Mediobanca S p A : Treasuey share buyback completed

Mediobanca hereby gives notice that on 25 March 2020, the treasury share buyback scheme which it launched on 8 November 2018 and disclosed to the market on the same date was ended. The buyback's objective was to equip the Bank with an instrument to provide flexibility in operational terms, to allow it to use treasury shares in connection with possible acquisitions, or to implement compensation schemes based on financial instruments for the benefit of Group staff.

The buyback was conducted on the terms authorized by the Bank's shareholders at the Annual General Meeting held on 27 October 2018 and by the European Central Bank. In particular, Mediobanca now owns 26,611,288 treasury shares, equal to approx. 3% of the company's share capital, the maximum limit permitted by the scheme. In accordance with the transparency regulations in force, the individual trades executed have been disclosed to the public at monthly intervals, starting from the month after the buyback was launched, and have all been published on the Bank's website.

The purchases have been made exclusively on the Mercato Telematico Azionario operated by Borsa Italiana. In accordance with the resolution authorizing the buyback adopted by shareholders in general meeting, the minimum buy price has never been lower than the shares' par value of €0.50 per share, and the maximum buy price has never been more than 5% higher than the closing price for Mediobanca shares in each market session on the day prior to the date on which the individual acquisition was made. The provisions of Commission Delegated Regulation (EU) 2016/1052 on the volumes and prices of shares acquired have also been respected, as has the obligation to refrain from trading in the 30 days prior to the announcement of the annual results or an interim report being approved (the 'Black-Out Period')

As provided by Article 2357 of the Italian Civil Code, the purchases have been made within the limits of distributable earnings and available reserves.