First meeting of the new Board of Directors

MARCO MORELLI CONFIRMED AS CHIEF EXECUTIVE OFFICER

BOARD COMMITTEES FORMED

Milan, 22 December 2017 - The first meeting of Banca Monte dei Paschi di Siena's new Board of Directors has been held under the chairpersonship of Stefania Bariatti. The Board of Directors resolved, among other things, to confirm Mr. Marco Morelli as Chief Executive Officer of the Bank.

The Board then proceeded to form the Board Committees and appoint their members:

-       Risk Committee: Maria Elena Cappello, Antonino Turicchi, Marco Giorgino, Stefania Petruccioli and Angelo Riccaboni.

-       Appointments Committee: Giuseppina Capaldo, Maria Elena Cappello, Antonino Turicchi, Salvatore Fernando Piazzolla and Giorgio Valerio.

-       Compensation Committee: Marco Giorgino, Fiorella Kostoris, Roberto Lancellotti, Nicola Maione and Michele Santoro.

-       Related-Party Transactions Committee: Fiorella Kostoris, Giuseppina Capaldo, Nicola Maione, Angelo Riccaboni and Michele Santoro.