SIGNING OF THE AGREEMENT BETWEEN CATTOLICA AND BANCO BPM

Verona, 9 November 2017

Following the press releases issued on 17 and 31 October and 3 November 2017, it is announced today that the agreement between Cattolica and Banco BPM has been finalised with the signing of the legal documentation. The agreement includes the acquisition by Cattolica of a 65% stake in Avipop Assicurazioni SpA and Popolare Vita SpA (the “Insurance Companies”) and the establishment of a 15 years commercial partnership in Life and Non Life bancassurance on the former Banco Popolare network. The valuation and consideration terms of the transaction are unchanged vs. the ones included in the press release issued on 3 November 2017. The Closing of the transaction, subject to regulatory approvals, is expected to take place in 1H 2018 and is in any case subject to the purchase by Banco BPM of the remainder of the shares of the Insurance Companies