Press release

Siena, 29 October 2020 – The Board of Directors of the Bank, held today under the chairmanship of Patrizia Grieco, with the support of its advisors, carefully examined the operative part of the ruling of criminal proceeding 955/16, which resulted in the convictions of former Chairman, Mr. Alessandro Profumo, former CEO, Mr Fabrizio Viola, and former Chairman of the Board of Statutory Auditors, Mr. Paolo Salvadori and the Bank as the entity with administrative liability pursuant to and for the purposes of Legislative Decree 231/01. In view of the investigations conducted, pending the reasons for the ruling itself and based only on the contents of the operative part of the ruling, the Bank has in any case deemed it appropriate to change the classification from "possible" to "likely" of a series of legal disputes and out-of-court requests. In accordance with the provisions of the international accounting standard IAS 37, the Bank does not provide information on the amount of provisions allocated, in line with what has already been done in the past.