# EDGAR Filing Document

**Accession Number:** 0000079312
**File Stem:** 0001104659-26-036209
**Filing Date:** 2026-3
**Character Count:** 14278
**Document Hash:** 34fe253ae1e0d260df946dc090714472
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-26-036209.hdr.sgml**: 20260327

**ACCESSION NUMBER**: 0001104659-26-036209

**CONFORMED SUBMISSION TYPE**: S-B/A

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20260327

**DATE AS OF CHANGE**: 20260327

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** POLAND REPUBLIC OF
- **CENTRAL INDEX KEY:** 0000079312
- **ORGANIZATION NAME:** International Corp Fin
- **EIN:** 000000000
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** S-B/A
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-292814
- **FILM NUMBER:** 26808348

**BUSINESS ADDRESS:**
- **STREET 1:** 233 MADISON AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10016
- **BUSINESS PHONE:** 48 22 694 5000

**MAIL ADDRESS:**
- **STREET 1:** MINISTRY OF FINANCE
- **STREET 2:** UL. SWIETOKRZYSKA 12
- **CITY:** WARSAW POLAND
- **STATE:** R9
- **ZIP:** 00916

**As filed with the Securities and Exchange Commission on March 27, 2026**

**Registration No. 333-292814**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**Amendment No. 2**

**to**

**REGISTRATION STATEMENT**

**Under Schedule B**

**of the Securities Act of 1933**

**The State Treasury of the Republic of Poland**

(Name of Registrant)

**Consul General of the Republic of Poland 233 Madison Avenue**

**New York, NY 10016**

(Name and address of authorized agent in the United States)

It is requested that copies of notices and communications from the Securities and Exchange Commission be sent to:

**Melissa Butler, Esq. Doron Loewinger, Esq. White & Case LLP 5 Old Broad Street London EC2N 1DW United Kingdom**

**Approximate date of commencement of proposed sale to the public:** From time to time after the effective date of this Registration Statement.

The securities covered by this Registration Statement are to be offered on a delayed or continuous basis pursuant to Releases Nos. 33-6240 and 33-6424 under the Securities Act of 1933.

**CALCULATION OF REGISTRATION FEE**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Title of each class of <br> securities to be**<br> **registered** | **Amount to be <br> registered** | **Proposed maximum <br> offering price <br> per unit** | **Proposed maximum<br> aggregate offering<br> price** | **Amount of <br> registration fee** |
| Debt Securities | U.S.$10,000,000,000 | 100% | U.S.$10,000,000,000 | U.S.$1,381,000 |

---

(1) Estimated solely for purposes of determining the registration
 fee in accordance with Rule 457(o) of the Securities Act of 1933.

(2) Pursuant to Rule 457(p) under the Securities Act of 1933,
 filing fees of U.S.$711,060 have already been paid with respect to unsold securities registered
 pursuant to the Registration Statement under Schedule B of the Securities Act of 1933 filed by the
 State Treasury of the Republic of Poland on February 28, 2024 (333-277447) and are being carried
 forward. The filing fee of U.S.$1,381,000 due for this Registration Statement is partially offset
 against the registration fees previously paid. The remaining portion of the filing fees associated
 with this registration statement in the amount of U.S.$669,940 have been paid.

**The registrant hereby amends this Registration Statement on such date or dates as may be necessary to delay its effective date until the registrant shall file a further amendment which specifically states that this Registration Statement shall thereafter become effective in accordance with Section 8(a) of the Securities Act of 1933 or until this Registration Statement shall become effective on such date as the Commission, acting pursuant to said Section 8(a), may determine.**

**EXPLANATORY NOTE**

This Amendment No. 2 to the Registration Statement under Schedule B of the Securities Act of 1933, as amended, (File No. 333-292814) is filed solely to refile a corrected version of Exhibit E-2 thereto. This Amendment No. 2 does not modify any provision of the prospectus contained in the Registration Statement. Accordingly, this Amendment No. 2 consists only of this explanatory note and Part II, including the signature page and the exhibit index, and the corrected version of Exhibit E-2, and is not intended to amend or delete any other part of the Registration Statement.

**PART II**

(As required by Items (11) and (14) of Schedule B of the Securities Act of 1933)

**I.** An itemized statement showing estimated expenses
 of the State Treasury, other than underwriting discounts and commissions, in connection with
 the offering and sale of a particular issue of securities will be provided in the post-effective
 amendment to the Registration Statement relating to such issue or in a report filed under
 the Securities Exchange Act of 1934 that is incorporated by reference in this Registration
 Statement.

**II.** The issuer hereby agrees to furnish a copy of the opinion
 of the Director of the Legal Department of the Ministry of Finance, Republic of Poland, as
 to the legality of each issue of the securities in post-effective amendments to this Registration
 Statement or in a report filed under the Securities Exchange Act of 1934 that is incorporated
 by reference in this Registration Statement, in each case together with a translation, where
 necessary, into the English language.

**UNDERTAKINGS**

The State Treasury hereby undertakes:

(1) To file, during any period
 in which offers or sales are being made, a post-effective amendment to this Registration
 Statement:

&nbsp;&nbsp;&nbsp;&nbsp;(i) to include any prospectus
 required by section 10(a)(3) of the Securities Act of 1933; and

&nbsp;&nbsp;&nbsp;&nbsp;(ii) to reflect in the
 prospectus any facts or events arising after the effective date of this Registration Statement
 (or the most recent post-effective amendment thereof) which, individually or in the aggregate,
 represent a fundamental change in the information set forth in this Registration Statement;
 and

&nbsp;&nbsp;&nbsp;&nbsp;(iii) to include any material
 information with respect to the plan of distribution not previously disclosed in this Registration
 Statement or any material change to such information in this Registration Statement;

provided, *however*, that the State Treasury shall not be required to file a post-effective amendment otherwise required by clause (i) or clause (ii) above if the information required to be included in a post- effective amendment is contained in any report filed under the Securities Exchange Act of 1934 that is incorporated by reference in this Registration Statement.

(2) That, for the purpose
 of determining any liability under the Securities Act of 1933, each such post- effective
 amendment that contains a form of prospectus shall be deemed to be a new registration statement
 relating to the securities offered therein and the offering of such securities at that time
 shall be deemed to be the initial *bona fide* offering thereof.

(3) To remove from registration by means of a post-effective amendment any of the securities being
 registered which remain unsold at the termination of the offering.

(4) That, for purposes of
 determining any liability under the Securities Act of 1933, the information omitted from
 the form of prospectus filed as part of this Registration Statement in reliance upon Rule 430A
 and contained in a form of prospectus filed by the Registrant pursuant to Rule 424(b)(1) or
 (4) or 497(h) under the Securities Act of 1933 shall be deemed to be part of this
 registration statement as of the time it was declared effective.

**CONTENTS OF REGISTRATION STATEMENT**

This Registration Statement consists of:

(1) Facing Sheet;

(12) Cross Reference Sheet;

(3) Part I, consisting of
 the Prospectus;

(4) Part II, consisting of
 pages numbered II-1 through II-4; and

(5) The following exhibits:

---

| | |
|:---|:---|
| (A) | Form of Fiscal Agency Agreement\* |
| (B) | Form of Note (attached to the form of Fiscal Agency Agreement under A above)\* |
| (C) | Form of Underwriting Agreement\* |
| (D) | Legal Opinion of the Director of the Legal Department of the Ministry of Finance of the Republic of Poland as to the legality of the Securities\* |
| (E-1) | Opinion of White & Case LLP, U.S. counsel to the Republic of Poland as to the legality of the Securities\* |
| [(E-2)](tm262761d6_ex99-e2.htm) | [Opinion White & Case M. Studniarek i Wspólnicy— Kancelaria Prawna Spółka Komandytowa, Polish counsel to the Republic of Poland as to the legality of the Securities](tm262761d6_ex99-e2.htm) |
| (F) | The consent of the Director of the Legal Department, Ministry of Finance, Republic of Poland (included in (D))\* |
| (G) | The consents of White & Case LLP\* and [White & Case M. Studniarek i Wspólnicy—Kancelaria Prawna Spółka Komandytowa](tm262761d6_ex99-e2.htm) (included in (E-1) and (E-2)) |
| (H) | The consent of the Republic of Poland (included on page II-4) |

---

\* Previously filed

**EXHIBIT INDEX**

---

| | |
|:---|:---|
| **Exhibit <br> Number** | **Description** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. | Form of Fiscal Agency Agreement\* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. | Form of Note (attached to the form of Fiscal Agency Agreement under A above)\* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. | Form of Underwriting Agreement\* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D. | Legal Opinion of the Director of the Legal Department of the Ministry of Finance of the Republic of Poland\* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;E-1. | Opinion of White & Case LLP, U.S. counsel to the Republic of Poland as to the legality of the Securities\* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[E-2.](tm262761d6_ex99-e2.htm) | [Opinion White & Case M. Studniarek i Wspólnicy— Kancelaria Prawna Spółka Komandytowa, Polish counsel to the Republic of Poland as to the legality of the Securities](tm262761d6_ex99-e2.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;F. | The consent of the Director of the Legal Department, Ministry of Finance, Republic of Poland (included in (D))\* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;G. | The consents of White & Case LLP\* and [White & Case M. Studniarek i Wspólnicy—Kancelaria Prawna Spółka Komandytowa](tm262761d6_ex99-e2.htm) (included in (E-1) and (E-2)) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;H. | The consent of the Republic of Poland (included on page II-4) |

---

\* Previously filed

**SIGNATURES**

Pursuant to the requirements of the Securities Act of 1933, the Registrant has duly caused this Registration Statement to be signed on its behalf by the undersigned, duly authorized, in Warsaw, Poland, on March 27, 2026.

---

| | | |
|:---|:---|:---|
| **THE STATE TREASURY OF THE REPUBLIC OF POLAND,** | **THE STATE TREASURY OF THE REPUBLIC OF POLAND,** | **THE STATE TREASURY OF THE REPUBLIC OF POLAND,** |
| represented by the Minister of Finance and Economy | represented by the Minister of Finance and Economy | represented by the Minister of Finance and Economy |
| Acting on behalf of the Minister of Finance and Economy | Acting on behalf of the Minister of Finance and Economy | Acting on behalf of the Minister of Finance and Economy |
| By: | /s/ Jurand Drop | /s/ Jurand Drop |
|  | Name: | JURAND DROP |
|  | Title: | UNDERSECRETARY OF STATE |

---

(1) Consent is hereby given
 to the use of his name in connection with the information specified in this Registration
 Statement to have been supplied by him and stated on his authority.

## Ex-99.E-2

**EXHIBIT E-2**

**The State Treasury of the Republic of Poland**

**Ministry of Finance**

**ul. Świętokrzyska 12**

**00-916 Warsaw**

**Poland**

March 19, 2026

Ladies and Gentlemen,

We have acted as Polish counsel to the State Treasury of the Republic of Poland (the "**State Treasury**") in connection with the preparation of the Registration Statement under Schedule B filed with the United States Securities and Exchange Commission on even date herewith (the "**Registration Statement**"), pursuant to which the State Treasury proposed from time to time to issue and sell its debt securities as described therein (the "**Securities**"). Terms used herein and defined in the Registration Statement are used herein as so defined.

In order to give the opinion hereinafter set forth, we have examined the following:

(a) the Public Finance Law of August 27, 2009, as amended;

(b) the Budget Act for 2026 of January 9, 2026;

(c) the Order of the Minister of Finance of December 15, 2010, on the conditions of issuing treasury bonds to be offered on foreign markets, as amended;

(d) the Personal Income Tax Act of July 26, 1991, as amended; and

(e) the Corporate Income Tax Act of February 15, 1992, as amended,

and such other laws as was deemed necessary for such purpose.

As to certain facts material to our opinion, we have relied to the extent that we deemed such reliance proper upon statements of representatives of the State Treasury.

Based upon the foregoing and subject to the assumptions set forth herein, we are of the opinion that, upon the execution by the Minister of Finance of the letter of issue, with respect to particular Securities, when duly authorized, executed and delivered by the State Treasury, represented by the Minister of Finance, authenticated in accordance with the provisions of a duly executed Fiscal Agency Agreement and delivered to, and paid for by, the relevant underwriters or purchasers thereof in the manner contemplated by the Registration Statement and the relevant Underwriting Agreement, the Securities will be valid and legally binding obligations of the State Treasury under the laws of Poland.

This opinion is limited to the laws of the Republic of Poland and does not cover any questions arising under or relating to the laws of United States or the laws of the State of New York, any political subdivision thereof or any other jurisdiction.

**\* \* \***

We hereby consent to the filing of this opinion as an exhibit to the Registration Statement and to the use of our name under the caption "Validity of the Securities" in the Registration Statement. In giving such consent we do not thereby admit that we are in the category of persons whose consent is required under Section 7 of the Securities Act of 1933, as amended.

Very truly yours,

/s/ White & Case LLP