Mediobanca S p A : and Founders Factory to invest in fintech startups

PRESS RELEASE

MEDIOBANCA AND FOUNDERS FACTORY TO INVEST IN

FINTECH STARTUPS

THE JOINT VENTURE WILL SEE MEDIOBANCA FOSTER

THE DEVELOPMENT OF 35 FINTECH COMPANIES

INVESTMENT PART OF MEDIOBANCA'S 2023-26 "ONE BRAND - ONE CULTURE"

STRATEGIC PLAN, ACCELERATING ITS PATH TO STRENGTHEN THE GROUP'S

TECHNOLOGY ECOSYSTEM

Mediobanca Group, Italy's largest investment bank, has signed a partnership with Founders Factory, the London-based global company builder and early-stage investor, to launch a new fintech venture studio and accelerator. This joint venture, underpinned by an overall €12 million investment from Mediobanca, will facilitate innovation in financial services by supporting international early-stage fintech startups as well as further boost support for Italy's thriving startup ecosystem.

The Mediobanca/Founders Factory joint venture will build and invest in 35 fintech businesses over the next five years. The venture studio will build, finance and launch new fintech ventures that utilise advanced technologies, such as blockchain and AI, to innovate the financial services market in synergy with Mediobanca's strategy and capabilities. In tandem, Founders Factory and Mediobanca will operate a new accelerator programme to invest in and support more established early-stage fintech ventures in Italy and internationally.

According to this joint venture, selected entrepreneurs will benefit from access to vital startup capital, Founders Factory's global network, world-class operational support and fintech expertise, together with Mediobanca's commercial access and knowledge to multiple routes to financial practices - from wealth management to consumer banking.

The partnership with Founders Factory fits into Mediobanca's 2023-26 "ONE BRAND - ONE CULTURE" Strategic Plan, which envisages a significant strengthening of the Group's technology ecosystem. The Group's digital agenda includes, as priorities, i) the enhancement of digital channels in order to propose a more effective customer experience, ii) the evolution of digital platforms and the adoption of artificial intelligence solutions to support the sales force, iii) a digitalisation and automation path aimed at cost optimisation.

Founders Factory is a leading global fintech authority, having established a long term relationship with UK financial services operator, Aviva, and building and investing in nearly 50 financial technology ventures, including Acre, Qumata, and ClearGlass. This new partnership with Mediobanca further cements the organisation's commitment to

the fintech sector as well as establishing itself as a key figure in Italy's startup ecosystem, which continues to go from strength to strength.

"In recent years we embraced the opportunities that technology has created in the financial sector. We have done so in Wealth Management with the launch of CheBanca!, in Consumer Banking with investments in Buy Now Pay Later as well as in Corporate and Investment Banking with the recent partnership signed with Arma Partners and we want to continue to serve the talent of our people and the user experience of our customers with the most advanced tech solutions" comments Alberto Nagel, CEO of Mediobanca. "With this joint venture we will seize new opportunities, further strengthening the Group's technology ecosystem, also through the adoption of innovative models that will allow us to respond effectively to market expectations" - concludes Alberto Nagel.

"The partnership with Founders Factory is a fundamental step in the three-year roadmap envisaged by the ONE BRAND - ONE CULTURE plan" adds Marco Pozzi, Group COO of Mediobanca, "and will enable us to accelerate the innovation paths that characterise the Group's industrial strategy. The systematic collaboration with some of the most interesting startups in the international market will allow us, on the one hand, to contribute to the growth of an extremely high-potential market such as fintech, and, on the other, to transform existing systems by developing distinctive and highly innovative solutions," concludes Marco Pozzi.

Henry Lane Fox, CEO of Founders Factory commented; "Mediobanca is one of Italy's leading financial institutions with reach extending throughout Europe. It makes them the ideal partner for Founders Factory as they recognise the importance of technology's role in the future of financial services and the systemic change it can bring. Combining our venture building capabilities and fintech experience with Mediobanca's heritage, financial prowess and global ambition creates a powerful platform to back fintech founders".

Fabio Troiani, Chairman of Founders Factory Italy added "Mediobanca stands out as a trailblazer among Italian banks, showcasing a truly innovative management vision. By collaborating with Founders Factory, they are aligning with a cutting-edgeplayer in the field. Founders Factory's pioneering approach, blending operational support, venture capital, and innovation design, has consistently delivered transformative innovation and venture capital returns to corporate partners like Mediobanca over the past seven years".

The transaction is subject to obtaining the relevant regulatory authorisations.

Milan, 24 July 2023

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About Mediobanca

Mediobanca is a diversified listed banking group. Market leader in Italy in investment banking, with a strong track record in Lending, Advisory and Capital Markets businesses, and with a significant footprint in Southern Europe, the Group today is also a top Italian player in Consumer Banking and a quality operator in Wealth Management, serving Affluent & Premier and Private

• HNWI clients. An established reputation based on professionalism and discretion, coupled with capital solidity and quality, make Mediobanca the ideal partner of choice for businesses looking to grow in Italy and in Europe.
  www.mediobanca.com

About Founders Factory

Founders Factory builds and funds startups together with exceptional entrepreneurs and the world's leading companies.

Created by IPO-exited founders and headquartered in London, Founders Factory offers founders capital, operational support from a team of 100 hands-on experts, and unrivalled access to a coalition of industry leading corporate partners.

Founders Factory's Venture Studio co-founds businesses from inception, developing new ideas, technologies and business models into high growth companies.

Operating sector-focused Accelerator programmes and Venture Funds for Pre-Seed and Seed stage startups, Founders Factory invests in talented and diverse founding teams across industries and geographies - with a current focus on FinTech, Health, Climate, Media & Telecoms, Consumer and Web3.

Since 2015, Founders Factory's 300 portfolio companies have raised $800mm follow-on funding from leading funds and investors.

www.foundersfactory.com