Principles of amendments to the Company’s By-Laws

In accordance with Article 34 (2) of the Banking Law Act of 29 August 1997, an amendment to the bank’s By-laws requires the authorisation of the Polish Financial Supervision Authority if such amendment relates to:

• the bank’s registered business name;
• the bank’s registered office, objects and scope of the bank’s operation;
• the bodies and their powers, including particularly the powers of the Members of the Management Board appointed with the approval of the Polish Financial Supervision Authority and the decision-making principles, the general organisational structure of the bank, the procedures applicable to making legally binding statements regarding property rights and obligations, the procedures for issuing internal regulations and the procedure for making decisions on assuming obligations or manage assets whose total value with regard to a single entity exceeds 5% of the bank’s own funds;
• the principles of functioning of the internal control system;
• the own funds and the financial management principles;
• shares preferred or limited as to voting rights.