mBank S.A.

Capital/Financing Update • Dec 15, 2016

Decision of Polish Financial Supervision Authority concerning anadditional capital requirement related to FX mortgage loan portfolio formBank S.A. at consolidated level

With reference to the current report No. 88/2016 dated 21 October 2016the Management Board of mBank S.A. ("Bank") informs that it received on15 December 2016 the decision of the Polish Financial SupervisionAuthority ("PFSA") related to fulfilling by the Bank at consolidatedlevel an additional capital requirement for covering the risk related tothe foreign currency mortgage loans for households at 3,25 p.p. fortotal capital ratio. In addition, for Tier 1 capital ratio and CET1capital ratio the additional capital requirement amounts to 2,44 p.p.and 1,82 p.p. respectively.

In the respective decision, PFSA informs that recommended by PFSAminimum capital requirements for mBank S.A. at the individual levelamounts to 13,61% for Tier 1 capital ratio and 17,56% for total capitalratio. At the consolidated level minimum capital requirements amount to13,19% for Tier 1 capital ratio and 17,00% for total capital ratio.

At the date of this current report, mBank S.A. fulfils the PFSArequirements related to the minimum capital ratios on both theindividual and consolidated levels.