THE CONDITIONS PRECEDENT FOR THE ACQUISITION OF BMPS' NPL RECOVERY PLATFORM HAVE BEEN FULFILLED

Financial

PREPARATORY ACTIVITIES ARE UNDERWAY TO COMPLETE THE TRANSACTION BY THE END OF MAY 2018

Milan-Siena, 4 May 2018 – Banca Monte dei Paschi di Siena SpA (“BMPS”), Cerved Group SpA (“Cerved”) and Quaestio Holding SA (“Quaestio”) announce that the conditions precedent to complete the purchase of BMPS' NPL recovery platform (“Juliet”) have been met by the special-purpose entity set up by Cerved and Quaestio.

As specified in the joint press release of 2 August 2017, the transaction's closing was subject to certain conditions which, in addition to approval by the supervisory authority, included the successful completion of the precautionary recapitalisation process provided for in the Restructuring Plan and the securitisation of BMPS' non-performing loans with subscription of the mezzanine notes by funds managed by Quaestio.

Considering that these conditions have been met, BMPS, Cerved and Quaestio have begun preparatory activities to complete the transaction by the end of May 2018.

****

Founded in 1472, Banca Monte dei Paschi di Siena is considered to be the world's oldest bank. Today it leads one of the major Italian banking groups with significant market shares across all areas of business. The Montepaschi Group is active across Italy and in the major international financial markets with operations ranging from traditional banking services to private banking and corporate finance, with a particular focus on households and small and medium-sized enterprises.

Quaestio operates in the asset management sector with regulated activities in Italy and Luxembourg, focused on an institutional client base, with approximately 10 billion Euros of assets under management. The company is held by leading Italian institutions, which include the Cariplo Foundation and the Italian Pension and Assistance Fund for Freelance Surveyors, with a significant stake held also by senior management. The group operates with a global perspective, identifying and managing the best investment opportunities across the world's major markets. Quaestio holds 100% of Quaestio Capital Management SGR SpA (“Quaestio SGR”), which has developed significant asset management know-how in liquid and illiquid markets through mandates carried out directly and indirectly via an innovative multi-asset and multi-manager platform, with UCITS and FIA funds which use a pool of 35 managers selected from the best international operators. In the sector of illiquid investments, the SGR has developed a leadership position in Italy in structuring and investing in NPL, UTP and leasing securitisation transactions.

Cerved is a leading credit risk information provider in Italy and one of the major credit rating agencies in Europe. It offers the most comprehensive range of products and services used by more than 30 thousand companies and financial institutions to assess the solvency and creditworthiness of its stakeholders, manage credit risk in all its phases, and accurately define marketing strategies. Furthermore, through Cerved Credit Management, Cerved is a leading independent player in offering solutions for the evaluation and management of credit exposures.

****

Contacts

Banca Monte dei Paschi di Siena SpA

Media Relations

Tel. +39 0577 296634

ufficio.stampa@mps.it

Investor Relations

Tel. +39 0577 293038

investor.relations@mps.it

Cerved Group SpA

d’I Comunicazione

Tel. +39 335 1753472