Mediobanca S p A : completes acquisition of Arma Partners a strategic investment which strengthens the Group's Digital Economy Advisory Business

PRESS RELEASE

MEDIOBANCA COMPLETES ACQUISITION

OF ARMA PARTNERS

A STRATEGIC INVESTMENT

WHICH STRENGTHENS THE

GROUP'S DIGITAL ECONOMY ADVISORY BUSINESS

Mediobanca has completed the acquisition of Arma Partners LLP, the leading European financial advisory company operating in the Digital Economy sector.

The deal, which was signed in May 2023 with the partners of Arma Partners LLP, has a strong strategic rationale for Mediobanca with the objective of creating a leading digital economy franchise within its Corporate & Investment Banking division.

In particular, in accordance with the objectives of the Mediobanca Group 2023-26 Strategic Plan, the partnership with Arma Partners will contribute to the creation of a stronger, broader and more diversified European advisory platform, with higher capital light and non-domestic revenues (set to grow from 40 to 55%). It will also generate new business opportunities from synergies between the Group's divisions, in particular between CIB and Wealth Management, as the unique Private & Investment Bank model becomes more firmly established.

Founded in 2003, Arma Partners is headquartered in London and has offices in Munich, a presence in the United States, and affiliate relationships with specialist advisory firms in Japan, Australia, Israel, Turkey and Brazil. Operating based on a specialized model focused on advisory services, Arma Partners serves companies, investors and entrepreneurs working in the global digital economy. The company is also a partner of choice in corporate finance matters for major listed companies and private equity funds operating in innovative sectors, which Arma Partners assists at all stages from raising private capital, to supporting rapidly growing businesses, to executing complex cross-border M&A deals.

In the past five years, the Arma Partners team - which today has 12 partners and 83 employees, including 67 bankers from over 26 countries - has advised on over 110 completed transactions, 75% of which cross-border, with an aggregate market value of $90bn. Despite adverse macroeconomic market conditions, Arma Partners announced record results in 2023 for the third year running, with revenues in excess of $100m.

The investment in Arma Partners fits perfectly with Mediobanca's ambition to create solid long- term growth by leveraging on industrial trends such as the digital economy, on specialist competences and on talented people. Based on this approach, the advisory business will increasingly establish itself as the leading contributor to the Corporate and Investment Banking division's revenues, with fee income set to increase by 30% for the division and by 10% for the Group.

Arma Partners will continue to be managed by its founder and managing partner Paul-Noël Guély, who will work closely with Francisco Bachiller and Giuseppe Baldelli, the Co-heads of Global Corporate & Investment Banking, with the objective of expanding the Mediobanca CIB

platform's international origination and of carving out a role of primary importance for the division in the European digital economy.

Milan and London, 4 October 2023

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