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Full speed ahead! CAPITAL MARKETS DAY, 23.09.2025 Strategy of mBank Group for 2026-2030
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Introduction to mBank Group’s new strategy What does "Full speed ahead!" mean for mBank? Three pillars of mBank Group’s Strategy for 2026-2030 Financial perspective and targets 01 02 03 04 Table of contents
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Introduction to mBank Group’s new strategy 01
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We put clients in the centre of all our actions mBank’s business model, along with its client base and relationships, provides an exceptional starting point for new strategy 1 Sum of net interest income and net fee and commission income Source: CAGR for the banking sector calculated based on monthly statistics published by the Polish Financial Supervision Auth ority (KNF), Kantar Millward Brown / Research Collective for NPS. Proven ability of organic growth and expanding our revenue share Valuable client base with favourable demographic profile Reputable partner for corporates with deep industry expertise Average annual growth of core income 1 in the last 15 years (CAGR for 2009-2024) Share of GenZ+Millennials in mBank’s client base vs. in the population 13+ in 2024 NPS Corporate Banking Poland survey for 2024 mBank Polish sector mBank Poland mBank Market 11.5% 8.2% 67% 45% 56% 42% Strategy of mBank Group 2026-2030 – Full speed ahead!4
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mBank’s successful franchise is powered by unique culture, strong brand, advanced technology and organisational agility Source: Mercer, Brand power model based on brand awareness and brand associations, Minds & Roses, n = 4,800. Highly engaged, motivated employees enable above-market growth Strongest brand on the Polish banking market, one of the most recognized Advanced technology and deployment of innovative solutions Employee engagement score for 2024 Brand power of Polish banks in Q4/24 among mass customers 21-40 Digital-first mindset IT development and replatforming Cloud-readiness by design Implementation of Gen AI Multi-layer cybersecurity We leverage on our organisational strengths and key success factors mBank 2024 Top quartile for Poland Banks in Europe mBank Bank #1 by size Bank #4 by size 68% 64% 60% 17.8% 17.6% 16.4% Strategy of mBank Group 2026-2030 – Full speed ahead!5
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mBank’s strong fundamentals place it in an excellent position to deliver outstanding financial performance Source: ROE for the banking sector calculated based on monthly statistics published by the Polish Financial Supervision Autho rity (KNF). Largely reduced legal risk of FX mortgage loans evidenced by declining number of litigations Actively strengthened capital base providing space for future dynamic expansion High underlying profitability, strong revenue generation, excellent operating efficiency Number of CHF loan contracts at mBank as of 30.06.2025 Tier 1 capital ratio of mBank Group as of 30.06.2025 We have overcome the challenges that hindered the bank in the past 5 years Return on tangible equity (ROTE) of mBank Group vs. the average for H1/25 Total disbursed Active loans Reported Requirement mBank Group Top-8 banks (Ø) -88% +4.9p.p. 20.8% 20.4%14.0% 9.1%85,520 10,000 Strategy of mBank Group 2026-2030 – Full speed ahead!6
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What does "Full speed ahead!" mean for mBank? 02
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Market shares of over 10% in loans and deposits across both customer segments is one of our key strategic goals Source: mBank’s calculations based on MONREP statistics published by the National Bank of Poland (NBP). STRATEGIC GOAL 2015 2020 06/25 +1.4 p.p. 2015 2020 06/25 +2.8 p.p. 2015 2020 06/25 +0.8 p.p. 2015 2020 06/25 +0.9 p.p. 2015 2020 06/25 +0.2 p.p. 6.5% 7.9%7.4% 5.7% 8.5%7.8% 7.7% 8.4%7.9% 7.7% 8.6%8.5% 9.8% 10.0%9.4% Total loans Total deposits Total loans Total deposits Mortgage loans HOUSEHOLDS in Poland ENTERPRISES in Poland Market shares in key products ≥ 10% Market shares Market shares Strategy of mBank Group 2026-2030 – Full speed ahead!8
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Strong profitability and operating efficiency will be the backbone of our new capital return strategy 3 The final dividend ratio will depend on market and regulatory conditions as well as further developments in the bank's enviro nment 1 Compared to the level reported for 2024; 2 In the Polish sector Maintain leading position by cost/income ratio, remain among 3 most efficient banks2 Competitive ROTE over entire strategy horizon, ensuring long-term value for investors Return to dividend payments from net profit for 2026, intention to increase payout ratio to 75% in 2030 Cost/income ratio of mBank Group Return on tangible equity of mBank Group Dividend payout ratio3 of mBank Net profit of mBank Group is set to triple over the strategy horizon1 H1/25 2026-2030 30.9% ≤ 35% H1/25 2026-2030 2025 2026-2030 20.8% > 22% 0% 30-75% Strategy of mBank Group 2026-2030 – Full speed ahead!9
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Three pillars of mBank Group’s Strategy for 2026-2030 03
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Our purpose: Simplifying finances, helping bring goals to life. Strategy of mBank Group 2026-2030 – Full speed ahead!11
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mBank Group’s Strategy for 2026-2030 will be based on three pillars 1 3 Grow along with our customers, adapt our value proposition to their lifecycle and address the life stage they are currently in. Lifecycle-based growth Organisational excellence Sustainability goals are integrated into mBank’s business activity for better impact. mBank’s employees across entire Group are the engine making the growth possible. 2 Customer excellence Support our clients in their day-to-day life by simplifying their financial journeys and bring their goals to life. Continue to take care of our clients by using advanced technology and enable outstanding employees to deliver the best experience. Strategy of mBank Group 2026-2030 – Full speed ahead!12
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Lifecycle-based growth 1
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Cost/income ratio of mBank Group We will focus on fulfilling customer needs at every stage of life by providing long-term financial products to deepen relationships 1 Lifecycle-based growth 3 Organisational excellence2 Customer excellence Evolve beyond being an exceptional transactional bank Our clients profile Savings Digital mortgage loan Investments Digital retirement solutions Enhanced investment platform and supreme features to encourage regular investing (incl. ETF, fractional shares) Easy application AI-supported processes (decision, valuation etc.) for fast results and increased convenience Smart digital deposits that reward financial discipline Savings for a mortgage down-payment and other life milestones Proven track record of customer stickiness and loyalty, growing in all strategic age bands Share of clients >13 years 74% 50% 68% 46% 17% 20% 22% 23% 9% 30% 10% 31% mBank PL PL market mBank PL PL market <46 (46-59) 59+ 2024 2030 F Strategy of mBank Group 2026-2030 – Full speed ahead!14
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We will take care of financial planning and well-being of our customers comprehensively and encourage healthy financial habits 1 Lifecycle-based growth 3 Organisational excellence2 Customer excellence All finances in one place Financial health score based on 6 principles Digital features STRATEGIC GOAL More than 50% of financially healthy active clients in 2030, with dedicated products and services to be launched starting from 2026 1. Stay safe online 3. Build financial cushion 2. Spend less than earn 4. Keep loved ones safe 6. Invest for the future 5. Borrow responsibly AI powered tips Clear, structured plans for big financial milestones Personalized insights Strategy of mBank Group 2026-2030 – Full speed ahead!15
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We will appreciate our customers to further strengthen their loyalty and leverage these bonds to make them a primary acquisition source 1 Lifecycle-based growth 3 Organisational excellence2 Customer excellence Customer base with strong in- & outside networks 78% of our 35+ y.o. customers have a junior-age child 36% of affluent customers have a joint account with a partner 1.5 million of clients 35-50 y.o. will guide financial decisions of their parents soon ~50% of our customers have at least 5 friends Join and stay with mBank effortlessly STRATEGIC GOAL 4.1 million of active customers in Poland in 2030, up from 3.55 million at the end of 2024 Ecosystem banking Dedicated junior offer Effortless mobile onboarding and immediate account usage through top up Strategy of mBank Group 2026-2030 – Full speed ahead!16
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We will leverage a platform approach to accelerate growth in our foreign markets and benefit from internationally-developed innovation 1 Lifecycle-based growth 3 Organisational excellence2 Customer excellence Aligned platform development across all countries we operate More active customers means doubled business volumes … makes us ready for further foreign expansion, while enabling scalable innovation in current and future markets. Common strategic approach integrated with retail banking in Poland Expanded offering for affluent and small business clients Loans of mBank CZSK Deposits of mBank CZSK 2024 2030 PLN 9.2 B 2.2x 2024 2030 PLN 17.0 B 1.8x mBank’s operations in the Czech Republic and Slovakia will accelerate. Intensified customer acquisition as differentiation for foreign branches Dedicated student offer Innovative marketing targeted at young generation Delightful onboarding process based on BankID Leader in wearable payment devices Strategy of mBank Group 2026-2030 – Full speed ahead!17
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We have a proven track record of building and developing long-lasting relationships with our most valuable customers in two areas 1 Lifecycle-based growth 3 Organisational excellence2 Customer excellence Successfully growing the affluent segment 1 From start-up to high potential business client3 1 Affluent segment includes clients with assets at mBank exceeding PLN 100 thousand or monthly inflows over PLN 10 thousand 2 Affluent+ segment includes clients with assets at mBank exceeding PLN 300 thousand 3 Companies with an annual turnover of over PLN 1 million 73% have been with mBank for over 10 years Create strong ecosystems at mBank 36% have a partner 16% have a child who holds an account at mBank 31% of top affluent clients2 have also a business account 70% of our business clients are also individual clients The best start-up acquisition on the market (over 15% market share) The best start-up "survival rate" (94% vs market 59%) 71% of high-potential business clients3 have grown from the start-ups with mBank Strategy of mBank Group 2026-2030 – Full speed ahead!18
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Best-in-class value proposition for modern affluent clients 1 Lifecycle-based growth 3 Organisational excellence2 Customer excellence Gateway to Private Banking Daily banking excellence Including free global ATM, best FX, payment rings Best offer for key products Investment, brokerage, mortgage loans Citizens of the world: Top offer Including eSIM, card upgrade, flight protection, airport lounges Gateway to Private Banking Access to selected Private Banking products and a personal expert for Affluent+; fast track service STRATEGIC GOAL 1.4 million of active affluent clients in 2030, up from 980 thou. in 2024 Strategy of mBank Group 2026-2030 – Full speed ahead!19
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Best-in-class value proposition for high-potential small firms 1 Lifecycle-based growth 3 Organisational excellence2 Customer excellence Expanded financing and improved service level for evolving needs New service level Process digitization (including remote document submission, automatic data retrieval); new advisor profile and better coverage Extended credit offer Up to PLN 2 million, better risk assessment process New product offer with mLeasing Gateway to Corporate Banking Corporate service availability, including higher financing limit STRATEGIC GOAL 120 thou. of small companies with annual turnover over PLN 1 million in 2030, up from 73 thou. in 2024 Available in-app and via online banking Strategy of mBank Group 2026-2030 – Full speed ahead!20
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KEY ENABLERS 1 According to the current forecast of market growth We have ambitious yet sustainable growth aspirations to be delivered thanks to satisfied clients and organisational excellence 1 Lifecycle-based growth 3 Organisational excellence2 Customer excellence STRATEGIC GOAL >10% market share in loans to enterprises from 8.1% at the end of 2024 translates into a loan balance growth of ca. PLN 20 billion1 Motivated and highly- qualified employees The best unique-hybrid customer experience Investment and international banking development Long-term business growth Organisational excellence built on digital processes Strategy of mBank Group 2026-2030 – Full speed ahead!21 Focus on sustainable and transition finance and perspective industries
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KEY FEATURES Contact Centre Experienced product experts We will develop unique hybrid service model based on professional relations with corporate clients backed by technology 1 Lifecycle-based growth 3 Organisational excellence2 Customer excellence Virtual Branch: full-service banking 100% remote Self-service via digital channels Best expertise and advisory The best hybrid customer experience Organisational excellence built on digital processes Highly-qualified employees mBank CompanyNet mBank Company Mobile E2E DIGITAL PROCESSES Digital internal and sales processes Advanced solutions for business processes Strategy of mBank Group 2026-2030 – Full speed ahead!22
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Maximize growth potential by applying defined approach for each client segment We will pursue clear growth strategies towards all 3 corporate client segments and transform credit process to unlock the full potential 1 Lifecycle-based growth 3 Organisational excellence2 Customer excellence STRATEGIC GOAL Acquisition of new clients within growth streams Upselling and bigger tickets Leverage on structured finance Sustainable and transition finance Streamlined process for investment loans Fast track credit renewal Joint offer for financing within mBank Group Growing standardization and automation 40% of K3 clients financed in simplified credit process in 2030, up from 0% in 2024 Simplified process paths: Small tickets: standardized products, automatic credit decision, fully digital CX Mid-size tickets: quick approval, semi-automated process Stable assets growth in K1 segment Dynamic balance growth in K2 segment Double credit customers in K3 segment Strategy of mBank Group 2026-2030 – Full speed ahead!23
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We will continue corporate credit expansion based on the growth streams and lead in providing sustainable financing 1 Lifecycle-based growth 3 Organisational excellence2 Customer excellence Our strategy is to support the big shifts in the economy STRATEGIC GOAL We will offer sustainable, transition, and impact financing 15% of corporate credit portfolio allocated to sustainable finance in 2030, up from 11% in 2024 40% of corporate loan portfolio will be the growth streams-related financing in 2030, up from 20% in 2024 Strategy of mBank Group 2026-2030 – Full speed ahead!24 Green economy, closed loop and sharing economy Energy and technology transition Digitization and automation of processes Economic resilience and localisation of production Health and the leisure economy Defence
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We will strengthen our position in Poland and CEE to become the first-choice bank for private equity clients, with innovative financing and support for sustainable and transition projects. We will support trusted PE partners in their investments in CEE and clients in their M&A activity in CEE and DACH. We will cooperate with Commerzbank’s global network to: help mBank’s clients expand their businesses abroad boost business via Commerzbank–mBank initiative lead in Polish Treasury-bonds market be top Polish bank for DACH region clients We will expand our investment banking offer and build on cooperation with Commerzbank to deliver more cross-border value to our clients 1 Lifecycle-based growth 3 Organisational excellence2 Customer excellence Structured finance and private equity CEE/DACH private equity and family offices Cross-border growth with Commerzbank Strategy of mBank Group 2026-2030 – Full speed ahead!25
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Customer excellence 2
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We will provide delightful, seamless experience in mobile application to radically simplify day-to-day financial life of our customers 1 Lifecycle-based growth 3 Organisational excellence2 Customer excellence New mBank’s mobile application: Simple, intuitive and responsive with engaging modern look and feel STRATEGIC GOAL Top-3 rank by net promoter score (NPS) 4.8 rating of mobile application (within top 3) >90% customer effort score (CES) New application architecture with intuitive navigation Redesigned communication ecosystem Personalized dashboard ensuring quick access to the most frequently used functions New engaging video and graphic formats, micro-animations, motion design and haptics appealing to emotion Instant feedback to enhance sense of control Strategy of mBank Group 2026-2030 – Full speed ahead!27
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We will launch conversational banking and AI-powered assistant to satisfy preference of younger generations and enhance interactions 1 Lifecycle-based growth 3 Organisational excellence2 Customer excellence e.g. creating budget summary and predictions, shopping, analysing offers tailor made for the customer, assisting in daily banking and many more! Our assistant will help in Understanding the client's context Comprehensive service, complaints handling, offering comparison and spending overview executing over 200 unique actions also through voice Strategy of mBank Group 2026-2030 – Full speed ahead!28 AI AssistantAI Assistant AI Assistant
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mBank CompanyMobileapplication New FX, payment and cards modules BLIK payments Stronger security and improved accessibility mBank CompanyNet system Personalized workspace Streamlined payments and full liquidity control Expanded loan and FX modules Enhanced digital self-service via Virtual Branch We will deliver more personalized digital experience for corporate customers by revamping our mobile application and online banking 1 Lifecycle-based growth 3 Organisational excellence2 Customer excellence To create unified, hybrid service for corporate clients, we will enhance our contact channels Service tailored to real client needs, smooth, consistent digital experience across all channels and touchpoints STRATEGIC GOAL #3 minimum rank by net promoter score (NPS)1 80% of all client-bank processes and services initiated digitally in 20302 1 Compared to #3 at the end of 2024 2 Digitization of all client-bank processes and services, make them available under one platform (Single -Sign-On) in omnichannel universe (revamped mCN, mobile and API), up from 46% in 2024 Strategy of mBank Group 2026-2030 – Full speed ahead!29
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We will set new standard of availability for the clients by ensuring 24/7 banking to meet growing expectations for real-time access 1 Lifecycle-based growth 3 Organisational excellence2 Customer excellence Replatforming of core banking systems provides solid foundation for future developments Implement immediate, safe payments available 24/7/365 (as a first step: instant euro transfers) Ensure that updates and new features can be rolled out with minimal disruption for both retail and corporate customers Provide core services availability for corporate customers on 24/7 basis and extend other services to be available over weekends Strategy of mBank Group 2026-2030 – Full speed ahead!30
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We will reinforce our leadership in security through a comprehensive system protecting clients against cyber threats and frauds 1 Lifecycle-based growth 3 Organisational excellence2 Customer excellence Be a source of trust in a digital world AI-powered attack path visualization and signal aggregation Context-aware access control Ransomware resilience via behavioral analytics SOC automation with ML tools Always-on AI security protection Risk-based smart multifactor authentication One-click fraud reporting and account blocking Self-service account unblocking Clients: AI-driven security tips on emerging threats and social engineering techniques Employees: Building a human firewall through ongoing education Boosting cybersecurity Antifraud solutions Building awareness Strategy of mBank Group 2026-2030 – Full speed ahead!31
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Organisational excellence 3
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We will continue adoption of Gen AI solutions to streamline internal processes and elevate efficiency across the entire organization 1 Lifecycle-based growth 3 Organisational excellence2 Customer excellence Corporate client summaries leveraging internal and external data sources Post-analysis feedback after 100% conversations for retail advisors Targeted educational programs to empower employees for the GenAI era Readiness for compliance with the EU AI Act, establishing ethical and regulatory frameworks An intelligent assistant working with the data warehouse by enabling to ask questions in natural language Employee assistants tailored to specific business areas to enhance employee productivity Enterprise-wide smart search engine AI-powered tools supporting process automation, e.g. complaints handling Analytics on large-scale customer interactions to uncover insights, identify sales opportunities and improve customer service quality GenAI supporting back office Deep customer understanding Customer advisor support GenAI assistant for analysts GenAI for all Education and regulation Strategy of mBank Group 2026-2030 – Full speed ahead!33
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mBank’s unique culture founded by exceptionally committed employees will enable us to deliver the above-the-market growth 1 Lifecycle-based growth 3 Organisational excellence2 Customer excellence Generation of value for our customers starts in engagement of mBank’s teams Our people make the difference In interacting with our clients, finding solutions that align with their needs and goals and in presenting new ideas to improve our products, services, or workflows That is why we continuously invest in our employees Focus on constant employee development (trainings and similar activities) Creation of an ecosystem of skill-based development and introduction of a new enhanced leadership model Data usage to ensure competitive and transparent remuneration, employee well- being and best hybrid work environment Resulting in our unique culture with highly engaged teams Low fluctuation along with strong brand enables retaining and selecting top talents in the market Combines crucial aspects as focus on development, trust, good intensions and innovativeness Ambidextrous leaders enhance their teams in achieving the results 2021 2022 2023 2024 49% 58% 68% 68% 20,000 Future Skills learning initiatives attended in mBank’s academy in last 4 years 1 vs. Top quartile for Poland = 64% and Banks in Europe = 60% in 2024 mBank is among the best Polish employers, with a high engagement score of 68%1 Strategy of mBank Group 2026-2030 – Full speed ahead!34
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With the continued focus on culture, best talent and digital HR, we will bring our business goals to life and ensure a skilled, engaged workforce 1 Lifecycle-based growth 3 Organisational excellence2 Customer excellence mBank to be the best place to work Further developing culture and employee value proposition (EVP) Having top leaders in the market Acquiring high quality candidates who fit our team mKULTURA Performance enablement process Skills as competitive edge of our employees Great employee experience (competitive and transparent pay, inclusive and belonging environment, responsible hybrid) BEST TALENT Digital working space Strong analytical data-driven HR AI incorporated into internal HR processes DIGITAL HR to attract and retain the best people on the market and create an environment that fuels innovativeness and growth to succeed in the increasing challenging demographical environment and the competition for talent to increase speed and efficiency in servicing our employees and in attracting and securing talents Strategy of mBank Group 2026-2030 – Full speed ahead!35
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Financial perspective and targets 04
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Loan volumes of mBank Group will be growing faster than the market in both business segments PLN billion PLN billion STRATEGIC GOAL Dynamic volume growth ≥ 10% market share in key products in 2030 >70% 74.1 +12% Mortgage loans Other retail loans CAGR CAGR 62.4 +5% +7%CAGR CAGR 65% Development of retail loans Development of corporate loans 2024 2026 2030 06/25 2026 203006/25 2024 Financing of high-potential sectors including energy and green transition, digitisation, and defence Mortgage lending supported by favourable demographic profile of mBank’s clients and effortless digital process 70.6 54.3 +10%+5% +15% Strategy of mBank Group 2026-2030 – Full speed ahead!37
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Deposit volumes of mBank Group will be growing faster than the market in both business segments PLN billion PLN billion 2024 2026 >85% 2030 148.5 Current and saving accounts Retail term deposits CAGR CAGR 06/25 2026 2030 56.3 +12% +4% CAGR 83% 06/25 2024 Development of retail deposits Development of corporate deposits STRATEGIC GOAL Dynamic volume growth ≥ 10% market share in key products in 2030 Leading transactional banking solutions encouraging inflows from corporate clients Current and saving accounts backed by client acquisition and retention as well as initiatives that promote building financial buffers 142.2 57.7 +11%+4% -2% CAGR Strategy of mBank Group 2026-2030 – Full speed ahead!38 +10%
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Upward revenue trajectory and proven cost management discipline will assure mBank’s market-leading efficiency to continue Development of total revenues Development of total costs PLN billion PLN billion 2025F 2026 2030 12.2 +2% +7.4% 2025F 2026 2030 3.9 +11% +4.7%YoY CAGR YoY CAGR STRATEGIC GOAL Excellent operating efficiency ≤ 35% cost/income ratio in 2026-2030 and in top-3 among Polish banks Staff expenses to remain the main part, increased amortisation expected mainly due to IT investments Despite interest rate cuts by 175 bps between the beginning of 2025 and the end of 2026 Strategy of mBank Group 2026-2030 – Full speed ahead!39 +7-8% +2% +11% +4-5%
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Approach to risk management is aligned to support strategic growth aspirations while maintaining the current risk appetite Risk management excellence STRATEGIC GOAL Active risk management ~0.8% cost of risk in 2026-2030 We intend to pursue balanced growth anchored in a resilient and efficient business model, without increasing risk appetite. ResilienceIntelligent Growth Efficiency Capital and liquidity position reinforced by an integrated view on cross-risks Focus on proactive adaptation to the evolving regulatory landscape Strengthening non-financial risk management framework Forward-looking approach to creating loan portfolios, with focus on: financing internal clients in the retail segment developing expertise in strategic growth streams in the corporate area Automated and AI-driven credit processes in the retail and corporate area ready for business growth Transformation of risk architecture towards simplified systems and processes Strategy of mBank Group 2026-2030 – Full speed ahead!40
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Development of net profit and dividend potential (PLN billion) mBank’s capital return strategy will constitute a compelling investment case Dividend to almost quadruple in the strategy horizon vs. 2026 level 1 The final dividend ratio will depend on market and regulatory conditions as well as further developments in the bank's environment 2024 30% 2026 2.2 Retained profit Dividend payout 0% 3.0x STRATEGIC GOAL High profitability > 22% return on tangible equity (ROTE) in 2026-2030 Regular dividend payments gradually increase payout ratio1: from 30% (2026) to 75% (2030) Dividend policy to balance: Profitable business growth, capital strength, and satisfying ROTE. 75% 2030 Environment shift The operating and regulatory environment will be shifting towards: Higher capital requirements Required minimum for Tier 1 capital ratio (mBank) 9.1% 06/25 11.1% 2026 Strategy of mBank Group 2026-2030 – Full speed ahead!41
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mBank’s further development of a fortress balance sheet will add to that compelling investment case Transactions to further fortify the balance sheet 1 Including bonds issued in non-preferred senior (NPS) and preferred senior (PS) format Capital Markets Transactions (nominal value, PLN billion) 2020-2025 2026-2030 12.6 Tier 2 instruments Non-preferred senior bonds Preferred senior bonds Covered bonds >2x AT1 capital bonds STRATEGIC GOAL Strong capital position CET 1 capital ratio min. 2.5 p.p. above the regulatory requirement in 2026-2030 Active issuer of capital and debt instruments1 along with securitizations. mBank Hipoteczny will intensify covered bonds issuances as funding source for mortgage loans. Environment shift The operating and regulatory environment will be shifting towards: New funding requirements Long-term Funding Ratio (WFD) 06/25 40% 2026 0% Strategy of mBank Group 2026-2030 – Full speed ahead!42
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Strategic financial targets of mBank Group for 2026-2030 Excellent operating efficiency Cost/income ratio ≤ 35% Strong capital position CET 1 capital ratio minimum 2.5 p.p. above the regulatory requirement High profitability Return on tangible equity (ROTE) > 22% Active risk management Cost of risk ~0.8% Regular dividend payment Dividend payout ratio 30-75% Dynamic volume growth Market shares in key products ≥ 10% and be in top-3 among Polish banks Might be lower, if increased taxation of banks is implemented Might be lower, if increased taxation of banks is implemented Strategy of mBank Group 2026-2030 – Full speed ahead!43
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We recognize our key role in financing the shift toward a more competitive, independent and resilient economy Our sustainability targets for 2026-2030 Developing a resilient business model alongside credible transition plan Net-zero commitment Maintain our ambition to achieve net-zero in scope 1 and 2 by 2040 and in scope 3 by 2050 Scope 1 and 2 Reduce absolute scope 1 and 2 GHG emissions 42% by 2030 vs 2022 level Scope 3 In 2025, we will launch and implement transition plan aimed at reducing portfolio emissions (including AuM) Financing change and unlocking economic potential Retail portfolio Double the volume of energy efficient (taxonomy-aligned) mortgage loan sales vs 2024 level Corporate portfolio Allocate 15% of corporate loans engagement to sustainable, transition, and impact finance Finance health Increase the share of financially healthy active customers to 50% Shaping a workplace for everyone Pay Gap Work towards eliminating the pay gap with a maximum acceptable limit of 2.5% Adjusted Pay Gap Gender balance Ensure 40-60% gender distribution for managerial positions Increase gender balance in the senior bodies of mBank’s subsidiaries to achieve 40-60% representation Inclusive by design Climate action Economic momentum Strategy of mBank Group 2026-2030 – Full speed ahead!44
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Appendix
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Operating environment of mBank provides good growth prospects Strengths of Poland and local banking sector Sizable, resilient economy on the continuous growth trajectory (6th in the European Union) Well-educated labour force with entrepreneurial spirit to remain Poland’s competitive advantage Efficient and adaptive operating model of local banks Inflow of EU funds, public investments and transition projects to further stimulate development Healthy, profitable, well-capitalised banking sector Local players at the fore-front of financial innovations and digitalisation Strategy of mBank Group 2026-2030 – Full speed ahead!46
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Some market trends may affect the business activity of mBank Group Main challenges for Polish banks Regulatory and fiscal burdens, instability of the operating conditions Fast-evolving technology, cyber risks and threats of data leaks High uncertainty, geopolitical risks and market turbulences Strong customer-centric regulations Increasingly competitive banking landscape in Poland Demographic changes and ageing of the society Strategy of mBank Group 2026-2030 – Full speed ahead!47
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Macroeconomic and market assumptions for strategic planning Key economic indicators for Poland Source: mBank’s Chief Economist, assumptions for multi -year planning. Volume dynamics (YoY) for the Polish banking sector 2024 2025F 2026F 2027F 2028F GDP growth (YoY) 2.9% 3.8% 3.7% 3.6% 3.8% Inflation (average CPI) 3.7% 3.9% 2.6% 2.5% 2.5% MPC reference rate (eop) 5.75% 4.75% 4.00% 4.00% 4.00% EUR/PLN (eop) 4.28 4.28 4.40 4.40 4.40 CHF/PLN (eop) 4.55 4.44 4.52 4.52 4.52 2024 2025F 2026F 2027F 2028F Corporate loans 4.9% 4.9% 5.8% 3.5% 3.3% Household loans 2.9% 2.8% 4.3% 4.5% 4.9% Mortgage loans 2.9% 1.2% 4.0% 5.2% 6.3% Non-mortgage loans 2.8% 5.6% 5.0% 3.3% 2.4% Corporate deposits 3.9% 7.9% 7.1% 4.1% 4.1% Household deposits 9.9% 8.2% 7.7% 7.5% 7.5% Strategy of mBank Group 2026-2030 – Full speed ahead!48
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Glossary Strategy of mBank Group 2026-2030 – Full speed ahead! Active customer (Retail Banking) – an individual customer (aged 13+) with a product in force, or a customer who has received a transfer / initiated a financial transaction in the past 6 months, or whose total assets with mBank are above PLN 10 thousand. Adjusted Pay Gap (APG) – pay gap calculated at the level of mBank S.A., in accordance with the simplified Guidelines of the European Banking Authority (EBA) on benchmarking remuneration practices, gender pay gap, and approved higher ratios of variable to fixed remuneration components based on Directive 2013/36/EU. Affluent segment – clients with assets at mBank exceeding PLN 100 thousand or monthly inflows over PLN 10 thousand; assets relate to cash balances held at mBank as deposit on any form of account (current accounts, saving accounts and term deposit products in both PLN and FX) and investment products, including in particular investment funds and balances on IKE/IKZE accounts. Affluent+ segment – clients with assets at mBank exceeding PLN 300 thousand. Employee Value Proposition (EVP) – a unique set of benefits, values, and experiences that an employer offers to employees in exchange for their work and commitment, aimed at attracting and retaining the best talent in the job market. Financial health score – mBank’s internal tool to measure secure and conscious financial behaviors. A financially healthy client at mBank meets at least 3 out of 6 financial health principles based on expert consultations (e.g. UNEP FI), customer data insights, customer research and demographic studies: (1) Stay safe online – follows digital security recommendations, (2) Spend less than you earn – maintains a positive budget balance, (3) Build a financial cushion – has savings equivalent to at least 6 months of income, (4) Keep loved ones safe – uses insurance and ensures access to funds for trusted individuals, (5) Borrow responsibly – uses credit wisely and manages repayments without delays, (6) Invest for the future – engages in long-term financial planning and investment. 49 Gartners Customer Effort Score (CES) – a metric that measures how easy it is for customers to perform banking activities, calculated as the percentage of customers who respond with a 4 or 5 (on a 1–5 scale) to a single survey question about how easy mBank made the resolution process. High-potential business clients – companies with an annual turnover of over PLN 1 million served within mBank’s Retail Banking. K1 segment – large enterprises with annual sales exceeding PLN 1 billion and non-banking financial institutions (Corporate Banking) K2 segment – mid-size enterprises with annual sales of PLN 50 million – PLN 1 billion (Corporate Banking) K3 segment – small enterprises with annual sales below PLN 50 million and full accounting (Corporate Banking) mBank CompanyNet (mCN) – internet banking system for mBank’s corporate clients. mBank CompanyMobile (mCM) – mobile banking application for mBank’s corporate clients. Net Promoter Score (NPS) – a customer loyalty metric used by banks to measure how likely clients are to recommend the bank’s services to others, calculated by subtracting the percentage of detractors from the percentage of promoters based on responses to the question: “How likely are you to recommend our bank?” Return on Tangible Equity (ROTE) – calculated by dividing net profit/loss attributable to owners of the Bank deducted by the coupon on AT1 bonds by the average tangible equity, which is total equity deducted by planned dividend for the current year, intangible assets (including goodwill) and by AT1 instruments.
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Disclaimer Strategy of mBank Group 2026-2030 – Full speed ahead! This presentation is solely for information purposes and is published only to provide information regarding the adoption of the mBank Group’s Strategy for 2026-2030. The Bank emphasizes that the above assumptions and strategic goals do not constitute a forecast or estimate of results, including financial ones, and are only information on the planned areas of the Bank's activities and potential directions of development for 2026-2030. Publishing this information does not constitute an offer to sell or a an inducement of purchase or acquisition of any securities in any jurisdiction whatsoever, or an advertisement within the meaning of Article 53 section 1 of Polish Act of 29 July 2005 on Public Offering, Conditions Governing the Introduction of Financial Instruments to Organised Trading, and Public Companies, as amended, and is by no means intended to promote the purchase or acquisition of any securities or to induce their purchase or acquisition. Certain statements contained herein may constitute forward-looking statements. Forward-looking statements involve a number of known and unknown risks, uncertainties and other factors that could cause the Bank’s actual results, achievements or development to be materially different from any future results, achievements or development expressed or implied by such forward-looking statements, for which the Bank shall not be liable. Each potential investor should make his own analysis and assess the merits of the investment, taking into account all relevant circumstances. 50
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Contact details Karol Prażmo Managing Director for Treasury and Investor Relations +48 607 424 464 karol.prazmo@mbank.pl mBank’s Investor Relations at your service investor.relations@mbank.pl Investor Relations website www.mbank.pl/en/investor-relations Joanna Filipkowska Head of Investor Relations +48 510 029 766 joanna.filipkowska@mbank.pl Paweł Lipiński +48 508 468 023 pawel.lipinski@mbank.pl Marta Polańska +48 508 468 016 marta.polanska@mbank.pl