Current Report no. 18 (2014)

Completion of the subscription for series K shares under the Incentive Scheme

Given the completion of the subscription for ordinary bearer series K shares, Bank Zachodni WBK SA (the "Bank") hereby provides the information on the subscription.

The subscription for series K shares was made pursuant to Resolution No. 40 of the Annual General Shareholders' Meeting of 16 April 2014 re. increase in the Bank’s share capital by means of issue of the ordinary bearer series K shares, waiving in full the existing shareholders’ subscription rights to series K shares, amending the Bank’s Statutes, placing a request for registration and floating of series K shares on the regulated market maintained by the Warsaw Stock Exchange and dematerializing series K shares and powers for the Supervisory Board published in current report no. 11/2014.

1) date of the subscription commencement and completion
a. date of the subscription commencement: 18 April 2014
b. date of the subscription completion: 19 May 2014, inclusive;

2) date of allotment of shares: 21 May 2014;

3) number of shares offered for subscription: 305 543 (three hundred and five thousand, five hundred forty-three ) ordinary bearer series K shares;

4) reduction rate in individual tranches, when in at least one tranche the number of allocated securities was lower than the number of securities subscribed for: not applicable;

5) number of shares subscribed for: 305 543 (three hundred and five thousand, five hundred forty-three ) ordinary bearer series K shares;

6) number of shares allocated under the subscription: 305 543 (three hundred and five thousand five hundred forty-three ) ordinary bearer series K shares;

7) price at which the shares were taken up: PLN 10.00 (ten) per share;

8) number of persons who subscribed for shares under the subscription in individual tranches: 468 people (there was no division into tranches);

9) number of persons who subscribed for shares under the subscription in individual tranches: 468 people (there was no division into tranches);

10) name (company) of underwriters who acquired securities u par. 33 sec. nder underwriting agreements, specifying the number of securities they took up along with the actual price per share (issue or sale price, after deduction of the remuneration for taking up a single share acquired by the underwriter under the underwriting agreement): the Bank did not enter into an underwriting agreement.;

11) value of the subscription understood as a product of the number of shares covered by the offer and issue or sale price: PLN 3 055 430,00 (three million fifty five thousand four hundred thirty);

12) total amount of costs that were taken to the issue costs indicating the amount of the costs by type, at least with a break-down into the costs of:
a) preparing and conducting the offer: PLN 300,000.00; EUR 5,534.00;
b) remuneration for underwriters, separately for each one: not applicable, the issuer did not enter into an underwriting agreement;
c) drawing up the prospectus, including advisory fees: issuer did not prepare the prospectus; issuer prepared the information memorandum - the cost of preparing the memorandum were included in the costs referred to in point 12 point. a) of this Report,
d) offer promotion: no promotion fees;

- along with methods of settling/accounting for these costs in the accounting books and the way they are disclosed in the issuer’s financial statements – the above costs of issuance the shares K series were included in the profit and loss account of the Bank,

13) the average cost of conducting the subscription per one share covered by subscription – PLN 1,06 (in consideration of the remuneration in EUR according to the average EUR exchange rate of NBP on 29.05.2014).

Legal basis:
Finance Minister’s regulation of 19 February 2009 par. 33 sec. 1 on current and periodic information provided by issuers of securities and terms for recognizing information required by non-member state laws as equivalent.