Bank Millennium S.A.

July 8, 2022

Current report no. 20/2022

SUBJECT: Creation of additional provisions against legal risk related toFX mortgage loans portfolio.

The Management Board of Bank Millennium S.A. (_#8216;the Bank') informs thatit took a decision to create in its 2nd quarter 2022 accounts, PLN 467.4million of provisions for legal risk connected with FX mortgage loansoriginated by the Bank. Additional PLN 48.0 million provisions will alsobe created against legal risk related to the loan book originated byformer Euro Bank S.A. but without a bottom line impact. The provisionsreflect the continuing negative trends in court decisions, inflow of newcourt cases and resultant changes in the Bank's legal risk assessmentmethodology.

On the Bank's early estimates, despite this level of provisions the Bankwould, owing to its solid operating performance, post a positive netresult for the 2nd quarter of 2022. However, due to booking of costsrelated to joining the IPS as reported by the Bank in the current report19/2022 published on June 7 2022, the Bank will post a negative netresult for the 2nd quarter of 2022.

More information about the legal risk and 2nd quarter 2022 financialresults will be disclosed in a semi-annual financial report scheduledfor July 26, 2022.

Legal basis: art. 17 section 1 MAR - confidential information

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