FinecoBank S p A : PR - Total Net Sales March 2021

PRESS RELEASE

MARCH TOTAL NET SALES € 1.2 BN, AUM AT 62%. IN 1Q21 OVER € 3.3 BN

BROKERAGE, RECORD REVENUES ESTIMATED IN 1Q21

• March net sales at € 1.2 billion. Asset under Management at € 713 million
• Net Sales YTD at € 3.3 billion. Asset under Management at € 1.9 billion
• FAM: March retail net sales at € 355 million, assets at € 17.9 billion
• Brokerage: estimated revenues in March at € 24 million

Milan, April 7th, 2021

Fineco recorded very strong total net sales in March, reaching € 1.2 billion (+13% compared to € 1 billion a year ago), gathered without short-term commercial initiatives and confirming its entrance in a new dimension of growth. The asset mix records a strong contribution of Asset under Management, equal to € 713 million in the month (compared to € -791 million in March 2020) and to € 1.9 billion in the first quarter, representing 57% of total net sales. In the month of March, Asset under Custody were equal to € 359 million and deposits stood at € 80 million.

March also confirmed the structural acceleration of Brokerage, thanks to the reshaping of our offer as well as the enlargement of our base of active clients. Revenues were estimated at € 24 million (-21% y/y compared to the record high level of March 2020), with a strong component coming from executed orders on foreign markets. Estimated total revenues in 1Q21 reached € 65 million, which would represent a new high for a quarter, even without the spike in volatility experienced in the previous year.

MORE INVESTMENTS, LESS DEPOSITS

ESTIMATED BROKERAGE REVENUES AT RECORD LEVEL

Alessandro Foti, CEO and General Manager of FinecoBank, commented:

"Fineco records solid total net sales also in March, confirming the ability of the Bank and of our personal financial advisors to concretely support clients in their investment needs. In particular, the strong growth in asset under management and the simultaneous reduction of deposits recorded in the first quarter of the year confirm the effectiveness of the new initiatives launched by the Bank to move liquidity into more sophisticated, efficient and quality solutions. At the same time, brokerage results, with revenues in line with 2020 high levels, confirm that clients are more focused in mid-long term investment goals and less influenced by market volatility."

figures in € million
TOTAL NET SALES	MAR 2021	MAR 2020	JAN-MAR '21	JAN-MAR '20
Assets under management	713.1	-791.1	1,870.3	-233.6
Assets under custody	358.7	828.7	764.7	1,013.3
Direct deposits	80.3	983.5	672.7	1,335.2
TOTAL NET SALES	1,152.1	1,021.0	3,307.6	2,115.0

TOTAL FINANCIAL ASSETS	MAR 2021	DEC 2020	MAR 2020
Assets under management	48,018.2	45,381.5	35,516.4
Assets under custody	20,347.2	18,313.7	13,485.3
Direct deposits	28,686.6	28,014.0	26,924.9
TOTAL FINANCIAL ASSETS	97,052.0	91,709.1	75,926.6

Over 12,800 new clients in March, in 1Q21 +76% y/y

In March, 12,851 new clients were acquired (+95% y/y), confirming the accelerating trend and an increase in average Total Financial Assets of new current accounts, after the introduction of the Smart Repricing on our banking services in 2020. From the beginning of the year, new clients were 39,204 (+76% y/y). Total number of clients reached 1,390,054 as of March 31st, 2021.

FAM, retail net sales at € 355 million, assets at 17.9 billion

Fineco Asset Management retail net sales in March amounted to € 355.4 million, with a strong interest by our clients for FAM Series family. As of March 31st, 2021 FAM managed € 17.9 billion of assets, of which € 11.5 billion retail class (+50% y/y) and € 6.4 billion institutional class (+35% y/y).

Total Financial Assets above € 97 billion. Private Banking close to € 42 billion

Total Financial Assets were equal to € 97.1 billion (+28% y/y). In particular, TFA related to Private Banking were at € 41.8 billion, increasing by 45% compared to € 28.8 billion in March 2020.

Net sales in Guided Products & Services stood at € 664 million in March, compared to € -448 million in March 2020. The penetration rate of Guided Products reached 74% on total Asset under Management compared to 72% in March 2020.

figures in € million

PFA NETWORK NET SALES	MAR 2021	MAR 2020	JAN-MAR '21	JAN-MAR '20
Assets under management	705.9	-756.9	1,848.6	-203.8
Assets under custody	215.3	629.1	508.3	792.3
Direct deposits	160.9	930.2	641.5	1,330.8
TOTAL NET SALES	1,082.1	802.4	2,998.4	1,919.3

PFA NETWORK TFA	MAR 2021	DEC 2020	MAR 2020
Assets under management	47,520.0	44,893.8	35,137.8
Assets under custody	15,157.6	13,622.9	10,143.2
Direct deposits	21,768.8	21,127.2	20,538.5
TOTAL FINANCIAL ASSETS	84,446.3	79,644.0	65,819.5

FinecoBank

FinecoBank is one of the most important FinTech banks in Europe. Listed on the FTSE MIB, Fineco offers an unique business model in Europe, combining advanced platforms with a large network of financial advisors. It offers a single account with banking, trading and investment services, through transactional and advisory platforms developed with proprietary technologies. Fineco is a leading bank in brokerage in Europe, and one of the most important players in Private Banking in Italy, offering advanced and tailor-made advisory services. Since 2017, FinecoBank is in the UK with an offer focused on brokerage, banking and investment services. Fineco Asset Management was founded in Dublin in 2018, with the mission to develop investment solutions in partnership with top international asset managers.

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