REPORTS ON CORPORATE GOVERNANCE

On the occasion of the meeting held on 8th March 2017, the Board of Directors of Banca Sistema S.p.A. approved the "Corporate Governance and Ownership Structures Report of Banca SISTEMA S.p.A. - 2016" which provides a comparison of the corporate governance system adopted by the Bank under the corporate governance rules and laws, and applicable to those companies whose shares are listed on a regulated market organized and managed by Borsa Italiana S.p.A., as well as under the provisions of the Code of Conduct prepared by the Corporate Governance Committee of Borsa Italiana.