Guidelines on the maximum number of offices that Directors and the head of BancoPosta function may hold

In accordance to the recommendations of the Corporate Governance Code for listed companies, on September 10, 2015, the Board of Directors adopted specific guidelines regarding the maximum number of offices that its members may hold within the management and control bodies of other companies listed on regulated markets (including foreign markets), of financial, banking, insurance companies or, in any case, large companies.

The guidelines were substantially modified following the publication, in 2020, of the new Corporate Governance Code and the Ministerial Decree of 23 November 2020, n. 169, "Regolamento in materia di requisiti e criteri di idoneità allo svolgimento dell’incarico degli esponenti aziendali delle banche, degli intermediari finanziari, dei confidi, degli istituti di moneta elettronica, degli istituti di pagamento e dei sistemi di garanzia dei depositanti" which applies to Poste Italiane by virtue of the bancoposta activities.

Art. 17 of the Decree 169/2020 imposes a specific limit on the accumulation of offices in other firms for the representatives of banks of greater size or operational complexity, including the members of the Board of Directors and the head of BancoPosta (as well as the Statutory Auditors) of Poste Italiane. These limitations have been included in the Guidelines adopted by the Company on the maximum number of offices that Members of the Board can hold.