Dismissal of a member of the Management Board of mBank S.A.

Current Report |

Drafted on:

25.06.2020

Current report No

41/2020

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. (the Bank) announces that on 25 June 2020, the Supervisory Board of the Bank adopted a resolution regarding dismissal of Mr. Frank Bock from the post of Vice-President of the Management Board, Head of Financial Markets of mBank S.A.

The negative economic effects caused by the COVID19 pandemic require the banking sector to adapt its strategy and take non-standard actions.

Termination of the contract of Mr. Frank Bock as of 31.12.2020 is associated with the reorganization of the financial markets area within other business areas of the Bank in order to increase efficiency of organizational structure and processes, and its effect will be a reduction in the number of positions on the Bank's Management Board by one. Until the end of the year Mr. Frank Bock will be involved in the re-organization of the area.

The above constitutes the sole reason for termination of the contract by dismissing Mr. Frank Bock from the position of the Vice President of the Management Board for Financial Markets mBank S.A. as of 31.12.2020 r.

Vice-director for investment supervision, Compliance Department

Maciej Mołdawa 25.06.2020