Banca Ifis, the Shareholders’ Meeting approves unanimously the proposal to modify the ratio of variable to fixed components of the Chief Executive Officer’s Remuneration

SDIR: REGEM

Mestre (Venice), 21 December 2021 – The Ordinary Shareholders’ Meeting of Banca Ifis, which met today in single call, chaired by Ernesto Fürstenberg Fassio in accordance with the applicable provisions, and hence in the manner set out in Art. 106 of Italian Decree Law no. 18 of 17 March 2020, approved unanimously the proposal to modify the ratio of variable to fixed component of the Chief Executive Officer’s remuneration to 1,5:1.

The updating of the remuneration and incentive mechanism for the Bank’s top management, in accordance with the Supervisory Provisions contained in Circular no. 285/2013, is in line with Banca Ifis’s values, strategies and long-term corporate objectives, also with a view to retention, and is a priority in view of the forthcoming adoption and execution of the new 2022-2024 Business Plan.

The approved increase, which has no impact on the Bank’s capital strength and compliance with related capital requirements, will apply from FY 2022 and will be implemented as part of the Bank’s remuneration policy to be submitted to the Shareholders’ Meeting for approval of the financial statements as at and for the year ending 31 December 2021.

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