The Articles of Association of BRE Bank (§ 25) says that theManagement Board shall be composed of at least three members appointed for the joint term of 5 years. At least a half of Management Board members, including the President of the Management Board, shall be Polish citizens. The Management Board shall be composed of the President and other members of the Management Board. The Supervisory board may appoint Management Board members with as first Vice-president or Vice-president of the Management Board.

The present Management Board of BRE Bank is composed of 7 members whose term expires as of the General Shareholders Meeting date in 2013.

Pursuant to the Articles of Association of BRE Bank (§ 17), the Supervisory Board shall be composed of at least five members appointed by the Shareholders for the joint term of three years. At least a half of Supervisory Board members, including the Chairman, shall be Polish citizens. The number of Supervisory Board members shall be defined by the Shareholders at the General Meeting (…). The Supervisory Board shall appoint Chairman and deputy Chairmen of the Supervisory Board.

At present, the Supervisory Board of BRE Bank is composed of 10 members (including 4 independent members). The Supervisory Board’s term expires as of the Shareholders Meeting date in 2014.