Intesa Sanpaolo S p A : Amendment to the terms and conditions

NOTICE TO SECURITYHOLDERS

relating to the issuance of:

STANDARD LONG BARRIER DIGITAL CERTIFICATES on Basket of Shares due 30.04.2025

(ISIN Code XS2267107105)

under the Warrants and Certificates Programme IMI CIB, approved by the Commission de Surveillance du Secteur Financier (CSSF) on 12 June 2020, as amended and supplemented

(the "Certificates")

On 1 March 2023, Linde PLC has announced that it has completed its intercompany reorganization resulting in the delisting of its shares from Xetra (the "Old Linde PLC Share"). The share of the new holding company resulting from the reorganization (also named "Linde PLC") will be listed solely on the NYSE (the "New Linde PLC Share"). Linde shareholders will automatically receive one New Linde PLC Share in exchange for each Old Linde PLC Share owned.

Therefore, Intesa Sanpaolo S.p.A., acting as Calculation Agent of the Certificates, has replaced the current Underlying of the Certificates with a basket containing the New Linde PLC Share instead of the Old Linde PLC Share and has adjusted the initial reference value and the related levels of the Old Basket Constituent on the basis of the factor K = 1.069276:

	New	Old Basket	New Basket	Old	New
Old Basket	Constituent		ADJUSTED
Basket	Constituent	Bloomberg	Bloomberg	OLD 0*
Constituent	ISIN Code	0*
Constituent	ISIN Code	Code	Code
Linde PLC	Linde PLC	IE00BZ12WP82	IE000S9YS762	LIN GY	LIN UN	237.8300	254.3059

Terms used herein and not otherwise defined shall have the same meaning ascribed to them in the Base Prospectus and in the Final Terms relating to the Certificates.

Milan, 2 March 2023

Intesa Sanpaolo S.p.A.