Banca Monte dei Paschi di Siena S p A : OBG 1° Programma Obbligazioni Bancarie Garantite 2023Payment Report - 29 September 2023

BANCA MONTE DEI PASCHI DI SIENA S.P.A.

Euro 20.000.000.000,00 Covered Bond Programme

Thirteenth Series Issue Date: 20 February 2014	Eighteenth Series Issue Date: 26 November 2015
Euro 500.000.000	Euro 1.000.000.000
First Series RCB Issue Date: 13 May 2011	Twenty-Sixth Series Issue Date: 29 January 2019
Euro 75.000.000	Euro 1.000.000.000
Second Series RCB Issue Date: 13 May 2011	Twenty-Seventh Series Issue Date: 08 October 2019
Euro 75.000.000	Euro 1.000.000.000
Third Series RCB Issue Date: 13 May 2011	Twenty-Nineth Series Issue Date: 04/02/2022
Euro 50.000.000	Euro 750.000.000
Sixteenth Series Issue Date: 17 July 2014	Thirtieth Series Issue Date: 05/07/2022
Euro 1.500.000.000	Euro 750.000.000
Twenty-Eighth Series Issue Date: 10/06/2021
Euro 1.000.000.000

Unconditionally and irrevocably guaranteed as to payments of interest and principal by

MPS Covered Bond S.r.l.

Principal Seller, Principal Servicer and Issuer

Banca Monte dei Paschi di Siena S.p.A.

Payments Report

Collection PeriodGuarantor Payment Date

from:

01/06/2023	to:	31/08/2023
29/09/2023

In the context of a group reorganisation, with effective date from 28th October 2020, Securitisation Services S.p.A. has been merged by way of incorporation into Banca Finanziaria Internazionale S.p.A. (namely Banca Finint S.p.A)

This Payments Report is prepared by Banca Finint S.p.A. as Computation Agent in accordance with definitions and criteria described in the Transaction Documents. Certain information included in this report has been provided by the Parties. Please be advised that Banca Finint S.p.A. will have no liability for the completeness or accuracy of such information. Furthermore, be aware that some formula which lead to the relevant outcome could be the result of any assumptions and an appropriate understanding of the whole transaction and the Computation Agent shall not be liable for any liability suffered or incurred by any other Party or by any Other Issuer Creditors as a result of such, being understood that any specific request with regard to clarification or material error shall be served not later than 30 days after the delivery of this Report.

Terms and expressions used in this Payments Report have the respective meanings given to them in the Transaction Documents.

This Payment Report is based on the following information:

• - Servicer's Report provided by the Servicer;

• - Cash Manager Report provided by the Cash Manager;

• - Italian Account Bank Report provided by the Italian Account Bank;

• - English Account Bank Report provided by the English Account Bank;

• - Expenses, fees and costs provided by the Guarantor Corporate Servicer;

• - Any other information according to the Transaction Documents.

Banca Finint S.p.A. shall be entitled to, and may, rely upon the information and reports received by it and will not be required to verify the accuracy of such notice, reports or information received by it. Neither Banca Finint S.p.A. or their respective directors, managers, officers or employees shall have any responsibility or liability as to their fairness, accuracy, completeness or reliability or for any loss or damage howsoever arising from or otherwise in connection with the use of this document.

Calculations contained in this Payments Report are made in accordance with the criteria described in the Cash Management and Agency Agreement.

This document is provided for information purposes only and does not constitute or form part of, nor may it be construed so as to constitute or form part of, an offer, or the solicitation of any offer, to buy, sell or subscribe for any securities mentioned herein, nor it is intended to provide an evaluation of the risk related to an investment in such securities or for use by any person in making investment decisions. By accepting this document, you agree to be bound by the foregoing restrictions.

If this document has been sent to you in electronic form, you are reminded that documents transmitted via this medium may be altered or changed during the process of electronic transmission and consequently none of Banca Finint S.p.A., its subsidiaries or affiliates, directors, officers or employees thereof, accepts any liability or responsibility whatsoever in respect of any difference between the documents distributed to you in electronic format and the hard copy version available to you on request from Banca Finint S.p.A..

Collection Period from 01/06/2023 to 31/08/2023

Guarantor Payment Date 29/09/2023

1. Guarantor Available Funds

4.1 Principal Available Funds

Sum [(i):(viii)]

(i) Principal amounts collected by the Servicer in respect of the Cover Pool and credited to the Main Programme Account*

• (ii) Other principal recoveries received by the Principal Servicer (and any Additional Seller, if any) and credited to the Main Programme Account

• (iii) Principal amounts received by the Guarantor from the Seller

• (iv) Proceeds of any disposal of Assets and any disinvestment of Assets or Eligible Investments

• (v) Amounts granted by the Seller under the Subordinated Loan Agreement and not used to fund the payment of the Purchase Price for any Eligible Assets and/or Top-Up Asset

• (vi) Principal (if any) received under any Swap Agreements other than any Swap Collateral Excluded Amounts

• (vii) Amounts paid out of item (ix) of the Pre-Issuer Default Interest Priority of Payments

• (viii) Principal amounts standing to the credit of the Programme Accounts*

  *net of the amounts related to principal not due to the Guarantor and repaid to the Servicer

4.2 Interest Available Funds

Sum [(i):(xii)]

(i) Interest amounts collected by the Servicer in respect of the Cover Pool and credited into the Main Programme Account*

• (ii) Other interest recoveries received by the Servicer and credited to the Main Programme Account

• (iii) Interest accrued and paid on the Programme Accounts

• (iv) amounts standing to the credit of the Reserve Account in excess of the Required Reserve Amount and following the service of an Issuer Default Notice, on the Guarantor, any amounts standing to the credit of the Reserve Account

• (v) Interest amounts standing to the credit of the Programme Accounts

• (vi) Interest amounts received from the Eligible Investments

• (vii) Subject to item (ix) below, any amounts received under the Asset Swap Agreement and the Covered Bond Swap Agreement *

• (viii) subject to item (ix) below, any amounts received under the Covered Bond Swap Agreements other than any Swap Collateral Excluded Amounts

• (ix) Swap termination payments received from a Swap Provider under any Swap Agreement

• (x) Interest amounts received from the Principal Seller (or any Additional Seller, if any) by the Guarantor pursuant to the Master Assets Purchase Agreement

• (xi) Amounts paid as Interest Shortfall Amount out of item (i) of the Pre-Issuer Default Principal Priority of Payments

  484.139.837,70

  - -

  - - 132.781.315,66

  133.956.878,57

  - 6.459.954,51

  - -

  - -

• (xii) Any other amounts received by the Guarantor from any party to the Programme Documents

*net of the amounts related to interest not due to the Guarantor and repaid to the Servicer

Guarantor Available Funds **

** Net of any Interest Shortfall Amount out of item (i) of the Pre-Issuer Default Principal Priority of Payments

(4.1) + (4.2)

618.096.716,27

2.1 Interest Priority of Payments

MPS Covered Bond
Collection Period from 01/06/2023 to 31/08/2023	Guarantor Payment Date 29/09/2023
Interest Available Funds	133.956.878,57
(i) (a) Expenses	1.381,08
(b) Retention Amount	20.367,84
(ii) Any amount due and payable to the Representative of the Bondholders	12.500,00
(iii) Fees, costs and expenses (pro rata and pari passu ) to the Servicers and the Agents	2.884.677,19
(iv) pro rata and pari passu :
(a) any amounts due to the Asset Swap Provider	-
(b) any interest amounts due to the Covered Bond Swap Provider(s)	13.043.333,32
(v) Required Reserve Amount	10.269.002,64
(vi) Loan Interest due and payable on each Term Loan to the Subordinated Lender(s)	107.725.616,49
(vii) Upon the occurrence of a Servicer Termination Event, to credit all remaining Interest Available	-
Funds to the Main Programme Account
(viii) Any Excluded Swap Termination Amounts	-
(ix) Interest Shortfall Amount (if any) to be transferred to the Principal Available Funds	-
(x) Any other amount due and payable to pay to the Principal Seller and to the Additional Seller(s) (if	-
any) under the Programme Documents,
(xi) pro raptrao rata and pari passu :
(a) any Premium on the Programme Term Loans	-
(b) Excess Term Loan Amount, provided that no Segregation Event has occurred	-
Final balance	-
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- Prior to the delivery of a Guarantee Enforcement Notice -

MPS Covered Bond

Collection Period from 01/06/2023 to 31/08/2023

Guarantor Payment Date 29/09/2023

2.2 Principal Priority of Payments

- Prior to the delivery of a Guarantee Enforcement Notice -

Principal Available Funds

484.139.837,70

(i) Interest Shortfall Amount

(ii) New Portfolios and/or Top-Up Assets and/or other Eligible Assets (other than thosefunded through the proceeds of a Term Loan

- -

(iii) pro rata and pari passu :

• (a) principal amounts due and payable to the relevant Swap Providers

• (b) on each Guarantor Payment Date that falls on an Interest Payment Date, the principal amounts due and payable under the Term Loan, provided in any case no Segregation Event has occurred and is continuing and/or, where applicable, provided that no amounts shall be applied to make a payment in respect of a Term Loan if the principal amounts outstanding under the relevant Series or Tranche of Covered Bonds which have fallen Due for Payment on such relevant Guarantor Payment Date have not been repaid in full by the Issuer.

Final balance

484.139.837,70

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