Bank Millennium S.A.

July 14, 2023

Current Report no. 22/2023

SUBJECT: Affirmation of key ratings for Bank Millennium by Fitch ratingagency and change of their outlook to _#8216;Positive' from _#8216;Stable'.

Bank Millennium S.A's [Bank] Management Board informs that on July 13,2023, Fitch Ratings [Fitch] affirmed the Bank's Long-Term Issuer DefaultRating [IDR] and Local Currency Long-Term IDR [LC LT IDR] at 'BB' andadditionally revised to _#8216;Positive' from _#8216;Stable' Outlooks for theseratings. Additionally, Fitch affirmed at _#8216;bb' the Viability Rating [VR]for the Bank.

According to Fitch _#8216;the revision of the Outlook reflects our base-caseexpectation for medium-term improvement of the Bank's risk profilethrough further gradual reduction of the risks related to itsforeign-currency mortgage loan portfolio. It also considers expectationsthat improved core profitability will allow to absorb on-going legalcosts and potential government intervention leading to further recoveryof the bank's capitalisation'.

The full list of rating action and the text of the original ratingreport of Fitch are available at Fitch's website:

https://www.fitchratings.com/research/banks/fitch-revises-millennium-outlook-to-positive-affirms-idr-at-bb-13-07-2023

Legal base: Art. 17.1 of MAR