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UBS Global Financial Services Conference

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UBS Global Financial Services Conference UBS Global Financial Services Conference New York, May 2010 Mediobanca well positioned in the “new world” ¡ Mediobanca business model has proved sound and efficient during the crisis ¡ No deleveraging, public or private funds, ECB financing needed ¡ High liquidity and solidity consistently assured, high resilience of income ¡ Market positioning and distribution strengthened in all businesses ¡ Competitive landscape expected to change profoundly ¡ Macro economic and financial scenario still fragile ¡ Regulators expected to reshape the market ¡ Mediobanca extremely well positioned in the “new world” ¡ High reputation and capital base ¡ Business model already compliant with new rules ¡ Room for growth in top line and profitability at all businesses MB Group 2 Business model MB Group Mediobanca Group Corporate & Principal Retail & Investment Banking Investing Private Banking Stable equity Lending Consumer credit investments Capital Markets Retail banking Advisory Private banking Large/mid corporates Retail MB Group 3 Diversified business MB Group KPIs Group KPIs by division ¡ Banking activities represent 85% of total CIBRPB PI TOT income and 60% of net profit To t a l i n c o m e (5Y avg.) 50%35% 15% ¡ Banking activities well diversified byy of which corporate and retail, respectively NII 35% 68% - 40% 50%:35% of total income or 65%:35% of Fees 35% 28% - 25% loan book Securities 35% 4% - 20% NtNet profit from PI* - - 100% 15% ¡ Income well diversified by sources: net interest income (40%), fee income (25%) RWA (€m) 75% 20% 5% and securities income (35%) Loan bkbook (€bn) 6%65% 3%35% ¡ Funding sources diversifying: no retail contribution only 18 months ago, 17% Funding (€bn) 83% 17% today * PI comppqyanies are equity-accounted; net ppprofit included in MB total income pro rata MB Group 4 Business model already compliant with new rules MB Group KPIs Group annual KPIs trend ¡ High resilience of total income June 08 June 09 March10-9M ¡ Well diversified income To t a l i n c o m e (€m) 2,098 1,776 1,600 Net profit (€m) 1,013 2 354 ¡ Low leverage RWA (€bn) 55 53 53 ¡ High liquidity Tangible BV/Asset 10% 9% 10% ¡ Solid capital position Loans/deposits ratio 0.7x 0.7x 0.6x ¡ Low cost/income ratio Core Tier 1 ratio 10% 10% >11% Rating S&P AA- AA- A+ ¡ Low compensation ratio C/iCost/income ratio 31% 41% 37% ¡ Conservative approach to asset quality Compensation ratio 20% 20% 18% ¡ Profitability recovering NPLs/Ls 0.4% 0.4% 0.4% ROE 15% 0% 7% Gross RORWA 2.1% 0.2% 1.3% MB Group 5 Banking activities MB Group Corporate & Investment Banking Retail & Private Banking Capital Consumer Retail Private Lending Advisory markets credit banking banking -Lending - Equities - Origination - Personal loans - Current accounts -On-shore - Structured finance - Fixed-income - Advisory - Automotive - Deposit acc./repos - Off-shore - Export finance -ALM& Treasury -M&A - Special purposes - Pocket accounts -Leasing - Brokerage - Corporate restruct. - Salary-backed - Mortgage loans Milan, Frankfurt, London, Madrid, Paris Italy Integrated approach Specialized offering March 10 (€ - 9m) March 10 (€ - 9m) Income 870 m Cost/income 27% Income 627 m Cost/income 61% PBT 417 m LLPs/Ls 75bps PBT -20 m LLPs/Ls 300bps Net profit 259 m NPLs/Ls 0.2% Net profit -27 m NPLs/Ls 0.8% Loans 24 bn RORWA gross 1.4% Loans 12 bn RORWA gross neg Funding 46 bn RORWA net 0.9% Funding 20 bn RORWA net neg RWA 39 bn No. employees 865 RWA 10 bn No. employees 2,457 MB Group 6 Corporate & Investment Banking Corporate & Investment Banking CIB KPIs Italian market positioning (12m as at June) ¡ MB top ranked in Italian market M&A - 2009 ECM - 2009 Syndicate loans - 2009 (TF - Announced deals - €m) (TF - €m) (TF - Bookrunners - €m) ¡ International diversification boosted since Bank Volume Bank Volume Bank Volume 2007: Mediobanca 21,054 Mediobanca 2,576 BNP Paribas 3,081 Morgan Stanley 17,116 Intesa SanPaolo 1,988 Intesa SanPaolo 2,893 ¡ iilbhinternational branches now representi ng Intesa SanPaolo 16,811 JP Morgan 1,829 Mediobanca 1,822 ~20% of revenues and ~30% of lending JP Morgan 16,724 Morgan Stanley 642 Mitsubishi UFJ 1,442 volumes Goldman Sachs 15,024 UBS 521 BBVA 1,442 ¡ MB recoggpynized player in France, Germany, Spain CIB total income and fees breakdown (average last 5Y) ¡ Integrated approach by product (lending, advisory and capmkts) and by geographies ¡ Customers: focus on large-caps ¡ Well diversified income ¡ Low leverage ¡ Efficient structure (cost/income ratio 27%) ¡ Good asset quality: NPLs/Ls = 0.2% NPLs coverage>50% CIB PI RPB 7 CIB: a driver for future growth Corporate & Investment Banking Main trends Total income (€m–12m as at June) ¡ HiHigh h resilience of top line ¡ High liquidity and low leverage have 1060 consistently enabled pro-active asset allocation 850 890 875 870 ¡ CIB as a driver of future growth too, due to: ¡ new ventures being fully exploited 560 ¡ growth in loan book ¡ cost of risk returning to normalized levels J05 J06 J07 J08 J09 March 10 9m PBT and gross RORWA (€m, % –12m as at June) Customer Loans and Treasury (€bn) 202.0 1.7 13 9 18 1.4 1.3 1.4 6 6 23 23 16.0 20 0.7 3 630 640 21 560 14 16 417 350 380 J05 J06 J07 J08 J09 March 10 J05 J06 J07 J08 J09 March 10 9m Loans Treasury CIB PI RPB 8 Consumer credit: Compass Consumer credit Compass KPIs Product range (9m new loans as at March10) ¡ Specialist operator since 1960s ¡ Top ranked in Italy (4th, 3rd in personal loans) ¡ Positioning strengthened in 2008 with Linea merger, integration now completed ¡ Wide product portfolio, focused on profitable segments ¡ Effecti ve and divers ifie d dis tr ibu tion netktwork ¡ Valuable and increasing customer base (1.8 Personal loans by channel million) ¡ Advanced proprietary know-how both in terms of lending and credit recovery ¡ Efficient structure (cost/income ratio <40%) ¡ No concerns on asset quality:-NPLs/Ls=0.8% NPLs coverage=90% CIB PI RPB 9 Compass: well positioned to leverage growth Consumer credit Main trends Total income (€m–12m as at June) ¡ CiiCrisis has dddampened some of thhe previous market excesses Linea acquisition 180 600 ¡ Margins expected to gradually improve as: 470 410 ¡ Compass has resumed growth in a still 380 stagnant market, gaining market share 260 320 and customers ¡ cost of funding reducing J05 J06 J07 J08 J09 March 10 ¡ cost of risk reducing 9m Loan book (€m) New loans (Δ YoY, Compass monthly market share) Compass market ssahar e 8.1% 4.3 8.1 8.1 Linea acquisition 6.9% +22% 3.7 4.1 3.2 +7% 262.6 -14% J05 J06 J07 J08 J09 March 10 3Q09 4Q09 1Q10 Compass Italian market (source: Assofin) CIB PI RPB 10 Retail banking: successful business model Retail Banking CheBanca! KPIs Product sold by channel ¡ CheBanca!: innovative specialist banking retail operator launched in May 2008 CheBanca!branches CheBanca! ¡ Two years since its launch, CheBanca! has mobile branches achieved a distinctive position in the market Web ¡ High brand awareness Phone ¡ Innovative multichannel distribution network ¡ Scalable and efficient operating platform Customer acquisition/operations by channel ¡ Affluent and stable customers base ¡ Cost-effective and transparent but not most 75% 79% 83% 91% Web remunerative products Operational ¡ Strong commercial results channel ¡ €9.1bn deposits, €4.0bn loan book ¡ 400,000 product sold, 300,000 Branches Mobile Phone Web customers branches Customer acquisition channel CIB PI RPB 11 Retail deposits steadily growing Retail Banking CheBanca! main trends ¡ CheBanca! retail funding already represents 17%of MB ggproup funding, expected toriseto25% byy end-2011 ¡ Stable and affluent customer base: funding stock steadily growing despite lower mark-up and most remunerative 12m lock-up expiring (90% retention) ¡ CheBanca!: more revenues to come due to gradual introduction of more profitable nenew products, leveraging on valuable customer base, increasing cross selling, lowering cost of funding. Funding stock and pricing for 12m linked deposit (€bn, bps) €bn 10.0 Price Leader* 550 9.1 bn 475 475 8.0 470 425 CheBanca! 375 6.0 410 325 350 300 296 250 4.0 266 +154 3.7 149 142 2.0 -54 140 1.8 1.1 0.6 1.3 Sept 08 Dec 08 March 09 June 09 Sept 09 Dec 09 March 10 Quarterly CB! net flows Mark up on BOT 12m yield CIB PI RPB 12 Private banking: AUM stock rebuilding ongoing Private Banking Banca Esperia: KPIs and main trends Banca Esperia AUM (pro-rata, €bn) ¡ Top ranked in Italy 6.0 0.4 0.6 ¡ AUM up 50% to €6.0bn in last 12m 1060 0.6 ¡ 70% of AUM growth due to net inflows 0.7 1.3 (€1.3b)bn) 4.1 0.2 ¡ 50% of net inflow unrelated to tax amnesty ¡ Enhancing distribution network March 09 2Q 09 3Q09 4Q091Q10 March10 CMB: KPIs and main trends Compagnie Monégasque de Banque AUM (€bn) ¡ Market leader in Princippyality of Monaco 5.9 010.1 ¡ Tax amnesty impacted negatively in 2009, (0.6) (0.9) AUM has recovered slightly since 1Q10. 0.4 ¡ NewCEOtodevelopgrowthinMonacoand Switzerland 545.4 March 09 2Q 09 3Q09 4Q091Q10 March10 Net new money Market effect CIB PI RPB 13 Principal Investing: KPIs Principal Investing PI KPIs Book value NAV of listed companies (€bn – March 10) ¡ Three strategiic stakes iilnclud ed Book value €2.5bn Market Value €3.8bn ¡ 13.24% Assicurazioni Generali (insurance) ¡ 1443.36% RCS Media Grou p (publishing) ¡ 11.62% Telco (telecommunications) ¡ Merchant banking stakes ¡ Investee companies are market leaders in their Risk weighted assets (€bn) own sectors ¡ Stakes built during99g 1990s: no further cap ital 55 50 53 53 allocated in last 5Y 40 53 51 33 48 50 38 32 J05J06 J07 J08 J09 March 10 Banking activities Principal investing CIB PI RPB 14 PI: still
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