Powszechny Zakład Ubezpieczeń (PZU) investor relations material

Opening remarks and agenda

• Extraordinary meeting opened on 3 November; shareholders were briefed on tablet voting, including the finality of a confirmed vote.

• The eight-item agenda included linked votes on amending the Articles of Association and authorizing subordinated capital bonds; the bond vote depended on approval of the amendment.

Specific resolutions to be voted on

• Resolution 1 elected Andrzej Herbet as meeting chair; it passed by confidential ballot.

• Resolution 2 adopted the eight-item agenda: 599,811,984 votes for, none against, and 42,695 abstentions; votes represented 69.4659% of share capital.

• Resolution 3 amended the Articles to permit capital-bond issuance; it passed, subject to registration of the amendment in the National Court Register.

• Resolution 4 approved a framework for up to PLN 3 billion in domestic subordinated capital bonds; the resolution passed.

• A further resolution authorized possible claims for damage allegedly caused by a former management board member; it was adopted by secret ballot and did not determine the merits of any claim.

Board and executive committee updates

• Management cited commissioned legal advice that the Articles had to be amended before the proposed capital bonds could be issued.

• The CFO said existing subordinated debt of PLN 2.25 billion matures in July 2027; refinancing requires shareholder approval, Supervisory Board review, and registration of the amended Articles.

• Management said internal procedures detected irregularities in a loss-settlement process and that suspected infringement had been reported to law enforcement.