Approval of the financial statements as at 31 December 2019 and allocation of Banca Akros profits

Milan, 1 April 2020

Today, the shareholders’ meeting of Banca Akros S.p.A., belonging to the Banco BPM Banking Group, among other matters, resolved to approve the financial statements for the year ending 31 December 2019 with the following proposal regarding the allocation of the profit in favour of the Sole Shareholder Banco BPM S.p.A. (operating as a commercial bank), which amounted to €38,048,611.85:

• €37,462,112.85 to dividends (at the rate of €0.95 per share)
• the remaining €586,499.00 to retained earnings

For this purpose, the Chairman of the Board of Directors, Graziano Tarantini, and the Chief Executive Officer, Marco Turrina, are granted a mandate to correctly and promptly carry out this resolution and all related and/or consequent formalities.

Dividends will be paid by 30 April 2020.

The allocation of profit is intra-group in that it is in favour of the Parent Company and Sole Shareholder Banco BPM S.p.A.