Banco BPM SpA — Capital/Financing Update 2025

Nov 25, 2025

.1

Data/Ora Ricezione : 25 Novembre 2025 17:44:47

Oggetto : Moody's raises Banco BPM's main ratings

Testo del comunicato

Moody's raises Banco BPM's main ratings: • The Long-Term Issuer Rating and the Senior Unsecured Debt Rating upgraded to Baa1 from Baa2 • The Long-Term Deposit Rating rises to A3 from Baa1

PRESS RELEASE

Moody's raises Banco BPM's main ratings:

• The Long-Term Issuer Rating and the Senior Unsecured Debt Rating upgraded to Baa1 from Baa2
• The Long-Term Deposit Rating rises to A3 from Baa1

Recognition of the Group's solid fundamentals is confirmed: well-established franchise, asset quality, profitability, revenue diversification, sound capital level and ample liquidity

Second rating agency this year to upgrade Banco BPM's Issuer and Deposit ratings

Milan, 25 November, 2025 – Today, Moody's Ratings (Moody's) raised Banco BPM's main ratings by one notch, including:

• the Long-Term Issuer rating to Baa1 from Baa2
• the Senior Unsecured Debt rating to Baa1 from Baa2
• the Long-Term Deposit Rating to A3 from Baa1

All of these ratings have been assigned a Stable Outlook.

These improvements stem from the upgrade of Banco BPM's Baseline Credit Assessment (BCA) to baa2 from baa3, reflecting not only the recent upgrade of Italy's sovereign rating, but also the agency's positive assessment of the Group's fundamentals, including: its well-established established franchise in Italy, improved asset quality, good profitability and revenue diversification, a sound capital base, low refinancing risk, and substantial high-quality liquid assets.

Moody's is the second agency this year to recognize an improvement in Banco BPM's Issuer and Deposit ratings, bringing the Deposit rating to the "A" category.

For further information and other rating classes subject to upgrade, please refer to the press release published today by Moody's.

For information:

Media Relations e-mail: stampa@bancobpm.it

Investor Relations e-mail: investor.relations@bancobpm.it