Corporate Action Notice May 7, 2014 Banca Monte Dei Paschi Di Siena SpA – Reverse Stock Split & Ratio Change ADR CUSIP: 05951A105 ADR ISIN: US05951A1051 ADR Ticker Symbol: BMDPY Ratio (DRs: Underlying Shares): 1:5 Please be advised that Banca Monte Dei Paschi Di Siena SpA has announced a Reverse Stock Split on its ordinary shares in the local market of one (1) new ordinary share for every one-hundred (100) existing ordinary shares effective May 5, 2014. As a result, BNY Mellon will affect a reverse stock split and a ratio change on the Banca Monte Dei Paschi Di Siena SpA American Depositary Receipt (ADR) program. Effective May 16, 2014, ADR holders of Banca Monte Dei Paschi Di Siena SpA are required on a mandatory basis to surrender their ADR(s) for cancellation and exchange their “Old” ADRs (CUSIP 05951A105) for “new” ADRs (CUSIP 05951A204). ADR holders will receive 1 “New” American Depositary Shares (ADSs) (CUSIP 05951A204) for every 10 “Old” ADS (CUSIP 05951A105). Only whole ADSs will be distributed. ADR holders will be charged a cancellation fee of $0.045 per ADS surrendered. Note below the timetable for the reverse stock split: Effective date: Exchange Ratio: Old CUSIP: Old DR Ratio: New DR Ratio: New CUSIP: New ADR ISIN: May 16, 2014 1 new ADSs for every 10 old ADS 05951A105 1 DS : 5 Ordinary shares 2 DSs : 1 Ordinary share 05951A204 US05951A2042 BNY Mellon’s books were closed for all issuance and cancellation transactions on the old CUSIP 05951A105 as of May 5, 2014 and are expected to reopen on the new CUSIP 05951A204 on May 16, 2014. To learn more about Depositary Receipts and issuer programs, please contact our marketing desks: New York London Melissa Sobolewski/Ravi Davis Damon Rowan +1 212 815-2267 Vice President [email protected] +44 207 964 6527 [email protected] Hong Kong Herston Powers Vice President +852 2 840 9868 [email protected] BNY Mellon may pay a rebate to brokers in connection with the deposit of shares for the issuance of unsponsored DRs; broker may or may not disclose or pass back some or all of such rebate to the DR investor. BNY Mellon may also transact with affiliate brokers and dealers. This information and data is provided for general purposes only; it is not investment advice and should not be used for any investment decisions nor trading purposes. BNY Mellon does not warrant or guarantee the accuracy, timeliness or completeness of this announcement and shall have no liability for investment or other decisions based hereon, including market values loss on the sales or purchase of securities or other instruments or obligations. We do not undertake any obligation to update or amend this information or data. Nothing herein shall be deemed to constitute an offer to sell or a solicitation of an offer to buy securities.