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Acquisition of Core Bank BPH 133 [ ]” / 1.06Cm 166 143 [ ]” / 1.90Cm 241 234 187 217 39 221

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Acquisition of Core Bank BPH 133 [ ]” / 1.06Cm 166 143 [ ]” / 1.90Cm 241 234 187 217 39 221 5.30” / 0.13” /0.13” / 0.33cm 5.30” / 13.46cm 0.33cm 13.46cm DORSUM2015\02 Presentations and Documents\39 Investor Presentation\Investor Presentation 41 (DRAFT C).pptx 132 125 Secondary 0 84 Body Text Chart Colours 58 96 255 224 Background 255 197 255 203 235 202 Lines 231 202 [ ]” / 5.96cm 232 202 [ ]” / 5.17cm 125 247 Heading Boxes 0 214 58 125 Primary Six 125 236 Chart Colours 0 222 Page Setup 58 200 Width: 29.7cm 203 198 (11.69”) 159 206 Height: 21.0cm 169 116 (8.27”) Prints as A4 166 177 166 Acquisition of Core Bank BPH 133 [ ]” / 1.06cm 166 143 [ ]” / 1.90cm 241 234 187 217 39 221 223 219 200 219 163 219 137 249 145 228 51 169 [ ]” / 8.04cm 0 [ ]” / 9.74cm 5.30” / 0.13” /0.13” / 0.33cm 5.30” / 13.46cm 0.33cm 13.46cm DORSUM2015\02 Presentations and Documents\39 Investor Presentation\Investor Presentation 41 (DRAFT C).pptx 132 125 Secondary 0 84 Body Text TRANSACTION HIGHLIGHTS Chart Colours 58 96 255 224 Background 255 197 255 203 235 202 Lines 231 202 [ ]” / 5.96cm 232 Acquisition of 87% of Core Bank BPH from GE with c.PLN8.5bn of net loans (excluding, inter alia, entire 202 mortgage portfolio – PLN, CHF and other currencies, and BPH TFI) and PLN1,646m TBV, valuing Core [ ]” / 5.17cm 125 Bank at PLN1,532m (implied P/TBV of 0.93x). The proposed price assumes additional reserves of 247 Heading Boxes 0 214 58 PLN123m to be in place in Core Bank BPH as well as covering all costs associated with Business 125 Transformation Plan measures announced in December 2015 (212 m PLN) Primary Six 125 236 Chart Colours 0 Transaction via a Tender Offer for Bank BPH shares including free float, with a subsequent demerger of 222 58 200 Page Setup Core Bank BPH (as an organised part of the enterprise) Width: 29.7cm 203 198 (11.69”) 159 Significant synergy potential with fully phased synergies pre-tax of c. PLN 300 m per annum*, in addition 206 Height: 21.0cm 169 to c.PLN160m savings from already announced measures from Business Transformation Plan 2015. 116 (8.27”) Prints as A4 166 Integration costs amounting to: base case PLN 650 m, BPH most conservative estimate PLN 950 m 177 166 133 [ ]” / 1.06cm 166 Acquisition to be financed by rights issue 143 [ ]” / 1.90cm 241 Capital increase right sized to provide optimal capital position of the combined entity estimated at above 234 187 10.75% CET1 ratio and 13.75% CAR 217 39 221 ** 223 Estimated Core Bank BPH PBT with fully phased-in synergies of c. PLN 0.3bn 219 200 219 163 Acquisition will be significantly EPS accretive in 2019 and EPS accretive in 2018 pre-restructuring costs 219 137 Expected completion by end of Q4 2016 249 145 228 51 169 Another step to become top 5-6 bank in Poland by [ ]” / 8.04cm active participation in consolidation process. *including revenue dis-synergies ** assuming PLN 1 bn of total revenues, PLN 0.85 bn of estimated operating cost base, costs of risk assumed as 165 bp of net loans as well as target net synergies before tax equal to PLN 0,3 bn. 1 [ ]” / 9.74cm 5.30” / 0.13” /0.13” / 0.33cm 5.30” / 13.46cm 0.33cm 13.46cm DORSUM2015\02 Presentations and Documents\39 Investor Presentation\Investor Presentation 41 (DRAFT C).pptx 132 125 Secondary 0 84 Body Text CORE BANK BPH – HIGHLY SYNERGISTIC ASSET Chart Colours 58 96 255 224 Background 255 197 255 203 235 202 Lines 231 Core Bank BPH 202 [ ]” / 5.96cm 232 (estimated as at 30-Sep-2015) 202 [ ]” / 5.17cm 125 247 Heading Boxes 0 Core Bank BPH: Bank BPH excluding the entire c. PLN 1,646m 214 58 mortgage portfolio (PLN, CHF and other Tangible Equity Value 125 currencies), related parent funding, and assets @ 13.25% Tier 1 ratio Primary Six 125 236 Chart Colours 0 and liabilities related to BPH TFI 222 Page Setup 58 Net Customer Loans c. PLN 8.5bn 200 Width: 29.7cm The excluded assets and liabilities are to remain 203 with GE 198 (11.69”) 159 206 Height: 21.0cm 169 Customer Deposits c. PLN 12.1bn 116 (8.27”) Bank BPH to implement the announced measures Prints as A4 166 of the Business Transformation Plan ahead of the 177 166 acquisition c. PLN 1.0bn 133 [ ]” / 1.06cm 166 Operating Income 143 (annualised) [ ]” / 1.90cm 241 Healthy asset with no legacy issues: 234 187 217 39 Large retail customer base with limited overlap Est. Oper. Cost Base c. PLN 0.85bn¹ 221 with Alior 223 219 200 Focus on consumer finance and SME/corporate c.500k3 / 2.5 million 219 163 Customers 219 loans fitting into Alior’s business model customer leads 137 249 145 Clean balance sheet and good asset quality 228 51 Total Branch Footprint 440² 169 Strong capitalisation at 13.25% Tier 1 ratio [ ]” / 8.04cm Employees 5,233² ¹ Expected post implementation of Business Transformation Plan. 2 Total BPH Bank as at FY2015. 2 [ ]” / 9.74cm 3 Estimated including potential attrition 5.30” / 0.13” /0.13” / 0.33cm 5.30” / 13.46cm 0.33cm 13.46cm DORSUM2015\02 Presentations and Documents\39 Investor Presentation\Investor Presentation 41 (DRAFT C).pptx 132 125 Secondary 0 84 Body Text ACQUISITION OF CORE BANK BPH FOR PLN1,532M Chart Colours 58 96 255 TRANSACTION STRUCTURE (1/3) 224 Background 255 197 255 203 235 202 Lines 231 202 [ ]” / 5.96cm 232 1 Current Situation Acquisition Overview 202 [ ]” / 5.17cm 125 The purchase price for 87,23% interest in Core Bank BPH held 247 Heading Boxes 0 Alior Free BPH Free 1 214 PZU GE by GE amounts to PLN 1,225 m subject to adjustments 58 Float Float 125 Valuation of 100% Core Bank BPH amounts to PLN 1,532 m 125 236 Primary Six 12.8% 87.2% Implied P/TBV of c.0.93x Chart Colours 0 222 All assets excluding Mortgage Portfolio, parent funding and Page Setup 58 200 subordinated debt and assets and liabilities related to BPH TFI . Width: 29.7cm 203 Alior will not be assuming any risks related to CHF 198 (11.69”) 159 mortgage portfolio 206 Height: 21.0cm 169 Alior Bank Bank BPH 116 (8.27”) The proposed price assumes additional reserves of PLN123m to be in place in Core Bank BPH as well as covering all costs Prints as A4 166 177 associated with Business Transformation Plan measures 166 133 [ ]” / 1.06cm announced in December 2015. This represents an additional 166 143 2 Signing the Transaction economic value to Alior Conditions [ ]” / 1.90cm 241 234 Regulatory approvals 187 217 39 Bank BPH Approval of the Demerger Plan by Bank BPH and Alior and 221 approval of the Demerger by Bank BPH 223 219 Alior EGM approval for Rights Issue (end of April) 200 219 163 Protection mechanisms for Alior from any risks related to 219 mortgage portfolio in the interim period 137 Core Bank Mortgage 249 PLN1,532m Alior to continue to operationally service the mortgage portfolio. 145 BPH Bank BPH 228 51 Expected service fee and related operating costs expected to 169 approximately offset each other GE to provide transitional services until completion of [ ]” / 8.04cm separation from GE, including IT systems ¹ Adjustments related mainly to tangible equity value at Closing 3 [ ]” / 9.74cm 5.30” / 0.13” /0.13” / 0.33cm 5.30” / 13.46cm 0.33cm 13.46cm DORSUM2015\02 Presentations and Documents\39 Investor Presentation\Investor Presentation 41 (DRAFT C).pptx 132 125 Secondary 0 84 Body Text RIGHTS ISSUE TO FINANCE THE ACQUISITION AND Chart Colours 58 96 SUPPORT CAPITAL POSITION 255 224 Background 255 TRANSACTION STRUCTURE (2/3) 197 255 203 235 202 Lines 231 202 [ ]” / 5.96cm 232 202 3 Rights Issue Rights Issue Overview [ ]” / 5.17cm 125 247 Heading Boxes 0 Size of the rights issue to be announced shortly 214 58 125 The final number of shares to be issued in the rights issue Alior Free Float PZU Primary Six 125 and the issue price will be determined at the later stage of 236 0 222 Chart Colours the transaction Page Setup 58 200 Width: 29.7cm New Shares 203 198 (11.69”) 159 206 Height: 21.0cm 169 116 (8.27”) Rights Issue Timetable Prints as A4 166 177 166 133 [ ]” / 1.06cm 166 Capital Capital 143 Date [ ]” / 1.90cm 241 234 187 Convening of the EGM to Approve the 217 Alior April 39 Rights Issue 221 223 219 200 End of April Alior EGM approval 219 163 219 Intended in 137 Closing 249 145 June 228 51 169 [ ]” / 8.04cm 4 [ ]” / 9.74cm 5.30” / 0.13” /0.13” / 0.33cm 5.30” / 13.46cm 0.33cm 13.46cm DORSUM2015\02 Presentations and Documents\39 Investor Presentation\Investor Presentation 41 (DRAFT C).pptx 132 125 Secondary 0 84 Body Text TENDER OFFER & DEMERGER – EXECUTION STAGE Chart Colours 58 96 255 TRANSACTION STRUCTURE (3/3) 224 Background 255 197 255 203 235 202 Lines 231 202 [ ]” / 5.96cm 232 4 Tender Offer Transaction Structure Overview 202 [ ]” / 5.17cm 125 Shares Transaction via a Tender Offer for Bank BPH shares, with a 247 Heading Boxes 0 subsequent demerger of Core Bank BPH. Alior’s shares in Bank 214 58 Consideration BPH will cease to exist 125 Shares After the Completion of the Tender Offer, Alior will temporarily 125 Bank BPH 236 Primary Six Alior GE be the majority shareholder in Bank BPH.
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