2.2 PZU Group entities, associates and joint ventures

1) Information about the acquisition of Link4 is presented in Note 2.4.6.2.

2) Information about the establishment of TUW PZUW is presented in Note 2.4.2.

3) Information about the acquisition of Lietuvos Draudimas AB is presented in Note 2.4.6.3.

4) Information about the sale of PZU Lithuania is presented in Note 2.4.1.

5) Information about the acquisition of Alior Banku SA along with its subsidiaries is presented in Note 2.4.6.1.

6) Share of PZU Group in Alior Bank’s share capital and voting rights at the General Shareholders’ Meeting determined on the basis of the number of shares held by PZU (I and II tranche of shares acquired under the transaction specified in Note 2.4.6.1), PZU Życie and consolidated investment funds. The figure does not include shares acquired by PZU under tranche III of the transaction described in Note 2.4.6.1.

7) Company directly controlled by Alior Bank where it holds 60.49%. The Management Board of PZU stated that PZU Group exercises control over the company.

8) Information about the acquisition of Rezo-Medica sp. z o.o., Centrum Medyczne Gamma sp. z o.o., Nasze-Zdrowie sp. z o.o. and Medicus w Opolu sp. z o.o. is presented in Note 2.4.6.5.

9) Information about the marger of companies within Armatura Group is presented in Note 2.4.5.

10) Information about the acquisition of Aquaform SA along with its subsidiaries is presented in Note 2.4.6.4.

11) As at 31 December 2015, the PZU FIZ Sektora Nieruchomości and PZU FIZ Sektora Nieruchorności 2 funds conducted investment operations through special purpose vehicles (included in the consolidation), whose number in particular funds amounted to: 24 and 11, respectively (31 December 2014: 39 and 13). A lower number of SPVs resulted from reorganization and simplification of operating structure, and not limiting operations itself.

12) Information about changing the involvement in EMC Instytut Medyczny SA is presented in Note 2.4.4.

13) % of voting rights held by PZU differs from the % of share capital and as at 31 December 2015 it amounted to 25.44% (25.41% as at 31 December 2014). The difference between the interest in voting rights and share capital results from the fact that non-controlling interest hold shares preferred as to voting rights.