Decision of the Management Board of mBank S.A. approved by theSupervisory Board of mBank S.A. with regard to the motion concerning thedistribution of undistributed retained profit and distribution of profitgenerated in 2015

The Management Board of mBank S.A. ("Bank") announces that on 25February 2016 it resolved to request the Annual General Meeting toconsider the motion concerning the distribution of undistributedretained profit providing for non-distribution of the undistributedretained profit in the amount of PLN 1,223,305,322.12.

As regards the 2015 net profit, the Management Board of the Bank decidedto ask the Annual General Meeting to consider the following motion:

Out of the net profit generated in 2015 by mBank S.A. in the amount ofPLN 1,271,449,406.95 the amount of PLN 30,000,000.00 should be earmarkedfor mBank's general risk fund.

The remaining part of the profit, amounting to PLN 1,241,449,406.95,will remain undistributed.

The resolution of the Management Board of the Bank on the submission ofthe motion concerning the distribution of the net profit generated in2015 and the undistributed retained profit for consideration of theAnnual General Meeting of the Bank was submitted for evaluation to theSupervisory Board pursuant to Article 382 (3) of the Code of CommercialPartnerships and Companies.

The resolution of the Management Board of the Bank on the submission ofthe motion concerning the distribution of the net profit generated in2015 and the undistributed retained profit for consideration of theAnnual General Meeting of the Bank was approved by the Supervisory Boardof the Bank on 25 February 2016.