Unicredit — Capital/Financing Update 2020

Nov 26, 2020

Following the communication received from the ECB in relation to the 2020 Supervisory Review and Evaluation Process (SREP), UniCredit’s Pillar 2 Capital Requirement (P2R) is confirmed at 175 basis points.

The capital requirements for UniCredit, on a consolidated basis, are confirmed vis-à-vis 2019; however, considering the ECB decision on 12 March 2020 (anticipating the adoption of CRDV Art. 104a[1]), and the reduction of the Countercyclical Capital Buffer, UniCredit shall respect in 2021 the following capital ratios:

• 9.03 per cent CET1 ratio

• 10.85 per cent Tier 1 ratio

• 13.29 per cent Total Capital ratio

The above capital ratios include the Combined Buffer Requirement, to be met with CET1 instruments composed by 2.50 per cent Capital Conservation Buffer (CCB), 1.00 per cent G-SIB buffer and 0.04 per cent Countercyclical Capital Buffer (CCyB)[2].

As of 30 September 2020, UniCredit's capital ratios on a consolidated basis stood at:

• 14.41 per cent CET 1 ratio, fully loaded

• 15.15 per cent CET1 ratio, transitional

• 17.33 per cent Tier 1 ratio, transitional

• 19.86 per cent Total Capital ratio, transitional

Milan, 26 November 2020

Enquiries:

Media Relations

e-mail: mediarelations@unicredit.eu

Investor Relations

e-mail: investorrelations@unicredit.eu

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[1] This allows banks to partially use capital instruments that do not qualify as Common Equity Tier 1 (CET1) capital, for example Additional Tier 1 or Tier 2 instruments, to meet the Pillar 2 Requirements (P2R).

[2] As of 30 September 2020. The CCyB depends on UniCredit's exposure towards the countries where countercyclical buffer rates are or will be set, therefore it may vary on a quarterly basis