Ordinary General Shareholders’ Meeting of Bank Millennium

— Bank Millennium achieved a net profit of PLN 561 million in 2019, which shows our effectiveness in implementing the organic growth strategy. The past year has been very intensive period, devoted mainly to the merger with Euro Bank, but we also managed to launch, among others new generation banking personalized for each client, a new internet and mobile banking service and implement the PSD2 directive. After completion of the merger and attaining business goals, at the end of 2019 the Bank Millennium Group had assets of PLN 98.1 billion, equity of PLN 9 billion and served 2.6 million active retail clients — says Joao Bras Jorge, President of the Management Board of Bank Millennium. — The first quarter of 2020 put us all, as a sector, as citizens and as employers, face an extremely difficult challenge, which is to stop the epidemic threat and the risk of developing coronavirus in Poland and in the world. Despite this unique situation, while maintaining all security rules, our branches are open, online and mobile banking operate as usual, and ATMs are replenished with cash on a regular basis. It is a time of special care for our employees, clients and local communities, in which we operate. We actively participate in banking sector initiatives aimed at supporting citizens and the Polish economy, including offering free of charge three-month credit holidays to retail customers, who are in a difficult situation due to the epidemic. We are also in constant contact with corporate clients and support them in this extremely demanding time — adds the president.

203 shareholders were represented at the General Meeting, which corresponds to 69.09% of the Bank's shares. The shareholders, having become acquainted with the information on the activities of the Bank and the Bank's Capital Group in the past financial year, presented by Joao Bras Jorge, President of the Bank's Management Board, considered and adopted resolutions on:

• election of the Chairperson of the General Meeting,
• approval, for 2019 financial year, of the financial report of Bank Millennium S.A. and combined Management Board Report on Activity of Bank Millennium S.A. and Bank Millennium S.A. Capital Group together with the combined report concerning non-financial information of Bank Millennium S.A. and Bank Millennium S.A. Capital Group,
• approval of the financial report of Bank Millennium S.A. Capital Group for 2019 financial year,
• approval of the Supervisory Board Report on Activity in 2019 and assessment of the remuneration policy in Bank Millennium S.A.,
• distribution of profit for 2019 financial year,
• discharge of Members of the Bank’s Management Board and Supervisory Board from performance of their duties in 2019 financial year,
• amendments to the Articles of Association of the Bank.

The General Meeting also reviewed and approved the Supervisory Board Report on Activity in 2019 and assessed the remuneration policy in Bank Millennium S.A.

The Shareholders discharged all Members of the Bank’s Management Board and Supervisory Board from performance of their duties in 2019 financial year..

Taking into account the KNF position on banks’ dividend policy in 2019, presented in December 2019, and bearing in mind the takeover of Euro Bank S.A. conducted in 2019 (without issue of shares) and later merger with that bank, the Bank’s Management Board presented to the General Meeting a proposal to retain the entire net profit generated in 2019 in the Bank’s equity, also to cover the effect of the settlement of the merger with Euro Bank S.A.

The full wording of the resolutions of the Ordinary General Shareholders’ Meeting of Bank Millennium is available on the Bank’s website: https://www.bankmillennium.pl/about-the-bank/general-shareholders-meetings.

The GMS was held in compliance with all the safety rules resulting from the recommendations of the Chief Sanitary Inspectorate (GIS) and the Ministry of Health.