mBank S.A.

Legal Proceedings Report • Sep 13, 2019

Request of the Polish Financial Supervision Authority to express anopinion by the Financial Stability Committee regarding a change of theother systemically important institution buffer imposed on mBank S.A.

The Management Board of mBank S.A. ("Bank") informs that in the courseof administrative proceedings conducted by the Polish FinancialSupervision Authority (PFSA), on 12 September 2019, the Bank received aletter, in which the PFSA asks the Financial Stability Committee (FSC)to express its opinion regarding a change of the amount of the othersystemically important institution (O-SII) buffer imposed on the Bank.

Pursuant to the PFSA's decision of 31 July 2018, the Bank is currentlyrequired to maintain the O-SII buffer in the amount equivalent to 0.50%of the total risk exposure amount calculated in accordance with Art.art. 92 par. 3 of the Regulation of the European Parliament and of theCouncil (EU) No. 575/2013 of 26 June 2013 on prudential requirements forcredit institutions and investment firms, amending Regulation (EU) No.648/2012 ("CRR"), which the Bank reported in the current report 30/2018of 1 August 2018.

As part of the review of the adequacy of the O-SII buffer, carried outby the PFSA in accordance with art. 46 par. 1 of the Act of 5 August2015 on Macroprudential Supervision of the Financial System and CrisisManagement (Journal of Laws of 2019, item 483), the PFSA indicated thatthe assessment of systemic importance of the Bank is the basis to imposeon the Bank the O-SII buffer in the amount equivalent to 0.75% of thetotal risk exposure amount calculated in accordance with Art. art. 92par. 3 of CRR, instead of the current buffer of 0.50%.

A final decision will be taken by the PFSA after obtaining the FSC'sposition. The Bank will inform in a separate report about the completionof the proceedings and decision regarding the O-SII buffer.