Mediobanca (MB) AGM 2025 Presentation summary

Opening remarks and agenda

• The meeting agenda included Mediobanca's strategic evolution, Banca Generali's industrial and cultural fit, the proposed transaction, board process and rationale, timeline, and closing remarks.

Financial performance review

• Mediobanca reported FY25 revenues of €3.7bn (+3% YoY), net profit of €1.5bn, and a CET1 ratio of 15.1%.

• Dividend per share increased by 7% YoY to €1.15, with a 10-year total shareholder return of +395%.

• Wealth Management (WM) is set to become the main business, with WM revenues projected to double to €2bn and net profit to rise from €0.2bn to €0.8bn.

Board and executive committee updates

• The Board, led by CEO Alberto Nagel, has a strong track record in transformation and growth, with active oversight and alignment on strategic vision.

• The Board composition reflects strong institutional investor support, with 20% of seats from minority lists and a Lead Independent Director from the Assogestioni list.