Current Report no. 4 (2014)

The proposal regarding dividend

Bank Zachodni WBK S.A. (the "Bank") hereby informs that the Bank's Management Board tabled the following proposal that has been approved by the Supervisory Board:

• to allocate PLN 1 000 932 452,30 from the Bank's net profit for 2013 to dividend for shareholders which means that the proposed dividend per share will be PLN 10,70.
• to set the dividend registration date for 2nd May 2014, while the dividend pay-out date for 16th May 2014.

The Management Board and the Supervisory Board will submit the above proposal along with the recommendation to the Annual General Meeting of Bank.

Bank's Management Board recommendation regarding proposed dividend payment.
Following recently issued proposal to pay out dividend from 2013 profits of the Bank in the amount of PLN 10.70 per share or ca. 62% of profits after tax of the Bank and ca. 50% of the BZWBK Group net profit attributable to owners of the Bank. The Management Board would like to present following arguments, supporting this proposal.

The financial position of the Group is sound as evidenced by the following ratios:

• Solvency ratio of the Group 13.92%
• Solvency ratio of the Bank 15.22%
• Tier I ratio of the Group 11.41%
• Tier I ratio of then Bank 12.63%

All the above ratios were calculated already under the assumption of the proposed dividend payment.

The Management Boards considers that:

• level of retained profits is sufficient to conduct the strategy of the Bank/Group and provides adequate balance between efficient capital utilisation and growth.
• accumulated capital base reflects prudent approach to acceptable risk level associated to current and future Bank business and ensuring safeness of placed deposits.
• guidelines issued in December 2013 re dividend payment by Polish Financial Supervision Authority (PFSA) are fully satisfied.

Legal basis:
§ 38 sec. 1 it. 11 of the Finance Minister's Ordinance of 19 February 2009 re. current and periodic reports published by the issuers of securities and the rules of equal treatment of the information required under the laws of non-member states.