Intesa Sanpaolo and COIMA: agreement to develop the banking Group's real estate assets

JOINT PRESS RELEASE

INTESA SANPAOLO AND COIMA: AGREEMENT TO DEVELOP THE

BANKING GROUP'S REAL ESTATE ASSETS

• Intesa Sanpaolo to contribute a real estate portfolio worth over €500 million to investment vehicles managed by COIMA SGR
• The banking group will take shares in the investment vehicles
• Potential for further partnerships in the real estate sector

Milan, 26th April 2024 - Intesa Sanpaolo and COIMA have signed an agreement to evaluate the best opportunities to develop the banking group's properties in a changing real estate market environment.

The agreement, which reflects changing strategies in real estate in response to the increased emphasis on ESG objectives in the sector, revolves around the transfer to investment vehicles managed by COIMA SGR of a real estate portfolio of Intesa Sanpaolo with a total value of over €500 million.

The completion of the transaction is contingent on fulfilment of certain conditions precedent. At the time of the contribution, Intesa Sanpaolo will receive shares in the COIMA investment vehicles, which will be identified according to the type of real estate in the portfolio and the strategy for developing its value.

The assets subject to the transaction, which are all office buildings, are:

• three prime properties, located in Rome at Via dei Crociferi 44 and in Milan at Via Clerici 4-6 / Piazza Ferrari 10 and at Via Verdi 9-11-13;
• additional properties to be vacated or disposed of in the coming months, located in several cities, including Milan, Turin, Rome, Brescia, Bergamo, Bologna, Padua and Florence.

The transaction will result in a significant reduction of Intesa Sanpaolo's real estate assets.

The agreement will also see Intesa Sanpaolo and COIMA examine further areas of collaboration in the real estate sector that could generate business opportunities of common interest.

Today's announcement is part of Intesa Sanpaolo's broader Smart Property Management strategy, as set out in the 2022-2025 Business Plan presented by CEO Carlo Messina. Related initiatives include a strong acceleration towards the approach to work and a significant modernisation of working environments in office spaces. Investment properties are to be fully monetised through disposals and active management via leasing or the creation of new businesses.

	***
Intesa Sanpaolo	COIMA
Media Relations
Corporate & Investment Banking and Governance Areas	Ufficio stampa
[e-mail]	SEC Newgate Italia +39 02 624.999.1
	Nicole Zancanella
News: group.intesasanpaolo.com/en/newsroom/news	[e-mail][phone]
X: @intesasanpaolo https://twitter.com/intesasanpaolo	Daniele Pinosa
LinkedIn: linkedin.com/company/intesa-sanpaolo	[e-mail][phone]
	***

Intesa Sanpaolo

Intesa Sanpaolo, with €430 billion in loans and €1.3 trillion in customer financial assets at the end of 2023, is the largest banking group in Italy, with a significant international presence. It is a European leader in wealth management, with a strong focus on digital and fintech. The Group will provide €115 billion of Impact lending by 2025 to support communities and the green transition, together with a €1.5 billion program to help people in need. The Bank's network of museums, the Gallerie d'Italia, hosts its owned artistic heritage and cultural projects of recognized value.

COIMA

COIMA specialises in investing in, developing and managing Italian real estate assets on behalf of institutional investors through an integrated ESG impact approach. COIMA Holding controls operating companies including COIMA SGR, an investment and asset manager that manages more than 30 real estate funds with more than €10 billion of investments; COIMA REM, a development and property manager, which in 50 years has developed and managed more than 5 million square metres of properties; and COIMA HT, a technology company that provides digital infrastructure for physical spaces.