Banca Ifis

Investor Presentation • Jan 19, 2016

SOLIDITY: MANAGEMENT FOCUS

Solidità patrimoniale e richieste Bce
Il Cet1 ratio. Dati in % Target Bce 2016	Dati al 30 settembre 2015 transitorio
BANCA CARIGE				11,25 12,2
BANCO POPOLARE		9.55		12,7
INTESA SANPAOLO		9.5			13,4
MEDIOBANCA		8.75		12,45
MPS			$10,75*12,0$
POP EMILIA		9,25		12,04
POP MILANO		9.0		11.44
POP SONDRIO		9.25	10.25
POP VICENZA	$6,8**$		10.25
UBI BANCA		9,25			13,0
UNICREDIT		$9,5***$	10.53
VENETO BANCA	$7.12***$		10.25

Banca IFIS	FY 14	FY15
CET 1	13.9%	14.7%
Total Own Fund Capital ratio	14,2%	15.4%
Tier 1 Ratio	14.0%	15.0%
BCE request
CET 1		7%
Total Own Fund Capital ratio		10.5%

HIGHLIGHTS

	FY 14	FY15	Change		FY14	FY15
Net Banking Income (Eu mn)	284	408	+44%	Net Loans to Customers (Eu bn)	2.8	3.4
Net Result from Financial Operations (Eu mn)	250	374	+50%	AFS+HTM (Eu bn)	5.1	3.2
Net Profit (Eu mn)	96	162	+69%	Total Funds and Deposits (Eu bn)	7.7	6.1
Total Assets (Eu bn)	8.3	7.0	-16%	NPL ratio (Trade Receivables)	1.3%	1.1%
Net Equity (Eu bn)	438	573	+31%	NPL Coverage ratio (Trade Receivables)	86.4%	87.9%
CET 1	13.9%	14.7%		RWA (Eu bn)	2.8	3.3

HIGH QUALITY BALANCE SHEET

Over the last years Banca IFIS improved significantly its Capital Ratios and credit quality

Deteriorated assets in Trade Receivables segment

Fiscal year end Euro	FY14	FY15
Net NP Exposures Mn	113	129
NPE/Equity	25,7%	22.4%
Net NPL	33	31
NPL/Loans	1.3%	1.1%
Net Unlikely to Pay	44	40
Net NP Past Due Loans	36	58

NPL COVERAGE ratio 87,9%

4

A STRONG AND DIVERSIFIED BUSINESS MODEL

B2B Trade finance with focus on SMEs & micro companies and Public Administration 4487 customers as of Dec 31,2015

DRL

Investment in retail Unsecured Distressed Loans portfolios Over 850.000 debtors/ individuals

Tax receivables

Purchase of tax receivables arising from insolvency proceedings

Net Banking income: 408 Eu mn +44%

NET BANKING INCOME (EU MN) BREAKDOWN BY SEGMENT

FY2015 DRL results affected by nonrecurring operations for a total of 6.5 Mn

GROUP'S HISTORICAL CORE BUSINESS: TRADE RECEIVABLES FINANCING

Results	FY 14	FY 15	% Change
Turnover Bn Eu	8.3	10.1	+21.8%
NBI Mn Eu	156	159	+2.0%
NBI/ Average Loans	6.3%	5.6%
Provisions Mn Eu	33	21	-35.6%
Net Result from Financial Operations Mn Eu	122	137	+12.1%
Loans Bn Eu	2.4	2.8	+16.0%
NPL/Loans	1.3%	1.1%
RWA Bn Eu	1.8	1.8	-

A LEADING POSITION IN THE RETAIL UNSECURED DISTRESSED LOANS SEGMENT IN ITALY

Target	Invest in Italian retail unsecured distressed loans
Customer base	Over 850.000 debtors. Over 1.0 mln positions
Competitive advantage	Sizeable owned portfolio integrated within a unique platform that drives our projected growing collection rate

DRL	FY 14	FY 15	% Change
NBI Mn Eu	33	56	+69%
Net Result from Financial Operations Mn Eu	31	53	+67%
Net Book Value Mn Eu	135	354	+162%
GBV Bn Eu	5.6	8.2	+45%
GBV purchased Bn Eu	2.0	4.1	+102%
GBV disposed Mn Eu	219	1377	+529%
RWA Mn Eu	135	354	+162%

FY2015 DRL

Non-recurring operations in the segment:

• Sale of 3 NPL portfolios 1,4 GBV
• New NPL evaluation model

Results affected at

• NBI line for total +6.5 Mn Eu
• Operative costs for -4 Mn Eu

MARKET LEADER IN ITALY IN THE TAX RECEIVABLES SEGMENT

Target	Purchase of tax receivables arising mainly from insolvency proceedings
Customer base	Bankruptcy courts in all domestic market
Competitive advantage	Integrated collection platform that drives our projected growing collection rate

Tax receivables	FY 14	FY 15	% Change
NBI Mn Eu	11	20	+85%
Net Result from Financial Operations Mn Eu	11	20	+77%
NBV Mn Eu	119	131	+9%
GBV Mn Eu	168	191	+13%
NBV/GBV	71,2%	68.6%
RWA	38	42	+10.7%

NET PROFIT BREAKDOWN (EU MN)

BALANCE SHEET: A DIVERSIFIED FUNDING MODEL

Strong balance sheet Success retail funding for the new launch 3-4-5 yrs Rendimax formulas

Funding Breakdown Eu Mn	FY14	FY15	% change	Fiscal year end Eu	FY14	FY15
				Loans to banks	275	95
Retail funding rendimax&				Mn
contomax	3314 3113 -6.1%		Loans to customers Bn	2.8	3.4
Wholesale funding Due to banks	2259	663	-70.7%	Net securities Bn	5.1	3.2
				Due to banks Bn	2.3	0.7
Wholesale funding Repos	2083	2279	+9.4%	Due to customers Bn	5.5	5.5
Other payables	86	95	+10.2%	Net equity Mn	438	573
				Total assets/liabilities Bn	8.3	7.0

BALANCE SHEET: A FOCUS ON THE DEBT SECURITIES PORTFOLIO

Eu Mn Nominal Value Maturity	Total amount	% on total amount
From January to December 2016	759	23.6%
From January to December 2017	270	8.4%
From January to December 2018	1322	41.0%
From January to December 2019	675	20.9%
From January to December 2020	196	6.1%
Total	3222	100.0%

DATA PER SHARE

Fiscal Year end	FY14	FY15
Total shares Mn	54	54
EPS stated	1.81	3.05
BVPS	8.27	10.81
Dividend per share	0.66	0.76 hypothesis
Dividend payout ratio %	36.40	24.90

Share price as of 2015,31/12 28.83 Eu

This Presentation may contain written and oral "forward-looking statements", which includes all statements that do not relate solely to historical or current facts and which are therefore inherently uncertain. All forward-looking statements rely on a number of assumptions, expectations, projections and provisional data concerning future events and are subject to a number of uncertainties and other factors, many of which are outside the control of Banca IFIS. (the "Company"). There are a variety of factors that may cause actual results and performance to be materially different from the explicit or implicit contents of any forward-looking statements and thus, such forward-looking statements are not a reliable indicator of future performance. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable law. The information and opinions contained in this Presentation are provided as at the date hereof and are subject to change without notice. Neither this Presentation nor any part of it nor the fact of its distribution may form the basis of, or be relied on or in connection with, any contract or investment decision.

The information, statements and opinions contained in this Presentation are for information purposes only and do not constitute a public offer under any applicable legislation or an offer to sell or solicitation of an offer to purchase or subscribe for securities or financial instruments or any advice or recommendation with respect to such securities or other financial instruments. None of the securities referred to herein have been, or will be, registered under the U.S. Securities Act of 1933, as amended, or the securities laws of any state or other jurisdiction of the United States or in Australia, Canada or Japan or any other jurisdiction where such an offer or solicitation would be unlawful (the "Other Countries"), and there will be no public offer of any such securities in the United States. This Presentation does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States or the Other Countries. Pursuant the consolidated law on financial intermediation of 24 February 1998 (article 154-bis, paragraph 2) Emanuel Nalli, in his capacity as manager responsible for the preparation of the Company's financial reports declares that the accounting information contained in this Presentation reflects the Banca IFIS's documented results, financial accounts and accounting records.

Neither the Company nor any member of Banca IFIS nor any of its or their respective representatives, directors or employees accept any liability whatsoever in connection with this Presentation or any of its contents or in relation to any loss arising from its use or from any reliance placed upon it.