Illimity Bank S p A : structures the first multi-originator securitisation of corporate loans

ILLIMITY STRUCTURES THE FIRST MULTI-ORIGINATOR SECURITISATION

OF CORPORATE LOANS WORTH 40 MILLION EURO

Milan, 31 October 2022 - illimity Bank S.p.A. ("illimity"), through its Investment Banking Division, has completed the first multi-originator securitisation of a portfolio of corporate loans originated by Cassa di Risparmio di Asti S.p.A. ("CR Asti") and Banco di Credito P. Azzoaglio S.p.A. ("Banco Azzoaglio").

The structured finance transaction - aimed at the issue of a unitranche ABS note worth 40 million euro - was carried out by illimity, which acted as Arranger and Investor, with the objective of supporting the originator's commercial strategies.

Fabiano Lionetti, Head of Investment Banking in illimity, commented: "We are very pleased at having concluded such a complex operation successfully and in such a short period of time, thanks also to the partnership established with the two banks. This is the first multi-originatorsecuritisation structured by the Investment Banking Division and follows on from the operations successfully concluded in the first nine months of this year."

Enrico Berruti, Head of Corporate Market Services in Banca di Asti, remarked: "We took the decision in an extremely difficult time to provide concrete support to the working capital needs of our businesses through the use of a non-instalmentloan backed by the Central Guarantee Fund and having an innovative and digital onboarding process. We are pleased with the working relationship built up with all the players in this initiative, which has enabled us to enhance the value of our portfolio."

Carlo Ramondetti, General Manager of Banco Azzoaglio, stated: "This important operation is part of a wider securitisation programme drawn up by the bank, as always close to the needs of the local area. It is the second operation of its kind and others will follow."

illimity Bank S.p.A., Sede Legale Via Soperga 9, 20124 Milano, Italia - www.illimity.com

For further information:

Investor Relations illimity

Silvia Benzi: +39.349.7846537 - +44.7741.464948 - [e-mail]

Press & Communication illimity

Vittoria La Porta, Elena Massei [e-mail]

Sara Balzarotti, Ad Hoc Communication Advisors +39.335.1415584 [e-mail]

Communication Office Banca di Asti

[e-mail]- T + 39.0141.393309

Corporate Market Services

[e-mail]- T +39.0141.393015

illimity Bank S.p.A.

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 (now Euronext STAR Milan). 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.

Cassa di Risparmio di Asti S.p.A.

Since 1842 Banca di Asti has been innovatively interpreting the values characterising its foundation: care, listening to its customers' needs and those of the local area, loyalty and the development of human resources, with a special emphasis being placed on the new professions. Banca di Asti is a fast and flexible commercial bank, one capable of responding to the demands of its market and of competing through excellence, setting its sights on a long-term relationship with its customers to create mutual economic benefits. It operates through a network of 209 branches in Piedmont, Lombardy, Liguria, the Aosta Valley and Veneto and at 30 June 2022 had a workforce of 1,695 employees.

Banco di Credito P.Azzoaglio S.p.A

There were many private banks in Ceva in 1879, including Banco Azzoaglio, founded by Paolo Azzoaglio, a merchant, landowner and real estate agent. At that time the Cebani, as the residents of Ceva are known, were leaving the town for the Californian sun, where the bank was better known than in Italy. Vincenzo, Paolo's son, came up against some of the hardest years in Italian history, those which encompassed the two world wars and the 1929 crisis. Several local banks and businesses had to close their doors. "We came out of it well, in my view due to the fact that father was always a prudent man. I remember a story going around the family that he was often stopped in the street by customers wanting to withdraw their savings to make investments. But he didn't say a word, he simply found the money they asked for", says Francesco, Vincenzo's son.

illimity Bank S.p.A., Sede Legale Via Soperga 9, 20124 Milano, Italia - www.illimity.com