Corporate Governance report

Since 2001, UniCredit has annually drawn up a Corporate Governance Report for distribution to its shareholders, private and institutional investors and Borsa Italiana. The UniCredit Corporate Governance Report contains information on its corporate governance system and its level of compliance with the Code, first issued by Borsa Italiana in 1999, subsequently updated on March 2006 and on March 2010 only with reference to the new remuneration principles.

The Code, according to the major international markets experience, identifies the corporate governance best practices for listed companies recommended by the Corporate Governance Committee, to be applied according to the “comply or explain” principle that requires the explaination of the reasons of failure to comply with one or more recommendations contained in its principles or criteria.

The UniCredit Board of Directors has adopted the version of the Code issued by Borsa Italiana on March 2006 pursuant to its resolution dated 19 December 2006 and the new version of the Code published on December 2011 pursuant to its resolution dated 16 December 2011.

In light of the provisions contained in the Code and based on the last form supplied by Borsa Italiana, the UniCredit Board of Directors approved the Report on Corporate Governance and ownership structures with its resolution on 22 February 2011, drafted in accordance with Section no. 123/bis of Legislative Decree No. 58 of 24 February 1998 and Sections 89/bis and 144/decies of Consob Issuer Rules.

For further information please visit the Borsa Italiana website.