mBank S.A.

Earnings Release • Mar 16, 2020

Recommendation of the Supervisory Board regarding division of the 2019profit

With reference to current reports No. 10 and No. 11 of March 10, 2020,the Management Board of mBank S.A. ("Bank") informs that the SupervisoryBoard, by Resolution No. 229/20 of March 16, 2020, gave a positiveopinion on the Management Board's motion regarding division of the 2019profit in the amount of PLN 980 979 554.44 in the following manner:

- allocating the amount of PLN 48 702 922.05 to the dividend forshareholders of the Bank, and the amount of dividend per one share shallamount to PLN 1.15.

- leaving undivided the remaining part of the profit in the amount ofPLN 932 276 632.39.

Pursuant to the Management Board's motion, the Supervisory Boardapproved and recommends to the Ordinary General Meeting of Shareholdersto set the dividend day for May 14, 2020 (dividend day) and the dividendpayment date for May 28, 2020 (the dividend payment date).

In connection with the above, the Supervisory Board recommends theXXXIII Ordinary General Meeting of Shareholders to adopt the ResolutionNo. 3 regarding division of the 2019 net profit in accordance within thewording indicated in the draft presented in the current report No. 11 ofMarch 10, 2020.