Financial statement of the PZU Group nad PZU SA (Q1 2026)

Powszechny Zakład Ubezpieczeń Spółka Akcyjna

Group

Condensed Interim

Consolidated Financial Statements for the 3 months ended

31 March 2026

Table of contents

Financial highlights 4

1. Selected consolidated financial data of PZU Group 4

2. Selected standalone financial data of PZU (PAS) 4

3. Selected standalone financial data of Powszechny Zakład Ubezpieczeń na Życie Spółka Akcyjna (PAS) 5

4. Summary of consolidated quarterly performance 5

Interim consolidated profit and loss account 7

Interim consolidated statement of other comprehensive income 8

Interim consolidated statement of financial position 9

Interim consolidated statement of changes in equity 11

Interim consolidated cash flow statement 13

Notes to the condensed interim consolidated financial statements 15

1. Introduction 15

2. Composition of PZU Group 19

3. Shareholder structure 31

4. Key management 31

5. Supervisory Board of the parent company 34

6. Key accounting policies, key estimates and judgments 35

7. Major events that have a significant impact on the structure of items of the financial statements 40

8. Correction of errors from previous years 40

9. Significant events after the end of the reporting period 41

10. Notes to the condensed interim consolidated financial statements 41

11. Financial assets pledged as collateral for liabilities and contingent liabilities 83

12. Contingent assets and liabilities 83

13. Commentary to the condensed interim consolidated financial statements 85

14. Equity management 88

15. Segment reporting 90

16. Note on reporting by segment 96

17. Impact of non-recurring events on operating results 103

18. Information on changes in economic circumstances and business conditions which have a material impact

    on the fair value of financial assets and liabilities 103

19. Management Board's position on previously published forecasts 111

20. Issues, redemptions and repayments of debt securities and equity securities 111

21. Payment default or violation of material regulations of the loan agreement 111

22. Distribution of the parent company's profit and dividends 111

23. Disputes 112

24. Evaluation of the PZU Group companies' standing by rating agencies 114

25. Related party transactions 115

26. Other information 119

PZU's quarterly standalone financial information (in compliance with PAS) 124

1. Interim balance sheet 124

2. Interim revenue account of non-life insurance 127

3. Interim general profit and loss account 128

4. Interim statement of changes in equity 129

5. Interim cash flow statement 132

6. Introduction 134

7. Key accounting policies, key estimates and judgments 134

8. Changes in accounting policies 134

   Financial highlights

   1. Selected consolidated financial data of PZU Group

      Data from the consolidated profit and loss account	m PLN 1 January - 31 March 2026	m PLN 1 January - 31 March 2025	m EUR 1 January - 31 March 2026	m EUR 1 January - 31 March 2025
      Insurance service result	1,137	1,251	268	299
      Revenue from commissions and fees	1,417	1,244	334	297
      Fee and commission expenses	(322)	(280)	(76)	(67)
      Net investment result	6,505	7,543	1,534	1,802
      Profit before tax	3,746	4,454	883	1,064
      Net profit, of which:	2,617	3,436	617	821
      - profit attributable to the equity holders of the Parent Company	1,362	1,760	321	421
      - profit attributable to holders of non-controlling interests	1,255	1,676	296	400
      Basic and diluted weighted average number of common shares	863,326,384	863,319,376	863,326,384	863,319,376
      Basic and diluted earnings per common share (in PLN/EUR)	1.58	2.04	0.37	0.49

      Data from the consolidated statement of financial position	m PLN 31 March 2026	m PLN 31 December 2025	m EUR 31 March 2026	m EUR 31 December 2025
      Assets	543,426	535,483	126,690	126,691
      Share capital	86	86	20	20
      Equity attributable to equity holders of the parent company	36,870	35,471	8,596	8,392
      Non-controlling interest	37,825	37,182	8,818	8,797
      Total equity	74,695	72,653	17,414	17,189
      Basic and diluted number of common shares	863,321,805	863,335,953	863,321,805	863,335,953
      Book value per common share (in PLN/EUR)	42.71	41.09	9.96	9.72

      Data from the consolidated cash flow statement	m PLN 1 January - 31 March 2026	m PLN 1 January - 31 March 2025	m EUR 1 January - 31 March 2026	m EUR 1 January - 31 March 2025
      Net cash flows from operating activities	2,217	5,633	523	1,346
      Net cash flows from investing activities	(3,063)	3,372	(722)	805
      Net cash flows from financing activities	(62)	(1,927)	(15)	(460)
      Total net cash flows	(908)	7,078	(214)	1,691

   2. Selected standalone financial data of PZU (PAS)

      Data from the balance sheet	m PLN 31 March 2026	m PLN 31 December 2025	m EUR 31 March 2026	m EUR 31 December 2025
      Assets	61,366	60,915	14,306	14,412
      Share capital	86	86	20	20
      Total equity	27,027	26,442	6,301	6,256
      Basic and diluted number of common shares	863,523,000	863,523,000	863,523,000	863,523,000
      Book value per common share (in PLN/EUR)	31.30	30.62	7.30	7.24

      Data from the technical non-life insurance account and from the general profit and loss account	m PLN 1 January - 31 March 2026	m PLN 1 January - 31 March 2025	m EUR 1 January - 31 March 2026	m EUR 1 January - 31 March 2025
      Gross written premiums	4,376	4,453	1,032	1,064
      Non-life insurance technical result	357	463	84	111
      Net profit or loss on investing activities 1)	286	260	67	62
      Net profit or loss	327	440	77	105
      Basic and diluted weighted average number of common shares	863,523,000	863,523,000	863,523,000	863,523,000
      Basic and diluted earnings per common share (in PLN/EUR)	0.38	0.51	0.09	0.12

      1) Including the item "Share of the net profit (loss) of related parties accounted for using the equity method".

   3. Selected standalone financial data of Powszechny Zakład Ubezpieczeń na Życie Spółka Akcyjna (PAS)

      Data from the balance sheet	m PLN 31 March 2026	m PLN 31 December 2025	m EUR 31 March 2026	m EUR 31 December 2025
      Assets	32,737	32,390	7,632	7,663
      Total equity	5,651	5,350	1,317	1,266

      Data from the technical life insurance account and from the general profit and loss account	m PLN 1 January - 31 March 2026	m PLN 1 January - 31 March 2025	m EUR 1 January - 31 March 2026	m EUR 1 January - 31 March 2025
      Gross written premiums	2,707	2,637	638	630
      Technical life insurance result	475	517	112	124
      Net investment result	234	569	55	136
      Net profit	320	392	75	94

   4. Summary of consolidated quarterly performance

      The net financial result of the PZU Group for the period of 3 months ended 31 March 2026 was PLN 2,617 million and was 23.8% lower than the net result in the corresponding period of the previous year. The net profit attributable to the parent company's shareholders was PLN 1,362 million compared to PLN 1,760 million in Q1 2025 (a decrease by PLN 398 million).

      The aROE attributable to the parent company for the period from 1 January to 31 March 2026 was 15.7%, which constitutes a decrease by 6.7 p.p. in comparison to that for the corresponding period of the preceding year.

      The following factors affected the PZU Group's operating result in the 3-month period ended 31 March 2026, as compared to the corresponding period of the preceding year:

      • lower results in the banking business segment, primarily due to a decline in net interest income as a result of reductions in market interest rates, a higher level of fees to the BFG, and an increase in operating expenses;

      • decrease in operating profit in the investment segment, mainly due to the negative impact of temporary exchange rate differences on real estate and lower results from equity instruments, particularly as a result of unfavorable market conditions;

      • lower profitability in the mass non-life insurance segment - a decline in insurance service results both in non-motor insurance (an excessive number of mass claims caused by adverse weather events) and motor insurance;

      • lower results in the Baltic countries segment, caused by a decrease in insurance service results due to an increased loss ratio in property companies, driven by unfavorable weather conditions leading to a significant rise in the frequency of motor and property claims;

      • lower profitability on the operating activities of the corporate non-life insurance business, mainly as a result of a deteriorated y/y insurance service result in motor insurance;

      • higher operating result in the group and individually continued life insurance segment, in particular due to the increase in the insurance service result as well as the lower result from investments allocated to the segment;

      • increase in operating profit in the individual life insurance segment with a protection focus, particularly as a result of higher insurance service results and investment income allocated to the segment.

Interim consolidated profit and loss account

Interim consolidated statement of other comprehensive income

Interim consolidated statement of financial position

Interim consolidated statement of financial position (continued)

Interim consolidated statement of changes in equity

Interim consolidated statement of changes in equity (continued)

Interim consolidated cash flow statement

Interim consolidated cash flow statement (continued)

Notes to the condensed interim consolidated financial statements

1. Introduction

   Compliance statement

   These condensed interim consolidated financial statements of Powszechny Zakład Ubezpieczeń Spółka Akcyjna Group ("condensed interim consolidated financial statements" and "PZU Group", respectively) have been prepared in line with requirements of International Accounting Standard 34 "Interim Financial Reporting", as endorsed by the Commission of European Union, and with requirements set forth in the Regulation on Current and Periodic Information.

   These condensed interim consolidated financial statements should be read in conjunction with the consolidated financial statements of PZU Group for 2025.

   Parent company's quarterly standalone financial information

   Pursuant to Article 63 para. 1 of the Regulation on Current and Periodic Information, quarterly standalone financial information

   of the PZU Group's parent company, i.e. PZU, forms part of these condensed interim consolidated financial statements.

   According to Article 45 para. 1a of the Accounting Act, financial statements of issuers of securities admitted to trading on one of the regulated markets of the European Economic Area countries may be prepared in accordance with IFRS.

   As the General Meeting of Shareholders of PZU has not made the decision referred to in Article 45 para. 1c of the Accounting Act in the matter of preparation of financial statements pursuant to IFRS, PZU's standalone statements are prepared in accordance with the Polish Accounting Standards (PAS) defined in the Accounting Act and in the implementing acts issued on the basis thereof, including:

   • Regulation of the Minister of Finance on the special accounting principles for insurance and reinsurance undertakings of 12 April 2016;

   • Regulation of the Minister of Finance on the recognition, valuation methods, as well as disclosure and presentation of financial instruments of 17 November 2024.

     In matters not regulated by the Accounting Act or the implementing acts issued on the basis thereof, Polish Accounting Standards or IFRS are applied accordingly.

     Period covered by the condensed interim consolidated financial statements

     These condensed interim consolidated financial statements cover the period of 3 months from 1 January to 31 March 2026.

     The financial statements of the subsidiaries are prepared for the same reporting period as the financial statements of the parent company.

     Functional and presentation currency

     The PZU's functional and presentation currency is the Polish zloty. Unless noted otherwise, all amounts presented in these

     consolidated financial statements are stated in millions of Polish zloty.

     The functional currency of the companies domiciled in Lithuania, Latvia and Sweden is the EUR, while for the companies domiciled in Ukraine it is the Ukrainian hryvnia, and for the company domiciled in the United Kingdom it was the British pound.

     FX rates

     Financial data of foreign subsidiaries is converted into Polish zloty as follows:

   • assets and liabilities - at the average exchange rate set by the National Bank of Poland at the end of the reporting period;

   • items of the profit and loss account and other comprehensive income - at the arithmetic mean of average exchange rates set by the National Bank of Poland as at the dates ending each month of the reporting period.

   Currency	1 January - 31 March 2026	1 January - 31 March 2025	31 March 2026	31 December 2025
   EUR	4.2419	4.1848	4.2894	4.2267
   GBP	n/a	5.0266	n/a	n/a
   UAH	0.0836	0.0957	0.0851	0.0851

   Going concern assumption

   These condensed interim consolidated financial statements have been drawn up under the assumption that PZU Group remains a going concern in the foreseeable future, i.e. in the period of at least 12 months after the end of the reporting period. As at the date of signing hereof, there are no facts or circumstances that would indicate that a threat exists to the PZU Group's capability of continuing its operations in a 12-month period following the end of the reporting period as a result of an intentional or compulsory discontinuation or a mayor curtailment of its current activities.

   Discontinued operations

   In the 3-month period ended 31 March 2026, the PZU Group did not discontinue any significant type of the activities carried out.

   Seasonal or cyclical business

   The PZU Group's business is not of a significantly seasonal or cyclical nature.

   Glossary

   The most important terms, abbreviations and acronyms used in the condensed interim consolidated financial statements are explained below.

   Names of companies

   Balta - Apdrošināšanas akciju sabiedrība "BALTA". Alior Bank - Alior Bank SA.

   Alior Bank Group - Alior Bank with its subsidiaries listed in section 2.2. Pekao Group - Pekao with its subsidiaries listed in section 2.2.

   Idea Bank - Idea Bank SA.

   LD - Akcinė bendrovė "Lietuvos draudimas". Link4 - Link4 Towarzystwo Ubezpieczeń SA. Pekao - Bank Pekao SA.

   PFR - Polski Fundusz Rozwoju SA.

   PZU, parent company - Powszechny Zakład Ubezpieczeń Spółka Akcyjna.

   PZU Finance AB - PZU Finance AB (publ.) in likvidation.

   PZU LT GD - Uždaroji akcinė bendrovė "PZU Lietuva gyvybės draudimas". PZU Ukraina - PRJSC IC "PZU Ukraine".

   PZU Ukraina Życie - PRJSC IC "PZU Ukraine Life Insurance".

   PZU Życie - Powszechny Zakład Ubezpieczeń na Życie Spółka Akcyjna.

   TFI PZU - Towarzystwo Funduszy Inwestycyjnych PZU Spółka Akcyjna.

   TUW PZUW - Towarzystwo Ubezpieczeń Wzajemnych Polski Zakład Ubezpieczeń Wzajemnych.

   Other terms

   BFG - Bank Guarantee Fund.

   CIRS - Cross-currency interest rate swap.

   COR - Combined operating ratio, calculated for the non-life insurance sector. This is the ratio of insurance service expenses, including amounts recoverable from reinsurers to the net income on insurance activities; a decrease in the value of this indicator signifies an improvement in efficiency (Combined Operating Ratio).

   CSM - contractual service margin.

   GMM - general measurement model, for measurement of insurance contracts according to IFRS 17. CODM - Chief operating decision maker within the meaning of IFRS 8 - Operating segments.

   WSE - Warsaw Stock Exchange. GUS - Statistics Poland.

   IRS - Interest rate swap.

   PZU's standalone financial statements for 2025 - annual standalone financial statements of Powszechny Zakład Ubezpieczeń Spółka Akcyjna for 2025, prepared in accordance with the PAS.

   KNF - Polish Financial Supervision Authority.

   Baltic countries - Lithuania (LD, PZU LT GD), Latvia (Balta), Estonia (LD branch). LIC - Liability for incurred claims.

   LRC - Liability for remaining coverage.

   MSSF - International Financial Reporting Standards, as endorsed by the European Commission, published and in force as at 31 March 2026.

   MRA - Modified retrospective approach. NBP - National Bank of Poland.

   PAA - Premium allocation approach.

   POCI - Purchased or originated credit-impaired financial assets. Banking Law - the Act of 29 August 1997 entitled Banking Law.

   PLET - Polish Life Expectancy Tables published annually by the Statistics Poland. PAS - Accounting Act of 29 September 1994 and regulations issued thereunder.

   ROE attributable to the parent company - return on equity calculated as the ratio of the annual net profit attributable to owners of the parent company to the arithmetic mean of consolidated equity, less the minority interest at the beginning and at the end of the reporting period; the higher the ratio, the better the efficiency signifies an improvement in efficiency and the ability to multiply funds entrusted by the owners.

   aROE- adjusted return on equity, calculated on the basis of equity, excluding cumulative other comprehensive income relating to insurance and reinsurance finance income and expenses.

   Regulation on Current and Periodic Information - Regulation of the Minister of Finance of 6 June 2025 on Current and Periodic Information Transmitted by Securities Issuers and the Conditions for Recognizing the Information Required by the Regulations of a Non-Member State as Equivalent.

   IASB - International Accounting Standards Board.

   Consolidated financial statements - consolidated financial statements of the PZU Group prepared in accordance with IFRS for the year ended 31 December 2025.

   SPPI test - solely payments of principal and interest test. CJEU - Court of Justice of the European Union.

   UKNF - Office of the Polish Financial Supervision Authority. UOKiK - Office of Competition and Consumer Protection.

   Insurance Activity Act - Act on Insurance and Reinsurance Activity of 11 September 2015.

   Supplementary Oversight Act - Act of 15 April 2005 on supplementary oversight over credit institutions and insurance undertakings, reinsurance undertakings and investment firms comprising a financial conglomerate.

   VFA - variable fee approach.

   Financial leverage ratio - quotient of debt to the PZU Group's debt and equity attributed to the equity holders of the parent company, less the balance of goodwill and intangible assets attributed to the equity holders of the parent company. Ratio calculated on the basis of the categories disclosed in the PZU Group's consolidated financial statements net of the banking sector.

   Cost/Income ratio (banking sector) - the quotient of the PZU Group's non-insurance operating expenses excluding tax on other financial institutions and total operating income, which includes: interest income calculated using the effective interest rate and equalized, other net investment income, result on discontinued recognition of financial instruments and investments not measured at fair value through profit or loss, net change in fair value of assets and liabilities measured at fair value, interest expenses, as well as result on commissions and fees and other operating income and expenses; a decrease in the value of the ratio indicates an improvement in efficiency.

   PZU Ordinary Shareholder Meeting - Ordinary Shareholder Meeting of Powszechny Zakład Ubezpieczeń Spółka Akcyjna.

2. Composition of PZU Group

   1. Key information on PZU Group

      Key information on the parent company
      Name of the reporting entity	Powszechny Zakład Ubezpieczeń Spółka Akcyjna
      Legal form	Joint stock company [Spółka Akcyjna]
      Registered office	Poland
      Country of registration	Poland
      Registration address of the entity's offices	Rondo Ignacego Daszyńskiego 4, 00-843 Warsaw
      Principal place of business	Rondo Ignacego Daszyńskiego 4, 00-843 Warsaw, Poland
      Core business	Non-life insurance (65.12 according to the Polish Classification of Business Activity and the Statistical Classification of Economic Activities in Europe)
      National Court Register [Krajowy Rejestr Sądowy]	District Court of the Capital City of Warsaw, 13th Commercial Division of the National Court Register, Commercial Register - KRS 0000009831

   2. ‌PZU Group companies and associates

      No.	Name of the entity	Registered office	Date of obtaining control / significant influence	% of the share capital and % of votes held directly or indirectly by PZU		Line of business and website
      				31 March 2026	31 December 2025
      Consolidated insurance undertakings
      1	Powszechny Zakład Ubezpieczeń SA	Warsaw	n/a	n/a	n/a	Non-life insurance. https://www.pzu.pl/grupa-pzu/spolki/pzu-sa
      2	Powszechny Zakład Ubezpieczeń na Życie SA	Warsaw	18.12.1991	100.00%	100.00%	Life insurance. https://www.pzu.pl/pl/grupa-pzu/spolki/pzu-zycie
      3	Link4 Towarzystwo Ubezpieczeń SA	Warsaw	15.09.2014	100.00%	100.00%	Non-life insurance. https://www.link4.pl/
      4	Towarzystwo Ubezpieczeń Wzajemnych Polski Zakład Ubezpieczeń Wzajemnych	Warsaw	20.11.2015	100.00%	100.00%	Non-life insurance. https://www.tuwpzuw.pl/
      5	AB "Lietuvos draudimas"	Vilnius (Lithuania)	31.10.2014	100.00%	100.00%	Non-life insurance. http://www.ld.lt/
      6	AAS "BALTA"	Riga (Latvia)	30.06.2014	100.00%	100.00%	Non-life insurance. http://www.balta.lv/
      7	PRJSC IC "PZU Ukraine"	Kiev (Ukraine)	1.07.2005	100.00%	100.00%	Non-life insurance. http://www.pzu.com.ua/
      8	PRJSC IC "PZU Ukraine Life Insurance"	Kiev (Ukraine)	1.07.2005	100.00%	100.00%	Life insurance. http://www.pzu.com.ua/
      9	UAB "PZU Lietuva gyvybes draudimas"	Vilnius (Lithuania)	8.04.2004	100.00%	100.00%	Life insurance. https://pzugd.lt/
      10	Polski Gaz Towarzystwa Ubezpieczeń Wzajemnych in liquidation	Warsaw	25.01.2024	100.00%	100.00%	Non-life insurance. https://polskigaztuw.pl/
      11	Polski Gaz Towarzystwo Ubezpieczeń Wzajemnych na Życie in liquidation	Warsaw	25.01.2024	100.00%	100.00%	Life insurance. https://polskigaztuw.pl/pgtuwnz_oferta/
      Consolidated companies - Pekao Group
      12	Bank Pekao SA	Warsaw	7.06.2017	20.02%	20.02%	Banking services. https://www.pekao.com.pl/
      13	Pekao Bank Hipoteczny SA	Warsaw	7.06.2017	20.02%	20.02%	Banking services. http://www.pekaobh.pl/
      14	Pekao Leasing sp. z o.o.	Warsaw	7.06.2017	20.02%	20.02%	Lease services. http://www.pekaoleasing.com.pl/
      15	Pekao Investment Banking SA	Warsaw	7.06.2017	20.02%	20.02%	Brokerage services. http://pekaoib.pl/
      16	Pekao Inwestycje Dłużne sp. z o.o.	Warsaw	15.12.2025	20.02%	20.02%	Auxiliary financial activities.
      17	Pekao Faktoring sp. z o.o.	Lublin	7.06.2017	20.02%	20.02%	Factoring services. https://www.pekaofaktoring.pl/
      18	Pekao Towarzystwo Funduszy Inwestycyjnych SA	Warsaw	11.12.2017	20.02%	20.02%	Creation, representing and management of mutual funds. https://pekaotfi.pl/

      No.	Name of the entity	Registered office	Date of obtaining control / significant influence	% of the share capital and % of votes held directly or indirectly by PZU		Line of business and website
      				31 March 2026	31 December 2025
      Consolidated companies - Pekao Group - continued
      19	Centrum Kart SA	Warsaw	7.06.2017	20.02%	20.02%	Auxiliary financial services.
      20	Pekao Financial Services sp. z o.o.	Warsaw	7.06.2017	46.82% 1)	46.82% 1)	Transfer agent. http://www.pekao-fs.com.pl/pl/
      21	Pekao CoNext sp. z o.o. (formerly: Pekao Direct sp. z o.o.) 2)	Warsaw	7.06.2017	20.02%	20.02%	Body leasing.
      22	Pekao Property SA in liquidation	Warsaw	7.06.2017	20.02%	20.02%	Development activities.
      23	Pekao Fundusz Kapitałowy sp. z o.o.	Warsaw	7.06.2017	20.02%	20.02%	Business consulting.
      24	Pekao Investment Management SA	Warsaw	11.12.2017	20.02%	20.02%	Holding activities. https://pekaotfi.pl/o-nas/pekao-investment-mangament
      25	PeUF sp. z o.o.	Warsaw	20.07.2021	20.02%	20.02%	Auxiliary financial activities.
      Consolidated companies - Alior Bank Group
      26	Alior Bank SA	Warsaw	18.12.2015	31.93%	31.93%	Banking services. https://www.aliorbank.pl/
      27	Alior Services sp. z o.o.	Warsaw	18.12.2015	31.93%	31.93%	Other activity supporting financial services, excluding insurance and pension funds.
      28	Alior Leasing sp. z o.o.	Warsaw	18.12.2015	31.93%	31.93%	Lease services. https://www.aliorbank.pl/wlasna-dzialalnosc/alior-leasing.html
      29	Meritum Services ICB SA	Gdańsk	18.12.2015	31.93%	31.93%	IT services.
      30	Alior Towarzystwo Funduszy Inwestycyjnych SA	Warsaw	18.12.2015	31.93%	31.93%	Asset management services and management of Alior SFIO subfunds. https://www.aliortfi.com/
      31	AL Finance sp. z o.o.	Katowice	30.01.2017	31.93%	31.93%	Agency activities.
      32	Corsham sp. z o.o.	Warsaw	4.02.2019	31.93%	31.93%	No business conducted.
      33	RBL_VC sp. z o.o.	Warsaw	7.11.2019	31.93%	31.93%	Venture capital fund management activities.
      34	RBL_VC sp. z o.o. ASI SKA	Warsaw	17.04.2020	31.93%	31.93%	Venture capital fund management activities.
      35	Alior Leasing Individual sp. z o.o.	Warsaw	23.10.2023	31.93%	31.93%	Finance lease.
      Consolidated companies - PZU Zdrowie Group
      36	PZU Zdrowie SA	Warsaw	2.09.2011	100.00%	100.00%	Medical services. https://www.pzu.pl/pl/grupa-pzu/spolki/pzu-zdrowie
      37	Centrum Medyczne Medica sp. z o.o.	Płock	9.05.2014	100.00%	100.00%	Medical services. https://www.plock.pzuzdrowie.pl/
      38	Sanatorium Uzdrowiskowe "Krystynka" sp. z o.o.	Ciechocinek	9.05.2014	99.09%	99.09%	Hospital, physical therapy and spa services. http://www.sanatoriumkrystynka.pl/
      39	Przedsiębiorstwo Świadczeń Zdrowotnych i Promocji Zdrowia ELVITA- Jaworzno III sp. z o.o.	Jaworzno	1.12.2014	100.00%	100.00%	Medical services. https://www.jaworzno.pzuzdrowie.pl/

      No.	Name of the entity	Registered office	Date of obtaining control / significant influence	% of the share capital and % of votes held directly or indirectly by PZU		Line of business and website
      				31 March 2026	31 December 2025
      Consolidated companies - PZU Zdrowie Group - continued
      40	Przedsiębiorstwo Usług Medycznych PROELMED sp. z o.o.	Łaziska Górne	1.12.2014	57.00%	57.00%	Medical services. http://www.proelmed.pl/
      41	Centrum Medyczne Gamma sp. z o.o.	Warsaw	8.09.2015	100.00%	100.00%	Medical services. http://www.cmgamma.pl/
      42	Tomma Diagnostyka Obrazowa SA	Poznań	9.12.2019	100.00%	100.00%	Medical services. https://tomma.com.pl/
      43	Bonus-Diagnosta sp. z o.o.	Poznań	9.12.2019	100.00%	100.00%	Medical services.
      44	Boramed Centrum Medyczne sp. z o.o.	Warsaw	31.05.2023	100.00%	100.00%	Medical services. https://www.boramed.pl/
      45	Humana Medica Omeda sp. z o.o.	Białystok	28.11.2025	100.00%	100.00%	Medical services. https://omeda.pl/#
      Consolidated companies - other companies
      46	Powszechne Towarzystwo Emerytalne PZU SA	Warsaw	8.12.1998	100.00%	100.00%	Management of pension funds. https://www.pzu.pl/pl/grupa-pzu/spolki/pte-pzu
      47	PZU Centrum Operacji SA	Warsaw	30.11.2001	100.00%	100.00%	Auxiliary activity associated with insurance and pension funds. https://www.pzu.pl/grupa-pzu/spolki/pzu-centrumoperacji
      48	Towarzystwo Funduszy Inwestycyjnych PZU SA	Warsaw	30.04.1999	100.00%	100.00%	Creation, representing and management of mutual funds. https://www.pzu.pl/pl/grupa-pzu/spolki/tfi-pzu
      49	PZU Pomoc SA	Warsaw	18.03.2009	100.00%	100.00%	Provision of assistance services. https://www.pzu.pl/grupa-pzu/spolki/pzu-pomoc
      50	PZU Finance AB (publ.) in liquidation	Stockholm (Sweden)	2.06.2014	100.00%	100.00%	Financial services.
      51	PZU Finanse sp. z o.o.	Warsaw	8.11.2013	100.00%	100.00%	Financial and accounting services.
      52	Tower Inwestycje sp. z o.o.	Warsaw	27.08.1998	100.00%	100.00%	Development activity, operation and lease of properties. https://www.pzu.pl/pl/grupa-pzu/spolki/tower-inwestycje
      53	Ogrodowa-Inwestycje sp. z o.o.	Warsaw	15.09.2004	100.00%	100.00%	Buying, operating, renting and selling real estate. http://www.ogrodowainwestycje.pl/
      54	Arm Property sp. z o.o.	Kraków	26.11.2014	100.00%	100.00%	Purchase and sale of real estate.
      55	Ipsilon sp. z o.o.	Warsaw	2.04.2009	100.00%	100.00%	No business conducted.
      56	PZU LAB SA	Warsaw	13.09.2011	100.00%	100.00%	Consulting and training services, development of technology innovation to support technical and procedural security processes and risk management. https://www.pzu.pl/pl/grupa-pzu/spolki/pzu-lab

      No.	Name of the entity	Registered office	Date of obtaining control / significant influence	% of the share capital and % of votes held directly or indirectly by PZU		Line of business and website
      				31 March 2026	31 December 2025
      Consolidated companies - other companies - continued
      57	Omicron BIS SA	Warsaw	28.08.2014	100.00%	100.00%	No business conducted.
      58	LLC SOS Services Ukraine	Kiev (Ukraine)	1.07.2005	100.00%	100.00%	Assistance services.
      59	PZU TECH SA	Warsaw	15.09.2017	100.00%	100.00%	Other service activities in the field of information technology and computer technology.
      60	Tulare Investments sp. z o.o.	Warsaw	15.09.2017	100.00%	100.00%	No business conducted.
      61	PZU Projekt 01 SA	Warsaw	1.09.2020	100.00%	100.00%	No business conducted.
      62	UAB "B10 biurai"	Vilnius (Lithuania)	14.03.2023	100.00%	100.00%	Property management.
      63	UAB "B10 apartamentai"	Vilnius (Lithuania)	14.03.2023	100.00%	100.00%	Property management.
      Consolidated companies - Armatura Group
      64	Armatura Kraków SA	Kraków	7.10.1999	100.00%	100.00%	Production and sale of radiators and sanitary fittings and administration and management of the group. https://www.kfa.pl/
      65	Aquaform Ukraine ТОW in liquidation	Zhytomyr (Ukraine)	15.01.2015	100.00%	100.00%	No business conducted.
      Consolidated companies - mutual funds
      66	PZU SFIO Universum	Warsaw	15.12.2009	n/a	n/a	Investment of funds collected from fund members.
      67	PZU FIZ Aktywów Niepublicznych Sektora Nieruchomości 2	Warsaw	21.11.2011	n/a	n/a	As above.
      68	PZU FIZ Aktywów Niepublicznych BIS 1	Warsaw	12.12.2012	n/a	n/a	As above.
      69	PZU FIZ Aktywów Niepublicznych BIS 2	Warsaw	19.11.2012	n/a	n/a	As above.
      70	inPZU Akcje Polskie	Warsaw	10.05.2018	n/a	n/a	As above.
      71	inPZU Obligacje Rynków Wschodzących	Warsaw	10.05.2018	n/a	n/a	As above.
      72	inPZU Akcje Rynków Wschodzących	Warsaw	28.10.2019	n/a	n/a	As above.
      73	inPZU Akcje Polskie Małych i Średnich Spółek	Warsaw	28.10.2019	n/a	n/a	As above.
      74	PZU FIZ Legato Absolutnej Stopy Zwrotu	Warsaw	11.08.2021	n/a	n/a	As above.
      75	inPZU Akcje Rynku Surowców	Warsaw	15.12.2021	n/a	n/a	As above.
      76	inPZU Akcje Rynku Złota	Warsaw	15.12.2021	n/a	n/a	As above.
      77	inPZU Akcje Sektora Zielonej Energii	Warsaw	15.12.2021	n/a	n/a	As above.
      78	inPZU Akcje Sektora Informatycznego	Warsaw	15.12.2021	n/a	n/a	As above.
      79	inPZU Akcje Sektora Nieruchomości	Warsaw	15.12.2021	n/a	n/a	As above.
      80	inPZU Akcje Europejskie	Warsaw	15.12.2021	n/a	n/a	As above.
      81	inPZU Obligacje Skarbowe Amerykańskie	Warsaw	15.12.2021	n/a	n/a	As above.

      No.	Name of the entity	Registered office	Date of obtaining control / significant influence	% of the share capital and % of votes held directly or indirectly by PZU		Line of business and website
      				31 March 2026	31 December 2025
      Consolidated companies - mutual funds - continued
      82	PZU Dłużny Korporacyjny	Warsaw	12.04.2023	n/a	n/a	Investment of funds collected from fund members.
      83	inPZU Złoto	Warsaw	7.09.2023	n/a	n/a	As above.
      84	inPZU Akcje Sektora Cyberbezpieczeństwa	Warsaw	7.09.2023	n/a	n/a	As above.
      85	inPZU Akcje Sektora Technologii Kosmicznych	Warsaw	7.09.2023	n/a	n/a	As above.
      86	inPZU Zielone Obligacje	Warsaw	7.09.2023	n/a	n/a	As above.
      87	inPZU Obligacje Korporacyjne High Yield	Warsaw	7.09.2023	n/a	n/a	As above.
      88	inPZU Puls Życia 2070	Warsaw	4.01.2024	n/a	n/a	As above.
      89	PZU FIZ Forte Absolutnej Stopy Zwrotu	Warsaw	28.01.2025	n/a	n/a	As above.
      90	PZU FIZ Obligacji Korporacyjnych	Warsaw	1.04.2025	n/a	n/a	As above.
      91	PZU FIZ Private Debt	Warsaw	25.09.2025	n/a	n/a	As above.
      92	PZU ETF WIG20 TR + mWIG40 TR Portfelowy FIZ	Warsaw	17.03.2026	n/a	n/a	As above.

      Consolidated companies - special purpose vehicles of PZU FIZ Aktywów Niepublicznych Sektora Nieruchomości 2

      93	PH 3 sp. z o.o.	Warsaw	28.01.2011	100.00%	100.00%	Real property management.
      94	PH 3 sp. z o.o. SKA	Warsaw	28.01.2011	100.00%	100.00%	As above.
      95	Portfel Alliance Silesia III sp. z o.o.	Warsaw	2.10.2012	100.00%	100.00%	As above.
      96	Portfel Alliance Silesia IV sp. z o.o.	Warsaw	4.10.2012	100.00%	100.00%	As above.
      97	Portfel Alliance Silesia V sp. z o.o.	Warsaw	8.10.2012	100.00%	100.00%	As above.
      98	Portfel PB 1 sp. z o.o.	Warsaw	3.10.2012	100.00%	100.00%	As above.
      99	Portfel PB 2 sp. z o.o.	Warsaw	8.10.2012	100.00%	100.00%	As above.
      100	Portfel PH 1 sp. z o.o.	Warsaw	2.10.2012	100.00%	100.00%	As above.
      101	Portfel PH 2 sp. z o.o.	Warsaw	8.10.2012	100.00%	100.00%	As above.
      102	EBP 1 sp. z o.o.	Warsaw	28.09.2018	100.00%	100.00%	As above.
      103	EBP 2 sp. z o.o.	Warsaw	11.07.2012	100.00%	100.00%	As above.
      104	EBP 3 Sp. z o.o.	Warsaw	13.07.2012	100.00%	100.00%	As above.
      105	Ogrody Lubicz sp. z o.o.	Kraków	25.07.2012	100.00%	100.00%	As above.
      106	3 PB 1 sp. z o.o.	Warsaw	22.03.2012	100.00%	100.00%	As above.
      107	3 PB 1 sp. z o.o. SKA	Warsaw	22.03.2012	100.00%	100.00%	As above

      No.	Name of the entity	Registered office	Date of obtaining control / significant influence	% of the share capital and % of votes held directly or indirectly by PZU		Line of business and website
      				31 March 2026	31 December 2025
      Consolidated companies - special purpose vehicles of PZU FIZ Aktywów Niepublicznych Sektora Nieruchomości 2 - contonued
      108	Portfel2 PH5 sp. z o.o.	Warsaw	28.11.2014	100.00%	100.00%	Real property management.
      109	2 PB 1 sp. z o.o.	Warsaw	13.12.2011	100.00%	100.00%	As above.
      110	2 PB1 sp. z o.o. SKA	Warsaw	13.12.2011	100.00%	100.00%	As above.
      111	2 PB 2 sp. z o.o.	Warsaw	8.02.2012	100.00%	100.00%	As above.
      112	2PB3 sp. z o.o.	Warsaw	12.07.2012	100.00%	100.00%	As above.
      113	2PB4 sp. z o.o.	Warsaw	11.07.2012	100.00%	100.00%	As above.
      114	2PB5 sp. z o.o.	Warsaw	25.07.2012	100.00%	100.00%	As above.
      115	2 PM 1 sp. z o.o.	Warsaw	28.03.2014	100.00%	100.00%	As above.
      116	2PM2 sp. z o.o.	Warsaw	4.12.2012	100.00%	100.00%	As above.
      117	2 PM 3 sp. z o.o.	Warsaw	13.08.2014	100.00%	100.00%	As above.
      118	2PM4 sp. z o.o.	Warsaw	7.11.2014	100.00%	100.00%	As above.
      119	2 PM 5 sp. z o.o.	Warsaw	7.11.2014	100.00%	100.00%	As above.
      Associates
      120	re58 SA	Warsaw	3.10.2019	34.00%	34.00%	Advertising activity. https://www.re58.pl/
      121	Usługi Logistyczne SA in liquidation	Warsaw	23.12.2020	30.92%	30.92%	Retail sale of newspapers and stationery in specialized stores.
      122	Krajowy Integrator Płatności SA 3)	Poznań	31.03.2021	7.68%	7.67%	Other monetary intermediation. https://tpay.com/

      1) PZU directly holds a 33.5% equity stake in Pekao Financial Services sp. z o.o. while Pekao holds 66.5%.

      2) The change of the entity name was registered 29 April 2026.

      3) Pekao's associate in which it holds a 38.33% stake. Therefore, the Management Board of PZU believes that PZU Group has a significant influence on this company.

   3. Changes in the scope of consolidation and structure of PZU Group

      The accounting policy concerning the settlement of acquisition transactions is presented in detail in the consolidated financial statements for 2025.

      The changes in the scope of consolidation and in the PZU Group's structure that occurred in the 3-month period ended 31 March 2026 are presented in the following sections.

      1. Changes to consolidation of mutual funds

         From 17 March 2026, the newly launched PZU ETF WIG20 TR + mWIG40 TR Portfelowy Fundusz Inwestycyjny Zamknięty has been included in consolidation.

         From 31 March 2026, due to the loss of control, consolidation of the inPZU Akcje Rynków Rozwiniętych was discontinued.

      2. Liquidation of PZU Group companies

         On 27 January 2026, the shareholders' meetings of Portfel Alliance Silesia VII sp. z o.o. in liquidation and Portfel PM1 sp. z o.o. in liquidation and on 26 February 2026, the shareholders' meeting of Portfel Alliance Silesia I BIS sp. z o.o. in liquidation resolved to complete the liquidation of the companies. The liquidations had no impact on the interim condensed consolidated financial statements of the PZU Group.

   4. ‌Non-controlling interest

      The table below presents subsidiaries with certain non-controlling interests (at present or in the past):

      Name of the entity	31 March 2026	31 December 2025
      Pekao 1)	79.98%	79.98%
      Alior Bank 2)	68.07%	68.07%
      Przedsiębiorstwo Usług Medycznych PROELMED sp. z o.o.	43.00%	43.00%
      Sanatorium Uzdrowiskowe "Krystynka" sp. z o.o.	0.91%	0.91%

      1) As a result, PZU also holds non-controlling interests in the Pekao's subsidiaries listed in the table in section 2.2.

      2) As a result, PZU also holds non-controlling interests in the Alior Bank's subsidiaries listed in the table in section 2.2.

      Carrying amount of non-controlling interests	31 March 2026	31 December 2025
      Pekao Group	28,892	28,348
      Alior Bank Group	8,932	8,833
      Other	1	1
      Total	37,825	37,182

      Both Pekao and Alior Bank conduct operations primarily in the territory of Poland. The tables below present condensed financial information for the Pekao Group and the Alior Bank Group included in the consolidated financial statements (without consolidation eliminations). The data of the Pekao Group and the Alior Bank Group incorporate the effect of adjustments resulting from the measurement of assets and liabilities to fair value as at the date control was acquired and their subsequent amortization over time.

      Assets	Pekao Group		Alior Bank Group
      	31 March 2026	31 December 2025	31 March 2026	31 December 2025
      Goodwill	693	693	-	-
      Intangible assets	2,158	2,202	669	660
      Property, plant and equipment	2,313	2,276	813	829
      Entities accounted for using the equity method	154	152	-	-
      Assets pledged as collateral for liabilities	1,238	1,080	-	-
      Assets held for sale	5	21	-	-
      Loan receivables from clients (including finance lease receivables)	187,624	183,817	66,578	64,878
      Financial derivatives	5,064	6,234	755	908
      Investment financial assets	139,114	140,375	31,818	28,003
      Measured at amortized cost	120,283	109,763	9,276	5,337
      Measured at fair value through other comprehensive income	16,082	27,889	22,480	22,543
      Measured at fair value through profit or loss	2,749	2,723	62	123
      Deferred tax assets	1,748	1,384	701	682
      Current income tax receivables	1	1	46	46
      Other receivables	2,922	2,551	1,568	1,556
      Other assets	373	257	159	105
      Cash and cash equivalents	13,041	11,287	1,565	4,063
      Total assets	356,448	352,330	104,672	101,730

      Equity and liabilities	Pekao Group		Alior Bank Group
      	31 March 2026	31 December 2025	31 March 2026	31 December 2025
      Equity
      Equity attributable to equity holders of the parent company	36,124	35,444	13,122	12,976
      Share capital	263	263	1,306	1,306
      Other capital	25,853	26,403	8,972	9,225
      Retained earnings	10,008	8,778	2,844	2,445
      Non-controlling interest	15	14	-	-
      Total equity	36,139	35,458	13,122	12,976
      Liabilities
      Subordinated liabilities	5,717	5,642	-	-
      Liabilities on the issue of own securities	19,727	20,265	2,357	2,322
      Liabilities to banks	5,603	5,436	458	589
      Liabilities to clients under deposits	270,633	267,259	85,350	82,557
      Financial derivatives	5,257	5,805	494	337
      Current income tax liabilities	295	440	55	217
      Other liabilities	10,509	9,370	2,383	2,304
      Provisions	2,548	2,634	451	426
      Deferred income tax liabilities	20	21	2	2
      Total liabilities	320,309	316,872	91,550	88,754
      Total equity and liabilities	356,448	352,330	104,672	101,730

      Consolidated profit and loss account for the period from 1 January to 31 March 2026	PZU Group	Elimination of Pekao's data	Elimination of Alior Bank's data	Elimination of consolidation adjustments	PZU Group without Pekao and Alior Bank
      Insurance service result before reinsurance	1,450	-	-	-	1,450
      Insurance revenue	7,776	-	-	-	7,776
      Insurance service expenses	(6,326)	-	-	-	(6,326)
      Net income or expenses from reinsurance contracts held	(313)	-	-	-	(313)
      Reinsurance premium allocation	(457)	-	-	-	(457)
      Amounts recoverable from reinsurers	144	-	-	-	144
      Insurance service result	1,137	-	-	-	1,137
      Insurance finance income or expenses	(399)	-	-	-	(399)
      Finance income or expenses from reinsurance	73	-	-	-	73
      Interest income calculated using the effective interest rate, and equalized to them	6,663	(4,462)	(1,627)	66	640
      Other net investment income	190	(71)	54	(6)	167
      Result from derecognition of financial instruments and investments not measured at fair value through profit or loss	2	6	(4)	-	4
      Result from allowances for expected credit losses	(335)	201	114	-	(20)
      Net movement in fair value of assets and liabilities measured at fair value	(15)	48	(86)	-	(53)
      Revenue from commissions and fees	1,417	(1,081)	(289)	65	112
      Fee and commission expenses	(322)	256	71	(6)	(1)
      PZU Group's non-insurance operating expenses	(3,332)	2,064	725	(125)	(668)
      Interest expenses	(1,574)	1,158	375	(13)	(54)
      Legal risk costs of foreign currency mortgage loans	(60)	22	38	-	-
      Other operating income	495	(50)	(69)	22	398
      Other operating expenses	(195)	66	62	(3)	(70)
      Operating profit	3,745	(1,843)	(636)	-	1,266
      Share of the net financial results of entities accounted for using the equity method	1	(2)	-	-	(1)
      Profit before tax	3,746	(1,845)	(636)	-	1,265
      Income tax	(1,129)	614	237	-	(278)
      Net profit	2,617	(1,231)	(399)	-	987
      - profit attributable to the equity holders of the Parent Company	1,362	(248)	(127)	-	987
      - profit attributable to holders of non-controlling interests	1,255	(983)	(272)	-	-

      Consolidated profit and loss account for the period from 1 January to 31 March 2025	PZU Group	Elimination of Pekao's data	Elimination of Alior Bank's data	Elimination of consolidation adjustments	PZU Group without Pekao and Alior Bank
      Insurance service result before reinsurance	1,454	-	-	-	1,454
      Insurance revenue	7,533	-	-	-	7,533
      Insurance service expenses	(6,079)	-	-	-	(6,079)
      Net income or expenses from reinsurance contracts held	(203)	-	-	-	(203)
      Reinsurance premium allocation	(500)	-	-	-	(500)
      Amounts recoverable from reinsurers	297	-	-	-	297
      Insurance service result	1,251	-	-	-	1,251
      Insurance finance income or expenses	(445)	-	-	-	(445)
      Finance income or expenses from reinsurance	(49)	-	-	-	(49)
      Interest income calculated using the effective interest rate, and equalized to them	7,253	(4,908)	(1,762)	67	650
      Other net investment income	(116)	(62)	26	(9)	(161)
      Result from derecognition of financial instruments and investments not measured at fair value through profit or loss	14	(8)	(7)	-	(1)
      Result from allowances for expected credit losses	(280)	157	125	-	2
      Net movement in fair value of assets and liabilities measured at fair value	672	(44)	(13)	-	615
      Revenue from commissions and fees	1,244	(943)	(271)	54	84
      Fee and commission expenses	(280)	215	69	(4)	-
      PZU Group's non-insurance operating expenses	(3,003)	1,858	695	(109)	(559)
      Interest expenses	(2,010)	1,494	476	(15)	(55)
      Legal risk costs of foreign currency mortgage loans	(66)	49	17	-	-
      Other operating income	426	(53)	(31)	20	362
      Other operating expenses	(155)	48	28	(4)	(83)
      Operating profit	4,456	(2,197)	(648)	-	1,611
      Share of the net financial results of entities accounted for using the equity method	(2)	2	-	-	-
      Profit before tax	4,454	(2,195)	(648)	-	1,611
      Income tax	(1,018)	507	167	-	(344)
      Net profit	3,436	(1,688)	(481)	-	1,267
      - profit attributable to the equity holders of the Parent Company	1,760	(339)	(154)	-	1,267
      - profit attributable to holders of non-controlling interests	1,676	(1,349)	(327)	-	-

      Statement of comprehensive income	Pekao Group		Alior Bank Group
      	1 January - 31 March 2026	1 January- 31 March 2025	1 January - 31 March 2026	1 January- 31 March 2025
      Net profit	1,231	1,688	399	481
      Net other comprehensive income	(550)	390	(253)	160
      Subject to subsequent reclassification to profit or loss	(516)	336	(252)	160
      Valuation of debt instruments	(192)	115	(214)	69
      Reclassification of debt instruments valuation for the profit and loss account	5	(8)	(6)	(3)
      Cash flow hedging	(476)	308	(112)	131
      Income tax on items subject to subsequent transfer to profit or loss	147	(79)	80	(37)
      Not to be reclassified to profit or loss in the future	(34)	54	(1)	-
      Valuation of equity instruments	(44)	67	(2)	-
      Income tax on items not subsequently transferred to profit or loss	10	(13)	1	-
      Total net comprehensive income	681	2,078	146	641

      Cash flow statement	Pekao Group		Alior Bank Group
      	1 January - 31 March 2026	1 January- 31 March 2025	1 January - 31 March 2026	1 January- 31 March 2025
      Net cash flows from operating activities	720	3,558	1,309	2,251
      Net cash flows from investing activities	1,248	2,734	(3,801)	287
      Net cash flows from financing activities	(268)	(2,559)	(20)	713
      Total net cash flows	1,700	3,733	(2,512)	3,251

      Dividend-related information	Pekao		Alior Bank
      	1 January - 31 March 2026	1 January- 31 March 2025	1 January - 31 March 2026	1 January- 31 March 2025
      Date of ratifying the dividend	-	24 April 2025	29 April 2026	-
      Record date	-	7 May 2025	13 May 2026	-
      Dividend payment date	-	23 May 2025	27 May 2026	-
      Dividend per share (PLN)	-	18.36	8.93	-
      Dividend attributable to PZU Group	-	965	372	-
      Dividend attributable to non-controlling interest	-	3,854	794	-

3. Shareholder structure

   As at the date of submission of this interim report, PZU's shareholding structure, including shareholders holding at least 5% of votes at the General Meeting of PZU, was as follows:

   No.	Shareholder's name	Number of shares and votes at the General Meeting of Shareholders	Percentage held in the share capital and in the total number of votes at the General Meeting of Shareholders
   1	State Treasury	295,217,300	34.1875%
   2	Other shareholders	568,305 700	65.8125%
   Total		863,523,000	100%

   The State Treasury, holding 34.1875% of PZU shares entitling it to 34.1875% of votes at the PZU General Meeting, controls PZU within the meaning of IFRS 10.

   1. Indication of changes in the ownership structure of significant shareholdings in the issuer

      During the three-month period ended 31 March 2026, there were no transactions resulting in changes to the ownership structure of significant PZU equity stakes, except for the transaction described below.

      As a result of the PZU share sale transaction on 9 March 2026, the total stake of BlackRock, Inc. in the share capital and in the total number of votes at the PZU General Meeting, as of 12 March 2026, fell below 5% and amounted to 4.98%.

   2. Shares or rights to shares held by persons managing or supervising PZU

      Number of PZU shares held by PZU Management Board Members and PZU Supervisory Board Members	13 May 2026	25 February 2026
      PZU Management Board Members
      Maciej Fedyna	300	300
      Tomasz Tarkowski	830	830
      Jan Zimowicz	1,520	1,520
      PZU Supervisory Board Members
      Jarosław Antonik	150	150

      Other members of the Management Board and Members of the Supervisory Board did not hold PZU shares or rights to them either at the date of conveying this interim report or at the date of conveying the annual report for 2025.

4. Key management

   Key management personnel, within the meaning of IAS 24, in the PZU Group are considered to be the Management Board of the parent company, Directors of the PZU Group at PZU and PZU Życie and Members of the Management Boards of Pekao and Alior Bank.

   The positions of the Directors of the PZU Group within PZU and PZU Życie are entrusted either to individuals who simultaneously perform the functions of Management Board Members at PZU Życie or PZU, or to individuals who are not simultaneously Management Board Members at PZU Życie or PZU.

   The Management Boards of PZU and PZU Życie, as well as the Directors of the PZU Group within PZU and PZU Życie, ensure a consistent and efficient governance model, based on a functional division of responsibilities for the respective areas of the companies' operations. The Directors of the PZU Group in PZU generally oversee areas that are analogous to the areas they supervise at PZU Życie in their capacities as Members of the Management Board or as PZU Group Director.

   Members of the Management Boards of Pekao and Alior Bank are responsible for planning, managing and controlling processes that affect the balance sheet total and financial results of these banks. Due to the significant share of these values in the balance

   sheet total and consolidated financial result of the PZU Group, a decision was made to recognize Members of the Management Boards of Pekao and Alior Bank as key management personnel of the PZU Group.

   1. Management Board of the Parent Company

      From 1 January 2026, the composition of the Management Board of PZU was as follows:

      • Bogdan Benczak - President of the PZU Management Board;

      • Maciej Fedyna - Member of the PZU Management Board;

      • Bartosz Grześkowiak - Member of the PZU Management Board;

      • Elżbieta Häuser-Schöneich - Member of the PZU Management Board;

      • Tomasz Kulik - Member of the PZU Management Board;

      • Tomasz Tarkowski - Member of the PZU Management Board;

      • Jan Zimowicz - Member of the PZU Management Board.

        In connection with the expiry, on 31 December 2025, of the term of office covering three full financial years 2023-2025, on 14 April 2026 the Supervisory Board of PZU adopted a resolution to dismiss the Management Board of PZU composed of: Bogdan Benczak, Maciej Fedyna, Bartosz Grześkowiak, Elżbieta Häuser Schöneich, Tomasz Kulik, Tomasz Tarkowski and Jan Zimowicz and declared the expiration of their existing mandate. The dismissal resolution came into force upon its adoption.

        On 14 April 2026, the Supervisory Board of PZU adopted a resolution to appoint Bogdan Benczak to the Management Board of PZU for a new term of office, entrusting him with the function of President of the Management Board of PZU.

        On 14 April 2026, the Supervisory Board of PZU adopted resolutions regarding the appointment of Maciej Fedyna, Elżbieta Häuser-Schöneich, Tomasz Tarkowski, Jan Zimowicz, Kazimierz Karolczak, and Rafał Kiliński to the Management Board of PZU for the new term.

        The appointment of all of the above-mentioned individuals is for the joint term commencing upon the entry into force of the resolution regarding the appointment of the President of the Management Board of PZU and covering three full financial years, 2027-2029.

        In the case of Kazimierz Karolczak, the appointment resolution entered into force on 22 April 2026, and in the case of Rafał Kiliński, it will enter into force on 18 May 2026. For the remaining individuals, the appointment resolutions entered into force upon their adoption.

        From 22 April 2026 to the date of signing the condensed interim consolidated financial statements, the PZU Management Board consisted of the following persons:

      • Bogdan Benczak - President of the PZU Management Board;

      • Maciej Fedyna - Member of the PZU Management Board;

      • Elżbieta Häuser-Schöneich - Member of the PZU Management Board;

      • Kazimierz Karolczak - Member of the PZU Management Board;

      • Tomasz Tarkowski - Member of the PZU Management Board;

      • Jan Zimowicz - Member of the PZU Management Board.

   2. PZU Group Directors

      As of 1 January 2026, the positions of PZU Group Directors were held by:

      • In PZU - who are Members of the Management Board of PZU Życie:

        • Artur Fromberg;

        • Michał Kopyt;

        • Katarzyna Majewska;

        • Michał Świtalski;

        • Iwona Wróbel;

      • In PZU Życie - who are Members of the Management Board of PZU:

        • Bartosz Grześkowiak;

        • Elżbieta Häuser-Schöneich;

        • Jan Zimowicz;

      • In PZU and PZU Życie - who are not simultaneously Members of the Management Board:

        • Andrzej Mikosz;

        • Rafał Cegieła (only in PZU).

          On 14 April 2026, due to the expiration of his mandate as a Member of the Management Board of PZU (following dismissal by the Supervisory Board of PZU - the end of the PZU Management Board's term), Bartosz Grześkowiak ceased to hold the position of PZU Group Director at PZU Życie.

          On 21 April 2026, due to the expiry of the mandate of the President of the Management Board at PZU Życie (following dismissal by the Supervisory Board of PZU Życie - end of the term of the Management Board of PZU Życie), Katarzyna Majewska ceased to hold the position of PZU Group Director at PZU, with the simultaneous performance of the function of a Member of the Management Board of PZU Życie.

          From 22 April 2026, Katarzyna Majewska hold the position of Director of PZU Group at PZU and PZU Życie.

          On 23 April 2026, the Management Board of PZU adopted resolutions regarding the appointment of Agnieszka Gocałek and Marcin Mikos to the positions of PZU Group Directors at PZU (in connection with their appointment as Members of the Management Board of PZU Życie). In the case of Agnieszka Gocałek, the resolution entered into force with effect from 21 April 2026, and in the case of Marcin Mikos, with effect from 27 April 2026.

          On 24 April 2026, the Management Board of PZU Życie adopted a resolution appointing Kazimierz Karolczak to the position of PZU Group Director at PZU Życie (in connection with his appointment as Member of the Management Board of PZU). The resolution entered into force with effect from 22 April 2026.

          From 27 April 2026 until the date of signing the interim condensed consolidated financial statements, the positions of PZU Group Directors were held by:

      • In PZU - who are Members of the Management Board of PZU Życie:

        • Artur Fromberg;

        • Agnieszka Gocałek;

        • Michał Kopyt;

        • Marcin Mikos;

        • Michał Świtalski;

        • Iwona Wróbel;

      • In PZU Życie - who are Members of the Management Board of PZU:

        • Elżbieta Häuser-Schöneich;

        • Kazimierz Karolczak;

        • Jan Zimowicz;

      • In PZU and PZU Życie - who are not simultaneously Members of the Management Board:

        • Katarzyna Majewska;

        • Andrzej Mikosz;

        • Rafał Cegieła (only in PZU).

   3. Pekao Management Board

      On 31 March 2026, the composition of the Pekao Management Board was as follows: Cezary Stypułkowski, Marcin Gadomski, Łukasz Januszewski, Michał Panowicz, Robert Sochacki, Błażej Szczecki, Dagmara Wojnar, Marcin Zygmanowski.

   4. Alior Bank Management Board

      On 31 March 2026, the composition of the Alior Bank Management Board was as follows: Piotr Żabski, Marcin Ciszewski, Jacek Iljin, Wojciech Przybył, Beata Stawiarska, Zdzisław Wojtera.

5. Supervisory Board of the parent company

   From January 1, 2026, the PZU Supervisory Board consisted of the following persons:

   • Marcin Kubicza - Chairman of the Supervisory Board;

   • Małgorzata Kurzynoga - Vice Chairman of the Supervisory Board;

   • Anna Machnikowska - Secretary of the Supervisory Board;

   • Jaroslaw Antonik - Member of the Supervisory Board;

   • Anita Elżanowska - Member of the Supervisory Board;

   • Michał Jonczynski - Member of the Supervisory Board;

   • Andrzej Kaleta - Member of the Supervisory Board;

   • Kazimierz Karolczak - Member of the Supervisory Board;

   • Beata Stelmach - Member of the Supervisory Board;

   • Maciej Szwarc - Member of the Supervisory Board;

   • Adam Uszpolewicz - Member of the Supervisory Board.

     Kazimierz Karolczak submitted his resignation from the position of Member of the Supervisory Board of PZU, effective 14 April 2026.

     Adam Uszpolewicz submitted his resignation from the position of Member of the Supervisory Board of PZU, as of 7 May 2026.

     From 7 May 2026 until the date of signing the condensed interim consolidated financial statements, composition of the Supervisory Board of PZU was as follows:

   • Marcin Kubicza - Chairman of the Supervisory Board;

   • Małgorzata Kurzynoga - Vice Chairman of the Supervisory Board;

   • Anna Machnikowska - Secretary of the Supervisory Board;

   • Jaroslaw Antonik - Member of the Supervisory Board;

   • Anita Elżanowska - Member of the Supervisory Board;

   • Michał Jonczynski - Member of the Supervisory Board;

   • Andrzej Kaleta - Member of the Supervisory Board;

   • Beata Stelmach - Member of the Supervisory Board;

   • Maciej Szwarc - Member of the Supervisory Board.

6. Key accounting policies, key estimates and judgments

   Detailed accounting policies and critical estimates and judgments are presented in the consolidated financial statements of the PZU Group for 2025.

   The accounting policies and calculation methods used in these condensed interim financial statements are the same as those used in the consolidated financial statements of the PZU Group for 2025.

   In accordance with IAS 34, the PZU Group has included in the condensed interim consolidated financial statements the principle of recognizing income tax expense on the basis of the best possible estimate of the weighted average annual income tax rate that the PZU Group expects to incur in the full fiscal year.

   The PZU Group decided to apply, from 1 April 2026, the principles of IFRS 9 regarding hedge accounting for all hedging relationships, except for those hedging the fair value of a portfolio of financial assets or liabilities against interest rate risk, where the hedged item is designated as a cash amount.

   In accordance with the requirements of IFRS 9, the standard was applied prospectively and does not require restatement of comparative periods. No amounts are recognized that would impact the income statement or the PZU Group's equity solely as a result of the transition to the new standard.

   1. Amendments to the applied IFRS
      1. Standards, interpretations and amendments to standards effective from 1 January 2026

         The following amendments to standards have been applied to the condensed interim consolidated financial statements.

         Name of standard/ interpretation	Comment
         	Approved by Regulation 2025/1047, as amended by Regulation 2025/1266.
         	The amendments are in response to emerging concerns in the application of the standards and include, among others:
         	system;
         Amendments to IFRS 9 and IFRS 7 - changes in classification and measurement of financial instruments
         	o contractually linked instruments - the issuer may prioritize payments using multiple contractually linked instruments, leading to concentration of credit risk (so-called "tranches"). The amendment indicates that a key element that distinguishes contractually linked agreements from other non-recourse instruments is the cascading payment structure, resulting in a disproportionate allocation of cash shortfalls between tranches. The amendment also points out that not all transactions with multiple debt instruments meet the criteria for transactions with multiple contractually related instruments, and points out examples. It further clarifies that reference to instruments in the underlying pool may include financial instruments outside the scope of IFRS 9.

         • clarification of the timing of recognition and discontinuation of recognition of financial assets and liabilities, including a new exception for financial liabilities settled by electronic transfer - if certain criteria are met, the amendments allow an entity to cease recognizing a financial liability (or part thereof) that will be settled using an electronic payment system, before the payment settlement date. An entity that chooses this option will be obliged to apply the selected approach to all settlements made by the same electronic payment

         • clarifications and additional guidance clarifying whether financial assets meet the criteria of the principal and interest flow test (SPPI test) - the amendments cover three areas considered when performing the SPPI test:

           • contractual conditions that can change cash flows based on contingent events (e.g., a change in interest rates dependent on specific ESG criteria);

           • terms of non-recourse instruments (instruments in which the right of the instrument holder to receive cash flows is contractually limited to a specific asset) - the existence of such terms does not automatically exclude compliance with the SPPI test, but requires in-depth analysis;

         • new disclosures for instruments whose contractual terms change the distribution over time or the amount of contractual cash flows based on contingencies not directly related to changes in underlying costs and credit risk (e.g., instruments with features relating to the level of achievement of environmental, social and governance (ESG) goals);

         Name of standard/ interpretation	Comment
         	comprehensive income (among other things, the need for separate presentation of gain or loss on instruments held at period end and those for which recognition has been discontinued); Amendments to standards had no significant effect on the consolidated financial statements.
         Annual updates - 11th edition	Approved by Regulation 2025/1331. The updates include changes to 5 standards: IAS 7, which stems from the use of the term "cost method," which is no longer used in IFRS. Amendments to standards had no significant effect on the consolidated financial statements.

         • amendment of disclosure requirements for equity instruments designated at fair value through other

         • for environmentally dependent electricity contracts, often taking the form of power purchase agreements:

           • clarify the application of the "for personal use" requirements;

           • allow the use of hedge accounting if such contracts are used as hedging instruments;

           • introduce new disclosure requirements to enable investors to understand the impact of such agreements on an entity's financial results and cash flows.

         • IFRS 1 - hedge accounting upon first-time adoption of IFRS - the amendment addresses a potential concern arising from inconsistent provisions between paragraph B6 of IFRS 1 and the hedge accounting requirements of IFRS 9.

         • IFRS 7:

           • gain or loss on discontinued recognition - the amendment addresses a potential ambiguity in paragraph B38 of IFRS 7, arising from an outdated reference to the paragraph, which was removed from the standard with the issuance of IFRS 13;

           • disclosure of deferred differences between fair value and transaction price - the amendment addresses inconsistencies between paragraph 28 of IFRS 7 and the accompanying implementation guidance, which arose when the implementation of IFRS 13 amended paragraph 28 but did not change the implementation guidance;

           • credit risk introduction and disclosures - the amendment addresses a potential concern by clarifying in paragraph IG1 that the guidance does not necessarily illustrate all the requirements of the referenced paragraphs of IFRS 7 and by simplifying some of the explanations.

         • IFRS 9:

           • discontinuation of recognition of lessee's lease obligations - the amendment addresses a potential ambiguity in the application of IFRS 9 requirements to recognize the expiration of a lessee's liability, which arises due to the fact that paragraph 2.1(b)(ii) of IFRS 9 contains a reference to paragraph 3.3.1, but does not contain a reference to paragraph 3.3.3 of IFRS 9;

           • transaction price - the amendment addresses a potential ambiguity arising from the reference in Appendix A to IFRS 9 to the definition of "transaction price" in IFRS 15, while the term "transaction price" is used in individual paragraphs of IFRS 9 with a meaning that is not necessarily consistent with the definition of the term in IFRS 15.

         • IFRS 10 - definition of "de facto agent" - the amendment addresses a potential concern arising from inconsistencies between paragraphs B73 and B74 related to an investor's determination of whether another party is acting on its behalf, by aligning the wording in both paragraphs.

         • IAS 7 - cost method - the amendment addresses a potential ambiguity in the application of paragraph 37 of

      2. Standards and interpretations and amendments to standards issued, not yet effective

         Approved by European Commission Regulation - coming into force on 1 January 2027

         Name of standard/ interpretation

         Comment

         IFRS 18 - Presentation and disclosures in financial statements

         Approved by Regulation 2026/338. IFRS 18 to replace IAS 1 - Presentation of Financial Statements The new standard aims to improve information on the financial performance of entities. The new requirements include, among others: Some of the requirements will remain unchanged from IAS 1. Some of the requirements will be transferred from IAS 1 to IAS 8. Modifications will also be made to IAS 7 and IAS 34. The application of the new standard will affect the structure of the primary financial statements (the consolidated profit and loss account and the consolidated cash flow statement), as well as the disclosures presented in the consolidated financial statements of the PZU Group. PZU Group is in the process of analyzing this impact.

         • presentation of the profit and loss account, in particular the disclosure of specific totals and subtotals - all income and expenses will have to be classified into one of five categories - operating, investment, finance, income tax and discontinued operations. The presentation of the operating result, the result before financing and income tax and profit or loss will be compulsory;

         • the performance measures used by management, defining them as subtotals that the entity uses in external communications, outside the financial statements, presenting a management perspective on the performance of the entity. IFRS 18 will require disclosure of all of an entity's performance measures in a single note, including how the measure was calculated, its value in use and a reconciliation to the most comparable value, in accordance with IFRS 18;

         • guidelines on aggregation and disaggregation of financial information.

         Not approved by the European Commission

         Name of standard/ interpretation	Comment
         IFRS 19 - Subsidiaries not accountable to the public - Disclosures	Date of issue by the IASB: 9 May 2024 as amended on 21 August 2025. Planned effective date according to IASB: 1 January 2027. The new IFRS 19 standard allows subsidiaries to limit the scope of disclosures when applying IFRS in their financial statements. This entitlement is available to entities: The application of IFRS 19 is optional. The disclosure requirements in IFRS 19 are a reduced version of the disclosure requirements in other IFRSs. An authorized subsidiary applying IFRS 19 is required to apply the requirements of other IFRS accounting standards regarding recognition, measurement and presentation requirements. The new standard will not affect the PZU Group's consolidated statements.
         Amendments to IAS 21 -The effects of changes in foreign exchange rates -Conversion into a hyperinflationary presentation currency	Date of issue by the IASB: 13 November 2025. Planned effective date according to IASB: 1 January 2027. The amendment provides guidance on converting financial statements from a non-hyperinflationary currency to a hyperinflationary currency. The amendment aims to reduce the diversity of practices and provide clear foundations for reporting in a hyperinflationary currency. The amendment will not affect the PZU Group's consolidated financial statements.

         • which are not publicly accountable, i.e. do not hold shares or listed debt instruments and do not hold assets in a fiduciary capacity to a wide range of outsiders;

         • the parent company of which applies IFRS in its consolidated financial statements.

   2. Use of estimates and assumptions

      The PZU Group has evaluated the estimates and assumptions made that affect the value of its individual assets and liabilities, as well as income and expenses presented in the condensed interim financial statements. Given the uncertainty of further economic developments, in particular due to the ongoing armed conflicts in Ukraine and the Middle East, the estimates made may change in the future. Uncertainties relate primarily to projections of macroeconomic assumptions, in particular those relating to key economic indicators (inflation, market interest rate levels, the level of the expected economic downturn, GDP, employment, housing prices, possible disruptions to capital markets), possible disruptions to activity resulting from decisions taken by state institutions, businesses and consumers, the effectiveness of aid programs designed to support businesses and consumers, and the development of mortality and other insurance risks.

      1. Judgments in exercising control

         In order to determine whether PZU Group has rights that are sufficient to give it power, that is practical ability to direct the relevant activities unilaterally, the PZU Group analyzes among others:

         • how many votes it holds at the shareholder meeting and whether it holds more votes than other investors (including potential voting rights and rights resulting from other contractual arrangements);

         • how many entities would have to act together in order to outvote the PZU Group;

         • distribution of votes at previous general meetings to analyze the activity or inactivity of other shareholders;

         • if the key personnel of the entity or members of the investee's governing body are related parties of the PZU Group;

         • capacity to appoint members of management and supervisory bodies of the entity;

         • commitments, if any, to ensure that an investee continues to operate as designed;

         • capacity to obligate the entity to perform or prevent it from performing significant transactions;

         • other prerequisites.

           The analysis of prerequisites for exercising control over Pekao and Alior Bank is presented in the table below.

           Criterion	Pekao	Alior Bank
           Share in votes at the shareholder meeting	20.02%	31.93%
           Shareholder agreements	On 23 January 2017, PZU and PFR (holding 12.8% of Pekao's share capital) signed a Shareholder Agreement to build Pekao's long-term value, implement a policy aimed at ensuring Pekao's development, financial stability and effective and prudent management. It defines the rules of cooperation between PZU and PFR, in particular pertaining to joint exercise of voting rights from the shares held and the implementation of a common long-term policy for Pekao's business. The Shareholder Agreement provides for the possibility of having real influence on Pekao's operating policies. An annex of 30 March 2023 added a new area of cooperation to the scope of the Agreement regarding non-financial sustainability reporting requirements. On 14 May 2025, an annex was signed extending the Shareholder Agreement until 7 June 2030, with the possibility of further extensions. The Management Board of PZU does not have any information about any agreements that may have been concluded between Pekao's other shareholders.	The PZU Group has not entered into agreements with other shareholders of Alior Bank. The Management Board of PZU also does not have any information about any agreements that may have been concluded between Alior Bank's other shareholders.
           Other shareholders	Three shareholders hold a stake of more than 5%, accounting in total for 16% shares. The remaining shareholders are dispersed and a significant number of entities would have to take concerted action to outvote PZU at the shareholder meeting. The provisions of paragraphs B73 - B75 of IFRS 10 and ESMA's guidance indicate that votes held by entities under the control of the same entity as PZU should also be considered when analyzing voting rights held, even if there are no formal agreements on joint voting. Although there are no formal agreements with other Treasury-related parties, PZU accepts that such parties may be "de facto agents" within the meaning of IFRS 10.B73. General Meeting resolutions necessary for the day-to-day management of Pekao's important activities are adopted by a simple majority. A qualified majority is required only for special matters (such as amending the charter) that exceed the scope of the day-to-day management of the entity. An analysis of attendance at past general meetings shows that it did not exceed 75% of those eligible to vote, which demonstrates the passive attitude of some shareholders, so that at past general meetings, since the acquisition of Pekao, PZU has been able to vote on the draft resolutions it proposed.	Three shareholders hold a stake of more than 5%, accounting in total for 23% shares. The remaining shareholders are dispersed and a significant number of entities would have to take concerted action to outvote PZU at the shareholder meeting. The provisions of paragraphs B73 - B75 of IFRS 10 and ESMA's guidance indicate that votes held by entities under the control of the same entity as PZU should also be considered when analyzing voting rights held, even if there are no formal agreements on joint voting. Although there are no formal agreements with other Treasury-related parties, PZU accepts that such parties may be "de facto agents" within the meaning of IFRS 10.B73. General Meeting resolutions necessary for the day-to-day management of Alior Bank's important activities are adopted by a simple majority. A qualified majority is required only for special matters (such as amending the charter) that exceed the scope of the day-to-day management of the entity. An analysis of attendance at past general meetings shows that it did not exceed 74% of those eligible to vote, which demonstrates the passive attitude of some shareholders, so that at past general meetings, since the acquisition of Alior Bank, PZU has been able to vote on the draft resolutions it proposed.
           PZU representatives in governing bodies	Supervisory Board members include persons fulfilling key management functions at PZU. Most members of the Supervisory Board were proposed by PZU or PFR.	Supervisory Board members include persons fulfilling key management functions at PZU. Most of the Supervisory Board members were nominated by the PZU Group.

           In the light of the above evidence, it has been determined that the PZU Group exercises control both over Pekao (since 7 June 2017) and over Alior Bank (since 18 December 2015) and over their subsidiaries and therefore they were consolidated. The above conclusion is based on a cyclical analysis of the audit, taking into account changing facts and circumstances, and contains significant judgment.

      2. Assets and liabilities under insurance and reinsurance contracts

         Significant assumptions regarding the valuation of assets and liabilities under insurance and reinsurance contracts are presented in section 10.1.1.

      3. Allowance for expected credit losses

         In preparing the condensed interim consolidated financial statements, PZU Group took into account the economic conditions (such as market prices, interest rates or exchange rates) that existed as at the balance sheet date.

         Information on changes in allowance for expected credit losses is presented in section 10.27.

      4. Goodwill

         PZU Group did not recognize any goodwill impairment losses in the 3-month period ended 31 March 2026.

      5. Provision for potential reimbursements of loan costs

         PZU Group monitors, on an ongoing basis, the value of estimated amounts resulting from prepaid consumer loans and, in the calculation of the provision for potential loan refunds, takes into account the most recent data on incoming claims and refund amounts. Detailed information on this subject is presented in section 10.37.

      6. Legal risk provision for foreign currency mortgage loans in foreign currencies

         As at 31 March 2026, the PZU Group assessed the probability of an impact of a legal risk of foreign currency mortgages on future expected cash flows from credit exposures and the probability of cash outflows.

         Key elements of the estimate include a projection of the total scale and duration of litigation, the expected financial impact of future judgments, including statutory interest costs, and consideration of the borrower settlement program.

         For more information thereon please see section 10.37.

7. Major events that have a significant impact on the structure of items of the financial statements

   In the 3-month period ended 31 March 2026, there were no events that resulted in any significant change to the structure of financial statement line items.

8. Correction of errors from previous years

In the 3-month period from 1 January to 31 March 2026, no corrections of errors from previous years were made.