Warsaw, February 28, 2022

Current Report No. 5/2022

Subject:Individual recommendation of the Polish Financial Supervision Authorityregarding the fulfilment of the criteria for the payment of dividendsfrom the net profit generated in 2021_#160;

Legal basis:Article17 (1) of Regulation (EU) No 596/2014 of the European Parliament and ofthe Council of 16 April 2014 on market abuse (MAR).

The Management Board of BankHandlowy w Warszawie S.A. (_quot;Bank_quot;) hereby informs that on February 25,2022 it received a letter from the Polish Financial SupervisionAuthority (_quot;PFSA_quot;) with a dividend recommendation for the Bank.

As at December 31, 2021, in termsof the basic criteria on the dividend policy of commercial banks for2022 , the Bank met the requirements qualifying for the payment of up to100% of the dividend from the Bank's profit generated in the period fromJanuary 1, 2021 to December 31, 2021.

Simultaneously, the Bank does nothave more than 5% of foreign currency housing loans for households inits portfolio of receivables from the non-financial sector, therefore itis not necessary to adjust the dividend rate by the criteria resultingfrom this factor.

In addition, the PFSA recommendedthe Bank not to take other actions, in particular those outside thescope of current business and operating activities, which could resultin a reduction of the own funds, including possible dividend paymentsfrom undistributed profit from previous years and share buybacks,without previous consultation with supervisory authority.