Highlights and Summary of Performance

Developing the offer for customers

We increased our commercial activities, actively supported our clients in maintaining financial liquidity, and continued to digitize and automate processes by implementing advanced digital solutions. We have also expanded our product offer, responding to the needs of both individual and business customers. We opened 497.5 thousand Kont Przekorzystnych and Świat Premium Accounts, including 172.5 thousand for clients up to 26 years of age, which constitutes 35% of accounts. The number of active mobile banking customers increased by 294 thousand to 3.7 million, i.e. +9% more than a year ago and +19% more than two years ago. We have extended a special offer for individual and corporate customers from Ukraine.

* the 2024 results include the costs of credit holidays in the amount of PLN 153 million.
** excluding the cost of consumer protection provisions.

Operating expenses in 2025 amounted to PLN 5,530 million and were higher by PLN 286 million, i.e. 5.5% compared to 2024, supporting business development, with the costs of salaries and other employee benefits lower by 1.5% y/y, thanks to the launch of the voluntary redundancy program at the end of 2024.

Net allowances for expected credit losses in 2025 amounted to PLN 760 million and was lower by PLN 123 million, i.e. 13.9% than in 2024.

Contributions to the Bank Guarantee Fund in 2025 amounted to PLN 384 million and were higher by PLN 145 million, i.e. 60.7% than in 2024 due to the restoration of contributions to the Bank Guarantee Fund, which had not been collected for the last two years, and an increase in the volume of guaranteed funds.

The tax on certain financial institutions in 2025 amounted to PLN 861 million and was lower by PLN 37 million, i.e. 4.1% than in 2024.

As at the end of December 2025, loans and advances at nominal value amounted to PLN 202,214 million and were higher by PLN 15,707 million, i.e. 8.4%, than at the end of December 2024.

At the end of December 2025, the volume of retail loans amounted to PLN 88,005 million and were higher by PLN 4,237 million, i.e. 5.1% than at the end of December 2024, thanks to the sale of cash loans higher by 17.3% y/y, which allowed for an increase in volumes by 13.1% y/y and sales of mortgage loans at the level of PLN 10,8 billion, which allowed for an increase in volumes by 3.6% y/y.

At the end of December 2025, corporate loans, including non-Treasury debt securities, amounted to PLN 114,209 million and were higher by PLN 11,470 million, i.e. 11.2%, compared to the end of December 2024, mainly due to a strong increase in corporate loans in the MID and SME segments by 13.1% y/y and loans to large enterprises by 11.4% y/y, with the acquisition of over 3.8 thousand new customers and an enriched product offer.

As at the end of December 2025, liabilities to the Group’s customers amounted to PLN 268,463 million and were higher by PLN 9,429 million, i.e. 3.6%, than at the end of December 2024.

As at the end of December 2025, retail and other amounted to PLN 155,098 million and were higher by PLN 5,388 million, i.e. 3.6%, compared to the end of December 2024.

As at the end of December 2025, corporate and other amounted to PLN 113,365 million and were higher by PLN 4,041 million, i.e. 3.7%, compared to the end of December 2024.

As at the end of December 2025, the net assets of investment funds managed by Pekao TFI S.A. amounted to PLN 41,224 million and were higher by PLN 9,035 million, i.e. 28.1% compared to the end of December 2024, thanks to both higher valuation and high net sales of investment funds in 2025 at the level of PLN 5.6 billion.