The UBI Banca Group

Consolidated Results as at 30th September 2015

11th November 2015

This document has been prepared by Unione di Banche Italiane Spa ("UBI") for informational purposes only and for use in the presentation of

November 2015. It is not permitted to publish, transmit or otherwise reproduce this document, in whole or in part, in any format, to any third

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This document contains statements that are forward-looking: such statements are based upon the current beliefs and expectations of UBI and

are subject to significant risks and uncertainties. These risks and uncertainties, many of which are outside the control of UBI, could cause the

results of UBI to differ materially from those set forth in such forward looking statements.

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The disclosure relating to shareholdings of top management is available in 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 fuller

comprehension of the rules followed in preparing the reclassified financial statements.

Disclaimer

2

Executive Summary

Balance sheet indicators confirm high quality in terms of capital, liquidity and leverage

9M15 Net Profit at 162 mln/€, up by +8.1% vs. 9M14, notwithstanding the estimated contribution to

the Single Resolution Fund and to the Deposit Guarantee Scheme (21 mln/€ net)

Core profitability (NII + Fees & Commissions - LLPs - Operating costs) up by +20.8% 9M15/9M14

Right of withdrawal exercised by 1,103 shareholders for a total of 35,409,477 shares.

Second phase of the procedure: offer of the shares coming from the exercise of the withdrawal

right to the other shareholders: from 12 November 2015 to 12 January 2016

3

4

9.5%

Strength of capital ratios confirmed, CET1 phased in at 13%

June '15 Sept '15

CET 1 PHASED IN

+6 bps vs June 15 12.94% 13.00% and

+350 bps vs 9.5% (Feb ‘15 SREP

CET1 requirement)

• 3Q15 profit not included

9.5%

June '15 Sept '15

CET 1 FULLY LOADED

+23 bps vs June 15

12.33% 12.56%

• No profit included, either

related to 3Q15 and for

future years

As usual, in 4Q14, the Group will update the credit risk parameters included in internal rating model to fully include 2014

See annex 2

Camille.Lemercier@exanebnpparibas.com

June '15 Sept '15

TOTAL CAPITAL PHASED IN

-31 bps vs June 15 15.62%

15.31% and

+431 bps vs 11% (Feb ‘15 SREP

TC requirement)

9.5% Basel 3 LEVERAGE RATIO

6.14%

5.88%

6.22% 6.04%

Phased in Fully loaded

June

‘15 June

‘15

Sept

‘15 Sept

‘15 • 3Q15 profit not included

5

Best in class portfolio, strong de-risking leading to lower deterioration

9.5% PERFORMING LOAN PORTFOLIO RISK PROFILE

MARCH

‘15

MARCH

‘15

September 2015 vs previous years

Low Risk 73.7% vs 71% in Dec ’14

vs 67.2% in Dec ’13

vs 58.3% in Dec ’12

High risk 4.8% vs 5.5% in Dec ’14

vs 6.4% in Dec ’13

vs 8.4% in Dec ’12

Unrated 5.7% vs 5.8% in Dec ’14

vs 5.7% in Dec ’13

vs 5.7% in Dec ’12

Medium Risk 15.8% vs 17.7% in Dec ’14

vs 20.7% in Dec ’13

vs 27.6% in Dec ’12

Perimeter: Network Banks + UBI Banca (IRB perimeter)

9.5% TOTAL PORTFOLIO CONCENTRATION

OF RISK 9.5%

GEOGRAPHICAL DISTRIBUTION

as at June ‘15 9.5%

THE LOWEST RATIO OF TOTAL GROSS

DETERIORATED LOANS/TOTAL GROSS LOANS

Customers or Groups 31.12.2007 30.09.2015

Largest 10 5.0% 2.9%

Largest 20 7.7% 4.8%

Largest 30 9.6% 6.1%

Largest 40 11.0% 7.2%

Largest 50 12.1% 8.1%

Largest customers or groups as a percentage of total

loans and guarantees

67.3%

6.4% 5.6%

4.2% 2.8%

2.7% 2.4% 2.3%

1.9% 1.8%

0.7% 0.7%

1.2%

Lombardy

Piedmont

Latium

Marches

Liguria

Campania

Emilia Romagna

Apulia

Calabria

Veneto

Umbria

Abruzzo

Other*

73.7%

* Other: includes the market shares of Basilicata, Friuli Venezia

Giulia, Molise, Tuscany, Valle d’Aosta and Trentino Alto Adige

24.8% 23.5%

17.1% 17.0% 15.6% 15.5%

Bank A Bank B Bank C Bank D Bank E UBI Banca

Peer Group: UCG, ISP, BP, BPER, BPM

As at 30 Sept 2015

Lending Market Share unvaried YoY

Long term lending stable notwithstanding competitive pressure

Decrease in short term lending, also net of CCG

6

Management data

TOTAL GROSS LOANS:

STABLE MARKET SHARE*

5.68% 5.67% 5.67%

Sept'14 June'15 Sept'15

* Net of Bad Loans, referred to households,

corporate and financial companies. It does not

include loans to CCG

Source: Bank of Italy

85.6 84.6 85.3 Total Lending

LENDING COMPOSITION (bln/€)

83.8

55.3 55.8 55.5 55.7

23.3 22.1 23.2 21.7

7.0 6.7 6.6 6.4

Dec '14 Mar '15 June '15 Sept '15

Run-off (mainly ML term)

Active - Short term

Active - Medium/Long term

of which

Of which CCG: 1 bln/€ in Dec ’14, 0.8 bln/€ in Mar ‘15, 1.1 bln/€ in June ‘15 and

0.7 bln/€ in Sept ‘15

See annex 6

Active - Medium/Long term

NEW ORIGINATIONS IN MEDIUM/LONG TERM LENDING - NETWORK BANKS

Network Banks confirm improvement in medium/long term lending

originations

7

24.9% 32.0%

16.8% 15.6%

54.8%

121.1%

30.0% 24.0%

Total Corporate Retail - Private Retail - Small business

9M14 vs 9M13 9M15 vs 9M14

of which

MEDIUM/LONG TERM LENDING

TLTRO

8.1bln/€ taken in Dec ’14/Mar ’15/Sept ‘15

As at 31 Oct ’15:

• Financing requests received: 7.7 bln/€

• Loans either granted or disbursed: 4.7 bln/€

8

Dynamics of customers in the UBI Group (detail of “value” customers”)

Total number

of new

customers

162,600

New

Customers

Customers Lost Net flows

~79,300

(48.8%) ~ 68,200

(46.8%)

~ 11,100

(65.8%)

Tot net new

customers

+16,800

No

n v

alu

e c

usto

me

rs

Va

lue

cu

sto

me

rs

~ 83,300

(51.2%) ~ 77,500

(53.2 %)

~ 5,700

(34.2%)

Total

number of

customers

lost 145,700

January – September 2015

Note: “Value” customers, e.g.:

Retail customers with a Medium

long term loan or with wealth >

25,000 euro or with three products of

which one is a current account

Private banking customers with

wealth > 100,000 euro (for new

customers wealth as at Sept ‘15, for

lost customers wealth as at Dec

‘14) ....

71%

9

NOTE: Numerator includes new disbursements, denominator includes reimbursements and exits to non performing.

* Management accounts, excluding Bad Loans and IAS effect

** Excludes UBI Banca Private Investment (merged with IW Bank in May 2015)

New origination

Reimbursement =

New origination

Reimbursement

=

The portfolio in run off accounts for a decrease in lending of

0.6 bln/€ in 9M15

FOCUS ON MEDIUM / LONG TERM LENDING* (74% of total lending)

Strong improvement in new Medium to Long Term new lending origination

in 9M15, leads to a replacement rate of 119% in Network Banks, and of 71%

in Product Companies, significantly higher than in previous periods

41.1 bln/€

(39.9 bln/€ in Dec ’14)

NETWORK BANKS**

57.4 bln/€

(57.5 bln/€ in Dec ’14)

TOTAL MLT STOCK**

10.3 bln/€

(10.9 bln/€ in Dec ’14)

PRODUCT COMPANIES

6.0 bln/€

(6.6 bln/€ in Dec ’14)

RUN-OFF PORTFOLIO

in 9M15

vs. 48% in 9M14

54% in FY14

119%

in 9M15

vs. 96% in 9M14

101% in FY14

The Group’s solid liquidity position (NSFR and LCR >1, loan to deposit ratio

94.2%, eligible assets 26bln€) allows optimal management and flexibility of

funding mix

10 * Bonds placed on third party banks networks

IAS amounts in b ln€ Dec '14 June '15 Sept '15% change vs.

Dec '14

DIRECT FUNDING FROM ORDINARY

CUSTOMERS74.0 71.7 70.9 -4.1%

Current accounts and deposits 44.3 44.7 44.1 -0.4%

Term deposits, other payables and repos 1.8 1.6 1.5 -13.2%

Securities in issue:

Network banks + UBI 23.6 21.7 21.6 -8.4%

Extra-captive customers* 3.3 3.2 3.2 -2.7%

Other (mainly customer CDs) 1.0 0.5 0.4 -55.6%

DIRECT FUNDING FROM INSTITUTIONAL

CUSTOMERS19.3 22.6 18.1 -5.9%

Covered Bonds 9.8 9.7 9.8 -0.9%

EMTN 3.1 3.1 3.1 0.2%

CD and ECP 0.8 0.7 0.1 -83.4%

Repos with CCG 5.5 9.1 5.1 -7.7%

TOTAL DIRECT FUNDING 93.2 94.3 89.0 -4.5%

See annex 3

• In October 2015 a New Long 7

Year Covered Bond issuance for

750 mln/€ (coupon at 1.00 %

equivalent to a spread of 36

basis points above the

interpolated mid swap rate (7y

and 3 months))

• Ordinary customers partially

shifting to more profitable

investment products within the

Group, with consequent growth in

AUM stocks

• Group liquidity position is

confirmed solid

11

AuM +11% and Bancassurance products +13.7% vs Sept ’14, drive +10.6%

increase in securities related commissions

Bond Balanced Equity Flexible Cash

bln/€ Sept '14 Dec '14 June '15 Sept '15% change

vs Sept '14

% change

vs June '15

AuM 30.0 30.7 34.0 33.3 11.0% -2.1%

Bancassurance 12.2 12.6 13.8 13.9 13.7% 1.2%

AuC 33.9 32.5 31.3 31.9 -5.8% 2.0%

Total Indirect Funding 76.1 75.9 79.1 79.2 4.0% 0.1%

Sept ‘15

Indirect Funding Indirect Funding

Evolution

49%

26%

11%

10% 4%

• Positive impact on commission

income from securities, moving

to 523 mln/€ in 9M15 from 473

in 9M14

• UBI Pramerica SGR AUM

composition: room for

improvement in the mix

Market effect Sept’15 vs June’ 15 on

Total indirect funding: -1.7 bln/€

(of which AuM: -1.4 bln/€)

12

Progressive recomposition and downsizing of Italian Govies Portfolio:

-3.6 bln€ vs Dec 2014

COMPOSITION OF ITALIAN

GOVIES PORTFOLIO

in bln/€

SIZE OF TOTAL ITALIAN

GOVIES PORTFOLIO

in bln/€

17.5

3.6 0.8

16.1

3.5 0.8

14.6

3.5 0.1

AFS HTM HFT

Dec '14 June '15 Sept '15*

20.5

IAS value

19.2 18.1

Nominal value

21.9 18.2 15.6

IAS value Nominal value IAS value Nominal value

AFS RESERVE AS

AT 30/09/2015:

193 mln/€

* Nominal value at Sept ’14: 18.8 bln/€

As at 30 Sept ‘15,

modified rate duration

of whole Italian Govies

Portfolio: 1.23

Average Maturity:

5.74Y

Ongoing de-risking of

the portfolio to reach an

average maturity of

5.22Y at year end

13 * TLTRO for 8.1 bln/€ expiring Sept 2018

Loan to Deposit ratio = 94.2% NSFR and LCR > 1

Confirmed sound liquidity position framework

...Total eligible assets at 25.8 bln/€, 59% of current accounts and deposits

Eligible Assets

25.8 bln/€

(net of haircut,

as at 28thOctober 2015)

Composition (%) Usage (bln/€)

69% 8%

10%

13%

Italian Govies

Retained securitisations

Retained covered bonds

Other (ABACO)

Unencumbered

Pledged to ECB*

CCG Repos

14.6

3.1

8.1

14

PPA allocated line by line

B

A

In 9M15, net profit at 162 €/mln (+8.1% YoY)

C

B

A Notes: Net result from finance includes ~89 mln/€ from AFS disposals - Govies and other - in 9M15 (vs. ~109 mln/€ in 9M14)

Profits from equity-accounted investees, include:

- 9.7 mln/€ from Zhong Ou in 9M15 (vs. 1.6mln/€ in 9M14) thanks to strong growth in AuM reaching 21.5 bln€ at end Sept’ 15

- 9.8 mln/€ from Lombarda Vita in 9M15 (vs. 5.7 mln/€ in 9M14)

- 2.1 mln/€ from Aviva Vita in 9M15 (10.1 mln/€ in 9M14)

Net provisions for risk and charges include the estimated annual contribution to the Single Resolution Fund for 22.8 mln/€ (accounted in 2Q15)

and to the Deposit Guarantee Scheme for 11.3 mln/€ (accounted in 3Q15)

C

MAIN INCOME STATEMENT ITEMS

Figures in € mln9M14 9M15

% change

9M15 vs 9M143Q14 2Q15 3Q15

% change

3Q15 vs 3Q14

% change

3Q15 vs 2Q15

Net interest income 1,376 1,246 (9.5%) 468 417 399 (14.8%) (4.3%)

Net commission income 908 970 6.8% 299 328 300 0.7% (8.4%)

Net result from finance 151 139 (7.7%) 14 53 28 100.8% (47.6%)

Profits of equity-accounted investees 29 23 (19.6%) 8 13 4 (56.1%) (73.3%)

Other income items 102 93 (8.6%) 42 32 31 (24.9%) (2.4%)

Operating income 2,558 2,467 (3.5%) 822 843 758 (7.7%) (10.1%)

Staff costs (977) (973) (0.4%) (329) (320) (318) (3.3%) (0.6%)

Other administrative expenses (458) (455) (0.8%) (147) (165) (142) (3.7%) (14.2%)

Net impairment losses on property, equipment and investment

property and intangible assets(128) (115) (10.2%) (42) (39) (37) (13.0%) (5.9%)

Operating expenses (1,563) (1,542) (1.3%) (518) (524) (497) (4.2%) (5.3%)

Net operating income 995 925 (7.0%) 303 319 262 (13.8%) (17.9%)

Net impairment losses on loans (626) (558) (10.9%) (197) (199) (169) (14.5%) (15.3%)

Net impairment losses on other financial assets and liabilities (2) (6) n.s. (0) (2) (3) n.s. 28.2%

Net provisions for risks and charges (4) (48) n.s. (1) (25) (19) n.s. (24.9%)

Profits (losses) from disposal of equity investments (0) 0 n.s. 0 0 0 n.s. n.s.

Pre-tax profit from continuing operations 362 314 (13.4%) 105 93 72 (31.7%) (22.9%)

Taxes on income for the period from continuing operations (187) (128) (31.8%) (52) (37) (29) (45.1%) (22.9%)

Profits for the period attributable to non-controlling interests (25) (23) (9.3%) (9) (7) (6) (40.1%) (25.2%)

Charges for exit incentives

(net of tax and non-controlling interests)(1) n.s

Profit for the period 150 162 8.1% 44 49 38 (14.0%) (22.6%)

Profit for the period NET OF NON-RECURRING ITEMS 175 176 0.3% 45 54 40 (10.3%) (26.2%)

C C

368 344

331

100 73

68

3Q14 2Q15 3Q15

15

(€ mln)

1,086 1,027

290 219

9M14 9M15

NII from Financial Assets & Interbank Exposure

NII from Business with Customers

Net Interest Income 1,376 1,246 468 417 399

Quarterly evolution 9M evolution

See annex 7

NII mainly impacted by reduction/recomposition of the financial portfolio

(also following expiry of high yield securities in 4Q14), customer margin

pressure (mainly on short-term), decreasing volumes (short term) and

portfolio in run-off

-61

-71

Reduction/recomposition of

the financial portfolio: expiry

of 4.9 bln€ high yield

securities in 4Q14, reduction

of the portfolio in 9M15, etc...

Main Drivers

1. M/L term portfolio in run-off:

approx. -23 mln€ y/y

2. Short term: strong decrease

in short term volumes and

price war

16

* Includes FX negotiations.

** State Guaranty Bonds: first reimbursement 3 bln/€ value 7th March ’14 and remaining 3 bln/€ value 7th August ’14

*** Funds&sicav, insurance products, other third party products

Net Commission Income at 970 mln/€: +6.8% YoY.

3Q15 vs 2Q15 trend affected by usual seasonality and lower placement of

indirect funding products

435 446

473 523

9M14 9M15

908 970

148 149 149

151 179 151

3Q14 2Q15 3Q15

+10.6%

+2.5%

+6.8%

299 328 300

€ mln 3Q14 2Q15 3Q15

Upfront fees*** 31 40 27

% on total commissions 10.3% 12.3% 8.9%12.4% 12.3%

9M14 9M15

113 119

Quarterly evolution 9M evolution

(€ mln) (€ mln)

Banking Services

Commissions

Securities

Management, Trading

& Advisory Services*

Net commission income

from:

See annex 8

Volumes YoY:

+11% AuM

+ 13.7% Bancassurance

Lower placement of indirect funding products**

(1.5 €/bln in 3Q15 vs 2.1 €/bln in 2Q15)

mainly due to summer break

17

Lowest quarterly level of operating costs since 2007

* Costs related to the integration between IW Bank and UBI Banca Private Investment effective 25 May 2015

** PPA effect amounted to 14.8 mln/€ in 9M14 and to 9.9 mln/€ in 9M15

9M15 vs 9M14

Stable evolution of staff costs: lower average number of headcount (on

average -726 resources corresponding to -29 mln€) compensating increase in

wages and lower recourse to reduction of working hours

Relevant savings in Other Administrative Expenses thanks to ongoing cost

control in all areas of activity

Depreciation and amortisation down also following lower PPA (-5 mln€).

High level of investments related to development projects (regulatory and

business) confirmed (129 mln€ in 2015, up 11 mln€ compared to 2014)

% change % change % change

9M15 vs 9M14 3Q15 vs 3Q14 3Q15 vs 2Q15

Staff costs 977 973 -0.4% 329 320 318 -3.3% -0.6%

Other Adm. Expenses excluding

IW Bank-UBI PI integration costs458 447 -2.5% 147 159 141 -4.0% -11.2%

IW Bank-UBI PI integration costs* - 8 n.s. - 6 0 n.s. n.s.

D&A (including PPA**) 128 115 -10.2% 42 39 37 -13.0% -5.9%

Total operating costs 1,563 1,542 -1.3% 518 524 497 -4.2% -5.3%

Total operating costs excl. IW

Bank-UBI PI integration costs1,563 1,534 -1.8% 518 518 496 -4.3% -4.2%

3Q159M159M14mln/€ 3Q14 2Q15

COVERAGE Dec '14 June '15 Sept'15

Performing loans 0.63% 0.58% 0.56%

Total deteriorated loans 27.1% 27.8% 27.7%

including write-offs 37.1% 37.6% 37.3%

of which

Bad Loans (Sofferenze) 38.6% 38.7% 38.7%

including write-offs 53.4% 53.0% 53.0%

Unlikely to pay 16.7% 17.1% 17.1%

Past due loans 4.4% 5.4% 5.1%

8,589

10,958

12,674 13,049 13,368 13,651

Dec '11 Dec '12 Dec '13 Dec '14 June '15 Sept'15

NET DETERIORATED LOAN STOCKS (€ mln)

GROSS DETERIORATED LOAN STOCKS (€ mln)

6,280

8,105

9,312 9,508 9,651 9,872

Dec '11 Dec '12 Dec '13 Dec '14 June '15 Sept'15

Increased coverage compared to Dec 2014 (stable vs June ‘15)

Note: the increase in 2012 vs 2011 deteriorated loans also reflects change in posting criteria for past due (from 180 to 90 days)

*Source: FY14 Financial Report, table A.3.2, Notes to the accounts 18

See annex 4

Coverage unvaried

notwithstanding disposal of 131

mln/€ (of which 31 in 3Q15) of

bad loans, provisioned 66%

+2.1%

+2.3%

9.5% TOTAL COVERAGE

27.7%

116.8% 144.5%

Fair Value

Real Estate

Collateral*

TOTAL

COVERAGE

Cash

Coverage

19

New inflows from performing to deteriorated loans significantly lower in

3Q15 vs 3Q14 (overall -37.9% vs Sept ‘13)

3,064

1,923 1,903

9M13 9M14 9M15

INFLOWS FROM PERFORMING TO DETERIORATED LOANS (NPE) (€/mln)

-37.9%

-1%

TOTAL DETERIORATED LOANS (NPE)

Sept '14 Sept '15

BAD LOANS

(“Sofferenze”)

Sept '14 Sept '15

UNLIKELY TO PAY

Sept '14 Sept '15

PAST DUE

115.8 87.5

652.3

1,043.3

1,155.3

772.1

LLPs (€/mln)

LLPs are significantly lower than in 9M14

626

558

9M14 9M15

-10.9%

LLPs (€/mln) - quarterly

199 230

197 190 199 169

1Q 2Q 3Q

-4.2% -13.7% -14.5%

1Q14 1Q15 2Q14 2Q15 3Q14 3Q15

1H14 1H15 3Q14 3Q15

1,260 1,275 663

628

-5.3% =

Potentially the non performing forborne exposures, for which

the cure period (12 months) expires and which show overall

a situation of regularity, may represent a return flow to

performing status estimated at approximately €200 million

per quarter (net of bad and restructured forborne exposures)

20

Outlook

The overall trend for operating income is forecast to be higher than in the third quarter although

with differing contributions from the individual components:

the pressure on net interest income may continue, although to a lesser extent than in the third

quarter, in a background of limited growth in loans and strong competition on spreads at

system level and following the continuation of the strategy to re-position the proprietary

securities portfolio;

net fee and commission income should benefit from the usual positive seasonal factors

normally experienced in the last quarter of the year;

a favourable environment for containing sovereign risk could allow better results to be

achieved for trading and hedging activity than in the previous quarters.

Actions undertaken in 2015 allow to confirm the objective of containing operating expenses in

line with those for 2014, notwithstanding the additional costs related to the contribution to the

European Resolution Fund and the Deposit Guarantee Scheme, estimated at over €30 million for

the current year.

Improvements in the macroeconomic environment, confirmed by the leading indicators, should

allow loan losses to be contained at a level lower than in 2014.

21

Annexes

Main Reclassified Balance Sheet Items

22

Annex 1

* Goodwill impairment in 2014

** Including € 8.1 bln TLTRO

Financial assets (AFS, HFT, FV, HTM) 22,617 23,746 21,870 19,595 -13.4% -10.4%

Loans to customers 84,947 85,644 85,340 83,834 -1.3% -1.8%

Property, equipment and investment property 1,741 1,729 1,756 1,744 0.1% -0.7%

Intangible assets 2,883 1,777 1,760 1,752 -39.2% -0.5%

of which: goodwill* 2,512 1,465 1,465 1,465 -41.7% 0.0%

Tax assets 2,567 2,992 2,753 2,727 6.2% -0.9%

Other assets 778 931 1,435 960 23.5% -33.1%

Total assets 120,539 121,787 119,454 115,689 -4.0% -3.2%

Net interbank position** 12,259 9,952 5,858 7,239 -40.9% 23.6%

Due to customers 45,582 51,617 55,331 50,760 11.4% -8.3%

Securities issued 42,272 41,590 38,996 38,262 -9.5% -1.9%

Tax liabilities 732 630 441 511 -30.2% 15.9%

Net worth attributable to the Parent 10,651 10,530 9,762 9,911 -6.9% 1.5%

Non-controlling interests 831 555 549 532 -36.0% -3.1%

Profit for the period 150 (726) 124 162 8.1% 30.2%

Total liabilities and equity 120,539 121,787 119,454 115,689 -4.0% -3.2%

30.06.2015

30.06.2015% quarterly

change

% annual

change

% annual

change

% quarterly

change30.09.2015

30.09.201530.09.2014 31.12.2014MAIN LIABILITIES AND EQUITY ITEMSFigures in millions of euro

MAIN ASSETS ITEMSFigures in millions of euro

30.09.2014 31.12.2014

23

Annex 2

Capital Ratios (Phased in, Basel 3) as at Sept ‘15:

Common Equity Tier 1 Ratio at 13%, Total Capital Ratio at 15.31%

mln/€ June '15 Sept '15

Risk weighted assets 59,526.3 58,129.1

Total prudential requirements

Credit risk 4,362.8 4,290.9

CVA (Credit Value Adjustment) risk 14.6 14.3

Market risk 84.1 44.5

Operational risk 300.6 300.6

mln/€ June '15 Sept '15

Common Equity Tier 1 Capital

(before filters and transitional provisions)8,163.1 8,319.1

Transitional provisions (minority interest) 191.9 180.3

Transitional provisions (AFS Reserves) -96.0 -97.1

Common Equity Tier 1 Capital filters -3.2 -2.6

Italian Govies filters -14.1 -168.7

Common Equity Tier 1

(after filters)8,241.7 8,231.0

Common Equity Tier 1 regulatory adjustments: negative elements

for deduction excess of expected losses over impairment losses -536.1 -673.1

Common Equity Tier 1 Capital (CET1) 7,705.6 7,557.9

Additional Tier 1 before deductions 39.2 38.4

Additional Tier 1 regulatory adjustments: negative elements for

deduction excess of expected losses over impairment losses -39.2 -38.4

Additional Tier 1 - -

Tier 1 Capital 7,705.6 7,557.9

Tier 2 instruments grandfathering - -

Tier 2 Capital after transitional provisions 1,813.2 1,623.0

Tier 2 capital regulatory adjustments -221.0 -279.5

of which: negative elements for deduction excess of expected

losses over impairment losses -246.5 -304.9

Tier 2 Capital 1,592.2 1,343.5

TOTAL OWN FUNDS 9,297.8 8,901.4

June '15 Sept '15

12.94% 13.00%

PHASED IN CET 1 PHASED IN

June '15 Sept '15

15.62% 15.31%

TOTAL CAPITAL

PHASED IN

TOTAL CAPITAL

PHASED IN

3Q15 profit not included

24

Bond maturities well planned and distributed over time. New Covered Bond

issuance in October 2015

* Inclusive of original 0.5 bln/€ of private placement with BEI expiring within 2022. Further 0.7 bln/€ retained issue not included (Oct ‘15)

2.60

9.52

3.73 4.26 4.47

4Q15 2016 2017 2018 2019 and following

RETAIL BONDS: Maturity Profile

INSTITUTIONAL BONDS: Maturity Profile INSTITUTIONAL BONDS: Maturity Profile

(Nominal amounts in € bln, net of bond repurchases)

(Nominal amounts in € bln)

Decreasing spreads vs. 6M Euribor (bps)

EMTN COVERED BONDS*

RETAIL BONDS: NEW ISSUANCES

0.97

0.10

0.80 0.15

1.00

0.53 1.80

1.05

0.05

1.05

4Q15 2016 2017 2018 2019 2020 and following

5.36

0.03

2015 Maturities 2015 Maturities

EMTN

Covered Bond

2Q

- 0.03

- -

• Bond maturities well planned and

distributed over time

• In October 2015 a New Long 7 Year

Covered Bond issuance for 750

mln/€ (coupon at 1.00 % equivalent

to a spread of 36 basis points above

the interpolated mid swap rate (7y

and 3 months))

2015 Maturities 2015 Maturities

2Q 3Q 1Q

Retail

Bonds 1.62 2.00 1.07

150 126

95 50

FY12 FY13 FY14 9M15

Including CB issue for

750 mln/€ in Oct ‘15

-

3Q

-

Annex 3

1Q

Performing loans, 88.2%

Past due loans, 0.4%

Unlikely to pay loans, 6.3%

Bad loans, 5.1%

Figures in mln€

June '15 Sept '15 June '15 Sept '15 June '15 Sept '15

Performing loans 76,127 74,376 75,689 73,963 0.58% 0.56%

of which forborne 2,342 2,263 2,307 2,229 1.51% 1.50%

Non performing exposures 13,368 13,651 9,651 9,872 27.80% 27.69%

of which forborne 2,483 2,734 2,104 2,318 15.25% 15.21%

- Bad loans ("Sofferenze" ) 6,829 6,920 4,187 4,244 38.68% 38.67%

- “Unlikely to pay” loans 6,150 6,324 5,096 5,241 17.13% 17.13%

- Former impaired loans 5,223 5,394 4,349 4,475 16.74% 17.05%

- Former restructured loans 927 930 747 766 19.37% 17.61%

- Past due loans 389 407 368 387 5.39% 5.07%

Total loan book 89,495 88,027 85,340 83,834 4.64% 4.76%

of which: forborne 4,825 4,997 4,411 4,547 8.58% 9.00%

Gross exposure Net exposure Coverage

Asset Quality details

Days of

arrears

0 90

PERFORMING LOANS PAST-DUE LOANS UNLIKELY TO PAY BAD LOANS

(“Sofferenze”)

t

PERFORMING

FORBORNE NON PERFORMING FORBORNE

Performing loans, 84.5%

Past due loans, 0.4%

Unlikely to pay loans, 7.2%

Bad loans, 7.9%

% Incidence on total loans... ...in gross terms, Sept ‘15 ...in net terms, Sept ‘15

25

Annex 4

26

Other key elements to assess the Group loan portfolio

September 2015 September 2015

Loan To Value* (Network banks + UBI):

Performing loans:

Retail: 46.2% (45.6% in Dec ’14)

Corporate: 38.6% (39.8% in Dec ‘14)

Unlikely to pay and Past due loans:

Retail: 55.7% (55.6% in Dec ’14)

Corporate: 47.4% (49.4% in Dec ‘14)

% of secured (real estate + personal guarantees) positions as at Dec ’14

(table A.3.2 of the notes to the accounts):

Total: 77.5%

Performing: 77.2% Total non performing exposure: 80.0%

(over 66% assisted by real estate**)

* Arithmetic mean, to allow comparison with Bank of Italy data

** Management data

Annex 5

* Following the merger of Banca 24/7 in UBI Banca, effective July 2012, UBI Banca is managing the remaining stock of non captive mortgages and personal

and special purpose loans. Prestitalia is managing all “salary backed loan” operations, both stocks and new lending

** Minor companies, UBI Banca financial transactions, IAS adjustments, loans not segmented to commercial portfolios and intercompany eliminations

Lending Portfolio: +0.9% vs Dec’14 in the core perimeter

Small business: turnover up to €15 mln

Core Corporate: turnover from €15 to €250 mln

Large Corporate: turnover > €250 mln

27

Dec '14 June '15

Private Customers 21.0 21.1 21.1 0.6% -0.2%

Small business 13.4 13.4 13.2 -2.0% -1.5%

UBI Banca (former Banca 24/7)* 5.4 5.0 4.9 -9.0% -3.4%

IW Bank PI 0.9 0.8 0.8 -6.5% -2.7%

Prestitalia 1.9 1.7 1.5 -20.2% -7.7%

Total Retail 42.5 42.0 41.4 -2.5% -1.4%

Core corporate 14.2 14.5 14.3 0.9% -1.1%

Large corporate 8.1 8.5 8.6 5.9% 0.7%

UBI Banca (former Centrobanca) 4.9 4.7 4.7 -3.2% 1.2%

Total Corporate 27.2 27.6 27.6 1.6% -0.2%

0.8 0.8 0.8 7.3% 4.4%

15.2 14.9 14.0 -8.1% -6.2%

of which: UBI Leasing 6.9 6.8 6.7 -3.5% -1.2%

UBI Factor 2.0 2.1 1.9 -7.9% -10.0%

UBI Banca including CCG 1.6 1.7 1.2 -24.6% -28.7%

85.6 85.3 83.8 -2.1% -1.8%

% change vsDec '14 June '15 Sept '15€ b ln, end date

TOTAL NET LENDING BOOK

PRIVATE

OTHER**

RETAIL

CORPORATE

Annex 6

Stable “core” lending in Network

banks at 58 bln/€

(+0.9% vs Dec ’14)

28

Net Interest Income – Consolidated Customer Spread Details

* Average period data referred to the whole consolidated Group (Network banks+ Product companies + UBI)

Annex 7

CUSTOMER SPREADS

in bps on avg. STOCK* 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15

1M Euribor 23 23 7 1 0 -5 -9

Mark up vs 1M Euribor 278 278 286 281 275 268 259

Short term 361 348 347 335 323 308 293

Medium-long term 253 257 268 266 261 258 251

Mark down vs 1M Euribor -98 -95 -99 -96 -89 -86 -85

Sight deposits -8 -7 -19 -20 -16 -18 -19

Term deposits -191 -163 -130 -125 -112 -89 -94

Retail bonds -146 -146 -148 -142 -136 -129 -124

Institutional bonds -186 -183 -191 -189 -186 -187 -187

UBI Group - Customer spread 180 183 187 185 186 182 174

of which

UBI Network Banks cust. spread 196 198 204 203 201 196 190

29 * Includes FX negotiations

Net Commission Income details

Annex 8

Net Commission Income (€ mln) 9M14 9M159M15 / 9M14

(%)3Q14 2Q15 3Q15

3Q15 / 3Q14

(%)

3Q15 / 2Q15

(%)

MANAGEMENT, TRADING & ADVISORY

SERVICES*473 523 10.6% 151 179 151 0.3% -15.6%

of which:

Portfolio management 191 232 21.5% 67 80 75 11.2% -6.1%

Placement of securities 134 156 16.0% 41 53 35 -14.2% -34.7%

Third party services distribution 127 130 2.8% 40 45 39 -2.2% -14.4%

BANKING RELATED COMMISSIONS 435 446 2.5% 148 149 149 1.0% 0.4%

of which:

Guarantees (banking activity) 19 35 81.2% 8 11 10 21.3% -7.4%

of which for State guaranteed bonds (18) - n.s. (3) - - n.s. n.s.

Collection and payment services 87 82 -5.6% 28 29 27 -3.5% -7.0%

Services for factoring transactions 14 12 -16.6% 4 4 4 -15.1% -7.9%

Current accounts management 150 143 -4.1% 52 48 49 -4.2% 2.9%

Other services 164 173 5.2% 56 57 59 6.2% 4.0%

TOTAL 908 970 6.8% 299 328 300 0.7% -8.4%

Shareholders’

Meeting

approves

transformation

of UBI Banca

into Joint Stock

Company

Filing of the

transformation

resolution with the

Company Registrar

10 Oct

2015

Within 27

October

2015

Deadline for withdrawal

Shares are unavailable to the

shareholder once the withdrawal

right is exercised

Offer in option of the

shares subject to

withdrawal to the other

shareholders

Deadline for exercising

the option right

If the shares of the withdrawing

shareholders are not purchased, either in

whole or in part, by the other

shareholders, the shares will be offered

on regulated markets

Redemption of the shares subject

to withdrawal within limits defined

and removal of the constraint of

unavailability on the shares subject

to withdrawal which have not been

reimbursed

Authorisation from the

Bank of Italy to reduce the

own funds of the bank

Transformation into Joint Stock Company. Right of withdrawal procedure

Completion of the procedure for the

relative shares for the entire period.

Completion of the procedure for the

payment of the shares subject to

withdrawal may last a maximum period of

six months from the date of

communication of the withdrawal, with the

consequent unavailability of the

relative shares for the entire period.

Supervisory Board resolution also setting

limit to redemption of the shares

subject to withdrawal according the

formula defined in due time.

Authorisation request to Bank of Italy to

consequently reduce the own funds of the

bank

From 12

November

2015

Within 90

days

1 1

2 2

3 3

4 4

5 5

6 6

8 8

7 7 9 9

12 Oct

2015

Annex 9

To 12

January

2016

30