Banca Popolare di Milano : Termination of the Anima agreement, merger with Banco Popolare

PRESS RELEASE

• TERMINATION OF THE ANIMA AGREEMENT
• MERGER WITH BANCO POPOLARE

Milan, 14 October 2016 - With reference to the shareholders' agreement signed by Banca Popolare di Milano Scarl and Poste Italiane SpA on 26 June 2015 (the "Agreement"), under which the parties conferred and tied all of the shares held by them in Anima Holding S.p.A., notice is hereby given that the Management Board of the Bank today took note of the termination of the Agreement received from Poste Italiane SpA. In light of the above, we would therefore like to announce that it will cease to have effect between the parties from 16 April 2017, the original expiration date of the Agreement.

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With reference to the merger between BPM and Banco Popolare Soc. Coop. ("Merger"), it should be noted that today the Management Board - following the respective shareholders' meetings scheduled for tomorrow, to which approval of the Merger will be submitted - resolved to commence the preparatory activities for the setting up of "Fondazione Banca Popolare di Milano", as part of the overall Merger, envisaged in art. 5 of the Articles of Association of the company resulting from the Merger and that, in line with BPM Scarl's traditional commitment and within the context of the new group arising from the Merger, will from the start perform the support activities for the civil and social fabric of Bank's territory of reference with the involvement of all its stakeholders.

For information:

Investor Relations and Research

Roberto Peronaglio

+39 02.77.00.2057

[e-mail]

Communication

Matteo Cidda

+39 02.77.00.7438

[e-mail]

Press Office

Monica Provini

+39 02.77.00.3515

[e-mail]