mBank S.A.

Board/Management Information • Jun 25, 2020

Dismissal of a member of the Management Board of mBank S.A.TheManagement Board of mBank S.A. (the Bank) announces that on 25 June2020, the Supervisory Board of the Bank adopted a resolution regardingdismissal of Mr. Frank Bock from the post of Vice-President of theManagement Board, Head of Financial Markets of mBank S.A.

The negative economic effects caused by the COVID19 pandemic require thebanking sector to adapt its strategy and take non-standard actions.

Termination of the contract of Mr. Frank Bock as of 31.12.2020 isassociated with the reorganization of the financial markets area withinother business areas of the Bank in order to increase efficiency oforganizational structure and processes, and its effect will be areduction in the number of positions on the Bank's Management Board byone. Until the end of the year Mr. Frank Bock will be involved in there-organization of the area.

The above constitutes the sole reason for termination of the contract bydismissing Mr. Frank Bock from the position of the Vice President of theManagement Board for Financial Markets mBank S.A. as of 31.12.2020.