Current Report No. 15/2021Re:Revision of outlook to "Stable" and affirmation of IDR ratings of BankHandlowy w Warszawie S.A. by Fitch RatingsLegalbasis:Art. 17 of the Regulation (EU) No596/2014 of the European Parliament and of the Council of 16 April 2014on market abuse (MAR).The Management Boardof Bank Handlowy w Warszawie S.A. ("the Bank") announces that on May 18,2021 Fitch Ratings agency ("Fitch") revised its outlook under the Bank'slong-term rating ("Long-term IDR") from "Negative" to "Stable". Theoutlook revision follows the revision of the outlook of Citigroup Inc. -a parent company of the Bank from "Negative" to "Stable".At the sametime, Fitch has affirmed the Bank's IDRs, National Ratings and SupportRating. The Bank's Viability Rating ("VR") is unaffected.

The full current rating of the Bank assigned by Fitchis as follows:

1)1)Long-term IDR: "A-"; ("OutlookStable");

2)2)Short-term IDR: "F1";

3)3)Viability rating: "a-"; ("RatingWatch Negative");

4)4)Support Rating:"1";

5)5)National Long-term Rating:"AA+(pol)"; ("Outlook Stable");

6)6)National Short-term Rating: "F1+(pol)".