Consolidated results as at 30 June 2012

28 August 2012

This document has been prepared by Unione di Banche Italiane Scpa ("UBI") for informational purposes only and for use in the presentation of28 August 2012. It is not permitted to publish, transmit or otherwise reproduce this document, in whole or in part, in any format, to any thirdparty without the express written consent of UBI and it is not permitted to alter, manipulate, obscure or take out of context any information setout in the document.

The information, opinions, estimates and forecasts contained herein have not been independently verified and are subject to change withoutnotice. They have been obtained from, or are based upon, sources we believe to be reliable but UBI makes no representation (eitherexpressed or implied) or warranty on their completeness, timeliness or accuracy. Nothing contained in this document or expressed during thepresentation constitutes financial, legal, tax or other advice, nor should any investment or any other decision be solely based on thisdocument.This document does not constitute a solicitation, offer, invitation or recommendation to purchase, subscribe or sell for any investmentinstruments, to effect any transaction, or to conclude any legal act of any kind whatsoever.This document contains statements that are forward-looking: such statements are based upon the current beliefs and expectations of UBI andare subject to significant risks and uncertainties. These risks and uncertainties, many of which are outside the control of UBI, could cause theresults of UBI to differ materially from those set forth in such forward looking statements.Under no circumstances will UBI or its affiliates, representatives, directors, officers and employees have any liability whatsoever (in negligence

Disclaimer

Under no circumstances will UBI or its affiliates, representatives, directors, officers and employees have any liability whatsoever (in negligenceor otherwise) for any loss or damage howsoever arising from any use of this document or its contents or otherwise arising in connection withthe document or the above mentioned presentation.

For further information about the UBI Group, please refer to publicly available information, including Annual, Quarterly and Interim Reports.

By receiving this document you agree to be bound by the foregoing limitations.Please be informed that some of the managers of UBI involved in the drawing up and in the presentation of data contained in this documenteither participated in a stock option plan and were therefore assigned stock of the company or possess stock of the bank otherwise acquired.The disclosure relating to shareholdings of top management is available in the half year and the annual reports.

Methodology

The “notes on the reclassified financial statements” contained in the periodic financial reports of the Group may be consulted for a fullercomprehension of the rules followed in preparing the reclassified financial statements.

2

30 June '11 31 Dec '11 30 June '12

� Core Tier 1 Ratio Evolution

8.20%8.56%

10.24%

9.24%

UBI Banca 1H12 results: Better solidity

30 June '11 31 Dec '11 30 June '12

13.02%13.50%

15.01%

� Total Capital Ratio Evolution

Validation AIRB on Corporate CreditRisk obtained in

May 2012

Validation AIRB on Retail Credit

Risk to beapplied for within

1H2013

3

� Total RWA/Total Assets

16.5x 18.5x 18.3x

30 June '11 31 Dec '11 30 June '12

� Leverage** Evolution

72.1%70.1%

57.3%

30 June '11 31 Dec '11 30 June '12

* EBA Core Tier I requirement as at 30/06/12, including the sovereign risk valuation at fair value as at 30/09/11 and considering a minimum capital requirement constraint equal to 80% of the capital requirements calculated on the basis of Basel 1 rules, as per EBA exercise.** Tangible assets/(tangible equity + non controlling interests + net result for the period)

� Operating Income � Operating Expenses

UBI Banca 1H12 results: Better profitability

1,706

1,795

1H11 1H12

-1,216

-1,141

1H11 1H12

-6.2% YoY

+5.2% YoY

� Net Operating Income

490

654

1H11 1H12

+33.3% YoY

(€ mln)

4

� Pre-tax Profit � Net Normalised Profit

70

121

1H11 1H12

+72.1% YoY

+28.2% YoY

194

249

1H11 1H12 StatedNet Profit -36.6%

YoY

MAIN INCOME STATEMENT ITEMS Figures in € mln 1H11 1H12 % change 2Q11 1Q12 2Q12

% change2Q12/1Q12

% change2Q12/2Q11

Net interest income 1,041 1,026 (1.5%) 514 517 508 (1.7%) (1.0%)

Net commission income 587 586 (0.1%) 295 299 287 (4.2%) (2.7%)

Net result from finance 7 105 n.s. (7) 94 11 (87.9%) n.s.

Other income items 71 78 9.0% 43 23 54 n.s. 27.2%

Operating income 1,706 1,795 5.2% 844 934 861 (7.8%) 2.0%

Staff costs (738) (693) (6.1%) (373) (364) (328) (9.9%) (12.0%)

Other administrative expenses (356) (352) (1.1%) (185) (176) (176) 0.4% (4.7%)

Net impairment losses on property, equipment and investment property and intangible assets

(122) (96) (21.2%) (62) (49) (47) (3.5%) (23.9%)

Operating expenses (1,216) (1,141) (6.2%) (620) (589) (552) (6.3%) (11.0%)

1H2012 Profit net of non recurring items to € 121 ml n (+72.1% vs 1H2011)1H2012 Stated Profit of € 160 mln (-36.6% vs 1H2011)

Net operating income 490 654 33.3% 223 345 309 (10.4%) 38.3%

Net impairment losses on loans (264) (334) 26.9% (158) (131) (203) 54.9% 28.5%

Net impairment losses on other assets and liabilities (20) (50) n.s. (18) (2) (48) n.s. n.s.

Net provisions for risks and charges (15) (21) 43.4% (4) (4) (17) n.s. n.s.

Profits from disposal of equity investments 1 0 (97.7%) 1 0 0 (57.1%) (99.2%)

Pre-tax profit from continuing operations 194 249 28. 2% 44 208 41 (80.1%) (6.8%)

Taxes on income for the period from continuing operations 215 (75) n.s. 292 (95) 20 n.s. (93.2%)

Profit for the period attributable to non-controlling interests (13) (14) 6.8% (5) (7) (7) (0.4%) 40.1%

Profit for the period attributable to the shareholders of the Parent before impairments on goodwill and intangible assets

396 160 (59.7%) 331 105 54 (48.6%) (83.6%)

Impairment on intangible assets (144) - (144) - -

Profit for the period 252 160 (36.6%) 187 105 54 (48.6%) (71.1%)

Profit for the period NET OF NON RECURRING ITEMS 70 1 21 72.1% 5 95 25 (73.2%) n.s.

5

+77.5 +4.8

+78.9

-70.8 -13.5 +2.9

1H2012 Profit net of non-recurring items: different ial contribution vs. 1H2011

Appropriate timing in catching market

opportunities

Lower loan volumes, effective repricing, positive proprietary

portfolio contribution

Staff headcounts reduction, continued

control of other administrative

expenses, lower PPA

70 bps annualised (51 in 1H2011)

(€ mln)

70.0120.5

-15.6 - 0.5

-70.8 -13.5 -13.2+2.9

1H11 normalised* net

profit

NII net commissions

net results from finance

other income items

operating expenses

net LLPs other impairments

taxes non-controlling interests

1H12 normalised* net

profit

6

+72.1% YoY

* Net of non-recurring items (please see Annex 2 for details)

€ bln (IAS values, including interest accruals and amortised cost)

30 June'11 31 Dec '11 31 Mar '12 30 June'12 % quarterly changes

% annua l changes

Current accounts and deposits 44.7 46.1 45.6 45.4 -0.4% 1.5%

Term deposits, other payables and repos 3.9 3.7 4.4 4.5 1.9% 14.6%

Securities in issue: Network banks + UBI 23.8 23.5 24.0 24.1 0.4% 1.1%

Securities in issue: mainly customer CDs 1.9 2.0 2.1 2.1 -1.3% 9.7%

Centrobanca funding (securities in issue) 4.2 4.3 4.3 4.3 0.5% 1.3%

Direct funding from ordinary customers 78.6 79.5 80.4 80.4 0.0% 2.2%

Institutional funding 27.6 23.3 19.1 21.9 14.7% -20.6%

TOTAL FUNDING 106.2 102.8 99.4 102.2 2.8% -3.7%

Balance sheet: Positive trend confirmed in Retail F unding, up by 2.2%

*

� Current accounts and deposits + term deposits up by 2.6% YoY� Securities placed with ordinary customers up by 1.1% YoY. In 1H2012, €3.6 bln of bonds issued against €2.7 bln matured with a 135% replacement rate*****

TOTAL FUNDING 106.2 102.8 99.4 102.2 2.8% -3.7%

7

Direct funding: breakdown table as stated in Annex 8*Centrobanca: securities issued are placed on third parties’ customers. No issuances in 1H2012** For more details on Institutional Funding, please see Annexes 9 and 10*** Taking into account the repurchase activity on outstanding bonds carried out in 1H2012, the replacement rate would stand at 116%

� Loans/Direct Funding from Ordinary Customers

130.8% 125.4% 118.6%

30 June '11 31 Dec '11 30 June '12

96.8% 97.0%93.2%

30 June '11 31 Dec '11 30 June '12

� Loans/Deposit Ratio

NSFR > 1

LCR > 1

� Liquidity ratios

95.380.4

Is the Group dependant on Institutional funding vol atility?A simplified stress exercise

~ 15 bln

€ 5 bln

€ 10 bln

1/3 Short term

2/3 M/L term

Funding gap from ordinary customers Short term interbank

position supported by

€ 11.6 bln* of unencumbered assets

Long term funding sourcessupported by

Funding needs to match loan book composition

30 June ’12(€ bln)

Loans to customers

Direct funding from ordinary

customers

8

M/L term supported by

€ 7.1 bln of tangible equity+

€ 6.3 bln** of outstanding covered bonds

The Group is substantially independent from institu tional fundingLTRO reimbursement is not an issue

* Out of € 23.6 bln of total eligible assets as at 22nd August 2012, of which 12 used for the LTRO with the ECB** Under a € 10 bln Programme

Withdrawals from current accounts January 2011 - Jul y 2012 (Network Banks)

(in thousand euro)

Cash withdrawals from current accounts

Cash withdrawals from ATMs

9

Lending at € 95.3 bln, Following Optimisation Carrie d out starting from 4Q11

102.8 102.8 99.7 97.1 95.396.4 96.9 95.4 92.3 91.2

2Q11 3Q11 4Q11 1Q12 2Q12

end of period quarterly average*

-1.8%-7.2%

Lower Loan Volumes (€ bln) Low Concentration of Credit Risk**

4.0% 3.5% 3.0%

30 June '11 31 Dec '11 30 June '12

10

� De-risking of loan book (performing loans) :- Decrease in riskier positions from 10.6% of loans in Dec 10, 9.4% in Dec 2011 to 8.5% in June 2012.- Increase in the relative collateral from 60.6% in Dec 2010, 65.3% in Dec 2011 to 66.8% in June 2012.- Reduction of customer credit risk concentration (the 10 largest positions represent 3% of the loan book, the 50

largest 8.3%)

� Exit from non strategic business: (also see Annex 4 for break down of loan book by market segment)Non captive business and higher risk lending, € -2.3 bln YoY (Banca 24/7 and UBI Leasing).Merger of Banca 24/7 into UBI Banca completed on 23rd July 2012

� Focus on core businesses:Large corporates: € -3 bln from 30 June 2011

� Low demand due to deteriorated economic conditions

* Interest bearing assets net of deteriorated loans and net of foreign subsidiaries ** Top ten customers exposure

Financial Assets: € 21.4 bln Mainly Related to Invest ments in Italian Government Bonds (84% of total)

Financial assets

Figures in millions of euro

Debt instruments 9,688 16,577 20,109 7,552 10,292 12,386 2,136 3,030 4,531 3,254 3,192

of which: Italian Govies 7,838 14,750 17,921 5,964 8,583 10,227 1,874 2,913 4,502 3,254 3,192

Equity instruments 485 501 457 387 402 355 99 99 102

Units in O.I.C.R.** 230 226 220 101 101 96 2 2 2

Others*** 636 548 576 636 548 576

Total 11,038 17,852 21,363 8,040 10,795 12,837 2,872 3,680 5,211 3,254 3,192

Dec 11 Dec 11Mar 12 Mar 12Mar 12Dec 11 June 12

HTM*Total Portfolio

June 12 June 12

HFTAFS

June 12Mar 12

Revenues support policy implemented in 1H2012 :

� In 1Q2012, investment in Italian Government bonds (€ 3bln in HTM and € 2 bln in AFS) with 3Ymaturity and with no mismatching compared to the LTRO. Moreover € 1 bln short term in HFT

� In 2Q2012, further investments in short term Italian Govies (€ 1.95 bln in AFS, maturity <1 year,and € 1.6 bln in HFT, maturity <6 months) funded through CCG repos

� Total investments in Italian Govies amount to € 17.9 bln (13.4% of total assets)

No exposure to sovereign bonds of countries at risk

*Portfolio not present in 2011** Collective investment units. The amount classified in the Fair Value category (€122 mln) is not shown in the table. These are the only assets present in the Fair Value category. *** Others: financial derivatives and financing

11

Total 11,038 17,852 21,363 8,040 10,795 12,837 2,872 3,680 5,211 3,254 3,192

Net Interest Income shows limited decrease notwiths tanding significantly lower loan volumes, thanks to effective pricing (risk/cos t of funding)

Net Interest Income – yearly evolution

1H11 1H12

-1.5%

+110

1H12At constant

3Q11 Volumes

+9%

Customer Spread Evolution

1,041 1,026

(€ mln)

2.03%2.09% 2.12%

2.03%1.87%

1.22%1.40%

1.27%

0.67%0.40%

2.08% 2.13%2.42%

3.02% 3.01%

-0.05% -0.04%-0.30%

-0.99% -1.14%

2Q11 3Q11 4Q11 1Q12 2Q12

Customer Spread 1M Euribor Mark Up Mark Down

-82bps YoY

-27bps QoQ

-16bps QoQ

-16bps YoY

12

� NII: -1.5% YoY (i.e -15.6 mln€) notwithstanding a 7.2% reduc tionYoY of lending volumes (i.e. -7.5 bln€)

� Effective repricing carried out alongside reduction of loans. Customerspread is down by 16 bps 2Q12/1Q12 and 2Q12/2Q11,notwithstanding a sharper contraction registered by the 1M Euribor ,down respectively by 27 bps 2Q12/1Q12 and 82 bps 2Q12/2Q11

At constant 3Q11 loan volumes , NII would evidence a significantgrowth (+110 mln€)*

� Government bonds included in proprietary portfolio gave a t otalnet contribution of approx. €159 mln to NII compared to appro x. €74 mln in 1H2011

528 514 534 545 517 508

1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

-1.0%

(€ mln)

-1.7%

Net Interest Income – quarterly evolution

* Amount calculated by applying 1H2012 spreads to the difference between actual average lending volumes and thoseas at 30 September 2011

Net Commissions1H2011 1H2012

1H 12/ 1H 11 % 2Q11 1Q12 2Q12 �Guarantees include costs (€ 19.3 mln) on

bonds with State guaranty issued* (1

Resilient Net Commission Income even in an unfavour able market environment

(€ mln)

12

1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

292 295 292315

Performance fees

299287

Net Commissions – quarterly evolution -

Figures in € mln 1H2011 1H2012 % C H A N GES

2Q11 1Q12 2Q12

Guarantees granted 24.9 6.3 -75% 12.0 6.1 0.2

Management, trading and advisory services 274.6 272.6 -1% 134.1 143.1 129.6

Of which:

Portfolio management 132.0 113.0 -14% 67.2 57.6 55.4

Placement of securities 48.5 72.6 50% 19.0 38.6 34.0

Third party services distribution 80.2 67.4 -16% 42.5 34.0 33.4

Collection and payment services 54.3 54.7 1% 27.6 25.9 28.8

Services for factoring transactions 13.3 13.2 -1% 6.4 7.3 5.9

Current accounts management 102.6 104.0 1% 52.5 50.9 53.1

Other services 116.9 135.2 16% 62.0 66.1 69.1

Total 586.6 586.1 -0.1% 294.6 299.4 286.7

�Guarantees include costs (€ 19.3 mln) onbonds with State guaranty issued* (1st

issue in Jan and 2nd issue at the end ofFeb 2012)

Excluding these costs, net commissions would be up by 3.2% YoY

�Management, trading and advisory services :

−good contribution from the placement ofsecurities thanks to the launch of a newrange of products by UBI Pramericabetween end 2011 and 2Q2012

−lower fees from indirect funding (indirectfunding decreased by 12.1% YoY to 69bln)

13* € 6 bln issued of which 3 bln value date 2nd Jan 2012 and €3 bln value date 27th Feb 2012. The cost of these guarantee was 7.7 in 1Q2012 and 11.6 in 2Q2012** Up-front fees on placement of securities were € 23.2 mln in 1H2011 and € 1.5 in 1H2012 (of which € 0.1 mln in 2Q12)

**

Total Operating Costs Evolution (including PPA effe cts) from 2007 to 2011

(€ mln)

1,540 1,5841,466 1,452 1,423

765 749 777 770 718

245 278 272 247 248

FY 2007 pro-forma FY 2008 FY 2009 FY 2010 FY 2011 *

Staff costs

Other administrative costs

D&A

14

Total operating costs (€/mln)

(YoY trend %) 2.4% -3.7% -1.8% -3.2%

2,550 2,611 2,515 2,469 2,389

Staff evolution (end of period)

20,980 20,680 20,285 19,699 19,407

* 2011 year end one off impairments on goodwill and intagibles not included

21,700

1 April 2007

� Reduction in all cost items due to lowernumber of staff (from 19,548 in1H2011 to 19,306 in 1H2012), tightadministrative costs control andreduction of PPA impact in D&Afollowing impairment of intangibles in2011

� New organisational structurerationalisation announced in July 2012includes -1,500 FTE with a positiveimpact on staff cost estimated in 70

1H2012 vs 1H2011 Operating Costs Evolution confirms reduction trend

Total operating costs (€/mln)

-6.2%

1,216 1,141

(€ mln)

Staff costs

Other administrative costs

D&A

738683

356 352

122 96

1H2011 1H2012

693

impact on staff cost estimated in 70million euro in 2013 reaching 115 in2014. These further savings areadditional compared to theIndustrial Plan , which includedsubstantially flat staff costs

15

-6.2%

*Includes a release of provisions for approx. 17 million euro

373

185

62

2Q2011

328

177

47

2Q2012

364

176

49

1Q2012

Total operating costs (€/mln) 620 552589

*

Asset Quality

� 82.7% of Customer Loans granted in Northern Italy (approx. 76% in Lombardy andPiedmont that generate around 30% of Italian GDP)

� De-risking of performing loan book (exit from higher risk loans re Banca 24/7, UBILeasing and Centrobanca), progressive reduction of risk concentration and increasein guaranteed positions

� Among the lowest deteriorated loans ratios incidence in Italy

16

� Highest level of secured loans among major Italian peers, coupled with low LTV

� Constant presence of significant write backs

An historically contained provisioning level

NPLS AND IMPAIRED LOANS QUALITY RATIOS

DEC ’11 MAR ’12 JUNE ‘12RATIOS ON NET AMOUNTS

2.49% 2.71% 2.89%NPLs (Sofferenze) / total loans

3.12% 2.98% 3.36%NPLs / total loans (System*)

2.54% 2.67% 2.95%Impaired loans (Incagli) / total loans

Asset Quality: among the lowest deteriorated loans ratio incidence in Italy

472763UBI’s advantage vs. System ( ∆ bps)

17* Only available system data referred to the private sector (source Bank of Italy)

PERFORMINGLOANS

NPLs

IMPAIRED LOANS

From

to

PERFORMINGLOANS

NPLs

IMPAIRED LOANSfrom

To

149

818

41

259

179

777

0.3

123

GROSS INFLOWS AND OUTFLOWS

€ mln 1H11 1H12 Increase in inflows from

performing loans to NPLs and

impaired loans, but also increase

in exits from NPLs and impaired loans to performing

loans

65%

31%55%

76%

Peers Average* UBI

Asset Quality: Highest level of secured loans among major It alian peers

Loan Portfolio Secured (Collateral + Personal Guarantees) Positionsmore than doubled in 2011 vs 2007 (net amounts)

Secured Loans/Total Loans*

Secured Performing Loans/Total Performing Loans*

77% UBIPeers Average* UBI

18

*Source: 2007 and 2011 Financial Reports (Unicredit, Intesa, MPS, Banco Popolare, BPM, BPER), Notes to the Accounts, Part E ,Table A.3.2

Dec 2007 Dec 2011

Secured Deteriorated Loans/Total Deteriorated Loans*

65%

31%

57%77%

Peers Average* UBIUBI

80%

51%71%

82%

Peers Average* UBI

UBI

UBI

Asset Quality: Focus on Performing Loans

Loan to Value (Performing Loans, Stock)

41.5% 45.5% 60.4%

Retail Mortgages Commercial Mortgages

Retail Mortgages

Network Banks Banca 24/7

UBI Banca Retail MortgagesCovered Bonds Pool has the lowest LTV (45.9%) among

current Italian Issuers*(average 52.6%)

19

*Source: Covered Bond Investor Report (Unicredit, Intesa, MPS, Banco Popolare, BPM, Banca Carige)** Source: “Banca d’Italia, Supplemento al Bollettino Statistico, Sondaggio congiunturale sul mercato delle abitazioni in Italia,” figures as at 4Q2011

Loan to Value of retail mortgages (Performing Loans , New Production)

58.1%

66.9%

UBI Network Banks Italian Average

UBI Banca new production of retail mortgages has anaverage LTV of 58.1%, welllower than Italian Average**

(66.9%)

Stated Coverage of Impaired Loans

10.9%10.7%

10.9%

� High percentage of Impaired Loans assisted by real estate co llateral

� Low LTV of impaired loans leaves ample room for credit recoveries:

60.7% 65.0% 68.5% 64.4%

Dec 10 Dec 11 Mar 12 June 12

67% pro forma excluding new

inflows of unsecuredloans from Banca

24/7

Network Banks Banca 24/7

Asset Quality: coverage of Impaired Loans (Incagli)

20

Dec 11 Mar 12 June 12

�Coverage of Impaired Loans net of positions assisted by real estatecollateral :

48.6% 54.9% 65.3%

Retail Mortgages

Commercial Mortgages

Retail Mortgages

22.4%

19.0% 18% 17.0%

Dec 10 Dec 11 Mar 12 June 12

17.9% pro forma excluding new inflows

of unsecured loansfrom Banca 24/7

43.3% 42.7% 41.5%

Asset Quality: coverage of NPLs (Sofferenze)

Stated Coverage of NPLs

� High percentage of NPLs assisted by real estate collateral

� Coverage of NPLs net of collateralised positions is higherthan 75%:

54.2% 60.6% 61%

63.4%

Dec 10 Dec 11 Mar 12 June 12

77.3% pro forma for

NPLs

In June 2012, lower statedcoverage due to NPLs disposalfor a gross amount of 108 mln€(103 mln€ for Banca 24/7 and 5mln€ for Centrobanca) fullyprovisioned for.

42.8% Pro forma StatedCoverage

Dec 11 Mar 12 June 12

21

80.8% 77.5% 77% 76.8%

Dec 10 Dec 11 Mar 12 June 12

NPLsdisposal

Evidence from NPLs closed in 2010 and 2011shows that

Total Coverage* of NPLs = 70.7% More than covers

Losses on Carrying Value = 53.7% (**)

* Coverage is calculated by adding up stated coverage and positions written off** See also annex 6 for details

Generation of writebacks

� Further strengthening of Core Tier 1

� EBA Core Tier 1 target ratio achieved

� Further capital buffers:

� Advanced model on Retail credit risk

� Convertible bond

� Further strengthening of balance sheet structure

The first half in a snapshot

� Low Leverage

� Basel 3 Liquidity ratios already achieved (NSFR, LCR)

� Improvement in Loan/deposit ratio

� The Group is substantially independent from institutional markets

� Good Half Year results contributing to capital

� Strong interest margin performance if weighted by strong decrease in lending

� Important decrease in cost structure

22

Outlook for 2H2012

� The high volatility on markets and the importance thatinstitutional decisions to be taken in coming days willassume, render particularly difficult any assessmentmade today on the outlook for the second half.

� The Group will however continue to use all meansavailable to it in order to exploit the advantage it hasgained with respect to normalised profit for 2011.

23

gained with respect to normalised profit for 2011.

� Annexes

Contents

24

Ratios as at 30 June 2012: Core Tier 1 at 10.24%, Tier 1 at 10.75% and Total Capital Ratio at 15.01%

Annex 1

Figures in millions of euro31 Dec 2011

Basel II standardised

30 June 2012 Basel II AIRB*

Tier 1 (before filters) 8,075.3 8,264.2

Preference shares, minorities saving and priv. shares net of grandfathering

489.2 388.5

Tier 1 capital filters -137.5 -91.4

Tier 1 (after filters) 8,426.9 8,561.4

Deductions from Tier 1 -150.6 -324.6

Tier 1 after filters and specific deductions 8,276.3 8,236.8

Supplementary capital after filters 4,305.1 3,742.5Deductions from supplementary capital -150.6 -324.6

25*Validation AIRB on Corporate Credit Risk obtained in Ma y 2012

Deductions from supplementary capital -150.6 -324.6

Supplementary capital after filters and specific de ductions 4,154.5 3,417.9

Deductions from Tier 1 + supplementary capital -148.6 -157.5

Total supervisory capital 12,282.2 11,497.3

Credit risk prudential requirements 6,746.5 5,638.6Market risk 73.5 76.7

Operational risk 460.7 414.1

Total prudential requirements 7,280.8 6,129.5

Risk weighted assets 91,010.2 76,618.4

Core Tier I after deductions from Core capital 8.56 % 10.24%

Tier I 9.09% 10.75%

Total capital ratio 13.50% 15.01%

251.7159.5

-15.6 -0.5

+98.1 +6.4

+75.0

-70.8-37.8

-289.9 -0.9

+143.8

1H11 stated net profit

NII net commissions

net results from finance

other income items

operating expenses

net LLPs other impairments

taxes non-controlling interests

Impairment on intangibles

1H12 stated net profit

1H2012 Stated Profit: differential contribution vs. 1H2011(€ mln)

Annex 2

NON RECURRING ITEMS (net of taxes) 1H11* 1H12 ∆ 1Q12 2Q12

Impairment losses on AFS securities (mainly ISP) (18.3) (43.9) (25.6) (2.6) (41.3)

Tier 1 tender offer capital gain 15.0 15.0 15.0

Impact on taxes from fiscal regulations 347.5 70.5 (277.0) 70.5

Impairment on goodwill and other intangible assets (143.8) 143.8

Other items (3.7) (2.6) 1.1 (2.1) (0.5)

Total effect of non recurring items 181.7 39.0 (142.7) 10.2 28.8

26

€ -92.2 mln

* All non-recurring items booked in 2Q11

-142.7

Including impact of non-recurring items as follows:

Financial assets (AFS, HFT, FV, HTM) 11,786 11,038 17,852 21,363 81.3% 19.7%

Loans to customers 102,774 99,690 97,106 95,333 -7.2% -1.8%

Property, equipment and investment property 2,078 2,046 2,021 2,002 -3.6% -0.9%

Intangible assets 5,287 2,988 2,980 2,971 -43.8% -0.3%

of which: goodwill 4,286 2,539 2,539 2,539 -40.8% 0.0%

Tax assets 2,313 2,818 2,641 2,632 13.8% -0.4%

Non-current assets and disposal groups held for sale

7 22 37 38 n.s. 1.4%

Other assets 2,476 2,244 1,190 1,351 -45.5% 13.5%

Total assets 132,751 129,804 131,511 133,609 0.6% 1.6%

% quarterly change

31.12.2011 31.03.2012MAIN ASSETS ITEMSFigures in mi ll ions of euro

30.06.2011% annual change

30.06.2012

Reclassified balance sheet: highlightsAnnex 3

Net interbank position 582 3,588 10,218 9,865 n.s. -3.4%

Due to customers 56,200 54,431 52,358 57,075 1.6% 9.0%

Securities issued 49,964 48,377 47,085 45,172 -9.6% -4.1%

Tax liabilities 1,310 702 807 563 -57.0% -30.3%

Net worth attributable to the Parent 11,821 10,781 9,497 9,075 -23.2% -4.4%

Non-controlling interests 943 899 909 870 -7.7% -4.3%

Profit for the period 252 (1,841) 105 160 -36.6% 51.4%

Total liabilities and equity 132,751 129,804 131,511 13 3,609 0.6% 1.6%

% quarterly change

31.12.2011 31.03.2012MAIN LIABILITIES AND EQUITY ITEMSFigures in mi ll ions of euro

30.06.2011% annual change

30.06.2012

27* Including € 12 bln LTRO

*

Lending by market segment

in bln €

30 June '11

30 Sept '11

31 Dec '11

31 Mar '12

30 June '12

% annual changes

% quarterly changes

49.2 49.1 48.2 47.7 46.8 -4.9% -1.8%

of which: Private Customers 21.4 21.5 21.5 21.4 21.4 0.0% -0.2%

Banca 24/7 11.0 10.8 10.5 10.2 9.8 -10.9% -4.0%

Small business 16.9 16.8 16.3 16.0 15.6 -7.3% -2.4%

35.6 35.8 32.0 31.8 30.8 -13.6% -3.1%

of which: Core corporate 17.5 17.4 16.3 16.2 15.9 -9.0% -1.6%

Large corporate 11.0 11.2 8.5 8.6 8.0 -26.7% -6.2%

Centrobanca 7.2 7.3 7.2 7.0 6.8 -4.6% -2.7%

0.9 0.9 0.9 0.8 0.8

Retail

Corporate

Private

Annex 4

28

* Also including other minor companies, IAS adjustments and network banks’ loans not allocated to market segments

Market segment figures restated according to current criteria on customer allocation to market portfolios

** UBI net of intercompany

0.9 0.9 0.9 0.8 0.8 -17.6% -0.7%

17.0 17.0 18.6 16.9 17.0 -0.1% 0.3%

of which: UBI Leasing 9.6 9.4 9.0 8.9 8.5 -11.6% -4.6%

UBI Factor 2.6 2.6 2.9 2.6 2.2 -16.1% -16.5%

UBI 1.0 0.9 2.6 1.3 1.9 94.7% 46.8%

102.8 102.8 99.7 97.1 95.3 -7.2% -1.8%

Private

Other*

Total

**

LOANS TO CUSTOMERS - AS AT 30 JUNE 2012

Asset Quality details

GROSS EXPOSURE IMPAIRMENT LOSSES € mln

NPLs (Sofferenze) 4.79% 1,955IMPAIRED LOANS (Incagli) 3.21% 342

RESTRUCTURED LOANS 0.94% 112PAST DUE** 0.68% 25

TOTAL DETERIORATED LOANS 9.62% 2,433

€ mln %* CARRYING AMOUNT

2.89%2,751 41.54%2.95%2,809 10.85%

0.85%811 12.09%0.67%649 3.71%

7.36%7,020 25.74%

COVERAGE RATIO %

TOTAL PERFORMING LOANS 90.38% 507 92.64%88,313 0.57%

TOTAL LOANS TO CUSTOMERS 100% 2,940 100%95,333 2.99%

4,706

3,151

922

674

9,454

88,820

98,273

€ mln %*

Annex 5

29* As a percentage of total loans** Past due loans affected by new regulation effective 1/1/2012 also including all arrears between 90 and 180 days not backed by

real estate collateral

LOANS TO CUSTOMERS - AS AT 31 MARCH 2012

GROSS EXPOSURE IMPAIRMENT LOSSES € mln

NPLs (Sofferenze) 4.59% 1,960IMPAIRED LOANS (Incagli) 2.91% 312

RESTRUCTURED LOANS 0.97% 101PAST DUE** 0.63% 25

TOTAL DETERIORATED LOANS 9.10% 2,397

€ mln %* CARRYING AMOUNT

2.71%2,633 42.67%2.67%2,596 10.72%

0.91%877 10.32%0.62%604 3.94%

6.91%6,710 26.32%

COVERAGE RATIO %

TOTAL PERFORMING LOANS 90.90% 539 93.09%90,396 0.59%

TOTAL LOANS TO CUSTOMERS 100% 2,936 100%97,106 2.94%

4,593

2,907

978

629

9,107

90,935

100,042

€ mln %*

Network Banks: Analysis of losses incurred on NPLs c losed in 2010 and 2011 shows more than adequate coverage

Annex 6

NPLs

generated

before 2008

NPLs

generated

in 2008

NPLs

generated

in 2009

NPLs

generated

in 2010

NPLs

generated

in 2011

Average

Losses/

Carrying

amount

NPLs closed in 2010 53.97% 38.50% 26.81% 36.24%

53.70%

Losses /

Carrying

NPLs by year of generation

NPLs closed in 2011 67.54% 50.92% 43.36% 23.33% 39.76%

NPLs

generated

before 2008

NPLs

generated

in 2008

NPLs

generated

in 2009

NPLs

generated

in 2010

NPLs

generated

in 2011

Average

coverage

78.98% 59.65% 54.97% 49.37% 37.88% 70.70%

Total coverage

by year of generation of NPLS

53.70%Carrying

amount

*

*Stated coverage plus loans sent directly tolosses in relation to legal procedures 30

Cost of Credit in all Main Group Companies Annex 7

Bps, annualised

1H2011 1H2012Loans to

customers June 2012 € bln

Banca Popolare di Bergamo 32 65 19.3Banco di Brescia 37 45 13.5Banca Popolare Commercio Industria 9 38 8.5Banca Carime 53 72 4.7Banca Popolare di Ancona 62 68 7.7Banca Regionale Europea 27 39 6.7Banca di Valle Camonica 102 63 1.8

31

Banca di Valle Camonica 102 63 1.8Banco di San Giorgio 47 137 2.8Banca 24-7 104 93 9.8Centrobanca 78 62 6.8UBI Leasing 95 161 8.5UBI Factor 9 40 2.2

UBI Banca Group 51 70 95.3

Securities Portfolio Details*

Reflects investments made in Italian Government bonds

Annex 8

Composition of the portfolio 31.12.2011 31.03.2012 30.06.2012

Government bonds 70.6% 85.5% 90.8%

Corporate bonds (mainly bank issues) 27.1% 13.1% 8.0%

Hedge funds 1.2% 0.7% 0.6%

ABS 0.0% 0.0% 0.0%

Funds and shares 1.1% 0.7% 0.6%

Floating rate** 44.4% 30.3% 25.0%

Fixed rate 47.5% 64.0% 70.4%

Structured securities 5.9% 4.3% 3.4%

BY TYPE OF FINANCIAL

INSTRUMENT

BY FINANCIAL PROFILE

32

* Analysis refers to a portfolio which excludes participations and some smaller portfolios** Fixed rate securities with asset swaps are considered as floating rate securities; securities in asset swap represent 77% of

floating rate securities as at 30 June 2012

Compared to 31/03/2012,the average rating ishigher thanks to the sale,occurred in the quarter, oflow rated CorporateBonds. On the 13th of July,Moody’s downgraded theItalian debt, bringing theaverage rating to Baa2

Structured securities 5.9% 4.3% 3.4%

Shares, funds, convertible bonds 2.3% 1.5% 1.2%

BY CURRENCY Securities in euro 98.9% 99.3% 99.5%

Securites of the euro area 96.3% 97.6% 98.1%

USA securities 1.7% 1.2% 1.0%

Investment grade 98.2% 98.7% 98.6%

Average rating Baa1 Baa1 A3

BY GEOGRAPHICAL DISTRIBUTION

BY RATINGS (BONDS)

Direct Funding: Breakdown as Stated in the Annual R eport Annex 9

30 June'11 31 Dec '11 31 Mar '12 30 June'12 % annual changes

% quarterly changes

Due to customers 56.2 54.4 52.4 57.1 1.6% 9.0%

Current accounts and deposits 44.7 46.1 45.6 45.4 1.5% -0.4%

Term deposits and other payables 2.6 2.8 3.9 4.2 59.0% 7.3%

Repurchase agreements 8.9 5.6 2.9 7.5 -15.1% n.s.

of which : with CCG 7.6 4.6 2.4 7.2 -5.0% n.s.

with retail customers 1.3 1.0 0.5 0.3 -73.5% -36.4%

Securities in issue 50.0 48.4 47.1 45.2 -3.3% -4.1%

Ordinary customer base(Network banks+UBI issues)

23.8 23.5 24.0 24.1 1.1% 0.4%

Centrobanca issues 4.2 4.3 4.3 4.3 1.3% 0.5%

Covered Bonds 5.6 6.1 6.1 6.3 12.5% 2.0%

€ bln (IAS values, including interest accruals and amortised cost)

Repos with CCG:increase in 2Q2012 to fund purchase of short

term securities

No new bond issues on

33

Covered Bonds 5.6 6.1 6.1 6.3

EMTN 11.2 10.3 8.8 7.1 -36.6% -19.0%

CD and ECP 2.8 1.8 1.5 1.0 -64.2% -32.0%

Preferred shares 0.5 0.5 0.3 0.3 -25.7% -0.4%

Other (mainly foreign currency CDs with retail customers)

1.9 2.0 2.1 2.1 9.7% -1.3%

Total 106.2 102.8 99.4 102.2 -3.7% 2.8%

Net Interbank exposure : -€ 9.9 bln due to LTRO (€12 bln total exposure towards ECB)

Eligible Assets as at 22nd August 2012: € 23.6 bln (of which € 11.6 unencumbered)

44%

24%

10%

16%6% Goverment Bonds

State guaranteed Bonds

Retained Covered Bonds

Retained Securitisations

Other Eligible Loans

Composition of Eligible Assets Pool

wholesale markets in 1H2012

(3.5 bln in 1H2011)

1.07

3.18

2.15

0.22 0.10 0.05 0.05 0.03

0.19

0.50

1.751.00 1.00 1.00

July-Dec 2012

2013 2014 2015 2016 2017 2018 2019 2020 2021

EMTN Lower Tier II (at the first call date) Covered Bonds

Institutional and Retail Maturities and Issuances

Maturities by year (€ bln)(nominal amounts, excluding preference shares for € 0.5 bln)

EMTN and Covered Bonds

Annex 10

*

Maturities 2012 (€ bln) 1H 3Q 4Q

EMTN 3 0.07 1

2.145.36 4.98 4.211.03

1.28 2.776.14

July-Dec 2012 2013 2014 2015-2040

UBI Banca and Centrobanca Network banks

34** Including soft mandatory convertible bond

* Plus 0.5 billion euro with BEI issued in 2010 (0.25 bln) and in 2011 (0.25 bln), expiring respectively in 2022 and 2021 and subject to progressive amortisation

Retail Bonds

Maturities by year (€ bln)(nominal amounts netted of bond repurchase)

** Maturities 2012 (€ bln) 1H 3Q 4Q

UBI Banca + Centrobanca 0.11 0.73 0.30

Network banks 2.6 1.16 0.98

Indirect Funding Evolution

Mix of AuM: breakdown by fund type in UBI Pramerica

Annex 11

In bln€ June '11 Dec '11 Jun '12 Jun '12 vs. Dec '11

29.0 25.2 25.0 (0.6%)

12.1 11.7 11.5 (2.1%)

37.4 35.2 32.5 (7.5%)

78.6 72.1 69.0 (4.2%) Total indirect funding

AUM (excl.bancassurance)

Bancassurance

AUC

Equity14%

Balanced7%

Bond60%

Cash15%

Flexible4%

35

31 December ‘11

Source: Assogestioni’s “PATRIMONIO GESTITO*” aggregate

* Customers assets managed to which assets received for management under a mandate from other managers are added and fromwhich assets entrusted under mandate to other managers are subtracted. With reference to UBI Pramerica, as from June ‘12Assogestioni includes again in this aggregate the amounts managed by third parties, i.e. approx. € 3 bln managed by Prudential

30 June ‘12 (unchanged vs. 31 March ‘12)