Current Report 

Drafted on:

22.01.2019

Current report No

03/2019

Abbreviated issuer’s name

mBank

Contents: 

With regard to the current reports no. 31/2018 dated 29 August 2018 of mBank S.A. with its registered office in Warsaw („Bank”), the Management Board of the Bank informs as follows:

• The total costs which were included in the issuance costs divided into the following categories:

1. costs of preparing and conducting the offer: PLN 6.72 mn,
2. costs of remuneration of ”subemitents” (within the meaning of art. 4 sec. 12) and 13) of the Polish Act dated 29 July 2005 on the public offering and conditions of introduction of the financial instruments into the organized trading system and on public companies): N/A,
3. costs of promotion: PLN 33.15 k,
4. costs of prospectus and supplement preparation including advisory costs: PLN 2.02 mn (being the cost of preparation of the debt instruments programme prospectus; the prospectus is the basis for multiple issuances of debt instruments across the European Union and outside the EU).

Total expenses mentioned above paid for subscriptions of bonds amounted to PLN 8.78 mn gros (VAT included).

Cost recognition in the accounting records and financial statement of the issuer is as follows:

Expenses related to the preparation of the prospectus and the remaining expenses incurred in relation to the bond offer have been in general included in the profit and loss account at the time they were incurred. However (i) the cost of the prospectus rating and (ii) fees paid to dealers are recognized over a period of twelve months and the maturity of the bonds issued, respectively.

• The average cost of subscription per one subscribed bond: PLN 13.51

It should be noted that the above average cost does not include the cost of preparing the prospectus because this item applies to all bond offers carried out under the EMTN Program. If such a cost was included, the average cost of subscription per one subscribed bond would amount to PLN 17.55.

All the costs referred to in sec. 1) and 2) were calculated by the Bank with duty of care. The value of the costs was rounded up to two decimal places.

Deputy Director of Compliance Department

Agata Rowińska 22.01.2019