Current Report |

Drafted on:

22.10.2020

Current report No

68/2020

Legal basis: |

Article 56 sec. 1 item 2) of the Act on public offering, conditions governing the introduction of financial instruments to organized trading, and public companies &ndash| current and periodic information

Contents: |

The Management Board of mBank S.A. announces that on 22 October 2020 Mrs. Lidia Jabłonowska-Luba, Vice-President of the Management Board, Chief Risk Officer of mBank S.A., submitted her resignation from the position of the member of the Management Board and from the function of the Chief Risk Officer of mBank S.A., with the effect as at 22 October 2020.

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Mrs. Lidia Jabłonowska-Luba did not mention reasons of her resignation.

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On 22 October 2020 the Supervisory Board of mBank S.A. adopted a resolution regarding appointment as of 22 October 2020 of Mr. Marek Lusztyn to the Management Board of mBank S.A., for the duration of the present term of office of the Management Board.

As of the day the Polish Financial Supervision Authority (KNF) gives its consent to appoint Mr. Marek Lusztyn to be Member of the Management Board responsible for risk management in mBank activities, Mr. Marek Lusztyn will take up the post of the Vice-President of the Management Board, Chief Risk Officer of mBank S.A. (responsible for significant risk management activities of mBank S.A.).

Marek Lusztyn

Banker with nearly 25 years of experience in the banking sector.

He holds a Doctorate in Economic from the Warsaw School of Economics. He holds also an Executive MBA of the University of Illinois at Urbana-Champaign and the University of Warsaw, is an alumnus of INSEAD and holds a Bachelor Degree in Computer Science Engineering. He also completed numerous courses in the field of banking and management, among others at the Singularity University and the Stanford Graduate School of Business.

He started his professional career at the Bank Handlowy w Warszawie S.A., where from 1996 to 2000 he worked in the Treasury and Foreign Exchange Departments.

For the next 20 years he worked at the Bank Pekao S.A., which from 1999 until 2017 belonged to Unicredit Group. During 2000-2008 he was the head of market risk trading book and then Financial Risk Department Director. For the following almost 10 years he held senior executive positions within the international structures of UniCredit SpA, where he was responsible for the global risk management functions.

From July 2017 until June 2020 he assumed roles in the Management Board of the Bank Pekao S.A., where he held positions of Chief Risk Officer and Chief Executive Officer.

Since September 2019 he has been a member of the University Board of the Warsaw School of Economics, to which he was elected by the University Senate with a recommendation of the University's Corporate Partners' Club formed by leading local and international companies closely cooperating with the University.

In 2014 he was named the Future Leader in Global Finance by the Institute of International Finance, Washington, DC.

He is an author of numerous academic publications in the field of banking and risk management, and for a number of years lecturer in the subjects of his expertise.

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To the best of the Management Board&rsquo|s knowledge, Mr. Marek Lusztyn is not involved in any activities which compete with those carried out by the Bank.

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Mr. Marek Lusztyn has no records in the Register of Insolvent Debtors maintained under the National Court Register Act.

Vice-director for investment supervision, Compliance Department

Maciej Mołdawa 22.10.2020