PRESS RELEASE

START OF THE EXERCISE PERIOD

OF THE WARRANTS BANCA CARIGE S.P.A. 2020-2022

Genoa, 27 January 2022 - Banca Carige ('Carige' or 'the Bank') informs that the exercise period of the "Warrants Banca Carige S.p.A. 2020-2022" ('the Warrants') issued within the Capital Strengthening transaction approved by the Shareholders' Meeting on 20 September 2019 will start on 1 February 2022.

The Warrants (ISIN IT0005386567) will be exercisable, both dates inclusive, over the following exercise period ('Exercise Period'): from 1 February 2022 to 28 February 2022 ('Exercise Deadline').

Pursuant to the Warrants' Terms and Conditions approved by the Bank's Shareholders' Meeting on 20 September 2019, during the Exercise Period, Banca Carige ordinary shares ('Conversion Shares') can be subscribed by exercising the Warrants, at a ratio of 1 (one) Conversion Share for every 1,000 (one thousand) Warrants held and exercised taking into account the reverse split of ordinary shares effective as of 14 December 2020, at a ratio of 1 (one) new ordinary share for every 1,000 (one thousand) existing ordinary shares.

The exercise price of each Conversion Share is equal to EUR 0.3807 (the 'Exercise Price') and, pursuant to the Warrants' Terms and Conditions, corresponds to 50% of the Market Value of Carige ordinary shares calculated as the average of the official prices of Carige ordinary

shares during the survey period as defined in compliance with the Warrants' Terms and Conditions, running from 13 December 2021 to 26 January 2022.

Subscription requests shall be submitted on bank business days and within the Exercise Deadline, to the intermediary registered with Euronext Securities Milan, where Warrants are held. The Conversion Shares, with dividend entitlement equal to those of the outstanding shares as at the delivery date, will be made available by Carige through Euronext Securities Milan on the settlement day following the Exercise Deadline, without prejudice to prior Carige assessment of the Exercise Price payment.

At the submission of the subscription request, the Warrant holder: (i) shall acknowledge that the shares subscribed by exercising the Warrants are not registered under the Securities Act of 1933, as amended, in force in the United States of America; (ii) shall declare not to be a "U.S. Person" as defined by "Regulation S". No subscribed shares by exercising the Warrants will be allotted to Warrant holders not meeting the conditions described above.

Warrants not exercised by the Exercise Deadline shall expire, becoming definitively invalid to all effects and purposes.

For further information, please, refer to the Warrants' Terms and Conditions published on the Bank's website: www.gruppocarige.it- Investor Relations Section - Capital Strengthening 2022, together with the additional documents related to the Warrants' exercise transaction.

In this regard, the Bank also announces that the notice to the Warrant holders in relation to the Warrants exercise will be published tomorrow, 28 January 2022, in the Italian financial daily "Milano Finanza", on the Bank website (www.gruppocarige.it), and on the authorised storage portal "eMarket STORAGE" (www.emarketstorage.com).

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INVESTOR RELATIONS & RESEARCH

COMMUNICATIONS

tel. +39 010 579 4877

tel. +39 010 579 3380

investor.relations@carige.it

relazioni.esterne@carige.it

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Banca Carige S.p.A. Cassa di Risparmio di Genova e Imperia published this content on 27 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 January 2022 16:37:15 UTC.