Bank Polska Kasa Opieki S.a. · GPW:PEO
Bank Polska Kasa Opieki — Bank Polska Kasa Sa Ord — Q1 2026 Earnings Presentation
51 slides from Bank Polska Kasa Opieki's earnings presentation, Apr 30, 2026
Slide 1: 1Q'26 Financial Results
1Q’26 FINANCIAL RESULTS STRONG BUSINESS MOMENTUM DESPITE AN ESCALATION OF GEOPOLITICAL RISK Warsaw, April 30th, 2026
Slide 2: Strong business momentum despite an escalation of geopolitical risk
STRONG BUSINESS MOMENTUM DESPITE AN ESCALATION OF GEOPOLITICAL RISK Nominal net profit Lending Strong growth Robust capital 1.2 bn PLN (+11% y/y) and fee rates in digital position and commission channels income revival (+13% y/y) 1
Slide 3: Agenda
01. KEY ACHIEVEMENTS - FINANCIALS 02. BUSINESS ACHIEVEMENTS 03. MACRO & FINANCIAL RESULTS 04. APPENDIX 2
Slide 4: Key financials: net profit PLN 1.232 bn, customer financing portfolio exceeds PLN 209 bn
THE TOTAL CUSTOMER FINANCING PORTFOLIO EXCEEDED PLN 209 BILLION Net profit ROE C/I incl./excl. BGF Tier 1 with annualised nominal BFG cost PLN 1.232 bn 17.1% 37.2 %/ 1 15.2% 34.6% Assets Financing portfolio CoR NPL PLN bn 356 PLN 209 bn 37 bps 4.5% +7% y/y +11% 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 +14.4% +14.1% +13.8 % 46.3 40.7 14.8 13.0 5.8 5.0 1Q25 1Q26 1Q25 1Q26 1Q25 1Q26 4
Slide 6: All business segments contributed to 1Q26 performance
ALL BUSINESS SEGMENTS CONTRIBUTED TO 1Q26 PERFORMANCE 1Q’26 (vs 1Q’25) Retail Enterprise Corporate banking banking banking +16% New sales of cash loans (net) +32% Fees in SME segment +29% Income form treasury products +14% New sales of mortgage loans +19% New sales of SME financing +28% Custody +12%
Slide 7: Agenda
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 3M’26 2027 of Bank Pekao Execution Target ROE (%) 13.8/17.11 >182 ...the only way is up! C/I (%, incl./excl. BGF) 37.2³/34.6 <35 CoR (bps) 37 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 • Bank customers will gain access to • C ompletion of the migration of clients • D igital process for submitting presale tickets for top concerts thanks from the legacy mobile banking applications for co
Slide 10: Continued growth in active mobile banking customers
CONTINUED GROWTH IN ACTIVE MOBILE BANKING CUSTOMERS – IN 1Q26 AN INCREASE OF 66 THOUSAND ACTIVE USERS Active mobile banking PEX digital sales customers of total m % +8% +1 pp – New simplifications in the mobile application: financial security widgets, a simplified transaction history widget, a widge
Slide 11: We consistently support development of our clients
WE CONSISTENTLY SUPPORT DEVELOPMENT OF OUR CLIENTS Transactions 113 m PLN 3 m PLN 2.4 bn USD INVESTMENT FINANCING FOR THE SYNDICATED LOAN PAYABLES FINANCING DEVELOPMENT OF A RETAIL PARK LOAN AGREEMENT PROGRAM Lead Arranger, Facility and Facility agent Common Agent, Lender Security Agent Secondary In
Slide 12: Agenda
01. KEY ACHIEVEMENTS - FINANCIALS 02. BUSINESS ACHIEVEMENTS 03. MACRO & FINANCIAL RESULTS 04. APPENDIX 11
Slide 13: Domestic growth drivers will remain intact
DOMESTIC GROWTH DRIVERS WILL REMAIN INTACT GDP growth and its key components Wage growth % y/y % y/y 12 OUTBREAK 12 OF WAR OUTBREAK 10 OF WAR 20 10 20 8 15 8 15 6 6 10 4 10 4 5 2 5 2 0 0 0 0 -2 -5 -2 -5 -4 -4 -10 -6 -10 -6 -15 -8 -15 -8 2020 2021 2022 2023 2024 2025 2026 2027 2020 2021 2022 2023 202
Slide 14: We do not expect a repeat of 2022; oil shock limited effects
WE DO NOT EXPECT A REPEAT OF 2022. THE OIL SHOCK WILL HAVE LIMITED EFFECTS. A RETURN TO INTEREST RATE CUTS IS EXPECTED IN 2027. CPI inflation with forecast NBP interest rate with expectations % y/y % 20 20 18 18 7 7 16 16 14 14 6 6 12 12 5 5 10 10 4 4 8 8 3 3 6 6 2 2 4 4 2 2 1 1 0 0 0 0 2018 2019 20
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 PLN m PLN m by 11% y/y +4.3% y/y growth in retail loan +4.3% +16.4% portfolio, including: • +14.4% y/y growth in cash loan volume with PLN 2.0 115 234 119 583 bn in new net sales in
Slide 16: 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 4.7% y/y +7.8% +11.4% – Net assets of investment funds managed by Pekao 196 322 202 194 TFI S.A. amounted to PLN 187 641 139 272 138
Slide 17: Change in NIM limited relative to scale of interest rate cuts
THE CHANGE IN NIM LIMITED RELATIVE TO THE SCALE OF THE INTEREST RATE CUTS Net interest income Net interest margin PLN m % -3.0% -37 bps 4.29 4.26 3 414 3 446 3 430 3 403 4.15 4.07 3 312 3.92 1Q 25 2Q 25 3Q 25 4Q 25 1Q 26 1Q 25 2Q 25 3Q 25 4Q 25 1Q 26 -199 bps Average 3.87% WIBOR 3M 5.86% 5.35% 4.88%
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 bn PLN bn +6.2% +7.0% 325 328 332 343 308 323 296 298 288 292 6.16% 6.07% 5.80% 2.11 % 2.01% 5.49% 5.29% 1.83% 1.59% 1.53% 1Q 25 2Q 25 3Q 25 4Q 25 1Q 26 1Q 25 2Q 25 3Q 25 4Q 25 1
Slide 19: Low sensitivity to interest rate changes
LOW SENSITIVITY TO INTEREST RATE CHANGES Interest rate risk profile – Natural sensitivity to interest rates cuts, resulting mainly from low-interest deposits: ca. 15 bps NIM decline for 100 bps rates cut Other liabilities – Consistently executed hedging strategy using VARIABLE fixed-rate securities
Slide 20: Growth in commission income
GROWTH IN COMMISSION INCOME Net fee and commission income PLN m – Growing contribution of capital‑markets‑related income, including asset management fees, driven +13.3% by an increase in investment fund assets – Positive impact from the 890 829 distribution of Treasury bonds, 765 767 137 732 y/y wit
Slide 21: High operating cost discipline
HIGH OPERATING COST DISCIPLINE Operating costs PLN m 350 26 28 26 458 350 26 28 26 458 – Slower growth in personnel +7.4% expenses, 4% y/y +7.4% 1 329 1 376 1 362 1 463 1 427 – An increase in operating 1 329 1 376 1 362 1 463 1 427 537 536 557 643 602 expenses excluding personnel 537 536 557 643 602
Slide 22: Cost of risk below the strategy assumptions
COST OF RISK BELOW THE STRATEGY ASSUMPTIONS Cost of risk – Cost of risk at 37 bps in 1Q26, PLN m compared with 27 bps in 4Q25. – Quarter-on-quarter increase in the cost of risk in the portfolio 240 of business entities, driven by a 231 189 153 gradual rise in loss rate, while 136 loss rate in the po
Slide 23: Stable asset quality
STABLE ASSET QUALITY NPL ratio1 NPL coverage ratio % % ex-Idea portfolio (covered by BGF guarantee) NPL coverage: Stage 3 Underlying NPL NPL coverage: Stage 1-2 Pekao Pekao excl. Idea total 71 71 71 71 74 72 4.5 4.5 4.5 4.4 4.5 17 15 17 18 15 14 0.4 0.5 0.4 0.4 0.5 54 53 56 57 57 57 4.1 4.0 4.1 4.0
Slide 24: Net profit generation path in 1Q26
NET PROFIT GENERATION PATH IN 1Q26 The decline in net interest income and the increase in operating and regulatory costs were the key drivers of the y/y change in net profit PLN m 97 26 -102 -93 -30 -98 -36 -110 -107 1 685 1 232 Net profit Net interest Net fee and Other net Provisions related Operat
Slide 25: Strong capital position and dividend potential
STRONG CAPITAL POSITION – CAPITAL SURPLUS OVER 4.7 PP. DIVIDEND POTENTIAL IN LINE WITH THE STRATEGY (50-75% OF NET PROFIT) CET 1 Tier 1 Total capital adequacy ratio % % % +6.2 pp +4.7 pp +5.2 pp 17.7 15.2 15.2 13.5 11.5 12.5 10.0 10.5 9.0 Minimum Payment criterion Pekao Minimum Payment criterion Pek
Slide 26: Minimum requirement for own funds and eligible liabilities (MREL)
MINIMUM REQUIREMENT FOR OWN FUNDS AND ELIGIBLE LIABILITIES (MREL) MREL – Total MREL-TREA requirement % is 19.9%1, while subordinated MREL-TREA requirement is 18.1%1 of total risk exposure – Total MREL-TEM requirement 23.5 is 5.9%, while subordinated 1.1 19.9 MREL-TEM requirement is 5.5% 1.8 of total
Slide 27: Awards and distinctions
AWARDS AND DISTICTIONS Bank Pekao has once again been ranked An award from Microsoft — the Bank Pekao S.A. won the 5th edition of CyberPEKAO Academy – Humans Are among the highest‑rated financial “AI Transformation Pioneers” in the the Dream Employer competition in the the Best Firewall received the
Slide 28: Strong business momentum despite an escalation of geopolitical risk
STRONG BUSINESS MOMENTUM DESPITE AN ESCALATION OF GEOPOLITICAL RISK Nominal net profit Lending Strong growth Robust capital 1.2 bn PLN (+11% y/y) and fee rates in digital position and commission channels income revival (+13% y/y) 27
Slide 29: Agenda
01. KEY ACHIEVEMENTS - FINANCIALS 02. BUSINESS ACHIEVEMENTS 03. MACRO & FINANCIAL RESULTS 04. APPENDIX 28
Slide 30: Retail banking: increase in signed cash loan agreements
RETAIL BANKING: INCREASE IN THE VALUE OF SIGNED CASH LOAN AGREEMENTS IN Q1, WITH RECORD SALES IN MARCH – Net sales reached PLN 2.0bn Cash loan Market shares - consumer loan New sales of (+17% y/y), with record‑high volume growth portfolio in PLN cash loans1 sales recorded in March. PLN m % PLN m – A
Slide 31: Retail banking: mortgage loan recognised in Złoty Bankier ranking
RETAIL BANKING: MORTGAGE LOAN RECOGNISED IN THE “ZŁOTY – For the second year in a row, the Bank was recognised in the BANKIER” RANKING FOR THE SECOND CONSECUTIVE YEAR “Złoty Bankier” ranking – 2nd place for the mortgage loan, PLN mortgage Market share development New sales of awarded for a strong pr
Slide 32: 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 customers gross sales new credit cards – In the first quarter of 2026, ths ths ths we opened a total of 113.5k Przekorzystne Accounts and Świat Premium Ac
Slide 33: Retail banking: increase in investment products and total 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 products¹ Investment funds – A strong increase in total +4% +33% retail customer savings held -18% in deposit
Slide 34: Enterprise banking: increase in MID+SME financing volumes
ENTERPRISE BANKING: INCREASE IN MID+SME FINANCING VOLUMES BY 14% Y/Y – In the SME segment, we Sales of SME Financing Customer acquired 724 new customers in financing volumes acquisition 1Q26, while 268 new customers PLN m PLN m Number of clients were onboarded in the MID segment. – We completed the
Slide 35: CHF mortgage loans portfolio and provisions compared to the market
CHF MORTGAGE LOANS PORTFOLIO AND CHF PORTFOLIO PROVISIONS IN PEKAO COMPARED TO THE MARKET CHF mortgage loans portfolio and CHF portfolio provisions PLN m 111% 177% 160% 162% 180% 197% 210% 242% 144% 257% 10.6 8.9 8.0 7.2 7.1 6.0 5.6 4.4 4.8 2.6 3.1 2.9 2.4 1.6 1.4 1.0 0.4 0.5 0.3 0.7 Bank 1 Bank 2 B
Slide 36: 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 – ~75% of the portfolio fully 2 ths repaid or converted to PLN as a result of concluded 38 ths settlements 2.2 bn CHF 12 ths – Decrease i
Slide 37: Robust financial and liquidity position
ROBUST FINANCIAL AND LIQUIDITY POSITION LCR and NSFR Loans/Deposits1 Leverage ratio % % % LCR NSFR 243 232 239 238 234 68 66 67 7.1 7.0 7.1 174 173 168 171 168 Regulatory minimum =3.0% 1Q 25 2Q 25 3Q 25 4Q 25 1Q 26 Mar 25 Dec 25 Mar 26 Mar 25 Dec 25 Mar 26 1 Customer financing (excluding reverse rep
Slide 38: Change in total capital ratio
CHANGE IN TOTAL CAPITAL RATIO TCR quarterly change % – The ratio increased by 1.3 pp, mainly due to the inclusion in 0.6% -0.1% -0.4% own funds of: 1.2% 17.7% 16.4% • the EUR 500m Tier 2 bond issuance completed in November, following KNF approval, • part of the 2H’2025 profit, following KNF approval
Slide 39: Items affecting MREL
ITEMS AFFECTING MREL MREL quarterly change % – The MREL ratio declined by 0.4 pp in 1Q26, mainly due to: 0.6% -0.1% -0.6% 23.9% -0.3% 23.5% • the exercise of the early redemption option for senior preferred bonds series SP2 in the amount of PLN 600m, • an increase in capital requirements related to
Slide 40: 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 SUBORDINATED DEBT (T2) 2 895 2 495 PLN 1 250m A floating, WIBOR 6M+1.5% 30.10.2017 29.10.2027 - 2 145 2 145 2 14
Slide 41: 2026 outlook: stable growth in an unstable world
2026 OUTLOOK: STABLE GROWTH IN AN UNSTABLE WORLD – Economic growth was expected to Economic outlook Banking sector outlook accelerate to 4.0% in 2026, driven 2025 2026 2027 2025 2026 2027 by investment (particularly public investment), private consumption GDP, % 3.6 3.8 3.6 Loans, % y/y 5.5 9.9 9.7
Slide 42: Consolidated balance sheet
CONSOLIDATED BALANCE SHEET PLNM MAR 25 DEC 25 MAR 26 Q/Q% Y/Y% Cash and cash equivalents 17,230 12,016 14,467 20.4% (16.0%) Loans and advances to banks 475 501 167 (66.7%) (64.8%) Loans and advances to customers1 181,961 197,343 201,848 2.3% 10.9% Securities2 116,215 122,628 118,154 (3.6%) 1.7% Inta
Slide 43: Consolidated income statement
CONSOLIDATED INCOME STATEMENT PLNM 1Q 25 4Q 25 1Q 26 Q/Q% Y/Y% Net interest income1 3,414 3,403 3,312 (2.7%) (3.0%) Net fee and commission 732 890 829 (6.9%) 13.3% Operating income 4,249 4,355 4,121 (5.4%) (3.0%) Operating costs2 (1,329) (1,463) (1,427) (2.5%) 7.4% Personnel cost (792) (820) (825) 0
Slide 44: Key performance indicators
KEY PERFORMANCE INDICATORS 1Q 25 4Q 25 1Q 26 Q/Q NET Y/Y NET ROE (%) 20.5% 21.3% 13.8% -7.55 -6.73 ROA (%) 2.0% 2.1% 1.4% -0.71 -0.63 NIM (%) 4.29% 4.07% 3.92% -0.15 -0.37 L/D (%) 65.7% 67.0% 67.9% 0.90 2.21 Cost/Income Ratio (%) 31.3% 33.6% 34.6% 1.03 3.35 Cost/Income Ratio inc. BGF (%) 38.5% 34.2%
Slide 45: Selected data
SELECTED DATA BANK MAR 25 DEC 25 MAR 26 Q/Q% Y/Y% Outlets 568 560 560 0.0% (1.4%) ATM's 1,316 1,363 1,382 1.4% 5.0% Employees1 12,372 13,765 13,624 (1.0%) 10.1% No of PLN current accounts (ths)2 8,833 8,928 9,017 1.0% 2.1% No of mortgage loan accounts (ths)3 344 333 329 (1.2%) (4.4%) No of clients h
Slide 46: 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 Pekaoparty Investment funds distributed Pekao Investment Equity Balance Money Equity Balance Employee Money Employee by the Group by Management the Group S.A. Man
Slide 47: Ratings of Bank Pekao S.A.
RATINGS OF BANK PEKAO S.A. 31.03.2026 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 48: Shareholders: diversified shareholder base
SHAREHOLDERS: DIVERSIFIED SHAREHOLDER BASEY Shareholding structure Listing and valuation – The second largest bank in terms of assets (PLN 356 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, M
Slide 49: 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 First Quarter Report 30 April 2026 ph.: +48 722 034 633 and Webcasting e-mail: marcin.jab
Slide 50: 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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