Record 2024 results and distributions crowning three years of success, exceeding ambitions set with UniCredit Unlocked   Accelerating into the next phase of our winning strategy and uniquely positioned to keep delivering positively differentiated shareholder value     FY24 stated net profit reached €9.7 billion, up 2% FY/FY. Net profit net of DTA increased to €9.3 billion, up 8% FY/FY. Both while absorbing €1.3 billion1 in extraordinary charges. RoTE2 reached 21%; EPS at €5.74, up 22% FY/FY   Total FY24 distribution increased to €9.0 billion3 of which €3.7 billion3 cash dividend for a  FY24 total DPS4 at €2.40, up 33% FY/FY   Net revenue grew to €24.2 billion, up 4% FY/FY, driven by fees at €8.1 billion, up 8% FY/FY, on strong client activity and product offering. NII up 3% FY/FY to €14.4 billion   Costs of €9.4 billion, down by 1% FY/FY despite inflationary pressures and investments, with industry-leading cost/income ratio at 37.9%   Asset quality remains robust, with a low cost of risk of 15 basis points, maintaining our lines of defence including c. €1.7 billion overlays   CET1 ratio at 15.9%, unchanged versus last year despite strategic investments5 and higher distributions, reflecting continued strong organic capital generation of €12.6 billion6   FY25 guidance of net profit and RoTE broadly in line with FY24 despite macro headwinds. Distributions greater than FY24 with cash dividend at 50% of net profit   2027 ambition of net profit at circa €10 billion. Together with excess capital return, FY25-27 ambition of yearly distribution7 greater than FY24   We remain committed to sustainable profitability targeting a FY25-27 RoTE above 17%   Strong growth in EPS and DPS continues   Inorganic options only pursued if they meet strict strategic and financial parameters and improve UniCredit’s standalone case for the benefit of all stakeholders   FY24 ESG plan’s targets achieved8: reached 15% ESG lending share and exceeding the targets with 20% sustainable bond and 53% ESG AuM stock penetration     On 10 February 2025, the Board of Directors of UniCredit S.p.A. (“UniCredit” or “the Group”) approved the 4Q24 and FY24 Consolidated Results as of 31 December 2024.   The Group's record-breaking performance in FY24 crowns our 16th consecutive quarter of sustainable profitable growth. This remarkable achievement reflects the significant trapped potential we have unlocked during the initial phase of UniCredit Unlocked: all the targets set were meaningfully surpassed across all regions, leveraging a unique pan European model: diversified fees and high-quality net revenue growth, high organic capital generation, strong RoTE, and generous total distributions. Even the cost target set in 2021 was met despite a much higher inflationary environment than originally envisaged. With this solid foundation in place, we are now ready to enter the next phase of acceleration from 2025 to 2027.   FY24 net profit at €9.3 billion with its 8.1 per cent increase versus prior year and FY24 stated net profit at €9.7 billion, a 2.2 per cent increase compared to the previous year, are evidence of a transformed UniCredit. FY24 net profit at €10.3 billion on an underlying basis, i.e. net profit not considering €1.3 billion extraordinary charges (gross of tax) due to integrations costs (€0.8 billion) to secure future profitability and RCA9 case full coverage.   This is further evidenced by the continued excellent profitability and shareholder value creation with a FY24 RoTE at 17.7%, or 20.9% on a 13% CET1 ratio, up by 1.1 percentage point versus prior year and EPS of €5.74 up almost 22 per cent versus prior year.   For the 16th consecutive quarter we delivered sustainable quality growth. In 4Q24, net revenues reached €5.6 billion, of which €2.0 billion of fees with a remarkable 8.9 per cent year-on-year growth. All fee categories were up versus prior year, reflecting our unwavering client focus and innovative product offering and the effectiveness of all the initiatives put in place so far.   Net interest income (“NII”) increased by 1.1 per cent year-on-year to €3.7 billion, with a good discipline of deposit pass-through, at an average of 34%10 in 4Q24, only slightly up versus prior quarter. NII demonstrated once again its resilience, also thanks to the Group’s prioritisation of quality and profitable clients and segments as well as the enlarged base of the new perimeter and treasury / ALM contribution.   In FY24 the Group confirmed its structurally low and stable Cost of Risk (“CoR”) at 15 basis points. In 4Q24 CoR stood at an annualised 34 basis points, with loan loss provisions (“LLPs”) amounting to €357 million. Our high-quality, diversified credit portfolio remains resilient, supported by low non-performing exposures (“NPEs”) with sound coverage levels and robust lines of defence, including circa €1.7 billion of overlays on performing loans, broadly unchanged versus prior quarter.   In 4Q24 operational costs were €2.5 billion, up 9.5 per cent quarter on quarter due to seasonality effect, or 1.3 per cent year-on-year mainly due to new collective labour agreements. For FY24 total costs were down by 0.6 per cent versus prior year to €9.4 billion despite inflationary pressure, demonstrating the effectiveness of our ongoing efforts to streamline operations and reduce the absolute cost base while strategically investing in future growth, resulting in an industry-leading cost/income ratio of 37.9%.    The Group’s best-in class capital position is reflected in a CET1 ratio of 15.9%, resulting from a decrease of only 3 basis points compared to the previous year. This is underpinned by the sound organic capital generation during the quarter at 886 basis point, bringing the FY24 total at a record €12.6 billion6, or 4446 basis points, significantly surpassing the target set under UniCredit Unlocked of 150 basis points. Furthermore, we demonstrated once again our discipline in managing our RWAs, down by 750 million quarter-on-quarter to €277.1 billion, or €275.5 billion when excluding the impact of strategic investments4 in 4Q24, thereby further enhancing our capital efficiency.   The Group introduced the FY25 financial guidance, ensuring that we continue to deliver strong returns to shareholders and setting the net profit guidance broadly in line with FY24. Net revenue is guided above €23 billion, with a moderate decline in FY25 NII, reflecting an expected lower interest rates environment and further compression of Russia. We expect FY25 fees to be up mid-single digit percentage point versus FY24, including the net insurance result. FY25 CoR guidance is circa 15 basis points including some expected usage of overlays. We expect operating expenses to be circa €9.6 billion reflecting the expanded perimeter of the Group, or slightly down year-on-year on a like-for-like perimeter, leading to a circa 40% cost/income ratio. Group RWAs are expected at circa €300 billion, reflecting “Basel IV” and other regulatory changes and strategic initiatives.   FY25 distributions11 are guided to be greater than FY24 with a cash dividend pay-out increased to 50% of net profit (from 40%). An interim FY25 cash dividend is expected to be paid in November 2025, amounting to 45% of the total expected FY25 cash dividend (increased from 40% in FY24). We remain strongly committed to delivering sustainable profitability, targeting a FY25 RoTE above 17%, alongside a strong growth in EPS and DPS.   We have set ambitions for 2027 of a net profit of circa €10 billion, coupled with RoTE above 17% and average  FY25-27 organic capital generation broadly in line with net profit. All the above allows a FY25-27 yearly distributions11 ambition greater than in FY24, of which cash dividends at 50% of net profit and additional distributions11 including the excess capital to a 12.5-13% CET1 ratio.   In line with the Net Zero Banking Alliance timeline, UniCredit has outlined its ambition for seven of the most carbon intensive sectors, including an industry leading phase out policy for coal, thus continuing to embed ESG in its financing activities and continuing to implement our Net Zero Transition plan, advancing on Net Zero targets achievement.   Within the program “UniCredit per l’Italia”, the Bank has funded a new plafond of €5 billion for Italian corporates following investing criteria established by the “Piano di Transizione 5.0”, bringing the entire UniCredit plafond to €35 billion since 2022. Building on the success of “UniCredit for CEE 2024” initiative, worth over €2.6 billion financing solutions across Central and Eastern Europe, we have launched “UniCredit for CEE 2025”, offering micro and small businesses a suite of favourable financing solutions, amounting to €2.3 billion. In 2024 we increased UniCredit Foundation funding to €30 million, offering over 100.000 learning experiences to underserved students across 12 countries. We continue to invest in financial education, reaching over 700,000 beneficiaries, and to have a positive impact on our communities with circa 15,000 hours dedicated to volunteering by our employees.   In November 2024, we held our second ESG Day: “A challenged future: choosing the path ahead”. For this year's event, we put our clients at the centre, supporting them on their sustainable transition with actionable insights tackling a range of topics from a customer centric perspective. At ESG Day 2024, we wanted to put the focus firmly on the need for greater progress in tackling some of the toughest issues facing our society today, such as climate change and social inequality.   UniCredit has been included in the “Europe’s Climate Leaders 2024” list and, for the 4th consecutive year, in the “Europe’s Diversity Leaders 2025” by the Financial Times. The Bank has also won the 2024 Diversity and Inclusion Initiative of the Year EMEA award from Environmental Finance for its "Group Holistic Well-being approach”, awarded as Equileap Top 100 Globally for gender equality in 2024 for the 3rd consecutive year and as Top Employer in Europe for 2024 by the Top Employers Institute for the 8th consecutive year. The Bank’s efforts have been recognized in further ESG rating improvements. Additionally, UniCredit Foundation has been awarded the 2024 Tiger Award by Teach For All, a recognition that highlights a game-changing support for educational equity worldwide.   The key recent events in 4Q24 and since the end of the quarter, include:   ·     2024 interim dividend approval (press release published on 06 November 2024); ·     UniCredit successfully issues EUR 1 billion 4nc3Y Floating Rate Senior Preferred Bond (press release published on 13 November 2024); ·     Concluded the 2024 SBB Anticipation. Update on the execution of the share buy-back programme during the period from 11 to 14 November 2024 (press release published on 15 November 2024); ·     Voluntary public exchange offer launched by UniCredit s.p.a. for all of the shares of Banco BPM s.p.a. (press release published on 25 November 2024); ·     UniCredit is making a voluntary public exchange offer for Banco BPM s.p.a. for a total consideration of circa €10.1 billion fully in shares (press release published on 25 November 2024); ·     Moody's affirms UniCredit ratings following the offer on Banco BPM, confirming potential for stand-alone rating above sovereign (press release published on 27 November 2024); ·     Fitch affirms UniCredit rating one notch above the sovereign following the offer on Banco BPM. Outlook remains positive (press release published on 02 December 2024); ·     UniCredit well above the specific capital requirements set by ECB (press release published on 11 December 2024); ·     Filing of the offer document with Consob (press release published on 13 December 2024); ·     UniCredit enters into additional instruments relating to Commerzbank shares and increases aggregate position to ca. 28% (press release published on 18 December 2024); ·     Notice pursuant to Article 41, paragraph 2, letter c) of Regulation adopted by Consob with resolution no. 11971 of 14 May 1999, as subsequently amended ("Issuers' Regulation") (press release published on 24 December 2024); ·     Announcements related to the public exchange offer launched by UniCredit on the shares of Banco BPM s.p.a. (press release published on 27 January 2025); ·     UniCredit informs that it holds an equity stake of circa 4.1% in the share capital of Generali acquired through market purchases over time (press release published on 02 February 2025).    Andrea Orcel, Chief Executive Officer of UniCredit S.p.A. said:   “Three years ago we announced UniCredit Unlocked with financial goals that many said were too ambitious. We have now overdelivered on all those goals, outperforming on all metrics including profitability and distribution targets, and are entering the next phase of our strategy. In this phase, we will accelerate our growth, aspiring to further widen the gap with our competitors, close our valuation gap, and cementing UniCredit as the bank of Europe’s future and benchmark for banking.   We ended 2024 with a strong fourth quarter, crowning 16 quarters of quality profitable growth and our best full year stated net profit ever at €9.7 billion, net profit ex DTA is up 8% versus the prior full year. Underlying net profit was €10.3 billion excluding actions to secure future profitability. Full year RoTE was a robust 17.7%, or 20.9% on a 13% CET1 ratio, underpinned by increased net revenue, a best-in-class cost/income ratio and superior capital efficiency with an organic capital generation of €12.6 billion. We intend to increase our distributions to €9.0 billion to shareholders for 2024, pending approvals. As further proof of our generous distribution policy we are increasing the cash dividend to 50% of net profit from 2025.   Our stand-alone growth and distribution investment case is compelling supported by an attractive geographic footprint, a quality client and business mix as our lines of defence will protect us and our clear alpha initiatives deliver ever greater results. We will continue to demonstrate superior financial performance and shareholder value creation. Any inorganic growth must improve our standalone case and meet our strict financial and strategic requirements.   The macroeconomic and geopolitical backdrop remains complicated and unpredictable. We are however well positioned to absorb a normalization of interest rates and cost of risk and cost inflation. Our diversification together with management actions, and integration costs and overlays already taken provides us with an important advantage. This will allow us to maintain strong profitability and distribution.   Finally, a profound thank you to the employees for their hard work and dedication to all our stakeholders. I am proud of your successes as we build the bank for Europe’s future together.”    

  UniCredit named Global Bank of the Year 2024 and EMEA Loan House Award 2024 by IFR. This is UniCredit’s second time being awarded Bank of the Year in 2024, having previously won The Banker’s Bank of the Year and Bank of the Year in Europe awards.   IFR has recognised UniCredit’s global leadership, naming it the overall Bank of the Year 2024 and EMEA Loan House in its IFR Awards 2024.   The winners have been published on ifre.com on February 5 and in the IFR Awards supplement. The awards will be presented during its annual gala dinner ceremony in London on March 17.     With a pedigree stretching back over four decades, IFR (International Financing Review) is the world's leading provider of global capital markets intelligence. The IFR team is the largest and most experienced of any capital markets publication and comprises a careful blend of seasoned journalists and acknowledged industry professionals. The publication is uniquely qualified to offer unbiased expert commentary from all major financial hubs, ensuring the highest grade of quality journalism.   Commenting on the Awards won by UniCredit, Matthew Davies, editor in chief of IFR, said: "Andrea Orcel’s moves in the M&A market have taken all the headlines. Certainly, he has challenged European authorities to live up to their words on the banking union. But it is vital not to overlook the turnaround of UniCredit’s underlying business in the past few years. It has gone from an also-ran in the European banking industry to a leader. It is much more profitable, much more dynamic, and much more entrepreneurial than it was. That is great news for its clients – but also for the Italian and European banking sector”.   In recent years, UniCredit has relentlessly worked on its cultural and industrial transformation, committing to fundamental change to redefine its future, with the ambition of becoming the bank for Europe’s future.   Commenting on the Awards, Andrea Orcel, UniCredit CEO, said: “We are extremely proud of these achievements and what they represent about UniCredit’s transformation. UniCredit is a different institution today and, as we conclude the first phase of UniCredit Unlocked having achieved and exceeded all our objectives, it is a pleasure to reflect on how far we have come. We have emerged as the benchmark for banking excellence in Europe thanks to the hard work and dedication of our people, who strive relentlessly to deliver for our clients and their communities. These are their awards, and they should be very proud of what they have achieved."   UniCredit's excellence has also been recognized by the prestigious international magazine The Banker, part of the Financial Times group, which named UniCredit Bank of the Year and Bank of the Year in Europe in 2024.   Serving 15 million clients in 13 markets across Europe, UniCredit remains focused on supporting its clients and employees, while working to fulfil its purpose and empower communities to progress.     Milan, 6 February 2025      For further information, please contact: mediarelations@unicredit.eu  

  UniCredit informs that it holds an equity stake of circa 4.1% in the share capital of Generali acquired through market purchases over time.   The stake is a pure financial investment of the bank that significantly exceeds its return metrics and has a negligible impact on CET1.   An additional circa 0.6% is held as part of ordinary services for clients and related hedge.   UniCredit has no strategic interest in Generali and remains fully focused on the continued execution of UniCredit Unlocked, the tender offer on Banco BPM and the investment in Commerzbank.       Milan, 02 February 2025     Contacts:  Media Relations e-mail: MediaRelations@unicredit.eu Investor Relations  e-mail: InvestorRelations@unicredit.eu

  The plants, with a total capacity of 61.1 MW, will be built in Piedmont, Tuscany, Lazio and Apulia The construction bridge financing on a grid-parity basis is an innovative financial structure for the photovoltaic sector in Italy   PLT Energia, one of Italy's largest independent player in the renewable energy sector from wind and solar sources, has signed with UniCredit - as Sole Mandate Lead Arranger, Bookrunner and Lender - a multi-line project financing agreement for a total amount of EUR 54.2 million.   The financing is functional to the construction of 11 greenfield photovoltaic plants in grid parity, some of which are already under construction, located in Piedmont, Tuscany, Lazio and Apulia, for a total capacity of 61.1 MW.   The transaction, a construction bridge financing, represents a novelty in the grid parity market in Italy in the photovoltaic sector, as the contractual structure adopted does not envisage the ex-ante finalization of PPA contracts, which can be negotiated more efficiently when the plants come into operation.   Once in operation, the plants will be able to generate an expected annual production  of over 104 GWh, capable of covering the annual energy needs of around 21,000 people while avoiding climate-altering emissions of over 52,000 tonnes of CO₂ equivalents per year; considering a plant life of around thirty years, this will correspond to a saving of over 1,500,000 tonnes of CO₂ equivalents that will not be emitted into the atmosphere.   Stefano Marulli, CEO of PLT Energia, commented: “With this operation we continue the investments envisaged in our business plan, confirming the Group's leading role in the production of energy from renewable sources. UniCredit confirms itself as our reference partner to support the Group's growth plan and to structure articulated and innovative initiatives for the sector”.   Andrea Burchi, Regional Manager Central North UniCredit, remarked: “We are proud to once again support the development plans of PLT Energia, one of the undisputed protagonists of the Italian energy transition. This innovative financing operation, finalized thanks to the synergy between the Region Centro Nord and the Infrastructure & Export Financing team, represents a concrete contribution not only to the company's growth, but also to the strengthening of a key sector such as energy production from renewable sources. It is a further step that confirms our Group's commitment to promoting the transition towards a more sustainable future”.   As part of the transaction, UniCredit was assisted for legal advice by the firm Bonelli Erede, for technical advice by Fichtner Italia, for insurance-related profiles by Marsh and for the auditing of the financial model by PwC Advisory. PLT Energia was assisted by Studio Tributario e Legale Rossi & Partners for the legal aspects related to hedging financing.   Milan, 28 January 2025     Contacts: Media Relations Email: mediarelations@unicredit.eu