Banco di Desio e della Brianza s.p.a.: Result of the Rating action carried out by Fitch Ratings on 31 May 2024

PRESS RELEASE

BANCO DI DESIO E DELLA BRIANZA S.p.A.: RESULT OF THE RATING ACTION

CARRIED OUT BY FITCH RATINGS ON 31 MAY 2024

Desio, 31 May 2024 - Banco di Desio e della Brianza S.p.A. announces that the international agency Fitch Ratings, following its annual rating review, has confirmed the IDR ratings assigned to the Bank and raised the ratings on Deposits by one notch.

The positive opinion of the Agency on the IDR reflects the constant improvement of the Bank's key indicators, in particular in terms of profitability and asset quality, meriting an upgrade of the respective outlook. Also recognised is the Bank's solid capital base, whose rating is upgraded to "investment grade" with an adequate funding profile. The Agency notes that the economic and financial objectives established by the three-year Strategic Plan have been exceeded thanks to the acceleration of the risk reduction strategy. This has translated into greater profitability and a surplus of capital available for growth, also through extraordinary finance transactions. The improvement in profitability is supported both by the recent acquisitions of branches, which make it possible to improve the spread of the Bank's franchising, and by the ongoing operations aimed at consolidating and expanding the Banking Group's presence in the consumer credit sector, with tangible effects on the stability and diversification of revenues and the cross-selling of equity and insurance products. The robust levels of coverage on NPLs also provide the Bank with an adequate buffer to absorb any reduction of asset quality expected at System level. Lastly, the Agency raised the ratings on the Bank's short- and medium- long term deposits by one notch, reflecting the high level of protection that would be afforded to depositors in a default scenario, thanks to the MREL buffer on regulatory capital requirements.

The updated ratings are shown below:

• Long-termIDR: confirmed at "BB+" Stable Outlook
• Viability Rating: confirmed at "bb+"
• Short-termIDR: confirmed at "B"
• Government Support Rating: confirmed at "No Support"
• Short-termDeposit Rating: improved from "B" to "F3"
• Medium-/Long-termDeposit Rating: improved from "BB+" to "BBB-"

Fitch Ratings' full press release is also available on the Agency's website (https://www.fitchratings.com).

BANCO DI DESIO E DELLA BRIANZA S.p.A.

The Chair

Contacts:
Investor Relator	Corporate Affairs	Close to Media Press Office
Giorgio Besana	Tel. [phone]	Marco Gabrieli
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	Enrico Bandini
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	[e-mail]	Eleonora Nespoli
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