Executive Investment Committee

Executive Investment Committee meetings are properly formed if attended by a majority of its members; resolutions are passed by absolute majority vote of those present and, in the case of a tie, the Chairman has the casting vote. Executive Investment Committee resolutions are severally executed by the Chairman or the Deputy Chairman & Chief Executive Officer, who are also authorized to delegate such power to special attorneys; its resolutions are then recorded in the minutes transcribed in the related book, signed by the Chairman and the Secretary; the Committee’s Secretary is the same as that of the Board of Directors, if appointed.

The current members of the Executive Investment Committee are: Marco Tronchetti Provera (Chairman); Carlo Alessandro Puri Negri; Claudio De Conto; Olivier de Poulpiquet de Brescanvel and Claudio Recchi, who have the following powers:
– to purchase real estate or real estate portfolios, non performing loans and equity interests provided the overall financial commitment for each transaction does not exceed 150,000,000 euro;
– to assume loans and financing from third parties; to grant loans to companies that are partly owned by the Company; to issue secured or unsecured guarantees to associated companies and/or third parties; all these powers have a limit of no more than 150,000,000 euro per transaction.