FSI: accelerated bookbuilding of 1.913% of Assicurazioni Generali Spa share capital completed. Terminated activities on Generali shares

Press release

FSI: accelerated bookbuilding of 1.913% of Assicurazioni Generali Spa share capital completed. Terminated activities on Generali shares

Not for publication, distribution, directly or indirectly, in the United States, Canada, Australia, Japan or in any other jurisdiction where such an announcement would be unlawful.

Not for publication, distribution, directly or indirectly, in the United States, Canada, Australia, Japan or in any other jurisdiction where such an announcement would be unlawful.

Milan, July 8, 2014 – Following the press release published on July 7, 2014, Fondo Strategico Italiano Spa (FSI) and Cassa depositi e prestiti Spa (CDP) announce that FSI has completed the aggregate sale of no. 29,777,535 ordinary shares of Assicurazioni Generali S.p.A., equal to 1.913% of its share capital.

Merrill Lynch International acted as sole bookrunner.

The offering, carried out through an accelerated bookbuilding addressed to Italian and foreign institutional investors, was priced at Euro 15.70 per share, resulting in aggregate proceeds of EUR 467.5 million.

With this offering, FSI has completed the activities related to its interest in Assicurazioni Generali. The aggregate return of the investment is in excess of 30%, or EUR 276.6 million, of which EUR 45.4 million from dividends and EUR 231.2 from capital gains, which will be attributed to FSI shareholders (CDP, Fintecna and Banca d’Italia) on the basis of the agreement dated December 19, 2012.

DISCLAIMER: The information contained in this announcement is for background purposes only and does not purport to be full or complete. No reliance may be placed for any purpose on the information contained in this announcement or its accuracy or completeness. The information in this announcement is subject to change. It may be unlawful to distribute this announcement in certain jurisdictions. These written materials are not for distribution in the United States, Canada, Australia or Japan or in any other jurisdiction where to do so would be unlawful. The information contained herein does not constitute an offer of securities for sale in the United States, Canada, Australia or Japan. This announcement does not constitute or form part of an offer to sell or the solicitation of an offer to buy the securities discussed herein. The securities mentioned herein have not been, and will not be, registered under the US Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States absent registration or an exemption from the registration requirements of the Securities Act. There will be no public offer of the securities mentioned herein in the United States. Merrill Lynch International is acting solely for the Seller and no one else and will not be responsible for providing the protections afforded to customers of Merrill Lynch International nor for providing advice in relation to the transaction.

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