The importance of climate change for the Montepaschi Group

2. The importance of climate change for the Montepaschi Group Alessandro Santoni – Head of Strategic Planning, Research and Investor Relations

3. BMPS’s role in the Carbon Disclosure Project Banca MPS is a partner and main sponsor in the initiative: why? • Itshares the conviction that countering climate change requires financial markets to encourage companies to implement sustainable energy policies; • Itsupports market transparencyalso in relation tointangible (non-financial) aspectsofits business; • CSR at the heart of it corporate values: environmental protection is part of Corporate Social Responsibility which we consider to be a driver of innovation and competitiveness for the benefit of all stakeholders. 3

4. Energy saving in Banca MPS’s operations • Though it does not carry out as many high-energy-consumption (energivorous) activities as a traditional industrial business, Banca MPS attaches utmost importance to managing its own environmental impact. • A careful environmental policy contributes to achieving the objective of an all-encompassing control of the operating cost structure, which is not of minor importance considering that energy accounts for approximately 3% of total administrative expenses. Banca MPS helps businesses understand and manage environmental risks proactively by offering them specific lending and banking services. There are interests that make all of us richer We contribute to society’s collective interest in a better quality of life offering eco-efficient environmental management systems and risk assessments. With our range of very advantageous innovative products , we help individuals, businesses and institutions seize all opportunities lying in energy production from renewable sources. Because an interest in the environment is in everybody’s interest. 4

5. Banca MPS’s major environmental protection initiatives SOLAR ENERGY ATMs • 12 May2009 ATM machines are housed in special enclosures made of environmentally friendly materials and are self-fuelled with sun energy captured by solar cells; these fully stand-alone kiosks can get connected to the bank's wireless network of services through wi-fi technology. • 10 Settembre 2009 GREEN BANK BRANCHES 1st in Italy These branches were built according to criteria designed to save energy and obtain a high degree of environmental wellbeing. The structural renovation made it possible to obtain environmentally sustainable buildings (30% more energy efficient than traditional ones) with a strong CO₂ reduction  (6,750 kg fewer emissions than a conventional system). 5

6. Banca MPS’s major environmental protection initiatives Replacement of servers in Siena’s data-processing centre with 352 new machines equipped with highly efficient INTEL processors. The solution has reduced energy consumption by more than 1.3 million kWh in one year, with cost savings totalling 261 thousand euro and CO2 emissions cut by 648 tonnes. • Electricity is purchased from renewable sources (almost 100% as at 31.12.07), with environmental and economic savings. This contributed strongly to reducing CO2 emissions. 6

7. Results achieved CO₂ emissions per capita (kg) Renewable electricity (%) * Performance impacted by the acquisition of BancaAntonveneta. Excellent recovery as of the following year. 7

8. Environment Labour Fair Business Supply chain All • A “green” approach in our revision of procurement processes • Specific policy adopted for on sustainability in the Supply Chain • 130 actions planned to support policy implementation (20 CSR KPIsintroduced). • CSR profile assessment of suppliers • Green products and services (2010: € 48,800,000) • Finalist in 3 international 2010 CSR supply chain awards (the only Italian company) CSR assessment of suppliers The assessment involved more than 200 suppliers (90% of invoiced amount). Average summary rating: 4.9 Average value of suppliers assessed: 4.6 Pointsofalert Requiresmonitoring In control Opportunity Goodopportunity 8

9. Our catalogue of “green” products SOLAR ENERGY AGREEMENTS: RIELLO, OBI, ENEL.SI, BEGHELLI/ MPS GROUP “PRESTISOLE” CONSUMER LOANS FOR SOLAR ENERGY SYSTEMS MLT unsecured loans with gradual amortisation of capital at fixed or floating rate Fixed medium-to-long term floating rate subsidies for consumers with gradual amortisation of capital WELCOME ENERGY Let’s finance solar energy ENERGY SAVINGS LOAN: For customers belonging to SMEs, Small Business, Institutional Clients, Purchasers of photovoltaic systems Financial assistance consisting in an MLT loan which may be preceded by credit in the form of a fixed term overdraft facility on a special internal account. Introduced in 2011 Mutuo Natura: Introduced in 2011 Tuttofare Natura: Loan for the financing of home restructuring and renovation with a view to improving the building’s energy efficiency Personal loan for the implementation of measures to upgrade energy efficiency of real estate and purchase hybrid, LPG, CNG or ‘Euro 5’ cars 9

10. Results achieved Loans to renewable energy projects (mln €) Energy products: Market shares (bps) * (*) As of June 2010, data are classified according to the ISTAT ATECO 2007 breakdown which supersedes previous classifications (Circular no. 140/1991). In some cases, this resulted in significant majors realignements. 10

11. Listingof MPS in sustainabilityratings Since 2003 Since 2004 New or confirmed admission to indexes of companies showing best sustainability performance Since 2008 Since 2008 11

12. Resultsofsustainabilityratings Carbon Disclosure Score N.R. Bmps Industryrange Score 2010 (%) (%) 12

13. What next • Carbon neutral BY END of 2013 (scope 2 GHG emissions) • Improve engagement of key suppliers insustainability • Meet cost saving targets through sustainability performance • Introduction of a new Vendor Rating System including CSR criteria (15% weight) • Assessment of compliance with the new standard for sustainable procurement (BS 8903) • New carbon investment products will be set up through strategic partnerships (SRI-carbon funds, index-linked policies, mps bonds, climate change benchmark index…)  • Expand the catalogue of lending products and other retail banking services 13

14. Thank you for your attention! 14

15. Contacts • Strategic Planning, Research & Investor Relations • Alessandro Santoni (Head) • Piazza Salimbeni, 3 • 53100 Siena • Tel:+39 0577-296477 • Investor Relations Team: • Elisabetta Pozzi (Head) • Simone Maggi • Federica Bramerini • Email: Investor.Relations@banca.mps.it 15

16. This document has been prepared by Gruppo Monte deiPaschi di Siena solely for information purposes and for use in presentations of the Group’s strategies and financials. The information contained herein has not been independently verified. No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained herein. Neither the company, nor its advisors or representatives shall have any liability whatsoever (in negligence nor otherwise) for any loss howsoever arising from any use of this document or its contents or otherwise arising in connection with this document. The forward-looking information contained herein has been prepared on the basis of a number of assumptions which may prove to be incorrect and, accordingly, actual results may vary. This document does not constitute an offer or invitation to purchase or subscribe for any shares and no part of it shall form the basis of or be relied upon in connection with any contract or commitment whatsover. The information herein may not be reproduced or published in whole or in part, for any purpose, or distributed to any other party. By accepting this document you agree to be bound by the foregoing limitations. Disclaimer 16