Banca Mediolanum Spa · MIL:BMED
Banca Mediolanum Spa — Q1 2025 Earnings Presentation
75 slides from Banca Mediolanum Spa's earnings presentation, May 2025
Slide 1: Q1 2025 Results & Business Update
Q1 2025 Results & Business Update
Slide 2: Table of content and colour key
Table of content and colour key Q1 2025 Group Results 3 Q1 2025 Domestic Market Results 21 Q1 2025 Spain Results 30 Business Update 32 Mediolanum Facts 43
Slide 3: Q1 2025 Group Results
3 Q1 2025 Group Results
Slide 4: Economic & Financial Highlights
Q1 2025 4 Economic & Financial Highlights Group Excellent start of the year thanks to full-service & versatile business model € mn FY 2024 FY 2023 Change € mn Q1 2025 Q1 2024 Change Net Commission Income 1,168.0 1,029.5 +13% Very positive start of the year w/ significantly-higher average AUM. Net Co
Slide 5: Business Results Highlights
Q1 2025 5 Business Results Highlights Group Robust commercial performance w/high quality & quantity net inflows € bn Q1 2025 Q1 2024 Change FY 2024 Change Extremely strong start of the year, with substantial growth in net Total Net Inflows 3.77 3.06 +23% new money. Strong contribution once again fro
Slide 6: Growth & Resilience Drivers
Q1 2025 6 Growth & Resilience Drivers Group Customer acquisition reflects success of our initiatives Automatic investment services provide great visibility to future flows 31/03/2025 31/12/2024 Change Bank Customers 1,963,300 1,918,600 +2% Customer base continues to grow at a good pace, also thanks
Slide 7: Capital Adequacy & Balance Sheet Highlights
Q1 2025 7 Capital Adequacy & Balance Sheet Highlights Group Simple & solid balance sheet structure, strong capital generation Q1 2025 0 FY 2024 CET1 Ratio remained extremely robust after implementation of final terms CET1 Ratio 22.5% 23.7% of Basel III MREL TREA 24.5% 25.9% Well above the 21.1% requ
Slide 8: Income Statement
8 Income Statement Q1 2025 € mn Group Q1 2025 Q1 2024 Change Entry fees 16.9 13.0 +30% Management fees 343.6 303.3 +13% Investment Management fees 66.9 60.1 +11% Net insurance result 56.4 48.0 +18% Banking service fees 48.5 51.2 -5% Other fees 13.8 12.5 +10% Gross Commission Income 546.1 488.0 +12%
Slide 9: Income Statement by Quarter
9 Income Statement by Quarter Q1 2025 € mn Group Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Entry fees 13.0 15.6 13.8 18.2 16.9 Management fees 303.3 316.9 323.5 340.2 343.6 Investment Management fees 60.1 62.4 63.6 66.8 66.9 Net insurance result 48.0 48.9 52.6 49.9 56.4 Banking service fees 51.2 46.8 43.1 45.9
Slide 10: Net Interest Income
10 Net Interest Income Q1 2025 € mn Group YoY Trend QoQ Trend 811 220 752 198 195 198 180 407 313 274 239 248 270 231 235 253 229 163 141 178 192 180 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25
Slide 11: Acquisition Costs in detail
11 Acquisition Costs in detail Q1 2025 € mn Group Q1 2025 Q1 2024 Change Total commissions 149.5 130.5 +15% One-time commissions 19.9 17.4 +14% Ongoing commissions 129.7 113.1 +15% Total incentives & bonuses 28.2 18.9 +49% Incentives on individual net inflows 16.2 11.8 +37% Contest & bonuses 10.9 6.
Slide 12: 2025 Net Inflows
12 2025 Net Inflows Q1 2025 € mn Group Q1 2025 Q1 2024 GROUP TOTAL NET INFLOWS +3,765 +3,064 Managed Assets +2,014 +1,180 - o/w Mutual Funds, U/L & Managed Accounts +2,123 +966 Administered Assets +1,752 +1,885 Italy - Banca Mediolanum Total Net Inlows +3,063 +2,766 Managed Assets +1,566 +927 - o/w
Slide 13: AUA/AUM Trend
13 AUA/AUM Trend Q1 2025 € mn Group Administered Assets (Q1 25: € 39.6 bn) 138.5 140.3 10y CAGR 9.4% Managed Assets (Q1 25: € 100.7 bn) 118.1 108.4 103.7 93.3 84.7 75.774.1 68.8 62.1 56.5 50.2 44.7 39.539.8 34.8 27.729.830.125.6 23.6 20.419.922.0 17.9 13.0 9.5 3.1 4.7 5.3 5.5 6.1 7.2 0.1 0.6 0.9 1.3
Slide 14: Assets under Administration/Management
14 Assets under Administration/Management Q1 2025 € mn Group 31/03/2025 31/12/2024 Change 31/03/2024 Change Italy - Banca Mediolanum 126,499 125,092 +1% 114,222 +11% Mutual Funds & U-L Policies 84,827 85,243 -0% 75,895 +12% Other Life Insurance Reserves 2,067 2,010 +3% 1,966 +5% Banking 39,604 37,83
Slide 15: Mutual Funds & Unit-linked policies look-through
15 Mutual Funds & Unit-linked policies look-through Q1 2025 as at 31/03/25 Group Fixed Income 44% Equity 55% Money market funds (incl. ‘Intelligent Investment Strategy’) 7% Cash & Other 1% Certificates not included. Cash: liquidity not invested. Other: may include hedging derivatives (shown as negat
Slide 16: Loans Granted
16 Loans Granted Q1 2025 € mn Group Q1 2025 Q1 2024 Change Mortgages 452 250 +81% Personal Loans 247 164 +51% Salary-backed Loans (Prexta)1 149 146 +2% TOTAL 849 561 +51% 3rd-party Loans 5 4 +12% 1. Includes Prexta unsecured loans
Slide 17: Credit Book Trend
17 Credit Book Trend Q1 2025 € mn Group Salary-Backed Loans (Prexta) 17.6 17.8 Lines of Credit 16.4 17.0 Personal Loans 10y CAGR 12% 14.4 Mortgages 12.1 10.4 8.9 7.8 6.5 7.1 5.6 4.8 4.1 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Q1 2025
Slide 18: Credit Book & Quality
18 Credit Book & Quality Q1 2025 € mn Group 31/03/2025 31/12/2024 Change 31/03/2024 Change Mortgages 12,639 12,512 +1% 12,061 +5% Personal Loans 2,474 2,437 +2% 2,379 +4% Lines of Credit 522 557 -6% 531 -2% Salary-backed loans (Prexta)1 2,144 2,112 +2% 1,934 +11% TOTAL 17,780 17,618 +1% 16,906 +5% 3
Slide 19: General Insurance Gross Premiums
19 General Insurance Gross Premiums Q1 2025 € mn Group Q1 2025 Q1 2024 Change Stand-alone policies 43.1 36.5 +18% New business 7.9 7.2 +9% In-force business 35.2 29.3 +20% Loan protection policies 10.1 5.8 +73% Group health policies 0.1 0.0 n.s. GROSS PREMIUMS 53.3 42.4 +26%
Slide 20: Balance Sheet Structure – Banking Group
20 Balance Sheet Structure – Banking Group Q1 2025 Group as at 31/03/2025 Straight-forward & solid balance sheet structure € mn 42,209 42,209 Cash 703 • Current account mandatory for all • High quality book: CoR at 13 bps Loans to customers • Mainly retail & collateralised customers 17,780 • Stable
Slide 21: Q1 2025 Domestic Market Results
21 Q1 2025 Domestic Market Results
Slide 22: Mutual Funds - AUM Trend
22 Mutual Funds - AUM Trend Q1 2025 € bn – including U-L assets Italy 85.2 84.8 71.2 69.7 63.1 59.1 55.3 50.0 47.6 44.2 39.8 35.3 29.2 23.7 19.620.0 15.515.2 15.8 14.1 11.7 9.6 8.4 10.011.0 7.4 8.7 3.7 4.0 3.8 3.8 4.3 5.0 1.9 2.2 0.1 0.6 0.9 1.1 1.3 1.5
Slide 23: Mutual Funds - Assets under Management
23 Mutual Funds - Assets under Management Q1 2025 € mn Italy 31/03/2025 31/12/2024 Change 31/03/2024 Change 'Best Brands' funds on funds (IRL) 29,440 30,086 -2% 28,202 +4% 'Challenge' mutual funds (IRL) 28,101 28,231 -0% 23,786 +18% Funds of Hedge Funds (IRL) 30 36 -16% 35 -14% 'Fondi Italia' mutual
Slide 24: Mutual Funds - Assets by A.M. Company
24 Mutual Funds - Assets by A.M. Company Q1 2025 as at 31/03/2025 - including U-L assets Italy Mediolanum Gestione Fondi (Italy) 10.5% other A.M. companies 15.1% Mediolanum International Funds (Ireland) 74.4%
Slide 25: Banking - Assets under Administration
25 Banking - Assets under Administration Q1 2025 € mn Italy 31/03/2025 31/12/2024 Change 31/03/2024 Change Cash deposits 26,584 25,211 +5% 24,645 +8% Repurchase agreements 4 4 +7% 3 +66% 3rd-party structured bonds 3,670 3,520 +4% 3,300 +11% Other securities 9,346 9,104 +3% 8,413 +11% BANKING ADMINIS
Slide 26: Banking - Interest Spread
Q1 2025 26 Banking - Interest Spread Italy Total Book Customer Book 4.00% 4.50% 3.70% 3.61% 4.07% 3.50% 4.00% 3.92% 3.41% 3.89% 3.20% 3.50% 3.56% 3.00% 3.00% 2.50% 2.85% 2.90% 2.76% 2.50% 2.44% 2.00% 1.99% 1.95% 1.88% 1.76% 2.00% 1.50% 1.71% 1.73% 1.45% 1.50% 1.44% 1.00% 1.22% 1.16% 1.11% 1.00% 0.99
Slide 27: Bank Balance Sheet Highlights
27 Bank Balance Sheet Highlights Q1 2025 Italy € mn – as at 31/03/2025 Liabilities Assets Customers 26,657 16,231 Treasury 5,649 17,972 Interbank / intra-group deposits & repos 801 710 ECB refinancing 0 437 MTS refinancing 4,548 0 Securities (bonds) 300 16,826 Other liabilities / assets 5,867 3,969
Slide 28: Family Banker Network - Italy
28 Family Banker Network - Italy Q1 2025 Change in headcount & Split by Average Portfolio Year 2025 Italy 4,801 4,859 -24 -12 94 > € 30 mn 379 421 34% 34% € 20-30 mn 22% 21% € 10-20 mn 4,422 4,438 26% 26% Turnover rate € 5-10 mn (last 12m) 3.2% 9% 9% 9% 10% < € 5 mn Avg. 01/01 Resigned Retired Recru
Slide 29: 'Private Bankers' & 'Wealth Advisors' - Italy
29 ‘Private Bankers’ & ‘Wealth Advisors’* - Italy Q1 2025 as at 31/03/2025 Italy Private Bankers Wealth Advisors 886 879 ( > € 30 mn AUM) ( > € 70 mn AUM) 827 Average assets in portfolio 49.8 117.5 768 791 160 158 o/w Managed Assets 36.7 87.3 127 125 125 565 584 35 45 544 75 700 726 721 643 666 529
Slide 30: Q1 2025 Spain Results
30 Q1 2025 Spain Results
Slide 31: Spain Highlights
31 Spain Highlights Q1 2025 Spain € mn Q1 2025 Q1 2024 Change vs. FY Operating Margin 15.7 23.2 -32% Net Income 14.2 18.9 -25% -0.8 Total Assets 13,446 11,303 +19% +3% Managed Assets 9,788 7,998 +22% +1% Administered Assets 3,657 3,306 +11% +9% Total Net Inflows 705 306 +130% Net Inflows into Manage
Slide 32: Business Update
32 Business Update
Slide 33: Italian FA Networks - Ranking by Net Inflows
33 Italian FA Networks - Ranking by Net Inflows Business Update € mn – totals by Group Q1 2025 Managed Assets & Managed Assets Admin. Assets w/ Total Net Inflows Advisory fee Banca Mediolanum 1,677 1,688 3,001 Gruppo Fideuram/Intesa 1,315 1,539 2,713 Allianz Bank 1,266 1,269 1,821 Mediobanca Premier
Slide 34: Italian FA Networks - Market Share
34 Italian FA Networks - Market Share Business Update Q1 2025 BMED Other FA networks Net Inflows into Net Inflows into Total Net Inflows Managed Assets Mutual Funds* 22% 23% 26% Personal Loans General Insurance Mortgages Granted Gross Premiums Granted 72% 59% 97% * including Unit-Linked policies & M
Slide 35: April 2025 Business Results
35 April 2025 Business Results Business Update € mn Apr 2025 YTD 2025 YTD 2024 GROUP TOTAL NET INFLOWS 1,126 4,892 4,089 Managed Assets 1,135 3,148 1,801 - o/w Mutual Funds, U-L & Managed Accounts 1,183 3,306 1,536 Administered Assets -8 1,743 2,289 GROUP LOANS GRANTED 308 1,157 764 GENERAL INSURANC
Slide 36: Time deposits Promo Offers
36 Time deposits Promo Offers Business Update 2023-2025 • Promotions on time deposits have been extremely effective in acquiring new liquidity from both new and existing customers • Proven track-record of transforming deposits into managed assets thanks to the advice of Family Bankers in implementin
Slide 37: Creating the NEXT Generation of the Network
Business 37 Creating the NEXT Generation of the Network Update Pairing high potential new graduates to work as junior assistants (‘Banker Consultant’) with senior Private Bankers & Wealth Advisors ● ‘Banker Consultants’ initially receive dedicated training programme (Executive Master’s) provided by
Slide 38: Automatic Investment Services
Business 38 Automatic Investment Services Update Investment services featuring automatic gradual switch into equity funds allowing customers to take advantage of dollar-cost averaging ● Big Chance (2001) • Capital is initially invested in money market fund • A portion of the assets is switched twice
Slide 39: The 'Double Chance' Service
39 The ‘Double Chance’ Service Business Update Launched June 2008 ● A long-term investment strategy/service that allows the retail investor to gradually enter the global financial markets via Mediolanum investment products, while mitigating the effects of volatility & taking advantage of Double Chan
Slide 40: The 'Intelligent Investment Strategy' Service (IIS)
40 The ‘Intelligent Investment Strategy’ Service (IIS) Business Update Launched June 2016 ● A long-term investment strategy/service (10+ yrs, € 30k+) that allows our customers to gradually enter the equity markets in order to take advantage of the overall growth of the world economy ● Designed to re
Slide 41: The 'IIS' service at work
41 The ‘IIS’ service at work Business Update Launched June 2016 ‘Market crises are buying opportunities’: not just a slogan Step ins & step outs reduce avg unit price on investments, allowing customers to benefit from market volatility. € 4.9 bn of money market managed assets were automatically inve
Slide 42: Group Customer Base
42 Group Customer Base Business Update as at 31/03/2025 Total Customers 1,963k (‘000) End Goal: to be the Customer's Primary Bank Banca 1,698 Mediolanum (ITA) 1,385k hold a bank account • 68% use BMED as Primary Bank (internal data analytics) • 39% use BMED as the Only Bank (2024 survey) Banco 266 M
Slide 43: Mediolanum Facts
43 Mediolanum Facts
Slide 44: BMED Shareholders & Group Structure
44 BMED Shareholders & Group Structure Mediolanum Facts as at 31/03/2025 BANKING Banco Mediolanum 100% Mediolanum Fiduciaria ASSET Mediolanum Mediolanum Mediolanum MANAGEMENT Gestione Fondi International Gestion S.A. 100% Funds Doris 100% Banca 95% Banca Mediolanum 100% Banco (direct & indirect Medi
Slide 45: Banca Mediolanum's Integrated Business Model
Mediolanum 45 Banca Mediolanum’s Integrated Business Model Facts ● We and our Family Bankers view the company as a single entity, providing solutions that best fit the needs of the customer, whether it be in Insurance the form of a mutual fund, an insurance policy or a bank product ● The Bank (est.
Slide 46: Banca Mediolanum's Multi-channel Model
Mediolanum 46 Banca Mediolanum’s Multi-channel Model Facts Mobile apps (all platforms) Automated Telephone Website Services (VRU / SMS) TRA TION NS MA A R A U E D D Customer FO L ED C A Banking Center IN TI 18,700 3rd-party V ON branches 600 Reps LOGISTICS (Poste & Intesa) S + 45,000 Mooney Real-tim
Slide 47: Customers: freedom in banking
47 Combining the advantages of traditional and direct banks Mediolanum Facts Family Bankers: the human touch Self-employed tied agents with entrepreneurial approach Willing to provide advice anytime, anywhere Extensively trained to tackle every household financial need Equally competent across all p
Slide 48: Italian Household Financial Assets
Mediolanum 48 Italian Household Financial Assets Facts Over the last few years asset gatherers have increased market share to the detriment of traditional banks Total HH Assets as at Dec. ‘24: € 5.98 trillion 0.00 73% 38.00 Asset gatherers growing mainly thanks to: 9.00 60% 8.00 28.00 BMED ● Demand
Slide 49: Net Income Trend
49 Net Income Trend Mediolanum Facts € mn 1,120 822 713 565 507 439 434 394 380 351 337 321 256 243 233 224 217 224 212 115 103 129 141 131 75 88 82 54 60 67 38 49 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 Q1 25 2008 & 2010: adjusted net income excl
Slide 50: Dividend Payout
50 Dividend Payout Mediolanum Facts € mn 1120 ### Net Income Retained Earnings 822 382 Base Dividends 713 Special Dividends 303 184 565 522 286 439 394 380 162 434 351 337 321 88 153 256 95 111 553 233 224 212 217 224 217 100 86 115 103 82 129 141 88 131 219 153 122 519 308 323 339 369 54 60 75 88 3
Slide 51: Net Inflows Trend
51 Net Inflows Trend Mediolanum Facts € bn 10.44 9.18 8.30 7.72 7.64 7.13 6.66 6.04 5.95 5.26 5.385.38 4.61 4.22 4.05 4.12 4.06 4.11 4.01 3.75 3.54 3.77 3.22 3.04 2.95 2.43 2.43 2.01 1.67 0.85 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Q125 Total Net Inflows Net Inflows in
Slide 52: BMED: 24 Years of Consistent Net Inflows
52 BMED: 24 Years of Consistent Net Inflows Mediolanum Facts Anti-cyclical flows mean better performance for customers thanks to dollar-cost-averaging Twin Towers 10y BTP Yield Subprime Sovereign Decreasing ITA Banks Populism Mifid II Covid-19 High Inflation Attack stable above 4% Mortgages Debt Yie
Slide 53: Family Banker Network
53 Family Banker Network Mediolanum Facts Group Licensed Financial Advisors Italy 6,415 6,491 6,216 Spain 6,054 5,762 5,633 5,525 Banker Consultants (ITA only) 5,352 5,417 5,211 5,184 5,155 5,012 5,059 5,098 5,142 5,161 5,154 4,866 4,535 4,427 4,501 4,397 4,114 3,842 3,018 2,513 2,200 2,046 1,915 1,
Slide 54: Italy - Average Assets per Family Banker
54 Italy - Average Assets per Family Banker Mediolanum Facts € mn 2% 4% > € 30 mn 34% 23% 34% € 20-30 mn 21% 31% 28.0 28.1 22% € 10-20 mn 24.2 22.9 20.4 21.3 18.7 16.3 16.2 26% 14.8 26% € 5-10 mn 12.2 13.3 9.9 10.9 40% 8.5 9% 9% 10% 9% < € 5 mn 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Slide 55: Total Customers
55 Total Customers Mediolanum Facts (‘000) Italy Spain 1,919 1,963 1,799 1,686 1,587 1,486 1,376 1,413 1,290 1,333 1,231 1,137 1,163 1,176 1,151 1,124 1,119 1,127 1,178 1,068 972 985 989 1,010 854 746 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 Q1 25
Slide 56: Italy - Average Assets per Customer
56 Italy - Average Assets per Customer Mediolanum Facts € thousands Primary Bank Account Holders 90.0 91.8 91.4 80.8 84.1 80.6 84.4 72.7 74.8 77.8 79.2 73.4 66.4 70.1 58.3 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Q1 25
Slide 57: Spain - Net Income
57 Spain - Net Income Mediolanum Facts € mn 81.1 Impairment of CGU ‘Spain’ 61.9 45.1 34.2 35.6 31.5 27.4 26.3 28.8 21.0 20.0 17.6 15.0 14.2 6.8 7.1 3.4 3.9 1.3 1.5 -0.1 0.6 -1.1 0.0 -6.3 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 Q1 25
Slide 58: Spain - Assets under Administration
58 Spain - Assets under Administration Mediolanum Facts € bn Administered Assets (Q1 25: € 3.66 bn) 13.45 13.03 Managed Assets (Q1 25: € 9.79 bn) 3.66 10.54 3.36 10y CAGR 16% 8.94 8.87 3.26 7.19 2.41 2.78 5.92 2.05 4.66 4.84 1.65 9.66 9.79 3.88 3.55 1.33 1.42 2.98 7.28 2.49 2.35 2.38 1.23 6.52 6.09
Slide 59: Spain - Net Inflows Trend
59 Spain - Net Inflows Trend Mediolanum Facts € mn 1,503 Total Net Inflows 1,259 1,107 1,018 865 705 599 619 559 607 522 451 327 94 95 114 7 35 6 35 -223 -291 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 Q1 25 1,451 Managed Asset Inflows 935 688 690 613 529 422 440 418 451 364 343
Slide 60: Spain - Credit Book
60 Spain - Credit Book Mediolanum Facts € mn 1,549 Lines of Credit 1,494 1,349 Personal Loans 10y CAGR 24% 1,170 Mortgages 1,026 745 562 451 333 187 228 157 163 169 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Q1 2025
Slide 61: Spain – Family Banker Network
Mediolanum 61 Spain – Family Banker Network Facts 1,620 1,640 1,614 1,632 1,504 1,318 996 1,029 900 835 712 755 652 593 551 524 505 453 419 448 407 439 375 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 Q1 25
Slide 62: Banking Book Composition
62 Banking Book Composition Mediolanum Facts € bn – nominal value – as at 31/03/2025 Banking Book: € 17.8 bn (nom. values) Rate Type Sector % Fixed Government 98.6% Financial 1.4% Floating 62.8% 37.2% Govies % Italy 76.9% Spain 12.7% Other EU Countries 10.4% Portfolio Portfolio 2.8 HTC 1.9 99.9% 0.1
Slide 63: Investment Advisory Strategy
Mediolanum 63 Investment Advisory Strategy Facts Our investment strategy explains the consistency of our inflows & transfers ‘technical performance’ into ‘customer performance’ ● We advise our customers proposing products & services that correspond to each of their specific needs ● Investor needs re
Slide 64: Contractual Service Margin
Mediolanum 64 Contractual Service Margin Facts CSM is the new key metric showing size and stability of revenues ready to be recognised in future years Greater visibility on future earnings from insurance business Update on Effects of new reserves, fair Revenues in the production on value, free-risk
Slide 65: Mediolanum Corporate University
65 Training & Communication Mediolanum Mediolanum Corporate University Facts ● Inaugurated March 2009 ● Centralises our training know-how, in coordination with top universities, professors and individuals who are experts in the field ● Provides our Family Bankers & employees with a resource for life
Slide 66: Corporate TV Channel
66 Training & Communication Mediolanum Corporate TV Channel Facts A proprietary state-of-the-art tool established in 1989 Online programs to train, motivate & communicate with our Family Bankers ● Financial news commented by top company executives ● Company news & product information ● Online traini
Slide 67: Mediolanum Marketing Events
Mediolanum 67 Marketing Events Facts ● 9 nation-wide in-person events, with over 60,000 between attendees & digital viewers in 2024 ● Over 2,000 digital/in-person events organised by Family Bankers: over 145,000 attendees Results are measurable: ● Net inflows into managed assets of invited customers
Slide 68: Top Performer in Customer Experience
68 Top Performer in Customer Experience Mediolanum Facts BVA Doxa Survey – Customer Satisfaction 2024 Solid customer relationship is built on best-in-class service delivery both human & digital Overall Perceived Digital Financial Advisor Satisfaction Value Platform Interaction Customer Comprehensive
Slide 69: The 3rd best known bank brand in Italy
69 The 3rd best known bank brand in Italy Mediolanum Facts Spontaneous brand awareness – Italian banks – March 2025 71% 25% 61% 22% 48% 18% 30% 17% 27% 15% source: GfK – an NIQ company
Slide 70: The most memorable adv in the banking industry
70 The most memorable adv in the banking industry Mediolanum Facts Spontaneous recall of advertisement – Italian banks – Q1 2025 40.7 30.7 21.7 16.0 8.7 8.0 7.3 5.7 5.0 4.3 4.0 2.3 2.0 1.7 source: GfK – an NIQ company
Slide 71: The development of the digital customer
71 The development of the digital customer: Business Update Launched January 2021 A totally digital Bank account addressing the needs of ‘digital young adults’ ● For those who require a full-service account, but aren’t in the market for advice like the typical BMED customer ● Not only an account but
Slide 72: Ranking of Italian Banking Groups by Market Cap
72 Ranking of Italian Banking Groups by Market Cap Mediolanum Facts € bn – as at 02/05/2025 Intesa-SanPaolo 84.6 Unicredit 82.0 Mediobanca 15.2 Banco-BPM 15.1 FinecoBank 11.0 BPER 10.4 Banca Mediolanum 10.1 MPS 9.5 Banca Generali 6.2 Pop.di Sondrio 5.1 CREDEM 4.2 Banca IFIS 1.2 Banca Desio 1.0 Banca
Slide 73: Price Return & Total Return Index
73 MED.MI / BMED.MI Mediolanum Price Return & Total Return Index* Facts 3500% Price Return 3000% Reinvested Total Return 2500% 2000% 1500% 1000% 500% 0% * Total Return Index includes dividend reinvestments, June 3, 1996 – April 30, 2025 Source: Datastream
Slide 74: Disclaimer
74 Disclaimer This document has been prepared by Banca Mediolanum S.p.A. for the sole purpose of providing information and presenting the Group’s strategies. The information, opinions, valuations and forecasts it contains have not been audited by any independent body; they may be altered at any time
Slide 75: Investor Relations Contacts
75 Investor Relations Contacts ● Alessandra Lanzone Banca Mediolanum +39-02-9049.2039 alessandra.lanzone@mediolanum.it S.p.A. Via Ennio Doris 20080 Basiglio MI – Italy ● Lisa Maxon +39-02-9049.2997 http://www.bancamediolanum.it lisa.maxon@mediolanum.it ● Luca Pugliese +39-02-9049.2721 luca.pugliese@