Banca Monte Dei Paschi Di Siena S.p.a. · MIL:BMPS
Banca Monte Dei Paschi Di Siena — Merger or Acquisition (August 2026)
26 slides from Banca Monte Dei Paschi Di Siena's merger presentation, Aug 21, 2026
Slide 1: An Elevated National Champion
An Elevated National Champion Banking. Advisory. Wealth. Voluntary Public Exchange Offers launched by Banca Monte dei Paschi di Siena for all the ordinary shares of Banco BPM and Banca Generali 21 August 2026
Slide 2: Disclaimer
Disclaimer NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO OR FROM THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, JAPAN, OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION This docume
Slide 3: The Industrial Project: Elevating the Standard for Italian Banking and Wealth Management
The Industrial Project: Elevating the Standard for Italian Banking and Wealth Management… Creation of a leading Italian Banking and Wealth Management group with a winning business model, positioned to support households, entrepreneurs, SMEs and corporates • #2 financial institution in the Italian ba
Slide 4: While Delivering Superior Value for Shareholders and Stakeholders
…While Delivering Superior Value for Shareholders and Stakeholders Attractive consideration offered to the Banco BPM and Banca Generali shareholders • Highly accretive transaction for both Banco BPM and Banca Generali shareholders, delivering strong EPS accretion and remuneration • Opportunity to pa
Slide 5: Strategic Rationale
Strategic Rationale The Industrial Project Value Creation Levers Closing Remarks
Slide 6: A Combination Built for the Way Banking Is Changing
A Combination Built for the Way Banking Is Changing WHAT IS CHANGING AROUND US WHAT IT NOW TAKES TO WIN BMPS + Banco BPM ▪ Higher degree of product customisation across the client + Banca Generali life-cycle, and access to more diversified solutions CUSTOMERS NEED FOR GREATER SCALE ▪ Digital for dai
Slide 7: MPS's Evolving Journey Is Ready to Capture the Current Market Opportunities
MPS’s Evolving Journey Is Ready to Capture the Current Market Opportunities MPS standalone A transformed, Sustainable profitability confirmed strong MPS Exemplary capital and asset quality metrics Proven execution and integration capabilities c.13% 16.3% RoTE adj. CET1 ratio 20251 Jun-262 Medi
Slide 8: MPS Pivotal to Create a New Domestic Champion
MPS Pivotal to Create a New Domestic Champion… WHY MPS? Value creation through integration, not break-up A unique blend of product and distribution capabilities sets MPS apart from all alternative partners Combination of national scale and regional roots enabling effective integration Financial flex
Slide 9: with an Industrial Project Involving Banco BPM and Banca Generali
…with an Industrial Project Involving Banco BPM and Banca Generali WHY BANCO BPM? WHY BANCA GENERALI? …Natural continuation of the path identified… …Further enhancement of business model… c.1,365 branches, of which c.1,040 in Northern Italy c.€117bn of TFA2, and a network of c.2,500 FA Industr
Slide 10: A Compelling Proposition for all Stakeholders
A Compelling Proposition for all Stakeholders A Step-Change in Domestic #2 bank in Italy and scaled wealth manager with €810bn total financial assets 1 and European Scale Top-10 European bank by market cap (€81bn pro forma1) A Powerful Combination of 2 Product Capabilities and Preserves franch
Slide 11: The Industrial Project
Strategic Rationale The Industrial Project Value Creation Levers Closing Remarks
Slide 12: Scaling Further, Consistent with Our Strategic Direction
Scaling Further, Consistent with Our Strategic Direction Size at scale at European level1 Leading domestic Ranking by Market Capitalization (€bn) position Bank 1 180 #2 in Italy by customer Bank 2 137 loans and branch network Bank 3 124 Bank 4 119 Bank 5 118 Bank 6 89 Bank 7 83 c.802 #8 Bank 9 58 Ba
Slide 13: A Leading Platform for Italian Households and Businesses
A Leading Platform for Italian Households and Businesses Ranking by customer loans (€bn) Ranking by total assets (€bn) 328 1 960 245 870 148 2 143 466 129 100 98 67 62 51 242 206 205 168 23 94 94 93 90 3 18 Player 1 Player 2 Player 4 Player 6 Player 7 Player 8 Player 9 Player 10 Player 1 Player 2 Pl
Slide 14: Extensive Regional Footprints Across Italy
Extensive Regional Footprints Across Italy Complementary access to the most productive and wealthiest regions in Northern Italy #2 4 8 12 Branch network in Italy 34 7 41 2 4 6 234 176 493 159 727 335 47 151 198 Total branches in Italy 101 143 250 25 72 97 c.1,550 Privileged footprint in Central and
Slide 15: Bringing More Products to More Clients
Bringing More Products to More Clients Expanding Reach Across Complementary Client Segments… …and Scaling Product Factories Across the Group # of clients (m) 11 Clients +4m Branches 7 +1,360 Financial advisors & Private Bankers +2,820 2025A Pro forma Source: Company information. 15
Slide 16: A Business Model Designed to Generate More Fees and Less Volatility
A Business Model Designed to Generate More Fees and Less Volatility Scaled access and origination support cross-selling across wealth management, 1 RETAIL & COMMERCIAL insurance and payments 2 CONSUMER FINANCE Specialist underwriting and enlarged client access improve risk-adjusted growth 3 ASSET GA
Slide 17: Building a Scaled Wealth Management Platform with Enhanced Earnings Quality
Building a Scaled Wealth Management Platform with Enhanced Earnings Quality Combined TFA1 (2025A) F&C income / Total Revenues 32% ~10p.p. 41%3 20252 117 396 810 (€bn) 120 177 Combined Source: Company information. Notes: 1. Total financial assets computed as the sum of indirect funding (AuM + AuC + I
Slide 18: Value Creation Levers
Strategic Rationale The Industrial Project Value Creation Levers Closing Remarks
Slide 19: Significant Industrial Synergies Underpin Tangible Value Creation
Significant Industrial Synergies Underpin Tangible Value Creation ~€1.2bn ~€0.6bn ~€1.8bn Cost synergies Revenue & funding synergies Total synergies • Rationalization of • Coordination and • Synergies expected to be operational processes and optimisation of product fully realised by 2029 optimisatio
Slide 20: Regulatory Capital Evolution
Regulatory Capital Evolution CET1 Ratio (%) ▪ CET1 ratio projected above 13% 16.3% over 2026-2030E ▪ CET1 ratio expected above 15% by >13% >13% 2028 assuming the application of Danish Compromise ▪ Dividend pay-out ratio at 100% of reported net income ▪ €19bn expected for 2026-2030E for MPS sharehold
Slide 21: Significant Financial Benefits, Accretive Across Every Key Metric
Significant Financial Benefits, Accretive Across Every Key Metric Revenues (€bn)1 Net Profit (€bn)1,2 Cost / Income (%)1 15 >19% RoATE 2029 46 6 36 >13% CET1 ratio across Plan horizon 8 2 c.11% EPS accretion (incl. run-rate synergies) Distributions for 2025A Pro forma 2025A Pro forma 2025A Pro forma
Slide 22: Clear and Tangible Benefits for All Stakeholders
Clear and Tangible Benefits for All Stakeholders Creating Italy’s 2nd banking group, reinforcing Significant cost, revenue and funding competition and financial system resilience synergies Combination and preservation of the System Shareholders Creating an integrated group, with fee-rich fra
Slide 23: Overview of the Offers and Extraordinary Distribution
Overview of the Offers and Extraordinary Distribution Transaction structure and consideration offered (subject to art.104 TUF) Voluntary exchange offer on up to 1,515,182,126 ordinary shares representing 100% of Banco BPM share capital Each Banco BPM share tendered will receive n. 1.567 newly is
Slide 24: Indicative Timeline of the Transactions
Indicative Timeline of the Transactions 21-Aug Deal announcement and MPS’s notices pursuant to Art. 102 Sep Offer Documents filing EGM called to approve the capital increases, the Offers, the extraordinary 29-Oct dividend distribution pursuant to Art. 104 and the MB merger Nov Supervisory au
Slide 25: Closing Remarks
Strategic Rationale The Industrial Project Value Creation Levers Closing Remarks
Slide 26: Closing Remarks
Closing Remarks A step-change in scale, creating a leading Italian Banking and Wealth Management group with European relevance Three complementary business models, bringing together Commercial Banking, high-end Wealth Management and specialist capabilities A powerful product and distribution platfor
Banca Monte dei Paschi di Siena — Merger or Acquisition (August 2026) on 6ix