Press Release

With reference to the alleged falsehoods attributed to Dr. Nagel in today’s press release by the Caltagirone Group, the following clarifications are provided.
During the analyst conference held on July 14, Dr. Nagel stated that there were several anomalies related to the Public Exchange Offer (OPS) promoted by MPS, specifically:

“The third anomaly concerns the preparatory phase of the Monte Paschi Shareholders’ Meeting. We observed that, in the lead-up to this meeting, approximately 10–12% of the share capital was acquired. As a result, the share price increased. The buyers included the second-largest shareholder of Mediobanca and several pension funds—Italian pension funds. These same buyers appeared at Mediobanca ahead of the Shareholders’ Meeting on June 16.”

Regarding this statement, it should be noted that CONSOB announced on December 3 that the Caltagirone Group had exceeded the 5% threshold in MPS’s share capital. On February 27, 2025, the newspaper La Stampa reported—based on financial sources and never denied—that the stake had increased to 8%. This was followed by confirmation, as recorded in the minutes of the Monte dei Paschi di Siena shareholders’ meeting on April 17, that Caltagirone’s stake had risen to 9.96%.

Therefore, the statement that the Caltagirone Group made significant purchases ahead of the MPS shareholders’ meeting—tripling its stake from November 2024 to April 2025—is entirely accurate. It is also worth noting that Enpam and Enasarco were not present in MPS’s share capital during the 2024 meeting, whereas they held 2% and 1.8% respectively at the April 17 MPS meeting.

As for the claim that Dr. Nagel commented on the price of the “ABB procedure through which, on November 13, 2024, the Ministry of Economy and Finance (MEF) sold shares in MPS,” it is clarified that no such comment was ever made.

Milan, 17 July 2025