mBank S.A. — M&A Activity 2019

Sep 26, 2019

Subject: IR release ofCommerzbank AG of 26.09.2019 regarding the approval of the new strategywhich assumes the sale of shares in mBank S.A.

Further to its current report No. 32/2019 dated 20September 2019, the management board of mBank S.A., with its seat inWarsaw (the "Company"), hereby discloses that on 26September 2019, Commerzbank AG, with its seat in Frankfurt am Main ("Commerzbank"),which holds approximately 69.33% of the shares in the share capital ofthe Company (which corresponds to the same percentage of the totalnumber of votes in the Company), published an IR release stating thatthe newbusiness strategy "Commerzbank 5.0" has beenapproved by Commerzbank's board of managing directors and supervisoryboard. The new strategy foresees, among other things, the disposal ofCommerzbank's majority stake in the Company.

The full IR release of Commerzbank is available onits corporate website at the following address:https://www.commerzbank.com/media/aktionaere/service/archive/konzern/2019_1/strategy_update_1/20190926_IR_release.pdf