Investor Presentaiton

Disclaimer This Presentation contains certain statistical and market information relating to the banking sector in Poland, including information on the market share of certain banks and the Bank. Unless attributed exclusively to another source, such market information has been calculated based on data provided by third party sources identified herein and includes estimates, assessments, adjustments and judgments that are based on the Bank's experience and familiarity with the sector in which the Bank operates. Because such market information has been prepared in part based upon estimates, assessments, adjustments and judgments and not verified by an independent third party, such market information is, unless otherwise attributed to a third party source, to a certain degree subjective. While it is believed that such estimates, assessments, adjustments and judgments are reasonable and that the market information prepared is appropriately reflective of the sector and the markets in which the Bank operates, there is no assurance that such estimates, assessments and judgments are the most appropriate for making determinations relating to market information or that market information prepared by other sources will not differ materially from the market information included herein. The Presentation contains forward-looking statements. All statements other than statements of historical fact included in the Presentation are forward-looking statements. Any historical information is not indicative of future performance. Forward-looking statements give the Bank's current expectations and projections relating to its financial condition, results of operations, plans, objectives, future performance and business. These statements may include, without limitation, any statements preceded by, followed by or including words such as "target," "believe," "expect," "aim," "intend," "may," "anticipate," "estimate," "plan," "project," "will," "can have," "likely," "should," "would," "could" and other words and terms of similar meaning or the negative thereof. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the Bank's control that could cause the Bank's actual results, performance or achievements to be materially different from the expected results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the Bank's present and future business strategies and the environment in which it will operate in the future. No representation, warranty or undertaking, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the Presentation or the opinions contained therein or the assumptions on which such opinions are based. The Presentation has not been independently verified (including review and verification of any rating agency, government entity, regulatory body or listing authority) and will not be updated. The Presentation, including but not limited to forward-looking statements, applies only as of the date of this document and is not intended to give any assurances as to future results. The Bank expressly disclaims any obligation or undertaking to disseminate any updates or revisions to the Presentation, including any financial data or forward-looking statements, and will not publicly release any revisions it may make to the Presentation that may result from any change in the Bank's expectations, any change in events, conditions or circumstances on which these forward-looking statements are based, or other events or circumstances arising after the date of this document. Market data used in the Presentation not attributed to a specific source are estimates of the Bank and have not been independently verified. This Presentation does not purport to identify all of the risks (direct or indirect) and information which may be associated with any decision relevant in respect of an offering of the Securities. Nothing in this Presentation should be construed as legal, tax, regulatory, accounting or investment advice. The distribution of this Presentation in certain jurisdictions may be restricted by law and persons into whose possession this Presentation or any document or other information referred to herein comes should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. This Presentation and any materials distributed in connection with this Presentation are not directed to, or intended for distribution to or use by, any person or entity that is a citizen or resident or located in any locality, state, country or other jurisdiction where such distribution, publication, availability or use would be contrary to law or regulation or which would require any registration or licensing within such jurisdiction. The Bank and the Dealer do not accept any liability to any person in relation to the distribution or possession of this Presentation in or from any jurisdiction. 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