Powszechny Zakład Ubezpieczeń (PZU) Status Update summary

Leadership and governance updates

• Andrzej Klesyk, acting CEO, emphasized openness, compliance, and strong corporate governance as immediate priorities.

• Recent additions to the supervisory board include experienced professionals with backgrounds in economics and previous board roles.

• Dismissals and resignations in the management board were attributed to differences in standards and vision.

• A new, transparent corporate governance document will be created and made public after board approval.

Strategic focus and short-term actions

• No major changes to the overall strategy are planned, but some elements will be clarified, especially regarding banks, capital management, and dividend policy.

• A review of corporate governance and remuneration systems across all group companies is underway.

• The management board aims to provide more precise information on the role of banks, capital allocation, and long-term value creation.

• Strategy refinements and further details will be presented at the end of March.

Dividend policy and capital management

• The current dividend policy, targeting at least PLN 4.5 per share by 2027, remains in place, with no drastic changes expected.

• Capital and balance sheet management are under review to identify opportunities for value creation and investment.

• Dividend policy will be revisited only after capital management options are fully considered.