Consent on participation in the creation of the protection schemereferred to in Article 4.1.9a of the Banking Law Act of 29 August 1997(Banking Law)

Management Board of mBank S.A. (Bank) informs that on 7 June 2022 itreceived information that the Management Boards and Supervisory Boardsof the Bank and Alior Bank S.A., BNP Paribas Bank Polska S.A., ING BankPolska S.A., Millennium Bank S.A., Bank Polska Kasa Opieki S.A., PKOBank Polski S.A., Santander Bank Polska S.A. (Member Banks) passedresolutions on consenting to submitting an application to the PolishFinancial Supervision Authority for approval and for recognition of theprotection scheme the members of which are banks operating in the formof a joint-stock company with the draft agreement on the protectionscheme, i.e. Member Banks' participation in the creation of theprotection scheme referred to in Article 4.1.9a of the Banking Law Actof 29 August 1997 (Banking Law).

The protection scheme shall be created on condition of signing theagreement on the protection scheme. The draft agreement on theprotection scheme shall be approved by the Polish Financial SupervisionAuthority (PFSA).

After the issue of the decision on approval of the draft agreement onthe protection scheme and recognition of the protection scheme by thePFSA, the Member Banks will create a joint-stock company being theprotection scheme managing entity (Managing Entity). The establishmentof the Managing Entity depends on the approval of the concentration bythe President of the Office of Competition and Consumer Protection. Theshare capital of the Managing Entity shall be PLN 1,000,000. The Bankwill take up 12,193 shares of the Managing Entity, of the total parvalue of PLN 121,930 or 12.2% of its share capital.

The objective of the protection scheme is to:

1. ensure liquidity and solvency of the Member Banks on the terms andconditions and to the extent set out in the agreement on the protectionscheme; and

2. support:

a. the resolution procedure pursued by the Bank Guarantee Fund (BGF) forthe bank being a joint-stock company; and

b. acquisition of the bank being a joint-stock company under Article146b.1 of the Banking Law.

The protection scheme can be joined by other local banks, provided theysatisfy the terms and conditions set out in effective law and theagreement on the protection scheme.

The Managing Unit shall establish an aid fund to ensure resources forfunding the tasks of the protection scheme. The aid fund will be formedof the contributions made by Member Banks being 0.4% of the amount ofthe guaranteed funds of the given bank covered by the mandatory depositguarantee scheme, referred to in Article 2.34 of the Act on the BankGuarantee Fund, the Deposit Guarantee Scheme and Resolution of 10 June2016 (BGF Act), Given the level of guaranteed funds of the Bank as atthe end of Q1 2022; i.e. PLN 97 708 528 894, it is estimated that theBank will pay the amount of PLN 390 834 116 to the aid fund. The saidamount can change should the payment be determined using the amount ofguaranteed funds as at the end of Q2 2022 and should the amount of theguaranteed funds change. Subsequent contributions to the aid fund shallrequire a unanimous resolution of the general meeting of the ManagingEntity.

In line with Article 287.2 and ff. of the BGF Act, the BGF Board canresolve to lower the level of funds in the deposit guarantee scheme atbanks, considering inter alia the amount of funds accumulated by theprotection scheme. Further, in line with Article 15.1h.5 of theCorporate Income Tax Act of 15 February 1992, aid fund contributions ofthe protection scheme members are tax deductible.

The accountability of each Member Bank for their liabilities connectedwith the protection scheme membership shall be limited to the amount ofcontributions a given Member Bank is required to make to take up sharesof the Managing Entity and the amounts the Member Bank is required topay to the aid fund.

Each Member Bank can terminate the agreement on the protection schemeagainst a 24-month notice. After terminated, the agreement shallcontinue to apply to the other Member Banks.