Unicredit — Capital/Financing Update 2020

Apr 7, 2020

NOTICE OF EARLY REDEMPTION TO THE BONDHOLDERS OF THE

"UNICREDIT S.P.A. 2015-2025 OBBLIGAZIONI SUBORDINATE TIER II A DIECI ANNI E DUE MESI CON CEDOLE TRIMESTRALI A TASSO VARIABILE INDICIZZATE AL TASSO EURIBOR A 3 MESI AUMENTATE DI UN MARGINE PARI AL 2,75% ANNUO, CON FACOLTÀ DI RIMBORSO ANTICIPATO AD INIZIATIVA DELL'EMITTENTE"

ISIN IT0005087116 – Series 02/15

With reference to the above mentioned bonds, negotiated on EURO TLX, pursuant to the provisions of the related final conditions ("Condizioni Definitive") dated 12 February 2015, UniCredit S.p.A., having obtained the preliminary authorization of the competent authority, gives hereby notice that it intends to exercise its right to early redeem in whole the bonds on 3 May 2020 (the "Early Redemption Date").

The bonds will be redeemed at par and the interests shall cease to accrue on the Early Redemption Date.

Milan, 6 April 2020

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