Unicredit - Capital/Financing Update 2022

UniCredit S.p.A. ("UniCredit") notes the media speculation regarding the 2022 Supervisory Review and Evaluation Process (SREP) and UniCredit's Pillar 2 Capital Requirement (P2R). Based on preliminary communication by the ECB the P2R may increase minimally from the current 175 basis points. The Maximum Distributable Amount ("MDA") buffer as at 30 September 2022 was a very robust 635 basis points. There is indeed no impact on UniCredit's 2022 and future distribution ambitions, funding plan and capital targets, which remain as per guidance. UniCredit will provide a further market update upon receiving the formal SREP letter with the final outcome.

As of 30 September 2022, UniCredit's (i) capital ratios on a consolidated basis stood at:

? 15.41 per cent CET 1 ratio, fully loaded

? 16.04 per cent CET 1 ratio, transitional

? 17.94 per cent Tier 1 ratio, transitional

? 20.76 per cent Total Capital ratio, transitional

(ii) consolidated organic capital generation stood at a record 158bps or around 5bn, Group excluding Russia and (iii) consolidated net profit stood at a record 4.0bn, Group excluding Russia.

Milan, 09 December 2022

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