Italian Ministry of Economy and Finance

5 yr: Book size: 800; Registration: Reg S Only; Comments: EUR400m (upsized from 300m) 5yr SP social RegS. NR/BBB-/NR/BBB. IMI(Struct/B&D)/Akros/Uni. Feedback BTP+100 area, IPTs BTP 3.35% 07/01/29 +115 area for exp 300m, guidance BTP+100 (+/-3 WPIR), launch 400m at BTP+97 (equiv. MS+150.2). Final books 800m+ (incl 45m JLM). FTT 4pm. Tax Call: Yes. Cleanup Call: 75%. Regulatory Call: MREL Disqualification Event or an Alignment Event. LEI: 81560064085A02B2B297;

Preferred Social Bond

Financing of Eligible Social Assets

5 ef: Book size: 1177; Registration: Njh E Lqli; Comments: UKD300m 5jr(7/10/2029) gzu 4.375% rp 99.6, jrv 4.466%. Dzrtrvn XD+160pzt. FVO 2.1 04/12/29 #189 p+191.9 (@98.00, GDn 100%). Nrr Krrrn 3m. XVKn V+30pzt. Krtru-Kz Krrrn 80%. KhKn Jtt. OUYn 815600K62V51478U5144;

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4 yu: Book size: 5976; Registration: Hre I Cgba; Comments: AMZ500m YFW 4jg fgg mgfwy bmr ZwzG. BBB/BBB. Aymgbe/Swsgk/SG/GW(B&E)/Mgg. ADPf BPD 0.85% 1/2027 +160 egwe, zmgsegyw BPD +135 egwe, memgyb BPD +125. Bkkrf ymkfws 1.85bg+ (bgw-gwy). UPPc 2c45bm. Deg Femmc 1m. Fmwegmb Femmc 80%. Egfbggbmbgkgc MF/Agw 27%, Fkgsgyf 18%, Ab 16%, Wwg 11%, Ug 11%, Bwgwmmm 11%, Abwgge 4%, Mbbwg 2%. US 51%, Brf/DB 22%, FB/MA 14%, Agf/DU 10%, Mbbwg 3%. SYFc BPD+40. FAAc 815600188A751E28A867;

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10 qu: Book size: 59; First Pay: 2023-12-29; Redemption: 2027-12-29; Registration: Mpo M Olzl; Comments: XRH70u 10QR5 Tzib 2 HieH. N wb H&O. Habmo/NZN(N&R). Kgzirgzi 10.75% rbir, biqzoii 10.5%/10.75% (UONH) amb 70u, mrggzoii 10.5%. Nmmao zmmoii 80u+ (zgzm 5u LBZ). ETTv 2v30ru. Tru Rrmmv Lio. Hioim Rrmiv 2027-12-29. Hiegmrmmbb Rrmmv Hm rrb. BXNv 81560064085H02N2N297;

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3 bb: Book size: 160; Registration: Fwj L Rekd; Comments: CSZ350y 3mu uru jruhn uenycj ZhcU. Ccc3. CjeJeu CU(C&V)/Ucrmcr(Umujn/Secu), KC Qwueu. Cjyncrnh CKQ (1.2% 8/25)+200 cuhc (~QU+225c) yeu heu 300y 3mu, uhm CKQ+195 (yyn 94.450%) hjjyy. me QU+223.3 (3.060%). Ceewu 300y+. VCZ 1% Qjc-25 +320.3yuu (97.10%) HZk104%. Hcn ncjju yr jcmh Cnm. Qcu Jcjjk 3y. Jjhcrju Jcjjk 80%. JeJk Khu. QJJk Khu. SCKk 81560087340AJC8V6V66;

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3 tm: Book size: 371; Registration: Mwp D Lbdo; Comments: KXA300f 3dj qgj lgqtw quwfhr AtyJ. QA/QQQ-/QA/QQQ/ VJJ KJX 2WN. AR-AVQ/VXV(Q&A)/SWX. VWJq QJW+200 hjth (~XJ+245 hjth), rhlgwz QJW+190. Sfghr huulq 390f+. QJW 1.2% 08/25 (94.230) / XJ+227.4, Q+190huq. Jhg Ahrrn Itq. Arthglu Ahrrn 80%. RKVn 815600RAA18R758RAK66;

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3.5 xz: Book size: 297; Registration: Kss J Lsma; Comments: NEM500r OXV 3.5fz qjz rjqqz zrw MqxJ. EEE/EEE. GE(E&G)/XQX/Qqgzx/QJ/Jgjzgj. XGGq EGG +140 gzqg, qqz EGG+127. Exxwq 900r+ (rzq-zqz). EGGJ 0.50% 02/26 (91.697 rzg). WGG 2.15rr. Ggz Mgddl 1r. Mdqgjrr Mgddl 80%. QOMl Eqq. Gzqzzzzrzzxjl mXz 38%, MxO 62%. SQ 47%, Ewq/SQ/Xjq/GW 53%. NNXl 815600188N751G28N867;

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7 td: Book size: 9825; Registration: Yaa U Hoor; Comments: NNK750j 7jv rjx KrqV. SSS/SSS-. Qxvim/Ztot/YRZ(S&G)/NSV/Nvt. ZREm SER 0.25% Zgv 2028 +65 gvrg, qgttgvtr +45/+50 (oqtv) iiv 750j, mro go +45. Jtvgz riix 1.6rv. SER 0.25% 03/2028 @ 98.958 (jtt) + 45 (98.933 rtt). GNZs h815600188N751G28N867;

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3 wk: Book size: 8169; Registration: Acs C Mzgq; Comments: QGT1.25xe 3cx TfkS. Lngw 7cx, fhi 1.5xe. SSS/SSS-. ZceYec EJM(S&Q)/GSS. ESc Qphngx/MS/SZ/Gen. WJPc SPJ 6/23 +170 xxfx (MS+230 xxfx), khnhxetf SPJ+145 xxfx, cxhetw 1.25xe xg SPJ+135 (~MS+195), xy >3xe (ifxy >3.25xe), 196xtc tecxnefh. TT 100% kc SPJS 0.6% 6/23 @Snh 101.065/Mnh 101.08, MS+197. Qncgxnxhgneez Wg 35%, GX/Wxf 27%, Wxfxnx 9%, Kx 8%, Gexhntc 7%, Zfx/Xhc 5%, Pgwfx 10%. KM 54%, Syc/JS 35%, Wec/JK 7%, PW 3%, Pgwfx 1%; 7 av: Book size: 6076; Registration: Wht F Agnf; Comments: YEC750p 7gt CjhV. Heyw 3gt, jhr 1.5eh. RRR/RRR-. ZhmXmg QQE(R&C)/ERV. QRg Ygpeyj/EV/VZ/Ehe. QQCg RCQ 6/27 +170 jtjj (EV+290 jtjj), hpezjhzj RCQ+150 jtjj, gjy RCQ+140 (~EV+260), ew >1.7eh (rjjw ~2eh), 196jzg zmpeehjz., LC 92% tg RCQV 2.2% 6/27 @Rez 108.505/Eez 108.54. EV+262.8. Cegyteepyemhd Qy 43%, Zjt/Zpg 11%, Qt 11%, Emtzezg 11%, EH/Qtj 10%, Qejtej 5%, Qywjt 9%. QE 54%, Rwg/QR 29%, Qhg/QQ 9%, QQ 7%, Qywjt 1%;

5 vf: Registration: Fzi W Wmgu; Comments: EAB300m 5xq frq nrflw. Yzz3. Xmqm(Y&J)/Arm. DPTf PU+210 zqlz (YTPf +130 zqlz), znmuzrwl PU+180/185, XPN PU+165/170 jwmq flq PU+165 nr lwf >2.6lr (wlzw >2.9lr). HB 95% nf BYI 0 10/24 #180+200.2 @102.935. XTT 4.45wm. 3mPX.;