mBank S.A.

Board/Management Information • Mar 30, 2017

Information on changes in the Management Board of mBank S.A.

The Management Board of mBank S.A. (the Bank) informs of the followingchanges:

I.With reference to report no. 4/2017 dated 16 February 2017, on 30March 2017, Vice-President of the Management Board, Mr JarosławMastalerz, resigned from his functions at the Bank. The resignation isto take effect as of 31 March 2017.The reason behind Mr Mastalerz’resignation is his intention to engage in the development andcommercialisation of new technologies in the financial sector within aproject implemented in cooperation with the Bank.

II.On 30 March 2017, Vice-President of the Management Board, ChiefFinancial Officer, Mr Christoph Heins, resigned from his functions atthe Bank. The resignation is to take effect as of 30 June 2017.MrChristoph Heins has not disclosed the reason for his resignation.

III.Under a resolution of the Bank's Supervisory Board of 30 March2017, Mr Krzysztof Dąbrowski was appointed as Vice-President of theManagement Board, Head of Operations and Information Technology, as of 1April 2017 until the end of the current term of the Management Board.MrKrzysztof Dąbrowski graduated from the Warsaw University of Technology,Faculty of Electronics and Information Technology. In 2011, he completedthe Executive MBA programme at the University of Warsaw and theUniversity of Illinois. He has obtained extensive knowledge regarding ITin several industries. In 1995-2003, he worked in the Internet andtelecommunications industry for Polska Online and TDC Internet, where hewas responsible for the development of hosting systems and services. Inthe years 2004-2011, he was the head of the Software DevelopmentDepartment in the Polish shared service centre of F. Hoffman-La Roche.In the following years, as CTO of Allegro Group Mr Dąbrowski supervisedone of the biggest agile transformations in the region. Since 2014, hehas performed the functions of CIO/CTO and managing director at mBank.Tothe best of the Management Board’s knowledge, Mr Krzysztof Dąbrowski isnot involved in any activities which compete with those carried out bythe Bank.Mr Krzysztof Dąbrowski has no records in the Register ofInsolvent Debtors maintained under the National Court Register Act.

IV.Under a resolution of the Bank's Supervisory Board of 30 March2017, Mr Andreas Böger was appointed as Vice-President of the ManagementBoard, Chief Financial Officer, as of 1 July 2017 until the end of thecurrent term of the Management Board.Mr Andreas Böger is currentlythe head of the Corporate Finance division within Commerzbank’s GroupDevelopment and Strategy. His duties include preparation of thestrategic balance sheet and management of Commerzbank Group’s capital,as well as other tasks related to finance and regulatory activities.MrAndreas Böger joined Commerzbank in 2013. He was previously a managingdirector in Global Capital Markets and Capital Solutions Europe & CEEMEAat Deutsche Bank in London (2007-2013). Before he started working atDeutsche Bank in Frankfurt in 2003, Andreas Böger had headedHypoVereinsbank’s asset, liability and capital advisory in Munich since1994.He studied in Frankfurt and San Diego, graduated from theFrankfurt School of Finance & Management and holds a CFA certificate.Tothe best of the Management Board’s knowledge, Mr Böger is not involvedin any activities which compete with those carried out by the Bank.MrAndreas Böger has no records in the Register of Insolvent Debtorsmaintained under the National Court Register Act.

V.Under a resolution of the Bank's Supervisory Board of 30 March2017, Mr Frank Bock was appointed as Vice-President of the ManagementBoard, Head of Financial Markets, as of 1 May 2017 until the end of thecurrent term of the Management Board.Mr Frank Bock has been ManagingDirector Treasury at Commerzbank AG since 2009. He is responsible forasset and liability management, market risk management as well asliquidity management for Central and Eastern Europe.He was Asset andLiability Management Director in Dresdner Bank AG in Frankfurt am Mainresponsible for banking book market risk management and liquidityportfolio management.Before he joined Dresdner Bank AG, Mr Bockworked for WestLB AG in Düsseldorf as Head of Credit Treasury in GroupTreasury and was senior manager in Risk Management.He graduated fromthe Technical University in Karlsruhe (Germany) asDiplom-Wirtschaftsingenieur. He specialised in financial engineering andIT.To the best of the Management Board’s knowledge, Mr Frank Bock isnot involved in any activities which compete with those carried out bythe Bank.Mr Frank Bock has no records in the Register of InsolventDebtors maintained under the National Court Register Act.