Bper Banca — Investor Presentation 2021

Nov 5, 2021

9M21 Consolidated Results

Piero Luigi Montani, CEO5November 2021

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 Bonfatti

Manager responsible for preparing the Company's financial reports

BPER Banca S.p.A., head office in Modena, via San Carlo, 8/20 - Tax Code and Modena Companies Register no. 01153230360 – Company belonging to the BPER BANCA GROUP VAT, VAT no. 03830780361 – Share capital Euro 2,100,435,182.40 - ABI Code 5387.6 - Register of Banks no. 4932 - Member of the Interbank Deposit Guarantee Fund and of the National Guarantee Fund - Parent Company of the BPER Banca S.p.A. Banking Group - Register of Banking Groups no. 5387.6 - Tel. 059.2021111 - Telefax 059.2022033 - e-mail: servizio.clienti@bper.it - Certified e-mail (PEC): bper@pec.gruppobper.it - bper.it – istituzionale.bper.it.

Importantmethodological note

Change in the scope of consolidation and Purchase Price Allocation

Change in the scope of consolidation

During the first 9M of ²⁰²¹ BPER Banca completed the integration of the going concern consisting in ⁶²⁰ branches¹ acquired fromthe Intesa Sanpaolo Group (ISP). The transfer of these branches took effect for legal and accounting purposes on two different dates: ⁵⁸⁷ former UBI Banca branches were integrated on ²² February ²⁰²¹ and ³³ ISP branches were integrated on ²¹ June 2021. The assets and liabilities of these units have thereby been included in the scope of consolidation with pro-rata P&L contribution effective as of the same dates.

As ^a result, the accounting figures as at ³⁰ September ²⁰²¹ are not comparable with prior periods due to the change in the scope of consolidation.

Purchase Price Allocation (PPA)

9M21 results include the impact of the PPA carried out following the first accounting for the acquisition of the going concern, in accordance with IFRS ³ "Business Combinations". The difference between net equity and the purchase price attributable to the business unit acquired ("Badwill" or "Bargain Purchase") amounted to 966.9 €mln. The allocation process through the measurement at fair value of the assets and liabilities acquired as at the initial recognition date, led to the following main PPA adjustments:

• •-337.5 €mln on non-performing loans (in lower NPL fair value than the carrying amount acquired);
• •+234.1 €mln on performing loans (in higher performing loan fair value than the carrying amount acquired);
• •-37.1 €mln on real estates properties (in book value writedowns on properties);
• •-8.8 €mln on provisions for Risk and Charges.

As ^a result of the PPA, ^a Bargain Purchase amount of 817.7 €mln was booked in the 9M21 P&L.

1. Including the Points of Operation of UBISS (a consortium company controlled by UBI Banca).

Agenda

BPER GROUP CONSOLIDATED RESULTS

Executive summary

Balance sheet structure

Profit and loss

Capital adequacy

Final remarks

ANNEXES

Executive summary

CONTINUED GROWTH IN CORE BUSINESS PROFITABILITY, COMBINED WITH A SIGNIFICANT IMPROVEMENT IN CREDIT QUALITY AND A SOUND CAPITAL POSITION

f b l i i i P t t r o a y	f f ln lu d f fs f d ln M i 8 6. € Ex in M i in € 1, t t t t t • 9 21 ne p ro o 5 2 m c g o ne -o 9 21 p re ax p ro c re a s e o 4 17 .1 m f f f i ln in ln in b k in ha Q 84 € 8 € t t t t 3 21 ne p ro o m a e r p ay g 0. 0 m a n g sy s e m c rg e s • .4 , l d f k le b ( lu d d d l ) he b k f la ly h is is in i io ic iv A L L Ps t t t t t t t t t • nn u a e c o s o r s e s a 7 0 p s ex c g a na o n a c o a p a r u r c o ns e rv a e a p p ro a c o is io in p ro v n g
l V o u m e s	l le f l la h fr he d io ia io i in ire Ex t t t t t t t • c e n re e n n o c o m m e rc re ns w cu s o m e rs o m g o g c o nc e rn a c q u d l fe f lo S in in i in in in Q A U M t ro ng c re a s e a n su ra nc e w s 3 21 • d in ia lo b (- ). d lo in d b O M € Q / Q S 6. € t t t t t t t t t t s a n g o ra o r o n a n p ay m e n s a m ou n o 3. 0 n 2% a e- g a ra n e e a ns c re a s e o 9 n • u 7. u ( ) 6. Q Q / + 3 %
A t s s e l i Q t u a y	d d fu he d ly ( d ) G io in Q 6 iv 8 in Q Ne N P E t t t t t ro s s a n ra ow n r r 3 21 o 5. 5 % a n 2. % re s p e c e 5. 7 % a n 2. % 2 21 • N P E 8 in Q • c ov e ra g e: 5 5. 3 % u p vs 5 1. % 2 21 f fo f f d l d b by he d ( b ln lre dy le d ) N P E is irm G B V € € in M t t t t t p o s a a rg e c o n e r a o a p p ro n e n o 20 21 a ou 0 0 m a a c o m p e 9 21 • x. 1 7
i l d C t a p a a n l d i i i t q u y	fo l ly ha d h la bu f fe f io i ire Pr Fu P C E T1 S R E P 8. 2 t t t t o- rm a s e ra a 13 % a rg e r vs re q m e n o 12 % • .7 w u 5 ha he la hr ho l d. l l b L C R ic N S F R t tw t t t • >2 0 0 % m o re n e 10 0 % re g u o ry e s w e a ov e 10 0 %

1. See slide 16.

Agenda

BPER GROUP CONSOLIDATED RESULTS

Executive summary

Balance sheet structure

Profit and loss

Capital adequacy

Final remarks

ANNEXES

Direct funding

Direct funding at 97.9 €bn, of which 89.6 €bn in core deposits at marginal cost

Direct Funding breakdown (€mln)

€ /m ln	De 2 0 c	Ju 2 1 n	Se 2 1 p	C hg Q Q / ( % )	C hg Y T D ( % )
Cu D ire De i to t ts s me r c p os	9, 0 5 5 5	9 9 9 4, 5	9 3, 9 6 4	0. 7 % -	9 5 7. % +
/w C / A d s ig h de i t ts o an p os	5 5, 1 1 6	9 0, 1 0 3	8 9, 5 5 3	0. 6 % -	6 2. 5 % +
/w Bo ds o n	8 2 0	6 3 6	6 2 8	1. 3 % -	2 3. 5 % -
/w O he t o r	3, 5 6 9	3, 8 5 9	3, 7 8 3	2. 0 % -	6. 0 % +
Ins i ion l D ire fu d ing t tu t t a c n	3, 6 3 5	3, 8 9 9	3, 9 5 4	1. 4 % +	8. 8 % +
To l D ire De i ta t ts c p os	6 3, 1 4 1	9 8, 4 9 8	9 7, 9 1 8	0. 6 % -	5 5. 1 % +

Direct Funding, quarterly trend (€bn)

• •Deposit reduction in 3Q21 (-0.6% Q/Q) was driven by commercial actions to reduce excess liquidity
• •Institutional funding totals 4.0 €bn substantially in line with 2Q21

Indirectdeposits

Total indirect deposits increased to 166.2 €bn thanks to effective commercial activity

€ /m ln	De 2 0 c	Ju 2 1 n	Se 2 1 p	C hg Q / Q ( ) %	C hg Y T D ( ) %
As de dy ts to se un r c us	7 2, 0 5 7	8 2, 9 9 5	8 3, 0 3 1	0. 0 % +	1 5. 2 % +
As de ts t se un r m an ag em en	2 5, 2 7 4	4 4, 9 4 4	4 5, 5 0 2	1. 2 % +	8 0. 0 % +
fe L i Ins ura nc e	7, 3 0 1	1 8, 8 9 3	1 9, 2 0 0	1. 6 % +	1 6 3. 0 % +
A U M Ar Ho l d ing ca -	1 7, 4 4 5	1 8, 2 4 7	1 8, 4 3 5	1. 0 % +	5. 7 % +
To l in d ire de i ta t ts c p os	1 2 2, 0 7 7	1 6 5, 0 7 9	1 6 6, 1 6 7	0. 7 % +	3 6. 1 % +

• • Increase in indirect deposits mainly concentrated in AUM and bancassurance
• • Volumes continued to growth in 3Q21 (+0.7% Q/Q) underpinned by AUM and life insurance inflows rising to ⁹⁴¹ €mln, almost doubling the 2Q21 level (513 €mln), despite the usual seasonality of the quarter

Indirect Deposits quarterly trend (€bn) Indirect Deposits (€mln)

New perimeter: BPER+ going concern

Net inflows¹ of AuM and Life Insurance products (€mln)

1. Figures from data management system. AUM include ARCA captive inflows on BPER network

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

Customerloans

Net customer loans at 76.5 €bn

€ /m ln	De 2 0 c	Ju 2 1 n	Se 2 1 p	C Q Q hg / ( ) %	C hg Y T D ( ) %
Cu Ac t ts rre n co un	3, 6 6 9	4, 7 6 6	4, 9 3 5	3. 6 % +	3 4. 5 % +
Mo loa tg r ag e ns	3 5, 3 5 5	5 3, 3 5 6	5 3, 1 8 9	-0. 3 %	5 0. 4 % +
O he t r	1 3, 9 8 2	1 8, 1 6 8	1 8, 3 5 8	1. 0 % +	3 1. 3 % +
Ne loa t c to us me r ns	3, 0 0 6 5	6, 2 9 0 7	6, 8 3 7 4	0. 3 % +	3 4 4. % +
for /w Pe ing o r m	5 0, 8 7 6	7 4, 1 3 8	7 4, 5 2 5	0. 5 % +	4 6. 5 % +
/w No Pe for ing o n- r m	2, 1 3 0	2, 1 5 3	1, 9 5 8	9. 1 % -	8. 1 % -

Net customer loans breakdown (€mln) Net customer loans, quarterly trend (€bn)

• •Performing loans up 0.5% Q/Q also underpinned by State guaranteed loans
• • Loan demand, still weighed down by excess liquidity gathered by corporate clients in the previous months, is expected to accelerate starting from 4Q21

Note:

• •Customer loans excluding debt securities. See relevant table in the Annexes.
• •Figures on this page may not add exactly due to rounding differences.

Loanpayment moratoria and State guaranteed loans Balance sheet structure

Loan payment moratoria declined further in 3Q21 (-7.2% Q/Q), while State guaranteed loans were up 6.3% Q/Q

Loan paymen^t Moratoria (€bn) State guaranteed loans (€bn)

• • Active loan payment moratoria amount to 3.0 €bn, down 7.2% vs. 2Q 21 and 62.8% vs. 1Q 21, confirming the ongoing improvement of the economic environment.
• •76% of active moratoria are classified in the low risk range of internal credit ratings
• •Very low default rate on expired moratoria (around 1.3%)

1 Breakdown by loan size: 60% >€30K, 32% <€30k, 8% SACE (large corporate exposures)

Asset Quality(1/3)

Asset quality keeps improving with steady reduction in NPE ratios and further strengthening of coverage levels

	De 2 0 c	Ma 2 1 r	Ju 2 1 n	Se 2 t 1 p
Ba d Lo an s
Gr os s	2, 0 6 7	2, 3 6 8	2, 3 4 1	2, 3 0 5
Ne t	7 2 7	9 9 8	9 1 6	8 7 0
Co ve rag e	6 5. 0 %	5 7. 8 %	6 0. 9 %	6 3. 0 %
U T Ps
Gr os s	2, 1 2 5	2, 2 8 0	1, 9 9 4	1, 8 7 3
Ne t	1, 2 9 4	1, 3 1 7	1, 1 3 5	9 6 6
Co ve rag e	3 9. 1 %	4 2. 2 %	4 3. 1 %	4 8. 4 %
Pa Du t s e
Gr os s	1 4 1	1 3 0	1 3 5	1 6 0
Ne t	1 1 0	9 6	1 0 1	1 2 2
Co ve rag e	2 2. 4 %	2 6. 1 %	2 4. 9 %	2 3. 9 %
To l N P E ta
Gr os s	3 3 4, 4	8 4, 7 7	0 4, 4 7	3 8 3 4,
Ne t	2, 1 3 0	2, 4 1 2	2, 1 5 3	1, 9 5 8
Co ve ra g e	5 1. 0 %	4 9. 5 %	5 1. 8 %	5 5. 3 %
Pe fo ing loa r rm ns
Gr os s	5 1, 0 4 8	7 3, 3 3 9	7 4, 5 8 3	7 4, 9 6 6
Ne t	5 0, 8 7 6	7 2, 9 5 6	7 4, 1 3 8	7 4, 5 2 5
Co ve ra g e	0. 3 %	0. 5 %	0. 6 %	0. 6 %

Loan book breakdown: stock and coverage (€mln; %)

NPE stock and NPE ratios over time (€bn; %)

• • Gross NPE ratio of 5.5% (2.6% net) significantly reduced during 9M21, as result of the going concern contribution and effective deriskingstrategy
• • NPE coverage ratio up Q/Q to 55.3% (+350bps). In particular: Bad Loans at 63.0% (+210bps) and UTPs at 48.4% (+539bps)
• •Performing loan coverage up to 0.6% vs. 0.5% in 1Q21 and 0.3% at end-2020
• • NPE disposal target of 1 €bn GBV by 2021 confirmed, of which 0.7 €bn already finalised in 9M21

11

Asset Quality(2/3)

Stage 2 net loans stock of 9.6 €bn (stable at 12.9% of Group's performing loans) with coverage at 3.0%

Stock of stage 2 net loans, quarterly trend (€bn) Coverage of stage 2 net loans, quarterly trend (%)

AsseBalance sheet structure ^t quality (3/3)

1. Source: management data. Note: All ratios are calculated on gross exposures. * Annualised

Financial assetsportfolio

Financial assets portfolio of 27.4 €bn up by 2.8 €bn YTD

€ /m n	F V T P L	F V O C I	A C	To l ta	% l to ta on
Bo ds n	3 1 5	6, 1 2 2	2 1 9, 9 6	9 2 6, 3 9	9 6. 2 %
1 I l ian ta o g ov .w.	1 2 3	3 5 2	7, 9 4 7	8, 4 2 3	3 0. 7 %
Eq i ty u	1 0 0	2 2 5		2 3 5	1. 3 %
S Fu ds d ica n an v	3 5 5			3 5 5	1. 9 %
O he * t r	1 5 5			1 5 5	0. 6 %
To l a 3 0. 0 9. 2 0 2 ta t 1 s a	1, 1 0 4	6, 3 7 5	1 9, 9 6 2	2 7, 4 4 1	1 0 0. 0 %
To l a 3 1. 1 2. 2 0 2 0 ta t s a	1, 1 7 2	6, 2 7 0	1 7, 2 2 0	2 4, 6 6 2
C hg De '2 0 ( % ) vs c.	-5 8 %	1. 7 % +	1 5. 9 % +	1 1. 3 % +

Share of Italian bonds¹ (%)

Balance sheet structure

• •Italian government bonds at 8.4 €bn (vs. 7.8 €bn in Dec.'20)
• • Italian Bond portfolio accounts for:
• 40.7% of Total Bond portfolio
• 8.0% of Total Assets

• • Total bonds and Italian government bond portfolios duration2of 2.4 ys and 3.0 ys respectively

• 1. Source: management data.
• 1. Duration in years taking hedging into account.
• Note: figures on this page may not add exactly due to rounding differences.

* Mainly derivatives.

Agenda

BPER GROUP CONSOLIDATED RESULTS

Executive summary

Balance sheet structure

Profit and loss

• Capital adequacy
• Final remarks
• ANNEXES

Profit & Loss

• •9M21 results of 586.2 €mln affected by non-recurring items
• •Excluding one-offs, profit before tax totals 417.1 €mln

	Q ua	ly te tre r r	d n	l d An tre nu a n
( € /m ln )	1 Q 2 1	2 Q 2 1	3 Q 2 1	9 M 2 0	9 M 2 1
Ne int inc t t ere s om e	3 4 3. 5	3 8 4. 8	3 9 1. 1	9 2 6. 9	1, 1 1 9. 4
Ne iss ion inc t c om m om e	3 2 8. 1	4 0 5. 8	4 3 8. 5	7 9 1. 6	1, 1 7 2. 4
Co Inc re om e	6 7 1. 6	7 9 0. 6	8 2 9. 5	1, 7 1 8. 6	2, 2 9 1. 8
D iv i de ds n	1. 7	1 2. 3	0. 7	1 7. 4	1 4. 6
Ne inc fro f ina ia l a iv it ies t t om e m nc c	6. 2 7	4 3. 5	2. 9 5	9 6 5.	1 2. 6 7 1
O he ing / inc t t r o p era ex p en se s om e	8. 1	5. 6 -	9. 2	3 2. 0	1 1. 7 2
Op ing Inc t er a om e	7 5 7. 7	8 0. 4 7	8 9 2. 4	8 6 3. 1, 5	2, 9 0. 8 4
S f f c ta ts os	-3 0 2. 1	3 1 5 5. -	3 1 3. 8 -	2 1. 3 7 -	9 1. 0 7 3 -
O he dm in is ive t tra t r a ex p en se s	1 8 9. 9 -	1 5 7. 4 -	1 5 1. 1 -	3 5 1. 6 -	4 9 8. 4 4 -
De ia ion & Am iza ion t t t p rec s or s	5 4. 5 -	5 2. 5 -	5 2. 8 -	1 2 2. 1 -	1 5 9. 8 5 -
Op ing t ts er a co s	-5 4 6. 5	5 6 5. 0 -	5 1 7. 8 -	1, 1 9 5. 0 -	1, 6 2 9. 2 -
Op Ne ing Inc t t er a om e	2 1 1. 2	2 7 5. 8	3 7 4. 6	6 6 8. 5	8 6 1. 6
Ne im irm los fo d it r is k t t p a en se s r c re	8. 8 4 1 -	6 1 5 7. -	3 8. 8 1 -	0 6. 3 4 -	2 6 7 1 5. -
Op ing Inc f L L Ps t t o er a om e n e	2 0 7. 6 -	1 1 8. 2	2 3 5. 8	2 6 2. 2	1 4 6. 4
Ne is ion for is ks d c ha t p rov s r an rg es	4 0. 9 -	9. 6 -	4. 5 -	3 0. 0 -	7 5 5. 0 -
Co i bu ion Fu ds ( S R F, D G S, F I T D- S V ) ntr t to n	3 1. 1 -	1 5. 1 -	-8 0. 0	6 4. 7 -	8 1 2 6. 1 -
Ga in ( Lo ) Inv tm ts ss es on es en	2 5 0. 7 -	2. 6 -	2. 6 -	1 0. 0 -	2 5 5. 9 9 -
Ga in ba in ha on a rg a p urc se	1, 0 7 7. 9	7 2. 1	2 2. 1 -	0	1, 1 2 7. 8 10
Pr f it ( los ) be fo tax o s re es	6 5 4 7.	6 2. 9 1	2 6. 6 1	1 5 7. 5	8 3 7. 1
Ta xe s	-1 4 0. 8	5 0. 9 -	3 4. 3 -	6 1. 0	2 2 6. 0 -
Pr f it ( Lo ) fo he io d r t o ss p er	4 0 6. 8	1 1 2. 0	9 2. 3	2 1 8. 5	6 1 1. 1
M ino ity Int ts r ere s	-6. 5	1 0. 5 -	7. 8 -	1 9. 4 -	2 4. 9 -
Pr f it ( los ) fo he io d p in ing he r t ta to t o s p er er t c p ar en om p an y	4 0 0. 3	1 0 1. 5	8 4. 4	1 9 9. 1	5 8 6. 2

excluding one-off items

Note:

• 1. As per contractual provisions with Intesa Sanpaolo. The item has a neutral impact on the net result as it was offset by -€310.2 mln recognised as Taxes
• For a more consistent representation of the Group's Accounting Policies, 9M20 figures have been restated to take into account the reclassification of 16.8 €mln from "Net Interest Income" to "Net commission income"
• Figures on this page may not add exactly due to rounding differences.
• 9M20 figures in this slide and the following section have been restated to factor in the effects of the retrospective application of the change in the accounting method used to measure property, plant and equipment held for investment.

•

Operating income reached 2,490.8 €mln in 9M21 driven by core income growth

Operating Income over time (€mln)

Operating Income

Core Income (NII + Net Commissions)Trading and Other income

• Operating income totalled 892.4 €mln in 3Q²¹ (+6.1% Q/Q), with 829.5 €mln accounted for by core income (NII ⁺ Net Commissions) which was up 4.9% Q/Q, benefitting fromboth strong commercial performance and the quarterly full-scale contribution of the going concern acquired
• • Net Commissions share of core income rose to 53% in 3Q21 from 45% in 3Q20

Net InterestIncome

9M21 NII at 1,119.4 €mln of which 980.7 €mln from commercial activity with customers

Net Interest Income¹ breakdown (€mln)

€ /m ln	9 M 2 1	/w o 1 Q 2 1	/w o 2 Q 2 1	/w o 3 Q 2 1	C hg Q Q / %
Co ia l N I I m m er c	9 8 0. 7	2 9 1. 7	3 4 0. 5	3 4 8. 5	2. 4 %
Se i ies fo l io t t cu r p or	8 0. 7	2 9. 0	2 6. 6	2 5. 1	-5 6 %
2 T L T R O -I I I	8 0. 9	3 1. 8	2 0 5.	2 4. 1	-3 3 %
O he Ins i ion l fu d ing t t tu t r a n	-3 3. 7	-1 2. 2	-1 0. 1	-1 1. 3	1 1. 2 %
O d in N I I r a ry	1, 1 0 8. 6	3 4 0. 2	3 8 1. 9	3 8 6. 5	1. 2 %
S S I F R 9 d I F R 1 6 an	1 0. 8	3. 3	2. 9	4. 6	8. 3 5 %
To l N I I t a	9. 1, 1 1 4	3 3. 4 5	3 8 8 4.	3 9 1. 1	6 1. %

• • NII in 3Q21 up to 391.1 €mln (+1.6% Q/Q), also benefitting fromthe contribution of the ISP branches integrated at the end of June '21
• • TLTRO-III contribution (including the impact of excess liquidity held at the ECB's deposit facility) in 3Q21 totalled 24.1 €mln and is expected to ^pick up in the next quarters
• • Margin pressure (mainly due to excess liquidity) expected to be offset by ^a step-up in lending volumes starting from 4Q21, driven by the ongoing economic recovery

Net Interest Income quarterly trend¹ (€mln)

Profit and Loss

1. For a more consistent representation of the Group's Accounting Policies, 2020 quarterly figures were restated to take into account reclassifications made between NII and Net commission income. In particular NII was adjusted as follows: -5.2 €mln in 3Q20, +16.8mln in 4Q 20

2. Net of interest expenses related to excess liquidity held at the ECB's deposit facility

3. Management data. Spread calculated by taking into account funding and deposits available at ECB

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

1. For a more consistent representation of the Group's Accounting Policies, 2020 quarterly figures were restated to take into account reclassifications made between NII and Net commission

income. In particular Net commission income was adjusted as follows: +5.2 €mln in 3Q20, -16.8 €mln in 4Q20Note: The breakdown between life and non-life bancassurance is based on operational data

Net commissionincome

9M21 Net commission income reached 1,172.4 €mln, driven by growth in indirect deposits and bancassurance in addition to the going concern contribution

Net Commission Income over time¹ (€mln)

• 150.5 154.8 184.3 223.1 235.4 110.8 114.7 136.3172.3 183.1 6.0 11.4 7.610.520.0267.3 280.9 328.1405.8438.53Q20 4Q20 1Q21 2Q21 3Q21Banking Services Indirect deposits & Life Bancassurance Non-Life Bancassurance +8.0%
• • 3Q21 net commissions up to 438.5 €mln (+8.0% Q/Q), mainly benefitting fromincreasing AUM and bancassurance net inflows, despite usual seasonality of the quarter
• The uptrend in traditional banking fees continued in 3Q21 (+5.5% Q/Q), driven by the ongoing rebound in the Italian economy

Profit and Loss

Trading incomeand Dividends

Trading income increased to 172.6 €mln in 9M21, as it benefitted from positive market performance and capital gains on securities disposals

Trading income over time (€mln)

Operating costs

Profit and Loss

9M21 operating costs totalled 1.6 €bn, impacted by 102.7 €mln in one-off charges mainly associated with the going concern integration process

Operating costs breakdown (€mln)

	M 9 2 1	/w o 1 Q 2 1	/w o 2 Q 2 1	/w o 3 Q 2 1	C hg Q / Q %
S f f e t a xp e ns e s	9 7 1. 0	3 0 2. 1	3 5 5. 1	3 1 3. 8	-1 1. 6 %
/w Ex d ina tra o or ry	1 8. 0	7. 6	8. 8	1. 5	8 2. 7 % -
/w Or d ina o ry	9 5 3. 0	2 9 4. 5	3 4 6. 2	3 1 2. 3	9. 8 % -
O he d in is t t r a m r. ex p e ns e s	9 8. 4 4	1 8 9. 9	1 5 7. 4	1 5 1. 1	0 -4 %
/w Ex d ina tra o or ry	7 5. 8	6 2. 6	7. 9	5. 3	3 2. 9 % -
Or /w d ina o ry	4 2 2. 6	1 2 7. 3	1 4 9. 5	1 4 5. 8	2. 5 % -
D & A	1 5 9. 8	5 4. 5	5 2. 5	5 2. 8	0. 6 % +
/w Ex d ina tra o or ry	8. 9	8. 9	0. 0	0. 0	n.s
/w Or d ina o ry	1 5 0. 9	4 5. 6	5 2. 5	5 2. 8	0. 6 % +
To l O in C t t t a p e ra g o s s	1, 6 2 9. 2	5 4 6. 5	5 6 5. 0	5 1 7. 8	-8 4 %
/w d ina tra o ex or ry	1 0 2. 7	7 9. 1	1 6. 7	6. 8	-5 9. 2 %
/w d ina o o r ry	1, 5 2 6. 5	4 6 7. 3	5 4 8. 2	5 1 1. 0	-6. 8 %

Operating costs over time¹ (€mln)

• • 3Q21 operating costs amounted to 517.8 €mln down 8.4% Q/Q, following the reduction in staff expenses (-11.6% Q/Q) which benefitted from the usual seasonality of the quarter

• • Work force optimisation process launched in 3Q21. Due for completion by 2024, it envisages the exit of approximately 1,700 employees and a hiring plan

• The 2020 quarterly data on Operating Costs were restated following the adoption of a different accounting methodology for the evaluation of real estate assets, which had an impact on the item "D&A".

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

Provisionsand other items

The 9M21 annualised cost of risk (excluding additional LLPs) is 70 bps and reflects a very conservative approach to provisioning

	9 M 2 1	/w o Q 1 2 1	/w o Q 2 2 1	/w o Q 3 2 1	C hg Q / Q %
To l Pro is ion ta v s	7 1 5. 2	4 1 8. 8	1 5 7. 6	1 3 8. 8	-1 1. 9 %
/w L L Ps ** o	7 1 4. 1	4 1 7. 7	1 5 9. 2	1 3 7. 2	1 3. 9 % -
for C Ne Pro is ion R is ks d ha t v s an rg es	5 5. 0	4 0. 9	9. 6	4. 5	-5 2. 8 %
Co i bu ion S R F, D G S e F I T D- S V ntr t s t o	1 2 6. 1	3 1. 1	1 1 5.	8 0. 0	4 2 9. 3 % +
Ga in ( Lo ) ity inv tm ts, ss es on eq u es en d isp l inv tm ts os a es en	25 5. 9	25 0. 7	2. 6	2. 6	0. 1 % +
Ba dw i l l	-1, 1 27 8	-1, 0 7 7. 9	7 2. 1 -	2 2. 1	-1 3 0. 6 %

Provisions and other items (€mln) LLPs (€mln) and Cost of credit* (%) over time

• • LLPs at 715.2 €mln, including 310 €mln additional provisions driven by the adoption of a very conservative approach, despite no evidence of a significant deterioration in the asset quality
• • In 3Q21 Italian banking system charges related to the DGS annual contribution, totalled 80.0 €mln, on an uptrend since 3Q20, due to the expanded deposit base following the going concern acquisition

* Excluding customer debt securities. ** Item 130 a) of the Income statement.

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

Agenda

BPER GROUP CONSOLIDATED RESULTS

Executive summary

Balance sheet structure

Profit and loss

Capital adequacy

Final remarks

ANNEXES

Capital

Capital adequacy

High capital position with a proforma Fully Phased CET1 at 13.68% well above the SREP requirement (8.125%)

Note: The pro-forma CET1 ratio Fully Phased has been estimated excluding the effects of the transitional arrangements in force and including the result for the period, thus simulating, in advance, the effects of the ECB's authorisation to include these profits in Own Funds pursuant to art. 26, para. ² of the CRR

*Including RWA dynamic and other residual effetcs

Agenda

BPER GROUP CONSOLIDATED RESULTS

Executive summary

Balance sheet structure

Profit and loss

Capital adequacy

Final remarks

ANNEXES

Increase in overall profitability after going concern integration, coupled with improved risk profile and a strong capital position

f b f i 9 M 2 1 P t t r o e o r e a x l d f f i e x c u n g o n e- o s l 4 1 7. 1 € m n	i G N P E t r o s s r a o % 5. 5	l l h d i F P C E T 1 t u y a s e r a o 1 3. % 7
-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------	-------------------------------------------------------------------------------	-----------------------------------------------------------------------------------------------------------------------

Increase in operating profitability underpinned by net commissions growth and positive commercial performance

Major reductionin NPE ratio, expected to decline further on the back of ongoing derisking

Strong capital position ^gives roomto increase shareholder payou^t

The strong results achieved in profitability, asset quality and capital position combined with an enhanced competitive edge, pave the way for the Group's new 2022-2024 Business Plan, whose strategic guidelines will support a new phase of growth for the BPER Group

Agenda

BPER GROUP CONSOLIDATED RESULTS

Executive summary

Balance sheet structure

Profit and loss

Capital adequacy

Final remarks

ANNEXES

Total funding

Annexes

Total funding reached 264.1 €bn (+43% YTD), and is mainly accounted for by Indirect Deposits (166.2 €bn)

Total Funding breakdown (€mln)

To l Fu d ing ta n	De 2 0 c	Ju 2 1 n	Se 2 1 p	C hg Q / Q ( ) %	C hg Y T D ( ) %
D ire De i t ts c p os	6 3, 1 4 1	9 8, 4 9 8	9 9 1 8 7,	0. 6 % -	1 5 5. % +
1 In d ire De i t ts c p os	1 2 2, 0 7 7	1 6 5, 0 7 9	1 6 6, 1 6 7	0. 7 % +	3 6. 1 % +
To l Fu d ing ta n	1 8 5, 2 1 8	2 6 3, 5 7 7	2 6 4, 0 8 5	0. 2 % +	4 2. 6 % +
/w A R C A Ho l d ing o	1 7, 4 4 5	1 8, 2 4 7	1 8, 4 3 5	1. 0 % +	5. 7 % +

Total Funding, quarterly trend (€bn)

BPER + going concern

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

Liquidity

High level of liquidity with LCR >200% and liquidity buffer close to 30.9 €bn

Total unencumbered eligible assets Deposits with ECB

Total eligible Assets over time* (€mln)

Eligible Assets Pool Composition (%)

Annexes

• • ECB exposure of 18.4 €bn fully made up of TLTRO III funds, up from 16.7 €bn in Dec. '20 following an additional take up of 1.7 €bn in the auction of March 2021
• •LCR >200% largely in excess of regulatory threshold, with the NSFR ratio settling well above 100%

Note: figures in this page may not add exactly due to rounding differences. * Net of ECB haircut.

Net Customerloans

Portfolio composition

Bu in t s e s s s e c o r	S 2 1 e p	% To l t o n a Cu t s o m e r Lo a ns	Δ % De 2 0 vs c
M fac ing tu an u r	1 1, 2 6 7	1 4. 7 %	4 7. 0 % +
W ho les le d i l s ice ta a an re er v s, ies d irs re co ve r a n re p a	6, 3 6 6	8. 3 %	4 3. 5 % +
Co ion tru t ns c	3, 1 8 8	4. 2 %	4 7. 9 % +
Re l Es ta te a	4, 2 3 0	5. 5 %	3 5. 6 % +
H O R E C A *	1, 8 6 2	2. 4 %	2 4. 9 % +
Ag icu l fo d f is h ing tu try r re re s a n ,	1, 0 0 5	1. 3 %	2 6. 9 % +
O he t r	8, 1 0 5	1 0. 6 %	3 7. 1 % +
To l lo f in ia l t t a a ns o no n- a nc bu in s e s s e s	3 6, 0 2 4	4 7. 1 %	0. 9 4 % +
Ho ho l ds us e	3 4, 1 5 2	4 4. 7 %	5 6. 0 % +
To l loa f ina ia l bu ine ta to ns nc s ss es	6, 3 0 7	8. 2 %	1 4. 0 % +
To l Cu Lo t t a s o m e r a ns	7 6, 4 8 3	1 0 0. 0 %	4 4. 3 % +
De b Se i ies t t cu r	1 4, 3 5 7	1 8. 8 %	1 2. 8 % +

Annexes

Net customer loans breakdown by sector (€mln) Customer loans breakdown by geographical areas¹(%)

* Hotels, Restaurants & Cafès (HORECA). Note: figures as per ATECO business sector definitions (ISTAT, the Italian National Institute of Statistics ).

1. Commercial banks + Sarda Leasing, excluding non-resident loans. Figures from data management system.

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

Assetquality

Asset quality breakdown (excl. debt securities)

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

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

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

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

Financial Assets: highlights

Annexes

1. Figures are shown in nominal amounts. Note: figures from data management system.

Bond maturities and issuances: highlights

Dec 20 Sep 21 Wholesale bonds 3.9 3.5 o/w covered bonds 1.9 1.9 o/w subordinated bonds 0.9 0.9 Retail bonds 0.8 1.0 Total bonds 4.64.5

Annexes

Outstanding bonds¹ (€bn)

1. including Unipol Banca bonds.

Note: figures on this page: 1) reflect nominal amounts and 2) may not add exactly due to rounding differences.

Contacts for Investors and Financial Analysts

Via San Carlo, 8/20 - 41121 Modena - Italy

+39 059 2021396

fabio.pelati@bper.it

Nicola SponghiInvestor Relations