Bank Millennium S.A.

June 16, 2023

Current report no. 20/2023

SUBJECT: Preliminary estimation of provisions against legal risk relatedto FX mortgage loans portfolio in 2Q 2023.

The Management Board of Bank Millennium S.A. [the Bank] informs that thepreliminary estimation of 2nd quarter 2023 provisions for legal riskconnected with FX mortgage loans originated by the Bank amounts to PLN680 million, bringing the total accumulated amount of provisions createdduring the 1st half 2023 to circa PLN 1,500 million. Additionally, PLN38 million worth of provisions are estimated to be created against legalrisk related to the loan book originated by former Euro Bank S.A. [1H23:circa PLN 81 million] but without a bottom line impact.

These preliminary, unaudited, estimates take into consideration thejudgement of the European Court of Justice of June 15, 2023 on caseC-520/21, with resultant elimination from the Bank's legal riskprovisioning methodology of the probability of receiving remunerationfor the use of capital it had provided. Additionally, the Bank alsoupdated other parameters in this methodology.

Assuming the above mentioned preliminary estimation of provisions and noother unexpected events, and taking into consideration the continuationof positive results from the core business activity, the ManagementBoard expects the Bank to post a positive net result in 2nd quarter 2023and consequently a positive net result in the 1st half of 2023.

Final value of legal risk provisions in 2nd quarter 2023 and 1st half2023 financial results will be disclosed in the 1st half reportscheduled for July 26, 2023.

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