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Investor Presentaiton

Covered Bonds rating among Polish issuers Moody's/Fitch / S&P Ratings as of 30.08.2022 relation to sovereign rating m mBank -/BBB-/BBB -/Negative/Developing mBank Hipoteczny Moody's Fitch S&P Baa2 ... BBB ... BBB relation to issuer rating Poland Long Term Country ceiling Mortgage Covered Bonds 1 Aal/-/- Baal/-/- +6 Stable/-/- Pekao SA Mortgage Covered Bonds A2/BBB+/BBB+ Stable/Negative/Stable Pekao BH -/A-/- -/Negative/- -/BBB+/- -/Negative/- +1 PKO Bank Polski A3/-/- Stable/-/- PKO Bank Hipoteczny ¦ +5 +5 +5 Mortgage Covered Bonds Aal/-/- A3/-/- Stable/-/- ING Bank Hipoteczny | ING Bank A3/-/- A2/A+/- Mortgage Covered Bonds Aal/-/- Stable/-/- Stable/Stable/- +5 +5 A2 Al Aa3 Aa2 Aal г- A A+ AA- AA AA+ A A+ AA- AA AA+ Baal A3 BBB+ A- BBB+ A- Covered Bonds Investor Presentation 27
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