Long-term rating Short-term rating Viabilityrating Outlook for LT rating BBB F2 bbb Stable BBB: Good credit quality. BBB' ratings indicate that expectations of default risk are currently low. The capacity for payment of financial commitments is considered adequate but adverse business or economic conditions are more likely to impair this capacity. F2: Good Short-Term Credit Quality. Good intrinsic capacity for timely payment of financial commitments. Ratings for unsecured issuances under Euro Medium Term Note Programme (EMTN) Senior Preferred Debt Long-term rating Short-term rating BBB+ F2 Senior Non-Preferred Debt Long-term BBB Subordinated Tier 2 bonds and AT1 instruments Subordinated Tier 2 bonds (in EUR) Additional T1 (AT1) instruments BB+ BB- Rating for Poland Long-term Short-term A- F2 Analysts Michał Bryks Artur Szeski michal.bryks@fitchratings.com artur.szeski@fitchratings.com more information about the methodology and rating scale of Fitch Historic ratings of mBank issued by Fitch

Long-term credit rating Short-term credit rating Stand-alone credit profile (SACP) Outlook for long-term rating BBB+ A-2 bbb positive BBB (on the scale: AAA, AA, A, BBB, BB, B, CCC, CC, R, SD and D; the ratings from 'AA' to 'CCC' may be modified by the addition of a plus (+) or a minus (-) to show relative standing within the major rating categories) - An obligor rated 'BBB' has adequate capacity to meet its financial commitments. However, adverse economic conditions or changing circumstances are more likely to lead to a weakened capacity of the obligor to meet its financial commitments. A-2 (on the scale: A-1, A-2, A-3, B, C, R, SD and D) - An obligor rated 'A-2' has a satisfactory capacity to meet its financial commitments. However, it is somewhat more susceptible to the adverse effects of changes in circumstances and economic conditions than obligors in the highest rating category. Ratings for unsecured issuances under Euro Medium Term Note Programme (EMTN) Senior Preferred Debt Long-term credit rating Short-term credit rating BBB+ A-2 Senior Non-Preferred Debt Long-term credit rating Short-term credit rating BBB- A-2 Subordinated Tier 2 bonds Subordinated Tier 2 bonds (in EUR) BB+ Resolution counterparty rating (RCR) Long-term Short-term A- A-2 Rating for Poland Long-term Short-term A- A2 Analysts Lukas Freund Heiko Verhaag lukas.freund@spglobal.com heiko.verhaag@spglobal.com More about the methodology and rating scale of Standard and Poor’s Historic ratings of mBank issued by Standard & Poor’s

Moody’s RatingsMoody’s ratings are based on publicly available information. Long-term depositrating Short-term depositrating Baseline Credit Assesment(BCA) AdjustedBCA Counterparty riskassessment A3 P-2 baa3 baa2 A2(cr)/P-1(cr) More about the methodology and rating scale of Moody’s Historical ratings of mBank issued by Moody's Rating for Poland Long-term Short-term A2 P-1 Capital Intelligence Ratings Rating based on publicly available information. Long-Term Foreign Currency Rating Short-Term Foreign Currency Rating Bank Standalone Rating (BSR) Core Financial Strength (CFS) BBB A2 bbb bbb Latest change: 6 April 2023 More about the methodology and rating scale of Capital Intelligence

Morningstar Sustainalytics

The Morningstar Sustainalytics ESG Risk Rating measures a company's exposure to significant industry-specific ESG risks and how well the company manages those risks. This multidimensional way of measuring ESG risk combines management and exposure concepts to obtain an ESG risk rating. It is a quantitative measure of unmanaged ESG risk (ESG risk score or ESG Risk Rating), which is comparable across all industries. The ESG risk rating from Sustainalytics distinguishes five levels of risk: negligible, low, medium, high, and severe. ESG Risk Rating ESG Risk Category Latest change 15.5 &bdquo;low risk” 19.01.2026 legal note ESG Risk Rating Summary Report

The MSCI ESG Rating measures a company's resilience to long-term ESG risks. Companies are rated on a scale from AAA (leader) to CCC (laggard) based on their exposure to sector-specific risks and their ability to manage those risks compared to their peer group. ESG Rating Scale Latest change AA &bdquo;Leader” 14.10.2025 legal note

Investor relations - ratings and debt instruments

ratings

Long-term rating Short-term rating Viability
rating Outlook for LT rating
BBB F2 bbb Stable
Long-term rating Short-term rating Viability
rating Outlook for LT rating
BBB F2 bbb Stable

BBB: Good credit quality. BBB' ratings indicate that expectations of default risk are currently low. The capacity for payment of financial commitments is considered adequate but adverse business or economic conditions are more likely to impair this capacity.

F2: Good Short-Term Credit Quality. Good intrinsic capacity for timely payment of financial commitments.

Ratings for unsecured issuances under Euro Medium Term Note Programme (EMTN)

Senior Preferred Debt

Long-term rating

Short-term rating

BBB+

F2

Long-term rating

Short-term rating

BBB+

F2

Senior Non-Preferred Debt

Long-term

BBB

Subordinated Tier 2 bonds and AT1 instruments

Subordinated Tier 2 bonds (in EUR)

Additional T1 (AT1) instruments

BB+

BB-

Subordinated Tier 2 bonds (in EUR)

Additional T1 (AT1) instruments

BB+

BB-

Rating for Poland

Long-term Short-term
A- F2
Long-term Short-term
A- F2

Analysts

Michał Bryks Artur Szeski
michal.bryks@fitchratings.com artur.szeski@fitchratings.com
Michał Bryks Artur Szeski
michal.bryks@fitchratings.com artur.szeski@fitchratings.com

more information about the methodology and rating scale of Fitch
Historic ratings of mBank issued by Fitch
Long-term credit rating Short-term credit rating Stand-alone credit profile (SACP) Outlook for long-term rating
BBB+ A-2 bbb positive
Long-term credit rating Short-term credit rating Stand-alone credit profile (SACP) Outlook for long-term rating
BBB+ A-2 bbb positive

BBB (on the scale: AAA, AA, A, BBB, BB, B, CCC, CC, R, SD and D; the ratings from 'AA' to 'CCC' may be modified by the addition of a plus (+) or a minus (-) to show relative standing within the major rating categories) - An obligor rated 'BBB' has adequate capacity to meet its financial commitments. However, adverse economic conditions or changing circumstances are more likely to lead to a weakened capacity of the obligor to meet its financial commitments. A-2 (on the scale: A-1, A-2, A-3, B, C, R, SD and D) - An obligor rated 'A-2' has a satisfactory capacity to meet its financial commitments. However, it is somewhat more susceptible to the adverse effects of changes in circumstances and economic conditions than obligors in the highest rating category.

Ratings for unsecured issuances under Euro Medium Term Note Programme (EMTN)

Senior Preferred Debt

Long-term credit rating

Short-term credit rating

BBB+

A-2

Long-term credit rating

Short-term credit rating

BBB+

A-2

Senior Non-Preferred Debt

Long-term credit rating

Short-term credit rating

BBB-

A-2

Long-term credit rating

Short-term credit rating

BBB-

A-2

Subordinated Tier 2 bonds

Subordinated Tier 2 bonds (in EUR)

BB+

Subordinated Tier 2 bonds (in EUR)

BB+

Resolution counterparty rating (RCR)

Long-term Short-term
A- A-2
Long-term Short-term
A- A-2

Rating for Poland

Long-term Short-term
A- A2
Long-term Short-term
A- A2

Analysts

Lukas Freund Heiko Verhaag
lukas.freund@spglobal.com heiko.verhaag@spglobal.com
Lukas Freund Heiko Verhaag
lukas.freund@spglobal.com heiko.verhaag@spglobal.com

More about the methodology and rating scale of Standard and Poor’s
Historic ratings of mBank issued by Standard & Poor’s
Moody’s Ratings

Moody’s ratings are based on publicly available information.

Long-term deposit
rating Short-term deposit
rating Baseline Credit Assesment
(BCA) Adjusted
BCA Counterparty risk
assessment
A3 P-2 baa3 baa2 A2(cr)/P-1(cr)
Long-term deposit
rating Short-term deposit
rating Baseline Credit Assesment
(BCA) Adjusted
BCA Counterparty risk
assessment
A3 P-2 baa3 baa2 A2(cr)/P-1(cr)

More about the methodology and rating scale of Moody’s
Historical ratings of mBank issued by Moody's

Rating for Poland

Long-term Short-term
A2 P-1
Long-term Short-term
A2 P-1

Capital Intelligence Ratings

Rating based on publicly available information.

Long-Term Foreign Currency Rating Short-Term Foreign Currency Rating Bank Standalone Rating (BSR) Core Financial Strength (CFS)
BBB A2 bbb bbb
Long-Term Foreign Currency Rating Short-Term Foreign Currency Rating Bank Standalone Rating (BSR) Core Financial Strength (CFS)
BBB A2 bbb bbb

Latest change: 6 April 2023

More about the methodology and rating scale of Capital Intelligence

Long-term rating	Short-term rating	Viability rating	Outlook for LT rating
BBB	F2	bbb	Stable

Long-term rating	Short-term rating	Viability rating	Outlook for LT rating
BBB	F2	bbb	Stable

Long-term rating	Short-term rating
BBB+	F2

Long-term rating	Short-term rating
BBB+	F2

Subordinated Tier 2 bonds (in EUR)	Additional T1 (AT1) instruments
BB+	BB-

Subordinated Tier 2 bonds (in EUR)	Additional T1 (AT1) instruments
BB+	BB-

Long-term	Short-term
A-	F2

Long-term	Short-term
A-	F2

Michał Bryks	Artur Szeski
michal.bryks@fitchratings.com	artur.szeski@fitchratings.com

Michał Bryks	Artur Szeski
michal.bryks@fitchratings.com	artur.szeski@fitchratings.com

Long-term credit rating	Short-term credit rating	Stand-alone credit profile (SACP)	Outlook for long-term rating
BBB+	A-2	bbb	positive

Long-term credit rating	Short-term credit rating	Stand-alone credit profile (SACP)	Outlook for long-term rating
BBB+	A-2	bbb	positive

Long-term credit rating	Short-term credit rating
BBB+	A-2

Long-term credit rating	Short-term credit rating
BBB+	A-2

Long-term credit rating	Short-term credit rating
BBB-	A-2

Long-term credit rating	Short-term credit rating
BBB-	A-2

Subordinated Tier 2 bonds (in EUR)
BB+

Subordinated Tier 2 bonds (in EUR)
BB+

Long-term	Short-term
A-	A-2

Long-term	Short-term
A-	A-2

Long-term	Short-term
A-	A2

Long-term	Short-term
A-	A2

Lukas Freund	Heiko Verhaag
lukas.freund@spglobal.com	heiko.verhaag@spglobal.com

Lukas Freund	Heiko Verhaag
lukas.freund@spglobal.com	heiko.verhaag@spglobal.com

Long-term deposit rating	Short-term deposit rating	Baseline Credit Assesment (BCA)	Adjusted BCA	Counterparty risk assessment
A3	P-2	baa3	baa2	A2(cr)/P-1(cr)

Long-term deposit rating	Short-term deposit rating	Baseline Credit Assesment (BCA)	Adjusted BCA	Counterparty risk assessment
A3	P-2	baa3	baa2	A2(cr)/P-1(cr)

Long-term	Short-term
A2	P-1

Long-term	Short-term
A2	P-1

Long-Term Foreign Currency Rating	Short-Term Foreign Currency Rating	Bank Standalone Rating (BSR)	Core Financial Strength (CFS)
BBB	A2	bbb	bbb

Long-Term Foreign Currency Rating	Short-Term Foreign Currency Rating	Bank Standalone Rating (BSR)	Core Financial Strength (CFS)
BBB	A2	bbb	bbb

The Morningstar Sustainalytics ESG Risk Rating measures a company's exposure to significant industry-specific ESG risks and how well the company manages those risks. This multidimensional way of measuring ESG risk combines management and exposure concepts to obtain an ESG risk rating. It is a quantitative measure of unmanaged ESG risk (ESG risk score or ESG Risk Rating), which is comparable across all industries. The ESG risk rating from Sustainalytics distinguishes five levels of risk: negligible, low, medium, high, and severe.

ESG Risk Rating ESG Risk Category Latest change
15.5 „low risk” 19.01.2026
ESG Risk Rating ESG Risk Category Latest change
15.5 „low risk” 19.01.2026

^{legal note}

ESG Risk Rating Summary Report
The MSCI ESG Rating measures a company's resilience to long-term ESG risks. Companies are rated on a scale from AAA (leader) to CCC (laggard) based on their exposure to sector-specific risks and their ability to manage those risks compared to their peer group.

ESG Rating     Scale Latest change
AA „Leader”      14.10.2025
ESG Rating     Scale Latest change
AA „Leader”      14.10.2025

^{legal note}

ESG Risk Rating	ESG Risk Category	Latest change
15.5	„low risk”	19.01.2026

ESG Risk Rating	ESG Risk Category	Latest change
15.5	„low risk”	19.01.2026

ESG Rating	Scale	Latest change
AA	„Leader”	14.10.2025

ESG Rating	Scale	Latest change
AA	„Leader”	14.10.2025

contact

Credit ratings

Paweł Lipiński

e-mail: pawel.lipinski@mbank.pl

ESG ratings

Magdalena Zalewska-Żołądek

e-mail: magdalena.zalewska-zoladek@mbank.pl

debt instrument issuance programs

Information about issuance programs.

The information contained on this and subsequent pages of the website does not constitute an offer to sell or a solicitation of an offer to purchase any debt securities listed on these pages.

To access information about broadcast programs, confirm that:

you are not currently located in the United States of America or any of its dependent territories,
you are not a resident of the United States or a “U.S. person” within the meaning of Regulation S pursuant to the U.S. Securities Act from 1933 (with changes)

green bond issuances

Series ISIN	Issue Date	Maturity Date	Nominal Value	Final Terms	Place of listing
11 XS2388876232	20.09.2021	21.09.2027	EUR 500 mln	pdf	Luxembourg Stock Exchange
12 XS2680046021	11.09.2023	11.09.2027	EUR 750 mln	pdf	Luxembourg Stock Exchange
13 XS2907137736	27.09.2024	27.09.2030	EUR 500 mln	pdf	Luxembourg Stock Exchange
15 XS3244863729	03.12.2025	03.03.2032	EUR 500 mln	pdf	Luxembourg Stock Exchange

Series ISIN	Issue Date	Maturity Date	Nominal Value	Final Terms	Place of listing
11 XS2388876232	20.09.2021	21.09.2027	EUR 500 mln	pdf	Luxembourg Stock Exchange
12 XS2680046021	11.09.2023	11.09.2027	EUR 750 mln	pdf	Luxembourg Stock Exchange
13 XS2907137736	27.09.2024	27.09.2030	EUR 500 mln	pdf	Luxembourg Stock Exchange
15 XS3244863729	03.12.2025	03.03.2032	EUR 500 mln	pdf	Luxembourg Stock Exchange

ratings and debt instruments