Investor Presentaiton

Commercial Real Estate - investment volume Investment volume in Poland by sector m EUR 7000 6000 ■ Office ■Retail Warehouse ■ Others 120 1840 1457 5000 380 1 919 225 225 182 41 600 1100 4000 2 500 486 150 3000 20 2 400 100 600 1 978 100 40 200 200 700 2 150 200 450 2 228 2000 1 550 50 1 350 500 1 050 150 20 1 000 3808 180 10 500 1 150 2750 100 1000 900 1900 700 117 1800 1840 1250 1200 1200 50 1300 1300 1296 1500 950 300 650 400 0 200 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Poland - CEE leader in CRE investment volumes (%) 5% 6% 12% 55% 22% Data Source for the slide: Cushman & Wakefield Report m ■ Poland T I ■Czech Hungary ■Slovakia ■Romania I I Poland - CEE leader in CRE investment (55%). The volume of transactions concluded in 2019 on the commercial real property market amounted to approx. EUR 7.56 bn and the result was higher with that in 2018 (EUR 7.21 bn). The share of the commercial real estate market in 2019 is approx. 50% for offices market, approx. 25% for market retail and approx. 19% for warehouse. I I mBank Hipoteczny Covered bonds Cover Pool Polish Economy Real estate market Legislation 46

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