Getin S A : The statement of the Management Board of Getin Holding in connection with the convening of the Extraordinary General Meeting of Shareholders

The mission of Getin Holding S.A. is to build shareholder value through strategic acquisitions, development and sale of market players operating in the broadly understood financial services industry. Challenges posed by the pandemic, increasing regulatory restrictions and uncertainty on international financial markets create unfavourable conditions for such activity, especially considering the risk and expected return on investment. Other key factors at play include the Company's difficult legal position and image-related issues, which significantly hinder the Company's operation in regulated markets.

As previously announced, the Company has for a long time been successfully implementing its strategic project of selling foreign assets. It has not only allowed us to meet our liabilities but has also contributed to significant accumulation of capital. In the opinion of the Management Board, in the current situation, the Company is planning no significant capital-intensive investments and faces no regulatory requirements which would require such significant own funds to be maintained. Therefore, the Management Board has decided to request the shareholders' consent to reduce the share capital, pay back PLN 189 million to the shareholders, and reallocate a significant part of the share capital to the Company's supplementary capital. A decision of the Extraordinary General Meeting to transfer funds to supplementary capital will allow Getin Holding to restore its capacity to pay out dividends. Although such part of the funds originating from the reduction of the share capital cannot be paid out to the shareholders, this will enable the payment of dividends in the future, after the completion of further investment projects, from supplementary capital built with the Company's earnings.

The planned payment to the shareholders and potential future dividend payments will be carried out in a fully transparent process which is proportionate and respects minority shareholders' rights. After the capital reduction and payment to the shareholders, Getin Holding will continue its operations on a smaller scale, focusing on portfolio investments.

The Management Board of Getin Holding SA