4.1 Composition of the parent company’s Management Board

From 1 January 2019, the PZU Management Board consisted of the following persons:

• Paweł Surówka – President of the PZU Management Board;
• Roger Hodgkiss – Member of the PZU Management Board;
• Tomasz Kulik – Member of the PZU Management Board;
• Maciej Rapkiewicz – Member of the PZU Management Board;
• Małgorzata Sadurska – Member of the PZU Management Board.

On 27 March 2019 the PZU Supervisory Board adopted a resolution to appoint Paweł Surówka to the PZU Management Board for the new term of office and entrusted him with discharging the function of CEO of PZU.

The appointment of Paweł Surówka was for the joint term of office commencing as of the date on which the PZU Supervisory Board resolution on his appointment was adopted and will span three full financial years from 2020-2022.

On 28 March 2019, the PZU Supervisory Board adopted resolutions to appoint the following persons to the PZU Management Board for its new term of office:

• Tomasz Kulik, entrusting him with discharging the function of PZU Management Board Member,
• Maciej Rapkiewicz, entrusting him with discharging the function of PZU Management Board Member,
• Małgorzata Sadurska, entrusting her with discharging the function of PZU Management Board Member,
• Marcin Eckert, entrusting him with discharging the function of PZU Management Board Member,
• Adam Brzozowski, entrusting him with discharging the function of PZU Management Board Member,
• Elżbieta Häuser-Schöneich, entrusting her with discharging the function of PZU Management Board Member.

In the case of Adam Brzozowski and Elżbieta Häuser-Schöneich, they were appointed as of 25 May 2019 for a joint term of office commencing at the time of appointing the CEO of PZU and spanning the three full financial years from 2020 to 2022.

The other persons were appointed on 28 March 2019 for a joint term of office commencing at the time of appointing the CEO of PZU and spanning the three full financial years from 2020 to 2022.

Roger Hodgkiss served in the capacity of PZU Management Board Member until the date of PZU’s Ordinary Shareholder Meeting under the principle of discharging his mandate according to Article 369 § 4 of the Commercial Company Code.

On 23 October 2019, the PZU Supervisory Board adopted a resolution to appoint Aleksandra Agatowska to the PZU Management Board and entrust her with discharging the function of a PZU SA Management Board Member starting 24 October 2019 for a joint term of office encompassing three full financial years 2020-2022.

On 19 February 2020, Aleksandra Agatowska tendered her resignation as a PZU Management Board Member, effective on the same date.

As at the date of signing the consolidated financial statements, the PZU Management Board consisted of the following persons:

• Paweł Surówka – President of the PZU Management Board;
• Adam Brzozowski – Member of the PZU Management Board;
• Marcin Eckert – Member of the PZU Management Board;
• Elżbieta Häuser-Schöneich – Member of the PZU Management Board;
• Tomasz Kulik – Member of the PZU Management Board;
• Maciej Rapkiewicz – Member of the PZU Management Board;
• Małgorzata Sadurska – Member of the PZU Management Board.