3Q26 AND 9M26 GROUP RESULTS

BEST QUARTER EVER - CLEAR BEAT ACROSS ALL KPIS - BEST IN THE SECTOR

Net profit +24% Y/Y to €3.3 billion, with RoTE up 4p.p. to 25.5% and interim dividend up >2x to €4.5 billion¹

Highest net profit growth, RoTE, organic capital generation and shareholder returns across the sector²

Best combination of revenue +12% (90% core revenues), and costs -1% leading to GOP +20% and a 32.8% C/I ratio (-4p.p.) in 3Q26

EPS +27%, accrued DPS³ +21% and TBVPS +17%⁴

RELENTLESS QUALITY IMPROVEMENT- ACCELERATION & TRANSFORMATION LEADING TO EXCELLENCE ACROSS THE BOARD

Successfully balancing commercial, industrial and technology levers, accelerating and improving our best-in-class baseline

Gaining targeted market share across all regions, loans +9%⁵, deposits +7%⁵ to a 88%⁵ L/D ratio, without sacrificing margins nor risk

Record results achieved while building long-term sustainability through disciplined investments in transformation

INDUSTRY-LEADING DISTRIBUTIONS WHILST STRENGTHENING OUR CAPITAL POSITION

Interim dividend >2x increased to €4.5 billion¹, equivalent to €3.0034¹ dividend per share, to be paid on 25^th November

Sustainable best-in-class 9M26 organic capital generation⁶ of €8.2 billion covered €7.3 billion⁷ accrued shareholder distributions while increasing CET1 ratio to 15.0% still deducting €4.75 billion FY25 share buy-back as well as 9M26 accrued distributions

UNMATCHED TRAJECTORY, PUSHING SECTOR BOUNDARIES

Unlocked moved us to best-in-class. Unlimited aspires to redefine sector benchmark and is delivering beyond expectations

Unrivalled lines of defence - culture, investments, transformation, overlays & extra-capital - protect us against uncertainty

FY26 net profit ambition improved to well above €11.5 billion pre-extraordinary charges, heading into 2027 with strong momentum

COMMERZBANK ADDS TO OUR COMPELLING STANDALONE CASE: STRENGTHENING OUR UNIQUE PAN-EUROPEAN FOOTPRINT AND FURTHER ADDING TO OUR BEST-IN-CLASS EPS GROWTH AND DISTRIBUTIONS PER-SHARE AT HIGH-ROTE

Next steps clear: remaining approvals expected⁸ by late November, followed by settlement and control; new governance and kick-off of «Commerzbank Unlocked» expected⁸ by 1Q27

CET1 ratio ≥13% at consolidation before impacts from PPA⁹, to increase quickly afterwards

FY26 distribution unaffected, FY27-FY30 improved versus standalone¹⁰ case

FY28 EPS well above €10¹¹ and distribution per share well above €8¹¹, further step up in 2029 and beyond

Combination with HVB¹² would unlock substantial additional value and potentially earlier than expected¹³

*****

Net profit of €3.3bn in 3Q26, up 24% Y/Y and 12% Q/Q; 9M26 net profit of €9.4bn, up 7% 9M/9M or 16% ex one-off¹⁴, with RoTE of 25.5% in 3Q26 and 24.3% in 9M26

Revenue of €6.9bn in 3Q26, up 12% Y/Y; driven by core revenues which represent 90% of total

Standout performance in fees & net insurance, up 11% Y/Y, driven by strong growth across markets and product categories

Strong NII growth up 5% Q/Q and up 8% Y/Y, supported by high-quality volume growth and disciplined deposit pricing

Continued low CoR at 17 basis points in 9M26, within target range. Net NPE ratio remains low at 1.4%. Highest overlays at €1.5 billion¹⁵

Costs down 1% Y/Y and 9M/9M despite continued investments, with best-in-class, most improved, Cost/Income of 32.8% in 3Q26

3Q26 CET1 ratio of 15.0%, still deducting €4.75 billion FY25 share buy-back as well as €7.3 billion⁷ 9M26 accrued distributions

Well positioned to outperform future targets, with standalone¹⁰ FY28 net profit ambition confirmed well above €13 billion and well above €15 billion in FY30 at circa 25% RoTE

Andrea Orcel, Chief Executive Officer of UniCredit S.p.A. said:

"UniCredit has delivered its best quarter ever, and the best in the sector, beating across all KPIs: highest net profit growth, best RoTE and cost/income ratio and organic capital generation supporting best-in- class shareholder returns while increasing capital. 

We successfully balanced commercial, industrial and technology levers, accelerating our growth, gaining targeted market share without sacrificing margins nor risk whilst continuing steadfast in investments in our transformation.  This reflects the strength of our franchise, the talent, hard work and determination of our people, the consistency of our execution and the initial success of our Unlimited Strategy.

Our strategy is translating into consistent, measurable results. We have fundamentally transformed the way UniCredit operates, combining sustainable profitable growth with structural cost efficiency, disciplined capital allocation and a strong balance sheet. This is driving a stronger, more resilient and higher-returning franchise. We are building a bank that can deliver through cycles. As the Bank for Europe, our diversified business model, strong capital position and robust lines of defence provide resilience and strategic flexibility across different market environments."

Please refer to the General Notes and Main Definition sections at the back of this document for information regarding the financial metrics and defined terms mentioned in this press release. All deltas are on a year-on-year basis unless otherwise stated.  References to "Beat" or "ahead" of expectations mean the comparison between results and company compiled consensus available on Group's website.

¹ As approved by the UniCredit Board of Directors on 08 November 2026, having noted the fulfilment of the requirements of article 2433 bis of Italian Civil Code. The expected dividend dates are: ex-dividend date on 23 November 2026, record date on 24 November 2026 and payment date on 25 November 2026. 

² Based on latest reported data for BBVA, BNP Paribas, Crédit Agricole S.A., Deutsche Bank, ING, Intesa Sanpaolo, Santander and Société Générale.

³ Accrued DPS on outstanding dividend eligible shares at the end of the quarter.

⁴ Including FY25 interim dividend paid in November 2025 of €1.43 and FY25 final dividend paid in April 2026 of €1.72, or +9.5% Y/Y without it.

⁵ Excluding repos and IC; end of period. 

⁶ Organic Capital Generation calculated excluding impact on RWA from Danish Compromise; adjusted for positive trading one-off impact and reversal of strategic portfolio temporary RWA impact in 2Q26; it includes +12bps from Alpha Bank and Commerzbank capital related impacts.

⁷ Accrued shareholder distributions based on 80% of the net profit, adjusted for non-distributable one-offs mostly related to the badwill stemming from the equity consolidation of Commerzbank and Alpha bank (€308 million in 9M26).

⁸ Timeline and steps subject to obtaining all required regulatory approvals and satisfying all conditions to the offer. Following settlement: request to Commerzbank to convene EGM to elect new supervisory board members. New governance and kick-off of "Commerzbank Unlocked" subject to the timing of the EGM.

⁹ Before Purchase Price Allocation ("PPA") impacts means neutral assumption for the determination of net asset fair value. Purchase Price Allocation effects expected to reverse over time.

¹⁰ Standalone means before taking into account any additional benefits from the full consolidation of Commerzbank.

¹¹ Figures assume settlement of the offer, a stake in Commerzbank of around 50% and no HVB combination. They are illustrative rather than a profit forecast.  

¹² Subject to the necessary corporate and regulatory approvals.

¹³ As per 20^th April disclosure in «A new chapter», combination was initially expected after 2028; subject to achieving a solution that benefits shareholders, employees, clients and other key stakeholders.

¹⁴ Adjusted for €653 m positive one-off booked in 2Q25 within profit on investments, related to the revaluation of stakes in the life insurance joint ventures.   

¹⁵ On performing portfolio and including calibration factor.