Investor Presentaiton

✓ Positive changes in Polish Covered Bonds Law The Act does not significantly change the model of operation of mortgage banks in Poland. It focuses mainly only on the issues of the necessary implementation of the provisions of the CB Directive. In line with the demands of the mortgage bank environment, the statutory overcollateralisation level was reduced from 110% to 105% and the portfolio limit for credit exposures with LtV exceeding 60% was eliminated. Fundamental changes in 2022 revision of the Act on Covered Bonds and Mortgage Banks implements the provisions of EU Directives on the issue of covered bonds and covered bond public supervision. Act entered into force on 8 July 2022 Improvements: ✓ Additional rules of supervision obligation to submit annual activity reports by the trustee to the Polish Financial Supervision Authority • obligation to submit annual reports by the mortgage bank to the Polish Financial Supervision Authority Improved standards and increased transparency • ✓ Changes the rules of maintaining liquidity buffer ✓ Changes in Cover Pool Register Covered Bonds Investor Presentation • • • • introducing regulations concerning the imposition of administrative penalties by the Polish Financial Supervision Authority on issuers and persons acting on their behalf defines the core characteristics required for a covered bond programme defines statutory requirements for quarterly disclosures on the issuer's website introduction of the protected labels "European Covered Bond" and "European Covered Bond (Premium)" maximum cumulative net liquidity outflows over 180 days formalisation of potential bond maturity extension clauses minimum legal overcollateralization requirement (OC) - 5% defines standards for the registration of derivatives in the Cover Pool Register 50

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