Please read the following disclaimer carefully. By selecting the ‘NEXT’ option below, you confirm that you have read the disclaimer below, agree to the restrictions contained therein, and confirm that you are accessing this website and the documents and information contained therein from the territory of the Republic of Poland or in accordance with the laws of the local jurisdiction applicable to you that provide for such access.
The materials to which you will gain access relate to or are connected with: (i) public offerings (‘Public Offerings’) of bearer mortgage bonds in the territory of the Republic of Poland (‘Mortgage Bonds’) issued by PKO Bank Hipoteczny S.A. with its registered office in Warsaw (‘Company’) as part of the mortgage bond issue programme established by the Company, in which the total nominal value of Mortgage Bonds issued within a 12-month period will not exceed PLN 10,000,000,000 (‘Issue Programme’); and (ii) the intention to apply for admission and introduction of the Covered Bonds to trading (“Admission”) on the parallel regulated market within the Catalyst platform, operated by the Warsaw Stock Exchange.
The base prospectus prepared in connection with the Public Offerings and Admission (the “Prospectus”) was approved on 29 August 2025 by the Polish Financial Supervision Authority, which is the supervisory authority for the capital market in Poland. The Covered Bonds will be issued in series and offered on the terms and conditions described in the Prospectus and the Final Terms, which will include the final terms of the offer for a given series and the final terms of issue for a given series. Detailed information on the number of Covered Bonds issued and offered within a given series and the opening and closing dates of the subscription will be included in the Final Terms.
The Prospectus, together with any supplements and updates, has been published and is available on the Company's website (www.pkobh.pl) and, for information purposes only, on the website of Powszechna Kasa Oszczędności Bank Polski S.A. Branch – Brokerage Office in Warsaw, as an Investment Firm (www.bm.pkobp.pl). The Prospectus is valid for a maximum of 12 months from the date of its approval by the Polish Financial Supervision Authority.
The Prospectus does not contain all the information necessary to make an investment decision, as the final terms of the issue and the final terms of the Covered Bonds offering will only be determined in the relevant Final Terms and are not known at the time of publication of the Prospectus. No investment decision should be made before carefully reviewing the entire Prospectus, including the documents incorporated by reference into the Prospectus, and in particular the risks associated with investing in Covered Bonds, described in the section of the Prospectus entitled ‘Risk Factors’, any possible supplements and updates to the Prospectus, and the Final Terms relating to the relevant issues of Covered Bonds.
Public offerings will be conducted only within the territory of the Republic of Poland. The information contained on this website is not intended for publication or distribution outside the Republic of Poland. Outside the Republic of Poland, the Prospectus may not be treated as a proposal or offer to purchase Covered Bonds. The Prospectus and the Covered Bonds covered by it have not been registered, approved or notified in any country outside the Republic of Poland, in particular in accordance with the provisions of Regulation (EU) 2017/ 1129 of 14 June 2017 on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market, and repealing Directive 2003/71/EC, or the provisions of law governing the offering of securities in force in the United States of America. The Covered Bonds covered by the Prospectus may not be offered outside the Republic of Poland (including in other European Union countries and the United States of America). Neither the Company nor any other entity acting on its behalf or for its benefit has taken or will take in the future any action that could be considered a public offering of the Covered Bonds covered by the Prospectus in any country outside the Republic of Poland.
Neither the Prospectus nor the Final Terms constitute an offer to sell or purchase securities in the United States of America, Canada, Japan, Australia, the United Kingdom or any other jurisdiction where such offer would constitute a violation of applicable law or require registration, notification or authorisation.
The laws of certain countries outside the Republic of Poland may restrict the dissemination of information contained on these web pages. Any Investor residing or having its registered office outside the Republic of Poland should familiarise themselves with the provisions of Polish law and the laws of other countries that may apply to them.
Public Offerings are not directed at Russian or Belarusian citizens or natural persons residing in Russia or Belarus, or at any legal persons or other organisational units with their registered office in Russia or Belarus, or at other entities subject to restrictions on offering under national or EU regulations.
Please be advised that the materials and information you access and use: (i) are subject to the terms and conditions described above; (ii) are intended for persons or entities located in and accessing this website from Poland; (iii) are not directed at U.S. persons within the meaning of Regulation S, which is an implementing regulation of the U.S. Securities Act of 1933 (U.S. Securities Act of 1933) or to persons who represent or act on behalf of such a person; and (iv) are not directed at persons or entities located in the United States.
Please note that viewing and accessing these materials in violation of the above conditions may constitute a violation of securities laws, in particular in Poland and the United States of America.
All capitalised terms not defined above have the meanings given to them in the Prospectus.
