Unicredit Local Roots. European Leadership

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UniCredit Local Roots. European Leadership.

Half Year 2016 and beyond UniCredit Local Roots. European Leadership. Transactions: 2016 YTD League Tables: 1 January – 30 June 2016 Sources: UniCredit, Dealogic, Mergermarket v3 – 24.10.2016

A Leading Investment Bank in Europe

EMEA Bonds in EUR (non-self led) EMEA Syndicated Loans – All Asset Classes by no. of transactions (189) (EUR 17,819 mn) FY 2015 achievement confirmed vs FY 2015 (#4)

Corporate Bonds in EUR in All Syndicated Loans in Italy (EUR 1,578 mn)* Italy (EUR 1,561 mn)* Germany (EUR 3,567 mn)* Germany (EUR 4,154 mn)* Austria (EUR 75 mn)* CEE (EUR 2,544 mn) vs FY 2015 (#3) * FY 2015 achievement confirmed * FY 2015 achievement confirmed

Loans Agent in EMEA Sponsor-driven Acquisition Finance by no. of transactions (48) in EMEA by no. of transactions (29) FY 2015 achievement confirmed vs FY 2015 (#3)

Rankings according to Dealogic unless otherwise stated (period 1 Jan – 30 June 2016) 3

A Leading Financing Player in Europe

#3 Combined EMEA Bonds and Loans in EUR League Table (1 Jan – 30 June 2016, in EUR bn)* 51.3

48.2

46.5

46.1

45.3

42.6

34.1

32.3

30.7

26.8

*Dealogic as of 6 July 2016 (period 1 Jan – 30 June 2016) 4 BNP Paribas, Crédit Agricole CIB, UniCredit, Société Générale CIB, HSBC, Barclays, JPMorgan, Deutsche Bank, Citi, Goldman Sachs

Agenda

• Loans • Debt Capital Markets • Equity Capital Markets • Financial Sponsor Solutions • Corporate Finance Advisory • Project Finance • Commodity Finance • Structured Trade & Export Finance

An Established Leading Arranger and Bookrunner in Syndicated Loans

Loans

• In the first half of 2016, UniCredit has been involved in EMEA Syndicated Loans (All Asset Classes) – H1 2016 102 syndicated loans in EMEA with a total deal volume Pos Bookrunner Deal Value (USD mn) No. Share % of EUR 21.6 bn, thereof in 1 UniCredit ( #7 in H1 2015) 17,819 83 6.6 83 transactions in a leading 2 HSBC 15,217 67 5.6 bookrunner role (ca. 20% of all transactions in EMEA) 3 Barclays 14,024 25 5.2 with a total deal volume of 17.8 bn 4 Citi 13,937 44 5.2 5 Société Générale CIB 13,436 63 5.0 • Compared to the same period in 2015, we climbed up 6 ING 12,170 74 4.5 the league table by 5 places, ranking #1 in EMEA in 7 BNP Paribas 11,419 77 4.2 All Asset Classes 8 Crédit Agricole CIB 11,085 60 4.1 9 JPMorgan 10,835 33 4.0 • We have constantly improved our market position and 10 Morgan Stanley 10,517 13 3.9 have established ourselves among Europe’s leading Total 273,396 427 100.0 banks which is proven by our excellent League Table Period: 1 Jan – 30 Jun 2016; Source: Dealogic, 4 July 2016 positions, e.g. Italy (#1), Germany (#1) and CEE (#1) European Facility Agent by Activity – H1 2016 • In addition, we have increased our market share as Pos Facility Agent Deal Value (USD mn) No. Share % measured by volume increase in Bookrunner volumes: 1 UniCredit (#1 in H1 2015) 19,607 48 5.5 EMEA all loans from 4.2% to 6.6%, in Germany all 2 ING 20,085 40 5.6 loans from 8.4% to 23.5% and in Italy all loans from 3 Santander 5,368 32 1.5 4 Commerzbank Group 13,896 30 3.9 13.2% to 27.9% 5 BNP Paribas 11,612 25 3.3 • Strong performance drivers were event-driven 6 HSBC 31,125 24 8.7 underwritings such as Syngenta and Uniper as well as 7 Nordea 11,219 20 3.2 8 Deutsche Bank 11,112 20 3.1 large refinancings in the commodity sector 9 Crédit Agricole CIB 6,898 20 1.9 • We are the leading European Facility Agent by Activity. 10 RBS 8,619 19 2.4 Total 423,845 774 100.0 In addition, we rank #1 in Italy and #2 in Germany Period: 1 Jan – 30 Jun 2016; Source: Dealogic, 4 July 2016

Significant Corporate Loans

Loans

Uniper • Purpose: Stand-alone financing for Uniper in Stabilus • Purpose: Support the acquisition of the connection with the spin-off from E.ON German business of Swedish bearings

• Tenor: 3 years maker SKF AB and refinance existing debt EUR 5,000,000,000 EUR 640,000,000 • Tenor: 5+1+1 years Revolving Credit Facility, • UniCredit underwrote the deal alongside JP Acquisition Facilities, Term Loan Facility Morgan and Deutsche Bank and also acted Equity Bridge Facility • The facilities were fully underwritten by the Underwriter, Bookrunner, as Bookrunner, MLA and Facility Agent Underwriter, BMLA, BMLAs1 UniCredit, Commerzbank and MLA & Facility Agent Fac. & Sec. Agent Germany, June 2016 Germany, June 2016 Credit Agricole

freenet • Purpose: Support the acquisitions of Syngenta • Purpose: Back the acquisition of Syngenta Media Broadcast GmbH and Sunrise AG by China National Chemical

Communications Group AG by Freenet AG Corporation – ChemChina EUR 1,140,000,000 • Tenor: Multi-tenor USD 20,000,000,000 • Tenor: Multi-tenor Revolving Credit and Acquisition Facilities, Term Loan Facilities • UniCredit acted as Underwriter, Bookrunner, Revolving Credit Facility • The deal was coordinated by HSBC, with Underwriter, Bookrunner, MLA and Facility Agent Underwriter, UniCredit acting as Sub-Underwriter and MLA & Facility Agent Bookrunner & MLA Germany, May 2016 Germany, Mar 2016 Bookrunner and MLA

Marcegaglia • Purpose: General Corporate Purpose and F.I.L.A. Spa • Purpose: Back the acquisition of UK arts Capital Expenditures and craft materials manufacturer Daler-Rowney • Tenor: 6 years EUR 492,500,000 EUR 130,000,000 • Tenor: 5 years Term Loan Facilities • UniCredit acted as Global Coordinator and Acquisition Facilities alongside Banca Monte dei Paschi di Siena, Bookrunner, MLA, • UniCredit acted as Global Coordinator in Global Coordinator, Banco Popolare, BNP Paribas and Intesa Global Coordinator, the Club comprising Intesa Sanpaolo and Bookrunner & MLA Sanpaolo as Bookrunner and MLA Facility Agent Mediobanca and as Facility & Security Italy, Mar 2016 Italy, Feb 2016 Agent

1Combined role of Bookrunner and MLA 7

Further Selection of Corporate Loans

Loans

MAHLE Stadler Steinhoff Werhahn Ameropa Gazprom M&T Industrieholding

EUR 1,600,000,000 CHF 1,500,000,000 GBP 460,200,000 USD 550,000,000 USD 400,000,000 Revolving Credit Facility Revolving Credit Facility, Bridge Term Loan EUR 500,000,000 Revolving Borrowing Revolving Credit Guarantee Facility Facility Revolving Credit Facility Base Facility Facilities Coordinator, Underwriter, Bookrunner, Coordinator, BMLA & Coordinator, Bookrunner, Coordinator, Bookrunner & MLA Bookrunner & MLA Arranger & Agent Documentation Agent MLA & Security Agent Bookrunner & MLA Germany, July 2016 Switzerland, July 2016 Austria, July 2016 Germany, July 2016 Switzerland, July 2016 UK, July 2016

Aeroporti di Roma MHM Holding GmbH Veritas CMC KME Weishaupt

EUR 250,000,000 EUR 150,000,000 EUR 150,000,000 EUR 145,000,000 EUR 504,748,100 EUR 425,000,000 Revolving Credit Facility Revolving Credit Facility, Revolving Credit Facility Revolving Credit Facility A&E Term Loan Facilities, Term Loan Facility Revolving Credit Facilities Revolving Credit Facility Global Coordinator, Coordinator, Bookrunner, Bookrunner, MLA, Bookrunner, MLA & Coordinator, BMLA, BMLA & Facility Agent MLA & Facility Agent Doc. & Facility Agent Facility Agent Bookrunner & MLA Doc. & Sec. Agent Italy, July 2016 Germany, July 2016 Germany, July 2016 Italy, July 2016 Italy, June 2016 Germany, June 2016

SGB-SMIT Braas Monier Globus Francotyp-Postalia Mercuria Aspen

EUR 275,000,000 EUR 200,000,000 EUR 120,000,000 USD 2,200,000,000 EUR 2,250,000,000 Revolving Credit Facility, Revolving Credit Facility EUR 150,000,000 Term and Revolving Revolving Credit Revolving Credit Facility, Guarantee Facility Revolving Credit Facility Facilities Facilities Term Loan Facility Coordinator, Coordinator, Bookrunner & MLA Bookrunner & MLA Bookrunner & MLA Bookrunner & MLA Bookrunner & MLA Bookrunner & MLA Germany, June 2016 Luxembourg, June 2016 Germany, June 2016 Germany, June 2016 Switzerland, June 2016 South Africa, June 2016

Further Selection of Corporate Loans

Loans

Steinhoff Coca-Cola European Intersnack OHB FUNKE MEDIENGRUPPE Glas Trösch Partners

EUR 375,000,000 EUR 2,900,000,000 EUR 225,000,000 EUR 830,000,000 EUR 295,000,000 GBP 202,500,000 Revolving Credit Facility EUR 4,800,000,000 Revolving Credit Facility, Revolving Credit Facility Term and Revolving CHF 100,000,000 Revolving Credit Facility, Term Loan Facility Facilities Revolving Credit Facility, Term Loan Facilities Coordinator, Bookrunner, MLA & Coordinator, Bookrunner, Term Loan Facilities Bookrunner & MLA Bookrunner & MLA Bookrunner & MLA Documentation Agent MLA, Agent & Sec. Agent Bookrunner & MLA Austria, June 2016 UK, May 2016 Germany, May 2016 Germany, May 2016 Germany, Apr 2016 Switzerland, Apr 2016

Trafigura thyssenkrupp Telefonica Deutschland Linde + Wiemann Glencore KraussMaffei

EUR 625,000,000 USD 5,100,000,000 EUR 750,000,000 EUR 85,000,000 USD 7,700,000,000 Term Loan, L/G Facility, Revolving Credit Facility EUR 2,000,000,000 Revolving Credit Facility Revolving Credit Facility Revolving Credit Facility Revolving Credit Facility Revolving Credit Facility Underwriter, Global Active Bookrunner & Bookrunner, MLA & Bookrunner, MLA, Coordinator, BMLA & MLA Bookrunner & MLA Facility Agent Doc./Fac./Sec. Agent Bookrunner & MLA Doc./Facility/Sec. Agent Netherlands, Mar 2016 Germany, Mar 2016 Germany, Mar 2016 Germany, Mar 2016 Switzerland, Feb 2016 Germany, Feb 2016

Ascential Lavazza Aurubis Agorà Investimenti Spa Getrag Ford Vapiano Transmissions

GBP 345,000,000 EUR 400,000,000 EUR 350,000,000 EUR 223,000,000 EUR 450,000,000 EUR 145,000,000 Revolving Credit Facility, Revolving Credit Facility, Term Loan Credit Revolving Credit Facility Revolving Credit Facility, Revolving Credit Facility, Guarantee Facility Term Loan Facility Facility Term Loan Term Loan Coordinator, Coordinator, Bookrunner, MLA & Bookrunner, MLA & Sole Bookrunner, MLA Bookrunner & MLA Bookrunner & MLA Facility Agent Agent Facility & Security Agent UK, Feb 2016 Italy, Feb 2016 Germany, Feb 2016 Italy, Feb 2016 Germany, Jan 2016 Germany, Jan 2016

Agenda

Again #1 in Debt Capital Markets by number of offerings

Debt Capital Markets

• UniCredit confirmed its #1 position in EMEA in the first All EMEA Bonds in EUR – H1 2016 half of 2016 by number of offerings, being Pos Bookrunner Deal Value (EUR mn) No. Share % 1 BNP Paribas 43,360 175 6.9 continuously TOP ranked in all three relevant 2 HSBC 41,119 185 6.5 segments (i.e. Corporates, Financial Institutions and 3 Barclays 40,332 138 6.4 Public Sector) 4 Crédit Agricole CIB 39,358 153 6.3 5 Société Générale CIB 39,347 171 6.2 • UniCredit reaffirmed its leading role in EMEA Covered 6 UniCredit 37,873 198 6.0 Bonds (#1 by number of offerings), CEE Bonds (#2), 7 Deutsche Bank 29,133 131 4.6 8 Citi 26,119 122 4.1 and SSA Bonds (#3) 9 JPMorgan 25,684 113 4.1 • UniCredit further increased its market share in 10 Goldman Sachs 24,888 90 4.0 Total 630,211 1,398 100.0 Corporate Bonds in EUR (H1 2016 5.7% from 5.0% in Period: 1 Jan – 30 June 2016; Source: Dealogic, 10 July 2016 2015) leveraging on leading market positions in all our home markets Italy, Germany and Austria All CEE1 Bonds in EUR – H1 2016 • Till date UK’s EU referendum did not lead to a significant Pos Bookrunner Deal Value (EUR mn) No. Share % change in tone manifested by the solid shape of the 1 Citi 2,425 12 16.6 2 UniCredit 1,893 8 13.0 market 3 JPMorgan 1,493 6 10.2 4 Société Générale CIB 1,426 8 9.8 5 HSBC 1,153 6 7.9 6 Barclays 1,079 5 7.4 7 BNP Paribas 860 4 5.9 8 Goldman Sachs 647 3 4.4 9 ING 605 3 4.2 10 Natixis 591 3 4.1 Total 14,594 21 100.0 Period: 1 Jan – 30 June 2016; Source: Dealogic, 10 July 2016

1CEE includes Russia, CIS and Turkey 11

Confirming our strengths in the Public Sector

Debt Capital Markets

• In the first half of 2016, UniCredit ranked #3 in the EMEA SSA Euro-Denominated Bonds – H1 2016 Sovereign, Sub-sovereign and Agencies (SSA) EUR Pos Bookrunner Deal Value (EUR mn) No. Share % 1 Barclays 23,364 57 9.2 league table by volume; UniCredit ranked #1 by number 2 HSBC 20,755 72 8.1 of transactions (75 offerings), outperforming peers like 3 UniCredit 20,086 75 7.9 Barclays and HSBC 4 Crédit Agricole CIB 17,090 48 6.7 5 JPMorgan 17,000 51 6.7 • UniCredit ranked #2 Debt Capital Markets House for 6 BNP Paribas 16,000 36 6.3 CEE – EMEA SSA denominated in EUR in H1 2016 7 Société Générale CIB 15,647 45 6.1 8 Goldman Sachs 14,116 40 5.5 • Significant transactions with focus on CEE included 9 Citi 10,736 35 4.2 EUR sovereign bond offerings for Poland and Bulgaria 10 Landesbank Baden-Wuerttemberg 9,327 51 3.7 Total 255,288 379 100.0 • Post UK’s EU referendum, the sub-sovereign and Period: 1 Jan – 30 June 2016; Source: Dealogic Analytics, per 10 July 2016 agencies showed good momentum: Only five days after the referendum, the market was reopened by Hessen’s CEE – EMEA SSA Euro-Denominated Bonds – H1 2016 tap of one of its Bonds as of the beginning of June – Pos Bookrunner Deal Value (EUR mn) No. Share % being the first EUR Benchmark post-Brexit vote. From 1 Citi 1,899 8 16.5 2 UniCredit 1,502 5 13.0 24 June until the end of July, in total 13 German 3 JPMorgan 1,493 6 12.9 Laender offerings (EUR 6.7 bn) came to the market – 4 Barclays 980 4 8.5 of which UniCredit successfully bookrun 9 5 HSBC 973 4 8.4 6 Société Générale CIB 771 4 6.7 (EUR 4.4 bn) 7 Goldman Sachs 647 3 5.6 8 Raiffeisen Bank International AG 513 2 4.4 9 ING 499 2 4.3 10 Natixis 492 2 4.3 Total 11,546 11 100.0 Period: 1 Jan – 30 June 2016; Source: Dealogic Analytics, per 10 July 2016

Significant Public Sector Bonds

Debt Capital Markets

KFW • KfW confirmed its strong commitment to the Republic of Italy • Debut 20-year BTP benchmark line green bond market by launching its first EUR • Paving the way for new benchmark lines: green bond in 2016 Following the introduction of the first • UniCredit has been awarded as Joint Lead 7-year the second consecutive mandate EUR 1,000,000,000 EUR 6,500,000,000 Green Bond Manager due to its pronounced set up in the BTP for UniCredit 0.050% due 2024 green bond universe and its distinguished 2.250% due 2036 • UniCredit confirmed its role acting as key Joint Bookrunner footprint as a sustainable bank Joint Bookrunner Germany, May 2016 Italy, Apr 2016 financial advisor to the Italian DMO

Republic of Bulgaria • This deal is the 2nd multi tranche transaction North Rhine- • NRW issued its 2nd sustainability bond; the Westphalia for the Republic of Bulgaria after the proceeds will be used for social and successful triple tranche transaction environmental purposes EUR 1,144,000,000 EUR 850,000,000 in March 2015 EUR 1,585,000,000 • Books were in excess of EUR 3.3 bn backed Government Bond • More than 350 investors participated across Landesschatz- by102 single orders; final volume equals 1.875%/3.000% anweisung the overall eligible project volume due 2023/2028 the two tranches, for combined order books 0.125% due 2023 Joint Bookrunner of EUR 3.6 bn Joint Bookrunner • 39% of the bond was placed with SRI and Bulgaria, Mar 2016 Germany, Mar 2016 ESG accounts

European Investment • EIB’s first benchmark appearance in 2016 Republic of Poland • The Republic of Poland was the first issuer Bank out of the CEE universe tapping the EUR • The final order book closed in excess of EUR 6 bn market in 2016 EUR 1,000,000,000

EUR 750,000,000 • The transaction contained of a 10-year and EUR 5,000,000,000 Government Bond 20-year dual tranche, the latter being the EARN 1.500%/2.375% 0.000% due 2019 due 2026/2036 longest EUR benchmark offering of the Joint Bookrunner Joint Bookrunner Republic of Poland Luxembourg, Jan 2016 Poland, Jan 2016

Further Selection of Public Sector Bonds

Debt Capital Markets

Hessen Erste BNG Bank Republic of Italy European Union L-Bank Abwicklungsanstalt

EUR 875,000,000 EUR 750,000,000 EUR 8,014,370,000 EUR 1,500,000,000 EUR 1,500,000,000 Landesschatzanweisung EUR 1,500,000,000 Senior Bond Government Bond Senior Bond Senior Bond 0.375% Tap due 2026 Senior Bond 0.250% due 2024 0.400% due 2024 0.625% TAP due 2023 0.375% due 2026 0.000% due 2019 Joint Bookrunner Joint Bookrunner Joint Bookrunner Joint Bookrunner Joint Bookrunner Joint Bookrunner Germany, June 2016 Germany, May 2016 Netherlands, May 2016 Italy, Apr 2016 Luxembourg, Apr 2016 Germany, Apr 2016

Republic of Poland Rentenbank Rhineland-Palatinate Romania Schleswig-Holstein Hamburg

EUR 750,000,000 EUR 750,000,000 EUR 1,000,000,000 EUR 750,000,000 EUR 600,000,000 EUR 500,000,000 EUR 500,000,000 Government Bond Senior Bond Landesschatz- Government Bond Landesschatz- Senior Bond 2.375% TAP due 2036 0.375% due 2026 anweisung 2.750%/3.875% anweisung FRN due 2020 0.000% due 2019 TAP due 2025/ 2035 FRN due 2022 Joint Bookrunner Joint Bookrunner Sole Bookrunner Joint Bookrunner Joint Bookrunner Joint Bookrunner Poland, Apr 2016 Germany, Mar 2016 Germany, Mar 2016 Romania, Feb 2016 Germany, Feb 2016 Germany, Feb 2016

EFSF FMS NRW.BANK Baden-Württemberg Berlin European Investment Bank

EUR 3,000,000,000 EUR 1,000,000,000 EUR 750,000,000 EUR 600,000,000 EUR 500,000,000 EUR 500,000,000 Senior Bond Senior Bond Senior Bond Landesschatz- Landesschatz- Climate Awareness 0.100% due 2021 0.000% TAP due 2019 0.125% due 2021 anweisung anweisung Bond 0.625% due 2026 FRN due 2023 0.500% due 2023 Joint Bookrunner Joint Bookrunner Joint Bookrunner Joint Bookrunner Joint Bookrunner Joint Bookrunner Luxembourg, Jan 2016 Germany, Jan 2016 Germany, Jan 2016 Germany, Jan 2016 Germany, Jan 2016 Luxembourg, Jan 2016

Gaining ground in Corporate Bonds

Debt Capital Markets

• In an increasingly competitive market environment All EMEA Corporate Bonds – H1 2016 UniCredit further increased its market share climbing Pos Bookrunner Deal Value (EUR mn) No. Share % in the league table 1 BNP Paribas 10,881 63 7.9 up 5 places EMEA Corporate Bonds 2 Société Générale CIB 9,843 64 7.2 within 12 months, ranking #4 in H1 2016. UniCredit 3 Deutsche Bank 9,800 41 7.1 reaffirmed its leading position in Italy, Germany and 4 UniCredit 7,812 35 5.7 Austria holding the #1 position 5 Citi 7,035 35 5.1 6 HSBC 6,831 42 5.0 • Despite a modest start at the beginning of 2016 we saw 7 Barclays 6,706 27 4.9 a strong appetite for jumbo trades (e.g. Deutsche 8 ING 6,481 33 4.7 9 Crédit Agricole CIB 6,168 38 4.5 Telekom’s EUR 4.5 bn triple tranche, Daimler’s three 10 Santander 6,060 28 4.4 triple tranche offerings, each EUR 3 bn+ as well as Total 137,520 220 100.0 ABInBev’s EUR 13.25 bn blockbuster trade) Period: 1 Jan – 30 June 2016; Source: Dealogic, 10 July 2016 • In High Yield Corporate Bonds in EMEA we confirmed our #6 position for H1 2016 (improving to #4 after All German Corporate Bonds – H1 2016 eight months) Pos Bookrunner Deal Value (EUR mn) No. Share % 1 UniCredit 3,567 8 11.2 • Post Brexit vote, UniCredit was involved in 5 out of 7 2 BNP Paribas 3,095 10 9.7 high-yield transactions proving UniCredit’s ability to 3 Deutsche Bank 2,299 11 7.2 4 Société Générale CIB 2,271 9 7.1 deliver also in a challenging market environment; 5 Commerzbank Group 2,108 10 6.6 particularly noteworthy: The first high yield bond and 6 Barclays 1,824 3 5.7 the first BB rated deal – Salini Impregilo – and Sisal, 7 HSBC 1,682 6 5.3 the first Single B rated transaction in the market 8 Crédit Agricole CIB 1,584 5 5.0 9 ING 1,238 5 3.9 • For the first time ever, UniCredit entered the TOP 10 10 Citi 1,229 8 3.9 league table for US corporates issuing in EUR (#9) Total 31,892 42 100.0 Period: 1 Jan – 30 June 2016; Source: Dealogic, 10 July 2016

Significant Corporate Bonds

Debt Capital Markets

PKN Orlen • After debuting in 2014 in the EUR space this Salini Impregilo SpA • Transaction executed in 3 steps: Original trade marks the second appearance of Orlen Tranche for EUR 300 mn, Exchange Offer

in EUR for EUR 128 mn and Tap for EUR 172 mn EUR 600,000,000 EUR 750,000,000 • Final books contained more than 2.1 times o/w EUR 300 mn New Bond, • Strong combined book (EUR 1 bn) 2.500% Senior Bond oversubscription EUR 172 mn Tap due 2023 Exc Off & New Bond & Tap • UniCredit also acted as Sole Baa3/BBB- • Highest share of orders coming from 3.750% due 2021 Documentation Manager Joint Bookrunner Joint Bookrunner Poland, June 2016 German/Austrian accounts (29%) Italy, Jun 2016

Enel • 7 outstanding bonds were exchanged into a Daimler • Third EUR triple tranche offering of Daimler mix of new notes and a cash in a row

• Avg. success rate of 15% (excellent outcome; • Transaction comprised longest EUR tenor EUR 6,532,026,000 5 bonds were tendered already in 2015 EUR 3,250,000,000 ever offered by Daimler in benchmark Exchange 3-Tranche Senior Bond EUR 1,073,967,000 exercise due 2020 - 2028 format 7x Senior Bonds A3/A-/A- • Top quality orderbook with strong demand Jt. Dealer Manager Joint Lead Manager Italy, May 2016 Germany, May 2016 in the 12 years tranche

Total • First hybrid offering 2016 for an investment Eni • Dual -tranche format to maximize grade rated corporate size/tenor and minimize spread

• Strong combined book (EUR 4.5 bn) and EUR 1,750,000,000 excellent granularity (450+ orders) Hybrid Bond EUR 1,500,000,000 3.875% PerpNC6 2-Tranche Senior Bond A2/A- due 2022 & 2028 Joint Bookrunner Joint Bookrunner France, May 2016 Italy, May 2016

Significant Corporate Bonds

Debt Capital Markets

McDonald’s • Tremendous demand: Literally all important MOL Hungarian Oil and • After 6 year absence in the EUR market top European institutional investors Gas PLC MOL reentered successfully the arena

participated – providing broad diversification • Orderbook was significantly oversubscribed EUR 2,500,000,000 • Strong demand enabled aggressive pricing EUR 750,000,000 recording EUR 2.4 bn across ca. 250 single 3-Tranche Senior Bond Senior Bond due 2021, 2023 & 2028 approach and low single digit new issue 2.625% due 2023 investors Issue Rating Baa1/BBB+ concessions Issue Rating BBB-/BB • Bulk of demand stemming from Joint Bookrunner Joint Bookrunner USA, Apr 2016 Hungary, Apr 2016 German/Austrian accounts (33%)

AB InBev • Largest EUR corporate bond offering ever Deutsche Telekom • Despite the overall size of the transaction (largest German corporate bond since • Largest 12-year and 20-year corporate trades to date 2002) the deal could be priced very close EUR 13,250,000,000 EUR 4,500,000,000 or even through the curve • Significant investor demand 6-Tranche Senior Bond 3-Tranche Senior Bond Orderbook was substantially oversubscribed, due 2020 - 2036 • reflected in a combined order book of due 2021, 2023 & 2028 • Issue Rating A2/A- EUR 31 bn Issue Rating Baa1/BBB+ especially for the 12 year tranche Joint Bookrunner Joint Bookrunner Belgium, Mar 2016 Germany, Mar 2016

Sappi • Sappi took advantage of the stabilised Alstom • Following their divestment of the electricity markets after the ECB announcement on 10 division, Alstom decided to use available

March cash on balance to buy back parts of the EUR 350,000,000 • Strong investor demand reflecting into a EUR 2,850,000,000 notes 4.000% Tender Snr. Sec.Notes book cover ratio of 3.5 times 5x Senior Bond • Within a very volatile market, Alstom achieved a precise landing at exactly Joint Bookrunner Joint Dealer Manager EUR 500 mn nominal tendered across the South Africa, Mar 2016 France, Feb 2016 priority notes

Further Selection of Corporate Bonds

Debt Capital Markets

Adient Global Holdings Lecta SA Salini Gamenet Group Vonovia Ferrovie dello Stato CCEP Ltd. SpA Italiane

EUR 600,000,000 ADIENT 2-Tranche Sen. Secured EUR 200,000,000 EUR 1,000,000,000 EUR 2,200,000,000 6.500% Fixed Rate EUR 1,000,000,000 Notes and E+6.375% 6.000% Senior Secured 2-Tranche Senior Bond EUR 350,000,000 4-Tranche Senior Bond Senior Bond Floating Rate Notes Fixed Rate Notes due 2022 & 2026 Senior Bond due 2017 - 2028 3.500% due 2024 due 2023/2022 B1/B BBB+ FRN due 2022 Issue Rating A3/BBB+ Joint Bookrunner Joint Bookrunner Joint Bookrunner Joint Bookrunner Sole Bookrunner Joint Bookrunner USA, Aug 2016 Italy, July 2016 Italy, July 2016 Germany, June 2016 Italy, June 2016 USA, May 2016

Airbus Abertis RCI Banque ASF CNH Industrial Suez Environnement

EUR 1,500,000,000 EUR 1,150,000,000 EUR 750,000,000 EUR 500,000,000 EUR 500,000,000 EUR 500,000,000 Dual Tranche Senior Bond Senior Unsecured Senior Unsecured Senior Bond Senior Bond Senior Bond due 2026 & 2031 1.375 % due 2026 0.375% due 2019 1.000% due 2026 2.875% due 2023 due May 2028 A2/A BBB/BBB+ Issue Rating Baa1/BBB Issue Rating Baa1/A- Ba2/BB+ Issue Rating A3/NR Joint Bookrunner Joint Bookrunner Joint Bookrunner Joint Bookrunner Joint Bookrunner Joint Bookrunner Germany, May 2016 Spain, May 2016 France, May 2016 France, May 2016 UK, May 2016 France, May 2016

TeamSystem IGD SiiQ Grandi Navi Veloci BMW CAV alstria office REIT-AG

EUR 450,000,000 EUR 300,000,000 EUR 75,000,000 EUR 1,500,000,000 EUR 830,000,000 EUR 500,000,000 E+6.250% Snr. Sec. Senior Bond Second Lien Notes 2-Tranche Senior Bond Project Bond Senior Bond Notes due 2022 2.500% due 2021 due 2022 due 2020 & 2024 2.115% due 2030 2.125% due 2023 Issue Rating A2/A+ Issue Rating BBB Joint Bookrunner Joint Bookrunner Placement Agent Joint Bookrunner Joint Bookrunner Joint Bookrunner Italy, May 2016 Italy, May 2016 Italy, May 2016 Germany, Apr 2016 Italy, Apr 2016 Germany, Apr 2016

Further Selection of Corporate Bonds

Debt Capital Markets

Kering Mondi Globalports Ansaldo Energia FCA Southern Gas Corridor

EUR 500,000,000 EUR 500,000,000 USD 350,000,000 EUR 70,000,000 EUR 1,250,000,000 USD 1,000,000,000 Senior Bond Senior Bond 6.872% Senior Notes TAP - Senior Bond Senior Bond 6.875% Senior 1.250% due 2026 1.500% due April 2024 due 2022 2.875% due to 2020 3.750% due to 2024 Unsecured Notes due NR/BBB Issue Rating Baa2/BBB B1/BB/BB- 2026 Joint Bookrunner Joint Bookrunner Joint Bookrunner Sole Dealer Joint Bookrunner France, Apr 2016 Apr 2016 Apr 2016 Italy, Apr 2016 Italy, Mar 2016 Azerbaijan, Mar 2016

FCA Bank Ferrari Unibail-Rodamco BASF IBM UTC

Ferrari EUR 500,000,000 EUR 500,000,000 EUR 500,000,000 EUR 300,000,000 EUR 2,250,000,000 EUR 2,200,000,000 Senior Bond Senior Bond Senior Bond Senior Bond Tap 3-Tranche Senior Bond 3-Tranche Senior Bond 1.250% due to 2020 1.500% due to 2023 1.375% due 2026 due Feb 2021 due 2021, 2024 & 2028 due 2018, 2021 & 2026 Baa2/BB+/BBB Issue Rating A Issue Rating A1/A Issue Rating Aa3/AA- Issue Rating A3/A- Joint Bookrunner Joint Bookrunner Joint Bookrunner Joint Bookrunner Joint Bookrunner Joint Lead Manager Italy, Mar 2016 Italy, Mar 2016 France, Mar 2016 Germany, Mar 2016 USA, Feb 2016 USA, Feb 2016

Ford/FCE Bank Roche Onorato Armatori CA Immo AG AB InBev Telecom Italia

FORD EUR 1,350,000,000 EUR 650,000,000 EUR 300,000,000 EUR 150,000,000 USD 46,000,000,000 EUR 750,000,000 Senior Secured 2-Tranche Senior Bond Senior Bond Senior Bond 7-Tranche Senior Bond Senior Bond 7.750% due to 2023 due 2018 & 2021 0.500% due 2023 Ba2/BB- 2.750% due 2023 due 2019 - 2046 3.625% due to 2024 Issue Rating Baa3/BBB A1/AA Joint Bookrunner, Baa2 Issue Rating A2/A- Ba1/BB+/BBB- Joint Bookrunner Joint Bookrunner Security Agent Joint Bookrunner Joint Bookrunner Joint Bookrunner USA, Feb 2016 Switzerland, Feb 2016 Italy, Feb 2016 Austria, Feb 2016 Belgium, Jan 2016 Italy, Jan 2016

Confirming historical leadership in Financial Institutions

Debt Capital Markets

• Among the bookrunners for EUR Denominated EMEA Covered Bonds EUR-Den. Bonds – H1 2016 Covered Bonds in EMEA in H1 2016, UniCredit ranked Pos Bookrunner Deal Value (EUR mn) No. Share % 1 Crédit Agricole CIB 6,232 32 7.3 #3 by volume and #1 by number of transactions 2 Landesbank Baden-Wuerttemberg 6,203 39 7.3 • Overall market increased yoy by 44% (from EUR 59 bn 3 UniCredit 5,273 46 6.2 4 Commerzbank Group 5,216 35 6.1 in H1 2015 to EUR 85.2 bn in H1 2016); market-wise, 5 BNP Paribas 5,131 27 6.0 France (nearly EUR 20 bn, +81%) and Germany (over 6 Natixis 4,605 27 5.4 EUR 17 bn, +24%) have the highest shares, followed by 7 Société Générale CIB 4,235 23 5.0 8 UBS 3,953 18 4.6 Spain (nearly EUR 10 bn or +47%) 9 Barclays 3,673 18 4.3 10 Deutsche Bank 3,666 20 4.3 Total 85,241 160 100.0 Period: 1 Jan – 30 June 2016 Source: Dealogic, 10 July 2016

Significant Financial Institution Bonds

Debt Capital Markets

Agos Ducato • The deal testified the appetite for Italian Assicurazioni Generali • First transaction since November 2015 secured paper with a 1.7x book coverage with the aim at continuing the refinancing

ratio policy begun last year • 95% of distribution was allocated to foreign EUR 850,000,000 • 3/4 of the allocations went to real money investors EUR 1,242,000,000 5.000% accounts Sunrise Srl Series 2016-1 • First UniCredit’s ABS mandate for Agos 32-NC-12 Senior Dated Consumer ABS Ducato Subordinated • With this deal UniCredit strengthened its Joint Lead Manager Joint Bookrunner role in advising insurances to sail in the Italy, June 2016 Italy, June 2016 International Capital Markets

Deutsche Hypo • DEUTSCHE/HYPO very successfully placed its CFF • CFF’s 3rd launch of a EUR Covered Bond in 2nd Pfandbrief in 2016 2016 YTD

• Granular order-book with more than 70 • Limited target size granted a swift book- EUR 750,000,000 accounts, totalling to EUR 1.4 bn. EUR 1.000,000,000 building process with an almost two times Hypothekenpfandbrief Obligation Foncières 0.250% due 2024 • Little spread sensitivity led to a final pricing 0.500% due 2024 subscribed order volume at MS -1 bps following an earlier MS +2 bps • The final spread was fixed at the tight end Joint Bookrunner Joint Bookrunner Germany, May 2016 guidance France, Apr 2016 of the earlier guidance at MS +9 bps

Leeds Building • Inaugural EUR Covered Bond transaction VakifBank • Debut 5Y Benchmark Covered Bond after Society after a well-timed deal preparation via a detailed investor work reaching beyond

4-day European roadshow emerging markets investors • The first ever publically syndicated EUR 500,000,000 • Sensible issuer approach regarding investors’ EUR 500,000,000 UK Covered Bond Turkish Covered Bond international mortgage backed covered 0.125% due 2020 maturity preferences ahead of the 2.375% due 2021 bond from Turkey UK-referendum • Due to a 5.4x oversubscribed orderbook the Joint Bookrunner Joint Bookrunner final spread was set close to a theoretical UK, Apr 2016 Turkey, Apr 2016 sovereign benchmark

Significant Financial Institution Bonds

Debt Capital Markets

AXA SA • The Subordinated Issue, eligible as Tier 2 Yapı Kredi • 2nd ever Basel III compliant T2 bond capital under Solvency II, is the only EUR offering from the Turkish conventional

insurance hybrid in 2016 so far banking sector EUR 1,500,000,000 • The transaction represents the largest deal in USD 500,000,000 • Despite choppy markets the deal was 31.25NC11.25 Basel 3 compliant Tier 2 Notes the insurance space since March 2015 Tier 2 Notes solidly oversubscribed with investor 3.375% due 2047 • Proceeds will be used by the Issuer to 8.500% due 2026 demand strongly driven by UK and US Joint Bookrunner Joint Bookrunner funds as well as European banks France, Mar 2016 refinance part of its outstanding debt Turkey, Mar 2016

Helaba • Larges Pfandbrief since 2011 Banca MPS • First public leasing ABS deal in 2016 issued by Banca MPS • The success of this deal is based on the issuer’s and syndicate group’s sensible • Investors’ positive feedback and interests EUR 1,250,000,000 approach of finding a matching issuance EUR 1,620,000,000 allowed orderbook to be 1.5x Hypothekenpfandbrief Siena Lease 16-2 Srl 0.000% due 2020 window Lease ABS oversubscribed • Even a zero percent coupon couldn’t hinder Joint Lead Manager/ • UniCredit acted as joint Bookrunner Joint Bookrunner Joint Bookrunner Germany, Feb 2016 the outstanding result Italy, Jan 2016

CAFFIL • Caffil was one of the reopener of the Covered Allied Irish Bank • Investor friendly, smooth intraday Bond market in 2016 execution

• The deal marks the first covered bond dual • Issuer exceeded its targeted deal size EUR 1,000,000,000

0.500% due 2022 tranche benchmark since March 2015 resulting in the first “jumbo-sized” deal EUR 500,000,000 EUR 1,000,000,000 for AIB since June 2007 1.500% due 2031 • Very successful intraday execution amidst Irish Covered Bond Obligation Foncière global financial volatility 0.875% due 2023 • Substantial tightening in spread terms Joint Bookrunner Joint Bookrunner France, Jan 2016 Ireland, Jan 2016 from initial price talks to final result

Further Selection of Financial Institution Bonds

Debt Capital Markets

DNB Boligkreditt AS SpareBank 1 Goldman Sachs Bank of America CAFFIL AIG Boligkreditt

EUR 1,500,000,000 EUR 2,000,000,000 EUR 1,500,000,000 EUR 1.000,000,000 EUR 750,000,000 EUR 1,000,000,000 Norwegian Norwegian Senior Unsecured Senior Unsecured Obligation Foncières Senior Unsecured Covered Bond Covered Bond FRN due 2021 0.750% due 2023 0.375% due 2025 1.500% due 2023 0.250% due 2026 0.250% due 2026 Joint Bookrunner Joint Bookrunner Joint Lead Manager Joint Lead Manager Joint Bookrunner Joint Bookrunner Norway, Aug 2016 Norway, Aug 2016 USA, July 2016 USA, July 2016 France, June 2016 Germany, June 2016

UniCredit Dexia Kommunalbank UniCredit SpA Crédit Agricole ING Münchener Hyp

EUR 750,000,000 EUR 500,000,000 EUR 750,000,000 EUR 1,500,000,000 EUR 1,000,000,000 EUR 750,000,000 Tier 2 Öffentlicher Pfandbrief Tier 2 Notes Senior Unsecured Tier 2 Notes Hypothekenpfandbrief 4.375% 10.5NC5.5Y 0.050% due 2021 4.375% due 2027 1.250% due 2026 3.000% due 2028 0.500% due 2026

Joint Bookrunner Joint Bookrunner Joint Bookrunner Joint Lead Manager Joint Lead Manager Joint Bookrunner Italy, June 2016 Germany, June 2016 Italy, May 2016 France, Apr 2016 Netherlands, Apr 2016 Germany, Apr 2016

UBS Berlin Hyp BP Sondrio BRFkredit Sparebanken Sør SEB Boligkreditt

USD 1,500,000,000 EUR 500,000,000 EUR 500,000,000 EUR 500,000,000 EUR 1,500,000,000 Additional T1 Notes Hypothekenpfandbrief Covered Bond Danish Covered Bond EUR 500,000,000 Swedish Covered Bond 6.875% Perp NC5 0.000% due 2019 0.750% due 2023 0.250% due 2021 Norwegian Covered Bond 0.150% due 2021 0.250% due 2021 Joint Bookrunner Joint Lead Manager Joint Bookrunner Joint Bookrunner Joint Bookrunner Joint Bookrunner Switzerland, Mar 2016 Germany, Mar 2016 Italy, Mar 2016 Denmark, Mar 2016 Norway, Mar 2016 Sweden, Feb 2016

Further Selection of Financial Institution Bonds

Debt Capital Markets

Swedbank Abbey National HypoVereinsbank L-Bank UniCredit SpA BAWAG

EUR 1,250,000,000 EUR 1,000,000,000 EUR 1,000,000,000 EUR 1,000,000,000 EUR 1,000,000,000 EUR 500,000,000 Swedish Covered Bond UK Covered Bond Hypothekenpfandbrief Senior Bond Senior Unsecured Fundierte Bankschuld- 0.150% due 2021 0.250% due 2021 0.125% due 2022 0.050% due 2021 2.000% due 2023 verschreibung Joint Bookrunner 0.375% due 2022 Joint Bookrunner Joint Bookrunner Joint Bookrunner Joint Bookrunner Joint Bookrunner Sweden, Feb 2016 UK, Feb 2016 Germany, Feb 2016 Germany, Feb 2016 Italy, Feb 2016 Austria, Feb 2016

Berlin Hyp Deutsche Apotheker- Deutsche Lloyds Bank ABN Amro WL Bank und Ärztebank Pfandbriefbank

EUR 500,000,000 EUR 500,000,000 EUR 1,500,000,000 EUR 1.250,000,000 EUR 875,000,000 Hypothekenpfandbrief Hypothekenpfandbrief EUR 500,000,000 UK Covered Bond Dutch Covered Bond Hypothekenpfandbrief 0.250% due 2023 0.150% due 2023 Hypothekenpfandbrief 0.375% due 2021 0.875% due 2026 0.750% due 2026 0.200% due 2022 Joint Bookrunner Joint Bookrunner Joint Bookrunner Joint Bookrunner Joint Bookrunner The Netherlands, Joint Bookrunner Germany, Feb 2016 Germany, Feb 2016 Germany, Feb 2016 UK, Jan 2016 Jan 2016 Germany, Jan 2016

LBBW NRW.Bank Société Générale SFH Mediobanca Deutsche SR-Boligkreditt Pfandbriefbank

EUR 750,000,000 EUR 750,000,000 EUR 750,000,000 EUR 600,000,000 EUR 500,000,000 Hypothekenpfandbrief Senior Bond Obligations de Senior Unsecured EUR 500,000,000 Norwegian Covered 0.050% due 2020 0.125% due 2021 Financement à l’Habitat 1.625% due 2021 Senior Unsecured Bond 0.500% due 2023 NR/BBB-/BBB+ 1.250% due 2019 0.750% due 2023 Joint Bookrunner Joint Bookrunner Joint Bookrunner Joint Bookrunner Joint Bookrunner Joint Bookrunner Germany, Jan 2016 Germany, Jan 2016 France, Jan 2016 Italy, Jan 2016 Germany, Jan 2016 Norway, Jan 2016

Agenda

Leading positions in core markets despite unfavourable market conditions

Equity Capital Markets

• The first half year of 2016 saw EMEA ECM volume down All Italian ECM Transactions – H1 2016 ca. 40% yoy to EUR 86 bn due to a series of negative Pos Bookrunner Deal Value (EUR mn) No. Share % 1 Mediobanca 1,166 6 18.8 economic shocks that have spread over EU zone and 2 UniCredit 843 6 13.6 culminated with the Brexit vote on 23 June 3 Intesa Sanpaolo SpA 620 5 10.0 4 JPMorgan 608 3 9.8 • ECM activity in the first part of the year was driven by 4 Goldman Sachs 608 3 9.8 refinancing purposes, financial sponsor exits, and 6 Citi 588 3 9.5 M&A financing 7 Deutsche Bank 545 2 8.8 8 Bank of America Merrill Lynch 498 1 8.0 • ABBs accounted for ca. 40% of total volume, followed 9 Morgan Stanley 279 2 4.5 by Rights Issues (20%), IPOs (18%), EQL transactions 10 HSBC 134 1 2.2 10 BNP Paribas 134 1 2.2 (16%) and SPOs (6%) Total 6,198 20 100.0 • Top 5 countries (UK, ES, DE, FR, IT) accounted for over Period: 1 Jan – 30 June 2016; Source: Dealogic Analytics, per 1 July 2016 60% of total issuance • UniCredit wrapped up H1 2016 activity with 9 ECM transactions in EMEA across all products and reopened the EMEA ECM market with 4 ABBs out of 9 in the first 3 weeks post Brexit referendum • Beyond the #2 position in the Italian market by volume and no. of deals, UniCredit remains a leading ECM bookrunner in Poland (#7) and in Germany (#10) in H1 2016

Significant Equity Capital Markets Transactions

Equity Capital Markets

ENAV • Air navigation service provider ENAV priced the IMA • The deal was the only executed EU ABB that largest Italian IPO of 2016, raising EUR 759 mn day, notwithstanding high volatility in the for the Italian government market triggered by US disappointing non-farm

• Huge investors demand with institutional offering payroll data and investors’ nervousness related EUR 759,000,000 ca. 8x and retail tranche ca. 2.4x oversubscribed EUR 92,750,000 to BREXIT IPO Primary ABB • The ENAV IPO marked the first and only sizeable • The stock opened and traded above the offer price in the day after launch as a confirmation Joint Bookrunner IPO post Brexit and the third Italian privatisation Sole Bookrunner Italy, July 2016 bookrun by UniCredit since 2015 Italy, June 2016 of a flawless execution

MTU Aero Engines • Rapid bookbuilding process, covered throughout OVS S.p.A. • The ABB was executed concurrent to three the range in less than 2 hours other European accelerated transactions with elevated volatility on the Italian market on the • Transaction priced at the most aggressive end of the range, with the book multiple times covered back of banking sector woes EUR 500,000,000 • Proceeds to be used for the repayment of the EUR 129,000,000 • UniCredit acted as Sole Bookrunner after Convertible Bond outstanding bonds due June 2017 and to fund ABB winning a competitive bidding process

Joint Bookrunner the group’s investments over the next years Sole Bookrunner • UniCredit also acted as a Joint Global Germany, May 2016 Italy, Apr 2016 Coordinator in OVS IPO in 2015

Prelios • Rights issue successfully completed under Saipem • The largest industrial rights issue in Italy since difficult market scenario with stock down 80% June 2009 since the announcement and sector index down • Transaction successfully executed under

12% difficult market conditions with stock down 53% since the announcement and oil prices at EUR 66,500,000 • Rights issue was part of a complex restructuring EUR 3,500,000,000 minimum level since 2003 Rights Issue plan with the aim to strengthen the company’s Rights Issue • Rights issue allowed Saipem to reduce its balance sheet and re-position Prelios as “pure Global Coordinator Joint Bookrunner financial debt and achieve financial Italy, Mar 2016 management company” Italy, Feb 2016 independence from ENI

Further Equity Capital Markets Transactions

Equity Capital Markets

Bank Pekao Fineco Stabilus Hera

Further Transactions in addition to ENAV IPO

which where priced EUR 748,361,648 EUR 327,674,932 EUR 159,000,000 EUR 36,869,462 successfully shortly after ABB ABB Primary ABB ABB

Brexit vote Joint Bookrunner Joint Bookrunner Joint Global Coordinator Sole Bookrunner Poland, July 2016 Italy, July 2016 Germany, July 2016 Italy, July 2016

CoimaRes ArcelorMittal X-Trade Brokers Saipem

EUR 215,000,000 EUR 2,777,173,368 EUR 43,082,456 EUR 273,000,000 IPO Rights Issue IPO ABB

Joint Bookrunner Co-Lead Manager Joint Bookrunner Joint Bookrunner Italy, May 2016 France, Apr 2016 Poland, Apr 2016 Italy, Mar 2016

Agenda

Partner of Choice for private equity sponsors

Financial Sponsor Solutions

• UniCredit delivers 360° corporate and investment Sponsor-driven Acquisition Finance in EMEA – H1 2016 banking to private equity funds and their portfolio Pos Bookrunner Deal Value (EUR mn) No. Share % 1 BNP Paribas 3,168 29 10.7 companies via our Financial Sponsor Solutions Group 2 UniCredit 3,096 29 10.4 (“FSS”) 3 ING 1,765 15 6.0 4 Deutsche Bank 1,724 13 5.8 • FSS provides lending (incl. LBO financings) and 5 HSBC 1,576 14 5.3 lending-related business, and coordinates the delivery 6 JPMorgan 1,426 8 4.8 of other UniCredit products and services such as capital 7 Credit Suisse 1,421 12 4.8 8 Société Générale CIB 1,341 16 4.5 markets, loan agency, M&A advisory, hedging and 9 Natixis 1,324 14 4.5 corporate banking 10 Crédit Agricole CIB 1,233 17 4.2 Total 29,670 90 100.0 • Highly experienced and fully integrated pan-European Period: 1 Jan – 30 June 2016; Source: Dealogic Analytics, per 6 July 2016 team, covering the full value chain from origination through execution and portfolio support and from very large- to medium-sized and smaller transactions • UniCredit has consistently been a top-3 Bookrunner in leveraged financings for private equity clients in Europe for many years • In the first half of 2016, we ranked #2 by volume – climbing up 4 places within 12 months – and #1 by number of transactions

Significant Financial Sponsor Solutions Transactions

Financial Sponsor Solutions

Artsana • The facilities support the acquisition of Calypso Technology • UniCredit supported Bridgepoint and Artsana Group by Investindustrial Summit Partners in the primary buy out of

• Largest LBO loan deal seen in the Italian LBO Calypso as Bookrunner, MLA and Agent EUR 550,000,000 market post credit crunch USD 425,000,000 • Calypso is headquartered in the US and is Senior Loan Facilities Senior Loan Facilities Investindustrial • True deal-enabler acting as Sole Global Bridgepoint/Summit a world leading capital markets software GloCo, Bookrunner, Coordinator, Bookrunner, Agent and M&A Bookrunner, MLA & developer MLA & Agent Agent Italy, June 2016 Advisor US, June 2016 • Syndication was highly successful

Smyk • UniCredit acted as sole Bookrunner, MLA and Doc Generici • Most aggressive senior leverage seen in the Agent on the financing, as well as Sole Italian LBO market post credit crunch (5.3x)

Financial Advisor • UniCredit helped CVC to secure the deal Undisclosed • 360° support to Bridgepoint to strengthen EUR 375,000,000 providing one-stop-shop solution (as Global Senior Loan Facilities Senior Facilities Bridgepoint/ UniCredit’s position as house bank of Smyk CVC Capital Partners Coordinator, Physical Bookrunner, Agent Cornerstone Group in Poland and Germany GloCo, Bookrunner, and M&A Advisor) Sole Bookrunner & MLA MLA & Agent Poland, June 2016 Italy, May 2016

Limacorporate • Underwriter, MLA and Agent d&b audiotechnik • Underwriter, MLA and Agent supporting the pre-emptive acquisition of d&b • UniCredit as left lead bank facilitated this deal with a 100% underwriting delivered audiotechnik by Ardian EUR 321,000,000 in a very short time frame Undisclosed Amount • UniCredit facilitated the deal by delivering Senior Loan Facilities Sen. & Sec. Lien Fac. EQT Partners Ardian a fully credit-approved commitment for a Bookrunner, MLA & Bookrunner, MLA & 100% underwriting (incl. Second Lien) Agent Agent already at the first round bid date Italy, Apr 2016 Germany, Feb 2016

Further Financial Sponsor Solutions Transactions

Financial Sponsor Solutions

Italmatch Tipico Schenck Process Agrifarma Hennecke TeamSystem

EUR 81,000,000 EUR 645,000,000 EUR 455,000,000 EUR 135,000,000 EUR 67,000,000 EUR 65,000,000 Add-on Facilities Senior Loan Facilities Senior Loan Facilities Senior Facilities Senior Loan Facilities Super Senior RCF Ardian CVC IK Permira Capvis Hellman & Friedman Bookrunner, MLA & GloCo, Bookrunner, Bookrunner, MLA & MLA & Agent Agent MLA & Agent Bookrunner & MLA Agent MLA Italy, June 2016 Malta, May 2016 Germany, May 2016 Italy, May 2016 Germany, May 2016 Italy, May 2016

Engineering Digitex Calucem Ceske Comdata Medi-Globe Ingegneria Informatica Radiokomunikace

EUR 517,600,000 EUR 85,000,000 Undisclosed EUR 210,000,000 EUR 78,000,000 Senior Facilities Senior Facilities Senior Loan Facilities CZK 4,049,000,000 Senior Facilities Senior Loan Facilities Apax Parters/ Carlyle Ambienta Senior Loan Facilities Carlyle DukeStreet NB Renaissance Bookrunner, MLA & Sole Bookrunner, MLA, Macquarie Sole Bookrunner, MLA & Bookrunner & MLA Agent Agent & Buy-side M&A Bookrunner & MLA Bookrunner & Agent Agent Italy, Apr 2016 Italy, Apr 2016 Croatia, Apr 2016 Czech Rep, Mar 2016 Italy, Mar 2016 Germany, Feb 2016

Phoenix International F2A ADB Airfield Solutions/ SGG Bite Compagnia Generale Safegate International Ristorazione S.p.A.

EUR 47,000,000 Undisclosed Undisclosed EUR 159,000,000 EUR 49,000,000 Senior Loan Facilities Senior Loan Facilities Senior Loan Facilities Senior Loan Facilities EUR 240,000,000 Senior Facilities Chequers Partenaires Ardian PAI Partners Astorg Senior Loan Facilities BC Partners Sole Bookrunner, MLA, Providence GloCo, Bookrunner, Agent & Buy-side M&A Sole Bookrunner & MLA Bookrunner & MLA MLA Bookrunner & MLA MLA & Agent Italy, Feb 2016 Italy, Feb 2016 Belgium, Feb 2016 Luxembourg, Feb 2016 Lithuania, Jan 2016 Italy, Jan 2016

Agenda

A Growing Role in Key European Countries

Corporate Finance Advisory

• Despite a 16% decrease in total announced M&A deal Financial Advisors to Italian M&A by No. of Deals – H1 2016 value in the first half of 2016 for EMEA, UniCredit Pos Financial Advisors Deal Value (EUR mn) No. 1 KPMG 1,136 26 consistently increased its visibility as M&A advisor 2 UniCredit 7,078 22 across core geographies 3 Mediobanca S.p.A. 9,368 13 4 Rothschild 5,999 12 • Our Deal activity was especially high YTD in Italy, while 5 Banca IMI/Intesa Sanpaolo 4,041 12 CEE saw solid activity across countries and segments 6 PwC 972 11 and in Germany the mid-market has remained key focus 7 EY 501 10 8 Fineurop Soditic 440 9 area 9 Lazard 8,217 7 • This is evidenced by 2016 transactions such as our roles 10 Vitale & Co. Spa 1,857 7 Period: 1 Jan – 30 June 2016; Source: Mergermarket, per 6 July 2016 as financial advisor to InvestIndustrial on the acquisition of 60% stake in Artsana S.p.A., to Bilfinger on the disposal of Bilfinger MCE to Austrian construction Financial Advisors to CEE1 M&A by No. of Deals – H1 2016 company Habau and also to Ambienta on the acquisition Pos Financial Advisors Deal Value (EUR mn) No. of Calucem, where UniCredit also provided debt financing 1 EY 208 12 2 Rothschild 1,735 11 • Overall, UniCredit advised on 38 M&A transactions in 3 UniCredit 860 10 EMEA in H1 2016, some of them not disclosable, with 4 PwC 244 10 the following distribution per geography 5 KPMG 577 9 6 Deloitte 226 9 • Italy: 22 7 Trigon Group 619 5 • CEE1: 10 8 JPMorgan 720 4 9 Pragma Corporate Finance 54 4 • Germany: 5 10 Goldman Sachs 963 3 • Austria: 1 Period: 1 Jan – 30 June 2016; Source: Mergermarket, per 28 July 2016

1CEE includes Albania, Bosnia-Herzegovina, Bulgaria, Croatia, Czech Republic, Hungary, Macedonia, Montenegro, Poland , Romania, Russia, Serbia, Slovakia, Slovenia, Turkey, Ukraine 34

Significant M&A Transactions – Italy

Corporate Finance Advisory

Iberdrola • Sole financial advisor to leading global Società Gasdotti Italia • Financial Advisor to Macquarie Infrastructure energy player Iberdrola in the disposal of and Real Assets (MIRA), leading global

100% of Italian wind player SER to infrastructure investor, on the acquisition of EUR 416,000,000 Glennmont for an equity consideration of Undisclosed Italy’s transport system operator SGI, through Advisor to Iberdrola in EUR 194 mn Advisor to MIRA and Macquarie European Infrastructure Fund IV in the disposal of SER Swiss Life in the Group to Glennmont • The transaction represents a further step in acquisition of S.G.I. from consortium with Swiss Life AG Iberdrola’s strategy to focus on its core EISER Infrastructure • MLA and agent bank in the acquisition Italy, June 2016 markets Italy, May 2016 financing (incl. hedging and agency services)

Artsana • Advisor to InvestIndustrial (UK-based PE firm RCS MediaGroup • Advisor to RCS MediaGroup S.p.A. (Italy- that prefers to invest in companies with based media company engaged in the

turnover between EUR 75 mn and EUR 1 bn publishing and distribution of newspapers, EUR 1,200,000,000 in industry sectors) in the acquisition of 60% EUR 970,000,000 magazines and other print media, radio Advisor to stake in Artsana S.p.A. Advisor to RCS and television broadcasting and advertising InvestIndustrial in MediaGroup S.p.A. in the the acquisition of 60% • Artsana is an Italy-based producer of health, PTO launced by Cairo management) in the PTO launched by Cairo stake in Artsana S.p.A. cosmetics, beauty and baby care products, Communications S.p.A. Communications S.p.A. Italy, Apr 2016 with an est. IEV of EUR 2 bn Italy, Apr 2016

Agrifarma • Advisor to Permira Ad. LLP (UK-based PE firm Edison • Advisor to Edison S.p.A. (an Italy-based that typically invests in sectors of industrials, energy company) in the contribution in

financial services, TMT, consumer and kind of Fenice from Transalpina di Energia, EUR 340,000,000 healthcare) in the acquisition of Agrifarma EUR 247,000,000 which is an Italy-based joint venture of Advisor to Permira Ad. S.p.A., from Motion Equity Partners Advisor to Edison in the Delmi SpA and Electricite de France, and LLP in the acquisition of contribution in kind of Agrifarma S.p.A. from Fenice from Transalpina distributor and provider of electric power Motion Equity Partners di Energia Italy, Apr 2016 Italy, Feb 2016

Significant M&A Transactions – CEE

Corporate Finance Advisory

axxess capital • Advised the shareholders of Noriel Group, the Abraaj • Advised leading UAE-based private equity leading Romanian toy retailer on the sale of fund Abraaj on the acquisition of a minority

their shares to Enterprise Investors, a Poland- stake in Fibabanka of Turkey Undisclosed based private equity fund Undisclosed • Abraaj is a repeat customer of UniCredit / Advisor to the Advisor to Abraaj Group Shareholders of Noriel • Second transaction in the toy retail sector in on the acquisition of a Yapi Kredi and the transaction evidence of on the 100% sale to CEE for UniCredit this year after having 9.95% stake in our strength across CEE in financial sponsor Enterprise Investors advised Bridgepoint on the acquisition of Fibabanka transactions Romania, July 2016 Smyk in Poland Turkey, June 2016

Umico • Advised Umico, a leading Russian vertically Virgin Connect • Advised Virgin Connect on capital raising integrated meat processing company on the and M&A for Smile Group, a Russian

disposal of its pork farming business regional broadband operator Undisclosed Tatmeat to Komos Undisclosed • Seamless coordination of financing and Advisor to Umico on the Advisor on raising sale of 100% in • An example of local sector consolidation in capital and the advisory services for one of the key TatmeatAgro to Komos Russia whereby UniCredit assisted the seller acquisition of Smile broadband consolidators in Russia in identifying the right strategic partner Group Russia, May 2016 Russia, May 2016

Ambienta • Advised Milan-based private equity fund EPH • Advised Czech EPH in the acquisition of Ambienta on the acquisition of Calucem, the Enel’s 66% stake in Slovenské Elektrárne,

#2 global producer of calcium aluminate the leading Slovakian electricity generation Undisclosed cement EUR 750,000,000 company Advisor to Ambienta on Advisor to EPH in the acquisition of majority • One of the largest PE transactions in Croatia acquisition of Enel’s • One of the largest cross-border transactions stake in Calucem Group ever 66% stake in Slovenské in the region this year Elektrárne Croatia, Apr 2016 Slovakia, Jan 2016

Significant M&A Transactions – Germany & Austria

Corporate Finance Advisory

Bunge SA • UniCredit successfully steered agribusiness Bilfinger SE • Fully fledged sell-side auction involving and food group Bunge through this highly numerous bidders, with HABAU identified as

competitive process leveraging on its access best owner to and relationship with seller and target Undisclosed • The transaction supports Bilfinger’s strategic Undisclosed Advisor to Bilfinger on Advisor to Bunge SA • The acquisition supports Bunge’s strategy of the disposal of Bilfinger initiative to focus on two core divisions on the acquisition of expanding its oils and fats product offering MCE to HABAU (1. Industrial; 2. Building and Facility) and Walter Rau AG (63%) and will enable Bunge to grow and enhance Germany/Austria, to review alternative strategic options with Germany, Apr 2016 its B2B business in Western Europe. Mar 2016 regards to identified non-core businesses

ACU Group • UniCredit successfully supports German • Exclusive M&A advisor to the owner of

POLYTECH Mittelstand as Financial Advisor to the owners Polytech on the 100% sale of his company

of ACU Pharma & Chemie GmbH on the sale in an MBO transaction to mid-cap PE fund

Undisclosed of all shares and assets to Brenntag, a global Undisclosed Deutsche Beteiligung AG (DBAG). Advisor to the Advisor to the owner on market leader in chemical distribution. shareholders on the the disposal of • DBAG is investing alongside its advised sale of POLYTECH ACU Group and Delfino • Complex disposal with mixed share and asset DBAG Fund VI, both acquiring a majority to DBAG to Brenntag deal to two separate units of Brenntag Group Germany, 2016 interest (DBAG 18%; DBAG Fund VI 76%) Germany, Feb 2016 in the Polytech.

Agenda

A Leading Project Finance House

Project Finance

• UniCredit is one of the leading providers of structuring Project Finance in EMEA – H1 2016 and arranging services to our clients in the Power, Pos Mandated Lead Arranger Deal Value (EUR mn) No. Share % 1 Mitsubishi UFJ Financial Group Inc 2,475 22 6.5 Infrastructure and Transportation sectors 2 Sumitomo Mitsui Financial Group Inc 2,020 18 5.3 • With our dedicated teams we offer the full value chain, 3 BNP Paribas 1,915 16 5.0 4 Crédit Agricole CIB 1,555 12 4.1 from origination through execution, fundraising, 5 Bank of China Ltd 1,464 1 3.9 distribution and agency services 6 ING 1,275 14 3.4 7 Banco Santander SA 1,248 20 3.3 • UniCredit is pioneering the cooperation with 8 NATIXIS SA 1,192 10 3.1 Institutional and Project Bond Investors in the 9 UniCredit 1,159 15 3.1 European Project Finance Market having successfully 10 Société Générale CIB 1,047 9 2.8 Total 37,926 105 100.0 structured and raised this form of financing for our Period: 1 Jan – 30 June 2016; Source: Dealogic ProjectWare, per 4 July 2016 clients’ projects UniCredit includes Yapikredi • We are committed to applying our knowledge and strong industry expertise to serve our clients’ needs in a changing and challenging market environment • Project Finance market with 105 transactions down by 9% compared to the first half of 2015 (116 transactions)

Significant Project Finance Transactions

Project Finance

A8 Augusburg-Ulm • Road Refinancing in favour of the sponsors Hochtief and Euroports Holdings • UniCredit acted as Mandated Lead Arranger on Refi Strabag Europort’s amend-and-extend refinancing of its existing group senior debt facilities until July 2020 by • UniCredit developed a unique and solid refinancing way of an infrastructure style debt package. The solution combining commercial banks, institutional financing comprises both bank and institutional EUR 407,200,000 investors and EIB (as Senior Lenders) and EIB as EUR 435,000,000 Project Financing Senior Facilities tranches Senior Debt Credit Enhancement provider (SDCE – Financial Advisor, Amend & Extend • Euroports is one of the largest Europoean port Bookrunner, Agent, subordinated loan) MLA operators with over 25 terminals in Belgium, Hedge Coordinator, • The Project is a brownfield traffic risk infrastructure with The Netherlands, Germany, France, Spain, Turkey and China. Sponsors Germany, June 2016 revenues based on a shadow toll levied on trucks May 2016 of the project are Arcus, Antin, Brookfield

AES Ballylumford • UniCredit acted as Mandated Lead Arranger and Hedge Kilpilahti Power Plant • UniCredit acted MLA, Technical Bank, Insurance Bank Provider in a Power Plant Upgrade Financing in favour of and Modelling Bank for a Captive Power Plant the sponsor AES Corp. Financing in favour of the sponsors Veolia, Neste Oil, Borealis • With the “B Station Upgrade”, the gas fired AES Ballylumford Power Station in Northern Ireland is now EUR 397,000,000 • The Kilpilahti combined heat and power (CHP) project GBP 25,000,000 Project Financing is a modernisation project and will serve as a captive fully compliant with the new Industrial Emissions Senior Debt MLA, Technical Bank, power producer for Neste and Borealis Directive limits, achieving a threefold reduction in Project Financing Insurance Bank, Proposed installed capacities for the project are emissions • MLA, Hedge Provider Modelling Bank 450MW of thermal heat and approximately 30MW of UK, Apr 2016 Finland, Mar 2016 electricity

Alpha Trains – • Rolling Stock Financing in favour of the sponsor Alpha FVH1 • UniCredit acted as MLA and Hedging Bank for EUR 180 Red Motion Trains 90 MW PV Ptf mn PV Ptf Refinancing which will support the creation • Alpha Trains, the leading private rolling stock operating of a 90MW utility scale platform . Sponsors are ForVei lessor in Europe, significantly increased its passenger and Vei Green trains fleet with the purchase of 89 regional passenger • The transactions represents the largest refinancing on EUR 240,000,000 train sets, operated by Transdev subsidiaries under long- EUR 180,281,000 a PF basis occurred in Italian PV sector in 2016 YTD Acquisition Financing term concessions in Germany Project Financing • The financing comprises of private placements with MLA, Hedge Provider institutional investors and bank loans under the MLA, Hedging Bank Luxembourg, Mar 2016 financing platform established in 2015 Italy, Mar 2016

Agenda

A Leading European Commodity Finance House

Commodity Finance

• UniCredit is a top ten European commodity finance Commodity Finance in EMEA – H1 2016 house offering tailor-made financial solutions for both Pos Mandated Lead Arranger Deal Value (EUR mn) No. Share % 1 BNP Paribas 3,684 27 4.9 traders and producers 2 Bank of China 3,644 12 4.9 • We bring with us strong structuring capabilities, ranging 3 Mitsubishi UFJ Financial Group 3,580 22 4.8 4 ING 3,462 36 4.6 from short-term trade finance to producer finance – 5 Crédit Agricole CIB 3,165 22 4.2 alongside most of the asset conversion cycle in 6 HSBC 2,601 28 3.5 commodities. Our industry expertise, product know-how 7 Société Générale CIB 2,557 23 3.4 and collateral management skills are essential to 8 Sumitomo Mitsui Financial Group 2,552 14 3.4 9 Citi 2,424 15 3.2 provide for tailor-made debt solutions (funded and 10 UniCredit 2,417 21 3.2 unfunded) striking the balance between client needs Total 74,742 106 100.0 and risk management Period: 1 Jan – 30 June 2016; Source: Dealogic Analytics, per 6 July 2016 • Importantly, we provide trade and structured financing solutions to international commodity trading clients. The portfolio includes major trading companies but also specialised names active in energy, metals, steel, raw materials, soft commodities and fertilisers • In 2016, the market saw generally lower financing activity across the commodity sector, especially on the producer side, due to the low price commodity environment. Commodity traders remained active in the market, successfully rolling their annual RCF where margin pressure remains

Significant Commodity Finance Transactions

Commodity Finance

Tengizchevroil • The USD 3 bn Revolving Credit Facility is part Ameropa Group • The Facility has a tenor of three years with of the USD 21.5 bn financing for TCO’s USD one 12-month extension option and includes 42.4 bn expansion and maintenance an accordion option of USD 150 mn programme for the Tengiz oil field USD 550,000,000 • Successful syndication with significant USD 3,000,000,000 • Tengizchevroil LLP was formed by the Borrowing Base oversubscription of more than 50% Commercial Bank Facility Facility Republic of Kazakhstan and Chevron Coordinator, BMLA, • The Facility will be used for the refinancing of Bookrunner, MLA Corporation in 1993 to explore and develop Security Agent the existing 2013 Multicurrency RCF as well Kazakhstan, July 2016 super giant Tengiz oilfield Switzerland, July 2016 as the financing of working capital

Puma International • Following strong global demand from a Trafigura • Leading commodity trader Trafigura’s Financing range of international banks across six flagship European multi-currency syndicated continents, the new RCF was oversubscribed USD 5.1 bn 1-year and 3-year revolving credit

to USD 1 bn and the company scaled it back facilities, initially launched at USD 4.275 bn, USD 800,000,000 to USD 800 mn USD 5,100,000,000 was substantially oversubscribed Revolving Credit Facility Revolving Credit Facility • Puma Energy is a mid-and downstream oil Active Bookrunner & • The facility will be used to refinance the MLA & Bookrunner company, majority-owned by the Dutch MLA company’s existing facilities of 2015, as well Luxemburg, Apr 2016 Trafigura and the Angolan Sonangol Group Switzerland, Mar 2016 as for general corporate purposes

KazMunaiGas/Vitol • UniCredit acted in senior roles for the USD 3 E D & F MAN • The USD 1,2bn RCF will be used to bn prepayment facility in favour of Swiss refinance the existing short-term revolving

commodity trader Vitol facility. It is the largest of 4 existing

USD 3,000,000,000 syndicated facilities of ED&F Man Structured Prepayment • Vitol will use the loan to make advance Facility payments to buy oil from Kazakh state- USD 1,250,000,000 • ED&F Man is a global specialist trader for Active Bookrunner, owned oil producer KMG Revolving Credit Facility sugar, molasses, coffee and provides Underwriter, CMLA & Facility Agent MLA financial services/brokerage Kazakhstan, Mar 2016 UK, Mar 2016

Agenda

House of Choice for Structured Trade & Export Finance

Structured Trade & Export Finance

• UniCredit assists clients in structuring, arranging and All ECA-covered in EMEA syndicating financing solutions for mid- and long-term Pos Mandated Lead Arranger Deal Value (EUR mn) No. Share % 1 HSBC 1,222 11 12.5 export business 2 BNP Paribas 884 5 9.1 • Based on our strong network with specialist teams in 3 Citi 826 4 8.5 4 Cassa Depositi e Prestiti SpA 684 4 7.0 Austria, France, Germany, Italy, Americas and Asia, 5 ING 657 5 6.7 we work with major European exporting companies as 6 Crédit Agricole CIB 651 4 6.7 well as main global ECAs 7 UniCredit 510 5 5.2 8 Société Générale CIB 467 4 4.8 • UniCredit is one of three banks winning the 2015 9 Santander 456 4 4.7 Exporters’ Choice Award based on a large survey TXF 10 JPMorgan 445 3 4.6 Total 9,760 30 100.0 ran the previous year in which they interviewed 80 global Period: 1 Jan – 30 June 2016; Source: Dealogic Analytics, per 6 July 2016 exporters to find out which ECAs and banks deliver the most excellent service • Our offer includes ECA-transactions dealing with a high level of complexity and risk. Multi-sourcing TXF Media

capability and local currency solutions, extending reach through cooperation with strong local banks

• Bundling of tailor-made solutions with other debt products: e.g. project finance, leasing & trade UniCredit Exporters’ Bank of finance tools (e.g. Letters of Credit, Guarantees) and supplier credits with ECA-enhancement Choice 2015

• First three quarters has been solid driven by our strong expertise in shipping, infrastructure and Awarded Jan 2016 Oil & Gas • While markets especially for large tickets are more modest, there is an increasing demand from sovereign counterparts, especially in Africa being a strong focus of our exporter base next to CEE & CIS

Significant STEF Transactions

Structured Trade & Export Finance

Skaala Production Oy • OeKB -covered financing of a new production Yildiz Entegre • UniCredit Bank AG and Yapi ve Kredi line for one of the largest window, door and Romania S.A. succeeded in wining the deal in a tight

glazing solutions providers in the Nordics competition against 14 international banks

• Supporting the Austrian flat glass producer • Introduction of Yildiz Entegre Romania S.A. EUR 8,668,099 LiSEC in its global operations EUR 65,614,500 to UniCredit Romania with an entirely new OeKB covered Buyer’s Contributing to energy-efficiency by working Euler Hermes covered client relationship Credit • Buyer’s Credit Sole Lender with a company focused on and pioneering Sole Lender • ECA-financing led to a new ECA-financing Finland, Feb 2016 sustainable development Romania, July 2016 mandate with Yildiz Entegre Russia

20 MW Photovoltaic • OeKB + PRI covered financing for 100% of a Kipaş Mensucat • Introduction of transaction as well as close Park Kahone 20 MW Photovoltaic Park based on İsletmeleri A.Ş. cooperation with Yapi ve Kredi Bankasi

Senegalese state guarantee • First Euler Hermes-covered financings • First larger-volume financing in Africa for EUR 14,810,000 involving UniCredit Commercial Banking EUR 28,141,338 Austrian supplier Energie Merl Two Euler Hermes clients as exporters after a few years OeKB / PRI covered covered Buyer’s Credits Buyer’s Credit • UniCredit Bank Austria AG acted as Sole • ECA-covered facility opens the way for a Sole Lender Lender thereby emphasizing its strong Sole Lender new investment project in the paper sector Senegal, May 2016 position in the African market Turkey, Sep 2016 of Kipas Group

A.W.M. S.p.A. • Discounting of 10 Promissory Notes related 4,800 MW CCGT • UniCredit Bank AG co-financed one of the to a supply of a complete equipment for the EEHC – New Capital largest projects in Egypt ever supporting

production of standard welded mesh Siemens as MLA in a #16 banks syndicate EUR 2,006,208 • The Debtor is part of one of the largest and • Seamless cooperation across CIB network SACE-covered most dominant steel groups in South East including Senior Banker, MNC-coverage, Receivable Financing EUR 1,189,291,993 Asia Euler Hermes Facility EPA, IPPF, Structured Syndicate, FIG, CRO Discounting Bank • Transaction entirely covered by: SACE (90%) MLA • One of three Hermes facilities for gas-fired Indonesia, Feb 2016 and the Exporter (10%) Egypt, Mar 2016 power plants to Egyptian Electricity Holding

Disclaimer

UniCredit Corporate & Investment Banking is a division of UniCredit and consists of UniCredit Bank AG, Munich, UniCredit Bank AG Vienna Branch, UniCredit Bank AG London Branch, UniCredit Bank AG Milan Branch, UniCredit Bank Austria AG, Vienna, UniCredit S.p.A., Rome, UniCredit CAIB Poland S.A., Warsaw, Bank Pekao SA, Warsaw, UniCredit Bank Slovakia AS, ZAO UniCredit Bank, Moscow, UniCredit Bank S.A., Bucharest, UniCredit Bank Czech Republic and Slovakia A.S., Prague and Bratislava (Slovakia Branch), Yapi Kredi Yatirim Menkul Degerler A.S., Istanbul, UniCredit Bulbank AD, Sofia, Zagrebacka banka d.d., Zagreb, UniCredit Bank Hungary Zrt., Budapest, and other members of UniCredit. UniCredit Group and its subsidiaries are subject to regulation by the European Central Bank. In addition, UniCredit Bank AG and its branches are regulated by the Federal Financial Supervisory Authority (BaFin). In addition to that, UniCredit Bank AG Vienna Branch is also regulated by the Austrian Financial Market Authority (FMA), UniCredit Bank AG London Branch is also regulated by the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) and UniCredit Bank AG Milan Branch is also regulated by Banca d’Italia and the Commissione Nazionale per le Società e la Borsa (CONSOB). UniCredit Bank Austria AG is regulated by the Austrian Financial Market Authority (FMA). UniCredit S.p.A. is regulated by Banca d’Italia and the Commissione Nazionale per le Società e la Borsa (CONSOB). UniCredit CAIB Poland S.A. is regulated by the Polish Financial Supervision Authority. Bank Pekao SA, Warsaw, is also regulated by the Polish Financial Supervision Authority. UniCredit Bank Czech Republic and Slovakia AS, is regulated by the CNB Czech National Bank, Prague, and subject to limited regulation by the National Bank of Slovakia, Bratislava. ZAO UniCredit Bank is regulated by the Central Bank of the Russian Federation, Moscow, UniCredit Bank S.A. is regulated by Romanian National Securities Commission and the Banca Nationala a Romaniei. Yapi Kredi Yatirim Menkul Degerler A.S. is regulated by the Capital Markets Board of Turkey. UniCredit Bulbank AD is regulated by the Bulgarian National Bank and the Financial Supervision Commission. Zagrebacka banka d.d. is regulated by the Croatian Financial Services Authority. UniCredit Bank Hungary Zrt. is regulated by the Hungarian Financial Supervisory Authority. This is for information purposes only and (i) does not constitute or form part of any offer for sale or subscription of or solicitation of any offer to buy or subscribe for any financial, money market or investment instrument or any security, (ii) is neither intended as such an offer or solicitation for any such instrument or any security nor (iii) as an advertisement thereof. This communication is directed solely at investment professionals and constitutes a “nonretail communication” for the purposes of the relevant regulations. The securities referred to in this advertisement have not been registered under the U.S. Securities Act of 1933, as amended (the “Act”), and may not be offered or sold in the United States or to a U.S. person absent registration or an applicable exemption from the registration requirements of the Act.

Corporate & Investment Banking UniCredit S.p.A. CIB Communications [email protected] www.cib.unicredit.eu