Slide 1: Results of mBank Group Q1-Q4 2025
Results of mBank Group Q1-Q4 2025 Highest results ever. Business growth acceleration. Presentation for the market, 10.02.2026
Slide 2: Agenda
Agenda 01 Key financial and business highlights for 2025 02 Overview of the results development in Q4 2025 03 Update on Poland’s macroeconomic situation and outlook 04 Appendix
Slide 3: Key financial and business highlights for 2025
01 Key financial and business highlights for 2025
Slide 4: Key highlights at mBank Group in 2025
Key highlights at mBank Group in 2025 Faster-than-market growth Development of mBank Group's core Development of mBank Group’s gross loans1 (PLN billion) deposit base (PLN billion) of business volumes allowed for gaining market shares +10% +14% Dynamic expansion of credit portfolio 121.6 134.3 200.8
Slide 5: Key highlights at mBank Group in 2025
Key highlights at mBank Group in 2025 Retained profits and securitiza- Development of mBank Group’s own Tier 1 capital ratio for mBank Group funds (PLN million) (vs. the requirement) as of 31.12.2025 tions supported adequate capital base for growth +19% +4.34pp After trailblazing issuance of AT1 20,
Slide 6: Financial innovation and product development at mBank in 2025
Financial innovation and product development at mBank in 2025 Digital mortgage loan extended from Smart payment ring with built-in health refinancing option to more complex scenarios and activity tracking In September 2025, mBank completed the first phase mBank became first bank globally to introduc
Slide 7: Market position of mBank Group in Poland after 2025
Market position of mBank Group in Poland after 2025 mBank Group’s market shares in strategic product categories HOUSEHOLDS HOUSEHOLDS HOUSEHOLDS total loans total deposits total mortgage loans 8.0% 8.6% 8.7% 8.0% 8.6% 7.9% 8.5% 8.5% 8.4% 8.4% 8.4% 7.8% 7.8% 8.4% 8.4% 12/24 03/25 06/25 09/25 12/25 12
Slide 8: Results of mBank Group in 2025 – New lending business
Results of mBank Group in 2025 – New lending business Record sales of mortgage and consumer loans, along with corporate credit acceleration Sales of mortgage loans Sales of non-mortgage loans Sales of corporate loans PLN million PLN million PLN million mBank PL mBank CZSK mBank PL mBank CZSK by segm
Slide 9: Results of mBank Group in 2025 – Loans to customers
Results of mBank Group in 2025 – Loans to customers Strong growth of loan portfolio, anchored in mortgages amid volatile corporate exposures Development of mBank Group’s gross loans Market shares in loans PLN million 31.12.2025, in Poland +9.4% -2.1% ∆ QoQ ∆ YoY HOUSEHOLDS total loans w/o FX 136,677
Slide 10: Results of mBank Group in 2025 – Customer deposits
Results of mBank Group in 2025 – Customer deposits Dynamic expansion of deposit base fuelled by steady inflows to transactional accounts Development of mBank Group’s deposits Market shares in deposits PLN million 31.12.2025, in Poland +14.1% ∆ QoQ ∆ YoY +7.1% HOUSEHOLDS total deposits 229,146 8.6% (
Slide 11: Results of mBank Group in 2025 – Total income and margin
Results of mBank Group in 2025 – Total income and margin Total revenues at the record level driven by a rise of net interest income and higher net fees mBank Group’s total income Net interest margin of mBank Group PLN million quarterly data excluding +0.8% impacted by interest +3.8% one-off items 4.
Slide 12: Results of mBank Group in 2025 – Total costs and efficiency
Results of mBank Group in 2025 – Total costs and efficiency Excellent efficiency maintained despite increase of staff and material costs and amortisation mBank Group’s operating costs Cost/Income ratio of mBank Group PLN million quarterly data excluding 34.6% +14.2% contributions +11.8% 33.9% +10.5%
Slide 13: Results of mBank Group in 2025 – Credit losses and cost of risk
Results of mBank Group in 2025 – Credit losses and cost of risk An uptick of risk costs reflecting inclusion of ESG factors and review of corporate exposures mBank Group’s net impairment losses and fair value change on loans Cost of risk of mBank Group PLN million quarterly data Dynamics for the 0.7
Slide 14: Results of mBank Group in 2025 – Net result and profitability
Results of mBank Group in 2025 – Net result and profitability Best-ever reported annual net profit, underpinned by the strength of core operations mBank Group’s net profit – reported and for core business Return on equity (ROE) of mBank Group PLN million quarterly data nominal -1.1% 36.1% 33.9% incr
Slide 15: Results of mBank Group in 2025 – Capital position
Results of mBank Group in 2025 – Capital position Comfortable capital buffers over regulatory minima to pursue further business expansion Own funds and their components Total risk exposure amount mBank Group’s capital ratios PLN million PLN million compared to regulatory requirement CET1 capital AT1
Slide 16: Results of mBank Group in 2025 – Legal risk of CHF portfolio
Results of mBank Group in 2025 – Legal risk of CHF portfolio Good progress with settlements, consistent downward trend of new and pending court cases Settlements concluded by mBank New CHF-related court cases CHF loan contracts in court with CHF borrowers, cumulative number number of contracts enter
Slide 17: Results of mBank Group in 2025 – Legal risk of CHF portfolio
Results of mBank Group in 2025 – Legal risk of CHF portfolio Effective management of CHF portfolio allowed to reduce the risk and impact on future results Value of CHF mortgage loans Decomposition of CHF loan contracts at mBank granted to natural persons, PLN million, net number of contracts, as of
Slide 18: Key take-aways after 2025
Key take-aways after 2025 We delivered Strong growth of loan portfolio (+9.4% YoY) and deposit base (+14.1% YoY) in both retail and corporate client segments, translating into improvement of market shares Excellent financial results, with the highest net profit in history and record total revenues,
Slide 19: Overview of the results development in Q4 2025
02 Overview of the results development in Q4 2025
Slide 20: Summary of financial results in Q4 2025: Profit and Loss Account
Summary of financial results in Q4 2025: Profit and Loss Account PLN million Q4 2024 Q3 2025 Q4 2025 ∆ QoQ ∆ YoY Net interest income 2,512.9 2,511.4 2,482.5 -1.2% -1.2% Net fee and commission income 497.3 580.2 543.0 -6.4% +9.2% Net trading and other income 34.3 87.7 34.4 -60.8% +0.4% Total income 3
Slide 21: Summary of financial results in Q4 2025: Balance Sheet
Summary of financial results in Q4 2025: Balance Sheet PLN million 31.12.2024 30.09.2025 31.12.2025 ∆ QoQ ∆ YoY Total assets 245,957 261,538 280,253 +7.2% +13.9% Gross loans to customers 124,985 139,746 136,773 -2.1% +9.4% Individual client loans 70,589 76,860 78,526 +2.2% +11.2% Corporate client lo
Slide 22: Outlook for mBank Group for 2026
Outlook for mBank Group for 2026 We expect A slight decline of total revenues compared to 2025 driven by lower net interest income due to pressure from the continuation of rate cut cycle in Poland The Cost/Income ratio to remain below the strategic target of 35% thanks to disciplined cost management
Slide 23: Update on Poland’s macroeconomic situation and outlook
03 Update on Poland’s macroeconomic situation and outlook
Slide 24: Macroeconomic situation in Poland: GDP growth, inflation, rates
Macroeconomic situation in Poland: GDP growth, inflation, rates Consumption growth is likely to stay decent Unemployment rate (still) very low 20 12% 10 10% 0 8% -10 6% -20 4% -30 -40 2% Source: GUS Source: GUS -50 0% Jan.16 Jan.17 Jan.18 Jan.19 Jan.20 Jan.21 Jan.22 Jan.23 Jan.24 Jan.25 Jan.26 Jan.1
Slide 25: Macroeconomic situation in Poland: financial markets
Macroeconomic situation in Poland: financial markets Corporate loans and deposits (YoY, FX-adjusted) Household loans and deposits (YoY, FX-adjusted) 30% 14% 25% 12% 10% 20% 8% 15% 6% 10% 4% 5% 2% 0% 0% -2% -5% -4% Source: NBP Source: NBP -10% -6% 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 202
Slide 26: Macroeconomic forecasts and outlook for Poland
Macroeconomic forecasts and outlook for Poland Key economic indicators for Poland Main factors driving the performance in 2026 2023 2024 2025 2026F 2027F ▪ GDP growth in Poland is expected to reach 4.2% GDP growth (YoY) 0.2% 3.0% 3.6% 4.2% 3.3% in 2026, which should be a decent number without Domest
Slide 27: Appendix
Appendix
Slide 28: Consolidated Profit and Loss Account – quarterly
Consolidated Profit and Loss Account – quarterly Quarterly results (PLN thou.) Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Net interest income 2,512,930 2,469,778 2,555,378 2,511,415 2,482,453 Net fee and commission income 497,286 503,086 582,143 580,150 542,974 Dividend income 146 468 7,561 345 74 Net
Slide 29: Consolidated Statement of Financial Position – quarterly
Consolidated Statement of Financial Position – quarterly Assets (PLN thou.) Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Cash and balances with Central Bank 36,680,926 16,722,455 20,796,566 21,972,629 40,481,387 Loans and advances to banks 9,738,457 18,791,826 19,280,968 20,540,865 13,192,564 Trading sec
Slide 30: mBank Group’s financial ratios – quarterly and cumulatively
mBank Group’s financial ratios – quarterly and cumulatively Key financial ratios Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Net Interest Margin, quarterly 4.27% 4.29% 4.22% 3.97% 3.74% Net Interest Margin, YtD 4.35% 4.29% 4.25% 4.16% 4.05% Net Interest Margin, excl. CHF portfolio, YtD 4.39% 4.34% 4.30%
Slide 31: Quarterly results of mBank Group – Net interest income
Quarterly results of mBank Group – Net interest income Structure of mBank Group’s interest income Structure of mBank Group’s interest expense PLN million PLN million asset funding 6.4% 6.2% 6.1% 5.8% 5.4% yield 2.3% 2.2% 2.1% 2.0% 1.8% costs -5.3% -14.0% -2.2% 3,762.8 3,722.6 1,258.1 -4.6% 3,657.5 3
Slide 32: Quarterly results of mBank Group – Net fees and commissions
Quarterly results of mBank Group – Net fees and commissions Structure of mBank Group’s fee and commission income Structure of mBank Group’s fee and commission expense The fee result included: PLN million PLN million ▪ in Q3/25: settlement with a payment card organisation of PLN 41.6 million ▪ in Q2/
Slide 33: Selected Financial Data – Loan portfolio quality
Selected Financial Data – Loan portfolio quality mBank Group’s impaired loans portfolio mBank Group’s NPL ratio PLN million 4.1% 3.8% -6.6% 3.5% 3.5% NPL ratio 3.4% according to EBA +1.3% definition has remained 5,093 5,013 4,801 4,694 4,755 considerably below 5% 89 84 80 78 62 12/24 03/25 06/25 09/
Slide 34: Selected Financial Data – Balance sheet analysis
Selected Financial Data – Balance sheet analysis Structure of mBank Group’s total assets Structure of mBank Group’s liabilities and equity PLN billion PLN billion 280.3 280.3 256.2 261.5 256.2 261.5 21.4 7% 246.0 246.1 48.1 17% 246.0 246.1 10.2 4% 29.3 19.5 20.4 3.4 1% 28.3 17.8 18.5 10.8 13.6 24.6
Slide 35: Selected Financial Data – Structure of loans and deposits
Selected Financial Data – Structure of loans and deposits Structure of mBank Group’s gross loans, by client segment and industry Structure of mBank Group’s deposits 31.12.2025 31.12.2025 Real estate 4.6% 0.1% Building industry 4.4% 0.5% Professional activities 2.7% 18.3% 10.4% Food sector 2.6% 21.7%
Slide 36: Selected Financial Data – Funding profile
Selected Financial Data – Funding profile Structure of mBank Group’s funding Summary of mBank’s long-term funding instruments 31.12.2025 31.12.2025 (without covered bonds issued by mBank Hipoteczny) Nominal Issue Maturity Currency Tenor Coupon value date date Other Subordinated liabilities 4.0% NPS
Slide 37: Selected Financial Data – Capital requirements and liquidity
Selected Financial Data – Capital requirements and liquidity Regulatory capital requirements for mBank Group 31.12.2025 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 +4.32 p
Slide 38: Selected Financial Data – Fulfilment of MREL requirements
Selected Financial Data – Fulfilment of MREL requirements Development of mBank Group’s MRELTREA ratio Development of mBank Group’s MRELTREA Subordinated ratio +5.41 +5.48 24.73% 23.19% 24.63% 24.72% 24.84% 23.10% 21.70% 22.81% 22.93% 23.16% 19.43% 17.68% 4.07% 4.07% 15.36% 13.61% 12/24 03/25 06/25 0
Slide 39: Overview of customer activity and process digitalisation
Overview of customer activity and process digitalisation Users of mobile application Users of PFM functionalities Monthly active users (MAU) Corporate clients number of active users logging number of unique users, number of users performing number of customers serviced into every month, thousand tho
Slide 40: A leading mobile banking offer for individual clients
A leading mobile banking offer for individual clients Well-designed functionalities for client convenience Mobile application’s dashboard and basic features fully remote account opening with e-ID or a selfie and agreement approved via a text message easiest way to manage logging in and confirmation
Slide 41: Retail Banking – profit and network
Retail Banking – profit and network Profit before income tax of the segment Number of Retail Service Locations mBank CZSK PLN million -3 mBank CZSK Poland -9% 348 346 345 mFinanse1 excluding impact -16% -16% 43 42 42 of "credit holidays“ 40 mKiosks 1,201.4 1,157.6 40 40 1,067.6 1,026.1 970.0 30.2 80
Slide 42: Retail Banking – business volumes
Retail Banking – business volumes Development of gross loans to retail banking clients Development of deposits from retail banking clients PLN million PLN million +11.2% +15.9% +2.2% +7.4% 78,526 164,813 76,860 74,120 153,479 262 70,589 71,546 144,402 148,458 142,248 315 23,716 14% 296 340 24,990 32
Slide 43: mBank in the Czech Republic and Slovakia
mBank in the Czech Republic and Slovakia Gross loans and share in total mBank’s retail volume Deposits and share in total mBank’s retail volumes PLN million PLN million 13.1% 15.5% +13% +50% +1% +24% 9,737 10,181 10,300 25,619 9,153 9,242 20,721 4,612 3,180 3,273 3,272 17,033 17,051 17,806 3,052 3,0
Slide 44: mBank in the Czech Republic and Slovakia
mBank in the Czech Republic and Slovakia Mortgage loans Non-mortgage loans Customer deposits Czech Republic CZK million CZK million CZK million +9% +17% +61% physical network: light +3% 0% +30% 13 branches financial 6 centres 23,610 24,324 14,818 14,820 120,334 22,303 12,633 74,819 92,489 10 mKiosks
Slide 45: Best digital banking services for corporate clients
Best digital banking services for corporate clients First-class digital banking offer for companies Mobile application’s dashboard and basic features ▪ option to activate the app entirely digital onboarding process, with a QR code with no in-person contact and printouts required ▪ possibility to log
Slide 46: Corporate & Investment Banking – profit and network
Corporate & Investment Banking – profit and network Profit before income tax of the segment Number of corporate service locations – 31.12.2025 PLN million 2 2 Pomorskie 1 2 2 -15% Zachodnio- Warmińsko- Mazurskie Pomorskie 1 1 2 1 Podlaskie -16% 29 mBank’s branches, Kujawsko- Pomorskie 4 2 incl. 13 a
Slide 47: Corporate & Investment Banking – business volumes
Corporate & Investment Banking – business volumes Development of gross loans to corporates and public sector Development of deposits from corporates and public sector PLN million PLN million +7.1% +9.9% -7.4% +6.4% 62,556 62,886 64,333 59,888 60,483 990 7,237 58,246 58,561 57,266 7,042 56,215 964 54
Slide 48: Performance of main subsidiaries of mBank
Performance of main subsidiaries of mBank specialised mortgage bank offered financing in the form of offered services include and active issuer of covered leasing of cars, trucks, machinery domestic and export recourse bonds on both domestic and real estate as well as car and non-recourse factoring
Slide 49: Historical financial results of mBank Group
Historical financial results of mBank Group 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% Tot
Slide 50: ESG is well embedded in mBank Group's strategy
ESG is well embedded in mBank Group's strategy mBank Group’s sustainability targets for 2026-2030 Climate Economic Inclusive action momentum by design Developing a resilient business model Financing change and unlocking Shaping a workplace alongside credible transition plan economic potential for ev
Slide 51: Information about mBank's shares on the stock exchange
Information about mBank's shares on the stock exchange Parameters of mBank’s shares mBank’s share price performance v. main indices (rebased to 100) as of 31.12.2025 195 mBank’s share price +94.0% ISIN code PLBRE0000012 190 185 31.12.2024 547.2 Bloomberg MBK PW 180 MIN (02.01.2025) 545.8 (market clo
Slide 52: Disclaimer
Disclaimer This presentation has been prepared by mBank S.A. for information purposes only and is based on selected non-audited consolidated financial information of mBank S.A. Group for the fourth quarter of 2025, prepared under the International Financial Reporting Standards. For more detailed inf
Slide 53: Contact details
Contact details 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 mBank’s Investor Relations at your