Today UniCredit S.p.A. has issued “Additional Tier 1” Non-Cumulative Temporary Write-Down Deeply Subordinated Fixed Rate Resettable Notes targeted to institutional investors, for a total amount of EUR 1 billion.   This Additional Tier 1, part of UniCredit’s institutional MREL funding plan for 2025, contributes to improvement of the Tier 1 ratio by about 35 basis points.   The issuance follows a book building process that gathered a demand of more than EUR 6.2 billion from more than 340 investors globally, enabling to review downwards the guidance, initially set at 6.25% area, and to fix the coupon at 5.625%, with a reset margin of 329.9 bps, the lowest ever set by UniCredit.   The final allocation has been mainly in favor of funds (59%), hedge funds (22%), and banks (17%), with the following geographical distribution: UK (34%), Italy (15%), France (14%) and BeNeLux (8%).   The Notes have a 5.125% Common Equity Tier 1 (CET1) trigger - if the Group or Issuer CET1 ratio at any time falls below the trigger level, the instrument will be temporarily written down to cure the breach, taking also into consideration other instruments with similar write down triggers, ranking pari-passu among themselves.   The securities are perpetual (with maturity linked to corporate duration of UniCredit S.p.A.) and may be called by the Issuer on any calendar day during the six-month period commencing on 3rd December, 2032 and ending on 3rd June, 2033 and thereafter on any interest payment date, subject to Regulatory approval.   Notes pay fixed rate coupons of 5.625% per annum up to June 2033 on a semi-annual basis; if not called, coupon will be reset every 5 years to the aggregate of the then 5-Years Mid-Swap rate plus 329.9 bps, calculated on an annual basis and then converted to a semi-annual rate in accordance with market conventions. In line with the regulatory requirements, the coupon payments are fully discretionary.   UniCredit Bank GmbH acted as Global Coordinator and as Joint Bookrunner together with Barclays, BNP Paribas, BofA Securities, Deutsche Bank and Morgan Stanley.   The notes are expected to be rated “Ba3” by Moody’s.     Milan, 18 February 2025   Contacts: Media Relations e-mail: MediaRelations@unicredit.eu Investor Relations e-mail: InvestorRelations@unicredit.eu

  NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO OR FROM THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, JAPAN, OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.    VOLUNTARY PUBLIC EXCHANGE OFFER LAUNCHED BY UNICREDIT S.P.A. ON ALL ORDINARY SHARES OF BANCO BPM S.P.A.   PRESS RELEASE   Milan, 17 February 2025 - Reference is made to the ordinary shareholders’ Meeting of Banco BPM S.p.A. (the “Shareholders’ Meeting” and “BPM”, respectively), convened on February 28, 2025, to resolve on granting the authorization to the Board of Directors of BPM, in accordance with the directives issued by BPM in the exercise of its management and coordination activities, for the purposes of allowing the subsidiary Banco BPM Vita to (i) increase the consideration for the tender offer on Anima Holding S.p.A. announced on November 6, 2024 (the “Anima Tender Offer” and “Anima”, respectively) from Euro 6.20 (cum dividend) up to Euro 7 (cum dividend) per share and (ii) exercise the right to waive one or more of the Anima Tender Offer conditions that may not be met as of the payment date of the Anima Tender Offer itself (the “Resolution”).   The Shareholders’ Meeting was convened as BPM deemed it necessary to request an authorization from the shareholders applying the so-called passivity rule and, therefore, based on the assumption that the acts on which BPM’s shareholders are being asked to resolve could conflict with the objectives of the public exchange offer announced by UniCredit S.p.A. (“UniCredit”) on November 25, 2024 and targeting BPM (the “Offer” or “UniCredit Offer”).   Key to this, is the fact that a waiver to the conditions of the Anima Tender Offer could also be exercised in case of failure by BPM to obtain the favourable regulatory capital treatment under the so-called Danish Compromise. Even though more than three months have elapsed since the announcement of the Anima Tender Offer, no information is given on the degree of likelihood of achieving the Danish Compromise treatment.   The data provided in the report to the shareholders’ meeting as called by BPM indicates that in case the Offer were 100% successful and the Danish Compromise not granted, BPM CET1 ratio would decline by approximately 268bps, that would be added to the financial burden deriving from an increased consideration.   It is unclear which compensating actions have been envisaged in order to keep BPMs CET1 ratio higher than 13% throughout the plan regardless of regulatory treatment of the Anima acquisition, while keeping a distribution pay out of 80% of net profit.   Indeed, based on the information provided by BPM in the business plan update and the report to the shareholders’ meeting, the potential erosion of BPM CET1 ratio as of 31/12/2024 pro forma for the full 268bps impact deriving from Anima transaction without securing the Danish compromise  would bring such 2024 pro forma CET1 ratio to a level of 12.32%.  Furthermore, taking into account the regulatory headwinds indicated therein (equal to approximately -94bps) such BPM pro forma ratio would decline further to 11.38%.   In addition, considering the capital absorption in this scenario and the incremental profit potentially contributed by Anima based on the data declared by BPM, the return on the capital allocated to the Anima Tender Offer would be equal to approx. 11%1 and thus much lower than if the Danish Compromise were achieved and it could dilute BPM profitability.   In summary, the Anima transaction at these potential new terms could be inconsistent with what was announced in the presentation to the market on November 6, 2024, in which the transaction was described as promising a “high investment return with limited capital absorption”.   UniCredit highlights that the consideration proposed in its Offer represented a premium of 14.8% compared to the official price of the BPM shares on 6 November 2024, prior to the announcement of the Anima Tender Offer2. The date was chosen to exclude the impact of the Anima transaction at the original terms on BPM share price as the outcome of the offer at those terms was uncertain.   An increase in the consideration for the Anima Tender Offer and the waiver (either wholly or partially) of even just one of its conditions could result in the UniCredit Offer being terminated or becoming ineffective, unless UniCredit decides to waive the condition(s) to the Offer in accordance with the terms thereof.   In this respect, UniCredit reminds that the Offer is conditional, inter alia, on the fact that, by the date of payment of the Offer consideration, BPM and/or BPM Vita “do not modify the terms and conditions of the BPM Offer with respect to what was set forth in the November 6, 2024 notice to the market (including, without limitation, that they do not waive and/or modify, wholly or partially, the conditions precedent to the BPM Offer, the consideration of the BPM Offer, and/or any other provision of the BPM Offer that may make it more onerous and/or burdensome for the bidders)” and “in any event, […] do not resolve on undertaking or performing [...] acts or transactions that may conflict with the achievement of the objectives of the Offer pursuant to Article 104 of the TUF, even if the same have been authorized by the ordinary or extraordinary shareholders’ meeting.” In light of this, with reference to what was stated in the notice published on November 25, 2024 pursuant to Articles 102, paragraph 1 of the TUF and Article 37 of the Issuers’ Regulations (the “Offer Announcement”) and to any condition set forth herein, UniCredit wishes to clarify that, with respect to the effects of the Resolution (if approved), including the possible exercise of the authorisation to the Board of Directors of BPM (and indirectly of BPM Vita) provided therein, (a) all the conditions included in the Offer Announcement are and remain valid and effective in accordance with their terms and (b) UniCredit reserves the right to make any evaluation and to take any decision allowed under the Offer with reference to the non-fulfilment of the conditions set forth in the Offer Announcement and of those that will be contained in the offer document, once approved and published (the “Offer Document”), in compliance with the relevant provisions and with the terms of the Offer Announcement and of the Offer Document.   UniCredit reiterates that it has not yet taken any decision regarding the conditions of the Offer. Therefore, notice of the above is given to the public to ensure that BPM shareholders can make their own decisions in relation to the Resolution in full awareness of the risks and uncertainties underlying the proposals that have been made to them and of the possible consequences of their decisions which may affect the Offer.     1 Considering (i) an incremental net profit based on 2024 data equal to c. Euro 0.18bn (corresponding to the difference between Euro 0.23bn net income from Anima, less Euro 0.05bn of net income from current ~22% stake in Anima, as per slide 24 of the 2024 BPM results presentation) and (ii) an allocated capital equal to 268bps multiplied by BPM RWA as of 31 December 2024 (equal to Euro 61.6bn).   2 Premium calculated comparing (i) the implied valuation of the offered consideration based on the official price of the UniCredit shares as of 6 November 2024 and (ii) the official price of the BPM shares on the same date.       * * *     THIS PRESS RELEASE DOES NOT CONSTITUTE THE EXTENSION OF AN OFFER TO ACQUIRE, PURCHASE, SUBSCRIBE FOR, SELL OR EXCHANGE (OR THE SOLICITATION OF AN OFFER TO ACQUIRE, PURCHASE, SUBSCRIBE FOR, SELL OR EXCHANGE), ANY SECURITIES IN ANY JURISDICTION, INCLUDING THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, JAPAN, OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE LAWS OF SUCH JURISDICTION AND ANY SUCH OFFER (OR SOLICITATION) MAY NOT BE EXTENDED IN ANY SUCH JURISDICTION. The public voluntary exchange offer described in this press release (the “Offer”) will be promoted by UniCredit S.p.A. (the “Offeror” or “UniCredit”) over the totality of the ordinary shares of Banco BPM S.p.A. (“BPM”). This press release does not constitute an offer to buy or sell BPM’s shares. The Offer will be launched in Italy and will be made on a non-discriminatory basis and on equal terms to all shareholders of Banco BPM S.p.A.. The Offer will be promoted in Italy as BPM’s shares are listed on the Euronext Milan organised and managed by Borsa Italiana S.p.A. and, except for what is indicated below, is subject to the obligations and procedural requirements provided for by Italian law. The Offer is not as of today being made in the United States (or will not be directed at U.S. Persons, as defined in Regulation S under the U.S. Securities Act of 1933, as subsequently amended (the “U.S. Securities Act”)), Canada, Japan, Australia or any other jurisdiction where to do so would constitute a violation of the laws of such jurisdiction and any such offer (or solicitation) may not be extended in any such jurisdiction (“Other Countries”). The Offeror reserves the right to extend the Offer in the United States exclusively to certain professional investors who qualify as Qualified Institutional Buyers, as defined in Rule 144A under the U.S. Securities Act, by way of a private placement in compliance with United States federal laws and regulations concerning the offer of financial instruments and with United States laws concerning tender offers, insofar as applicable. Such potential extension of the Offer in the United States would occur by way of a separate offer document restricted to Qualified Institutional Buyers. A copy of any document that the Offeror will issue in relation to the Offer, or portions thereof, is not and shall not be sent, nor in any way transmitted, or otherwise distributed, directly or indirectly, in the Other Countries. Anyone receiving such documents shall not distribute, forward or send them (neither by postal service nor by using national or international instruments of communication or commerce) in the Other Countries. Any tender in the Offer resulting from solicitation carried out in violation of the above restrictions will not be accepted. This press release and any other document issued by the Offeror in relation to the Offer do not constitute and are not part neither of an offer to buy or exchange, nor of a solicitation to offer to sell or exchange financial instruments in the United States or in the Other Countries. Financial instruments cannot be offered or sold in the United States unless they have been registered pursuant to the U.S. Securities Act, or are exempt from registration. Financial instruments offered in the context of the transaction described in this press release will not be registered pursuant to the U.S. Securities Act, and UniCredit does not intend to carry out a public offer of such financial instruments in the United States. No financial instrument can be offered or transferred in the Other Countries without specific approval in compliance with the relevant provisions applicable in such countries or without exemption from such provisions. This press release may only be accessed in or from the United Kingdom who are “qualified investors” within the meaning of Article 2(e) of Regulation (EU) 2017/1129 as forming part of United Kingdom law by virtue of 'European Union (Withdrawal) Act 2018, as amended, and who (i) have professional experience in investment matters under section 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended, the “Decree”); or (ii) are persons who have a high net worth and who fall within article 49(2)(a) - (d) of the Decree (the aforementioned subjects, jointly, the “Relevant Persons”). Any investment activity to which this document refers is available only to Relevant Persons. Financial Instruments described in this press release are made available only to Relevant Persons (and any solicitation, offer, agreement to subscribe, purchase or otherwise acquire such financial instruments will be directed exclusively at such persons). Any person who is not a Relevant Person should not act or rely on this document or any of its contents. Tendering in the Offer by persons residing in jurisdictions other than Italy may be subject to specific obligations or restrictions imposed by applicable legal or regulatory provisions of such jurisdictions. Recipients of the Offer are solely responsible for complying with such laws and, therefore, before tendering in the Offer, they are responsible for determining whether such laws exist and are applicable by relying on their own advisors. The Offeror does not accept any liability for any violation by any person of any of the above restrictions.  

  Record 2024 results and distributions crowning three years of success, exceeding ambitions set with UniCredit Unlocked   Accelerating into the next phase of our winning strategy and uniquely positioned to keep delivering positively differentiated shareholder value     FY24 stated net profit reached €9.7 billion, up 2% FY/FY. Net profit net of DTA increased to €9.3 billion, up 8% FY/FY. Both while absorbing €1.3 billion1 in extraordinary charges. RoTE2 reached 21%; EPS at €5.74, up 22% FY/FY   Total FY24 distribution increased to €9.0 billion3 of which €3.7 billion3 cash dividend for a  FY24 total DPS4 at €2.40, up 33% FY/FY   Net revenue grew to €24.2 billion, up 4% FY/FY, driven by fees at €8.1 billion, up 8% FY/FY, on strong client activity and product offering. NII up 3% FY/FY to €14.4 billion   Costs of €9.4 billion, down by 1% FY/FY despite inflationary pressures and investments, with industry-leading cost/income ratio at 37.9%   Asset quality remains robust, with a low cost of risk of 15 basis points, maintaining our lines of defence including c. €1.7 billion overlays   CET1 ratio at 15.9%, unchanged versus last year despite strategic investments5 and higher distributions, reflecting continued strong organic capital generation of €12.6 billion6   FY25 guidance of net profit and RoTE broadly in line with FY24 despite macro headwinds. Distributions greater than FY24 with cash dividend at 50% of net profit   2027 ambition of net profit at circa €10 billion. Together with excess capital return, FY25-27 ambition of yearly distribution7 greater than FY24   We remain committed to sustainable profitability targeting a FY25-27 RoTE above 17%   Strong growth in EPS and DPS continues   Inorganic options only pursued if they meet strict strategic and financial parameters and improve UniCredit’s standalone case for the benefit of all stakeholders   FY24 ESG plan’s targets achieved8: reached 15% ESG lending share and exceeding the targets with 20% sustainable bond and 53% ESG AuM stock penetration     On 10 February 2025, the Board of Directors of UniCredit S.p.A. (“UniCredit” or “the Group”) approved the 4Q24 and FY24 Consolidated Results as of 31 December 2024.   The Group's record-breaking performance in FY24 crowns our 16th consecutive quarter of sustainable profitable growth. This remarkable achievement reflects the significant trapped potential we have unlocked during the initial phase of UniCredit Unlocked: all the targets set were meaningfully surpassed across all regions, leveraging a unique pan European model: diversified fees and high-quality net revenue growth, high organic capital generation, strong RoTE, and generous total distributions. Even the cost target set in 2021 was met despite a much higher inflationary environment than originally envisaged. With this solid foundation in place, we are now ready to enter the next phase of acceleration from 2025 to 2027.   FY24 net profit at €9.3 billion with its 8.1 per cent increase versus prior year and FY24 stated net profit at €9.7 billion, a 2.2 per cent increase compared to the previous year, are evidence of a transformed UniCredit. FY24 net profit at €10.3 billion on an underlying basis, i.e. net profit not considering €1.3 billion extraordinary charges (gross of tax) due to integrations costs (€0.8 billion) to secure future profitability and RCA9 case full coverage.   This is further evidenced by the continued excellent profitability and shareholder value creation with a FY24 RoTE at 17.7%, or 20.9% on a 13% CET1 ratio, up by 1.1 percentage point versus prior year and EPS of €5.74 up almost 22 per cent versus prior year.   For the 16th consecutive quarter we delivered sustainable quality growth. In 4Q24, net revenues reached €5.6 billion, of which €2.0 billion of fees with a remarkable 8.9 per cent year-on-year growth. All fee categories were up versus prior year, reflecting our unwavering client focus and innovative product offering and the effectiveness of all the initiatives put in place so far.   Net interest income (“NII”) increased by 1.1 per cent year-on-year to €3.7 billion, with a good discipline of deposit pass-through, at an average of 34%10 in 4Q24, only slightly up versus prior quarter. NII demonstrated once again its resilience, also thanks to the Group’s prioritisation of quality and profitable clients and segments as well as the enlarged base of the new perimeter and treasury / ALM contribution.   In FY24 the Group confirmed its structurally low and stable Cost of Risk (“CoR”) at 15 basis points. In 4Q24 CoR stood at an annualised 34 basis points, with loan loss provisions (“LLPs”) amounting to €357 million. Our high-quality, diversified credit portfolio remains resilient, supported by low non-performing exposures (“NPEs”) with sound coverage levels and robust lines of defence, including circa €1.7 billion of overlays on performing loans, broadly unchanged versus prior quarter.   In 4Q24 operational costs were €2.5 billion, up 9.5 per cent quarter on quarter due to seasonality effect, or 1.3 per cent year-on-year mainly due to new collective labour agreements. For FY24 total costs were down by 0.6 per cent versus prior year to €9.4 billion despite inflationary pressure, demonstrating the effectiveness of our ongoing efforts to streamline operations and reduce the absolute cost base while strategically investing in future growth, resulting in an industry-leading cost/income ratio of 37.9%.    The Group’s best-in class capital position is reflected in a CET1 ratio of 15.9%, resulting from a decrease of only 3 basis points compared to the previous year. This is underpinned by the sound organic capital generation during the quarter at 886 basis point, bringing the FY24 total at a record €12.6 billion6, or 4446 basis points, significantly surpassing the target set under UniCredit Unlocked of 150 basis points. Furthermore, we demonstrated once again our discipline in managing our RWAs, down by 750 million quarter-on-quarter to €277.1 billion, or €275.5 billion when excluding the impact of strategic investments4 in 4Q24, thereby further enhancing our capital efficiency.   The Group introduced the FY25 financial guidance, ensuring that we continue to deliver strong returns to shareholders and setting the net profit guidance broadly in line with FY24. Net revenue is guided above €23 billion, with a moderate decline in FY25 NII, reflecting an expected lower interest rates environment and further compression of Russia. We expect FY25 fees to be up mid-single digit percentage point versus FY24, including the net insurance result. FY25 CoR guidance is circa 15 basis points including some expected usage of overlays. We expect operating expenses to be circa €9.6 billion reflecting the expanded perimeter of the Group, or slightly down year-on-year on a like-for-like perimeter, leading to a circa 40% cost/income ratio. Group RWAs are expected at circa €300 billion, reflecting “Basel IV” and other regulatory changes and strategic initiatives.   FY25 distributions11 are guided to be greater than FY24 with a cash dividend pay-out increased to 50% of net profit (from 40%). An interim FY25 cash dividend is expected to be paid in November 2025, amounting to 45% of the total expected FY25 cash dividend (increased from 40% in FY24). We remain strongly committed to delivering sustainable profitability, targeting a FY25 RoTE above 17%, alongside a strong growth in EPS and DPS.   We have set ambitions for 2027 of a net profit of circa €10 billion, coupled with RoTE above 17% and average  FY25-27 organic capital generation broadly in line with net profit. All the above allows a FY25-27 yearly distributions11 ambition greater than in FY24, of which cash dividends at 50% of net profit and additional distributions11 including the excess capital to a 12.5-13% CET1 ratio.   In line with the Net Zero Banking Alliance timeline, UniCredit has outlined its ambition for seven of the most carbon intensive sectors, including an industry leading phase out policy for coal, thus continuing to embed ESG in its financing activities and continuing to implement our Net Zero Transition plan, advancing on Net Zero targets achievement.   Within the program “UniCredit per l’Italia”, the Bank has funded a new plafond of €5 billion for Italian corporates following investing criteria established by the “Piano di Transizione 5.0”, bringing the entire UniCredit plafond to €35 billion since 2022. Building on the success of “UniCredit for CEE 2024” initiative, worth over €2.6 billion financing solutions across Central and Eastern Europe, we have launched “UniCredit for CEE 2025”, offering micro and small businesses a suite of favourable financing solutions, amounting to €2.3 billion. In 2024 we increased UniCredit Foundation funding to €30 million, offering over 100.000 learning experiences to underserved students across 12 countries. We continue to invest in financial education, reaching over 700,000 beneficiaries, and to have a positive impact on our communities with circa 15,000 hours dedicated to volunteering by our employees.   In November 2024, we held our second ESG Day: “A challenged future: choosing the path ahead”. For this year's event, we put our clients at the centre, supporting them on their sustainable transition with actionable insights tackling a range of topics from a customer centric perspective. At ESG Day 2024, we wanted to put the focus firmly on the need for greater progress in tackling some of the toughest issues facing our society today, such as climate change and social inequality.   UniCredit has been included in the “Europe’s Climate Leaders 2024” list and, for the 4th consecutive year, in the “Europe’s Diversity Leaders 2025” by the Financial Times. The Bank has also won the 2024 Diversity and Inclusion Initiative of the Year EMEA award from Environmental Finance for its "Group Holistic Well-being approach”, awarded as Equileap Top 100 Globally for gender equality in 2024 for the 3rd consecutive year and as Top Employer in Europe for 2024 by the Top Employers Institute for the 8th consecutive year. The Bank’s efforts have been recognized in further ESG rating improvements. Additionally, UniCredit Foundation has been awarded the 2024 Tiger Award by Teach For All, a recognition that highlights a game-changing support for educational equity worldwide.   The key recent events in 4Q24 and since the end of the quarter, include:   ·     2024 interim dividend approval (press release published on 06 November 2024); ·     UniCredit successfully issues EUR 1 billion 4nc3Y Floating Rate Senior Preferred Bond (press release published on 13 November 2024); ·     Concluded the 2024 SBB Anticipation. Update on the execution of the share buy-back programme during the period from 11 to 14 November 2024 (press release published on 15 November 2024); ·     Voluntary public exchange offer launched by UniCredit s.p.a. for all of the shares of Banco BPM s.p.a. (press release published on 25 November 2024); ·     UniCredit is making a voluntary public exchange offer for Banco BPM s.p.a. for a total consideration of circa €10.1 billion fully in shares (press release published on 25 November 2024); ·     Moody's affirms UniCredit ratings following the offer on Banco BPM, confirming potential for stand-alone rating above sovereign (press release published on 27 November 2024); ·     Fitch affirms UniCredit rating one notch above the sovereign following the offer on Banco BPM. Outlook remains positive (press release published on 02 December 2024); ·     UniCredit well above the specific capital requirements set by ECB (press release published on 11 December 2024); ·     Filing of the offer document with Consob (press release published on 13 December 2024); ·     UniCredit enters into additional instruments relating to Commerzbank shares and increases aggregate position to ca. 28% (press release published on 18 December 2024); ·     Notice pursuant to Article 41, paragraph 2, letter c) of Regulation adopted by Consob with resolution no. 11971 of 14 May 1999, as subsequently amended ("Issuers' Regulation") (press release published on 24 December 2024); ·     Announcements related to the public exchange offer launched by UniCredit on the shares of Banco BPM s.p.a. (press release published on 27 January 2025); ·     UniCredit informs that it holds an equity stake of circa 4.1% in the share capital of Generali acquired through market purchases over time (press release published on 02 February 2025).    Andrea Orcel, Chief Executive Officer of UniCredit S.p.A. said:   “Three years ago we announced UniCredit Unlocked with financial goals that many said were too ambitious. We have now overdelivered on all those goals, outperforming on all metrics including profitability and distribution targets, and are entering the next phase of our strategy. In this phase, we will accelerate our growth, aspiring to further widen the gap with our competitors, close our valuation gap, and cementing UniCredit as the bank of Europe’s future and benchmark for banking.   We ended 2024 with a strong fourth quarter, crowning 16 quarters of quality profitable growth and our best full year stated net profit ever at €9.7 billion, net profit ex DTA is up 8% versus the prior full year. Underlying net profit was €10.3 billion excluding actions to secure future profitability. Full year RoTE was a robust 17.7%, or 20.9% on a 13% CET1 ratio, underpinned by increased net revenue, a best-in-class cost/income ratio and superior capital efficiency with an organic capital generation of €12.6 billion. We intend to increase our distributions to €9.0 billion to shareholders for 2024, pending approvals. As further proof of our generous distribution policy we are increasing the cash dividend to 50% of net profit from 2025.   Our stand-alone growth and distribution investment case is compelling supported by an attractive geographic footprint, a quality client and business mix as our lines of defence will protect us and our clear alpha initiatives deliver ever greater results. We will continue to demonstrate superior financial performance and shareholder value creation. Any inorganic growth must improve our standalone case and meet our strict financial and strategic requirements.   The macroeconomic and geopolitical backdrop remains complicated and unpredictable. We are however well positioned to absorb a normalization of interest rates and cost of risk and cost inflation. Our diversification together with management actions, and integration costs and overlays already taken provides us with an important advantage. This will allow us to maintain strong profitability and distribution.   Finally, a profound thank you to the employees for their hard work and dedication to all our stakeholders. I am proud of your successes as we build the bank for Europe’s future together.”    

  UniCredit named Global Bank of the Year 2024 and EMEA Loan House Award 2024 by IFR. This is UniCredit’s second time being awarded Bank of the Year in 2024, having previously won The Banker’s Bank of the Year and Bank of the Year in Europe awards.   IFR has recognised UniCredit’s global leadership, naming it the overall Bank of the Year 2024 and EMEA Loan House in its IFR Awards 2024.   The winners have been published on ifre.com on February 5 and in the IFR Awards supplement. The awards will be presented during its annual gala dinner ceremony in London on March 17.     With a pedigree stretching back over four decades, IFR (International Financing Review) is the world's leading provider of global capital markets intelligence. The IFR team is the largest and most experienced of any capital markets publication and comprises a careful blend of seasoned journalists and acknowledged industry professionals. The publication is uniquely qualified to offer unbiased expert commentary from all major financial hubs, ensuring the highest grade of quality journalism.   Commenting on the Awards won by UniCredit, Matthew Davies, editor in chief of IFR, said: "Andrea Orcel’s moves in the M&A market have taken all the headlines. Certainly, he has challenged European authorities to live up to their words on the banking union. But it is vital not to overlook the turnaround of UniCredit’s underlying business in the past few years. It has gone from an also-ran in the European banking industry to a leader. It is much more profitable, much more dynamic, and much more entrepreneurial than it was. That is great news for its clients – but also for the Italian and European banking sector”.   In recent years, UniCredit has relentlessly worked on its cultural and industrial transformation, committing to fundamental change to redefine its future, with the ambition of becoming the bank for Europe’s future.   Commenting on the Awards, Andrea Orcel, UniCredit CEO, said: “We are extremely proud of these achievements and what they represent about UniCredit’s transformation. UniCredit is a different institution today and, as we conclude the first phase of UniCredit Unlocked having achieved and exceeded all our objectives, it is a pleasure to reflect on how far we have come. We have emerged as the benchmark for banking excellence in Europe thanks to the hard work and dedication of our people, who strive relentlessly to deliver for our clients and their communities. These are their awards, and they should be very proud of what they have achieved."   UniCredit's excellence has also been recognized by the prestigious international magazine The Banker, part of the Financial Times group, which named UniCredit Bank of the Year and Bank of the Year in Europe in 2024.   Serving 15 million clients in 13 markets across Europe, UniCredit remains focused on supporting its clients and employees, while working to fulfil its purpose and empower communities to progress.     Milan, 6 February 2025      For further information, please contact: mediarelations@unicredit.eu  

  UniCredit informs that it holds an equity stake of circa 4.1% in the share capital of Generali acquired through market purchases over time.   The stake is a pure financial investment of the bank that significantly exceeds its return metrics and has a negligible impact on CET1.   An additional circa 0.6% is held as part of ordinary services for clients and related hedge.   UniCredit has no strategic interest in Generali and remains fully focused on the continued execution of UniCredit Unlocked, the tender offer on Banco BPM and the investment in Commerzbank.       Milan, 02 February 2025     Contacts:  Media Relations e-mail: MediaRelations@unicredit.eu Investor Relations  e-mail: InvestorRelations@unicredit.eu