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ORDINARY SHAREHOLDERS' MEETING 27 APRIL 2024

Banca Popolare di Sondrio S.p.A. Società per azioni (joint-stock company)

Head Office and General Management: ITALY - 23100 Sondrio (SO) - Piazza Garibaldi 16 Tel. 0342 528.111 - Fax 0342 528.204

Websites: https://www.popso.it - https://istituzionale.popso.it

E-mail info@popso.it - Certified e-mail (PEC): postacertificata@pec.popso.it Sondrio Companies Register No. 00053810149 - Official List of Banks No. 842 Monetary intermediation by monetary institutions other than central banks Parent Company of the Banca Popolare di Sondrio Banking Group,

Official List of Banking Groups No. 5696.0 - Member of the Interbank Deposits Protection Fund Tax code and VAT number: 00053810149

Share capital: 1,360,157,331 euro - Reserves: 1,564,088,615 euro (Figures approved at the Shareholders' meeting of 27 April 2024)

Rating:

  • Rating issued to Banca Popolare di Sondrio by Fitch Ratings on 6 July 2023:
    • Long-termIssuer Default Rating (IDR): BB+
    • Short-termIssuer Default Rating (IDR): B
    • Viability Rating: bb+
    • Government Support Rating: n.a.
    • Long-termDeposit Rating: BBB-
    • Short-termDeposit Rating: F3
    • Senior Preferred Debt: BB+
    • Tier 2 Subordinated Debt: BB-
    • Outlook: Stable
  • Rating issued to Banca Popolare di Sondrio by DBRS Morningstar on 13 November 2023: - Long-Term Issuer Rating: BBB (low)
    - Short-Term Issuer Rating: R-2 (middle)
    - Intrinsic Assessment: BBB (low)
    - Support Assessment: SA3
    - Long-Term Deposit Rating: BBB
    - Short-Term Deposit Rating: R-2 (high)
    - Long-term Senior Debt: BBB (low)
    - Short-term Debt: R-2 (middle)
    - Subordinated Debt: BB
    - Trend: Positive
  • Rating issued to Banca Popolare di Sondrio by Scope Ratings on 14 March 2023: - Issuer rating: BBB
    - Outlook: Stable
  • Rating issued to Banca Popolare di Sondrio by S&P Global Ratings on 26 February 2024: - Stand-alone credit profile: BBB-
    - Long-term Issuer Credit Rating: BBB-
    - Short-Term Issuer Credit Rating: A-3
    - Long-term Resolution Counterparty Rating: BBB
    - Short-term Resolution Counterparty Rating: A-2
    - Outlook: Stable

CONTENTS

Banca Popolare di Sondrio Banking Group

8

Corporate bodies

13

Calling of the meeting

14

Directors' Report on Operations

26

Report of the Board of Statutory Auditors to the Shareholders' Meeting

137

Financial Statements of the Company

188

Balance sheet

189

Income statement

191

Statement of other comprehensive income

192

Statement of changes in shareholders' equity

193

Cash flow statement

195

Notes

197

PART A - Accounting policies

197

PART B - Information on the balance sheet

242

PART C - Information on the income statement

281

PART D - Comprehensive Income

296

PART E - Information on risks and related hedging policies

297

PART F - Information on Equity

411

PART G - Business Combinations involving companies or business units

414

PART H - Transactions with related parties

415

PART I - Equity-settledshare-based payment agreements

417

PART L - Segment information

418

PART M - Information on Leasing

419

Annexes

421

Financial statements of subsidiaries

425

Certification of the Managing Director and the Manager responsible for preparing the company's

accounting documents

440

Independent Auditor's report on the company financial statements

441

6

Group Report on Operations

449

Consolidated financial statements of the Banca Popolare di Sondrio Banking Group

475

Consolidated balance sheet

476

Consolidated income statement

478

Consolidated statement of other comprehensive income

479

Consolidated statement of changes in equity

480

Consolidated cash flow statement

482

Consolidated Notes

484

PART A - Accounting policies

484

PART B - Information on the consolidated balance sheet

534

PART C - Information on the consolidated income statement

576

PART D - Consolidated statement of other comprehensive income

592

PART E - Information on risks and related hedging policies

593

PART F - Information on consolidated equity

668

PART G - Business Combinations involving Businesses or Business Units

671

PART H - Related-party transactions

672

PART I - Equity-settledshare-based payment agreements

674

PART L - Segment information

676

PART M - Information on Leasing

685

Certification of the Managing Director and the Manager responsible for preparing the Company's

accounting documents

688

Report of the Independent Auditors on the consolidated financial statements

689

Resolutions of the shareholders' meeting………………………………………………………………………..698

The progress of Banca Popolare di Sondrio in the main items of the financial statements

705

7

Attachments

Disclaimer

Banca Popolare di Sondrio Scpa published this content on 22 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 May 2024 15:58:03 UTC.