Consolidated Financial Statements of Bank Pekao S.A. Capital Groupfor the Year Ended On31 December 2009

Consolidated Financial Statements of Bank Pekao S.A. Capital Groupfor the Year Ended On31 December 2009

Report on the activities of Bank Pekao S.A. Group for the first half of 2021 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 referred to in matters of interpretation. Warsaw, August 2021 Report on the activities of Bank Pekao S.A. Group for the first half of 2021 1. Highlights of Bank Pekao S.A. Group .............................................................................................................................................................................rok3 2. Highlights of Bank Pekao S.A. .........................................................................................................................................................................................4 3. Summary of Performance .................................................................................................................................................................................................5 4. External Activity Conditions .............................................................................................................................................................................................7 5. Important Events and Achievements ........................................................................................................................................................................... 13 Description of the Group ........................................................................................................................................................................................... 13 Changes in the Group’s structure ............................................................................................................................................................................. 13 Changes in the Statutory Bodies of the Bank ........................................................................................................................................................... 13 The Bank’s share capital and share ownership structure ......................................................................................................................................... 21 Financial credibility ratings ........................................................................................................................................................................................ 22 6. Activity of Bank Pekao S.A. Group ............................................................................................................................................................................... 24 Achievements of Bank Pekao S.A. ........................................................................................................................................................................... 24 Achievements of subsidiaries ................................................................................................................................................................................... 35 Awards and distinctions ............................................................................................................................................................................................ 37 Factors which will affect the results of the Group ..................................................................................................................................................... 38 Description of major sources of risk and threats relating to the remaining months of 2021 .................................................................................... 39 7. Human Resources Management ................................................................................................................................................................................... 40 8. Statement of Financial Position and Financial Results .............................................................................................................................................. 43 The consolidated income statement – presentation form ......................................................................................................................................... 44 Net allowances for expected credit losses ............................................................................................................................................................... 48 The structure of the net profit .................................................................................................................................................................................... 49 Structure of the consolidated statement of financial position – short form ............................................................................................................... 52 Provisions, deferred tax assets and liabilities ........................................................................................................................................................... 57 Off–balance sheet items ........................................................................................................................................................................................... 57 Capital adequacy ...................................................................................................................................................................................................... 58 Reconciliation of income statement – presentation form and long form .................................................................................................................. 60 9. Quarterly Income Statement .......................................................................................................................................................................................... 62 Consolidated income statement – long form ............................................................................................................................................................ 62 Consolidated statement of comprehensive income .................................................................................................................................................. 63 Consolidated income statement – presentation form ............................................................................................................................................... 64 10. Other Information............................................................................................................................................................................................................ 65 Management Board position regarding the possibility of achieving previously published forecasts ....................................................................... 65 Shares in the Bank and related entities held by the Bank's Directors ...................................................................................................................... 65 Pending litigations ..................................................................................................................................................................................................... 65 Information on derivative financial instruments and hedge accounting ................................................................................................................... 65 Related party transactions ........................................................................................................................................................................................ 65 Accounting principles adopted in the preparation of the report ................................................................................................................................ 65 Seasonality or cyclical nature of the Bank’s activity ................................................................................................................................................. 65 Issuance, redemption and repayment of debt securities .......................................................................................................................................... 65 Information on dividend and appropriation of profit achieved .................................................................................................................................. 66 Subsequent events ................................................................................................................................................................................................... 69 11. Representations of the Bank’s Management Board on reliability of the presented financial statements ........................................................... 70 2 Bank Pekao S.A. Report on the activities of Bank Pekao S.A. Group for the first half of 2021 1. Highlights of Bank Pekao S.A. Group rok 1 HALF 2021 1 HALF 2020 2020 2019 INCOME STATEMENT – SELECTED ITEMS (in PLN million) Operating income 4,133 4,098 7,813 8,282 Operating costs (1,983) (1,831) (3,468) (3,537) Profit before income tax 1,197 841 1,725 3,002 Net profit for the period attributable to equity holders of the Bank 850 546 1,102 2 165 PROFITABILITY RATIOS Return on average equity (ROE) - nominally 6.7% 4.6%

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