Bff Bank

Capital/Financing Update • Feb 14, 2022

NOTICE OF EARLY REDEMPTION

TO THE HOLDERS OF

€100,000,000 Fixed Rate Reset Callable Subordinated Tier 2 Notes due 2027

(the "Notes")

issued by

BFF BANK S.p.A. (formerly Banca Farmafactoring S.p.A.)

(incorporated with limited liability under the laws of the Republic of Italy)

(the "Issuer")

ISIN: XS1572408380

The Issuer hereby gives notice to the holders of the Notes that, pursuant to Condition 6(d) (Redemption and purchase – Redemption at the option of the Issuer) of the terms and conditions of the Notes (the "Conditions"), it is exercising its option to redeem all of the outstanding Notes on 2 March 2022 (the "Optional Redemption Date (Call)").

The Notes will be redeemed at their principal amount plus accrued interest to the Optional Redemption Date (Call).

In accordance with Condition 6(h) (Redemption and purchase – Regulatory conditions for call, redemption or repurchases of Notes), the Issuer has obtained the permission of the Relevant Authority to redeem the Notes in accordance with Article 78 of the CRR prior to the delivery of this notice.

Following their redemption in accordance with this notice, the Notes will be cancelled and will be delisted in accordance with the terms of the regulated market operated by the Irish Stock Exchange plc trading as Euronext Dublin.

All capitalised words and expressions used and not defined herein shall have the meaning given to them in the Conditions.

This notice is irrevocable and is given to the Noteholders in accordance with Condition 15 (Notices).

This notice is for information purposes only and does not constitute an offer to subscribe for or buy the Notes or other securities of the Issuer in any jurisdiction.

This notice is given by BFF BANK S.P.A.

Date: 14 February 2022