3Q22 & 9M22

Update

Slide 1:

Title: A transformed Bank ready to face uncertainty from a position of strength and striving to excel

Subtitle: Our best 9M in the last decade: clear evidence of a transformed, fortified UniCredit

Slide 2:

BLOCK 1: REDEFINED

A unifying vision to build the Bank for Europe's future

A differentiating strategy

Relentless industrial plan execution resulting in step change in financial performance

BLOCK 2: EXCELLING

7^th Consecutive Quarter of Y/Y Growth

Strongest 3Q and 9M in over a decade

Ahead of FY21 despite Russia, Overlays and TLTRO

BLOCK 3: FORTIFIED

Alpha-driven Transformed Profitability

Very Strong Asset Quality

Pre-emptive Overlays and other buffers

Best-in-class Capital Position

Slide 3:

Title: All regions delivering at record levels and above UniCredit Unlocked targets

Columns of the table:

9M data, all Deltas Y/Y

Net Revenue

Change

RoAC

Text in the table:

ITALY: 6.3 bn | +10% | 14.3%

GERMANY: 3.6 bn | +8% | 12%

CENTRAL EUROPE: 2.5 bn | +15% | 15%

EASTERN EUROPE: 1.4 bn | +10% | 20.7%

Slide 4:

Title: 3 levers largely under management control, giving confidence in our strategy

COST: -3.3% 9M/9M. Targeted, superior operational excellence

Slide 5:

Title: 3 levers largely under management control, giving confidence in our strategy

NET REVENUE: +9% 9M/9M. High-quality net revenue growth

Slide 6:

Title: 3 levers largely under management control, giving confidence in our strategy

CAPITAL: 158 bps 9M22 Organic capital generation. Best-in-class capital efficiency