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          Generali to start a share buyback for a total maximum amount of € 500 million

          Trieste - Assicurazioni Generali S.p.A. will start a share buyback, implementing the resolution of the Shareholders' Meeting of 29 April 2022, that has authorised the purchase and disposal, for the purposes of cancellation and in one or more transactions, of treasury shares for a total disbursement of up to € 500,000,000 and for a maximum number of shares representing 3% of the Company’s share capital, until 29 October 2023. The buyback programme is part of the Lifetime Partner 24: Driving Growth strategic plan in relation to capital management policy and its aim is to make use of excess liquid funds accumulated during the three years 2019- 21 and not used for the purpose of capital redeployment as well as to provide shareholders with remuneration in addition to the distribution of dividends. The purchase and disposal of treasury shares is instrumental to the cancellation, which may be in multiple stages, of said shares without reducing the share capital.

          For these purposes, Generali has signed a buyback agreement with UBS Europe SE. The intermediary in charge will proceed with the purchase of the shares in full independence, in compliance with the parameters and criteria set out in the agreement, as well as the applicable regulations and the shareholders' resolution. The buyback of Assicurazioni Generali S.p.A. shares will start on 3 August 2022 and end by the end of December 2022: the minimum purchase price of the shares may not be lower than the implicit par value of the share, currently equal to Euro 1, while the maximum purchase price may not exceed 5% of the reference price recorded by the share during the stock exchange session on the day prior to the completion of each individual purchase transaction.

          The purchase transactions will be carried out exclusively on the Euronext Milan market, pursuant to article 144-bis, paragraph 1, letter b) and c) of the Consob Regulation adopted by resolution no. 11971 of 14 May 1999, as subsequently amended and supplemented (“Consob Issuers' Regulations”) and in force of any applicable laws and regulations, thus in accordance with the operating procedures established by the regulations governing the market organisation and management, so as to ensure that all shareholders are treated equally and to fulfil with all public information requirements.

          Generali will disclose to the market, in accordance with the provisions in force, the details of any purchase transactions carried out, until the end of the buyback programme.

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