Earnings release
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THE MEDIOLANUM BANKING GROUP Press Release 2026 First Half Results Net Income of €555 million in the first six months, up 16% year on year TOTAL ASSETS: €168.23 BILLION CREDIT BOOK: €19.69 BILLION COMMON EQUITY TIER 1 RATIO: 22.7% The Board of Directors of Banca Mediolanum S.p.A., which met today, approved the Consolidated Interim Financial Statements of the Mediolanum Group as of June 30, 2026. Massimo Doris , CEO of Banca Mediolanum , comments: “The first half of 2026 was once again a remarkably successful period for Banca Mediolanum. Net income reached €555.5 million, up 16% year- on-year. Even more importantly, this result was underpinned by the strength of our core business, as evidenced by an operating margin of €683.8 million, up 20% compared with the first half of last year. These figures further confirm the solidity of our business model and its ability to generate sustainable value. Equally significant were the results achieved in terms of total assets, which reached a new record of €168 billion. Our credit book also continued to expand, approaching €20 billion. Customer base maintained its positive growth trajectory, reaching 2,089,500, supported by the acquisition of around 110,000 new customers during the first half. Finally, the number of Family Bankers increased by 5% since the beginning of the year, reaching 7,164”. Doris concluded: “The results achieved in the first half of the year give me great confidence and optimism for the second half of 2026 and, more broadly, for the future of our Bank. They confirm the strength of Banca Mediolanum’s organic growth model and our ability to continue pursuing this path with determination and consistency”.
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FINANCIAL RESULTS AS AT JUNE 30, 2026 € millions H1 2026 H1 2025 Change Entry fees 30.3 32.0 -5% Management fees 762.5 681.1 +12% Investment Management fees 143.1 130.7 +9% Net insurance result 112.1 110.8 +1% Banking service fees 157.8 122.7 +29% Other fees 28.9 27.6 +5% Gross Commission Income 1,234.7 1,104.7 +12% Acquisition costs (442.0) (379.3) +17% Other commission expenses (87.1) (81.0) +8% Net Commission Income 705.7 644.4 +10% Net interest income 478.5 366.8 +30% Net income on other investments (0.8) 23.4 n.s. LLP (Impairment on loans) (20.4) (14.0) +45% Other revenues & expenses (0.6) (0.1) n.s. Contribution Margin 1,162.4 1,020.5 +14% G&A expenses (410.1) (389.9) +5% Contributions to banking & insurance industries (9.5) (8.9) +7% Depreciation & Amortization (20.9) (16.9) +24% Provisions for risk & charges (38.1) (34.2) +11% Operating Margin 683.8 570.6 +20% Performance fees 73.7 48.8 +51% Net income on investments at fair value 10.4 19.1 -45% Extraordinary items (8.2) (1.1) n.s. Non-recurring items 76.0 66.8 +14% PROFIT BEFORE TAX 759.8 637.3 +19% Income tax (204.3) (160.0) +28% NET INCOME 555.5 477.3 +16% The solid performance of commercial results, together with the strong growth in assets under management over the last twelve months, led to Net Commission Income of €705.7 million, up 10% compared with the first half of 2025. Management fees and Investment Management fees in the first half of 2026 benefited from the positive contribution of net inflows and favourable market performance. Net insurance result increased by 1% compared with the same period last year, although it was affected by the financial charge arising from the upfront payment of stamp duty on the portfolio of Unit-Linked policies classified under IFRS 9. In addition, certificate sales remained strong throughout the first half, contributing to a 29% year-on-year increase in Banking service fees. Net interest income of €478.5 million increased by 30% compared with the first half of 2025, mainly driven by the lower funding cost of customer deposits and treasury.
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Loan loss provisions of €20.4 million increased compared with €14.0 million in the first half of 2025. The Cost of risk as at June 30, 2026, calculated on a rolling 12-month basis, remained contained at 19 basis points. As a result, Contribution margin amounted to €1.16 billion , up 14% year on year, driven by the contribution from all business segments. General and administrative expenses amounted to €410.1 million, up 5% compared with the same period last year, while Contributions to banking & insurance industries amounted to €9.5 million, up 7% year on year. The Cost/Income ratio declined from 37.6% as at December 31, 2025 to 36.1%, thanks to higher revenues and disciplined approach to expenses. Operating margin amounted to €683.8 million, up 20% compared with €570.6 million in the first half of 2025. Non-recurring items amounted to €76.0 million mainly driven by the positive contribution from performance fees and fair value items. Extraordinary items also include certain offsetting elements related to (i) the financial and economic effects arising from the preliminary agreement for the disposal of the subsidiary Flowe, including its first-half 2026 earnings contribution, (ii) the effects arising from the present value adjustment of the upfront payment of stamp duty on life insurance products relating to the second tranche of the IFRS 9 portfolio outstanding as at 31 December 2024, and (iii) the recognition of interest accrued over the 2012-2024 period, net of tax effects, on the receivable due from the tax authorities in respect of excess Italian regional tax (IRAP) paid on dividends received from foreign subsidiaries. Profit before tax increased 19% to €759.8 million, while Net income amounted to €555.5 million, up 16% compared with the first half of 2025. BUSINESS RESULTS AS AT JUNE 30, 2026 Total net inflows were positive at €6.37 billion, up 4% year on year, while Net inflows into managed Assets amounted to €4.20 billion, down 7% from the record first half of 2025. Total assets stood at €168.23 billion, up 8% since year-end 2025 and up 16% compared with June 30, 2025, supported by the strong net inflows generated by the Group and the positive contribution from financial markets. Loans granted during the period amounted to €2.08 billion, up 12% compared with €1.86 billion in the first half of 2025. Credit book stood at €19.69 billion, up 4% since year-end and 9% compared with 30 June 2025. General insurance premiums reached €129.1 million , up 13% year-on-year, with the stand-alone policies portfolio growing by 15%.
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BALANCE SHEET & CAPITAL RATIOS AS AT JUNE 30, 2026 Common equity tier 1 ratio as at 30 June 2026 stood at 22.7%, compared with 23.0% as at 31 December 2025. Minimum requirement for own funds and eligible liabilities – Total risk exposure amount (MREL TREA) stood at 25.7%, well above the 22.0% requirement applicable for 2026. Leverage ratio amounted to 8.6%, compared with 9.5% as at 31 December 2025. The Liquidity coverage ratio stood at 406%, while the Net stable funding ratio stood at 185%. Risk-weighted assets amounted to €16.97 billion, compared with €16.68 billion as at 31 December 2025. Shareholders’ Equity as at 30 June reached €4.58 billion; for prudential purposes, Own Funds stood at €3.86 billion. Loan/deposit ratio stood at 61.6%, down from 62.2% as at 31 December 2025, driven by the increase in customer deposits. Gross non‑performing exposures (NPE) came in at 1.51%, while the Net NPEs were at 0.75%. KEY OPERATING METRICS The total number of Customers stood at 2,089,500, up 3% compared with the beginning of the year, also driven by the acquisition of around 110,000 new clients. As at 30 June 2026, the number of Family Bankers amounted to 7,164, up 5% versus year-end, while the number of Employees amounted to 4,166, up 3%. UPDATE ON KEY INITIATIVES Among the key initiatives launched during the first half of 2026 was the promotional campaign on time deposits, which offered customers who brought new liquidity to Banca Mediolanum during the first quarter an annual interest rate of 3% on six-month time deposits. The initiative generated €1.7 billion in new deposits, which will become available for reallocation over the summer as the time deposits mature. In addition, by the end of the first half of 2026, the €1.5 billion raised through the September 2025 edition of the campaign had fully matured. As of July 20th, 70% of these funds had already been reinvested in managed asset products, in line with previous editions, once again confirming Banca Mediolanum's ability to guide customers towards an appropriate and efficient allocation of their savings. During the first half of 2026, recruitment of new Family Bankers accelerated significantly, with 394 new financial advisors joining the network in Italy, primarily from outside the financial sector, traditional banks and insurance companies. Banco Mediolanum in Spain also contributed to the growth of the advisory network by recruiting 75 new Family Bankers during the first half.
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The rollout of Next, our programme designed to train and develop Banker Consultants also continued, helping to prepare talented young professionals who support Family Bankers in managing customer relationships. As of July 28, the total number of Banker Consultants had reached 783, up from 590 at the end of December 2025, reflecting Banca Mediolanum's continued commitment to developing young talent and further strengthening its service model in preparation for future growth. In addition, more than 164 recent graduates are currently undergoing training and are expected to join the network over the coming months. The rollout of Grandi Patrimoni, Banca Mediolanum's dedicated offering for Italian families with significant wealth, also continued. The initiative is designed to provide a highly sophisticated advisory service capable of addressing complex financial needs through a strategic, personalised and long-term approach. At the end of June, the number of customers with assets exceeding €2 million had surpassed 4,500, representing total assets of €21 billion. Finally, Banca Mediolanum continued to accelerate the development of its AI programme, aimed at enhancing both operational efficiency and support for Family Bankers and customers. To date, more than 100 initiatives are currently in the pilot stage, 19 of which have already been deployed, delivering positive results in terms of cost efficiency, service quality and individual productivity. SIGNIFICANT EVENTS AFTER JUNE 30, 2026 On 2 July 2026, Banca Mediolanum entered into a preliminary agreement for the disposal of its stake in Flowe to Dinit d.o.o., a Slovenian company operating in the payments sector. The transaction is subject to approval by the relevant supervisory authority, upon receipt of which the transfer of ownership will be completed. No events have occurred after 30 June 2026 that would materially affect the Group's financial position, financial performance or results of operations. 2026 GUIDANCE Outlined below are the expected results for the Group’s 2026 performance, covering key business, economic, and financial indicators: • Net Inflows into Managed Assets still solid, with volumes around €9 billion in line with 2025, assuming stable markets. • Net Interest Income expected to increase by 15%-18% versus the previous year. • Cost/Income Ratio around 38%. • Cost of Risk at some 20 basis points. • Dividend to increase with respect to the 2025 base dividend of €0.80 (subject to approval).
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RECLASSIFIED GROUP BALANCE SHEET Assets € millions 30/06/2026 31/12/2025 Cash and cash equivalents 187 162 Financial assets at FVPL 54,389 48,154 a) held for trading 1,385 394 b) designated at fair value 52,748 47,554 c) mandatorily measured at fair value 256 206 Financial assets measured at fair value through other comprehensive income 1,779 1,787 Financial assets measured at amortised cost 40,069 36,962 a) due from banks 1,247 1,159 b) loans to customers 38,822 35,802 Insurance contract assets 76 77 Property and equipment 202 204 Intangible assets 217 221 - o/w goodwill 126 126 Tax assets 914 1,008 a) current 719 821 b) deferred 195 187 Non-current assets held for sale and discontinued operations 33 - Other assets 1,276 1,364 TOTAL ASSETS 99,142 89,938 0 0 Liabilities and Shareholders’ Equity 0 0 € millions 30/06/2026 31/12/2025 Financial liabilities measured at amortised cost 36,843 33,078 a) due to banks 1,055 630 b) due to customers 35,284 32,133 c) debt certficates including bonds 505 314 Financial liabilities held for trading - - Financial liabilities designated at fair value 24,145 21,809 Tax liabilities 303 428 a) current 225 338 b) deferred 78 90 Liabilities associated with non-current assets held for sale 3 Other liabilities 1,428 1,265 Employee termination indemnities 11 12 Allowances for risks and charges 406 397 a) commitments and guarantees given 2 2 b) post-employment benefits - - c) other allowances for risks and charges 404 396 Insurance contract liabilities 31,425 28,455 Valuation reserves 7 9 Reserves 3,451 3,142 Interim dividends - (444) Share premium reserve 9 9 Share capital 601 601 Treasury shares (-) (45) (61) Net Profit (Loss) for the period (+/-) 556 1,238 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 99,142 89,938
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RECLASSIFIED GROUP BALANCE SHEET – QUARTERLY TREND Assets € millions 30/06/2025 30/09/2025 31/12/2025 31/03/2026 30/06/2026 Cash and cash equivalents 409 320 162 220 187 Financial assets at FVPL 44,704 46,956 48,154 48,669 54,389 a) held for trading 1,212 1,188 394 1,438 1,385 b) designated at fair value 43,292 45,566 47,554 46,953 52,748 c) mandatorily measured at fair value 199 202 206 278 256 Financial assets measured at fair value through other comprehensive income 2,224 1,965 1,787 1,883 1,779 Financial assets measured at amortised cost 36,300 36,550 36,962 40,833 40,069 a) due from banks 979 1,205 1,159 1,290 1,247 b) loans to customers 35,321 35,345 35,802 39,543 38,822 Insurance contract assets 75 74 77 78 76 Property and equipment 212 209 204 222 202 Intangible assets 214 215 221 219 217 - o/w goodwill 126 126 126 126 126 Tax assets 711 689 1,008 991 914 a) current 539 511 821 807 719 b) deferred 173 177 187 183 195 Non-current assets held for sale and discontinued operations - - - - 33 Other assets 1,125 1,181 1,364 1,164 1,276 TOTAL ASSETS 85,975 88,159 89,938 94,279 99,142 Liabilities and Shareholders’ Equity 0 0 € millions 30/06/2025 30/09/2025 31/12/2025 31/03/2026 30/06/2026 Financial liabilities measured at amortised cost 33,788 33,768 33,078 37,813 36,843 a) due to banks 369 525 630 1,350 1,055 b) due to customers 33,113 32,932 32,133 35,963 35,284 c) debt certficates including bonds 306 310 314 501 505 Financial liabilities held for trading - - - - - Financial liabilities designated at fair value 19,815 20,851 21,809 21,655 24,145 Tax liabilities 317 348 428 497 303 a) current 208 250 338 415 225 b) deferred 110 98 90 81 78 Liabilities associated with non-current assets held for sale - - - - 3 Other liabilities 1,532 1,061 1,265 1,163 1,428 Employee termination indemnities 13 12 12 11 11 Allowances for risks and charges 355 372 397 395 406 a) commitments and guarantees given 2 1 2 1 2 b) post-employment benefits - - - - - c) other allowances for risks and charges 353 371 396 394 404 Insurance contract liabilities 25,976 27,312 28,455 27,970 31,425 Valuation reserves 250 7 9 7 7 Reserves 2,901 3,152 3,142 4,386 3,451 Interim dividends - - (444) (444) - Share premium reserve 9 9 9 9 9 Share capital 601 601 601 601 601 Treasury shares (-) (61) (61) (61) (61) (45) Net Profit (Loss) for the period (+/-) 477 726 1,238 276 556 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 85,975 88,159 89,938 94,279 99,142
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RECLASSIFIED CONSOLIDATED INCOME STATEMENT BY QUARTER € millions Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Entry fees 16.9 15.1 14.3 17.3 15.3 15.1 Management fees 343.6 337.4 360.5 372.8 375.2 387.3 Investment Management fees 66.9 63.8 68.1 70.4 71.1 72.1 Net insurance result 56.4 54.4 53.6 59.1 57.4 54.7 Banking service fees 48.5 74.1 59.5 76.5 80.5 77.4 Other fees 13.8 13.8 13.4 15.2 14.3 14.6 Gross Commission Income 546.1 558.6 569.3 611.3 613.8 620.9 Acquisition costs (186.9) (192.4) (195.3) (221.0) (216.0) (226.0) Other commission expenses (42.9) (38.0) (49.9) (45.8) (44.3) (42.8) Net Commission Income 316.2 328.2 324.2 344.4 353.5 352.2 Net interest income 180.0 186.8 214.9 230.4 236.3 242.2 Net income on other investments (.3) 23.7 .0 (1.4) (0.1) (0.7) LLP (Impairment on loans) (1.4) (12.7) (6.6) (11.0) (6.6) (13.8) Other revenues & expenses .6 (.7) .7 (3.9) (1.2) 0.6 Contribution Margin 495.1 525.4 533.2 558.6 581.9 580.5 G&A expenses (185.4) (204.5) (174.8) (205.9) (197.9) (212.2) Contributions to banking & insurance industries (4.6) (4.3) (4.3) (9.4) (4.8) (4.7) Depreciation & Amortization (7.7) (9.1) (9.6) (9.9) (10.8) (10.1) Provisions for risk & charges (18.2) (16.1) (23.6) (25.8) (18.3) (19.8) Operating Margin 279.1 291.4 320.8 307.6 350.1 333.7 Performance fees 39.2 9.6 14.6 193.2 35.2 38.5 Net income on investments at fair value 12.8 6.3 4.3 4.7 (4.7) 15.1 Extraordinary items (1.1) - (4.6) 97.3 (1.1) (7.1) Non-recurring items 50.9 15.9 14.2 295.2 29.4 46.6 PROFIT BEFORE TAX 330.0 307.3 335.1 602.8 379.5 380.3 Income tax (86.7) (73.3) (86.3) (90.9) (103.3) (101.0) NET INCOME 243.3 234.0 248.8 511.9 276.2 279.4
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PROFIT & LOSS FIGURES DATA BY DIVISION Figures as at June 30, 2026 MEDIOLANUM GROUP ITALY FOREIGN MARKETS TOTAL Euro thousands BANKING ASSET MANAGEMENT INSURANCE OTHER/ UNALLOCATED TOTALE SPAGNA GERMANIA Entry fees - 16,338 - - 16,338 13,995 - 30,333 Management fees - 390,680 294,299 - 684,979 75,086 2,432 762,497 Investment Management fees - 75,792 54,371 - 130,163 12,410 530 143,103 Net Insurance result - - 104,802 - 104,802 7,132 175 112,109 Banking services fees 151,884 - - - 151,884 5,925 - 157,809 Other fees 491 17,026 8,244 710 26,471 2,313 94 28,878 Total commission income 152,375 499,837 461,716 710 1,114,637 116,861 3,231 1,234,729 Acquisition costs (67,944) (177,643) (141,563) (1,252) (388,402) (52,643) (917) (441,962) Other commission expenses (40,181) (20,158) (16,576) (17) (76,932) (9,896) (223) (87,051) Total commission expenses (108,125) (197,801) (158,139) (1,269) (465,334) (62,539) (1,140) (529,013) Net commission income 44,250 302,035 303,577 (559) 649,303 54,322 2,091 705,716 Net interest income 424,593 (6,225) 22,577 72 441,017 37,126 360 478,503 Net income (loss) on other investments 615 - (1,323) (2) (710) (138) - (848) Impairment on loans (19,847) - - - (19,847) (536) - (20,383) Other revenues & expenses (3,721) 473 6 2,053 (1,190) 568 1 (621) CONTRIBUTION MARGIN I 445,889 296,284 324,837 1,564 1,068,573 91,342 2,452 1,162,367 Direct & Indirect Allocated costs (123,838) (61,183) (66,506) (4,118) (255,645) (48,655) (235) (304,535) Contributions to Banking & Insurance Industry (146) - (9,354) - (9,500) - - (9,500) CONTRIBUTION MARGIN II 321,905 235,101 248,977 (2,555) 803,429 42,687 2,217 848,332 Unallocated Costs - - - (105,546) (105,546) - - (105,546) Amortisation & depreciation - - - (14,213) (14,213) (6,682) (9) (20,904) Provisions for risk & charges - - - (33,376) (33,376) (4,702) - (38,078) OPERATING MARGIN 321,905 235,101 248,977 (155,690) 650,293 31,303 2,208 683,804 Performance fees - 51,552 16,674 - 68,226 5,131 371 73,728 Net income on investments at fair value 9,967 (129) (252) - 9,586 827 35 10,448 Extraordinary items (1,101) - (4,309) (2,766) (8,176) - - (8,176) Non-recurring items 8,866 51,423 12,113 (2,766) 69,636 5,958 406 76,000 PROFIT BEFORE TAX 330,771 286,524 261,090 (158,456) 719,929 37,261 2,614 759,804 Income tax - - - - (197,405) (6,502) (369) (204,276) NET INCOME 330,771 286,524 261,090 (158,456) 522,524 30,759 2,245 555,528
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Figures as at June 30, 2025 MEDIOLANUM GROUP ITALY FOREIGN MARKETS TOTAL Euro thousands BANKING ASSET MANAGEMENT INSURANCE OTHER/ UNALLOCATED TOTALE SPAGNA GERMANIA Entry fees - 17,889 - - 17,889 14,065 - 31,954 Management fees - 360,367 254,376 - 614,743 63,786 2,531 681,060 Investment Management fees - 69,149 50,541 - 119,690 10,490 532 130,712 Net Insurance result - - 103,891 - 103,891 6,503 380 110,774 Banking services fees 116,894 - - - 116,894 5,756 - 122,650 Other fees 391 15,132 8,103 1,769 25,395 2,075 103 27,573 Total commission income 117,285 462,537 416,911 1,769 998,502 102,675 3,546 1,104,723 Acquisition costs (50,787) (168,259) (117,264) 1,200 (335,111) (43,217) (998) (379,325) Other commission expenses (35,891) (18,235) (17,236) - (71,362) (9,349) (253) (80,964) Total commission expenses (86,678) (186,494) (134,500) 1,200 (406,473) (52,566) (1,251) (460,289) Net commission income 30,607 276,043 282,411 2,969 592,030 50,109 2,295 644,434 Net interest income 337,062 (13,263) 16,502 37 340,338 25,957 458 366,753 Net income (loss) on other investments 5,359 27 3,664 14,057 23,108 329 - 23,437 Impairment on loans (13,758) - - - (13,758) (290) - (14,048) Other revenues & expenses (2,839) 381 (542) 2,296 (704) 613 2 (89) CONTRIBUTION MARGIN I 356,431 263,188 302,035 19,359 941,013 76,718 2,755 1,020,487 Direct & Indirect Allocated costs (118,339) (58,572) (61,681) (3,657) (242,248) (41,308) (213) (283,769) Contributions to Banking & Insurance Industry (647) - (8,251) - (8,898) - - (8,898) CONTRIBUTION MARGIN II 237,446 204,616 232,102 15,703 689,867 35,410 2,542 727,819 Unallocated Costs - - - (106,161) (106,161) - - (106,161) Amortisation & depreciation - - - (11,695) (11,695) (5,160) (9) (16,864) Provisions for risk & charges - - - (31,815) (31,815) (2,409) - (34,224) OPERATING MARGIN 237,446 204,616 232,102 (133,969) 540,196 27,841 2,533 570,570 Performance fees - 37,406 9,772 - 47,178 1,479 113 48,770 Net income on investments at fair value 18,735 (197) (33) - 18,505 574 36 19,115 Extraordinary items (1,131) - - - (1,131) - - (1,131) Non-recurring items 17,604 37,209 9,739 - 64,552 2,053 149 66,754 PROFIT BEFORE TAX 255,050 241,825 241,841 (133,969) 604,748 29,894 2,682 637,324 Income tax - - - - (154,283) (5,392) (357) (160,032) NET INCOME 255,050 241,825 241,841 (133,969) 450,465 24,502 2,325 477,292
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RATINGS Rating Agencies Long Term Short Term Outlook Standard & Poor’s Global Ratings BBB+ A-2 Positive Fitch Ratings BBB+ F2 Stable DISCLAIMER The Officer responsible for preparing Banca Mediolanum S.p.A accounting documents, Angelo Lietti, declares that, in compliance with the requirements of the second paragraph of section 154 bis of the Consolidated Finance Act, the financial information contained herein corresponds to the accounting entries, records and books. An English-language presentation of the data contained in this document will be made available on the Teleborsa S.r.l. storage mechanism at www.emarketstorage.com and on the website www.bancamediolanum.it in the Investor Relations section. This Press Release may contain forward-looking information, including statements that do not relate exclusively to historical facts or current events and are, as such, subject to uncertainty. Forward-looking information is based on a number of assumptions, expectations, projections and provisional data relating to future events and is subject to numerous uncertainties and other factors beyond the control of Banca Mediolanum S.p.A. (the “Company”). There are many factors that may cause actual results and performance to differ materially from those expressed or implied in the forward-looking information and, therefore, such information is not a reliable indicator of future performance. The Company undertakes no obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law. The information and opinions contained in this Press Release are provided as of the date hereof and are subject to change without notice. This Press Release, in whole or in part, or its distribution, does not constitute, and may not be relied upon as, the basis for any contract or investment decision. The information, statements and opinions contained in this Press Release are provided for information purposes only and do not constitute an offer to the public under any applicable law, nor an offer to sell or a solicitation to purchase or subscribe for securities or financial instruments, nor any advice or recommendation with respect to such securities or financial instruments. The securities referred to in this Press Release have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended, or under the securities laws of any state or other jurisdiction of the United States, nor in Australia, Canada or Japan or in any other jurisdiction in which such offer or solicitation would be unlawful (the “Other Countries”), and no public offering of such securities will be made in the United States or in the Other Countries. This Press Release does not constitute, and is not part of, an offer or solicitation to purchase or subscribe for securities in the United States or in the Other Countries. In order to provide further insight into the Group’s performance, certain Alternative Performance Measures (APMs) have been used (such as the Cost/Income Ratio and Cost of Risk), the definitions of which are included in the Glossary of the Consolidated Interim Financial Report for the six months ended 30 June 2026, in line with the guidelines published on 5 October 2015 by the European Securities and Markets Authority (ESMA/2015/1415). Basiglio - Milano 3 City, July 30, 2026 Contacts: Media & Public Relations Investor Relations Roberto De Agostini Alessandra Lanzone Tel +39 02 9049 2100 Tel +39 02 9049 2039 Mob +39 348 8100 802 Mob +39 335 5684 808 e-mail: roberto.deagostini@mediolanum.it e-mail: alessandra.lanzone@mediolanum.it