Powszechny Zaklad Ubezpieczen : Appointment of PZU SA Management Board members

Date of preparation:	9 September 2020
Issuer's abbreviated name:	PZU SA
Current Report No. 32/2020
Subject:	Appointment of PZU SA Management Board members
Legal basis:	Article 56 Section 1 Item 2 of the Act on Offerings - current and
	periodic information

Body of the report:

The Management Board of Powszechny Zakład Ubezpieczeń Spółka Akcyjna ("PZU SA", "Company") hereby reports that on 9 September 2020, the Company's Supervisory Board adopted resolutions to appoint Małgorzata Kot and Krzysztof Szypuła to the PZU SA Management Board and entrust them with discharging the function of being PZU SA Management Board members.

These resolutions come into force at the time of their adoption.

Their appointment takes place on 10 September 2020 for a joint term of office spanning the three full financial years from 2020 to 2022.

CVs of the newly-appointed PZU SA Management Board members:

Małgorzata Kot

Graduate of the Nicholas Copernicus University in Toruń at the Faculty of Economic Sciences and Management. She completed her post-graduate studies at the Economic University in Poznań in the field of economic insurance and in the Warsaw School of Economics - Professional Coach Academy.

From 2001 to 2012 she held managerial positions in STU Ergo Hestia SA, PZU SA and HDI Asekuracja TU SA. Since 2012 she has been affiliated with TUiR Allianz Polska SA, where she served in the following functions: Director of the Department for Cooperation with Key Partners, Director of the Department for Cooperation with Multiagencies and Director of the Department for Cooperation with Key Partners and Bancassurance.

She has served in the capacity of a Management Board Member of PZU Życie SA since April 2020.

She has completed many courses in the field of underwriting property risks, client service and the Allianz Talent Development Program, including among others, Building Business Acumen, negotiations, 21st century leadership and TOP Manager.

According to the representation submitted by Małgorzata Kot, she does not conduct any business activity that would compete with the Company, nor does she participate in any competing business as a shareholder of a civil law company, partnership, corporation or as a member of a corporate body of any competing legal person and she is not entered in the Register of Insolvent Debtors maintained pursuant to the National Court Register Act of 20 August 1997.

Krzysztof Szypuła

He has worked in the financial services industry for 29 years. He worked for a long time for the Nationale-Nederlanden (ING) Group. He worked there from 1994 to 2010 in Poland, the United States

and Australia in a variety of positions whereby he gleaned extensive experience in actuarial matters, financial management, IT projects and operations. Before joining the PZU Group he worked for the

Polish Branch of Prudential plc from the United Kingdom where he was responsible for product

development and management and for Allianz Polska. In the management board of Allianz insurance

companies he was initially responsible for life and health products and later for sales management. He

has served in the capacity of Managing Director for Product Strategy in PZU since 2018.

Krzysztof Szypuła is a graduate of the University of Lodz with a specialization in econometrics and

statistics and of the Summer School of Actuarial Science at the University of Warsaw.

According to the representation submitted by Krzysztof Szypuła, he conducts no business competitive to that of the Company, he is not involved in any competitive business as a shareholder or partner of a civil law company or partnership or as a member of a corporate body of any competitive legal person and he is not entered in the Register of Insolvent Debtors maintained pursuant to the National Court Register Act of 20 August 1997.

Legal basis: § 5 Item 5 of the Finance Minister's Regulation of 29 March 2018 on Current and Periodic Information Transmitted by Securities Issuers and the Conditions for Recognizing the Information Required by the Regulations of a Non-Member State as Equivalent.