mBank S.A.

Capital/Financing Update • Sep 22, 2020

Request of the Polish Financial Supervision to the Financial StabilityCommittee Authority to express an opinion concerning the othersystemically important institution buffer imposed on mBank S.A.

The Management Board of mBank S.A. ("Bank") informs that in the courseof administrative proceedings conducted by the Polish FinancialSupervision Authority (PFSA), on 22 September 2020, the Bank received aletter, in which the PFSA asks the Financial Stability Committee (FSC)to express its opinion regarding the amount of the other systemicallyimportant institution (O-SII) buffer imposed on the Bank.

Pursuant to the PFSA's decision of 14 October 2019, the Bank iscurrently required to maintain the O-SII buffer in the amount equivalentto 0.75% of the total risk exposure amount calculated in accordance withArt. art. 92 par. 3 of the Regulation of the European Parliament and ofthe Council (EU) No. 575/2013 of 26 June 2013 on prudential requirementsfor credit institutions and investment firms, amending Regulation (EU)No. 648/2012 ("CRR"), which the Bank reported in the current report42/2019 of 16 October 2019.

As part of the review of the adequacy of the O-SII buffer, carried outby the PFSA in accordance with art. 46 par. 1 of the Act of 5 August2015 on Macroprudential Supervision of the Financial System and CrisisManagement (Journal of Laws of 2019, item 483), the PFSA indicated thatthe assessment of systemic importance of the Bank is the basis to imposeon the Bank the O-SII buffer in the amount equivalent to 0.50% of thetotal risk exposure amount calculated in accordance with Art. art. 92par. 3 of CRR, instead of the current buffer of 0.75%.

A final decision will be taken by the PFSA after obtaining the FSC'sposition. The Bank will inform in a separate report about the completionof the proceedings and decision regarding the O-SII buffer.