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BOŚ S.A. Presentation Warsaw, June 2012

BOŚ S.A. Presentation Warsaw, June 2012. Bank Ochrony Środowiska S.A. (Bank for Environmental Protection) is a universal commercial bank supporting sustainable development specialising in financing environmentally friendly projects. established in 1991.

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BOŚ S.A. Presentation Warsaw, June 2012

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  1. BOŚ S.A. PresentationWarsaw, June 2012

  2. Bank Ochrony Środowiska S.A. (Bank for Environmental Protection) is a universal commercial bank supporting sustainable development specialising in financing environmentally friendly projects • established in 1991 • since 1997 listed at Warsaw Stock Exchange • 19th position in terms of balance sheet and equity among Polish banks

  3. Ownership structure and overview of principal activities Business overview Ownership structure as of June 2012 56.6% National Fund for Environmental Protection and Water Management Public Finance Corporate business Retail business 39.1% Others % of total loan portfolio 40% 28% 32% • Mortgage loans • Deposit and current accounts • Credit cards • Project finance • Investment loans • Factoring • Trade finance • Project finance • Financing of municipalities • Innovative brokerage house • Leading position in the market of forward contracts 4.3% State Forests National Forest Holding • Capital investments • Business consulting Our key focus across all three key business areas is environmentally friendly projects 68.2% of our shareholders are representatives of the State Treasury 3

  4. Organisational structure of BOŚ By the end of 2011, 17 main branches, 83 operative branches and 11 corporate Centres were active. In order to reach its clients in broader scope the Bank cooperated with financial intermediaries and partner advisors.

  5. Our strenght – proecological projects financing Unique capabilities in eco-finance projects • Undisputed leader on the eco-finance market (more than PLN10bn loans granted in 1991-2011; PLN37bn worth of investments co-financed); 50% market share in pro-ecological projects financing. • Unique in the scale of the country, activity of group of experts, specialised in ecological project financing, offering financial and legal consultation in the field of environmental protection investment to corporate and individual clients. Support of NFOŚ • Support of National Fund for Environmental Protection and Water Management (NFEP&WM) – assets related to the cooperation with NFOS and its local branches (VFEP&WM) amount to ca. PLN1bn (2011)¹ Environmental protection as the image of the Bank • Ecological image, supported by rich proecological offer for all the clients of the Bank. • Promotion of the corporate governance initiative, through support of BOŚ Foundation activity, monitoring and compensation of greenhouse gas emission, proecological reports publishing and ecological waste management. 1. Consolidated data

  6. Growth drivers for pro-ecological projects EU requirements and Poland’s commitments • CO2 emissions reduction by 20% by 2020 from 1990 levels • 19%1 share of renewable energy sources by 2020 (from c. 7% in 2010) • 9% reduction in the national energy consumption by 2016 compared to 2001-2005 average • Reduction of biodegradable waste disposed of at landfills by 70% by 2020 (from 1995 levels) • 60% packaging reuse and 55% recycling level targets for 2014 (currently 53% and 35% respectively) Increase ofdemand • Growth in demand for electricity and heat by 4.5% and 9% respectively in 2010-2015 • Increase in generated municipal waste volume by 18% in 2011-2022 Price increase • Renewable energy sources and cogeneration – alternatives to conventional energy sources Co-financing from national and foreign sources • EU support for pro-ecological initiatives – c. EUR18bn in 2011 - 2014 • National programmes – c. PLN4.5bn in 2010, may reach c. PLN38bn in 2011- 2014 • Ability to obtain and sell certificates, compulsory purchase of green certificates • Revolution on the municipal waste management market resulting from legal environment change Regulations Technology development • New eco-friendly technology solutions, increasing efficiency of pro-ecological projects Increase in eco-consciousness • Public support for pro-ecological initiatives • Popularisation of the concept of corporate social responsibility The main growth drivers are EU regulations and standards Source: Deloitte analysis; 1. According to the draft of Regulation of the Minister for the Economy PU\Warsaw\Bos\C20120377 6

  7. Estimated market size of pro-ecological projects Segment Estimated expenditure for 2011-2020 2010 2013 2015 2016 2020 Wastewater treatment and water protection 52 billion PLN Cogeneration 5 billion PLN 11 billion PLN Waste management 6 billion PLN 6 billion PLN Renewable energy sources 20 billion PLN 17 billion PLN Expected volume of BOŚ pro-ecological loans in 2011-2020 is PLN 8bn, of which PLN 3.5bn by 2015 Source: Deloitte analysis based on: GUS, Ochrona Środowiska 2010, Warszawa, 2010 r.; Krajowy plan gospodarki odpadami 2014, Warszawa, 2010 r.; Deloitte, Fortum, 4P Research Mix: Gospodarka odpadami w Polsce 2011, Warszawa, 2011 r.; Andrzej Reński: Perspektywy rozwoju skojarzonego wytwarzania ciepła i energii elektrycznej w Polsce, Rynek Energii, nr 6/2008; Instytut Energetyki Odnawialnej: Atrakcyjność inwestycji w energetyce odnawialnej do 2020 r., 2010 r.; Ministerstwo Gospodarki: Krajowy plan działania w zakresie energii ze źródeł odnawialnych, Warszawa 2010 r.,

  8. Our strength – other markets Knowledge and experience in financing public finance sector • Well-established relationship with customer – a significant market share in financing local governmental units and municipal companies (around 10% at the end of 2010)¹ • High position in a growing market of municipal bonds (5th place in 2011 among the agents in terms of  the number of programs – 79 programs with a value of 628mln PLN)² Recognised Brokerage House • Strong DM BOŚ position on the derivatives market (14.5% shares in 2011), NewConnect (3rd place and 11.3 % share in 2011)³ and IPO small and medium enterprises(during years 2009-2011 - 10 offers including 7 IPO) • Innovative and coherent offer for the customers, confirmed by high rankings positions – for 5 years among top three in the ranking SII4 and Forbes5; first place in 2011 • Cooperation with European financial institutions (EIB, CEB, KfW, NIB – the cooperation concentrates on raising funds, that can be used to finance investment projects (value of assets accuired through cooperation withforeign commercial banks amounted to 85.3mln EURi 37.5 mln CHF6). • Participation in the implementation of the JESSICA initiative – initiative resources: 371 mln PLN, - BOŚ S.A. resources: 575 mln PLN. Cooperation with European financial institutions Apart from financing of pro-environmental projects, the Group stands out with its experience in the public finance sector, recognised Brokerage House and longlasting cooperation with European financial institutions Sources: 1. BOŚ Group, 2. BOŚ, Rzeczpospolita; 3. GPW; 4. Individual Investors association 5. Brokerage Houses Ranking; 6. Financing resulting from contracts

  9. Our business has grown significantly over the recent years Total Assets Loans billion PLN billion PLN +100% +108% Total Deposits Loan Portfolio Composition by Currency billion PLN 11,5% EUR 72,6% PLN Source: BOS Bank’s IFRS financial statements 9

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