THE GOVERNANCE MODEL

Gruppo Banca Leonardo S.p.A. (“GBL”) adopts a traditional administration and control system, based on two bodies, namely the Board of Directors and the Board of Statutory Auditors. The choice for the traditional model made by GBL sees a central role played by the Board of Directors, accompanied by the transparency of management decisions, the effectiveness of the internal controls system and the management of potential conflicts of interest. The adoption of principles and procedures governing both the business and the support components, subject to continuing verification, updating and enhancement, allows a timely and efficacious response to the evolution of the regulatory framework and to the changes in the operational modes, while keeping in line with the industry’s best practices.

GBL’s governance structure articulates as follows: