Bank Polska Kasa Opieki S.a. · GPW:PEO
Bank Polska Kasa Opieki — Bank Polska Kasa Sa Ord — Q2 2026 Earnings Presentation
50 slides from Bank Polska Kasa Opieki's earnings presentation, Jul 30, 2026
Slide 1: 1H'26 Financial Results
1H’26 FINANCIAL RESULTS STRONG COMMERCIAL VOLUME GROWTH OFFSETS GEOPOLITICAL AND REGULATORY RISKS Warsaw, July 30th, 2026
Slide 2: Strong Commercial Volume Growth Offsets Geopolitical and Regulatory Risks
STRONG COMMERCIAL VOLUME GROWTH OFFSETS GEOPOLITICAL AND REGULATORY RISKS Nominal net profit Lending Strong growth Robust capital 2.748 bn PLN (+10% y/y) rates position and (-16% y/y) and fee and in digital comfortable MREL 6M’26 commission income channels levels, revival (+11% y/y) further strength
Slide 3: Agenda
01. KEY ACHIEVEMENTS - FINANCIALS 02. BUSINESS ACHIEVEMENTS 03. MACRO & FINANCIAL RESULTS 04. APPENDIX 2
Slide 4: Key Achievements
KEY ACHIEVEMENTS Net profit ROE C/I incl./excl. BFG Tier 1 with annualised nominal (6M’26) BFG cost (6M’26) (6M’26) PLN 2.748 bn 16.8% 36.4 %/ 1 14.8% -16% y/y 34.0% Assets Financing CoR NPL portfolio (6M’26) (6M’26) PLN bn 368 PLN 214 bn 42 bps 4.4% +8% y/y +10% y/y 1 C/I with annualised BFG cost 3
Slide 5: Double-Digit Growth in Lending in Key Strategic Segments
DOUBLE-DIGIT GROWTH IN LENDING IN KEY STRATEGIC SEGMENTS Cash loan Micro financing MID+SME financing volume volume volume PLN bn PLN bn PLN bn +14.8% +15.0% +14.3% 48.7 42.7 15.5 13.5 6.1 5.3 Jun 25 Jun 26 Jun 25 Jun 26 Jun 25 Jun 26 4
Slide 6: All Business Segments Contributed to 1H26 Performance
ALL BUSINESS SEGMENTS CONTRIBUTED TO 1H26 PERFORMANCE 6M’26 (vs 6M’25) Retail Enterprise Corporate banking banking banking +16% New sales of cash loans (net) +29% New sales of MID financing +28% Custody +29% New sales of mortgage loans +19% Fees in SME segment +17% Portfolio of LARGE clients +13% Ne
Slide 7: Key Achievements - Financials
01. KEY ACHIEVEMENTS - FINANCIALS 02. BUSINESS ACHIEVEMENTS 03. MACRO & FINANCIAL RESULTS 04. APPENDIX 6
Slide 8: Implementation of Bank Pekao's Strategy Is Underway
IMPLEMENTATION OF BANK PEKAO’S STRATEGY IS UNDERWAY Strategic goals 6M’26 2027 of Bank Pekao Execution Target ROE (%) 15.7/16.81 >182 ...the only way is up! C/I (%, incl./excl. BGF) 36.43/34.0 <35 CoR (bps) 42 65-75 Bank Pekao Strategy 2025-2027 Dividend4 (%) 755 50-75 Growth Accessibility Efficienc
Slide 9: We Systematically Expand Our Offer for Our Clients
WE SYSTEMATICALLY EXPAND OUR OFFER FOR OUR CLIENTS Retail Enterprise & Corporate banking banking • Travel Rewards Program – loyalty program • Prepaid Mastercard Cards for SMEs • eoBIZ 2.0 – strong growth in mobile P rewarding everyday card payments, offering – expansion of the SME offering with app
Slide 10: Continued Growth in Active Mobile Banking Customers
CONTINUED GROWTH IN ACTIVE MOBILE BANKING CUSTOMERS – IN 1H26 AN INCREASE OF 114 THOUSAND ACTIVE USERS Active mobile banking customers 1st place – best internet banking, m best private banking 2nd place – best mobile banking +7% +1% – Mobile app enhancements – introduction of financial – Implementat
Slide 11: We Consistently Support Development of Our Clients
WE CONSISTENTLY SUPPORT DEVELOPMENT OF OUR CLIENTS Transactions 750 m EUR 750 m EUR 210 m PLN 88 m EUR 2 bn EUR GREEN BONDS 7Y 500 m EUR LOAN FOR LOCAL GOVERNMENT UNITS INVESTMENT LOAN EUROBONDS 8Y & 15Y SNP 4NC3, TIER 2 11NC6 Joint Bookrunner Joint Lead Manager Lender Joint Bookrunner Lender 850 m
Slide 12: Business Achievements
01. KEY ACHIEVEMENTS - FINANCIALS 02. BUSINESS ACHIEVEMENTS 03. MACRO & FINANCIAL RESULTS 04. APPENDIX 11
Slide 13: Poland Is a Growth Champion
POLAND IS A GROWTH CHAMPTION. HOW DO WE MAINTAIN THAT STATUS IN THE FUTURE? GDP growth Our new report New growth drivers %, annual average we identified in the report 8 6.9 7 6.2 6 5.3 5.2 5 4.6 European rearmament 4 3.7 3.5 3.3 2.9 3 2 1 0.3 New energy race 0 -1 -2 -2.0 -3 19 25 27 22 26 24 18 17 2
Slide 14: Inflation Returned to Target
INFLATION RETURNED TO TARGET, THE MPC IS THEREFORE GETTING READY TO RESUME RATE CUTS. THIS WILL HAPPEN IN 2027. Inflation – historical and forecasted Inflation broken by variability buckets NBP interest rates and expectations % y/y % % 20 35 CPI (%y/y) 7 18 30 16 Core 25 6 inflation 14 (%y/r) 20 5 1
Slide 15: Acceleration in the Growth of Customer Financing
ACCELERATION IN THE GROWTH OF CUSTOMER FINANCING Retail loan volumes1 Corporate loan volumes2 – Total loans increased by PLN m PLN m 10% y/y – +4.3% y/y growth in retail loan portfolio, including: +4.3% +14.0% • +14.8% y/y growth in cash loan volume • +2.9% y/y growth in mortgage loan volume 119 583
Slide 16: A Material Increase in Customer Deposits and Investment Assets
A MATERIAL INCREASE IN CUSTOMER DEPOSITS AND INVESTMENT ASSETS Customer retail savings Corporate deposits and own issues PLN m PLN m – Total deposit base increased by 6.8% y/y +8.1% +15.3% – Net assets of investment funds managed by Pekao 202 194 205 908 TFI S.A. amounted to PLN 190 486 150 009 138
Slide 17: The Change in NIM Limited Relative to the Scale of Rate Cuts
THE CHANGE IN NIM LIMITED RELATIVE TO THE SCALE OF THE INTEREST RATE CUTS Net interest income Net interest margin1 PLN m % -3.6%-3.6% -36 bps -36 bps -35 bps -35 bps -4.2%-4.2% 6 860 6 860 6 614 6 614 4.27% 4.27% 4.26% 4.26% 4.15% 4.07% 4.15% 3 446 3.91% 4.07% 3.92% 33446 430 33430 403 33403 312 33
Slide 18: Increased Business Scale and Lower Cost of Financing Liabilities
INCREASED BUSINESS SCALE AND LOWER COST OF FINANCING LIABILITIES Interest-bearing assets Interest-bearing liabilities PLN m PLN m +7.3% +8.4% +7.5% +8.1% 347 343 352 324 325 328 332 312 308 315 290 292 296 298 6.07% 6.13% 5.80% 5.49% 2.06% 5.29% 1.44% 2.01% 1.83% 5.13% 4.99% 1.59% 1.53% 1.37% 6M 25
Slide 19: Low Sensitivity to Interest Rate Changes
LOW SENSITIVITY TO INTEREST RATE CHANGES Interest rate risk profile – Consistently executed hedging strategy using fixed-rate securities and derivatives (growing IRS volume) Other liabilities – Current sensitivity to interest rates cuts, VARIABLE resulting mainly from low-interest deposits: rate Oth
Slide 20: Growth in Commission Income
GROWTH IN COMMISSION INCOME Net fee and commission income PLN m – Net fee and commission income amounted to +11.0% +11.0% +8.8% +8.8% PLN 1,661 million in the first half of 2026, increasing by PLN 164 1 661 1 661 y/y y/y million, or 11.0%, compared with 1 497 1 497 y/y y/y 890 890 the first half of
Slide 21: Continued Operating Cost Discipline
CONTINUED OPERATING COST DISCIPLINE – Operating expenses amounted Operating costs to PLN 2,903 million in the first PLN m half of 2026, increasing by PLN +21.8% 198 million, or 7.3%, compared with the first half of 2025, as 458 the Bank continued to invest in 376 458 26 28 26 0 business growth and s
Slide 22: Cost of Risk Below the Strategy Assumptions
COST OF RISK BELOW THE STRATEGY ASSUMPTIONS – Cost of risk at 47 bps in 2Q26 Cost of risk and 42 bps YTD PLN m – Quarter-on-quarter increase in the cost of risk in the portfolio of business entities driven by additional provisions for one 384 437 231 240 248 capital group, while lower cost of 189 13
Slide 23: Stable Asset Quality
STABLE ASSET QUALITY NPL ratio1 NPL coverage ratio % % ex-Idea portfolio (covered by BGF guarantee) NPL coverage: Stage3 Underlying NPL NPL coverage: Stage 1-2 Pekao Pekao excl. Idea total 71 71 71 72 76 75 4.5 4.5 4.4 4.5 4.4 15 17 16 18 15 14 0.5 0.4 0.4 0.5 0.5 53 56 57 57 59 59 4.0 4.1 4.0 4.0 3
Slide 24: Net Profit Generation Path in 1H26
NET PROFIT GENERATION PATH IN 1H26 Net profit in the first half of 2026 was negatively affected by: the increase in the corporate income tax rate from 19% to 30%, lower market interest rates, and an increase in contributions to the Bank Guarantee Fund (BFG) of PLN 84 million. PLN m 164 44 78 269 -19
Slide 25: Strong Capital Position
STRONG CAPITAL POSITION – CAPITAL SURPLUS OVER 4.3 PP. DIVIDEND POTENTIAL IN LINE WITH THE STRATEGY (50-75% OF NET PROFIT) CET 1 Tier 1 Total capital adequacy ratio % % % +5.8 pp +4.3 pp +4.3 pp 16.8 14.8 14.8 12.5 13.5 11.5 10.0 10.5 9.0 Minimum Payment criterion Pekao Minimum Payment criterion Pek
Slide 26: Minimum Requirement for Own Funds and Eligible Liabilities
MINIMUM REQUIREMENT FOR OWN FUNDS AND ELIGIBLE LIABILITIES (MREL) MREL % – Total MREL-TREA requirement is 19.9%1, while subordinated MREL-TREA requirement is 24.3 18.1%1 of total risk exposure 1.2 19.9 – Total MREL-TEM requirement 1.8 is 5.9%, while subordinated MREL-TEM requirement is 5.5% 11.3 of
Slide 27: Awards and Distinctions
AWARDS AND DISTICTIONS The Polish Bank Association recognized Bank Pekao S.A. teams received awards Dagmara Wojnar, Vice President of On April 16, the Warsaw Stock Pekao’s commitment to the development at the Polish Contact Center Awards 2026 Bank Pekao, was named among the Exchange (GPW) celebrated
Slide 28: Macro & Financial Results
01. KEY ACHIEVEMENTS - FINANCIALS 02. BUSINESS ACHIEVEMENTS 03. MACRO & FINANCIAL RESULTS 04. APPENDIX 27
Slide 29: Retail Banking: Record Value of Signed Agreements
RETAIL BANKING: IN 2Q THE VALUE OF THE SIGNED AGREEMENTS REACHED THE RECORD-HIGH VOLUME OF THE HISTORY OF THE BANK PLN 3.2 BN GROSS Cash loan volume Market shares - consumer loan New sales of – In 2Q the value of signed growth portfolio in PLN cash loans agreements reached PLN PLN m % PLN m 3.2 bn w
Slide 30: Retail Banking: Growth of Mortgage Loan Sales
RETAIL BANKING: GROWTH OF MORTGAGE LOANS SALES IN 2Q UP TO PLN 3.9 BN, +42% IN COMPARISON WITH 1Q AND Y/Y Mortgage Market share development New sales of – Mortgage loan sales reached volume growth in total mortgage mortgage loans PLN 6.7 billion in the first half of PLN m % PLN m 2026, up 29% compar
Slide 31: Retail Banking: High Sales of New Accounts
RETAIL BANKING: WE MAINTAIN HIGH SALES OF NEW ACCOUNTS AND THE COMPETITIVENESS OF OUR OFFER Number of individual Current accounts: Gross sales of new customers gross sales credit cards – In the first half of 2026 ths ths ths we opened a total of 226 ths Przekorzystne and Świat Premium accounts, incl
Slide 32: Retail Banking: Increase in Investment Products and Savings
RETAIL BANKING: AN INCREASE IN THE VOLUME OF INVESTMENT PRODUCTS AND TOTAL SAVINGS Retail Investment products: Investment products: deposits AUM net sales² PLN m PLN m PLN m Other investment products 1 Investment funds – A strong increase in total +4% +27% retail customer savings held -37% in deposi
Slide 33: Enterprise Banking: Increase in MID+SME Financing Volumes
ENTERPRISE BANKING: INCREASE IN MID+SME FINANCING VOLUMES BY 14% Y/Y – We launched de minimis Sales of SME and MID Financing Customer guarantees for SMEs and financing volumes acquisition MIDcaps operating in the PLN m PLN m Number of clients defence sector and dual-use technologies – Pekao Leasing
Slide 34: CHF Mortgage Loans Portfolio and Provisions
CHF MORTGAGE LOANS PORTFOLIO AND CHF PORTFOLIO PROVISIONS IN PEKAO COMPARED TO THE MARKET CHF mortgage loans portfolio and CHF portfolio provisions PLN bn 131% 181% 187% 254% 188% 200% 224% 212% 140% 243% 9.7 8.5 7.6 7.6 5.8 5.3 4.1 4.6 3.3 2.7 2.9 2.4 2.1 1.3 1.3 1.0 0.3 0.4 0.3 0.6 Bank 1 Bank 2 B
Slide 35: Limited Risk of CHF Portfolio
LIMITED RISK OF CHF PORTFOLIO Structure of CHF loans pcs – One of the smallest portfolios on the market, one of the 18 ths highest reserve coverage ~20% in courts – More than 80% of contracts 2 ths fully repaid or resolved through settlements or final 38 ths court judgements 2.2 bn CHF 12 ths – Decr
Slide 36: Robust Financial and Liquidity Position
ROBUST FINANCIAL AND LIQUIDITY POSITION LCR and NSFR Loans/Deposits1 Leverage ratio % % % LCR NSFR 232% 234% 239% 238% 227% 68% 66% 67% 6.9% 7.1% 6.9% 173% 168% 171% 168% 167% Regulatory minimum =3.0% 2Q 25 3Q 25 4Q 25 1Q 26 2Q 26 Jun 25 Mar 26 Jun 26 Jun 25 Mar 26 Jun 26 1 Customer financing (exclu
Slide 37: Change in Total Capital Ratio
CHANGE IN TOTAL CAPITAL RATIO TCR quarterly – The ratio decreased by 0.9 change pp, mainly due to: % • the exercise of the early redemption option for Tier 2 bonds series D+D1 in the 1.2% amount of PLN 750m, 17.7% -0.4% 18.0% -0.5% 16.8% • an increase in capital requirements related to credit risk –
Slide 38: Items Affecting MREL
ITEMS AFFECTING MREL – The MREL ratio increased by 0.8 pp in 2Q26, mainly due to MREL quarterly the issuance of SNP bonds in change the amount of EUR 750m in % June depsite: • the exercise of the early redemption option for Tier 1.2% -0.2% 1.8% 25.3% 2 bonds series D+D1 in the -0.6% 24.3% amount of
Slide 39: Debt Issuances and Capital Structure
DEBT ISSUANCES AND CAPITAL STRUCTURE T2, SNP and SP debt issuances Instrument maturity profile1 PLN m Nominal Issue Maturity Optional Series Interest rate amount date date redemption date 3 222 SUBORDINATED DEBT (T2) 2 898 2 498 PLN 1 250m A floating, WIBOR 6M+1.5% 30.10.2017 29.10.2027 - 2 148 2 14
Slide 40: 2026 Outlook: Stable Growth in an Unstable World
2026 OUTLOOK: STABLE GROWTH IN AN UNSTABLE WORLD Economic outlook Banking sector outlook – Economic growth is expected to 2025 2026 2027 2025 2026 2027 stabilise at 3.5% in 2026, driven by investment (particularly public GDP, % 3.7 3.5 2.9 Loans, % y/y 5.5 9.2 8.9 investment), private consumption, P
Slide 41: Consolidated Balance Sheet
CONSOLIDATED BALANCE SHEET PLN M JUN 25 MAR 26 JUN 26 Q/Q% Y/Y% Cash and cash equivalents 17 932 14 467 21 210 46.6% 18.3% Loans and advances to banks 609 167 380 127.5% (37.6%) Loans and advances to customers1 188 434 201 848 206 561 2.3% 9.6% Securities2 114 564 118 154 121 978 3.2% 6.5% Intangibl
Slide 42: Consolidated Income Statement
CONSOLIDATED INCOME STATEMENT PLN M JUN 25 MAR 26 JUN 26 Q/Q% Y/Y% Net interest income1 3 446 3 312 3 302 (0.3%) (4.2%) Net fee and commission 765 829 832 0.4% 8.8% Operating income 4 252 4 121 4 420 7.3% 4.0% Operating costs2 (1 376) (1 427) (1 476) 3.4% 7.3% Personnel cost (840) (825) (884) 7.2% 5
Slide 43: Key Performance Indicators
KEY PERFORMANCE INDICATORS 2Q 25 1Q 26 2Q 26 Q/Q NET Y/Y NET ROE (%) 20.3% 13.8% 17.6% 3.87 (2.66) ROA (%) 1.9% 1.4% 1.7% 0.29 (0.23) NIM (%) 4.26% 3.92% 3.77% (0.15) (0.49) L/D (%) 66.3% 67.9% 66.6% (1.31) 0.27 Cost/Income Ratio (%) 32.4% 34.6% 33.4% (1.23) 1.03 Cost/Income Ratio inc. BGF (%) 33.0%
Slide 44: Selected Data
SELECTED DATA BANK JUN 25 MAR 26 JUN 26 Q/Q% Y/Y% Outlets 566 560 557 (0.5%) (1.6%) ATM's 1 323 1 382 1 396 1.0% 5.5% Employees1 13 778 13 624 13 601 (0.2%) (1.3%) No of PLN current accounts (ths)2 8 835 9 017 9 245 2.5% 4.6% No of mortgage loan accounts (ths)3 340 329 327 (0.5%) (3.8%) No of client
Slide 45: Mutual Funds Distributed by the Group
MUTUAL FUNDS DISTRIBUTED BY THE GROUP Mutual funds - volumes Pekao Investment Management S.A. PLN m % Third party funds distributed Third Pekao party Investment funds distributed Pekao Investment Equity Balance Equity Money Balance Employee Money Employee by the Group by Management the Group S.A. Ma
Slide 46: Ratings of Bank Pekao S.A.
RATINGS OF BANK PEKAO S.A. 30.06.2026 PEKAO POLAND ESG RATINGS FITCH Long-term rating (IDR) BBB+ A- Institution ESG Rating RATINGS Short-term rating F2 F1 MSCI A Viability rating bbb+ - FTSE Russell 3.5 Outlook Stable Negative Morningstar Sustainalytics 19.5 low risk S&P CSA 41/100 PEKAO POLAND ISS
Slide 47: Shareholders: Diversified Shareholder Base
SHAREHOLDERS: DIVERSIFIED SHAREHOLDER BASE Shareholding structure Listing and valuation – The second largest bank in terms of assets (PLN 368 bn) and third largest bank in Poland in terms of market capitalization (PLN 62 bn) – Member of several local and global indices: WIG Banki, WIG 20, WIG 30, MS
Slide 48: Investor Relations Team: Contact and Calendar
INVESTOR RELATIONS TEAM: CONTACT AND CALENDAR CONTACT DETAILS FINANCIAL CALENDAR Q&A RELATED TO THE PRESENTATION: Annual Report 2025 19 February 2026 Marcin Jabłczyński and Webcasting Head of Investor Relations 30 April 2026 First Quarter Report ph.: +48 722 034 633 and Webcasting e-mail: marcin.jab
Slide 49: Disclaimer
DISCLAIMER This presentation (the ”Presentation”) has been prepared by Bank Polska Kasa Opieki Spółka Akcyjna (“Bank”) for the clients. shareholders and financial analysts. The Presentation should not be treated as an offer or invitation to purchase any securities or financial instruments or as advi
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