Change in the Management Board of Millennium TFI

On 21 April 2026, the Supervisory Board of Millennium TFI appointed Zbigniew Jakubowski to the position of Chairman of the Management Board of Millennium TFI. After 25 years of running the company, the current Chairman Robert Borecki remains on the Management Board and will support the new Chairman in the further development of the company.

The Supervisory Board of Millennium TFI appointed Zbigniew Jakubowski to the position of Chairman of the Management Board of Millennium TFI from 21 April 2026.

Since 2024, Zbigniew Jakubowski has been the Vice-president of the Management Board of Quercus TFI, responsible for the Investment Department. In 2019-2023, he was a member of the Executive Committee of Generali Group's Asset Management companies in the CEE region. From April 2022 to July 2023, he held the position of President of the Management Board of GI TFI CIO/CEO. From January 2000 he was the Vice-President of the Management Board of Korona TFI, and from April the President of the Management Board of CIO/CEO. After the merger with Union Investment TFI, Vice-president of the Management Board, in the years 2001-2022 he was responsible for the Asset Management Division (after the sale of TFI to the Generali Group, change of name to Generali Investments TFI).

In the years 1998-1999 he managed and then was CIO at BWE Asset Management, and in 1997-98 at DM BIG-BG (now Biuro Maklerskie Banku Millennium), where he managed individual client portfolios, and from 1996 to 1997 the bank's portfolio in the Capital Market Transactions Department of Bank Gdański. In 1995, he worked at Sopot Brokerage House as a broker, then at Bank Komunalny as an analyst. Zbigniew Jakubowski is a graduate of two faculties: Data Processing and Accounting as well as Production Economics at the University of Gdańsk. He is licensed as an Investment Advisor, CFA in ESG investing and a securities broker.

- On behalf of the Supervisory Board, I congratulate Zbigniew Jakubowski on his appointment to the position of the Chairman of the Management Board of Millennium TFI and wish him a successful continuation of the company's growth and success in strengthening the Company's position on the market, for the benefit of our clients and shareholders. I would also like to thank Chairman Robert Borecki for his many years of work and exceptional contribution to the development of the Company. Under his leadership, Millennium TFI has seen a significant increase in the value of assets under management and the number of clients, as well as building a broad and competitive product offering, including index funds and pension solutions. Chairman Borecki consistently took care of the highest standards of corporate governance and effective risk management. Combined with the high standards of the Company's work, this was reflected in very good supervisory assessments. I am glad that Robert will remain on the Board of Millennium TFI and will continue to serve with his experience and knowledge in its further development. - summed up Adam Berent, Chairman of the Supervisory Board of Millennium TFI.

Chairman Robert Borecki has been in charge of Millennium TFI from the very beginning, i.e. from the moment of obtaining the KNF license in 2001. Under his leadership, Millennium TFI began its operations by offering clients in 2002 the first three standard open-end funds investing in the Polish stock and debt market. Over time, the offer was successively supplemented with new diversified strategies, including active investments in foreign markets.

After 25 years of systematically building customer trust and developing the offer, today, when he hands over the reins of management to the new Chairman, Millennium TFI manages assets in the amount of over PLN 11 billion, invested by over 200 thousand clients in 26 sub-funds with various investment strategies, including index funds recently introduced to the offer.

Robert Borecki has been the Chairman of the Management Board of Millennium TFI since August 2001. From 1997 to April 2002, he was a member of the Management Board of Dom Maklerski BIG-BG S.A., responsible, among others, for brokerage services for institutional clients as well as asset management. In 1995-2000, he was the Deputy-Chairman of BIG Finance Sp. z o.o., an entity specialising in the provision of corporate finance services. Since 1995, he has been associated with the BIG Bank Gdański Group (currently the Bank Millennium Group), and since 1990 he has worked in advisory and financial institutions. During this period, he implemented or directly managed the implementation of numerous restructuring and privatisation projects, mergers and acquisitions, as well as projects related to raising capital on the public and private markets.

- On behalf of the Bank Millennium Group, I would like to thank Chairman Robert Borecki for 25 years of commitment and contribution to the development of Millennium TFI, which is a solid foundation for its further growth. At the same time, I would like to congratulate the new Chairman Zbigniew Jakubowski and wish him many successes and perseverance in the implementation of the Group's "Value and Growth'28" Strategy. I am confident that Millennium TFI is entering a phase of further dynamic development. - Antonio Pinto Junior, Member of the Management Board of Bank Millennium, said.