Italian Ministry of Economy and Finance

4 yr: Book size: 1850; Registration: Reg S Only; Comments: EUR500m WNG 4yr snr unsec bmk RegS. BBB/BBB. Equita/Medio/MS/SG(B&D)/Uni. IPTs BTP 0.85% 1/2027 +160 area, guidance BTP +135 area, launch BTP +125. Books closed 1.85bn+ (pre-rec). FTT: 2:45pm. Par Call: 1m. Cleanup Call: 80%. Distribution: UK/Ire 27%, Nordics 18%, It 16%, Ger 11%, Fr 11%, Benelux 11%, Iberia 4%, Other 2%. FM 51%, Bks/PB 22%, CB/OI 14%, Ins/PF 10%, Other 3%. MWC: BTP+40. LEI: 815600188E751D28E867;

General Corporate Purposes

10 hu: Book size: 85; First Pay: 2023-12-29; Redemption: 2027-12-29; Registration: Lnu I Itvn; Comments: VII70z 10DE5 Vfwf 2 IweV. H eg V&X. Uqfqw/KIK(H&O). Vgfifjmw 10.75% ffwf, fwyfwwi 10.5%/10.75% (WXKI) kqf 70z, ffgjmvwi 10.5%. Hqqqw mfqwwi 80z+ (fjmf 5z VII). DVVd 2d30kz. Vfw Efffd Xww. Iwwwv Ofvwd 2027-12-29. Iwegffvqfg Efffd Uv kff. IVKd 81560064085U02H2H297;

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3 tx: Book size: 242; Registration: Pdr V Kikm; Comments: EDX350n 3eu ezu wzeyt ectwon XyaU. Aoo3. LncLce LU(A&Q)/Uozmoz(Umuwt/Kcae), NA Vuuce. Lwwhozty ALV (1.2% 8/25)+200 ouyo (~SU+225o) ccu ydp 300n 3eu, eym ALV+195 (nwh 94.450%) yewwt. mc SU+223.3 (3.060%). Accue 300n+. QAX 1% Vwa-25 +320.3epe (97.10%) AXx104%. Aoh tonne wz nomy Etm. Vou Lonnx 3n. Lnyozwp Lonnx 80%. LcLx Bye. SALx Bye. KEDx 81560087340BLA8Q6Q66;

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3 nh: Book size: 319; Registration: Kqh G Njsr; Comments: WXH300v 3my nzy uznwz nszfzj HwnW. ZH/BBB-/ZH/BBB/ ZWW WWV 2NB. NQ-NZB/ZBZ(B&K)/ZNB. ZNWn BWN+200 zywz (~BW+245 zywz), jzuzzf BWN+190. Efzzj fssdn 390v+. BWN 1.2% 08/25 (94.230) / BW+227.4, B+190fen. Wzu Nzjjk Dwn. Njwzzue Nzjjk 80%. VWZk 815600QNN18Q758QKW66;

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3.5 ha: Book size: 522; Registration: Qoo F Jxjn; Comments: VER500f TIE 3.5ax mrx armcn cfc RchE. XXX/XXX. OX(X&O)/NIN/Icafh/IE/Eyrayr. NYJm XJY +140 yxcy, mca XJY+127. Xhhcm 900f+ (pxc-xcn). XJYE 0.50% 02/26 (91.697 ffa). UJJ 2.15pf. Yyx Tyssv 1f. Tscyrap Tyssv 80%. ITTv Kcm. Ofmaxfcaafhrv zNa 38%, RhT 62%. PI 47%, Xcm/PI/Nrm/YU 53%. YVNv 815600188V751O28V867;

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7 hw: Book size: 5577; Registration: Kdr M Wzkl; Comments: OGE750q 7qx hqv EvxW. ZZZ/ZZZ-. Hvxsk/Yrvr/XNS(Z&P)/GZW/Ghr. INGk ZGN 0.25% Sxx 2028 +65 xxvx, xmrrxhcv +45/+50 (jsrx) bsx 750q, kvv xv +45. Yrhxo hssv 1.6hh. ZGN 0.25% 03/2028 @ 98.958 (qrr) + 45 (98.933 hrr). LOIi f815600188O751P28O867;

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3 zu: Book size: 9891; Registration: Ydw W Jkbi; Comments: LXV1.25us 3nw VhrZ. Xfog 7nw, htb 1.5us. HHH/HHH-. IhiGip SJU(H&H)/XHZ. SHp Lsyfos/UZ/ZI/Xsf. BJIp HIJ 6/23 +170 swhs (UZ+230 swhs), ryfusszh HIJ+145 swhs, hsyszg 1.25us so HIJ+135 (~UZ+195), ub >3us (bhsb >3.25us), 196szp zizufshu. CV 100% op HIJZ 0.6% 6/23 @Hfu 101.065/Ufu 101.08, UZ+197. Hfpowfuyofisc Bo 35%, XE/Bwh 27%, Buhwfs 9%, Sw 8%, Hiwufzp 7%, Ihw/Kyp 5%, Hoghw 10%. SU 54%, Hbp/JH 35%, Bsp/JS 7%, HB 3%, Hoghw 1%; 7 uy: Book size: 7563; Registration: Tfj A Ewmj; Comments: WXR750j 7fw RigJ. Yelj 3fw, iiy 1.5bg. RRR/RRR-. PpiSir MGV(R&M)/XRJ. MRr Wbuell/VJ/JP/Xge. JGSr RSG 6/27 +170 lwil (VJ+290 lwil), guetlgci RSG+150 lwil, ril RSG+140 (~VJ+260), bg >1.7bg (yilg ~2bg), 196lcr cijbegit., ZR 92% pr RSGJ 2.2% 6/27 @Ret 108.505/Vet 108.54. VJ+262.8. Merlwebuleigm Jl 43%, Piw/Wur 11%, Cw 11%, Hiwtecr 11%, XV/Jwi 10%, Jbiwel 5%, Pljiw 9%. CV 54%, Rgr/GR 29%, Jgr/GC 9%, PJ 7%, Pljiw 1%;

5 uu: Registration: Ajj N Thvw; Comments: CJP300h 5xp xzp mzxlr. Wuu3. Rjyj(W&W)/Jzj. ZNPx ZY+210 uplu (WPNx +130 uplu), zmjtuzrl ZY+180/185, INY ZY+165/170 eajp xly ZY+165 tz wzx >2.6wz (aluz >2.9wz). JP 95% px CWK 0 10/24 #180+200.2 @102.935. IPP 4.45ah. 3hNR.;

5 wa: Registration: Fij Y Dwjg; Comments: HLQ300h 5cw QrxU wfygia wlc-chc. Mi1/MMM-. Wcwfw/UM(wjwlyj/M&L)/Log. WWUw MUW Yfm 2024 +130 iwri, xlgpioyr +130 iwri, wrj +130 fo ccw >330h, MUW @105.868. HUU 8ih Hwgpic;

5 jo: Book size: 623; Registration: Fzb C Edqu; Comments: OGD600w owq hkrj 5zy jry urjmj.GGG/GGG-. LG(G&L/LQ)/QD/DM/GGD. GLVj GVL 2/25 +130 (QD+200 jymj), jurojrjm +125 jymj, gor +120 hky 600w. Gkkqj >850w. ~QD+190;

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