mBank S.A.

M&A Activity • Sep 20, 2019

Ad-hoc release of Commerzbank S.A. of 20.09.2019 regarding, amongothers, the contemplated sale of shares in mBank S.A.

The management board of mBank S.A., with its seat in Warsaw (the"Company"), hereby discloses that on 20 September 2019 at 3:02 p.m.Commerzbank AG, with its seat in Frankfurt am Main ("Commerzbank"),which holds approximately 69.33% of the shares in the share capital ofthe Company (which corresponds to the same percentage in the totalnumber of votes in the Company), published an ad-hoc release (the"Release"). In the Release, Commerzbank describes the ongoing work onits draft "Commerzbank 5.0" business strategy. The draft of the strategyforesees, among other things, the disposal of Commerzbank's majoritystake in the Company. The contemplated sale of shares in the Companywould be subject to regulatory approvals. Commerzbank reports that thedraft of the strategy has not yet been adopted by the management boardor the supervisory board of Commerzbank.

The full Release is available on the corporate website of Commerzbank atthe following address:https://www.commerzbank.de/en/hauptnavigation/aktionaere/service/archive/ir-nachrichten_1/2019_1/ir_nachrichten_detail_19_83402.html