segments totalled 220,066 (in 2024, this value amounted to 205,803). We offer multiple contact channels so that customers can submit complaints in a comfortable way that suits them. At the same time, we ensure that submitting complaints in direct -service channels takes place with full protection of customer data, confidentiality and discretion that builds customer trust. The guidelines contained in the Customer Service Standards Book set out how to act in situations requiring particular care, including how to communicate information that is unfavourable from th e customer’s perspective. In line with these guidelines, we seek to mitigate the risk and customers’ concerns about retaliatory actions. Personal data breach In the case of reports relating to a potential personal data breach, customers may submit requests to the Data Protection Officer via: • the helpline, • directly at a branch, • in writing, • email to: iod@pekao.com.pl, • via electronic banking. Information on contact channels is available on the Bank’s website; additionally, any Branch employee can inform a customer about the possibility of submitting a request and can accept such a request. All requests are forwarded to the Data Protectio n Officer, who keeps statistics of requests from data subjects, the number of incidents (including breaches) and complaints received from the data protection authority. Most correspondence relating to personal data breaches is sent to us electronically, followed by the helpline and paper form. We respond to reported breaches within the deadline, in accordance with GDPR requirements. To date, we have not recorded a complaint regarding failure to provide a response. Information concerning the information clause, which sets out all possible contact routes, is included in every process involving data processing (for external and internal customers), including in th e content of all employee regulations. Actions on material impacts on consumers and end -users, approaches to managing material risks and seizing material opportunities, and effectiveness of such actions [S4-4] We consistently implement actions39 aimed at ensuring equal treatment of all customers – regardless of their life situation, age or origin. In the further part of this document, we present key actions implemented in 2025, linked to topics identified as material in the double materiality assessment process. Customer experience management We place the customer and service quality at the centre of our attention to make contact with the Bank a positive experience. In line with the objective of our Strategy, we will: • monitor customer experience systematically, rather than ad hoc; • develop a service model that reflects changing customer needs; • simplify communications and increase the intuitiveness of digital solutions so that customers choose remote channels as their first contact option with the Bank. As a result of these actions, we expect the NPS indicator to increase to the level assumed in the Strategy. Our aspiration is therefore to be among the top three banks in the NPS ranking in mass-market segments. 39 We provide a description of the implemented activities in accordance with the ESRS requirements. Depending on their nature, w here possible we indicate the financial resources allocated for their implementation. In other cases, we present other resources i nvolved - for example, employee resources or time spent on tasks.
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323 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. At present, we focus on supporting business opportunities that foster the creation of positive value for customers. This mean s that we: • increase customers’ product uptake, • tailor the offering to customers’ needs – user-friendly in everyday use, with fewer formalities and faster processes, • incorporate customer feedback into designed solutions and analyse customer opinions, • simplify content, avoid unnecessary jargon, and write in plain, understandable language, • use various customer contact channels, • build loyalty by recognising long-standing customers, • manage branch traffic to direct customers to the appropriate service desk, • optimise solutions to improve the intuitiveness and accessibility of electronic banking, • improve processes to make loan servicing more convenient and enhance the quality of ongoing loan servicing. Product accessibility for all customers Ensuring accessibility is a priority for us. We want every customer to assess their experience of contact with the Bank positively. We consistently strive to ensure that people with specific needs, including people with disabilities, can use our services freely, regardless of their individual limitations. We have launched a dedicated webpage [Pekao bez barier (Pekao Without Barriers)], which provides detailed information on measures supporting people with specific needs. Our approach to accessibility is also consistent with the assumptions of the Polish Accessibility Act, which sets the standards to which we adapt our products and services in digital and information/communication terms. Digital accessibility We want everyone, regardless of skills or limitations, to be able to use the services and products offered by the Bank fully. We strive to ensure digital accessibility in line with legal requirements and best practice. At the beginning of 2025, the Bank carried out an accessibility audit of mobile and online banking, assessing compliance with the Act of 26 April 2024 on ensuring compliance with accessibility requirements for certain products and services by economic operators, and thus with the international WCAG 2.1 standard. Based on the audit results, we took actions to adapt electronic channels to WCAG requirements: • we add descriptions to non-text content and introduce captions for deaf users in audio-video recordings, • we ensure content is displayed correctly on different devices regardless of type, size and screen format, • we enable text enlargement without loss of clarity and readability issues, • we provide sufficient time to complete actions, without unexpected content changes, • we enable easy keyboard navigation without the need to use a mouse to proceed, across many components of our subpages, • we provide the ability to adjust the volume level of our informational materials independently of system -wide settings, • we do not publish content that could increase the risk of epileptic seizures, • we expanded the branch and ATM finder with additional filters for available accessibility facilities. With a view to ensuring full accessibility, our website and the PeoPay mobile application have been designed so that every user, regardless of their abilities, can use electronic banking functions comfortably. Thanks to the implemented solutions, customers already have access to most Pekao24 service functions with the support of assistive applications such as screen readers. To further raise accessibility standards, we have introduced additional solutions facilitating the use of our services by peo ple with diverse needs, such as: • consistent identification of elements used across electronic channels, • full screen responsiveness, enabling content to be displayed without the need for two -dimensional scrolling, • easy navigation – menu elements and other navigation mechanisms are always in the same place and in the same order,
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324 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. • comfortable use of buttons and other page elements, • no cognitive function tests during authentication. However, we recognise that adapting our website and application is a continuous process, and we continue to work on implementing further improvements so that our solutions best meet the needs of all users. Information and communication accessibility Clear communication with customers is not only a standard for us, but the foundation of trust -based relationships. That is why we prepare documents relating to retail banking products and services in a transparent and accessible way, using language consistent with the plain banking communication standard. At the Bank, we focus on simplicity and clarity of messaging. We communicate in a partner -like manner, meaning that our content is phrased so that it can be understood without additional explanation: • we use friendly language – in documents we use language so that no one has to waste time understanding it, • we use personal forms of address – we do not create distance; we often address customers directly, • we write in an accessible format – we format content clearly, so it is easy to read, • we shorten content – we remove unnecessary words and phrases that only make the text longer, • we are specific – we provide customers with the most important information. At the request of customers with specific needs, we make standard bank document templates available in the following formats: • audio recording, • video recording in Polish Sign Language, • Braille printout, • printout in enlarged font. To ensure the accessibility of our services for all customers, we introduced into internal regulations special provisions governing the conclusion of loan agreements with persons who do not speak Polish. This ensures that every customer , regardless of their language skills, can fully understand the terms of the products offered. Information on available services and the rules for their use has been described clearly and transparently in agreements and regulations, so that it constitutes a legible source of knowledge necessary for informed use of the Bank’s offering. Accessibility also means being able to contact customers at any time, which is why our helpline is available 24 hours a day, 7 days a week at the following phone numbers: • 519 222 222 for Retail and Premium Customers, • 22 591 20 10 for Private Banking Customers. Where necessary, we also provide service in Polish Sign Language in the form of a video call, on business days between 9.00 and 17.00 – [service in Polish Sign Language]. We provide alternative contact methods, such as chat or a contact form, on the Bank’s website – [contact]. Architectural accessibility We want everyone – regardless of mobility limitations – to be able to use our branches and partner outlets. We have prepared information on the architectural accessibility of outlets, which we publish on our website: [outlets and ATMs]. Our customers can also filter the necessary facilities using the following criteria: • accessible for wheelchair users without assistance – the immediate surroundings and service area allow a wheelchair user to move independently; • accessible for wheelchair users with assistance – there are obstacles in the immediate surroundings or service area that mean a wheelchair user requires an assistant or support from our employee; • parking nearby; • parking with designated spaces for persons with disabilities. In addition, guide dogs are allowed to enter all our branches and partner outlets.
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325 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. To better identify customer expectations and present a tailored offer, we use tablets that support the needs identification process. We enable agreements to be signed via the PeoPay mobile application or by SMS, which increases convenience and service accessibility, especially for those who prefer remote forms of contact. Our aim is to create a banking environment in which every customer, regardless of their capabilities, can count on professional, empathetic service tailored to individual needs. ATMs and cash deposit machines We treat access to self -service devices, such as ATMs and cash deposit machines, as an important element of ensuring full accessibility of our services. We want every customer to be able to use these solutions freely and without obstacles. On our website, we have provided a list of ATMs and cash deposit machines in the [outlets and ATMs] tab, including information on location and available facilities, and the ability to filter using the following criteria: • accessible for wheelchair users without assistance – the immediate surroundings allow a wheelchair user to move independently; • accessible for wheelchair users with assistance – there are obstacles in the immediate surroundings that mean a wheelchair user requires an assistant or support from our employee; • contactless transactions – the function is activated by holding the card or phone close to the reader. The course of a contactless transaction is identical to a traditional transaction. All our ATMs and cash deposit machines have Braille markings on the function keys, near the reader, the receipt printer and the cash dispensing area, as well as a tactile mark on the keypad on the “5” key. Complaints about lack of accessibility Anyone who notices that our products or services are inaccessible for any reason may report this to us in the manner described on the [dedicated webpage]. We delivered mandatory training for all Bank employees on supporting people with different needs in accessing products and services, and we implemented a procedure comprehensively regulating the Bank’s activities regarding the accessibility of the retail banking offering. In 2025, we modernised a further 70 branches to adapt their premises for people with specific needs. In each new branch, we installed two ATMs with a cash deposit machine and coffee corners. Access to information One of the key elements of building trust and positive customer experiences is ensuring full, transparent and understandable access to information. We believe that customers should be able to obtain information easily about products, services, terms of cooperation and their rights and obligations. Transparent communication not only supports informed decision -making but also strengthens a sense of security. We base customer communication on the principles of accessibility, clarity and inclusiveness, so that everyone – regardless of age, experience or other circumstances – can use our services freely. We pay particular attention to seniors, for whom we have prepared a dedicated information space on the [Senior Zone] webpage, where we publish practical tips on getting started with online banking. With the youngest users in mind, we offer products tailored to their age and needs, including the PeoPay Kids application for teenagers, equipped with a parental control panel. It enables young customers to learn how to manage their finances in a safe environment and build positive habits, such as saving supported by the “money box” function and an educational game available in the PeoPay app. As part of our educational initiatives, we also developed an in -house report dedicated to financial education for children aged 6 to 13, representing our contribution to building the economic awareness of the youngest generations. For the youngest customers of our Bank who began their journey into the world of finance, in 2025, on the occasion of the 5th anniversary of the PeoPay KIDS application, we prepared a series of six audiobooks “Bajki Oszczędzajki” (Saving Tales), combining education with engaging entertainment – [Bajki Oszczędzajki – Bank Pekao S.A.]. Together with the Universal Reading Foundation, we also developed a children’s book entitled “Porwanie Pani Złotówki” (Kidnapping of Mrs Zlotówka) . It is an engaging adventure that teaches that it is worth being guided by friendship, common sense and honesty, while also explaining what money is and how saving works. The book is available both online and in print form in selected Bank branches – [Czytanie się opłaca (Reading Pays Off – Bank Pekao S.A.]. We also published the report [Finansowy świat dziecka (Financial World of a Child)], which shows how the need for children’s financial education among Poles is increasing.
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326 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. We deliver services within the Pekao Group based on competence, professionalism and responsibility towards customers. The solutions we propose are designed with their real needs in mind and in compliance with consumer protection requirements. We do not use practices that could infringe the collective interests of consumers. We avoid situations in which a customer does not receive reliable, truthful and complete information, in particular information that is key to making an informed decision, such as product price or functionality. We do not allow prohibited contractual clauses, unfair market practices or actions constituting unfair competition. We actively counteract misselling, i.e. offering financial services that do not correspond to the customer’s real needs or ar e presented in a manner that is inadequate to their nature. Our aim is to build relationships based on trust, transparency and responsibility, which translates into high service quality and consumer safety. Transparent product information is our starting point for understanding the topic of “access to information” – we feel responsible for actively supporting the development of financial knowledge in society, including among our customers. Financial education is an integral part of our activities, implemented through various initiatives aimed at increasing awareness and competence i n financial management. We carry out a range of initiatives such as educational programmes, seminars, workshops, information campaigns and thematic guides available on the website, supporting the development of financial competences. These activities focus on issues related to personal finance management and household budgeting, and cover investing, saving, using banking products and applications (e.g. PeoPay), as well as matters related to financial risk. Our goal is to provide practical knowledge that enables customers to make informed financial decisions and build a stable future. Managing potential risks As part of the double materiality assessment, we considered potential risks that may arise in the area of cooperation with customers and consumers. In the course of this work, we identified a risk which – despite a range of measures taken – may still occur. It relates to the possibility of misleading customers, including in connection with free credit sanctions (hereinafter: FCS) and unauthorised transactions. Recently, we have observed a gradual increase in the number of lawsuits and complaints in the FCS area, although their scale remains limited relative to the size of the portfolio. Court proceedings cover approximately 0.15% of agreements in the portfolio and, in most cases – around 88% – judgements are favourable to the Bank. Nevertheless, judgements adverse to the Bank (including, potentially, rulings of the CJEU) may increase the scale of impacts and the number of outcomes unfavourable to the Bank. The Bank takes actions to mitigate this risk, in particular by adapting template agreements and the method of calculating the APRC to the Consumer Credit Act (Article 45 of the Consumer Credit Act – where a lender breaches consumer rights by omitting or including incorrect statutory clauses, the borrower, upon submitting an appropriate request, repays the credit without interest and other credit costs due to the lender). To further reduce SKD exposure, we also take operational and product measures, including: • limiting the scale of new sales with potential FCS risk – the new sales volume carrying SKD risk decreased from 73% in January 2024 to 38% in June 2025. The share of agreements with financed commission also fell from 56% to 2% (short - term small loans with a low level of FCS risk). As a result of pricing policy changes from Q3 2024, the sale of commission- free loans has become dominant. In addition, from 1 August 2025, we introduced new solutions resulting in discontinuation of the sale of new agreements carrying FCS risk, i.e.: - a CPI product with a non-financed monthly premium, which replaced CPI credit insurance withdrawn from sale, - a credit account model enabling commission to be charged without charging interest on it. • refinancing agreements carrying FCS risk from the existing portfolio into new loans (the share of cash loans in the Bank’s portfolio carrying FCS risk fell from 74% in January 2024 to 55% in June 2025). We assume that the pace of the portfolio decline will accelerate in the following quarters due to measures taken to increase the scale of refinancing and the absence of growth in new agreements carrying FCS risk as a result of the discontinuation of sales of new agreements with financed CPI. On 13 February 2025, the Court of Justice of the European Union (hereinafter: the “CJEU”) delivered a judgement in case C - 472/23 concerning aspects of applying the free credit sanction. The ruling highlights the importance of properly informing consumers about the total cost of credit and the annual percentage rate of charge, which may affect the interpretation of provisions applied in domestic proceedings. The allegations most commonly raised against banks in cases concerning consumer credit include, among others: • breach of Article 30(1)(7) of the Consumer Credit Act – indicating an incorrect total amount payable by the consumer determined on the date of concluding the consumer credit agreement and an incorrect APRC, resulting from (in
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327 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. consumers’ view) the unauthorised charging by the Bank of interest on the financed commission for granting the credit (financing and charging interest on the credit granting commission), or on other financed costs; • breach of Article 30(1)(10) of the Consumer Credit Act – failure to show the condition determining a change in credit costs resulting from early repayment of the credit or the application of the free credit sanction. The CJEU judgement, as well as observed changes in the case law of domestic courts, may affect market practices relating to consumer credit in the future. The Bank continuously monitors the situation and implements measures to align processes, documentation and customer communication with applicable laws and consumer expectations. Situations that may pose challenges both for customers and for the organisation are inevitable in dynamic financial services environment. Unauthorised transactions are one such threats – payment transactions to which the payer has not given consent in the manner provided for in the agreement between the payer and the paym ent service provider, e.g. a situation in which a third party (a fraudster) gains access to authentication data and carries out a transaction using it. Although authentication was completed correctly, due to the absence of the customer’s consent to the execution of the transaction, i.e. because third parties (fraud) were involved in carrying out the transaction, such a transaction is considered unauthorised. To enhance customer security and reduce the number of unauthorised transactions, we continued implementing technological, system and organisational solutions in 2025, in particular: • we carried out educational campaigns aimed at customers on threats, fraud methods and ways to avoid them; • we implemented further transaction monitoring functionalities in systems and anti -fraud modules, including new rules identifying suspicious transactions; • we introduced changes to the mobile app to enhance the security of the app activation process. The new process covers both activation of the app on the first device and on subsequent devices; • we implemented a solution enabling the rapid blocking of corporate customers’ payment cards via the online banking service – both by the customer and by the system operator on the Bank’s side; • we implemented a solution to enable strong customer authentication in e-banking for operations involving deactivation of access to internet banking channels; • we implemented a solution to enable strong customer authentication in e-banking for operations involving deactivation of access to internet banking channels; • we implemented a solution in e-banking to introduce access restrictions for functionalities related to cross-border transfers that are not used by customers; • we implemented a mechanism enabling the temporary disabling or limiting of the ability to execute card transactions after “tokenisation”; • we implemented an industry-wide behavioural biometrics solution, under which a customer using the services of one bank offering this solution can be protected across all other institutions using the same industry solution; • observing the direction of changes in the banking sector, we made successive amendments to internal regulations to improve the process for handling unauthorised transactions. As a result of these actions, we increased the level of security for retail and corporate customers and, by implementing more effective detection and prevention mechanisms, we optimised the number of unauthorised transactions. In addition, the initiatives undertaken contributed to improved compliance with sector regulations and recommendations of the Polish Financial Supervision Authority (KNF). Insurance products In 2025, we actively promoted insurance products — i.e. CPI PEX, CPI KH, Life Insurance and Property Insurance — which provide protection for customers, including in situations where, as a result of adverse events affecting the customer, furthe r repayment of a loan or credit would be difficult. We monitor the quality of the insurance products offered with great care, supported by cooperation with reputable insurance companies and regular analysis of customer complaints, refusal rates and claims ratios. In line with the Good Practices for CPI insurance, we also began a process of periodically informing customers about the policies they hold that were purchased through the Bank. This increases customer awareness of the possibility of using the benefits arising from the insurance contracts concluded. In the past year, we introduced significant changes increasing value for the customer – in August 2025 with respect to CPI PEX Insurance, and in October 2025 with respect to Property Insurance.
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328 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. Investment services In 2025, we carried out an extensive training programme aimed at increasing by approximately 1,000 the number of employees holding regulatory authorisations to offer investment funds. As a result, customers in every retail branch have access to the Pekao TFI offering, which is an important step towards improving the quality of financial advice and increasing the availability of investment services. Consumer privacy and data management As part of implementing Security Strategy 7, we undertake actions to enhance customer security in the personal data protection area. We introduce solutions supporting safe use of banking services, including identity verification mechanisms and safeguards for communication with the customer, e.g. by developing functions in mobile apps that support identification of th e employee and the customer, which significantly increases the security of telephone contacts with customers and minimises the risk of customers losing funds as a result of fraud. To reduce the risk of data leakage, we implement security mechanisms aligned with current technological standards, including solutions supporting the safe use of AI technologies. These actions are tailored to the needs of different customer groups, including less digitally advanced customers, seniors and young people. We also carry out educational and communication activities in the area of cybersecurity, including information campaigns and training for customers and employees. To increase awareness of cybersecurity, we run the cyberPEKAO educational programme, which includes, inter alia: • training sessions and webinars for the Bank’s employees and customers, as well as workshops for children, young people and seniors as part of CSR; • organisation of cybersecurity -related events (Cybersecurity Days in Bank branches, the cyberPEKAO Academy – a conference for customers and employees); • sponsorship and partnership at events strengthening social resilience to cyber threats – Cyber24 Day, the IN.SE.CON International Cybersecurity Congress, the Confidence conference; • internal communication (information published on the security portal, news updates, e -mails addressed to employees); • external communication (e.g. CRM, the Bank’s website, social media, notifications in the mobile app, radio broadcasts); • cooperation with the CyberDefence24 portal covering cybersecurity topics, which hosts a dedicated Bank zone; • publication of a cybersecurity comic book for children, issued jointly with the CyberDefence24 editorial team; • publishing cooperation in the field of society’s digital education in projects such as Scamming Out and Entrepreneur’s Educator; • a nationwide educational campaign “cyberPEKAO – a sign that protects” (online campaign + social media); • cooperation with the ISSA Poland Association and support for the “Digital Senior” project, as well as preparation and development of educational materials for seniors. In 2025, we allocated more than PLN 2,900,000 gross (OPEX) to the cyberPEKAO programme. We monitor the effectiveness of the campaigns carried out, inter alia, by analysing reach and audience engagement. We provide customers with information on the principles of data processing and the actions taken in a manner tailored to the communication channel. To mitigate the risk of improper management of customer data, we have appropriate procedures for informing Data Subjects – i.e. individuals to whom the data relate – about potential data protection breaches. We also provide customers with information on how to minimise the adverse effects of such incidents and how to avoid them in the future. In correspondence concerning complaints, we inform Data Subjects about the detailed rules for processing their personal data by the Bank or, where applicable, by BIK (Biuro Informacji Kredytowej – Credit Information Bureau). In addition, the Bank’s Information Security Section analyses feedback received from the Personal Data Protection Office in the context of personal data protection breaches or complaints submitted by data subjects. The primary way we assess the effectiveness of our consumer‑privacy safeguards is by analysing feedback from the Personal Data Protection Office, particularly in relation to the Office’s responses to: • data protection breaches reported by the Bank and the actions taken to remedy their adverse effects; and • complaints submitted to the Office by data subjects and the actions taken in response. We conduct information and awareness‑raising campaigns for customers, for example on online fraud. T The Data Protection Inspector’s Department (DPID) reviews customer communications intended to increase awareness of various forms of fraud, such as phishing.
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329 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. Implementing these actions across the Pekao Group requires significant resources, including qualified staff time and the maintenance of the necessary infrastructure. 13.3.2.2 Metrics and targets Targets for managing material negative impacts, increasing positive impacts and managing material risks and opportunities [S4-5] In our Strategy, we place customer relationships at the centre of our focus. In the context of the ESRS S4 disclosure, the key pillars of the Strategy are Accessibility and Growth. Accessibility: Our goal is to provide convenient access to banking services tailored to individual needs. In the Strategy, we described actions aimed at adapting products and services to the needs of various customer groups. A detailed description of these actions can be found in section [S4-4]. Growth In line with our mission, we support customers at every stage of their lives – from opening their first account to making key financial decisions. Achieving this objective is based on continuously monitoring customer expectations, tailoring our offeri ng to their needs and facilitating access to products. As part of these assumptions, we set the following targets: • Development of products and services for young customers aged under 26 We are expanding our product offering for young customers, tailored to their lifestyle, social relationships and needs at different stages of development. In 2025, our base of young customers under 26 totalled 1,196 million, compared to 1,132 million in 2024. • Increase in the digitalisation rate and mobile engagement of customers – development of remote service We are developing remote service as a mechanism to support customers by enabling convenient and secure use of our products without the need for a physical presence at a branch. In 2025, the share of digital sales was 57%, compared to 52% in 2024.
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330 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. 13.4 Corporate governance-related information – business conduct [ESRS G1] 13.4.1 Managing impacts, risks and opportunities Business conduct policies and corporate culture [G1-1] Ethics and responsibility form the foundation of how we conduct our business and of our organisational culture. Through our business conduct policies, we commit to complying with the highest ethical, legal and social standards, both in internal and external relationships. Documents such as the Pekao Group Code of Conduct , the Polish Bank Association (ZBP) Banking Code of Ethics, as well as procurement policies and rules for cooperation with suppliers, create a coherent system of values that supports a culture of compliance, transparency and sustainable development. These policies not only define the expected attitudes and behaviours of employees and business partners, but also indicate mechanisms for monitoring, reporting and improving processes. Their purpose is to build trust, strengthen corporate governance, and ensure that decisions made within the Pekao Group are aligned with the principles of integrity, responsibility and respect for human rights. Our policies and procedures do not constitute policies within the meaning of the Minimum Disclosure Requirements (MDR-P). They include specific mechanisms to ensure the identification, assessment and remediation of the effects of negative impacts and risks. The Code of Conduct and the Banking Code of Ethics are supported by mandatory training, periodic reviews and reporting to the Management Board and the Supervisory Board. The breach reporting procedure guarantees secure channels, whistleblower protection and remedial actions. In relations with suppliers, we apply the Procurement Policy, the Supplier Code of Ethics and mandatory ESG Forms. Anti-corruption mechanisms, sector exclusions and metrics (e.g. number of trainings, invoice processing time) confirm the effectiveness of the measures taken and the ir tangible impact on reducing risks and strengthening positive effects around corporate governance. Pekao Group Code of Conduct In 2025, we updated the Pekao Group Code of Conduct (hereinafter: the Code of Conduct). It sets out the principles we follow in our day-to-day business operations. It is also our commitment to act in accordance with the highest standards in our relations with co-workers, partners, customers and the broadly understood environment. The princ iples of the Code of Conduct define the framework for our activities relating to: • conducting activities in compliance with legal regulations, internal regulations, supervisory authorities’ recommendations and generally accepted market standards; • creating a working environment based on mutual respect, openness and partnership, in line with ethical principles; • building an aspirational organisational culture based on trust and responsibility, empathy and understanding customer expectations, which are the foundation for building trust-based relationships. In the Code of Conduct, we focus on compliance with the values identified and adopted by the Bank, which guide our day -to- day decisions, define our operating style and shape attitudes consistent with ethical principles. We also underline the importance of corporate governance a s a key element supporting sustainable operations, taking into account environmental and social objectives. The Bank undertakes actions with respect for human rights; fulfils the foundations of our social responsibility through progra mmes supporting local communities; complies with cybersecurity principles by using certified solutions and conducting regular security tests; builds trustworthy and ethical artificial intelligence by applying guideline s on transparency and non -discrimination; and develops competencies in identifying, assessing, controlling and mitigating ESG risks through training and by implementing a system for managing this process. In implementing the principles of the Code of Conduct, as in shaping an ethical culture, a key role is played by the Supervisory Board, the Management Board and the management staff. The provisions of the Code of Conduct are binding on both members of the governing bodies and the Bank’s employees; they also apply to subsidiaries of the Pekao Group and are implemented by them, considering the principle of proportionality and the specific nature of their operations. The Code of Conduct is subject to periodic review carried out by the Compliance Department. Based on information provided by the Compliance Department, the Management Board periodically verifies and assesses compliance with the ethical principles set out in the Code of Condu ct to adapt them to changes in the Bank’s internal situation and external environment. Information on the results of this assessment is provided to the Supervisory Board. Every employee of the Pekao Group is required to familiarise themselves with the Code of Conduct as part of certain mandatory trainings available on the e -learning platform and to confirm this either in writing or in the internal system. In 2025, 13,340 people completed training on the principles of the Code. The training was discontinued on 13 Novem ber 2025 due to the adoption of the new Pekao Group Code of Conduct and the launch of the process to develop training covering the new scope. The scope of training on the principles of the Code of Conduct includes:
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331 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. • mandatory e-learning platform training for new Bank employees; • in-person trainings forming part of the onboarding process for new employees, supporting their integration with the Pekao Group and its shared values from day one. Employees are informed about updates to the Code of Conduct via dedicated internal communications; in addition, they have ongoing access to its content and related training. The Code of Conduct has been published on the intranet on the page dedicated to the Compliance Department, under the “Compliance Culture” tab, as well as on [our website]. Polish Bank Association Banking Code of Ethics The Polish Bank Association (ZBP) Banking Code of Ethics (hereinafter: the Banking Code of Ethics ) is another important business conduct document adopted for use in the Bank by resolution of the Management Board on 27 March 2024. This document sets out ethical principles applicable to the operations of banks, their employees, and the individuals and e ntities through which banks perform banking activities. The Banking Code of Ethics serves as a guide for conducting business ethically and in line with good practices, while supporting the building of trust in the banking sector and its reputation. It refers to good banking practices, ethical standards applicable in the financial industry and the Sustainable Development Goals (SDGs). It takes into account the ne eds of key stakeholders – customers, employees, business partners and local communities – providing for analysis of their feedback and the undertaking of remedial actions. The Banking Code of Ethics was developed by the Banking Ethics Committee at the Polish Bank Association (ZBP) and is publicly available on the ZBP website and on [our website] . The principles of the Banking Code of Ethics were also communicated to the Bank’s employees through internal communications, underlining their importance in the organisation’s day-to-day operations. The Banking Code of Ethics sets out the fundamental values that a bank should follow reliability, integrity, responsibility and transparency. It forms the foundation of relationships with customers, employees, business partners and other financial institutions. It promotes the idea of responsible banking, support for innovation and the development of modern technologies. By introducing and applying the Banking Code of Ethics, we strengthen our organisational culture, relationships with customers, partners and local communities, and we also influence service quality by promoting ethical business decisions. The provisions of the document cover all ZBP member banks, their employees and cooperating entities, taking into account the impact of banking activity on local communities and the environment. Compliance with the Banking Code of Ethics is monitored systematically. The ZBP Banking Ethics Committee prepares periodic reports on banks’ relationships with stakeholders and reviews submitted complaints and claims. In parallel, employee trainings are conducted and the compliance of offered products with the adopted ethical standards is verified. Responsibility for implementation, oversight and compliance with the principles of the Banking Code of Ethics lies with the Supervisory Board, the Management Board and the management staff, who ensure that ethical values form an integral part of the institution’s day-to-day operations. Breach reporting mechanisms and whistleblower protection The Bank has implemented a comprehensive Procedure for reporting breaches (whistleblowing) at Bank Pekao S.A. (hereinafter: the Whistleblowing Procedure), aimed at enabling whistleblowers to report irregularities safely, confidentially and effectively. This procedure supports an ethical culture, compliance with laws and the Bank’s internal standards, and sets out the rules for reporting breaches and protecting reporting persons. The Whistleblowing Procedure covers all employees, co-workers, suppliers, persons performing work for the Bank and other natural persons who may obtain knowledge of breaches in a work -related context. The Management Board is responsible for its adequacy and effectiveness, while the Vice-President of the Bank’s Management Board overseeing the Finance Division is responsible for its day-to-day operation, is the recipient of reports, and regularly (at least once every six months) provides the Supervisory Board with information on material reports. The Supervisory Board performs an annual assessment of the effectiveness of the Whistleblowing Procedure . The Compliance Department supports the Management Board in performing these tasks. Whistleblowers have access to the following independent communication channels enabling confidential reporting of breaches: • email: ZglosNaruszenie@pekao.com.pl, • post: marked “Confidential” and addressed to the designated member of the Management Board or the Chair of the Supervisory Board (if the report concerns a member of the Management Board); • telephone: recorded line +48 22 524 52 98, • an in-person meeting with a Compliance Department employee, at the whistleblower’s request.
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332 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. Reports are verified as follows: the Compliance Department performs an initial assessment of the report, after which designated employee(s) conduct an explanatory investigation. A report is prepared documenting the findings and the course of actions taken. The whistleblower and the person concerned by the report receive feedback on the outcome of the investigation. Where a breach is confirmed, appropriate remedial or disciplinary actions are taken and preventive measures are implemented. Whistleblowers may also report breaches of law within the meaning of Article 3(1) of the Whistleblowers Protection Act to external authorities (e.g. the Ombudsman, CFII, PFSA) and make public disclosures, while retaining protection against retaliation. Persons who receive and verify reports must hold a written authorisation and undertake to maintain confidentiality, including after termination of employment. We guarantee the whistleblower: • consideration of every report, including anonymous reports; • confidentiality of personal data; • a timely, diligent and impartial verification procedure; • information that the report has been received and information on its outcome. The whistleblower, persons assisting with the report and persons connected with the whistleblower are protected. The prohibition of retaliation also applies to unfounded reports, provided they were made in good faith. The burden of proof that actions were not retaliatory rests with the employer. Examples of retaliatory actions prohibited by the Bank include: • termination of employment, reduction in remuneration, being overlooked for promotion; • negative performance appraisal, change of workplace, bullying/mobbing, intimidation; • restricting access to training, hindering finding employment; • infringement of personal rights, including reputation. We offer numerous support measures for whistleblowers, such as psychological assistance, the possibility of remote work, exemption from the obligation to perform work while retaining remuneration, temporary transfer to another position, or transfer to another organisational unit once the validity of the report has been confirmed. We provide mandatory whistleblowing training: • for new employees – within three months of starting work; • for all employees – periodically, at least once every two years. Training may be delivered in electronic form and is intended to ensure familiarity with the Whistleblowing Procedure, as well as to strengthen awareness of the rights and obligations of whistleblowers and persons involved in the process. In 2025, we trained 13,362 people at the Bank. When developing the Whistleblowing Procedure, we took into account the interests of key stakeholders by adopting solutions that address their needs, concerns and expectations. The implementation of a transparent and effective Whistleblowing Procedure is an expression of our responsibility and strengthens the Bank’s reputation as an ethical and transparent institution. The Whistleblowing Procedure refers to external legal acts such as: • the Whistleblowers Protection Act – the main legal act governing the rules for reporting breaches and protecting whistleblowers in Poland; • the Act on Counteracting Money Laundering and Terrorist Financing – in relation to the obligation to report breaches in this area; • the Banking Law Act – regulations on banking activity together with implementing regulations, i.e. the regulation on the risk management system, internal control system and remuneration policy in banks; • the Act on Trading in Financial Instruments together with implementing regulations, i.e. the regulation on detailed technical and organisational conditions for investment firms, state-owned banks conducting brokerage activity, banks referred to in Article 70(2) of the Act on Trading in Financial Instruments, and custodian banks, as well as the Act on Supervision of the Capital Market – in the context of compliance with the financial market; • the MAR Regulation (Market Abuse Regulation) – EU Regulation No 596/2014 on market abuse.
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333 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. We make the procedure available on the Bank’s intranet, while information on the Procedure for reporting breaches (whistleblowing) at Bank Pekao S.A. has been made available on our [website]. Natural and legal persons seeking to cooperate with the Bank become familiar with it at the recruitment or negotiation stage. Guided by the principles of social responsibility and care for employee well -being, we have also implemented an internal Procedure for preventing bullying (mobbing), discrimination, harassment and other undesirable behaviours (hereinafter: the Anti-bullying Procedure ). Its purpose is to effectively prevent and eliminate any forms of improper treatment in the work environment, including behaviours that violate personal dignity and undermine a climate of cooperation and mutual respect. This procedure supports the Bank’s organisational culture based on the values: STRAIGHTFORWARDLY, TOGETHER, BOLDLY, RESPONSIBLY, WITH DETERMINATION, OPENLY and HONESTLY, and constitutes an important element of the ethics management and social risk management system. The document applies to all Bank employees, regardless of position, and applies in all work-related situations, both at the place of work and during secondments or business travel. The procedure provides for no exclusions, which underlines its universal nature and importance for the entire organisation. Responsibility for implementation and oversight of compliance with the provisions lies with the employer, represented by the Director of the People, Organisation and CX Division. As part of the monitoring mechanisms, the Director of the People, Organisation and CX Division is required to report annually to the Bank’s Management Board on the implementation of the Procedure. Documentation from the work of the committee appointed to review complaints is retained for three years. The Anti -bullying Procedure fulfils obligations arising from the Labour Code, in particular: Article 94(2b) – counteracting discrimination, and Article 943 § 1 – counteracting bullying (mobbing). It also takes into account the interests of the Bank’s key stakeholders, i.e. employees, by protecting their dignity and ensuring safe channels for reporting complaints, as well as witnesses and committee members, by protecting them against retaliatory actions. We make the document available on the intranet, and each employee is obliged to familiarise themselves with its content and confirm this by signing a statement. Supplier relationship management [G1-2] Cooperation with suppliers – regardless of the scale of their operations – is of key importance to us. Each partner is selected transparently, in accordance with our procedures, market best practices and applicable law s. We do not have a dedicated policy for preventing payment delays. Procurement Policy In the Bank, procurement processes are governed by three primary internal documents: the Procurement Policy of Bank Polska Kasa Opieki S.A. (hereinafter: the Procurement Policy), the Rules for procurement conducted by the Procurement Department (updated in January 2026), and the Rules for procurement conducted without the involvement of the Procurement Department (updated in March 2025). The Procurement Department is responsible for implementation, management and monitoring of these policies, as well as for improving procurement processes. The Procurement Policy is a tool for implementing the strategic vision for the development of the procurement function and ensures transparency, compliance with ESG principles and uniform standards for procurement proceedings. This policy governs the organisation and oversight of procurement processes in the Bank and covers the entire procurement cycle – from procurement planning, through supplier selection, contract execution and supplier cooperation, to reporting and monitoring of results. Oversight of th ese processes is exercised by the Procurement Department, which is responsible for process management, monitoring effectiveness, improvement, initiating cooperation and setting performance indicators. After each contract is completed, an assessment is carr ied out jointly by the Contract Administrator and the Buyer. In addition, the Management Board receives a quarterly report covering all procurement processes conducted by the Bank. The Procurement Policy takes into account the interests of: • suppliers – through clear rules of cooperation, a procurement platform and the supplier zone; • the Bank’s organisational units – through support, guidelines and procurement tools; • the Capital Group – through joint projects, benchmarking and cost synergies; • society and the environment – through the implementation of ESG principles. We make the Procurement Policy available on the Bank’s intranet. Documents and communications related to Procurement Processes are published in the [Supplier Zone].
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334 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. Supplier Code of Ethics In the Supplier Code of Ethics of Bank Pekao S.A. (hereinafter: the Supplier Code of Ethics), we set out the rules for cooperation with suppliers and their subcontractors. In this way, we promote social responsibility, transparency, sustainable development , respect for human rights and the principles of business ethics. The purpose of the Supplier Code of Ethics is to ensure that suppliers act in accordance with the Bank’s values and support its ESG strategy. The document contains no explicit exclusions but requires the supplier to submit a statement confirming that they have read it and undertake to comply with its principles. In accordance with the Supplier Code of Ethics , the Bank may identify potential breaches and take corrective actions, which ensures the effectiveness of the implemented principles. Under the Supplier Code of Ethics, we expect our partners to meet specific criteria in individual ESG areas: • Environment: - holding valid permits, licences, notifications, declarations, agreements and decisions relating to environmental protection in connection with their operations; - timely payment of environmental charges for use of the environment; - compliance with relevant environmental reporting requirements; - striving to minimise the adverse environmental impact of their operations; - efficient resource management; - reducing the consumption of materials and raw materials; - managing waste in accordance with applicable legal requirements; - undertaking actions aimed, inter alia, at reducing greenhouse gas emissions within the organisation and its supply chain and related disclosures; - promoting environmental protection actions. • Social factors: - employees’ right to terminate employment at any time; - prohibition of any forms of forced labour, child labour and employee discrimination; - timely payment of remuneration and compliance with rules on deductions from remuneration; - counteracting bullying (mobbing) and discrimination in the workplace; - the right to freedom of association, collective bargaining and choosing representatives in accordance with the law; - monitoring and assessment of employees’ exposure to health and safety hazards, including harmful chemical, biological, physical and ergonomic factors; - providing personal protective equipment and information on risks arising from OHS hazards and fire safety regulations. • Corporate Governance: - protection of legally protected information; - timely settlement of financial obligations; - counteracting corruption; - counteracting money laundering and the financing of terrorism and criminal activity; - consumer protection; - maintaining professional secrecy and business secrecy; - protection of personal data; - antitrust prevention; - applying the principles of fair competition; - counteracting conflicts of interest; - protection of intellectual property and transfer of technology and know -how.
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335 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. In the Supplier Code of Ethics , we take into account the interests of key stakeholders by, inter alia, promoting fair working conditions, counteracting discrimination, bullying (mobbing) and child labour among our suppliers’ employees, supporting social initiatives for local communitie s, requiring actions for environmental and climate protection, and ensuring compliance with laws and ethical principles towards the Bank’s customers. In the area of counteracting discrimination and bullying, compliance with these requirements is additionally verified through questions included in ESG Forms completed by suppliers each time as part of procurement proceedings. In addition, the document refers to: the Ten Principles of the United Nations Global Compact (human rights, anti -corruption, environmental protection), t he Pekao Group Code of Conduct and the Bank Pekao Strategy. Responsibility for managing t he Supplier Code of Ethics arises from the Bank’s internal regulations and is assigned to the Procurement Department wi thin the Finance Division. We make its full text available on our website under [Corporate governance]. The Supplier Code of Ethics is a guiding document, and to obtain information on sustainable development criteria we use ESG Forms completed based on the supplier’s self-classification depending on the definition applicable to the enterprise. ESG Form By introducing a requirement to complete an ESG Form for all procurement proceedings, regardless of their value or the size of the potential supplier, we clearly emphasise the importance of actions in support of sustainable development, environmental protection and respect for human rights throughout the sup ply chain. Enforcing this requirement expresses responsibility towards business partners and the social environment, while at the same time enabling ongoing monitoring of compliance with the adopted standards without identifying material risks in this area. ESG Forms for large, medium, small and micro enterprises are used to: • assess suppliers’ level of engagement in sustainable development activities; • verify compliance with the Code of Ethics; • obtain information on policies, procedures and practices applied by suppliers in the environmental, social and corporate governance areas; • manage ESG risk in the Bank’s supply chain; • support transparency and accountability in business relationships. Rules for procurement conducted by the Procurement Department The Rules for procurement conducted by the Procurement Department (hereinafter: the Procurement Rules ) are a comprehensive document governing the entire procurement process, from planning needs to finalising the order and acceptance of deliveries/services/works. Their main purpose is to ensure consistency, transparency and compliance with the Bank’s procurement policy, as well as adherence to ESG standards in the supply chain, operational efficiency and control of procurement risks. This document not only descr ibes the specific stages of the process, but also defines the roles and responsibilities of participants, including the Procurement Department, substantive units and the Management Board. The procurement process begins with planning, which is carried out cyclically and reported to the Management Board. Next, requisitions are submitted, which are analysed and approved. Supplier selection is based on recommendations and evaluation of bids, using tools such as an evaluation sheet that includes formal, commercial and substantive criteria. The entire process is documented in the form of a supplier selection recommendation, and any deviations from procedures are reported to the appropriate control units, such as the Audit Department or the Bank Security Centre. The Procurement Rules apply to all procurements carried out by the Procurement Department, except those covered by separate procedures – e.g. procurements up to PLN 100,000 net, emergency procurements, technical procurements, procurements from electronic catalogues, or those r elated to outsourcing and real estate. The document provides that the Director of the Procurement Department is responsible for implementation and interpretation of the rules, while the Management Board approves procurement decisions i n strategic areas such as outsourcing or consultancy services. An important aspect of the Procurement Rules is their integration with group policies and external standards. Procurement proceedings require the use of ESG Forms, the Supplier Code of Ethics, Anti -corruption Rules and the Whistleblowing Procedure. EBA, DORA and GDPR guidelines are also taken into account. This ensures that the procurement process not only meets formal requirements but also supports sustainable development and social responsibility objectives. We make the Rules available on the intranet together with document templates, instructions and communications. In this way, we create a coherent system that enables effective procurement management in a large financial institution while maintaining high ethical, operational and regulatory standards. Rules for procurement conducted without the involvement of the Procurement Department The Rules for procurement conducted without the involvement of the Procurement Department differ from the rules applicable to procurements conducted by that department primarily in terms of scope of application, the degree of procedural regulation and control mechanisms. Procurement without the Procurement Department primarily concerns lower-value transactions – up
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336 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. to PLN 100,000 net – and those included on a list of subject -matter exclusions, such as procurements related to HR, taxes, donations or trainings. Unlike the full procurement process, these procurements are simplified and operational in nature, allowing the Bank’s organisational units greater autonomy in meeting procurement needs. Requisition registration takes place only in selected cases, and budget control is carried out by the budget owner or the project manager. For procurements with a value exceeding PLN 10 million net, approval by the Management Board is required. Responsibility for executing the procurement lies with the organisational units managing projects or budgets, while the Procurement Department plays an interpretative role. Training on the Procurement Policy, the Procurement Rules and the Integrated Procurement Tool (Procurement Platform) is delivered in the Bank by the Procurement Department. This training is intended to provide Bank employees with appropriate knowledge enabling them to understand the rules governing procurement pr ocesses. We want to ensure that they can apply internal regulations in practice and navigate the Integrated Procurement Tool environment, and that they are aware of their role and responsibility in the procurement process, acting in accordance with the principles of transparency and ESG compliance. The training is addressed to internal customers, i.e. employees who submit training requests, budget owners responsible for financing procurements, members of procurement teams (participants in proceedings), Procurement Department employees involved in implementing procedures, and supporting units such as the Financial Planning Department, the Legal Department or the Bank Security Centre. We deliver training in the form of e-learning, in-person or online workshops, as well as onboarding trainings for new employees. Training may be mandatory for specific roles, such as buyers or internal customers. The Procurement Department may also initiate training as part of process improvement. In 2025, 367 employees were trained during dedicated sessions delivered by Procurement Department staff. In addition, 235 employees completed training in the e-learning system. Organisational culture Responsibility for strengthening our organisational culture lies with a dedicated unit – the Organisational Culture Office within the HR Strategy Centre. This is where initiatives are developed and delivered to promote the Bank’s values and support the development of our organisational culture. The implementation of individual activities is closely aligned with the Bank’s current needs – both strategic and those arising from employees’ feedback expressed in surveys (in 2024: the Employee Engagement and Satisfaction Survey, the Collaboration Survey and the Psychophysical Well -being Survey; in 2025: preparations for the Organisational Health Survey) as well as in questionnaires conducted after events such as the World Values Day or Children’s Day. The foundation of the Bank’s organisational culture is its values and behaviour that stem from them, as well as employees’ everyday rituals and attitudes – rather than formalised guidelines. STRAIGHTFORWARDLY, TOGETHER, BOLDLY, RESPONSIBLY, WITH DETERMINATION, OPENLY and HONESTLY – these are the values on which we base our efforts to build the Bank’s culture. The values are embedded in the Strategy. They are consistently reflected in email communications to employees, during business and sports meetings, an d in materials published on the intranet and in company newsletters. Their importance is also emphasised when presenting financial results, implementing new projects and in HR activities. Topics related to organisational culture are also raised by the Management Board and highlighted during events aimed at employees. One example was the Town Hall held on 26 May 2025, during which members of the Management Board held a dialogue with employee s about the updated catalogue of values. The topic of values, attitudes and behaviours is present in our communications – during presentations of quarterly and annual results, in reports of the People, Organisation and CX Division, and in the Management Board’s day-to-day engagement with employees. Other value-related initiatives are described in section [S1-1]. We support the promotion of attitudes consistent with our values through various forms of recognition. We reward employees through dedicated competitions and challenges, and in 2025 we incorporated the values into the employee performance appraisal process – employees’ behaviours are assessed for alignment with the values. We also run a range of educational programmes that support the development of organisational culture and promote values, including: • a series of online trainings for managers and employees focused on the practical application of values in day-to-day work; • the “Mission: Development” programme – aimed at employees with high development potential; • the “Sugar Free” programme for women – supporting women’s professional and personal development within the organisation; • an onboarding programme – introducing new employees to the culture and values from their first days at work.
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337 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. We provide space for sharing feedback and submitting suggestions related to organisational culture. The Bank has a dedicated email inbox to which any employee can send a message – whether a question, an idea or an opinion on activities in the area of organisational culture. Minimum reporting requirements for policies in the area of business conduct: Preventing and detecting corruption and bribery [G1-3] Within the Pekao Group, we take a firm stance against any forms of corruption and situations that could facilitate it. We do not tolerate corrupt conduct, regardless of whether it is undertaken by Bank employees or by persons or entities merely connected with the Bank. This includes offering, promising, requesting, giving or receiving so-called facilitation payments (small, unofficial payments made to expedite routine actions) by employees or other persons. The Anti-corruption Policy in the Bank Pekao S.A. Group adopted by the Management Board (hereinafter: the Anti -corruption Policy) is the comprehensive set of principles, procedures and mechanisms we use to effectively prevent, detect and address cases of corruption and bribery in our organisation. This document is an integral part of the compliance and risk management system within the Pekao Group and applies to all Bank employees and every area of our operations. We make the content of this policy availabl e to all employees in the intranet repository of internal regulations. We plan to review and update this regulation soon. POLICY NAME IRO APPROVING BODY SCOPE/EXCLUSIONS Pekao Group Code of Conduct Corporate culture Management Board Group Polish Bank Association Banking Code of Ethics Corporate culture General Meeting of the Polish Bank Association (ZBP) the Bank and the Bank’s environment – customers, partners, local communities Whistleblowing procedure in Bank Pekao S.A. Whistleblower protection Management Board the Bank, co-workers, suppliers and other natural persons who may obtain knowledge of breaches in a work- related context Procedure for preventing mobbing, discrimination, harassment or other undesirable behaviour at Bank Polska Kasa Opieki Spółka Akcyjna Corporate culture: Whistleblower protection President of the Management Board Bank Anti-corruption policy in the Bank Pekao S.A. Group Corruption and bribery: prevention and detection of corruption, including training; incidents of corruption and bribery Management Board Group Bank Pekao S.A. Supplier Code of Ethics Supplier relationship management, including payment practices Management Board Bank Procurement Policy in Bank Polska Kasa Opieki Spółka Akcyjna Supplier relationship management, including payment practices Management Board Bank Rules for procurement conducted by the Procurement Department at Bank Polska Kasa Opieki S.A. Supplier relationship management, including payment practices Management Board Bank Rules for procurement conducted without the involvement of the Procurement Department at Bank Polska Kasa Opieki Spółka Akcyjna Supplier relationship management, including payment practices Management Board Bank
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338 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. In the areas identified, the Anti-corruption Policy requires anti-corruption assessments to be carried out for specific events that may bear the hallmarks of corruption. Employees should continuously assess events in which they participate or with which they come into contact for potential corruption risks. Anyone who becomes aware of an attempted act of corruption or conduct bearing the hallmarks of corruption is required to report it to the Anti-Corruption Officer (hereinafter: the Officer). We identify the main areas of corruption risk as situations and processes where there is an increased likelihood of irregularities or abuses, including: • receiving/giving gifts; • using intermediaries’ services; • using contractors’ services; • the recruitment process; • granting/receiving donations and sponsorship; • the Bank’s participation in public procurement procedures; • mergers and acquisitions (M&A) transactions; • significant investments. In addition, the Bank operates an Anti-corruption Programme, which includes i.a. the development of procedures for high -risk areas (e.g. gifts, intermediaries, contractors, recruitment, donations, public procurement, M&A transactions). It assumes rol e- based and electronic training, the implementation of control mechanisms and reporting to the Bank’s Management Board. With respect to vetting entities cooperating with our Bank, this includes corruption risk assessments for intermediaries and contractors, veri fication of beneficiaries of donations and sponsorship, risk assessment in public procurement, and a due diligence procedure in M&A transactions. As part of preventive measures, we have implemented several rules of conduct, including: • a prohibition on any corrupt conduct by Bank employees; • a prohibition on facilitation payments; • an obligation to assess corruption risk in day-to-day operations; • protection for employees reporting cases of corruption. The process for detecting corruption incidents is based on a reporting system and incident analysis. Employees are required to report attempted corruption to the Officer, the Director of the Compliance Department and, in the case of an attempted bribe, to law enforcement authorities. Employees who refuse to participate in conduct bearing the hallmarks of corruption or who report its occurrence or attempted occurrence by other persons or entities are fully protected, even if their actions expose the Bank to losses. Enforcement of the Anti-corruption Policy is supported by the Compliance Department, including the registration of reports, risk analysis, incident assessment and monitoring of the implementation of recommendations. The Compliance Department provides the Management Board with periodic reports, including the number of reports. The Officer plays a key operational role in the Pekao Group’s anti -corruption system. This function may only be performed by persons with appropriate professional qualifications employed in the Compliance Department – a unit independent from business structures, with the appropriate status in line with Recommendation 12 of the Polish Financial Supervision Authority’s Recommendation H. The Officer is responsible for analysing and assessing reports concerning potential corruption incidents, issuing opinions an d recommendations, monitoring the implementation of remedial measures and reporting to the Management Board. The Officer cooperates with the Legal Department and the Bank Security Centre but does not report to the units concerned by the report. Within the scope of their powers, the Officer has the right to access information necessary to perform their tasks, obtain support from employees of relevant organisational units, and request additional explanations or documents from the applicant, which the applicant is obliged to provide. All reports and requests are registered in the Bank’s dedicated IT system, which centralises anti-corruption-related data and enables management information to be prepared. Where a corruption risk is identified, the Officer issues recommendations on further actions, and the person responsible for implementing them reports on how those recommendations have been carried out. It is worth noting that the Officer’s remuneration is not linked to the Bank’s financial performance, which further strengthens the Officer’s independence.
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339 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. We regard the independence of persons conducting corruption investigations as the foundation of an effective anti -corruption system. By clearly separating investigative functions from management structures that may be involved in a case, we ensure the impartiality and efficiency of the process. Where a corruption risk is identified, the remedial measures indicated by the Anti- Corruption Officer apply, and their implementation is monitored by relevant units. These solutions allow ongoing adjustment of operational practices to identified needs and reduce the risk of recurrence of irregularities. In addition, the Anti-corruption Policy ensures that persons conducting investigations are not linked to the units covered by the report, operate independently of management structures, have the necessary competencies and have access to tools enabling an objective assessment of corruption risk. The process of identifying corruption events takes place within units substantively responsible for the relevant area, while the explanatory proceedings are conducted by the Officer – in some cases in cooperation with the Bank Security Centre. To ensure objectivity, we have deliberately separated the identification and verification functions. The anti-corruption system is based on the following independence mechanisms: • incident reports are routed outside the operational structure – to independent units; • risk analyses are carried out by persons not involved in the processes concerned by the report; • in the event of a negative opinion from the Officer, only the President of the Management Board may decide to continue cooperation with a given intermediary; • the Officer oversees the implementation of recommendations. After detecting an actual corruption incident, we take appropriate actions, including notifying the police or the public prosecutor’s office, notifying the Officer, and cooperating with the Office for Analysis and Counteracting Transaction Fraud. If a corruption risk is identified after an M&A transaction has been completed, we recommend implementing the mechanisms of the Anti-corruption Policy, the implementation of which is monitored by the Officer. In the event of a negative opinion from the Officer, only the President of the Management Board may decide to continue cooperation with an intermediary or within public procurement. In the Anti-corruption Policy, we have defined the procedure for reporting investigation results to administrative, management and supervisory bodies. This procedure is based on the principles of transparency and accountability and includes the following stages: • Registration Reports concerning corruption are registered in the Compeo system maintained by the Compliance Department. Documentation is retained in accordance with the personal data retention policy. • Reporting to the Management Board The Compliance Department provides the Management Board with a quarterly activity report, which may include, inter alia, the number of reports, analysis outcomes, implemented remedial measures and systemic risks, where such information is relevant to the given report. • Reports on M&A and investments In the case of M&A transactions or significant investments, the team responsible for the transaction prepares a corruption ri sk analysis report. The report contains an opinion on the corruption risk associated with the transaction and may indicate measures for managing that risk. Anti-corruption training covers all Bank employees, regardless of position. New members of the Supervisory Board receive basic information about the Bank’s anti -corruption process. New employees participate in training as part of onboarding and then cyclically – every two years. Training is delivered in the form of: • role-based training (at the workplace); • electronic training (e-learning); • dedicated training tailored to the specifics of organisational units and the subject matter. The training covers the following topics: • basic information about corruption, the Corruption Perceptions Index, examples of corrupt conduct, risk management principles, and areas particularly exposed within the Pekao Group;
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340 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. • use of intermediaries, gifts and entertainment, recruitment processes, cooperation with contractors, donations and sponsorship, M&A transactions, public procurement; • procedures for actions by public authorities at company premises, criminal liability for corruption offences, standards and good practices, and a knowledge test. E-learning is delivered once as part of the onboarding process and subsequently in line with the recurring schedule. In addition, in response to needs reported by organisational units, we also organise topical training sessions. In 2025, we updated and launched the anti-corruption e-learning. Anti-corruption training was completed by 13,287 people (in 2024 – 12,869 people), representing 99.5% of the Bank’s employees. At the Bank, we do not differentiate positions i n terms of susceptibility to corruption – we recognise that any employee may be exposed to corruption risk. Moreover, we analyse the need for further changes to the anti-corruption policy and consider making appropriate amendments. In the case of subsidiaries of the Bank Pekao S.A. Group, their employees are not covered by the Bank’s e-learning. However, the companies receive information about changes to the Anti -corruption Polic y together with recommendations for implementation, taking into account the specifics of their operations. The Policy provides for a training obligation and for the relevant application of its provisions in subsidiaries. We communicate the Anti-corruption Policy in a multi-channel and systematic manner to ensure its accessibility, understanding and effectiveness among those for whom it is relevant. The key provisions of the Anti-corruption Policy are publicly available on [our website]. Employees have access to reporting systems and forms as well as the full text of the document in the internal system. In the event of incidents or doubts, employees may contact the Officer. 13.4.2 Metrics and targets Objectives for supplier cooperation In the Strategy, which is currently in force, we set a target whereby 90% of suppliers participating in procurement processes should declare compliance with the Supplier Code of Ethics. At the end of 2025, the result was 97.93%, and it is monitored annually by the Strategy and Risk Development Department and the ESG function. The target was defined in 2025; therefore, we do not present comparative data for 2024. Incidents of corruption or bribery [G1-4] In 2025, there were no cases where convictions or fines were imposed on our Bank or its employees for breaches of anti - corruption regulations and anti-bribery provisions. We also recorded no court cases involving the Bank or its employees relating to corruption or bribery. In 2025, the Bank made no donations to external entities, except for funds transferred to the Bank Pekao S.A. Foundation for its operations, which also include sponsorship and donations. Payment practices [G1-6] Fair and transparent business relationships, timely settlement of liabilities and favourable commercial terms are a priority for our organisation. Although there is currently no single, formalised payment policy for the entire Group, financial liabilitie s are settled in accordance with the provisions of individual agreements with suppliers. According to the analysis of data from IT systems, the average payment processing time measured from the moment the invoice is received until the day it is paid amounted to 21.34 days in 2025 (compared to an average of 17.92 days in 2024). We do not have a policy defining standard payment terms (in number of days) therefore, we do not report the percentage of invoices paid in accordance with such terms broken down by main supplier categories. Since we do not have established standard payment terms, we are u nable to provide the average number of days of invoice payment delays. T he absence of any new legal disputes with suppliers initiated in 2025 regarding payment delays may indicate that such delays are of a purely technical nature. In 2025 we have recorded one legal proceeding concerning payment delays, which had already been disclosed in the Statement for 2024. It is pending before the court of first instance and concerns claims related to late payment of lease ren t for a property whose right of use the Bank previously disposed of.
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341 Report on the Activities of the Bank Pekao S.A. Group for 2025 Bank Pekao S.A. 17.02.2026 Cezary Stypułkowski President of the Bank’s Management Board The original Polish document is signed with a qualified electronic signature Date Name/Surname Position/Function Signature 17.02.2026 Marcin Gadomski Vice President of the Bank’s Management Board The original Polish document is signed with a qualified electronic signature Date Name/Surname Position/Function Signature 17.02.2026 Łukasz Januszewski Vice President of the Bank’s Management Board The original Polish document is signed with a qualified electronic signature Date Name/Surname Position/Function Signature 17.02.2026 Michał Panowicz Vice President of the Bank’s Management Board The original Polish document is signed with a qualified electronic signature Date Name/Surname Position/Function Signature 17.02.2026 Robert Sochacki Vice President of the Bank’s Management Board The original Polish document is signed with a qualified electronic signature Date Name/Surname Position/Function Signature 17.02.2026 Błażej Szczecki Vice President of the Bank’s Management Board The original Polish document is signed with a qualified electronic signature Date Name/Surname Position/Function Signature 17.02.2026 Dagmara Wojnar Vice President of the Bank’s Management Board The original Polish document is signed with a qualified electronic signature Date Name/Surname Position/Function Signature 17.02.2026 Marcin Zygmanowski Vice President of the Bank’s Management Board The original Polish document is signed with a qualified electronic signature Date Name/Surname Position/Function Signature
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This document is not an official version of Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025. In case of any doubt or discrepancy, the official version of Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 prepared in accordance with the requirements of the ESEF and available on the Bank's website shall prevail. This document is a free translation of the Polish original. Terminology current in Anglo -Saxon countries has been used where practicable for the purposes of this translation in order to aid understanding. The binding Polish original should be referre d to in matters of interpretation. Warsaw, February 2026 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 202 5
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2 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) I. Consolidated income statement ...................................................................................................................................... 4 II. Consolidated statement of comprehensive income ...................................................................................................... 5 III. Consolidated statement of financial position ................................................................................................................ 6 IV. Consolidated statement of changes in equity ............................................................................................................... 7 V. Consolidated cash flow statement .................................................................................................................................. 9 VI. Notes to the consolidated financial statements .......................................................................................................... 11 1. General information ........................................................................................................................................................ 11 2. Group structure ............................................................................................................................................................... 11 3. Statement of compliance ................................................................................................................................................ 13 4. Significant accounting policies ..................................................................................................................................... 17 4.1. Basis of preparation of Consolidated Financial Statements ...................................................................................... 17 4.2. Consolidation .................................................................................................................................................................. 18 4.3. Foreign currencies .......................................................................................................................................................... 19 4.4. Valuation of financial assets and liabilities .................................................................................................................. 19 4.5. Significant estimates and assumptions ....................................................................................................................... 25 5. Operating segments ....................................................................................................................................................... 26 6. Interest income and expense ......................................................................................................................................... 29 7. Fee and commission income and expense .................................................................................................................. 30 8. Dividend income ............................................................................................................................................................. 32 9. Result on financial assets and liabilities measured at fair value through profit or loss and foreign exchange result ................................................................................................................................................................................. 32 10. Result on derecognition of financial assets and liabilities not measured at fair value through profit or loss ..... 33 11. Net allowances for expected credit losses ................................................................................................................... 33 12. Other operating income and expenses ......................................................................................................................... 34 13. General administrative expenses and depreciation .................................................................................................... 35 14. Share in gains/losses on associates ............................................................................................................................ 36 15. Income tax........................................................................................................................................................................ 37 16. Earnings per share .......................................................................................................................................................... 41 17. Dividends ......................................................................................................................................................................... 41 18. Cash and cash equivalents ............................................................................................................................................ 41 19. Loans and advances to banks ....................................................................................................................................... 42 20. Derivative financial instruments (held for trading) ...................................................................................................... 42 21. Hedge accounting ........................................................................................................................................................... 47 22. Loans and advances to customers (including receivables from finance leases) .................................................... 53 23. Securities ......................................................................................................................................................................... 56 24. Assets pledged as security for liabilities ..................................................................................................................... 58 25. Assets held for sale ........................................................................................................................................................ 59 26. Investments in associates .............................................................................................................................................. 60 27. Intangible assets ............................................................................................................................................................. 61 28. Property, plant and equipment ...................................................................................................................................... 64 29. Other assets .................................................................................................................................................................... 67 30. Amounts due to other banks ......................................................................................................................................... 67 31. Financial liabilities held for trading ............................................................................................................................... 67 32. Amounts due to customers ............................................................................................................................................ 68 33. Debt securities issued .................................................................................................................................................... 68 34. Subordinated liabilities ................................................................................................................................................... 69 35. Provisions ........................................................................................................................................................................ 70 36. Other liabilities ................................................................................................................................................................ 72 37. Defined benefit plans ...................................................................................................................................................... 72 38. Share-based payments ................................................................................................................................................... 74 39. Leasing ............................................................................................................................................................................. 76 40. Contingent liabilities and legal claims .......................................................................................................................... 79 41. Equity ............................................................................................................................................................................... 81 42. Non - controlling interests ............................................................................................................................................. 83 43. Additional information to the consolidated cash flow statement .............................................................................. 84 44. Related party transactions ............................................................................................................................................. 85 45. Risk management and fair value ................................................................................................................................... 92
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3 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) 45.1. Organizational structure of risk management ........................................................................................................... 92 45.2. Credit risk ...................................................................................................................................................................... 92 45.3. Legal risk regarding foreign currency mortgage loans in CHF ............................................................................. 152 45.4. Market risk ................................................................................................................................................................... 155 45.5. Liquidity risk ................................................................................................................................................................ 158 45.6. Operational risk ........................................................................................................................................................... 160 45.7. Climate risk .................................................................................................................................................................. 161 45.8. Capital management ................................................................................................................................................... 162 45.9. Fair value of financial assets and liabilities ............................................................................................................. 165 46. Other disclosures required by law .............................................................................................................................. 172 47. Subsequent events ....................................................................................................................................................... 172 Glossary ............................................................................................................................................................................................ I
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4 Bank Pekao S.A. Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) I. Consolidated income statement NOTE 2025 2024 Interest income and similar to interest 6 19 215 18 810 Interest income calculated using the effective interest method 18 360 17 918 Income similar to interest 855 892 Interest expense 6 (5 522) (6 081) Net interest income 13 693 12 729 Fee and commission income 7 4 116 3 731 Fee and commission expense 7 (962) (877) Net fee and commission income 3 154 2 854 Dividend income 8 34 30 Result on financial assets and liabilities measured at fair value through profit or loss and foreign exchange result 9 346 429 Result on derecognition of financial assets and liabilities not measured at fair value through profit or loss 10 102 15 Net allowances for expected credit losses 11 (760) (883) Costs of legal risk of foreign currency mortgage loans 45.3 (664) (669) Other operating income 12 249 215 Other operating expenses 12 (413) (223) General administrative expenses and depreciation 13 (6 775) (6 381) Share in gains/losses of associates 14 (5) 7 PROFIT BEFORE INCOME TAX 8 961 8 123 Income tax expense 15 (1 942) (1 744) NET PROFIT 7 019 6 379 1. Attributable to equity holders of the Bank 7 015 6 376 2. Attributable to non-controlling interests 4 3 Earnings per share (in PLN per share) basic for the period 16 26.73 24.29 diluted for the period 16 26.73 24.29 Notes to the financial statements presented on pages 1 1 – 172 constitute an integral part of the consolidated financial statements.
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5 Bank Pekao S.A. Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) II. Consolidated statement of comprehensive income NOTE 2025 2024 Net profit 7 019 6 379 Other comprehensive income (net) Items that are or may be reclassified subsequently to profit or loss: Impact of revaluation of debt financial instruments and loan measured at fair value through other comprehensive income (net): 41 322 132 profit/loss on fair value measurement 397 157 profit/loss reclassification to income statement after derecognition (75) (25) Impact of revaluation of derivative instruments hedging cash flows (net): 21 816 68 profit/loss from the fair value measurement of financial instruments hedging cash flows in the part constituting effective hedging 506 (479) profit/loss on financial instruments hedging cash flows reclassified to profit or loss 310 547 Items that will never be reclassified to profit or loss: Impact of revaluation of investments in equity instruments designated at fair value through other comprehensive income (net) 41 107 (50) Remeasurements of the defined benefit liabilities (net) 41 5 (1) Other comprehensive income (net) 1 250 149 Total comprehensive income 8 269 6 528 1. Attributable to equity holders of the Bank 8 265 6 525 2. Attributable to non-controlling interests 4 3 Notes to the financial statements presented on pages 1 1 – 172 constitute an integral part of the consolidated financial statements.
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6 Bank Pekao S.A. Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) III. Consolidated statement of financial position NOTE 31.12.2025 31.12.2024 RESTATED (*) 01.01.2024 RESTATED (*) ASSETS Cash and cash equivalents 18 12 016 14 269 14 715 Loans and advances to banks 19 501 172 173 Derivative financial instruments (held for trading) 20 5 001 4 222 9 317 Hedging instruments 21 1 233 448 805 Loans and advances to customers (including receivables from finance leases) 22 188 868 175 025 161 494 Securities 23 134 738 130 245 109 662 Assets pledged as security for liabilities 24 1 080 1 345 1 648 Assets held for sale 25 21 24 32 Investments in associates 26 152 59 53 Intangible assets 27 2 560 2 548 2 396 Property, plant and equipment 28 2 224 2 025 1 946 Income tax assets 1 427 1 343 1 103 1. Current tax assets 1 - 1 2. Deferred tax assets 15 1 426 1 343 1 102 Other assets 29 2 412 2 517 2 445 TOTAL ASSETS 352 233 334 242 305 789 EQUITY AND LIABILITIES Liabilities Amounts due to other banks 30 5 748 7 344 7 597 Financial liabilities held for trading 31 891 1 399 757 Derivative financial instruments (held for trading) 20 5 124 4 266 9 295 Amounts due to customers 32 269 552 260 035 233 727 Hedging instruments 21 681 1 073 1 429 Debt securities issued 33 20 265 16 167 9 958 Subordinated liabilities 34 5 642 2 782 2 781 Income tax liabilities 461 1 374 1 513 1. Current tax liabilities 15 440 1 356 1 492 2. Deferred tax liabilities 15 21 18 21 Provisions 35 2 634 2 310 1 956 Other liabilities 36 5 873 5 578 6 348 TOTAL LIABILITIES 316 871 302 328 275 361 Equity Share capital 41 262 262 262 Other capital and other components of comprehensive income 41 26 547 23 731 21 872 Retained earnings and net profit for the period 41 8 539 7 908 8 282 Total equity attributable to equity holders of the Bank 35 348 31 901 30 416 Non-controlling interests 42 14 13 12 TOTAL EQUITY 35 362 31 914 30 428 TOTAL LIABILITIES AND EQUITY 352 233 334 242 305 789 (*) Details are presented in Note 4.1. Notes to the financial statements presented on pages 1 1 – 172 constitute an integral part of the consolidated financial statements.
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7 Bank Pekao S.A. Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) IV. Consolidated statement of changes in equity OTHER CAPITAL AND OTHER COMPONENTS OF COMPREHENSIVE INCOME NON - CONTROLLING INTERESTS TOTAL EQUITY SHARE CAPITAL TOTAL OTHER CAPITAL AND OTHER COMPONENTS OF COMPREHENSI VE INCOME OTHER CAPITAL OTHER COMPONEN TS OF COMPREHE NSIVE INCOME RETAINED EARNINGS AND NET PROFIT FOR THE PERIOD TOTAL EQUITY ATTRIBUTABL E TO EQUITY HOLDERS OF THE BANK SHARE PREMIUM GENERAL BANKING RISK FUND OTHER RESERVE CAPITAL OTHER Note 41 41 41 42 Equity as at 1.01.2025 262 23 731 9 137 1 983 12 995 360 (744) 7 908 31 901 13 31 914 Total comprehensive income - 1 250 - - - - 1 250 7 015 8 265 4 8 269 Other components of comprehensive income (net) - 1 250 - - - - 1 250 - 1 250 - 1 250 Net profit - - - - - - - 7 015 7 015 4 7 019 Appropriation of retained earnings - 1 564 - - 1 563 1 - (6 383) (4 819) (3) (4 822) Dividend paid - - - - - - - (4 819) (4 819) (3) (4 822) Profit appropriation to other reserves - 1 564 - - 1 563 1 - (1 564) - - - Other - 2 - - 4 - (2) (1) 1 - 1 Result on sales of investments in equity instruments designated at fair value through other comprehensive income - - - - 2 - (2) - - - - Other - 2 - - 2 - - (1) 1 - 1 Equity as at 31.12.2025 262 26 547 9 137 1 983 14 562 361 504 8 539 35 348 14 35 362 Notes to the financial statements presented on pages 11 - 172 constitute an integral part of the consolidated financial statements.
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8 Bank Pekao S.A. Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) OTHER CAPITAL AND OTHER COMPONENTS OF COMPREHENSIVE INCOME NON - CONTROLLING INTERESTS TOTAL EQUITY SHARE CAPITAL TOTAL OTHER CAPITAL AND OTHER COMPONENTS OF COMPREHENSI VE INCOME OTHER CAPITAL OTHER COMPONENTS OF COMPREHENSIVE INCOME RETAINED EARNINGS AND NET PROFIT FOR THE PERIOD TOTAL EQUITY ATTRIBUTABL E TO EQUITY HOLDERS OF THE BANK SHARE PREMIUM GENERAL BANKING RISK FUND OTHER RESERVE CAPITAL OTHER Note 41 41 41 42 Equity as at 1.01.2024 262 21 872 9 137 1 983 11 290 355 (893) 8 282 30 416 12 30 428 Total comprehensive income - 149 - - - - 149 6 376 6 525 3 6 528 Other components of comprehensive income (net) - 149 - - - - 149 - 149 - 149 Net profit - - - - - - - 6 376 6 376 3 6 379 Appropriation of retained earnings - 1 710 - - 1 705 5 - (6 749) (5 039) (2) (5 041) Dividend paid - - - - - - - (5 039) (5 039) (2) (5 041) Profit appropriation to other reserves - 1 710 - - 1 705 5 - (1 710) - - - Other - - - - - - - (1) (1) - (1) Equity as at 31.12.2024 262 23 731 9 137 1 983 12 995 360 (744) 7 908 31 901 13 31 914 Notes to the financial statements presented on pages 11 - 172 constitute an integral part of the consolidated financial statements.
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9 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Bank Pekao S.A. V. Consolidated cash flow statement NOTE 2025 2024 RESTATED Cash flow from operating activities – indirect method Profit before income tax 8 961 8 123 Adjustments for: Depreciation and amortization 13 739 702 Share in gains (losses) from associates 14 5 (7) (Gains) losses on investing activities (263) (171) Net interest income 6 (13 693) (12 729) Dividend income 8 (34) (30) Change in: Loans and advances to banks (326) (20) Derivative financial instruments (assets) (780) 5 096 Loans and advances to customers (in this receivables from financial leases) (13 945) (13 953) Securities (including assets pledged as security for liabilities) 7 781 5 037 Other assets 1 483 636 Amounts due to banks (267) (477) Financial liabilities held for trading (508) 642 Derivative financial instruments (liabilities) 858 (5 029) Amounts due to customers 9 951 26 406 Debt securities issued (273) (105) Subordinated liabilities (9) 1 Payments for short-term leases and leases of low-value assets (1) (2) Provisions 325 333 Other liabilities (968) (1 163) Interest received 43 19 302 19 679 Interest paid 43 (5 821) (6 153) Income tax paid (3 248) (2 156) Net cash flows from operating activities 9 269 24 660 Cash flow from investing activities Investing activity inflows 611 092 1 380 114 Sale and redemption of securities measured at amortised cost 124 303 322 408 Sale and redemption of securities measured at fair value through other comprehensive income 486 503 1 057 497 Sale property, plant and equipment 28 252 179 Dividend received 8 34 30 Investing activity outflows (623 595) (1 406 602) Acquisition of shares of associates (100) - Acquisition of securities measured at amortised cost (121 295) (349 142) Acquisition of securities measured at fair value through other comprehensive income (501 264) (1 056 605) Acquisition of intangible assets 27 (360) (401) Acquisition of property, plant and equipment 28 (576) (454) Net cash flows from investing activities (12 503) (26 488)
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10 Bank Pekao S.A. Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) NOTE 2025 2024 RESTATED Cash flows from financing activities Financing activity inflows 40 050 31 133 Due to loans and advances received from banks 43 677 1 185 Issue of debt securities 43 36 504 29 948 Issue of subordinated bonds 43 2 869 - Financing activity outflows (39 069) (29 751) Repayment of loans and advances received from banks 43 (2 002) (1 007) Redemption of debt securities 43 (32 131) (23 639) Dividends payments (4 822) (5 039) Payments for the principal portion of the lease liabilities 43 (114) (66) Net cash flows from financing activities 981 1 382 Total net cash flows (2 253) (446) Including: effect of exchange rate fluctuations on cash and cash equivalents held (122) (31) Net change in cash and cash equivalents (2 253) (446) Cash and cash equivalents at the beginning of the period 14 269 14 715 Cash and cash equivalents at the end of the period 18 12 016 14 269 Notes to the financial statements presented on pages 1 1 – 172 constitute an integral part of the consolidated financial statements.
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11 Bank Pekao S.A. Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) VI. Notes to the consolidated financial statements 1. General information Bank Polska Kasa Opieki Spółka Akcyjna (hereafter ‘Bank Pekao S.A.’ or ‘the Bank’), with its headquarters in Poland 01-066, Żubra Street 1 Warsaw , was incorporated on 29 October 1929 in the Commercial Register of the District Court in Warsaw and has been continuously operating since its incorporation. Bank Pekao S.A. is registered in the National Court Registry – Enterprise Registry of the Warsaw District Court, XIII Commercial Division of the National Court Registry in Warsaw under the reference number KRS 0000014843 (no changes in the name or identification data compared to the previous reporting period). The Bank’s shares are quoted on the Warsaw Stock Exchange (WSE). The Bank’s securities, traded on regulated markets, are classified in the banking sector. Bank Pekao S.A. is a universal commercial bank, offering a broad range of banking services on domestic financial markets, provided to retail and corporate clients, in compliance with the scope of services, set forth in the Bank’s Articles of Association. The Bank runs both PLN and forex operations, and it actively participates in both domestic and foreign financial markets. Moreover, acting through its subsidiaries, the Group provides stockbroking, leasing, factoring operations and offering other financial services. The Group’s activities do not show any significant cyclical or seasonal changes. According to IFRS 10 ‘Consolidated financial statements’, the parent entity and the ultimate parent entity of Bank Pekao S.A. is Powszechny Zakład Ubezpieczeń S.A. (hereinafter ‘PZU S.A.’) with its registered office in Warsaw at Rondo Daszyńskiego 4, for which the controlling entity is the State Treasury, which holds 34.1875% of PZU S.A. shares, entitling to 34.1875% of votes at the General Meeting of PZU S.A. Through PZU S.A., the Bank is indirectly controlled by the State Treasury. The Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 contain financial information of the Bank and its subsidiaries (together referred to as the ‘Group’),and the associates accounted for using equity method. The share ownership structure of the Bank is presented in the Note 6.1 of the Report on the activities of Bank Pekao S.A. Group for the year 2025. 2. Group structure The Group consists of Bank Pekao S.A. as the parent entity and the following subsidiaries NAME OF ENTITY LOCATION CORE ACTIVITY PERCENTAGE OF THE GROUP’S OWNERSHIP RIGHTS IN SHARE CAPITAL/VOTING 31.12.2025 31.12.2024 Pekao Bank Hipoteczny S.A. Warsaw Banking 100.00 100.00 Pekao Leasing Sp. z o.o. Warsaw Leasing services 100.00 100.00 PeUF Sp. z o.o. Warsaw Financial support 100.00 100.00 Pekao Investment Banking S.A. Warsaw Brokerage 100.00 100.00 Pekao Inwestycje Dłużne Sp. z o.o. Warsaw Financial support 100.00 - Pekao Faktoring Sp. z o.o. Lublin Factoring services 100.00 100.00 Centrum Kart S.A. Warsaw Financial support 100.00 100.00 Pekao Financial Services Sp. z o.o. Warsaw Transferable agent 66.50 66.50 Pekao Direct Sp. z o.o. Cracow Body leasing 100.00 100.00 Pekao Property S.A. (in liquidation) Warsaw Real estate development 100.00 100.00 FPB - Media Sp. z o.o. (in bankruptcy) (*) Warsaw Real estate development - 100.00 Pekao Fundusz Kapitałowy Sp. z o.o. Warsaw Business consulting 100.00 100.00 Pekao Investment Management S.A. Warsaw Holding 100.00 100.00 Pekao TFI S.A. Warsaw Asset management 100.00 100.00 (*) In April 2025 FPB - Media Sp. z o.o. (in bankruptcy) was deleted from the National Court Register.
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12 Bank Pekao S.A. Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Investments in associates NAME OF ENTITY LOCATION CORE ACTIVITY PERCENTAGE OF THE GROUP’S OWNERSHIP RIGHTS IN SHARE CAPITAL/VOTING 31.12.2025 31.12.2024 Krajowy Integrator Płatności S.A. Poznań Monetary brokerage 38.33 38.33 PZU Fundusz Inwestycyjny Zamknięty Private Debt (*) Warsaw Investment activities 38.72 - (*) The Bank has significant influence over PZU Fundusz Inwestycyjny Zamknięty Private Debt through concluded cooperation agreements, including the distribution of investment certificates issued by the Fund. Incorporation of the subsidiary Pekao Inwestycje Dłużne Sp. z o.o. In October 2025, Pekao Investment Banking S.A. incorporated the subsidiary Pekao Inwestycje Dłużne Sp. z o.o., taking up all of its shares. This company was established to invest in investment certificates of PZU Fundusz Inwestycyjny Zamknięty Private Debt, managed by PZU TFI S.A. Acquisition of the enterprise of Pekao Direct Sp. z o.o. In May 2025, the Bank acquired the enterprise of Pekao Direct Sp. z o.o. related to the provision of call center services. Th e acquisition of the enterprise of Pekao Direct Sp. z o.o. was accounted for in accordance with the adopted accounting policy applicable to business combinations under common control. This transaction had no impact on the Group. Transfer of a group of assets and associated liabilities of Pekao Bank Hipoteczny S.A. In October 2025, a separate part of Pekao Bank Hipoteczny S.A. was transferred to Bank Pekao S.A. The separate group of assets and associated liabilities consisted primarily of a portfolio of foreign currency loans to retail and commercial customers, PLN loans to commercial customers, impaired PLN loans to retail customers, human resources and IT infrastructure, and associated liabilities, constituting a functionally and organizationally separate part of the enterprise. The transfer of the separate part of the enterprise of Pekao Bank Hipoteczny S.A. was accounted for in accordance with the adopted accounting policy applicable to business combinations under common control. This transfer had no impact on the Group. Acquisition of the enterprise of Centrum Kart S.A. In November 2025, the Bank acquired the enterprise of Centrum Kart S.A. mainly related to providing support services for card transaction processing and payment card personalization. The acquisition of the enterprise of Centrum Kart S.A . was accounted for in accordance with the adopted accounting policy applicable to business combinations under common control. This transaction had no impact on the Group.
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13 Bank Pekao S.A. Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) 3. Statement of compliance The annual consolidated financial statements (‘financial statements’) of Bank Pekao S.A. Group for the year ended on 31 December 202 5 have been prepared in accordance with International Financial Reporting Standards as adopted by the European Union. Details of the Group of accounting policies, including their changes, are presented in Note 4. These consolidated financial statements were approved for publication by the Bank’s Management Board on 17 February 2026. 3.1. New standards, interpretations and amendments to published standards that have been approved and published by the European Union and are effective on or after 1 January 2025 STANDARD / INTERPRETATION DESCRIPTION IMPACT ASSESSMENT IAS 21 (amendment) ‘The Effects of Changes in Foreign Exchange Rates’ The amendment to IAS 21: • specify when a currency is exchangeable into another currency and when it is not — a currency is exchangeable when an entity is able to exchange that currency for the other currency through markets or exchange mechanisms that create enforceable rights and obligations without undue delay at the measurement date and for a specified purpose; a currency is not exchangeable into the other currency if an entity can only obtain an insignificant amount of the other currency, • specify how an entity determines the exchange rate to apply when a currency is not exchangeable — when a currency is not exchangeable at the measurement date, an entity estimates the spot exchange rate as the rate that would have applied to an orderly transaction between market participants at the measurement date and that would faithfully reflect the economic conditions prevailing, • require the disclosure of additional information when a currency is not exchangeable — when a currency is not exchangeable an entity discloses information that would enable users of its financial statements to evaluate how a currency’s lack of exchangeabil ity affects, or is expected to affect, its financial performance, financial position and cash flows. The standard’s amendments did not have a material impact on the financial statements in the period of their first application. 3.2. New standards, interpretations and amendments to published standards that have been issued by the International Accounting Standards Board (IASB) and have been approved by the European Union but are not yet effective STANDARD/ INTERPRETATION DESCRIPTION IMPACT ASSESSMENT IFRS 9 (amendment) ‘Financial instruments’ and IFRS 7 (amendment) ‘Financial instruments: disclosures’ The amendments to IFRS 9 and IFRS 7: • provide an optional exception relating to the derecognition of a financial liability at an earlier date than settlement date, as long as specific conditions are met. This choice applies only to financial liabilities settled via the electronic payment system. An entity that chooses the accounting policy introduced by the above change will be obliged to apply it to all settlements made via the same electronic payment system, • clarify the method of analysis of three areas that are assessed when carrying out the test of the characteristics of contractual cash flows (‘SPPI test’) of financial assets, and thus affect the classification of financial assets, i.e.: ➢ additional guidelines have been introduced on the analysis of contractual terms that may change cash flows based on contingencies (for example interest rates linked to ESG goals), ➢ guidelines regarding ‘non-recourse’ financial assets have been clarified. A financial asset has ‘non-recourse’ characteristics if the lender has the right to receive the cash flows generated exclusively by the specified asset. In such a situation, the borrower is exposed to the operational risk of the assets and not the credit risk of the borrower, ➢ guidelines on contractually linked instruments have been clarified. In some transactions, the issuer may prioritize payments using multiple contractually linked instruments that result in a concentration of credit risk (so-called ‘tranches’). The amendments clarify, among other things, that a key element that distinguishes contractually linked instruments from other ‘non -recourse’ financial assets is the cascading payment structure, which results in a disproportionate allocation of cash shortfalls (losses) between tranches, The standard’s amendments will not have a material impact on the financial statements in the period of their first application
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14 Bank Pekao S.A. Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) STANDARD/ INTERPRETATION DESCRIPTION IMPACT ASSESSMENT • introduce new disclosure requirements for: ➢ equity instruments designated for measurement at fair value through other comprehensive income, ➢ financial assets and liabilities measured at amortized cost, the contractual terms of which may change cash flows due to events not directly related to changes in basic credit risk (e.g. change in cash flows due to compliance with ESG standards or not), • for nature-dependent electricity contracts, which are often structured as power purchase agreements: ➢ clarify the application of the ‘own-use’ requirements; ➢ permit hedge accounting if these contracts are used as hedging instruments; and ➢ add new disclosure requirements to enable investors to understand the effect of these contracts on a company’s financial performance and cash flows. Date of application: annual periods beginning on or after 1 January 2026. Annual Improvements (Volume 11) The IASB’s Annual improvements are limited to changes that either clarify the text of IFRS standard or correct relatively minor unintended consequences, omissions or conflicts between the requirements in the standards. The changes in the Annual improvements (Volume 11) concern: • IFRS 1 ‘First -time Adoption of International Financial Reporting Standards’ – hedge accounting by a first-time adopter • IFRS 7 ‘Financial Instruments: Disclosures’: (1) gain or loss on derecognition; (2) disclosure of deferred difference between fair value and transaction price; (3) credit risk disclosures, • IFRS 9 ‘Financial instruments’: (1) lessee derecognition of lease liabilities; (2) transaction price, • IFRS 10 ‘Consolidated financial statements’ - determination of a ‘de facto agent’ • IAS 7 ‘Statement of Cash Flows’ – cost method Date of application: annual periods beginning on or after 1 January 2026. The standard’s amendments will not have a material impact on the financial statements in the period of their first application IFRS 18 ‘Presentation and Disclosure in Financial Statements' IFRS 18 replaces IAS 1 ‘Presentation of financial statements’. The purpose of the new standard is to improve the comparability and transparency of an entity's communication through financial statements and introduces: • new requirements on presentation within the statement of profit or loss, including specified totals and subtotals. IFRS 18 requires an entity to classify all income and expenses within its statement of profit or loss into one of five categories: operating, investing, financing, income taxes and discontinued operations. The first three categories are new. These categories are complemented by the requirement to present subtotals and totals for ‘operating profit or loss’, ‘profit or loss before financing and i ncome taxes’ and ‘profit or loss’. • the concept of management-defined performance measure (‘MPM’) and defines it as a subtotal of income and expenses that an entity uses in public communications outside financial statements, to communicate management view’s of an aspect of the financial performance of the entity as a whole to users. IFRS 18 requires entities to disclose information about all its MPMs, including: how the measure is calculated, how it provides useful information and a reconciliation to the most comparable subtotal specified by IFRS 18 or another standard. • new requirements for aggregation and disaggregation of financial information based on the identified ‘roles’ of the primary financial statements and the notes. Date of application: annual periods beginning on or after 1 January 2027. The introduction of the new standard will not affect the numerical values presented in the financial statements. However, the method of presentation will change, which is currently being analysed by the Group.
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15 Bank Pekao S.A. Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) 3.3. New standards, interpretations and amendments to published standards that have been published by the International Accounting Standards Board (IASB) and not yet approved by the European Union STANDARD/ INTERPRETATION DESCRIPTION IMPACT ASSESSMENT IFRS 19 ‘Subsidiaries without Public Accountability: Disclosures’ with changes IFRS 19 allows eligible subsidiaries to apply reduced disclosure requirements while still applying the recognition, measurement and presentation requirements in other IFRS accounting standards. This standard may be applied by subsidiaries that: • it does not have public accountability (i.e. its equity or debts instruments are not traded in a public market or it does not hold assets in a fiduciary capacity for a broad group of outsiders), • it has an ultimate or intermediate parent entity that produces consolidated financial statements available for public use that comply with IFRS Accounting Standards. Date of application: annual periods beginning on or after 1 January 2027. This standard does not apply to the Group. IAS 21 (amendment) ‘The Effects of Changes in Foreign Exchange Rates’ The amendments to IAS 21 clarify how entities should translate financial statements from a non -hyperinflationary currency into a hyperinflationary presentation currency, i.e.:. • when an entity translates amounts from a functional currency that is the currency of a non-hyperinflationary economy to a presentation currency that is the currency of a hyperinflationary economy, the entity translates those amounts, including comparative amounts, using the closing rate at the date of the most recent statement of financial position. • when the entity’s presentation currency ceases to be hyperinflationary and the entity’s functional currency continues to be the currency of a non - hyperinflationary economy, the entity applies prospectively the currently existing IAS 21 requirements for such cases, without restating comparative amounts. Date of application: annual periods beginning on or after 1 January 2027. The Group claims that the new standard will not have an impact on the financial statements in the period of its first application. 3.4 Interest rate benchmark reform A fundamental reform of the main interest rate benchmarks (the ‘IBOR reform’) is under way in recent years. Regulation (EU) 2016/1011 of the European Parliament and of the Council of 8 June 2016 on indexes used as benchmarks in financial instruments and financial contracts or to measure the performance of investment funds and amending Directives 2008/48/EC and 2014/17/EU and Regulation (EU) No 596/2014 (hereinafter the ‘BMR Regulation’) sets out the operating rules and responsibilities of benchmark administrators and of the entities using these benchmarks. The new rule s are to make the indicators more credible, transparent and reliable. As a result of the IBOR reform, individual indicators were adjusted to th e new rules (e.g. WIBOR, EURIBOR) or liquidated (e.g. LIBOR) and replaced with alternative indicators. The greate st impact of the IBOR reform on the Group is observed in the field of financial instruments, in particular loans. The Group monitors the progress of the transition to the new benchmarks by reviewing the total volumes of contracts where the current benchmark is subject to IBOR reform and an alternative benchmark has not yet been introduced (hereinafter ‘contract under reform’). Pursuant to Article 28, Section 2 of the BMR, the Group has a contingency plan specifying the actions it would take in the event of a significant change or discontinuation of the benchmark used. At the same time, the Group continues the process of annexing contracts concluded before the entry into force of the BMR Regulation. Following the recommendations of the supervisory authorities, the Group decided not to use the LIBOR ratios in newly granted loans and credits with variable interest rates. The table below shows the IBOR to which the Group has had exposure, the new reference rates to which these exposures have or are transitioning, and the transition status. CURRENCY INDICATOR BEFORE REFORM INDICATOR AFTER REFORM STATUS AS AT 31.12.2025 PLN WIBOR POLSTR In progress CHF LIBOR CHF SARON, SARON Compound Completed USD LIBOR USD SOFR, Term SOFR Completed GBP LIBOR GBP SONIA, Term SONIA Completed WIBOR Starting from 2022, work has been underway in Poland by the National Working Group for Benchmark Reform ( ‘NWG’), the aim of which is to prepare a new benchmark and a timetable for its implementation in such a way as to ensure the security of the financial system.
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16 Bank Pekao S.A. Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Due to the fact that the reform of reference indicators consists of many interconnected elements, it was determined that this process would be spread over time, and the reform of reference indicators in Poland would be completed in its entirety by the end of 2027. In December 2024, the NWG Steering Committee decided to select the target interest rate reference index, replacing the WIBOR reference index and based on unsecured deposits of Credit Institutions and Financial Institutions with the technical name ‘WIRF’. Thus, the NWG Steering Committee verified and modified its previous decision to select the WIRON index. In January 2025, the NWG Steering Committee decided to select the target name of the new reference index: POLSTR. In April 2025, the NWG Steering Committee adopted the updated Road Map for benchmark reform in Poland. On 30 September 2025, GPW Benchmark S.A., the administrator of interest rate benchmarks, decided to discontinue the development of the WIBID and WIBOR reference rates for certain fixing dates as of: • 22 December 2025 - Tomorrow/Next (Y/N), 2 weeks (2W), • 1 October 2026 - Overnight (O/N), • 22 December 2026 - 1 year (1Y). The Group does not have significant exposure to these rates. The Group participates in the work of the NGR and adapts its product offering using the POLSTR index. Financial assets other than derivative instruments and off-balance sheet commitments granted The tables below show the total amounts of non-derivative financial assets and off-balance sheet commitments granted based on WIBOR and undergoing during the reform as at 31 December 2025 and 31 December 2024. The amounts of non-derivative financial assets are presented in their gross carrying amounts, and off -balance sheet commitments granted are presented according to the amount of liabilities. WIBOR 31.12.2025 31.12.2024 Loans and advances to banks 200 1 Loans and advances to customers 142 024 130 739 Securities 32 367 26 245 Assets pledged as security for liabilities 1 079 - Off-balance sheet commitments 14 487 14 429 Financial liabilities other than derivative instruments The tables below present the total amounts of financial liabilities at the carrying amount during the reform as at 31 December 2025 and 31 December 2024. WIBOR 31.12.2025 31.12.2024 Amounts due to other banks 279 1 565 Financial liabilities held for trading 342 371 Loans and advances to customers 9 115 8 510 Debt securities issued 7 035 5 187 Subordinated liabilities 3 537 2 782 Derivative financial instruments and hedge accounting The table below presents the total amount of financial instruments during the reform as at 31 December 202 5 and 31 December 2024. The Group expects both legs of the FX swaps to be reformed simultaneously. WIBOR 31.12.2025 31.12.2024 Derivative financial instruments (held for trading, assets) 3 882 3 299 Hedging instruments (assets) 1 185 368 Derivative financial instruments (held for trading, liabilities) 4 087 3 401 Hedging instruments (liabilities) 653 1 073
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17 Bank Pekao S.A. Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Impact of the IBOR reform on hedge accounting As part of the established hedging relationships, the Group identifies the following interest rate benchmarks: WIBOR, EURIBOR. As of the reporting date, these benchmarks rates are quoted and available each day and resulting cash flows are exchanged with its counterparties as usual. In the case of WIBOR, in the Group's opinion, there is uncertainty as to the dates and amounts of cash flows for the new index. Such uncertainty may affect the assessment of the effectiveness of the relationship and the high probability of the hedged item. For the purpose of these assessments, the Group assumes that the interest rate benchmarks on which the cash flows are based will change symmetrically for the hedged item and the hedging instrument. The list of hedging relationships and the nominal amounts of hedging instruments designated thereto, which may be affected by the cessation of the interest rate benchmarks is presented in Note 21. Regarding the hedging instruments, the Group joined ISDA Fallbacks Protocol and actively cooperates with counterparties in order to implement rules of conduct in line with the ISDA methodology. 4. Significant accounting policies 4.1. Basis of preparation of Consolidated Financial Statements General information The financial statements have been prepared in Polish zloty, and all data in the financial statements are presented in PLN million (PLN ‘000 000), unless indicated otherwise. The financial statements have been prepared on a going concern basis on the assumption that the Group will continue its business operations substantially unchanged in scope for a period of at least one year from the date of approval by the Bank's Management Board of these financial statements for publication, i.e. from 17 February 2026. The accounting principles as described below have been consistently applied for all the reporting periods. The principles have been applied consistently by all the Group entities. The consolidated financial statements have been prepared on the historical cost basis, except for significant items of financ ial assets and liabilities, for which the measurement method is presented in Note 4.4. Comparability of financial data In the Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 , the Group made the following described changes to lease liabilities . Lease liabilities, previously presented under ‘Amounts due to customers’, are now presented under ‘Other liabilities’. This change was introduced to better reflect the Group's activities and ensure comparability with the banking sector. As a result of this change, the data presented will be more useful and reliable. The change in accounting principles indicated above resulted in the restatement of comparative data, but it had no impact on the balance sheet total. The impact of change on the comparative data of selected items of the consolidated statement of financial position is presented in the tables below. CONSOLIDATED STATEMENT OF FINANCIAL POSITION DATA FOR 31.12. 2024 BEFORE RESTATEMENT CHANGE DATA FOR 31.12.2024 AFTER RESTATEMENT Amounts due to customers 260 742 (707) 260 035 Other liabilities 4 871 707 5 578 CONSOLIDATED STATEMENT OF FINANCIAL POSITION DATA FOR 01.01. 2024 BEFORE RESTATEMENT CHANGE DATA FOR 01.01.2024 AFTER RESTATEMENT Amounts due to customers 234 306 (579) 233 727 Other liabilities 5 769 579 6 348 The impact of change on the comparative data of selected items of the consolidated cash flow statement is presented in the table below. CONSOLIDATED CASH FLOW STATEMENT DATA FOR 2024 BEFORE RESTATEMENT CHANGE DATA FOR 2024 AFTER RESTATEMENT Change in: Amounts due to customers 26 534 (128) 26 406 Other liabilities (1 291) 128 (1 163)
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18 Bank Pekao S.A. Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) 4.2. Consolidation Consolidation principles The consolidated financial statements of Bank Pekao S.A. Group include the financial data of Bank Pekao S.A. and its subsidiaries as at 31 December 2025. The financial statements of the subsidiaries are prepared at the same reporting date as those of the parent entity, using consistent accounting policies within the Group in all important aspects. All intra -group balances and transactions, including unrealized gains, have been eliminated. Unrealized losses are also eliminated, unless there is an objective evidence of impairment, which should be recognized in the consolidated financial statements. Investments in subsidiaries Subsidiaries are all entities over which the Group has control. The Group controls an entity when the Group has power over an entity, is exposed to or has rights to variable returns from its involvement with the entity and has the ability to affect these returns through its power over the entity. The subsidiaries are consolidated from the date of obtaining control by the Group until the date when the control ceases. The Group applies the acquisition method to account for business combinations. The consideration transferred for the acquisition of a subsidiary is the fair values of the assets transferred, the liabilities incurred to the former owners of the acquiree and the equity interests issued by the Group. Identifiable assets acquired and liabilities assumed are measured at their fair values at the acquisition date. The Group measures any non -controlling interests in the acquire at fair value or at the present ownership instruments’ proportionate share in the recognized amounts of the acquire's identifiable net assets. Acquisition-related costs are expenses as incurred (in the income statement under the item ‘General administrative expenses and depreciation’. If the business combination is achieved in stages, the acquirer remeasures its previously held equity interests in the acquiree at fair value at the acquisition date (date of obtaining control) and recognizes the resulting gain or loss in the income statement. The excess of the consideration transferred, the amount of any non-controlling interest in the acquiree and the acquisition-date fair value of any previous equity interest in the acquiree over the fair value of the identifiable net assets acquired is rec orded as goodwill. If the total of consideration transferred, non-controlling interest recognized and previously held interest measured is less than the fair value of the net assets of the subsidiary acquired in the case of a bargain purchase, the difference is recognized directly in the income statement. The above policy does not apply to the business combinations under common control. The changes in a parent entity's ownership interest in a subsidiary that do not result in the parent entity losing control of the subsidiary are accounted for as equity transactions (i.e. transactions with owners of parent entity). The Group recognizes directly in equity any difference between the amount by which the non -controlling interests are adjusted and the fair value of the consideration paid or received, and attributes it to the owners of the parent entity. When the Group ceases to have control over the subsidiary, any retained interest in that subsidiary is remeasured to its fair value at the date when control is lost, with the change in carrying amount recognized in the income statement. Recognition of business combinations under common control at book value Business combinations under common control are excluded from the scope of IFRS. As a consequence, following the recommendation included in IAS 8 ‘Accounting Policies, Changes in Accounting Estimates and Errors’, in the absence of any specific guidance with in IFRS, Bank Pekao S.A. has adopted the accounting policy consistently applied in all business combinations under common and recognizes those transactions using book value. The acquirer recognizes the assets and liabilities of the acquired entity at their current book value adjusted exclusively for the purpose of aligning the accounting principles. Neither goodwill, nor badwill is recognized. Any difference between the book value of the net assets acquired and the fair value of the consideration paid is recognized i n the Group’s equity. In applying this book value method, the comparative periods are not restated. If the transaction results in the acquisition of non -controlling interests, the acquisition of any non -controlling interest is accounted for separately. There is no guidance in IFRS how to determine the percentage of non -controlling interests acquired from the perspective of a subsidiary. Accordingly Bank Pekao S.A. uses the same principles as the ultimate parent for estimating the value of non - controlling interests acquired.
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19 Bank Pekao S.A. Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Investments in associates An associate is an entity over which the Group has significant influence, and that is neither a subsidiary nor a joint ventur e. The Group usually holds from 20% to 50% of the voting rights in an associate. The equity method is calculated using the financial statements of the associates. The balance sheet dates of the Group and its associates are the same. On acquisition of the investment, any difference between the cost of the investment and the Group's share in the net fair value of the investee's identifiable assets and liabilities is accounted for as follows: • goodwill relating to an associate is included in the carrying amount of the investment, • any excess of the Group's share in the net fair value of the investee's identifiable assets and liabilities over the cost of the investment is included as income in the determination of the Group's share in the associate's profit or loss in the period in which the investment is acquired. The Group recognizes the investments in associates applying the equity method. The investment in associates is initially recognized at cost and the carrying amount is increased or decreased to recognize the Group’s statement of financial position share in net assets of the associate after the date of acquisition, net of any impairment allowances. The Group’s share of post -acquisition profit or loss is recognized in the income statement, and its share of post -acquisition movements in other comprehensive income is recognized in other comprehensive income with a corresponding adjustment to the carrying amount of the investment. Distributions received from an associate reduce the carrying amount of the investment. If the Group’s share in the losses of an associate equals or exceeds the Group’s share in the associate, the Group ceases to recognize further losses, unless it assumed obligations or made a payment on behalf of the associate. Unrealized profits or losses from transactions between the Group and associates are eliminated pro rata to the Group’s share in the associates. 4.3. Foreign currencies • Transactions and balances Foreign currency transactions are calculated into the functional currency using the spot exchange rate from the date of the transaction. Gains and losses from foreign currency translation differences resulting from settlements of such transactions and from the statement of financial position valuation of monetary assets and liabilities expressed in foreign currencies are recognized in the income statement. • Foreign currency translation differences arising from non -monetary items, such as equity instruments classified as financial assets measured at fair value through the profit or loss are recognized together with the changes in the fair value of that item in the income statement. • Foreign currency translation differences arising from non-monetary items such as equity instruments classified as financial assets measured at fair value through other comprehensive income are recognized in the revaluation reserves. 4.4. Valuation of financial assets and liabilities Financial assets At the moment of the initial recognition the financial assets are classified into the following categories at the: • financial assets measured at amortised cost, • financial assets measured at fair value through other comprehensive income, • financial assets measured at fair value through profit or loss. The above mentioned classification is based on the entity’s business model for managing the financial assets and the characteristics regarding the contractual cash flows ( i.e.‘criterion SPPI’). The financial assets could be classified depending on the Group’s business model to the following categories: • a business model whose objective is to hold financial assets in order to collect contractual cash flows, • a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets, • other business model than business model whose objective is to hold financial assets in order to collect contractual cash flows and business model whose objective is achieved by both collecting contractual cash flows and selling financial assets.
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20 Bank Pekao S.A. Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Classification, measurement and presentation of various categories of financial assets FINANCIAL ASSETS CLASSIFICATION SIGNIFICANT ITEMS INCLUDED PRESENTATION AND MEASUREMENT Measured at amortised cost (according to IFRS 9) To this category, the Group classifies financial assets included in the following items of the Statement of financial position: • Cash and cash equivalents, • ‘Loans and advances to banks’, • ‘Loans and advances to customers’ (including receivables from finance leases), • ‘Securities’. Financial assets are measured at amortised cost if at the same time they meet the following two criteria and were not designated for measurement at fair value through profit or loss: • the financial asset is held within a business model whose objective is to hold financial assets in order to collect contractual cash flows, and • the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding (SPPI criteria are met). Upon initial recognition, these assets are measured at fair value increased by transaction costs that are directly attributable to the acquisition or issue of a financial asset. After initial recognition, these assets are measured at amorti sed cost using the effective interest rate. The calculation of the effective interest rate includes all commissions paid and received by the parties, transaction costs and other bonuses and discounts constituting an intergrated part of the effective interest rate. Interest accrued using the effective interest rate is recognized in net interest income. Since the impairment recognition, the interest recognized in the income statement is calculated based on the net carrying amount, whereas the interest recognized in the statement of financial position is accrued on the gross carrying amount. Allowances for expected credit losses reduce the gross carrying amount of assets, on the other hand they are recognized in the income statement under ‘Net allowances for expected credit losses’. Measured at fair value through other comprehensive income (according to IFRS 9) To this category, the Group classifies financial assets included in the following items of the Statement of financial position: • Loans and advances to customers’ (including receivables from finance leases), • ‘Securities’, • ‘Assets pledged as security for liabilities’. Financial assets (excluding equity instruments) are measured at fair value through other comprehensive income when they simultaneously meet the following two conditions and have not been designated for measurement at fair value through profit or loss: • the financial asset is held within a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets, and • the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding (SPPI criteria are met). Interest accrued using the effective interest rate is recognized in net interest income. The effects of changes in fair value are recognized in other comprehensive income until the asset is excluded from the statement of financial position, when accumulated profit or loss is recognized in the income statement under ‘Result on derecognition of financial assets and liabilities not measured at fair value through profit or loss’. An allowance for expected credit losses from financial assets that are measured at fair value through other comprehensive income is recognized in other comprehensive income and does not reduce the carrying amount of the financial asset in the statement of financial position. On the other hand, an expected credit risk allowance is recognized in the income statement under ‘Net allowances for expected credit losses’. Measured at fair value through profit or loss (according to IFRS 9) To this category, the Group classifies financial assets included in the following items of the Statement of financial position: • ‘Derivative financial instruments (held for trading)’, • ‘Loans and advances to customers’ ((including receivables from finance leases), • ‘Hedging instruments’, • ‘Securities’, • ‘Assets pledged as security for liabilities’. Loans and advances to customers recognized in a model other than the model held to obtain contractual cash flows and the model held to obtain contractual cash flows and for sale, or those that do not meet the SPPI criterion. At initial recognition, the Group may irrevocably designate selected financial assets that meet the amortised cost measurement criteria or at fair value through other comprehensive income for measurement at fair value through profit or loss if it eliminates or significantly reduces the accounting mismatch that would otherwise arise from measuring assets at different methods. Derivative instruments are recognized on transaction dates.
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21 Bank Pekao S.A. Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) FINANCIAL LIABILITIES CLASSIFICATION SIGNIFICANT ITEMS INCLUDED PRESENTATION AND MEASUREMENT Measured at an amount equal to the net lease investment (in accordance with IFRS 16) To this category, the Group classifies financial assets included in the following items of the Statement of financial position: • ‘Loans and advances to customers’ (including receivables from finance leases). Receivables from finance leases are measured at an amount equal to the net lease investment, i.e. at present value of lease payments and any unguaranteed residual value assigned to the Group (details are presented in Note 39) Classification, presentation and measurement of financial liabilities FINANCIAL LIABILITIES CLASSIFICATION SIGNIFICANT ITEMS INCLUDED PRESENTATION AND MEASUREMENT Measured at amortised cost (according to IFRS 9) To this category, the Group classifies financial liabilities included in the following items of the Statement of financial position: • ‘Amounts due to other banks’, • ‘Amounts due to customers’, • ‘Debt securities issued’, • ‘Subordinated liabilities’. The measurement of financial liabilities at amortised cost is performed using the effective interest rate. When the financial liability at amortised cost is derecognised, the gain or loss is recognised in the profit and loss in the item ‘Result on derecognition of financial assets and liabilities not measured at fair value through profit or loss’. Measured at fair value through profit or loss (according to IFRS 9) To this category, the Group classifies financial liabilities included in the following items of the Statement of financial position: • ‘Financial liabilities held for trading’, • ‘Derivative financial instruments (held for trading)’, • ‘Hedging instruments’. Measurement and presentation of financial liabilities measured at fair value through profit or loss follow the same principles as for financial assets measured at fair value through profit or loss. The business model assessment The assessment of the business model is made at the initial recognition of the asset. The business model criteria refers to the way the Group managing financial assets in order to generate cash flows. The Group evaluates the purpose of the business model, to which the particular financial assets are classified on the level o f particular portfolios of the assets – performing the analysis on those portfolio level is a reliable reflection business activiti es regarding these models and also reflects to information analysis of those activities provided to the Group’s management. The assessment of the business model is based on the analysis of the following information regarding the portfolio of the financial assets: • applied policies and business aims for the particular portfolio and its practical implementation. In particular, the management's strategy regarding the acquisition of revenues from contractual interest payments, maintaining a specific interest rate profile of the portfolio, managing the liquidity gap and obtaining cash flows as a result of the sale of financial assets is assessed, • the manner in which the profitability of the portfolio is assessed and reported to the Bank's Management Board, • types of risk that affect the profitability and effectiveness of a given business model (and financial assets held under this business model) and the manner of managing the identified types of risk, • the way in which the managers of business operations are remunerated under a given business model - e.g. whether the remuneration depends on changes in the fair value of financial assets or the value of contractual cash flows obtained, • frequency, value and moment of sale of financial assets made in prior reporting periods, the reasons for these sales and expectations regarding future sales activity. However, information on sales activity is analysed taking into account the overall assessment of the Group's implementation of the adopted method of managing financial assets and generating cash flows. Before making a decision regarding allocating a portfolio of financial assets to a business model which purpose is to obtain contractual cash flows, the Group reviews and evaluates significant and objective quantitative data influencing the allocatio n of asset portfolios to the relevant business model, in particular: • the value of sales of financial assets made within the particular portfolios, • the frequency of sales of financial assets as part of particular portfolios, • expectation analysis regarding the value of planned sales of financial assets and their frequency of the particular portfolios, this analysis is carried out on the basis of probable scenarios of the Group's business activities in the future.
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22 Bank Pekao S.A. Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) The portfolios of financial assets from which sales are made that do not result from an increase in credit risk meet the assumptions of the business model, which purpose is to obtain contractual cash flows, provided that these sales: • are at low volume (even with a relatively high frequency of sales) or • are made rarely - as a result of one-off events, which the probability to occur again in the future, according to the Group’s professional judgment is rare (even with a relatively high volume) or • they occur close to the maturity date of the financial assets being sold, and the revenue obtained from such sales is similar to those which could be obtained from remaining contractual cash flows as if the financial asset was held in the Group's portfolio to the original maturity date. The following sales are excluded from the analysis of sales value: • the sales resulting from an increase in the credit risk of financial assets, regardless of their frequency and volume, • the sales resulting from one -off events, which the probability to occur again in the future, according to the Group’s professional judgment is rare, • the sales made close to maturity. A held to obtain contractual cash flows or sale business model includes a portfolio of financial assets whose purpose is, in particular, managing current liquidity levels, maintaining the assumed profitability profile and/or adjust the duration of the asset and financial liabilities, and a level of sales are higher than for those financial assets classified in a model which purpos e is to obtain contractual cash flows. The other business model includes financial assets held for trading and other assets that do not meet the criteria for classification into the previously described models. Assessment, whether the contractual payments are solely payments of principal and interest on the principal amount outstanding (SPPI criteria) For the purposes of assessing cash flow characteristics, ‘principal’ is defined as the fair value of a financial asset at the time of initial recognition. ‘Interest’ is defined as the time value of money and the credit risk related to the unpaid part of pr incipal and also other risks and costs associated with a standard loan agreement / a security (e.g. liquidity risk or administrative costs) and margin. When assessing whether the contractual cash flows constitute solely payments of principal and interest, the Group analyses contractual cash flows. This analysis includes an assessment whether the contractual terms include any provisions that the contractual payments could be changed or the amount of the contractual payments could be changed in a way that from an economic point of view they will not only represent repayments of principal and interest on the outstanding principal. When making this assessment, the Group takes into account the occurrence of, among others: • conditional events that may change the amount or timing of the payment, • financial leverage (for example, interest terms include a multiplier greater than 1), • terms regarding the extension of the contract or prepayment option, • terms that the Group’s cash flow claim is limited to a specified assets (e.g. non-recourse assets), • terms that modify the time value of money – e.g. mismatch of the frequency of the revaluation of the reference interest rate to its tenor. The SPPI test is conducted for each financial asset classified into the business model, which purpose is to obtain contractua l cash flows or a business model which purpose is to obtain contractual cash flows or sale, as at the initial recognition date or as at the latest significant annex date changing the terms of contractual cash flows. The Group performs an SPPI test at the level of homogeneous groups of standard products or at the level of a single contract for non-standard products or at the level of ISIN code for debt securities. In situation when the time value of money is modified for a particular financial asset, the Group is required to make an additional assessment (i.e. Benchmark Test) to determine whether the contractual cash flows are still solely payments of principal and interest on the principal amount outstanding by determining how different the contractual (undiscounted) cash flows could be from the (undiscounted) cash flows that would arise if the time value of money element was not be modified (the benchmark cash flows). Benchmark Testing is not permitted for situation that some terms modify contractual cash flows, such as the built- in leverage element. Purchased or originated credit-impaired financial assets (POCI) The Group distinguishes the category of purchased or originated credit -impaired assets. POCI are assets that are credit - impaired on initial recognition. Financial assets that were classified as POCI at initial recognition should be treated as POCI in all subsequent periods until they are derecognition.
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23 Bank Pekao S.A. Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) POCI assets may arise through: • by purchasing a contract that meets the definition of POCI (e.g. as a result of a merger with another entity or purchase of a portfolio of assets), • by concluding a contract that is POCI at the time of original granting (e.g. granting a loan to a customer in a bad financial condition), • by modifying the contract (e.g. under restructuring) qualifying this contract to be derecognised, resulting in a recognition of a new contract meeting the definition of POCI. Conditions for qualifying a contract to be derecognised are described below. At initial recognition, POCI assets are recognized in the balance sheet at their fair value, in particular they do not have recognized impairment allowance. POCI assets do not constitute a separate accounting category of financial assets. They are classified into accounting categories in accordance with the general principles for classification of financial assets. The categories in which POCI assets may exist are a category of financial assets measured at amorti sed cost and financial assets measured at fair value through other comprehensive income. Investments in equity instruments For investments in equity instruments not held for trading, the Group may irrevocably choose to present changes in their fair value in other comprehensive income. The Group makes a decision in this respect based on an individual analysis of each investment. In such a case the amounts presented in other comprehensive income are never subsequently transferred to profit or loss. In case of sale of an equity investment elected to be measured at fair value through other comprehensive income, profits/losses from fair value measurement are transferred to the item ‘Other reserve capital’. Equity investments not designated for measurement at fair value through other comprehensive income at the initial recognition are measured at fair value through profit or loss. Changes in the fair value of such investments, as well as the result on sales, are recognized in the income statement under ‘Result on financial assets and liabilities measured at fair value through profit or loss and foreign exchange result’. Dividends from equity instruments, both measured at fair value through profit or loss and designated for valuation through other comprehensive income, are recognized in the income statement when the Group's right to receive payment is established. Modifications of financial assets If the terms of the financial asset agreement change, the Group assesses whether the cash flows generated by the modified asset differ significantly from those generated by the asset before modifying the terms of its agreement. If a significant difference is identified, (defined by the quantitative criteria presented below) , the original financial asset is derecognised, and the modified financial asset is recognized in the books at its fair value. Income or expense arising as at the date of determining the effects of the substantial modification is recognized in the profit and loss in the item ‘Result on derecognition of financial assets and liabilities not measured at fair value through profit or loss’. If the cash flows generated by the modified financial asset are not materially different from the original cash flows, the modification does not result in derecognition of the financial asset. In this case, the Group recalculates the gross carrying amount of the financial asset, and recognizes the result resulting from a non -substantial modification in correspondence with interest income . Quantitative information about financial assets that were subject to modification that didn’t result in derecognition was presented in Note 45.2. The assessment whether a given modification of financial assets is significant or non-substantial modification depends on the fulfilment of qualitative and quantitative criteria. The Group has adopted the following quality criteria to determine substantial modifications: • currency conversion, unless it results from existing contractual provisions or requirements of applicable legal regulations, • change (replacement) of the debtor, excluding the addition/departure of the joint debtor or taking over the loan in inheritance, • consolidation of several exposures into one under an annex or settlement/restructuring agreement, The occurrence of at least one of these criteria results in a substantial modification. The Group has adopted the following quantitative criteria to determine substantial modifications: • extension of the loan term by at least one year and at least a doubling of the residual maturity to the original maturity (meeting both conditions jointly), or • increasing the current loan amount/limit by at least 10%. If the terms of a financial asset agreement are modified, and the modification does not result in derecognition of the asset from the balance sheet, the determination, whether the credit risk of a given asset significantly increases, is made by comparing: • lifetime PD on the reporting date, based on modified conditions, with • lifetime PD estimated on the basis of data valid at the date of initial recognition and initial contractual terms.
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24 Bank Pekao S.A. Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) In the case of modification of financial assets, the Group analyses whether the modification has improved or restored the Group's ability to collect interest and principal. As part of this process, the Group assesses the borrower's ability to pay in relation to modified terms of agreement. De-recognition of financial instruments from the statement of financial position Financial assets are derecognized when the contractual rights to the cash flows from the financial assets expire or when the Group transfers the contractual rights to receive the cash flows in a transaction in which substantially all risk and rewards of ownership of the financial asset are transferred. The Group derecognizes a credit or a loan receivable, or its part, when it is sold. Additionally, the Group writes-off a receivable against the corresponding impairment allowances (completely or partially) when the debt redemption process is completed and when no further cash flows from the given receivable are expected (i.e. the created write -down covers almost the entire gross value of the loan/advance). The value of contractual cash flows required under contracts of financial assets, which were written -off in 2025 and are still subject to enforcement proceedings as at 31 December 2025, is PLN 860 million (as at 31 December 2024 - PLN 837 million). Accumulated profits and losses that have been recognized in other comprehensive income from equity instruments designated to be measured at fair value through other comprehensive income are not recognized in the profit and loss account when these financial instruments are removed from the balance sheet. The Group derecognizes a financial liability, or its part, when the liability expires. The liability expires when the obligation stated in the agreement is settled, redeemed or the period for its collection expires. Repo and reverse-repo agreements Repo and reverse-repo transactions, as well as sell-buy back and buy-sell back transactions are classified as sales or purchase transactions of securities with the obligation of resale and repurchase at an agreed date and price. Sales transactions of securities with the repurchase obligation granted (repo and sell -buy back) are recognized as at transaction date in amounts due to other banks or amounts due to customers from deposits depending upon the counterparty to the transaction. Assets sold under these transactions are presented in the line ‘Assets pledged as security for liabilities’. ’. Securities purchased in reverse -repo and buy-sell back transactions are recognized as loans and receivables from banks or as loans and receivables from customers, depending upon the counterparty to the transaction. The difference between the sale and repurchase price is recognized as interest income or expense, and amorti sed over the contractual life of the contract using the effective interest rate method. Other significant accounting policies Other significant accounting policies are presented in the Notes below. NOTE TITLE NOTE NUMBER Interest income and expense 6 Fee and commission income and expense 7 Dividend income 8 Result on financial assets and liabilities measured at fair value through profit or loss and foreign exchange result 9 Result on derecognition of financial assets and liabilities not measured at fair value through profit or loss 10 Net allowances for expected credit losses 11 Other operating income and expenses 12 General administrative expenses and depreciation 13 Income tax 15 Derivative financial instruments (held for trading) 20 Hedge accounting 21 Assets held for sale 25 Investments in associates 26 Intangible assets 27 Property, plant and equipment 28 Other assets 29 Provisions 35 Other liabilities 36 Share-based payments 38 Leasing 39 Contingent commitments and litigation and claims 40 Equity 41
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25 Bank Pekao S.A. Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) 4.5. Significant estimates and assumptions The preparation of financial statements in accordance with IFRS requires the Management Board of the Bank to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets and liabilities, income and expenses. Estimates and assumptions are reviewed on an ongoing basis by the Group and rely on historic data and other factors including expectation of the future events which seems justified in given circumstances. Estimates and underlying assumptions are subject to a regular review. Revisions to accounting estimates are recongised prospectively starting from the period in which the estimates are revised. Information on the areas of significant estimates in these financial statements is presented below. 4.5.1. Expected credit losses With regard to all financial assets that are measured at amortized cost or at fair value through other comprehensive income and off-balance sheet liabilities, i.e. financial guarantees or loan commitments , the Group creates the allowance according to IFRS 9 based on the expected credit losses and taking into account forecasts and expected future economic conditions in the context of credit risk. The process of estimating expected credit losses requires the use of significant estimates, in particular in the area of: 1) assumptions regarding macroeconomic forecasts and possible scenarios how these forecasts will develop in the future, 2) rules (thresholds) for identifying a significant increase in credit risk. More information on the principles applied by the Group for determining expected credit losses, the significant assumptions applied in this area and sensitivity analysis of expected credit losses due to changes in PD and RR/LGD parameters and sensitivity analysis on the macroeconomic outlook are presented in the Note 45.2. 4.5.2 Impairment of non-current assets (including goodwill) At each balance sheet date the Group reviews its non -current assets for indications of impairment. The Group performs an impairment test of goodwill on a yearly basis or more often if impairment triggers occur. Where such indications exist, the Group makes a n estimation of the recoverable value (of a given assets or – in the case of goodwill - all cash-generating units to which the goodwill relates ). If the carrying amount of a given asset is in excess of its recoverable value, impairment is defined and a write -down is recorded to adjust the carrying amount to the level of its recoverable value. The recoverable amount of an asset or a cash-generating unit is the higher of its fair value less costs to sell and its value-in-use. Estimation of the value-in-use of an assets (or cash generating unit) requires assumptions to be made regarding, among other, future cash flows which the Group may obtain from the given asset (or cash generating unit), any changes in amount or timing of oc currence of these cash flows and other factors such as the lack of liquidity. The adoption of different measurement assumptions may affect the carrying amount of some of the Group’s non-current assets. As at 31 December 202 5, the Group assessed whether the current market conditions have an impact on the impairment of non-current assets. As a result of this analysis, no need was found to make impairment allowances of non -current assets, including goodwill. The main assumptions used in the goodwill impairment test are presented in Note 27. 4.5.3. Provisions for legal risk regarding foreign currency mortgage loans in CHF At each balance sheet date, the Group estimates the amount of possible loss resulting from the legal risk related to foreign currency mortgage loans in CHF, and in the case of loans outstanding as at the balance sheet date, the estimate of this loss is an element of the gross carrying amount of the loan determined by the Bank, and the possible excess of the estimated loss over the gross carrying amount is presented similarly to the provision established for repaid loans, i.e. in accordance with IAS 37 as an element of the ‘Provisions’. Key elements of the estimate include: 1) a forecast of the total scale and duration of disputes, 2) expected financial effects of legal disputes, 3) consideration of a settlement program with borrowers. Details on the main assumptions used to estimate the provisions for legal risk regarding foreign currency mortgage loans in CHF and the sensitivity analysis in relation to the significant assumptions of the provision calculation are presented in the Note 45.3.
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26 Bank Pekao S.A. Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) 4.5.4. Measurement of derivatives, unquoted debt securities measured at fair value through other comprehensive income and loans and advances to customers measured at fair value through other comprehensive income and measured at fair value through profit or loss The fair value of non-option derivatives, debt securities measured at fair value through other comprehensive income and loans and advances to customers measured at fair value through other comprehensive income and measured at fair value through profit or loss that do not have a quoted market price on an active market is measured using valuation models based on discounted cash flows. Options are valued using option valuation models. Variables used for valuation purposes include, where possible, the data from observable markets. However, the Group also adopts assumptions concerning counterparty’s credit risks which affect the valuation of instruments. The adoption of other measurement assumptions may affect the valuation of these financial instruments. The assumptions used for fair value measurement are described in detail in the Note 45.9. 5. Operating segments Data reported in the section stem from the application of the management model (‘Model’) used to prepare reports for the Bank's Management Board in which the main criterion for segmentation is the classification of customers based on their profile and service model. Reporting and monitoring of results, for managerial purposes, include all components of the income statement up to the gross profit level, which is the main measure for assessing the segments’ activities by the Bank’s Management Board . Therefore, the income from the segment’s activities as well as operating costs related to those activities (including direct and allocated costs in line with the allocation model applied) and other components of income statement are attached to each segment. The cost allocation model used by the Bank involves the settlement of mutual services between business segments and the allocation of business support and management costs based on established keys. Allocated costs are included in individual business segments under the category ‘Other administrative costs and depreciation (including allocation of operating costs)’. The Group settles transactions between segments on an arm’s length basis by applying current market prices. Fund transfers between retail, private, corporate and investment banking segments, and the assets and liabilities management and other area are based on market prices applicable to the funds’ currency and maturity, including liquidity margins. Information regarding key customers is presented in Note 44. As a result of changes to the Bank's organizational structure and the division of responsibilities among Management Board members in 2025, the Retail Banking and Private Banking divisions were combined into a single Retail and Private Banking Division. Consequently, Retail Banking and Private Banking were combined into a single business segment: Retail and Private Banking. Previous periods have been made comparable. Operating segments The operating segments of the Group are as follows: • Retail banking – all banking activities related to individual customers (excluding private banking customers) and micro companies with an annual turnover not exceeding EUR 2 million, using simplified accounting, as well as results of the subsidiaries, and shares in net profit of associates accounted for using the equity method, that are assigned to the retail banking activity. • Corporate and Investment banking – all banking activities related to large companies and results of the subsidiaries that are assigned to the Corporate and Investment banking activity, • Enterprise banking - full scope of banking activities concerning servicing small and medium-sized companies with annual turnover of up to PLN 500 million in the case of single enterprises and PLN 700 million in the case of capital groups and micro companies using full accounting, • Assets and Liabilities management and other – supervision and monitoring of fund transfers, interbank market, debt securities and other instruments, other activities centrally managed as well as the results of subsidiaries and share in net profit of associates accounted for using the equity method that are not assigned to other reported segments .
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27 Bank Pekao S.A. Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Operating segments reporting for the period from 1 January to 31 December 2025 RETAIL & PRIVATE BANKING CORPORATE AND INVESTMENT BANKING ENTERPRISE BANKING ASSETS & LIABILITIES MANAGEMENT AND OTHER TOTAL External interest income 7 079 4 980 1 953 5 203 19 215 External interest expenses (2 250) (2 026) (510) (736) (5 522) Net external interest income 4 829 2 954 1 443 4 467 13 693 Internal interest income 7 733 3 172 1 663 (12 568) - Internal interest expenses (5 235) (3 825) (1 468) 10 528 - Net internal interest income 2 498 (653) 195 (2 040) - Total net interest income 7 327 2 301 1 638 2 427 13 693 Fee and commission income and expense (Note 7) 1 537 851 781 (15) 3 154 Other non-interest income (248) 390 79 97 318 Operating income of reportable segments 8 616 3 542 2 498 2 509 17 165 Personnel expenses (1 342) (442) (325) (1 148) (3 257) Other administrative expenses and depreciation (including allocation of operating costs) (2 434) (372) (536) 1 069 (2 273) Operating costs (3 776) (814) (861) (79) (5 530) Gross operating profit 4 840 2 728 1 637 2 430 11 635 Net allowances for expected credit losses (64) (263) (415) (18) (760) Costs of legal risk of foreign currency mortgage loans (664) - - - (664) Net operating profit 4 112 2 465 1 222 2 412 10 211 Contributions to the Bank Guarantee Fund (142) (102) (50) (90) (384) Tax on certain financial institutions (382) (284) (136) (59) (861) Share in gains/losses of associates - - - (5) (5) Profit before tax 3 588 2 079 1 036 2 258 8 961 Income tax expense (1 942) Net profit 7 019 Attributable to equity holders of the Bank 7 015 Attributable to non-controlling interest 4 Allocated assets 95 200 99 106 33 066 122 058 349 430 Unallocated assets 2 803 Total assets 352 233 Allocated liabilities 174 895 75 032 43 937 22 593 316 457 Unallocated liabilities 414 Total liabilities 316 871
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28 Bank Pekao S.A. Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Operating segments reporting for the period from 1 January to 31 December 2024 RETAIL & PRIVATE BANKING CORPORATE AND INVESTMENT BANKING ENTERPRISE BANKING ASSETS & LIABILITIES MANAGEMENT AND OTHER TOTAL External interest income 7 012 5 219 1 956 4 623 18 810 External interest expenses (2 654) (2 328) (518) (581) (6 081) Net external interest income 4 358 2 891 1 438 4 042 12 729 Internal interest income 7 776 3 667 1 826 (13 269) - Internal interest expenses (5 341) (4 352) (1 532) 11 225 - Net internal interest income 2 435 (685) 294 (2 044) - Total net interest income 6 793 2 206 1 732 1 998 12 729 Fee and commission income and expense (Note 7) 1 355 745 722 32 2 854 Other non-interest income (80) 292 69 185 466 Operating income of reportable segments 8 068 3 243 2 523 2 215 16 049 Personnel expenses (1 393) (452) (344) (1 117) (3 306) Other administrative expenses and depreciation (including allocation of operating costs) (2 226) (312) (477) 1 077 (1 938) Operating costs (3 619) (764) (821) (40) (5 244) Gross operating profit 4 449 2 479 1 702 2 175 10 805 Net allowances for expected credit losses (233) (506) (88) (56) (883) Costs of legal risk of foreign currency mortgage loans (669) - - - (669) Net operating profit 3 547 1 973 1 614 2 119 9 253 Contributions to the Bank Guarantee Fund (184) (127) (60) 132 (239) Tax on certain financial institutions (361) (259) (119) (159) (898) Share in gains/losses of associates - - - 7 7 Profit before tax 3 002 1 587 1 435 2 099 8 123 Income tax expense (1 744) Net profit 6 379 Attributable to equity holders of the Bank 6 376 Attributable to non-controlling interest 3 Allocated assets 91 915 89 806 29 362 120 472 331 555 Unallocated assets 2 687 Total assets 334 242 Allocated liabilities 168 354 74 113 42 551 15 989 301 007 Unallocated liabilities 1 321 Total liabilities 302 328 Reconciliations of operating income for reportable segments 2025 2024 Net interest income 13 693 12 729 Net fee and commission income 3 154 2 854 Dividend income 34 30 Result on financial assets and liabilities measured at fair value through profit or loss and foreign exchange result 346 429 Result from derecognition of financial assets and financial liabilities not at fair value through profit or loss 102 15 Other operating income 249 215 Other operating expenses (413) (223) Total operating income for reportable segments 17 165 16 049
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29 Bank Pekao S.A. Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) 6. Interest income and expense Significant accounting policies Interest income includes interest and commission fees received or due from loans, interbank deposits and securities measured at amortised cost recognized in the calculation of effective interest rate of loans and financial assets measured at fair val ue through other comprehensive income or thr ough profit or loss and hedging derivatives , and income similar to interest on financial leases. The effective interest rate is the discount rate of estimated future cash inflows and payments made during the expected period until the expiry date of the financial instruments. The calculation of the effective interest rate includes all commissions paid and received by parties to the agreement, transaction costs and all other premiums and discounts, comprising an integral part of the effective interest rate. Gross carrying amount of the financial asset is the basis for interest income calculation except for credit -impaired financial assets (‘in Stage 3’) and purchased or originated credit -impaired financial assets (POCI assets). At the recognition of impairment of financial assets measured at amorti sed cost or financial assets measured at fair value through other comprehensive income, the interest income is still recognized in profit or loss but is calculated by applying the effective interest rate to the gross carrying amount less the impairment charges. Interest expense related to liabilities associated with client accounts and debt securities issued are recognized in the prof it or loss using the effective interest rate. Income and expense from bancassurance The Group splits the remuneration for sale of insurance products linked to loans into separate components, i.e. dividing the remuneration into proportion of fair value of financial instrument and fair value of intermediary service to the sum of those values. The fair values of particular components of the remuneration are determined based on market data to a highest degree. The particular components of the Group ’s remuneration for sale of insurance products linked to loans are recognized in the income statement according to the following principles: • remuneration from financial instrument – as part of effective interest rate calculation, included in interest income, • remuneration for intermediary service – upfront at the time when the insurance product in sold, included in fee and commission income. Additionally the Group estimates the part of the remuneration which will be refunded during the periods of sale of the insurance product (e.g. due to early termination of insurance contract, early repayment of loan). The estimate of the amount is based on the analysis of historical data and expectations in respect to refunds trend in the future . Financial data Interest income and similar to interest 2025 2024 Interbank placements 586 694 Loans and advances and other receivables from customers 11 576 11 453 measured at amortise cost 11 531 11 417 measured at fair value through other comprehensive income 14 12 measured at fair value through profit or loss 31 24 Receivables from financial leases 781 838 Debt securities 5 812 5 378 measured at amortise cost 4 687 3 673 measured at fair value through other comprehensive income 1 082 1 675 measured at fair value through profit or loss 43 30 Reverse repo transactions 460 447 Total (*) 19 215 18 810 (*) Including revenues from hedging derivative instruments in the amounts respectively, minus PLN 407 million for 2025 (minus PLN 690 million for 2024).
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30 Bank Pekao S.A. Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Interest income and similar to interest 2025 2024 Interest income calculated using the effective interest method on financial instruments valued: 18 360 17 918 measured at amortise cost 17 264 16 231 measured at fair value through other comprehensive income 1 096 1 687 Income similar to interest 855 892 Total 19 215 18 810 Interest expense 2025 2024 Deposits from customers (3 951) (4 523) Interbank deposits (70) (55) Repo transactions (194) (195) Loans and advances received (164) (244) Leasing (29) (34) Debt securities (1 114) (1 030) Total (*) (5 522) (6 081) (*) Including the expenses from hedging derivative instruments in the amounts respectively, plus PLN 28 million on 2025 (plus PLN 38 million on 2024). 7. Fee and commission income and expense Significant accounting policies Fee and commission income is generated from financial services provided by the Group and are measured based on the remuneration specified in the contract with the client. Fee and commission income includes, among others: fees for granting loans (without schedules), for committing to grant a loan, fees for issuing cards, for card transactions, for servicing and selling investment and insurance products, for servicing bank accounts, for cash deposits and withdrawals, for trustee services, for securities operations and margins obtained on currency exchange transactions. Fee and commission income related to financial assets without specific repayment schedules (mainly overdrafts, working capital loans, credit card loans) and from the issuance, extension of the deadline, increase in the amount of guarantees and letters of credit, are amortised using the straight-line method over the life of the product to which they relate and are recognized in the income statement in the item ‘Fee and commission income’. Commissions and fees for committing to grant loans that are most likely to be granted are deferred and, when the financial assets are initially recognized, they are settled using the effective interest rate . In the case of other fees and commissions related to financial services offered by the Group, a five-stage revenue recognition model is applied, i.e.: 1) identifying the contract, 2) indication of the elements (individual obligations) contained in the contract, 3) determining the price, 4) allocating the price to individual element of the contract, 5) recognition of revenue after meeting the conditions related to individual elements of the contract. The Group applies the above model each time and recognizes income from commissions and fees: 1) once (when a service has been performed and control over the service has been transferred to the other party to the contract), 2) over time, when the service is provided over a period of time The above settlement model is used primarily for services such as: fees for issuing cards, for card transactions, for servici ng and selling investment products, for servicing bank accounts, for cash deposits and withdrawals, for custody services, for securities operations and margins obtained on currency exchange transactions. The accounting policies relating income and expenses from bancassurance are described in Note 6.
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31 Bank Pekao S.A. Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Financial data Fee and commission income 2025 2024 Accounts maintenance, payment orders and cash transactions 631 605 Payment cards 944 851 Loans and advances 507 503 Margin on foreign exchange transactions with clients 752 707 Service and sell investment and insurance products 750 607 Securities operations 218 177 Custody activity 93 77 Guarantees, letters of credit and similar transactions 88 96 Other 133 108 Total 4 116 3 731 Fee and commission expense 2025 2024 Payment cards (602) (543) Cash turnover (98) (119) Money orders and transfers (24) (24) Securities and derivatives operations (46) (40) Acquisition services (86) (62) Custody activity (33) (26) Accounts maintenance (8) (7) Other (65) (56) Total (962) (877) The tables below show fee and commission income by main business lines. 2025 RETAIL & PRIVATE BANKING CORPORATE AND INVESTMENT BANKING ENTERPRISE BANKING ASSET AND LIABILITY MANAGEMENT AND OTHER TOTAL Accounts maintenance, payment orders and cash transactions 312 124 195 - 631 Payment cards 556 329 56 3 944 Margin on foreign exchange transactions with clients 273 178 298 3 752 Service and sell investment and insurance products 698 48 3 1 750 Securities operation, including custody activity 72 234 5 - 311 Other 70 42 21 - 133 Total fee and commission income from contracts with customers in the scope of IFRS 15 1 981 955 578 7 3 521 Loans and advances 6 256 244 1 507 Guarantees, letters of credit and similar transactions (2) 51 38 1 88 Total fee and commission income as presented in the Operating Segment Note 5 1 985 1 262 860 9 4 116 Total fee and commission expenses (448) (411) (79) (24) (962) Net fee and commission income 1 537 851 781 (15) 3 154
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32 Bank Pekao S.A. Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) 2024 RETAIL & PRIVATE BANKING CORPORATE AND INVESTMENT BANKING ENTERPRISE BANKING ASSET AND LIABILITY MANAGEMENT AND OTHER TOTAL Accounts maintenance, payment orders and cash transactions 296 123 185 1 605 Payment cards 501 294 52 4 851 Margin on foreign exchange transactions with clients 262 160 283 2 707 Service and sell investment and insurance products 557 48 1 1 607 Securities operation, including custody activity 61 192 1 - 254 Other 60 25 22 1 108 Total fee and commission income from contracts with customers in the scope of IFRS 15 1 737 842 544 9 3 132 Loans and advances 48 230 222 3 503 Guarantees, letters of credit and similar transactions (2) 62 35 1 96 Total fee and commission income as presented in the Operating Segment Note 5 1 783 1 134 801 13 3 731 Total fee and commission expenses (428) (389) (79) 19 (877) Net fee and commission income 1 355 745 722 32 2 854 8. Dividend income Significant accounting policies Dividends from equity instruments, both measured at fair value through profit or loss and designated for valuation through other comprehensive income, are recognized in the income statement when the Bank’s right to receive payment is established. Financial data Income from dividends 2025 2024 Issuers of securities measured at fair value through profit or loss 3 1 Issuers of equity instruments designated at fair value through other comprehensive income 31 29 Total 34 30 9. Result on financial assets and liabilities measured at fair value through profit or loss and foreign exchange result Significant accounting policies Result on financial assets and liabilities measured at fair value through profit or loss and foreign exchange result Result on financial assets measured at fair value through profit or loss includes: • Foreign exchange result The foreign exchange gains (losses) are calculated taking into account the positive and negative foreign currency translation differences, whether realized or unrealized from the daily valuation of assets and liabilities denominated in foreign currencies. The revaluation is perform using the average exchange announced by the NBP on the balance sheet date. Moreover, the foreign exchange result includes swap points from derivative transactions, entered into by the Group for the purpose of managing the Group’s liquidity in foreign currencies. • Result on derivatives, loans and advances to customers and securities measured at fair value through profit or loss. The income referred to above includes gains and losses realized on a sale or a change in the fair value of financial assets and liabilities measured at fair value through profit or loss. The accrued interest and unwinding of a discount or a premium on loans and advances to customers and debt securities measured at fair value through profit or loss is presented in the net interest income.
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33 Bank Pekao S.A. Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Financial data Result on financial assets and liabilities measured at fair value through profit or loss and foreign exchange result 2025 2024 Result on loans and advances to customers measured mandatorily at fair value through profit or loss (38) 17 Result on securities measured mandatorily at fair value through profit or loss 33 52 Foreign exchange result 233 166 Result on derivatives 36 133 Result on securities held for trading 83 60 Result on fair value hedge accounting (*) (1) 1 Total 346 429 (*) The specification presented in Note 21. Hedge accounting. 10. Result on derecognition of financial assets and liabilities not measured at fair value through profit or loss Significant accounting policies The result on derecognition of financial assets and liabilities not measured at fair value through profit or loss concerns: a) the result on the sale of financial assets and liabilities that are not measured at fair value through profit or loss , b) results due to substantial modification. Financial data Realized gains 2025 2024 Financial assets measured at amortised cost 33 18 Financial assets measured at fair value through other comprehensive income 94 31 Total 127 49 Realized losses 2025 2024 Financial assets measured at amortised cost (24) (34) Financial assets measured at fair value through other comprehensive income (1) - Total (25) (34) Net realized profit / loss 102 15 11. Net allowances for expected credit losses Significant accounting policies The Group recognizes a loss allowance for expected credit losses on a financial asset that is measured at amortized cost or at fair value through other comprehensive income, a financial lease receivable, a contract asset or a loan commitment and a financial guarantee contract, and also recognises provisions for loan commitments, financial guarantee contracts and performance bond contracts measured in accordance with IFRS 9, due to the fact that these types of contracts only have credit risk associated with the non-receipt of refunds from customers, but there is no significant insurance risk. Net allowance for expected credit losses for financial assets that are measured at fair value through other comprehensive income is recognised in other comprehensive income and is not reducing the carrying amount of the financial asset in the statement of financial position. If, at the reporting date, the credit risk on a financial instrument has not increased significantly since initial recognitio n, the Group measures the loss allowance for that financial instrument at an amount equal to 12 -month expected credit losses. At each reporting date, the Group measures net allowance for a financial instrument at an amount equal to the lifetime expected credit losses if the credit risk on that financial instrument has increased significantly since initial recognition.
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34 Bank Pekao S.A. Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) A financial asset is credit-impaired when one or more events that have a detrimental impact on the estimated future cash flows of that financial asset have occurred. Evidence that a financial asset is credit -impaired include observable data about the following events: 1) the overdue amount simultaneously exceeding the specified materiality threshold and the relative threshold of 1% for more than 90 days, 2) significant financial difficulty of the issuer or the borrower, 3) a breach of contract, such as a default or past due event, 4) the lender(s) of the borrower, for economic or contractual reasons relating to the borrower’s financial difficulty, having granted to the borrower a concession(s) that the lender(s) would not otherwise consider, 5) it is becoming probable that the borrower will enter bankruptcy or other financial reorganization, 6) the disappearance of an active market for that financial asset because of financial difficulties, or 7) the purchase or origination of a financial asset at a deep discount that reflects the incurred credit losses. The Group recognises in profit or loss, changes in expected credit losses and impairment losses occurring in the reporting period. For loan commitments and financial guarantee contracts, the date that the Bank becomes a party to the irrevocable commitment shall be considered to be the date of initial recognition for the purposes of applying the impairment requirements. At each reporting date, the Group recognises in profit or loss the amount of the change in lifetime expected credit losses on POCI assets as an impairment gain or loss. An entity shall recognise favourable changes in lifetime expected credit losses as an impairment gain, even if the lifetime expected credit losses are less than the amount of expected credit losses that were included in the estimated cash flows on initial recognition. The Group measures the loss allowance at an amount equal to lifetime expected credit losses for: 1) trade receivables or contract assets that result from transactions that are within the scope of IFRS 15, 2) receivables that result from transactions that are within the scope of IFRS 16 (other than receivables from finance lease). Expected credit losses are not recognized for impairment of equity instruments. The methodology for calculating expected credit losses is described in detail in ‘The description of the model for impairment allowance’ in Note 45.2. Financial data Net allowances for expected credit losses 2025 2024 Receivables from banks and cash and cash equivalents 1 3 Loans and advances to customers measured at amortized cost (*) (790) (878) Debt securities measured at amortised cost (5) 10 Loans measured at fair value through other comprehensive income (34) (2) Debt securities measured at fair value through other comprehensive income (4) 10 Receivables from financial leases (51) (48) Off-balance sheet commitments 123 22 Total (760) (883) (*) In 2025 the Group sold a portfolio of loan receivables with a total gross carrying amount of PLN 406 million (the conditions for derecognizing these receivables were met). The realized result on the transaction decreasing the costs of allowances for expected credit losses was PLN 63 million. 12. Other operating income and expenses Significant accounting policies Other operating income includes mainly revenues from received compensations, revenues from operating leases, net revenues from sale of products, goods and services and miscellaneous revenues. Other operating expenses include mainly the costs of provision for legal claims , debt collection costs, impairment allowance on fixed and other assets, costs of pursuing disputed receivables client claims, compensation paid and miscellaneous expenses. Miscellaneous revenues and costs mainly consist of annual settlements related to changes in the VAT ratio.
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35 Bank Pekao S.A. Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Financial data Other operating income 2025 2024 Gains on disposal of property, plant and equipment 156 128 Premises rental income, terminals and IT equipment 27 25 Operating leasing net income 2 3 Compensation, recoveries, penalty fees and fines received 15 15 Miscellaneous income 16 14 Net revenues from sale of products, goods and services 5 7 Other 28 23 Total 249 215 Other operating expenses 2025 2024 Provision for liabilities disputable and other provisions (*) (194) (44) Credit and factoring debt collection costs (21) (31) Card transactions monitoring costs (23) (22) Costs of pursuing disputed receivables and complaints (72) (60) Impairment allowance on fixed assets, litigations and other assets (50) (25) Other (53) (41) Total (413) (223) (*) The value for 2025 includes the costs of provisions for the Office of Competition and Consumer Protection proceedings, described in Note 40, in the amount of PLN 201.6 million. 13. General administrative expenses and depreciation Significant accounting policies General administrative expenses Personnel expenses and other employee benefits mainly include wages and salaries, social insurance and share based payments costs which are described in detail in Note 39. Other administrative expenses mainly include the tax of certain financial institutions, maintenance costs of Group’s fixed assets, IT and telecommunications infrastructure also marketing and advertising costs. This cost category also includes contributions and payments to the Bank Guarantee Fund (quarterly contributions to the banks’ guarantee fund and annual contribution to the banks’ compulsory resolution fund paid once a year), the fee paid to the aid fund established in the Protection Scheme Managing Entity and a mandatory fees to the Polish Financial Supervision Authority (to cover the cost of banking supervision and to cover the costs of supervision over the capital market) which Group recognizes in the profit or loss at the time of the obligating event. Depreciation Depreciation expense for property, plant and equipment and investment properties and the amortization expense for intangible assets are calculated using straight line method over the expected useful life of an asset. Depreciated value is defined as t he purchase price or cost to develop a given asset, less residual value of the asset. Depreciation rates and residual values of assets, determined for balance-sheet purposes, are subject to regular reviews, with results of such reviews recognized in the same period. The statement of financial position depreciation and amortization rates applied to property, plant and equipment, investment properties and intangible assets are as follows: a) depreciation rates applied for non-current assets Buildings and structures and cooperative ownership rights to residential premises and cooperative ownership rights to commercial premises 1.5% – 10.0% Technical equipment and machines 4.5% – 30.0% Vehicles 20% – 33.3%
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36 Bank Pekao S.A. Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) b) amortization rates for intangible assets Licenses and patents 10.0% – 50.0% Assets under construction 12.5% – 33.3% Other intangible assets 12.5% – 33.3% Land, non-current assets under construction and intangible assets under development are not subject to depreciation and amortization. Depreciation are charged to the income statement in the item ‘ General administrative expenses and depreciation ’, whereas the impairment losses are charged to the income statement in the item ‘Other operating expenses’. Financial data Personnel expenses 2025 2024 Wages and salaries, including: (2 702) (2 740) cost of contributions to Employee Capital Plans (27) (25) Insurance and other charges related to employees, including: (525) (505) salary surcharges (438) (431) Share-based payments expenses (Note 38) (30) (61) Total (3 257) (3 306) Other administrative expenses 2025 2024 Overheads, including: (1 434) (1 146) IT and telecommunications expenses (571) (435) property maintenance and service expenses (234) (249) advertising and marketing expenses (187) (131) consulting services and information sharing expenses (173) (107) Tax on certain financial institutions (861) (898) Contributions to the Bank Guarantee Fund: (384) (239) to the resolution fund (281) (239) to the bank's guarantee fund (103) - Fees to cover costs of supervision over banks (KNF) (46) (40) Other taxes and fees (54) (50) Total (2 779) (2 373) Depreciation 2025 2024 Property, plant and equipment (339) (342) Intangible assets (400) (360) Total (739) (702) Total administrative expenses and depreciation (6 775) (6 381) 14. Share in gains/losses on associates Significant accounting policies Principles of classification and measurement are described in the Note 4.4 Financial data 2025 2024 Share in gains/losses on associates Krajowy Integrator Płatności S.A. (6) 7 PZU Fundusz Inwestycyjny Zamknięty Private Debt 1 - Total (5) 7
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37 Bank Pekao S.A. Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) 15. Income tax Significant accounting policies Income tax expense comprises current and deferred tax. The income tax expense is recognized in the income statement excluding the situations when it is recognized directly in equity. The current tax is the tax payable of the Group entities on their taxable income for the period, calculated based on binding tax rates, and any adjustment to tax payable in respect of previous years. The receivables resulting from taxes are disclosed if the Group’s companies has sufficient certainty that they exist and that they will be recovered. Deferred tax assets and d eferred tax liabilities are calculated, using the balance sheet method, on temporary differences between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes. Deferred income tax is determined using tax rates based on legislation enacted or substantively enacted at the balance sheet date and expected to apply when the deferred tax asset or the deferred tax liability is realized. A deferred tax asset is recognized for negative temporary differences to the extent that it is probable that taxable profit w ill be available against which the deductible temporary difference can be utilized. A deferred tax liability is calculated using the balance sheet method based on identification of positive temporary differenc es between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for tax purposes. Financial data The below additional information notes present the Group gross profit’s. Reconciliation between tax calculated by applying the current tax rate to accounting profit and the actual tax charge presented in the separate income statement. 2025 2024 Profit before income tax 8 961 8 123 Tax charge according to applicable tax rate 1 703 1 543 Non taxable income (*) (29) (75) Non tax deductible costs 474 376 Bank Guarantee fund fee 73 45 banking tax 163 171 the provision for legal risk regarding foreign currency mortgage loans CHF 128 67 allowances for expected credit losses 24 65 other non-tax deductible costs 86 28 The impact of the tax rates applied in accordance with Article 19(1)(2) of the CIT Act - - Deferred tax charge arising from changes in tax rates (179) - Tax relieves not included in the income statement (**) (53) (95) Other 26 (5) Effective income tax charge on gross profit 1 942 1 744 Effective tax rate 21.67% 21.47% (*) Including in 2024 an estimated adjustment to taxable income resulting from expected future invalidation of CHF loan agreements as a result of pending legal cases. (**) The amount determined in accordance with the regulation of the Minister of Finance of 11 March 2022 on the cessation of collection of income tax on certain income (revenue) in connection with a mortgage loan granted for housing purposes. The applied tax rate of 19% is the corporate income tax rate binding in Poland till the end of 2025. As a result of the increase in the corporate income tax rate applicable to banks to 30% in 2026, 26% in 2027, and 23% in 2028 and subsequent years, the Bank carried out a revaluation of deferred tax assets and provisions. The revaluation was performed using the tax rates expected to be in force at the dates on which individual temporary differences are likely to be realized. For some temporary differences, it is difficult to determine exactly when they will be realized, because this depends not only on the Bank’s actions but also on external factors, including market conditions. In such cases, the deferred tax asset was revalued applying the prudence principle. As at 31 December 2025, the value of the deferred tax asset increased by 161 million PLN as a result of the revaluation. This revaluation had a positive impact of 179 million PLN on the Bank’s profit or loss account and a negative impact of 18 million PLN on other comprehensive income.
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38 Bank Pekao S.A. Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Impact of Regulations Related to the Global Minimum Tax (Pillar 2) The regulations concerning the global minimum tax (the so-called global top-up tax, Pillar 2), introduced as part of the OECD’s BEPS 2.0 project, aim to limit tax competition between countries and ensure a minimum global corporate income tax rate of 15%. These rules apply to multinational and domestic groups with consolidated revenues exceeding EUR 750 million in at least two of the four fiscal years preceding the relevant tax year. The PZU Group, to which the Bank’s Capital Group belongs meets the criteria for inclusion within the scope of these regulations and monitors their impact on its tax burden. In Poland, the rules implementing Pillar 2 were introduced by the Act of 6 November 2024 on the top-up taxation of constituent entities of multinational and domestic groups, effective from 1 January 2025. The PZU Group, to which the Bank’s Capital Group belongs is undertaking activities aimed at adjusting reporting processes and analysing the effects of the global minimum tax. Based on the available preliminary financial data for 2025, an assessment of eligibility for the Transitional Safe Harbours (TSH) was conducted, confirming that the conditions for applying the Transitional CbCR Safe Harbour were met, which results in no requirement to perform full calculations of the domestic top-up tax or the global minimum tax, and no obligation to pay domestic top-up taxes. The basic components of income tax charge presented in the income statement and equity 2025 2024 INCOME STATEMENT Current tax charge in the income statement (2 323) (2 028) Adjustments related to the current tax from previous years (8) 8 Other taxes (e.g. withholding tax) (2) (2) Current tax (2 333) (2 022) Occurrence and reversal of temporary differences 391 278 Deferred tax 391 278 Tax charge in the consolidated income statement (1 942) (1 744) EQUITY Current tax Income and costs disclosed in other comprehensive income: revaluation of financial instruments - cash flows hedges (200) (16) fair value revaluation through other comprehensive income (73) (30) Tax on items that are or may be reclassified subsequently to profit or loss (273) (46) Fair value revaluation through other comprehensive income – equity securities (42) 12 Remeasurements the defined benefit liabilities 4 - Tax charge on items that will never be reclassified to profit or loss (38) 12 Deferred tax (311) (34) Total charge (2 253) (1 778)
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39 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Bank Pekao S.A. CHANGES IN TEMPORARY DIFFERENCES IN 2025 OPENING BALANCE CHANGES RECOGNIZED IN CLOSING BALANCE TOTAL DEFERRED TAX THE INCOME STATEMENT OTHER COMPREHENSIVE INCOME THE INCOME STATEMENT OTHER COMPREHENSIVE INCOME TOTAL DEFERRED TAX THE INCOME STATEMENT OTHER COMPREHENSIVE INCOME DEFFERED TAX LIABILITY Accrued income – securities 369 369 - (157) - 212 212 - Accrued income – loans 148 148 - 35 - 183 183 - Positive valuation of financial assets 511 511 - 906 - 1 417 1 417 - Accelerated depreciation 184 184 - 91 - 275 275 - Investment relief 2 2 - - - 2 2 - Paid intermediation costs 221 221 - (82) - 139 139 - Other 53 53 - 6 - 59 59 - Gross deferred tax liability 1 488 1 488 - 799 - 2 287 2 287 - DEFFERED TAX ASSET Accrued expenses – securities 14 14 - (2) - 12 12 - Accrued expenses – deposits and loans 141 141 - 20 - 161 161 - Negative valuation of financial assets 680 525 155 901 (315) 1 266 1 426 (160) Income received to be amortised over time from loans and current accounts 373 373 - (178) - 195 195 - Loan provisions charges for expected credit losses 935 935 - 260 - 1 195 1 195 - Personnel related provisions 185 167 18 42 4 231 209 22 Accruals 54 54 - 30 - 84 84 - Previous year losses 2 2 - (2) - - - - Difference between accounting and tax value of leased assets and other differences from leasing 304 304 - 29 - 333 333 - Other 125 125 - 90 - 215 215 - Gross deferred tax assets 2 813 2 640 173 1 190 (311) 3 692 3 830 (138) Deferred tax charge X X X 391 (311) X X X Net deferred tax assets 1 343 1 170 173 X X 1 426 1 564 (138) Net deferred tax liability 18 18 - X X 21 21 -
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40 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Bank Pekao S.A. CHANGES IN TEMPORARY DIFFERENCES IN 2024 OPENING BALANCE CHANGES RECOGNIZED IN CLOSING BALANCE TOTAL DEFERRED TAX THE INCOME STATEMENT OTHER COMPREHENSIVE INCOME THE INCOME STATEMENT OTHER COMPREHENSIVE INCOME TOTAL DEFERRED TAX IN THE INCOME STATEMENT OTHER COMPREHENSIVE INCOME DEFFERED TAX LIABILITY Accrued income – securities 464 464 - (95) - 369 369 - Accrued income – loans 190 190 - (42) - 148 148 - Positive valuation of financial assets 705 705 - (194) - 511 511 - Accelerated depreciation 155 155 - 29 - 184 184 - Investment relief 3 3 - (1) - 2 2 - Paid intermediation costs 210 210 - 11 - 221 221 - Other 9 9 - 44 - 53 53 - Gross deferred tax liability 1 736 1 736 - (248) - 1 488 1 488 - DEFFERED TAX ASSET Accrued expenses – securities - - - 14 - 14 14 - Accrued expenses – deposits and loans 137 137 - 4 - 141 141 - Negative valuation of financial assets 909 720 189 (195) (34) 680 525 155 Income received to be amortised over time from loans and current accounts 259 259 - 114 - 373 373 - Loan provisions charges for expected credit losses 921 921 - 14 - 935 935 - Personnel related provisions 146 128 18 39 - 185 167 18 Accruals 59 59 - (5) - 54 54 - Previous year losses 4 4 - (2) - 2 2 - Difference between accounting and tax value of leased assets and other differences from leasing 289 289 - 15 - 304 304 - Other 93 93 - 32 - 125 125 - Gross deferred tax assets 2 817 2 610 207 30 (34) 2 813 2 640 173 Deferred tax charge X X X 278 (34) X X X Net deferred tax assets 1 102 895 207 X X 1 343 1 170 173 Net deferred tax liability 21 21 - X X 18 18 -
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41 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Bank Pekao S.A. In the opinion of the Group the deferred tax asset in the amount of PLN 1 426 million reported as at 31 December 202 5 is sustainable in total amount. The analysis was performed based on the past results of the company and assumed results in the future periods. The analysis assumed the five years’ time horizon. As at 31 December 202 5 and 31 December 202 4, Group applied the exemption under IAS 12 and did not recognize a deferred tax liabilites on temporary differences related to investments in subsidiaries and associates in connection with controlling the timing of reversal of these temporary differences and being probable that these differences will not reverse in foreseeable future. The total amount of temporary differences contituting the basis of the unrecognized deferred tax liability from retained earnings as at 31 December 2025 is PLN 2 million, and as at 31 December 2024 r. is PLN 3 million. 16. Earnings per share Basic earnings per share Basic earnings per share are calculated by dividing the net profit attributable to equity holders of the Bank by the weighted average number of the ordinary shares outstanding during the period. 2025 2024 Net profit 7 015 6 376 Weighted average number of ordinary shares in the period 262 470 034 262 470 034 Earnings per share (in PLN per share) 26.73 24.29 Diluted earnings per share Diluted earnings per share are calculated by dividing the net profit attributable to equity holders of the Bank by the weighted average number of the ordinary shares outstanding during the given period adjusted for all potential dilution of ordinary shares. As at 31 December 2025 and 31 December 2024 there were no diluting instruments in the Group. 2025 2024 Net profit 7 015 6 376 Weighted average number of ordinary shares in the period 262 470 034 262 470 034 Weighted average number of ordinary shares for the purpose of calculation of diluted earnings per share 262 470 034 262 470 034 Diluted earnings per share (in PLN per share) 26.73 24.29 17. Dividends As at the date of approval of these financial statements for publication, the Bank's Management Board has not made a decision regarding the recommendation regarding the payment of dividends for 2025. The Bank will inform about the decision taken in this respect in a separate announcement. 18. Cash and cash equivalents Significant accounting policies Cash and cash equivalents include cash in hand, amounts due from the National Bank of Poland, as well as amounts due from banks with a n original maturity of up to 3 months . Principles of classification and measurement are described in the Note 4.4. Financial data Cash and cash equivalents 31.12.2025 31.12.2024 Cash 4 581 4 461 Current account and deposits at Central Bank 6 404 7 577 Amounts due from banks with an original maturity of up to 3 months 1 035 2 236 Gross carrying amount 12 020 14 274 Allowances for expected credit losses (4) (5) Carrying amount 12 016 14 269
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42 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Bank Pekao S.A. The currency structure for the ‘Current account and deposit at Central Bank’ item is presented in the Note 45.4 in the section on currency risk. In the period from 8 December 2025 to 11 January 2026, the Bank is obliged to maintain an average mandatory reserve of PLN 9 117 million (in the period from 31 December 2024 to 9 February 2025: PLN 8 829 million). As at 31 December 2025 the interest rate of funds held on the mandatory reserve account is at 4.00% (as at 31 December 2024 – 5.75%). 19. Loans and advances to banks Significant accounting policies Principles of classification and measurement are described in the Note 4.4. Financial data Loans and advances to banks by product type 31.12.2025 31.12.2024 Interbank placements 95 5 Loans and advances 242 65 Other 164 102 Gross carring amount 501 172 Allowances for expected credit losses - - Carrying amount 501 172 Loans and advances to banks by contractual maturity 31.12.2025 31.12.2024 Loans and advances to banks up to 1 month 388 104 between 1 and 3 months - 18 between 3 months and 1 year 84 12 between 1 and 5 years 25 29 over 5 years 4 7 past due - 2 Gross carring amount 501 172 Allowances for expected credit losses - - Carrying amount 501 172 The currency structure for the Loans and advances to banks item is presented in Note 45.4 in the section on currency risk. 20. Derivative financial instruments (held for trading) Significant accounting policies The Group acquires the derivative financial instruments: currency transactions (spot, forward, currency swap and currency options, CIRS), exchange rate transactions (FRA, IRS, CAP), derivative transactions based on security prices, indices of stocks and commodities. Derivative financial instruments are initially recorded at fair value as at the transaction date and subsequently re-measured at fair value at each balance sheet date. The fair value is established on the basis of market quotations for an instrument traded in an active market, as well as on the basis of valuation techniques, incl uding models using discounted cash flows and options valuation models, depending on which valuation method is appropriate. Positive valuation of derivative financial instruments is presented in the statement of financial position in the line ‘Deriv ative financial instruments (held for trading)’ on an asset side, whereas the negative valuation – ‘Derivative financial instruments (held for trading)’ on a liabilities side. In case of contracts that are not financial instruments with a component of an instrument meeting the above conditions the built-in derivative instrument is classified in accordance with assets or liabilities of derivatives financial instruments with respect to the income statement in accordance with derivative financial instruments valuation principles.
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43 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Bank Pekao S.A. The method of recognition of the changes in the fair value of an instrument depends on whether a derivative instrument is classified as held for trading or is designated as a hedging item under hedge accounting. The changes in fair value of the derivative financial instruments held for trading are recognized in the income statement. Derivative financial instruments at the Group In its operations the Group uses different financial derivatives that are offered to the clients and are used for managing risks involved in the Bank’s business. The majority of derivatives at the Group include over-the-counter contracts. Regulated stock exchange contracts (mainly futures) represent a small part of those derivatives. Derivative foreign exchange transactions include the obligation to buy or sell foreign and domestic currency assets. Forward foreign exchange transactions are based on the foreign exchange rates, specified on the transaction date for a predefined future date. These transactions are valued using the discounted cash flow model. Cash flows are discounted according to zero-coupon yield curves, relevant for a given market. Foreign exchange swaps are a combination of a swap of specific currencies as at spot date and of reverse a transaction as at forward date with foreign exchange rates specified in advance on transaction date. Transactions of such type are settled by an exchange of assets. These transactions are valued using the discounted cash flow model. Cash flows are discounted according to zero-coupon yield curves relevant for a given market. Foreign exchange options with delivery are defined as contracts, where one of the parties, i.e. the option buyer, purchases from the other party, referred to as the option writer, at a so-called premium price the right without the obligation to buy (call option) or to sell (put option), at a specified point of time in the future or during a specified time range a foreign currenc y amount specified in the contract at the exchange rate set during the conclusion of the option agreement. In case of options settled in net amounts, upon acquisition of the rights, the buyer receives an amount of money equal to the product of notional and difference between spot ad strike price. Barrier option with one barrier is a type of option where exercise of the option depends on the underlying crossing or reaching a given barrier level. A barrier may be reached starting from lower (‘UP’) or from higher (‘DOWN’) level of the underlying instrument. ‘IN’ options start their lives worthless and only become active when a predetermined knock -in barrier price is breached. ‘OUT’ options start their lives active and become null and void when a certain knock-out barrier price is breached. Foreign exchange options are priced using the Garman-Kohlhagen valuation model (and in case of barrier and Asian options using the so -called expanded Garman -Kohlhagen model). Parameters of the model based on market quotations of plain - vanilla at-the-money options and market spreads for out-of-the-money and in-the-money options (volatility smile) for standard maturities. Derivatives related to interest rates enable the Group and its customers to transfer, modify or limit interest rate risk. In the case of Interest Rate Swaps (IRS), counterparties exchange between each other the flows of interest payments, accrued on the nominal amount identified in the contract. These transactions are valued using the discounted cash flow model. Floating (imp lied) cash flows are estimated on base of respective IRS rates. Floating and fixed cash flows are discounted by relevant zero-coupon yield curves. Forward Rate Agreements (FRA) involve both parties undertaking to pay interest on a predefined nominal amount for a specified period starting in the future and charged according to the interest rate determined on the day of the agreement The parties settle the transaction on value date using the reference rate as a discount rate in the process of discounting the difference between the FRA rate (forward rate as at transaction date) and the reference rate. These transactions are valued using the discounted cash flow model. Cross currency IRS involves both parties swapping capital and interest flows in different currencies in a specified period. These transactions are valued using the discounted cash flow model. Valuation of Basis Swap transactions (cross currency IRS with floating coupon) takes into account market quotations of basis spread (Basis swap spread). In the case of forward transactions on securities, counterparties agree to buy or sell specified securities on a forward date for a payment fixed on the date of transaction. Such transactions are measured based upon the valuation of the security (mark-to-market or mark-to-model) and valuation of the related payment (method of discounting cash flows by money market rate). Interest rate options (cap/floor) are contracts where one of the parties, the option buyer, purchases from the other party, t he option writer, at a so -called premium price, the right without the obligation to borrow (cap) or lend (floor) at specified point s of time in the future (independently) amounts specified in the contract at the interest rate set during the conclusion of the option. Contracts are net-settled (without fund location) at agreed time. Transactions of this type are valued using the Normal model (Bachelier model). The model is parameterized based upon market quotations of options as at standard quoted maturities.
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44 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Bank Pekao S.A. Interest rate futures transactions refer to standardized forward contracts purchased on the stock market. Futures contracts are measured based upon quotations available directly from stock exchanges. Commodity swap contracts are obligations to net settlement equivalent to the execution of a commodity buy or sell transaction at the settlement price according to determination rules set at the trade inception. Commodity instruments are valued with the discounted cash flows method, which includes commodity prices term structure. Asian commodity options are contracts with the right to buy or sell a certain amount of commodity on a expiry date at the specified price, where settlement price is based on an average level established on the basis of a series of commodity price observations in the period preceding the maturity date of the option. Commodity options are valued with the Black -Scholes model that includes moment matching of commodity price distribution for the arithmetic average. Derivative financial instruments embedded in other instruments The Group uses derivatives financial instruments embedded in complex financial instruments, i.e. such as including both a derivative and base agreement, which results in part of the cash flows of the combined instrument changing similarly to cash flows of an independent derivative. Derivatives embedded in other instruments cause part or all cash flows resulting from the base agreement to be modified as per a specific interest rate, price of a security, foreign exchange rate, price index or interest rate index. The Group has deposits and certificates of deposits on offer which include embedded derivatives. As the nature of such instrument is not strictly associated with the nature of the deposit agreement, the embedded instrument is separated and classified into the portfolio held -for-trading. The valuation of such instrument is recognized in the income statement. Embedded instruments include simple options (plain vanilla) and exotic options for single stocks, commodities, indices and other market indices, including interest rate indices, foreign exchange rates and their related baskets. All embedded options are immediately closed back-to-back on the interbank market. Currency options embedded in deposits are valued as other currency options. Exotic options embedded in deposits as well as their close positions are valued using the Monte -Carlo simulation technique assuming Geometric Brownian Motion model of risk factors. Model parameters are determined first of all on the basis of quoted options and futures contracts and in their absence based on statistical measures of the underlying instrument dynamic. Risk involved in financial derivatives Market risk and credit risk are the basic types of risk, associated with derivatives. At the beginning, financial derivatives usually have a small market value or no market value at all. It is a consequence of the fact that derivatives require no initial net investments, or require a very small net investment compared to other types of contracts, which display a similar reaction to changing market conditions. Derivatives gain positive or negative value as a result of change in specific interest rates, prices of securities, prices of commodities, currency exchange rates, price index, credit standing or credit index or another market parameter. In case of such changes, the derivatives held become more or less advantageous than instruments with the same residual maturities, available at that moment on the market. Credit risk related to derivative contracts is a potential cost of concluding a new contract on the original terms and conditions if the other party to the original contract fails to meet its obligations. In order to assess the potential cost of replaceme nt the Group uses the same method as for credit risk assessment. In order to control its credit risk levels the Bank performs assessments of other contract parties using the same methods as for credit decisions. The following tables present nominal amounts of financial derivatives and fair values of such derivatives. Nominal amounts of certain financial instruments are used for comparison with balance sheet instruments but need not necessarily indicate what the future cash flow amounts will be or what the current fair value of such instruments is and therefore do not reflect the Bank’s credit or price risk level.
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45 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Bank Pekao S.A. Financial data Fair value and nominal value of trading derivatives 31.12.2025 FAIR VALUE NOMINAL VALUE ASSETS LIABILITIES CONTRACTUAL MATURITY DATE TOTAL TO 1 MONTH FROM 1 TO 3 MONTHS FROM 3 MONTHS TO 1 YEAR FROM 1 YEAR TO 5 YEARS OVER 5 YEARS Interest rate transactions Interest Rate Swaps (IRS) 4 064 4 141 3 736 7 628 50 230 157 093 21 881 240 568 Forward Rate Agreements (FRA) 62 58 13 484 41 415 51 836 800 - 107 535 Options 17 21 100 103 2 162 8 787 172 11 324 Other - - 349 - - - - 349 Foreign currency Cross-Currency Interest Rate Swaps (CIRS) – currency bought 35 151 467 - 1 047 2 635 125 4 274 Cross-Currency Interest Rate Swaps (CIRS) – currency sold 453 - 1 106 2 701 128 4 388 Currency Forward Agreements – currency bought 161 129 3 903 2 624 4 789 1 453 21 12 790 Currency Forward Agreements – currency sold 3 908 2 613 4 727 1 517 23 12 788 Currency Swaps (FX-Swap) – currency bought 140 123 22 157 6 772 1 203 547 - 30 679 Currency Swaps (FX-Swap) – currency sold 22 136 6 756 1 182 588 - 30 662 Options bought 14 29 533 543 742 34 - 1 852 Options sold 548 564 773 36 - 1 921 Transactions based on equity securities and stock market indexes Options - - - - - - - - Other - - 6 - - - - 6 Transactions based on commodity and precious metals Options 9 9 - - 927 - - 927 Swaps 499 463 212 1 487 4 311 518 - 6 528 Total 5 001 5 124 71 992 70 505 125 035 176 709 22 350 466 591
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46 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Bank Pekao S.A. Fair value and nominal value of trading derivatives 31.12.2024 FAIR VALUE NOMINAL VALUE ASSETS LIABILITIES CONTRACTUAL MATURITY DATE TOTAL TO 1 MONTH FROM 1 TO 3 MONTHS FROM 3 MONTHS TO 1 YEAR FROM 1 YEAR TO 5 YEARS OVER 5 YEARS Interest rate transactions Interest Rate Swaps (IRS) 3 561 3 481 1 522 6 877 25 158 143 934 18 385 195 876 Forward Rate Agreements (FRA) 88 84 17 929 31 633 70 463 6 440 - 126 465 Options 27 26 14 10 376 4 188 255 4 843 Other - - 293 - - - - 293 Foreign currency Cross-Currency Interest Rate Swaps (CIRS) – currency bought 31 169 311 85 1 297 2 869 104 4 666 Cross-Currency Interest Rate Swaps (CIRS) – currency sold 316 87 1 305 2 973 109 4 790 Currency Forward Agreements – currency bought 54 159 3 643 2 271 3 247 1 356 - 10 517 Currency Forward Agreements – currency sold 3 664 2 305 3 301 1 351 - 10 621 Currency Swaps (FX-Swap) – currency bought 184 95 14 023 6 148 3 594 248 - 24 013 Currency Swaps (FX-Swap) – currency sold 13 975 6 127 3 527 243 - 23 872 Options bought 24 31 631 432 2 019 859 - 3 941 Options sold 644 439 2 077 874 - 4 034 Transactions based on equity securities and stock market indexes Options - - - - - - - - Other - - - - - - - - Transactions based on commodity and precious metals - Options 17 17 - - 850 - - 850 Swaps 236 204 865 865 2 793 1 437 - 5 960 Total 4 222 4 266 57 830 57 279 120 007 166 772 18 853 420 741 Derivative financial instruments are measured at fair value through profit or loss.
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47 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Bank Pekao S.A. 21. Hedge accounting Significant accounting policies Derivative hedging financial instruments are initially recorded at fair value as at the transaction date and subsequently re-measured at fair value at each balance sheet date. The fair value is established on the basis of market quotations for an instrument traded in an active market, as well as on the basis of valuation techniques, including models using discounted cash flows and options valuation models, depending on which valuation method is appropriate. Positive valuation of derivative hedging financial instruments is presented in the statement of financial position in the lin e ‘Hedging instruments’ on an asset side, whereas the negative valuation – ‘Hedging instruments’ on a liabilities side. The Group decided to take advantage of the choice which gives IFRS 9 and continues to apply the hedge accounting requirements of IAS 39, taking into account exceptions adopted by the European Commission. This decision will apply to all hedging relationships, for which the Group applies and will apply hedge accounting in the future. The Group implemented fair value hedge accounting as well as cash flow hedge accounting. 21.1. Fair value hedge accounting Fair value hedge accounting significant accounting principles In fair value hedge accounting, financial instruments measured at amortized cost or measured at fair value through other comprehensive income can be designated as hedged items. Changes in the fair value of these instruments are recognized – to the extent arising from the hedged risk – in the profit or loss account. In the remaining part, changes in the carrying amount are recognized in accordance with the principles applicable for the given class of financial instruments. From the moment a hedging relationship is established, changes in the fair value of derivative financial instruments designated as hedging instruments in fair value hedge accounting are recorded in profit or loss in line with the hedged items. In particula r, interest accrued on derivatives hedging interest rate risk hedged items is presented in interest income or expense. The remaining changes in the fair value of hedging instruments are presented in the same line in which changes in the value of the hedged item attributable to the hedged risk are presented, i.e., in the line ‘Result on fair value hedge accounting’. The Group ceases to apply hedge accounting, when the hedging instrument expires, is sold, dissolved or released (the replacement of one hedging instrument with another or extension of validity of given hedging instrument is not considered an expiration or release, providing such replacement or extension of validity is a part of a documented hedging strategy adopted by given unit), or does not meet the criteria of hedge accounting or the Group ceases the hedging relation. An adjustment for the hedged risk on hedged interest position is amorti sed in the income statement at the point of ceasing to apply hedge accounting. Characteristics of fair value hedge accounting The Group applies fair value hedge accounting for individual fixed coupon debt securities denominated in EUR, hedged with interest rate swap (IRS) transactions in the same currency (‘FVH IRS bonds’ relationship). The Group hedges component of interest rate risk related to the fair value changes of the hedged item resulting exclusively from the volatility of term rates. In the past, hedged risk component accounted for a significant portion of changes in fair value of the hedged item. In 2025, the Group established two new hedging relationships to hedge interest rate risk. In the first hedging relationship (‘FVH IRS accounts’),the hedged item is current accounts in PLN, EUR and USD modelled as insensitive to interest rate changes. In the second hedge (‘F VH IRS issues’), the hedged item is fixed-rate bonds issued by the Bank denominated in PLN and EUR. In both hedges, the hedging instruments are interest rate swaps (IRS). The approach of the Group to market risk management, including interest rate risk, and details regarding exposure of the Group to interest rate risk are disclosed in the Note 45.4. The use of derivative instruments to hedge the exposure to changes in interest rates generates counterparty credit risk of derivative transactions. The Group mitigates this risk by requiring the counterparties to post collateral deposits and by settling derivative transactions through Central Counterparty Clearing Houses (CCPs) which apply a number of mechanisms allowing systemic reduction of the risk of default on obligations under concluded transactions. The Group applies fair value hedge accounting to a hedging relationship if it is justified to expect that the hedge will be highly effective in achieving offsetting fair value changes attributable to the hedged risk in the future and if assessment of hedge effectiveness indicates high effectiveness in all financial reporting periods for which the hedge was designated.
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48 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Bank Pekao S.A. According to the approach of the Group, hedge ratio is determined as ratio of fair value of the hedged item to fair value of the hedging instrument. A hedging relationship is considered effective if all of the following criteria are met: • high effectiveness of the hedge can be expected on the basis of comparison of critical terms of the hedged item and the hedging instrument, • in each reporting period, efficiency hedge ratio is within 80% - 125% range or relation of inefficiency amount to nominal value of the hedged item is less or equal than the threshold specified in documentation of the hedging relationship, where inefficiency amount is calculated as the sum of cumulative fair value changes of the hedged item and the hedging instrument, • in each reporting period, simulation of hedge ratio in assumed evolution of market rates scenarios is within 80% - 125% range. As regards fair value hedge relationships, the main sources of ineffectiveness are: • impact of the counterparty credit risk and own credit risk of the Group on the fair value of the hedging transactions (IRS), which is not reflected in the fair value of the hedged item, • differences in maturities of the interest rate swaps and debt securities, • differences in coupon amounts generated by the hedged item and hedging instruments. Financial data for fair value hedge accounting The tables below present interest rate swaps which are used by the Group as instruments hedging interest rate risk in fair value hedge accounting as of 31 December 2025 and 31 December 2024. Nominal values and interest rates of hedging derivatives – fair value hedge by contractual maturity. 31.12.2025 CONTRACTUAL MATURITY TOTAL UP TO 1 MONTH BETWEEN 1 AND 3 MONTHS BETWEEN 3 MONTHS TO 1 YEAR BETWEEN 1 TO 5 YEARS OVER 5 YEARS HEDGING RELATIONSHIP CURRENCY FVH IRS bonds PLN Nominal value - - - - - - Average fixed interest rate (%) - - - - - - EUR Nominal value 359 - - 127 137 623 Average fixed interest rate (%) 2.1 - - 2.3 2.8 2.3 FVH IRS accounts PLN Nominal value - - - - 453 453 Average fixed interest rate (%) - - - - 4.1 4.1 EUR Nominal value - - 1 268 - - 1 268 Average fixed interest rate (%) - - 2 - - 2 USD Nominal value - - - 90 90 180 Average fixed interest rate (%) - - - 3.3 3.5 3.4 FVH IRS issues PLN Nominal value - - - - - - Average fixed interest rate (%) - - - - - - EUR Nominal value - - - - 2 114 2 114 Average fixed interest rate (%) - - - - 2.4 2.4 Total nominal value 359 - 1 268 217 2 794 4 638 31.12.2024 CONTRACTUAL MATURITY TOTAL UP TO 1 MONTH BETWEEN 1 AND 3 MONTHS BETWEEN 3 MONTHS TO 1 YEAR BETWEEN 1 TO 5 YEARS OVER 5 YEARS HEDGING RELATIONSHIP CURRENCY FVH IRS bonds PLN Nominal value - - - - - - Average fixed interest rate (%) - - - - - - EUR Nominal value - - - 491 139 630 Average fixed interest rate (%) - - - 3.5 4.4 3.7 Total nominal value - - - 491 139 630
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49 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Bank Pekao S.A. Impact of fair value hedge (interest rate risk hedging) on balance sheet and financial result 31.12.2025 FVH IRS BONDS FVH IRS ACCOUNTS FVH IRS ISSUES TOTAL HEDGING INSTRUMENTS Nominal value 623 1 901 2 114 4 638 Carrying amount – assets 22 6 - 28 Carrying amount – liabilities - 1 13 14 Balance sheet item in which hedging instrument is reported Hedging instruments Hedging instruments Hedging instruments Amount of changes in fair value of the hedging instrument in the reporting period used for estimating hedge inefficiency (2) 5 (14) (11) Amount of hedge ineffectiveness recognized in the income statement ‘Result on fair value hedge accounting’ - - (1) (1) HEDGED ITEM Carrying amount – assets 616 1 901 2 105 4 622 Accumulated amount of the adjustment to the fair value of the hedged item included in the carrying amount of the hedged item recognized in the balance sheet – assets (22) (5) 12 (15) Balance sheet item in which hedged item is reported Securities Amounts due to customers Subordinated liabilities Change in the value of hedged item used for estimating hedge inefficiency in the reporting period 2 (5) 13 10 Accumulated amount of the adjustment to the fair value of the hedged item remaining in the balance sheet for those hedged items for which adjustments of the balance sheet item for adjustment to fair value has been discontinued - - - - 31.12.2024 FVH IRS BONDS – IRS HEDGING DEBT SECURITIES MEASURED AT TOTAL AMORTISED COST FAIR VALUE THROUGHT OTHER COMPREHENSIVE INCOME HEDGING INSTRUMENTS Nominal value - 630 630 Carrying amount – assets - 29 29 Carrying amount – liabilities - - - Balance sheet item in which hedging instrument is reported Hedging instruments Hedging instruments Amount of changes in fair value of the hedging instrument in the reporting period used for estimating hedge inefficiency (1) (14) (15) Amount of hedge ineffectiveness recognized in the income statement ‘Result on fair value hedge accounting’ - 1 1 HEDGED ITEM Carrying amount – assets - 615 615 Accumulated amount of the adjustment to the fair value of the hedged item included in the carrying amount of the hedged item recognized in the balance sheet – assets - (24) (24) Balance sheet item in which hedged item is reported Securities Securities Change in the value of hedged item used for estimating hedge inefficiency in the reporting period 1 15 16 Accumulated amount of the adjustment to the fair value of the hedged item remaining in the balance sheet for those hedged items for which adjustments of the balance sheet item for adjustment to fair value has been discontinued - - - 21.2. Cash flow hedge accounting Cash flow hedge accounting significant accounting principles Changes in the fair value of the derivative financial instruments indicated as cash flow hedging instruments are recognized: • directly in the caption ‘Revaluation reserves’ in the part constituting the effective hedge, • in the income statement in the line ‘Result on financial assets and liabilities held for trading and foreign exchange result’ in the part representing ineffective hedge. The amounts accumulated in the ‘Revaluation reserves’ are transferred to the income statement in the period, in which the hedge is reflected in the income statement and are presented in the same lines as individual components of the hedged position measurement, i.e. the interest income from hedging derivatives in cash flow hedge accounting is recognized in the interest result, whereas gains/losses from foreign exchange revaluation are presented in the foreign exchange gains (losses).
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50 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Bank Pekao S.A. The Group ceases to apply hedge accounting when the hedging instrument expires or is sold, or if the Group revokes the designation, or when hedge no longer meets the criteria for hedge accounting. In such cases, the accumulated gains or losses related to s uch hedging item, initially recognized in ‘Revaluation reserves’, if the hedge was effective, are still presented in equity until the planned transaction was closed and recognized in the income statement. If the planned transaction is no longer probable, the cumulative gains or losses recognized in ‘Revaluation reserves’ are transferred to the income statement for the given period. Characteristics of cash flow hedge accounting The Group applies: • interest rate swaps (IRS) to hedge the exposure to interest rate risk related to the volatility of market reference rates (WIBOR, EURIOR), generated by portfolios of variable -rate loans denominated in PLN and EUR (‘CFH IRS loans’ relationship), • currency swaps (FX -Swap) to hedge the exposure to the currency risk, generated by both, portfolios of loans denominated in EUR and portfolios of current and term deposits denominated in USD (‘CFH currency swaps ’ relationship), • interest rate swaps (IRS) to hedge the exposure to interest rate risk related to the volatility of WIBOR market reference rates, generated by portfolio of deposits denominated in PLN, which economically constitute a long -term, variable-rate liability (‘CFH IRS deposits’ relationship). In 2025, the Group established a new hedge relationship to protect against currency risk generated by its own issues and its portfolio of term deposits denominated in EUR. The hedging instruments in this relationship are currency swaps and currency interest rate swaps (CIRS ). Economically, the new relationship is an extension of the existing relationship, which covers swaps closing the currency position. In quantitative disclosures, information on both relationships is presented together (under the name ‘CFH currency swaps’). Approach of the Group to market risk management, including interest rate risk and currency risk, and details regarding the Bank’s interest rate risk and currency risk exposure are disclosed in Note 45.4. As in the case of the fair value hedge, using derivative instruments to hedge the exposure to interest rate risk and currency risk generates counterparty credit risk of the derivative transactions, which is not compensated by the hedged item. The Group manages this risk in a way similar to fair value hedge. The Group applies cash flow hedge accounting to a hedging relationship if it is justified to expect that the hedge will be highly effective in achieving offsetting cash flow changes attributable to the hedged risk in the future and if assessment of hedge effectiveness indicates high effectiveness in all financial reporting periods for which the hedge was designated. The assessment is conducted using hypothetical derivative method. According to the approach of the Group, a hedging relationship is considered effective if all of the following criteria are met: • correlation coefficient between market reference rate of hedged items and market reference rate of hedging instrument is high, • forecasted interest flows generated by hedged items are not lower than forecasted interest flows generated by hedging instruments (in the case of hedging only currency risk, the forecasted nominal values are compared ), • in each reporting period, change in the ratio of the fair value of the hedged item to the change in fair value of the hedging instrument is within 80% - 125% range or relation of inefficiency amount to nominal value of the hedged item is less or equal to the threshold specified in documentation of the hedging relationship, where inefficiency amount is c alculated as the sum of cumulative fair value changes of the hedged item and the hedging instrument, • in each reporting period, simulation of hedge ratio in assumed evolution of market rates scenarios is within 80% - 125% range. In the case of hedging interest rate and currency risk of portfolios of loans and deposits, the manner of managing these portfolios was adopted allowing for regular inclusion of new transactions in the hedging relationship and exclusion of transactions from the hedging relationship as a result of repayment or classification to non-performing category. As a result, the exposure of these portfolios to interest rate and currency risk is constantly changing. Because of frequent changes to term structure of the portfolio, the Group dynamically assigns the hedged items and allows for matching of hedging instruments to these changes. As regards cash flow hedge relationships, the main sources of ineffectiveness are: • impact of counterparty and the Group’s own credit risk on the fair value of the hedging instruments, i.e. interest rate swap (IRS), cross-currency interest rate swap (basis swap), currency swap (FX swap) which is not reflected in the fair value of the hedged item, • differences in repricing frequency of the hedging instruments and hedged loans and deposits.
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51 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Bank Pekao S.A. Financial data for cash flow hedge accounting Nominal values and interest rates of hedging derivatives – cash flow hedge 31.12.2025 CONTRACTUAL MATURITY TOTAL UP TO 1 MONTH BETWEEN 1 AND 3 MONTHS BETWEEN 3 MONTHS TO 1 YEAR BETWEEN 1 TO 5 YEARS OVER 5 YEARS HEDGING RELATIONSHIP CURRENCY CHF IRS loans PLN Nominal value 1 515 629 6 299 14 147 8 329 30 919 Average fixed interest rate (%) 5.1 5.6 2.8 4 4.6 4 EUR Nominal value - - 2 113 1 268 1 014 4 395 Average fixed interest rate (%) - - 3.1 2.3 2.4 2.7 CFH IRS deposits PLN Nominal value - 220 35 8 380 302 8 937 Average fixed interest rate (%) - 4.7 4.2 4.5 4.7 4.5 EUR Nominal value - - - 634 - 634 Average fixed interest rate (%) - - - 2.1 - 2.1 CFH currency swaps EUR/PLN Nominal value - - 4 252 - - 4 252 Average EUR/PLN exchange rate - - 4.3 - - 4.3 USD/PLN Nominal value - - - - - - Average USD/PLN exchange rate - - - - - - EUR/USD Nominal value - 422 - - - 422 Average EUR/USD exchange rate - 1.2 - - - 1.2 Total nominal value 1 515 1 271 12 699 24 429 9 645 49 559 31.12.2024 CONTRACTUAL MATURITY TOTAL UP TO 1 MONTH BETWEEN 1 AND 3 MONTHS BETWEEN 3 MONTHS TO 1 YEAR BETWEEN 1 TO 5 YEARS OVER 5 YEARS HEDGING RELATIONSHIP CURRENCY CHF IRS loans PLN Nominal value 22 850 2 470 13 906 9 149 26 397 Average fixed interest rate (%) 0.5 2.1 1.9 3.2 4.6 3.5 EUR Nominal value - - - 3 418 - 3 418 Average fixed interest rate (%) - - - 2.8 - 2.8 CFH IRS deposits PLN Nominal value - - 28 5 577 100 5 705 Average fixed interest rate (%) - - 5.8 5.8 5.9 5.8 CFH currency swaps EUR/PLN Nominal value - - - - - - Average EUR/PLN exchange rate - - - - - - USD/PLN Nominal value - - - - - - Average USD/PLN exchange rate - - - - - - EUR/USD Nominal value - 431 - - - 431 Average EUR/USD exchange rate - 1.1 - - - 1.1 Total nominal value 22 1 281 2 498 22 901 9 249 35 951
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52 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Bank Pekao S.A. Impact of cash of hedge on balance sheet and financial result HEDGE IN RELATIONSHIP AS AT 31.12.2025 INTEREST RATE RISK INTEREST RATE RISK / CURRENCY RISK TOTAL CFH IRS LOANS CFH IRS DEPOSITS CFH CIRS CFH FX SWAP HEDGING INSTRUMENTS Nominal value 35 314 9 571 - 4 674 49 559 Carrying amount – assets 1 202 3 - - 1 205 Carrying amount – liabilities 339 318 - 10 667 Balance sheet item in which hedging instrument is reported Hedging instruments Hedging instruments Hedging instruments Hedging instruments Change in the fair value of the hedging instrument used for estimating hedge ineffectiveness 1 219 (222) - (2) 995 Gains or losses resulting from hedging, recognized in other comprehensive income (net) 980 (171) - (2) 807 Amount of hedge ineffectiveness recognized in the income statement in item ‘Result on financial assets and liabilities measured at fair value through profit or loss’ (2) - 11 - 9 HEDGED ITEM Amount of change in the fair value of a hypothetical derivative representing the hedged item used for estimating the hedge ineffectiveness in the reporting period (1 225) 222 - 2 (1 001) Revaluation reserve due to cash flow hedge accounting for relationships for which hedge accounting will be continued after the end of the reporting period (net) 407 (143) - (2) 262 Revaluation reserve due to cash flow hedge accounting for relationships for which hedge accounting is no longer applied (net) - - - - - HEDGE IN RELATIONSHIP AS AT 31.12.2024 INTEREST RATE RISK INTEREST RATE RISK / CURRENCY RISK TOTAL CFH IRS LOANS CFH IRS DEPOSITS CFH CIRS CFH FX SWAP HEDGING INSTRUMENTS Nominal value 29 815 5 705 - 431 35 951 Carrying amount – assets 374 42 - 3 419 Carrying amount – liabilities 1 003 70 - - 1 073 Balance sheet item in which hedging instrument is reported Hedging instruments Hedging instruments Hedging instruments Hedging instruments Change in the fair value of the hedging instrument used for estimating hedge ineffectiveness 36 54 - (82) 8 Gains or losses resulting from hedging, recognized in other comprehensive income (net) 25 44 - (6) 63 Amount of hedge ineffectiveness recognized in the income statement in item ‘Result on financial assets and liabilities measured at fair value through profit or loss’ 2 - 3 - 5 HEDGED ITEM Amount of change in the fair value of a hypothetical derivative representing the hedged item used for estimating the hedge ineffectiveness in the reporting period (30) (54) - 82 (2) Revaluation reserve due to cash flow hedge accounting for relationships for which hedge accounting will be continued after the end of the reporting period (net) (571) 28 - - (543) Revaluation reserve due to cash flow hedge accounting for relationships for which hedge accounting is no longer applied (net) - - (11) - (11)
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53 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Bank Pekao S.A. Changes in the revaluation reserve from the valuation of hedging derivatives in cash flow hedge accounting 2025 2024 Opening balance (554) (622) INTEREST RATE RISK Gains or losses resulting from hedging, recognized in other comprehensive income during the reporting period (net) 491 (502) The amount transferred from the other comprehensive income to the income statement during reporting period (net) 316 573 INTEREST RATE RISK/CURRENCY RISK Gains or losses resulting from hedging, recognized in other comprehensive income during the reporting period (net) 10 23 The amount transferred from the other comprehensive income to the income statement during reporting period (net) (1) (26) Closing balance 262 (554) 22. Loans and advances to customers (including receivables from finance leases) Significant accounting policies Loans and advances to customers include amounts due from loans and advances granted, finance lease and factoring receivables. Loans and advances to customers are classified in the individual measurement categories in accordance with the principles for selecting the business model and evaluating the characteristics of contractual cash flows referred to in the Note 4.4. Accounting policies used for finance lease receivables are described in Note 11 and 39. Financial data Loans and advances to customers by product type 31.12.2025 AMORTISED COST FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME FAIR VALUE THROUGH PROFIT OR LOSS RECEIVABLES FROM FINANCE LEASES TOTAL Mortgage loans (***) 82 084 - 3 - 82 087 Current accounts 16 847 - - - 16 847 Operating loans 14 366 111 - - 14 477 Investment loans 31 848 32 2 - 31 882 Cash loans 17 532 - - - 17 532 Payment cards receivables 1 358 - - - 1 358 Financial leasing - - - 12 921 12 921 Factoring 9 398 - - - 9 398 Other loans and advances 3 547 - 460 - 4 007 Reverse repo transactions 4 715 - - - 4 715 Gross carrying amount/Fair value (*) 181 695 143 465 12 921 195 224 Allowances for expected credit losses (**) (6 131) - - (225) (6 356) Carrying amount 175 564 143 465 12 696 188 868 (*) Fair value applies to loans and advances to customers measured at fair value through other comprehensive income and at fair value through profit or loss. (**) The allowances for expected credit losses and advances to customers measured at fair value through other comprehensive income in the amount of PLN 36 million is included in the ‘Revaluation reserve’ item and does not reduce the carrying amount of the loan. (***) In this the adjustment of the gross carrying amount regarding the legal risk of foreign currency mortgage loans in the amount of PLN 816 million described in the Note 45.3.
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54 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Bank Pekao S.A. Loans and advances to customers by product type 31.12.2024 AMORTISED COST FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME FAIR VALUE THROUGH PROFIT OR LOSS RECEIVABLES FROM FINANCE LEASES TOTAL Mortgage loans (***) 80 114 - 5 - 80 119 Current accounts 14 035 - - - 14 035 Operating loans 12 335 119 4 - 12 458 Investment loans 27 145 128 4 - 27 277 Cash loans 15 304 - - - 15 304 Payment cards receivables 1 276 - - - 1 276 Financial leasing - - - 11 902 11 902 Factoring 9 366 - - - 9 366 Other loans and advances 4 154 - 347 - 4 501 Reverse repo transactions 4 685 - - 4 685 Gross carrying amount/Fair value (*) 168 414 247 360 11 902 180 923 Allowances for expected credit losses (**) (5 603) - - (295) (5 898) Carrying amount 162 811 247 360 11 607 175 025 (*) Fair value applies to loans and advances to customers measured at fair value through other comprehensive income and at fair value through profit or loss. (**) The allowances for expected credit losses and advances to customers measured at fair value through other comprehensive income in the amount of PLN 3 million is included in the ‘Revaluation reserve’ item and does not reduce the carrying amount of the loan. (***) In this the adjustment of the gross carrying amount regarding the legal risk of foreign currency mortgage loans in the amount of PLN 1 193 million described in the Note 45.3. Loans and advances to customers by customer type 31.12.2025 AMORTISED COST FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME FAIR VALUE THROUGH PROFIT OR LOSS RECEIVABLES FROM FINANCE LEASES TOTAL Corporate 91 655 143 5 12 921 104 724 Individuals (***) 88 078 - 460 - 88 538 Budget entities 1 962 - - - 1 962 Gross carrying amount/Fair value (*) 181 695 143 465 12 921 195 224 Allowances for expected credit losses (**) (6 131) - - (225) (6 356) Carrying amount 175 564 143 465 12 696 188 868 (*) Fair value applies to loans and advances to customers measured at fair value through other comprehensive income and at fair value through profit or loss. (**) The allowances for expected credit losses and advances to customers measured at fair value through other comprehensive income in the amount of PLN 36 million is included in the ‘Revaluation reserve’ item and does not reduce the carrying amount of the loan. (***) In this the adjustment of the gross carrying amount regarding the legal risk of foreign currency mortgage loans in the amount of PLN 816 million described in the Note 45.3. 31.12.2024 AMORTISED COST FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME FAIR VALUE THROUGH PROFIT OR LOSS RECEIVABLES FROM FINANCE LEASES TOTAL Corporate 83 046 247 7 11 902 95 202 Individuals (***) 84 067 - 348 - 84 415 Budget entities 1 301 - 5 - 1 306 Gross carrying amount/Fair value (*) 168 414 247 360 11 902 180 923 Allowances for expected credit losses (**) (5 603) - - (295) (5 898) Carrying amount 162 811 247 360 11 607 175 025 (*) Fair value applies to loans and advances to customers measured at fair value through other comprehensive income and at fair value through profit or loss. (**) The allowances for expected credit losses and advances to customers measured at fair value through other comprehensive income in the amount of PLN 3 million is included in the ‘Revaluation reserve’ item and does not reduce the carrying amount of the loan. (***) In this the adjustment of the gross carrying amount regarding the legal risk of foreign currency mortgage loans in the amount of PLN 1 193 million described in the Note 45.3.
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55 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Bank Pekao S.A. Loans and advances to customers by contractual maturity 31.12.2025 AMORTISED COST FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME FAIR VALUE THROUGH PROFIT OR LOSS RECEIVABLES FROM FINANCE LEASES TOTAL Loans and advances to customers up to 1 month 29 069 6 1 447 29 523 between 1 and 3 months 7 300 46 2 695 8 043 between 3 months and 1 year 17 452 61 10 2 972 20 495 between 1 and 5 years 54 088 30 357 8 067 62 542 over 5 years 69 554 - 93 606 70 253 past due 4 232 - 2 134 4 368 Gross carrying amount/Fair value (*) 181 695 143 465 12 921 195 224 Allowances for expected credit losses (**) (6 131) - - (225) (6 356) Carrying amount 175 564 143 465 12 696 188 868 (*) Fair value applies to loans and advances to customers measured at fair value through other comprehensive income and at fair value through profit or loss. (**) The allowances for expected credit losses and advances to customers measured at fair value through other comprehensive income in the amount of PLN 36 million is included in the ‘Revaluation reserve’ item and does not reduce the carrying amount of the loan. Loans and advances to customers by contractual maturity 31.12.2024 AMORTISED COST FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME FAIR VALUE THROUGH PROFIT OR LOSS RECEIVABLES FROM FINANCE LEASES TOTAL Loans and advances to customers up to 1 month 27 802 7 (2) 92 27 899 between 1 and 3 months 6 818 (22) 4 621 7 421 between 3 months and 1 year 15 692 118 15 2 717 18 542 between 1 and 5 years 50 277 119 276 7 341 58 013 over 5 years 64 056 25 62 694 64 837 past due 3 769 - 5 437 4 211 Gross carrying amount/Fair value (*) 168 414 247 360 11 902 180 923 Allowances for expected credit losses (**) (5 603) - - (295) (5 898) Carrying amount 162 811 247 360 11 607 175 025 (*) Fair value applies to loans and advances to customers measured at fair value through other comprehensive income and at fair value through profit or loss. (**) The allowances for expected credit losses and advances to customers measured at fair value through other comprehensive income in the amount of PLN 3 million is included in the ‘Revaluation reserve’ item and does not reduce the carrying amount of the loan. The currency structure for the Loans and advances to customers item is presented in Note 4 5.4 in the section on currency risk. Receivables from finance leases As a lessor, the Group concludes contracts classified as finance leases, the main subject of which are means of transport, machinery and technical equipment. The main lessor in the Group is Pekao Leasing Sp. z o.o. In 2025, the Group recognized a gain on sale of the right -of-use assets in the amount of PLN 11 million (in 2024 a gain amounted to PLN 4 million), presented in ‘Other operating income’.
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56 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Bank Pekao S.A. The table below present the maturity analysis of lease receivables, presenting the undiscounted lease payments to be received after the balance sheet date. FINANCE LEASES UNDER IFRS 16 31.12.2025 31.12.2024 Up to 1 year 4 814 4 849 Between 1 and 2 years 3 743 3 437 Between 2 and 3 years 2 554 2 503 Between 3 and 4 years 1 629 1 426 Between 4 and 5 years 881 810 Over 5 years 645 352 Total undiscounted lease payments 14 266 13 377 Unearned interest income (1 345) (1 475) Net investment in the lease 12 921 11 902 Impairment allowances (225) (295) Carrying amount 12 696 11 607 23. Securities Significant accounting policies Securities are classified in the individual measurement categories in accordance with the principles for selecting the business model and evaluating the characteristics of contractual cash flows referred to in the Note 4.4. Financial data 31.12.2025 31.12.2024 Debt securities held for trading 2 447 1 064 Debt securities measured at amortised cost 104 126 115 584 Debt securities measured at fair value through other comprehensive income 27 426 12 991 Equity instruments held for trading 7 8 Equity instruments designated for measurement at fair value through other comprehensive income 463 326 Equity instruments measured at fair value through profit or loss 269 272 Carrying amount 134 738 130 245 Debt securities held for trading 31.12.2025 31.12.2024 Debt securities issued by central governments 2 075 911 T- bills 20 19 T- bonds 2 055 892 Debt securities issued by banks 323 129 Debt securities issued by business entities 49 24 Debt securities issued by local governments - - Carrying amount 2 447 1 064 Debt securities measured at amortised cost 31.12.2025 31.12.2024 Debt securities issued by State Treasury 66 715 56 333 T-bills 3 822 5 501 T-bonds 62 893 50 832 Debt securities issued by central banks 38 25 060 Debt securities issued by banks 24 510 21 729 Debt securities issued by business entities 7 612 7 519 Debt securities issued by local governments 5 369 5 061 Gross carrying amount 104 244 115 702 Allowances for expected credit losses (118) (118) Carrying amount 104 126 115 584
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57 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Bank Pekao S.A. Debt securities measured at fair value through other comprehensive income 31.12.2025 31.12.2024 Debt securities issued by State Treasury 10 628 7 052 T-bills 1 438 - T-bonds 9 190 7 052 Other - - Debt securities issued by central banks 11 994 1 000 Debt securities issued by banks 947 1 131 Debt securities issued by business entities 2 668 2 361 Debt securities issued by local governments 1 189 1 447 Carrying amount 27 426 12 991 including impairment of assets (*) (21) (16) (*) The impairment allowance for debt securities measured at fair value through other comprehensive income is included in the ‘Re valuation reserve’ item and does not reduce the carrying amount. Equity instruments designated at fair value through other comprehensive income 31.12.2025 31.12.2024 Shares 7 8 Carrying amount 7 8 Equity instruments designated for measurement at fair value through other comprehensive income . The portfolio of equity instruments designated for measurement at fair value through other comprehensive income includes the following investments. FAIR VALUE AS AT 31.12.2025 DIVIDENDS RECOGNIZED IN 2025 Entity X from construction sector - - Entity Y from construction sector 19 - Entity Z from construction sector 23 1 Entity providing credit information 368 28 Infrastructure entity of Polish banking sector 44 2 Intermediary in transactions among financial entities 9 - Carrying amount 463 31 FAIR VALUE AS AT 31.12.2024 DIVIDENDS RECOGNIZED IN 2024 Entity X from construction sector 4 - Entity Y from construction sector 5 - Entity Z from construction sector 19 - Entity providing credit information 263 27 Infrastructure entity of Polish banking sector 27 2 Intermediary in transactions among financial entities 8 - Carrying amount 326 29 Equity instruments measured at fair value through profit or loss 31.12.2025 31.12.2024 Shares 269 272 Carrying amount 269 272
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58 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Bank Pekao S.A. Debt securities according to contractual maturity 31.12.2025 31.12.2024 Debt securities: up to 1 month 13 234 27 811 between 1 and 3 months 4 494 4 341 between 3 months and 1 year 11 283 27 072 between 1 and 5 years 73 088 48 193 over 5 years 31 900 22 222 Carrying amount 133 999 129 639 The currency structure for the Securities item is presented in Note 45.4 in the section on currency risk. 24. Assets pledged as security for liabilities Significant accounting policies In the financial statement, the Group presents separately assets securing liabilities, where the recipient has the right to s ell these assets or exchange them for another security. Classification of assets to individual measurement categories is made in accordance with the principles of determining the business model and assessing the characteristics of the contractual cash flows, referred to in the Note 4.4. Financial data TYPE OF TRANSACTION AS AT 31.12.2025 SECURITY CARRYING VALUE OF ASSETS PLEDGED AS SECURITY FOR LIABILITIES NOMINAL VALUE OF ASSETS PLEDGED AS SECURITY FOR LIABILITIES VALUE OF LIABILITIES SUBJECT TO SECURITY Repo transactions Bonds measured at amortised cost 1 079 1 092 1 088 Repo transactions Bonds measured at fair value through other comprehensive income 1 1 1 Total 1 080 1 093 1 089 TYPE OF TRANSACTION AS AT 31.12.2024 SECURITY CARRYING VALUE OF ASSETS PLEDGED AS SECURITY FOR LIABILITIES NOMINAL VALUE OF ASSETS PLEDGED AS SECURITY FOR LIABILITIES VALUE OF LIABILITIES SUBJECT TO SECURITY Repo transactions Bonds held for trading (measured at fair value through profit or loss) 345 339 346 Repo transactions Bonds measured at fair value through other comprehensive income 1 000 1 033 1 000 Total 1 345 1 372 1 346 The collateral is established in line with the applicable money market standards for this type of transaction . Apart from assets pledged as security for liabilities presented separately in the financial statement, the Group also identifies liabilities do not meet the criterion of separate presentation in accordance with IFRS 9. TYPE OF TRANSACTION AS AT 31.12.2025 SECURITY CARRYING VALUE OF ASSETS PLEDGED AS SECURITY FOR LIABILITIES NOMINAL VALUE OF ASSETS PLEDGED AS SECURITY FOR LIABILITIES VALUE OF LIABILITIES SUBJECT TO SECURITY Coverage of payment commitments to the guarantee fund for the Bank Guarantee Fund Bonds 304 300 204 Coverage of payment commitments to the resolution fund for the Bank Guarantee Fund Bonds 645 656 524 Lombard and technical loan received from the National Bank of Poland Bonds 6 158 6 662 - Other loans Bonds 37 37 28 Debt securities issued Loans, bonds 1 850 1 843 1 475 Coverage of the Guarantee Fund for the Settlement of Stock Exchange Transactions to Central Securities Depository (KDPW) Cash deposits 44 44 - Uncommitted Collateralized Intraday Technical Overdraft Facility Agreement Bonds 27 30 -
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59 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Bank Pekao S.A. TYPE OF TRANSACTION AS AT 31.12.2024 SECURITY CARRYING VALUE OF ASSETS PLEDGED AS SECURITY FOR LIABILITIES NOMINAL VALUE OF ASSETS PLEDGED AS SECURITY FOR LIABILITIES VALUE OF LIABILITIES SUBJECT TO SECURITY Coverage of Fund for protection of guaranteed assets to the benefit of the Bank Guarantee Fund Bonds 722 710 - Coverage of payment commitments to the guarantee fund for the Bank Guarantee Fund Bonds 306 300 173 Coverage of payment commitments to the resolution fund for the Bank Guarantee Fund Bonds 635 655 440 Lombard and technical loan received from the National Bank of Poland Bonds 6 516 6 662 - Other loans Bonds 49 50 40 Debt securities issued Loans, bonds 1 758 1 764 1 446 Coverage of the Guarantee Fund for the Settlement of Stock Exchange Transactions to Central Securities Depository (KDPW) Cash deposits 44 44 - Uncommitted Collateralized Intraday Technical Overdraft Facility Agreement Bonds 28 30 - The establishment of securities is a consequence of: • in the case of items relating to Bank Guarantee Fund – binding provisions of the Law on Banking Guaranty Fund BFG, • in the case of item relating to ‘Lombard and technical loan’ – policy and standards, applied by the National Bank of Poland NBP, • in case of issue of debt securities – binding provisions of the Law on Mortgage Bonds and Mortgage Banks, • in case of items relating to ‘Other loans’ and ‘Derivatives’ – terms and conditions of the agreement, entered between the Bank and its clients, • in case of item relating to Central Securities Depository KDPW – with the status of the clearing member for brokerage transactions. 25. Assets held for sale Significant accounting policies Non-current assets held for sale and discontinued operations Non-current assets held for sale include assets, the carrying amount of which is to be recovered by way of resale and not from their continued use. The only assets classified as held for sale are those available for immediate sale in their present condition, and the sale of which is highly probable, i.e. when the decision has been made to sell a given asset, an active program to identify a buyer has been launched and the divestment plan is completed. Moreover, such assets are offered for sale at a price whi ch approximates its present fair value, and it is expected that the sale will be recognized as completed within one year from the date of such asset is reclassified into this category. Non-current assets held for sale are recognized at the carrying amount or at fair value reduced by the cost of such assets, whichever is lower. Assets classified in this category are not subject to depreciation. As at 31 December 202 5 and 31 December 202 4 non-current assets classified as held for sale are identified non-current assets meeting requirements of IFRS 5 ‘Non-current Assets Held for Sale and Discontinued Operations’: • real estate, • other property, plant and equipment. Financial data 31.12.2025 31.12.2024 ASSETS HELD FOR SALE Property, plant and equipment 21 24 Total 21 24
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60 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Bank Pekao S.A. The changes in the balance of assets held for sale 2025 2024 ASSETS HELD FOR SALE Opening balance 24 32 Increases 87 27 transfer from property, plant and equipment 63 27 acquisition of transport vehicles for resale 24 - Decreases (90) (35) transfer to property, plant and equipment (8) (2) disposal (82) (33) Closing balance 21 24 The effect of disposal of assets held for sale 2025 2024 Sales revenues 195 137 Net carrying amount of disposed assets (including sale costs) (82) (33) Profit/loss on sale before income tax 113 104 26. Investments in associates Significant accounting policies The accounting policies are described in Note 4.2. Financial data The table below contains information about the associate that is significant to the Group NAME OF ENTITY LOCATION PERCENTAGE OF THE GROUP’S OWNERSHIP RIGHTS IN SHARE CAPITAL/VOTING METHOD VALUATIONS TYPE OF ASSOCIATION 31.12.2025 31.12.2024 Krajowy Integrator Płatności S.A. Poland 38.33 38.33 Equity method A company providing services as a domestic payment institution, operator of the Tpay.com system PZU Fundusz Inwestycyjny Zamknięty Private Debt Poland 38.72 - Equity method An investment fund issuing investment certificates, The fund conducts investment activities primarily by acquiring bonds, granting loans and acquiring receivables arising from financing agreements, with the exception of receivables from individuals. Condensed financial information of the associates KRAJOWY INTEGRATOR PŁATNOŚCI S.A. PZU FUNDUSZ INWESTYCYJNY ZAMKNIĘTY PRIVATE DEBT 31.12.2025 31.12.2024 31.12.2025 31.12.2024 Assets 98 92 2 - Property, plant and equipment 21 56 258 - Total assets 119 148 260 - Short term liabilities 74 84 1 - Long term liabilities 1 1 - - Total liabilities 75 85 1 - Net assets 44 63 259 -
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61 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Bank Pekao S.A. Condensed financial information of the associates. KRAJOWY INTEGRATOR PŁATNOŚCI S.A. PZU FUNDUSZ INWESTYCYJNY ZAMKNIĘTY PRIVATE DEBT 31.12.2025 31.12.2024 31.12.2025 31.12.2024 Income 102 83 2 - Net profit (loss) from continuing operations (12) 18 1 - Other comprehensive income - - - - Total comprehensive income (12) 18 1 - Reconciliation of condensed financial information to the carrying amount of shares in the associate s KRAJOWY INTEGRATOR PŁATNOŚCI S.A. PZU FUNDUSZ INWESTYCYJNY ZAMKNIĘTY PRIVATE DEBT 31.12.2025 31.12.2024 31.12.2025 31.12.2024 Group's share in net assets at the beginning of the period 59 53 - - Initial valuation - - 100 - Group's share in the net profit (loss) for the period (6) 7 1 - Group's share of other comprehensive income - - - - Dividends received from an associate (2) (1) - - Group's share of net assets at the end of the period 51 59 101 - Shares carrying amount 51 59 101 - 27. Intangible assets Significant accounting policies Goodwill Goodwill is defined as a surplus of the purchasing price over the fair value of acquired assets, assumed liabilities and contingent liabilities of the acquired subsidiary or associate. Goodwill at initial recognition is carried at purchase price reduced by any accumulated impairment losses. Impairment is determined by estimating the recoverable value of the cash generating unit, to which given goodwill pertains. If the recoverable value of the cash generating unit is lower than the carrying amount an impairment charge is made. Impairment identified in the course of such tests is not reversed. Goodwill on acquisition of associate is presented in intangible assets and goodwill on acquisition of associates is presented under the caption ‘Investments in associates’. Other intangible assets Intangible assets are assets controlled by the Group which do not have a physical form which are identifiable and represent future economic benefits for the Group directly attributable to such assets. These assets include: • computer software licenses, • copyrights, • costs of completed development works. Intangible assets are initially carried at purchase price. Subsequently intangible assets are stated at cost less accumulated amortization and accumulated impairment losses. Intangible assets with a definite useful life are amorti sed over their estimated useful life. Intangible assets with indefinite useful life are not amortised. All intangible assets are reviewed on a periodical basis to verify if any significant impairment triggers occurred, which would require performing a test for impairment and a potential impairment charge. As far as intangible assets with indefinite useful life and those still not put into service are concerned, impairment test i s performed on a yearly basis and additionally when impairment triggers are identified.
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62 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Bank Pekao S.A. Financial data 31.12.2025 31.12.2024 Intangible assets 1 811 1 799 research and development expenditures 478 454 licenses and patents 634 770 other 88 97 assets under construction 611 478 Goodwill 749 749 Total 2 560 2 548 The item ‘Goodwill’ contains: • goodwill recognized upon acquisition of Pekao Investment Management S.A. and indirectly Pekao TFI S.A. by Bank Pekao S.A. It is determined the smallest identifiable cash-generating units (‘CGU’) relating mainly to the Bank’s ‘Retail banking’, to which the goodwill has been allocated in the amount of PLN 692 million, • goodwill that was transferred to Bank Pekao S.A. on integration with Bank BPH S.A. It represents the goodwill recognized upon acquisition of Pierwszy Komercyjny Bank S.A. in Lublin (‘PKBL’) by Bank BPH S.A. and relates to those branches of the PKBL which were transferred to Bank Pekao S.A. as a result of integration with Bank BPH S. A. It is determined the smallest identifiable cash -generating units (‘CGU’) relating to the Bank’s retail segment , to which the goodwill has been allocated in the amount of PLN 52 million, • gooodwill recognized upon acquisition of Pekao Leasing i Finanse S.A. (formerly BPH Leasing S.A.) by Pekao Leasing Holding S.A. (formerly BPH PBK Leasing S.A.). It is determined the smallest identifiable cash -generating units (‘CGU’) relating to the Bank’s leasing business segment, to which the goodwill has been allocated in the amount of PLN 3 million, • goodwill recognized upon acquisition of Spółdzielcza Kasa Oszczędnościowo – Kredytowa im. Mikołaja Kopernika by Bank Pekao S.A. It is determined the smallest identifiable cash -generating units (‘CGU’) relating to the Bank’s retail segment, to which the goodwill has been allocated in the amount of PLN 1 million, • goodwill resulting from the acquisition of Idea Bank S.A. by Bank Pekao S.A. The smallest identifiable cash -generating units relating to the Bank’s retail segment were determined, to which goodwill was assigned in the amount of PLN 1 million. In respect to the goodwill, the impairment tests are performed annually, irrespective of whether there is any indication that it may be impaired. The impairment tests are performed by comparing the carrying amount of the CGU, including the goodwill, with the recoverable amount of the CGU. The recoverable amount is estimated on the basis of value in use of the CGU. The value in use is the present, estimated value of the future cash flows for the period of 5 years, taking into account the residual value of the CGU. The residual value of the CGU is calculated based on an extrapolation of cash flows projections beyond the forecast period using the growth rate presented in the table below. The forecasts of the future cash flows are based on the assumptions included the budget for 202 6 and financial plan for 202 7-2030. To discount the future cash flows, it is applied the discount rates, which includes the risk-free rate and the risk premium. The growth rates and discount rates used in the impairment tests for goodwill are as follows. 31.12.2025 31.12.2024 GROWTH RATE DISCOUNT RATE GROWTH RATE DISCOUNT RATE Pekao Investment Management S.A. (including Pekao TFI S.A.) 2.5% 10.45% 2.7% 11.46% PKBL 2.5% 11.01% 2.7% 11.75% The impairment tests performed as at 31 December 2025 and as at 31 December 2024 showed the surplus of the recoverable amount over the carrying amount of the CGU, and therefore no CGU impairments were recognized. Sensitivity analysis Estimating the recoverable amount is a complex process and requires the use of subjective assumptions. Relatively small changes in key assumptions may have a significant effect on the measurement of the recoverable amount. The table below presents the surplus of recoverable amounts over the carrying amounts under the current assumptions and the maximum discount rates at which the carrying amounts and recoverable amounts of each CGU are equalized. 31.12.2025 31.12.2024 SURPLUS MARGINAL VALUE OF DISCOUNT RATE SURPLUS MARGINAL VALUE OF DISCOUNT RATE Pekao Investment Management S.A. (including Pekao TFI S.A.) 2 466 33.68% 1 012 22.65% PKBL 241 33.59% 26 13.89%
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63 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Bank Pekao S.A. Changes in ‘Intangibles assets’ in the course of the reporting period 2025 RESEARCH AND DEVELOPMENT COSTS LICENSES AND PATENTS OTHER ASSETS UNDER CONSTRUCTION GOODWILL TOTAL GROSS VALUE Opening balance 641 4 280 215 478 749 6 363 Increases 152 125 1 463 - 741 acquisitions - 6 - 354 - 360 transfer from investments outlays 152 118 1 - - 271 the work carried out on their own - 1 - 108 - 109 other - - - 1 - 1 Decreases - (4) - (330) - (334) liquidation and sale - (1) - (26) - (27) transfer from investments outlays - - - (271) - (271) other - (3) - (33) - (36) Closing balance 793 4 401 216 611 749 6 770 ACCUMULATED AMORTIZATION Opening balance 175 3 507 118 - - 3 800 Amortization 128 262 10 - - 400 Liquidation and sale - (4) - - - (4) Other - (1) - - - (1) Closing balance 303 3 764 128 - - 4 195 IMPAIRMENT Opening balance 12 3 - - - 15 Increases - - - - - - Decreases - - - - - - Closing balance 12 3 - - - 15 NET VALUE Opening balance 454 770 97 478 749 2 548 Closing balance 478 634 88 611 749 2 560
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64 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Bank Pekao S.A. Changes in ‘Intangibles assets’ in the course of the reporting period 2024 RESEARCH AND DEVELOPMENT COSTS LICENSES AND PATENTS OTHER ASSETS UNDER CONSTRUCTION GOODWILL TOTAL GROSS VALUE Opening balance 307 3 964 212 626 749 5 858 Increases 334 321 3 502 - 1 160 acquisitions - 11 - 390 - 401 transfer from investments outlays 331 310 3 - - 644 the work carried out on their own - - - 112 - 112 other 3 - - - - 3 Decreases - (5) - (650) - (655) liquidation and sale - (5) - - - (5) transfer from investments outlays - - - (644) - (644) other - - - (6) - (6) Closing balance 641 4 280 215 478 749 6 363 ACCUMULATED AMORTIZATION Opening balance 94 3 247 106 - - 3 447 Amortization 81 266 13 - - 360 Liquidation and sale - (6) (1) - - (7) Other - - - - - - Closing balance 175 3 507 118 - - 3 800 IMPAIRMENT Opening balance 12 3 - - - 15 Increases - - - - - - Decreases - - - - - - Closing balance 12 3 - - - 15 NET VALUE Opening balance 201 714 106 626 749 2 396 Closing balance 454 770 97 478 749 2 548 In the period from 1 January to 31 December 202 5 the Group acquired intangible assets in the amount of PLN 360 million (in 2024 – PLN 401 million). In the period from 1 January to 31 December 2025 and in 2024 there have been no intangible assets whose title is restricted and pledged as security for liabilities. Contractual commitments As at 31 December 202 5 the contractual commitments for the acquisition of intangible assets amounted to PLN 77 million (as at 31 December 2024 - PLN 127 million). 28. Property, plant and equipment Significant accounting policies Property, plant and equipment are defined as controlled non -current assets and assets under construction. Non -current assets include certain tangible assets with an expected useful life longer than one year, which are maintained for the purpose of own use or to be leased to other entities. Property, plant and equipment are recognized at historical cost less accumulated depreciation and accumulated impairment write downs. Historical cost consists of purchase price or development cost and costs directly related to the purchase of a given asset. Each component of property, plant and equipment, the purchase price or production cost of which is significant compared to the purchase price or production cost of the entire item is a subject to separate depreciation. The Group separates the initial value of property, plant and equipment into its significant parts. Subsequent expenditures relating to property plant and equipment are capitalized only when it is probable that such expenditures will result in future economic benefits to the Group, and the cost of such expenses can be reliably measured. Service and maintenance costs of property, plant and equipment are expensed in the reporting period in which they have been incurred.
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65 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Bank Pekao S.A. Financial data 31.12.2025 31.12.2024 Non-current assets 1 838 1 807 land and buildings 1 071 1 168 machinery and equipment 405 379 transport vehicles 193 112 other 169 148 Non-current assets under construction 386 218 Total 2 224 2 025 Changes in ‘Property, plant and equipment’ in the course of the reporting period 2025 LANDS AND BUILDINGS MACHINERY AND EQUIPMENT MEANS OF TRANSPORTATION OTHER NON-CURRENT ASSETS UNDER CONSTRUCTION TOTAL GROSS VALUE Opening balance 2 943 1 650 166 503 218 5 480 Increases 138 202 148 56 362 904 acquisitions 53 15 146 1 361 576 transfer from non-current assets under construction 9 140 - 44 - 193 other 76 47 2 11 1 135 Decreases (344) (240) (80) (21) (194) (879) liquidation and sale (65) (240) (79) (21) - (405) transfer to non-current assets held for sale (206) - - - - (206) transfer from non-current assets under construction - - - - (193) (193) other (73) - (1) - (1) (75) Closing balance 2 737 1 612 232 538 386 5 505 ACCUMULATED DEPRECIATION Opening balance 1 703 1 265 54 355 - 3 377 Increases 178 155 22 35 - 390 depreciation 167 122 17 33 - 339 other 11 33 5 2 - 51 Decreases (282) (219) (37) (21) - (559) liquidation and sale (40) (218) (35) (21) - (314) transfer to non-current assets held for sale (143) - - - - (143) other (99) (1) (2) - - (102) Closing balance 1 599 1 201 39 369 - 3 208 IMPAIRMENT Opening balance 72 6 - - - 78 Increases 1 - - - - 1 Decreases (6) - - - - (6) Closing balance 67 6 - - - 73 NET VALUE Opening balance 1 168 379 112 148 218 2 025 Closing balance 1 071 405 193 169 386 2 224
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66 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Bank Pekao S.A. Changes in ‘Property, plant and equipment’ in the course of the reporting period 2024 LANDS AND BUILDINGS MACHINERY AND EQUIPMENT MEANS OF TRANSPORTATION OTHER NON-CURRENT ASSETS UNDER CONSTRUCTION TOTAL GROSS VALUE Opening balance 2 870 1 670 153 498 169 5 360 Increases 224 126 35 51 251 687 acquisitions 130 39 33 1 251 454 transfer from non-current assets under construction 63 85 1 50 - 199 other 31 2 1 - - 34 Decreases (151) (146) (22) (46) (202) (567) liquidation and sale (60) (146) (22) (46) - (274) transfer to non-current assets held for sale (77) - - - - (77) transfer from non-current assets under construction - - - - (199) (199) other (14) - - - (3) (17) Closing balance 2 943 1 650 166 503 218 5 480 ACCUMULATED DEPRECIATION Opening balance 1 644 1 281 47 372 - 3 344 Increases 176 124 19 28 - 347 depreciation 175 124 15 28 - 342 other 1 - 4 - - 5 Decreases (117) (140) (12) (45) - (314) liquidation and sale (40) (140) (12) (45) - (237) transfer to non-current assets held for sale (49) - - - - (49) other (28) - - - - (28) Closing balance 1 703 1 265 54 355 - 3 377 IMPAIRMENT Opening balance 64 6 - - - 70 Increases 11 - - - - 11 Decreases (3) - - - - (3) Closing balance 72 6 - - - 78 NET VALUE Opening balance 1 162 383 106 126 169 1 946 Closing balance 1 168 379 112 148 218 2 025 In the period from 1 January to 31 December 2025 the Group acquired ‘Property, plant and equipment’ amounted PLN 576 million (in 2024 - PLN 454 million), while the net carring amount of property, plant and equipment sold amounted to PLN 252 million (in 2024 - PLN 179 million). The amount of compensations received from third parties for impairment of loss of property, plant and equipment items recognized in the income statement for 2025 stood at PLN 2 million (in 2024 - PLN 2 million). In the period from 1 January to 31 December 2025 and in 2024 there have been no property, plant and equipment whose title is restricted and pledged as security for liabilities. Contractual commitments As at 31 December 2025 the contractual commitments for the acquisition of property , plant and equipment amounted to PLN 44 million, (as at 31 December 2024 - PLN 31 million).
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67 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Bank Pekao S.A. 29. Other assets Significant accounting policies Financial assets included in item ‘Other assets’ are measured at the amounts due, which also comprises any potential interest on such assets, taking into consideration provisions for expected credit losses. Non -financial assets are measured in accordance with the valuation principles applicable to specific categories of assets recognized in this item. Prepaid expenses represent expenditures, which will be amorti sed against income statement in the forthcoming reporting periods. Financial data 31.12.2025 31.12.2024 Other financial assets 2 131 2 266 Income to be received 430 323 Interbank and interbranch settlements - 5 Receivable from other debtors 519 708 Card settlements 1 182 1 230 Other non-financial assets 281 251 Cost to be settlement over time 256 206 Other non-financial assets 25 45 Total 2 412 2 517 30. Amounts due to other banks Significant accounting policies Principles of classification and measurement are described in the Note 4.4. Financial data Amounts due to other banks by product type 31.12.2025 31.12.2024 Current accounts 893 608 Interbank deposits and other liabilities 863 1 008 Loans and advances received 3 992 5 382 Repo transactions - 346 Total 5 748 7 344 The currency structure for the Amounts due to other banks item is presented in Note 4 5.4 in the section on currency risk. 31. Financial liabilities held for trading Significant accounting policies Principles of classification and measurement are described in the Note 4.4. Financial data 31.12.2025 31.12.2024 Debt securities (‘short sale’) 891 1 399 Total 891 1 399 Financial liabilities held for trading by issuer and product type 31.12.2025 31.12.2024 Debt securities issued by central governments 891 1 399 t-bonds 891 1 399 Total 891 1 399 The currency structure for the Financial liabilities held for trading item is presented in Note 4 5.4 in the section on currency risk.
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68 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Bank Pekao S.A. 32. Amounts due to customers Significant accounting policies Principles of classification and measurement are described in the Note 4.4. Financial data Amounts due to customers by entity and product type 31.12.2025 31.12.2024 Amounts due to corporate 91 512 89 197 current accounts 68 051 62 858 term deposits and other liabilities 23 461 26 339 Amounts due to budget entities 21 853 20 128 current accounts 20 007 18 214 term deposits and other liabilities 1 846 1 914 Amounts due to individuals 155 098 149 710 current accounts 115 159 105 855 term deposits and other liabilities 39 939 43 855 Repo transactions 1 089 1 000 Total 269 552 260 035 The currency structure for the Amounts due to customers item is presented in Note 45.4 in the section on currency risk. 33. Debt securities issued Significant accounting policies Principles of classification and measurement are described in the Note 4.4. Financial data Debt securities issued by type 31.12.2025 31.12.2024 Liabilities from bonds 18 790 14 721 Mortgage bonds 1 475 1 446 Total 20 265 16 167 The Group redeems its own debt securities issued on a timely basis. The currency structure for the Debt securities issued item is presented in Note 4 5.4 in the section on currency risk.
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69 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Bank Pekao S.A. 34. Subordinated liabilities Significant accounting policies Principles of classification and measurement are described in the Note 4.4. Financial data On 30 October 2017, the Bank issued 10 years subordinated bonds with a total nominal value of PLN 1.25 billion. The funds from the issue were designated – after receiving the approval of the Polish Financial Supervision Authority on 21 December 2017 – to increase the Bank's supplementary capital, pursuant to art. 127 para. 2 point 2 of the Banking Law and art. 63 of Regulation No. 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms. The bonds were introduced to trading on the ASO Catalyst market. On 15 October 2018, the Bank issued 10 years subordinated bonds with a total nominal value of PLN 0.55 billion. The funds from the issue were designated – after receiving the approval of the Polish Financial Supervision Authority on 16 November 2018 – to increase the Bank's supplementary capital, pursuant to art. 127 para. 2 point 2 of the Banking Law and art. 63 of Regulation No. 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms. The bonds were introduced to trading on the ASO Catalyst market. On 15 October 2018, the Bank issued 15 years subordinated bonds with a total nominal value of PLN 0.20 billion. The funds from the issue were designated – after receiving the approval of the Polish Financial Supervision Authority on 18 October 2018 – to increase the Bank's supplementary capital, pursuant to art. 127 para. 2 point 2 of the Banking Law and art. 63 of Regulation No. 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms. The bonds were introduced to trading on the ASO Catalyst market. On 4 June 2019, the Bank issued 12 years subordinated bonds with a total nominal value of PLN 0.35 billion. The funds from the issue were designated – after receiving the approval of the Polish Financial Supervision Authority on 8 July 2019 – to increase the Bank's supplementary capital, pursuant to art. 127 para. 2 point 2 of the Banking Law and art. 63 of Regulation No. 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms. The bonds were introduced to trading on the ASO Catalyst market. On 4 December 2019, the Bank issued 12 years subordinated bonds with a total nominal value of PLN 0.40 billion. The funds from the issue were designated – after receiving the approval of the Polish Financial Supervision Authority on 10 December 2019 – to increase the Bank's supplementary capital, pursuant to art. 127 para. 2 point 2 of the Banking Law and art. 63 of Regulation No. 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms. The bonds were introduced to trading on the ASO Catalyst market. On 4 April 2025, the Bank issued 10 years subordinated bonds with a total nominal value of PLN 0.75 billion. The funds from the issue were designated – after receiving the approval of the Polish Financial Supervision Authority on 23 April 2025 – to increase the Bank's supplementary capital, pursuant to art. 127 para. 2 point 2 of the Banking Law and art. 63 of Regulation No. 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms. The bonds were introduced to trading on the ASO Catalyst market. On 27 November 2025, the Bank issued subordinated bonds with a total nominal value of EUR 0.50 billion (equivalent to PLN 2.11 billion at the average NBP exchange rate on the issue date) with a maturity of 10 years and 3 months. The funds from the issue wi ll be designated – after receiving the approval of the Polish Financial Supervision Authority – to increase the Bank's supplementary capital, pursuant to art. 127 para. 2 point 2 of the Banking Law and art. 63 of Regulation No. 575/2013 of the European Par liament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms. The bonds were introduced to trading on regulated market of the Luxembourg Stock Exchange.
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70 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Bank Pekao S.A. Subordinated liabilities by type TYPE OF TRANSACTION NOMINAL AMOUNT CURRENCY INTEREST RATE ISSUE DATE MATURITY DATE SPECIAL TERMS BALANCE SHEET VALUE AS AT 31.12.2025 BALANCE SHEET VALUE AS AT 31.12.2024 Subordinated bonds 1 250 PLN variable, WIBOR 6M + margin 30.10.2017 29.10.2027 Call option giving the Bank the right of early redemption within 5 years from the issue date, subject to the approval of the PFSA 1 262 1 267 Subordinated bonds 550 PLN variable, WIBOR 6M + margin 15.10.2018 16.10.2028 Call option giving the Bank the right of early redemption within 5 years from the issue date, subject to the approval of the PFSA 557 559 Subordinated bonds 200 PLN variable, WIBOR 6M + margin 15.10.2018 14.10.2033 Call option giving the Bank the right of early redemption within 10 years from the issue date, subject to the approval of the PFSA 203 203 Subordinated bonds 350 PLN variable, WIBOR 6M + margin 04.06.2019 04.06.2031 Call option giving the Bank the right of early redemption within 7 years from the issue date, subject to the approval of the PFSA 352 351 Subordinated bonds 400 PLN variable, WIBOR 6M + margin 04.12.2019 04.06.2031 Call option giving the Bank the right of early redemption within 6.5 years from the issue date, subject to the approval of the PFSA 402 402 Subordinated bonds 750 PLN variable, WIBOR 6M + margin 04.04.2025 04.04.2035 Call option giving the Bank the right of early redemption within 5 years from the issue date, subject to the approval of the PFSA 761 - Subordinated bonds 500 EUR fixed, 4.0101%, to the 27.02.2031 variable, EURIBOR 3M + margin, in the remaining period 27.11.2025 27.02.2036 Call option giving the Bank the right of early redemption from the 27 February 2031, subject to the approval of the PFSA 2 105 - Total 5 642 2 782 The currency structure for the Subordinated liabilities item is presented in the 45.4 in the section on currency risk. 35. Provisions Significant accounting policies The provisions are recognized when the Group has a present obligation (legal or constructive) resulting from the past events, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. If the effect of the time value of money is material, the amount of a provision is established by discounting forecasted futu re cash flows to the present value, using the discount rate reflecting current market estimates of the time value of money and the possible risk associated with the obligation. This item includes provisions for litigation and claims (including the provision for legal risk regarding foreign currency mortgage loans), provisions for off -balance sheet commitments and guarantees given, provisions for defined benefit plans and other provisions. The principles for recognizing provisions for off-balance sheet commitments and guarantees given are described in Note 11.
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71 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Bank Pekao S.A. The provisions are charged to the income statement, except for actuarial gains and losses from the measurement of the defined benefit plans obligations, which are recognized in other comprehensive income. Financial data Changes in provisions in the reporting period 2025 PROVISIONS FOR LITIGATION AND CLAIMS (*) PROVISONS FOR DEFINED BENEFIT PLANS PROVISIONS FOR OFF- BALANCE SHEET COMMITMENTS AND GUARANTEES GIVEN OTHER PROVISIONS (**) TOTAL Opening balance 1 461 314 477 58 2 310 Provision charges/revaluation 893 37 332 16 1 278 Provision utilization (424) (31) - (13) (468) Provision releases (2) - (455) (24) (481) Foreign currency exchange differences - - (4) - (4) Other changes - (1) - - (1) Closing balance 1 928 319 350 37 2 634 Short term - 44 32 10 86 Long term 1 928 275 318 27 2 548 (*) Including the provision for legal risk regarding foreign currency mortgage loans in CHF in the amount of PLN 1 564 million (details of this provision are presented in Note 45.3). (**) Including provisions for refunds to customers of increased mortgage loan margins before establishing a mortgage in the amount of PLN 27 million as at 31 December 2025. 2024 PROVISIONS FOR LITIGATION AND CLAIMS (*) PROVISONS FOR DEFINED BENEFIT PLANS PROVISIONS FOR OFF- BALANCE SHEET COMMITMENTS AND GUARANTEES GIVEN OTHER PROVISIONS (**) TOTAL Opening balance 970 293 504 189 1 956 Provision charges/revaluation 750 33 346 63 1 192 Provision utilization (254) (13) - (69) (336) Provision releases (6) - (368) (37) (411) Foreign currency exchange differences 1 - (5) - (4) Other changes - 1 - (88) (87) Closing balance 1 461 314 477 58 2 310 Short term - 50 76 4 130 Long term 1 461 264 401 54 2 180 (*) Including the provision for legal risk regarding foreign currency mortgage loans in CHF in the amount of PLN 1 308 million (details of this provision are presented in Note 45.3). (**) Including provisions for refunds to customers of increased mortgage loan margins before establishing a mortgage in the amount of PLN 52 million as at 31 December 2024. Provisions for litigation and claims Provisions for litigation and claims include court, administrative and other legal proceedings.Provisions for litigation and claims were estimated in the amount of expected outflow of resources embodying economic benefits. Provisions for litigation and claims include, among others, provisions for legal risks related to mortgage loans in CHF (details are presented in Note 45.3) and provisions for proceedings by the UOKiK (details are presented in Note 40). Provisions for defined benefits plans Provisions for defined benefits plans consist of provisions for retirement benefits and death -in-service benefits.The present value of such obligations is measured by an independent actuary using the projected unit credit method. Details are presented in Note 37. Other provisions Other provisions include in particular provisions for reimbursement customers of funds due to increased margins on mortgage loans before establishing a mortgage, accrued and collected from customers before the entry into force of the Act of 5 August 2022 on the amendment to the Act on Mortgage Loans and on the supervision of mortgage brokers and agents and the act amending the act on personal income tax, the act on corporate income tax and some other acts .
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72 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Bank Pekao S.A. 36. Other liabilities Significant accounting policies Other financial liabilities included in this item are measured at the amount of the payment due, while provisions for future payments are measured at the justified, reliably estimated value necessary to settle the present obligation at the end of the reporting period. Other non -financial liabilities are measured in accordance with the measurement principles applicable to the individual categories of liabilities included in this item. Other liabilities include mainly straight -line commissions and other income collected in advance, which will be settled in the income statement in future reporting periods, as well as accruals for overheads resulting from services provided to the Bank by contractors and settlements for employee benefits (including bonuses, awards and unused holidays). Financial data 31.12.2025 31.12.2024 Other financial liabilities 3 576 3 459 Interbank and interbranch settlements 1 100 905 Card settlements 1 043 1 146 Other creditors 231 340 Accruals for overheads 266 229 Other costs to be paid 154 132 Lease liabilities 782 707 Other non financial liabilities 2 297 2 119 Payment commitments in respect of a contribution to the Bank Guarantee Fund 733 614 Employee-related liabilities 502 591 Deferred income 408 340 Public law settlements 587 503 Provisions for annual leave 67 71 Total 5 873 5 578 37. Defined benefit plans Based on internal regulations in respect to remuneration, the employees of the Group or their families are entitled to defined benefits other than remuneration: a) retirement benefits, b) death-in-service benefits. The present value of such obligations is measured by an independent actuary using the projected unit credit method. The amount of the retirement benefits and death -in-service benefits is dependent on length of service and amount of remuneration. The expected amount of the benefits is discounted actuarially, taking into account the financial discount rate and the probability of an individual get to the retirement age or die while working respectively. The financial discount rate is determined by reference to market yields at the end of reporting period on government bonds. The probability of an individual get to the retir ement age or die while working is determined using the multiple decrement model, taking into consideration the following risks: possibility of dismissal from service, risk of total disability to work and risk of death. These defined benefit plans expose the Group to actuarial risk, such as: • interest rate risk – the decrease in market yields on government bonds would increase the defined benefit plans obligations, • remuneration risk – the increase in remuneration of the Group’s employees would increase the defined benefit plans obligations, • longevity risk – the increase in life expectancy of the Group’s employees would increase the defined benefit plans obligations.
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73 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Bank Pekao S.A. The principal actuarial assumptions as at 31 December 2025 are as follows: • the discount rate at the level of 5.2% (5.9% as at 31 December 2024), • the future salary growth rate at the level of 2.5% (2.5% as at 31 December 2024), • the probable number of leaving employees calculated on the basis of historical da 1a concerning personnel rotation in the Group, • the mortality adopted in accordance with Life Expectancy Tables for men and women, published the Central Statistical Office, adequately adjusted on the basis of historical data of the Group. Reconciliation of the present value of defined benefit plans obligations The following table presents a reconciliation from the opening balances to closing balances for the present value of defined benefit plans obligations. 2025 2024 Opening balance 313 293 Current service cost 20 17 Interest expense 18 16 Remeasurements of the defined benefit obligations (1) 1 actuarial gains and losses arising from changes in demographic assumptions (12) (3) actuarial gains and losses arising from changes in financial assumptions 3 (12) actuarial gains and losses arising from experience adjustments 8 16 Contributions paid by the employer (31) (14) Closing balance 319 313 Sensitivity analysis The following table presents how the impact on the defined benefits obligations would have increased (decreased) as a result of a change in the respective actuarial assumptions by one percent. 31.12.2025 DEFINED BENEFIT PLANS OBLIGATIONS 1 PERCENT INCREASE 1 PERCENT DECREASE Discount rate (19) 21 Future salary growth rate 17 (24) 31.12.2024 DEFINED BENEFIT PLANS OBLIGATIONS 1 PERCENT INCREASE 1 PERCENT DECREASE Discount rate (18) 20 Future salary growth rate 20 (18) Maturity of defined benefit plans obligations The following table presents the maturity profile of the defined benefit plans obligations 31.12.2025 31.12.2024 The weighted average duration of the defined benefit plans obligations (in years) 6.8 6.6
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74 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Bank Pekao S.A. 38. Share-based payments Significant accounting policies Bank’s Pekao S.A. phantom shares-settled share-based payment transaction The cost of transactions settled with employees in phantom shares is measured by reference to the fair value of the liability as of the balance sheet date. The fair value of the liability is estimated based upon the Bank’s shares price on the (WSE) as of the balance sheet date and expected number of phantom shares to which full rights will be acquired. The cost of phantom share-based payments is recognized in personnel expenses together with the accompanying increase in the value of liabilities towards employees presented in ‘Other liabilities’. The value of liabilities recognized for transactions settled in phantom shares for each balance sheet date until the vesting date reflects the extent of elapse of the vesting period and the number of rights to shares the rights to which – in the opinion of the Bank’s Management Board for that date based on best available estimates of the number of phantom shares – will be eventually vested. Characteristics of Variable Remuneration System for the Management Team of the Bank Pekao S.A. The system of variable remuneration is addressed to Employees defined in the Bank as persons in managerial positions, who have a significant impact on the risk profile of the Bank and who are key employees for the fulfillment of the Bank’s strategy, risk management and long-term increase of the Bank’s income. The aim of the system is to support the execution of the Bank’s operational strategy, its risk management and to limit conflict of interests. Under the system the participant may receive a bonus based on the bonus pool approach ensuring comprehensive performance measurement at an individual level, organizational unit and results of the entire Bank as well as risk assessment’ verification of the participant’s compliant behaviour with respect to law provisions and standards adopted by the Bank. The compensation consists of cash payment and cash-settled share based payment realized in the form of phantom shares as cash equivalent amounting to the value of granted phantom shares. System of Variable Remuneration for the Management Team of the subsidiaries Pekao Group In order to meet the requirements concerning the rules of establishing the policy of variable remuneration components for individuals holding managerial positions (Regulation of the Minister of Development and Finance on the risk management system and internal control system, remuneration policy and a detailed me thod of estimating internal ca pital in banks of 8 June 2021), the Bank’s subsidiaries, Pekao Bank Hipoteczny S.A., Pekao Leasing Sp. z o.o., Pekao Investment Banking S.A, Pekao Faktoring Sp. z o.o. , Pekao Direct Sp. z o.o. , Pekao Financial Services Sp. z o .o., PeUF Sp. z o.o. (subsidiary of Pekao Leasing Sp. z o.o.), Pekao Investment Management S.A., Centrum Kart S.A. ( from November 15, 2025, the company does not conduct any operational activities due to its inclusion in the Bank),Pekao Towarzystwo Funduszy Inwestycyjnych S.A. (subsidiary of Pekao Investment Management S.A.), Pekao Fundusz Kapitałowy Sp. z o.o., Pekao Inwestycje Dłużne Sp z o.o. (in organization) use a variable remuneration system for the management. Within the system participant can receive the bonus depending on the performance and results of work of the participant, of the business unit and the company's results in the area of responsibility of the person, taking into account the results of t he whole company, as well as verification of the compliance of Participant’s behaviour with respect to law provisions , risk assessment and standards adopted by the company. At least 40 % components of variable renumerations is settled and paid in the time -period of 3 to 5 years since the granting date. The companies measure the future employees benefits at fair value of accepted liabilities, in accordance with IAS 19 ‘Employee benefits’. Results of liabilities measurement at fair value are presented in income statement as personnel expenses.
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75 Bank Pekao S.A. Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Financial data During the reporting period ending on 31 December 2025 the Bank had the following share-based payments transactions SYSTEM 2021 (*) SYSTEM 2022 (*) SYSTEM 2023 (*) SYSTEM 2024 (*) SYSTEM 2025 (*) Transaction type Cash-settled share based payments Start date of the assessment period 1 January 2021 1 January 2022 1 January 2023 1 January 2024 1 January 2025 Program announcement date January 2021 January 2022 January 2023 January 2024 January 2025 Program granting date 7 July 2022 16 June 2023 27 May 2024 19 May 2025 Date of the Supervisory Board meeting at which the 2025 assessment will be made and the bonus will be awarded (and in the case of participants who are not members of the Management Board, the date of the Bank's Management Board meeting at which the bonus pool for 2025 will be launched and the 2025 assessment will be presented) Number of instruments granted (pcs) (**) 132 263 221 934 152 208 110 107 To be determined on the date the program is awarded Maturity date 31 July 2026 (the whole programme) 31 July 2028 (the whole programme) 31 July 2029 (the whole programme) 31 July 2030 (the whole programme) 31 July 2031 (the whole programme) Deferral periods for participants in positions The Bank’s Management Board Members • 60% in the year of program granting (settlement after 1 year retention period) • 13.3 (3)% after 1 year from program granting date (settlement after 1 year retention period) • 13.3 (3)% after 2 years from program granting date (settlement after 1 year retention period) • 13.3 (3)% after 3 years from program granting date (settlement after 1 year retention period) • 60% in the year of program granting (settlement after 1 year retention period) (***) • 16% after 1 year from program granting date (settlement after 1 year retention period) • 16% after 2 years from program granting date (settlement after 1 year retention period) • 8% after 3 years from program granting date (settlement after 1 year retention period) • 60% in the year of program granting (settlement after 1 year retention period) (***) • 16% after 1 year from program granting date (settlement after 1 year retention period) • 16% after 2 years from program granting date (settlement after 1 year retention period) • 8% after 3 years from program granting date (settlement after 1 year retention period) • 60% in the year of program granting (settlement after 1 year retention period) (***) • 16% after 1 year from program granting date (settlement after 1 year retention period) • 16% after 2 years from program granting date (settlement after 1 year retention period) • 8% after 3 years from program granting date (settlement after 1 year retention period) • 60% in the year of program granting (settlement after 1 year retention period) (***) • 16% after 1 year from program granting date (settlement after 1 year retention period) • 16% after 2 years from program granting date (settlement after 1 year retention period) • 8% after 3 years from program granting date (settlement after 1 year retention period) Deferral periods for participants in other positions • 60% in the year of program granting (settlement after 1 year retention period) • 13.3 (3)% after 1 year from program granting date (settlement after 1 year retention period) • 13.3 (3)% after 2 years from program granting date (settlement after 1 year retention period) • 13.3 (3)% after 3 years from program granting date (settlement after 1 year retention period) • 60% in the year of program granting (settlement after 1 year retention period) (***) • 16% or 20% after 1 year from program granting date (settlement after 1 year retention period) • 16% or 20% after 2 years from program granting date (settlement after 1 year retention period) • 8% or zero after 3 years from program granting date (settlement after 1 year retention period) • 60% in the year of program granting (settlement after 1 year retention period) (***) • 16% or 20% after 1 year from program granting date (settlement after 1 year retention period) • 16% or 20% after 2 years from program granting date (settlement after 1 year retention period) • 8% or zero after 3 years from program granting date (settlement after 1 year retention period) • 60% in the year of program granting (settlement after 1 year retention period) (***) • 16% or 20% after 1 year from program granting date (settlement after 1 year retention period) • 16% or 20% after 2 years from program granting date (settlement after 1 year retention period) • 8% or zero after 3 years from program granting date (settlement after 1 year retention period) • 60% in the year of program granting (settlement after 1 year retention period) (***) • 16% or 20% after 1 year from program granting date (settlement after 1 year retention period) • 16% or 20% after 2 years from program granting date (settlement after 1 year retention period) • 8% or zero after 3 years from program granting date (settlement after 1 year retention period) Vesting conditions Risk assessment, Compliance assessment, Continuous employment, Reaching the aim based on financial results of the Bank for a given period Program settlement (*) In the period until 31 December 2025, the programs implemented before 2021 were also in force. The payments of these were subject to deferral or retention in the period covered by the report. (**) The participant will receive a cash payment amounting to the number the possessed phantom shares times the average closing price of the Bank’s shares at the Warsaw Stock Exchange for 30 calendar days preceding the day of the Supervisory Board meeting, where it evaluates the Bank's financial statements for a given year and benefits from acquired phantom shares in the amount corresponding to the dividend paid to shareholders during the retention period for shares acquired by the participant. (***) If the variable remuneration for a given year exceeds a particularly high amount, then 60% of the variable remuneration is deferred.
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76 Bank Pekao S.A. Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Since January 2019, the System of Variable Remuneration for the Management Team has been in force, reflecting the provisions of the resolution of the General Meeting of the Bank on adjusting the remuneration of members of the management board to the requirements of the Act on the principles of determining the remuneration of persons managing certain companies. For the System 2021, 2022, 2023, 2024 and 2025 the fair value of the program was estimated based upon the Bank’s shares price on the WSE as of the balance sheet date and expected number of phantom shares to which the rights will be acquired. For the System 2025, as of 31 December 2025 the Bank prepared the program valuation, presuming that the phantom shares were granted on 31 December 2025. This value will be changed at the actual date of granting the program. The system of variable remuneration realized in the form of phantom shares is a program settled in cash, and therefore its fair value is adjusted on each balance sheet date until the the program settlement, which in case of this program coincides with the vesting date. The carrying amount of liabilities for cash-settled phantom shares amounted to PLN 87 million as at 31 December 2025 (as at 31 December 2024 – PLN 88 million). The total value of liabilities for vested rights to phantom shares amounted to PLN 53 million as at 31 December 2025 (as at 31 December 2024 – PLN 44 million). The remuneration expenses for 2025 relating to the system of variable remuneration in the form of phantom shares amounted to PLN 30 million (in 2024 – PLN 61 million). The table below presents changes in the number of Bank’s phantom shares (in PLN thousand). 2025 2024 Opening balance 318 370 Granted during the year 110 152 Redeemed during the year - - Exercised during the year (172) (204) Terminated during the year - - Existing at the period-end 256 318 The table above does not present the number of shares granted in respect of System 2025. This number will be determined in 2026 after the Supervisory Board assessed the Bank's financial statements and assessment by the Supervisory Board and Members of the Management Board of the Bank for employees who are not Members of the Management Board of the Bank assessed the achievement of individual goals for 2025, compliance assessment and risk assessment. The hypothetical number of shares determined on the basis of the reference value of the designated bonuses to each of the program participants and arithmetic mean of the Bank’s share price on the WSE in December 202 5 amounts to 206 thousand items. System of Variable Remuneration for the Management Team of the subsidiaries Pekao The carrying amount of liabilities for cash-settled phantom shares amounted to PLN 12 million as at 31 December 2025 (as at 31 December 2024 – PLN 10 million). The remuneration expenses for 2025 relating to the system of variable remuneration in the form of phantom shares amounted to PLN 6 million (in 2024 – PLN 6 million). 39. Leasing Significant accounting policies At inception of a contract, the Group assesses whether the contract is or contains a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. The Group is a party to lease contracts, based on which the Group accepts the right to use an identified asset for a period of time in exchange for consideration. The Group is also a party to lease contracts, based on which the Group transfers the right to use of an identified asset for a period of time in exchange for consideration.
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77 Bank Pekao S.A. Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Group as a lessee The Group, as a lessee, recognizes the lease contract as a component of the right -to-use assets and the corresponding lease liability on the date when the subject of the lease is available for use. Each lease payment is allocated between the liability and accrued interest on the liability. Interest expense is recognized in the income statement over the lease term to obtain a constant periodic interest rate on the remaining balance of the lease liability. The right -of-use asset is depreciated on a straight-line basis over the shorter of two periods: the useful life of the asset or the lease term. The Group recognizes the right-of-use assets in the item of the statement of financial position ‘Property, plant and equipment’ and lease liabilities - in the item of the statement of financial position ‘Other liabilities’. The right-of-use assets are measured at cost, comprising: • the amount of the initial measurement of the lease liability, • any lease payments made at or before the commencement date, less any lease incentives received, • any initial direct costs incurred by the lessee, and • an estimate of costs to be incurred by the lessee in dismantling and removing the underlying asset, restoring the site on which it is located, if the lessee incurs liabilities regarding these costs. On the date when the lease commences, the Group, as a lessee, measures the lease liability in the present value of lease payments outstanding as at that date. The lease liabilities include the current value of the following lease payments: • fixed payments less any lease incentives receivable, • variable lease payments that depend on an index or a rate, • amounts expected to be payable by the lessee under residual value guarantees, • the exercise price of a purchase option if the lessee is reasonably certain to exercise that option, and • payments of penalties for terminating the lease, if the lease term reflects the lessee exercising an option to terminate the lease. The lease payments are discounted using the interest rate implicit in the lease, if the rate can be readily determined, or th e Group’s incremental borrowing rate. After the lease commencement date, the Group taken into account changes in lease payments (resulting, inter alia, from changes in the index, rate, lease term), by remeasuring the lease liabilities and the right -of-use assets. The Group does not recognize the right-of-use assets and lease liabilities for short-term lease contracts and lease contracts of low-value assets. Short-term lease payments and payments for leases of low-value assets are recognized as an expense in the income statement on a straight-line basis. Short-term lease contracts are lease contracts that have a lease term of 12 months or less. Low-value assets include mainly lease of space (land) for ATMs. Group as a lessor At commencement date of a lease, the Group, as a lessor, classifies each lease contract as an operating lease or a finance lease. The Group classifies a lease as a finance lease whether it transfers substantially all the risks and rewards of ownership of an underlying asset. Conversely, if substantially all the risks and rewards of ownership of the underlying asset are not transferred, the lease is considered to be an operating lease. In the process of determining the classification of a lease contract, the Group takes into account elements such as whether the lease term accounts for the major part of the economic life of the underlying asset. Finance lease At the commencement date, the Group, as a lessor, recognizes assets held under a finance lease in its statement of financial position and present them as a receivables from finance lease (presented in item ‘Loans and advances to customers’) at an amount equal to the net investment in the lease, i.e. at present value of lease payments and any unguaranteed residual value assigned to the Group. At the finance lease commencement date, the lease payments included in the measurement of the net investment in the lease comprise the following payments for the right to use the underlying asset during the lease term that are not received at the commencement date: • fixed payments, less any lease incentives payable, • variable lease payments that depend on an index or a rate, • any residual value guarantees provided to the Group as a lessor, • the exercise price of a purchase option if the lessee is reasonably certain to exercise that option, and • payments of penalties for terminating the lease, if the lease term reflects the lessee exercising an option to terminate the lease. During the lease term, the Group, as a lessor, recognizes interest income, based on a pattern reflecting a constant periodic rate of return on the Group's net investment in the lease. Lease payments paid over the lease term, reduce both the principal and the accrued interest.
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78 Bank Pekao S.A. Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) The Group applies the derecognition and impairment requirements in IFRS 9 to the net investment in the lease. The estimated unguaranteed residual values used in computing the gross investment in the lease are regularly reviewed by the Group. Operating lease During the lease term, the Group, as a lessor, recognizes lease payments from operating lease as income on a straight -line basis and presents them in the item ‘Other operating income’. The depreciation of leased assets is recognized in accordance with the principles applied by the Group for property, plant and equipment. Financial data The Group as a Lessor As a lessor, the Group appears in contracts for the lease of premises, terminals, IT equipment and car leasing classified as operating leases. In 2025, the Group recognized revenues from this in the amount of PLN 35 million (in 2024 - PLN 32 million). The table below presents the maturity analysis of lease payments, presenting the undiscounted lease payments to be received after the balance sheet date. 31.12.2025 31.12.2024 Up to 1 year 13 13 Between 1 and 2 years 9 10 Between 2 and 3 years 7 6 Over 3 years 6 3 Total 35 32 The Group as Lessee As a lessee, the Group acts in building, cars and IT infrastructure lease contracts. Information on lease contracts in which the Group acts as a lessee is presented below. Right-of-use assets included in the item ‘Property, plant and equipment’. 2025 LANDS AND BUILDINGS MACHINERY AND EQUIPMENT MEANS OF TRANSPORT TOTAL Opening balance 626 38 76 740 Depreciation (119) (7) (18) (144) Additions to right-of-use assets 53 20 135 208 Lease change 34 45 2 81 Derecognition of right-of-use assets (6) (50) (36) (92) Closing balance 588 46 159 793 2024 LANDS AND BUILDINGS MACHINERY AND EQUIPMENT MEANS OF TRANSPORT TOTAL Opening balance 578 14 69 661 Depreciation (117) (5) (14) (136) Additions to right-of-use assets 125 28 23 176 Lease change 40 - 1 41 Derecognition of right-of-use assets - 1 (3) (2) Closing balance 626 38 76 740 Lease liabilities 31.12.2025 31.12.2024 Other liabilities 782 707 Total 782 707
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79 Bank Pekao S.A. Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Amounts recognized in income statement LEASES UNDER IFRS 16 2025 2024 Interest expense on lease liabilities (29) (34) Expenses relating to short-term leases presented in ‘Other administrative expenses’ - - Expenses relating to leases of low-value assets, excluding short-term leases of low-value assets presented in ‘Other administrative expenses’ (1) (1) Amounts recognized in cash flow statement In 2025, total cash outflow for leases amounted to PLN 94 million (in 2024 – PLN 103 million). 40. Contingent liabilities and legal claims Significant accounting policies Contingent liabilities and commitments The Group enters into transactions which are not recognized in the statement of financial position as assets or liabilities, but which result in contingent liabilities and commitments. Contingent liabilities are characterized as: • a potential obligation the existence of which will be confirmed upon occurrence or non -occurrence of uncertain future events that are beyond the control of the Group (e.g. litigations), • a current obligation which arises as a result of past events but is not recognized in the statement of financial position as it is improbable that it will result in an outflow of benefits to settle the obligation or the amount of the obligation canno t be reliably measured (mainly: unused credit lines and guarantees and letters of credit issued). Financial guarantees and loan commitments Financial guarantees are contracts that the Group is required as issuer to make specified payments to reimburse the holder for a loss it to be incurred because a specified debtor fails to make when due under the original or modified terms of a debt instrument. Financial guarantees are measured at the higher of: • the amount of the loss allowance, or • the amount initially recognised less the cumulative amount of income recognised in accordance with the principles of IFRS 15. Loan commitments are binding commitments to extend credit under certain prespecified terms and conditions. Financial data Court cases As of 31 December 2025 the following court cases are pending with involvement of the Group, that are important in view of the value of the object of litigation and the risk of outflow of funds (against the Group): • brought by the administrator of the restructuring estate of a joint-stock company - a claim to establish that the provisions of the general agreement are ineffective in relation to the restructuring mass of a joint-stock company to the extent that they provide for the transfer of receivables to the Bank in the part including VAT. Value of the object of litigation PLN 190.7 million, initiation date – 10 March 2025. On 29 January 2026 the District Court in Warsaw issued a judgment dismissing the lawsuit in its entirety. The sentence is not legally valid. In the current factual and legal situation, the Bank assesses the funds outflow risk - which may result from the resolution of the determination case - as possible, • brought by the association – a claim for payment of damages against the Bank and 2 other legal person for damages incurred in connection with irregularities committed by the defendants, according to the association, when offering the purchase of premises and financing the construction of a condohotel. Value of the object of litigation PLN 86.7 million litigation, initiation date – 14 November 2022. In the present factual and legal circumstances the Bank assesses the funds outflow risk as possible, • brought by the receiver for a joint stock company in liquidation bankruptcy – lawsuit for payment of compensation for a damage incurred as a result of the Bank’s demanding immediate payment of the amounts due in virtue of payment of the price from the cred it receivables transfer agreement and conducting debt enforcement collection of the portion of the price remaining for payment by a court enforcement officer. V alue of the object of litigation PLN 57.5 million, litigation initiation date – 30 April 2015. O n 19 September 2025 the District Court in Warsaw issued a judgment dismissing the lawsuit in its entirety. The sentence is legally valid. The case was finally concluded in the fourth quarter of 2025.
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80 Bank Pekao S.A. Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) • brought by a natural person – lawsuit for payment by the Bank of an amount charged by virtue of settlement of financial future or forward transactions. Value of the object of litigation PLN 38.9 million, litigation initiation date 2 October 2016. On 6 May 2019 the Regional Court in Warsaw issued a sentence ordering the Bank to pay the amount of PLN 3.4 million and as to the remainder the Court dismissed the suit. The sentence is not legally valid. The Bank and the plaintiff appealed against the judgment. On the 16 December 2020 the Court of Appeal in Warsaw quashed the sentence of the District Court in its entirety and remitted the case to that Court. In the present factual and legal circumstances the Bank assesses the funds outflow risk in the amount of PLN 35.5 million as possible; • brought by a natural person – lawsuit for invalidation of the loan agreement and legal collateral agreements and payment of undue benefit, damages and compensation. Value of the object of litigation PLN 30.5 million, litigation initiation date – 22 June 2023. In the present factual and legal circumstances, the Bank assesses the funds outflow risk as possible. None of the litigations pending in year 2025 before the court, authority competent for arbitrary proceedings or a body of public administration posed a threat for financial liquidity of the Group. The Bank created provisions for litigations against the Bank entities which, according to the legal opinion, are connected with a risk of the funds outflow resulting from the fulfilment of the obligation. The value of the provisions as at 31 December 2025 is PLN 1 928 million, of which 1 564 million concerns provisions for legal risk related to foreign currency mortgage loans in CHF (PLN 1 461 million as at 31 December 2024 of which 1 308 million concerns provisions for legal risk related to foreign currency mortgage loans in CHF) - details are presented in Note 45.3. Litigation against the Group concerning the free credit sanction As at 31 December 2025 there were 1 343 proceedings with a total value of PLN 41 .3 million in dispute concerning the sanction of a free loan within the meaning of Article 45 of the Act of 12 May 2011 on consumer credit, in which the plaintiff s claim reimbursement of interest and other costs incurred in connection with the conclusion of the loan agreement. By 31 December 2025, 125 cases were finally concluded, of which in 109 proceedings the judgments were favourable to the Group and in 16 unfavourable. The Group disputes the validity of the claims raised in these cases. The case law to date has been mostly favorable to the Group. Proceedings of the Office of Competition and Consumer Protection Proceedings of the President of the Office of Competition and Consumer Protection regarding irregularities in the area of complaints On 21 November 2025 the President of the Office of Competition and Consumer Protection issued a decision under Article 28 of the Act on competition and consumer protection, so-called commitment decision, that was requested by the Bank. The decision is legally valid since 22 December 2025 and the Bank is in the process of implementing it . As at 31 December 2025, the Bank recognizes a provision in the amount of PLN 98.2 million (provision in the amount of PLN 64.1 million as at 31 December 2024). Proceedings of the President of the Office of Competition and Consumer Protection regarding unauthorized transactions On 8 February 2024, the President of the Office of Competition and Consumer Protection initiated proceedings regarding practices violating the collective interests of consumers regarding unauthorized payment transactions and the failure to return by the D+1 deadline. As at 31 December 2025, the Bank recognizes a provision in the amount of PLN 48.6 million regarding to the proposal for the implementation of the commitment presented by the Bank to the President of the Office of Competition and Consumer Protection. Due to the fact that the proceedings and conversations with the Office of Competition and Consumer Protection are ongoing, it is possible that the amount of the provision will change in the future. Proceedings of the Office of Competition and Consumer Protection regarding irregularities in the application of the so-called credit holidays On 15 December 2025 President of UOKiK issued Decision No. DOZIK ‑6/2025, finding the Bank ’s and the Pekao Bank Hipoteczny S.A.’s practices relating to the suspension of loan repayments (the so ‑called loan payment holidays) to be unlawful. The President imposed a fine of PLN 119 million on the Bank and ordered it to inform all consumers affected by the challenged practices of the violations. The Bank has appealed the decision to the Regional Cour t in Warsaw - the Court of Competition and Consumer Protection. As at 31 December 2025, the Group recognizes a provision in the amount of PLN 119 million.
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81 Bank Pekao S.A. Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Explanatory proceedings of the President of the Office of Competition and Consumer Protection regarding antitrust issues The Office of Competition and Consumer Protection is currently conducting explanatory proceedings against banks aimed at preliminary determination of whether there may have been a violation of the provisions of the Act on the Protection of Competition and Consumers in connection with the assessment of the creditworthiness of customers and the granting of loans (proceedings initiated on 6 March 2025) or in connection with the activities of payment organizations or banks in the area of determining the amount, settlement or collection of fees related to transactions using ATMs (proceedings initiated on 13 March 2025) , which could constitute a justification for initiating antitrust proceedings. The Bank is covered by these explanatory proceedings. At the current stage, the Bank has not created a provision for the proceedings. Off-balance shet commitments granted Off-balance shet commitments granted by entity 31.12.2025 31.12.2024 Financial commitments granted banks 406 581 customers 63 432 60 408 budget entities 1 260 1 160 Total 65 098 62 149 Guarantees issued Guarantees issued by entity 31.12.2025 31.12.2024 Issued to banks 1 600 1 110 guarantees 1 524 1 088 securities’ underwriting guarantees - - confirmed export letters of credit 76 22 Issued to customers 10 974 9 407 guarantees 9 731 8 291 securities’ underwriting guarantees 1 235 1 107 sureties 8 9 Issued to budget entities 1 092 328 guarantees 48 33 securities’ underwriting guarantees 1 044 295 Total 13 666 10 845 Additionally, as at 31 December 202 5, the Bank granted PLN 141 million of financial liabilities under binding offers on the balance sheet date for mortgage loans and loans granted in tender processes meeting the criteria of Art. 66 of the Civil Code (PLN 259 million as at 31 December 2024). Off-balance sheet commitments received 31.12.2025 31.12.2024 Financial received 338 1 396 Guarantees received 38 530 33 633 Total 38 868 35 029 Moreover, the Group has the ability to obtain financing from National Bank of Poland secured securities. 41. Equity Significant accounting policies Equity is comprised of the capital and funds created by the companies of the Group in accordance with the binding legal regulations and the appropriate laws and Articles of Association. Equity also includes retained earnings. Subsidiaries’ equity line items, other that share capital, are added to the relevant equity line items of the parent company, in the proportion of the Group’s interest. The equity of the Group includes only those parts of the subsidiaries’ equity which were created after the date of purchase of shares or stocks by the parent entity.
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82 Bank Pekao S.A. Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) The Group equity consists of the following: a) share capital - applies only to the capital of the Bank as the parent entity and is presented at nominal value specified in the Articles of Association and in the entry in the Enterprises Registry, b) other capital: • issue premium - surplus generated during share issues over the nominal value of such issues, remaining after the issue costs are covered, • the general banking risk fund is established at Bank Pekao S.A. in keeping with the Banking Act dated 29 August 1997 from profit after tax, • other reserve capital utilized for the purposes defined in the Statute is created from appropriations of profits, • other supplementary capital, established in keeping with provisions under the Articles of Association of companies from profit appropriations, and brokerage activity fund for stock broking operations, carried out by Bank Pekao S.A., c) other components of comprehensive income includes the impact of revaluation of debt financial instruments measured at fair value through other comprehensive income, revaluation or sale of investments in equity instruments designated at fair value through o ther comprehensive income, revaluation of derivative instruments hedging cash flows, remeasurements of the defined benefit liabilities and the value of deferred tax for items classified as temporary differences, recognized as other components of comprehensive income. In the statement of financial position, the other components of comprehensive income are presented as net value. d) retained earnings and net profit for the period: • retained earnings from prior periods includes undistributed profit and uncovered losses generated/incurred in prior periods by subsidiaries consolidated full method, • net profit/loss which constitutes profit/loss presented in the income statement for the relevant period. Net profit is after accounting for income tax. Financial data Share capital Shareholding structure CLASS/ISSUE TYPE OF SHARES NUMBER OF SHARES NOMINAL VALUE OF CLASS/ISSUE (IN PLN THOUSAND) EQUITY COVERAGE REGISTRATION DATE DIVIDEND RIGHTS (FROM DATE) A Common bearer stock 137 650 000 137 650 fully paid-up 21.12.1997 01.01.1998 B Common bearer stock 7 690 000 7 690 fully paid-up 06.10.1998 01.01.1998 C Common bearer stock 10 630 632 10 631 fully paid-up 12.12.2000 01.01.2000 D Common bearer stock 9 777 571 9 777 fully paid-up 12.12.2000 01.01.2000 E Common bearer stock 373 644 374 fully paid-up 29.08.2003 01.01.2003 F Common bearer stock 621 411 621 fully paid-up 29.08.2003 19.05.2006 G Common bearer stock 603 377 603 fully paid-up 29.08.2003 15.05.2008 H Common bearer stock 359 840 360 fully paid-up 12.08.2004 01.01.2004 I Common bearer stock 94 763 559 94 764 fully paid-up 29.11.2007 01.01.2008 Total number of Shares (pcs) 262 470 034 Total share capital in PLN thousand 262 470 Nominal value per share = PLN 1.00 Change in the number of shares (pcs) 2025 ISSUED AND FULLY PAID-UP SHARES TOTAL Opening balance 262 470 034 262 470 034 Closing balance 262 470 034 262 470 034 2024 ISSUED AND FULLY PAID-UP SHARES TOTAL Opening balance 262 470 034 262 470 034 Closing balance 262 470 034 262 470 034
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83 Bank Pekao S.A. Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Other capital and reserves, retained earnings and profit for the period The table below presents the structure of the Group’s equity attributable to equity holders of the Bank Pekao S.A. 31.12.2025 31.12.2024 Share premium 9 137 9 137 General banking risk fund 1 983 1 983 Other reserve capital 14 562 12 995 Other components of comprehensive income 504 (744) remeasurements of the defined benefit liabilities (gross) (95) (96) remeasurements of the defined benefit liabilities (tax) 22 18 remeasurements of the defined benefit liabilities (net) (73) (78) revaluation of debt financial instruments and loans measured at fair value through other comprehensive income (gross) 60 (334) revaluation of debt financial instruments and loans measured at fair value through other comprehensive income (tax) (9) 63 revaluation of debt financial instruments and loans measured at fair value through other comprehensive income (net) 51 (271) revaluation or sale of investments in equity instruments designated at fair value through other comprehensive income (gross) 343 196 revaluation or sale of investments in equity instruments designated at fair value through other comprehensive income (tax) (79) (37) revaluation or sale of investments in equity instruments designated at fair value through other comprehensive income (net) 264 159 revaluation of hedging financial instruments (gross) 332 (684) revaluation of hedging financial instruments (tax) (70) 130 revaluation of hedging financial instruments (net) 262 (554) Other supplementary capital 361 360 supplementary capital 317 316 bonds convertible into shares - equity component 29 29 fund for brokerage activities 15 15 Other capital and reserves 26 547 23 731 Retained earnings 1 524 1 532 Net profit for the period 7 015 6 376 Retained earnings and net profit for the period 8 539 7 908 Total 35 086 31 639 42. Non - controlling interests Significant accounting policies Non - controlling interests are defined as the equity in a subsidiary not attributable, directly or indirectly, to the Bank . Financial data The below table presents the information for each of the subsidiaries that have non-controlling interests that are material to the Group. NAME OF THE SUBSIDIARY COUNTRY OF INCORPORATION AND PLACE OF BUSINESS PERCENTAGE SHARE OF NON-CONTROLLING INTERESTS IN SHARE CAPITAL / VOTING RIGHTS NET PROFIT FOR THE PERIOD ATTRIBUTABLE TO NON-CONTROLLING INTERESTS ACCUMULATED NON-CONTROLLING INTERESTS 31.12.2025 31.12.2024 2025 2024 31.12.2025 31.12.2024 Pekao Financial Services Sp. z o.o. Poland 33.5 33.5 4 3 14 13 Total 4 3 14 13
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84 Bank Pekao S.A. Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) The summarized financial information of each of the subsidiaries that are material to the Group are presented below PEKAO FINANCIAL SERVICES SP. Z O.O. 31.12.2025 31.12.2024 Cash and cash equivalents 18 18 Intangible assets 15 16 Property, plant and equipment 17 15 Other items of assets 12 12 TOTAL ASSETS 62 61 Amounts due to customers - 3 Other liabilities 18 15 Other items of liabilities 2 2 TOTAL LIABILITIES 20 20 PEKAO FINANCIAL SERVICES SP. Z O.O. 2025 2024 Revenue 89 84 Net profit (loss) for the period 11 10 Other comprehensive income - - Total comprehensive income 11 10 Dividends paid to non-controlling interests 3 2 Cash flows from operating activities 22 20 Cash flows from investing activities (10) (8) Cash flows from financing activities (12) (9) Net change in cash and cash equivalents - 3 Cash and cash equivalents at the beginning of the period 17 14 Cash and cash equivalents at the end of the period 17 17 43. Additional information to the consolidated cash flow statement Interest received and paid in operating 2025 2024 Loans and advances to banks 617 873 Loans and advances to customers 12 863 12 976 Securities (including Assets pledged as security for liabilities) 5 822 5 830 INTEREST RECEIVED 19 302 19 679 Amounts due to other banks (270) (364) Amounts due to customers (4 404) (4 728) Debt securities issued (1 115) (1 025) Other liabilities (32) (36) INTEREST PAID (5 821) (6 153) Changes in liabilities arising from financing activities BALANCE AS AT 1.01.2025 CHANGES FROM FINANCING CASH FLOWS CHANGES FROM NON- CASH CHANGES (a.o. ACCRUED INTEREST, FOREIGN EXCHANGE DIFFERENCES) BALANCE AS AT 31.12.2025 INCURRED REPAYMENT Debt securities issued 16 167 36 504 (32 131) (275) 20 265 Subordinated liabilities 2 782 2 869 - (9) 5 642 Loans and advances received 5 382 677 (2 002) (65) 3 992 Lease liabilities 707 - (114) 189 (*) 782 Total 25 038 40 050 (34 247) (160) 30 681 (*) In this the amount of PLN 77 million relating to new lease agreements.
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85 Bank Pekao S.A. Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Changes in liabilities arising from financing activities BALANCE AS AT 1.01.2024 CHANGES FROM FINANCING CASH FLOWS CHANGES FROM NON- CASH CHANGES (a.o. ACCRUED INTEREST, FOREIGN EXCHANGE DIFFERENCES) BALANCE AS AT 31.12.2024 INCURRED REPAYMENT Debt securities issued 9 958 29 948 (23 639) (100) 16 167 Subordinated liabilities 2 781 - - 1 2 782 Loans and advances received 5 265 1 185 (1 007) (61) 5 382 Lease liabilities 579 - (66) 194(*) 707 Total 18 583 31 133 (24 712) 34 25 038 (*) In this the amount of PLN 24 million relating to new lease agreements. 44. Related party transactions The t ransactions between the Bank and related parties are typical transactions arising from current operating activities conducted by the Bank. Such transactions mainly include loans, deposits, foreign currency transactions and guarantees. These transactions were concluded on terms that did not materially different from market terms. The credit granting process applicable to the Bank’s management and entities related to the Bank According to the Banking Act, credit transactions with Members of the Bank ’s Management Board and Supervisory Board, persons holding managerial positions at the Bank, with the entities related financially or organizationally therewith, shall be effected according to Regulation adopted by the Supervisory Board of the Bank. The Regulation provide s detailed decision-making procedures, applicable to transactions with such persons and entities, also defining the decision-making levels authorized to take decisions. In particular, the transactions with the Members of the Bank’s Management Board or Supervisory Board or with an entity related therewith financially or organizationally, are subject to decisions taken by the Bank’s Management Board and Supervisory Board. Members of the Bank’s Management Board and entities related therewith financially or organizationally may take advantage of credit products offered by the Bank on standard terms and conditions of the Bank. In particular, the Bank may not offer more advantageous credit interest rates to such persons or entities. Credit risk assessment is performed using the methodology applied by the Bank, tailored to the client’s segment and type of transaction. In case of entities related to the Bank, the standard credit procedures are applied, with transaction -related decisions taken exclusively at level of the Bank’s Head Office.
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86 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Bank Pekao S.A. Related party transactions Related party transactions as at 31 December 2025 NAME OF ENTITY RECEIVABLES FROM LOANS AND PLACEMENTS SECURITIES RECEIVABLES FROM REVALUATION OF DERIVATIVES OTHER RECEIVABLES LIABILITIES FROM LOANS AND DEPOSITS LIABILITIES FROM REVALUATION OF DERIVATIVES OTHER LIABILITIES PZU S.A. – the Bank‘s parent entity 1 - - 17 560 1 40 Entities of PZU S.A. Group excluding the Bank Pekao S.A. Group entities 94 - - 12 630 1 - Associates of Bank Pekao S.A Group entities Krajowy Integrator Płatności S.A. - - - - 48 - - PZU Fundusz Inwestycyjny Zamknięty Private Debt 1 - - - 2 - - Key management personnel of the Bank Pekao S.A. - - - - 3 - - Total 96 - - 29 1 243 2 40 Related party transactions as at 31 December 2024 NAME OF ENTITY RECEIVABLES FROM LOANS AND PLACEMENTS SECURITIES RECEIVABLES FROM REVALUATION OF DERIVATIVES OTHER RECEIVABLES LIABILITIES FROM LOANS AND DEPOSITS LIABILITIES FROM REVALUATION OF DERIVATIVES OTHER LIABILITIES PZU S.A. – the Bank‘s parent entity - - - 13 356 - 37 Entities of PZU S.A. Group excluding the Bank Pekao S.A. Group entities 18 - 1 9 555 3 - Associates of Bank Pekao S.A Group entities - Krajowy Integrator Płatności S.A. - - - - 30 - 1 Key management personnel of the Bank Pekao S.A. - - - - 2 - - Total 18 - 1 22 943 3 38
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87 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Bank Pekao S.A. Income and expenses from transactions with related parties for the period from 1 January to 31 December 2025 NAME OF ENTITY INTEREST INCOME INTERES EXPENSE FEE AND COMMISSION INCOME FEE AND COMMISSION EXPENSE INCOME FROM DERIVATIVES AND OTHER EXPENSES FROM DERIVATIVES AND OTHER PZU S.A. – the Bank ‘s parent entity (2) (24) 105 - 2 (21) Entities of PZU S.A. Group excluding the Bank Pekao S.A. Group entities 1 (32) 99 (1) 2 (44) Associates of Bank Pekao S.A Group entities Krajowy Integrator Płatności S.A. - (1) 2 - - - PZU Fundusz Inwestycyjny Zamknięty Private Debt - - - - - - Key management personnel of the Bank Pekao S.A. - - - - - - Total (1) (57) 206 (1) 4 (65) Income and expenses from transactions with related parties for the period from 1 January to 31 December 2024 NAME OF ENTITY INTEREST INCOME INTERES EXPENSE FEE AND COMMISSION INCOME FEE AND COMMISSION EXPENSE INCOME FROM DERIVATIVES AND OTHER EXPENSES FROM DERIVATIVES AND OTHER PZU S.A. – the Bank ‘s parent entity (1) (19) 85 (1) 1 (11) Entities of PZU S.A. Group excluding the Bank Pekao S.A. Group entities 3 (21) 79 (1) 1 (59) Associates of Bank Pekao S.A Group entities Krajowy Integrator Płatności S.A. - - 1 - - - Key management personnel of the Bank Pekao S.A. - - - - - - Total 2 (40) 165 (2) 2 (70)
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88 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Bank Pekao S.A. Off-balance sheet financial liabilities and guarantees as at 31 December 2025 NAME OF ENTITY GRANTED RECEIVED FINANCIAL GUARANTEES FINANCIAL GUARANTEE PZU S.A. – the Bank‘s parent entity 3 15 - 729 (*) Entities of PZU S.A. Group excluding the Bank Pekao S.A. Group entities 19 12 - - Associates of Bank Pekao S.A Group entities Krajowy Integrator Płatności S.A. - 3 - - Key management personnel of the Bank Pekao S.A. - - - - Total 22 30 - 729 (*) A guarantee securing the repayment of a loan granted to one of the Bank's subsidiaries. Off-balance sheet financial liabilities and guarantees as at 31 December 20 24 NAME OF ENTITY GRANTED RECEIVED FINANCIAL GUARANTEES FINANCIAL GUARANTEE PZU S.A. – the Bank‘s parent entity 3 15 - 737 (*) Entities of PZU S.A. Group excluding the Bank Pekao S.A. Group entities 17 10 - - Associates of Bank Pekao S.A Group entities Krajowy Integrator Płatności S.A. - 2 - - Key management personnel of the Bank Pekao S.A. - - - - Total 20 27 - 737 (*) A guarantee securing the repayment of a loan granted to one of the Bank's subsidiaries.
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Bank Pekao S.A. 89 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Transactions with the State Treasury and significant transactions with entities related to the State Treasury The Group's transactions with the State Treasury were mostly related to treasury securities and banking services. These transactions are concluded and settled on terms obtainable by customers who are not related parties. Significant transactions with the State Treasury and its related entities in accordance with the exception contained in IAS 24.25 are presented below (10 largest clients on the assets side, 10 largest clients on the liabilities side and the 10 largest clients with off-balance sheet commitments granted along with the impact of these transactions on the profit and loss account for 2025 and 2024). Significant transactions with the State Treasury and its related entities as at 31 December 202 5 NAME OF ENTITY RECEIVABLES FROM LOANS, ADVANCES AND PLACEMENTS / SECURITIES INTEREST INCOME AND FEE AND COMMISION INCOME State Treasury 76 518 3 224 Entity 1 8 222 867 Entity 2 3 577 89 Entity 3 1 197 72 Entity 4 714 59 Entity 5 619 14 Entity 6 517 7 Entity 7 412 45 Entity 8 280 13 Entity 9 262 16 Entity 10 235 9 Total 92 553 4 415 NAME OF ENTITY LIABILITIES FROM LOANS AND DEPOSITS INTERES EXPENSE State Treasury 62 (20) Entity 1 2 989 (16) Entity 2 1 220 (37) Entity 3 1 217 (7) Entity 4 1 021 (19) Entity 5 972 (19) Entity 6 916 (7) Entity 7 846 (40) Entity 8 777 (3) Entity 9 756 (14) Entity 10 602 (4) Total 11 378 (186) NAME OF ENTITY OFF-BALANCE SHEET COMMITMENTS GRANTED FEE AND COMMISION INCOME State Treasury 200 - Entity 1 4 313 - Entity 2 2 526 - Entity 3 1 500 1 Entity 4 1 354 - Entity 5 731 3 Entity 6 545 3 Entity 7 354 1 Entity 8 348 - Entity 9 246 - Entity 10 226 - Total 12 343 8
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Bank Pekao S.A. 90 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Significant transactions with the State Treasury and its related entities as at 31 December 202 4 NAME OF ENTITY RECEIVABLES FROM LOANS, ADVANCES AND PLACEMENTS / SECURITIES INTEREST INCOME AND FEE AND COMMISION INCOME State Treasury 55 765 2 050 Entity 1 13 036 638 Entity 2 4 490 112 Entity 3 978 79 Entity 4 847 35 Entity 5 624 14 Entity 6 583 46 Entity 7 417 103 Entity 8 293 34 Entity 9 271 15 Entity 10 230 24 Total 77 534 3 150 NAME OF ENTITY LIABILITIES FROM LOANS AND DEPOSITS INTERES EXPENSE State Treasury 57 (12) Entity 1 3 299 (197) Entity 2 1 243 (66) Entity 3 1 064 (36) Entity 4 1 044 (54) Entity 5 855 (42) Entity 6 792 (4) Entity 7 715 (22) Entity 8 679 (21) Entity 9 564 (22) Entity 10 543 (53) Total 10 855 (529) NAME OF ENTITY OFF-BALANCE SHEET COMMITMENTS GRANTED FEE AND COMMISION INCOME State Treasury 200 - Entity 1 2 891 - Entity 2 2 300 - Entity 3 1 275 - Entity 4 938 - Entity 5 769 4 Entity 6 513 1 Entity 7 400 - Entity 8 370 - Entity 9 244 2 Entity 10 228 - Total 10 128 7
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Bank Pekao S.A. 91 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Remuneration expenses of the Bank’s Management Board and Supervisory Board Members VALUE OF BENEFITS 2025 2024 Management Board of the Bank Short-term employee benefits (*) 13 13 Post-employment benefits - 4 Long-term benefits (**) 2 5 Paid termination benefits - 2 Share-based payments (***) 6 11 Total 21 35 Supervisory Board of the Bank Short-term employee benefits (*) 2 1 Total 2 1 (*) Short-term employee benefits include: base salary, bonuses and other benefits due in next 12 months from the date of the balance sheet. (**) The item ‘Other long-term benefit’ includes: provisions for deferred bonus payments. (***) The value of share -based payments is a part of Personnel Expenses, recognized according to IFRS 2 during the reporting period in the income statement, representing the settlement of fair value of shares, including phantom shares, granted to the Members of the Bank’s Management Board. As at 31 December 202 5 the Bank recognized provisions for the variable remuneration system for Management Board Members in the amount of PLN 17 million (as of 31 December 2024: PLN 25 million). Detailed information on the remuneration of particular Members of the Management Board and the Supervisory Board is presented in Note 11 of the ‘Report on the activities of the Bank Pekao S.A. Group for 2025 (prepared together with the Report on the activities of Bank Pekao S.A.)’. The Bank’s Management Board and Supervisory Board Members did not receive any remuneration from subsidiaries and associates in 2025 and 2024. Remuneration expenses of Supervisory Boards and Management Boards of subsidiaries VALUE OF BENEFITS 2025 2024 Subsidiaries’ Management Boards Short-term employee benefits 17 17 Post-employment benefits 1 2 Long-term benefits 1 1 Paid termination benefits - 1 Total 19 21 Subsidiaries’ Supervisory Boards Short-term employee benefits 1 1 Total 1 1
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Bank Pekao S.A. 92 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) 45. Risk management and fair value The risk management policy of the Bank aims at optimizing the structure of balance and off -balance sheet items taking into consideration the assumed risks-income relation and overall impact of various risks that the Bank undertakes in conducting its business activities. Risks are monitored and controlled with reference to profitability and capital coverage and are regularly reported in accordance with rules presented below. The further part of the note describes all the significant types of risk involved in the Group's operations. NOTE TITLE NOTE NUMBER Organizational structure of risk management 45.1 Credit risk 45.2 Legal risk regarding foreign currency mortgage loans in CHF 45.3 Market risk 45.4 Liquidity risk 45.5 Operational risk 45.6 Climate risk 45.7 Capital management 45.8 Fair value of financial assets and liabilities 45.9 45.1. Organizational structure of risk management Supervisory Board The Supervisory Board supervises the implementation of the risk management system and assesses its adequacy and effectiveness. The Supervisory Board is responsible for approving the risk management strategy which includes the objectives and main principles of risk management for approving the overall acceptable level of risk (the risk appetite), and for monitoring their compliance. Moreover, the Supervisory Board supervises the compliance of the Group’s risk -taking strategy with the Group’s strategy and financial plan. Carrying out their tasks, the Supervisory Board is assisted by the Risk Committee and the Audit Committee. Management Board The Management Board is responsible for the development, implementation and functioning of risk management system by, among others, introducing relevant, internal regulations, taking into account the results of internal audit inspections. The Management Board develops the risk management strategy and determines the risk appetite. The Management Board is responsible for the effectiveness of the risk management system, internal control system and internal capital assessment process as well as for the efficiency of the risk management system and the internal capital estimation process and their monitoring. The Management Board introduces the essential adjustments or improvements to these processes and systems in the event of changes to risk lev el and risk profile of the Group’s operations and changes in economic environment factors or irregularities in the functioning of processes or systems. Periodically, the Management Board submits to the Supervisory Board concise information on the types, scale and significance of risks the Group is exposed to, as well as on methods used in the risk management. The Management Board assesses whether the identification, measurement, monitoring, reporting and control or mitigation of risks are carried out at an appropriate level as part of the risk management system. Moreover, the Management Board examines whether the management at all levels effectively manages the risks within the scope of their competence. Committees Performing these risk management tasks, the Management Board is supported by the relevant committees: • Assets, Liabilities and Risk Management Committee - in the strategic areas of risk and capital management, • Liquidity and Market Risk Committee, acting as support for the Assets, Liabilities and Risk Management Committee – in ongoing monitoring of liquidity and market risks, • Operational Risk Committee – in operational risk management, • Credit Risk Committee – in analysing the Bank's credit risk profile, making important decisions within the area of credit risk management and issuing opinions on the credit risk strategy and policy, • Retail Client Risk Committee – performing a supporting and advisory function in the scope of ongoing monitoring of the credit risk of the retail portfolio, • Corporate Client Risk Committee – performing a supporting and advisory function in the scope of ongoing monitoring of the credit risk of the corporate portfolio,
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Bank Pekao S.A. 93 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) • Bank Credit Committee – in making credit decisions within the powers and issuing recommendations on the transactions presented to the Management Board for decision, • Bank Security Committee – in the field of security and business continuity management, • Model Risk Committee – in model risk management, • Recovery Plan Committee – for supporting the process of creating, maintaining and updating the Recovery Plan prepared in accordance with applicable law. 45.2. Credit risk Credit risk is one of the basic risks associated with activities of the Group. The percentage share of credits and loans in t he Group’s statement of financial position makes the maintenance of this risk at safe level essential to the Group’s performance . The process of credit risk management is centralized and managed mainly by Risk Management Division units, situated at the Bank Head Office or in local units. Risk management process covers all credit functions – credit analysis, making credit decisions, monitoring and loan administration, as well as restructuring and collection. These functions are conducted in compliance with the Bank’s credit policy, adopted by the Bank’s Management Board and the Bank’s Supervisory Board for a given reporting year. The effectiveness and efficiency of credit functions are achieved using diverse credit methods and methodologies, supported by advanced IT tools, integrated into the Bank’s general IT system. The Bank’s procedures facilitate credit risk mitigation, in particular those related to transaction risk evaluation, to establish ing collateral, setting authorization limits for granting loans and limiting of exposure to some areas of business activity in line with current client’s segmentation scheme in the Bank. Credit granting authorizations, restrictions on crediting the specific business activities as well as internal and external prudential standards include not only credits, loans and guarantees, but also derivatives transactions and debt securities. The Bank’s lending activity is limited by the restrictions of the external regulation as well as internal prudential standards in order to increase safety. These restrictions refer in particular to credit exposure concentration, credit quality ratios and exposure limits for particular foreign countries, foreign banks and domestic financial institutions. The Bank established the following portfolio limits in the Bank’s strategy or credit risk policy: • exposure limits for sectors of economy, • limits to large exposures to client / groups of connected clients, • limits for main business lines and currency receivables, • product limits (mortgage loans to private individuals, exposures to business entities secured by mortgage, inculidng financing commercial real estate). The internal limits system operating in the Bank also includes a number of detailed limits supporting key limits set out in t he strategy and credit risk policy. Moreover, the Bank limits higher risk credit transactions, marked by excess risk by restricting the decision -making powers in such cases to higher-level decision-making bodies. The management of the Bank’s credit portfolio quality is further supported by regular reviews and continuous monitoring of timely loan repayments and the financial condition of the borrowers. Armed conflict in Ukraine In connection with Russia’s armed attack on Ukraine, which has been ongoing since 202 2, the Group identifies the following threats in the area of credit risk: • credit loss risk for exposures to entities from Russia, Belarus and Ukraine, with the Group’s exposure in this regard mostly covered by KUKE policies, • the risk that the conflict will translate into deterioration of the economic and credit conditions for the rest of the portfo lio (through the raw material price growth channel, disruption of economic relations, deterioration of consumer sentiment, etc.). As at 31 December 202 5, the Group’s balance sheet net exposure to countries involved in the conflict amounted to PLN 62 million (which represents 0.03% of the Group’s total exposure) as at 31 December 202 4 amounted to PLN 91 million (which represents 0.05% of the Group’s total exposure).
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Bank Pekao S.A. 94 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Rating models utilized in the credit risk management process For credit risk management purposes, the Group uses the internal rating models depending on the client’s segment and/or exposure type. The rating process is a significant element of credit risk assessment in relation to clients and transactions, and constitute s a preliminary stage of the credit decision-making process of granting a new credit or changing the terms and conditions of an existing credit and of the credit portfolio quality monitoring process. In the credit risk measurement the following three parameters are used: PD, LGD and EAD. PD is the probability of a client’s failure to meet its obligations and hence the violation of contract terms and conditions by the borrower within one year horizon, such default may be subject -matter or product -related. LGD indicates the estimated value of the loss to be incurred for any credit transaction from the date of occurrence of such default. EAD reflects the estimated value of credit exposure as at suc h date. The risk parameters based on the rating models are designed for calculation of the expected losses resulted from credit risk. The value of expected loss is one of the significant assessment criteria taken into consideration by the decision-making bodies in the course of the crediting process. In particular, this value is compared to the margin of requested financing. The level of minimum margins for given products or client segments is determined based upon risk analysis, taking into consideration the value of risk parameters assessed. The client and transaction rating, as well as other credit risk parameters hold a significant role in the Credit Risk Managem ent Information System. For each rating model, the credit risk reports provide information on the comparison between the realized parameters and the theoretical values for each rating class. Credit risk reports are generated on a monthly basis, with their scope varying depending upon the recipient of the report (th e higher the management level, the more aggregated the information presented). Credit risk reports are being used in the management processes. For internal purposes, within the Group the following rating models are used, developed in accordance with provisions of Regulation (EU) no 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and amending Regulation (EU) No. 648/2012, with further amendments: 1) For the retail clients, the Group uses the following models applicable for: • micro-enterprises, • private individuals, dividing clients into: o mortgage loans (secured by mortgage) o cash (consumer) and installment loans, o credit cards and renewable limits. 2) For the corporate clients, the Group uses rating models dividing clients into: • corporate clients (corporations), • small and medium enterprises (SME), • local government units. 3) For the corporate clients, Pekao Bank Hipoteczny S.A. uses the SOP rating model (Point Rating System) under the Internal Ratings Based Approach, which involves the use of supervisory classes in the process of assigning risk weights. 4) For specialized lending the Group uses a slotting criteria approach to the Internal Ratings Based Approach, which consists of the use of supervisory classes in the process of assigning risk weights. In 2022, the Group started the process of adjusting the rating scale for internal rating models in line with the rating scale applicable to external ratings - called Masterscale.
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Bank Pekao S.A. 95 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) The Masterscale is presented in the table below: CLASS RANGE OF PD DESCRIPTION AA 0% <= PD <= 0.01000% High quality Investment grade AA- 0.01000% < PD <= 0.01700% A+ 0.01700% < PD <= 0.02890% Strong payment capacity A 0.02890% < PD <= 0.04913% A- 0.04913% < PD <= 0.08352% BBB+ 0.08352% < PD <= 0.14199% Adequate payment capacity BBB 0.14199% < PD <= 0.24138% BBB- 0.24138% < PD <= 0.41034% BB+ 0.41034% < PD <= 0.69758% Likely to fulfil obligations outgoing uncertainty Speculative grade BB 0.69758% < PD <= 1.18588% BB- 1.18588% < PD <= 2.01599% B+ 2.01599% < PD <= 3.42719% High credit risk B 3.42719% < PD <= 5.82622% B- 5.82622% < PD <= 9.90458% CCC 9.90458% < PD <= 16.83778% Very high credit risk CC 16.83778% < PD <= 28.62423% Near default with possibility of recovery C 28.62423% < PD <= 100% Pekao Bank Hipoteczny S.A. uses its own rating model for corporate segment clients, called the Point Rating System (SOP). The SOP scale is presented in the table below. CLASS RANGE OF PD SOP1 0% <= PD <= 0.1% SOP2 0.1% < PD <= 0.6% SOP3 0.6% < PD <= 1.5% SOP4 1.5% < PD <= 3% SOP5 3% < PD <= 7.5% SOP6 7.5% < PD <= 20% SOP7 20% < PD <= 100% The following exposure types are not covered by internal rating models: 1) retail exposures of Pekao Bank Hipoteczny S.A., 2) retail exposures immaterial in terms of size and perceived risk profile: • overdrafts, • exposures related to the Building Society (Kasa Mieszkaniowa) unit, • other loans. 3) corporate clients: • exposures to stock exchanges and other financial intermediators, • exposures to insurance companies, • project financing, • purchased receivables, • exposures to investment funds, • exposures to leasing companies and financial holding companies, • other loans immaterial in terms of size and perceived risk profile. 4) exposures to regional governments and local authorities which are not treated as exposures to central governments, for which the number of significant counterparties is limited. Exposures not covered by internal rating models are classified into Stages in accordance with IFRS 9 using other classification criteria applied to portfolio valuation, including, among others, information about delays.
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96 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Bank Pekao S.A. The tables below present the quality of the loan portfolio. The distribution of rated portfolio for retail client segment (excluding impaired loans) RATING CLASS 31.12.2025 GROSS CARRYING AMOUNT OF ON- BALANCE SHEET EXPOSURES NOMINAL AMOUNT OF OFF- BALANCE SHEET EXPOSURES % PORTFOLIO LOANS AND ADVANCES RECEIVABLES FROM FINANCE LEASES TOTAL FINANCIAL GUARANTEES TOTAL STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) MICRO-ENTERPRISES (MASTERSCALE) AA 6 - - - 6 6 - - - 6 0.2% AA- 1 - 3 - 4 28 1 - - 29 0.5% A+ 9 - 3 - 12 68 2 - - 70 1.3% A 29 - 15 - 44 100 2 - - 102 2.3% A- 42 1 23 - 66 102 2 - - 104 2.7% BBB+ 60 - 49 - 109 101 1 - - 102 3.3% BBB 74 2 94 - 170 112 1 1 - 114 4.4% BBB- 125 2 94 2 223 133 2 - - 135 5.6% BB+ 203 5 133 1 342 153 3 - - 156 7.8% BB 352 17 342 3 714 156 5 1 - 162 13.7% BB- 438 41 753 15 1 247 142 5 - - 147 21.7% B+ 658 56 230 1 945 198 4 1 - 203 17.9% B 321 76 137 3 537 40 3 - - 43 9.0% B- 166 55 73 2 296 18 3 - - 21 4.9% CCC 58 39 33 - 130 8 1 - - 9 2.2% CC 16 29 10 - 55 2 1 - - 3 0.9% C 15 66 16 2 99 2 3 - - 5 1.6% Total 2 573 389 2 008 29 4 999 1 369 39 3 - 1 411 100.0%
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97 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Bank Pekao S.A. RATING CLASS 31.12.2025 GROSS CARRYING AMOUNT OF ON- BALANCE SHEET EXPOSURES NOMINAL AMOUNT OF OFF- BALANCE SHEET EXPOSURES % PORTFOLIO LOANS AND ADVANCES RECEIVABLES FROM FINANCE LEASES TOTAL FINANCIAL GUARANTEES TOTAL STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) PRIVATE INDIVIDUALS MORTGAGE LOANS (SECURED MORTGAGE) (MASTERSCALE) AA 1 059 14 - - 1 073 73 - - - 73 1.7% AA- 1 790 35 - - 1 825 99 - - - 99 2.8% A+ 3 436 73 - - 3 509 141 2 - - 143 5.3% A 6 764 233 - - 6 997 196 1 - - 197 10.4% A- 9 373 255 - - 9 628 190 3 - - 193 14.1% BBB+ 9 067 226 - - 9 293 179 2 - - 181 13.7% BBB 7 946 222 - - 8 168 151 1 - - 152 12.0% BBB- 8 992 302 - - 9 294 153 2 - - 155 13.7% BB+ 7 238 433 - - 7 671 143 2 - - 145 11.3% BB 3 968 469 - - 4 437 85 8 - - 93 6.6% BB- 1 514 1 099 - - 2 613 29 17 - - 46 3.8% B+ 321 1 309 - - 1 630 10 14 - - 24 2.4% B 44 646 - - 690 2 4 - - 6 1.0% B- 17 551 - - 568 - 1 - - 1 0.8% CCC - 245 - - 245 - 1 - - 1 0.4% CC - - - - - - - - - - 0.0% C - - - - - - - - - - 0.0% Total 61 529 6 112 - - 67 641 1 451 58 - - 1 509 100.0%
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98 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Bank Pekao S.A. RATING CLASS 31.12.2025 GROSS CARRYING AMOUNT OF ON- BALANCE SHEET EXPOSURES NOMINAL AMOUNT OF OFF- BALANCE SHEET EXPOSURES % PORTFOLIO LOANS AND ADVANCES RECEIVABLES FROM FINANCE LEASES TOTAL FINANCIAL GUARANTEES TOTAL STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) CASH (CONSUMER) AND INSTALLMENT LOANS (MASTERSCALE) AA 16 1 - - 17 - - - - - 0.1% AA- 22 1 - - 23 - - - - - 0.2% A+ 53 1 - - 54 - - - - - 0.4% A 119 2 - - 121 - - - - - 0.8% A- 233 3 - - 236 1 - - - 1 1.7% BBB+ 450 4 - - 454 1 - - - 1 3.2% BBB 832 6 - - 838 3 - - - 3 5.9% BBB- 1 418 11 - - 1 429 2 - - - 2 10.0% BB+ 2 105 24 - - 2 129 2 - - - 2 14.9% BB 2 245 49 - - 2 294 2 - - - 2 16.2% BB- 1 860 96 - - 1 956 4 - - - 4 13.7% B+ 1 489 179 - - 1 668 2 - - - 2 11.7% B 1 072 244 - - 1 316 1 - - - 1 9.2% B- 514 264 - - 778 - - - - - 5.5% CCC 177 205 - - 382 31 - - - 31 2.9% CC 69 208 - - 277 - - - - - 1.9% C 12 233 - - 245 - - - - - 1.7% Total 12 686 1 531 - - 14 217 49 - - - 49 100.0%
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99 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Bank Pekao S.A. RATING CLASS 31.12.2025 GROSS CARRYING AMOUNT OF ON- BALANCE SHEET EXPOSURES NOMINAL AMOUNT OF OFF- BALANCE SHEET EXPOSURES % PORTFOLIO LOANS AND ADVANCES RECEIVABLES FROM FINANCE LEASES TOTAL FINANCIAL GUARANTEES TOTAL STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) CREDIT CARDS AND RENEWABLE LIMITS (MASTERSCALE) AA 3 - - - 3 24 - - - 24 0.5% AA- 4 - - - 4 32 - - - 32 0.7% A+ 10 - - - 10 73 - - - 73 1.6% A 22 - - - 22 177 - - - 177 3.8% A- 39 - - - 39 296 - - - 296 6.4% BBB+ 71 - - - 71 700 - - - 700 14.8% BBB 122 - - - 122 982 1 - - 983 21.4% BBB- 156 - - - 156 581 - - - 581 14.2% BB+ 164 - - - 164 438 1 - - 439 11.6% BB 186 1 - - 187 317 - - - 317 9.7% BB- 189 2 - - 191 168 1 - - 169 6.9% B+ 134 6 - - 140 80 2 - - 82 4.3% B 34 43 - - 77 11 13 - - 24 1.9% B- 6 40 - - 46 2 9 - - 11 1.1% CCC 3 28 - - 31 1 4 - - 5 0.7% CC - 20 - - 20 - 1 - - 1 0.4% C - - - - - - - - - - 0.0% Total 1 143 140 - - 1 283 3 882 32 - - 3 914 100.0% Retail client segment - total 77 931 8 172 2 008 29 88 140 6 751 129 3 - 6 883
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100 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Bank Pekao S.A. RATING CLASS 31.12.2024 GROSS CARRYING AMOUNT OF ON- BALANCE SHEET EXPOSURES NOMINAL AMOUNT OF OFF- BALANCE SHEET EXPOSURES % PORTFOLIO LOANS AND ADVANCES RECEIVABLES FROM FINANCE LEASES TOTAL FINANCIAL GUARANTEES TOTAL STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) MICRO-ENTERPRISES (MASTERSCALE) AA 7 - - - 7 1 - - - 1 0.2% AA- 1 - - - 1 13 - - - 13 0.3% A+ 6 - 1 - 7 43 - - - 43 0.9% A 16 - 5 - 21 80 - - - 80 1.9% A- 36 - 35 - 71 102 - - - 102 3.3% BBB+ 58 - 97 1 156 116 - - - 116 5.2% BBB 64 - 60 1 125 123 1 - - 124 4.7% BBB- 100 2 107 1 210 130 4 - - 134 6.5% BB+ 150 7 175 1 333 145 8 2 - 155 9.3% BB 269 19 195 2 485 156 10 - - 166 12.4% BB- 389 38 362 13 802 123 8 - - 131 17.7% B+ 631 57 76 2 766 206 6 - 1 213 18.6% B 301 72 45 1 419 37 6 - - 43 8.8% B- 148 56 34 - 238 13 2 - - 15 4.8% CCC 64 39 22 - 125 7 2 - - 9 2.5% CC 17 31 10 1 59 2 1 - - 3 1.2% C 17 66 4 - 87 2 3 - - 5 1.7% Total 2 274 387 1 228 23 3 912 1 299 51 2 1 1 353 100.0%
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101 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Bank Pekao S.A. RATING CLASS 31.12.2024 GROSS CARRYING AMOUNT OF ON- BALANCE SHEET EXPOSURES NOMINAL AMOUNT OF OFF- BALANCE SHEET EXPOSURES % PORTFOLIO LOANS AND ADVANCES RECEIVABLES FROM FINANCE LEASES TOTAL FINANCIAL GUARANTEES TOTAL STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) PRIVATE INDIVIDUALS MORTGAGE LOANS (SECURED MORTGAGE) (MASTERSCALE) AA 828 13 - - 841 79 - - - 79 1.4% AA- 1 617 34 - - 1 651 111 - - - 111 2.6% A+ 3 021 73 - - 3 094 160 2 - - 162 4.8% A 6 343 236 - - 6 579 197 2 - - 199 10.0% A- 8 505 269 - - 8 774 208 1 - - 209 13.3% BBB+ 8 207 237 - - 8 444 212 3 - - 215 12.8% BBB 7 441 234 - - 7 675 175 3 - - 178 11.6% BBB- 9 007 371 - - 9 378 209 4 - - 213 14.2% BB+ 7 360 619 - - 7 979 201 6 - - 207 12.1% BB 4 033 654 - - 4 687 128 10 - - 138 7.1% BB- 1 493 1 349 - - 2 842 53 21 - - 74 4.3% B+ 319 1 579 - - 1 898 11 21 - - 32 2.9% B 57 921 - - 978 2 11 - - 13 1.5% B- 16 639 - - 655 - 2 - - 2 1.0% CCC - 301 - - 301 - 2 - - 2 0.4% CC - 1 - - 1 - - - - - 0.0% C - - - - - - - - - - 0.0% Total 58 247 7 530 - - 65 777 1 746 88 - - 1 834 100.0%
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102 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Bank Pekao S.A. RATING CLASS 31.12.2024 GROSS CARRYING AMOUNT OF ON- BALANCE SHEET EXPOSURES NOMINAL AMOUNT OF OFF- BALANCE SHEET EXPOSURES % PORTFOLIO LOANS AND ADVANCES RECEIVABLES FROM FINANCE LEASES TOTAL FINANCIAL GUARANTEES TOTAL STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) CASH (CONSUMER) LOANS (MASTERSCALE) AA 13 - - - 13 - - - - - 0.1% AA- 19 1 - - 20 - - - - - 0.2% A+ 43 1 - - 44 - - - - - 0.4% A 96 2 - - 98 - - - - - 0.8% A- 201 3 - - 204 - - - - - 1.7% BBB+ 384 4 - - 388 - - - - - 3.2% BBB 685 9 - - 694 - - - - - 5.7% BBB- 1 177 21 - - 1 198 - - - - - 9.8% BB+ 1 769 45 - - 1 814 - - - - - 14.7% BB 1 885 65 - - 1 950 - - - - - 15.8% BB- 1 561 81 - - 1 642 - - - - - 13.4% B+ 1 277 143 - - 1 420 - - - - - 11.6% B 932 192 - - 1 124 - - - - - 9.2% B- 495 212 - - 707 - - - - - 5.8% CCC 188 202 - - 390 - - - - - 3.2% CC 80 214 - - 294 - - - - - 2.4% C 15 231 - - 246 - - - - - 2.0% Total 10 820 1 426 - - 12 246 - - - - - 100.0%
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103 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Bank Pekao S.A. RATING CLASS 31.12.2024 GROSS CARRYING AMOUNT OF ON- BALANCE SHEET EXPOSURES NOMINAL AMOUNT OF OFF- BALANCE SHEET EXPOSURES % PORTFOLIO LOANS AND ADVANCES RECEIVABLES FROM FINANCE LEASES TOTAL FINANCIAL GUARANTEES TOTAL STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) CREDIT CARDS AND RENEWABLE LIMITS (MASTERSCALE) AA 2 - - - 2 19 - - - 19 0.4% AA- 3 - - - 3 25 - - - 25 0.6% A+ 8 - - - 8 63 - - - 63 1.5% A 20 - - - 20 167 - - - 167 3.9% A- 36 - - - 36 286 - - - 286 6.7% BBB+ 69 - - - 69 681 - - - 681 15.5% BBB 114 - - - 114 929 - - - 929 21.5% BBB- 140 - - - 140 513 1 - - 514 13.5% BB+ 148 - - - 148 346 - - - 346 10.2% BB 161 1 - - 162 271 1 - - 272 9.0% BB- 177 2 - - 179 193 1 - - 194 7.7% B+ 126 8 - - 134 104 4 - - 108 5.0% B 37 38 - - 75 17 14 - - 31 2.2% B- 6 38 - - 44 2 10 - - 12 1.2% CCC 2 28 - - 30 1 5 - - 6 0.7% CC - 19 - - 19 - 1 - - 1 0.4% C - - - - - - - - - - 0.0% Total 1 049 134 - - 1 183 3 617 37 - - 3 654 100.0% Retail client segment - total 72 390 9 477 1 228 23 83 118 6 662 176 2 1 6 841
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104 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Bank Pekao S.A. The distribution of rated portfolio for corporate client segment (excluding impaired loans) RATING CLASS 31.12.2025 GROSS CARRYING AMOUNT OF ON- BALANCE SHEET EXPOSURES NOMINAL AMOUNT OF OFF- BALANCE SHEET EXPOSURES % PORTFOLIO LOANS AND ADVANCES RECEIVABLES FROM FINANCE LEASES TOTAL FINANCIAL GUARANTEES TOTAL STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) CORPORATES (MASTERSCALE) AA - - - - - - - - - - 0.0% AA- - - - - - - - - - - 0.0% A+ - - 1 - 1 - - - - - 0.0% A 21 - 1 - 22 61 - - - 61 0.1% A- 92 - 24 - 116 301 - 47 - 348 0.4% BBB+ 712 49 114 - 875 2 093 15 331 8 2 447 3.1% BBB 1 034 99 286 - 1 419 3 060 187 1 252 33 4 532 5.6% BBB- 5 397 216 633 1 6 247 10 898 228 2 054 176 13 356 18.5% BB+ 6 432 360 807 - 7 599 5 278 1 279 1 388 141 8 086 14.8% BB 17 455 873 872 13 19 213 9 335 574 1 098 120 11 127 28.6% BB- 6 978 922 1 049 18 8 967 4 357 658 1 075 68 6 158 14.3% B+ 2 230 1 991 600 18 4 839 1 565 898 720 265 3 448 7.8% B 1 301 1 079 297 31 2 708 510 637 76 204 1 427 3.9% B- 302 1 027 179 29 1 537 66 373 30 119 588 2.0% CCC 423 145 47 11 626 72 17 14 30 133 0.7% CC 6 87 22 - 115 8 1 - 1 10 0.1% C 2 17 4 - 23 - - - - - 0.0% Total 42 385 6 865 4 936 121 54 307 37 604 4 867 8 085 1 165 51 721 100.0%
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105 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Bank Pekao S.A. RATING CLASS 31.12.2025 GROSS CARRYING AMOUNT OF ON- BALANCE SHEET EXPOSURES NOMINAL AMOUNT OF OFF- BALANCE SHEET EXPOSURES % PORTFOLIO LOANS AND ADVANCES RECEIVABLES FROM FINANCE LEASES TOTAL FINANCIAL GUARANTEES TOTAL STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) SME (MASTERSCALE) AA - - - - - - - - - - 0.0% AA- - - - - - 1 - - - 1 0.0% A+ 3 - 4 - 7 31 - 1 - 32 0.2% A 24 - 11 - 35 85 2 13 - 100 0.8% A- 40 2 38 - 80 98 3 22 - 123 1.2% BBB+ 190 4 112 - 306 265 2 39 1 307 3.5% BBB 276 2 159 1 438 387 4 25 - 416 4.9% BBB- 739 19 305 1 1 064 549 18 31 13 611 9.6% BB+ 993 62 506 7 1 568 657 70 65 1 793 13.4% BB 996 257 679 3 1 935 673 110 81 5 869 15.9% BB- 1 122 191 768 24 2 105 477 44 33 3 557 15.1% B+ 1 076 227 529 11 1 843 302 63 37 14 416 12.9% B 553 262 318 17 1 150 393 50 15 15 473 9.3% B- 467 295 236 13 1 011 121 63 5 3 192 6.9% CCC 100 193 138 4 435 25 27 2 10 64 2.8% CC 77 75 61 - 213 50 8 3 1 62 1.6% C 62 108 56 1 227 79 21 - - 100 1.9% Total 6 718 1 697 3 920 82 12 417 4 193 485 372 66 5 116 100.0% ENTERPRISES COVERED BY THE SOP RATING MODEL (PEKAO BANK HIPOTECZNY S.A.) SOP1 - 33 - - 33 - - - - - 66.0% SOP2 17 - - - 17 - - - - - 34.0% SOP3 - - - - - - - - - - 0.0% SOP4 - - - - - - - - - - 0.0% SOP5 - - - - - - - - - - 0.0% SOP6 - - - - - - - - - - 0.0% SOP7 - - - - - - - - - - 0.0% Total 17 33 - - 50 - - - - - 100.0% Corporate client segment - total 49 120 8 595 8 856 203 66 774 41 797 5 352 8 457 1 231 56 837
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106 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Bank Pekao S.A. RATING CLASS 31.12.2024 GROSS CARRYING AMOUNT OF ON- BALANCE SHEET EXPOSURES NOMINAL AMOUNT OF OFF- BALANCE SHEET EXPOSURES % PORTFOLIO LOANS AND ADVANCES RECEIVABLES FROM FINANCE LEASES TOTAL FINANCIAL GUARANTEES TOTAL STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) CORPORATES (MASTERSCALE) AA - - 1 - 1 - - - - - 0.0% AA- - - - - - - - - - - 0.0% A+ - - 1 - 1 - - - - - 0.0% A - - 5 - 5 - - - - - 0.0% A- 127 - 15 - 142 687 - 9 - 696 1.0% BBB+ 345 - 134 - 479 1 286 37 249 3 1 575 2.4% BBB 876 30 106 - 1 012 2 222 343 450 141 3 156 4.8% BBB- 3 512 26 407 - 3 945 6 367 95 1 647 21 8 130 14.0% BB+ 5 054 172 924 1 6 151 5 222 154 1 252 49 6 677 14.8% BB 7 713 849 938 2 9 502 6 175 115 899 46 7 235 19.3% BB- 10 053 554 800 14 11 421 4 443 50 1 012 19 5 524 19.5% B+ 2 119 376 646 34 3 175 1 844 107 330 3 2 284 6.3% B 2 534 658 243 42 3 477 2 632 662 52 23 3 369 7.9% B- 797 939 218 6 1 960 420 202 158 77 857 3.3% CCC 179 663 36 8 886 54 334 - 262 650 1.8% CC 2 737 13 12 - 2 762 1 440 3 30 - 1 473 4.9% C 9 - 3 - 12 2 - - - 2 0.0% Total 36 055 4 280 4 489 107 44 931 32 794 2 102 6 088 644 41 628 100.0%
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107 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Bank Pekao S.A. RATING CLASS 31.12.2024 GROSS CARRYING AMOUNT OF ON- BALANCE SHEET EXPOSURES NOMINAL AMOUNT OF OFF- BALANCE SHEET EXPOSURES % PORTFOLIO LOANS AND ADVANCES RECEIVABLES FROM FINANCE LEASES TOTAL FINANCIAL GUARANTEES TOTAL STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) SME (MASTERSCALE) AA - - 2 - 2 - - - - - 0.0% AA- - - - - - 3 - 1 - 4 0.0% A+ 3 - 1 - 4 10 - - - 10 0.0% A 63 - 5 - 68 71 - 4 - 75 0.5% A- 102 - 40 - 142 204 - 27 - 231 1.3% BBB+ 183 2 48 - 233 334 14 65 2 415 2.2% BBB 543 6 107 - 656 1 022 15 365 3 1 405 7.0% BBB- 641 2 243 3 889 1 042 6 75 1 1 124 6.9% BB+ 1 867 196 406 12 2 481 2 218 104 338 1 2 661 17.5% BB 1 793 168 539 3 2 503 1 597 42 146 37 1 822 14.7% BB- 1 743 523 576 19 2 861 1 613 338 475 2 2 428 18.0% B+ 2 003 543 402 9 2 957 812 58 149 6 1 025 13.6% B 689 330 328 19 1 366 307 40 16 4 367 5.9% B- 581 694 247 17 1 539 157 102 19 20 298 6.3% CCC 155 812 108 8 1 083 32 184 1 66 283 4.7% CC 91 83 46 4 224 24 13 1 1 39 0.9% C 7 73 54 1 135 1 5 - 1 7 0.5% Total 10 464 3 432 3 152 95 17 143 9 447 921 1 682 144 12 194 100.0% ENTERPRISES COVERED BY THE SOP RATING MODEL (PEKAO BANK HIPOTECZNY S.A.) SOP1 53 37 - - 90 - - - - - 35.0% SOP2 137 7 - - 144 - - - - - 56.0% SOP3 2 9 - - 11 - - - - - 4.3% SOP4 - - - - - - - - - - 0.0% SOP5 - 4 - - 4 - - - - - 1.6% SOP6 - 1 - - 1 - - - - - 0.4% SOP7 - 7 - - 7 - - - - - 2.7% Total 192 65 - - 257 - - - - - 100.0% Corporate client segment - total 46 711 7 777 7 641 202 62 331 42 241 3 023 7 770 788 53 822
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108 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Bank Pekao S.A. The distribution of rated portfolio for local government units segment (excluding impaired loans) RATING CLASS 31.12.2025 GROSS CARRYING AMOUNT OF ON- BALANCE SHEET EXPOSURES NOMINAL AMOUNT OF OFF- BALANCE SHEET EXPOSURES % PORTFOLIO LOANS AND ADVANCES RECEIVABLES FROM FINANCE LEASES TOTAL FINANCIAL GUARANTEES TOTAL STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) LOCAL GOVERNMENT UNITS (MASTERSCALE) AA - - - - - - - - - - 0.0% AA- - - - - - - - - - - 0.0% A+ - - - - - - - - - - 0.0% A - - - - - - - - - - 0.0% A- - - - - - - - 1 - 1 0.0% BBB+ 27 - - - 27 89 - - - 89 4.2% BBB 291 - - - 291 58 - 354 - 412 25.4% BBB- 24 - - - 24 121 - 4 - 125 5.4% BB+ 255 - - - 255 228 - 125 - 353 21.9% BB 138 - - - 138 263 - 305 - 568 25.4% BB- 349 - - - 349 11 - - - 11 13.0% B+ 30 - - - 30 50 - 50 - 100 4.7% B - - - - - - - - - - 0.0% B- - - - - - - - - - - 0.0% CCC - - - - - - - - - - 0.0% CC - - - - - - - - - - 0.0% C - - - - - - - - - - 0.0% Total 1 114 - - - 1 114 820 - 839 - 1 659 100.0%
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109 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Bank Pekao S.A. RATING CLASS 31.12.2024 GROSS CARRYING AMOUNT OF ON- BALANCE SHEET EXPOSURES NOMINAL AMOUNT OF OFF- BALANCE SHEET EXPOSURES % PORTFOLIO LOANS AND ADVANCES RECEIVABLES FROM FINANCE LEASES TOTAL FINANCIAL GUARANTEES TOTAL STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) LOCAL GOVERNMENT UNITS (MASTERSCALE) AA - - - - - - - - - - 0.0% AA- - - - - - - - - - - 0.0% A+ - - - - - - - - - - 0.0% A - - - - - - - - - - 0.0% A- - - - - - 3 - - - 3 0.2% BBB+ 34 - - - 34 2 - 1 - 3 2.2% BBB 57 - - - 57 38 - - - 38 5.6% BBB- 32 - - - 32 79 - - - 79 6.6% BB+ 208 - - - 208 114 - 146 - 260 27.7% BB 156 - - - 156 65 - - - 65 13.1% BB- 439 - - - 439 204 - - - 204 38.1% B+ 41 - - - 41 68 - - - 68 6.5% B - - - - - - - - - - 0.0% B- - - - - - - - - - - 0.0% CCC - - - - - - - - - - 0.0% CC - - - - - - - - - - 0.0% C - - - - - - - - - - 0.0% Total 967 - - - 967 573 - 147 - 720 100.0%
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110 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Bank Pekao S.A. The distribution of the portfolio exposure to specialized lending (excluding impaired loans) SUPERVISORY CLASS 31.12.2025 GROSS CARRYING AMOUNT OF ON- BALANCE SHEET EXPOSURES NOMINAL AMOUNT OF OFF- BALANCE SHEET EXPOSURES % PORTFOLIO LOANS AND ADVANCES RECEIVABLES FROM FINANCE LEASES TOTAL FINANCIAL GUARANTEES TOTAL STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) EXPOSURE TO SPECIALIZED LENDING High 291 - - - 291 117 - 104 - 221 2.1% Good 17 569 162 - - 17 731 4 324 9 21 15 4 369 92.3% Satisfactory 304 513 - - 817 480 1 - 34 515 5.6% Low - - - - - - - - - - 0.0% Total 18 164 675 - - 18 839 4 921 10 125 49 5 105 100.0% SUPERVISORY CLASS 31.12.2024 GROSS CARRYING AMOUNT OF ON- BALANCE SHEET EXPOSURES NOMINAL AMOUNT OF OFF- BALANCE SHEET EXPOSURES % PORTFOLIO LOANS AND ADVANCES RECEIVABLES FROM FINANCE LEASES TOTAL FINANCIAL GUARANTEES TOTAL STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) EXPOSURE TO SPECIALIZED LENDING High 295 40 - - 335 40 189 - 104 333 3.5% Good 13 530 29 - - 13 559 3 418 10 37 - 3 465 88.5% Satisfactory 322 906 - - 1 228 196 115 - 8 319 8.0% Low - - - - - - - - - - 0.0% Total 14 147 975 - - 15 122 3 654 314 37 112 4 117 100.0%
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111 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Bank Pekao S.A. Portfolio of exposures not covered by the rating model (excluding impaired loans), according to the PD used in the process of calculating of expected credit losses PD RANGE 31.12.2025 GROSS CARRYING AMOUNT OF ON- BALANCE SHEET EXPOSURES NOMINAL AMOUNT OF OFF- BALANCE SHEET EXPOSURES % PORTFOLIO LOANS AND ADVANCES RECEIVABLES FROM FINANCE LEASES TOTAL FINANCIAL GUARANTEES TOTAL STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) EXPOSURES NOT COVERED BY THE RATING MODEL 0% <= PD <= 0.01000% 83 - - - 83 42 - - - 42 0.8% 0.01000% < PD <= 0.01700% - - - - - - - - - - 0.0% 0.01700% < PD <= 0.02890% 414 - - - 414 106 - - - 106 3.2% 0.02890% < PD <= 0.04913% 2 - - - 2 - - - - - 0.0% 0.04913% < PD <= 0.08352% 369 - - - 369 21 - - - 21 2.4% 0.08352% < PD <= 0.14199% 1 073 24 - - 1 097 130 - - - 130 7.5% 0.14199% < PD <= 0.24138% 1 468 23 - - 1 491 - - - - - 9.1% 0.24138% < PD <= 0.41034% 486 15 - - 501 9 - - - 9 3.1% 0.41034% < PD <= 0.69758% 262 16 - - 278 33 - 1 104 - 1 137 8.6% 0.69758% < PD <= 1.18588% 1 840 19 - - 1 859 2 738 12 - - 2 750 28.1% 1.18588% < PD <= 2.01599% 1 712 5 - - 1 717 243 232 110 32 617 14.2% 2.01599% < PD <= 3.42719% 392 10 625 - 1 027 12 44 - - 56 6.6% 3.42719% < PD <= 5.82622% 349 9 152 - 510 606 10 68 - 684 7.3% 5.82622% < PD <= 9.90458% 337 7 - - 344 54 12 - - 66 2.5% 9.90458% < PD <= 16.83778% 709 90 - 6 805 145 21 1 - 167 5.9% 16.83778% < PD <= 28.62423% 30 13 56 5 104 - - - - - 0.6% 28.62423% < PD <= 100% 2 7 1 1 11 - - - - - 0.1% Total 9 528 238 834 12 10 612 4 139 331 1 283 32 5 785 100.0%
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112 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Bank Pekao S.A. PD RANGE 31.12.2024 GROSS CARRYING AMOUNT OF ON- BALANCE SHEET EXPOSURES NOMINAL AMOUNT OF OFF- BALANCE SHEET EXPOSURES % PORTFOLIO LOANS AND ADVANCES RECEIVABLES FROM FINANCE LEASES TOTAL FINANCIAL GUARANTEES TOTAL STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) EXPOSURES NOT COVERED BY THE RATING MODEL 0% <= PD <= 0.01000% 686 - - - 686 46 - - - 46 4.7% 0.01000% < PD <= 0.01700% - - - - - - - - - - 0.0% 0.01700% < PD <= 0.02890% 288 - - - 288 16 - - - 16 1.9% 0.02890% < PD <= 0.04913% 25 - - - 25 - - - - - 0.2% 0.04913% < PD <= 0.08352% 107 - - - 107 - - - - - 0.7% 0.08352% < PD <= 0.14199% 688 6 - - 694 - - - - - 4.4% 0.14199% < PD <= 0.24138% 1 579 65 - - 1 644 273 - - - 273 12.3% 0.24138% < PD <= 0.41034% 1 271 5 - - 1 276 1 703 - - - 1 703 19.1% 0.41034% < PD <= 0.69758% 254 7 - - 261 67 - - - 67 2.1% 0.69758% < PD <= 1.18588% 321 5 - - 326 678 - 497 - 1 175 9.6% 1.18588% < PD <= 2.01599% 1 262 10 - - 1 272 579 130 - - 709 12.7% 2.01599% < PD <= 3.42719% 379 16 1 595 - 1 990 1 120 - - 121 13.5% 3.42719% < PD <= 5.82622% 761 6 - - 767 432 11 149 - 592 8.7% 5.82622% < PD <= 9.90458% 15 80 - 1 96 4 14 - - 18 0.7% 9.90458% < PD <= 16.83778% 693 67 - 10 770 278 - 1 - 279 6.7% 16.83778% < PD <= 28.62423% 21 138 93 17 269 - 39 - - 39 2.0% 28.62423% < PD <= 100% 70 13 - 4 87 20 2 - - 22 0.7% Total 8 420 418 1 688 32 10 558 4 097 316 647 - 5 060 100.0%
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113 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Bank Pekao S.A. Portfolio of impaired exposures, broken down by delays in repayment 31.12.2025 GROSS CARRYING AMOUNT OF ON- BALANCE SHEET EXPOSURES NOMINAL AMOUNT OF OFF- BALANCE SHEET EXPOSURES % PORTFOLIO LOANS AND ADVANCES RECEIVABLES FROM FINANCE LEASES TOTAL FINANCIAL GUARANTEES TOTAL STAGE 3 (LIFETIME ECL - CREDIT-IMPAIRED) PURCHASED OR ORIGINATED CREDIT- IMPAIRED (POCI) STAGE 3 (LIFETIME ECL - CREDIT- IMPAIRED) PURCHASED OR ORIGINATED CREDIT- IMPAIRED (POCI) STAGE 3 (LIFETIME ECL - CREDIT- IMPAIRED) PURCHASED OR ORIGINATED CREDIT- IMPAIRED (POCI) STAGE 3 (LIFETIME ECL - CREDIT- IMPAIRED) PURCHASED OR ORIGINATED CREDIT- IMPAIRED (POCI) INDIVIDUAL ASSESSMEN T GROUP ASSESSMENT INDIVIDUAL ASSESSMEN T GROUP ASSESSMENT INDIVIDUAL ASSESSMENT GROUP ASSESSMENT INDIVIDUAL ASSESSMENT GROUP ASSESSMENT IMPAIRED EXPOSURES Not past due 2 185 343 520 325 555 - 3 928 356 58 3 64 7 - 488 45.0% Past due 2 057 2 652 542 29 71 - 5 351 16 9 - 21 - - 46 55.0% up to 1 month 557 218 52 5 13 - 845 - 2 - 11 - - 13 8.7% between 1 month and 3 months 66 183 28 4 4 - 285 - 4 - 8 - - 12 3.0% between 3 months and 1 year 134 469 59 7 10 - 679 10 2 - - - - 12 7.0% between 1 year and 5 years 750 886 64 3 10 - 1 713 6 1 - 2 - - 9 17.6% above 5 years 550 896 339 10 34 - 1 829 - - - - - - - 18.7% Total 4 242 2 995 1 062 354 626 - 9 279 372 67 3 85 7 - 534 100.0%
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114 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Bank Pekao S.A. Client/transaction rating and credit risk decision-making level Decision-making level connected with transaction approval is directly dependent upon the client’s rating. Decision-making entitlement limits are associated with the position held, determined in accordance with the Bank’s organizational stru cture. The limits are determined taking the following matters into consideration: • the Bank’s total exposure to a client, including the amount of the requested transaction, • type of a client, • commitments of persons and entities associated with the client. Validation of rating models The internal validation of models and risk parameter assessments is focused on the quality assessment of risk models and the accuracy and stability of parameter assessments, applied by the Bank. Validation is carried out at the level of each risk model, although the Bank may apply several models for each class of exposures. Moreover, the internal audit unit is obligated to review the Bank’s rating systems and their functionality at least once a ye ar.In particular, the internal audit unit reviews the scope of operations of credit division and estimations of risk parameters. 31.12.2024 GROSS CARRYING AMOUNT OF ON-BALANCE SHEET EXPOSURES NOMINAL AMOUNT OF OFF-BALANCE SHEET EXPOSURES % PORTFOLIO LOANS AND ADVANCES RECEIVABLES FROM FINANCE LEASES TOTAL FINANCIAL GUARANTEES TOTAL STAGE 3 (LIFETIME ECL - CREDIT-IMPAIRED) PURCHASED OR ORIGINATED CREDIT- IMPAIRED (POCI) STAGE 3 (LIFETIME ECL - CREDIT- IMPAIRED) PURCHASED OR ORIGINATED CREDIT- IMPAIRED (POCI) STAGE 3 (LIFETIME ECL - CREDIT- IMPAIRED) PURCHASED OR ORIGINATED CREDIT- IMPAIRED (POCI) STAGE 3 (LIFETIME ECL - CREDIT- IMPAIRED) PURCHASED OR ORIGINATED CREDIT- IMPAIRED (POCI) INDIVIDUAL ASSESSMEN T GROUP ASSESSMENT INDIVIDUAL ASSESSMEN T GROUP ASSESSMENT INDIVIDUAL ASSESSMENT GROUP ASSESSMENT INDIVIDUAL ASSESSMENT GROUP ASSESSMENT IMPAIRED EXPOSURES Not past due 1 598 409 369 333 402 - 3 111 426 54 4 207 5 3 699 41.4% Past due 1 586 2 815 600 67 288 - 5 356 14 14 - 16 - - 44 58.6% up to 1 month 104 254 55 15 26 - 454 4 3 - 12 - - 19 5.1% between 1 month and 3 months 54 165 17 8 27 - 271 - 2 - - - - 2 3.0% between 3 months and 1 year 430 398 23 28 75 - 954 2 5 - - - - 7 10.4% between 1 year and 5 years 480 1 215 122 11 142 - 1 970 8 4 - 4 - - 16 21.6% above 5 years 518 783 383 5 18 - 1 707 - - - - - - - 18.5% Total 3 184 3 224 969 400 690 - 8 467 440 68 4 223 5 3 743 100.0%
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115 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Bank Pekao S.A. Division of exposures to customers for covered and not covered by internal rating models (*) Loans and advances to customers measured at amortised cost and measured at fair value through other comprehensive income. PORTFOLIO 31.12.2025 ON-BALANCE SHEET EXPOSURES (*) OFF-BALANCE SHEET EXPOSURES GROSS CARRYING AMOUNT EXPECTED CREDIT LOSSES CARRYING AMONT NOMINAL AMOUNT EXPECTED CREDIT LOSSES LOANS AND ADVANCES RECEIVABLES FROM FINANCE LEASES TOTAL LOANS AND ADVANCES RECEIVABLES FROM FINANCE LEASES TOTAL FINANCIAL GUARANTEES TOTAL FINANCIAL GUARANTEES TOTAL Exposures with no impairment 173 537 11 942 185 479 (1 480) (29) (1 509) 183 970 64 250 11 974 76 224 (214) (55) (269) Rated portfolio for retail client segment 86 103 2 037 88 140 (655) (3) (658) 87 482 6 880 3 6 883 (8) - (8) Micro-enterprises (Masterscale) 2 962 2 037 4 999 (29) (3) (32) 4 967 1 408 3 1 411 (1) - (1) Individual client – mortgage loans (Masterscale) 67 641 - 67 641 (272) - (272) 67 369 1 509 - 1 509 (3) - (3) Individual client – cash (consumer) and installment loans (Masterscale) 14 217 - 14 217 (318) - (318) 13 899 49 - 49 - - - Individual client – credit cards and renewable limits (Masterscale) 1 283 - 1 283 (36) - (36) 1 247 3 914 - 3 914 (4) - (4) Rated portfolio for corporate client segment 57 715 9 059 66 774 (517) (18) (535) 66 239 47 149 9 688 56 837 (153) (50) (203) Corporates (Masterscale) 49 250 5 057 54 307 (425) (8) (433) 53 874 42 471 9 250 51 721 (142) (48) (190) SMEs (Masterscale) 8 415 4 002 12 417 (92) (10) (102) 12 315 4 678 438 5 116 (11) (2) (13) Corporate client segment - SOP rating model of Pekao Bank Hipoteczny S.A. 50 - 50 - - - 50 - - - - - - Rated portfolio for local government units segment (Masterscale) 1 114 - 1 114 (1) - (1) 1 113 820 839 1 659 - (1) (1) Specialized lending exposures 18 839 - 18 839 (254) - (254) 18 585 4 931 129 5 060 (44) (1) (45) Exposures not covered by the rating model 9 766 846 10 612 (53) (8) (61) 10 551 4 470 1 315 5 785 (9) (3) (12) Impaired exposures 8 299 980 9 279 (4 689) (195) (4 884) 4 395 442 92 534 (44) (35) (79) Total 181 836 12 922 194 758 (6 169) (224) (6 393) 188 365 64 692 12 066 76 758 (258) (90) (348)
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116 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Bank Pekao S.A. (*) Loans and advances to customers measured at amortised cost and measured at fair value through other comprehensive income. PORTFOLIO 31.12.2024 ON-BALANCE SHEET EXPOSURES (*) OFF-BALANCE SHEET EXPOSURES GROSS CARRYING AMOUNT EXPECTED CREDIT LOSSES CARRYING AMONT NOMINAL AMOUNT EXPECTED CREDIT LOSSES LOANS AND ADVANCES RECEIVABLES FROM FINANCE LEASES TOTAL LOANS AND ADVANCES RECEIVABLES FROM FINANCE LEASES TOTAL FINANCIAL GUARANTEES TOTAL FINANCIAL GUARANTEES TOTAL Exposures with no impairment 161 282 10 814 172 096 (1 548) (26) (1 574) 170 522 61 056 9 504 70 560 (192) (46) (238) Rated portfolio for retail client segment 81 867 1 251 83 118 (789) (3) (792) 82 326 6 838 3 6 841 (10) - (10) Micro-enterprises (Masterscale) 2 661 1 251 3 912 (31) (3) (34) 3 878 1 350 3 1 353 (1) - (1) Individual client – mortgage loans (Masterscale) 65 777 - 65 777 (402) - (402) 65 375 1 834 - 1 834 (5) - (5) Individual client – cash (consumer) loans (Masterscale) 12 246 - 12 246 (311) - (311) 11 935 - - - - - - Individual client – credit cards and renewable limits (Masterscale) 1 183 - 1 183 (45) - (45) 1 138 3 654 - 3 654 (4) - (4) Rated portfolio for corporate client segment 54 488 7 843 62 331 (494) (18) (512) 61 819 45 264 8 558 53 822 (126) (38) (164) Corporates (Masterscale) 40 335 4 596 44 931 (285) (8) (293) 44 638 34 896 6 732 41 628 (82) (27) (109) SMEs (Masterscale) 13 896 3 247 17 143 (208) (10) (218) 16 925 10 368 1 826 12 194 (44) (11) (55) Corporate client segment - SOP rating model of Pekao Bank Hipoteczny S.A. 257 - 257 (1) - (1) 256 - - - - - - Rated portfolio for local government units segment (Masterscale) 967 - 967 (1) - (1) 966 573 147 720 - - - Specialized lending exposures 15 122 - 15 122 (204) - (204) 14 918 3 968 149 4 117 (41) (4) (45) Exposures not covered by the rating model 8 838 1 720 10 558 (60) (5) (65) 10 493 4 413 647 5 060 (15) (4) (19) Impaired exposures 7 377 1 090 8 467 (4 058) (269) (4 327) 4 140 512 231 743 (155) (84) (239) Total 168 659 11 904 180 563 (5 606) (295) (5 901) 174 662 61 568 9 735 71 303 (347) (130) (477)
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Bank Pekao S.A. 117 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Classification of loans and advances to banks according to Fitch ratings (*) 31.12.2025 CARRYING AMOUNT STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 3 (LIFETIME ECL - CREDIT- IMPAIRED) PURCHASED OR ORIGINATED CREDIT- IMPAIRED (POCI) TOTAL %PORTFOLIO INDIVIDUAL ASSESSMENT GROUP ASSESSMENT LOANS AND ADVANCES TO BANKS MEASURED AT AMORTISED COST AAA - - - - - - AA+ to AA- 286 - - - 286 18.6% A+ to A- 570 - - - - 570 37.1% BBB+ to BBB- 8 - - - - 8 0.5% BB+ to BB- 1 - - - - 1 0.1% B+ to B- - - - - - - - No rating 633 - 38 - - 671 43.7% Total gross carrying amount 1 498 - 38 - - 1 536 100.0% Allowances for expected credit losses - - - - - - Total net carrying amount 1 498 - 38 - - 1 536 31.12.2024 CARRYING AMOUNT STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 3 (LIFETIME ECL - CREDIT- IMPAIRED) PURCHASED OR ORIGINATED CREDIT- IMPAIRED (POCI) TOTAL %PORTFOLIO INDIVIDUAL ASSESSMENT GROUP ASSESSMENT LOANS AND ADVANCES TO BANKS MEASURED AT AMORTISED COST AAA 3 - - - - 3 0.1% AA+ to AA- 101 - - - - 101 4.2% A+ to A- 1 730 - - - - 1 730 71.9% BBB+ to BBB- 229 - - - - 229 9.5% BB+ to BB- 1 - - - - 1 0.0% B+ to B- 13 - - - - 13 0.5% No rating 283 - 48 - - 331 13.8% Total gross carrying amount 2 360 - 48 - - 2 408 100.0% Allowances for expected credit losses - - - - - - Total net carrying amount 2 360 - 48 - - 2 408 (*) Applies to receivables from banks presented in the statement of financial position in the items ‘Cash and cash equivalents’ and ‘Loans and advances to banks’.
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Bank Pekao S.A. 118 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Classification of exposures to debt securities according to Fitch ratings (*) 31.12.2025 CARRYING AMOUNT STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 3 (LIFETIME ECL - CREDIT-IMPAIRED) PURCHASED OR ORIGINATED CREDIT- IMPAIRED (POCI) TOTAL %PORTFOLIO INDIVIDUAL ASSESSMENT GROUP ASSESSMENT DEBT SECURITIES MEASURED AT AMORTISED COST AAA 17 348 - - - - 17 348 16.5% AA+ to AA- 2 986 - - - - 2 986 2.8% A+ to A- 72 123 - - - - 72 123 68.4% BBB+ to BBB- 1 003 2 - - - 1 005 1.0% BB+ to BB- 424 - - - - 424 0.4% No rating, of which: 11 324 58 - - 56 11 438 10.9% NBP bills 38 - - - - 38 0.0% Gross carrying amount 105 208 60 - - 56 105 324 100.0% Allowances for expected credit losses (78) (2) - - (39) (119) Carrying amount 105 130 58 - - 17 105 205 DEBT SECURITIES MEASURED AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME AAA 289 - - - - 289 1.1% A+ to A- 11 410 - - - - 11 410 41.6% BBB+ to BBB- 254 - - - - 254 0.9% BB+ to BB- 36 - - - - 36 0.1% No rating, of which: 15 412 26 - - - 15 438 56.3% NBP bills 11 994 - - - - 11 994 43.7% Carrying amount 27 401 26 - - - 27 427 100.0% Allowances for expected credit losses (**) (20) (1) - - - (21) DEBT SECURITIES HELD FOR TRADING AAA 184 7.5% AA+ to AA- - - A+ to A- 2 190 89.5% BBB+ to BBB- 8 0.3% No rating 65 2.7% Carrying amount 2 447 100.0% (*) Debt securities presented in the statement of financial position under ‘Securities’ and ‘Assets pledged as security for liabilities’ (**) The allowance for expected credit losses for debt securities measured at fair value through other comprehensive income is included in the ‘Revaluation reserve’ item and does not reduce the carrying amount.
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Bank Pekao S.A. 119 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Classification of exposures to debt securities according to Fitch ratings (*) 31.12.2024 CARRYING AMOUNT STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 3 (LIFETIME ECL - CREDIT-IMPAIRED) PURCHASED OR ORIGINATED CREDIT- IMPAIRED (POCI) TOTAL %PORTFOLIO INDIVIDUAL ASSESSMENT GROUP ASSESSMENT DEBT SECURITIES MEASURED AT AMORTISED COST AAA 11 936 - - - - 11 936 10.3% AA+ to AA- 8 241 - - - - 8 241 7.1% A+ to A- 57 879 - - - - 57 879 50.1% BBB+ to BBB- 626 - - - - 626 0.5% BB+ to BB- 635 - - - - 635 0.5% No rating, of which: 36 180 141 - - 64 36 385 31.5% NBP bills 25 060 - - - - 25 060 21.7% Gross carrying amount 115 497 141 - - 64 115 702 100.0% Allowances for expected credit losses (71) (4) - - (43) (118) Carrying amount 115 426 137 - - 21 115 584 DEBT SECURITIES MEASURED AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME AAA 277 - - - - 277 2.0% A+ to A- 9 018 - - - - 9 018 64.4% BBB+ to BBB- 415 - - - - 415 3.0% BB+ to BB- 204 - - - - 204 1.5% No rating, of which: 4 063 14 - - - 4 077 29.1% NBP bills 1 000 - - - - 1 000 7.1% Carrying amount 13 977 14 - - - 13 991 100.0% Allowances for expected credit losses (**) (15) (1) - - - (16) DEBT SECURITIES HELD FOR TRADING AAA 27 1.9% AA+ to AA- 20 1.4% A+ to A- 1 324 94.0% BBB+ to BBB- 1 0.1% No rating 37 2.6% Carrying amount 1 409 100.0% (*) Debt securities presented in the statement of financial position under ‘Securities’ and ‘Assets pledged as security for liabilities’. (**) The allowance for expected credit losses for debt securities measured at fair value through other comprehensive income is included in the ‘Revaluation reserve’ item and does not reduce the carrying amount. Classification of exposures to derivative financial instruments according to Fitch ratings 31.12.2025 DERIVATIVES HELD FOR TRANDING HEDGING DERIVATIVES TOTAL %PORTFOLIO BANKS OTHER FINANCIAL INSTITUTIONS NON- FINANCIAL ENTITIES BANKS OTHER FINANCIAL INSTITUTIONS NON- FINANCIAL ENTITIES AAA - 1 274 - - 587 - 1 861 29.9% AA+ to AA- 62 1 262 - - 370 - 1 694 27.2% A+ to A- 1 694 55 - 269 - - 2 018 32.3% BBB+ to BBB- - - 91 - - 7 98 1.6% BB+ to BB- - - - - - - - - B+ to B- - - - - - - - - No rating 149 80 334 - - - 563 9.0% Total 1 905 2 671 425 269 957 7 6 234 100.0%
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Bank Pekao S.A. 120 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Classification of exposures to derivative financial instruments according to Fitch ratings 31.12.2024 DERIVATIVES HELD FOR TRANDING HEDGING DERIVATIVES TOTAL %PORTFOLIO BANKS OTHER FINANCIAL INSTITUTIONS NON- FINANCIAL ENTITIES BANKS OTHER FINANCIAL INSTITUTIONS NON- FINANCIAL ENTITIES AAA - 1 538 - - 260 - 1 798 38.5% AA+ to AA- 90 849 - - 77 - 1 016 21.8% A+ to A- 1 322 40 - 110 - - 1 472 31.5% BBB+ to BBB- 5 - 34 - - - 39 0.8% BB+ to BB- 1 - - - - - 1 - B+ to B- - - - - - - - - No rating 72 43 228 1 - - 344 7.4% Total 1 490 2 470 262 111 337 - 4 670 100.0% The description of the model for impairment allowance The Group has recognized impairment allowance in accordance with the IRFS 9. IFRS 9 assumes the calculation of impairment losses based on expected credit losses and taking into account forecasts and expected future economic conditions in the context of credit risk exposure assessment. Expected credit loss model Expected credit loss model applies to financial assets classified, in accordance with the IFRS 9, as financial assets at amortised cost or at fair value through other comprehensive income, with the exception of equity instruments (except for equity instruments), as well as off-balance sheet commitments. Expected credit loss model in accordance with IFRS 9 is based on the allocation of exposure to one of the three stages, depending on credit quality changes compared to the initial recognition of assets in the accounting records. How to calculate the impairment loss depends on the stage. STAGE CLASSIFICATION CRITERION TO THE STAGE THE METHOD OF CALCULATING THE IMPAIRMENT ALLOWANCE Stage 1 Exposures for which no significant increase in credit risk has been identified since the initial recognition until the balance sheet date and no impairment was identified 12-month expected credit losses Stage 2 Exposures for which a significant increase in credit risk has been identified since the initial recognition until the balance sheet date and no impairment was identified Lifetime expected credit losses Stage 3 Exposures for which impairment has been identified In addition, financial assets that were classified as POCI at the time of initial recognition are treated as POCI (i.e. purch ased or originated credit-impaired) in all subsequent periods until they are derecognised. This rule applies even if, in the meantime, the asset has been healed. In other words, assets once recognized as POCI remain in this status regardless of future changes in estimates of their cash flows. In the case of instruments with the POCI status, life-time expected credit losses are recognized throughout the lifetime of these instruments. Calculation of expected credit losses For the purpose of calculating the credit loss in accordance with IFRS 9, the Group compares cash flows that it should receive pursuant to the agreement with the borrower and flows estimated by the Group that it expects to receive. The difference is discounted using the effective interest rate. Expected credit losses are determined in the contractual maturity period with the exception of products meeting the criteria of IFRS 9 para. 5.5.20, for which the Group determines the expected losses in the period in which it is exposed to credit risk (i.e. in the economic maturity).
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Bank Pekao S.A. 121 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Methodology for calculating group parameters - PD, RR and EAD. The lifetime ECL calculation requires the use of long-term risk parameters. Multi-year PD parameters are an assessment of the probability of a default event in the next annual intervals in the lifetime horizon. The long -term PD curve for a given exposure depends on the current value of the 12M PD parameter (and the appropriate rating class) determined based on the internal PD models of the Group. In the estimation, the Group: • estimates unbiased PD parameters without taking into account additional margins of conservatism (IFRS 9, paragraph 5.5.17 (a)), • takes into account current and forecasted macroeconomic conditions (IFRS 9, paragraph 5.5.17 (c)). The calculation of expected recovery rates (RR) is based on the ‘pool’ model, in which, within homogeneous groups, average monthly recoveries are calculated conditionally against the months since default (MSD). Homogeneous groups of accounts were separated on the basis of the following characteristics: • the type of a borrower, • product type, • ranges of the LTV parameter (for mortgages and housing loans) or credit amount (for chosen products). As part of defined homogeneous groups, average monthly recovery rates are calculated, which consist of repayments and recoveries resulting from both the secured part and the unsecured exposure, weighted by the value of outstanding capital observed at the beginning of a given MSD. For products for which a repayment schedule is available, the Group sets the exposure value at the moment of default (EAD, Exposure at Default) and principal at the moment of default (PAD, Principal at Default) in the lifetime (ie for future repayments) based on contractual payment schedules and taking into account the following effects: • the effect of arrears on principal and interest installments related to the expected non-payment of the last installments prior to the occurrence of the default, • the effect of arrears of payments (principal and interest) on the date of calculation of the provision, • the effect of settlement of the EIR adjustment over time. For products for which a repayment schedule is not available, the Group sets the long -term EAD and PAD using the CCF (Credit Conversion Factor) and parameters . CCF parameters vary depending on the portfolio and the time horizon of EAD / PAD estimation. For exposures for which it is not possible to determine risk parameters based on internal models, the Group adopts an approach based on using parameters from other portfolios with similar characteristics. The models and parameters used to calculate impairment allowance are periodically validated. Changes in the methodology of calculation an expected credit losses introduced in 2025 The Group has not materially changed its approach to the calculation of impairment allowances in 202 5. In particular, it has not, compared to the end of 202 4, made significant changes to its portfolio quality forecasting and continues to use trend analysis for retail portfolios and quantitative/expert analysis for other portfolios. However, a number of point modifications have been made. As part of the development of methods for calculating expected credit losses, the Group implemented a common default detection tool in place of the previously used cross -company default contagion, which, among other things, determines a consistent count of days past due at the Group level. In addition, the quarantine periods after the events of default conditions were harmonized, which resulted in their extension in Subsidiaries. These changes resulted in an increase in impaired assets of PLN 178 million at the Group level and did not significantly impact the net allowances for expected credit losses. In addition, as part of the development of the expected credit loss calculation methodologies, the time series of the definit ion of default was retrospectively recalculated in accordance with the EBA/GL/2016/07 Guidelines for historical periods. A more accurate approximation was used in place of the simplifications used in the data (in particular in restructuring area ). This allowed a more consistent time series to be used to model the credit risk parameters used to calculate expected credit losses.
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Bank Pekao S.A. 122 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Additionally, in 2025, there were several cases of significant customers who were identified as defaulted. In total, the changes described above mostly compensated each other without significantly affecting the cost of allowances for expected credit losses. Sensitivity analysis of ECL in established changes of PD and RR/LGD parameters The tables below present the results of the ECL sensitivity analysis for the assumed changes in PD and RR/LGD parameters carried out separately for exposures subject to individual and group analysis. For the exposures included in the Bank analysis, the PD and recovery rate (1-RR=LGD) increase and decrease by 1% and 5% scenario were presented compared to the values used to calculate the expected credit loss as of date 31 December 2025 and 31 December 2024. For the exposures analysed individually, the estimated impact is presented as a reduction of recoveries from collaterals included in the debt collection scenario by 10%. Changes in impairment allowances level (ECL) in different scenarios of changing the influencing parameters for the calculation of write-offs. 31.12.2025 DELTA PARAMETER SCENARIO GROUP ANALYSIS INDIVIDUAL ANALYSIS PD CHANGE RECOVERY RATE CHANGE (1-LGD) DEBT COLLECTION CHANGE -10.0% N/A N/A 50.0 -5.0% (77.7) 182.7 N/A -1.0% (15.6) 36.5 N/A 1.0% 16.1 (36.5) N/A 5.0% 76.0 (182.7) N/A 31.12.2024 DELTA PARAMETER SCENARIO GROUP ANALYSIS INDIVIDUAL ANALYSIS PD CHANGE RECOVERY RATE CHANGE (1-LGD) DEBT COLLECTION CHANGE -10.0% N/A N/A 56.3 -5.0% (72.6) 185.6 N/A -1.0% (14.8) 37.1 N/A 1.0% 13.9 (37.1) N/A 5.0% 76.6 (185.6) N/A Exposures with low credit risk According to par. 5.5.10 IFRS 9 exposures that are considered as low risk credit exposures at the reporting date may remain in Stage 1, regardless of the scale of the relative credit deterioration from the initial recognition. According to par. B.5.5.22 of IFRS 9, the credit risk of a financial instrument is considered low when: • the financial instrument has a low risk of default, • the borrower has a strong capacity to meet its contractual cash flow obligations in the near term, • adverse changes in the economic and business conditions in the long term may, but will not necessarily, reduce the ability of the borrower to fulfil its contractual cash flow obligations. The Group applies a low credit risk criterion for three portfolios: exposures to banks, exposures to local government units a nd exposures to the State Treasury and the National Bank of Poland. Classification criteria to Stage 2 Financial assets for which at the balance sheet date the Group will identify a significant increase in credit risk from the i nitial recognition are classified in Stage 2. The Group recognizes that for a given asset a significant increase in credit risk has been identified if a quantitative or qualitative criterion is met, in particular if contractual payments are more than 30 days pas t due, where the occurrence of a given criterion is verified at the exposure level.
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Bank Pekao S.A. 123 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Quantitative criteria Taking into account the requirements of the standard, the Group defined two basic characteristics of the quantitative model: • the measure on the basis of which risk change assessment is made, • the materiality threshold of the measure, above which the Group recognizes that there has been a significant increase in credit risk. The measure, on the basis of which risk change assessment is made, was set by the Group as the ratio of the annual average: • current credit risk assessment defined as lifetime PD in the horizon from the reporting date to the maturity date determined on the basis of the characteristics effective as at the reporting date, • the original credit risk assessment defined as lifetime PD in the period from the reporting date to the maturity date determined on the basis of the characteristics applicable as at the date of initial recognition. The assessment of significance of credit risk deterioration is carried out by comparing the observed measure with the threshold above which the Group considers that a significant deterioration in credit risk occurred. This threshold is 2 increased by the mark-up. The calibration of the mark-up is done separately for each homogeneous group of portfolios modelled to correspond to the Group's risk appetite in the period at the time of origination the transaction. The absolute quantitative criterion for classification Stage 2 is the value of one -year PD determined using scoring / rating models above the level of 25%. This criterion results from the fact that the Group granting loans does not accept the risk higher than approximately 10%. A 25% PD therefore by definition means a significant increase in credit risk. The Group additionally applies benchmarking of the level of loans classified in Stage 2 based on NBP data and the average long-term DR (default rate) of a given portfolio. If the share of Stage 2 in the Bank is lower than the long -term average for the polish banking sector in a given portfolio (or t hree times DR), then the Bank classifies exposures into the Stage 2 until the average is reached, where the credits are moved in the order corresponding to their distance from Stage 2 in based on the other 2 criteria mentioned before. Each of the three criteria described is applied separately. The tables below present the arithmetic average (*) values of the risk change measure as at 31 December 202 5 and 31 December 202 4 determined for the most significant portfolios covered by the quantitative model. Gross carrying amount used to determine the average increase in risk is limited to PLN 2 million at the loan level for cash loans, mortgage loans a nd loans to SME. For non -retail clients, the measure is weighted by the gross carrying amount, limited to PLN 20 million at the loan level. PORTFOLIO AVERAGE MEASURE OF THE INCREASE RISK 31.12.2025 STAGE 1 STAGE 2 Cash loans 0.9 3.1 Mortgages 0.8 2.7 SME Loans 0.5 1.8 Loans to other enterprises 0.4 1.0 PORTFOLIO AVERAGE MEASURE OF THE INCREASE RISK 31.12.2024 STAGE 1 STAGE 2 Cash loans 0.8 2.8 Mortgages 0.8 3.1 SME Loans 0.5 1.8 Loans to other enterprises 0.4 0.9 (*) The measure on the basis of which the risk change is assessed is determined by the Bank as the ratio weighted with the gross carrying amount of: • current credit risk assessment defined as lifetime PD in the horizon from the reporting date to the maturity date, determined on the basis of the characteristics applicable as at the reporting date, • original credit risk assessment defined as lifetime PD in the period from the reporting date to the maturity date, determined on the basis of the characteristics valid at the date of initial recognition. Qualitative criteria As a result of the monitoring process carried out by the Group, the qualitative criteria for the allocation to Stage 2 are identified, such as: • the amount of arrears simultaneously above the set materiality threshold (PLN 400 for retail exposures and PLN 2 000 for non-retail exposures) and the relative threshold of 1% for over 30 days up to 90 days inclusive , • a delay in repayment over 90 days, below thresholds of materiality, • occurrence of forbearance status, • exposure is on the Watchlist.
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Bank Pekao S.A. 124 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) In addition to the above, for individual monitoring the Group has defined a number of specific quality criteria for various t ypes of portfolios, such as, inter alia, changes in the internal rating, changes in supervisory classes for selected segments ( e.g. specialized financing), warning signals identified in the monitoring system and credit risk management or the results of individual monitoring. Classification criteria to Stage 3 Financial assets for which at the balance sheet date the Group has identified occurrences of the default event are classified in Stage 3. The Group recognizes that for a given asset a default was identified if at least one of the following occurred: • amount of arrears simultaneously above the set materiality threshold (PLN 400 for retail exposures and PLN 2 000 for non-retail exposures) and the relative threshold of 1% for over 90 days, • exposure during the restructuring process, • other qualitative impairment trigger. For SME and corporate segments, default is identified at the customer level, whereas for the retail segment at the customer/product group level. The criterion of days and amounts of delays is also defined at the level of identification. The Group applies a six-month quarantine period effective from the moment all defaults cease to exist. Forecast of risk parameters Based on significant inertia of retail portfolios, a trend analysis of historical default rates have been applied. Based on the history of realized default rates for portfolios of retail exposures, trends were estimated, which were then used for future projections. For non-retail portfolios projections are based on expert judgment of the economic conditions applied to the long term average through the cycle parameters. The analysis for non -retail portfolios consists of the following steps: an expert evaluation of the forecasted economic conditions based on Group’s projections and studies carried out by the Central Statistical Office in Poland (GUS), translation of this evaluation onto quantitative measure at the scale 0 -100% indicating the phase of the economic cycle (e.g. 75% represents situation where in the past 75% of observation situation is better and in 25% is worse), finally getting the corresponding quantile of the historical default rates and use of it as the forecast for first year. For the second year forecast assumes the linear convergence to average through the cycle parameters which is assumed to take place in the fifth year (which mirrors few years long credit cycles). Tables below show 12 -month PD forecasts used in the calculation of expected credit losses in baseline scenario. For retail portfolios the parameters are weighted with the gross carrying amount limited to PLN 2 million at the loan level and at the customer level for SME loans. For non -retail, the parameters are weighted with the gross carrying amount limited to PLN 20 million at the client level. PORTFOLIO 31.12.2025 HISTORICAL MEDIAN BASE PD FORECAST Cash loans 3.2% 3.4% Mortgages 0.4% 0.7% SME loans 3.7% 4.6% Loans to other enterprises 1.7% 2.9% PORTFOLIO 31.12.2024 HISTORICAL MEDIAN BASE PD FORECAST Cash loans 3.3% 3.9% Mortgages 0.5% 1.0% SME loans 3.7% 4.5% Loans to other enterprises 1.6% 2.9%
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Bank Pekao S.A. 125 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) Scenarios definition The PD parameters presented in the previous section refer to a baseline scenario for the development of portfolio quality. They reflect the assumption of an exit from the economic downturn with continued elevated inflation and interest rates (GDP growth of 3.5%, average annual inflation of around 3.6% and year -end WIBOR 3M of 4. 0%). The assumptions for the remaining scenarios and the weights assigned to them are presented below. In the applied approach the Group used 3 scenario of evolution of quality of the portfolio: baseline (presented above), upward (assuming positive change in the credit quality of the portfolio in the next years compared to the baseline) and downward (assuming negative change in the credit quality of the portfolio in the next years compared to the baseline). The Group assigned to the baseline scenario a probability of occurrence of 60%, upward of 5% and downward of 35% - the scenario weights did not change. The share of the negative scenario reflects the Group's expert assessment of the uncertainties facing the Polish economy. On the one hand, there is an economic rebound visible in GDP growth. On the other hand, the economic slowdown of the recent period was one of the strongest in the last 15 years excluding the COVID-19 period based on both macroeconomic data (GDP, inflation, producer inflation, interest rates) and economic surveys (CSO, NBP, PMI). In addition, there are also geopolitical risks that may negatively affect Poland's economic situation. The diversified nature of the observed threats and the breakdown of the dependencies between the parameters of the quality of the loan portfolio and the macroeconomic variables means that it is impossible to formulate scenarios in the form of extreme changes in macroeconomic factors. Therefore, the Group applied an alternative approach in which the PD change scenarios are determined based on the historical variability of the DR. The downward scenario is assigned values corresponding to the high past observa tions, and similarly to the upward scenario, the values corresponding to the low past observations are assigned. This translates into the following 12-month PD forecasts. PORTFOLIO 31.12.2025 UPWARD SCENARIO DOWNWARD SCENARIO Cash loans 1.4% 6.5% Mortgages 0.3% 1.4% SME Loans 3.1% 5.2% Loans to other enterprises 1.3% 4.2% PORTFOLIO 31.12.2024 UPWARD SCENARIO DOWNWARD SCENARIO Cash loans 2.3% 6.2% Mortgages 0.6% 1.6% SME Loans 3.1% 5.2% Loans to other enterprises 1.2% 4.2% The Group also carried out analysis confirming the lack of dependence of the recovery rates for non -performing exposures (RR parameter) on the economic situation. Therefore, the same recovery rates are assumed in each of the scenarios. The subsidiaries of the Bank determine expected credit losses according to IFRS 9. Due to their characteristics and portfolio s the scenarios used in the calculation of expected credit losses is not fully aligned. Sensitivity analysis regarding the forecast of the macroeconomic situation The Group estimates probability weighted expected credit losses taking into account 3 macro -economic scenarios: • baseline (occurring with a probability of 60%), • upward (occurring with a probability of 5%), • downward (occurring with a probability of 35%).
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Bank Pekao S.A. 126 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) The changes in expected credit losses presented in the table below for exposures without impairment were designated as the difference between the expected credit losses calculated for a specific macroeconomic scenario and expected credit losses calculated taking into account all scenarios macroeconomic factors weighted with the probability of their realization (in accordance with IFRS 9). 31.12.2025 BASLINE SCENARIO UPWARD SCENARIO DOWNWARD SCENARIO Changes in expected credit losses for exposures without impairment (Stages 1 and 2) assuming 100% implementation of the scenario (228) (944) 586 31.12.2024 BASLINE SCENARIO UPWARD SCENARIO DOWNWARD SCENARIO Changes in expected credit losses for exposures without impairment (Stages 1 and 2) assuming 100% implementation of the scenario (209) (844) 495 The tables below present the level of allowances for expected credit losses gross carrying amount of financial assets not measured at fair value through profit or loss by class of financial assets and the level of provisions for undrawn credit facilities and guarantees issued and the nominal value of off-balance sheet commitments granted. 31.12.2025 STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 3 (LIFETIME ECL - CREDIT-IMPAIRED) PURCHASED OR ORIGINATED CREDIT- IMPAIRED (POCI) TOTAL INDIVIDUAL ASSESSMENT GROUP ASSESSMENT LOANS AND ADVANCES TO BANKS AND CENTRAL BANKS MEASURED AT AMORTISED COST (*) Gross carrying amount 7 902 - 38 - - 7 940 Allowances for expected credit losses (4) - - - - (4) Carrying amount 7 898 - 38 - - 7 936 LOANS AND ADVANCES TO CUSTOMERS MEASURED AT AMORTISED COST Gross carrying amount 167 553 17 925 4 454 3 622 1 062 194 616 Allowances for expected credit losses (721) (788) (2 503) (2 225) (119) (6 356) Carrying amount 166 832 17 137 1 951 1 397 943 188 260 LOANS AND ADVANCES TO CUSTOMERS MEASURED AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME (**) Gross carrying amount - - 143 - - 143 Allowances for expected credit losses - - (36) - - (36) DEBT SECURITIES MEASURED AT AMORTISED COST Gross carrying amount 105 208 60 - - 56 105 324 Allowances for expected credit losses (78) (2) - - (39) (119) Carrying amount 105 130 58 - - 17 105 205 DEBT SECURITIES MEASURED AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME (**) Gross carrying amount 27 401 26 - - - 27 427 Allowances for expected credit losses (20) (1) - - - (21) OFF-BALANCE SHEET COMMITMENTS Nominal value of financial commitments 58 834 5 822 375 65 2 65 098 Provisions for financial commitments (121) (97) (36) (13) (2) (269) Nominal value of guarantees given 12 237 1 336 86 7 - 13 666 Provisions for guarantees given (18) (33) (23) (7) - (81) (*) Applies to loans and advances to banks and the Central Bank presented in the statement of financial position in the items ‘Cash and cash equivalents’ and ‘Loans and advances to banks’. (**) Allowances for expected credit losses related to loans and advances to customers measured at fair value through other compreh ensive income and debt securities measured at fair value through other comprehensive income is included in the item ‘Revaluation reserves’ and does not reduce their carrying amount.
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Bank Pekao S.A. 127 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) 31.12.2024 STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 3 (LIFETIME ECL - CREDIT-IMPAIRED) PURCHASED OR ORIGINATED CREDIT- IMPAIRED (POCI) TOTAL INDIVIDUAL ASSESSMENT GROUP ASSESSMENT LOANS AND ADVANCES TO BANKS AND CENTRAL BANKS MEASURED AT AMORTISED COST (*) Gross carrying amount 9 937 - 48 - - 9 985 Allowances for expected credit losses (5) - - - - (5) Carrying amount 9 932 - 48 - - 9 980 LOANS AND ADVANCES TO CUSTOMERS MEASURED AT AMORTISED COST Gross carrying amount 152 945 18 904 3 584 3 914 969 180 316 Allowances for expected credit losses (640) (930) (1 752) (2 413) (163) (5 898) Carrying amount 152 305 17 974 1 832 1 501 806 174 418 LOANS AND ADVANCES TO CUSTOMERS MEASURED AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME (**) Gross carrying amount 247 - - - - 247 Allowances for expected credit losses (3) - - - - (3) DEBT SECURITIES MEASURED AT AMORTISED COST Gross carrying amount 115 498 141 - - 63 115 702 Allowances for expected credit losses (71) (4) - - (43) (118) Carrying amount 115 427 137 - - 20 115 584 DEBT SECURITIES MEASURED AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME (**) Gross carrying amount 13 977 14 - - - 13 991 Allowances for expected credit losses (17) - - - - (17) OFF-BALANCE SHEET COMMITMENTS Nominal value of financial commitments 57 804 3 831 443 66 5 62 149 Provisions for financial commitments (104) (88) (138) (15) (3) (348) Nominal value of guarantees given 9 644 969 223 5 4 10 845 Provisions for guarantees given (16) (28) (81) (3) (1) (129) (*) Applies to loans and advances to banks and the Central Bank presented in the statement of financial position in the items ‘Cash and cash equivalents’ and ‘Loans and advances to banks’. (**) Allowances for expected credit losses related to loans and advances to customers measured at fair value through other comprehensive income and debt securities measured at fair value through other comprehensive income is included in the item ‘Revaluation reserves’ and does not reduce their carrying amount.
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Bank Pekao S.A. 128 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) The tables below present the changes in allowances for expected credit losses and gross carrying amount of financial assets not measured at fair value through profit or loss by classes of financial assets. LOANS AND ADVANCES TO BANKS AND CENTRAL BANKS MEASURED AT AMORTISED COST (*) STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 3 (LIFETIME ECL - CREDIT-IMPAIRED) PURCHASED OR ORIGINATED CREDIT- IMPAIRED (POCI) TOTAL INDIVIDUAL ASSESSMENT GROUP ASSESSMENT GROSS CARRYING AMOUNT GROSS CARRYING AMOUNT AS AT 1.01.2025 9 937 - 48 - - 9 985 Transfer to Stage 1 - - - - - - Transfer to Stage 2 - - - - - - Transfer to Stage 3 - - - - - - New / purchased / granted financial assets 3 548 - - - - 3 548 Financial assets derecognised, other than write-offs (repayments) (5 603) - (9) - - (5 612) Financial assets written off Other, in this changes resulting from exchange rates 20 - (1) - - 19 GROSS CARRYING AMOUNT AS AT 31.12.2025 7 902 - 38 - - 7 940 ALLOWANCES FOR EXPECTED CREDIT LOSSES ALLOWANCES FOR EXPECTED CREDIT LOSSES AS AT 1.01.2025 5 - - - - 5 Changes in balances included in the income statement (table in the Note 11) (1) - - - - (1) New / purchased / granted financial assets - - - - - - Financial assets derecognised, other than write-offs (repayments) - - - - - - Changes in level of credit risk (1) - - - - (1) Transfer to Stage 1 - - - - - - Transfer to Stage 2 - - - - - - Transfer to Stage 3 - - - - - - Financial assets written off - - - - - - Other, in this changes resulting from exchange rates - - - - - - ALLOWANCES FOR EXPECTED CREDIT LOSSES AS AT 31.12.2025 4 - - - - 4 (*) Receivables from the Central Bank include a current account and deposits.
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Bank Pekao S.A. 129 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) LOANS AND ADVANCES TO BANKS AND CENTRAL BANKS MEASURED AT AMORTISED COST (*) STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 3 (LIFETIME ECL - CREDIT-IMPAIRED) PURCHASED OR ORIGINATED CREDIT- IMPAIRED (POCI) TOTAL INDIVIDUAL ASSESSMENT GROUP ASSESSMENT GROSS CARRYING AMOUNT GROSS CARRYING AMOUNT AS AT 1.01.2024 10 834 13 60 - - 10 907 Transfer to Stage 1 - - - - - - Transfer to Stage 2 - - - - - - Transfer to Stage 3 - - - - - - New / purchased / granted financial assets 1 881 - - - - 1 881 Financial assets derecognised, other than write-offs (repayments) (2 700) (13) (11) - - (2 724) Financial assets written off - - - - - - Other, in this changes resulting from exchange rates (78) - (1) - - (79) GROSS CARRYING AMOUNT AS AT 31.12.2024 9 937 - 48 - - 9 985 ALLOWANCES FOR EXPECTED CREDIT LOSSES ALLOWANCES FOR EXPECTED CREDIT LOSSES AS AT 1.01.2024 9 - - - - 9 Changes in balances included in the income statement (table in the Note 11) (3) - - - - (3) New / purchased / granted financial assets - - - - - - Financial assets derecognised, other than write-offs (repayments) - - - - - - Changes in level of credit risk (3) - - - - (3) Transfer to Stage 1 - - - - - - Transfer to Stage 2 - - - - - - Transfer to Stage 3 - - - - - - Financial assets written off - - - - - - Other, in this changes resulting from exchange rates (1) - - - - (1) ALLOWANCES FOR EXPECTED CREDIT LOSSES AS AT 31.12.2024 5 - - - - 5 (*) Receivables from the Central Bank include a current account and deposits.
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Bank Pekao S.A. 130 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) TOTAL LOANS AND ADVANCES TO CUSTOMERS MEASURED AT AMORTISED COST LOANS AND ADVANCES TO CUSTOMERS MEASURED AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 3 (LIFETIME ECL - CREDIT-IMPAIRED) PURCHASED OR ORIGINATED CREDIT- IMPAIRED (POCI) TOTAL STAGE 1 (12M ECL) STAGE 3 (LIFETIME ECL - CREDIT- IMPAIRED) TOTAL INDIVIDUAL ASSESSMENT GROUP ASSESSMENT INDIVIDUAL ASSESSMENT GROSS CARRYING AMOUNT GROSS CARRYING AMOUNT AS AT 1.01.2025 152 945 18 904 3 584 3 914 969 180 316 247 - 247 Transfer to Stage 1 6 677 (6 531) (31) (115) - - - - - Transfer to Stage 2 (10 503) 10 646 (30) (113) - - - - - Transfer to Stage 3 (1 366) (1 206) 1 518 1 054 - - (183) 183 - New / purchased / granted financial assets 65 509 - - - 344 65 853 97 - 97 Financial assets derecognised, other than write-offs (repayments) (45 504) (4 003) (644) (1 091) (509) (51 751) (160) - (160) Financial assets written off (*) - (5) (225) (612) (18) (860) - - - Modifications not resulting in derecognition (8) - - - - (8) - - - Legal risk costs for mortgage loans in CHF 3 294 7 94 (2) 396 - - - Other, in this changes resulting from exchange rates (200) (174) 275 491 278 670 (1) (40) (41) GROSS CARRYING AMOUNT AS AT 31.12.2025 167 553 17 925 4 454 3 622 1 062 194 616 - 143 143 ALLOWANCES FOR EXPECTED CREDIT LOSSES (**) ALLOWANCES FOR EXPECTED CREDIT LOSSES AS AT 1.01.2025 640 930 1 752 2 413 163 5 898 3 - 3 Changes in balances included in the income statement (table in the Note 11) 173 67 611 193 (203) 841 19 15 34 New / purchased / granted financial assets 613 - - - 39 652 20 - 20 Financial assets derecognised, other than write-offs (repayments) (113) (98) (78) (115) (43) (447) (1) - (1) Changes in level of credit risk (327) 165 689 308 (199) 636 - 15 15 Transfer to Stage 1 304 (290) - (14) - - - - - Transfer to Stage 2 (175) 228 (5) (48) - - - - - Transfer to Stage 3 (91) (136) 79 148 - - (21) 21 - Financial assets written off (*) - (5) (225) (612) (18) (860) - - - Other, in this changes resulting from exchange rates (130) (6) 291 145 177 477 (1) - (1) ALLOWANCES FOR EXPECTED CREDIT LOSSES AS AT 31.12.2025 721 788 2 503 2 225 119 6 356 - 36 36 (*) Including the value of contractual interest subject to partial write-off in the amount of PLN 603 million. (**) The allowances for expected credit losses for loans and advances to customers measured at fair value through other comprehens ive income is included in the ‘Revaluation reserve’ item and does not reduce the carrying amount of the loan. The total value of undiscounted expected credit losses at the time of initial recognition of financial assets purchased or originated credit impaired in the period ended 31 December 2025 amounted to PLN 217 million.
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Bank Pekao S.A. 131 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) TOTAL LOANS AND ADVANCES TO CUSTOMERS MEASURED AT AMORTISED COST LOANS AND ADVANCES TO CUSTOMERS MEASURED AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 3 (LIFETIME ECL - CREDIT-IMPAIRED) PURCHASED OR ORIGINATED CREDIT- IMPAIRED (POCI) TOTAL STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) TOTAL INDIVIDUAL ASSESSMENT GROUP ASSESSMENT GROSS CARRYING AMOUNT GROSS CARRYING AMOUNT AS AT 1.01.2024 142 000 17 437 3 611 3 820 574 167 442 82 - 82 Transfer to Stage 1 4 058 (3 948) (22) (88) - - - - - Transfer to Stage 2 (11 006) 11 202 (40) (156) - - - - - Transfer to Stage 3 (1 338) (2 094) 2 115 1 317 - - - - - New / purchased / granted financial assets 57 912 - - - 435 58 347 162 - 162 Financial assets derecognised, other than write-offs (repayments) (38 395) (3 936) (1 748) (889) (294) (45 262) - - - Financial assets written off (*) - (2) (295) (504) (36) (837) - - - Modifications not resulting in derecognition (3) - - - - (3) - - - Legal risk costs for mortgage loans in CHF (1) 365 9 (23) (2) 348 - - - Other, in this changes resulting from exchange rates (282) (120) (46) 437 292 281 3 - 3 GROSS CARRYING AMOUNT AS AT 31.12.2024 152 945 18 904 3 584 3 914 969 180 316 247 - 247 ALLOWANCES FOR EXPECTED CREDIT LOSSES (**) ALLOWANCES FOR EXPECTED CREDIT LOSSES AS AT 1.01.2024 794 907 2 159 2 371 48 6 279 1 - 1 Changes in balances included in the income statement (table in the Note 11) (242) 540 408 265 (45) 926 2 - 2 New / purchased / granted financial assets 385 3 11 97 7 503 2 - 2 Financial assets derecognised, other than write-offs (repayments) (94) (52) (122) (64) (20) (352) - - - Changes in level of credit risk (533) 589 519 232 (32) 775 - - - Transfer to Stage 1 290 (279) - (11) - - - - - Transfer to Stage 2 (141) 209 (2) (66) - - - - - Transfer to Stage 3 (77) (296) 252 121 - - - - - Financial assets written off (*) - (2) (295) (504) (36) (837) - - - Other, in this changes resulting from exchange rates 16 (149) (770) 237 196 (470) - - - ALLOWANCES FOR EXPECTED CREDIT LOSSES AS AT 31.12.2024 640 930 1 752 2 413 163 5 898 3 - 3 (*) Including the value of contractual interest subject to partial write-off in the amount of PLN 596 million. (**) The allowances for expected credit losses for loans and advances to customers measured at fair value through other comprehensive income is included in the Revaluation reserve’ item and does not reduce the carrying amount of the loan. The total value of undiscounted expected credit losses at the time of initial recognition of financial assets purchased or originated credit impaired in the period ended 31 December 2024 amounted to PLN 569 million.
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Bank Pekao S.A. 132 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) CORPORATE (WITHOUT RECEIVABLES FROM FINANCE LEASES) LOANS AND ADVANCES TO CUSTOMERS MEASURED AT AMORTISED COST LOANS AND ADVANCES TO CUSTOMERS MEASURED AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 3 (LIFETIME ECL - CREDIT-IMPAIRED) PURCHASED OR ORIGINATED CREDIT- IMPAIRED (POCI) TOTAL STAGE 1 (12M ECL) STAGE 3 (LIFETIME ECL - CREDIT- IMPAIRED) TOTAL INDIVIDUAL ASSESSMENT GROUP ASSESSMENT INDIVIDUAL ASSESSMENT GROSS CARRYING AMOUNT GROSS CARRYING AMOUNT AS AT 1.01.2025 68 487 9 377 3 133 1 260 788 83 045 247 - 247 Transfer to Stage 1 3 843 (3 814) (3) (26) - - - - - Transfer to Stage 2 (7 289) 7 332 (30) (13) - - - - - Transfer to Stage 3 (969) (762) 1 398 333 - - (183) 183 - New / purchased / granted financial assets 40 080 - - - 285 40 365 97 - 97 Financial assets derecognised, other than write-offs (repayments) (28 178) (2 360) (432) (287) (440) (31 697) (160) - (160) Financial assets written off (*) - (4) (207) (215) (11) (437) - - - Modifications not resulting in derecognition (7) - - - - (7) - - - Other, in this changes resulting from exchange rates (194) (67) 214 189 243 385 (1) (40) (41) GROSS CARRYING AMOUNT AS AT 31.12.2025 75 773 9 702 4 073 1 241 865 91 654 - 143 143 ALLOWANCES FOR EXPECTED CREDIT LOSSES (**) ALLOWANCES FOR EXPECTED CREDIT LOSSES AS AT 1.01.2025 435 340 1 628 912 182 3 497 3 - 3 Changes in balances included in the income statement (table in the Note 11) 151 54 623 101 (161) 768 18 15 33 New / purchased / granted financial assets 332 - - - 31 363 19 - 19 Financial assets derecognised, other than write-offs (repayments) (78) (52) (65) (14) (36) (245) - - - Changes in level of credit risk (103) 106 688 115 (156) 650 (1) 15 14 Transfer to Stage 1 121 (119) - (2) - - - - - Transfer to Stage 2 (118) 128 (5) (5) - - - - - Transfer to Stage 3 (65) (69) 92 42 - - (21) 21 - Financial assets written off (*) - (4) (207) (215) (11) (437) - - - Other, in this changes resulting from exchange rates (9) (4) 280 47 164 478 - - - ALLOWANCES FOR EXPECTED CREDIT LOSSES AS AT 31.12.2025 515 326 2 411 880 174 4 306 - 36 36 (*) The allowances for expected credit losses for loans and advances to customers measured at fair value through other comprehensive income is included in the ‘Revaluation reserve’ item and does not reduce the carrying amount of the loan.
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Bank Pekao S.A. 133 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) CORPORATE (WITHOUT RECEIVABLES FROM FINANCE LEASES) LOANS AND ADVANCES TO CUSTOMERS MEASURED AT AMORTISED COST LOANS AND ADVANCES TO CUSTOMERS MEASURED AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 3 (LIFETIME ECL - CREDIT-IMPAIRED) PURCHASED OR ORIGINATED CREDIT- IMPAIRED (POCI) TOTAL STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) TOTAL INDIVIDUAL ASSESSMENT GROUP ASSESSMEN T GROSS CARRYING AMOUNT GROSS CARRYING AMOUNT AS AT 1.01.2024 63 391 8 264 2 920 1 447 489 76 511 82 - 82 Transfer to Stage 1 1 601 (1 575) (2) (24) - - - - - Transfer to Stage 2 (6 523) 6 552 (12) (17) - - - - - Transfer to Stage 3 (585) (1 647) 1 894 338 - - - - - New / purchased / granted financial assets 34 292 - - - 344 34 636 162 - 162 Financial assets derecognised, other than write-offs (repayments) (23 592) (2 180) (1 472) (377) (253) (27 874) - - - Financial assets written off - - (288) (238) (36) (562) - - - Modifications not resulting in derecognition (2) - - - - (2) - - - Other, in this changes resulting from exchange rates (95) (37) 93 131 244 336 3 - 3 GROSS CARRYING AMOUNT AS AT 31.12.2024 68 487 9 377 3 133 1 260 788 83 045 247 - 247 ALLOWANCES FOR EXPECTED CREDIT LOSSES (*) ALLOWANCES FOR EXPECTED CREDIT LOSSES AS AT 1.01.2024 585 322 1 996 898 69 3 870 1 - 1 Changes in balances included in the income statement (table in the Note 11), (38) 198 450 48 (25) 633 2 - 2 New / purchased / granted financial assets 222 1 1 12 6 242 2 - 2 Financial assets derecognised, other than write-offs (repayments) (61) (18) (70) (10) (16) (175) - - - Changes in level of credit risk (199) 215 519 46 (15) 566 - - - Transfer to Stage 1 69 (67) - (2) - - - - - Transfer to Stage 2 (119) 125 (1) (5) - - - - - Transfer to Stage 3 (56) (209) 245 20 - - - - - Financial assets written off - - (288) (238) (36) (562) - - - Other, in this changes resulting from exchange rates (6) (29) (774) 191 174 (444) - - - ALLOWANCES FOR EXPECTED CREDIT LOSSES AS AT 31.12.2024 435 340 1 628 912 182 3 497 3 - 3 (*) The allowances for expected credit losses for loans and advances to customers measured at fair value through other comprehensive income is included in the ‘Revaluation reserve’ item and does not reduce the carrying amount of the loan.
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Bank Pekao S.A. 134 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) CORPORATE – RECEIVABLES FROM FINANCE LEASES LOANS AND ADVANCES TO CUSTOMERS MEASURED AT AMORTISED COST STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 3 (LIFETIME ECL - CREDIT-IMPAIRED) TOTAL INDIVIDUAL ASSESSMENT GROUP ASSESSMENT GROSS CARRYING AMOUNT GROSS CARRYING AMOUNT AS AT 1.01.2025 10 520 256 386 740 11 902 Transfer to Stage 1 152 (51) (29) (72) - Transfer to Stage 2 (207) 217 - (10) - Transfer to Stage 3 (118) (145) 133 130 - New / purchased / granted financial assets 4 942 - - - 4 942 Financial assets derecognised, other than write- offs (repayments) (3 447) (38) (133) (185) (3 803) Financial assets written off - - (8) (117) (125) Modifications not resulting in derecognition - - - - - Other, in this changes resulting from exchange rates (143) 5 4 139 5 GROSS CARRYING AMOUNT AS AT 31.12.2025 11 699 244 353 625 12 921 ALLOWANCES FOR EXPECTED CREDIT LOSSES ALLOWANCES FOR EXPECTED CREDIT LOSSES AS AT 1.01.2025 23 3 79 190 295 Changes in balances included in the income statement (table in the Note 11) 113 - (6) (56) 51 New / purchased / granted financial assets 118 - - - 118 Financial assets derecognised, other than write- offs (repayments) (5) - (6) (59) (70) Changes in level of credit risk - - - 3 3 Transfer to Stage 1 7 (1) - (6) - Transfer to Stage 2 (2) 3 - (1) - Transfer to Stage 3 - (2) 2 - - Financial assets written off - - (8) (117) (125) Other, in this changes resulting from exchange rates (117) 2 (2) 121 4 ALLOWANCES FOR EXPECTED CREDIT LOSSES AS AT 31.12.2025 24 5 65 131 225
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Bank Pekao S.A. 135 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) CORPORATE – RECEIVABLES FROM FINANCE LEASES LOANS AND ADVANCES TO CUSTOMERS MEASURED AT AMORTISED COST STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 3 (LIFETIME ECL - CREDIT-IMPAIRED) TOTAL INDIVIDUAL ASSESSMENT GROUP ASSESSMENT GROSS CARRYING AMOUNT GROSS CARRYING AMOUNT AS AT 1.01.2024 9 991 303 641 248 11 183 Transfer to Stage 1 189 (141) (19) (29) - Transfer to Stage 2 (238) 265 (23) (4) - Transfer to Stage 3 (550) (93) 197 446 - New / purchased / granted financial assets 4 124 - - - 4 124 Financial assets derecognised, other than write- offs (repayments) (2 962) (40) (265) - (3 267) Financial assets written off - - - - - Modifications not resulting in derecognition - - - - - Other, in this changes resulting from exchange rates (34) (38) (145) 79 (138) GROSS CARRYING AMOUNT AS AT 31.12.2024 10 520 256 386 740 11 902 ALLOWANCES FOR EXPECTED CREDIT LOSSES ALLOWANCES FOR EXPECTED CREDIT LOSSES AS AT 1.01.2024 18 5 117 108 248 Changes in balances included in the income statement (table in the Note 11) 3 1 (39) 82 47 New / purchased / granted financial assets 9 2 10 85 106 Financial assets derecognised, other than write- offs (repayments) (6) (1) (49) (3) (59) Changes in level of credit risk - - - - - Transfer to Stage 1 3 (2) - (1) - Transfer to Stage 2 (1) 1 - - - Transfer to Stage 3 (1) (2) 3 - - Financial assets written off - - - - - Other, in this changes resulting from exchange rates 1 - (2) 1 - ALLOWANCES FOR EXPECTED CREDIT LOSSES AS AT 31.12.2024 23 3 79 190 295
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Bank Pekao S.A. 136 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) MORTGAGE LOANS TO INDIVIDUAL CLIENTS LOANS AND ADVANCES TO CUSTOMERS MEASURED AT AMORTISED COST STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 3 (LIFETIME ECL - CREDIT-IMPAIRED) PURCHASED OR ORIGINATED CREDIT- IMPAIRED (POCI) TOTAL INDIVIDUAL ASSESSMENT GROUP ASSESSMENT GROSS CARRYING AMOUNT GROSS CARRYING AMOUNT AS AT 1.01.2025 60 989 7 626 16 829 136 69 596 Transfer to Stage 1 2 369 (2 360) - (9) - - Transfer to Stage 2 (1 932) 1 996 - (64) - - Transfer to Stage 3 (106) (157) 2 261 - - New / purchased / granted financial assets 11 707 - - - 47 11 754 Financial assets derecognised, other than write-offs (repayments) (8 394) (980) (12) (184) (31) (9 601) Financial assets written off - - (6) (143) (6) (155) Modifications not resulting in derecognition (1) - - - - (1) Legal risk costs for mortgage loans in CHF 3 274 2 86 2 367 Other, in this changes resulting from exchange rates (35) (157) 11 74 15 (92) GROSS CARRYING AMOUNT AS AT 31.12.2025 64 600 6 242 13 850 163 71 868 ALLOWANCES FOR EXPECTED CREDIT LOSSES ALLOWANCES FOR EXPECTED CREDIT LOSSES AS AT 1.01.2025 53 358 14 477 (18) 884 Changes in balances included in the income statement (table in the Note 11) (122) (8) (2) 101 (18) (49) New / purchased / granted financial assets 34 - - - 4 38 Financial assets derecognised, other than write-offs (repayments) (3) (17) (2) (18) (4) (44) Changes in level of credit risk (153) 9 - 119 (18) (43) Transfer to Stage 1 128 (126) - (2) - - Transfer to Stage 2 (1) 29 - (28) - - Transfer to Stage 3 (8) (18) (6) 32 - - Financial assets written off - - (6) (143) (6) (155) Other, in this changes resulting from exchange rates 1 (3) 7 90 3 98 ALLOWANCES FOR EXPECTED CREDIT LOSSES AS AT 31.12.2025 51 232 7 527 (39) 778
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Bank Pekao S.A. 137 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) MORTGAGE LOANS TO INDIVIDUAL CLIENTS LOANS AND ADVANCES TO CUSTOMERS MEASURED AT AMORTISED COST STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 3 (LIFETIME ECL - CREDIT-IMPAIRED) PURCHASED OR ORIGINATED CREDIT- IMPAIRED (POCI) TOTAL INDIVIDUAL ASSESSMENT GROUP ASSESSMENT GROSS CARRYING AMOUNT GROSS CARRYING AMOUNT AS AT 1.01.2024 57 232 7 023 17 926 47 65 245 Transfer to Stage 1 1 835 (1 812) (2) (21) - - Transfer to Stage 2 (3 273) 3 374 (1) (100) - - Transfer to Stage 3 (42) (171) 5 208 - - New / purchased / granted financial assets 12 405 - - - 78 12 483 Financial assets derecognised, other than write-offs (repayments) (7 111) (1 080) (4) (192) (14) (8 401) Financial assets written off - (1) (1) (90) - (92) Modifications not resulting in derecognition (1) - - - - (1) Legal risk costs for mortgage loans in CHF (1) 340 3 (26) (3) 313 Other, in this changes resulting from exchange rates (55) (47) (1) 124 28 49 GROSS CARRYING AMOUNT AS AT 31.12.2024 60 989 7 626 16 829 136 69 596 ALLOWANCES FOR EXPECTED CREDIT LOSSES ALLOWANCES FOR EXPECTED CREDIT LOSSES AS AT 1.01.2024 62 318 13 516 (13) 896 Changes in balances included in the income statement (table in the Note 11) (150) 266 (3) 3 (14) 102 New / purchased / granted financial assets 35 - - - (2) 33 Financial assets derecognised, other than write-offs (repayments) (4) (7) (2) (30) (2) (45) Changes in level of credit risk (181) 273 (1) 33 (10) 114 Transfer to Stage 1 129 (126) - (3) - - Transfer to Stage 2 (1) 42 - (41) - - Transfer to Stage 3 (1) (26) 3 24 - - Financial assets written off - (1) (1) (90) - (92) Other, in this changes resulting from exchange rates 14 (115) 2 68 9 (22) ALLOWANCES FOR EXPECTED CREDIT LOSSES AS AT 31.12.2024 53 358 14 477 (18) 884
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Bank Pekao S.A. 138 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) OTHER LOANS AND ADVANCE TO INDIVIDUAL CLIENTS LOANS AND ADVANCES TO CUSTOMERS MEASURED AT AMORTISED COST STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 3 (LIFETIME ECL - CREDIT-IMPAIRED) PURCHASED OR ORIGINATED CREDIT- IMPAIRED (POCI) TOTAL INDIVIDUAL ASSESSMENT GROUP ASSESSMENT GROSS CARRYING AMOUNT GROSS CARRYING AMOUNT AS AT 1.01.2025 11 757 1 553 31 1 085 45 14 471 Transfer to Stage 1 313 (304) - (9) - - Transfer to Stage 2 (1 070) 1 097 - (27) - - Transfer to Stage 3 (171) (143) (8) 322 - - New / purchased / granted financial assets 7 748 - - - 12 7 760 Financial assets derecognised, other than write-offs (repayments) (5 148) (611) (51) (435) (38) (6 283) Financial assets written off - (1) (4) (136) (1) (142) Modifications not resulting in derecognition - - - - - - Other, in this changes resulting from exchange rates 173 66 52 97 16 404 GROSS CARRYING AMOUNT AS AT 31.12.2025 13 602 1 657 20 897 34 16 210 ALLOWANCES FOR EXPECTED CREDIT LOSSES ALLOWANCES FOR EXPECTED CREDIT LOSSES AS AT 1.01.2025 128 226 29 835 (2) 1 216 Changes in balances included in the income statement (table in the Note 11) 30 22 (2) 46 (24) 72 New / purchased / granted financial assets 128 - - - 3 131 Financial assets derecognised, other than write-offs (repayments) (26) (28) (2) (24) (3) (83) Changes in level of credit risk (72) 50 - 70 (24) 24 Transfer to Stage 1 46 (43) - (3) - - Transfer to Stage 2 (54) 69 - (15) - - Transfer to Stage 3 (21) (47) (7) 75 - - Financial assets written off - (1) (4) (136) (1) (142) Other, in this changes resulting from exchange rates (2) (2) 4 (114) 11 (103) ALLOWANCES FOR EXPECTED CREDIT LOSSES AS AT 31.12.2025 127 224 20 688 (16) 1 043
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Bank Pekao S.A. 139 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) OTHER LOANS AND ADVANCE TO INDIVIDUAL CLIENTS LOANS AND ADVANCES TO CUSTOMERS MEASURED AT AMORTISED COST STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 3 (LIFETIME ECL - CREDIT-IMPAIRED) PURCHASED OR ORIGINATED CREDIT- IMPAIRED (POCI) TOTAL INDIVIDUAL ASSESSMENT GROUP ASSESSMENT GROSS CARRYING AMOUNT GROSS CARRYING AMOUNT AS AT 1.01.2024 10 491 1 736 32 1 195 38 13 492 Transfer to Stage 1 432 (419) - (13) - - Transfer to Stage 2 (925) 964 (3) (36) - - Transfer to Stage 3 (161) (167) 2 326 - - New / purchased / granted financial assets 6 403 - - - 13 6 416 Financial assets derecognised, other than write-offs (repayments) (4 290) (588) (7) (320) (27) (5 232) Financial assets written off - (1) (5) (176) - (182) Modifications not resulting in derecognition - - - - - - Other, in this changes resulting from exchange rates (193) 28 12 109 21 (23) GROSS CARRYING AMOUNT AS AT 31.12.2024 11 757 1 553 31 1 085 45 14 471 ALLOWANCES FOR EXPECTED CREDIT LOSSES ALLOWANCES FOR EXPECTED CREDIT LOSSES AS AT 1.01.2024 129 255 32 849 (9) 1 256 Changes in balances included in the income statement (table in the Note 11) (56) 81 (3) 132 (6) 148 New / purchased / granted financial assets 118 - - - 3 121 Financial assets derecognised, other than write-offs (repayments) (23) (26) (2) (21) (2) (74) Changes in level of credit risk (151) 107 (1) 153 (7) 101 Transfer to Stage 1 88 (84) - (4) - - Transfer to Stage 2 (20) 40 - (20) - - Transfer to Stage 3 (19) (58) - 77 - - Financial assets written off - (1) (5) (176) - (182) Other, in this changes resulting from exchange rates 6 (7) 5 (23) 13 (6) ALLOWANCES FOR EXPECTED CREDIT LOSSES AS AT 31.12.2024 128 226 29 835 (2) 1 216
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Bank Pekao S.A. 140 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) DEBT SECURITIES MEASURED AT AMORTISED COST (*) DEBT SECURITIES MEASURED AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME (*) STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 3 (LIFETIME ECL - CREDIT-IMPAIRED) PURCHASED OR ORIGINATED CREDIT- IMPAIRED (POCI) TOTAL STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) TOTAL INDIVIDUAL ASSESSMENT GROSS CARRYING AMOUNT GROSS CARRYING AMOUNT AS AT 1.01.2025 115 498 141 - 63 115 702 13 977 14 13 991 Transfer to Stage 1 99 (99) - - - - - - Transfer to Stage 2 (25) 25 - - - (20) 20 - Transfer to Stage 3 - - - - - - - - New / purchased / granted financial assets 121 317 - - - 121 317 501 263 - 501 263 Financial assets derecognised, other than write-offs (repayments) (131 120) (7) - (12) (131 139) (488 242) (8) (488 250) Financial assets written off - - - - - - - - Modifications not resulting in derecognition - - - - - - - - Other, in this changes resulting from exchange rates (561) - - 5 (556) 423 - 423 GROSS CARRYING AMOUNT AS AT 31.12.2025 105 208 60 - 56 105 324 27 401 26 27 427 ALLOWANCES FOR EXPECTED CREDIT LOSSES (**) ALLOWANCES FOR EXPECTED CREDIT LOSSES AS AT 1.01.2025 71 4 - 43 118 17 - 17 Changes in balances included in the income statement (table in the Note 11) 8 (3) - - 5 4 - 4 New / purchased / granted financial assets 22 - - - 22 9 - 9 Financial assets derecognised, other than write-offs (repayments) (16) - - - (16) (4) - (4) Changes in level of credit risk 2 (3) - - (1) (1) - (1) Transfer to Stage 1 - - - - - - - - Transfer to Stage 2 (1) 1 - - - (1) 1 - Transfer to Stage 3 - - - - - - - - Financial assets written off - - - - - - - - Other, in this changes resulting from exchange rates - - - (4) (4) - - - ALLOWANCES FOR EXPECTED CREDIT LOSSES AS AT 31.12.2025 78 2 - 39 119 20 1 21 (*) Debt securities presented in the statement of financial position under ‘Securities’ and ‘Assets pledged as security for liabilities’. (**) The allowances for expected credit losses for debt securities measured at fair value through other comprehensive income is included in the ‘Revaluation reserve’ item and does not reduce the carrying amount of the securities.
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Bank Pekao S.A. 141 Consolidated Financial Statements of Bank Pekao S.A. Group for the year ended on 31 December 2025 (in PLN million) DEBT SECURITIES MEASURED AT AMORTISED COST (*) DEBT SECURITIES MEASURED AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME (*) STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) STAGE 3 (LIFETIME ECL - CREDIT-IMPAIRED) PURCHASED OR ORIGINATED CREDIT- IMPAIRED (POCI) TOTAL STAGE 1 (12M ECL) STAGE 2 (LIFETIME ECL - NOT CREDIT- IMPAIRED) TOTAL INDIVIDUAL ASSESSMENT GROSS CARRYING AMOUNT GROSS CARRYING AMOUNT AS AT 1.01.2024 93 138 83 - 53 93 274 16 051 38 16 089 Transfer to Stage 1 20 (20) - - - 31 (31) - Transfer to Stage 2 (100) 100 - - - (9) 9 - Transfer to Stage 3 - - - - - - - - New / purchased / granted financial assets 349 163 - - - 349 163 1 056 605 - 1 056 605 Financial assets derecognised, other than write-offs (repayments) (328 224) (19) - - (328 243) (1 059 261) (2) (1 059 263) Financial assets written off - - - - - - - - Modifications not resulting in derecognition - - - - - - - - Other, in this changes resulting from exchange rates 1 501 (3) - 10 1 508 560 - 560 GROSS CARRYING AMOUNT AS AT 31.12.2024 115 498 141 - 63 115 702 13 977 14 13 991 ALLOWANCES FOR EXPECTED CREDIT LOSSES (**) ALLOWANCES FOR EXPECTED CREDIT LOSSES AS AT 1.01.2024 83 3 - 28 114 26 1 27 Changes in balances included in the income statement (table in the Note 11) (9) (1) - - (10) (9) (1) (10) New / purchased / granted financial assets 19 - - - 19 3 - 3 Financial assets derecognised, other than write-offs (repayments) (9) - - - (9) (4) - (4) Changes in level of credit risk (19) (1) - - (20) (8) (1) (9) Transfer to Stage 1 - - - - - - - - Transfer to Stage 2 (3) 3 - - - - - - Transfer to Stage 3 - - - - - - - - Financial assets written off - - - - - - - - Other, in this changes resulting from exchange rates - (1) - 15 14 - - - ALLOWANCES FOR EXPECTED CREDIT LOSSES AS AT 31.12.2024 71 4 - 43 118 17 - 17 (*) Debt securities presented in the statement of financial position under ‘Securities’ and ‘Assets pledged as security for liabilities’. (**) The allowances for expected credit losses for debt securities measured at fair value through other comprehensive income is included in the ‘Revaluation reserve’ item and does not reduce the carrying amount of the securities.