mBank S.A.

Capital/Financing Update • Aug 23, 2022

With regard to the current reports no.40/2021 dated 15 September 2021 regarding closing of the subscriptionfor senior non-preferred bonds (NPS), the Management Board of mBank S.A.with its registered office in Warsaw ("Bank") informs as follows:1)The total costs, which are categorized as transaction related expenses,are divided into the following cost categories:a)costs of preparing and conducting the offer: PLN 8.42 mn,b)costs of remuneration of "subemitents" (guarantors - within the meaningof art. 4 sec. 3) (b) of the Polish Act dated 29 July 2005 on the publicoffering and conditions of introduction of the financial instrumentsinto the organized trading system and on public companies): notapplicable,c) costs ofpromotion: PLN 13.5k,d) costs ofprospectus preparation (update) including advisory costs: PLN 1.83 mnTotalcosts outlined above amounted to PLN 10.27 mn gross (VAT included).Methods of cost recognition in the Bank's financial statements: Costsrelated to the prospectus preparation (update) and the remaining costsincurred in relation to the bond offer have been in general included inthe profit and loss account at the time they were incurred. However (i)the cost of the EMTN Program rating, (ii) fees paid to the joint leadmanagers and (iii) the cost of comfort letter related to the prospectusupdate are recognized over a period of twelve months (point (i)) or thelifetime of the bonds issued (points ii-iii), respectively.2)The average cost of subscription per one subscribed bond: PLN 1.69k Itshould be noted that the above average cost does not include the cost ofpreparing the prospectus, because this item applies to all bond offerscarried out under the EMTN Program. If such a cost was included, theaverage cost of subscription per one subscribed bond would amount to PLN2.05k. All the costs referred to in sec. 1) and 2) were calculated bythe Bank with duty of care. All costs are given in gross value,including VAT.Legal basis:§16 Ordinance of the Minister of Finance of 29 March 2018 on current andperiodic information provided by the issuers of securities and onconditions under which information required by legal regulations of athird country may be recognized