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Warsaw, October 29th, 2026 GROWING OUR BUSINESS WHILE MAINTAINING A STRONG CAPITAL POSITION 9M’26 FINANCIAL RESULTS
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11 GROWING OUR BUSINESS WHILE MAINTAINING A STRONG CAPITAL POSITION Nominal net profit 4.264 bn PLN (9M’26, -18% y/y) Income tax +736 m PLN (9M’26, +48% y/y) Lending (+10% y/y) and fee and commission income revival (+11% y/y) Strong growth rates in digital channels Robust capital position and comfortable MREL levels, further strengthened by the July Tier 2 issuance
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2 KEY ACHIEVEMENTS - FINANCIALS01. MACRO & FINANCIAL RESULTS03. BUSINESS ACHIEVEMENTS02. APPENDIX04.
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KEY ACHIEVEMENTS Net profit nominal (9M’26) ROE with annualised BGF cost (9M’26) C/I incl./excl. BGF (9M’26) Tier 1 Assets Financing portfolio CoR (9M’26) NPL (9M’26) PLN 4.264 bn -18% y/y 16.8% 36.5 1 %/ 34.0% 14.7% PLN 372 bn +10% y/y PLN 220 bn +10% y/y 49 bps 4.4% 331 C/I with annualised BGF cost
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DOUBLE-DIGIT GROWTH IN LENDING IN KEY STRATEGIC SEGMENTS Cash loan volume Micro financing volume PLN bn PLN bn Sep 25 Sep 26 Sep 25 Sep 26 13.9 5.5 16.2 6.3 +16.2% +15.0% 4 MID+SME financing volume PLN bn Sep 25 Sep 26 44.2 50.3 +14.0%
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5 ALL BUSINESS SEGMENTS CONTRIBUTED TO 9M’26 PERFORMANCE Retail banking New sales of cash loans (net) CustodyNew sales of MID financing New sales of mortgage loans Portfolio of corporate clients Fees in SME segment New sales of micro loans Leasing portfolioMID+SME financing volume +17% +26%+16% +31% +12%+17% +12% +17%+14% Enterprise banking Corporate banking Note: Enterprise Banking segment consists of MID and SME segments 9M’26 (vs 9M’25)
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6 KEY ACHIEVEMENTS - FINANCIALS01. MACRO & FINANCIAL RESULTS03. BUSINESS ACHIEVEMENTS02. APPENDIX04.
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IMPLEMENTATION OF BANK PEKAO’S STRATEGY IS UNDERWAY 7 ROE (%) C/I (%, incl./excl. BGF) Dividend 4 (%) Target 2027 >18 2 <35 50-75 65-75CoR (bps) Execution 9M’26 16.5/16.8 1 36.5 3 /34.0 75 5 49 Strategic goals of Bank Pekao 1 ROE including annualised BGF cost. ROE adjusted for CIT rate change would have stood at: 19.4% 2 Assuming the NBP reference rate of 3.5% at the end of 2027 3 C/I with annualised BGF cost 4 Dividend payout ratio 5 Dividend payout ratio from 2025 profit. The amount of dividend per share is PLN 19.77 Bank Pekao Strategy 2025-2027 Growth Accessibility Efficiency ...the onlyway is up!
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8 Retail & private banking • TURBO KLIK in PeoPay – streamlined online cash loan process, enabling customers to obtain a loan in just a few minutes • A new approach to mortgage offers – customers can select additional banking products to benefit from preferential mortgage margins and fixed interest rates for an initial period • Pekao Złota – expansion of the investment offering with a passively managed commodity fund tracking changes in a gold price index, net of sub-fund costs • New investment products in Private Banking – structured products in PLN, EUR and USD, linked to shares of technology and healthcare companies, with capital protection at maturity • POLSTR-based deposit products – expansion of the offering to enable the use of POLSTR as a reference rate for deposit products (accounts and overnight) for business and corporate clients • International business support network – establishing a partnership with Raiffeisen Bank International to facilitate our clients’ international expansion in Austria, the Czech Republic and Romania by providing access to local market expertise, banking partners and a dedicated International Office. Germany will join the network later this year, and in 2027 we will further expand our international support network to additional countries by establishing partnerships with other banks abroad • Expansion of self-service capabilities – broadening the range of requests and documents that clients can manage independently via remote channels, including electronic card reports, one-off open cash withdrawals, Automatic Funds Investment, the Auto-Withdrawal service and Deposit Sum Accounts Enterprise & Corporate banking WE SYSTEMATICALLY EXPAND OUR OFFER FOR OUR CLIENTS
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Active mobile banking customers million Active digital customers New digital channel features launched in Q3 2026 3Q 25 2Q 26 3Q 26 3.84 3.68 3.93 +7% 4.25 million +5% y/y 3.7 million Number of active PeoPay users (+8% y/y) Among active digital customers 92% 65% use mobile log in exclusively on mobile devices 9 – Simplified identity verification using the mObywatel app – customers can securely share their personal data via mObywatel and, once successfully verified, proceed directly to the next step of the process without taking a selfie – New QR code-based login to Pekao24 using the PeoPay app – we have completed the implementation of passwordless login to Pekao24; customers will be able to log in to Pekao24 without entering their customer number or password, using only the PeoPay app. The solution will work on any device, including untrusted devices, and will become available to customers in Q4 2026 +2% INCREASING USE OF DIGITAL AND MOBILE CHANNELS – IN THE 3RD QUARTER OF 2026, AN INCREASE OF 88 THOUSAND ACTIVE MOBILE USERS
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1010 PLN 2 bn INVESTMENT LOAN Lender EUR 85 m INVESTMENT LOAN Original Lender PLN 200 m LOAN FOR LOCAL GOVERNMENT UNITS Miasto Lublin Miasto Łódź Magazyny EE Mieczysławów Kamionka PLN 700 m RCF Existing Lender PLN 526 m INVESTMENT LOAN Agent, Arranger, Security Agent PLN 235 m LOAN FOR LOCAL GOVERNMENT UNITS PLN 500 m SENIOR FACILITIES MLA, Agent, Security Agent EUR 500 m 5-YEAR EUROBONDS Joint Lead Manager, Dealer PLN 185 m INVESTMENT LOAN Lender PLN 140 m KRB, FACTORING Lender Transactions WE CONSISTENTLY SUPPORT DEVELOPMENT OF OUR CLIENTS
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11 KEY ACHIEVEMENTS - FINANCIALS01. MACRO & FINANCIAL RESULTS03. BUSINESS ACHIEVEMENTS02. APPENDIX04.
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Real wage growth GDP growth 12Source: Pekao Research, Statistics Poland, NBP – We decided to raise our GDP forecasts for 2026 on the back of strong exports and accelerating investment in H1’26. Recent upward revision to 2025 numbers confirms that Poland is in a strong capex cycle. – In 2027 GDP growth will slow down, mainly due to weakness in consumption (a direct result of the Iran War and the energy shock). We expect household consumption to slow down to 2.5% next year and GDP to 2.9%. %, yoy %, annual average -8 -6 -4 -2 0 2 4 6 8 10 12 2020 2021 2022 2023 2024 2025 2026 2027 Iran War 5.2 6.2 4.6 -2.0 6.9 5.3 0.2 3.3 3.8 4.0 2.9 -3 -2 -1 0 1 2 3 4 5 6 7 8 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 Forecast -8 -6 -4 -2 0 2 4 6 8 10 12 2020 2021 2022 2023 2024 2025 2026 2027 Iran War 5.2 6.2 4.6 -2.0 6.9 5.3 0.2 3.3 3.8 4.0 2.9 -3 -2 -1 0 1 2 3 4 5 6 7 8 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 Forecast THE CAPEX CYCLE IS STRONG AND GDP FORECASTS ARE BEING RAISED. NEXT YEAR POLAND WILL GROW BY A TAD LESS THAN 3%
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13Source: Pekao Research, GUS, NBP, Refinitiv, Bloomberg – The oil shock turned out to be more persistent and broad-based than previously assessed. There are additional upward risks to the inflation outlook, e.g. food prices. While second-round effects have been limited so far, one should not expect that to last forever. Inflation will exceed the target band in 2027 as well. – The MPC turned more hawkish and communicates that it’s ready to hike rates if necessary. We expect it to do so at the turn of 2026 and 2027, by 75 bps. INFLATION IS HIGHER AND MORE PERSISTENT THAN ANTICIPATED. THE NBP WILL RAISE RATES BY 75 BPS AT THE TURN OF 2026 AND 2027 CPI and its components Historical and projected NBP reference rate %, yoy % 0 1 2 3 4 5 6 7 2020 2021 2022 2023 2024 2025 2026 2027 NBP reference rate Pekao forecast Market pricing Market consensus -1 0 1 2 3 4 5 6 Food and non-alcoholic beverages Energy Fuels Core inflation CPI Forecast Jan - 24 Apr - 24 Jul - 24 Oct - 24 Jan - 25 Apr - 25 Jul - 25 Oct -25 Jan - 26 Apr - 26 Jul - 26 Oct -26 Jan - 27 Apr - 27 Jul - 27 Oct -27 0 1 2 3 4 5 6 7 2020 2021 2022 2023 2024 2025 2026 2027 NBP reference rate Pekao forecast Market pricing Market consensus -1 0 1 2 3 4 5 6 Food and non-alcoholic beverages Energy Fuels Core inflation CPI Forecast Jan - 24 Apr - 24 Jul - 24 Oct - 24 Jan - 25 Apr - 25 Jul - 25 Oct -25 Jan - 26 Apr - 26 Jul - 26 Oct -26 Jan - 27 Apr - 27 Jul - 27 Oct -27
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65 287 123 270 9 052 60 613 112 314 67 427 127 400 71 881 16 179 50 33248 743 92 386 Retail loan volumes1 Corporate loan volumes2 PLN m PLN m Sep 25 Jun 26 Sep 26 Sep 25 Jun 26 Sep 26 69 573 13 922 44 169 88 293 70 629 15 518 90 284 +4.6% +13.4% 141 Gross loans 2 Gross loans, Corporate and Enterprise segments including leasing and factoring, excl. BSB and reverse repo transactions. – Total loans increased by 10% y/y – +4.6% y/y growth in retail loan portfolio, including: • +16.2% y/y growth in cash loan volume • +3.3% y/y growth in mortgage loan volume (rising sales are partially offset by the impact of portfolio refinancing) – Corporate loans up 13.4% y/y. Strong loan growth for enterprises (MID + SME) of 14.0% y/y 7 5324 3264 798 4 137 Consumer loans PLN mortgage loans MID+SMEOther retail loans Corporate loans Public sector +16.2% +3.3% +14.0% +11.2% 9 240 ACCELERATION IN THE GROWTH OF CUSTOMER FINANCING 9 641
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Customer retail savings Corporate deposits and own issues PLN m PLN m 15 – Total deposit base increased by 9.5% y/y – Net assets of investment funds managed by Pekao TFI S.A. amounted to PLN 46,871 million as at the end of September 2026, an increase of 21.1%, compared to the end of September 2025 – Total increase in own issues by 36.5% y/y Retail deposits Corporate depositsMutual funds (Pekao TFI) Own issues 122 170 150 009 160 163 45 745 27 839 205 908 108 306 130 649 Sep 25 Jun 26 Sep 26 Sep 25 Jun 26 Sep 26 151 859 38 719 22 343 190 578 +10.4% +16.4% +21.1% +7.6% +36.5% +12.2% A MATERIAL INCREASE IN CUSTOMER DEPOSITS AND INVESTMENT ASSETS 163 453 46 871 210 324 121 518 152 025 30 507
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Net interest income Net interest margin1 PLN m % 16 THE CHANGE IN NIM LIMITED RELATIVE TO THE SCALE OF THE INTEREST RATE CUTS 3.89% 4.15% 4.07% 3.92% 3.91% 3Q 25 4Q 25 1Q 26 2Q 26 3Q 26 3 430 3 403 3 312 3 302 3Q 25 4Q 25 1Q 26 2Q 26 3Q 26 Average WIBOR 3M 3.85%4.32% 3.87% 3.83%4.88% 4.23% 3.91% 9M 25 9M 26 10 290 10 139 9M 25 9M 26 +2.8% -26 bps -105 bps -33 bps -1.5% 3 525 3.89% 4.15% 4.07% 3.92% 3.91% 3Q 25 4Q 25 1Q 26 2Q 26 3Q 26 3 430 3 403 3 312 3 302 3Q 25 4Q 25 1Q 26 2Q 26 3Q 26 Average WIBOR 3M 3.85%4.32% 3.87% 3.83%4.88% 4.23% 3.91% 9M 25 9M 26 10 290 10 139 9M 25 9M 26 +2.8% -26 bps -105 bps -33 bps -1.5% 3 525 1 Excluding effect of CJEU
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Interest-bearing assets1 Interest-bearing liabilities PLN bn PLN bn 17 INCREASED BUSINESS SCALE AND LOWER COST OF FINANCING LIABILITIES 359 5.15% 296 298 308 315 3Q 25 4Q 25 1Q 26 2Q 26 3Q 26 Interest on assets Interest on liabilities 328 332 343 352 5.80% 5.49% 5.29% 5.13% 3Q 25 4Q 25 1Q 26 2Q 26 3Q 26 325 351 6.03% 5.14% 9M 25 9M 26 292 316 1.99% 1.42% 9M 25 9M 26 1.83% 1.59% 1.53% 1.37% +9.8%+9.5%+8.0% +8.3% 325 1.38% 1 Excluding effect of CJEU
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18 – Consistently executed hedging strategy using fixed-rate securities and derivatives (growing IRS volume) – Current sensitivity to interest rate changes, resulting mainly from low-interest deposits: 10-15 bps NIM change for a 100 bps rate changes – A 100 bps increase in interest rates would reduce the Tier 1 ratio by approximately 15 bps. – ~80% share of periodically fixed-rate loans in new mortgage sales; share in total portfolio approx. 45% – Actual NII sensitivity to interest rate changes is influenced by the ability to adjust term deposits pricing LOW SENSITIVITY TO INTEREST RATE CHANGES Interest rate risk profile Assets Liabilities Capital Treasury bonds/ covid bonds Fixed rate/secured mortgages Current accounts Other deposits Other interest- bearing assets Other liabilities Exposure to interest rate changes 10-15% of assets VARIABLE rate FIXED rate (inc. periodically fixed rate ) FIXED rate (for falling interest rates) VARIABLE rate (economically)
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Net fee and commission income PLN m 19 – Net fee and commission income amounted to PLN 2,514 million in 9M26, increasing by PLN 250 million, or 11.0%, compared to the same period of 2025 – The y/y increase was driven by growth across all business segments of the Group, supported by higher customer activity and favorable conditions in the capital markets GROWTH IN COMMISSION INCOME O p ła t y z a p r o w adz en i e r a c h u n k ów i p o z o sta łe o p łat y M ar ża n a t r an s ak c j ac h w a l u t o w y c h Loans Z ar z ądz an i e ak tyw am i i u s łu gi br o k er s k i eCards + 11. 3 % + 0 . 0 % + 9 . 0 % + 1 0 . 0 % + 5 . 8% + 2 9 . 8% y /y 151 198 164 177 196 86 97 83 93 91 190 261 221 211 209 188 197 186 198 205 152 137 175 153 152 767 890 829 832 853 3 Q 2 5 4 Q 2 5 1Q 2 6 2 Q 2 6 3 Q 2 6 460 537 245 267 551 641 555 589 453 480 2 264 2 514 9 M 2 5 9 M 2 6 + 6 . 0 % + 6 . 1 % + 1 6 . 3 % + 9 . 0 % + 1 6 . 7 % y /y + 11. 0 % O p ła t y z a p r o w adz en i e r a c h u n k ów i p o z o sta łe o p łat y M ar ża n a t r an s ak c j ac h w a l u t o w y c h Loans Z ar z ądz an i e ak tyw am i i u s łu gi br o k er s k i eCards + 11. 3 % + 0 . 0 % + 9 . 0 % + 1 0 . 0 % + 5 . 8% + 2 9 . 8% y /y 151 198 164 177 196 86 97 83 93 91 190 261 221 211 209 188 197 186 198 205 152 137 175 153 152 767 890 829 832 853 3 Q 2 5 4 Q 2 5 1Q 2 6 2 Q 2 6 3 Q 2 6 460 537 245 267 551 641 555 589 453 480 2 264 2 514 9 M 2 5 9 M 2 6 + 6 . 0 % + 6 . 1 % + 1 6 . 3 % + 9 . 0 % + 1 6 . 7 % y /y + 11. 0 % Loans Cards FX commercial fees Bank account and other feesAsset management & brokerage
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Personnel costs Non-personnel, D&A costs 805 820 825 884 846 557 643 602 592 621 1 362 1 463 1 427 1 476 1 467 3 Q 2 5 4 Q 2 5 1Q 2 6 2 Q 2 6 3 Q 2 6 +7.7% 31.6% 33.6% 34.6% 33.4% 34.1% 3 Q 2 5 4 Q 2 5 1Q 2 6 2 Q 2 6 3 Q 2 6 +2.5 pp. BGF and PFSA charges 28 45826 20 2 437 2 555 1 630 1 815 4 067 4 370 9 M 2 5 9 M 2 6 +7.5% 31.7% 34.0% 9 M 2 5 9 M 2 6 +2.3 pp. 404 460 +13.9% Operating costs Cost/Income (excl. BGF) PLN m % 20 – Operating expenses amounted to PLN 4,370 million in 9M26, increasing by PLN 303 million, or 7.5%, compared with the same period of 2025, as the Bank continued to invest in business growth and strategic transformation initiatives – An increase in operating expenses excluding personnel and in depreciation by 11.3% y/y in 9M26, mainly driven by higher IT costs, new-strategy-related projects and more active marketing – Cost-to-Income ratio (excl. BGF) at 34% in 9M26 CONTINUED OPERATING COST DISCIPLINE
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COST OF RISK BELOW THE STRATEGY ASSUMPTIONS Cost of risk PLN m bps 21 – Cost of risk at 61 bps in 3Q26 and 49 bps YTD – Quarter-on-quarter increase in the cost of risk in the portfolio of business entities driven by additional provisions for two clients, while lower cost of risk in the portfolio of individual clients results from the persistently low loss ratio – The Bank is continuously monitoring risks stemming from the armed conflict in the Middle East region. Exposure to entities from this region and to sectors particularly vulnerable to such risk is limited and amounts to 0.25% and 5.57% of the Group’s total on-balance-sheet exposure, respectively 1 Segment division excluding ex-Idea Bank bps1 Group Business entities Individual clients 49 27 37 47 61 3Q 25 4Q 25 1Q 26 2Q 26 3Q 26 240 136 189 248 332 3Q 25 4Q 25 1Q 26 2Q 26 3Q 26 49 47 61 75 71 102 6 10 2 3Q 25 2Q 26 3Q 26 624 769 9M 25 9M 26 49 27 37 47 61 3Q 25 4Q 25 1Q 26 2Q 26 3Q 26 240 136 189 248 332 3Q 25 4Q 25 1Q 26 2Q 26 3Q 26 49 47 61 75 71 102 6 10 2 3Q 25 2Q 26 3Q 26 624 769 9M 25 9M 26
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STABLE ASSET QUALITY 3Q 25 4Q 25 1Q 26 2Q 26 3Q 26 3Q 263Q 25 4Q 25 1Q 26 2Q 26 72 72 72 22 15 16 14 57 56 58 67 92 12 26 55 66 3Q 25 2Q 26 3Q 26 4.5 6.3 2.3 4.5 4.1 0.4 71 15 56 4.4 4.0 0.4 71 14 57 4.5 4.0 0.5 – NPL ratio below 5% threshold – Stable and high provision coverage ratio 4.4 3.9 0.5 4.44.4 6.16.1 2.12.1 4.4 4.0 0.4 75 16 59 NPL ratio NPL coverage ratio % % ex-Idea portfolio (covered by BGF guarantee) Underlying NPL NPL coverage: Stage3 NPL coverage: Stage 1-2 Group Business entities Individual clients Pekao excl. Idea Pekao total Business entities Individual clients
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Net profit reported for the first nine months of 2026 was primarily affected by external factors, including the increase in the corporate income tax rate from 19% to 30%, lower market interest rates, and an increase in contributions to the Bank Guarantee Fund (BGF) of PLN 59 million. PLN m 23 5 191 4 264 -151 250 -145 78 -303 -145 296 -59 -748 Net profit attributable to equity holders of the Bank 3 quarters of 2025 Net interest income (*) Net fee and commission income Net non- interest income (**) Provisions related to consumer protection Operating costs Cost of risk Costs of legal risk of foreign currency mortgage loans Contributions to the Bank Guarantee Fund Tax on certain financial institutions, CIT and others Net profit attributable to equity holders of the Bank 3 quarters of 2026 NET PROFIT GENERATION PATH * Including the impact of the CJEU judgment on consumer loan costs * * Excluding the cost of consumer protection provisions Impact of external factors
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CET 1 Total capital adequacy ratioTier 1 % %% Minimum requirements 2026 Payment criterion up to 50% / 75% of net profit1 Pekao Group Minimum requirements 2026 Payment criterion up to 50% / 75% of net profit1 Pekao Group Minimum requirements 2026 Payment criterion up to 50% / 75% of net profit1 Pekao Group 9.9 13.4 11.49.9 13.4 11.4 14.7 17.8 14.7 +4.8 pp +4.4 pp+3.3 pp 241 Criterion for paying out up to 50% of net profit is the minimum requirement for the Group. Criterion for paying out up to 75% of profit is additional share of NPLs in the portfolio of receivables from the non-financial sector at a level of up to 5% STRONG CAPITAL POSITION – CAPITAL SURPLUS OVER 3.3 PP . DIVIDEND POTENTIAL IN LINE WITH THE STRATEGY (50-75% OF NET PROFIT)
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MREL % MREL-TREA requirements Sep 2026 MREL-TEM requirements Sep 2026 19.0 1.8 5.5 20.8 5.9 24.0 1.1 11.1 25.1 11.7 25 – Total MREL-TREA requirement is 20.8%1, while subordinated MREL-TREA requirement is 19.0%1 of total risk exposure – Total MREL-TEM requirement is 5.9%, while subordinated MREL-TEM requirement is 5.5% of total exposure measure – Both total and subordinated MREL-TREA and MREL-TEM requirements are met subordinated MREL instruments unsubordinated MREL instruments 5.4 % Of which combined buffer requirement 1 Taking into account combined buffer requirement of 5.4 pp. MINIMUM REQUIREMENT FOR OWN FUNDS AND ELIGIBLE LIABILITIES (MREL) 0.4 0.6
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26 Bank Pekao S.A. received the 2026 European Smart Development Award for its comprehensive and long-term financial, digital, and economic education programme, delivered through the engagement of our employees in skills-based volunteering initiatives. Bank Pekao S.A. has been awarded the “Cybersecurity Pillars” prize in the Education category, during Cyber24DAY 2026 in recognition of its efforts to promote cybersecurity education, particularly among children, young people, and senior citizens. Bank Pekao was recognized at the POLSIF Awards 2026 for the financing provided to Polenergia. The bank received one of two distinctions awarded for Best Sustainable Financing at the Sustainable Investment Forum Poland. Cezary Stypułkowski, the CEO of Bank Pekao, was honored with the “Faculty Diamond 2026” award by the Faculty of Law and Administration of the University of Warsaw in recognition of his achievements, professional career, and attitude that inspires future generations. Bank Pekao was recognized by Global Finance magazine in two key areas of corporate and institutional banking. The bank received the titles of Best Sub-Custodian Bank in Poland 2026 and Best Treasury & Cash Management Bank in Poland 2026. Bank Pekao S.A. ranked first in the branch service category in the third wave of the “Institution of the Year 2026” study, organized by the mojebankowanie.pl portal. AWARDS AND DISTINCTIONS
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27 KEY ACHIEVEMENTS - FINANCIALS01. MACRO & FINANCIAL RESULTS03. BUSINESS ACHIEVEMENTS02. APPENDIX04.
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28 – Cash loan portfolio reached PLN 16.2 bn at the end of September 2026, up 16.2% YoY – Sales momentum supported by attractive offers and the new simplified “one-click” process, enabling an even faster and easier online loan journey in PeoPay RETAIL BANKING: CASH LOAN SALES MAINTAIN STRONG MOMENTUM Sep 25 Jun 26 Sep 26 13 922 16 17915 518 +16.2% Sep 25 Jun 26 Sep 26 8.6% 8.8%8.8% 3Q 25 2Q 26 3Q 26 1 906 2 2812 275 +19.7% Cash loan volume growth Market shares - cash loan portfolio New sales of cash loans PLN m % PLN m
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29 RETAIL BANKING: MORTGAGE LOAN SALES INCREASED TO PLN 4.2BN IN Q3 2026, UP 36% Y /Y – Mortgage loan sales reached PLN 4.2bn in Q3 2026, up 36% YoY – Strong upward momentum, with sales reaching record levels since the “Safe Credit 2%” programme – Since 1 October, we have offered mortgage loans based on the POLSTR 1M Compounded Rate – Product offering expanded with a dedicated proposition for public-sector employees and a more attractive refinancing offer for mortgages from other banks Sep 25 Jun 26 Sep 26 69 573 71 88170 629 +3% Sep 25 Jun 26 Sep 26 14.4% 13.3%13.6% 3Q 25 2Q 26 3Q 26 3 098 4 1993 920 +36% +7% Volume of mortgage loans in PLN Market shares – mortgage loans in PLN New sale of mortgage loans PLN m % PLN m
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RETAIL BANKING: WE MAINTAIN HIGH SALES OF NEW ACCOUNTS AND THE COMPETITIVENESS OF OUR OFFER 30 Number of individual customers Current accounts: gross sales Gross sales of new credit cards ths ths ths 3Q 25 3Q 26 3Q 25 3Q 262Q 261Q 264Q 252Q 26 19.2 129 3Q 25 3Q 262Q 261Q 264Q 25 19.3 111 6 730 6 805 113 16.5 113 18.4 134 17.8 6 854 – In the first nine months of 2026 we opened nearly 360 ths Przekorzystne and Świat Premium accounts (134ths accounts in 3Q26), including 120.9 ths accounts for customers under the age of 26, representing 33% of total account openings – We carried out promotional activities focused on increasing card transaction volumes and customer acquisition
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31 RETAIL BANKING: AN INCREASE IN THE VOLUME OF INVESTMENT PRODUCTS AND TOTAL SAVINGS 3 236 4 110 160 163 Other investment products¹ Investment funds 151 858 3Q 25 3Q 262Q 26 3Q 25 3Q 262Q 26 +8% +22% 47 604 48 607 96 211 40 008 42 061 82 069 3Q 25 3Q 262Q 261Q 264Q 25 -42% 5 575 3 474 163 453 3 369 49 161 51 188 100 349 – A strong increase in total retail customer savings held in deposits and investment products, exceeding PLN 29 bn y/y Retail deposits Investment products: AUM PLN m PLN m 1 Other investment products include structured products, bonds, insurance investment products for retail clients and Private Banking, PPK 2Net sales of total investment products of Retail individual and Private customers Investment products: net sales² PLN m
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32 ENTERPRISE BANKING: INCREASE IN MID+SME FINANCING VOLUMES BY 14% Y /Y 31 658 36 232 12 511 14 100 44 169 50 332 Sep 25 Jun 26 Sep 26 914 1 014 931 3Q 25 2Q 26 3Q 26 4 217 4 668 3 780 5 447 2 017 1 941 2 072 2 3406 233 6 609 5 852 7 787 3Q 25 4Q 25 1Q 26 2Q 26 3Q 26 MID SMEMID SME +14%-5% 3 893 2 025 5 917 35 231 13 512 48 743 – We enabled the use of the POLSTR benchmark to determine interest rates on bank accounts and overnights – We introduced an online cash deposit posting service, allowing clients using sealed cash deposit services to have the declared amount credited to their accounts on the day the cash is handed over – We expanded our cash deposit services to include an electronic Bank Deposit Slip (eBDW) with a QR code – We enhanced customer self- service in PekaoBiznes24 by making additional electronic forms available Sales of SME and MID financing Financing volumes Customer acquisition PLN m PLN m Number of clients
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33 CHF portfolio provisions % CHF portfolio provisions as % of CHF mortgage loan portfolio 5.8 4.6 4.1 3.3 2.2 1.1 1.1 0.7 0.3 0.2 7 .6 8.7 7 .6 5.7 4.3 2.7 2.3 1.8 0.4 0.3 B a nk 4B a nk 2B a nk 1 B a nk 3 Pe ka o B a nk 5 B a nk 8B a nk 6 131% 188% 187% 171% 202 % 136 % 159%200% CHF mortgage loan portfolio B a nk 9 236 % B a nk 7 255% CHF MORTGAGE LOAN PORTFOLIO: HIGH PROVISION COVERAGE LEVELS, MOST BANKS INDICATING THAT THE ISSUE IS NEAR RESOLUTION CHF mortgage loan portfolio and CHF portfolio provisions PLN bn, % Note: Data for Bank 1 & Bank 3 as at December 31, 2025, for Pekao as at September 30, 2026, for other banks as at June 30, 2026. Source: financial statements, own calculations according to a consistent methodology
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34 – One of the smallest portfolios on the market, one of the highest reserve coverage – More than 80% of contracts fully repaid or resolved through settlements or final court judgements – Decrease in inflow of lawsuits LIMITED RISK OF CHF PORTFOLIO Structure of CHF loans pcs 38 ths 2.2 bn CHF 5 ths 18 ths 2 ths 13 ths Loans subject to reserve Repaid Final court judgements Settlements Active contracts ~20% in courts ~75% in courts
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35 1 Customer financing (excluding reverse repo transactions) / amounts due to clients, including debt securities (excluding repo transactions) 2 The net profit payout criterion for the Leverage Ratio (LR) is to maintain the ratio above 5%. 234% 239% 238% 227% 231% 168% 171% 168% 169% 170% 3Q 25 4Q 25 1Q 26 2Q 26 3Q 26 LC R N SFR 7.2% 6.9% 6.9% 3Q 25 2Q 26 3Q 26 Regulatory minimum =3.0% 69% 67% 68% 3Q 25 2Q 26 3Q 26 LCR and NSFR Loans/Deposits1 Leverage ratio2 % % % ROBUST FINANCIAL AND LIQUIDITY POSITION
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36 TCR quarterly change % 1.1% 0.4% -0.3% -0.2% 16.8% 17.8% Jun 26 T2 bond issuance completed in July (after amortisation) Retention of part of 1H’26 profit Change in capital requirement Other changes in capital Sep 26 – The ratio increased by 1.0 pp, mainly due to the EUR 500m T2 bond issuance completed in July and the retention of part of 1H’26 profit, despite: • an increase in the capital requirement for credit risk • other changes in capital (HTC&S valuation and intangible assets) CHANGE IN TOTAL CAPITAL RATIO
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37 MREL quarterly change % 25.1% -0.2% 1.2% 0.4% -0.4% -0.2% -1.2% -0.5%24.3% 23.4% Jun 26 Early redemption of SNP bonds T2 bond issuance completed in July Retention of part of 1H’26 profit Change in capital requirement Other changes in capital Sep 26 Redemption of ESN1 bonds Shortening the maturity of Series A T2 bonds MREL pro forma – The MREL ratio increased by 0.8 pp in 3Q’26, mainly due to the EUR 500m T2 bond issuance and the retention of part of 1H’26 profit, despite: • the exercise of the early redemption option for PLN 350m of Series 2 SNP bonds • an increase in the capital requirement for credit risk – An expected decline in MREL ratios due to the shortening of the maturities of ESN1 and Series A to less than one year in Q4’26 ITEMS AFFECTING MREL
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38 Strong capital buffers above minimum requirements 1 Including call option +4.4pp 2 184 1 250 500 750 3 275 2 184 2 934 2 184 2 184 2 184 2H 26 1H 27 2H 27 1H 28 2H 28 1H 29 2H 29 1H 30 2H 30 1H 31 2H 31 1H 32 2H 32 8.0% 17.8% 16.0%5.4% 7.4% 7.3% 8.0% 20.8% 25.1% 24.0% current minimum requirements capital structure 3Q'26 current target capital structure TCR CBR MREL +4.4pp 2 184 1 250 500 750 3 275 2 184 2 934 2 184 2 184 2 184 2H 26 1H 27 2H 27 1H 28 2H 28 1H 29 2H 29 1H 30 2H 30 1H 31 2H 31 1H 32 2H 32 8.0% 17.8% 16.0%5.4% 7.4% 7.3% 8.0% 20.8% 25.1% 24.0% current minimum requirements capital structure 3Q'26 current target capital structure TCR CBR MREL Instrument maturity profile1 PLN m % DEBT ISSUANCES AND CAPITAL STRUCTURE T2, SNP and SP debt issuances Nominal amount Series Interest rate Issue date Maturity date Optional redemption date SUBORDINATED DEBT (T2) PLN 1 250m A floating, WIBOR 6M+1.5% 30.10.2017 29.10.2027 - PLN 550m B floating, WIBOR 6M+1.5% 15.10.2018 16.10.2028 - PLN 200m C floating, WIBOR 6M+1.8% 15.10.2018 14.10.2033 15.10.2028 PLN 750m E floating, WIBOR 6M+1.85% 04.04.2025 04.04.2035 04.04.2030 EUR 500m 5 4.0101% for the first 5 years and 3 months; floating,EURIBOR 3M+1.55% 27.11.2025 27.02.2036 27.02.2031 EUR 500m 7 4.276% for the first 6 years; floating EURIBOR 3M+1.45% 13.07.2026 13.07.2037 13.07.2032 SENIOR NON-PREFERRED (SNP) AND SENIOR PREFERRED (SP) BONDS PLN 500m SN3 floating, WIBOR 6M+1.60% 26.04.2024 26.04.2029 26.04.2028 EUR 500m ESN1 5.5% in the first 3 years; floating, EURIBOR 3M+2.4% 23.11.2023 23.11.2027 23.11.2026 EUR 500m ESN2 4.0% in the first 5 years; floating, EURIBOR 3M+1.8% 24.09.2024 24.09.2030 24.09.2029 EUR 500m ESN3 3.75% in the first 5 years; floating, EURIBOR 3M+1.65% 04.06.2025 04.06.2031 04.06.2030 EUR 500m ESP4 3.50% in the first 6 years; floating, EURIBOR 3M+1.10% 23.09.2025 23.09.2032 23.09.2031 EUR 750m ESN6 3.625% in the first 3 years; floating, EURIBOR 3M+0.92% 03.06.2026 03.06.2030 03.06.2029
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39Source: Pekao Research forecasts as of October 2026 1 All non-housing loans 2 Deposits + retail customers assets in investment funds units – After the first half of the year, economic growth has accelerated to 3.9 per cent year-on-year. The composition of growth reflects a mature phase of the investment boom (KPO) and an improvement in net exports due to the economic revival in the eurozone. The oil shock will weaken consumption, but only with a time lag (2027) – With inflation shaping up to remain above target throughout most of 2027 it will be difficult for the NBP to resist market pressure. We expect the NBP to hike rates three times, to 4.5% – 2026 is a year of acceleration across all key loan categories, particularly corporate loans (driven by the KPO boom) 2026 OUTLOOK: STABLE GROWTH IN AN UNSTABLE WORLD Economic outlook Banking sector outlook 2025 2026 2027 GDP, % 3.8 4.0 2.9 Private consumption, % y/y 4.0 3.0 2.5 Investments, % y/y 4.9 8.8 6.5 Unemployment, % eop 5.7 5.9 5.8 CPI, % avg 3.6 3.2 4.3 3M Wibor, % eop 3.99 4.16 4.56 Reference rate, % eop 4.00 4.00 4.50 Exchange rate EUR, eop 4.23 4.35 4.30 Exchange rate USD, eop 3.60 3.88 3.79 Public sector balance, % GDP -7.3 -7.1 -7.1 2025 2026 2027 Loans, % y/y 5.5 8.8 8.4 Retail, % y/y 4.1 7.2 7.5 Mortgage loans PLN 8.0 9.3 9.2 Consumer loans1 7.9 8.9 8.5 Corporate, % y/y 9.0 9.7 8.7 Savings2, % y/y 13.8 10.4 9.7 Deposits, % y/y 9.2 10.8 10.1 Retail, % y/y 7.9 10.5 9.5 Corporate, % y/y 14.4 12.0 11.5
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40 PLN M SEP 25 JUN 26 SEP 26 Q/Q% Y/Y% Cash and cash equivalents 16 000 21 210 21 802 2.8% 36.3% Loans and advances to banks 540 380 326 (14.2%) (39.6%) Loans and advances to customers1 194 123 206 561 212 814 3.0% 9.6% Securities2 109 419 121 978 117 290 (3.8%) 7.2% Intangible assets 2 508 2 547 2 619 2.8% 4.4% Tangible fixed assets 2 076 2 299 2 412 4.9% 16.2% Reverse repo transactions 4 706 3 566 6 166 72.9% 31.0% Other assets 3 8 852 9 248 8 868 (4.1%) 0.2% TOTAL ASSETS 338 224 367 789 372 297 1.2% 10.1% Amounts due to other banks 7 319 7 899 5 660 (28.3%) (22.7%) Financial liabilities held for trading 897 823 939 14.1% 4.7% Amounts due to customers 260 165 282 333 284 971 0.9% 9.5% Debt securities issued 18 739 22 889 23 411 2.3% 24.9% Subordinated liabilities 3 604 4 951 7 096 43.3% >100% Other4 14 284 16 001 16 621 3.9% 16.4% Total liabilities 305 008 334 896 338 698 1.1% 11.0% Total equity 33 216 32 893 33 599 2.1% 1.2% 1 Including loans and advances from customers, receivables from finance leases and non-treasury debt securities; 2 Excluding non-treasury debt securities; 3 Including: Investments in associates; 4 Including: reverse repo transactions CONSOLIDATED BALANCE SHEET
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41 PLN M 3Q 25 2Q 26 3Q 26 Q/Q% Y/Y% 9M 25 9M 26 Y/Y% Net interest income1 3 430 3 302 3 525 6.8% 2.8% 10 290 10 139 (1.5%) Net fee and commission income 767 832 853 2.5% 11.2% 2 264 2 514 11.0% Operating income 4 309 4 420 4 301 (2.7%) (0.2%) 12 810 12 842 0.2% Operating costs2 (1 362) (1 476) (1 467) (0.6%) 7.7% (4 067) (4 370) 7.5% Personnel cost (805) (884) (846) (4.3%) 5.1% (2 437) (2 555) 4.8% Non-personnel cost & depreciation (557) (592) (621) 4.9% 11.5% (1 630) (1 815) 11.3% OPERATING PROFIT 2 947 2 944 2 834 (3.7%) (3.8%) 8 743 8 472 (3.1%) Provisions (240) (248) (332) 33.9% 38.3% (624) (769) 23.2% Costs of legal risk of foreign currency mortgage loans (18) (66) 9 (113.6%) (150.0%) (376) (80) (78.7%) Guarantee funds charges (25) 0 0 - (100.0%) (358) (417) 16.5% Banking tax (213) (224) (226) 0.9% 6.1% (644) (669) 3.9% PROFIT BEFORE INCOME TAX 2 450 2 411 2 286 (5.2%) (6.7%) 6 736 6 545 (2.8%) Income tax (544) (894) (769) (14.0%) 41.4% (1 542) (2 278) 47.7% GROUP NET INCOME 3 1 905 1 516 1 516 0.0% (20.4%) 5 191 4 264 (17.9%) 1 NII excl. dividends and other income from equity investments; 2 Costs excl. guarantee funds charges and regulator; 3 Net profit attributable to equity holders of the Bank Note: Data as reported CONSOLIDATED INCOME STATEMENT
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42 3Q 25 2Q 26 3Q 26 Q/Q NET Y/Y NET 9M 25 9M 26 Y/Y NET ROE (%) 23.7% 17.6% 18.2% 0.60 (5.44) 21.5% 16.5% (5.06) ROA (%) 2.2% 1.7% 1.6% -0.03 (0.60) 2.1% 1.6% (0.49) NIM (%) 4.15% 3.77% 3.89% 0.13 (0.26) 4.23% 3.86% (0.37) L/D (%) 68.7% 66.6% 67.5% 0.86 -1.26 68.7% 67.5% -1.26 Cost/Income Ratio (%) 31.6% 33.4% 34.1% 0.71 2.50 31.7% 34.0% 2.28 Cost/Income Ratio inc. BGF (%) 32.2% 33.4% 34.1% 0.71 1.92 34.5% 37.3% 2.73 Cost of Risk (%) 0.49% 0.47% 0.61% 0.14 0.13 0.43% 0.49% 0.05 TCR 17.0% 16.8% 17.8% 1.00 0.80 17.0% 17.8% 0.80 Tier 1 15.6% 14.8% 14.7% (0.08) (0.83) 15.6% 14.7% (0.83) KEY PERFORMANCE INDICATORS
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43 BANK SEP 25 JUN 26 SEP 26 Q/Q% Y/Y% Outlets 565 557 556 (0.2%) (1.6%) ATM's 1 332 1 396 1 413 1.2% 6.1% Employees1 13 803 13 601 13 529 (0.5%) (2.0%) No of PLN current accounts (ths)2 8 906 9 245 9 365 1.3% 5.2% No of mortgage loan accounts (ths)3 338 327 325 (0.6%) (3.7%) No of clients holding a consumer loan accounts (ths)4 582 575 582 1.2% (0.0%) Number of individuals acitive users electronic banking Pekao24 (ths)5 4 068 4 460 4 524 1.4% 11.2% Number of individuals with an access to mobile banking (ths)5 5 770 5 932 6 033 1.7% 4.5% GROUP SEP 25 JUN 26 SEP 26 Q/Q% Y/Y% Employees 15 077 14 781 14 725 (0.4%) (2.3%) Number of MF accounts (ths) 874 962 987 2.6% 12.9% Number of Brokerage accounts (ths) 207 211 214 1.5% 3.7% 1 In 2Q’25, the Bank acquired an organized part of the enterprise from Pekao Direct, resulting in the transfer of 1,420 employees to the Bank; 2 Number of accounts including pre-paid card accounts; 3 Retail clients’ accounts; 4 Pożyczka Ekspresowa (Express Loan) and Pożyczka Ekspresowa Business (Express Business Loan); 5 Including individuals and micro companies SELECTED DATA
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44 Mutual funds - volumes Pekao Investment Management S.A. PLN m % 6.8% 17.3% 68.5% 7.4% Equity funds Third party funds distributed by the Group Pekao Investment Management S.A. Balance funds Money and bonds funds Employee Capital Programs Sep 25 Jun 26 Sep 26 +21.2% +2.8% 33 681 39 293 40 372 4 011 5 133 5 31737 692 44 426 45 689 6.8% 17.3% 68.5% 7.4% Equity funds Third party funds distributed by the Group Pekao Investment Management S.A. Balance funds Money and bonds funds Employee Capital Programs Sep 25 Jun 26 Sep 26 +21.2% +2.8% 33 681 39 293 40 372 4 011 5 133 5 31737 692 44 426 45 689 MUTUAL FUNDS DISTRIBUTED BY THE GROUP
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45 RATINGS OF BANK PEKAO S.A. 30.09.2026 PEKAO POLAND FITCH RATINGS Long-term rating (IDR) BBB+ A- Short-term rating F2 F1 Viability rating bbb+ - Outlook Stable Negative PEKAO POLAND S&P GLOBAL RATINGS Long-term rating A- A- Short-term rating A-2 A-2 Stand-alone bbb+ - Outlook Stable Stable PEKAO POLAND MOODY’S INVESTORS SERVICE LTD unsolicited rating Long-term rating A2 A3 Short-term rating Prime-1 Prime-1 BCA baa2 – Outlook Stable Stable ESG RATINGS Institution ESG Ratings MSCI A FTSE Russell 3.5 Morningstar Sustainalytics 19.5 low risk S&P CSA 45/100 ISS ESG C
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20% 13% 5% 5% 57% PZU S.A. PFR S.A. NN OFE Allianz OFE Other ISIN: PLPEKAO00016 Bloomberg: PEO PW Reuters: PEO.WA -100 -50 0 50 100 150 200 250 300 350 Pekao Eurostoxxx Banks 600 Jan - 20 Apr - 20 Jul - 20 Oct - 20 Jan - 21 Apr - 21 Jul - 21 Oct - 21 Jan - 22 Apr - 22 Jul - 22 Oct - 22 Jan - 23 Apr - 23 Jul - 23 Oct - 23 Jan - 24 Apr - 24 Jul - 24 Oct - 24 Jan - 25 Apr - 25 Jul - 25 Oct - 25 Jan - 26 Apr - 26 Jul - 26 Oct - 26 SHAREHOLDERS: DIVERSIFIED SHAREHOLDER BASE 46 Shareholding structure Listing and valuation TSR Performance vs. sector (%)1 – The second largest bank in terms of assets (PLN 372 bn) and third largest bank in Poland in terms of market capitalization (PLN 67 bn) – Member of several local and global indices: WIG Banki, WIG 20, WIG 30, MSCI Emerging Markets, STOXX Europe 600 Index, FTSE Developed Equity Index, FTSE4Good – Reliable dividend payer: ~ PLN 24 bn dividend paid out over last decade – P/BV’26: 2.1x, P/E’26: 11.8x1 1 Bloomberg as of 22th of October 2026. Consensus based on our own calculations. PZU Group is the largest insurance and banking group in CEE. ~561 bn PLN of assets. More than 22 million clients in 5 countries Polish Development Fund (PFR) is a group of financial and advisory institutions supporting companies, local governments and individuals
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47 CONTACT DETAILS Q&A RELATED TO THE PRESENTATION: Marcin Jabłczyński Head of Investor Relations ph.: +48 722 034 633 e-mail: marcin.jablczynski@pekao.com.pl Joanna Zaleska ph.:+48 517 152 561 e-mail: joanna.zaleska@pekao.com.pl Iwona Milewska ph.: +48 691 202 645 e-mail: iwona.milewska@pekao.com.pl FINANCIAL CALENDAR 19 February 2026 Annual Report 2025 and Webcasting 30 April 2026 First Quarter Report and Webcasting 30 July 2026 Semi-annual Report and Webcasting 29 October 2026 Third Quarter Report and Webcasting INVESTOR RELATIONS TEAM: CONTACT AND CALENDAR
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48 This presentation (the ”Presentation”) has been prepared by Bank Polska Kasa Opieki Spółka Akcyjna (“Bank”) for the clients. shareholders and financial analysts. The Presentation should not be treated as an offer or invitation to purchase any securities or financial instruments or as advice or recommendation in respect to such securities or financial instruments. The presented data are only general information and does not refer to an offer by the Bank for products or services. In order to take advantage of the services and products of the Bank. one should be thoroughly familiar with the characteristics of the particular service or product. its rules. risks and legal and tax consequences of the use of particular services or products. The strategy presented in the Presentation contains goals which are the ambition of the Management Board and do not constitute any financial results forecast. Rights for the Presentation as a whole are reserved to the Bank. The Presentation is subject to the protection provided by law. in particular: the Act dated 4 February 1994 on Copyright and Related Rights (consolidated text in Journal. Laws of 2006. No. 90. item. 631. as amended); the Act dated 27 July 2001 on the protection of Databases (Journal of Laws No. 128. item. 1402. as amended); the Act dated 16 April 1993 on Combating Unfair Competition (consolidated text in Journal of Laws of 2003 . No. 153. item 1503. as amended) and the Act dated 30 June 2000 on Industrial Property Law (consolidated text in Journal. Laws of 2003. No. 119. item. 1117. as amended). The Presentation may include forward looking statements. the Bank’s outlook for the future. future plans and strategies or anticipated events that are not historical facts. Since these statements are based on assumptions. expectations. projections and provisional data about future events. the content is inherently uncertain. Factors that could cause or contribute to differences in current expectations include. but are not limited to: (i) general economic conditions. among which the economic conditions of the business areas and the markets in which the Bank and its subsidiaries operate. (ii) the performance of financial markets (iii) changes in laws or regulations and (iv) general competitive conditions locally. regionally. nationally and/or internationally. The Bank does not undertake to publish any updates. modifications or revisions of the information. data or statements contained herein should there be any change in the strategy or intentions of the Bank. or should facts or events occur that affect the Bank’s strategy or intentions. unless such reporting obligations arise under applicable laws and regulations. Neither the Bank. nor any of its representatives shall be responsible for any loss or damage that may arise from the use of the Presentation or of any information contained herein or otherwise arising in connection to this Presentation. This presentation is not for distribution in or into countries where the public dissemination of the information contained herein may be restricted or prohibited by law. DISCLAIMER