FinecoBank — Investor Presentation 2022

May 10, 2022

Alessandro Foti CEO and General Manager

1Q22 Results

FINECO. SIMPLIFYING BANKING.

Milan, May 10th 2022

Disclaimer

• This Presentation may contain written and oral "forward-looking statements", which includes all statements that do not relate solely to historical or current facts and which are therefore inherently uncertain. All forward-looking statements rely on a number of assumptions, expectations, projections and provisional data concerning future events and are subject to a number of uncertainties and other factors, many of which are outside the control of FinecoBank S.p.A. (the "Company"). There are a variety of factors that may cause actual results and performance to be materially different from the explicit or implicit contents of any forward-looking statements and thus, such forward-looking statements are not a reliable indicator of future performance. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable law. The information and opinions contained in this Presentation are provided as at the date hereof and are subject to change without notice. Neither this Presentation nor any part of it nor the fact of its distribution may form the basis of, or be relied on or in connection with, any contract or investment decision.
• The information, statements and opinions contained in this Presentation are for information purposes only and do not constitute a public offer under any applicable legislation or an offer to sell or solicitation of an offer to purchase or subscribe for securities or financial instruments or any advice or recommendation with respect to such securities or other financial instruments. None of the securities referred to herein have been, or will be, registered under the U.S. Securities Act of 1933, as amended, or the securities laws of any state or other jurisdiction of the United States or in Australia, Canada or Japan or any other jurisdiction where such an offer or solicitation would be unlawful (the "Other Countries"), and there will be no public offer of any such securities in the United States. This Presentation does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States or the Other Countries.
• Pursuant the consolidated law on financial intermediation of 24 February 1998 (article 154-bis, paragraph 2) Lorena Pelliciari, in her capacity as manager responsible for the preparation of the Company's financial reports declares that the accounting information contained in this Presentation reflects FinecoBank's documented results, financial accounts and accounting records.
• This Presentation has been prepared on a voluntary basis in order to ensure continuity with the previous quarterly reports, following the removal of the requirement to disclose additional financial information to the half-year and annual reports pursuant to the Legislative Decree no. 25/2016, issued in application of Directive 2013/50/EU. Since the financial disclosure additional to the half-year and annual ones is no longer compulsory pursuant to law 25/2016 in application of Directive 2013/50/EU, in order to grant continuity with the previous quarterly presentations. FinecoBank is therefore not bound to prepare similar presentations in the future, unless where provided by law. Neither the Company nor any of its representatives, directors or employees shall be liable at any time in connection with this Presentation or any of its contents for any indirect or incidental damages including, but not limited to, loss of profits or loss of opportunity, or any other liability whatsoever which may arise in connection of any use and/or reliance placed on it.
• For the above-mentioned purposes, "Presentation" means this document, and any oral presentation, any question-and-answer session and any written or oral material discussed following the distribution of this document. By participating to this Presentation and accepting a copy of this Presentation, you agree to be bound by the foregoing limitations regarding the information disclosed in this Presentation.

Agenda

Next steps

Fineco UK

Key messages

A new market structure enlarging our growth opportunities

A structurally higher profitability and capital light business model, leading to higher DPS and to invest in our growth

The current environment has significantly changed

Acceleration of structural trends reshaping our society

• Increasing demand for advice
• Increasing digitalization
• Consolidation in traditional banking system

New interest rates environment (1)

+45 bps on 2022 AVG Euribor 3M vs beginning of the year +149 bps expected at the end of 2022 on BTP 10Y vs beginning of the year

+114 bps on 2022 AVG EURIRS 10Y vs beginning of the year

Fineco as a fully-fledged Platform benefitting from the new market structure

Net Financial Income:

Expected strong increase vs recent past

Thanks to the strong gearing to the interest rates of our quality and capital light NII: driven by our clients' valuable transactional liquidity and not by lending as for other banks

Investing:

Strong results in a challenging environment thanks to robust inflows and FAM

Inflows driven by structural trends, top-quality product offer and fair pricing. Growing contribution by FAM, which is taking a higher control of the value chain

Brokerage:

Higher floor thanks to our quality target market and business model

Target market focused on wealthy and financially aware clients and our one-stopsolution business model

Executive Summary

Successful growth story: becoming more a Platform than a Bank, with the 3 product areas of our business model firing at once

Delivering strong net profit in every market condition

• 1Q22 adj. Net Profit at 124 mln, +30.5% y/y(1) , confirming the sustainability of our diversified business model
• 1Q22 adj. Revenues at 256 mln, +23% y/y(1) mainly supported by Investing (+28% y/y) thanks to volume effect and to the strong acceleration of AUM flows. Brokerage confirmed a structurally higher floor compared to pre-pandemic levels
• Operating Costs well under control at -69 mln, +4.1% y/y, excluding costs related to the acceleration of the growth of the business(2)
• Strong operating leverage confirmed a key strength of the Bank. Adj. C/I ratio at 27%

Growth of the Balance Sheet comfortably under control

Thanks to new initiatives: boosting Fees to increase Revenues with a better mix

Strong capital position

CET1 ratio at 19.3%,TCR at 30.0%, Leverage ratio at 3.99%

Accelerating commercial activity towards AUM

• Net sales in 1Q22 at 2.8 bn, o/w AUM at 0.9 bn. TFA at 106.8 bn with Asset under Management at 53.7 bn (+12% y/y) and the penetration of Guided products on Asset under Management at 76%
• Fineco Asset Management 1Q22 TFA at 25.6bn (+43% y/y)(3) . Net Sales:
  • Retail: 0.8 bn (+6% y/y)
  • Funds underlyings of wrappers (Institutional classes): 1.1 bn (+157% y/y), as our management company is taking more control of the investing value chain
• April: Strong net sales at 1.0bn, o/w AUM 0.4bn and AUC 0.6bn. Brokerage revenues estimated at ~14mln (~24% higher vs average monthly revenues in 2017-2019 y/y)

(1) 2022 non recurring items: 1Q22 -0.3 mln gross (-0.2 mln net) due to Voluntary Scheme; 2021 non recurring items: 4Q21 -0.7 mln gross (-0.5 mln net) due to Voluntary Scheme; 2Q21 realignment of the intangible assets: 32 mln net (2)Excluding costs strictly related to the growth of the business, mainly FAM (-1.7 mln y/y) and marketing (-1.6 mln y/y)

Delivering strong Net Profit in every market condition

Adj. Net Profit at 123.6mln, +30.5% y/y boosted by strong acceleration of Investing, confirming the effectiveness of our initiatives, and by robust Net Financial Income. Strong operating leverage confirmed

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(1) 2022 non recurring items: 1Q22 -0.3 mln gross (-0.2 mln net) due to Voluntary Scheme; 2021 non recurring items: 4Q21 -0.7 mln gross (-0.5 mln net) due to Voluntary Scheme; 2Q21 realignment of the intangible assets: 32 mln net (2) Adj. Cost/Income and Adj. RoE calculated net of non recurring items. ROE calculated as: annualized adj.net profit divided by average book equity for the period (excl. dividends for which distribution is expected and valuation reserves) (3) Excluding costs strictly related to the growth of the business, mainly FAM (-1.7 mln y/y) and marketing (-1.6 mln y/y)

Revenues growth supported by all our initiatives

Boosting Non Financial Income, thus becoming more a Platform than a Bank. More dynamic Treasury management sustaining Net Financial Income

(1) NII gross margins: interest income related to financial investments, lending, leverage, security lending, other trading activities on interest-earning assets

(2) Total yield: net financial income related to interest-earning assets

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(3) Sum of brokerage commissions and Trading income (net of Profit from Treasury Management)

Our priority: accelerating on Investing

1Q22 revenues increasing y/y thanks to volume effect and strong acceleration in AUM net sales. Improving margins thanks to the higher control on the Investing value chain through FAM and higher risk appetite by clients. Quarterly comparison characterized by usual seasonality on PFA and FAM

Cost efficiency and operating leverage confirmed in our DNA

(1) Excluding costs strictly related to the growth of the business in 1Q22, mainly: FAM (-1.7mln y/y, o/w -0.8mln y/y related to Staff Expenses and -0.9mln y/y related to Non HR Cost) and marketing (-1.6 mln y/y)

High quality lending

Offered exclusively to the existing base of clients, leveraging on our internal Big Data analytics

Cost of Risk on commercial loans (2)

• Cost of Risk well under control thanks to the constant improvement in the quality of the credit which is mainly secured and low risk
• We confirm our strategy aims to build a safe lending portfolio, offering these products exclusively to our very well known base of clients, leveraging on a deep internal IT culture, powerful data warehouse system and Big Data analytics
• NPE at 22.9 mln with a coverage ratio at 83%, NPE ratio at 0.42%
• LLP equal to 0.8 mln in 1Q22 (0.5 mln in 1Q21)
• Less than 300 mortgages moratories have been granted until now, o/w only less than 10 are active

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Capital Ratios

Best in class capital position and low risk balance sheet

(1) Following declarations by ECB (18th June 2021) and Bank of Italy (30th June 2021) to temporarily allow banks until March 2022 to exclude central bank exposures from their leverage ratio in exceptional macroeconomic circumstances

TFA breakdown

Successful shift towards high added value products thanks to strong productivity of the network

AuC and Deposits under advisory have been reclassified within AuM in order to have a better representation of the advisory nature of Advice and Plus services

Net sales breakdown

High quality net sales growth, on the wave of structural trends thanks to our diversified business model

PFA Network – total Net Sales, bn

Net sales organically driven key in our strategy of growth

The structure of recruiting is changing: more interest in the quality of the business model by PFAs

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Increasing quality and productivity of the Network

Clients' profile and focus on Private Banking

Agenda

Fineco Results

Fineco UK

2022 Guidance and outlook going forward

BANKING REVENUES:

Net financial income (net interest income and Profit from Treasury management)

For FY22: expected in a range between 300-310 mln with the current forward rate curve

Going forward: we expect NII to significantly benefit from the new interest rates scenario thanks to the sensitivity and to the volume increase

Banking fees:

For FY22 expected above 50mln

Going forward: expected to keep on growing thanks to the increase of the client base and previous repricing

INVESTING REVENUES:

For FY22:

• o Revenues expected to increase around mid-teens y/y, already including the negative market effect up to April
• o Higher management fees margins y/y
• o AUM net sales at around 5 bn (FAM retail net sales at around 5 bn)
• o PFAs: net increase in a range of 100-120 PFAs expected

Going forward: strong acceleration in revenues and margins expected thanks to:

• 1) A further increase in our network productivity leading to higher volumes (AUM net sales expected at around ~6bn per year)
• 2) The implementation of the strategic discontinuity in Fineco Asset Management, which is going to increase its penetration in Fineco AUM, with retail net sales expected at around ~6bn per year

This is expected to generate a progressive increase of Fineco management fees margins after-tax up to ~55bps in 2024 (margins pre-tax ~75bps). Based on the most recent numbers, we expect to reach that level before than 2024

BROKERAGE REVENUES: countercyclical business, it is expected to remain strong with a floor - in relative terms with respect to volatility - definitely higher than in the pre-Covid period

OPERATING COSTS:

For FY22: expected to grow around 5% y/y, not including ~7 million of additional costs related to FAM strategic discontinuity to improve the efficiency of the Investing value chain. We will consider in the coming months the possibility to further accelerate the marketing expenses to take advantage by the strengthening of the structural trends.

Going forward we expect FAM costs to stabilize

• COST / INCOME: we confirm our guidance on a continuously declining cost/income in the long-run thanks to the scalability of our platform and to the strong operating gearing we have (excluding potential higher marketing expenses)
• SYSTEMIC CHARGES: in a range -42/44mln of DGS+SRF in provisions for risk and charges
• TAX RATE: for 2022 in a range -0.5/-1 p.p. considering the most recent interest rates scenario
• CAPITAL RATIOS: CET1 floor at 17%, Leverage Ratio very well under control and in a range 3.5%-4.0% (for details see slide 52 in Annex)
• DPS: going forward we expect a constantly increasing dividend per share
• COST OF RISK: below 10 basis points in 2022 thanks to the quality of our portfolio
• NET SALES: robust, high quality and with a mix mainly skewed towards Asset under Management thanks to the new initiatives we are undertaking (see next slides)

Delivering on our discontinuities

Set of initiatives to improve our revenues mix, taking advantage from the acceleration of structural trends and our FinTech DNA

INITIATIVES TO KEEP UNDER CONTROL OUR BALANCE SHEET

3

STRONG COMMERCIAL FOCUS ON AUM:

targeting only AUM net sales and solutions with a strong RISK MANAGEMENT. FAM already best-positioned thanks to the hightransparency and daily look-through on its solutions

2 WIDER PRODUCT RANGE TO FULLY CATCH THE WHOLE SPECTRUM OF CLIENTS' NEEDS ALSO THANKS TO FAM

- Decumulation products key to move clients from liquidity towards AUM: our wide gamma of FAM Target (~40 decumulation vehicles) fits all investment needs

1

• New FAM offer: launch of investment solutions based on passive funds with diversified solutions based on different risk profiles. Thanks to the full control of the value chain, FAM can at the same time both offer an efficient pricing for clients and retain higher margins: this will allow Fineco to be perfectly positioned to catch the long-term trend of passives and to better target Private Banking clients.
• Coming soon: FAM ETF offer
• Pension funds for risk-averse clients
• Distribution of third-parties savings accounts live to lower the amount of liquidity held by clients with no intention to invest

ROBUST ACCELERATION IN PFAs PRODUCTIVITY through:

- New software developments dedicated to our advisory services to improve PFAs productivity in transforming deposits in AUM leveraging on Big Data Analytics capabilities

• New marketing campaigning tool in deployment phase. Coming soon: new Investing homepage fed with dedicated contents to stimulate clients activity; coupled with our Big Data analytics, this will make it easier for our PFAs to propose tailor-made solutions for their long-term goals

4 IMPROVE THE QUALITY OF OUR CLIENT BASE:

Exploiting our pricing power: more selective in our client acquisition thanks to the 2021 repricing on new current accounts (€6.95 euro per month with the possibility of a full bonus on the fee according to clients' activity with the Bank)

FAM: delivering on the strategic discontinuity

Key to sustain AUM margins thanks to its strong operating leverage and to a more efficient value chain

INVESTING

• Thanks to the full control of the value chain, FAM can offer at the same time both an efficient pricing for clients and retain higher margins
• FAM has launched its investment solutions based on passive funds with diversified solutions and different risk profiles.
• Following the strong success of the ESG Target Global Coupon strategy, FAM has launched a new release of the solution
• Continuous widening of sustainable offer through the launch of new investment solutions under SFDR art. 8 and 9

Brokerage: higher floor as the structure of the market is changing

Increased interest in financial markets by clients and big jump into a more digitalized society

Structural growth in brokerage revenues: the floor has gone up in a clear way regardless of volatility

Continuous reshape of brokerage offer: now live with crypto offer and certificates

Live with Crypto offer on Bitcoin and Ethereum (through CFDs, options and listed ETPs) with our usual strict and rigorous target market

Live with the Turbo Leveraged certificates platform listed on Hi-MTF, thus allowing us to extract value from the vertical integration of the business (i.e. recent extension of the trading time horizon up to 11.00 pm). Next steps: completing leveraged certificates offer and study-phase of Investment certificates

COMING SOON:

Release of the new Trading homepage allowing clients to approach in an easier way opportunities through our brokerage platform. Release of new trading platform in 3Q22

BROKERAGE

Brokerage: enlargement of client base and increased market share BROKERAGE

Client base growth mainly driven by "Active investors" starting to use brokerage platform and "sleeping" clients back on the market. New clients are coming from traditional banks

Active investors: less than 20 trades per month

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Agenda

Fineco Results

Next steps

Key messages

Fineco UK gaining traction

Strong acceleration in our quality customer acquisition translating in improving revenues dynamics

24

Fineco UK: Investing in the spotlight

ISA accounts offer, already ~2,000 subscriptions. Next step: improving our user experience

Agenda

Fineco Results

Next steps

Fineco UK

Long term sustainability at the heart of Fineco business model (1/3)

We are a looking-forward organization playing for the long-run and able to generate a positive impact for all our stakeholders and the society as a whole

Our corporate purpose: to offer clients a quality and one-stop-solution with a fair pricing leveraging on our 3 pillars

TRANSPARENCY

Fairness and respect for all our stakeholders

• FAM as a champion of ESG: PERFORMANCE FEES FREE trademark
• FAIR PRICING
• LOW UPFRONT FEES (only ~2% of Investing fees)

EFFICIENCY

Fintech DNA: strong focus on IT & Operations, more flexibility, less costs

• Delivering BEST-IN-CLASS CUSTOMER EXPERIENCE
• SHARING FAM BENEFITS WITH CLIENTS: better quality and timely products with lower TER

INNOVATION Quality offer for highly SATISFIED CLIENTS

NO short-term AGGRESSIVE COMMERCIAL OFFERS and ZERO REMUNERATION on current accounts

Focus on ORGANIC GROWTH

Long term sustainability at the heart of Fineco business model (2/3)

We are a looking-forward organization playing for the long-run and able to generate a positive impact for all our stakeholders and the society as a whole

Sustainable since inception

MARKET FRIENDLY CORPORATE GOVERANCE:

• Up to 3 lists for Board renewal
• 10 independent Board members out of 11, o/w 55% women: 1 st FTSE MIB company with a predominance of women on the Board
• In 2020 AGM, 86% voted for the outgoing Board list proposal
• In 2022 AGM, 91% voted for 2022 remuneration policy

Ramping up the GOVERNANCE OF SUSTAINABILITY:

• Sustainability Committee at Board and Managerial level
• Sustainability Team within CFO Department
• Sustainability Compliance model with specialised oversights on non-financial reporting, other sustainability obligations and environmental protection

GOVERNANCE STRATEGY & GOALS INITIATIVES & KPIs

• FOCUS on Cyber-Security and ESG risks leveraging on FINTECH DNA
• Set of ESG objectives to be pursued by 2023 within 6 business areas: Human Resources, Responsible Finance, Financial Education and Community Support, Supply Chain, Shareholders and Environment.
• ESG target included in the Identified Staff Scorecard since 2016, related to STI.
• ESG targets included in the 2021-2023 Long Term Incentive Plan of the CEO and Identified Staff within the "Stakeholder Value" goal:

KPI	TARGET	MEASUREMENT CRITERIA
Customer satisfaction	Average 2021-2023	TRI*M Index(1)
People engagement	Average 2021-2023	People Survey
ESG rating for funds(2) all new	EOY 2023	% of new funds with ESG evaluation

Broad ESG product offer(3) both on:

• Investing (i.e., 81% of funds have ESG rating by Morningstar; 52% of funds distributed and 36% of FAM funds are classified under Art. 8 or 9 of SFDR(4) )
• and Banking & Credit ("Green mortgages", Ecobonus and Sismabonus; zero-fee account until age 30).
• Bank's contribution to the PFA Network to obtain the EFPA ESG certification
• FinecoBank has signed the UN Global Compact and UN Principles for Responsible Banking
• Fineco AM has signed the UN Principles for Responsible Investing
• Environmental Management System implemented, in line with the EU Eco-Management and Audit Scheme (EMAS) [certification pending]

(1) The index captures the strength of the relationship with the customer defined as performance but also as the degree of preference towards the brand (2) Excluding UK, which represents a new market for Fineco.

(3) As of 31st March 2022. (4) Regulation EU 2019/2088 - Sustainable Finance Disclosure Regulation.

Long term sustainability at the heart of Fineco business model (3/3)

We are a looking-forward organization playing for the long-run and able to generate a positive impact for all our stakeholders and the society as a whole

(1) Moody's ESG Solutions is the source of this ESG score

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(2) The "MSCI Implied Temperature Rise" rating has been made available by the rating agency since the year 2021

Fineco as a profitable FinTech Bank: ICT a key business driver

Leveraging on a deep-rooted internal know-how to expand platform scalability and operating gearing

Healthy and sustainable growth with a long term horizon

31 (1) Figures adjusted by non recurring items and Net Profit adjusted net of systemic charges (FY15: -3.1mln net, FY16: -7.1mln net, FY17: -7.1mln net, FY18: -9.6mln net, FY19: -12.1 mln net, 1Q20: -0.3mln gross, -0.2mln net, 2Q20: -0.7mln gross, -0.4mln net; 3Q20: - 28.0mln gross, -18.7mln net; 4Q20: +2.1mln gross, +1.4mln net; 1Q21: -5.8mln gross, -3.9mln net; 2Q21: -1.9mln gross, -1.3 mln net; 3Q21: -30.0mln gross, -20.1mln net; 4Q21: -2.3mln gross, -1.6mln net; 1Q22: -7.7mln gross, -5.2mln net).

Safe Balance Sheet: simple, highly liquid

Diversified investment portfolio

• Investment strategy announced during FY17 results unchanged: UC bonds runoffs, blend of government bonds diversified across countries, covered bonds, supranational and agencies
• 99.9% not exposed to volatility with no impact in our P&L and BS by the widening of spreads. HTC classification since November 2016
• Avg maturity at ~ 5/6 years. Overall portfolio duration: 3.1 years

High-quality lending growth

• Lending offered exclusively to our well-known base of clients
• Low-risk: CoR at 3bps, cautious approach on mortgages (LTV ~51%, avg maturity 19 yrs)
• Strong competitive advantage leveraging on Big Data Analytics and internal IT culture (resulting in unmatched user experience and high customer satisfaction), continuous in-house innovation (i.e. look-through implementation with significant benefits on CET1 ratio), ownership and control of critical infrastructure

Rock-solid capital position

(2) Following declarations by ECB (18th June 2021) and Bank of Italy (30th June 2021) to temporarily allow banks to exclude central bank exposures from their leverage ratio in exceptional macroeconomic circumstances, starting from June 21 we temporary excluded

exposures towards Central Banks from the total exposures (according to art. 429a – CRR). Without this exclusion exposures would be: 3.80%

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⁽¹⁾ Due from banks includes 1.5bn cash deposited at Bank of Italy and 0.3bn bank current accounts as of Mar.2022

Total assets: 99.9% not exposed to volatility in the Balance Sheet

Out of 35.4bn, only 0.03bn of assets at fair value with very limited impacts on Equity reserve

(1) Due from banks includes 1.5bn cash deposited at Bank of Italy and 0.3bn bank current accounts as of Mar.2022

(2) Other refers to tangible and intangible assets, derivatives and other assets

(3) 22.3bn equal to 21.7bn nominal value, o/w Italy 7.7bn nominal value

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(4) Other: Austria, Belgium, Germany, Portugal, United Kingdom, Switzerland, Chile, Saudi Arabia, China, Iceland, Latvia

Agenda

Fineco Results

Next steps

Fineco UK

Key messages

Focus on product areas

Revenues by Product Area

Well diversified stream of revenues allow the bank to successfully face any market environment

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Banking

Sound performance and relentless clients' acquisition, thanks to high quality services and best-in-class customer satisfaction

Managerial Data

Brokerage

Structurally higher revenues floor compared to pre-pandemic levels

Managerial Data

(1) Volatility calculated as avg weekly volatility of BUND, BTP, SP, EUROSTOXX, MINIDAX, DAX, FIB, MINIFIB, NASDAQ, DOW weighted on volumes related to futures traded by our clients

Investing

Increasing revenues y/y thanks to a successful strategy based on our cyborg advisory approach. Very limited upfront fees, representing only ~2% of Investing fees

Annex

P&L pro-forma

P&L pro-forma(1)

mln	1Q21	2Q21	3Q21	4Q21	FY21	1Q22
Net financial income	75.1	72.8	69.2	62.9	280.0	107.5
o/w Net Interest Income	61.8	62.5	61.8	61.8	247.9	59.3
o/w Profit from treasury management	13.2	10.3	7.4	1.1	32.1	48.1
Net commissions	108.1	106.3	110.1	126.4	450.8	118.6
Trading profit	23.9	16.7	15.6	18.1	74.3	29.0
Other expenses/income	0.5	0.1	-1.5	-0.5	-1.3	0.4
Total revenues	207.6	195.9	193.5	206.9	803.8	255.4
Staff expenses	-26.2	-26.7	-27.4	-29.3	-109.6	-28.3
Other admin.exp. net of recoveries	-30.6	-29.9	-27.6	-34.9	-123.1	-34.0
D&A	-6.3	-6.4	-6.4	-7.1	-26.2	-6.6
Operating expenses	-63.1	-63.0	-61.5	-71.3	-258.9	-69.0
Gross operating profit	144.4	132.9	132.0	135.5	544.9	186.4
Provisions	-8.2	-5.8	-31.1	-4.9	-49.9	-10.2
o/w Systemic charges	-5.8	-1.9	-30.0	-2.3	-40.0	-7.7
LLP	-0.5	-1.2	-0.4	0.4	-1.7	-0.8
Profit from investments	-0.6	1.8	0.3	-0.4	1.1	-0.6
Profit before taxes	135.2	127.7	100.9	130.6	494.4	174.8
Income taxes	-40.4	-5.8	-28.3	-39.2	-113.7	-51.4
Net profit for the period	94.7	121.9	72.6	91.5	380.7	123.5
Net profit adjusted (2)	94.7	89.9	72.6	91.9	349.2	123.6
Non recurring items (mln, gross)	1Q21	2Q21	3Q21	4Q21	FY21	1Q22
(3) Extraord systemic charges (Trading Profit)	0.0	0.0	0.0	-0.7	-0.7	-0.3
Realignment of Intangible Assets	0.0	32.0	0.0	0.0	32.0	0.0
Total	0.0	32.0	0.0	-0.7	31.3	-0.3

40 (1) P&L pro-forma includes «Profits from treasury management» within «Net financial income» and excludes it from «Trading Profit» (2) Net of non recurring items (3) Voluntary Scheme valuation

P&L net of non recurring items

	1Q21	2Q21	3Q21	4Q21	FY21	1Q22
mln	Adj. (1)	Adj. (1)	Adj. (1)	Adj. (1)	Adj. (1)	Adj. (1)
Net financial income	75.1	72.8	69.2	62.9	280.0	107.5
o/w Net interest income	61.8	62.5	61.8	61.8	247.9	59.3
o/w Profit from treasury	13.2	10.3	7.4	1.1	32.1	48.1
Net commissions	108.1	106.3	110.1	126.4	450.8	118.6
Trading profit	23.9	16.7	15.6	18.9	75.0	29.2
Other expenses/income	0.5	0.1	-1.5	-0.5	-1.3	0.4
Total revenues	207.6	195.9	193.5	207.6	804.5	255.7
Staff expenses	-26.2	-26.7	-27.4	-29.3	-109.6	-28.3
Other admin.expenses	-30.6	-29.9	-27.6	-34.9	-123.1	-34.0
D&A	-6.3	-6.4	-6.4	-7.1	-26.2	-6.6
Operating expenses	-63.1	-63.0	-61.5	-71.3	-258.9	-69.0
Gross operating profit	144.5	132.9	132.0	136.3	545.7	186.7
Provisions	-8.2	-5.8	-31.1	-4.9	-49.9	-10.2
o/w Systemic charges	-5.8	-1.9	-30.0	-2.3	-40.0	-7.7
LLP	-0.5	-1.2	-0.4	0.4	-1.7	-0.8
Profit from investments	-0.6	1.8	0.3	-0.4	1.1	-0.6
Profit before taxes	135.2	127.7	100.9	131.4	495.1	175.1
Income taxes	-40.4	-37.8	-28.3	-39.4	-146.0	-51.5
Net profit adjusted (1)	94.7	89.9	72.6	91.9	349.2	123.6

P&L pro-forma(1) net of non recurring items

41 (1) Net of non recurring items (see page 40 for details)

1Q22 P&L FinecoBank and Fineco Asset Management

	Fineco Asset		FinecoBank	FinecoBank
mln	Management		Individual	Consolidated
Net financial income	-0.1		107.5	107.5
Dividends	0.0		0.0	0.0
Net commissions	32.6		86.0	118.6
Trading profit	0.0		29.0	29.0
Other expenses/income	-0.1		0.5	0.4
Total revenues	32.4		223.0	255.4
Staff expenses	-2.5		-25.8	-28.3
Other admin.exp. net of recoveries	-2.1		-32.0	-34.0
D&A	-0.1		-6.5	-6.6
Operating expenses	-4.7		-64.4	-69.0
Gross operating profit	27.8		158.7	186.4
Provisions	0.0		-10.2	-10.2
LLP	0.0		-0.8	-0.8
Profit on Investments	0.0		-0.6	-0.6
Profit before taxes	27.8		147.1	174.8
Income taxes	-3.5		-47.9	-51.4
Net profit for the period	24.3		99.2	123.5

Details on Net Interest Income

mln	1Q21	Volumes & Margins	2Q21	Volumes & Margins	3Q21	Volumes & Margins	4Q21	Volumes & Margins	FY21	Volumes & Margins	1Q22	Volumes & Margins
Financial Investments	44.6	24,416	43.2	23,977	41.3	23,824	39.8	23,564	168.8	23,945	37.1	23,834
Net Margin		0.74%		0.72%		0.69%		0.67%		0.71%		0.63%
Gross margin	44.8	0.74%	43.2	0.72%	41.4	0.69%	39.8	0.67%	169.2	0.71%	37.1	0.63%
(1) Treasury activities	3.9	2,791	4.7	3,140	4.3	2,646	4.4	2,670	17.2	2,812	4.4	2,786
Net Margin		0.57%		0.59%		0.64%		0.65%		0.61%		0.63%
Leverage - Long	3.4	171	3.9	199	4.3	214	4.3	213	16.0	199	3.4	172
Net Margin		8.12%		7.92%		8.00%		8.01%		8.01%		7.98%
Tax Credit	0.0	1	0.3	42	0.5	95	1.6	441	2.4	145	2.2	541
Net Margin		0.00%		2.50%		2.15%		1.43%		1.63%		1.62%
Lending	10.8	3,805	11.4	4,141	12.3	4,583	13.2	4,931	47.7	4,365	13.6	5,189
Net Margin		1.15%		1.10%		1.07%		1.06%		1.09%		1.07%
o/w Current accounts	3.6	1,632	3.9	1,748	4.1	1,866	4.3	2,005	16.0	1,812	4.4	2,132
Net Margin		0.90%		0.90%		0.87%		0.86%		0.88%		0.83%
o/w Cards	1.0	36	1.0	34	1.0	35	1.0	35	4.0	35	1.0	35
Net Margin		11.40%		11.36%		11.43%		11.47%		11.41%		11.44%
o/w Personal loans	4.2	447	4.3	466	4.4	481	4.5	495	17.4	472	4.5	506
Net Margin		3.83%		3.72%		3.64%		3.60%		3.69%		3.64%
o/w Mortgages	2.0	1,690	2.1	1,893	2.8	2,202	3.4	2,397	10.3	2,045	3.7	2,517
Net Margin		0.47%		0.45%		0.51%		0.55%		0.50%		0.60%
Other	-0.9		-0.9		-0.9		-1.5		-4.2		-1.2
Total	61.8		62.5		61.8		61.8		247.9		59.3
Gross Margin		0.82%		0.81%		0.79%		0.79%		0.80%		0.76%
Cost of Deposits		0.00%		0.00%		0.00%		0.00%		0.00%		0.00%

Volumes and margins: average of the period Net margin calculated on real interest income and expenses

(1) Treasury activities: Unsecured lending, collateral switch, tiering, TLTRO, other repos

New interest rates environment

In the recent months the market experienced a significant structural change due to interest rates move and the inflationary environment

Below a comparison in the forward rate curve as of beginning of January, February and May 2022

	2022				2023		2024
	as of 07/01/22	as of 07/02/22	as of 03/05/22	as of 07/01/22	as of 07/02/22	as of 03/05/22	as of 07/01/22	as of 07/02/22	as of 03/05/22
Euribor 1M AVG	-0.50%	-0.36%	-0.19%	-0.12%	0.49%	1.34%	0.14%	0.69%	1.67%
Euribor 3M AVG	-0.47%	-0.28%	-0.02%	-0.05%	0.57%	1.54%	0.18%	0.75%	1.73%
EURIRS 5Y AVG	0.16%	0.58%	1.32%	0.32%	0.74%	1.84%	0.42%	0.75%	1.90%
EURIRS 10Y AVG	0.43%	0.69%	1.57%	0.55%	0.80%	2.02%	0.63%	0.83%	2.07%
BTP 10Y EOP	1.40%	1.83%	2.89%	1.50%	1.88%	2.98%	1.56%	1.89%	3.01%

UniCredit bonds underwritten

	ISIN	Currency	Amount (€ m)	Maturity	Indexation	Spread
1	IT0005057994	Euro	200.0	11-Apr-22	Euribor 1m	1.43%
2	IT0005114688	Euro		180.0 19-May-22	Euribor 1m	1.19%
3	IT0005120347	Euro	700.0	27-Jun-22	Euribor 1m	1.58%
4	IT0005144065	Euro		450.0 14-Nov-22	Euribor 3m	1.40%
5	IT0005158412	Euro		250.0 23-Dec-22	Euribor 3m	1.47%
6	IT0005163180	Euro		600.0 11-Feb-23	Euribor 3m	1.97%
7	IT0005175135	Euro		100.0 24-Mar-23	Euribor 3m	1.58%
8	IT0005217606	Euro	350.0	11-Oct-23	Euribor 3m	1.65%
9	IT0005241317	Euro	622.5	2-Feb-24	Euribor 3m	1.52%
	Total	Euro	3,452.5		Euribor 3m	1.57%

Financial Investments

Further improvements for a diversified asset side

Bond Portfolio, avg bn Bond portfolio run-offs, eop bn

(1) Sovereign Supranational and Agencies

46

(2) Avg 1Q22 "Other" includes: 1.3bn France, 1.0bn Ireland, 0.9bn USA, 0.6bn Belgium, 0.5bn Austria, 0.4bn Portugal, 0.2bn Chile, 0.1bn Saudi Arabia, 0.1bn Germany, 0.2bn China, 0.1bn other (UK, Switzerland, Iceland, Latvia) (3) Calculated on nominal value as of March 31st, 2022

Lending: high quality portfolio and cautious approach

2022 Guidance

Mortgages Personal Loans Lombard Loans Mar.21 Dec.21 Mar.22 1.8 2.5 2.6 +46.1% +3.1% Eop, bn 26,663 mortgages granted since December 2016 Average customer rate: 142 bps. 1Q22 Yield(1) at 60 bps Average Loan to Value on actual portfolio ~51%, average maturity 19 yrs Low expected credit loss (~15 bps). Only 11 clients accounted in NPL after 63 months from the launch Eop, mln Dec.21 0.1 0.1 1.5 Mar.21 2.0 0.1 2.0 Mar.22 1.7 2.1 2.1 +28.5% +2.9% Other lombard Credit lombard Eop, bn Average ticket € 9,600 and average maturity 4.7 years 1Q22 Yield at 364 bps Efficient and real time process, instant approval platform for eligible clients' requests thanks to a deep knowledge of clients. Low expected credit loss (~29 bps) o/w Credit Lombard(2): Attractive new pricing: retail clients 75-135bps and best clients 50-100bps (on 3M Eur with floor zero) Differentiated margins according to the riskiness of the pledged assets Very low expected loss (~10 bps) yearly new production: ~ 250-300 mln ~ (20-50 mln net) Expected yield(3): ~ 360-380 bps yearly new production: ~ 300-350 mln Expected yield(3): ~ 60-70 bps o/w Credit Lombard(2) : Expected growth: ~ 300-400 mln per year Expected yield(3): ~ 70-80 bps 458 504 515 Mar.21 Dec.21 Mar.22 +12.5% +2.3%

47

(1) Yield on mortgages net of amortized and hedging costs

(2) Credit Lombard allows to change pledged assets without closing and re-opening the credit line, allowing more flexibility and efficiency with floor at zero (3) Expected yield are referred to the stock

Details on Net Commissions

Net commissions by product area
mln	4Q20	1Q21	2Q21	3Q21	4Q21	FY21	1Q22
Banking	3.2	10.8	11.9	12.9	13.6	49.2	12.9
Brokerage	31.7	40.2	29.5	26.0	30.6	126.2	32.6
o/w
Equity	26.5	36.1	24.6	22.5	26.2	109.5	28.1
Bond	1.9	0.8	2.3	0.4	1.2	4.6	0.6
Derivatives	2.7	2.9	2.2	2.3	2.8	10.1	3.5
Other commissions	0.6	0.4	0.4	0.8	0.4	2.0	0.4
Investing	57.8	57.2	65.0	71.4	82.3	275.9	73.5
o/w
Placement fees	1.8	2.2	1.7	1.7	1.9	7.5	1.8
Management fees	67.5	72.5	78.4	85.0	91.9	327.9	93.2
to PFA's: incentives	-6.8	-6.2	-6.7	-7.8	-7.7	-28.4	-8.7
to PFA's: LTI	-0.6	-0.6	-0.9	-0.8	-1.0	-3.3	-1.0
Other PFA costs	-5.8	-10.7	-8.1	-6.7	-7.0	-32.5	-11.8
Other commissions	1.6	0.0	0.6	0.0	4.2	4.8	0.0
Other	-0.2	-0.1	-0.1	-0.2	-0.2	-0.6	-0.3
Total	92.6	108.1	106.3	110.1	126.4	450.8	118.6

Revenues breakdown by Product Area

P&L by product area
mln	1Q21	2Q21	3Q21	4Q21	FY21	1Q22
Net financial income	72.6	69.8	65.9	60.0	268.2	105.3
o/w Net interest income	59.3	59.5	58.4	58.9	236.1	57.2
o/w Profit from Treasury Management	13.2	10.3	7.4	1.1	32.1	48.1
Net commissions	10.8	11.9	12.9	13.6	49.2	12.9
Trading profit	1.4	0.1	0.3	0.7	2.5	5.1
Other	0.1	0.1	0.1	0.2	0.5	0.1
Total Banking	84.9	81.9	79.1	74.5	320.4	123.4
Net interest income	3.5	4.0	4.4	4.4	16.4	3.5
Net commissions	40.2	29.5	26.0	30.6	126.2	32.6
Trading profit	22.0	15.9	15.5	17.9	71.3	23.7
Other	0.0	0.0	0.0	0.0	0.0	0.0
Total Brokerage	65.7	49.4	45.9	52.9	213.9	59.7
Net interest income	0.0	0.0	0.0	0.0	0.0	0.0
Net commissions	57.2	65.0	71.4	82.3	275.9	73.5
Trading profit	0.0	0.0	0.0	0.0	0.0	0.0
Other	0.0	0.0	-0.1	-0.3	-0.3	-0.1
Total Investing	57.2	65.0	71.3	82.1	275.6	73.4

Breakdown Total Financial Assets

mln	Mar.21	Jun.21	Sep.21	Dec.21	Mar.22
AUM	48,018	51,399	52,648	55,450	53,651
o/w Funds and Sicav	33,271	35,699	36,233	38,053	35,985
o/w Insurance	12,659	13,448	14,122	14,963	15,354
o/w GPM	238	282	294	330	326
o/w AuC + deposits under advisory	1,850	1,970	1,998	2,105	1,986
o/w in Advice	572	596	603	637	617
o/w in Plus	1,278	1,374	1,395	1,468	1,369
AUC	20,347	21,760	22,038	22,970	22,804
o/w Equity	14,503	15,695	16,054	17,020	16,853
o/w Bond	5,772	5,993	5,893	5,796	5,777
o/w Other	72	72	90	155	174
Direct Deposits	28,687	28,273	28,867	29,495	30,362
o/w Sight	28,687	28,273	28,867	29,495	30,362
o/w Term	0	0	0	0	0
Total	97,052	101,431	103,552	107,915	106,817

o/w Guided Products & Services	35,381	38,531	39,721	42,304	41,018
o/w TFA FAM retail	11,465	13,215	13,929	15,133	15,249
o/w TFA Private Banking	41,844	44,763	45,924	48,761	47,133

Balance Sheet

mln	Mar.21	Jun.21	Sep.21	Dec.21	Mar.22
Due from Banks (1)	1,902	2,253	2,429	1,844	2,132
Customer Loans	4,639	5,269	5,624	6,002	6,088
Financial Assets	25,398	24,648	24,446	24,581	25,389
Tangible and Intangible Assets	277	281	279	279	276
Derivatives	84	85	92	126	466
Tax credit acquired	9	75	394	509	601
Other Assets	279	293	271	528	446
Total Assets	32,588	32,905	33,534	33,867	35,399
Customer Deposits	29,102	29,141	29,805	29,848	30,736
Due to Banks	1,149	1,173	1,169	1,225	1,808
Debt securities in Issue	0	0	0	497	498
Derivatives	140	119	91	65	-1
Funds and other Liabilities	413	575	501	505	503
Equity	1,783	1,897	1,969	1,727	1,855
Total Liabilities and Equity	32,588	32,905	33,534	33,867	35,399

Leverage Ratio Sensitivity

3) keep our Leverage Ratio comfortably above the regulatory requirements and within our guidance (in a range 3.5%-4.0%)

Leverage Ratio comfortably under control

Retained earnings = Tier 1 Capital (mln)

		70	80	90	100	110	120	130	140	150	200	250	300	350	400	450	500
	-500	4.03%	4.06%	4.08%	4.11%	4.14%	4.16%	4.19%	4.22%	4.24%	4.37%	4.50%	4.63%	4.76%	4.89%	5.02%	5.15%
	0	3.98%	4.00%	4.03%	4.06%	4.08%	4.11%	4.13%	4.16%	4.18%	4.31%	4.44%	4.57%	4.70%	4.83%	4.95%	5.08%
	500	3.92%	3.95%	3.98%	4.00%	4.03%	4.05%	4.08%	4.10%	4.13%	4.26%	4.38%	4.51%	4.64%	4.76%	4.89%	5.01%
	1,000	3.87%	3.90%	3.92%	3.95%	3.97%	4.00%	4.02%	4.05%	4.07%	4.20%	4.33%	4.45%	4.58%	4.70%	4.82%	4.95%
	1,500	3.82%	3.85%	3.87%	3.90%	3.92%	3.95%	3.97%	4.00%	4.02%	4.15%	4.27%	4.39%	4.52%	4.64%	4.76%	4.88%
n)	2,000	3.77%	3.80%	3.82%	3.85%	3.87%	3.90%	3.92%	3.95%	3.97%	4.09%	4.22%	4.34%	4.46%	4.58%	4.70%	4.82%
ml	2,500	3.73%	3.75%	3.77%	3.80%	3.82%	3.85%	3.87%	3.90%	3.92%	4.04%	4.16%	4.28%	4.40%	4.52%	4.64%	4.76%
s (	3,000	3.68%	3.70%	3.73%	3.75%	3.78%	3.80%	3.82%	3.85%	3.87%	3.99%	4.11%	4.23%	4.35%	4.47%	4.58%	4.70%
e	4,000	3.59%	3.61%	3.64%	3.66%	3.68%	3.71%	3.73%	3.75%	3.78%	3.89%	4.01%	4.13%	4.24%	4.36%	4.47%	4.59%
ur s	5,000	3.50%	3.53%	3.55%	3.57%	3.60%	3.62%	3.64%	3.66%	3.69%	3.80%	3.92%	4.03%	4.14%	4.26%	4.37%	4.48%
o p	6,000	3.42%	3.45%	3.47%	3.49%	3.51%	3.53%	3.56%	3.58%	3.60%	3.71%	3.83%	3.94%	4.05%	4.16%	4.27%	4.38%
x	7,000	3.35%	3.37%	3.39%	3.41%	3.43%	3.45%	3.48%	3.50%	3.52%	3.63%	3.74%	3.85%	3.96%	4.06%	4.17%	4.28%
E al	8,000	3.27%	3.29%	3.31%	3.34%	3.36%	3.38%	3.40%	3.42%	3.44%	3.55%	3.66%	3.76%	3.87%	3.97%	4.08%	4.19%
ot	9,000	3.20%	3.22%	3.24%	3.26%	3.28%	3.30%	3.33%	3.35%	3.37%	3.47%	3.58%	3.68%	3.79%	3.89%	3.99%	4.10%
T	10,000	3.13%	3.15%	3.17%	3.19%	3.21%	3.23%	3.26%	3.28%	3.30%	3.40%	3.50%	3.60%	3.71%	3.81%	3.91%	4.01%

Considering our organic capital generation after dividend distribution and payment of AT1 coupon, also in case of extremely adverse market scenario, our Leverage ratio would comfortably remain in a range 3.5%-4.0%

Recap on our Industrial initiatives

Banking: combining Treasury and Business to boost growth

MORE DYNAMIC TREASURY MANAGEMENT:

• yield enhancement strategies (unsecured lending, collateral switch)
• full ADVANTAGE OF ECB's TIERING AND TLTRO
• Profit from Treasury Management

NEW PLATFORM TO DISTRIBUTE THIRD PARTIES SAVINGS ACCOUNTS leveraging on our FinTech DNA

SMART REPRICING ON CURRENT ACCOUNTS IN 2020 AND NEW PRICING IN 2021 ON NEW CURRENT ACCOUNTS: given the acceleration of flight to quality towards our Bank, we can afford to be more selective in our base of clients

NEW PLATFORM FOR TAX CREDIT (Ecobonus and Superbonus): we are very active within the framework of the Law Decree no.34/2020, allowing homeowners to have a tax credit up to 110% for a list of interventions on their houses (i.e. increasing energy efficiency of buildings, reducing seismic risk, etc.)

Investing: accelerating revenues and margins thanks to higher AUM volumes and to the strategic discontinuity in FAM to take more control of the value chain, improving operational efficiency

	STRONG VOLUME EFFECT		FAM OPERATIONAL EFFICIENCY
	INCREASING PFAs PRODUCTIVITY thanks to our cyborg-advisory approach and to our technology		The internalization of the value chain will allow FAM to progressively and structurally lower the costs of third parties, creating more value (i.e. lower costs of mandate, new advisory services, new flagship product range fully managed in-house and new passive
	ROBUST AUM NET SALES as we are in the sweet spot to capture the acceleration of structural trends already in place		funds)
	NEW PFA INCENTIVE SCHEME based on inflows in:		FAM is core for extracting additional value (on fund administration costs, custodian, etc)
	 Asset Under Management		FAM margins contribution expected to grow with the increase of FAM volumes as institutional classes products (FAM funds underlyings of wrappers) can be used as
	 quality solutions with a strong focus on RISK MANAGEMENT		underlying of Investing solutions
	Clients starting to increase their RISK APPETITE		Widening equity strategies offer due to the increasing demand by customers

Fineco Asset Management in a nutshell

AUM at € 25.5bn, of which € 15.2bn retail classes(1). Over 400 ISIN launched since inception

	FAM EVOLUTION
	FAM Megatrend: multi-thematic fund investing in secular trends
	New building blocks both vertical and based on risk profile
FUNDS OF FUNDS	FAM Target: decumulation products for customers who want to take advantage of bear market phase
	FAM Passive Underlyings
	CORE SERIES
	Release of Premium Share Classes
	Additional sub-advisory mandates in pipeline with ~15 new strategies in the coming weeks to further enlarge the offer through quality and exclusivity agreements for Fineco
FAM SERIES	FAM Global Defence: new capital preservation solution
(sub-adviced funds)	New flagship FAM Target China Coupon and ESG Target Global Coupon: investment solutions to build up exposure towards equity
	FAM Passive Single Strategies
INSTITUTIONAL	FAM underlying funds for advisory solutions (both funds of funds and Insurance wrappers) allowing a better control of the value chain to retain more margins and lower customers' TER
CLASSES	FAM Passive Underlyings
	68 strategies, including also Passive and new Smart Beta funds
	 Quality improvement and time to market for customers and distribution needs
BENEFITS	 Several efficiencies leveraging on a vertically integrated business model combined with the strong operating efficiency which is in Fineco's DNA
	 Better risk management thanks to the look-through on daily basis on funds' underlying assets
54	 Win-win solution: lower price for clients, higher margins

Brokerage: extracting value from the vertical integration

After the successful integration of our asset management business through FAM, we are now applying the same strategy with the launch of Leveraged Certificates thanks to our strong operating leverage and to the consistently increasing volumes

	We have launched our offer Leveraged Certificates offer and are now issuer, market maker and distributor.
Leveraged Certificates	Thanks to the vertical integration of the business and the full control in the relationship with clients, over time we are going to convert low-value flows on other issuers' certificates into our own. bn(1) revenues(2) Market size in Italy: 13 volumes and 100 mln We are also targeting flows on leveraged ETFs and covered warrants
	Step 1: launch of the first certificates on FTSE MIB, DAX, EuroSTOXX50, CAC and forex (eur/usd, eur/gbp, eur/jpy, gbp/usd) Step 2: widen the leveraged certificates offer

55

Fineco UK vs competitors

Products and services

		FINECO N K	19	HARGREAVES LANSDOWN	Revolut	C + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + +
	Bank Account	>	×	×
BANKING	Multi Currency	>	×	X	>
	Debit Cards	>	×	×	>
	Shares	V	1	1	>	>
	Bonds	1	×	V	×	>
TRADING	Futures & Options	1	X	X	X	×
	CFDs	1	1	×	×	×
	FX	1	>	X	×	×
	Analytic tools	>	×	×	×	×
	Funds	1	×	>	×	1
INVESTING	ISA		1	>	×	V
	SIPP	>	×	>	×	×

Coming Soon

Platform features

Usability, reliability and advanced tools

	FINECO BANK	15	HARGREAVES LANSDOWN	Revolut	HSBC
Free Basic Market Data	1	1	1	>	>
Free Real time DMA	1	X	×	×	×
Advanced Charting tool	1	×	×	×	×
Recurring investments	1	×	>	×	1
Trading order strategies	1	V	×	X	×
Stock screener	1	X	×	×	×
Payments	1	X	X	1	>
Budget track	1	×	×	1	×
Open banking	1	X	×	1	V

Fineco UK: Premium service without premium price

Disruptive pricing 100% sustainable thanks to our strong operating leverage

	ਦੀ ਹੈ। 2019 ਹੋਈ। ਸੀ। 2019 ਵਿੱਚ ਬੋਈਸੀਲਿੰਗਲੀਜ਼ ਵੀ ਕੰਢਕਾਰਕ ਦੇ ਮਾਰਕਕਰ
Share CFD\Broker Buy 100 units	FINECO ANK ട്ട്	IG	Cilic emc markets	SAXO BANK	Plus500
HSBC * 498.20 GBp	O	£10	ਣੌਰੇ	£8	£0.67
APPLE * 225.64 USD	O	£15	\$10	\$10	\$9.5
BMW * 42.61 EUR	O	€10	€9	€10	€10.75
	FINECO m র্য N K	IG		CIIIC cmc markets	SAXO
CFD on UK INDEX	PIPS	PIPS		PIPS	PIPS
Ftse100	0.6	1		1	0.8

OTC: zero commission, no added spreads

Multicurrency: best spreads, no commissions

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Platform fees: the most competitive

Portfolio size	FINECO BANK	HARGREAVES LANSDOWN	JAJBell & BARCLAYS		F Fidelity	HSBC
£20.000.00	0.25%	0.45%	0.28%	0.30%	0.35%	0.25%

Transaction fees

57

Preserving our best price/quality ratio

Fixed Income

Senior Preferred instrument AT1 instruments On October ¹⁴th , 2021, Fineco successfully issued 500mln Senior Preferred in order to be immediately compliant with the Fully Loaded MREL Requirement on Leverage Ratio Exposure, which will be binding starting from January 1st, 2024. • Annual coupon at 0.50% (5 years Mid Swap Rate plus ⁷⁰ bps vs initial guidance of plus 100 bps) for the first 5 years, floating rate between the fifth and sixth year • Public placement with ^a strong demand, more than ⁴ times the offer

• The instrument has been rated BBB by S&P

• €200 mln perpetual AT1 issued on January ²³rd , 2018:
  • Coupon fixed at 4.82% for the initial 5.5 years
  • Private placement, fully subscribed by UniCredit SpA
  • Semi-annual coupon. Coupon (net of taxes) will impact directly Equity reserves
• €300mln perpetual AT1 issued on July ¹¹th , 2019 in order to maintain the Leverage Ratio above 3.5% after the exit from the UniCredit Group:
  • Coupon fixed at 5.875% (initial guidance at 6.5%) for the initial 5.5 years
  • Public placement, with strong demand (9x, €2.7bn), listed in Euronext Dublin
  • Semi-annual coupon. Coupon (net of taxes) will impact directly Equity reserves
  • The instrument was assigned ^a BB- rating by S&P

Italian AT1 yield at first call date

Main Financial Ratios

	Mar.21	Jun.21	Sep.21	Dec.21	Mar.22
PFA TFA/ PFA (mln) (1)	31.6	32.5	33.0	33.9	32.8
Guided Products / TFA (2)	36%	38%	38%	39%	38%
Cost / income Ratio (3)	30.4%	31.3%	31.4%	32.2%	27.0%
CET 1 Ratio	26.5%	18.6%	18.4%	18.8%	19.3%
Adjusted RoE (4)	22.2%	23.3%	21.5%	22.0%	30.4%
Leverage Ratio	4.77%	4.03%	4.04%	4.02%	3.99%
Leverage Ratio excl. temporary exemption (5)	4.77%	3.81%	3.80%	3.84%	3.80%

(1)PFA TFA/PFA: calculated as end of period Total Financial Assets related to the network divided by number of PFAs eop

(2) Calculated as Guided Products eop divided by Total Financial Assets eop

(3) C/I ratio net of non recurring items (see page 40 for details) calculated as Operating Costs divided by Revenues net of non recurring items

(4) RoE: annualized Net Profit, net of non recurring items (see page 40 for details) divided by the average book shareholders' equity for the period (excluding dividends expected to be distributed and the revaluation reserves)

(5) Leverage ratio excluding temporary exemption (it includes exposures towards Central Banks within total leverage ratio exposures).