Comment on the results from Federico Ghizzoni, CEO of UniCredit:

“Despite a rapidly deteriorating global economic environment, UniCredit’s 2012 second quarter shows a good resilience of its gross operating profit, supported by the active implementation of the Strategic Plan’s cost reduction program. Net interest income resisted well, despite commercial volumes slowing down, as UniCredit reaps the benefit of its diversified business model; also the loan to deposit ratio is further improving. The decrease of our net profit is mostly due to our loan loss provisions, with overall coverage ratio up in Italy in the quarter. The turnaround in Italy is actively progressing as seen by first half improved operating profitability”.

Key figures from the H1 2012 results:

• Group Net Profit: €1.1billion (-18.0% Y/Y), of which €477 million from buy-back of Tier I and Upper Tier II bonds in 1Q12;

• Revenues: €13.4 billion (-0.2% Y/Y), of which €697 million from buy-back of Tier I and Upper Tier II bonds;

• Operating Costs: €7.6 billion (-2.6% Y/Y);

• Cost/Income ratio at 56.8% (-1.4 p.p. Y/Y);

• Gross Operating Profit: €5.8 billion in 1H12 (+3.1% Y/Y, -9.4% net of buy-back);

• Loan Loss Provisions: €3.3 billion (+23.6% Y/Y);

• Balance Sheet and regulatory capital: Core Tier I at 10.4%, well above regulatory requirements.

Key figures from the 2Q 2012 results:

• Group Net Profit: €169million (-66.9% Y/Y), -61.3% Q/Q net of the €477 million from buy-back of Tier I and Upper Tier II bonds in 1Q12;

• Revenues: €6.2 billion (-3.2% Y/Y) down by 2.5% Q/Q excluding the €697 million from buy-back of Tier I and Upper Tier II bonds;

• Operating Costs: €3.7 billion (-4.6% Y/Y, -2.4% Q/Q);

• Cost/Income ratio at 59.9% (-0.9 p.p. Y/Y, flat Q/Q excluding 1Q12 bond buy-back);

• Gross operating profit: €2.5 billion (-1.0% Y/Y), -2.5%Q/Q excluding bond buy-back in 1Q12;

• Loan Loss Provisions: €1.9 billion (+62.2% Y/Y, +36.6% Q/Q).

Despite very challenging economic environment UniCredit closed the second quarter of 2012 with a Net Profit of €169 mln. hit by strict cost control and increased loan loss. The Group is on track with the Strategic plan and is going in the right direction.

More information for media:

UniCredit Bulbank, Identity & Communications Department

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Magdalena Ivanova, Phone: + 359 2 9232 528, nbhebmfob/jwbopwbAvojdsfejuhspvq/ch