Banca Popolare di Sondrio S p A : Standard Ethics improves Banca Popolare di Sondrio's long-term Sustainability Rating

______________________________________________________________________________________________

PRESS RELEASE

STANDARD ETHICS IMPROVES BANCA POPOLARE DI SONDRIO'S LONG-TERM

SUSTAINABILITY RATING FROM TO "EE+" (FROM "EE" STABLE)

CORPORATE RATING CONFIRMED AT "EE", MAKING BANCA POPOLARE DI SONDRIO

ONE OF THE BEST BANKS IN ITALY

Banca Popolare di Sondrio announces that today, the independent agency Standard Ethics, at the end of the annual review process, has improved the Bank's long-term sustainability rating from "EE" stable to "EE+" and confirmed the corporate rating at "EE", positioning Banca Popolare di Sondrio among the banking institutions with the best rating in Italy.

In its final report, the agency states that Banca Popolare di Sondrio has prudently managed the transition from "cooperative society incorporated by shares" to "joint- stock company" and will maintain the rich experience derived from the tradition of cooperative banks, continuing to have strong ties with the territory and stakeholders. The agency's analysts also note that during 2021 and early 2022, the Bank has made several implementations that keep it aligned with international sustainability guidance and the latest social and environmental objectives.

The CEO and General Manager of Banca Popolare di Sondrio, Mario Alberto Pedranzini, commented as follows: "The positive feedback from an important independent agency such as Standard Ethics confirms that our bank is successfully carrying on the cooperative and socially responsible values that have distinguished it in its 150 years of history, interpreting them appropriately in the current context that focuses the attention

1

______________________________________________________________________________________________

Banca Popolare di Sondrio

______________________________________________________________________________________________

of authorities and stakeholders on the crucial issues of sustainability and ethicality of the business model."

Below for full information is the rating scale used by Standard Ethics to identify the level of compliance of company policies with ESG parameters set by the main international institutions, used as reference for the agency's assessments.

The agency's full report can be found in the sustainability section of the Banca Popolare di Sondrio's institutional website (istituzionale.popso.it).

Sondrio, 14 March 2022

Company contacts:
Investor Relations	External Relations
Michele Minelli	Paolo Lorenzini
0342-528.745	0342-528.212
[e-mail]	[e-mail]
Image Building
Cristina Fossati, Anna
Pirtali
02-890.11.300
[e-mail]

The English translation is provided solely for the benefit of the reader and in the case of discrepancies the Italian version shall prevail

2

______________________________________________________________________________________________

Banca Popolare di Sondrio