Directive 2004/39/CE in respect of markets for financial instruments and the regulations enacting it (jointly, “MiFID”), transposed into Italian law on 1 November 2007, stipulates, inter alia, that intermediaries are required to adopt all suitable measures to ensure the best possible results (“best execution”) for their customers (retail or professional) in the provision of investment services of order receipt and transmission and order execution on behalf of customers.

Mediobanca has prepared and adopted an order execution and transmission strategy which is shown below.