Current Report |

Drafted on:

12.09.2014

Current report No

84/2014

Abbreviated issuer&rsquo|s name

mBank

Contents: |

The Management Board of mBank S.A. with its registered office in Warsaw ("|Bank"|) informs that on 11 September 2014 the Bank's subsidiary Aspiro S.A. ("|Aspiro"|) being the majority shareholder of the company BRE UbezpieczeniaTowarzystwoUbezpieczeń i Reasekuracji S.A. ("|BRE TUiR"|), concluded an agreement with Avanssur SA on the sale of 100% shares in BRE TUiR i.e. 15,741,177 authorising to make 15,741,177 votes during a general meeting, that is 100% of the total number of votes during a general meeting of BRE TUiR ("|Agreement on the Sale of Shares"|).

In accordance with the Agreement of the Sale of Shares sale of 100% of shares of BRE TUiR to Avanssur SA is conditioned by meeting specific conditions precedent, in particular: (i) obtain the consent of the Office of Competition and Consumer Protection and (ii) no objections raised by the Polish Financial Supervision Authority.

Under the transaction, as a result of meeting the conditions specified in the Agreement on the Sale of Shares, other agreements will also be concluded connected with the Agreement on the Sale of Shares, which regulate long-term cooperation between the Bank and the AXA Group entities in the subject of distribution with regard to life insurance and property insurance products.

The expected total value of remuneration for concluding agreements with entities for the AXA Group will reach nearly PLN 570 million, out of which the amount of PLN 180 million will be spread over the 10-year period.

Moreover the Bank and Aspiro will have the possibility to obtain an additional "|earn-out"| remuneration for distribution with regard to life insurance products.

Deputy Director of the Compliance Department

Maciej Mołdawa 12.09.2014 |