Bper Banca — Investor Presentation 2022

Feb 9, 2022

FY21 Consolidated Results

Piero Luigi Montani, CEO⁹th February 2022

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

In ²⁰²¹ BPER Banca completed the integration 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 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, both P&L and B/S accounting figures as at ³¹ December ²⁰²¹ are not comparable with figures as at ³¹ December 2020. Conversely, on ^a quarterly basis, 4Q21 figures are comparable with 3Q21 figures as the scope of consolidation is the same.

Purchase Price Allocation(PPA)

FY21 results include the impact of the PPA carried out following first accounting treatment of the going concern acquired, 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 writedowns on properties book value);
• •-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 FY21 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

Profit and loss

Capital adequacy

Final remarks

ANNEXES

Executive summary

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l d i i i t q u y	ha he la hr ho l d. l l b C ic S L R N 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 %

SHARP INCREASE IN CORE BUSINESS PROFITABILITY DRIVEN BY COMMERCIAL EFFECTIVENESS AND SIGNIFICANTLY ENHANCED COMPETITIVE STRENGTH

1. See slide in the Annexes.

2. The Pro-forma CET1 ratio Fully Phased has been estimated excluding the effects of the transitional provisions in force and including the result for the year, 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

Profit and loss

Capital adequacy

Final remarks

ANNEXES

Balance sheet

Direct Deposits

Direct funding at 101.4 €bn, of which over 90% in core deposits at marginal cost

ln € /m	De c 2 0	Se p 21	De c 2 1	hg C Q ( Q / ) %	hg C Y ( Y / ) %
Cu D ire De its to t s me r c p os	5 9, 5 05	64 9 3, 9	6, 9 20 1	+2 .4 %	61 + .7 %
d s ht de /w C / A ig its o an p os	6 5 5, 11	89 5 5 3 ,	8 85 9 1,	6% +2	6 6.7 + %
ds /w Bo o n	82 0	62 8	61 7	+2 1.2 %	-7. 3 %
he /w O t o r	69 3, 5	83 3, 7	3, 5 5 5	-6. 0%	-0. 4 %
l fu d itu io ire ing Ins D t t t na c n	63 3, 5	3, 9 5 4	8 8 5, 1	+3 1.2 %	+4 2.7 %
/w o re p os	7 0	6 5	1, 29 4	n.s	n.s
l To D ire De its ta t c p os	63 14 1 ,	8 9 7, 9 1	8 8 10 1, 3	+3 .5 %	60 6% +

Direct Funding breakdown (€mln)

• •Customer Direct Deposits at 96.2 €bn up 2.4% Q/Q driven by growth in C/A and sight deposits
• • Institutional funding increased to 5.2 €bn from higher repos, to take advantage of low interest rates. In January 2022 600 €mln worth of Tier 2 bond was issued to optimise both capital structure and cost of funding

Balance sheet

Indirectdeposits

Total indirect deposits increased to 166.3 €bn driven by AUM and life bancassurance

€ ln /m	De c 2 0	Se p 21	De c 2 1	hg C Q ( Q / ) %	hg C Y ( Y / ) %
de dy As ts to se un r c us	2, 05 7 7	83 03 1 ,	82 63 1 ,	0% -1.	+1 0% 4.
de As ts t se un r m an ag em en	2, 19 4 7	63 9 3 7 ,	64 82 3 ,	+1 % .4	+5 % 1.7
ldin /w Ar Ho o ca g	17,4 45	18,4 35	18, 92 1	6% +2.	+8 .5%
fe i L Ins ur an ce	7, 3 01	19, 20 0	19, 29 1	+0 .5 %	64 +1 .2%
l d de To in ire i ta t ts c p os	12 2, 07 7	6 6, 67 1 1	6 6, 1 27 7	+0 .1%	6.2 +3 %

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

• •AuM positive momentum confirmed in 4Q21 (+1.4% Q/Q),
• • Net inflows in ²⁰²¹ reached 2.1 €bn roughly twice the ²⁰²⁰ level thanks to the effective commercial actions put in ^place despite the integration process of the going concern

Customerloans

Net customer loans at 79.1 €bn

€ ln /m	De c 2 0	Se p 21	De c 2 1	C hg Q ( Q / ) %	C hg Y ( Y / ) %
Cu Ac t ts rre n co un	6 69 3,	4, 9 3 5	69 4, 9	+0 % .7	+3 % 5. 4
loa M tg or ag e ns	3 3 5, 5 5	89 3, 5 1	62 3, 5 1	8% +0	+5 1.7 %
he O t r	82 13, 9	8, 8 1 3 5	20 5 23 ,	8% +1 1.	6. 8% +4
lo Ne t c to us m er an s	6 3, 00 5	6, 83 7 4	9, 113 7	+3 % .4	+4 9. 3 %
fo ing /w Pe o r rm	87 6 5 0,	7 4, 5 25	7 7, 5 17	+4 .0%	+5 2.4 %
fo /w No Pe ing o n- r rm	2, 13 0	8 9 1, 5	6 9 1, 5	8.5 % -1	-25 .1%

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

• •Performing net customer loans up 4.0% Q/Q thanks to the acceleration in lending
• •3.3 €bn new loans granted in 4Q21 (+57.4% Q/Q)

Note:

•Figures on this page may not add exactly due to rounding differences.

Loanpaymen^t moratoria and State guaranteed loans Balance sheet

Loan payment moratoria declined to 0.2 €bn following end-of-year expiry. State guaranteed loans continued to increase

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

• •Very low default rate on expired moratoria (around 1.7%)
• •State guaranteed loans gradually increased over the year to 7.3 €bn up by 4.7% q/q and 19.1% vs. 1Q21

4Q21 data are as at 07th January 2022

*After the expiry of moratoria under the "Cura Italia" law decree on 31/12/21, the residual amount mainly refers to bank and ABI moratoria ** State guaranteed loan breakdown by loan size in 4Q21: 60% >€30K, 32% <€30k, 8% SACE (large corporate exposures)

Asset Quality(1/3)

Steady reduction in NPE ratios coupled with significant strengthening of coverage levels

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

	De c 2 0	Se t 2 p 1	De c 2 1	Q Q /	Y / Y
d Ba Lo an s
Gr os s	6 2, 07	2, 3 5 0	2, 01 4	-14 .3 %	-3. 0%
Ne t	27 7	87 0	67 5	-3 9 % 4.	-22 .0%
Co ve ra g e	65 .0%	63 .0%	8% 7 1.	8.9 p. p.	6. 8 p .p.
U T Ps
Gr os s	2, 125	87 3 1,	8 83 1,	0.5 %	% -11 .4
Ne t	1, 29 4	6 6 9	9 3 4	-3. 3 %	8% -27
Co ve ra g e	3 9. 1%	8.4 % 4	0.4 % 5	2.0 p. p.	3 p. p. 11.
Pa Du t s e
Gr os s	14 1	60 1	8 12	-20 .1%	6% -9
Ne t	110	122	9 5	-22 .3 %	-13 .7 %
Co ve ra g e	22 .4 %	23 .9 %	25 .9 %	2.1 p. p.	3. 5 p. p.
l To N P E ta
Gr os s	4, 3 4 3	83 4, 3	4, 02 4	-8 .2%	-7. 3 %
Ne t	2, 13 0	8 1, 9 5	6 1, 5 9	8.5 -1 %	-2 5. 1%
Co ve ra g e	5 1.0 %	5 5. 3 %	60 .4 %	5. 0 p. p.	9. 4 p. p.
fo lo Pe ing r rm an s
Gr os s	8 04 5 1,	6 6 9 7 4,	64 9 7 7,	0% 4.	2.7 % 5
Ne t	87 6 5 0,	7 4, 5 25	7 7, 5 17	4. 0%	5 2.4 %
Co ve ra g e	0. 3 %	6% 0.	6% 0.	0. 0 p. p.	0. 2 p. p.

NPE ratios over time (%)

• • Gross NPE ratio down significantly to 4.9% (2.0% net) also benefitting from an effective derisking strategy
• • Net NPE stock down 18.5%Q/Q driven by Bad Loans reduction (-34.9% Q/Q)
• • NPE coverage ratio up to 60.4% (+5.0 p.p. Q/Q). In particular: Bad Loans at 71.8% (+8.9 p.p. Q/Q) and UTPs at 50.4% (+2.0 p.p. Q/Q)
• •Performing loan coverage stable at 0.6% (0.3% at end-2020)

Balance sheet

Asset Quality(2/3)

Stage 2 net loans stock down to 7.9 €bn (-18.1% Q/Q) with coverage rising to 3.5%

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

Asset qualityBalance sheet (3/3)

Default rate at 0.9% from 1.0% in Dec.'20. High rate of bad loan recovery confirmed

Default rate (%) Average Bad loan recovery rate¹ (%) (Bper Credit Management)

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

Financial assetsportfolio

Financial assets portfolio at 28.4 €bn

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

€ /m n	F V T P L	F V O C I	A C	l To ta	l to ta % on
ds Bo n	23 3	6, 9 3 7	8 20 5 7 ,	80 27 2 ,	6.1 9 %
1 l ia I ta o .w n g ov	12 5	3 4 0	8, 8 13	8, 60 4	3 0. 3 %
Eq i ty u	111	3 25		63 3	1.3 %
ds d S ica Fu n a n v	0 5 9			0 5 9	2.1 %
he O * t r	0 14			0 14	0. 5 %
l a To ta t 3 s a 1.1 2. 20 21	64 1, 1	6, 63 2	8 20 5 7 ,	8, 2 3 7 3	10 0%
l a To ta t 3 s a 1.1 2. 20 20	1, 17 2	6, 27 0	17 22 0 ,	6 62 24 ,
hg ( ) C De '20 vs c. %	-0 % .7	8% +5	+1 9. % 5	+1 0% 5.

Share of Italian bonds¹ (%)

Balance sheet

• •Italian government bonds at 8.6 €bn (vs. 7.8 €bn in Dec.'20)
• Italian Bond portfolio accounts for:
• 40.7% of Total Bond portfolio
• 8.1% of Total Assets

•

• Total bonds and Italian government bond portfolio duration² of 2.4 ys and 3.0 ys respectively

1. Source: operational management data.

2. 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

Profit and loss

• Capital adequacy
• Final remarks
• ANNEXES

Profit & Loss

FY21 results of 525 €mln. Net of non-recurring items¹, profit before tax totals 580 €mln

		ly Q te ua r r	d tre n		l An nu a	d tre n
( ln ) €m	Q2 1 1	Q2 2 1	Q2 3 1	Q2 4 1	FY 20	FY 21
Ne int inc t st ere om e	34 3.5	84 8 3	3 91. 1	85. 3 9	8.9 1,2 3	05 1,5 .4
Ne iss ion inc t c om m om e	8.1 3 2	8 40 5.	8.5 43	69 4 .2	1,0 7 2.5	64 6 1, 1.
Co Inc re om e	67 6 1.	6 9 0. 7	82 9.5	85 5.1	2,3 11. 4	6.9 3,1 4
de ds D iv i n	1.7	12. 3	0.7	5.5	8.5 1	20 .1
fro f l ac Ne inc ina ia iv it ies t t om e m nc	6.2 7	43 .5	5 2.9	6 23.	8.2 13	6.2 19
he Ot ing inc t / r o p era ex p en ses om e	8.1	6 -5.	9. 2	13. 3	41. 0	25. 0
Op ing In t era co me	7 57. 7	84 0.7	89 2.4	89 7. 5	2,5 09 .0	8 8.3 3, 3
f f c Sta ost s	-3 02 .1	-35 5.1	8 -31 3.	-55 7. 2	60 -9 .7	8.2 -1,5 2
he dm Ot in ist ive rat r a ex p en ses	89 .9 -1	-15 7. 4	-15 1.1	80 8 -1	-49 9. 0	-67 9. 2
iat ion & iza ion De Am ort t p rec s s	-54 .5	-5 2.5	8 -5 2.	-12 0.3	67. -1 4	80 -2 .1
Op ing t sts era co	6.5 -54	65 -5 .0	8 -51 7.	-85 8.3	62 -1, 7. 2	87 -2, 4 .5
ing Ne Op In t t era co me	211 .2	8 27 5.	6 37 4.	3 9. 2	8 81. 8	8 9 00
los fo d k Ne im irm it r is t t p a en ses r c re	8. 8 -41	6 -15 7.	8. 8 -13	8 -12 2.	-54 4.4	-83 8.0
f L Op ing In LP t t o era co me ne s	6 -20 7.	8.2 11	8 23 5.	-83 6	3 37. 5	62 8
for ks d c ha Ne is ion is t p rov s r an rg es	-40 .9	6 -9.	-4. 5	-25 .7	-3 2.5	-80 .7
Co i bu ion ds ( S G S, S ) Fu RF D FIT D- V ntr t to n ,	-31 .1	-15 .1	-80 .0	6 -7.	-8 8.2	-13 3.7
( ) o Ga in Los n I stm ts ses nve en	-25 0.7	6 -2.	6 -2.	-27 .4	-20 .1	83. -2 3
Ga in ba in ha on a rg a p urc se	1,0 7 7. 9	7 2.1	-22 .1	-	-	8 1,12 7.
f ( los ) be fo Pro it tax s re es	6 54 7.	62 1 .9	6. 6 12	-14 4.3	6.7 19	69 2.9
Ta xe s	8 -14 0.	-5 0.9	-34 .3	8 91.	65. 2	-13 4.2	f be fo F Y2 Pr i t ta o re x o 1
f it ( ) fo he io d Pro Lo r t ss p er	6. 8 40	112 .0	9 2.3	-5 2.4	61. 2 9	8. 6 55	ln €m 5 7 9. 9
M ino ity In ter est r s	-6. 5	-10 .5	8 -7.	-8. 7	-25 .0	-3 3.5	f n in i t o te ne on -re cu rr g
f ( los ) fo he d p Pro it io in ing r t ert to s p er a he t nt p are co mp an y	40 0.3	101 .5	84 .4	-61 .1	6.9 23	25. 5 1

1. See details in the Annexes section

Notes:

16 FY20 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.

Figures on this page may not add exactly due to rounding differences.

Profit and Loss

Profit and Loss

Operating Income

Operating income reached 3,388.3 €mln in FY21 driven by core income growth (+3.1% Q/Q)

• Operating income in 4Q21 increased to 897.5 €mln, of which 855.1 €mln in core income (NII + Net Commissions) up 3.1% Q/Q, driven by AUM and Bancassurance as well as by the ongoing recovery in traditional banking fees

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

Net InterestIncome

FY21 NII at 1,505.4 €mln of which 1,323.1 €mln from commercial activity with customers

Net Interest Income breakdown (€mln)

ln €m	F Y2 1	/w o Q 1 21	/w o Q 2 21	/w o Q 3 21	/w o Q 4 21	hg C Q / Q %
Co ia l N I I mm erc	1, 3 23 .1	29 1.7	3 4 0.5	8.5 3 4	3 4 2.3	8% -1.
fo l Se it ies io t cu r p or	104 .7	29 .0	6. 6 2	25 .1	24 .0	% -4. 5
1 O- T L T R I I I	107 .7	8 3 1.	25 .0	24 .1	6.9 2	11.4 %
fu O he itu ion l d ing Ins t t t r a n	-4 5. 1	-12 .2	-10 .1	-11 .3	-11 .5	1.7 %
d Or ina N I I ry	1, 4 9 0.4	3 4 0.2	81. 3 9	8 6.5 3	81. 3 7	-1.2 %
d I F R S 9 I F R S 1 6 an	15. 0	3. 3	2.9	6 4.	4. 2	-8. 3 %
l To N I I ta	1, 5 05 .4	3 4 3. 5	84 8 3	3 9 1.1	85 3 .9	-1.3 %

• • NII in 4Q21 at 385.9 €mln down Q/Q mainly due to asset ^yield compression
• • TLTRO-III contribution (including the impact of excess liquidity held at the ECB's deposit facility) increased to 26.9 €mln in 4Q21 following excess liquidity reduction

Spread² (%)O/w IFRS9 and IFRS16340.2381.9 386.5 381.7 3.32.9 4.6 4.2 343.5384.8 391.1 385.9 1Q21 2Q21 3Q21 4Q21 -0.54 -0.54 -0.55 -0.57 1.48 1.44 1.40 1.390.00 -0.01 -0.01 -0.01 1.48 1.44 1.41 1.401Q21 2Q21 3Q21 4Q21 Euribor 3M (avg) Tot. Assets yieldTot. Liabilities cost Total Spread

Net Interest Income quarterly trend (€mln)

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

2. Operational management data. Spread calculated by taking into account funding and deposits available at the ECB

Net commissionincome

FY21 Net commission income reached 1,641.6 €mln, driven by AUM & Bancassurance business growth and strong commercial performance

Net Commission Income over time (€mln)

• • In 4Q21 net commissions up to 469.2 €mln (+7.0% Q/Q) mainly driven by Indirect deposits & Life bancassurance commission growth (+10.2% Q/Q)
• • The recovery in traditional banking fees continued in 4Q21 (+5.7% Q/Q) underpinned by the acceleration in lending and paymen^t services

Note: The breakdown between life and non-life bancassurance is based on operational data

Figures on this page may not add exactly due to rounding differences.

Trading incomeand Dividends

Trading income totaled 196.2 €mln in FY21, benefitting from positive market performance and capital gains on securities disposals

Trading income over time (€mln)

Figures on this page may not add exactly due to rounding differences.

Operating costs

FY21 operating costs totalled 2.5 €bn, impacted by one-off charges mainly associated with going concern integration and workforce optimisation

	F Y2 1	/w o Q 1 21	/w o Q 2 21	/w o Q 3 21	/w o Q 4 21
f f e S ta xp en se s	8.2 1, 5 2	3 02 .1	3 5 5. 1	8 3 13	5 5 7. 2
d /w Ex ina tra o or ry	8.0 22	6 7.	8. 8	1.5	21 0.0
Or d ina /w o ry	3 00 .2 1,	29 4. 5	6.2 3 4	3 12 .3	3 2 4 7.
he dm O in is t tr r a . e xp en se s	67 9. 2	89 1 .9	15 7. 4	15 1.1	80 8 1
d ina /w Ex tra o or ry	83 8	62 6	9 7.	3 5.	8.0
d /w Or ina o ry	5 9 5. 4	127 .3	14 9. 5	8 14 5.	8 17 2.
& D A	80 2 .1	5 4. 5	5 2.5	8 5 2.	12 0. 3
d ina /w Ex tra o or ry	6.4 7	8.9	0.0	0.0	67 .4
d /w Or ina o ry	8 20 3.	6 4 5.	5 2.5	8 5 2.	5 2.9
l To O ing Co ta t ts p er a s	87 2, 4 .5	6.5 5 4	65 .0 5	8 5 17	85 8.3
d /w ina tra o ex or ry	8 8.2 3	7 9. 1	6.7 1	6. 8	85 2 .4
d /w ina o o r ry	2, 09 9. 3	67 4 .3	8.2 5 4	5 11. 0	8 5 7 2.

Operating costs breakdown (€mln)

Operating costs over time (€mln)

• •Staff expenses increase in 4Q21 due to 210.0 €mln worth of charges related to workforce optimisation and seasonality in 3Q21
• •D&A increase in 4Q21 mainly due to software and hardware impairments

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

Provisionsand other items

The FY21 cost of risk (excluding additional LLPs) is 67 bps and reflects a very conservative approach to provisioning

	F Y2 1	/w o Q 1 21	/w o Q 2 21	/w o Q 3 21	/w o Q 4 21
l To Pr is ion ta ov s	83 8.0	8. 8 4 1	6 15 7.	8. 8 13	8 12 2.
/w L L Ps ** o	83 9. 1	4 17. 7	15 9. 2	13 7. 2	125 .0
fo is ion is ks d ha Ne Pr R C t ov s r an rg es	80 .7	4 0.9	6 9.	4. 5	25 .7
bu Co i ion S R F, D G S e F I T D- S V nt t to r s	13 3. 7	3 1.1	15 .1	80 .0	6 7.
( ) Ga ins Lo inv tm ts ss es on es en	83 2 .3	25 0.7	6 2.	6 2.	27 .4
dw l l Ba i	8 -1, 12 7.	-1, 07 7. 9	-7 2.1	22 .1	-

Quarterly 417.7Additional LLPsOrdinary LLPs159.20.21% 0.18% 0.16%

• LLPs at 839.1 €mln, including 310 €mln in additional provisions driven by the adoption of a very conservative approach, despite no evidence of a significant deterioration in asset quality

0.55%

Cost of credit

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

Agenda

BPER GROUP CONSOLIDATED RESULTS

Executive summary

Balance sheet

Profit and loss

Capital adequacy

Final remarks

ANNEXES

Capital

High capital position with Pro-forma Fully Phased CET1 at 13.50% well above SREP requirement

Note: Pro-forma Fully Phased CET1 ratio has been estimated excluding the effects of the transitional arrangements in force. Pro-forma capital ratios include the result for the year, 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 effects

Agenda

BPER GROUP CONSOLIDATED RESULTS

Executive summary

Balance sheet

Profit and loss

Capital adequacy

Final remarks

ANNEXES

SIGNIFICANTLY STRONGER COMPETITIVE POSITION COUPLED WITH A MAJOR IMPROVEMENT IN OVERALL RISK PROFILE

STRONG INCREASE IN CORE BUSINESS PROFITABILITY DRIVEN BY EXCELLENT COMMERCIAL PERFORMANCE

NPE RATIOS DECLINING SIGNIFICANTLY AS COVERAGE GROWS

STRONG CAPITAL POSITION WELL ABOVE SREP REQUIREMENTS

FOUNDATIONS LAID FOR STRUCTURAL IMPROVEMENT OF OPERATING EFFICIENCY

THE STRONG RESULTS ACHIEVED IN TERMS OF PROFITABILITY, ASSET QUALITY AND CAPITAL POSITION, SET THE STAGE FOR THE GROUP'S NEW 2022-2024 BUSINESS PLAN AND WILL ALLOW FOR ADDITIONAL VALUE GENERATION TO THE BENEFIT OF ALL STAKEHOLDERS

Agenda

BPER GROUP CONSOLIDATED RESULTS

Executive summary

Balance sheet

Profit and loss

Capital adequacy

Final remarks

ANNEXES

Liquidity

High level of liquidity with LCR >200% and liquidity buffer close to 31.1 €bn

Eligible Assets Pool Composition (%)

Total eligible Assets over time* (€mln)

• •ECB exposure of 18.4 €bn fully made up of TLTRO III funds
• •LCR >200% largely in excess of regulatory threshold, with the NSFR ratio settling well above 100%

P&L –One off items

112.9 €mln one offs recognised in FY21 mainly following going concern acquisition and cost base optimisation

( ln ) €m	M2 9 1	Q 4 21	F Y2 1	F Y2 No te 1 s
in inc Ne t te t res om e	-	-	-
iss ion inc Ne t c om m om e	-	-	-
Co Inc re om e	-	-	-
de ds D iv i n	-	-	-
fro f l a Ne inc ina ia iv i ies t t t om e m nc c	+2 1.2		+2 1.2	ly fro d ls Ga ins in i ies isp t m a m se cu r os a
he O ing / inc t t r o p era ex p en se s om e	-13 .0		-13 .0	he O ing t t r o p era ex p en se s
Op ing Inc t era om e	8.2 +	-	8.2 +
f f c S ta ts os	8.0 -1	-21 0.0	8.0 -22	ln d - ln k fo 8 €m in ion €m im isa ion te t t t t -1 g ra p roc es s a n 21 0.0 wo r rce op co s
he dm O in is ive t tra t r a ex p en se s	8 -7 5.	-8. 0	-83 8	In ion te t g ra p roc es s
De ia ion & Am iza ion t t t p rec s or s	-8. 9	-67 .4	6.4 -7	ly la d f d ha dw Ma in im irm te to tw ts re so are an r are p a en
ing Op t ts era co s	-10 2.7	85 -2 .4	8 8.2 -3
Ne Op ing Inc t t er a om e	6 -9 4.	85 -2 .4	80 -3 .0
los fo d k Ne im irm i is t t t r p a en se s r c re	-3 10 .0	-	-3 10 .0	d d i ion l A L L Ps t a
fo ks d c ha Ne is ion is t p rov s r r an rg es	-3 0.5	6. 8 +	8 -23	ly la d f ha Ma in C A R I F E 's i ing te to t s re p ro r
i bu ion ds ( ) Co Fu S R F, D G S, F I T D- S V tr t to n n	.3 -11		.3 -11	d d l bu A i ion S R F c i ion t tr t a on
( ) Ga in Lo Inv tm ts sse s on es en	61 -2 .5	8.4 -2	89 8 -2	ln du dw l l d - ln ly du fa lue f €m i im irm €m in ir v R E a to t a to t o ts -23 0.4 e g oo p a en n 5 9. 5 ma e a m ea su rem en sse
Ga in ba in ha on a rg a p urc se	8 +1 127		8 +1 127	1 fro f ln ba dw l l a d + ln ba dw i l l ion 81 €m i €m tax t + n m rec ov ery o a 7. 7 3 10 .2
f fo i ( los ) be Pr t tax o s re es	+4 20 .0	-3 07 .1	+1 12 .9

1. As per contractual provisions with Intesa Sanpaolo. The item had a neutral impact on the net result as it was offset by -310.2 €mln recognised as Taxes

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

Net Customerloans

Portfolio composition

Bu in to s es s s ec r	De c 2 1	l To ta % on Cu to s m er Lo an s	Δ % De vs c 2 0
f M i t a nu a c u r n g	6 6 1 2, 9	6. 1 0 %	6 + 5. 2 %
h l l d l W i i t o e s a e a n r e a s e rv c e s, d i i r e c o v e r e s a n r e p a r s	6, 8 4 3	8. 6 %	+5 4. 3 %
C i t t o n s ru c o n	8 3, 1 0	4. 0 %	+4 7. 5 %
l R E t t e a s a e	6 4, 15	5. 3 %	+3 3. 3 %
H O R E C A *	8 3 1, 7	2. 3 %	+2 3. 2 %
l f d f h A i i i t t g r c u u r e, o r e s ry a n s n g	1, 0 4 1	1. 3 %	+3 1.5 %
h O t e r	8, 9 3 4	3 % 11.	+5 3 % 1.
l l f l T i i t t o a o a n s o n o n- n a n c a b i u s n e s s e s	8, 6 6 3 9	8. 4 9 %	+5 1. 2 %
h l d H o s e o s u	3 0 3 4, 5	6 3. % 4	6 +5 % 7.
f l l l b T i i i t t o a o a n s o n a n c a u s n e s s e s	5, 9 4 1	7. 5 %	+7 3 %
l T C L t t o a s o m e r o a n s u	3 9, 7 11	0 0. 0 % 1	+4 9. 3 %
b D S i i t t e e c u r e s	8 14 7 2 ,	8. 1 7 %	6. +1 2 %

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)

( ln ) Gr €m os s e xp os ure s	De c 2 0		M ar 21		J un 21		Se p 21		De c 2 1		hg C Q / Q		hg C Y / Y
		co mp . %		co mp . %		co mp . %		co mp . %		co mp . %	bs A	hg ( ) C %	bs A	hg ( ) C %
fo ( ) No Pe ing Ex N P Es n r rm p os ure s	4, 3 4 3	8% 7.	8 4, 7 7	6.1 %	0 4, 4 7	5. 7 %	83 4, 3	5. 5 %	4, 02 5	4. 9 %	8 -3 5	-8. 2%	8 -3 1	-7. 3 %
d loa Ba ns	6 2, 07	3. % 7	6 8 2, 3	3. 0%	2, 3 1 4	3. 0%	2, 3 0 5	3. 0%	2, 01 4	2.5 %	6 -3 3	.3 % -14	-62	-3. 0%
l ke ly loa Un i to p ay ns	2, 125	8% 3.	80 2, 2	2.9 %	4 1, 9 9	2.5 %	87 1, 3	2.4 %	8 83 1,	2.3 %	10	+0 .5 %	-24 2	-11 .4 %
du loa Pa t s e ns	2 14	0.3 %	13 0	0.2 %	13 5	0.2 %	60 1	0.2 %	8 12	0.2 %	-3 2	-20 .0%	-14	-9. 9 %
fo loa Gr ing os s p er rm ns	8 5 1, 04	9 2.2 %	7 3, 3 3 9	9 3. 9 %	82 7 4, 5	9 4. 3 %	6 6 7 4, 9	9 4. 5 %	64 7 7, 9	9 5. 1%	8 2, 9 9	+4 .0%	6, 6 2 9 1	+5 2.7 %
l g To ta ros s e xp os ure s	5 5, 3 9 1	10 0%	8, 7 117	10 0%	7 2 9, 05	10 0%	7 9, 3 4 9	10 0%	81, 89 9	10 0%	64 2, 0	+3 .3 %	6, 8 2 5 9	8.0 +4 %

d j loa ( €m ln ) A De tm ts to us en ns c 2 0			M ar 21		J un 21		Se p 21		De c 2 1		C hg Q Q /		C hg Y / Y
	( co ve rag e %		) ( ) co ve rag e %		( ) co ve rag e %		( ) co ve rag e %		( ) co ve rag e %		bs A	C hg ( ) %	bs A	C hg ( ) %
d A j N P Es tm ts to us en	2, 213	5 1.0 %	67 2, 3	4 9. 5 %	17 2, 3	8% 5 1.	2, 4 25	5 5. 3 %	2, 4 29	60 .4 %	4	0.2 %	6 21	8% +9
d loa Ba ns	1, 3 4 9	65 .0%	1, 3 7 0	8% 5 7.	25 1, 4	60 .9 %	80 1, 4	63 .0%	1, 4 4 7	8% 7 1.	-3 3	-2. 2%	8 9	+7 .3 %
l ke ly loa Un i to p ay ns	83 1	3 9. 1%	63 9	4 2.2 %	8 85	4 3. 1%	8 9 0	8.4 4 %	9 4 9	5 0.4 %	4 2	6% +4	8 11	+1 4. 2%
du loa Pa t s e ns	3 3	22 % .4	3 4	6.1 2 %	3 4	24 .9 %	8 3	23 .9 %	3 3	25 .9 %	-5	-13 .2%	0	+0 .0%
fo d j ing loa A tm ts to us en p er rm ns	17 2	0.3 %	83 3	0.5 %	5 4 4	6% 0.	4 4 1	6% 0.	4 4 7	6% 0.	6	+1 .4 %	27 5	+1 5 9. 9 %
l a d To j ta tm ts us en	85 2, 3	4. 3 %	2, 7 5 0	3. 5 %	62 2, 7	3. 5 %	8 67 2,	6% 3.	87 6 2,	3. 5 %	10	+0 .3 %	4 9 1	6% +2 0.

( €m ln ) Ne t e xp os ure s	De c 2 0		M ar 21		J un 21		Se p 21		De c 2 1		C hg Q Q /		C hg Y / Y
		co mp . %		co mp . %		co mp . %		co mp . %		co mp . %	bs A	C hg ( ) %	bs A	C hg ( ) %
fo ( ) No Pe ing Ex N P Es n r rm p os ure s	2, 13 0	4. 0%	2, 4 11	3. 2%	3 2, 15	8% 2.	1, 9 5 7	6% 2.	6 1, 5 9	2.0 %	62 -3	8.5 -1 %	-5 3 4	-25 .1%
d loa Ba ns	7 27	1.4 %	8 9 9	1.3 %	6 9 1	1.2 %	87 0	1.1%	67 5	0.7 %	-3 03	8% -3 4.	60 -1	-22 .0%
l ke ly loa Un i to p ay ns	1, 29 4	2.4 %	1, 3 17	1.7 %	6 1, 13	1.5 %	65 9	1.3 %	9 3 4	1.2 %	-3 2	-3. 3 %	60 -3	8% -27
du loa Pa t s e ns	10 9	0.2 %	6 9	0.1 %	10 1	0.1 %	122	0.2 %	9 5	0.1 %	-27	-22 .1%	-14	8% -12
fo loa Ne ing t p er rm ns	87 6 5 0,	6.0 9 %	6 7 2, 9 5	6. 8% 9	7 7 4, 13	9 7. 2%	7 4, 5 25	9 7. 4 %	7 7, 5 17	8.0 9 %	2, 9 9 2	+4 .0%	6, 64 2 1	+5 2.4 %
l n To ta t e e xp os ure s	6 5 3, 00	10 0%	67 7 5, 3	10 0%	6, 7 29 0	10 0%	6, 82 7 4	10 0%	7 9, 113	10 0%	63 2, 0	+3 .4 %	6, 2 10 7	+4 9. 3 %

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

Financial Assets: highlights

18.3

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

32

Italy68.5%

Dec 20 Dec 21 Wholesale bonds 3.5 3.9 o/w covered bonds 1.9 1.9 o/w subordinated bonds 0.9 0.9 Retail bonds 1.0 0.9 Total bonds 4.5 4.8 Bond maturities and issuances: highlights

Outstanding bonds¹ (€bn)

2022 Bond maturities (€bn)

Annexes

Bond maturities breakdown (€bn) Total figures4.8 €/bn0.28 0.2 0.2 0.20.10 0.51.4 0.80.50.61.130.70.20.52.22022 ^{2023 2024 2025} beyond Retail WholesaleCovered Bond

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 Aristotele, 195 - 41126 Modena - Italy

+39 059 2021396

Nicola SponghiInvestor Relations

Via Aristotele, 195 - 41126 Modena - Italy

• +39 059 2022219
• nicola.sponghi@bper.it