Banca Carige S p A Cassa di Risparmio di Genova e Imperia : Outcome of fractional shares settlement

Courtesy translation for the convenience of international readers

In case of any inconsistency between the Italian and the English version, the Italian original version shall prevail

PRESS RELEASE

OUTCOME OF FRACTIONAL SHARES SETTLEMENT

Genoa, 15 March 2021 - Further to the press release issued on 26 February 2021, Banca Carige S.p.A. - Cassa di Risparmio di Genova e Imperia (hereinafter "Carige" or the "Bank") announces completion of the procedure for the cash settlement (the "Cash Settlement of Fractional Shares") of the fractions of ordinary and savings shares arising from the reverse split of Carige's ordinary shares (the "Ordinary Shares") and savings shares (the "Savings Shares"), which was resolved upon by the Extraordinary Shareholders' Meeting on 29 May 2020 and executed on 14 December 2020 (the "Reverse Stock Split"). The Bank additionally informs that the rounding-off period (the "Voluntary Rounding-offPeriod") has ended, within which the shareholders who, as a result of the Reverse Stock Split, still held fractions of Ordinary Shares (the "Fractional Ordinary Shareholders") and/or fractions of Savings Shares (the "Fractional Savings Shareholders" and, together with the Fractional Ordinary Shareholders, the "Fractional Shareholders") and could therefore benefit from the Cash Settlement of Fractional Shares were entitled to request Equita SIM S.p.A. ("Equita"), within the limits of Equita's actual availability, to round off their shareholdings in Carige, with Fractional Ordinary Shareholders purchasing up to 1 (one) of the new Ordinary Shares that had arisen from the consolidation of the Fractional Shares of this same class (each a "Consolidated Ordinary Share") and Fractional Savings Shareholders purchasing up to 1

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Courtesy translation for the convenience of international readers

In case of any inconsistency between the Italian and the English version, the Italian original version shall prevail

(one) of the new Savings Shares that had arisen from the consolidation of the Fractional Shares of this same class (each a "Consolidated Savings Share" and, together with the Consolidated Ordinary Share, the "Consolidated Shares"), at a cash consideration per share of either EUR 1.0366 for each Consolidated Ordinary Share (the "Ordinary Share Price") or EUR 21,250.30 for each Consolidated Savings Share (the "Savings Share Price"), as the case may be.

By the end of the Voluntary Rounding-off Period, Equita has received rounding-off requests from Fractional Shareholders for 174 Consolidated Ordinary Shares and 14 Consolidated Savings Shares. Settlement of the afore-mentioned buying and selling transactions will take place on 19 March 2021.

Upon conclusion of the Voluntary Rounding-off Period, 19,266 Consolidated Ordinary Shares (the "Remaining Ordinary Shares") and 3 Consolidated Savings Shares (the "Remaining Savings Shares" and, together with the Remaining Ordinary Shares, the "Remaining Shares") were still available to Equita.

Anyone interested may submit requests to Equita - exclusively through Depository Intermediaries - for the purchase of Remaining Ordinary Shares and/or Remaining Savings Shares from 6 April 2021 to 15 April 2021, both dates inclusive (the "Expression of Interest Period"). The Remaining Shares may be purchased by Equita, still within the limits of their actual availability, at a cash consideration corresponding to either the Ordinary Share Price or the Savings Share Price, as the case may be.

The allotment procedure for the Remaining Shares will be published on the Group's website www.gruppocarige.it.

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Courtesy translation for the convenience of international readers

In case of any inconsistency between the Italian and the English version, the Italian original version shall prevail

Settlement of all Remaining Shares buying and selling transactions will take place on 23 April 2021.

As was previously announced, in view of the foregoing and for the sole purpose of the Reverse Stock Split, the Bank has undertaken to ensure that, by 30 June 2021, the Remaining Shares which Equita has not, in the meantime, disposed of and hence are still in its portfolio, be purchased by one of Carige's subsidiaries by means of a buy-back transaction to be carried out in compliance with the applicable statutory and regulatory requirements (including in consideration of the specific and limited purpose of the transaction) against a cash consideration per share equal to either the Ordinary Share Price or the Savings Share Price, as the case may be.

Finally, please note that (i) trading of the securities issued by the Bank on Italy's regulated markets and multilateral trading systems is still suspended as per Consob resolution No. 20772 of 2 January 2019; (ii) by notice No. 32677 of 11 December 2020, Borsa Italiana S.p.A. has resolved to integrate the reasons for the suspension of Carige's Savings Shares from trading on the Electronic Stock Market ("MTA") until further notice; and (iii) the Ordinary Share Price and the Savings Share Price were determined for the purposes of the resolutions pursuant to which, on 29 May 2020, the shareholders' meeting of the Bank approved the proposal for the optional conversion of the Savings Shares into Ordinary Shares and subsequent Reverse Stock Split. Said consideration amounts are therefore not expressive of a market price for the relevant securities.

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