Bank BPH : Conditional resignation of the President of the Management Board of Bank BPH and some of the members of the Management Board of Bank BPH, and the conditional appointment of a new President of the Management Board of Bank BPH

Conditional resignation of the President of the Management Board of Bank BPH and some of the members of the Management Board of Bank BPH, and the conditional appointment of a new President of the Management Board of Bank BPH

16 August 2016

The Management Board of Bank BPH S.A. ('Bank BPH') hereby announces that on 16 August 2016 Richard Gaskin, the President of the Management Board of Bank BPH, resigned from his position as a member of the Management Board of Bank BPH subject to the following conditions and with effect upon the fulfilment of the last of such: (i) the registration in the Register of Business Entities of the increase of the share capital of Alior Bank S.A. as a result of the demerger of Bank BPH pursuant to Article 529 §1 point 4 and subsequent of the Commercial Companies Code (the 'Demerger'); and (ii) the Polish Financial Supervision Authority (the 'PFSA') granting its consent, pursuant to Article 22b of the Polish Banking Law dated 29 August 1997 ('Banking Law'), to the appointment of the new President of the Management Board of Bank BPH. Moreover, Richard Gaskin declared that notwithstanding the satisfaction of the conditions specified above by the date of the expiry of his mandate as the member of the Management Board of Bank BPH for the current term of office, i.e. no later than on the date of the approval by the Bank BPH general meeting of the financial statements of Bank BPH for the year ended 31 December 2016, he will not put forward his candidacy for the positon of a member of the Management Board of Bank BPH for a new term of office.

Additionally, on 16 August 2016 the following members of the Management Board of Bank BPH: Grażyna Utrata, Andras Bende, Mariusz Kostera, Mariusz Bondarczuk and Krzysztof Nowaczewski (each holding the positon of a Deputy President of the Management Board of Bank BPH), resigned from their positions as members of the Management Board of Bank BPH subject to the registration of the Demerger in the Register of Business Entities.

At the same time, in connection with the resignation of Richard Gaskin from his position of member of the Management Board of Bank BPH, the Supervisory Board of Bank BPH has appointed Grzegorz Jurczyk, the current Deputy President of the Management Board of Bank BPH, as the President of the Management Board of Bank BPH. The appointment is conditional on (and effective upon the satisfaction of the last of these conditions):

a) the PFSA granting its consent, pursuant to Article 22b of the Banking Law, to the appointment of Grzegorz Jurczyk as the President of the Management Board of Bank BPH; and

b) registration in the Register of Business Entities of the Demerger.

The biography of Grzegorz Jurczyk is available at the Bank BPH's website: www.bph.pl. Grzegorz Jurczyk does not perform any activities competitive to the Bank, as well as does not participate in competitive companies as partner of partnerships, personal or member of capital companies or other competing legal person. Grzegorz Jurczyk is not entered into the register of Insolvent Debtors maintained pursuant to the act of 20 August 1997 on the National Court Register.

Legal basis: § 5 clause 1 point 21 and 22 of the Finance Minister's Regulation of 19 February 2009 on current and periodic reports published by the issuers of securities and the rules of equal treatment of the information required by the laws of non-member states.