Sempione SIM SpA

In September 2009, Banca del Sempione SA acquired a majority stake in a Milan-based brokerage company (SIM). Pursuant to a shareholders’ meeting resolution, in April 2011 the company changed name to Sempione SIM SpA with a view to emphasising its identity as a Banca del Sempione Group company.

Sempione SIM is active in asset management, investment advisory, and securities brokerage in general. It is geared towards clients who demand proven asset management skill based on the principles of reliability and common sense, typical of all Banca del Sempione Group companies. In 2011, Banca del Sempione SA consolidated its presence through a capital increase that expanded the bank’s equity stake to 62.2%. We also made major investments such as the complete upgrade of the information system which will allow Sempione SIM to pursue growth and make a significant contribution to the group. Sempione SIM also aims to be a major independent advisor: based on the Mifid-compliant “Feeonly4you” advisory platform, it can support clients who want to place their assets with a plurality of asset managers, professionally and independently guiding them in their investment decisions. Sempione SIM has also proven itself as a counterparty in the distribution of BASE Investment Luxembourg SICAV products in Italy, approved for sale by Italian authorities.

Customisation

Sempione SIM SpA provides management of assets entrusted to it customised to each clients’ changing needs and preferences, together with their expectations and appropriate margin of risk agreed to beforehand. Customisation means continuously interacting with the client, through direct contact, pursuing the development of investment decisions so that that they are consistent with expectations.

Professionalism

Sempione SIM SpAprovides its clients with products and services managed by industry professionals who constantly seek opportunities on international markets and highly diversified investments. Without prejudice to these general principles, in light of financial market difficulties, the company attaches significant importance to currency trading which also is a distinct business in the Italian financial industry.

Research

Management, advisory and order taking are appropriately aided by sources of recognised skill at the national and international level and by coordinated in-house analysis that independently evaluates management decisions, favouring dynamic, innovative, and transparent trading.

Safety

Through a series of agreements with top banks, Sempione SIM SpAguarantees its clients clear separation between client assets deposited in trading accounts and assets under management by the SIM by virtue of mandates received.

Sempione SIM Società di Intermediazione Mobiliare SpA

Legal, operating, and administrative offices Via M. Gonzaga, 2 | 20123 Milan, Italy Tel.+39 02 303 03 51 Fax+39 02 303 035 122/124

Lecco Branch Piazza Lega Lombarda, 3 | 4th floor, staircase A I –23900 Lecco Tel.+39 0341 36 97 06 Fax.+39 0341 37 06 30

www.sempionesim.it

Board of Directors

Benedetto Lorito chairman (until 27.03.2012)

Günter Jehring vice chairman

Pietro Scibona managing director

Auditor Deloitte & Touche SpA, Milan Andrea Bonetti director Giampio Bracchi director Angelo Carbone director Stefano Rogna director