mBank S.A. — Capital/Financing Update 2020

Dec 22, 2020

Decision of the Management Board of mBank S.A. on the establishment ofthe Subsidiary mTFI S.A.

The Management Board of mBank S.A. (Bank) informs that on 22.12.2020 theManagement Board decided to establish its own investment fund company byway of founding a company under the name of mTowarzystwo FunduszyInwestycyjnych Spółka Akcyjna (mTFI S.A.). mTFI S.A. will be a whollyowned subsidiary of the Bank. The operations of mTFI may have in thefuture a material impact on the Group's results.

The Bank will start a formal, legal and regulatory process aimed atregistration of mTFI S.A. in the National Court Register and applyingfor a consent of Polish Financial Supervision Authority to conductoperations of an investment funds management company.