Standards applied by the Bank

Mission, Vision and Values

Our corporate social responsibility activities and principles are embodied by the Bank’s plans and the Group’s updated growth strategy for 2015-2017. It is the priority of the Bank to conduct its business in a sustainable way on the basis of trust and observance of ethical principles and openness and dialogue with all stakeholder groups.

Vision

We are part of a financial group with a transnational identity whose actions are focused on value creation in core business areas in markets with distinct profiles based on excellent quality and innovation in the creation and distribution of financial products and services.

Mission

Our mission is to create value for customers by offering superior quality financial products and services, while complying with rigorous standards of conduct and corporate responsibility and facilitating stable and effective growth to provide shareholders with steady growth in the value of their capital.

Values

Trustworthiness: the Bank must observe high ethical standards and take responsibility for its actions;

Openness to the Customer: learning and meeting customers’ expectations and needs;

Ethics and Responsibility in action;

Excellence: high quality of services rendered;

Innovation: striving and searching for new solutions in customer service and on the financial market;

Respect for stakeholders.

G4-56

Ethical Standards

Internal codes of conducts are guidelines for employees setting the standards for professional and ethical conduct. Every employee must become familiar and observe the rules prescribed by the Code of Ethics and the Book of Standards in everyday work.

The Bank Millennium Code of Ethics describes the values and general principles that should provide guidance to the Bank's employees and business partners in their cooperation with the Bank. The document contains the requirements that should govern relations with the internal and external environment (including clients, suppliers, the market) and the rules relating to the observance of human rights and to the running of business activity in a transparent and honest manner (including ethical lobbying, ban on corruption, rules for representing the Bank in contacts with public institutions and political parties). The Code also describes a procedure for reporting unethical behavior through the Whistleblowing system.

Every employee is obligated, by completing a mandatory e-learning course, to become familiar with the Code, confirm its knowledge and apply the rules included in the Code in their daily work.

The Code of Ethics is also provided to the Bank’s suppliers. Every supplier taking part in a tender procedure must undertake to observe the rules included in the Bank’s Code of Ethics, by signing a representation to that effect.

Books of Standards for Bank Millennium Group employees – are collections of good practices which, when observed, will ensure high quality of service for clients and ethical selling and facilitate cooperation between employees.

Compliance Policy The laws, principles and standards pertaining to compliance concern matters such as: observance of appropriate market behaviour standards, managing conflicts of interest, fair treatment of clients and providing them with appropriate advice.

G4-56, 54-57, G4-58

External regulations observed by the Bank

The Bank conducts its operations on a regulated market and observes the legal principles and the regulations applicable to banks. From the vantage point of the subject of this report, the following regulations must be mentioned:

Code of Ethics in Advertising – defined by the Advertising Council is a set of principles that should govern the behavior of advertisers in Poland. The employees of Bank Millennium, when making decisions related to advertising, are formally obligated to observe the provisions of the Code.

Corporate Governance Principles is a collection of standards which together form the system of governance and control over the company, specifically with respect to the rights of particular corporate bodies of the company. The legal framework of the process of developing corporate governance principles for all public companies is provided by the Warsaw Stock Exchange regulations, in particular the “Best Practices for WSE Listed Companies” adopted by the Stock Exchange Board.

Best Practices in Banking - the document issued by the Polish Bank Association describes the rules of behavior of banks to their customers and other banks, the rules of behavior for a bank employee and also principles to govern advertising, personal data processing and handling of customer complaint and claims.,

MIFID Directive - the Bank observes the requirements of the MiFID Directive (Markets in Financial Instruments Directive), the aim of which is to protect clients' investments, increase consistency and transparency of operation of banks and increase competition on the market for financial instruments.

G4-56, G4-57, G4-15