COMMUNICATION OF CHANGES IN SHARE CAPITAL

Milan, 21 September 2022 - illimity Bank S.p.A. ("illimity"), gives notice of the new composition of its share capital following the conversion of no. 1,440,000 illimity's special shares in an equal number od ordinary shares (ISIN: IT0005359192) having the same features of those outstanding, without any modification of the amount of the share capital.

The automatic conversion occurred according to a ratio of one ordinary share for each special share pursuant to Article 6, par. 4, lett. (f) of illimity's By-laws in force until last 20 September, upon reaching the deadline for the conversion of the special shares set on the same date.

CURRENT SHARE CAPITAL(*)

PREVIOUS SHARE CAPITAL(*)

EUR

No.

PAR

EUR

No.

PAR

SHARES

VALUE

SHARES

VALUE

TOTAL

54,513,905.72

83,645,108

No par

54,513,905.72

83,645,108

No par

of which:

value

value

ORDINARY

54,513,905.72

83,645,108

No par

53,575,416.60

82,205,108

No par

SHARES

value

value

SPECIAL

-

-

-

938,489.12

1,440,000

No par

SHARES

value

(*) Entirely subscribed and paid share capital. As of today the approved share capital of illimity is equal to Euro 56,083,976.14.

The updated By-laws, amended to take into account the conversion of the special shares and the subsequent new composition of the share capital, as well as the cancellation of any reference to the regulation of such special shares, has been enrolled today with the competent Companies' Register and is available to the public in the Governance Section of the website www.illimity.com.

* * * * *

For further information:

Investor Relations

Silvia Benzi: +39.349.7846537 - +44.7741.464948 - silvia.benzi@illimity.com

Press & Communication illimity Vittoria La Porta, Elena Massei +39.340.1989762press@illimity.com

illimity Bank S.p.A.

Sara Balzarotti, Ad Hoc Communication Advisors +39.335.1415584sara.balzarotti@ahca.it

illimity is the high-tech banking group founded and headed by Corrado Passera that was created with the aim of responding to specific market needs by way of an innovative and specialist business model. More specifically, illimity extends financing to high-potential SMEs, purchases distressed corporate loans and services these through its platform neprix, and provides digital direct banking services through illimitybank.com. illimity SGR, which sets up and manages alternative investment funds, the first of which dedicated to UTP loans, is also a member of the Group. The story of the illimity Group began in January 2018 with the launch of the special purpose acquisition company SPAXS S.p.A., which ended with a record 600 million euro being raised on the market. SPAXS subsequently acquired Banca Interprovinciale S.p.A., with the resulting merger between the two giving rise to "illimity Bank S.p.A." which has been listed on the Italian Stock Exchange since 5 March 2019 (ticker "ILTY"), first on the MTA exchange and since September 2020 on the Star segment. The banking group, headquartered in Milan, can already count on over 830 employees and ended the first half of 2022 with assets of around 5.1 billion euro.

* * * * *

This press release is not for publication or distribution, directly or indirectly, in the United States of America, Australia, Canada, South Africa and Japan. This press release is not an offer to sell financial instruments in the United States of America, Australia, Canada and Japan. The financial instruments referred to in this press release have not been, and will not be, registered under the United States Securities Act of 1933, as amended, and cannot be offered or sold in the United States of America, except in compliance with applicable exemption. No public offer of financial instruments is being made, or is intended to be made, in the United States of America and/or in other jurisdictions.

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illimity Bank S.p.A. published this content on 21 September 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 September 2022 10:09:10 UTC.