Risk Committee

The Company has established a Risk Committee in line with CSDR.

The Risk Committee is an advisory committee of the Board of Directors. It shall give to the Board of Directors its mandatory non-binding opinion on any arrangements that may impact the risk management arising from the activities of Monte Titoli.

The Committee may also make recommendations to the Board of Directors with respect to any matters that may impact the risk management.

Once a year, the Committee shall produce a report on the activities carried out and the evaluation of the Company’s risk management. Such report is attached to the annual report on the organizational structure and risk management to be sent to the Supervisory Authorities.

According to the terms of reference of the Risk Committee, the same is composed by 3 Non Executive Directors, two of whom are Independent Directors:

Role in the Board of Directors

Role in the Risk Committee

Name

Independent Non Executive Director

Chairman

Alfredo Maria Magri

Independent Non Executive Director

Vice Chairman

Francesca Fiore

Non Executive Director

Member

Paolo Cittadini