INTESA SANPAOLO: BOARD OF DIRECTORS APPROVES PARENT COMPANY DRAFT FINANCIAL STATEMENTS,
AS WELL AS CONSOLIDATED FINANCIAL STATEMENTS, AS AT 31 DECEMBER 2024

Turin - Milan, 27 February 2025 – At its meeting today, the Board of Directors of Intesa Sanpaolo approved the parent company draft financial statements, as well as the consolidated financial statements, as at 31 December 2024 which confirm the results as at 31 December 2024 approved by the Board and disclosed to the market on 4 February 2025. In 2024, net income for the parent company was 5,604 million euro (in 2023: 7,292 million euro) and consolidated net income was 8,666 million euro (in 2023: 7,724 million euro).

The approval of the parent company draft financial statements includes the approval of the proposal for net income allocation, which reflects the proposal made by the Board of Directors upon approval of the results as at 31 December 2024 and disclosed to the market on 4 February 2025.

The parent company financial statements as at 31 December 2024 and the proposal regarding a cash distribution of 17.1 euro cents per share, before tax, as remaining dividend will be submitted for approval at the Ordinary Shareholders’ Meeting scheduled for 29 April 2025. Specifically, the Board of Directors has decided to propose at the next Ordinary Shareholders’ Meeting a total distribution of 6,066,823,968.30 euro, corresponding to a payout ratio of 70% of consolidated net income. The proposal, given the interim dividends of 3,022,396,312.63 euro ^(*) paid in November 2024, is to distribute 3,044,427,655.67 euro ^(**) as remaining dividends, corresponding to 17.1 euro cents for each of the 17,803,670,501 ordinary shares. No distribution will be made to own shares held by the Bank at the record date. The distribution, if approved at the Shareholders’ Meeting, will take place from 21 May 2025 (with coupon presentation on 19 May and record date on 20 May).

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(*)    Interim dividends are considered net of the portion not distributed to the 24,868,662 own shares held by the Bank at the record date, amounting to 4,227,672.54 euro.

(**)  From the Parent Company’s net income of 5,603,701,744.05 euro, an amount of 303,700,836.47 euro is to be allocated to unavailable reserve, relating to fair value valuation effects. The proposal of the Board of Directors, therefore, envisages the cash distribution of 2,252,164,318.38 euro as remaining dividends on the Parent Company’s net income (corresponding to 12.65 euro cents for each share) and 792,263,337.29 euro as assignment of reserves drawn on the Share Premium Reserve (corresponding to 4.45 euro cents for each share). The assignment of reserves will be subject to the same tax regime as the distribution of dividends.

 

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