Unknown Executive

Good afternoon. Welcome to the press conference dedicated to the discussion on the financial results for Q1 2026. And we are going to have this meeting moderated by CEO, Bogdan Benczak, as well as Maciej Fedyna, our CFO.

Mr. Benczak over to you.

Bogdan Benczak
President of the Management Board

Good afternoon. Welcome to the Financial Results Conference following Quarter 1 2026 of PZU Group. It is my pleasure that I'm going to co-moderate this conference for the first time together with that Maciej Fedyna responsible for finance and risk arena at PZU Group.

Well, let us begin, shall we. First quarter 2026 PZU Group well, we consider it a very solid opening in the current year. As far as the market situation goes with respect to our organization, well, it has been less favorable as it was a year before. What are the factors behind? Firstly, volatility on international markets. Secondly, the fact that this year's winter season is indeed very wintery, unlike what we had in the past years. However, we are proud of the fact that we have generated record sales equivalent to PLN 7.8 billion highest result ever at the first quarter. Simultaneously, we managed to have PLN 1.4 billion in terms of net profit.

This comes as the aftermath of a very conscious risk management and a diversified risk handling scheme. Maciej will elaborate on various factors, that had a lot to do with this result following Q1. But as said, Q1 has been concluded, I think very stable position. Solvency II ratio 239%. Yesterday, the Supervisory Board recommended to pay on the dividend