Resolution of the Management Board of mBank S.A. concerning the "CapitalManagement Policy of mBank Group" regarding amendment of the DividendPolicy of mBank S.A.

The Management Board of mBank S.A. ("Bank_quot;) informs that on 31 March2022, it adopted a resolution concerning the "Capital Management Policyof mBank Group", including an amendment to the Bank's Dividend Policy.The amended Dividend Policy provides that no dividend shall be paid fromthe profit earned by mBank S.A. in 2022.

Considering the uncertainties arising from the war in Ukraine the goalof the mBank Group for 2022 should be to strengthen the capital base.Taking into account the above no dividend will be paid from profitearned in 2022. Nevertheless, the long-term strategy of mBank forsubsequent years assumes dividend pay-out at the level of 50% of netprofit as previously announced by the Bank in current report No. 54/2021dated 29 October 2021.

On March 31, 2022 the Supervisory Board of the Bank approved the"Capital Management Policy of mBank Group" adopted by the ManagementBoard including the above mentioned amendment to the Bank's DividendPolicy.