Sustainability Report Assurance

This report was subject to the limited review of KPMG S.p.A., in accordance with the criteria established for review engagement by the International Standard on Assurance Engagements 3000: Assurance Engagements other than Audits or Reviews of Historical Financial Information, issued by the International Auditing and Assurance Standards Board (IAASB).

KPMG S.p.A have reviewed the 2010 Sustainability Report following these procedures:

• comparing the economic and financial information and data presented in the “Determination and distribution of Value Added” and information and data included in Group’s consolidated financial statements
• analysing how the processes underlying the generation, recording and management of quantitative data included in the Sustainability Report
• analysing the compliance of the qualitative information included in the Sustainability Report with the guidelines Sustainability Reporting Guidelines & Financial Services Sector Supplement published in 2008 by Global Reporting Initiative (GRI)
• analysing the stakeholder involvement process
• obtaining the representation letter signed by the legal representatives of UniCredit S.p.A. on the compliance of the sustainability report with GRI guidelines

Nothing has come to our attention that causes us to believe that the 2010 UniCredit Sustainability Report is not prepared, in all material respects, in accordance with the Sustainability Reporting Guidelines & Financial Services Sector Supplement issued in 2008 by Global Reporting Initiative (GRI).