CREDEM GROUP INDEX 01 Group Overview and Business Model 02 1H21 Group Results 2 CREDEM: AMONG THE TOP 10 LARGEST LISTED BANKS IN ITALY Credito Emiliano, established in Reggio Emilia (Emilia Romagna) in 1910, is among the top 10 largest Italian listed banking groups, with €62 billion in total assets, 6,341 employees and 426 branches all over the country (as of 1H21). It holds a strong presence in the Emilia-Romagna region (where the Group’s headquarter is located): one of Italy’s wealthiest regions, accounting for about 10% of the Italian GDP. The banking group is formed by several companies covering all main retail and corporate financial services, including leasing, factoring, asset management, life and general insurance. Credito Emiliano SpA has been listed on the Italian Stock Exchange since 1997 (CE.MI). 1H21 TOTAL ASSETS MARKET CAP € billion € billion 46.1 1,057 950 24.0 199 146 135 4.1 2.5 62 53 2.0 1.6 1.1 17 0.4 Peer 2 Peer 1 Peer 3 Peer 4 Peer 5 CREDEM Peer 6 Peer 7 Peer 2 Peer 1 Peer 3 Peer 5 CREDEM Peer 6 Peer 4 Peer 7 Total Assets: source listed banks’ consolidated balance sheet as at June 30, 2021; Market Cap: source Borsa Italiana as at 17 3 September, 2021. Peer group: Unicredit, IntesaSanPaolo, Banco-BPM, MPS, BPER, Pop. Sondrio, B. Desio GROUP SHAREHOLDERS’ BASE Credemholding is a pure financial holding company with no other significant asset, except for the stake in Credem SREP REQUIREMENT 76.95% Credem is the parent company of the Banking Group Free Float 23.05% MREL TARGET Source: internal data as at July 24, 2021 4 A DISTRIBUTION NETWORK WITH A NATIONAL FOOTPRINT NUMBER OF BRANCHES PER REGION 2 2018 2019 2020 1H21 4 50 25 Branches 487 459 429 458* 14 Corporate 37 37 37 37 133 Centres 7 Small Business 25 7 62 57 57 56 4 Network Centres 3 Credem Points 52 54 62 65 22 1 Banca 38 39 Euromobiliare 16 15 14 14 1 financial stores 6 Financial 812 831 833 839 27 Advisors Avvera FA and 196 193 209 237 Agents 50 Agents Salary backed loans Agents 183 202 236 289 and other staff Source: Internal data as at June 30, 2021 5 * Number of branches as at August 8, 2021 including CR Cento A BUSINESS MODEL BASED ON WEALTH MANAGEMENT AND RETAIL BANKING Retail & Commercial Banking Retail and Corporate Wealth Management Commercia l Banking Other activities and Insurance 100% 100% 100% 100% Asset Management Private Banking Consumer Lending Remote banking and document management Fiduciary Company 100% 100% Parmesan cheese warehousing and seasoning 100% 100% Leasing Factoring 100% 100% Asset Management Facility management Promoted and managed (*) by Credem Group 100% 70% Spv (Covered Bond Life Insurance and Sicav (*) Pension Fund Programme) (*) (*) (*) BLUE EYE SOLUTIONS SRL SATA SRL ADVISORY SIM Information Technology Advanced Application 100% 50% 75% 75% Investment Firm General Insurance Solutions Technology Source: internal data as at June 30, 2021 6 * Not included in the Banking Group Perimeter WEALTH MANAGEMENT FOCUS - VOLUMES Customers’ AUM: 42% of 26% 29% 31% 33% 33% 37% 42% total funding 19% 15% 21% 14% 31% 19% 23% 55% 55% 46% 53% 37% 43% 36% Peer 1 Peer 3 Peer 5 Peer 4 Peer 7 Peer 2 CREDEM Deposits + Bonds AUC AUM + Insurance Reserves Credem has a remarkable incidence of AUM and Insurance products compared to other Italian banks, thanks to the strong know-how in the wealth management area, confirming its highly diversified business model Source: banks balance sheet as of 1H21. Peer group: Unicredit, IntesaSanPaolo, Banco-BPM, MPS, BPER, Banco Desio. BP Sondrio 7 does not disclose such figure ASSET QUALITY 1H21 GROSS NPE RATIO As of 1H21, Credem gross NPL ratio was 7,0% 6,2% 2.6%, remarkably lower than the average of Average: 5.0% 5,7% the peer group and already below the 5,1% 4,5% 4,7% threshold set by EBA (5%). Such figure 4,1% confirmed the outstanding asset quality of 2,6% the Group, best in class in Italy and broadly in line with EU average at 2.5%* CREDEM Peer 2 Peer 4 Peer 1 Peer 7 Peer 5 Peer 3 Peer 6 1H21 COST OF RISK 152 The excellent asset quality, the absence of a significant deterioration in the loan portfolio and the updating of internal 91 models led the Cost of Risk in the negative Average: 56 70 area, at -10 bps, compared to an average of 41 46 33 56 bps. Net of non-recurring items on the 25 performing component, the Cost of Risk -10 would be equal to 9 bps, well below the Industry average CREDEM Peer 1 Peer 6 Peer 4 Peer 2 Peer 7 Peer 3 Peer 5 Source: banks balance sheet and press release as of 1H21. Peer group: Unicredit, IntesaSanPaolo, Banco-BPM, MPS, BPER, Pop. Sondrio, B. Desio. * 1Q21 ECB banking statistics 8 RETURN ON EQUITY Italian Banks Credem EU Banks 6.9 2.0 0.4 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 The Group maintained a high profitability, also during the financial crisis, without performing any capital increase and constantly paying dividends, while continuously strenghtening its capital position through organic capital generation Figures %. Source: EBA 4Q20 Risk Dashboard 9 CREDEM’S RATINGS Republic Intesa Banco Banca Ratings UniCredit Credem BPER MPS of Italy Sanpaolo BPM Carige Baseline Credit Baa3 Baa3 Baa3 Baa3 Ba3 Ba2 B3 Caa1 Assessment Short-Term P-3 P-2 P-2 P-3 P-3 P-3 NP NP Deposit Rating Outlook (deposits) Stable Stable Stable Stable Stable Stable RUR* Positive Long-Term Rating BBB- BBB- BBB- BBB- - BB B B- Short-Term Rating F3 F3 F3 F3 - B B B Outlook / Review Stable Stable Stable Stable - Stable RWN* Negative Source: Companies’ websites and rating agencies’ reports as at September, 2021 10 *Rating Watch Positive/Negative/Rating Under Review INDEX 01 Group Overview and Business Model 02 1H21 Group Results 11 1H21: KEY POINTS LOANS GROWTH NPL RATIO* Loans to customers Credit quality: equal to €29.8 billion, best-in-class in +8.9% up by almost 9% YoY Italy and close growth, approx 3x 4.1% to the EU compared to the average 3.2% Industry 2.6% 2.5% PROFITABILITY CAPITAL Net Profit 14.38% Capital soundness at 6.82% the top in the Industry 10.2% CET1 with 682 bps buffer on 1H21 minimum capital 136.4 7.56% million requirement Annualized ROTE * Source Significant Italian Banks average and EU average: ECB, Supervisory Banking Statistics 1Q21 12 (https://www.bankingsupervision.europa.eu/ecb/pub/pdf/ssm.supervisorybankingstatistics_first_quarter_2021_202107~26652c2b08.en.pdf) STRESS TEST RESULTS The results of the last stress test, published by the ECB, confirmed Credem’s capital soundness, and placed the Group in the best range in terms of prudential CET1 ratio depletion in case of an economic adverse scenario (<300 bps impact on CET1 ratio). Out of the the major Italian banks participating into the exercise, only Credem reported an impact below 300 bps, and this result places the Group among the top 5 banks of the exercise conducted by the ECB and among the best 16 banks within the 101 major European credit institutions involved by both EBA and ECB CET1 Ratio depletion* in Adverse Scenario < 300 bps 300 bps > 600 bps > 600 bps *Source Italian and European average based on results published on: https://www.eba.europa.eu/risk-analysis-and-data/eu-wide-stress-testing 13 https://www.bankingsupervision.europa.eu/banking/tasks/stresstests/html/index.en.html A GROWING DIGITAL APPROACH 1 INTERNET BANKING RETAIL DIGITAL OPERATION: 4 >655,000 contracts (+3.5%) MIGRATION TREND +20% of online operations vs June 2020 Incidence on bank accounts at As of June 2021, more than 68% vs 66% FY20 90% of overall transactions was carry out through digital channels (internet banking, 2 MOBILE - RETAIL mobile banking and ATM), with peaks almost at 95% in Mobile channel up by 35% vs the Corporate segment June 2020 Continuous growth of mobile- only accesses and operations 3 INTERNET BANKING - CORPORATE 131,000 active clients (+3.6%) Incidence on bank accounts at 70% vs 69% FY20 Figures YTD SUSTAINABILITY ENVIRONMENT SOCIETY GOVERNANCE Carbon neutrality by 2025: • 181 recruitments in 1H21 of which Start of a project for the • Achieved 100% use of 46% women integration of climate and recycled paper • The Group sponsors the anti- transition risks within the • The Group started a COVID-19 vaccination campaign credit processes complete renewal process of the AUSL of Reggio Emilia of all credit and debit cards (Emilia-Romagna) in recycled PVC 15 RECLASSIFIED INCOME STATEMENT Δvs Δvs • Revenues kept growing, with €/million 1Q21 2Q21 1H20 1H21 1Q21 1H20 Operating Income at €640 million in the first half (+11.0% vs 1H20), thanks to the Operating 335.7 304.1 -9.4% 576.4 639.8 11.0% stability of the NII and the remarkable Income progression of the fee component Core Op. Income 292.8 294.0 0.4% 539.5 586.8 8.8% • Operating costs, net of integration Payroll. -137.8 -131.0 -4.9% -252.9 -268.8 6.3% costs, up 5.9% vs 1H20, in line with the Admin. Expenses -50.8 -48.6 -4.3% -94.9 -99.4 4.7% revenue trend confirming the Group’s Integration Costs -6.0 -10.8 n.s. -16.8 n.s. flexibility to adapt the cost components Operating costs -194.6 -190.4 -2.2% -347.8 -385.0 10.7% according to the income dynamics D&A -21.9 -22.3 1.8% -42.4 -44.2 4.2% • Positive effect of LLPs, thanks to a Net Op.