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Investor Presentaiton

Disclaimer IMPORTANT: The following applies to this document, the oral presentation of the information in this presentation by mBank Hipoteczny S.A. (the "Bank") or any person on behalf of the Bank, and any Q&A session that follows the oral presentation (collectively, the "Presentation"). In accessing the Presentation, you agree to be bound by the following terms and conditions. The Presentation and its contents are strictly confidential and are intended for use by the recipient for information purposes only and may not be reproduced, redistributed, published or passed on to any other person, directly or indirectly, in whole or in part, for any purpose. This document may not be removed from the premises. If this document has been received in error it must be returned immediately to the Bank. The Presentation is not directed to, or intended for distribution to or use by, any person or entity that is a citizen or resident of, or located in, any locality, state, country or other jurisdiction where such distribution or use would be contrary to law or regulation or which would require any registration or licensing within such jurisdiction. The Presentation is not for publication, release or distribution in the United States, the United Kingdom, Australia, Canada or Japan. This document and its contents may not be viewed by persons within the United States or "U.S. Persons" (as defined in Regulation S under the Securities Act of 1933, as amended (the "Securities Act")). The covered bonds referred to herein (the "Securities") have not been registered under the Securities Act or the laws of any state or other jurisdiction of the United States and the Securities may not be offered or sold in the United States or to or for the account or benefit of U.S. Persons unless so registered, or pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state laws. The Bank does not intend to register any portion of the offering of the Securities in the United States or to conduct a public offering of the Securities in the United States. By accessing the Presentation, you represent that you are a non-U.S. Person that is outside the United States. The Presentation is made to and directed solely at: (i) persons outside the United Kingdom, (ii) persons with professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 as amended (the "Order"), (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order and (iv) persons to whom an invitation or inducement to engage in investment activity (within the meaning of section 21 of the Financial Services and Markets Act 2000) in connection with the issue or sale of any securities of the Bank or any member of its group may otherwise lawfully be communicated or caused to be communicated (all such persons in (i)-(iv) above being "Relevant Persons"). Any investment activity to which the Presentation relates will only be available to and will only be engaged with Relevant Persons. Any person who is not a Relevant Person should not act or rely on the Presentation. By accessing the Presentation, you represent that you are a Relevant Person. The Presentation does not constitute or form part of, and should not be construed as an offer to sell or the solicitation or invitation of an offer to subscribe for or purchase the Securities in any jurisdiction or an inducement to enter into investment activity, and nothing contained therein shall form the basis of or be relied on in connection with any contract or commitment whatsoever, nor does it constitute a recommendation regarding the Securities. The Presentation is an advertisement for the purposes of EU Directive 2003/71/EC (as amended or re-enacted) (the "Prospectus Directive"), does not constitute an offering document or listing particulars in compliance with the regulations or rules of any stock exchange and does not comprise a prospectus for the purposes of the Prospectus Directive. Prospective investors are required to make their own independent investigations and appraisals of the business and financial condition of the Bank and the nature of the Securities before taking any investment decision with respect to the Securities. Full information on the Bank and definitive terms of the offer of the Securities is only available on the basis of the combination of the of Base Prospectus dated 11 July 2019, as supplemented on 5 September 2019 (the "Base Prospectus") and the final terms in relation to the relevant offering (the "Final Terms") which will be published on the Luxembourg Stock Exchange website (www.bourse.lu) and on the website of the Bank (www.mhipoteczny.pl). This Presentation may contain information different from the Base Prospectus and the Final Terms. Therefore, the Presentation is qualified in its entirety by the information in the Base Prospectus and the Final Terms for the proposed transaction on which your investment decision must be based. No part of this Presentation, nor the fact of its distribution, should form the basis of, or be relied on in connection with, any contract or commitment or investment decision whatsoever. m 54
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