Bper Banca — Investor Presentation 2021

Aug 4, 2021

1H21 Consolidated Results

Piero Luigi Montani, CEO4August 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

Changein the scope of consolidation

1H21 saw the completion of the integration in BPER Banca of the going concern consisting in ⁶²⁰ branches¹ acquired from the 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 J}une 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 J}une ²⁰²¹ are not comparable with prior periods due to the change in the scope of consolidation.

Provisional PurchasePrice Allocation (PPA)

1H21 results include the impact of the PPA carried out following the first provisional 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 ad ustments: ^j

• •-337.5 €mln on non-performing loans;
• •+234.1 €mln on performing loans;
• •-19.9 €mln on real estates properties;
• •-10.0 €mln on provisions for Risk and Charges.

As ^a result of the provisional PPA, ^a Bargain Purchase amount of 833.7 €mln was booked in the 1H21 ^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

Liquidity and Capital adequacy

Final remarks

ANNEXES

Executive summary

1H21 results show sharp volumes growth, higher profitability, asset quality improvement and stronger competitive position

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G t ov e rn m e n ic e c o no m m e a su re s fa d i C t o c e ov	fo l low l l fo de b ly low d lo bn do in ica io i O in M ia € 60 Q / Q ts ta to ts t to t u n g or a r on an p ay m en am ou n 3. 2 w n % g re ne wa ap p ns r a co ns ra er • , ha he l d ba lan du f he d in irm in im ic iro t t t to ta ts ta t t am ou n n ou n g ce e, co n g p ro ve ec on om en v nm en d loa in d bn ( ) S 6. € Q / Q ta te te to -g ua ra n e ns cr ea se 5 +7 % •

1. Including life insurance premiums.

2. See slide 17.

3. The CET1 ratio Fully Phased pro-forma has been estimated excluding the effects of the transitional provisions 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.

Agenda

BPER GROUP CONSOLIDATED RESULTS

Executive summary

Balance sheet structure

Profit and loss

Liquidity and Capital adequacy

Final remarks

ANNEXES

Total funding

Sharp increase in total funding to 263.6 €bn (+42.3%YTD), driven by going concern contribution (72.9¹ €bn) and positive commercial input

Total Funding breakdown (€mln; %)

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

BPER + UBI going concernISP going concern

• •Total funding up 3.3% Q/Q mainly driven by ISP branches contribution (5.8 €bn)

• •On ^a like-for-like basis, total funding increased by 1.0% Q/Q thanks to the positive input of commercial initiatives

• 67.1 €bn in 1Q21 from UBI branches and 5.8 €bn in 2Q21 from ISP branches

• Includes life-insurance products Note: figures on this page may not add exactly due to rounding differences

Direct funding

Direct funding rose to 98.5 €bn in 1H21 (+56.0% YTD) driven by going concern contribution (31.6¹ € bn)

Direct Funding breakdown (€mln; %)

ln €/m		De c 2 0	Ma r 2 1	Ju n 2 1	Ch /Q ( Q g. %)	Ch D ( YT g. %)
Cu sto r D ire ct De me p os	its	59 50 5 ,	90 34 3 ,	94 59 9 ,	4.7 % +	59 .0% +
o/w C t ac ts a urr en co un	nd sig ht dep osi ts	55 116 ,	85 788 ,	90 103 ,	5.0 % +	63 .5% +
o/w Bo nd s		82 0	76 1	63 6	16. 4% -	22 .4% -
o/w O the r		3, 56 9	3, 793	3, 85 9	1.7 % +	8.1 % +
Ins titu tio l D ire fun ct na	din g	3, 63 5	4, 09 9	3, 89 9	4.9 % -	7.2 % +
o/w bo nd s		3, 56 5	4, 06 7	3, 89 9	4.2 % -	9.3 % +
o/w re po s		70	32	0	100 .0% -	100 .0% -
To tal D ire De its ct p os		63 14 1 ,	94 44 2 ,	98 49 8 ,	4.3 % +	56 .0% +

Direct Funding, quarterly trend (€bn)

Balance sheet structure

Institutional fundingCustomer Direct Dep. (BPER+UBI) ISP going concern

• •Direct funding up 4.3% Q/Q primarily as a result of the 2.2€bn contribution from ISP Branches (+1.9% Q/Q on a like-for-like basis)
• •95% of Customer direct deposits consists in "Current accounts and Sight deposits" (+63.5% YTD) at a very low cost

• • Institutional funding amounts to 3.9 €bn, following the Company's € 500 mln inaugural social bond issuance finalised in 1Q21, partially offset by bond maturities in 2Q21

• 29.4 €bn in 1Q21 from UBI branches and 2.2 €bn in 2Q21 from ISP branches Note: figures on this page may not add exactly due to rounding differences

Indirectdeposits

Total indirect deposits up to 165.1 €bn (+35.2% YTD), with going concern contribution of 41.3¹ €bn

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

• • Indirect deposits rose by 2.7% Q/Q mainly as ^a result of the 3.6 €bn ISP branches contribution, with ^a large share of AUM (1.3 €bn) and life bancassurance (1.4 €bn)
• •On ^a Like for like basis, Indirect deposits were up 0.5%
• • Growth in indirect deposits was also underpinned by AuM and life insurance inflows, which reached 1.2 €bn in 1H21

Net inflows³ of AuM and Life Insurance products (€mln)

1. 37.8 €bn in 1Q21 from UBI branches and 3.6 €bn in 2Q21 from ISP branches

2. Indirect deposits include life insurance premiums

3. 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 76.3 €bn (+43.9% YTD)

De 2 0 c	Ma 2 1 r	Ju 2 1 n	C hg Q Q / ( % )	C hg Y T D ( % )
3, 6 6 9	4, 8 9 7	4, 7 6 6	-2 7 %	2 9. 9 % +
3 3 5, 5 5	2, 6 4 5 7	3, 3 6 5 5	1. 3 % +	5 0. 9 % +
1 3, 9 8 2	1 7, 8 2 3	1 8, 1 6 8	1. 9 % +	2 9. 9 % +
5 3, 0 0 6	7 5, 3 6 7	7 6, 2 9 0	1. 2 % +	4 3. 9 % +
5 0, 8 7 6	7 2, 9 5 6	7 4, 1 3 8	1. 6 % +	4 5. 7 % +
2, 1 3 0	2, 4 1 2	2, 1 5 3	1 0. 7 % -	1. 1 % +

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

• •Customer loans up 1.2% Q/Q driven by ISP branches contribution of 1.2 €bn, almost entirely consisting of performing exposures

• •The reduction on a like for like basis is mainly due to NPE disposals finalised in 2Q21

• 21.8 €bn in 1Q21 from UBI branches and 1.2 €bn in 2Q21 from ISP branches

Note: customer loans excluding debt securities. See relevant table in the Annexes. Note: figures on this page may not add exactly due to rounding differences. * Pro-forma including the effects of the "Spring" securitisation of bad loans

Loanpayment moratoria and State guaranteed loans Balance sheet structure

Strong reduction in outstanding loan payment moratoria vs. 1Q21

• • Outstanding loan payment moratoria amounted to 3.2 €bn (20% of total amount granted), down significantly from 1Q21 (-60%), on the back of renewal applications for a considerably lower amount than the total outstanding balance due, confirming the improved economic environment.
• •63% of outstanding moratoria are classified in the best internal credit ratings
• •Default rate on expired moratoria is in line with the default rate of performing loans
• •State guaranteed loans increased to 6.5 €bn in 2Q21 (+7% Q/Q)

Asset Quality(1/3)

• • Continuos improvement in asset quality thanks to going concern contribution and derisking actions.
• •Steady reduction in the NPE ratios

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

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

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

• • Gross and net NPE ratio of 5.7% and 2.8% respectively, down further in 2Q21 from the already steeply reduced levels of 1Q21, as result of the going concern contribution and derisking strategy effectiveness
• • NPE coverage ratio up to 51.8% Q/Q (inclusive of -337.5 €mln PPA impact on going concern NPEs). In particular: Bad Loans at 60.9% and UTPs at 43.1%
• •Performing loan coverage up to 0.6% vs. 0.5% in 1Q21 and 0.3% at end-2020

* Pro-forma including the effects of the "Spring" securitisation of bad loans

Note: customer loans excluding customer debt securities. See relevant table in the Annexes.

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

Asset Quality(2/3)

Balance sheet structure

Stage 2 net loans stock of 9.5 €bn (12.9% of Group's performing loans) with coverage increased to 3.0%

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

Asset qualityBalance sheet structure (3/3)

Default rate at 0.8% from 1.0% in Dec.'20. Recovery rate continues its positive trend

Default rate (%) Bad loans average recovery rate¹ (%) (Bper Credit Management)

1. Source: management data. Note: Default rate = 1H21 NPE inflows / performing loans stock at 31 Dec'20; All ratios are calculated on gross exposures. * Annualised

Balance sheet structure

Financial assetsportfolio

Financial assets portfolio of 27.1 €bn up by 2.4 €bn YTD

F V T P L	F V O C I	A C	To l ta	% l to ta on
3 1 4	6, 2 1 2	7 1 9, 4 8	3 2 6, 0 1	9 6. 1 %
1 2 6	4 1 6	7 7, 7 2	8 8, 2 6	3 0. 5 %
9 4	2 2 5		6 3 4	1. 3 %
5 4 6			5 4 6	2. 0 %
1 6 1			1 6 1	0. 6 %
1, 1 1 5	6, 4 6 4	1 9, 4 8 7	2 7, 0 6 6	1 0 0. 0 %
1, 1 7 2	6, 2 7 0	1 7, 2 2 0	2 4, 6 6 2
-4 9 %	3. 1 % +	1 3. 2 % +	9. 7 % +

Share of Italian bonds (%)¹

Financial Assets breakdown (€mln; %) Italian Government bonds1 (€bn)

• •Financial assets portfolio up by 2.4 €bn YTD
• •Italian government bonds at 8.3 €bn (vs. 7.8 €bn Dec.'20)
• • Italian Bond portfolio accounts for:
• -40.7% of Total Bond portfolio
• -7.8% of Total Asset

• • Total bonds and Italian government bonds portfoliosduration2respectively 2.3 ys and 2.8 ys

• Source: management data.

• 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

Liquidity and Capital adequacy

Final remarks

ANNEXES

Profit & Loss

• •1H21 results of 501.8 €mln affected by non-recurring items related to the integration process
• •Profit before tax of 259.7 €mln, excluding one-offs

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

Comments:

Note:

• 1. As per contractual provisions with Intesa Sanpaolo. The item has a neutral impact on the net result as it was offset by -€316.2 mln recognised as Taxes
• For a more consistent representation of the Group's Accounting Policies, 2020 figures have been restated to take into account the reclassification of 5,7 €mln in 1Q20 and 11.6 €mln in 1H20 from the item "Net Interest Income" to the item "Net commission income"
• Figures on this page may not add exactly due to rounding differences.
• Comparable figures at 31 March 2020 shown in the present schedule have been restated to show the effects of the retrospective application of the change in the accounting method used to measure property, plant and equipment held for investment.

Profit and Loss

Net InterestIncome

1H21 NII at 728.3 €mln of which 632.2 €mln from commercial activity with customers

Net Interest Income¹ Breakdown (€mln)

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

• • Total spread reduction was due to excess liquidity held with the ECB and lower securities portfolio contribution
• • Further upside expected in 2H21 following the ISP branches contribution and acceleration in lending volumes

Spread³ (%)O/w IFRS9 and IFRS16-0.30-0.49 -0.52 -0.54 -0.54 1.81 1.721.61 1.48 1.440.17 0.03 0.00 0.00 -0.011.64 1.69 1.62 1.48 1.442Q20 3Q20 4Q20 1Q21 2Q21Euribor 3M (avg) Tot. Assets yield Tot. Liabilities cost Total Spread 297.0 315.7 309.3 340.2 381.9 7.4 4.6 2.63.32.9304.4 320.3 311.9 343.5384.82Q20 3Q20 4Q20 1Q21 2Q21

Net Interest Income quarterly trend¹ (€mln)

• 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: -5.9 €mln in 2Q20, -5.2 €mln in 3Q20, +16.8mln in 4Q 20
• 1. Net of interest expenses related to excess liquidity held at the ECB's deposit facility

• Management data. Spread calculated by taking into account ECB funding and deposits

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

Net commissionincome

Profit and Loss

1H21 Net commission income reached 734.0 €mln, with a growing share of Indirect deposits and bancassurance related fees

Net Commission Income over time¹ (€mln)

Indirect deposits & Life BancassuranceBanking Services Non-Life Bancassurance

• • Net commission income uptrend accelerated in 1H21, supported by the strong contribution fromthe newly acquired going concern and ^placement of AUM and life-bancassurance products

• • Strong rebound in traditional banking fees thanks to Italy's ongoing economic recovery

• 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: +5.9 €mln in 2Q20, +5.2 €mln in 3Q20, -16.8 €mln in 4Q20Note: The breakdown between life and non-life bancassurance is based on operational data

Trading incomeand Dividends

Trading income came in very strong reaching 119.7 €mln in 1H21, as it benefitted from positive market performance and capital gains on securities disposals

Trading income over time (€mln)

Operating costs

1H21 operating costs totalled 1,111.5 €mln and were impacted by one-off charges mainly in relation with the going concern integration process

Operating costs breakdown¹ (€mln)

	H 2 1 1	/ o w Q 2 1 1	/ o w 2 Q 2 1	C h g %
S f f t a e p e n s e s x	6 2 5 7.	3 0 2. 1	3 5 5. 1	1 7. 5 % +
/w Ex d ina tra o or ry	1 8. 4	7. 8	1 0. 6	3 5. 9 % +
/w Or d ina o ry	6 3 8. 8	2 9 4. 3	3 4 4. 5	1 0 7. % +
O h d i i t t e r a m n s r. e x p e n s e s	3 3 4 7.	8 9. 9 1	1 5 7. 4	-1 7. 1 %
/w Ex d ina tra o or ry	7 0. 5	6 2. 6	7. 9	8 7. 4 % -
/w Or d ina o ry	2 6. 8 7	1 2 3 7.	1 4 9. 5	1 7. 5 % +
D & A	1 0 7. 0	5 4. 5	2. 5 5	3. 6 % -
/w Ex d ina tra o or ry	8. 9	8. 9	0. 0	1 0 0. 0 % -
/w Or d ina o ry	9 8. 1	4 5. 6	5 2. 5	1 5. 3 % +
T l i		5 4 6. 5	5 6 5. 0
O C t t t o a p e r a n g o s s	1, 1 1 1. 5			3. 4 % +
d in /w tra o e x or ar y	9 7. 8	7 9. 3	1 8. 5	-7 6. 7 %
/w d in o o r ar y	1, 0 1 3. 7	4 6 7. 2	5 4 6. 5	1 7. 0 % +

Operating costs over time² (€mln)

• Extraordinary operating costs amounted to 97.8 €mln (79.3 €mln in 1Q21 and 18.5 €mln in 2Q21) of which 88.9 €mln related to the integration process (staff training, rebranding, advertising and consultancy)

1. The one-off costs were operationally reallocated between Q1 and Q2 on an accrual basis 2. The 2020 quarterly data on Operating Costs were restated following the adoption of a different accounting methodology for the evaluation of real estate assets in Q1 21, 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

• •Adoption of a very conservative approach to provisioning
• •Badwill generated by the going concern acquisition totalled 1.1 €bn

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

• • LLps at 576.9 €mln, including 310 €mln additional provisions (260 €mln in 1Q21 and 50 €mln in 2Q21) driven by the adoption of a very prudent approach, despite no evidence so far of a significant deterioration in the asset quality
• • Excluding additional LLPS, the annualisedcost of credit is 70 bps (151 bps accounting)
• • Badwill generated by the going concern acquisition totals 1,149.9 €mln including 316.2 €mln related to the recovery of taxation from Intesa Sanpaolo, as per contractual provisions

* Calculated by including customer loans only (excl. customer debt securities).

** Item 130 a) Net impairment losses on financial assets at amortised cost, only loans to customers (Income statement).

*** Pro-forma including the effects of the "Spring" securitisation of bad loans

Profit and Loss

Agenda

BPER GROUP CONSOLIDATED RESULTS

Executive summary

Balance sheet structure

Profit and loss

Liquidity and Capital adequacy

Final remarks

ANNEXES

Liquidity

Total eligible Assets over time* (€mln)

Total eligible assets

Total unencumbered eligible assets Deposits with ECB

• • 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.

Capital

Proforma Fully Phased CET1 at 13.52% with large buffer vs. SREP requirement (8.125%)

Proforma Fully Phased CET1 (%)

Note: The CET1 ratio Fully Phased pro-forma has been estimated excluding the effects of the transitional provisions 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

Agenda

BPER GROUP CONSOLIDATED RESULTS

Executive summary

Balance sheet structure

Profit and loss

Liquidity and Capital adequacy

Final remarks

ANNEXES

Finalremarks

PROFITABILITY INCREASEProfit before tax excluding one-offs259.7 €mln

ASSET QUALITY IMPROVEMENTGross NPE ratio 5.7%

SOLID CAPITAL POSITION Fully Phased CET1 ratio13.5%

• • Excellent results despite macroeconomic scenario still impacted by the pandemic, characterised by increasing operating profitability, asset quality improvement andsolid capital position
• • The successfully completed integration of the going concern will contribute to generating additional value and will lead to ^a stronger focus on commercial growth and cost reduction through ^a leaner operating structure and ^a more rational cost base, which will be among the key ^pillars of the newbusiness ^plan
• • Major improvement in asset quality in conjunction with ^a very prudent approac^h adopted to provisioning, which will reverberate positively onthe cost of risk over the next years
• • Solid capital position with ^a large capital buffer to support Italy's economic growth and the development of the Bank'sfootprint areas

Agenda

BPER GROUP CONSOLIDATED RESULTS

Executive summary

Balance sheet structure

Profit and loss

Liquidity and Capital adequacy

Final remarks

ANNEXES

Customer loans

Portfolio composition

Net customer loans breakdown by sector(€mln; %)

Bu in t s e s s s e c o r	Ju 2 1 n	% 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 r u	1 1, 2 6 4	1 4. 8 %	4 6. 9 % +
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, 4 1 2	8. 4 %	4 4. 5 % +
Co ion tru t ns c	3, 1 9 4	4. 2 %	4 8. 2 % +
Re l Es ta te a	4, 3 7 5	5. 7 %	4 0. 3 % +
H O R E C A *	1, 9 0 8	2. 5 %	2 8. 0 % +
Ag icu l fo d f is h ing tu try r re re s a n ,	1, 0 2 6	1. 3 %	2 9. 6 % +
O he t r	7, 6 5 1	1 0. 0 %	2 9. 4 % +
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 5, 8 3 1	4 7. 0 %	4 0. 1 % +
Ho ho l ds us e	3 3, 9 6 6	4 4. 5 %	5 5. 1 % +
To l loa f ina ia l bu ine ta to ns nc s ss es	6, 4 9 4	8. 5 %	1 3 7. % +
Cu To l Lo t t a s o m e r a ns	7 6, 2 9 0	1 0 0. 0 %	4 3. 9 % +
Se De b i ies t t cu r	1 4, 0 6 2	1 8. 4 %	1 0. 5 % +

Customer loans breakdown by geographical areas¹(%)

Annexes

* 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. customer debt securities)

Gro s ( n) €/m ss exp os ure	Ju n 2 0		Se 20 p		De	c 2 0		Ma r 2 1		Ju n 2 1		Ch YT D g		Y/Y g
	%		%		%		%		%		Ch Ab ( %) s. g		Ab s.	Ch ( %) g
No n P erfo rmi Exp ( NP Es) ng osu res	5, 008	9.1 %	4, 896	8.8 %	343 4,	7.8 %	778 4,	6.1 %	4, 470	5.7 %	127	2.9 % +	538 -	10. 7% -
Bad loa ns	2, 374	4.3 %	2, 358	4.3 %	076 2,	3.7 %	368 2,	3.0 %	2, 341	3.0 %	265	12. 7% +	33 -	1.4 % -
Unl ike ly loa to p ay ns	2, 405	4.4 %	2, 356	4.2 %	125 2,	3.8 %	280 2,	2.9 %	1, 994	2.5 %	131 -	6.2 % -	41 1 -	17. 1% -
Pas t du e lo ans	228	0.4 %	183	0.3 %	141	0.3 %	130	0.2 %	135	0.2 %	6 -	4.6 % -	94 -	41. 0% -
Gro form ing loa ss per ns	50, 082	90. 9%	50, 57 1	91. 2%	048 51,	92. 2%	339 73,	93. 9%	74, 583	94. 3%	23, 535	46. 1% +	24, 50 1	+48 .9%
To tal gro ss exp os ure s	55, 089	100 .0%	55, 467	100 .0%	391 55,	100 .0%	117 78,	100 .0%	79, 052	100 .0%	23, 661	42. 7% +	23, 963	43. 5% +

Ad jus loa ( €/m n) tm ent s to ns	Ju n 2 0		Se p	20 De c 2 0		Ma r 2 1		Ju n 2 1		Ch YT D g		Ch Y/Y g
		( %) cov era ge		( %) co ver age	( %) co ver age		( %) co ver age			( %) co ver age		Ch ( %) s. g	Ab s.	Ch ( %) g
Ad jus to N PE tme nts s	2, 374	47. 4%	2, 413	49. 3%	213 2,	51. 0%	366 2,	49. 5%	2, 317	51. 8%	104	4.7 % +	57 -	2.4 % -
Bad loa ns	1, 49 1	62. 8%	1, 508	63. 9%	349 1,	65. 0%	370 1,	57. 8%	1, 425	60. 9%	75	5.6 % +	67 -	4.5 % -
Unl ike ly loa to p ay ns	841	35. 0%	868	36. 8%	831	39. 1%	963	42. 2%	858	43. 1%	27	3.3 % +	18	2.1 % +
Pas t du e lo ans	42	18. 2%	37	20. 2%	33	22. 4%	34	26. 1%	34	24. 9%	2	6.1 % +	8 -	19. 0% -
Ad jus erfo rmi loa tme nts to p ng ns	161	0.3 %	165	0.3 %	172	0.3 %	383	0.5 %	445	0.6 %	273	158 .2% +	284	176 .1% +
To tal adj ust nts me	2, 535	4.6 %	2, 578	4.6 %	385 2,	4.3 %	750 2,	3.5 %	2, 762	3.5 %	377	15. 8% +	227	9.0 % +

Ne t ex ( €/m n) po su res	Ju n 2 0		Se 20 p		De c 2 0		Ma r 2 1		Ju n 2 1		Ch YT D g		Ch Y/Y g
		%		%		%		%		%	Ab	Ch ( %) s. g	Ab s.	Ch ( %) g
No n P erfo rmi Exp ( NP Es) ng osu res	2, 634	5.0 %	2, 483	4.7 %	130 2,	4.0 %	412 2,	3.2 %	2, 152	2.8 %	22	1.1 % +	48 1 -	18. 3% -
Bad loa ns	883	1.7 %	850	1.6 %	727	1.4 %	998	1.3 %	916	1.2 %	189	26. 1% +	33	3.8 % +
Unl ike ly loa to p ay ns	1, 564	3.0 %	1, 487	2.8 %	294 1,	2.4 %	317 1,	1.7 %	1, 135	1.5 %	159 -	12. 2% -	429 -	27. 4% -
Pas t du e lo ans	187	0.4 %	146	0.3 %	109	0.2 %	96	0.1 %	101	0.1 %	8 -	7.7 % -	86 -	45. 9% -
Net rfor min loa pe g ns	49, 921	95. 0%	50, 406	95. 3%	876 50,	96. 0%	956 72,	96. 8%	74, 138	97. 2%	23, 262	45. 7% +	24, 217	+48 .5%
To tal net ex po su res	52, 554	100 .0%	52, 889	100 .0%	006 53,	100 .0%	367 75,	100 .0%	76, 290	100 .0%	23, 284	43. 9% +	23, 736	45. 2% +

Note: Pro-forma data as at 30/06/2020including the effects of the "Spring" securitisation of bad loans.

Financial Assets: highlights

Annexes

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

31

Bond maturities and issuances: highlights

Annexes

Outstanding bonds¹ (€bn)

	De 2 0 c	Ju 2 1 n
W ho les le bo ds a n	3. 5	3. 9
/w d bo ds o co ver e n	1. 9	1. 9
/w bo d ina d bo ds te o su r n	0. 9	0. 9
Re i l bo ds ta n	1. 0	0. 8
To l b d t a o n s	4. 5	4. 6

Bonds issued (€bn)

2021 Bond maturities (€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.

Fabio PelatiHead of Investor Relations

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

+39 059 2021369

fabio.pelati@bper.it

Nicola SponghiInvestor Relations

nicola.sponghi@bper.it