Illimity Bank S p A : 4Q20 and FY20 Results Presentation

4Q20 & FY20 results

11 February 2021

-

fully meets themid-year guidance

, +35% yoy and +20% qoq

confirms to be

and 18.4% pro-forma;

exceeding

-

Notes: Non accounting figures; (1) This aggregate includes the SME loans granted/purchased, distressed credit investments booked, senior financing loans granted in the period and the value of the deals signed but yet to be booked, owing to a settlement structure based on multiple tranches or to a time lag between the signing of the master agreement and the date of loan disbursement/onboarding. This aggregate additionally includes part of the net loans to existing customers of BIP, due to their features considered consistent with illimity's SME segment for about €54mln. It includes also portfolios sold; (2) Deals in final stage of the formalization of the agreement/contractual terms; (3) Specific business opportunities for which the bank envisages there is a reasonable expectation to close the transactions in the forthcoming months; (4) Including BIP core SME for about €54mln; (5) It also includes financial instruments, such as quasi-equity instruments which are accounted for in the balance sheet item "20. c) Other financial assets mandatorily at fair value" for 3

accounting purposes corresponding to the investments in energy distressed credit; (6) Net Book Value at 31 January 2021; (7) Turnover related to Factoring only for the year 2020; (8) Credit line to be granted; (9) The

AUM of the servicing unit includes the gross book value of distressed credit and the value of property and capital goods managed by IT Auction, net of cash flows and portfolio disposals.

-

with a landmark transaction

set-up devoted to. UTP fund close to launch

Lead position inas a combination of customer engagement capability ofand wide customer base in HYPE

Successful debut in fixed income institutional markets with

-

- in some cases ahead of ourinitial expectations

fueled by business generated in 4Q20and strong pipeline

of all our core businesses

in the

4Q20 and FY20 financial review

Francesco Mele, CFO & Head of Central Functions

- FY20 mid-year guidance fully met

Strong revenue growth with steady progression in net interest income

SME Division: strong acceleration in business origination driving growth in net commission

DCIS Division: steady profits from closed positions and continuous performance in cash flow

Costsincrease in 4Q20 reflecting growth in business and the anticipated early investments in new initiatives

Provisions in 4Q20 reflecting strong asset quality and new origination backed by public guarantees

- Business assets grow steadily

Data in €mln

1 2

Reclassified Balance sheet

Cash and cash equivalent

Due from banks and other financial institutions Customer loans

• - DCIS1 investments

• - DCIS1 senior financing

• - SME2

  • - Cross-over & Acq. Finance2

  • - High yield bond

  • - Turnaround

  • - Factoring

• - Non-core former Banca Interprovinciale

Financial assets Held To Collect (HTC) Financial assets Held To Collect & Sell (HTCS)3

Financial assets measured at FVTPL4 Goodwill

Intangible assets

Other assets (Incl. Tangible and tax assets)

Total assets

Due to banks Due to customers Bond/SecuritiesShareholders' Equity Other liabilities Total liabilities

5 Common Equity Tier 1 Capital

Risk Weighted Assets

Robust liquidity profile: over €980mln between cash, net adjusted interbank position and liquidity buffers also on the back of bond placement

Net customer loans up 20% qoq and +35% yoy with strong contribution from both SME and DCIS divisions. High yield bond portfolios unwound due to reorganisation under broader investment desk and tactical profit-taking

Retail & corporate funding up 22% qoq to €2.4bn on further growth in direct deposits at illimitybank.com and at the offline platform

Successful placement of preferred bond in Dec-2020

€300mlnsenior

CET1 capital up to €509mln mainly underpinned by profit generated in the quarter and the benefit from the introduction of the Banking Package

RWA up due to growth in business

Notes: Rounded figures; IT Auction consolidated for the first time in 1Q20; (1) DCIS: Distressed Credit Investment & Servicing Division (previously named NPL I&S); (2) This figure includes part of the net loans to existing customers of Banca Interprovinciale, which due to their features are considered consistent with illimity's SME segment; (3) HTCS: Financial assets measured at fair value through comprehensive income; (4) 8 transactions and investments in distressed credits in the energy sector purchased via a joint venture, as part of the DCIS division's activities.

FVTPL: other financial assets at fair value through profit or loss. This item includes equity financial instruments purchased as part of a Turnaround transaction, junior tranches acquired as part of senior financing

- Solid revenue progression drives resilient economic performance

1

Data in €mln

Interest income

Interest expenses1 Net interest income

133%

2

Net fees and commissionsNet result from trading

Net other income/expenses

Gains from closed purchased distressed credit positions2

Operating income

Staff costs

4

Other operating expenses Depreciation & Amortisation Operating costs

Operating profit

• 5 Loan loss provision charges

  Value adjustments on purchased distressed credit

  Value adjustments on HTC securities and loans to banks

  Other net provisions

  Provisions for risks and charges Profit (loss) before tax

• 6 Income tax

  Net result

204% 114% 104%

Steady growth in net interest income on volume progression despite a large share of the business origination occurring at the end of the period

(17%) 153% 368%

Pick up in net fees supported mainly by new business origination and continuous growth in IT Auction's activity and factoring business

126% 68% 30% 174% 48%

Additional strong profit contribution from closed distressed credit positions either sold to third parties or agreed with debtors (DPO(3))

(21%)

n.s.

n.s.

Operating expenses rising on seasonal adjustments of variable compensation, further growth in business and early investments in new initiatives

24% n.s. 167% n.s. n.s. n.s.

Provisions in 4Q20 reflect stable asset quality and new origination in loans backed by public guarantees

€1.3mln positive effect from IT Auction goodwill tax recognition

Notes: Rounded figures (1) Interest expenses restated to exclude costs related to Debt for leasing, now reclassified as administrative costs; (2) Gains from definitive closure of non-performing exposures either through disposal to third parties or through discounted payoff agreed with the debtor; (3) Discounted pay off recovery strategy (the so-called "saldo e stralcio").

- DCIS delivers, SME gaining momentum

SME

(BIP included)

DCI&S

DIRECT BANKING

SGR

CORPORATE

CENTER

Notes: Rounded figures

Contribution to profitability consistent with the nature of the business and expected speed of deployment of our businesses

DCIS faster deployment as expected with strong performance in cash flow and profit from closed position, contributing over 80% of total revenue. Cost income already below 40%

SME more gradual deployment as expected further affected by 2020 pandemic with momentum in volume growth in 2H20 leading to €5.5mln of pre-tax profit

Direct Banking on track with cost sharing and cross selling synergy expected from JV in Hype

Corporate Center absorbing €31mln in terms of negative result before tax and reflecting costs to build a scalable infrastructure

- KPIs confirm strong asset quality and robust capital

• • Cost income ratio reflects revenue not fully benefiting from volumes built in thequarter

• • Annualised cost of risk contained at 59bps in 4Q20 on new volumes backed by public guarantees and solid asset quality

• • Organic NPE ratio further down to 3.2%

• • Ample liquidity buffer

• • NSFR comfortably above minimum requirements

• • CET1 ratio still at nearly 18% on strong business growth

Notes: (1) Ratio of loan loss provisions to net loans to customers end of period (€1,150mln as of 4Q20) from Factoring, Cross-over, Acquisition Finance, High-yield bond, Turnaround performing (including UTP exposures returned to performing), BIP legacy book and Senior Financing to non-bank Distressed Credit investors - thus excluding UTP loans purchased or originated as part of the Turnaround business and the investments in Distressed Credit portfolios; (2) Ratio of gross NPE to total gross loans to customers from Factoring, Cross-over, Acquisition Finance, High-yield bond, Turnaround performing (including UTP exposures returned to performing), BIP legacy book and Senior Financing to non-bank Distressed Credit investors - thus excluding UTP loans purchased or originated as part of the Turnaround and the investments in Distressed 11 Credit portfolios. Any failure to reconcile the stated figures arise exclusively from rounding.

- Resilient CET1 Ratio at 17.9%

19.2%

CET1 ratio

17.9%

• • CET1 capital increased by more than 6% qoq, mostly due to the partial deduction of software assets from CET1 and the positive net profit contribution

• • Increase in RWA (+14% qoq) due to investments made during 4Q and operational risk increase

• • Including special shares, CET1 ratio would reach around 18.4% on a pro-forma basis

2,497

RWA

2,851

Notes: Rounded figures; (1) As part of the "banking package" issued by the European Commission; (2) Considering DTA on fiscal losses and on Allowance for Corporate Equity (ACE).

- Dynamic securities portfolio

Securities portfolio

Portfolio composition

31 December 2020

Sept-20

Dec-20

Senior corporate bonds

Subordinated bonds

HTCS

Notes: Rounded figures; (1) Valuation reserves on financial assets (other than equity instruments) at fair value through other comprehensive income.

- Longer funding maturity due to bond issuance

Maturity mix

illimity offline(1)

illimitybank.comRaisin

Wholesale

Medium-Long Term funding maturity 3 years

~1.6% blended average cost of funding

€185mln TLTRO-III

Notes: Rounded figures; Non accounting figures; short term maturity includes funding with residual maturity below 18 months; (1) illimity offline channels, mostly corporate deposits.

- Successful placement of first bond

103.1

102.9

102.7

102.5

102.3

102.1

101.9

101.7

101.5

11.12.20

18.12.20

€300mlnbond senior preferred with 3-year maturity set at 3.375%

Robust demand for issuance touching one billion euro from 160 investors well distributed between domestic and foreign institutions

Further diversification of funding sources

25.12.20

01.01.21

08.01.21

15.01.21

22.01.21

29.01.21

03.02.21

Source: Bloomberg

Price in euro

SME Division

Enrico Fagioli

- Specialist partner of Italian SME

Cross-over and Acquisition Finance

SME with industrial potential and support to external growth strategies

• • Cross-over

• • Acquisition Financing

• • Investment in high yield corporate bonds in industries in which we are specialists

- 2020: satisfactory despite challenges

Successful entry in UTP portfolios market, leveraging on cross-competencies with the DCIS division

Robust origination in public guarantee loans, high profitable financing instruments in great demand set to continue into 2021

Tangible evidence of profit from credit revaluation events in Turnaround business - more to come in forthcoming years based on current backlog

Healthy recovery of factoring activities after 2Q

Very good start for our strategy in corporate high yield bond business

Strong acceleration in business origination in loans with public guarantees

Several credit revaluations events in the Turnaround business

Good level of asset quality notwithstanding difficult market conditions

- Strong business origination

• • 489 deals analysed since inception worth ~€4.9bn in nominal value

• • 320 deals declined worth ~€3.5bn

• • 10 deals with terms agreed and to be signed shortly worth ~€53mln

• • 14 deals currently under evaluation in advanced status worth ~€121mln

• • Other opportunities identified for additional ~483mln

90 deals signed since inception

Data in €mln

Customer loans unless otherwise stated Non accounting figures

Originated business(1)

Notes: Non accounting figures; (1) This aggregate includes the loans originated/purchased in the period, thus already income-producing, and the deals signed but yet to be booked, due to a settlement structure in multiple tranches or to a time lag between the signing and the date of loan disbursement; (2) Deals in final stage of the formalization of the agreement/contractual terms; (3) Specific business opportunities for which the bank envisages there is a reasonable expectation to close the transactions in the forthcoming months; (4) Including BIP core SME for about €54mln and high yield bond for €27mln; (5) It also includes financial 19 2021; (7) Turnover related to Factoring only for 2020; (8) Credit line to be granted.

instruments, such as quasi-equity instruments, which are accounted for in the balance sheet item: "20. c) Other financial assets mandatorily at fair value" for accounting purposes; (6) Net Book Value at 31 January

- Cross-over & Acq. Finance: acceleration in 4Q20

Originated business

Data in €mln

BIP Core

Total

538 54

Booked(1)Signed but not booked(2)

74

236 44

Momentum in business origination continued in 4Q20

484

12

440

Half of 4Q20 business origination in lending with public guarantees

# 36 deals 2020 (# 22 in 2019)

Avg ticket €6mln

Notes: Rounded figures; (1) Income-producing loans; (2) Deals signed but not yet booked, due to a time lag between the signing of the master agreement and the date of loan disbursement.

- Turnaround: strong pick up in 4Q20

Originated business

Data in €mln

Total

Strong business origination capability mostly in deals with the support of public measures

Booked(1)Signed but not booked(2)

€6mln profit generation in FY20 on credit revaluation events(3)

Strong momentum set to continue into 2021

Notes: Rounded figures; (1) Income-producing gross loans origination, including new finance, acquired credit and related instruments. It includes financial instruments, such as quasi-equity instruments, which are accounted for in the balance sheet item: "20. c) Other financial assets mandatorily at fair value" for accounting purposes; (2) deals signed but not yet booked, due to a time lag between the signing of the master 21 agreement and the date of loan disbursement; (3) Non accounting figures. Credit revaluation events related only to corporate events.

- Factoring: growth continues

Originated business

Data in €mln

Outstanding(1)

Total

Turnover more than doubled

vs. 2019

Around 120 clients(5) and over 500 debtors

Turnover positive trend continues in Jan-2021

Notes: Rounded figures; Non accounting figures; (1) Outstanding: in a factoring transaction, the outstanding amount is the amount of receivables transferred and not yet collected at a certain date; (2) Turnover: in a factoring transaction, the total amount of receivables transferred over a defined period of time; (3) Start-up phase; (4) Restatement due to a contract advance where illimity received a commitment fee, converted into turnover in 4Q20; (5) The corporate that transfers its account receivables to the bank (so-called factor).

- Further diversification of our loan book

GBV breakdown by sector(1)

As % total SME lending

Data as of 31 December 2020

3.6%

1.5%

6.8%

Beauty, Fashion Textile & Apparel

Iron & Steel industry

Automotive & Transportation

Retail & Distribution

Hotel, Restaurants and Leisure

IT Payment systems & Finance

5.5% 4.2% 5.2%

0.8%

Food & Beverage

Pharma & Healthcare

Logistics, Shipping & Shipyards

Energy & Utilities

Engineering & General contractors

Others (more than 10 sectors)

As of end 2020, exposures spread across over 25 sectors

Loan moratorium down to €47mln as of Jan-2021, approximately 5% of total SME loan book

Note: Non accounting figures; (1) Excluding bad loans and including BIP Core and BIP non-core. This aggregate also includes financial instruments, such as quasi-equity instruments, which are included in "20. c) Other financial assets mandatorily at fair value" for accounting purposes.

Distressed Credit I&S Division

Andrea Clamer

- Building the Italian Corporate Distressed Credit champion

Origination

Due DiligencePricing

BiddingOnboardingWorkout & Recovery

Remarketing of Distressed Credit collaterals

- Strong performance in 2020

Note: (1) neprix has incorporated former IT Auction

Robust business origination capabilities

Strong cash flow ahead of initial plan and dynamic approach to portfolio management leading to strong profit contribution

Entry in the UTP portfolios market with a landmark transaction, leveraging on cross-competencies with the SME division

Development of specialist desks: energy and special situation real estate

Building a unique strategic positioning of neprixsales(1)underway

€284mln business origination in 4Q20, seasonally the strongest quarter in the year, bringing total origination for FY20 to €484mln

Strong pipeline bodes well for continuous growth into 2021

Ongoing robust performance of cash flow and profits from disposals/DPOs

- A disciplined business origination

Strong discipline drives selective approach(1)

• • ~€56bn of GBV analysed since inception

• • ~€46bn of GBV declined/lost since inception

• • ~€8bn of GBV signed since inception

• • ~€2bn of GBV currently under evaluation

Data in €mln

Customer loans unless otherwise stated Non accounting figures

Originated business(2)

Notes: Non accounting figures; (1) Refers only to Distressed Credit Investments (2) This aggregate includes Distressed Credit investments booked, Senior Financing loans granted in the period, and deals signed but yet to be booked, owing to a settlement structure in multiple tranches or to a time lag between the signing of the master agreement and the date of loan disbursement/onboarding. It includes also the portfolios sold; (3) Deals in final stage of the formalisation of the agreement/contractual terms; (4) Specific business opportunities for which the bank envisages there is a reasonable expectation to close the transactions in the forthcoming months; (5) It also includes financial instruments, such as quasi-equity instruments which are accounted for in the balance sheet item "20. c) Other financial assets mandatorily at fair value" for accounting purposes corresponding to the investments in energy distressed credit; (6) The AUM of the servicing unit includes the gross book value of distressed credit and the value of property and capital goods managed by neprix sales, net of cash flow and portfolio disposals.

- Business origination matures

Originated business

Data in €mln

Distressed Credit InvestmentSenior Financing

Investments in 2020 concentrated on corporate secured and UTP portfolios

33

84

339

(1)

Total 10

484

Senior financing investment selection in 2020 refocusing on high yield transactions

Booked(2)Signed but not booked(3)

Notes: Rounded figures; (1) Including September 2018; (2) Distressed credit investments booked, and senior financing loans granted in the period; (3) Deals signed but not yet booked, owing to a settlement structure in multiple tranches or to a time lag between the signing of the master agreement and the date of loan disbursement/purchase.

- High quality portfolio in line with targets

Data as of 31 December 2020(1)

Unsecured

Corporate

2015-2020

Out-of-court settlement

Judicial

Other(4)

Notes: Rounded figures; (1) Data does not include assets repossession (through ReoCo and datio in solutum); (2) This includes distressed credits purchased by the Energy desk, which for accounting purposes are recognised at Fair Value (item 120 c); (3) Estimated Remaining Collections on booked investments; (4) Mainly refers to positions for which data remediation is ongoing.

- Ongoing outperformance of cash flow

Cash Flow view(1)

4Q20 Economic view

Data in €mln

Data in €mln

Q4 20

45.2

• 23.1 +22.1

  Cumulative

  222.1

• 122.5 +99.6

Notes: Rounded figures; (1) Cash flow from receivables; (2) Measured based on amortized cost; (3) Outcome of the Distressed Credit business plan periodic review; it includes €13.2mln reclassified in operating income 30 funding; (5) Estimated Remaining Collection.

(gains from closed purchased distressed credit positions), -€7.0mln accounted as value adjustments on purchased distressed credit and €0.2mln recognized as fair value adjustments; (4) Revenues before any cost of

- The new neprix: technology boosts performances

Newneprixorganisationalstructure following IT Auction incorporation focuses on 3 business areas:

Head of Servicing

Distressed Credit management managing€6.5bn AuMGBV and ~31,000 tickets, responsible for due diligence and distressed credit servicingSales executingpropertymanagement, remarketingand sale of realestate assets and capital goods

Headcounts as of 31 Dec 2020

Tech providingIT solutionsand processimprovementservices

- neprix sales: more than a window for corporate asset remarketing

Source: neprix sales processing on portals statistics

Source: "Report 2019 Analisi Portali immobiliari" of Coach Immobiliare and Immobiliare.it web site; rounded data.

Direct Banking

Carlo Panella

- Our mission in direct banking

Fully-fledged and PSD2 driven bank platform, addressing customer banking needs with and end-to-end digital experience

- illimitybank.com collects impressive results on 3 main levels

Securing funding goals thanks to over €1bn funding on illimitybank.com with a decreasing cost of funding

(-36bps cost of funding on illimitybank.com Dec. vs Jan. 2020)

Data as of 31 December 2020

Building long-term relations with our customers thanks to continuous engagement initiatives

+43k	86%	29%	+131%	+205%
Customers	Active	Loyal	Conveyed payrolls	Sepa Direct Debit
as of 31/01/21	Customers	Customers	(Dec vs Jan '20)	(Dec vs Jan '20)

Being relevant and valuable for both customers and the market

31% Brand Awareness 45

Net Promoter Score (avg Q4)

- HYPE: strategic and operational update

2020: a year of impressive results…

Main KPIs

Main Initiatives

…already working on

2021

Product offering enrichment

New subscription accounts

New products and initiatives: insurance, credit boost, cash top-up, MGM

New accounts: Hype Premium and Hype Next

Focus on Innovation

First player to allow customers to adhere via app to the statal

Cashback

Source: HYPE, data as of 31 December 2020

- the new "ABC" of Open Banking

energy

Non - Financial intersections

Capitalising illimity's technological Assets to enable partner Brands to better address their Customerbase needs

With three possible offers:

API "micro processes"

API "embedded" in third parties applications

API "all in" with both financial and non financial layers

Data analysis enrichment, intelligent platform, data analysys, real time customer insight generation

- Leveraging IT Infrastructure

We have built an enabling architecture:

Fully in Cloud

API Based

Fully fledged with best in class Fintech solution

Based on data and advanced analytics

Silvia Benzi

Head of Investor Relations & Strategic Planning Mobile: [phone] Email:[e-mail]

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• • Certain industry and market data contained in this Document has come from third party sources. Third party industry publications, studies and surveys generally state that the data contained therein have been obtained from sources believed to be reliable, but that there is no guarantee of the accuracy or completeness of such data. While the Company believes that each of these publications, studies and surveys has been prepared by a reputable source, neither the Company nor its respective affiliates has independently verified the data contained therein. In addition, certain of the industry and market data contained in this document comes from the Company's own internal research and estimates based on the knowledge and experience of the Company's management in the market in which the Company operates. While the Company believes that such research and estimates are reasonable and reliable, they, and their underlying methodology and assumptions, have not been verified by any independent source for accuracy or completeness and are subject to change without notice. Accordingly, no reliance should be placed on any of the industry or market data contained in the information. By receiving this document and attending the presentation, you are certifying that (a) if you are in the European Economic Area, you are a "Qualified Investor"; (b) if you are in the United Kingdom, you are a "Relevant Person"; (c) you are not located in a jurisdiction where it is unlawful to do so and (d) you acknowledge and agree to the limitations and conditions set forth herein.

• • Acceptance of delivery of the Document by the recipient constitutes acceptance of the terms and conditions set out in this Disclaimer.

• • Solely for the purposes of the product governance requirements contained within: (a) EU Directive 2014/65/EU on markets in financial instruments, as amended ("MiFID II"); (b) Articles 9 and 10 of Commission Delegated Directive (EU) 2017/593 supplementing MiFID II; and (c) local implementing measures (together, the "MiFID II Product Governance Requirements"), and disclaiming all and any liability, whether arising in tort, contract or otherwise, which any "manufacturer" (for the purposes of the MiFID II Product Governance Requirements) may otherwise have with respect thereto, the ordinary shares and other instruments of illimity Bank S.p.A. (the "Securities") have been subject to a product approval process, which has determined that such Securities are: (i) compatible with an end target market of retail investors and investors who meet the criteria of professional clients and eligible counterparties, each as defined in MiFID II; and (ii) eligible for distribution through all distribution channels as are permitted by MiFID II (the "Target Market Assessment").

• • Notwithstanding the Target Market Assessment, Distributors should note that: the price of the Securities may decline and investors could lose all or part of their investment; the Securities offer no guaranteed income and no capital protection and an investment in the Securities is compatible only with investors who do not need a guaranteed income or capital protection, who (either alone or in conjunction with an appropriate financial or other adviser) are capable of evaluating the merits and risks of such an investment and who have sufficient resources to be able to bear any losses that may result therefrom. The Target Market Assessment is without prejudice to the requirements of any contractual, legal or regulatory selling restrictions in relation to the Offer. Furthermore, it is noted that, notwithstanding the Target Market Assessment, the Manufacturers will only procure investors who meet the criteria of professional clients and eligible counterparties.

• • For the avoidance of doubt, the Target Market Assessment does not constitute: (a) an assessment of suitability or appropriateness for the purposes of MiFID II; or (b) a recommendation to any investor or group of investors to invest in, or purchase, or take any other action whatsoever with respect to the Securities.

• • Each distributor is responsible for undertaking its own target market assessment in respect of the Securities and determining appropriate distribution channels.

• • By accepting or accessing this Document, you shall be deemed to have represented and warranted that (i) you have read and agreed to comply with the foregoing limitations and restrictions, (ii) you are able to receive this presentation without contravention of any applicable legal or regulatory restrictions, (iii) if you are in a member state of the European Economic Area (other than the United Kingdom), you are a Qualified Investor; (iv) if you are in the United Kingdom, you are a Relevant Person; (v) if you are in Italy, you are an Italian Qualified Investor; and (vi) you acknowledge that you understand that there are legal and regulatory sanctions attached to the misuse, disclosure or improper circulation of this document.

• • This document includes industry and market data pertaining to Company's business and markets. Such information is based on the Company's analysis of multiple sources such as industry publications and surveys, industry reports prepared by consultants, internal surveys and customer feedback. The market, economic and industry data have primarily been derived and extrapolated from reports provided by third parties. In addition, certain statistics, data and other information relating to markets, market sizes, market shares, market positions and other industry data pertaining to Company's business and markets in this document are not based on published data obtained from independent third parties or extrapolations therefrom, but rather are based upon analysis, which are in turn based upon multiple third party sources.

• • All figures and numbers included in this document are rounded.

• • Pursuant to Article 154-bis, paragraph 2, of the Legislative Decree no. 58/1998 (Unified Financial Act), the Financial Reporting Officer, Mr. Sergio Fagioli, declares that the accounting information contained in this Document corresponds to the document results, books and accounting records.