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          Generali successfully concludes the placement of its third Green bond

          Trieste – Assicurazioni Generali S.p.A. (Generali) has placed today a new Euro denominated Tier 2 bond due in July 2032, (The Notes) issued in “Green” format in accordance with its Sustainability Bond Framework. This transaction confirms Generali’s commitment on sustainability matters: an amount corresponding to the net proceeds from the Notes will be used to finance/refinance “Eligible Green Projects”.

          The Notes attracted an order book of €1.05 billion from 116 highly diversified international institutional investors throughout the book-building process, including a significant representation of funds with Sustainable/SRI mandates.

          The terms of the Notes are as follows:

          Issuer: Assicurazioni Generali S.p.A.
          Issue Expected Rating: “BBB” by Fitch and “Baa2” by Moody’s
          Amount: € 500,000,000
          Launch date: 29 June 2022
          Settlement date: 6 July 2022
          Maturity date: 6 July 2032
          Coupon: 5.800% p.a. payable annually in arrear
          First coupon date: 6 July 2023
          Issue price: 100%
          New Notes ISIN: XS2468223107
          Spread to Mid Swap: +345.8bps

          Listing: Professional Segment of the Luxembourg Stock Exchange Regulated Market and on ExtraMOT market – Professional Segment (ExtraMOT PRO).

          The issuance attracted strong interest from international investors, which accounted for approximately 94% of allocated orders, underscoring the strong reputation that the Group enjoys on the international markets. About 33% of the bond has been allocated to French investors, 26% to UK and Irish investors, 17% to German and Austrian investors and approximately 12% to Italian and Spanish investors.

          Joint Lead Managers & Bookrunners: BofA Securities, Crédit Agricole CIB, Citi, Deutsche Bank, Goldman Sachs International, Mediobanca, Morgan Stanley.

          Global Coordinators: Citi, Deutsche Bank.

          Generali Group CFO, Cristiano Borean, commented: “The successful placement of our third green bond is evidence of our solid financial position and the confidence of investors in the 'Lifetime Partner 24: Driving Growth' strategic plan. The transaction will further extend the average life of our debt, consistent with our proactive approach to managing the bond maturity profile, and will allow Generali to finance green projects, in line with our commitment to sustainability. Furthermore, considering our debt profile, the transaction will lead to a further reduction in annual gross interest expenses.”

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