mBank S.A.

Board/Management Information • Oct 22, 2020

Changes in Management Board of mBank S.A.

The Management Board of mBank S.A. announces that on 22 October 2020Mrs. Lidia Jabłonowska-Luba, Vice-President of the Management Board,Chief Risk Officer of mBank S.A., submitted her resignation from theposition of the member of the Management Board and from the function ofthe Chief Risk Officer of mBank S.A., with the effect as at 22 October2020.

Mrs. Lidia Jabłonowska-Luba did not mention reasons of her resignation.

On 22 October 2020 the Supervisory Board of mBank S.A. adopted aresolution regarding appointment as of 22 October 2020 of Mr. MarekLusztyn to the Management Board of mBank S.A., for the duration of thepresent term of office of the Management Board.

As of the day the Polish Financial Supervision Authority (KNF) gives itsconsent to appoint Mr. Marek Lusztyn to be Member of the ManagementBoard responsible for risk management in mBank activities, Mr. MarekLusztyn will take up the post of the Vice-President of the ManagementBoard, Chief Risk Officer of mBank S.A. (responsible for significantrisk management activities of mBank S.A.).

Marek Lusztyn

Banker with nearly 25 years of experience in the banking sector.

He holds a Doctorate in Economic from the Warsaw School of Economics. Heholds also an Executive MBA of the University of Illinois atUrbana-Champaign and the University of Warsaw, is an alumnus of INSEADand holds a Bachelor Degree in Computer Science Engineering. He alsocompleted numerous courses in the field of banking and management, amongothers at the Singularity University and the Stanford Graduate School ofBusiness.

He started his professional career at the Bank Handlowy w WarszawieS.A., where from 1996 to 2000 he worked in the Treasury and ForeignExchange Departments.

For the next 20 years he worked at the Bank Pekao S.A., which from 1999until 2017 belonged to Unicredit Group. During 2000-2008 he was the headof market risk trading book and then Financial Risk Department Director.For the following almost 10 years he held senior executive positionswithin the international structures of UniCredit SpA, where he wasresponsible for the global risk management functions.

From July 2017 until June 2020 he assumed roles in the Management Boardof the Bank Pekao S.A., where he held positions of Chief Risk Officerand Chief Executive Officer.

Since September 2019 he has been a member of the University Board of theWarsaw School of Economics, to which he was elected by the UniversitySenate with a recommendation of the University's Corporate Partners'Club formed by leading local and international companies closelycooperating with the University.

In 2014 he was named the Future Leader in Global Finance by theInstitute of International Finance, Washington, DC.

He is an author of numerous academic publications in the field ofbanking and risk management, and for a number of years lecturer in thesubjects of his expertise.

To the best of the Management Board's knowledge, Mr. Marek Lusztyn isnot involved in any activities which compete with those carried out bythe Bank.

Mr. Marek Lusztyn has no records in the Register of Insolvent Debtorsmaintained under the National Court Register Act.