Slides
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Results of mBank Group Q2 2026 Presentation for the market, 29.07.2026 Highest-ever net profit amid strong business expansion
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Key financial and business highlights in H1 2026 Overview of the results development in Q2 2026 Update on Poland’s macroeconomic situation and outlook Appendix 01 02 03 04 Agenda
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Key financial and business highlights in H1 2026 01
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mBank Group continued improving its market position in Q2 2026 4 mBank Group’s market shares in strategic product categories in Poland Source: mBank’s calculations based on MONREP statistics published by the National Bank of Poland (NBP). STRATEGIC GOAL by 2030 market shares in key products ≥ 10% HOUSEHOLDS total loans HOUSEHOLDS total deposits HOUSEHOLDS total mortgage loans ENTERPRISES total loans ENTERPRISES total deposits 7.9% 06/25 8.0% 09/25 8.0% 12/25 8.1% 03/26 8.3% 06/26 8.5% 06/25 8.5% 09/25 8.6% 12/25 8.7% 03/26 8.8% 06/26 8.4% 06/25 8.6% 09/25 8.7% 12/25 8.8% 03/26 9.1% 06/26 8.6% 06/25 8.6% 09/25 12/25 8.3% 03/26 8.7% 06/26 10.0% 06/25 10.3% 09/25 10.3% 12/25 10.5% 03/26 10.7% 06/26 8.1% Investor Presentation | Q2 2026
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5Investor Presentation | Q2 2026 High profitability Return on tangible equity (ROTE) Excellent operating efficiency Cost/income ratio (normalized) Active risk management Cost of risk Strong capital position Surplus over CET1 capital requirement mBank remains well on track to meet its strategic financial targets Execution of mBank Group’s strategic financial KPIs after H1 2026 H1 2026 target 21.2% >22% H1 2026 target 31.8% ≤35% H1 2026 target 0.37% ~0.8% H1 2026 target 4.1 p.p. >2.5 p.p. lower due to increased CIT rate for banks
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6Investor Presentation | Q2 2026 Key highlights of mBank Group after H1 2026 Dynamic expansion of credit portfolio accompanied by a surge of deposits ▪ Acceleration of lending activity in both business segments ▪ Credit growth at above-the-sector level translating into gains of market shares ▪ Development of retail portfolio fuelled by double-digit pace of mortgage loans ▪ Corporate financing supported by digital processes and deep industry expertise ▪ Continued high dynamic of deposit inflows to current and saving accounts Gross loans of mBank Group PLN billion Deposit base of mBank Group PLN billion 30.06.2025 30.06.2026 136.7 154.3 +12.9%+12.9% 30.06.2025 30.06.2026 205.7 248.5 +20.8%+20.8%
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7Investor Presentation | Q2 2026 Key highlights of mBank Group after H1 2026 Constantly in the forefront of financial innovations to enhance client experience A pilot of AI Assistant for selected mBank’s clients mBank with the first transaction initiated by an AI agent As part of the European Visa Agentic Ready program, mBank completed the first purchase transaction initiated in an online store by an AI agent on behalf of a cardholder. The transaction was carried out in a real sales environment, using the existing payment infrastructure. The test supports development of future payment methods by mBank. mBank launched a pilot of AI mAssistant, its first AI-powered solution available to customers. Built around the concept of conversational banking, it enables clients to interact with the bank using natural language through a native experience embedded directly in mBank’s mobile application. Combining context-aware search and dialogue-based interactions, the solution supports customer self-service. mAssistant AI I'm an AI -powered customer assistant. Choose a topic or enter what you're looking for.
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8Investor Presentation | Q2 2026 Key highlights of mBank Group after H1 2026 Strong improvement of profit thanks to significant reduction of legal risk costs ▪ Record-high gross profit and net result despite challenging market conditions ▪ Stable revenues with an increase of fee and other income offsetting a fall of net interest income ▪ Strong operating results backed by excellent efficiency and lower cost of risk ▪ Higher income tax burden due to the rise of CIT rate for banks in Poland compensated by a decline of legal risk provisions related to FX mortgage portfolio Total revenues of mBank Group PLN million Net profit of mBank Group PLN million H1 2025 H1 2026 6,227 6,221 -0.1%-0.1% H1 2025 H1 2026 1,665 2,013 +20.9%+20.9% 5.60% 3.84% average NBP reference rate average NBP reference rate
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9Investor Presentation | Q2 2026 Key highlights of mBank Group after H1 2026 Comfortable surpluses over regulatory minima enabling unconstrained growth ▪ Inclusion of full net profit for 2025 and a part of earnings for Q1 2026 strengthened the own funds ▪ Solid capital buffers allowing for a dynamic business development ▪ On track to resume a dividend payment in line with the strategic assumptions, considering the latest criteria communicated by the Polish FSA ▪ Successful issuance of green Senior Non-Preferred bonds in the amount of EUR 750 million added to MREL-eligible funding Tier 1 capital ratio of mBank Group vs. the requirement MRELTREA ratio of mBank Group vs. the requirement minimum 30.06.2026 10.0% 13.6% +3.6+3.6 p.p. minimum 30.06.2026 19.4% 23.7% +4.3+4.3 p.p.
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mBank has consistently executed its strategic priorities 10Investor Presentation | Q2 2026 Total assets of mBank Group exceeded PLN 300 billion Number of mBank’s clients crossed 6 million mBank Group’s key milestones on its growth path Revival of business volumes and market shares on upward trajectory Superior financial performance driven by high profitability of core operations Effective management of CHF portfolio and reduction of exposure, risk and legal costs Strengthening of the capital position in order to pave the way for growth
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Overview of the results development in Q2 2026 02
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H1/25 net profit -181 net interest income +60 net fee and commis- sion income +115 net trading and other income -197 total costs +55 loan loss provisions and FV change +1,008 legal risk costs related to FX loans -61 banking tax -451 income tax H1/26 net profit 1,665 2,013 23.3% 19.9% Q2/25 18.9% 16.4% Q3/25 22.6% 19.5% Q4/25 20.5% 17.5% Q1/26 21.9% 18.4% Q2/26 Results of mBank Group in H1 2026 – Net result and profitability 12 Strong financial performance confirmed by record net profit despite elevated fiscal burdens mBank Group’s net profit and main drivers of its development PLN million Profitability ratios of mBank Group quarterly data Return on equity (ROE) Return on tangible equity (ROTE) The financial results in 2026 are significantly affected by high fiscal charges, including increased CIT rate and no reduction in the banking tax. It was a result of the bill, imposing new rates of Corporate Income Tax (CIT) for banks in Poland at the level of 30% in 2026, 26% in 2027 and 23% from 2028 onwards, up from 19% in 2025. Pressure on net interest income from rate cuts offset by rising net fees and other income Decline of created legal provisions thanks to rising number of settlements and closed court cases An increase of contribution to the resolution fund due to the changed structure of payment to the BFG and raised personnel expense Higher tax burdens following the rise of CIT rate for banks starting from 2026 Investor Presentation | Q2 2026 20.8% 21.2% ROTE ROTE
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Key highlights of mBank Group in Q2 2026 13 Investor Presentation | Q2 2026 Further acceleration of business volume growth Excellent financial results and record profit Adequate regulatory buffers and resilient balance sheet ▪ a dynamic increase of gross loans by 6% QoQ and 13% YoY to PLN 154 billion, thanks to record sales in the retail segment, contributing to the expansion of mortgage portfolio by 18% YoY, and a strong momentum of corporate financing ▪ a surge of deposits by 5% QoQ and 21% YoY to PLN 248 billion, fuelled by steady inflows to current and savings accounts ▪ positive trend in market shares, with a gain to 8.3% (+0.4 p.p. YoY) in household loans and 8.7% (+0.1 p.p. YoY) in enterprises loans as well as the best-ever level of 8.8% in retail deposits ▪ the highest quarterly net result in history at PLN 1,060 million, translating into superior return on tangible equity (ROTE) of 21.9% ▪ significant reduction of legal risk costs related to FX mortgage loans by 77% to PLN 124 million ▪ an uptick of total revenues by 1% QoQ to PLN 3.1 billion, driven primarily by rebounding net interest income, despite a slight decline of margin ▪ industry-leading cost/income ratio at 32.7% (normalized), although operating expenses (excluding contribution to the BFG) grew by 8% YoY ▪ comfortable capital surplus over the regulatory minima at 4.1 p.p. for CET1 ratio supported by a partial retention of the profit for the current year ▪ MRELTREA ratio at 23.7% safely above the requirement backed by diversified funding profile, strengthened by the fifth issuance of green bonds ▪ good asset quality evidenced by a decrease of NPL ratio to 3.1% and a low cost of risk at 37 bps, reflecting overall robust payment discipline of the borrowers and prudent management of the portfolio including disposals of impaired receivables
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Summary of financial results in Q2 2026: Profit and Loss Account 14 1 Sum of ‘Impairment on financial assets not measured at fair value through profit or loss’ and ‘Gains or losses on non -trading financial assets mandatorily at fair value through profit or loss’ related to loans PLN million Q2 2025 Q1 2026 Q2 2026 ∆ QoQ ∆ YoY Net interest income 2,555 2,391 2,453 +2.6% -4.0% Net fee and commission income 582 576 569 -1.2% -2.2% Net trading and other income 59 127 105 -17.3% +78.0% Total income 3,196 3,094 3,127 +1.1% -2.2% Total costs (excl. compulsory contributions) -878 -880 -950 +8.0% +8.2% Contributions to the BFG -23 -294 0 -100% -100% Loan loss provisions and fair value change1 -129 -104 -136 +30.8% +5.4% Costs of legal risk related to FX loans -543 -73 -124 +69.9% -77.2% Operating result 1,623 1,743 1,917 +10.0% +18.1% Taxes on the Group balance sheet items -191 -215 -224 +4.2% +17.3% Profit before income tax 1,432 1,528 1,693 +10.8% +18.2% Net profit 959 953 1,060 +11.2% +10.5% Net interest margin 4.22% 3.52% 3.47% -0.05pp -0.75pp Cost/Income ratio 28.2% 37.9% 30.4% -7.5pp +2.2pp Cost of risk 0.40% 0.30% 0.37% +0.07pp -0.03pp Return on equity (ROE) 19.9% 17.5% 18.4% +0.9pp -1.5pp Return on tangible equity (ROTE) 23.3% 20.5% 21.9% +1.4pp -1.4pp Investor Presentation | Q2 2026
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PLN million 30.06.2025 31.03.2026 30.06.2026 ∆ QoQ ∆ YoY Total assets 256,176 290,547 304,402 +4.8% +18.8% Gross loans to customers 136,675 145,663 154,340 +6.0% +12.9% Individual client loans 74,119 80,744 84,721 +4.9% +14.3% Corporate client loans 1 57,904 59,715 63,581 +6.5% +9.8% Customer deposits 205,724 237,097 248,487 +4.8% +20.8% Individual client deposits 148,458 171,233 178,260 +4.1% +20.1% Corporate client deposits 2 54,863 62,895 65,766 +4.6% +19.9% Total equity 19,513 22,329 23,360 +4.6% +19.7% Loan-to-deposit ratio 64.7% 60.0% 60.7% +0.7pp -4.0pp NPL ratio 3.5% 3.4% 3.1% -0.3pp -0.4pp Coverage ratio (including stage 1 & 2) 74.4% 71.6% 74.4% +2.8pp 0.0pp Tier 1 Capital Ratio 14.9% 14.7% 13.6% -1.1pp -1.3pp Total Capital Ratio 15.9% 16.5% 15.3% -1.2pp -0.6pp Summary of financial results in Q2 2026: Balance Sheet 15 3 3 1 Excluding reverse repo or buy/sell back transactions; 2 Excluding repo or sell/buy back transactions 3 Capital ratios recalculated taking into account the retrospective inclusion of the net profit in own funds (after the approval of Polish FSA) Investor Presentation | Q2 2026
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912563 5,603 H1/25 1,503 9,223 H1/26 591 3,958 Q1/26 5,264 Q2/26 6,167 10,726 4,550 6,176 +74% +36% Results of mBank Group in Q2 2026 – New lending business 16 Record sales of mortgage and consumer loans, along with corporate credit uptick Sales of mortgage loans PLN million Sales of non-mortgage loans Sales of corporate loans1 PLN million PLN million mBank PL mBank CZSK mBank PL mBank CZSK by segment: K1 K2 K3 1 including: new agreements, increases in volume, and renewal of existing loans 5,683 15,566 2,203 H1/25 7,495 17,056 2,707 H1/26 2,352 8,448 Q1/26 5,143 8,608 1,656 Q2/26 23,452 27,259 11,852 15,406 +16% +30% 621 657 1,405 5,508 H1/25 1,278 6,653 H1/26 3,109 Q1/26 3,544 Q2/26 6,913 7,931 3,731 4,201 +15% +13% Investor Presentation | Q2 2026 1,052
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Results of mBank Group in Q2 2026 – Loans to customers 17 Strong growth of loan portfolio driven by mortgage and corporate exposure acceleration Development of mBank Group’s gross loans PLN million 135 62,751 26,594 50,266 09/25 124 58,121 26,745 51,782 12/25 158 64,761 27,289 150 03/26 160 69,459 28,268 56,453 06/26 62,407 26,144 47,976 06/25 136,677 139,746 136,772 145,663 154,340 53,455 +12.9% +6.0% 72,554 75,493 77,285 79,571 83,644 +1.0% +3.6% ∆ YoY +7.3% +5.6% Mortgage loans to individuals Other retail loans Loans to corporate clients Loans to public sector +5.1% ∆ QoQ +7.3% +8.1% +11.3% +17.7% +15.3% Market shares in loans 30.06.2026, in Poland HOUSEHOLDS total loans 8.3% (+0.4 p.p. YoY) HOUSEHOLDS PLN mortgage loans 9.3% (+0.8 p.p. YoY) HOUSEHOLDS non-mortgage loans 6.9% (0.0 p.p. YoY) ENTERPRISES total loans 8.7% (+0.1 p.p. YoY)Gross loans to retail customers, excluding non-core portfolio Investor Presentation | Q2 2026
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Results of mBank Group in Q2 2026 – Customer deposits 18 Dynamic expansion of deposit base fuelled by steady inflows to current and saving accounts Development of mBank Group’s deposits PLN million 1,511 58,972 24,502 128,977 09/25 1,108 63,225 23,716 141,096 12/25 1,630 64,234 23,290 937 03/26 2,990 67,237 22,998 155,262 06/26 56,329 24,313 124,144 06/25 205,724 213,962 229,145 237,097 248,487 147,943 +20.8% +4.8% 14,168 15,437 16,125 16,757 Market shares in deposits 30.06.2026, in Poland 18,334 +83.5% -1.3% ∆ YoY +4.7% +4.9% ∆ QoQ +219% -5.4% +19.4% +25.1% Retail current and saving accounts Retail term deposits Deposits from corporate clients Deposits from public sector Investment funds distributed to customers via mBank's solutions of which PLN 5.9 billion managed by mTFI HOUSEHOLDS total deposits 8.8% (+0.3 p.p. YoY) HOUSEHOLDS current deposits 10.1% (+0.4 p.p. YoY) ENTERPRISES total deposits 10.7% (+0.7 p.p. YoY) ENTERPRISES current deposits 13.1% (+0.2 p.p. YoY) Investor Presentation | Q2 2026
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Net fee and commission income in Q2/25 was uplifted by an upfront income from new contracts signed with UNIQA of PLN 43 million. 59582 2,555 Q2/25 127576 2,391 Q1/26 105569 117 Q2/26 1,085 5,025 H1/25 232 1,145 4,844 H1/26 6,227 6,221 3,196 3,094 3,127 2,453 -0.1% -2.2% +1.1% Results of mBank Group in Q2 2026 – Total income and margin 19 Net interest income returned to upward trend, net fees and other result remained robust mBank Group’s total income PLN million Net interest margin of mBank Group Net interest income Net fee and commission income Net trading and other income mBank Group 4.22% Q2/25 3.97% Q3/25 3.74% Q4/25 3.52% Q1/26 3.47% Q2/26 reference rate in Poland: -200 bps in 10 months from 5.75% kept until 07.05.2025 to 3.75% after latest cut on 05.03.2026 mBank Group quarterly data ∆ QoQ ∆ YoY -17.3% -1.2% +2.6% +78.0% -2.2% -4.0% Investor Presentation | Q2 2026 ∆ YoY +98.3% +5.5% -3.6% Path of reference rate in Poland 03/25 06/25 09/25 12/25 03/26 06/26 5.75% 3.75%4.00% 5.25% 5.00% 4.50% 4.75% 4.25% Other income in Q2/26 included a dividend from Polski Standard Płatności (the operator of the BLIK system) of PLN 40 million. 4.25% 3.49% net margin +9.9% +5.6% w/o UNIQA +X.X%
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Results of mBank Group in Q2 2026 – Total costs and efficiency 20 Best-in-class cost/income ratio maintained despite continued investments in the franchise mBank Group’s operating costs Cost/Income ratio of mBank Group Personnel costs Amortization Material costs Other costs Contributions to the Bank Guarantee Fund (in 2026 to the Resolution Fund only, in 2025 also to Deposit Guarantee Scheme) PLN million quarterly data reported normalizedreported normalized (with linear BFG) 28.2% 29.6% Q2/25 29.2% 30.7% Q3/25 33.1% 34.6% Q4/25 37.9% 30.8% Q1/26 30.4% 32.7% Q2/26 ∆ QoQ ∆ YoY 323 37 512 958 H1/26 23170 17 257 434 Q2/25 294 157 20232 868 Q1/26 166 17 280 487 Q2/26 19147 313 34 474 H1/25 294 471 2,124 901 1,174 950 1,927 +10.2% +5.4% -19.1% excluding contributions+X.X% +8.3% +8.2% Employment at mBank Group number of FTEs, end-of-period data 7,696 06/25 7,756 09/25 7,799 12/25 7,851 03/26 7,898 06/26 +203 +47 Investor Presentation | Q2 2026 ∆ YoY +23.5% +2.9% +8.0% +10.4% +7.9% +5.4% +20.0% +3.7% -2.4% +8.7% +12.5% 29.4% 31.8% C/I ratio normalized
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35 7 87 Q2/25 153 87 Q1/26 47 6 106 Q2/26 9 181 H1/25 62 9 170 H1/26 295 240 129 104 136 83 -19% +4% +29% 0.40% Q2/25 0.61% Q3/25 0.77% Q4/25 0.30% Q1/26 0.37% Q2/26 Results of mBank Group in Q2 2026 – Credit losses and cost of risk 21 Low cost of risk reflecting isolated corporate defaults and resilient retail repayment discipline mBank Group’s net impairment losses and fair value change on loans PLN million Cost of risk of mBank Group quarterly data mBank GroupmBank Group retail corporateX.XX% X.XX% Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 0.24% 0.69% 0.97% 0.09% 0.29% 0.53% 0.55% 0.61% 0.47% 0.43% Retail Banking: at amortized cost at fair value Corporate & Investment Banking: at amortized cost at fair value Dynamics for the segments including combined provisions for loans in both valuation methods -1 -1 0 -1 0 ∆ QoQ +236% -3.2% ∆ YoY +34.4% -7.1% Cost of risk by business segment quarterly data Investor Presentation | Q2 2026 ∆ YoY -41.7% -5.9% 0.46% 0.34% cost of risk
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22 Results of mBank Group in Q2 2026 – Loan portfolio quality Good asset quality confirmed by risk metrics, NPL ratio supported by sale of impaired loans mBank Group’s impaired loans portfolio mBank Group’s NPL ratio PLN million provisions for stage 3 & POCI including provisions for stage 1 & 2 52.3% 06/25 51.5% 09/25 53.4% 12/25 47.6% 03/26 49.9% 06/26 74.4% 74.6% 77.6% 71.6% 74.4% 1.11% 06/25 1.07% 09/25 1.09% 12/25 1.04% 03/26 0.99% 06/26 granted to private individuals mBank Group’s coverage ratio NPL ratio of mortgage loan portfolio in PLN at amortized cost at fair value through profit and loss 80 4,722 06/25 78 4,616 09/25 62 4,578 12/25 56 4,926 03/26 52 4,795 06/26 4,801 4,694 4,641 4,982 4,847 +1.0% -2.7% mBank Group’s NPL ratio, by segment NPL ratio according to EBA definition has remained considerably below 5% 3.5% 06/25 3.4% 09/25 3.4% 12/25 3.4% 03/26 3.1% 06/26 3.8% 3.5% 06/25 3.7% 3.3% 09/25 3.8% 3.1% 12/25 4.3% 2.9% 03/26 3.8% 2.9% 06/26 Corporate portfolio Retail portfolio Corporate portfolio Retail portfolio Note: Risk indicators presented for credit portfolio measured both at amortized cost and at fair value through profit or loss. Data as of 31.12.2025 restated due to exclusion of identified non -default exposures from the POCI category in the calculation of loan quality metrics. Investor Presentation | Q2 2026
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30.06.2026 surplus minimum CET 1 capital ratio +4.08 p.p. 8.52% Tier 1 capital ratio +3.61 p.p. 10.02% Total capital ratio +3.29 p.p. 12.02% Results of mBank Group in Q2 2026 – Capital position 23 Comfortable capital buffers over regulatory minima supported by partial profit retention Own funds and their components Total risk exposure amount mBank Group’s capital ratios PLN million PLN million compared to regulatory requirement 1,183 1,500 16,271 06/25 2,475 1,500 18,482 03/26 2,425 1,500 18,240 06/26 18,954 22,457 22,166 +17% -1% CET1 capital AT1 Tier 2 capital 06/25 03/26 06/26 119,056 135,901 144,809 +22% +7% 0.99% 1.26% 13.67% 06/25 1.82% 1.10% 13.60% 03/26 1.67% 1.04% 12.60% 06/26 2.00% 1.50% 8.52% minimum requirement 15.92% 16.52% 15.31% 12.02% Note: Own funds and capital ratios as of 03/26 recalculated taking into account the retrospective inclusion of a part of the net profit (after the approval of the Polish FSA). Investor Presentation | Q2 2026
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Key take-aways after Q2 2026 24 We delivered Improvement of market shares backed by strong growth of credit portfolio (+13% YoY) and deposit base (+21% YoY) in both retail and corporate client segments Good progress in the execution of the new strategy along with launch of solutions designed to enhance the client experience and simplify daily banking operations Excellent financial performance, with the highest net profit in history, driven by rebounding net interest income, robust net fees, best-in-class efficiency and low cost of risk Safe capital position strengthened by partial retention of earnings, providing a solid foundation for further growth and development of the business Investor Presentation | Q2 2026
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03 Update on Poland’s macroeconomic situation and outlook
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Macroeconomic situation in Poland: GDP growth, inflation, rates 26 Soft indicators have been stable of late suggesting a well-founded outlook for consumption ahead. Overall, consumption growth is expected to slow down gradually due to lower wage growth and increased propensity to save. The labour market in Poland proved to be resilient in the past years. Given structural factors, the unemployment rate will remain low in the coming quarters buoyed by the ongoing economic recovery. Consumption growth is likely to stay decent Unemployment rate (still) very low GDP growth in Poland is seen to keep rising supported by investment which is likely to accelerate as EU-led projects should kick off. The GDP dynamic in 2026 is expected to reach 3.7%, followed by deceleration to below 3% in 2027. Inflation has jumped recently due to higher fuel prices. It is expected to stay at around 2.5-3% in the coming months. Core inflation should follow this trend as well. As a result, the MPC is likely to keep rates in Poland unchanged this year. GDP path and forecast for Poland (% YoY) Inflation within the target in 2026 -50 -40 -30 -20 -10 0 10 20 Jan.16 Jan.17 Jan.18 Jan.19 Jan.20 Jan.21 Jan.22 Jan.23 Jan.24 Jan.25 Jan.26 Consumer Confidence Self-assessed household financial situation 0% 2% 4% 6% 8% 10% 12% Jan.16 Jan.17 Jan.18 Jan.19 Jan.20 Jan.21 Jan.22 Jan.23 Jan.24 Jan.25 Jan.26 Unemployment rate Source: GUS Source: GUS -2% 0% 2% 4% 6% 8% 10% 12% 14% 16% 18% 2020 2021 2022 2023 2024 2025 2026 Repo rate CPI inflation Core inflation Repo rate forecast CPI forecast Core CPI forecast 2.7 -7.7 -1.1 -1.9 0.3 12.2 6.7 8.7 8.9 6.3 4.1 2.5 -0.5-0.5 0.6 1.2 2.5 3.6 3.0 3.7 3.2 3.3 3.8 4.1 3.5 3.7 3.8 3.9 -8 -6 -4 -2 0 2 4 6 8 10 12 14 Q1/20 Q3/20 Q1/21 Q3/21 Q1/22 Q3/22 Q1/23 Q3/23 Q1/24 Q3/24 Q1/25 Q3/25 Q1/26 Q3/26 Investment Net exports Consumption Inventories GDP YoY (%) Source: GUS Source: NBP, GUSmBank’s forecast mBank’s forecast 2027 Investor Presentation | Q2 2026
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Macroeconomic situation in Poland: financial markets 27 Deposit growth in the corporate sector started to accelerate. The same move is seen in the case of credit growth. The ongoing economic recovery should drive up demand for loans in 2026. The strong labour market and expansionary fiscal policy support deposit accumulation. Credit growth is rising, and it is expected to continue this move amidst improving economic activity. -6% -4% -2% 0% 2% 4% 6% 8% 10% 12% 14% 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Household deposits Household loans Mortgage loans -10% -5% 0% 5% 10% 15% 20% 25% 30% 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Corporate deposits Corporate loans Corporate investment loans Source: NBP Source: NBP Corporate loans and deposits (YoY, FX-adjusted) Household loans and deposits (YoY, FX-adjusted) 3,40 3,60 3,80 4,00 4,20 4,40 4,60 4,80 5,00 5,20 Jan.19 Oct.19 Jul.20 Apr.21 Jan.22 Oct.22 Jul.23 Apr.24 Jan.25 Oct.25 Jul.26 EUR/PLN CHF/PLN USD/PLN 5.20 5.00 4.80 4.60 4.40 4.20 4.00 3.80 3.60 3.40 Bond yields on domestic debt have stabilized at the elevated levels due to simmering risks related to the war in the Middle East. Credit risk measures have also remained high. Polish currency has lost traction against foreign currencies as the war-related risk-off hit. The zloty is still expected to weaken moderately on the back of anticipated lower real rates and risks associated with fiscal policy. 0 100 200 300 400 500 600 700 800 900 Jan.19 Oct.19 Jul.20 Apr.21 Jan.22 Oct.22 Jul.23 Apr.24 Jan.25 Oct.25 Jul.26 2Y 5Y 10Y Source: Bloomberg Source: Bloomberg Government bond yields increased recently (bps) PLN got weaker against major currencies Investor Presentation | Q2 2026
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Macroeconomic forecasts and outlook for Poland 28 Source: Statistics Poland, National Bank of Poland, mBank’s estimates as of 14.07.2026. 2023 2024 2025 2026F 2027F GDP growth (YoY) 0.2% 3.0% 3.6% 3.7% 2.7% Domestic demand (YoY) -3.0% 4.5% 4.2% 2.7% 2.5% Private consumption (YoY) -0.3% 2.9% 3.7% 3.1% 2.7% Investment (YoY) 12.7% -0.9% 4.4% 6.5% 3.5% Inflation (eop) 6.2% 4.7% 2.4% 2.9% 3.0% MPC rate (eop) 5.75% 5.75% 4.00% 3.75% 3.50% CHF/PLN (eop) 4.68 4.55 4.53 4.63 4.63 EUR/PLN (eop) 4.34 4.28 4.22 4.30 4.30 2023 2024 2025 2026F 2027F Corporate loans -0.7% 4.8% 8.9% 11.7% 7.6% Household loans -1.3% 2.9% 4.1% 5.7% 4.7% Mortgage loans -3.6% 2.9% 3.3% 5.3% 5.3% Mortgage loans in PLN 1.8% 7.7% 7.7% 8.6% 8.2% Non-mortgage loans 3.0% 2.8% 5.6% 6.4% 3.7% Corporate deposits 8.7% 3.8% 14.4% 8.6% 5.7% Household deposits 11.3% 9.9% 8.1% 7.6% 6.1% ▪ GDP growth in Poland is expected to reach 3.7% in 2026 as the adverse effects of the war in the Middle East weigh on. ▪ Consumption growth is to slow down to some extent, sentiment to be fragile going forward. ▪ Investment did accelerate in 2025 and is expected to speed up even more in 2026, driven by an array of projects financed by EU funds. ▪ Inflation has increased briefly. This is obviously related to the war in the Middle East, which has led to a significant rise in fuel prices. ▪ Due to increased geopolitical and inflationary risks, NBP is anticipated to keep interest rates unchanged at 3.75% until the year-end. ▪ Higher investment dynamics, and inflows of the EU funds, should support loan growth in 2026. On the flip side, a significant pile of own funds among companies and high prices of residential properties could limit the pace. Main factors driving the performance in 2026 Polish banking sector – monetary aggregates YoY Key economic indicators for Poland Investor Presentation | Q2 2026
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Outlook for mBank Group for 2026 29 We expect Total revenues to exceed the level reported for 2025 despite lower interest rates as margin pressure should be offset by balance sheet expansion and rising net fees The cost/income ratio to remain visibly below the strategic target of 35% thanks to disciplined cost management despite investments and business development Legal risk costs not to be a significant burden along with further reduction of active CHF portfolio and declining number of court proceedings Business volumes to grow at a faster pace than the market, with a further focus on mortgage lending and financing of strategic industries Investor Presentation | Q2 2026
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Appendix
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Consolidated Profit and Loss Account – quarterly 31 Quarterly results (PLN million) Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Net interest income 2,555 2,511 2,482 2,391 2,453 Net fee and commission income 582 580 543 576 569 Net trading and other income 59 88 34 127 105 Total income 3,196 3,179 3,059 3,094 3,127 Total operating costs -901 -929 -1,012 -1,174 -950 Overhead costs -731 -766 -836 -1,017 -784 Amortisation -170 -163 -176 -157 -166 Loan loss provisions and fair value change1 -129 -207 -258 -104 -136 Costs of legal risk related to FX loans -543 -455 -379 -73 -124 Operating result 1,623 1,588 1,410 1,743 1,917 Taxes on the Group balance sheet items -191 -195 -205 -215 -224 Profit or loss before income tax 1,432 1,393 1,205 1,528 1,693 Income tax expense -473 -556 -164 -575 -633 Net result attributable to owners of mBank 959 837 1,041 953 1,060 1 Sum of ‘Impairment on financial assets not measured at fair value through profit or loss’ and ‘Gains or losses on non -trading financial assets mandatorily at fair value through profit or loss’ related to loans Main factors distorting the recurrent results: Net fee result was supported by an upfront income from new contracts signed with UNIQA of PLN 43.0 million in Q2 2025 and a settlement with a payment card organisation of PLN 41.6 million in Q3 2025. Total costs included contributions to the resolution fund of PLN 294.2 million in Q1 2026 and no payments to the Deposit Guarantee Scheme in H1 2026. Income tax in Q4 2025 was affected by the positive revaluation of deferred tax asset (DTA) in the amount of ca. PLN 118 million (related to increased CIT for banks starting from 2026). Investor Presentation | Q2 2026
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Consolidated Statement of Financial Position – quarterly 32 Assets (PLN million) 30.06.2025 30.09.2025 31.12.2025 31.03.2026 30.06.2026 Cash and balances with Central Bank 20,797 21,973 40,481 23,537 18,277 Loans and advances to banks 19,281 20,541 13,193 22,983 21,718 Trading securities 2,877 2,570 3,498 2,271 3,002 Derivative financial instruments 741 534 782 1,022 1,124 Loans and advances to customers 133,168 136,306 133,217 142,141 150,775 Investment securities 71,808 72,322 81,430 90,672 101,719 Intangible assets 2,026 2,066 2,249 2,273 2,398 Tangible fixed assets 1,395 1,371 1,424 1,369 1,352 Other assets 4,083 3,857 3,979 4,279 4,037 Total assets 256,176 261,538 280,253 290,547 304,402 Liabilities (PLN million) 30.06.2025 30.09.2025 31.12.2025 31.03.2026 30.06.2026 Amounts due to banks 4,693 2,818 2,434 2,294 2,744 Derivative financial instruments 1,926 2,066 1,456 1,930 1,508 Amounts due to customers 205,724 213,962 229,145 237,097 248,487 Debt securities in issue 11,578 9,921 13,611 13,768 15,001 Subordinated liabilities 3,587 3,633 3,404 3,470 3,494 Other liabilities 9,155 8,709 8,794 9,659 9,808 Total liabilities 236,663 241,109 258,844 268,218 281,042 Total equity 19,513 20,430 21,409 22,329 23,360 Total liabilities and equity 256,176 261,538 280,253 290,547 304,402 Investor Presentation | Q2 2026
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Key financial ratios Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Net interest margin quarterly 4.22% 3.97% 3.74% 3.52% 3.47% YtD 4.25% 4.16% 4.05% 3.52% 3.49% Cost/income ratio quarterly 28.2% 29.2% 33.1% 37.9% 30.4% YtD 30.9% 30.4% 31.0% 37.9% 34.1% Cost of risk quarterly 0.40% 0.61% 0.77% 0.30% 0.37% YtD 0.46% 0.52% 0.58% 0.30% 0.34% Return on tangible equity (ROTE) quarterly 23.3% 18.9% 22.6% 20.5% 21.9% YtD 20.8% 20.1% 20.8% 20.5% 21.2% Return on equity (ROE) quarterly 19.9% 16.4% 19.5% 17.5% 18.4% YtD 17.8% 17.3% 17.9% 17.5% 18.0% Return on assets (ROA) quarterly 1.53% 1.28% 1.52% 1.36% 1.43% YtD 1.36% 1.33% 1.38% 1.36% 1.39% Loan-to-deposit ratio 64.7% 63.7% 58.1% 60.0% 60.7% Common Equity Tier 1 ratio (CET1) 13.67% 13.28% 14.20% 13.60% 12.60% Tier 1 capital ratio (T1) 14.93% 15.38% 15.38% 14.70% 13.63% Total capital ratio (TCR) 15.92% 17.54% 17.37% 16.52% 15.31% Leverage ratio 6.35% 6.53% 6.38% 6.31% 5.93% NPL ratio 3.5% 3.4% 3.4% 3.4% 3.1% NPL coverage ratio 52.3% 51.5% 53.4% 47.6% 49.9% NPL coverage ratio incl. stage 1&2 provisions 74.4% 74.6% 77.6% 71.6% 74.4% mBank Group’s financial ratios – quarterly and cumulatively 33 Investor Presentation | Q2 2026
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Results of mBank Group in Q2 2026 – Net interest income 34 Structure of mBank Group’s interest income Structure of mBank Group’s interest expense PLN million PLN million Loans received Other (incl. derivatives) Deposits (incl. from banks) Subordinated liabilities Investment debt securities Other (incl. cash and Debt securities held for trading Loans and advances Derivatives (banking book) Issue of debt securitiesshort-term placements) 784 122 42 190 1 780 Q3/25 5738 188 0 799 Q4/25 2037 217 Q2/25 772 Q1/26 1837 215 0 798 Q2/26 193 23 166 1 0 1,135 1,082 1,046 1,068 1,167 -8.5% +2.1% 2,649 162 6627 821 2,570 Q3/25 161 6833 833 2,469 Q4/25 154 4828 Q2/25 2,327 Q1/26 101 7330 920 2,396 Q2/26 165 5231 825 880 3,646 3,564 3,437 3,5203,723 -5.4% +2.4% 2.1% 2.0% 1.8% 1.7% 1.6% funding costs6.1% 5.8% 5.4% 5.0% 4.9% asset yield Investor Presentation | Q2 2026
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Results of mBank Group in Q2 2026 – Net fees and commissions 35 Structure of mBank Group’s fee and commission income Structure of mBank Group’s fee and commission expense PLN million PLN million 16 Q2/25 134 7 70 1016 92 Q3/25 144 8 72 1119 92 Q4/25 131 5 83 912 86 Q1/26 145 8 66 1216 100 Q2/26 133 7 77 11 73 328 347 316 347 327 +6.0% +9.6% 48 142 217 Q2/25 96 123 4731 165 42 141 263 Q3/25 106 131 5034 168 45 143 213 Q4/25 104 131 4832 170 65 148 194 Q1/26 106 137 6133 161 52 92 218 Q2/26 128 88 31 148 164 909 909 890 892 916 +0.7% +2.7% Discharged brokerage fees Other (incl. insurance activity) Cash handling fees Fees paid to NBP and KIR Brokerage activity & securities issue Foreign currencies exchange Credit related fees Other (incl. custody) Accounts & money transfers Insurance activity Payment card fees Commissions paid to external entitiesPayment card fees Guarantees & trade finance The fee result included: ▪ in Q3/25: settlement with a payment card organisation of PLN 41.6 million ▪ in Q2/25: an upfront income from new contracts signed with UNIQA of PLN 43.0 million Investor Presentation | Q2 2026
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2,246 7,709 06/25 1,456 4,400 12/25 1,350 3,639 03/26 1,246 3,045 06/26 9,955 5,856 4,989 4,291 -57% -14% Results of mBank Group in Q2 2026 – Legal risk of CHF portfolio 36 Settlements concluded by mBank New CHF-related court cases CHF loan contracts in court with CHF borrowers, cumulative number mBank launched the settlement program for borrowers on 26.09.2022. number of contracts entering the court proceedings, by quarter active contracts repaid contracts number of pending cases Classification to active or repaid status as of the reporting date. active contracts repaid contracts 06/25 12/25 03/26 06/26 28,733 32,359 33,440 34,190 +5,457 +750 Repaid contracts as a % of total 82% 83% 89%78%72% 27%23% 25% 29% 202 136 79 92 50 516 477 352 457 389 Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 718 613 431 549 439 -39% -20% Investor Presentation | Q2 2026 50
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total number of disbursed loans 32,025 repaid loans 15,134 final verdict 34,190 settlements active contracts 85,520 4,171 -95% closed or converted into PLN of which: 4% in court Results of mBank Group in Q2 2026 – Legal risk of CHF portfolio 37 Value of CHF mortgage loans Decomposition of CHF loan contracts at mBank granted to natural persons, PLN million, net number of contracts, as of 30.06.2026 of which: 73% in court excluding verdicts followed by settlements PLN 18.8 billion With PLN 124 million booked in Q2/26 (a decline by -77% YoY), cumulative value of all FX-related legal risk provisions created by mBank since Q1/18 amounted to 2015 6,142 2022 1,853 2023 2024 2025 06/26 19,177 11,894 8,187 4,468 1,568 1,137 -65% -27% 1,853 666 portfolio deductions due to legal risks 74 Outstanding legal provisions for FX mortgage loans ▶ Total value of provisions as of 06/26 amounted to PLN 2,673 million and was composed of PLN 1,445 million deducted from outstanding loans and PLN 1,228 million included in the liabilities. The split of the amount was PLN 2,233 million for CHF and PLN 440 million for other currencies. ▶ CHF coverage ratio, defined as relation of legal provisions for CHF loan contracts to the active CHF loan portfolio (before deductions), reached 196% as of 06/26. Share of CHF mortgages in total loan portfolio declined from 23.6% in 2015 to 0.04% at the end of Q2/26 58 Investor Presentation | Q2 2026
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Selected Financial Data – Balance sheet analysis 38 Structure of mBank Group’s total assets Structure of mBank Group’s liabilities and equity PLN billion PLN billion 1% 81% 1% 11.1 3.611.6 205.7 4.7 06/25 20.4 10.8 3.69.9 214.0 2.8 09/25 21.4 10.2 3.413.6 229.1 2.4 19.5 22.3 11.6 3.513.8 237.1 2.3 03/26 23.4 11.3 3.515.0 248.5 2.7 06/26 256.2 261.5 280.3 290.5 304.4 12/25 71.8 0.72.9 133.2 19.3 06/25 29.3 72.3 0.52.6 136.3 20.5 09/25 48.1 81.4 0.83.5 133.2 13.2 28.3 31.5 90.7 1.02.3 142.1 23.0 03/26 26.1 101.7 1.13.0 150.8 21.7 06/26 256.2 261.5 280.3 290.5 304.4 12/25 33% 50% 7% 0% 1% 9% Amounts due to customers Other liabilities Amounts due to other banks Subordinated liabilities Loans and advances to customers Investment securities Trading securities Other assets Amounts due from banks Derivative financial instruments Debt securities in issue Equity (total) 8% 5% 4% Investor Presentation | Q2 2026
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45.0% 0.7% 35.9% 1.1% 17.2% 0.1% Selected Financial Data – Structure of loans and deposits 39 30.06.2026 Structure of mBank Group’s gross loans, by client segment and industry Structure of mBank Group’s deposits 30.06.2026 1 Including local currency mortgage loans granted in Poland, the Czech Republic and Slovakia 2 Including repo transactions PLN billion Corporate clients: current accounts2 49.8 Corporate clients: term deposits 17.4 Individual clients: current accounts 85.5 Individual clients: saving accounts 69.8 Individual clients: term deposits 23.0 Public sector clients 3.0 TOTAL 248.5 PLN billion Corporate loans 69.4 Mortgage loans in FX to individuals 1.1 Mortgage loans in LC to individuals1 55.3 Mortgage loans to microfirms 1.7 Non-mortgage retail loans 26.6 Public sector loans 0.2 TOTAL 154.3 A well diversified loan portfolio with granular structure of exposures 71.7% Food sector Transport and logistics Motorisation Scientific and technical activities Metals Human health Construction materials Retail trade Chemicals and plastic products Wholesale trade Other (<1.1%) 4.6% 4.5% Financial activities 2.7% 2.6% 2.3% 2.0% 2.0% 1.8% 1.5% 1.5% 1.3% 1.2% 1.1% 11.7% Real estate Construction Power and heating distribution 4.2% 54.9% Investor Presentation | Q2 2026 20.1% 7.0% 34.4% 28.1% 9.2% 1.2%
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63.4% 25.0% 1.0% 5.3% 1.3% 4.0% Selected Financial Data – Funding profile 40 Structure of mBank Group’s funding Summary of mBank’s long-term funding instruments 30.06.2026 30.06.2026 (without covered bonds issued by mBank Hipoteczny) Summary of mBank’s ratings 30.06.2026 Corporate__ deposits 88.4% Retail deposits Due to banks Debt securities in issue Subordinated liabilities Other Fitch Ratings S&P Global Ratings Long-term rating BBB+ BBB+ Outlook stable positive Short-term rating F2 A-2 Viability rating / SACP bbb bbb Outstanding value Currency Issue date Maturity date Tenor Coupon 250 M EUR 20.09.2021 21.09.2027 6.0 Y 0.966% 500.8 M EUR 11.09.2023 11.09.2027 4.0 Y 8.375% 500 M EUR 27.09.2024 27.09.2030 6.0 Y 4.034% 500 M EUR 03.12.2025 03.03.2032 6.25 Y 3.7714% 750 M EUR 26.05.2026 26.05.2033 7.0 Y 4.335% 250 M CHF 21.03.2018 21.03.2028 10.0 Y LIBOR3M +2.75% 550 M PLN 09.10.2018 10.10.2028 10.0 Y WIBOR6M +1.80% 400 M EUR 25.06.2025 25.09.2035 10.25 Y 4.7784% 1,500 M PLN 06.12.2024 Perpetual NC5 - 10.63% 138 M CHF 02.08.2019 02.08.2027 8.0 Y - NPS and PS issues under Euro Medium Term Note (EMTN) Programme Tier 2 instruments (T2) Loans and advances received 1 1 1 bonds issued in non-preferred senior (NPS) format; 2 bond issued in preferred senior (PS) format; 3 issued under EMTN programme 2 3 Additional Tier 1 instruments (AT1) 1 Investor Presentation | Q2 2026 1 Note: In May 2026, mBank completed a tender offer for two series of its senior non-preferred notes maturing in 2027.
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Fifth issuance of EUR-denominated green bonds by mBank 41 Investor Presentation | Q2 2026 Transaction details Distribution by investor location Format Green Senior Non-Preferred Notes Issue size EUR 750 million Issue rating BBB- (S&P) / BBB- (Fitch) Settlement date 26.05.2026 Optional call date 26.05.2032 Maturity date 26.05.2033 Tenor 7NC6 Reoffer spread MS+127bps Coupon 4.335% fixed p.a. Listing Luxembourg Stock Exchange ▪ The issuance attracted very strong investor demand, with the peak orderbook reaching ~EUR 3.7 billion (translating into ~4.9x oversubscription) and participation from over 130 investors. The transaction was executed intraday. ▪ In line with the Green Bond Framework 2026, proceeds from the issuance will be allocated to financing or refinancing residential buildings and renewable energy projects compliant with EU Taxonomy Technical Screening Criteria related to Substantial Contribution, as well as commercial real estate holding recognized international sustainability certifications. Distribution by investor type 42% 17% 13% 10% 9% 4% 2% 3% United Kingdom and Ireland DACH countries France Poland BeNeLux Southern Europe CEE region excluding Poland Other 87% 6% 2% 2% 2% 1% Fund and asset managers Banks and private banks Central banks and official Insurance and pension funds Hedge funds Other institutions
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Countercyclical Capital Buffer (CCyB), calculated as the weighted average of the CCyB rates that apply in the countries where the relevant credit exposures are located. The applicable rate for exposures on the territory of Poland was raised to 1% from 25.09.2025. Systemic Risk Buffer (SRB) reduced to 0% in Poland starting from 19.03.2020. Other Systemically Important Institution (O-SII) Buffer, imposed by an administrative decision of the PFSA; its level is reviewed annually. Conservation Capital Buffer (CCB), equal for all banks in Poland as introduced by the Act on Macroprudential Supervision Over the Financial System and Crisis Management in the Financial System. Individual additional Pillar 2 capital requirement for risk related to FX retail mortgage loans (FXP2) imposed as a result of risk assessment carried out by the PFSA. CRR Regulation minimum level (CRR) based on the applicable EU Regulation. Selected Financial Data – Capital requirements and liquidity 42 Regulatory capital requirements for mBank Group 13.63% reported 1.02% 0.50% 2.50% 0.00% 6.00% minimum 15.31% reported 1.02% 0.50% 2.50% 0.00% 8.00% minimum 10.02% 12.02% +3.61 pp +3.29 pp Tier 1 Capital Ratio Total Capital Ratio 06/25 09/25 12/25 03/26 06/26 155% 222% 154% 215% 167% 232% 168% 230% 163% 218% Net Stable Funding Ratio (NSFR) Liquidity Coverage Ratio (LCR) Basel III requirement ≥100% Ratios for mBank Group as of 06/26 NSFR: 171% LCR: 236% 30.06.2026 Development of mBank’s liquidity ratios Investor Presentation | Q2 2026
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Selected Financial Data – Fulfilment of MREL requirements 43 Development of mBank Group’s MRELTREA ratio Development of mBank Group’s MRELTREA Subordinated ratio 1 MREL ratios as of 03/26 recalculated taking into account the retrospective inclusion of a part of the net profit (after the approv al of the Polish FSA). MREL requirement CBR calculated on TREA (w/o mBH) as of 06/26 06/25 09/25 12/25 03/26 06/26 4.06% 15.36% minimum requirement 24.63% 24.72% 25.88% 24.58% 23.72% 19.42% +4.30 06/25 09/25 12/25 03/26 06/26 4.06% 13.73% minimum requirement 22.81% 22.93% 24.19% 22.99% 22.22% 17.79% +4.43 06/25 09/25 12/25 03/26 06/26 minimum requirement 10.36% 10.43% 10.68% 10.55% 10.30% 5.91% +4.39 06/25 09/25 12/25 03/26 06/26 minimum requirement 9.59% 9.68% 9.99% 9.86% 9.65% 5.32% +4.33 1 1 1 1 Development of mBank Group’s MRELTEM ratio Development of mBank Group’s MRELTEM Subordinated ratio Investor Presentation | Q2 2026
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Additional information on selected loan portfolio aspects 44 Investor Presentation | Q2 2026 Share of stage 2 in mBank Group’s gross loan portfolio Commercial Real Estate (CRE) portfolio at mBank loans and advances to customers valued at amortised cost 03/25 06/25 09/25 12/25 03/26 06/26 11.2% 16.9% 16.1% 17.9% 16.9% 15.4% mBank’s share of stage 2 receivables has been the result of changes influencing the staging assessment: ▪ In H1 2025, the redevelopment of the transfer logic model involving a revision of the methodology for determining the thresholds for transitions to stage 2 and recalibration of the long-term default probability model, related to the changes in the default definition, triggered a net transfer of PLN 8.6 billion from stage 1 to stage 2. ▪ In H2 2025, an introduction of a collective approach to address climate and environmental risks, concerning mortgage loans secured by houses with poor energy efficiency, vulnerable to transition risk, and corporate customers operating in emissions-intensive sectors, caused reclassification of PLN 4.1 billion into stage 2. corporate portfolio retail portfolioX.XX% X.XX% 03/25 06/25 09/25 12/25 03/26 06/26 10.4% 22.6% 20.5% 23.1% 21.4% 19.5% 11.7% 12.1% 12.4% 14.1% 13.2% 12.1% development of balance sheet exposure, PLN million 06/25 03/26 06/26 7,318 6,903 6,854 -6.3% Share in mBank Group’s total loan portfolio 4.4% ▪ selective approach to financing new CRE exposures, prioritising properties meeting mBank's environmental eligibility criteria, including defined minimum certification levels ▪ good and stable quality of the CRE portfolio, with no increase in the risk associated with the exposures observed ▪ second CRE-based securitisation planned to be closed in H2 2026 Share in mBank Group’s corporate loan portfolio 9.9% 25.7% 43.2% 24.8% 6.3% offices retail parks warehouses hotels mBank Group’s CRE portfolio: ▪ low concentration level: projects with exposure below EUR 25 million accounted for ca. 4/5 of its value ▪ located exclusively in Poland
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mBank’s customers are tech-savvy and widely use digital services number of active users logging into every month, thousand number of accounts opened by corporate clients, by process type 488 3,242 06/24 551 3,469 06/25 627 3,622 06/26 3,730 4,020 4,250 +520 275 2,023 H1/24 205 2,177 H1/25 66 2,774 H1/26 2,298 2,382 2,840+542 mBank PL mBank CZSK digital paper documents 88% 98% share of processes in retail banking area initiated by the clients in digital channels (in H1/26) 85% share of digital channel in the sale of non-mortgage loans (by number of pieces in H1/26) 95% share of corporate clients with at least one user logging in tomobile application monthly (in H1/26) share of digitally opened accounts in new acquisition using a dedicated process (in H1/26) Users of mobile application Corporate account openingRetail clients Corporate clients 45 Investor Presentation | Q2 2026
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Retail Banking – client base and network 46 Number of mBank’s retail clients (thousand) Well-designed functionalities for client convenience Number of retail service locations 1,154 4,658 06/25 1,172 4,678 09/25 1,187 4,709 12/25 1,215 4,754 03/26 1,239 4,782 06/26 5,812 5,850 5,896 5,969 6,021 +209 mBank PL mBank CZSK Customer split by country: fully remote account opening with e-ID or a selfie and agreement approved via a text message logging in and confirmation of transactions with a PIN code, fingerprint or Face ID contactless payments with Google Pay and Apple Pay, express transfers using telephone numbers and BLIK saving goals, personal financial management (PFM), budget setting and value added services reminders from Payment Assistant and scanning of data to the transfer form from the invoices a fully functional marketplace (mZakupy) in the app, accompanied by one-click financing options 1 including financial centres and agency service points 79 78 78 141 141 140 43 4342 40 1529 06/25 40 1529 03/26 40 1529 06/26 346 346 345 -1 mBank CZSK mFinanse1 mKiosks Advisory centres Light branches (in shopping malls) mBank’s outlets (standard format) mBank focuses on fulfilling customer needs at every stage of life by providing tailored financial products to deepen relationships and delightful mobile experience in the app Investor Presentation | Q2 2026
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Retail Banking – results, activity and transactionality 47 Number of active retail individual customers in Poland Value of non-cash payments with cards and BLIK thousand PLN million 8,562 26,678 Q2/25 8,803 27,948 Q3/25 9,813 27,573 Q4/25 9,330 26,249 Q1/26 9,954 29,056 Q2/26 35,240 36,751 37,387 35,579 39,010 +11% +10% cards BLIK mBank CZSK Business in Poland Total revenues of the segment Profit before income tax of the segment PLN million PLN million 80 1,120 Q2/25 68 1,090 Q3/25 15 955 Q4/25 29 958 Q1/26 45 1,105 Q2/26 1,201 1,158 970 987 1,150 -4% +17% 158 1,863 Q2/25 158 1,858 Q3/25 131 1,756 Q4/25 140 1,767 Q1/26 156 1,851 Q2/26 2,021 2,017 1,887 1,907 2,007 -1% +5% 3,616 06/25 3,636 09/25 3,653 12/25 3,670 03/26 3,688 06/26 +73 +19 Note: Active customer defined as an individual aged 13+ with an active product, or a customer who have received a transfer / initiated a financial transaction in the past 6 months, or whose total assets with mBank exceed PLN 10,000. Investor Presentation | Q2 2026
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Retail Banking – business volumes 48 Development of gross loans to retail banking clients Development of deposits from retail banking clients PLN million PLN million Note: Currency and geographical breakdown based on management information . 13% 39% 48% 315 24,502 51,413 77,249 09/25 261 23,716 59,411 81,424 12/25 261 23,290 65,501 340 03/26 250 22,997 69,734 85,278 06/26 24,313 47,895 75,910 06/25 148,458 153,479 164,812 171,233 178,260 82,180 +20.1% +4.1% 40,495 24,779 1,815 6,1191,427 42,719 09/25 24,990 1,754 6,2121,299 44,271 12/25 25,586 1,704 6,401 06/25 45,820 03/26 26,601 1,667 6,920 1,136 48,397 06/26 24,272 1,8735,8531,628 1,233 76,860 78,527 80,744 84,722 74,120 +14.3% +4.9% 32% 1% 57% 2% 8% Saving accounts Other Current accounts Term deposits FX mortgage loans to individuals Non-mortgage loans Mortgage loans granted in CZSK PLN mortgage loans to individuals Mortgage loans to microfirms Investor Presentation | Q2 2026
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mBank in the Czech Republic and Slovakia 49 Note: Volumes based on management information. Gross loans and share in total mBank’s retail volume Deposits and share in total mBank’s retail volumes PLN million PLN million Number of clients Development of total revenues thousand PLN million 49.7 108.6 Q2/25 51.6 106.8 Q3/25 42.8 87.8 Q4/25 48.6 91.3 Q1/26 53.4 102.5 Q2/26 158.4 158.4 130.5 139.9 155.9 -2% +11% SK CZ 343.2 810.5 06/25 345.6 826.2 09/25 347.3 840.0 12/25 350.9 864.3 03/26 354.4 884.4 06/26 1,153.8 1,171.7 1,187.4 1,215.2 1,238.7 +85.0 +23.5 SK CZ Main interest rate CZ: 3.75% SK: 2.40% 30.06.2026 Users of mobile application CZ: 447.8 SK: 179.6 30.06.2026 3,180 6,557 06/25 3,273 6,909 09/25 3,272 7,027 12/25 3,372 7,215 03/26 3,577 7,690 06/26 9,737 10,181 10,300 10,587 11,268 +16% +6% SK CZ 13.3% 4,472 13,335 06/25 4,501 16,220 09/25 4,612 21,007 12/25 4,702 23,718 03/26 4,819 25,333 06/26 17,806 20,721 25,619 28,420 30,152 +69% +6% SK CZ 16.9% Investor Presentation | Q2 2026
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mBank in the Czech Republic and Slovakia 50 Note: Volumes based on management information. 15 light branches 6 financial centres 9 mKiosks 8 light branches 0 financial centres 5 mKiosks Czech Republic Slovakia physical network: physical network: 22,914 06/25 25,184 03/26 26,978 06/26 +18% +7% 419.1 06/25 430.2 03/26 462.1 06/26 +10% +7% 14,323 06/25 15,010 03/26 15,305 06/26 +7% +2% 77,769 06/25 135,625 03/26 142,981 06/26 +84% +5% 310.6 06/25 336.2 03/26 348.4 06/26 +12% +4% 1,055.9 06/25 1,097.8 03/26 1,123.9 06/26 +6% +2% Mortgage loans Non-mortgage loans CZK million CZK million Customer deposits CZK million Mortgage loans Non-mortgage loans EUR million EUR million Customer deposits EUR million Investor Presentation | Q2 2026
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mBank is developing unique hybrid service model based on professional relations with corporate clients backed by technology and best digital experience across all channels Corporate & Investment Banking – client base and network 51 Number of mBank’s corporate clients First-class digital banking offer for companies Number of corporate service locations – 30.06.2026 Łódzkie Zachodnio- Pomorskie Pomorskie Warmińsko- Mazurskie Podlaskie Mazowieckie Lubelskie Świętokrzyskie Podkarpackie Małopolskie Śląskie Opolskie Dolnośląskie Wielkopolskie Kujawsko- Pomorskie Lubuskie 2 2 1 2 1 1 4 2 2 1 2 2 1 2 1 1 1 4 1 1 2 1 2 2 1 1 mBank’s branches, incl. 13 advisory centres mBank’s offices 29 14 2,456 11,293 23,212 06/25 2,482 11,376 23,517 09/25 2,464 11,354 23,733 12/25 2,543 11,457 24,023 03/26 2,554 11,683 24,581 06/26 36,961 37,375 37,551 38,023 38,818 +1,857 K1 segment annual sales over PLN 1 B and non-banking financial institutions K2 segment annual sales PLN 50 M to PLN 1 B K3 segment annual sales below PLN 50 M and full accounting Corporate customers split: entirely digital onboarding process, with no in-person contact and printouts required advanced mBank CompanyNet transactional system, allowing for high level of personalization remote access and constant control via enhanced mBank CompanyMobile application Administrator Centre for self-managing user permissions and authorisation schemes electronic sending of documents, applications, signing of agreements mAuto.pl online platform with an offer of new and used cars, financed by leasing or long-term rental Investor Presentation | Q2 2026
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Corporate & Investment Banking – results and strategic financing 52 Total revenues of the segment Profit before income tax of the segment PLN million mBank’s engagement in sustainable finance Financing granted within strategic growth streams on-balance sheet exposure, PLN million PLN million 696 Q2/25 648 Q3/25 546 Q4/25 504 Q1/26 648 Q2/26 -7% +29% 1,079 Q2/25 1,094 Q3/25 1,073 Q4/25 1,034 Q1/26 1,072 Q2/26 -1% +4% sum of on-balance and off-balance sheet exposure, PLN million 8,604 06/25 9,954 03/26 10,411 06/26 +21% +5% Note: Volume defined as sustainable, transition, and impact finance, aligned with international standards (e.g. LMA and ICMA), applicable regulations, and internal principles – for further information, see Transition Plan of mBank Group. 12.6% of corporate credit portfolio vs. the goal of 15% set in the strategy for 2030 22.0% of corporate credit portfolio vs. the goal of 40% set in the strategy for 2030 Note: Development defined and monitored for mBank on stand -alone basis (without subsidiaries). 9,558 06/26 ▪ Energy and technology transition ▪ Digitization and automation of processes ▪ Economic resilience and localisation of production ▪ Green economy, closed loop and sharing economy ▪ Health and the leisure economy ▪ Defence Investor Presentation | Q2 2026
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Corporate & Investment Banking – business volumes 53 Development of gross loans to corporates and public sector Development of deposits from corporates and public sector PLN million PLN million Note: Corporate clients split: K1 – annual sales over PLN 1 B and non-banking financial institutions; K2 – annual sales of PLN 50 M to PLN 1 B; K3 – annual sales below PLN 50 M and full accounting. 964 15,027 27,778 16,714 09/25 990 16,601 29,903 16,840 12/25 1,175 16,011 28,822 1,032 03/26 1,570 17,200 30,599 20,858 06/26 14,137 26,939 15,159 06/25 57,266 60,483 64,333 65,864 70,227 19,856 +22.6% +6.6% 26,891 06/25 7,237 3,638 8,792 3,368 27,249 12,602 09/25 7,544 3,415 8,740 3,154 26,153 9,240 12/25 7,565 3,832 12,944 3,263 27,502 13,950 03/26 7,884 4,051 8,991 3,588 29,202 15,903 06/26 7,042 3,674 8,735 3,271 8,807 62,886 58,246 64,919 69,619 62,556 +11.3% +7.2% K1 K2 K3 OtherK1 K2 K3 mLeasing mFaktoring Other1 1 Other category includes leasing granted to clients of retail segment, but classified in the financial statements to 'loans an d advances to corporate customers' Investor Presentation | Q2 2026
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Sustainalytics ESG Risk Rating mBank supports financing change and unlocking economic potential 54 Investor Presentation | Q2 2026 Execution of selected mBank Group’s sustainability targets (pillar: economic momentum) Energy efficient mortgages Double the volume of energy efficient (taxonomy-aligned) mortgage loan sales vs. the 2024 level Allocate 15% of corporate loans engagement to sustainable, transition, and impact finance Increase the share of financially healthy active customers to 50% (meeting at least 3 out of 6 financial health principles) Share of sustainable finance Financially healthy clients PLN million on-balance and off-balance sheet exposure of total active base aged 18+ 03/26 06/26 2030 12.6% 12.6% 15.0% target 03/26 06/26 2030 46.9% 46.9% 50.0% 830 Q1/26 Q2/26 2030 2,200 2,690 target H1/26: 3,030 mBank’s ESG ratings MSCI ESG Rating CDP scoring low risk – 15.4/100 (0 = best result, updated in 2026) rating of AA (AAA = best result, updated in 2026) “B” on the “A” to “F” scale in 2025 Building a strong green bond funding platform Green Bond Framework updated in May 2026 in line with ICMA Green Bond Principles 2025 and EU Taxonomy Substantial Contribution criteria target 5 issuances in green format since 2021 ~EUR 3 billion of proceeds allocated in eligible green assets defined in Green Bond Framework
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Performance of main subsidiaries of mBank 55 established in 1995 offered services include domestic and export recourse and non-recourse factoring, financing of current activityestablished in 1991 offered financing in the form of leasing of cars, trucks, machinery and real estate as well as car fleet management (CFM) services Source: Calculation of market shares based on data published by Polish Leasing Association (PLA) and Polish Factors Association (PFA). New leasing sale Factoring turnover PLN million PLN million Profit before income tax of mLeasing Profit before income tax of mFaktoring PLN million PLN million 1,826 Q2/25 1,946 Q3/25 2,282 Q4/25 2,164 Q1/26 2,329 Q2/26 +28% +8% 10,633 Q2/25 11,067 Q3/25 11,707 Q4/25 10,390 Q1/26 12,275 Q2/26 +15% +18% 68.0 Q2/25 53.9 Q3/25 47.9 Q4/25 46.1 Q1/26 55.6 Q2/26 -18% +21% 22.8 Q2/25 11.4 Q3/25 16.0 Q4/25 10.4 Q1/26 14.3 Q2/26 -37% +38% Market share in 2025: 6.6% Market share in 2025: 8.2% Investor Presentation | Q2 2026
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Performance of main subsidiaries of mBank 56 established in 2021 main activities include establishment and management of investment funds and providing portfolio management servicesestablished in 1999 specialised mortgage bank and active issuer of covered bonds on both domestic and foreign capital markets Outstanding amount of covered bonds Assets under management (AuM) PLN million, nominal value, incl. private placement PLN million Profit before income tax of mBank Hipoteczny Profit before income tax of mTFI PLN million PLN million 6,522 06/25 5,248 09/25 5,997 12/25 6,002 03/26 6,502 06/26 -0.3% +8.3% 4,141 06/25 4,610 09/25 5,163 12/25 5,788 03/26 6,448 06/26 +56% +11% 7.8 Q2/25 10.2 Q3/25 Q4/25 Q1/26 Q2/26 -10.9 5.0 6.4 -18% +28% 3.1 Q2/25 4.3 Q3/25 9.1 Q4/25 6.5 Q1/26 6.8 Q2/26 +121% +4% Investor Presentation | Q2 2026
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Historical financial results of mBank Group 57 PLN million 2021 2022 2023 2024 2025 ∆ YoY Net interest income 4,126.3 5,924.0 8,873.5 9,589.0 10,019.0 +4.5% Net fee and commission income 1,867.8 2,120.1 1,915.9 1,971.9 2,208.4 +12.0% Net trading and other income 117.1 -187.2 12.9 446.0 239.0 -46.4% Total income 6,111.1 7,856.9 10,802.3 12,006.9 12,466.4 +3.8% Total costs -2,456.9 -3,319.2 -3,074.4 -3,388.3 -3,867.9 +14.2% Loan loss provisions and fair value change -878.6 -849.3 -1,105.5 -585.5 -759.8 +29.8% Operating profit before legal provisions and taxes 2,775.7 3,688.4 6,622.3 8,033.1 7,838.7 -2.4% Costs of legal risk related to FX loans -2,758.1 -3,112.3 -4,908.2 -4,307.0 -2,039.7 -52.6% Taxes on the Group balance sheet items -608.6 -684.2 -743.6 -752.4 -778.1 +3.4% Income tax -587.8 -594.5 -946.5 -730.4 -1,477.3 +102.3% Net profit or loss -1,178.8 -702.7 24.1 2,243.2 3,543.5 +58.0% Total assets 198,373 209,892 226,981 245,957 280,253 +13.9% Gross loans to customers 120,856 123,437 117,229 124,985 136,773 +9.4% Customer deposits 157,072 174,131 185,467 200,809 229,146 +14.1% Total equity 13,718 12,715 13,737 17,767 21,409 +20.5% Net interest margin 2.2% 3.7% 4.2% 4.3% 4.0% -0.3pp Cost/Income ratio 40.2% 42.2% 28.5% 28.2% 31.0% +2.8pp Cost of risk 0.76% 0.69% 0.93% 0.49% 0.58% +0.09pp Return on equity (ROE) -7.2% -5.3% 0.2% 14.8% 17.9% +3.1pp Tier 1 capital ratio 14.2% 13.8% 14.7% 15.7% 14.4% -1.3pp Total capital ratio 16.6% 16.4% 17.0% 17.0% 16.3% -0.7pp Investor Presentation | Q2 2026
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mBank Group’s Strategy for 2026-2030 is based on three pillars 58 ▪ focus on fulfilling client needs at every stage of life by providing tailored financial products to deepen relationships, strengthen loyalty, take care of financial planning and well-being ▪ develop unique hybrid service model based on professional relations with corporate clients backed by technology, digital internal and sales processes ▪ expand corporateloan business through a focus on prospectiveindustries, sustainable,transition and impact financing, cooperation with Commerzbank, simplified automated credit paths ▪ support clients in their day-to-day life by simplifying their financial journeys and providing functionalities designed to evolving needs ▪ launch new, responsive mobile application and redesign communication ecosystem for retail clients, enhanced with conversational banking and AI-powered assistant ▪ deliver more personalized digital experience for corporate customers by revamping online banking platform, extending availability (24/7) of services, deploying integrated CRM system ▪ build a modern, scalable, and efficient organization, with resilient infrastructure, by applying AI as a tool supporting main business and operational processes ▪ leverage advanced technology to deliver the best customer experience (analytics of interactions to uncover insights, sales opportunities) and help advisors (smart search engines) ▪ develop organisational culture and employee value proposition (EVP) based on engagement, innovation, data-driven HR, future skills learning initiatives and a sense of belonging Lifecycle-based growth Customer excellence Organisational excellence Investor Presentation | Q2 2026
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ESG is well embedded in mBank Group's strategy 59 mBank Group’s sustainability targets for 2026-2030 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 Developing a resilient business model alongside the 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 Transition Plan of mBank Group sets measurable portfolio decarbonisation targets (including AuM) Climate action 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% Economic momentum Investor Presentation | Q2 2026 Note: For methodology, definitions, baseline values, interim targets and scope of eligible exposures, please refer to Strategy of mBank Group for 2026-2030 and Transition Plan.
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mBank’s index membership mBank’s share price performance v. main indices (rebased to 100) Information about mBank's shares on the stock exchange 60 Source: WSE, Bloomberg (data as of 30.06.2026). as of 30.06.2026 ISIN code PLBRE0000012 Bloomberg MBK PW Number of shares issued 42 547 865 Free float 31.01% Market capitalisation PLN 58.0 billion Price-to-book value (P/BV) 2.60x 95 100 105 110 115 120 125 130 135 140 145 150 155 160 165 170 175 180 185 30.06.25 31.07.25 31.08.25 30.09.25 31.10.25 30.11.25 31.12.25 31.01.26 28.02.26 31.03.26 30.04.26 31.05.26 30.06.26 mBank WIG-Banks Index WIG-20 Index +26.1% +70.9% +44.7% mBank’s share price 30.06.2025 798.0 MIN (10.07.2025) 767.0 MAX (16.06.2026) 1,457.0 30.06.2026 1,364.0 new all-time high (market closing) ▪ mBank has been listed on the Warsaw Stock Exchange since October 1992 ▪ A strategic shareholder, Germany’s Commerzbank, owns 68.99% of shares Parameters of mBank’s shares mBank is also a part of MSCI Poland index. WIG20 WIG30WIG WIG-Banks WIG-Poland Investor Presentation | Q2 2026
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Disclaimer 61 This presentation has been prepared by mBank S.A. for information purposes only and is based on mBank S.A. Group Consolidated Financial Report for the first half of 2026, prepared under the International Financial Reporting Standards. For more detailed information on mBank S.A. and mBank Group results, please refer to the respective financial statements and data. This presentation contains certain estimates and projections regarding potential future trends. Estimates and projections presented in this presentation rely on historical information and other factors and assumptions which reflect mBank S.A. current position about potential future trends which seem justified under the given circumstances. Estimates and projections are inherently subject to substantial and numerous uncertainties and to a wide variety of significant business, economic and competitive risks, and the assumptions underlying the projections may be inaccurate in any material respect. Therefore, the actual results achieved may vary significantly from the projections, and the variations may be material. Statements contained in this document regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. No statement in this presentation is intended to be a profit forecast. While this information has been prepared in good faith, no representation or warranty, expressed or implied, is or will be made and no responsibility or liability is or will be accepted by mBank S.A. or any subsidiaries or affiliates of mBank S.A. or by any of their respective officers, employees or agents in relation to the accuracy or completeness of these materials. The presentation should not be treated as a recommendation to purchase securities, an offer, invitation or a solicitation of an offer to purchase, invest or conclude any transaction on securities, in particular with respect to securities of mBank and its subsidiaries. This presentation has been completed as of the date indicated at the beginning. mBank S.A. does not undertake any obligation to update or revise this presentation, including any forward-looking estimates and projections, whether as a result of new information, future events or otherwise. Investor Presentation | Q2 2026
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Contact details mBank S.A., ul. Prosta 18, 00-850 Warszawa Investor Relations website: www.mbank.pl/en/investor-relations/ Karol Prażmo Managing Director for Treasury and Investor Relations +48 607 424 464 karol.prazmo@mbank.pl 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 mBank’s Investor Relations at your service: e-mail address: investor.relations@mbank.pl