REG - Bank Pekao SA - Termination of Global Depositary Receipt Program

Bank Polska Kasa Opieki SAAnnouncement

22/12/2021 07:01

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RNS Number : 4151W  Bank Pekao S.A.  21 December 2021

UNOFFICIAL TRANSLATION

21.12.2021 - Report 35/2021: Termination of the Global Depositary Receipt
Program

Bank Polska Kasa Opieki Spółka Akcyjna ("Bank") informs that on 21 December
2021, the Bank directed to The Bank of New York Mellon, the entity acting as a
depositary ("Depositary") under the program ("Program") of Bank's global
depositary receipts ("GDRs") issued under Rule 144A of the US Securities Act
of 1933 and Regulation S of the US Securities Act of 1933 ("Depository
Receipts") order to terminate the Program as of 31 March 2022. The bank
decided to terminate the Program due to insignificant liquidity and a
significant decrease in the number of GDRs.

Following the Program termination date, the owners of the GDRs will be
entitled to receive the Bank's shares from the Depository in a number
corresponding to all the GDRs owned by a given investor.

Following the Program termination date, the Depositary will no longer register
any transaction concerning the GDRs. Similarly, it will not transfer any
dividends paid by the Bank, if any, to the GDR owners. Any potential dividend
will be transferred to investors along with the Bank's shares issued in return
for the GDRs.

Following the expiry of one year after the termination date of the Program,
the Depositary will be entitled to sell the shares represented by the GDRs
which will not have been converted into the Bank's shares. Owners of such GDRs
will be entitled to receive the proceeds obtained by the Depositary from the
sale of such Bank's shares.

Detailed information regarding the process of converting the GDRs into the
Bank's shares and the rights of the owners of GDRs in connection with the
termination of the Program will be provided by the Depositary to the owners of
GDRs.

In connection with the termination of the Program, the Bank will take actions
in order to terminate by the end of March 2022: the listing of the GDRs on the
Official List of the Financial Conduct Authority, the admission of the GDRs to
trading on London Stock Exchange plc ("the London Stock Exchange"), quotation
of the GDRs on the Stock Exchange Automated Quotation System of the London
Stock Exchange and trading on the PORTAL market operated by NASDAQ.

Legal basis: § 18 item 2 of the Minister of Finance Regulation of 29 March
2018 on the information provided by issuers of securities on an on-going basis
and periodically as well as on the terms and conditions of finding the
information required by the laws of non-member states as equivalent

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