Bper Banca — Investor Presentation 2017

Aug 3, 2017

1H17 consolidated results

Alessandro Vandelli - Chief Executive Officer3 August 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

1H17 Results

Balance sheet structure

Profit and loss

Liquidity and capital adequacy

Final remarks

Annexes

Executive summary

• • On 30 June 2017, 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
• • Best in class capital position with low leverage and strong liquidity ratios
• CET1 ratio Fully Phased at 13.17% (13.11 Fully Phased as of 30 Mar.'17)1 slightly up by 6 bps vs Mar.17 despite the consolidation of Nuova Carife
• • 1H17 Net profit at 119.1 €/mn impacted by significant non-recurring items2 including, among others, impairments of Atlante Fund and FITD-SV for CariCesena for a total of -61.5 €/mn and the badwill3 arising from the acquisition of Nuova Carife of +130.7 €/mn; this positive effect enabled the application of an even more conservative provisioning approach on loans with a further strong increase of coverage

Net operating income, excluding non-recurring items4, up by 2.5% y/y (+5.3% q/q)

• • Asset quality improvement accelerates thanks to the strong reduction of NPEs inflows along with ^a conservative approach in the provisioning policy to increase NPEs coverage ratio:
• NPEs inflows from performing loans down by 43.7% y/y; Bad loans inflows down by 10.2% y/y
• gross NPEs ratio at 21.1% down by ¹⁰⁰ bps vs 22.1% at Dec.'16 and down by 240 bps vs 23.5% in Jun.'16
• NPEs cash coverage ratio further increase by +240 bps in 6 months at 46.9% vs 44.5% in Dec.'16
• • The Board of Directors has reviewed the Banking Group's activity in the management of doubtful loans, which over the years has led to a strong increase in coverage with provisioning that in the period 2012-2017 has exceeded € 4 billion. Having assessed the latest improvements in asset quality, also in the first half of 2017, the Board of Directors has decided to launch an extraordinary measure designed to further increase the level of coverage of doubtful loans, facilitating an immediate reduction in the net NPEs ratio, as well as the gross ratio by means of loan disposals. An extraordinary intervention on provisioning is being analysed, to be carried out at the beginning of 2018, for an amount of € 1 billion, which thanks to the large capital buffer will allow the Group to maintain a solid CET1 ratio of more than 11%. The Board of Directors has decided to postpone approval of the new business plan to the beginning of 2018 in order to complete the analysis of this important project

(1) See details on pag. 22

Agenda

1H17 Results

Executive summary

Balance sheet structure

Profit and loss

Liquidity and capital adequacy

Final remarks

Annexes

Funding (1/2)

Total Funding (€/mn)

Direct Funding breakdown (%)

€ /m n	De 1 6 c	Ju 1 7 n	C hg ( % )
Cu d s ig ht nt ts rre ac co un an de its p os	3 2, 3 3 1	3 3, 2 6 9	2. 9 % +
T im de its e p os	2, 2 2 0	2, 2 5 5	1. 6 % +
Re ha nts p urc se ag ree me	1, 8 0 7	1, 9 3 2	8. % 5 +
Ot he ho loa rt-t r s erm ns	2, 5 8 2	2, 6 5 1	2. 7 % +
Bo ds n	6, 1 5 6	6, 0 5 7	1. 6 % -
ubs cri be d b ins titu tion al - s y tom cus ers	2, 688	3, 040	1 3. 1 % +
ubs cri be d b il eta - s y r tom cus ers	3, 468	3, 017	-1 3. 0 %
Ce i f ica rt tes	9 2	8 1	1 2. 0 % -
Ce i f ica f de it rt tes o p os	2, 5 8 8	2, 3 8 4	7. 9 % -
D ire t c tom de i ts c us er p os	4 7, 7 4 8	4 8, 6 2 9	% 1. 8 +

Note: figures including Nuova Carife. Pro-forma figures details on pages 33-34

• • Total funding at 88.1 €/bn up by 3.7% since Dec.'16 but slightly down by 0.6% on a like-for-like basis. Indirect funding weight on total funding further increasing at 44.8% (43.8% in Dec.'16 and 44.0% in 1H16)
• • Direct funding at 48.6 €/bn up by 1.8% since Dec.'16 , but down by 2.5% on a like-for-like basis as a consequence of a strong action to switch in favour of AuM;
• • bonds decline by 1.6% since Dec. 16 (-2.8% on a like-for-like basis), no replacement of expired retail bonds:
  • • In May'17: new Tier 2 benchmark issue of 500 €/mn at a coupon of 5.125% (maturity 10NC5); LT2 institutional issue of 153 €/mn expired
• • current accounts and sight deposits up by 2.9% since Dec.'16 (-2.2% on a like-for-like basis)
• • Total wholesale funding and Covered bonds account for 3 €/bn in Jun.'17 (6.3% of the total direct funding). No wholesale bond maturities in the next 12 mths providing flexibility to the Group's funding strategy

Direct Funding breakdown by customer segment (%)

Funding (2/2)

Indirect Deposits and Bancassurance composition (%)

Indirect Deposits and Bancassurance1 (€/mn)

Note: figures including Nuova Carife. Pro-forma figures details on pages 33-34

• • Indirect deposits and Bancassurance up by 6.0% since Dec.'16 (+1.9% on a like-for-like basis):
• • AuM up by 14.5% since Dec.'16 (+8.5% on a like-for-like basis); very strong net inflows (+1.2€/bn) in 1H17 vs +0.3 €/bn in 1H16
• • positive growth in Bancassurance up by 6.5% since Dec.'16 (+3.1% on a like-for-like basis)
• • AuC down by 2.4% since Dec.'16 (-5.0% on a like-for-like basis) mainly due to outflows from institutional customers with low profitability and switch in favour of AuM and Bancassurance
• •AuM and Bancassurance weight at 59.0%
• • Monetary and Bonds funds weight at 50.8% of total AuM (down from 53.6% in Dec.'16), in consequence of positive performance of financial markets and re-mix in favour of more profitable products (Equity, Balanced, Flexible funds increase at 49.2% from 46.4% in Dec.'16)

(1) Life-insurance products

(2) Figures from data management system and excluding CR Saluzzo and Nuova Carife Note: in 4Q16,CR Saluzzo became part of BPER Banca Group. See details on page 26 Note: figures in this page may not add exactly due to rounding differences

Page | 7

Customer loans

+3.3%+6.8%

€ / m n	1 6 De c	1 Ju 7 n	C h ( % ) g
Cu t a ts rre n cc ou n	3 9 2 5,	4 2 9 5,	0. 7 % +
Mo loa tg r ag e ns	2 6, 4 8 8	2 8, 1 9 8	6. 5 % +
Re ha t p urc se a g ree me n	0	1 2 1	n. m
Le d fac ing to as es a n r	3, 3 7 3	3, 6 0 0	6. 7 % +
De b i ies t s t ec ur	3 2 2	2 7 6	1 4. 3 % -
O he ion t tra t r ns ac s	9, 9 1 9	9, 3 7 4	5. 5 % -
Ne t lo to to an s c us m er s	4 4 9 4 5,	4 6, 9 9 7	3. 3 % +
Gr lo to to os s an s c us m er s	0, 6 4 5 5	2, 3 6 5 5	3. 4 % +

Note: figures including Nuova Carife. Pro-forma figures details on pages 33-34

• Customer loans (€/mn) Net customer loans up by 3.3% since Dec.'16 (+0.4% on a like-for-like basis, gross +3.3% since Dec.'16) and up by 6.8% y/y (gross +6% y/y)
• • Mortgages up by 6.5% since Dec.'16 (+3.3% on a alike-for-like basis)
  • •residential mortgages production up by 34.3% in 1H17 vs 1H16
• • Corporate and retail loans account for 92.8% of the total loan book, highlighting Group's focus on commercial business

Customer loans breakdown (net figures; €/mn ) Customer loans breakdown by customer segment (%)

Non-performing exposures (1/2): breakdown and coverage ratios

NPEs breakdown (% on total net loans; % on total gross loans)

Note: figures including Nuova Carife. Pro-forma figures details on pages 33-34

• • Gross NPEs down by 1.3% since Dec.'16 and down by 5.1% y/y showing the effectiveness of the NPEs management strategy of the Group
• • Gross NPEs stock on total loans down to 21.1% from 22.1% in Dec.'16 and 23.5% in Jun.'16 (-246 bps y/y)
• • Cash coverage NPEs ratio further strengthening at 46.9% (44.5% in Dec.'16; +235 bps) and 51.3% including write-offs
• • Net bad loans ("Sofferenze") down: -2.6% since Dec.'16 and -4.5% y/y. Gross bad loans ("Sofferenze") up by 1% since Dec.'16 and down by 3.9% y/y.
• • Gross and net unlikely to pay down: -6.6% and -2.6% since Dec.'16 and -3.9% and -4.5% y/y
• • Gross and net past due up: 32% and 31.9% since Dec.'16 and 6.3% and - 6.7% y/y
• •87.8% of total net NPEs are collateralized (77.5% fully collateralized)

Cash coverage trend (%)

	Jun 16	Sept 16	Dec 16	Mar 17	Jun 17
Bad Ioans ("Sofferenze")	58.5%	57.4%	57 3%	58.1%	58.8%
including write-off	64.3%	63.1%	62.9%	63.6%	63.8%
Unlikely to pay	22.1%	22.2%	23.5%	24.2%	26.4%
Past due	8.2%	8.6%	7.8%	8.0%	7.9%
NPEs	45.0%	43.7%	44.5%	45.6%	46.9%
including write-off	50.1%	48.6%	49.4%	50.3%	51.3%
Performing exposures	0.5%	0.5%	0.5%	0.4%	0.5%
Total loans	11.0%	10.5%	10.2%	10.2%	10.3%

Note: figures in this page may not add exactly due to rounding differences Note: in 4Q16,CR Saluzzo became part of BPER Banca Group. See details on page 26

Non-performing exposures (2/2): inflows and coverage ratios

1H14 1H15 1H16 1H17

1H14 1H15 1H16 1H17

Page | 10

1H14 1H15 1H16 1H17

Financial Assets

Financial Assets breakdown (€/mn; %)

€ /m n	H F T	C F V	A F S	H T M	To ta l	% to ta l o n
Bo ds n	6 3 3	9 2	2 1 1, 0 8	4 2, 6 1	1 4, 0 6 0	94 .0%
Eq i ty u	8 4		2 9 9		3 8 3	2.6 %
S Fu ds d ica n an v	3 7	3 5	2 2 5		3 5 1	2.3 %
O he * t r	1 5 5		3		1 5 8	1.1 %
To l ta	6 4 7	8 2	1 1, 6 0 9	2, 6 1 4	1 4, 9 2 5	100 .0%
To ta l a f 3 1. 1 2. 2 0 1 6 s o	6 7 7	8 4	1 0, 4 3 3	2, 5 1 6	1 3, 7 1 0
Ch D ( %) YT g	-4. 4%	-2. 4%	+1 1.3 %	+3 .9%	+9 .1%

* Derivatives for hedging purposes related to HFT portfolio

Note: 275.9 €/mn of Loans and Receivables (banks and customers) not included

Financial Assets (€/bn)

• • Financial assets portfolio at 15.0 €/bn (including 179.3 €/mn from Nuova Carife), up by 1.2 €/bn since Dec.'16
• • Bond portfolio at 14.0 €/bn of which 5.4 €/bn of Italian Government bonds (5.9 €/bn in Dec.'16) with a duration of 2.5y (2.9y in Dec.'16)1
• •Italian govies account for 39% of total securities portfolio
• • Progressive diversification of the financial securities portfolio through increase of core European issuers (mainly government bonds, corporate bonds and Covered Bonds)
• • Positive AFS reserves at 98.5 €/mn (net of taxes) in Jun.'17 vs 69.1 €/mn in Mar.'17 (108.4 €/mn in Dec.'16)
• • Implicit positive reserves of 106.8 €/mn in Jun.'17 on HTM portfolio (net of taxes) calculated as difference between the fair value and the book value

Bond portfolio by issuer (€/bn)*

(1) Duration in years taking into account hedging

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

Agenda

1H17 Results

• Executive summary
• 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
Cap tio ns	( € /m ) n	Ju 1 6 n	Ju 1 7 n	C hg /y ( ) % 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	C hg /q ( ) % q
10+ 20	Ne int inc t t ere s om e	5 9 0. 4	5 7 0. 1	-3. 4 %	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. 1 %
40+ 50	Ne iss ion t c om m s	3 5 8. 1	3 5 9. 2	0. 3 % +	1 7 7. 1	1 8 1. 0	1 7 4. 8	1 7 9. 8	1 7 7. 4	1 8 1. 9	2. 5 % +
	Co Inc re om e	9 4 8. 5	9 2 9. 3	-2. 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	-0. 4 %
70	D iv i de ds n	8. 8	1 1. 1	2 6. 2 % +	0. 1	8. 7	0. 3	0. 7	0. 3	1 0. 8	n.m	lu de Inc
80+ 90+ 100 +11 0	Tra d ing ins g a	6 4. 7	5 0. 5	-2 1. 9 %	1 5. 7	4 9. 1	2 5. 5	2 9. 8	2 4. 7	2 5. 9	4. 9 % +	s n on for ing ite rec urr ms
220	O / re ¹ he t ts r c os ve nu es	3 2. 0	2 4. 6	-2 3. 0 %	1 5. 5	1 6. 4	1 3. 6	8. 7	1 0. 3	1 4. 3	3 8. 7 % +	f t a t o an ne mo un
	Op t ing Inc er a om e	1, 0 5 4. 0	1, 0 1 5. 6	-3. 6 %	5 0 5. 2	5 4 8. 8	5 0 0. 0	5 1 3. 3	5 0 0. 8	5 1 4. 8	2. 8 % +	-6. € /m in Q1 2 n 2 7
180 a)	S f f e ta xp en se s	3 9 8. 2 -	3 8 5. 7 -	-3. 2 %	-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. 3 %	d + € /m an 3 0.2 n
180 b)	¹-² A dm in is ive tra t ex p en se s	2 0 3. 9 -	2 0 1. 5 -	-1. 2 %	-1 0 1. 1	1 0 2. 8 -	1 0 6. 1 -	1 0 7. 3 -	9 6. 6 -	1 0 4. 9 -	8. 5 % +	f for he le o f it t p ro sa
200 +21 0	De ia t ion & Am t iza t ion p rec s or s	3 7. 5 -	4 0. 7 -	8. 4 % +	-1 7. 1	2 0. 4 -	1 7. 9 -	2 5. 1 -	1 8. 7 -	2 2. 0 -	1 7. 8 % +	V isa in Q1 6 2
	Op t ing ts er a co s	6 3 9. 7 -	6 2 7. 9 -	-1. 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 -	2. 9 % +
	Ne t Op t ing Inc er a om e	4 1 4. 4	3 8 7. 7	-6. 4 %	1 9 0. 4	2 2 4. 0	1 9 9. 8	1 8 6. 2	1 9 1. 3	1 9 6. 4	2. 7 % +
130 a)	Lo los is ion an s p rov s	2 7 6. 1 -	3 2 3. 2 -	1 7. 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 -	4 2. 0 % +
b)+ c)+ d) 130	O he is ion t r p rov s	7. 0 -	6 5. 2 -	n.m	-7. 3	0. 4	1. 9 -	4 1. 5 -	1 2. 7 -	5 2. 4 -	n.m
	To ta l p is ion rov s	2 8 3. 1 -	3 8 8. 4 -	3 7. 2 % +	-1 2 1. 5	1 6 1. 5 -	1 2 6. 4 -	2 6 0. 6 -	1 4 6. 3 -	2 4 2. 1 -	6 5. 5 % +	lu de Inc s n on
190	Ne Pro is ion for R is ks d C ha t v s an rg es	2 2. 1 -	1 1. 6 -	-4 7. 6 %	-9. 6	1 2. 5 -	5. 8 -	4. 7 -	5. 7 -	5. 9 -	4. 9 % +	ing rec urr
	Co i bu ion Fu ds ( S R F, D G S, F I T D- S V ) ² ntr t to n	1 4 5. -	1 9 5. -	3. 3 % +	-1 0 5.	0. 4 -	1 6 7. -	2 9. 5 -	1 8. 1 -	2. 1	n.m	f im irm ts p a en o
240 +26 0+2 70	Ne he inc t o t r om e	0. 9 -	1 3 3 7.	n.m	3. 2	4. 1 -	2. 5	2 6. 2 -	3. 7	1 3 3. 6	n.m	lan d (5 At Fu te n 2.9
280	f ( ) fo Pr i t los be tax o s re es	9 2. 9	1 0 9. 0	1 7. 4 % +	4 7. 4	4 5. 4	5 2. 4	1 3 4. 7 -	2 5. 0	8 4. 0	n.m	) d € /m F I T D- S V n an for ice ( Ca 8. 6
290	Ta xe s	2 8 7. -	1 0. 2	n.m	-1 4. 1	1 3. 7 -	1 2. 8 -	4 9 5.	7. 7 -	1 9 7.	n.m	r se na ) € /m n
310	Ne f it o f a de d isp t p ts ro ss e un r	0. 0	0. 0	0. 0 % +	0. 0	0. 0	0. 0	0. 0	0. 0	0. 0	0. 0 % +
320	f ( ) Ne t p i t los ro s	6 5. 1	1 1 9. 2	8 3. 2 % +	3 3. 3	3 1. 7	3 9. 6	8 8. 8 -	1 7. 3	1 0 2. 0	n.m
330	M ino ity Inte ts r res	0. 3 -	0. 2 -	-3 3. 0 %	-2. 3	2. 0	3. 2 -	1. 9	2. 7 -	2. 5	n.m
	Pr f i ( los ) fo he io d t t o s r p er
340	in ing he Pa Co ta to t t p er re n mp an y	6 4. 7	1 1 9. 0	8 3. 8 % +	3 1. 0	3 3. 8	3 6. 4	8 6. 9 -	1 4. 6	1 0 4. 5	n.m	lu de Inc s n on
												f for ing it rec urr p ro
	/ inc t co s om e	6 0. 7 %	6 1. 8 %		6 2. 3 %	5 9. 2 %	6 0. 0 %	6 3. 7 %	6 1. 8 %	6 1. 9 %		l € /m i ion 13 0,7 n m
	/ ( int inc iss ion ) t t t t c co s ne ere s om e + ne om m s	6 7. 4 %	6 7. 6 %		6 6. 4 %	6 8. 4 %	6 5. 2 %	6 9. 0 %	6 6. 5 %	6 8. 6 %		lat ba dw l l ive i to re f fe i
	f c d it ( bp ) t o co s re s	6 3	6 9		6 2	3 7	9 2	8 4	9 2	4 0		Nu Ca o ov a r
	f it / l inc t p to ta ne ro om e	6. 2 %	1 1. % 7		6. 6 %	8 % 5.	9 % 7.	1 3 % 7. -	3. 4 %	1 9. 8 %
	tax te ra	2 9. 9 %	9. 3 %		2 9. % 7	3 0. 1 %	2 4. % 5	3 4. 1 %	3 1. 0 %	2 1. 3 %
	lu d Ne In
	Op ing ing t t era co me ex c ite	84 3 .2	3 93 .9	+2 .5 %	190 .4	8 193	197 .0	181 .5	191 .9	20 2.0	+5 .3 %
	ing no n-r ec urr ms

(*) List of all non-recurring and other items for 2017/16 on page 26 and 27; other explanations on 2Q17 reclassified consolidated Profit & Loss on page 36

(1) Caption exposed net of "Recovery of taxes" reallocated, for better representation, at caption 180 b) "Other administrative costs", where relative tax costs are accounted (31.0 €/mn in 2Q17 and 31.8 €/mn in 2Q16)

(2) See details on page 18, 26, 27.

CR Saluzzo's P&L has been included in BPER Banca Group's consolidated P&L since 1 October 2016; 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. See details on page 26.

Page | 13

Note: n.m.: Not meaningful; Figures in this page may not add exactly due to rounding differences

Core income (1) : Net Interest Income

Net Interest Income evolution (€/mn) -2.1%-3.9%

• NII down by 3.4% y/y (-2.1% q/q) mainly due to the effects of low/negative interest rates environment and asset yield reduction Benefit from the ECB "sweetener" included in 1H17 of 14.4 €/mn (5.1 €/mn in 1Q17 and 9.3 €/mn in 2Q17; the full 2016 benefit of 8.3 €/mn was fully accounted in 4Q16 )

• Securities portfolio contribution to NII of 107.9 €/mn in 1H17 (54.6 €/mn in 2Q17 and 53.3 €/mn in 1Q17) vs 100.2 €/mn in 1H16, mainly due to the increase of portfolio volume

Net Interest Income contribution1(€/mn)

(1) Figures from 2016 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 14.4 €/mn in 1H17 (1Q17 of 5.1 €/mn and 9.3 €/mn in 2Q17) Note: in 4Q16,CR Saluzzo became part of BPER Banca Group. 1H17 Net Interest Income of CR Saluzzo: 6.5 €/mn

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

Core income (2): Net Interest Income - Spread evolution

Net Interest Income contribution* (%)

Spread contribution (%)

Mark up & mark down (%)

(1): 2Q17 spread calculated taking into account the available deposit with ECB (see on page 221

Note: figures from data management system

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

1182 bps including only the pro-quota TLTRO2 benefit for 4Q16

Core income (3): Net Commissions

	Ju 1 6 n	( % ) on to ta l	Ju 1 7 n	( % ) on to ta l	C hg /y ( y % )
In d ire de its d ba ct p os an nc as su ran ce	97 .9	27. 3%	10 7.6	30. 0%	+1 0. 0 %
As und tod ( Au C) ts se er cus y	8.1		7.9		-2. 1%
As und ( Au M) ts ent se er ma nag em	71. 8		80 .6		+1 2.2 %
Ba nca ss ura nc e	18. 0		19 .2		+6 .4%
Cr d it c ds l lec t ion d p nts e ar , c o s a n ay me	6 9. 4	19.4 %	70 .1	19. 5%	+1 .0 %
Lo d g tee an s a n ua ran s	16 7.1	46. 7%	16 0. 1	44. 6%	-4. 2%
Ot he iss ion r c om m s	23 .7	6.6 %	21 .4	6.0 %	-9. 8 %
To l ta	3 8. 1 5	100 .0%	3 9. 2 5	100 .1%	+0 3 %

• Net commissions up by 0.3% y/y and up by 2.5% q/q, mainly driven by rise of fees income related to AuM and Bancassurance which more than offsets the decline of traditional business netcommissions:

• • Indirect deposits and Bancassurance up by 10.0% y/y o/w:
• •AuM & Bancassurance +11.0% y/y;
• •AuC: -2.1% y/y
• •credit cards, collections and payments up by 1.0% y/y
• •loans and guarantees down by 4.2% y/y
• • AuM up-front fees of 9.4 €/mn in 1H17 (13.8 €/mn in 1H16) weighing 2.6% on total net commissions

Net Commissions breakdown (€/mn; %) Net Commissions evolution (€/mn)

Note: in 4Q16,CR Saluzzo became part of BPER Banca Group. 1h17 Net commissions of CR Saluzzo: 3.8 €/mn Note: figures in this page may not add exactly due to rounding differences

Dividends and Trading income

Dividends and Trading income (€/mn)

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

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

• •Dividends and trading income at 61.7 €/mn down by 16.1% y/y
• • Trading income at 50.5 €/mn in 1H17 vs 64.7 €/mn in 1H16 including one-off items as detailed in the box below (€ 56.7 €/mn vs 34.5 €/mn up by +64.2% y/y excluding non recurring items)
• •Dividends: 11.1 €/mn in 1H17 (8.8 €/mn in 1H16)

Trading gains* excluding dividends (€/mn)

n.m.: Not meaningful

(*) See details on pag.26

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

Operating costs

Operating costs breakdown (€/mn; %)

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

• • Operating costs down by 1.8% y/y (-3.4% y/y on ^a like-for-like basis) benefiting from staff reduction plan and gradual completion of the projects of the Business Plan 2015-17.
• • Staff costs significantly down by 3.2% % y/y (-4.8% y/y on ^a like-forlike basis)
• • Total Group staff of 12,014 employees of which 841 from Nuova Carife); staff down by 462 employees on ^a like-forlike basis
• • Administrative expenses down by 1.2% y/y (-1.8% y/y on ^a pro-forma and ^a like-for-like basis; see table below)
• •Business Plan projects expenses down by 29.2% y/y
• •D&A up by 8.4% y/y

Operating costs breakdown (€/mn; %)

Ju 1 6 n	Ju 17 n	C hg /y ( % ) y
3 9 8. 2	3 8 5. 7	% 3. 2 -
	6. 4
3 9 8. 2	3 9. 3 7	4. 8 % -
1 6 Ju n	17 Ju n	C /y ( % ) hg y
2 0 3. 9	2 0 1.5	1. 2 % -
15 .1	10 .7	-29 .2%
2.9	2.5
	3. 4
2 0 1. 0	1 9 5. 6	2.7 % -

(1) Other items: insurance expenses related to insurance policies issued by SACE (Italian Export Credit Agency - "ECA") in favor of BPER BANCA as Confirming Bank of Documentary Credits issued by Foreign Banks or Financial Institution in favor of Italian exporters (fully recovered from customers and accounted at Caption 220), other one-off and advisory costs Note: figures in this page may not add exactly due to rounding differences

| Strettamente riservato e confidenziale Provisions, Net Provisions for Risks and Charges and Contribution to Funds

• • Total provisions up by 37.2% y/y (+105.4 €/mn):
• •Loan Loss Provisions up by 17.1% y/y (+47.1 €/mn)
• •Cost of credit at 40 bps in 2Q17 and 138 annualised (136 bps in 2016)
• • Other Provisions up by 58.2 €/mn to 65.2 €/mn, including:
  • • Net adjustments to financial AFS of 71.6 €/mn in 1H17 including non-recurring impairments of Atlante Fund (52.9 €/mn) and FITD-SV for Caricesena (8.6 €/mn)
  • • Net adjustments to other assets are positive (write-backs) for 6.4 €/mn

Loan Loss Provisions evolution (€/mn) Net Provisions for Risks and Charges (€/mn)

	Ju 1 6 n	Ju 1 7 n	C hg /y ( % ) y
C Ne Pr is ion for R is ks d ha t ov s a n rg es	2 2. 1	1 1. 6	-4 7. 6 %

• Net provisions for Risks and Charges at 11.6 €/mn in Jun.'17 down by 47.6% y/y (-10.5 €/mn y/y)

Contribution to Funds (€/mn)

	Ju 1 6 n	Ju 1 7 n	C hg /y ( % ) y
Co i bu ion Fu ds /w ¹ tr t to n n o :	1 4 5.	1 9 5.	3. 3 % +

(1) Contributions to funds accounted in 1H16 includes contribution to ordinary SRF of 15.0 €/mn, contribution to Interbank Deposit Guarantee Fund ("FITD-SV") of 11.3 €/mn and write-back from Interbank Deposit Guarantee Fund ("FITD-SV") of 11 €/mn. Contributions to funds accounted in 1H17 includes contribution to ordinary SRF of 18.0 €/mn, and write-back from Single Resolution Fund ("SRF") of 2.1 €/mn. For details see on pag. 26 and 27 Note: in 4Q16,CR Saluzzo became part of BPER Banca Group. 1H17 Loan loss provisions of CR Saluzzo: 1.7 €/mn

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

Agenda

1H17 Results

• Executive summary
• Balance sheet structure
• Profit and loss

Liquidity and capital adequacy

Final remarks

Annexes

Eligible assets and counterbalancing capacity

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

• •Counterbalancing capacity ("CBC") at 15.5 €/bn in Jun.'17 of which 3.0 €/bn unencumbered and 2.1 €/bn deposits with ECB
• •ECB exposure of 9.3 €/bn in Mar.'17 fully composed by 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%

Basel 3 Phased in regulatory capital (AIRB)

B3 Common Equity Tier 1 Ratios (%) *

	B 3 Fu l ly P ha d se
€ /m n	Ju 1 6 n	De 1 6 c	Ma 1 7 r	Ju 1 7 n
	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 4 8	4, 3 2 5	4, 3 1 0	4, 4 3 4
T I E R 1	4, 4 7 1	4, 3 6 2	4, 3 4 5	4, 4 6 9
Ow Fu ds n n	4, 8 5 7	4, 6 0 7	4, 4 0 7	3 6 3 5,
To l R W A ta	3 1, 4 8 8	3 2, 5 9 3	3 2, 8 8 3	3 3, 6 6 7
Co Eq i ty T I E R 1 Ra t io m m on u	% 1 4. 1	% 1 3. 3	% 1 3. 1	% 1 3. 2
1 T I E R Ra t io	1 4. 2 %	1 3. 4 %	1 3. 2 %	1 3. 3 %
Ow Fu ds Ra io t n n	1 5. 4 %	1 4. 6 %	1 4. 4 %	1 5. 9 %

• • CET1 ratio Fully Phased at 13.17% (13.11% in Mar.'17 and 13.27% in Dec.'16) up by 6 bps since Mar.'17 despite Nuova Carife consolidation
• • Main changes in 2Q17 vs 1Q17:
• increase of AFS reserve: c. +8 bps
• retained earning increase, intangible assets increase and others: c. +26 bps
• Increase of RWA (mainly due to Nuova Carife consolidation): c. -28 bps
• •B3 Leverage ratio Fully Phased at 6.1% one of the best vs peers

f R i t J 1 7 e q u r e m e n s a s o u n e	€ / m n	%
Cr d i is k t r e	2, 2 5 4	8 3. 6 %
Cr d i Va lua ion A d j ( C V A ) t t tm t e us en	1 6	0. 6 %
Ma ke is k t r r	6 4	2. 4 %
Op ing is ks t era r	2 8 3	1 0. 5 %
O he la ire t to ts r r eg u ry req u me n	7 9	2. 9 %
To ta l	2, 6 9 6	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

1H17 Results

• Executive summary
• Balance sheet structure
• Profit and loss
• Liquidity and capital adequacy

Final remarks

Annexes

Final remarks

• Very solid capital position with a CET1 ratio Fully Phased well above 13%, slightly up by 6 bps vs Mar.'17 despite the consolidation of Nuova Carife

CET1 Fully Phased at 13,17% (13.11% in Mar.'17 ), best in class vs peers in Italy

• • Effective NPEs management strategy: strong commitment to keep reducing bad loans and improve recoveries, while maintaining a high NPEs coverage
• • 1H17 Net profit at 119.1 €/mn impacted by significant non-recurring items2 including, among others, impairments of Atlante Fund and FITD-SV for CariCesena for a total of -61.5 €/mn and the badwill3 arising from the acquisition of Nuova Carife of +130.7 €/mn; this positive effect enabled the application of an even more conservative provisioning approach on loans with a further strong increase of coverage

Net operating income, excluding non-recurring items1, up by 2.5% y/y (+5.3% q/q)

• The Board of Directors has reviewed the Banking Group's activity in the management of doubtful loans, which over the years has led to a strong increase in coverage with provisioning that in the period 2012-2017 has exceeded € 4 billion. Having assessed the latest improvements in asset quality, also in the first half of 2017, the Board of Directors has decided to launch an extraordinary measure designed to further increase the level of coverage of doubtful loans, facilitating an immediate reduction in the net NPEs ratio, as well as the gross ratio by means of loan disposals. An extraordinary intervention on provisioning is being analysed, to be carried out at the beginning of 2018, for an amount of € 1 billion, which thanks to the large capital buffer will allow the Group to maintain a solid CET1 ratio of more than 11%. The Board of Directors has decided to postpone approval of the new business plan to the beginning of 2018 in order to complete the analysis of this important project

Agenda

1H17 Results

• Executive summary
• Balance sheet structure
• Profit and loss
• Liquidity and capital adequacy
• Final remarks

Annexes

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

I te m		Ca ( f C 2 6 2 / 2 0 0 ) t io Ba k o I ta ly Fo t; irc lar 5 p n n rm a n u	€ /m n	De ip t ion sc r
7 1 0
No n- re cu	ing i te rr	ms
	2 Q 1 7
		Pr f i fro i inv ( Ca ) t ty tm ts 2 4 0 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 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.	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
		S ( Ca ) Ne im irm d j A F 1 3 0- b t t a t. to p a en us p.	-8 4	Ca Im im ice t p a en r se na
	Q 1 1 7
		S ( Ca ) Ne im irm d j A F 1 3 0- b t t a t. to p a en us p.	-1 7. 0	Im irm A lan Fu d t t te p a en n
		( Ca ) Ne im irm d j loa 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 1 3 0- b ) 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	-7 4. 6
O he i t te r ms
	2 Q 1 7	A dm in is ive ( Ca ion b ) tra t t 1 8 0- ex p en se p	2. 1 +	W i ba k fro S ing le Re lu ion Fu d ( "S R F ") te- t r c 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 1H17 balance sheet are the following:

•Profit & Loss - Net interest and other banking income 10.3 €/mn (o/w NNI 6.5 €/mn, net commission 3.8 €/mn); operating costs 10.0 €/mn (o/w staff expenses 6.4 €/mn and other administrative expenses 3.4 €/mn), loan loss provisions 1.7 €/mn, taxes ⁺ 0.9 €/mn, net loss 0.4 €/mn.

•Assets & Liabilities - Direct funding 781 €/mn, Indirect deposits 356 €/mn, Net customer loans 585 €/mn, NPEs gross loans for 131 €/mn, NPEs Net Loans for 65 €/mn.

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

I te m		Ca t io ( Ba k o f I ta ly Fo t; C 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 rr	in i te	ms
2	g Q 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.	3 0. 2 +	S To l c i l g in fro V I A Eu d isp l ta ta ap a m ro p e os a
		Am in is ive ( Ca ion 1 8 0- b ) tra t t ex p en se p	1 1. 3 -	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 d j loa ( Ca ion d ) t a tm ts to t 1 3 0- us en ns p	1 1. 0 +	W i -b k fro In ba k De i Gu Fu d ( "F I T D- S V ") te te t tee r ac m r n p os ar an n
3	Q 1 6	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.	2. 7 +	Ca fro S i l g in V I A Eu d isp l ta p a m ro p e os a
4	Q 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
		S Ca Ne im irm d j A F ( 1 3 0- b ) t t a t. to 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 ( ion 2 6 0 ) tm ts to t us en g oo p	-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 ex p en se p	3 4. 9 -	Ex d ina i bu ion he S ing le Re lu ion Fu d ( "S R F ") tra tr t to t t or ry co n so n
		To ta l P lus	4 8. 6 +
		To ta l M in us	1 0 9. 9 -
he i 1 t te r ms	Q 1 6	A dm in is ive ( Ca ion b ) tra t t 1 8 0- ex p en se p	1 5. 0 -	Or d ina i bu ion he S ing le Re lu ion Fu d ( "S R F ") tr t to t t ry co n so n
2	Q 1 6	A dm in is ive ( Ca ion b ) tra t t 1 8 0- ex p en se p	-0 1	Or d ina i bu ion he S ing le Re lu ion Fu d ( "S R F ") tr t to t t ry co n so n
3	Q 1 6	A dm in is ive ( Ca ion 1 8 0- b ) tra t t ex p en se p	1 6 7. -	Or d ina i bu ion he De i Gu Sc he ( "D G S tr t to t ts tee ry co n p os ar an me s
4	Q 1 6	A dm in is ive ( Ca ion 1 8 0- b ) tra t t ex p en se p	0. 7 +	W i -b k fro he De i Gu Sc he ( "D G S ") te t ts tee r ac m p os ar an me s
		Pr is ins fo is ks d c ha ( Ca ion ) t 1 9 0 ov r r a n rg es p	4. 0 +	W i -b k fro So l i da i Fu d te ty r ac m r n
		O / ( Ca ) he ing ha inc ion 2 2 0 t t t r o p er a c rg es om e p	0. 8 +	fro Gu W i -b k In ba k De i Fu d Vo lou te te t tee ta r ac m r n p os ar an n n ry Sc he ( "F I T D- S V ") fo he f Ba Te t me r re sc ue o nc a rca s
		To ta l P lus	5. 5 +
		To ta l M in us	3 2. 7 -

Assets & Liabilities: reclassified balance sheet

Assets (€/mn)1

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

Liabilities & Shareholders' equity (€/mn)2

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

(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 tor s ss se c	Ju 1 7 n	% on To l ta	% vs ∆ De 1 6 c
fac Ma tur ing nu	15 7, 1	15 1 %	0. 5 % -
W ho les le d r i l s ice ies d r irs eta a an erv s, rec ove r an ep a	8 5, 1 8	1 1. 0 %	0. 4 % -
Co ion tru ct ns s	9 3, 8 4	8. 2 %	1. 3 % -
Re l Es tat a e	6 3, 4 1	% 7.5	2. 6 % +
O C H R E A *	5 1, 5 0	3. 2 %	1. 8 % -
Ag icu ltu for d f is h ing try r re, es an	7 1, 45	3. 1 %	+5 9 %
Ot he r	5 5, 9 9	1 2. 8 %	2. 8 % -
To ta l loa to i de t n -f ina ia l bu ine ns res n on nc s sse s	6 2 8, 6 1	6 0. 9 %	0. 5 % -
f No i de ina ia l c ies nt, n-r es no n- nc om p an	5 2 0	0. 4 %	45 1 % +
To ta l loa to f ina ia l bu ine ns no n- nc s sse s	1 2 8, 8 2	6 1. 3 %	3. 7 % +
Ho ho l ds us e	4 1 2, 5 9	2 6. 8 %	9. 3 % +
To l loa f ina ia l bu ine ta to ns nc s ss es	2 5, 5 8	1 1. 9 %	9. 8 % +
To ta l Cu tom Lo s er s an s	7 4 6, 9 9	1 0 0. 0 %	3. 3 % +

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

(1) Commercial banks + Sarda Leasing (excluding non resident loans) Note: figures from data management system

Asset quality breakdown

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

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

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

Bonds maturities and issues details

Jun 16 Dec 16 Jun 17 Chg YTD (%) Chg Y/Y (%) Wholesale bonds 2.7 2.7 3.0 +11.1% +11.1% o/w covered bonds 2.5 2.5 2.5 +0.0% +0.0%o/w subordinated bonds 0.2 0.2 0.5 +150.0% +150.0% Retail bonds 3.4 3.9 3.0 -11.8% -23.1%o/w subordinated bonds 0.5 0.5 0.4 -20.0% -20.0%Total bonds 6.1 6.6 6.0 -1.6%-9.1%

Bonds issued (€/bn)

2017 Bonds maturities (€/bn)

Outstanding bonds (€/bn)

Bonds maturities breakdown (€/bn)

Note: figures in this page: 1) are shown as per nominal values excluding Table «Bonds stock» reported as per Financial report values and 2) may not add exactly due to rounding differences

Financial Assets details

Govies & Supranational PTF by issuing country (€/bn)* Italian Govies PTF by accounting valuation (€/bn)*

Italian Govies PTF by coupon (€/bn)*

Italian Govies PTF Maturities1 (€/bn)*

(1) Figures are shown as per nominal values

*: figures 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 Nuova Carifeacquisition 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)

6 co De 1 c oli da ted ns	7 lik Ju 1 n e-f lik e ba or- sis	YT ) lik D C hg ( % e-f lik e ba or- sis	Nu a Ca ov i fe r	Ju 1 7 co n oli da ted ns	C ( % ) YT D hg oli da ted co ns
4 7, 7 4 8	4 6, 5 8 6	2. 4 % -	2, 0 4 2	4 8, 6 2 8	1. 8 % +
3 2, 8 1 7	3 3, 4 2 8	1. % 7 +	1, 4 0 5	3 4, 8 3 3	6. 0 % +
1 6, 5 8 5	1 5, 7 5 3	-5. 0 %	4 3 6	1 6, 1 8 9	2. 4 % -
1 6, 2 8 6	1 6 4 7, 7	8. 5 % +	9 7 0	1 8, 6 4 4	1 4. 5 % +
8 0, 6 1 9	8 0, 0 1 4	0. 8 % -	3, 4 4 7	8 3, 4 6 1	3. 5 % +
4, 3 0 5	4, 4 8 5	3. 1 % +	1 4 6	4, 6 3 1	6. % 5 +

Direct Funding breakdown pro-forma (€/mn)

€ /m n	6 co De 1 c oli da ted ns	7 lik Ju 1 n e-f lik or- e ba sis	D C ( % ) YT hg lik e-f lik or- e ba sis	Nu ov a Ca fe i r	Ju 1 7 n oli da ted co ns	YT D C hg ( % ) oli da ted co ns
Cu d s ig ht nt ts rre ac co un an de its p os	3 2, 3 3 1	3 1, 6 2 5	2. 2 % -	1, 6 4 4	3 3, 2 6 9	2. 9 % +
T im de its e p os	2, 2 2 0	2, 1 3 5	3. 8 % -	1 2 0	2, 2 5 5	1. 6 % +
Re ha nts p urc se ag ree me	1, 7 8 0	1, 9 3 2	8. 5 % +	0	1, 9 3 2	8. 5 % +
O he ho loa t rt-t r s erm ns	2, 5 8 2	2, 4 8 5	3. 7 % -	1 6 5	2, 6 5 1	2. 7 % +
Bo ds n	6, 1 6 5	9 8 5, 7	2. % 7 -	1 7	6, 0 5 7	1. 6 % -
ub ibe d b ins titu tion al - s scr y tom cus ers	2, 688	3, 040	1 3. 1 % +	0	3, 040	1 3. 1 % +
ub ibe d b eta il - s scr y r tom cus ers	3, 468	2, 94 7	-1 0 % 5.	71	3, 01 7	-1 3. 0 %
Ce f i ica rt tes	9 2	8 1	1 1. 8 % -	0	8 1	1 1. 8 % -
Ce i f ica f de it rt tes o p os	2, 8 8 5	2, 3 4 2	9. % 5 -	4 2	2, 3 8 4	9 % 7. -
D ire de i t c to ts c us me r p os	4 4 8 7, 7	4 6, 8 5 7	2. 4 % -	2, 0 4 2	4 8, 6 2 8	1. 8 % +

Focus Nuova Carife (2/2)

Customer loans breakdown pro-forma(€/mn)

€ /m n	6 co De 1 c oli dat ed ns	Ju 1 7 like n ke bas -fo r-li is	YT %) like D C hg ( -fo ke bas r-li is	Nu a Ca ov fe i r	Ju 1 7 co n oli dat ed ns	%) co YT D C hg ( olid ate d ns
Cu nt ts rre ac co un	5, 3 9 2	5, 2 8 9	-1 9 %	1 3 9	5, 4 2 9	0. 7 % +
Mo loa rtg ag e ns	2 6, 4 8 8	2 7, 3 5 4	3. 3 % +	8 4 4	2 8, 1 9 8	6. 5 % +
ha Re nts p urc se ag ree me	0	1 2 1	n. m	0	1 2 1	n. m
fac Le d ing to ase s a n r	3, 3 7 3	3, 4 2 5	1. 5 % +	1 7 5	3, 6 0 0	6. 7 % +
bt De it ies se cu r	3 2 2	2 7 2	1 5. 5 % -	4	2 7 6	1 4. 4 % -
Ot he ion r tr ct an sa s	9, 9 1 9	9, 1 9 6	3 % 7. -	1 7 7	9, 3 4 7	% 5. 5 -
Ne t loa to tom ns cu s ers	4 4 9 4 5,	4 6 8 5, 5	0. 4 % +	1, 3 3 9	4 6, 9 9 7	3. 3 % +
Gr loa to tom os s ns cu s ers	5 0, 6 5 4	5 0, 9 0 3	0. 5 % +	1, 4 6 2	5 2, 3 6 5	3. 4 % +

Asset quality breakdown pro-forma

	€/mn	Dec 16 consolidated	Jun 17 like-for-like basis	YTD Chg (%) like-for-like basis	Nuova Carife	Jun 17 consolidated	YTD Chg (%) consolidate d
TOTAL LOANS	Gross	50,654	50,903	0.5%	1,462	52,365	3.4%
	Net	45,494	45,658	0.4%	1,339	46,997	3.3%
	Coverage (%)	10.2%	10.3%	0.1%	8.4%	10.3%	0.1%
Bad loans	Gross	7,039	7.076	0.5%	32	7,108	1.0%
	Net	3,009	2,925	$-2.8%$	6	2,932	$-2.6%$
	coverage (%)	57.25%	58.65%	1.4%	80.3%	58.8%	1.5%
Unlikely to pay loans	Gross	3,977	3,624	$-8.9%$	91	3,716	$-6.6%$
	Net	3,043	2,720	$-10.6%$	15	2,735	$-10.1%$
	coverage (%)	23.49%	24.95%	1.5%	83.1%	26.4%	2.9%
Past Due	Gross	158	169	7.5%	39	208	32.0%
	Net	145	155	6.7%	37	192	31.9%
	Coverage (%)	7.8%	8.5%	0.7%	5.2%	7.9%	0.1%
NPEs	Gross	11,174	10,869	$-2.7%$	162	11,032	$-1.3%$
	Net	6,197	5,801	$-6.4%$	58	5,859	$-5.5%$
	Coverage (%)	44.5%	46.6%	2.1%	64.0%	46.9%	2.4%
Performing loans	Gross	39,481	40,033	1.4%	1,300	41,333	4.7%
	Net	39,297	39,857	1.4%	1,280	41,138	4.7%
	Coverage (%)	0.5%	0.4%	0.0%	1.5%	0.5%	$0.0\%$

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

l ra F ina ia ios t nc	.06 30 .20 17	16 ( *) 20
l ra ( ) St ios tu t ruc ra %
loa tal /to net ns t ust ets o c om ers ass	66 .65 %	70. 03%
loa nd adv /di t d fro sits net es t ust ust ns a anc o c om ers rec epo m c om ers	6.6 9 4%	28% 95.
fin ial tal /to ets ets anc ass ass	21.2 0%	21.1 1%
fixe d a l as ts/t ota set sse s	2.13 %	2.13 %
dw ill/ al a tot ts goo sse	0.5 0%	0.5 5%
dir de its/ al a ect tot ts pos sse	86 .73%	88 .07 %
dep osi nde /in dir de its ts u ent ect r m ana gem pos	53. 52%	49 .55%
fin ial ible /ta uit ets anc ass ng eq y	2.9 2	(1 ) 2.72
al t ible ible /ta uit tot ets ang ass ng eq y	67 13.	(2 12.8 0
int erb ank len din /bo win ( in t hou ds o f Eu ro) net g rro g san	(9,0 695 ) 27,	( 8,13 867 ) 0,
ber of loy num em p ees	12,0 14	635 11,
ber of al b ank br hes ion nat num anc	82 1,2	1,20 0
f b l ( ) Pro ita i ity ios t ra %
RO E	4.9 4%	0.3 0%
RO TE	5.53 %	0.3 3%
A ( ofit tal ) RO /to net ets pr ass	0.1 7%	0.1 0%
Co st/ inc tio om e ra	61. 82%	(3 ) 60 .69 %
t ad loa loa Ne jus ns/ tm ent s to net ns t ust o c om ers	0.6 9%	0.6 3%
Bas ic E PS	8 0.2 4	0.1 35
Dil d E PS ute	8 0.2 4	0.1 35
k r (% ) Ris ati os
rfo et l ing s/n s to sto non -pe rm ex pos ure oan cu me rs	12.4 7%	62% 13.
ba d lo t lo net /ne to tom ans ans cus ers	6.2 4%	6.6 1%
like ly loa loa ns/ net to net ns t ust un pay o c om ers	82% 5.	6.6 9%
st d loa loa ns/ net net ns t ust pa ue o c om ers	0.4 1%	0.3 2%
rfo erf adj ing s/g ing ust nts to me non -pe rm ex pos ure ros s no n-p orm ex pos ure s	6.8 4 9%	44 .54 %
adj bad loa ss b ad loa ns/ ust nts to me gro ns	8.7 5 5%	57. 25%
adj like ly loa nlik ely loa ns/ ust nts to to to me un pay gro ss u pay ns	26. 8% 3	23. 49 %
adj t d loa ns/ du e lo ust nts to ast me pas ue gro ss p ans	86% 7.	80% 7.
adj for erfo min es/ ing ust nts to me per g e xpo sur gro ss p rm ex pos ure s	0.4 7%	0.4 7%
atio tex as r	107 .17%	(4 .61% 111

l ra F ina ia ios t nc	6.2 3 0.0 017	( *) 16 20
ds ( ha d ) Ow n F P in un se
( T1) Co Eq uit Tie CE mm on y r 1	69 4,5 03, 5	64 4,4 97, 5
ds Ow n F un	69 39, 5,4 5	8,0 4,9 5 45
k-w hte d a ts ( A) Ris eig RW sse	66 6, 69 33, 9	32, 593 ,23 5
l a d liq d Ca ita i ity ios t p n u ra
Co uit io ( CE io) - Ph d in Eq Rat T1 Rat mm on ase y	8% 13.3	80 13. %
io ( io) - Ph d in Tie Rat T1 Rat r 1 ase	13. 47%	89 13. %
al C ita l Ra tio ( TC tio ) - Pha sed in Tot Ra ap	16. 16%	15. 21%
io ( io) lly Pha sed Co Eq uit Tie Rat CE T1 Rat - Fu mm on y r 1	13. 17%	13. 27%
io - Ph d in Lev Rat era ge ase	6.2 %	6.7 %
lly Pha sed Lev Rat io - Fu era ge	6.1 %	6.5 %
Liq uid ity Co tio ( LC R) Ra ver age	130 .1%	102 .0%
abl din io ( FR) Ne t St e F Rat NS un g	n.d	104 .3%
f ina ia l ra ios No t n- nc	6.2 3 0.0 017	( *) 16 20
du Pro iv ity ios t t ( ho nd f E ) in t c ra usa s o uro
dir de loy sits ect po pe r em p ee	65 4,0 47.	82 03. 4,1
loa and ad loy to sto ns van ces cu me rs p er e mp ee	11.8 3,9 3	3,9 10. 11
ed loy ets ass ma nag per em p ee	83 1,5 51.	1,39 9.7 5
ad ed loy mi nis ets ter ass per em p ee	1,3 47. 55	1,4 25. 44
loy cor e re ven ues pe r em p ee	6 3 77.	82. 83
nd oth er b ank loy int ing inc net st a ere om e p er e mp ee	82 .49	89 .25
tin loy ost op era g c s p er e mp ee	52. 51	31 57.
(*) F urth o th f ba lanc e sh data 1 D mbe er t stat nt o eet at 3 r 20 16 s e re eme as ece ome pe valu es f or t he Inco Sta tem ent thos t 30 Ju ne 2 016 , wi th th tion of me are e a e ex cep bas is. (1) Tan gibl quit tota l sh hold ' eq uity t of inta ngib le a ts e e y = are ers ne sse (2) Tota l tan gibl otal of in ible sets = t ets net tang sets e as ass as t/inc (3) The Ra tio h as b lcul ate d on the ba sis of th e la t of the recl cos ome een ca you ass inco me) . W hen cal cula ted the bas is o f the lay vide d by Cir cula . 26 outs on pro r no	rfor atio lues man ce r va we re r eca RO E a nd RO TE whi ch a how re s ified inc sta tem ent (op ting ome era 2 o f the Ba nk o f Ita ly th st/in e co	lcul d. T he c aris ate omp uali zed n on an ann es/o atin exp ens per tio i t 63 .65 com e ra s a
(64 Jun ). .21 % a s at e, 2 016 (4) The atio is c alcu late d as the rel atio nsh ip b al g erfo rmin g lo tex etw tot as r een ross no n-p incr ed b tal p rovi sion s fo erfo rmin g lo y to eas r no n-p ans (5) (6) The rat io is lcul ate d a rdin g to the visi of Reg ulat ion (EU ) 57 5/2 013 (C ca cco pro ons	d ne gibl quit y, in t tan ans an e e RR) end ed b y th e C , as am omm	clud ing min ority int ere issi Del ted on ega

(7) The NSFR, not yet available, it is in any case estimated to exceed 100%, (106.6 % as at 31 March 2017)

(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 60,982 thousand at 30 June 2017 and Euro 59,304 thousand at 30 June 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 June 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) for Euro 16 thousand, representing only the amount required of Bper (Europe) International s.a. for the half-year.

Note that the comparative figures at 30 June 2016 have been restated compared with those included in the consolidated financial report at 30 June 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

Alessandro Simonazzi Head of Planning & Control Via San Carlo, 8/20 41121 Modena - Italy Ph. +39 059 2022014e-mail: alessandro.simonazzi@bper.it