mBank S.A. — Capital/Financing Update 2020

Jan 2, 2020

Report on non-exercise of options for early redemption of subordinatedbonds of the MBKO170125 series

Management Board of mBank S.A. with its registered office in Warsaw(hereinafter ‘the Bank'), with reference to current report No. 117/2014of 17th December 2014, informs that the Bank will not exercise its rightto early redemption of subordinated bonds of the MBKO170125 series(hereinafter ‘Bonds'). Pursuant to point 6.4 of the Bonds issue terms,the Bank may call the Bonds on an early redemption date, ie 17th January2020, subject to the prior consent of the Financial SupervisionAuthority (hereinafter ‘KNF'). The Bonds redemption date is 17th January2025.

Pursuant to the KNF decision of 8th January 2015, the bonds with anominal value of PLN 750 million (in words: seven hundred and fiftymillion zlotys) were classified as instruments in Tier 2 capital, aboutwhich the Bank informed in the current report No. 1/2015 of 15th January2015.

The extent to which the Bonds qualify as items in Tier 2 capital duringthe last five years of the maturity period is defined in art. 64Regulation of the European Parliament and EU Council, No. 575/2013 of26th June 2013 on prudential requirements for credit institutions andinvestment firms, amending Regulation (EU) No. 648/2012.