Mediobanca BoD - Financial statements for three months ended 30 September 2023 approved

Record quarterly results
Positive start to 2023-26 Strategic Plan
“One Brand - One Culture”

RECORD 3M PROFIT

Revenues of over €860m in 1Q, more than €100m higher than last year

Net interest income ~€500m (up 25% YoY¹ and up 5% QoQ adj.), fees consistent with previous two quarters (~€180m), strong contribution from Insurance (~€140m)

Net profit €351m, with EPS 3M €0.41 (up 34% YoY, up 49% QoQ)

Profitability increasing further: ROTE 14%, RORWA 2.8%

Robust capitalization: CET1² 15.5%

High stakeholder remuneration: 70% cash payout + €0.2bn buyback³
(fully deducted from CET1)

POSITIVE START TO NEW PLAN IN 3M

WM – Growth prioritized at Group level, distinctive positioning in Private Investment Banking

WM: TFAs up €8bn in 12M to €89bn
€1.8bn in NNM for 1Q in AUM/AUA (50% qualified),
Record revenues (~€220m) and earnings (~€50m)
Profitability increasing (RORWA 3.5%)

CIB – Focus on growth in K-light activities

RWAs down 21%
Effective co-operation with Private Banking
Partnership with Arma completed
Asset quality at best-ever levels

CF – Growth through multichannel leadership and independent distribution

New loans solid (€1.9bn), BNPL up 2x, more than 80% of personal loans distributed through proprietary network, 33% “digital”
Asset quality normalizing in line with expectations (CoR 165 bps), profitability high (RORWA 2.7%)

INS – High contribution decorrelated from other businesses

Revenues up sharply, driven by non-life business, net profit €137m,
RORWA 4.2%, AG investment book value stable at €3.5bn

HF – Active A&L management

Group net interest income up 25% YoY and up 5% QoQ adj. to ~€500m
Comfortable funding position, tactical increase in banking book investments, regulatory ratios high

SUSTAINABILITY

Second TCFD⁴ report with expanded NZBA scope and two new sector targets (aviation and cement)

€500m SNP Sustainable bond issue (50% of 2023-26 Strategic Plan target)