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240 220 200 180 160 140 120 100 80 LL/LO Stable and growing residential market in Poland House price dynamics in the CEE – higher volatility in Poland Q1/12 Euro area EA19 Czech Republic - Hungary Q1/16 Q1/17 81/LO 6L/LO Poland Q1/20 Q1/21 Romania 15.000 Q1/22 10.000 5.000 0.000 - 5.000 Quartile 1-3 ● Median Housing prices on the primary and secondary market in Poland have changed over the years. Higher volatility of house price dynamics driven by strong demand and limited supply - 10.000 Poland Euro area Czech Republic Hungary Romania index, 2015=100; Distribution of population by tenure status in selected countries Dwellings per 1,000 citizens 5% 13% 14% 16% 9% 21% 24% Owner 31% 46% Rental 22% 24% Mortgage 46% 94% 73% 76% 41% 57% 45% 31% 13% Romania POLAND Hungary Czech Spain Austria Denmark Republic Source: Eurostat Covered Bonds Investor Presentation 549 518 463 464 480 489 400 Source: Eurostat Mortgage penetration in Poland remains low while home ownership rates are among the highest in Europe. POLAND Hungary Denmark Czech Republic Belgium Germany France Source: Deloitte Property Index 2022 41

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