Bper Banca — Investor Presentation 2017

Nov 8, 2017

9M17 consolidated results

Alessandro Vandelli - Chief Executive Officer8 November 2017

Disclaimer

This document has been prepared by "BPER Banca" solely for information purposes, and only in order to present its strategies and main financial figures.

The information contained in this document has not been audited.

No guarantee, express or implied, can be given as to the document's contents, nor should the completeness, correctness or accuracy of the information or opinions herein be relied upon.

BPER Banca, its advisors and its representatives decline all liability (for negligence or any other cause) for any loss occasioned by the use of this document or its contents.

All forecasts contained herein have been prepared on the basis of specific assumptions which could prove wrong, in which case the actual data would differ from the figures given herein.

No part of this document may be regarded as forming the basis for any contract or agreement.

No part of the information contained herein may for any purpose be reproduced or published as a whole or in part, nor may such information be disseminated.

The Manager responsible for preparing the Company's financial reports, Marco Bonfatti, declares, in accordance with art. 154-bis, para. 2, of the "Consolidated Financial Services Act" (Legislative Order No. 58/1998), that the accounting information contained in this document corresponds to documentary records, ledgers and accounting entries.

Marco BonfattiManager responsible for preparing the Company's financial reports

BPER Banca S.p.A., Bank with head office in Modena Via San Carlo, 8/20 - VAT number and Business Register no. 01153230360 -Share capital fully subscribed and paid in, amounts to Euro 1,443,925,305 and is represented by 481,308,435 registered ordinary shares- Bank Registration no. 4932 ABI code 5387.6- Tel.059/2021111 – Fax 059/2022033 6 email: bpergroup@bper.it - PEC: bper@pec.gruppobper.it Member of the Interbank Deposit Guarantee Fund - Parent Company of BPER Banca Group - Registered in the Register of Banking group with code 5387.6, bper@pec.gruppobper.it - bper.it - gruppobper.it

Agenda

9M17 Results

Executive summary

NPE Strategy 2018-2020

Balance sheet structure

Profit and loss

Liquidity and capital adequacy

Final remarks

Annexes

Executive summary

•Best in class capital position with low leverage and strong liquidity ratios

• CET1 ratio Fully Phased at 13.81% up by more than 60 bps vs 13.17% in Jun.'17. In 3Q17, ECB authorized the removal of the add-on on RWA, requested when AIRB models were validated on Jun.'16, following the completion of remedial actions taken by the Bank
• • Asset quality improvement accelerates further thanks to the strong reduction of NPE inflows along with ^a conservative approach in the provisioning policy to increase NPE coverage ratio:
• NPE inflows from performing loans down by 56.7% y/y and default rate at 1.9% annualized back to pre-crisis levels
• bad loans inflows down by 12.7% y/y
• gross NPE ratio at 20.8% down for the fifth quarter in ^a row (-276 bps vs the peak of 23.5% in Jun.'16)
• NPE cash coverage ratio at 47.7% up by c. +320 bps vs 44.5% in Dec.'16
• • 9M17 Net profit at 149.0 €/mn impacted by significant non-recurring items1 including, among others, impairments of Atlante Fund and FITD-SV in favour of the banking system for a total of -82.4 €/mn and the badwill2 arising from the acquisition of Nuova Carife of +130.7 €/mn
• Net operating income up by 2.4% y/y on a like-for-like basis and net of non-recurrining items in the presence of decreasing operating costs (-3.1% y/y) and a limited decline of operating income (-1.0% y/y). Cost of credit at 117 bps annualized showing a strong decline in particular in 3Q17 (19 bps, 77 bps annualized)

• The Board of Directors approved the NPE Strategy 2018-2020 with the aim of reducing significantly the NPE stock and improve the overall asset quality of the Group in line with the best practises on the market

Actions contained in the Strategy include an extra-provisioning measure for an amount of around € 1 billion designed to further increase the level of NPE coverage, with the consequence of an immediate reduction in the net NPE ratio, followed by a decline of gross ratio by means of a mix of bad loans disposals and internal workout, while maintaining a solid CET1 ratio level in the timeframe of the Strategy

Agenda

9M17 Results

Executive summary

NPE Strategy 2018-2020

Balance sheet structure

Profit and loss

Liquidity and capital adequacy

Final remarks

Annexes

NPE Strategy 2018-2020

Board of Directors approved the NPE Strategy 2018-2020 based on:

• 1) solid capital base
• 2) improving and adequate NPE coverage ratio
• 3) strong improvement of asset quality trends

CET1 ratio increases significantly by more than 550 bps from 2013 onwards reaching 13.81% in Sept.'17 one of the highest level in the Italian banking system

NPE Coverage ratio increases by more than 10 p.p. from 37.3% in 2013 to 47.7% in Sep.'17 without recording any loss in the period

> -5 p.p

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Asset quality strong improvement with a default rate below 2% annualized in

Sep.'17, back to pre-crisis levels thanks to: 1) new origination processes approach and the enhancement of the initiatives undertaken by the Group's Credit and Business Areas to increase overall credit quality of performing book 2) clean-up of the loan book (ordinary migration effect into NPE)

3) a better real economy environment

annualized

NPE Strategy 2018-20201: Gross NPE ratio target at 13.5% for 2020

Board of Directors has decided to accelerate the NPE reduction already clearly visible from ongoing 2017 dynamics

Gross NPE ratio trend and target (%)

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NPE Strategy 2018-20201: 3 main pillars

Extra-provisioning c. 1 €/bn1

Extraordinary measure (at the beginning of 2018, along with IFRS9 introduction) designed to further increase the level of NPE coverage for an amount of approx. 1 €/bn and to enable an immediate reduction in the net NPE ratio and the following decrease of the gross ratio in the timeframe of the Strategy

Bad loans disposals c. 3.0 €/bn

Bad loans disposals (potential securitization transactions with GACS) worth c.3.0 €/bn in 2018-2019:

• BdS bad loans disposal by 1H18
• oBPER bad loans disposals by 2H18/1H19

Internal NPE workout

c. 1.0 €/bn

• • Strong improvement in default and cure rates via optimisation of the performing loans quality and the NPE management processes within Group's Credit and Business Areas
• • BPER Credit Management further segmentation and workout strategies related to the closure procedures for the Bad Loan portfolio, while increasing the extrajudicial transactions relative to current levels •Increasing write-off activity

2

3

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Agenda

9M17 Results

y
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NPE Strategy 2018-2020

Balance sheet structure

Profit and loss

Liquidity and capital adequacy

Final remarks

Annexes

Switch in favour of AuM and Bancassurance continues

Total Funding (€/mn)

Direct Funding breakdown (%)

€ / m n	D 1 6 e c	S 1 t 7 e p	C h ( % ) g	% l t t o n o a
Cu d ig h t a ts t rre n cc ou n a n s de i ts p os	3 2, 3 3 1	3 4, 2 8 7	6. 1 % +	6 9. 5 %
T im de i ts e p os	2, 2 2 0	2, 1 9 8	1. 0 % -	4. 5 %
Re ha ts p ur c se a g re em en	1, 7 8 0	1, 8 8 0	5. 6 % +	3. 8 %
O he ho loa t t- te r s r rm ns	2, 5 8 2	2, 7 2 8	5. 6 % +	5. 5 %
Bo ds n	6, 1 6 5	9 1 9 5,	3. 8 % -	1 2. 0 %
Ce f i ica t te r s	9 2	7 9	1 4. 3 % -	0. 2 %
Ce i f ica f de i t te t r s o p os	2, 8 8 5	2, 2 2 0	1 4. 2 % -	4. % 5
D ire de i t c to ts c us m er p os	4 7, 7 4 8	4 9, 3 1 1	3. 3 % +	1 0 0. 0 %

-0.6% since Dec.'16 on a like-for-like basis

Direct funding: bonds

New Tier 2 10NC5 issued in May'17 for a benchmark size of 500 €/mn and a coupon of 5.125%

Direct Funding breakdown by customer segment (%)

| Strettamente riservato e confidenziale AuM and Bancassurance1 significantly up and strong increase in AuM net inflows

50.3%

49.7%

Assets under custody 40.7%Assets under management 47.8%Bancassurance (stock) 11.6%AUM + Bancassurance59.4%

AUM net inflows2 (€/mn)

(1) Life-insurance products (2) figures from data management system Note: figures in this page may not add exactly due to rounding differences Note: figures including Nuova Carife. Pro-forma figures details on pages 38-39

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Indirect Deposits and Bancassurance1 composition (%)

| Strettamente riservato e confidenziale Customer loans up mainly supported by the positive trend of the retail sector

Customer loans (€/mn)

Customer loans breakdown by customer segment (%)

Customer loans breakdown (net figures; €/mn )

€ / m n	D 1 6 e c	S 1 7 t e p	C ( % ) h g
Cu t a ts rre n c c ou n	5, 3 9 2	5, 2 0 2	-3 5 %
M lo tg o r a g e a ns	2 6, 4 8 8	2 8, 4 2 9	7. 3 % +
Re ha t p u rc s e a g re e m e n	0	0
Le d fa ing to a s e s a n c r	3, 3 3 7	3, 4 9 5	2 % 5. +
De b i ie t s t e cu r s	3 2 2	2 6 8	1 6. 9 % -
O he io t tra t r ns a c ns	9, 9 1 9	9, 4 5 9	4. 6 % -
Ne t lo to to an s c us m er s	4 4 9 4 5,	4 6, 9 0 7	3. 1 % +

Residential mortgages production up by 30.6% in 9M17 vs 9M16

Net secured loans1 breakdown ( %)

	S 1 t 7 e p
S / d L T l L t e c u r e o a n s o a o a n s	6 1 % 7.
S d f i L / T l f i t e c r e p e r o r m n g e p o s r e s o a n s o a p e r o r m n g u x u L e x p o s u r e s o a n s	6 4. 2 %
S d N P E / T l N P E t e c u r e o a	8 8. 6 %
S / F l l d N P E T l N P E t u y e c u r e o a	8. 0 % 7

Strong acceleration of the asset quality improvement

Net NPE (€/mn; % on total loans)

Cash coverage trend (%)

	Sept 16	Dec 16	Mar 17	Jun 17	Sept 17
Bad loans ("Sofferenze")	57.4%	57.2%	58.1%	58.8%	59.0%
including write-off	63.1%	62.9%	63.6%	63.8%	63.8%
Unlikely to pay	22.2%	23.5%	24.2%	26.4%	26.7%
Past due	8.6%	7.8%	8.0%	7.9%	11.2%
NPE	43.7%	44.5%	45.6%	46.9%	47.7%
including write-off	48.6%	49.4%	50.3%	51.3%	51.9%
Performing exposures	0.5%	0.5%	0.4%	0.5%	0.5%
Total loans	10.5%	10.2%	10.2%	10.3%	10.3%

Gross NPE (€/mn; % on total loans)

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Cash coverage ratios (%)

| Strettamente riservato e confidenziale Default rate below 2% annualized and good performance in cure rate

NPE inflows (gross figures, €/mn) Bad Loans inflows from other NPE (gross figures, €/mn)

Default rate (%; annualized) Danger rate (%; annualized) Cure rate (%; annualized)

UtP and Past due loans outflowsback to performing (gross figures, €/mn)

Source: consolidated Financial Report - Table A.1.7.

Definitions in this page. Default rate: 9M17 NPE inflows / performing loans stock as of 31 Dec.'16; Danger rate: 9M17 bad loans inflows from other NPE / (UtP + PD loans) stock at 31 Dec.'16; Cure rate: 9M17 (UtP + PD loans) outflows back to performing loans / (UtP + PD loans) stock as of 31 Dec.'16 Note: figures including Nuova Carife. Pro-forma figures details on pages 38-39

| Strettamente riservato e confidenziale Financial Assets portfolio re-mix with the reduction Italian govies weight

Government bond portfolio (€/bn)

5.9

0.5

Total govies 6.4 6.4

6.1

0.3

% H T M T t l t t l o a o n o a
8 6 1 4, 6 1 5 5 9 4. 2 %
3 9 3 2. 5 %
3 4 4 2. 2 %
1 5 6 1. 0 %
2, 6 8 1 4 4 5 5, 5 1 0 0. 0 %
2, 5 1 6 1 3, 7 1 0
+5 6 % 1 2.7 % +

Bond PTF duration: 2.4y in 3Q17 (2.9y in Dec.'16)

Note: 267.7 €/mn of Loans and Receivables (banks and customers) not included

AFS & HTM reserves (net of taxes; €/mn)

(*) Derivatives for hedging purposes related to HFT portfolio (1) Duration in years taking into account hedging Note: figures from data management system and excluding Nuova Carife

Sept 16 Dec 16 Sept 17

Italy govies Other govies

Note: figures in this page may not add exactly due to rounding differences

5.5

0.6

6.1

Agenda

9M17 Results

 i E t e c e s m m x u v u	a r y
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NPE Strategy 2018-2020

Balance sheet structure

Profit and loss

Liquidity and capital adequacy

Final remarks

Annexes

Solid Net profit for the 9M17 of € 149 million

850.31,525.2 577.6161.6 149.0544.0 82.7 48.2 577.3309.061.4 501.120.9 36.2142.2 13.5 0.9Net interest income Net commissions Dividens and Trading gains Other costs / revenues Operating Income Staff expenses Administrative expenses Depreciations & Amortizations Net Operating Income Total Provisions Net Provisions for Risks and Charges Contribution to funds Net other income Profit before taxes Taxes Minority Interests Profit pertaining to Parent Company -2.9% +2.1% +5.7% -1.9% +0.5% -0.3% +10.6% -6.0% +22.4% -25.2% +9.4% +11.2% -66.7% +47.3%Includes nonrecurring profit for 130,7 €/mn milion relative to badwillof Nuova CarifeChg. y/y Includes non-recurring impairments of Atlante Fund (52.9 €/mn) and FITD-SV (29.5 €/mn) Includes non- recurring items for an net amount of -11.2 €/mn1_2 2

9M17 Reclassified consolidated Profit & Loss* (€/mn)

(*) List of all non-recurring and other items for 2017/16 on page 31 and 32; other explanations on 3Q17 reclassified consolidated Profit & Loss on page 41

(1) Caption exposed net of "Recovery of taxes" reallocated, for better representation, at caption 180 b) "Other administrative expenses", where relative tax costs are accounted (31.4 €/mn in 3Q17 and 29.4 €/mn in 3Q16) (2) See details on page 23, 31, 32.

CR Saluzzo and Nuova Carife have been included in Consolidated P&L respectively in 4Q16 and 3Q17. See details on page 31 Note: n.m.: Not meaningful; Figures in this page may not add exactly due to rounding differences

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Resilient Core income supported by good net commissions performance

1,409.0 1,394.4 -1.0%876.1 850.3532.9 544.0Sept 16 Sept 17 Net interest incomeNet commissions

Net Interest Income (€/mn)

Net Interest Income evolution (€/mn)

Core Income (€/mn)

Net Interest Income contribution* (€/mn)

(*) Figures from Consolidated Profit and Loss (Bank of Italy format Circular 262/2005)- Item 10 «Interest and similar income» (TLTRO2 benefit included among "Other") and Item 20 «Interest and similar expense». The full 2016 benefit of ECB "sweetener" (TLTRO2) of 8.3 €/mn was totally accounted in 4Q16 (pro-quota 4Q16 benefit of 4.2 €/mn out of a total benefit of 8.3€/mn); TLTRO2 benefit of 23.8 €/mn in 9M17 (1Q17 of 5.1 €/mn, 9.3 €/mn in 2Q17 and 9.4 €/mn in 3Q17)

Note: CR Saluzzo and Nuova Carife have been included in BPER Banca Group rispectively in 4Q16 and 3Q17. 9M17 NII of CR Saluzzo of 9.8€/mn and 3Q17 NII of Nuova Carife of 5.6 €/mn Note: figures in this page may not add exactly due to rounding difference

| Strettamente riservato e confidenziale Customer spread still under pressure but expected to stabilize in the coming quarters

Spread (%) 1182 bps including only the pro-quota TLTRO2 benefit for 4Q16

Spread contribution (%)

Mark up & mark down (%)

(1): 2Q17 and 3Q17 spread calculated taking into account the available deposit with ECB, see on page 25

Note: figures from data management system

Note: figures in this page may not add exactly due to rounding differences

Sound performance of net commissions thanks to AuM and Bancassurance

y/y

Net Commissions evolution (€/mn)

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Net Commissions breakdown (€/mn; %)

Net Commissions evolution (€/mn)

	Se 1 6 t p	( % ) l to ta on	Se 1 t 7 p	( % ) l to ta on	C hg /y ( % ) y
In d ire de i d ba t ts c p os an nca ss ura nce	1 4 4. 9	2 7. 2 %	1 6 6. 0	3 0. 5 %	1 4. 6 % +
As de dy ( Au C ) ts u to se n r c us	1 1. 2		1 1. 4		2. 3 % +
As de ( Au M ) ts u t se n r m an ag em en	1 0 7. 9		1 2 6. 0		1 6. 8 % +
Ba nc as su ran ce	2 5. 8		2 8. 6		1 0. 8 % +
Cr d i ds l lec ion d p t c t ts e ar co s a n ay me n ,	1 0 6 5.	1 9. 8 %	1 0 4 7.	1 9. % 7	1. % 7 +
Lo d g tee an s a n ua ran s	2 4 8. 0	4 6. % 5	2 4 0. 2	4 4. 2 %	3. 2 % -
O he iss ion t r c om m s	3 4. 4	6. 5 %	3 0. 4	5. 6 %	1 1. 6 % -
To l ta	3 2. 9 5	1 0 0. 0 %	4 4. 0 5	1 0 0. 0 %	2. 1 % +

AuM up-front fees of 15.3 €/mn in 9M17 (19.8 €/mn in 9M16), weighing 2.8% on total net commissions

Indirect deposits and bancassurance breakdown(%)

Note: CR Saluzzo and Nuova Carife have been included in Consolidated P&L respectively in 4Q16 and 3Q17. See details on page 31 Note: 9M17 Net commissions of CR Saluzzo of 5.6 €/mn and 3Q17 Net commissions of Nuova Carife of 6.7€/mnNote: figures in this page may not add exactly due to rounding differences

Trading income +43.6% y/y net of non-recurring items

Dividends and Trading income (€/mn)

Dividends and Trading income breakdown (€/mn; %)

	S 1 6 t e p	S 1 7 t e p	C h / ( % ) g y y
D iv i de ds n	9. 2	1 1. 6	2 7. 0 % +
* Tr d ing inc a om e	9 0. 2	7 1. 0	2 1. 3 % -
Re l ize d g in / los a a s	8 4. 3	3 7. 7	3 % 5 5. -
P lus	1 7. 2	3 8. 2	1 2 2. 3 % +
M inu s	1 3 7. -	4 7. -	4 % 5 7. -
O he t rs	6. 1	2. 6	5 7. 5 % -
To ta l	9 9. 4	8 2. 6	1 6. 8 % -

Trading gains* excluding dividends (€/mn) Trading gains* excluding dividends (€/mn)

Note: figures in this page may not add exactly due to rounding differences

| Strettamente riservato e confidenziale Operating costs reduction on a like-for-like basis thanks to effective cost management

Operating Costs (€/mn) Operating costs breakdown (€/mn; %)

Op ( € /m ) t in ts er a g co s n	Se t 1 6 p	Se t 1 7 p	C /y ( % ) hg y
S f f e ta xp en se s	5 7 4. 4	5 7 7. 3	0. 5 % +
O he dm in is ive t tra t r a e xp en se s	3 1 0. 0	3 0 9. 0	0. 3 % -
D & A	5 5. 5	6 1. 4	1 0. 6 % +
Op t in ts er a g co s	9 3 9. 9	9 4 7. 6	0. 8 % +
C Sa R luz zo		1 5. 1
Nu Ca R i Fe ov a		2 1. 7
Op -fo t in ts l i ke l i ke ba is er a g co s on a r- s	9 3 9. 9	9 1 0. 9	% 3. 1 -

Other administrative expenses (€/mn; %)

S ta f f e ( € /m ) xp en se s n	Se t 1 6 p	Se t 1 7 p	C hg /y ( % ) y
S f f e ta xp en se s	5 7 4. 4	5 7 7. 3	0. 5 % +
C Sa R luz zo		9. 3
Nu Ca R i Fe ov a		1 2. 5
S f f e l i ke -fo l i ke ba is ta xp en se s o n a r- s	4. 4 5 7	5 5 5. 5	3. 3 % -
O t he dm in is tra t iv ( € /m ) r a e ex p en se s n	Se t 1 6 p	Se t 1 7 p	C hg /y ( % ) y
O he dm in is ive t tra t r a e xp en se s	3 1 0. 0	3 0 9. 0	0. 3 % -
/w ( Bu ine lan j *) ts o s ss p p ro ec ex p en se s	3 0. 0	1 5. 9	4 7. 0 % -
C Sa R luz zo		5. 1
Ca Nu R i Fe ov a		8. 5
O -fo t he dm in l i ke -l i ke ba is r a . e xp . o n a s	3 1 0. 0	2 9 5. 3	% 4. 7 -

| Strettamente riservato e confidenziale Strong reduction of the cost of credit in 3Q17 to 19 bps (77 bps annualized)

Net Provisions for Risks and Charges (€/mn)

Provisions breakdown (€/mn)

Contribution to Funds (€/mn)

Loan Loss Provisions evolution (€/mn)

	Se 1 6 t p	Se 1 t 7 p	C hg /y ( % ) y
Co i bu ion Fu ds /w ¹ tr t to n n o :	3 3. 0	3 6. 2	9. 7 % +
S R F	1 1 5.	1 6. 0	6. 0 %
G S D	1 7. 6	2 0. 2	1 4. 8 %
Ne i bu ion F I T D- S V ( Te ) t c tr t on rca s	0. 3

(1) Contributions to funds accounted in 9M16 includes contribution to ordinary SRF of 15.1 €/mn, contribution to Interbank Deposit Guarantee Fund ("FITD-SV") for Tercas of 11.3 €/mn and writeback from Interbank Deposit Guarantee Fund ("FITD-SV") for Tercas of 11 €/mn, ordinary contribution to DGS of 17.6 €/mn. Contributions to funds accounted in 9M17 includes contribution to ordinary SRF of 18.0 €/mn, write-back from Single Resolution Fund ("SRF") of 2.1 €/mn and ordinary contribution to DGS of 20.2 €/mn. For details see on pages 31 and 32 Note: CR Saluzzo and Nuova Carife have been included in BPER Banca Group rispectively in 4Q16 and 3Q17. 9M17 Loan loss provisions of CR Saluzzo were 3.1 €/mn and Loan loss provisions of Nuova Carife were 2.3€/mn Figures in this page may not add exactly due to rounding differences

Page | 23

Agenda

9M17 Results

	E x e	i t c u v e	s u m	m a r y
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NPE Strategy 2018-2020

Balance sheet structure

Profit and loss

Liquidity and capital adequacy

Final remarks

Annexes

Strong liquidity position and high level of unencumbered eligible assets

Total eligible Assets evolution* (€/mn) Eligible Assets Pool Composition (%)

• •ECB exposure of 9.3 €/bn in Sept.'17 fully composed of TLTRO2 operations (4.1 €/bn TLTRO2 in Jun.'16 and 1 €/bn TLTRO2 in Dec.'16 and 4.2 €/bn in Mar.'17)
• •Strong liquidity position with LCR and NSFR well above 100%

Best-in-class capital position in the Italian banking system

B3 Common Equity Tier 1 Ratios (%) *

Regulatory capital & ratios

B 3 F l l P h d u y a s e
€ /m n	Se t 1 6 p	De 1 6 c	Ma 1 7 r	Ju 1 7 n	Se t 1 7 p
	A I R B	A I R B	A I R B	A I R B	A I R B
Co Eq i T I E R ty 1 mm on u	4, 4 7 6	4, 3 2 5	4, 3 1 0	4, 4 3 4	4, 4 4 8
T I E R 1	4, 5 1 2	4, 3 6 2	4, 3 4 5	4, 4 6 9	4, 4 8 0
Ow Fu ds n n	4, 8 9 6	4, 6 0 7	4, 4 0 7	3 6 3 5,	3 6 5, 7
To l R W A ta	3 1, 6 7 5	3 2, 5 9 3	3 2, 8 8 3	3 3, 6 6 7	3 2, 2 1 3
Co Eq i ty T I E R 1 Ra t io mm on u	% 1 4. 1	% 1 3. 3	% 1 3. 1	% 1 3. 2	% 1 3. 8
T I E R 1 Ra t io	1 4. 2 %	1 3. 4 %	1 3. 2 %	1 3. 3 %	1 3. 9 %
Ow Fu ds Ra io t n n	1 % 5. 5	1 4. 6 %	1 4. 4 %	1 9 % 5.	1 6. % 7

• CET1 ratio Fully Phased at 13.81% (13.17% in June.'17 and 13.27% in Dec.'16) up by 64 bps since June.'17 . In 3Q17, ECB authorized the removal of the add-on on RWA, requested when AIRB models were validated on Jun.'16, following the completion of remedial actions taken by the Bank

| Strettamente riservato e confidenziale

• • Main changes in 3Q17 vs 2Q17:
• oincrease of AFS reserve: c. +7 bps
• oretained earning increase and others: c. -2 bps
• odecrease of RWA: c. +59 bps
• •B3 Leverage ratio Fully Phased at 6.1% one of the best vs peers

Capital requirements

R i t f S t. 1 7 e q u r e m e n s a s o e p	€ / m n	%
Cr d i is k t r e	2, 2 1 7	8 6. 0 %
Cr d i Va lua ion A d j ( C V A ) t t tm t e us en	1 2	0. 5 %
M ke is k t r ar	6 5	2. 5 %
Op ing is ks t er a r	2 8 3	1 1. 0 %
To ta l	2, 5 7 7	1 0 0. 0 %

(*) The Fully Phased Common Equity Tier 1 ("CET1") ratio, estimated in January 2019 in accordance with the new Basel 3 regulations and the Phased In CET1 ratio have been calculated taking into account the profit for the period allocable to equity.

Agenda

9M17 Results

Executive summary

NPE Strategy 2018-2020

Balance sheet structure

Profit and loss

Liquidity and capital adequacy

Final remarks

Annexes

| Strettamente riservato e confidenziale Final remarks: delivering on asset quality and further enhancing of capital base

• • Very solid capital position with ^a CET1 ratio Fully Phased close to 14%, despite the consolidation of Nuova Carife in Jun.'17
• CET1 Fully Phased at 13,81% (13.17% in Jun.'17 ), best in class vs peers in Italy
• • Effective NPE managemen^t strategy: strong commitment to continued reducing bad loans and improvement of recoveries, while maintaining ^a high NPE coverage
• Gross NPE ratio down by c. 3 p.p. from 2016 peak and consistent coverage ratio at 47.7%
• • Solid Net profit of 149,0 €/mn
• Net operating income up 2.4% y/y on ^a like-for-like basis and excluding non-recurring items
• • The Board of Directors approved the NPE Strategy1 2018-2020 with the aim of reducing significantly the NPE stock and improving the overall asset quality of the Group in line with the best practises on the market

Main 2020 targets of the NPE Strategy 2018-2020, even though still under in-depth analysis, are as follow:

• Gross NPE stock reduction of c. 35% from FY17 expected level mainly through bad loan disposals, internal workout and write-offs
• Gross and net NPE ratio respectively at c. 13.5% and 6.5%
• Amount of bad loans for disposals of c. GBV 3.0 €/bn within the timeframe of the Strategy, potentially in the securitization structures with GACS and concentrated in the first 12-18 months
• NPE coverage at c. 55%
• CET1 ratio greater than 12,0%
• Cost of credit lower than 60 bps annualized

Agenda

9M17 Results

Executive summary

NPE Strategy 2018-2020

Balance sheet structure

Profit and loss

Liquidity and capital adequacy

Final remarks

Annexes

Reclassified consolidated Profit & Loss*

					2 0	1 6		2 0 1 7
( € /m ) Se t n p	1 6	Se t 1 7 p	C /y hg ( % ) y	1 Q 1 6	2 Q 1 6	3 Q 1 6	4 Q 1 6	1 Q 1 7	2 Q 1 7	3 Q 1 7	C /q hg ( % ) q
Ne in inc 8 t ter t es om e	6. 1 7	8 0. 3 5	-2. 9 %	2 9 6. 8	2 9 3. 6	2 8 5. 7	2 9 4. 3	2 8 8. 1	2 8 2. 0	2 8 0. 2	-0. 6 %
Ne iss ion t c 5 om m s	3 2. 9	4 4. 0 5	2. 1 % +	1 1 7 7.	1 8 1. 0	1 4. 8 7	1 9. 8 7	1 4 7 7.	1 8 1. 9	1 8 4. 8	1. 6 % +
Co Inc 1, 4 re om e	0 9. 0	1, 3 9 4. 4	-1. 0 %	4 3. 9 7	4 4. 6 7	4 6 0. 5	4 4. 1 7	4 6 5. 5	4 6 3. 9	4 6 0 5.	0. 3 % +	lu de Inc s n on
D iv i de ds n	9. 2	1 1. 6	2 7. 0 % +	0. 1	8. 7	0. 3	0. 7	0. 3	1 0. 8	0. 5	n.m	fo ing i te rec ur r ms r
Tr d ing ins a g a	9 0. 2	7 1. 0	-2 1. 3 %	1 5. 7	4 9. 1	2 5. 5	2 9. 8	2 4. 7	2 5. 9	2 0. 5	-2 0. 8 %	f t a t o an ne mo un
O he / r ¹ t ts r c os ev en ue s	4 6 5.	4 8. 2	% 5. 7 +	1 5. 5	1 6. 4	1 3. 6	8. 7	1 0. 3	1 4. 3	2 3. 6	6 4. 8 % +	€ /m in M1 -11 .2 n 9 7
Op t ing Inc 1, 5 er a om e	5 4. 0	1, 5 2 5. 2	-1. 9 %	5 0 5. 2	5 4 8. 8	5 0 0. 0	5 1 3. 3	5 0 0. 8	5 1 4. 8	5 0 9. 6	-1. 0 %	d + € /m an 3 2.9 n f fo he le f i t t
S f f e 5 ta xp en se s -	7 4. 4	5 7 7. 3 -	0. 5 % +	-1 9 6. 6	2 0 1. 7 -	1 7 6. 2 -	1 9 4. 7 -	1 9 4. 1 -	1 9 1. 6 -	1 9 1. 7 -	0. 1 % +	p ro r sa o V isa in M1 6
A dm in is ive ¹-² 3 tra t ex p en se s -	1 0. 0	3 0 9. 0 -	-0. 3 %	-1 0 1. 1	1 0 2. 8 -	1 0 6. 1 -	1 0 7. 3 -	9 6. 6 -	1 0 4. 9 -	1 0 7. 5 -	2. 5 % +	9
De ia ion & Am iza ion t t t p rec s or s -	5 5. 5	6 1. 4 -	1 0. 6 % +	-1 7. 1	2 0. 4 -	1 7. 9 -	2 5. 1 -	1 8. 7 -	2 2. 0 -	2 0. 7 -	-6. 2 %
Op t ing ts 9 er a co s -	3 9. 9	9 4 7. 6 -	0. 8 % +	-3 1 4. 8	3 2 4. 9 -	3 0 0. 2 -	3 2 7. 1 -	3 0 9. 4 -	3 1 8. 4 -	3 1 9. 8 -	0. 4 % +
Op Ne t t ing Inc 6 er a om e	1 4. 1	5 7 7. 6	-6. 0 %	1 9 0. 4	2 2 4. 0	1 9 9. 8	1 8 6. 2	1 9 1. 3	1 9 6. 4	1 8 9. 8	-3. 4 %
Lo los is ion 4 an s p rov s -	0 0. 7	4 1 3. 0 -	3. 1 % +	-1 1 4. 2	1 6 1. 9 -	1 2 4. 6 -	2 1 9. 1 -	1 3 3. 6 -	1 8 9. 7 -	8 9. 7 -	-5 2. 7 %	lu de Inc s n on
O he is ion t r p rov s	8. 8 -	8 8. 1 -	n.m	-7 3	0. 4	1. 9 -	4 1. 5 -	1 2. 7 -	5 2. 4 -	2 2. 9 -	-5 6. 3 %	ing rec ur r
To ta l p is ion 4 ro v s -	0 9. 5	5 0 1. 1 -	2 2. 4 % +	-1 2 1. 5	1 6 1. 5 -	1 2 6. 4 -	2 6 0. 6 -	1 4 6. 3 -	2 4 2. 1 -	1 1 2. 7 -	-5 3. 5 %	f im irm ts p a en o
Ne Pr is ion for R is ks d C ha t ov s an rg es -	2 7. 9	2 0. 9 -	-2 5. 2 %	-9 6	1 2. 5 -	5. 8 -	4. 7 -	5. 7 -	5. 9 -	9. 3 -	5 6. 0 % +	lan d ( A Fu t te n 5 2.9
Co i bu ion Fu ds ( S R F, D G S, F I T D- S V ) ² tr t to n n -	3 3. 0	3 6. 2 -	9. 4 % +	-1 0 5.	0. 4 -	1 6 7. -	2 9. 5 -	1 8. 1 -	2. 1	2 0. 2 -	n.m	) d € /m F I T D- S V n an
Ne he inc t o t r om e	1. 6	1 4 2. 2	n.m	3. 2	4. 1 -	2. 5	2 6. 2 -	3. 7	1 3 3. 6	4. 9	-9 6. 3 %	( ) € /m 29 .5 n
Pr f i ( los ) be fo 1 t tax o s re es	4 5. 3	1 6 1. 6	1 1. 2 % +	4 7. 4	4 5. 4	5 2. 4	1 3 4. 7 -	2 5. 0	8 4. 0	5 2. 6	-3 7. 5 %
Ta xe s -	4 0. 6	1 3. 5 -	-6 6. 7 %	-1 4. 1	1 3. 7 -	1 2. 8 -	4 5. 9	7. 7 -	1 7. 9	2 3. 7 -	n.m
Ne f i f a de d isp t p t o ts ro ss e un r	0. 0	0. 0	n.m	0. 0	0. 0	0. 0	0. 0	0. 0	0. 0	0. 0	n.m
f ( ) Ne t p i t los 1 ro s	0 4. 6	1 4 8. 1	4 1. 5 % +	3 3. 3	3 1. 7	3 9. 6	8 8. 8 -	1 7. 3	1 0 2. 0	2 8. 9	1. % -7 7
M ino i In ty ter ts r es	3. 5 -	0. 9	-1 2 4. 7 %	-2 3	2. 0	3. 2 -	1. 9	2. 7 -	2. 5	1. 0	-5 9. 4 %	lu de Inc s n on
Pr f i t ( los ) fo t he io d o s r p er 1 Co ta in ing to t he Pa t p er re n mp an y	0 1. 2	1 4 9. 0	4 7. 2 % +	3 1. 0	3 3. 8	3 6. 4	8 6. 9 -	1 4. 6	1 0 4. 5	2 9. 9	-7 1. 4 %	f fo ing i t rec ur r p ro r l € /m i ion 13 0, 7 n m la ive ba dw i l l t to re
/ inc 6 0. t co s om e	% 5	6 2. 1 %		6 2. 3 %	9. 2 % 5	6 0. 0 %	6 3. % 7	6 1. 8 %	6 1. 9 %	6 2. 8 %		f fe Ca i Nu o ov a r
/ ( ) in inc iss ion 6 6. t t ter t t c co s ne es om e + ne om m s	7 %	6 8. 0 %		6 6. 4 %	6 8. 4 %	6 5. 2 %	6 9. 0 %	6 6. 5 %	6 8. 6 %	6 8. 8 %
f c d i ( bp ) t o t co s re s	9 2	8 8		6 2	7 3	9 2	8 4	9 2	0 4	1 9
f i / l inc t p t to ta 6. ne ro om e	7 %	9. 7 %		6. 6 %	5. 8 %	7. 9 %	1 7. 3 %	3. 4 %	1 9. 8 %	5. 7 %
2 8. tax te ra	0 %	8. 4 %		2 9. % 7	3 0. 1 %	2 4. % 5	- 3 4. 1 %	3 1. 0 %	2 1. 3 %	4 1 % 5.

(*) List of all non-recurring and other items for 2017/16 on page 31 and 32; other explanations on 3Q17 reclassified consolidated Profit & Loss on page 41

(1) Caption exposed net of "Recovery of taxes" reallocated, for better representation, at caption 180 b) "Other administrative expenses", where relative tax costs are accounted (31.4 €/mn in 3Q17 and 29.4 €/mn in 3Q16) (2) See details on page 23, 31, 32.

CR Saluzzo and Nuova Carife have been included in Consolidated P&L respectively in 4Q16 and 3Q17. See details on page 31 Note: n.m.: Not meaningful; Figures in this page may not add exactly due to rounding differences

Profit & Loss (1/2): main non-recurring and other items 2017

I te m		Ca ( f C / ) t io Ba k o I ta ly Fo t; irc lar 2 6 2 2 0 0 5 p n n rm a u n	€ /m n	De ip t io sc r n
No n- re cu	in i te rr	ms
	g 3 Q 1 7
		A dm in is ive ( Ca ion b ) 1 8 0- tra t t ex p en se p	2 0. 9 -	Co i bu ion In ba k De i Gu Fu d ( "F I T D- S V ") tr t to te t tee n r n p os ar an n
		Ne im irm d j loa ( Ca 1 0 0- ) t t a t. to p a en us ns p. a	1 -5	Lo d isp l o f loa ss o n os a ns
	2 Q 1 7
		Pr f i fro i inv ( Ca 2 4 0 ) t ty tm ts o m eq u es en p.	1 3 0. 7 +	Ba dw i l l o Nu Ca i fe n ov a r
		( Ca ) Ne im irm d j loa 1 0 0- t t a t. to p a en us ns p. a	-1 2. 6	f Lo d isp l o loa ss o n os a ns
		Ga f f S ( Ca ) in d isp l o ina ia l a A F 1 0 0- b ts on os a nc ss e p.	6. 9 +	Ca i l g in Ba i l ic h i ta p a on ss
		S Ca Ne im irm d j A F ( 1 3 0- b ) t t a t. to p a en us p.	-3 5. 9	Im im A lan Fu d t t te p a en n
		Ne im irm d j A F S ( Ca 1 3 0- b ) t t a t. to p a en us p.	-8 4	Im im Ca ice t p a en r se na
	1 Q 1 7
		Ne im irm d j A F S ( Ca b ) t t a t. to 1 3 0- p a en us p.	-1 7. 0	Im irm A lan Fu d t t te p a en n
		Ne im irm d j loa ( Ca 1 0 0- ) t t a t. to p a en us ns p. a	-0 5	Lo d isp l o f loa ss o n os a ns
		Ne im irm d j A F S ( Ca b ) 1 3 0- t t a t. to p a en us p.	-0 2	Im irm Ca ice t p a en r se na
		To ta l P lus	1 3 6 7. +
		To ta l M in us	-1 0 0. 6
t he i te r m s
	Q 3 1 7	A dm in is ive ( Ca ion b ) tra t t 1 8 0- ex p en se p	2 0. 2 -	Or d ina i bu ion he De i Gu Sc he ( "D G tr t to t ts te ry co n p os ar an e me s
	2 Q 1 7	( Ca ) A dm in is ive ion 1 8 0- b tra t t ex p en se p	2. 1 +	fro S ( "S ") W i -b k ing le Re lu ion Fu d R F te t r ac m so n
	1 Q 1 7	( Ca ) A dm in is ive ion 1 8 0- b tra t t ex p en se p	1 8. 0 -	Or S ( "S ") d ina i bu ion he ing le Re lu ion Fu d R F tr t to t t ry co n so n

CR Saluzzo's P&L has been included in BPER Banca Group's consolidated P&L since ¹ October 2016 (4Q16); up to 30.09.2016 the financial results of CR Saluzzo were accounted in the Profit (Loss) considering Bper's shareholding before the purchase of ^a controlling interest (31.02%). The main items of CR Saluzzo's 9M17 balance sheet are the following: •Profit & Loss - Net interest and other banking income 15.4 €/mn (o/w NNI 9.8 €/mn, net commission 5.6 €/mn); operating costs 14.9 €/mn (o/w staff expenses 9.3 €/mn and other administrative expenses 5.2 €/mn), loan loss provisions 3.1 €/mn, taxes ⁺ 0.6 €/mn, net loss 1.4 €/mn.

Nuova Carife's P&L has been included in BPER Banca Group's consolidated P&L since 30 June 2017 (3Q17). The main items of Nuova Carife's 9M17 balance sheet are the following: •Profit & Loss - Net interest and other banking income 12.3 €/mn (o/w NNI 5.6 €/mn, net commission 6.7 €/mn); operating costs 21.7 €/mn (o/w staff expenses 12.5 €/mn and other administrative expenses 8.5 €/mn), loan loss provisions 2.3 €/mn, taxes ⁺ 0.2 €/mn, net loss 15.1 €/mn.

Profit & Loss (2/2): main non-recurring and other items 2016

I te m		Ca io ( Ba k o f I ly Fo C irc lar 2 6 2 / 2 0 0 ) t ta t; 5 p n n rm a n u	€ /m n	De ip io t sc r n
6 No	in i te
n- re cu	rr g 2 Q 1 6	m s Ga in d isp l o f f ina ia l a A F S ( Ca b ) 1 0 0- ts on os a nc ss e p.	3 0. 2 +	To l c i l g in fro V I S A Eu d isp l ta ta ap a m ro p e os a
		Am in is ive ( Ca io 1 8 0- b ) tra t t e xp en se p n	1 1. 3 -	Co i bu io In ba k De i Gu Fu d ( Te ) tr t to te t te n n r n p os ar an e n rca s
		( Ca ) Ne d j loa io 1 3 0- d t a tm ts to t us en ns p n	1 1. 0 +	fro Gu ( ) W i -b k In ba k De i Fu d Te te te t te r ac m r n p os ar an e n rca s
	3 Q 1 6	Ga in d isp l o f f ina ia l a A F S ( Ca b ) ts 1 0 0- on os a nc ss e p.	2. 7 +	Ca i l g in fro V I S A Eu d isp l ta p a m ro p e os a
	Q 4 1 6	Ga S Ca in d isp l o f f ina ia l a A F ( 1 0 0- b ) ts on os a nc ss e p.	4. 7 +	C Ea fo he le f I B P I t t rn- ou r sa o
		S ( Ca ) Ne im irm d j A F 1 3 0- b t t a t. to p a en us p.	-2 8. 3	Im irm A lan Fu d t t te p a en n
		Ne im irm d j A F S ( Ca b ) t t a t. to 1 3 0- p a en us p.	-2 5	Im irm C. R. Ce ( "F I T D- S V ") t p a en se na
		( Ca ) A d j dw i l l io 2 6 0 tm ts to t us en g oo p n	-3 2. 9	Im irm dw i l l t o p a en n g oo
		A dm in is ive ( Ca ion b ) 1 8 0- tra t t e xp en se p	3 4. 9 -	Ex d ina i bu io he S ing le Re lu ion Fu d ( "S R F ") tra tr t to t t or ry co n n so n
		To l P lu ta s	4 8. 6 +
		To l M in ta us	1 0 9. 9 -
O t he i te r m s	1 Q 1 6	A dm in is ive ( Ca ion 1 8 0- b ) tra t t e xp en se p	1 0 5. -	Or S ( "S ") d ina i bu io he ing le Re lu ion Fu d R F tr t to t t ry co n n so n
	2 Q 1 6	A dm in is ive ( Ca ion 1 8 0- b ) tra t t e xp en se p	-0 1	Or S ( "S ") d ina i bu io he ing le Re lu ion Fu d R F tr t to t t ry co n n so n
	3 Q 1 6	A dm in is ive ( Ca ion 1 8 0- b ) tra t t e xp en se p	1 6 7. -	Or d ina i bu io he De i Gu Sc he ( "D G S tr t to t ts te ry co n n p os ar an e me s
	4 Q 1 6	A dm in is ive ( Ca ion b ) tra t t 1 8 0- e xp en se p	0. 7 +	W i -b k fro he De i Gu Sc he ( "D G S ") te t ts te r ac m p os ar an e me s
		( Ca ) Pr is ins fo is ks d ha ion 1 9 0 t ov r r a n c rg es p	4. 0 +	fro So W i -b k l i da i Fu d te ty r ac m r n
		O he ing ha / inc ( Ca io ) t t t 2 2 0 r o p er a c rg es om e p n	0. 8 +	W i -b k fro In ba k De i Gu Fu d Vo lou te te t te ta r ac m r n p os ar an e n n ry Sc S he ( "F I T D- V ") fo he f Ba Te t me r re sc ue o nc a rca s
		To l P lu ta s	5. 5 +
		To l M in ta us	3 2. 7 -

Assets & Liabilities: reclassified balance sheet

Assets (€/mn)1

€ /m n	Se 1 6 t p	De 1 6 c	Ma 1 7 r	Ju 1 7 n	Se 1 t 7 p	Va s De r v '1 6 ( % ) c
Cu Lo to s m er an s	4 3, 6 3 0	4 4 9 4 5,	4 6 9 4 5,	4 6, 9 9 7	4 6, 9 0 7	3. 1 % +
Se i ies Po fo l io t t cu r r	1 3, 3 7 0	1 3, 7 1 0	1 4, 6 6 3	1 4, 9 5 2	1 5, 4 5 4	1 2. 7 % +
f w h ic h A F S o	1 0, 0 0 9	1 0, 4 3 3	1 1, 2 1 1	1 1, 6 0 9	1 2, 0 0 3	1 0 % 5. +
Eq i Inv Pr ies & ty tm ts t u es en op er , In i b les ta ng	1, 8 9 1	1, 9 0 1	1, 8 9 5	2, 0 1 4	2, 0 2 0	6. 3 % +
O he t t a ts r c ur re n ss e	2, 6 1 8	2, 5 2 0	2, 3 7 2	3, 0 5 3	2, 8 7 7	1 4. 2 % +
To l As ta ts se	6 1, 0 9 5	6 3, 6 2 5	6 4, 6 2 4	6 0 1 7, 5	6 2 8 7, 5	% 5. 7 +

Liabilities & Shareholders' equity (€/mn)2

€ /m n	Se 1 6 t p	De 1 6 c	Ma 1 7 r	Ju 1 7 n	Se 1 t 7 p	Va s De r v '1 6 ( % ) c
Cu De i to ts s m er p os	4 5, 5 7 4	4 7, 7 4 8	4 6, 6 0 2	4 8, 6 2 8	4 9, 3 1 1	3. 3 % +
Ne In ba k Po i ion t te t r n s	7, 2 2 9	8, 1 3 1	9, 6 2 8	9, 0 2 8	9, 7 1 6	1 9. 5 % +
O he Fu ds & L ia b i l i ies t t r n	2, 9 8 8	2, 1 9 0	2, 8 5 8	3, 7 2 4	2, 5 4 7	1 6. 3 % +
S ha ho l de ' e i ty re rs q u	5, 7 1 8	5, 5 5 6	5, 5 3 5	5, 6 3 5	5, 6 8 4	2. 3 % +
To ta l L ia b i l i t ies	6 1, 5 0 9	6 3, 6 2 5	6 4, 6 2 4	6 7, 0 1 5	6 7, 2 5 8	% 5. 7 +

(1) Total Assets shown as net of loans to banks

(2) Total Liabilities inclusive of "Net Interbank Position" (Due to banks - Loans to banks)

Customer loans: portfolio composition

Bu ine to s ss se c r	Se 1 7 p	% on To ta l	∆ % De 1 6 vs c
fac Ma ing tu nu r	7, 0 0 5	1 4. 9 %	2. 0 % -
W ho les le d r i l s ice ies d r irs ta a an e erv s, rec ov er a n ep a	0 4 9 5,	1 0. 8 %	3. 0 % -
Co ion tru t ns c s	3, 2 6 7	9 % 7.	4. % 5 -
Re l Es ta te a	3, 4 6 0	7. 4 %	1. 3 % +
H O R E C A *	1, 4 7 5	3. 1 %	3. 7 % -
Ag icu l for d f is h ing tur try r e, es an	1, 4 8 4	3. 2 %	7. 8 % +
O he t r	6, 1 1 9	1 3. 0 %	0. 8 % -
-f To ta l loa to i de t n ina ia l bu ine ns re s n on nc s ss es	2 8, 3 1 9	% 6 0. 4	% 1. 5 -
No i de f ina ia l c ies t, n-r es n no n- nc om p an	2 0 5	0. 4 %	4 4. 9 % +
To l loa -f ina ia l bu ine ta to ns n on nc s ss es	2 8, 2 4 5	6 0. 8 %	1. 3 % -
Ho ho l ds us e	1 2, 6 8 7	2 2 % 7.	1 0. 8 % +
To l loa f ina ia l bu ine ta to ns nc s ss es	6 1 5, 5	1 2. 0 %	1 0. % 5 +
To ta l Cu to Lo s me rs an s	4 6, 9 0 7	1 0 0. 0 %	3. 1 % +

Customer loans breakdown by sectors (€/mn ; %) Customer loans breakdown by geographical distribution1(%)

Asset quality breakdown

Gr ( € /m ) os s e xp os ur es n		Se 1 6 t p		1 6 De c		1 Ma 7 r	Ju	1 7 n	Se	1 t 7 p	C	/ hg Y Y
		%		%		%		%		%	A bs	C hg ( % )
No Pe fo ing Ex ( N P Es ) n r rm p os ure s	1 1, 2 7 7	2 3. 1 %	1 1, 1 7 4	2 2. 1 %	1 1, 0 3 5	2 1. 7 %	1 1, 0 3 2	2 1. 1 %	1 0, 8 5 3	2 0. 8 %	4 2 4 -	3. 8 % -
Ba d loa ns	6, 9 6 3	1 4. 3 %	7, 0 3 9	1 3. 9 %	7, 0 2 5	1 3. 8 %	7, 1 0 8	1 3. 6 %	7, 1 2 7	1 3. 6 %	1 6 4	2. 4 % +
Un l i ke ly loa to p ay ns	4, 1 0 3	8. 4 %	3, 9 7 7	7. 9 %	3, 8 5 6	7. 6 %	3, 7 1 6	7. 1 %	3, 5 7 6	6. 8 %	5 2 7 -	1 2. 8 % -
Pa du loa t s e ns	2 1 1	0. 4 %	1 8 5	0. 3 %	1 4 5	0. 3 %	2 0 8	0. 4 %	1 0 5	0. 3 %	6 1 -	2 8. 9 % -
Gr fo ing loa os s p er rm ns	3 7, 4 5 9	7 6. 9 %	3 9, 4 8 1	7 7. 9 %	3 9, 8 6 6	7 8. 3 %	4 1, 3 3 3	7 8. 9 %	4 1, 4 2 3	7 9. 2 %	3, 9 6 4	1 0. 6 % +
To ta l g ro ss ex p os ur es	4 8, 7 3 6	% 1 0 0. 0	5 0, 6 5 5	% 1 0 0. 0	5 0, 9 0 1	% 1 0 0. 0	5 2, 3 6 5	% 1 0 0. 0	5 2, 2 7 6	% 1 0 0. 0	3, 5 4 0	% 7. 3 +

( € /m ) A d j tm ts to loa us en ns n		Se t 1 6 p		De 1 6 c		Ma 1 7 r	Ju	1 7 n		Se t 1 7 p	C	/ hg Y Y
		( % ) co ve ra g e		( % ) co ve ra g e		( % ) co ve ra g e		( % ) co ve ra g e		( % ) co ve ra g e	A bs	C hg ( % )
A d j N P Es tm ts to us en	4, 9 2 6	4 3. % 7	4, 9 6 7	4 4. % 5	0 3 0 5,	4 6 % 5.	1 2 5, 7	4 6. 9 %	1 6 5, 7	4 % 7. 7	2 0 5	1 % 5. +
Ba d loa ns	3, 9 9 6	5 7. 4 %	4, 0 3 0	5 7. 2 %	4, 0 8 5	5 8. 1 %	4, 1 7 6	5 8. 8 %	4, 2 0 6	5 9. 0 %	2 1 0	5. 3 % +
Un l i ke ly loa to p ay ns	9 1 2	2 2. 2 %	9 3 4	2 3. % 5	9 3 3	2 4. 2 %	9 8 0	2 6. 4 %	9 3 5	2 6. % 7	4 1	4. % 5 +
Pa du loa t s e ns	1 8	8. 6 %	1 2	7. 8 %	1 2	8. 0 %	1 6	7. 9 %	1 7	1 1. 2 %	1 -	5. 6 % -
A d j fo ing loa tm ts to us en p er rm ns	1 8 0	0. % 5	1 8 4	0. % 5	1 8 7	0. 4 %	1 9 6	0. % 5	1 9 3	0. % 5	1 3	2 % 7. +
To l a d j ta tm ts us en	1 0 6 5,	1 0. % 5	1 6 0 5,	1 0. 2 %	2 0 8 5,	1 0. 2 %	3 6 8 5,	1 0. 3 %	3 6 9 5,	1 0. 3 %	2 6 3	2 % 5. +

Ne t e ( € /m ) xp os ur es n		Se t 1 6 p		De 1 6 c		Ma 1 7 r	Ju	1 7 n	Se	t 1 7 p	C	hg Y / Y
		%		%		%		%		%	A bs	C hg ( % )
No Pe fo ing Ex ( N P Es ) n r rm p os ure s	6, 3 1 5	1 4. 6 %	6, 1 9 7	1 3. 6 %	6, 0 0 6	1 3. 1 %	8 6 0 5,	1 2. % 5	6 6 5, 7	1 2. 1 %	6 7 5 -	1 0. 6 % -
Ba d loa ns	2, 9 6 7	6. 8 %	3, 0 0 9	6. 6 %	2, 9 4 1	6. 4 %	2, 9 3 2	6. 2 %	2, 9 2 1	6. 2 %	4 6 -	1. 6 % -
Un l i ke ly loa to p ay ns	3, 1 9 1	7. 3 %	3, 0 4 3	6. 7 %	2, 9 2 3	6. 4 %	2, 7 3 6	5. 8 %	2, 6 2 2	5. 6 %	5 6 9 -	1 7. 8 % -
Pa du loa t s e ns	1 9 3	0. 4 %	1 4 5	0. 3 %	1 4 2	0. 3 %	1 9 2	0. % 5	1 3 3	0. 3 %	6 0 -	3 1. 1 % -
Ne fo ing loa t p er rm ns	3 7, 2 7 9	8 5. 4 %	3 9, 2 9 7	8 6. 4 %	3 9, 6 8 8	8 6. 9 %	4 1, 1 3 7	8 7. 5 %	4 1, 2 3 1	8 7. 9 %	3, 9 5 2	1 0. 6 % +
To ta l n t e e xp os ur es	4 3, 6 3 0	% 1 0 0. 0	4 5, 4 9 4	% 1 0 0. 0	4 5, 6 9 4	% 1 0 0. 0	4 6, 9 9 7	% 1 0 0. 0	4 6, 9 0 7	% 1 0 0. 0	3, 2 7 7	% 7. 5 +

Bonds maturities and issues details

Outstanding bonds (€/bn)

		Se 1 6 t p	De 1 6 c	Se 1 7 t p	C hg Y T D ( % )	C / hg Y Y ( % )
W ho les le bo ds a n		2. 7	2. 7	0 3.	1 1. 1 % +	1 1. 1 % +
	/w d bo ds o co ver e n	2. 5	2. 5	5 2.	0. 0 % +	0. 0 % +
	/w bo d ina d bo ds te o su r n	0. 2	0. 2	5 0.	1 5 0. 0 % +	1 5 0. 0 % +
Re i l bo ds ta n		3. 7	3. 4	8 2.	-1 6 % 7.	2 4. 3 % -
	/w bo d ina d bo ds te o su r n	0. 5	0. 5	4 0.	-2 0. 0 %	2 0. 0 % -
To ta l bo ds n		6. 4	6. 1	8 5.	-4 9 %	-9 % 4

Bonds issued (€/bn)

2017 Bonds maturities (€/bn)

Bonds maturities breakdown (€/bn)

Financial Assets details

Bond PTF by coupon (€/bn)*

Bonds PTF Maturities1 (€/bn)*

Govies PTF Geographical breakdown (%)

Govies Maturities1 (€/bn)*

(1) Figures are shown as per nominal values

(*) Figures from data management system, excluding Nuova Carife

Focus Nuova Carife (1/2)

BPER Banca completed the acquisition of 100% of the share capital of Nuova Cassa di Risparmio di Ferrara S.p.A. ("Nuova Carife") from the Single Resolution Fund on 30 June

The deal has a strong industrial and financial rationale, allowing the increase in loans, deposits market share with the acquisition of more than 100 thousand new customers

Main terms of the deal related to NuovaCarife acquisition are the following:

• • Shareholders' equity: 156.0 €/mn
• •Price paid:

1 euro

• • Purchase Price Allocation process (PPA): -25.3 €/mn
• • Badwill through P&L: +130.7 €/mn

Total Funding pro-forma (€/mn)

€ /m n	De 1 6 c l i da te d co ns o	Se t 1 7 p l i ke -fo r l i ke ba is s	Y T D C hg ( % ) l i ke -fo l i ke r- ba is s	Nu ov a Ca i fe r	Se 1 t 7 p l i da te d co ns o	Y T D C hg ( % ) l i da te d co ns o
D ire Fu d ing t c n	4 4 8 7, 7	4 4 6 2 7,	-0 6 %	1, 8 4 8	4 9, 3 1 1	3. 3 % +
In d ire Fu d ing t c n	3 2, 8 7 1	3 4, 1 0 8	3. 8 % +	1, 4 2 0	3 2 8 5, 5	8. 1 % +
As de dy ts to se un r c us	1 6, 5 8 5	1 5, 9 1 1	-4. 1 %	4 2 6	1 6, 3 3 7	-1 5 %
As de ts t se un r m an ag em en	1 6, 2 8 6	1 8, 1 9 7	1 1. 7 % +	9 9 4	1 9, 1 9 1	1 7. 8 % +
To ta l fu d in n g	8 0, 6 1 9	8 1, 5 7 0	1. 2 % +	3, 2 6 9	8 4, 8 3 9	5. 2 % +
( ) Ba k toc nc as su ran ce s	4, 3 0 5	4, 1 1 5	3. 7 % +	1 3 8	4, 6 4 9	6. 9 % +

Direct Funding breakdown pro-forma (€/mn)

€ /m n	De 1 6 c oli da ted co ns	Se t 1 7 p lik fo e- r lik e ba sis	C ( % ) Y T D hg fo lik r-l ike e- ba sis	Nu ov a Ca i fe r	Se t t 1 7 oli da ted co ns	Y T D C hg ( % ) oli da ted co ns
Cu d s ig h t a ts t rre n cc ou n an de i ts p os	3 2, 3 3 1	3 2, 7 5 8	1. 3 % +	1, 5 3 0	3 4, 2 8 7	6. 1 % +
T im de i ts e p os	2, 2 2 0	2, 0 9 5	5. 6 % -	1 0 3	2, 1 9 8	1. 0 % -
Re ha ts p urc se a g ree me n	1, 7 8 0	1, 8 8 0	5. 6 % +	0	1, 8 8 0	5. 6 % +
O he ho loa t t- te r s r rm ns	2, 8 2 5	2, 9 9 5	0. % 7 +	1 2 8	2, 2 7 7	6 % 5. +
Bo ds n	6, 1 5 6	5, 8 5 8	4. 8 % -	6 2	5, 9 1 9	3. 8 % -
bs ibe d by in itu tio l st - s u cr na sto cu me rs	2, 68 8	3, 04 0	1 3. 1 % +	17	3, 05 7	1 3. 7 % +
bs ibe d by il c ta tom - s cr re us ers u	3, 46 8	2, 81 8	-1 8. 7 %	45	2, 86 3	-1 7. 4 %
Ce f i ica t tes r	9 2	7 9	1 4. 3 % -	0	7 9	1 4. 3 % -
Ce i f ica f de i t tes t r o p os	2, 8 8 5	2, 1 9 4	1 2 % 5. -	2 6	2, 2 2 0	1 4. 2 % -
D ire de i t c to ts c us m er p os	4 7, 7 4 8	4 7, 4 6 3	0. 6 % -	1, 8 4 9	4 9, 3 1 1	3. 3 % +

Focus Nuova Carife (2/2)

Customer loans breakdown pro-forma(€/mn)

€ /m n	6 co De 1 c oli da ted ns	Se t 1 7 p lik e-f or lik e ba sis	Y T D C hg ( % ) lik e-f -lik or e ba sis	Nu ov a Ca i fe r	Se t 1 7 p oli da ted co ns	Y T D C hg ( % ) oli da ted co ns
Cu t a ts rre n cc ou n	5, 3 9 2	5, 0 7 9	-5. 8 %	1 2 3	5, 2 0 2	3. 5 % -
Mo loa tg r ag e ns	2 6, 4 8 8	2 6 1 2 7,	4. 2 % +	8 1 7	2 8, 4 2 9	7. 3 % +
Re ha ts p urc se ag ree me n	0	0	n.m	0	0	n. m.
Le d fac ing tor as es an	3, 3 7 3	3, 3 8 4	0. 3 % +	1 6 6	3, 5 4 9	5. 2 % +
De b i ies t s t ec ur	3 2 2	2 6 4	-1 8. 1 %	4	2 6 8	1 6. 9 % -
O he ion t tra t r ns ac s	9, 9 1 9	9, 3 0 4	-6. 2 %	1 5 5	9, 4 5 9	-4. 6 %
Ne t loa to to ns cu s me rs	4 4 9 4 5,	4 6 4 3 5,	0. 3 % +	1, 2 6 4	4 6, 9 0 7	3. 1 % +
Gr loa to to os s ns cu s me rs	0, 6 4 5 5	0, 8 8 5 5	0. % 5 +	1, 3 9 1	2, 2 6 5 7	3. 2 % +

Asset quality breakdown pro-forma

	€/ m n	De c 1 6 oli da te d co ns	Se t 1 7 p fo lik r-l ike e- ba sis	D C ( %) YT hg lik e-f -lik or e ba sis	Nu a C ife ov ar	Se t 1 7 p oli da te d co ns	YT D C hg ( %) oli da te d co ns
TO TA L L OA NS	Gr os s	50 65 4 ,	50 88 5 ,	0.5 %	1, 39 1	52 27 6 ,	3.2 %
	Ne t	45 49 4 ,	2 45 64 ,	0.3 %	1, 26 5	46 90 7 ,	3. 1%
	Co e ( %) ve rag	10 .2%	10 .3%	0. 1%	9.0 %	10 .3%	0.1 %
Ba d l oa ns	Gr os s	03 9 7,	3 09 7,	0.8 %	34	12 7, 7	1.3 %
	Ne t	3, 00 9	5 2, 91	-3 .1%	7	2, 92 1	-2 .9%
	e ( %) co ve rag	57 .25 %	58 .9 1%	1. 7%	80 .4%	59 .0%	1.8 %
Un lik ely to loa pa y ns	Gr os s	3, 97 7	6 3, 48	-12 .3%	90	3, 6 57	-1 0.1 %
	Ne t	3, 04 3	6 2, 60	-14 .4%	16	2, 62 2	-1 3.8 %
	e ( %) co ve rag	23 .49 %	25 .23 %	1. 7%	82 .1%	26 .7%	3.2 %
Pa st Du e	Gr os s	15 8	9 10	-3 1.0 %	41	15 0	-5 .1%
	Ne t	14 5	97	-3 3. 1%	36	13 3	-8 .3%
	Co e ( %) ve rag	7. 8%	10 .6%	2. 8%	12 .7%	11 .2%	3.4 %
NP Es	Gr os s	11 17 4 ,	8 10 68 ,	-4 .3%	16 5	10 85 3 ,	-2 .9%
	Ne t	6, 19 7	8 5, 61	-9 .3%	59	5, 67 7	-8 .4%
	Co e ( %) ve rag	44 .5%	47 .4%	2. 9%	64 .4%	47 .7%	3.2 %
Pe rfo ing lo rm an s	Gr os s	39 48 1 ,	7 40 19 ,	1.8 %	1, 22 6	41 42 3 ,	4.9 %
	Ne t	39 29 7 ,	4 40 02 ,	1.9 %	1, 20 6	41 23 1 ,	4.9 %
	Co e ( %) ve rag	0. 5%	0. 4%	-0 .1%	1.6 %	0.5 %	0.0 %

Note: figures in this page may not add exactly due to rounding differences

Performance ratios

l ra ina ia ios F t nc	3 0.0 9. 20 17	( *) 6 20 1
l ra ( ) S ios tru tu t c ra %
loa l as rs/ net to sto tot set ns cu me a s	66 .73 %	70 .03 %
loa d a dv dir de fro rs/ osi net to sto ect ts ust ns an an ces cu me p m c om ers	95 .12%	.28 95 %
fin l as l as cia s/t set ota set an s	8% 21. 9	21. 11%
fix d a l as ts/ tot set e sse a s	2.1 4%	2.1 3%
dw l l/to l as i ta set g oo s	0.5 1%	0.5 5%
dir de osi l as ect ts/ tot set p a s	88 .29 %	88 .07 %
de osi de /in dir de osi ts u ent ect ts p n r m an ag em p	54 .02 %	49 .55 %
fin l as b le e cia s/t i ity set an an g qu	2.9 9	( ) 1 2.7 2
l ta b le a b le e i ts/ i ity tot tan a ng sse g qu	13. 50	( 80 2 12.
ba k len din bo ( ho ds f E ) in / wi in t net ter n g rro ng usa n o uro	(9,7 ) 16, 83 3	( ) 8,1 86 30 7 ,
be f em loy nu m r o p ees	11,7 24	63 11, 5
f n be ati l ba k bra hes nu m r o on a n nc	82 1,2	1,2 00
f b l ( ) Pr i i i ios ta ty t o ra %
RO E	4.0 9%	0.3 0%
RO TE	4.5 7%	0.3 3%
RO (ne fit/ l as ) A t p tot set ro a s	0.2 1%	0.1 7%
Co st/ inc ati om e r o	62 .13%	( 60 8% 3 .4
dj loa loa Ne ns/ t a ust nts to net to sto me ns cu me rs	0.8 8%	0.9 2%
Bas ic E PS	0.3 10	0.2 10
lut d E Di PS e	0.3 10	0.2 10
is k r ios ( ) R at %
for loa mi /ne t to sto no n-p er ng ex p osu res ns cu me rs	12. 10%	62 13. %
ba d loa loa ns/ net net to sto ns cu me rs	6.2 3%	6.6 1%
li ke ly loa loa net to ns/ net to sto un p ay ns cu me rs	5.5 9%	6.6 9%
du loa loa ns/ net ast net to sto p e ns cu me rs	8% 0.2	0.3 2%
dj for for mi /g mi ust nts to a me no n-p er ng ex p osu res ros s n on -p er ng ex p osu res	.69 47 %	44 .54 %
dj ba d loa ba d loa ns/ ust nts to a me g ros s ns	59 .01 %	57. 25%
dj li ke ly loa li ke ly loa ns/ ust nts to to to a me un p ay g ros s u n p ay ns	26 .67 %	23 .49 %
dj du loa du loa ns/ ust nts to ast ast a me p e g ros s p e ns	11.1 9%	80 7. %
for for dj mi mi ust nts to /g a me p er ng ex p osu res ros s p er ng ex p osu res	6% 0.4	0.4 7%
io tex rat as	104 .90 %	( .61 4 111 %

l ra ina ia ios F t nc	3 0.0 9. 20 17	( *) 6 20 1
Ow ds ( ha d in ) Fu P n n se
( ) Co Eq ity Tie CE T1 mm on r 1 u	99 4,5 17, 4	64 97 4,4 5 ,
ds Ow n F un	8 61 5,4 40 ,	8,0 4,9 5 45
k-w hte d a ( ) Ris ig RW A ts e sse	32, 213 ,22 2	32, 59 3,2 35
l a d l d Ca ita iq i ity ios t p n ra u
( ) - has d Co Eq ity Ra io CE T1 Rat io P in t mm on e u	03 % 14.	80 13. %
( ) - has d Tie Rat io T1 Rat io P in r 1 e	14 .11%	89 13. %
l C ita l Ra io ( TC io ) - has d in To Ra P ta t t ap e	16. 89 %	15. 21%
( ) - l ly has d Co Eq ity Tie Rat io CE T1 Rat io Fu P mm on u r 1 e	81% 13.	13. 27 %
has d Lev e R io - P in at era g e	6.2 %	6.7 %
l ly has d Lev e R io - Fu P at era g e	6.1 %	6.5 %
Liq i d ity Co io ( LC ) e R at R u ve rag	113 .0%	102 .0%
b le F d ( ) Ne Sta ing Ra io NS FR t t un	n.a	10 4.3 %
f l ra No ina ia ios t n- nc	3 0.0 9. 20 17	( *) 6 20 1
du Pr iv i ios f E t ty t ( in t ho ds ) o c ra usa n o uro
d de loy ire its ct p os p er em p ee	6.0 4,2 0 1	82 03 4,1
loa d a dv loy to sto ns an an ces cu me rs p er em p ee	6 4,0 00 .9	3,9 10. 11
d p loy ets ass m an ag e er em p ee	63 6. 8 6 1,	1,3 99 .75
dm d p loy ini ets ste ass a re er em p ee	1,3 93 .51	25. 1,4 44
loy co re rev en ues p er em p ee	118 .93	123 .32
in d o he ba kin inc loy net ter est t an r n g om e p er em p ee	8 125 .9	132 .02
loy ing t sts op era co p er em p ee	81 8 .5	84 6 .5
( *) Fur the r to the tate nt o f ba lan she et d ata at 31 Dec ber 20 16 s erfo res me ce as em om e p rma nce ra valu for the Inc e S hos t 30 Se mb er 2 016 , wi th t he ion of R OE tate nt a re t pte ept es om me e a exc bas is. (1 ) Tan ible uity = t ota l sh hol der s' e ity n et o f in tan ible set g eq are qu g as s	tio valu calc es wer e re d R OT E w hich an are	ula ted . Th e c om par sh own on an an nua
(2 ) Tot al t ible set tota l as set et o f in tan ible set ang as s = s n g as s (3 ) The st/in tio h bee alc ula ted the bas is o f th e la t of the lass ified inc co com e ra as n c on you rec om e s inco ); w hen lcul d o n th e b asis of the layo vide d b Circ ula . 26 2 o f th e B ank ate uts me ca pro y r no (64 Se ). .05 % a t 30 pte mb er 2 016 s a	nt ( rati tate me ope ng exp of Italy the st/in co com	es/ rati ens ope ng tio is a t 64 .76 e ra
(4 ) form The tex rati o is lcul ate d a s th latio nsh ip bet n to tal g ing loa and as ca e re wee ros s n on- per ns ne incr ed by l pr ovis ion s fo erfo rmi loa tota eas r no n-p ng ns.	t ta ible uity , in clud ng eq	ing min orit inte y
(5 ) (6 ) The io is lcul d a rdin the visi of Reg ula tion ( EU) 57 5/2 013 ( CR R), rat ate g to ca cco pro ons as am ( EU) 15/6 Reg ula tion 20 2.	end ed by the Com mis	sion De leg d ate
(7 ) The NS FR aila ble , is in a stim d to d 1 (10 Ju t ye t av ate 00% 6.3 % a t 30 , no ny cas e e ex cee s a ne	nd 201 7 a 104 .3% at as	Dec ber 31 em

(8) Core revenues = net interest income + net commission income.

Annex – 2017/2016 Reclassified consolidated Profit & Loss

Summary schedules

For the sake of clarity, we provide below a breakdown of the aggregations and reclassifications with respect to the income statement format required by Circular no. 262/2005 of the Bank of Italy:

• •"Net result from financial activities" includes items 80, 90, 100 and 110 in the standard reporting format;
• • indirect tax recoveries, allocated for accounting purposes to item 220 "Other operating charges/income", have been reclassified as a reduction in the related costs under "Other administrative expenses" (Euro 92,364 thousand at 30 September 2017 and Euro 88,869 thousand at 30 September 2016);
• •"Net adjustments to property, plant and equipment and intangible assets" include captions 200 and 210 in the standard reporting format;
• •"Net impairment adjustments to AFS and HTM financial assets" includes captions 130 b) and 130 c) in the reporting format;
• •"Gains (losses) on equity investments, disposal of investments and adjustments to goodwill" include captions 240, 260 and 270 in the reporting format;
• • "Contributions to the DGS, SRF and FITD funds" has been shown separately from the specific accounting technical forms to give a better and clearer representation, as well as to leave the "Other administrative costs" as a better reflection of the trend in the Group's operating costs. In particular, at 30 September 2017, this caption represents the component allocated for accounting purposes to administrative costs in relation to:
• othe 2017 contribution to the SRF (European Single Resolution Fund) of Euro 15,870 thousand;
• oequalisation of the 2015 contribution to the SRF (European Single Resolution Fund) of Euro 61 thousand;
• o the 2017 contribution to the DGS (Deposit Guarantee Schemes) of Euro 20,221 thousand, representing the amount requested from the Luxembourg subsidiary for the first half of the year (Euro 16 thousand) and an estimate of the amount that will be requested from Italian banks by the end of the year (Euro 20,205 thousand);

Note that the comparative figures at 30 September 2016 have been restated compared with those included in the consolidated interim report at 30 September 2016, including the repayment received from FITD-SV for redefinition of the intervention in Banca Tercas (Euro 10,970 thousand), previously recorded under the caption "Net impairment adjustments for other financial transactions".

Contacts for Investors and Financial Analysts

G i l b B t e r o o r g	h i
H d f I t e a o n v e s o	R l i t r e a o n s
S C V i l 8 a a n a r o,	/ 2 0
4 1 1 2 1 M d o e n a	I l t a y -
P h. 3 9 0 9 2 0 2 5 +	2 1 9 4
i l i l b b t e- m a g e r o. :	@ h i b i t o r g p e r.

Alessandro Simonazzi Head of Planning & Control Via San Carlo, 8/20

41121 Modena - Italy

Ph. +39 059 2022014

e-mail: alessandro.simonazzi@bper.it

Nicola Sponghi Investor RelationsVia San Carlo, 8/20 41121 Modena - Italy Ph. +39 059 2022219e-mail: nicola.sponghi@bper.it