Banca Carige S p A Cassa di Risparmio di Genova e Imperia : Election and composition of the Board of Directors and Board of Statutory Auditors - Additional clarification

PRESS RELEASE

ELECTION AND COMPOSITION OF THE BOARD OF DIRECTORS AND BOARD OF STATUTORY AUDITORS - ADDITIONAL CLARIFICATION

Genoa, 2 January 2020 - As an integration of the information provided in the Notice of Call of the Ordinary Shareholders' Meeting to be held on 31 January 2020 and in the relevant Temporary Administrators' Reports, as well as in the press release issued on 30 December 2019, Banca CARIGE S.p.A. informs that art. 1, paragraphs 302 et seq., of Law No. 160/2019 published in the Official Journal of the Italian Republic No. 304 of 30 December 2019 - concerning the "State Budget for financial year 2020 and multi-annual Budget for the three- year period 2020-2022" - has introduced additional amendments to articles 147-ter (on the election and composition of the Board of Directors) and 148 (on the composition of the Board of Statutory Auditors) of Legislative Decree No. 58 of 24 February 1998 (the Consolidated Law on Finance), requiring that -when the members of these bodies are elected- a membership apportionment criterion should be adopted that ensures gender balance, so that the least represented gender obtains at least two fifths (instead of one third as previously required) of the elected members of the Board of Directors and standing members of the Board of Statutory Auditors. Such gender balance criterion shall apply to six consecutive terms of office.

The foregoing membership apportionment criterion shall apply from the first renewal of the Board of Directors and the Board of Statutory Auditors following the entry into force of the afore-mentioned Law No. 160/2019 (1 January 2020).

The Italian Securities and Exchange Commission, Consob, regulates on the subject of infringement, application and observance of the rules on gender quotas, including with reference to the preliminary phase and the procedures to be adopted, on the basis of its own regulations, which shall be adopted within six months of the date of entry into force of the provisions at issue.

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