Current Report no. 3 (2016)

Estimated impact of the Act on Tax on Certain Financial Institutions on BZWBK’s results in 2016

In connection with the Act on Tax on Certain Financial Institutions of 15 January 2016 (Journal of Laws item 68) that is to become effective on 1 February 2016 (the “Act"), Bank Zachodni WBK S.A. (the “Bank”) hereby advises that according to preliminary estimations the tax will result in the Bank’s profit-after-tax for 2016 being decreased by approx. PLN 405m (four hundred and five million zlotys). At the same time, the Bank notes that the estimated impact may change as it is based on certain factors that affect its certainty, namely: fluctuations of the items that affect the basis of calculation of the tax; the need for further interpretation of individual provisions of the Act; the opinion of the financial regulator regarding the items that affect the taxation basis; potential ratification of other laws and the Bank's future decisions, all of which may have an impact on the estimated tax figure and are not yet known at the time of publication of this report.

Legal basis:
Article 56 sec. 1 item 1 of the Act dated 29 July 2005 on Public Offering, the Conditions Governing the Introduction of Financial Instruments to Organized Trading, and Public Companies.