Banca Monte dei Paschi di Siena shareholder's meeting

​The Ordinary Shareholders’ Meeting of Banca Monte dei Paschi di Siena, held today and chaired by Mr. Alessandro Falciai, approved:

• the separate and consolidated financial statements at 31 December 2016;
• the remuneration report;
• the "performance shares" plan in favour of the employees of the Monte dei Paschi di Siena
• Group;
• the proposal to reduce the number of members of the Board of Directors (from 14 to the
• current 13 members).

The Bank ended 2016 with a loss of EUR 3,722,770,706.06, already covered for EUR 1,398,720,205.16 as a result of the share capital reduction decided by the Extraordinary Shareholders’ Meeting of 24 November 2016.

The Shareholders’ Meeting also approved the remuneration report, as provided for in Art. 123-ter of Legislative Decree no. 58 of 24 February 1998 (the “Consolidated Financial Act”), and the “performance shares” plan in favour of the employees of the Monte dei Paschi di Siena Group, pursuant to Art. 114-bis of the Consolidated Financial Act.

As for the Extraordinary Shareholders’ Meeting, called to vote on the proposal to reduce the share capital in order to cover the remaining losses (of EUR 2,324,050,500.90) as at 31 December 2016 and on the amendments to the company’s By-laws, the quorum for its regular constitution was not reached and therefore no resolutions were adopted.

Pursuant to para. 2, article 154-bis of the Consolidated Law on Finance, the Financial Reporting Officer, Mr. Nicola Massimo Clarelli, declares that the accounting information contained in this press release corresponds to the underlying documentary evidence and accounting records.