Dividends

Year	DPS	Net Profit	Payout	Payout Ratio	Ex-date	Payable
2014	€ 0.27	€ 321 mn	€ 199 mn	62%
Acconto	€ 0.15				24/11/14	26/11/14
Saldo	€ 0.12				20/04/15	22/04/15
2013	€ 0.25	€ 337 mn	€ 184 mn	55%
Interim	€ 0.10				18/11/13	21/11/13
Final	€ 0.15				19/05/14	22/05/14
2012	€ 0.18	€ 351 mn	€ 132 mn	38%***
Interim	€ 0.10				19/11/12	22/11/12
Final	€ 0.08				20/05/13	23/05/13
2011	€ 0.11	€ 67 mn	€ 81 mn	120%**
Interim	€ 0.07				21/11/11	24/11/11
Final	€ 0.04				21/05/12	24/05/12
2010	€ 0.155	€ 224 mn*	€ 114 mn	51%
Interim	€ 0.085				22/11/10	25/11/10
Final	€ 0,07				23/05/11	26/05/11
2009	€ 0.15	€ 217 mn	€ 110 mn	51%
Interim	€ 0.085				23/11/09	26/11/09
Final	€ 0.065				24/05/10	27/05/10
2008	€ 0.15	€ 131 mn*	€ 110 mn	83%
Interim	€ 0.085				24/11/08	27/11/08
Final	€ 0.065				18/05/09	21/05/09
2007	€ 0.20	€ 212 mn	€ 146 mn	69%
Interim	€ 0.085				19/11/07	22/11/07
Final	€ 0.115				19/05/08	22/05/08
2006	€ 0.20	€ 224 mn	€146 mn	65%
Interim	€ 0.085				20/11/06	23/11/06
Final	€ 0.115				21/05/07	24/05/07
2005	€ 0.20	€ 233 mn	€ 146 mn	62%
Interim	€ 0.085				19/12/05	22/19/05
Final	€ 0.115				22/05/06	25/05/06
2004	€ 0.14	€ 141 mn	€ 102 mn	72%	20/05/04	26/05/04
2003	€ 0.11	€ 129 mn	€ 80 mn	62%	21/05/04	27/05/04
2002	€ 0.10	€ 82 mn	€ 72 mn	88%	19/05/03	22/05/03
2001	€ 0.10	€ 103 mn	€ 72 mn	70%	20/05/02	23/05/02
2000	185 Lit	224 Lit bn	134 Lit bn	59%	21/05/01	24/05/01
1999	133Lit	171 Lit bn	98 Lit bn	57%	22/05/00	25/05/00
1998	110 Lit	146 Lit bn	80 Lit bn	54%	24/05/99	31/05/99
1997	450 Lit	116 Lit bn	65 Lit bn	50%	18/05/98	18/05/98

* pro-forma net income excluding the impact of the 'Lehman Brothers' operation.
** 51% on Mediolanum S.p.A. statutory net income.
***99% on Mediolanum S.p.A. statutory net income.

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