Situation at March 2011
Following Criteria set forth in the Corporate Governance Code issued by Borsa Italiana on March 2006 and pursuant to Section 148, paragraph 3 of Legislative Decree No. 58/98 (the "TUF"), on March 22, 2011 the Board of Directors verified the independence of each Director on the basis of information received by them or at the disposal of UniCredit regarding any business relationships that may be or appear to jeopardize their autonomous judgment.
The results of the assessment were as follows:
| | INDEP. AS PER CODE | INDEP. AS PER TUF |
|---|
| CHAIRMAN |
|---|
| Dieter RAMPL | NO | YES |
| SENIOR VICE CHAIRMAN |
|---|
| Luigi CASTELLETTI | YES | YES |
| VICE CHAIRMEN |
|---|
| Farhat Omar BENGDARA | YES | YES |
| Vincenzo CALANDRA BUONAURA | YES | YES |
| Fabrizio PALENZONA | NO | YES |
| CEO |
|---|
| Federico GHIZZONI | NO | NO |
| DIRECTORS |
|---|
| Giovanni BELLUZZI | YES | YES |
| Manfred BISCHOFF | YES | YES |
| Enrico Tommaso CUCCHIANI (*) | NO | NO |
| Donato FONTANESI | YES | YES |
| Francesco GIACOMIN | NO | YES |
| Piero GNUDI (**) | YES | YES |
| Friedrich KADRNOSKA | YES | YES |
| Marianna LI CALZI | YES | YES |
| Luigi MARAMOTTI | YES | YES |
| Antonio Maria MAROCCO | YES | YES |
| Carlo PESENTI | YES | YES |
| Lucrezia REICHLIN | YES | YES |
| Hans Jürgen SCHINZLER | YES | YES |
| Theodor WAIGEL | YES | YES |
| Anthony WYAND | YES | YES |
| Franz ZWICKL | YES | YES |
In general, further information regarding the independence of Directors are available on the Corporate Governance Report concerning each year.
(*) Mr. Enrico Tommaso Cucchiani resigned effective on 16/12/2011
(**) Mr. Piero Gnudi terminated his position on 16/11/2011 to take up Government duties
