Bank Millennium S.A.

Audit Report / Information • Jul 26, 2022

This is a translation of the Independent Auditor's Report originally issued in Polish

INDEPENDENT AUDITOR'S REPORT ON REVIEW OF CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS

To Shareholders and Supervisory Board of Bank Millennium S.A.

Introduction

We have reviewed the accompanying condensed interim consolidated financial statements of Bank Millennium S.A. Group (hereinafter: the "Group"), for which Bank Millennium S.A with its registered office in Warsaw, Stanisława Żaryna 2A is the Parent (hereinafter: the "Parent", "Bank"), comprising: the consolidated income statement, consolidated statement of total comprehensive income for the period from 1 January 2022 to 30 June 2022, the consolidated balance sheet prepared as at 30 June 2022, the consolidated statement of changes in equity, consolidated cash flow statement for the period from 1 January 2022 to 30 June 2022 and selected explanatory notes ("condensed interim consolidated financial statements").

The Management Board of the Parent is responsible for the preparation and presentation of these condensed interim consolidated financial statements in accordance with International Accounting Standard 34 "Interim Financial Reporting" announced in the form of Commission Regulations.

Our responsibility is to express a conclusion on these condensed interim consolidated financial statements based on our review.

Scope of Review

We conducted our review in accordance with the National Standard on Review Engagements 2410 in the wording of the International Standard on Review Engagements 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" adopted by the National Council of Statutory Auditors.

A review of condensed interim consolidated financial statements consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with National Standards on Auditing in line with the wording of International Standards on Auditing adopted by the National Council of Statutory Auditors and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion on these condensed interim consolidated financial statements.

Conclusion

Based on our review, nothing has come to our attention that causes us to believe that the accompanying condensed interim consolidated financial statements are not prepared, in all material respects, in accordance with International Accounting Standard 34 "Interim Financial Reporting" announced in the form of Commission Regulations.

Explanatory paragraph

Please note the disclosure in section 10.2 of the Condensed Interim Consolidated Financial Statement of the Capital Group of Bank Millennium S.A. for the period of 6 months ended on 30 July 2022, in which the Management Board of the Bank provided relevant information on the pending court decisions that may affect the current status of disputes concerning mortgage loans indexed to the Swiss franc (CHF) and the Bank's ongoing settlement proceedings concerning the above-mentioned loans. Our review report does not contain qualification in relation to this matter.

Auditor conducting the review on behalf of Deloitte Audyt spółka z ograniczoną odpowiedzialnością sp. k. – entity entered under number 73 on the list of auditors:

Dorota Snarska-Kuman Certified auditor No. 9667

Warsaw, 25 July 2022