Shareholders' meeting of 30 April 2022: approval of the list of candidates by the Board of Directors for the election of five directors for the three-year period 2022/2024

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PRESS RELEASE

Shareholders' meeting of 30 April 2022: approval of the list of candidates by the Board of Directors for the election of five directors for the three-year period 2022/2024

In relation to item 5) on the agenda of the Shareholders' Meeting of Banca Popolare di Sondrio of April 30, 2022, on the subject: "Appointment of five directors for the three-year period 2022-2024", please note that the Board of Directors, pursuant to Article 23 of the Articles of Association, in today's meeting, unanimously and in the absence of the directors personally concerned, approved the composition of its list of candidates.

The candidates were selected in full compliance with current regulations, taking into account the assessments that emerged in the self-assessment process of the Board of Directors, and the criteria set out in the document "Optimal quali-quantitative composition of the Board of Directors of Banca Popolare di Sondrio" approved on January 28, 2022 and published on the Bank's website. The proposal was put forward by the ad hoc Committee set up, made up for the most part of independent directors, including its chairman. In this regard, the aforementioned Committee was supported by a primary external advisor with whom it shared the process of candidate selection.

The Board approved the candidates taking into account both the need for continuity, in order to be able to count for the future on the effective contribution of members who have contributed to the company's growth over the years, and innovation, by including high-profile candidates who, thanks to their diverse skills and experience, will be able to offer significant contributions to the performance of Board functions and to maintaining the overall suitability of the Board. In particular, the two new personalities proposed will be able to ensure in-depth skills and knowledge in extremely topical areas such as corporate governance and knowledge of technology in the evolution of the banking and payments sectors.

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Banca Popolare di Sondrio

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The list of candidates is as follows:

• 1) prof.avv. Francesco Venosta (Chairman of the Board of Directors since 26 April 2014), indicated as Chairman;

• 2) dott. ing. Federico Falck (Current director);

• 3) avv. Anna Doro, indipendent;

• 4) dott. ing. Nicola Cordone, indipendent;

• 5) dott.ssa prof.ssa Serenella Rossi, indipendent (Current director).

On this occasion, the management would like to thank directors Cristina Galbusera and Domenico Triacca for their active contribution to the bank's growth over many years.

The list and the candidates' documents will be made available to the public in the next few days, within the legal deadline, at the company's registered office, on the authorised storage mechanism eMarket STORAGE(www.emarketstorage.com)and on the company's website at the addresshttps://istituzionale.popso.it/it/investor-relations/assemblea-dei-soci.

BANCA POPOLARE DI SONDRIO

Sondrio, 31 March 2022

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Company contacts:

Investor Relations Michele Minelli [e-mail] relations Paolo Lorenzini [e-mail] Building Cristina Fossati Anna Pirtali [e-mail]

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Banca Popolare di Sondrio

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The English translation is provided only for the benefit of the reader and in the case of discrepancies the Italian version shall prevail.

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Banca Popolare di Sondrio