unicredit local roots. european leadership....achievements in 2016. after the successful completion...

UniCredit Local Roots. European Leadership.

Best of 2016

Full Year

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All EMEA Syndicated Loans den. in EUR (EUR 20,552mn) vs FY 2015 (#2)

Sponsor-driven Acquisition Finance in EMEA vs FY 2015 (#3)

All Syndicated Loans (all currencies) in Italy (EUR 3,668 mn)* Germany (EUR 15,391 mn)* Austria (EUR 855 mn)*

* FY 2015 achievement confirmed

CEE (EUR 2,544 mn) vs FY 2015 (#3)

Corporate Bonds in EUR in Italy (EUR 2,456 mn)* Germany (EUR 5,009 mn)* * FY 2015 achievement confirmed

EMEA Bonds in EUR (non-self led) by no. of transactions (306)

Loans Agent in EMEA by no. of transactions (122) FY 2015 achievement confirmed

Dear All, As a simple, successful Pan-European Commercial Bank, UniCredit is the second largest corporate lender and underwriter in Europe with over EUR 300 bn outstanding. Our leading role as a European debt finance house is rooted in dominant positions in our core countries – Italy, Germany, Austria and Central and Eastern Europe. We rank #1 in Syndicated Loans denominated in EUR in EMEA, Italy, Germany, Austria and CEE for 2016. Global Capital granted us the greatest number of loan awards of any bank this year including “Most Impressive Growing Force in the Loan Market” for our achievements in 2016. In Debt Capital Markets we are the most active player across Europe, supporting corporate issuers, financial and public sector institutions. With more than 300 offerings, we have ranked #1 by number of transactions in EMEA Bonds in EUR for three consecutive years. We are also proud to be the #1 partner for leveraged loans and sponsor-driven acquisition finance in EMEA by volume, supporting big deals as well as local transactions. This success is only possible thanks to the trust our clients continue to place in us and to the new clients who have recently started to work with us and who we warmly welcome.

And 2017, although still young, has already shown further progress – not only on the financing side, but also beyond: Euromoney recently awarded us the accolades of Best Trade Finance Provider and Five-Star Cash Manager in Western Europe as well as Central and Eastern Europe, which makes UniCredit the best European Global Transaction Bank. Furthermore, as an innovative provider of investment products and as a top-ranked liquidity and solutions provider across all asset classes, we have shown and confirmed our excellence in Global Markets, supporting both private and institutional clients. After the successful completion of our Group rights issue in March 2017, we are fully focused on further supporting the growth of our clients in Europe – thanks to our strategic presence and local roots in 14 European core markets – and beyond. Yours sincerely, Gianfranco Bisagni Olivier Khayat Milan, March 2017

Welcome to UniCredit Corporate & Investment Banking

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Agenda

• Loans

• Debt Capital Markets

• Financial Sponsor Solutions

• Corporate Finance Advisory

• Equity Capital Markets

• Project Finance

• Commodity Finance

• Structured Trade & Export Finance

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An Established Leading Arranger and Bookrunner in Syndicated Loans

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Loans

• In 2016, UniCredit was involved in 218 syndicated loans in EMEA as Bookrunner with a total deal volume of USD 41.6 bn (all currencies, all asset classes), thereof in 148 transactions in euros and in a League Table relevant bookrunner role (19% of all transactions in EMEA) with a total deal volume of EUR 21 bn. We were able to maintain our top position in EMEA, ranking #1 for deals denominated in EUR

• Also country-wise we have constantly improved our positions in EUR-denominated loans and established ourselves at the top of Europe’s leading banks with increasing market shares: Italy (#1; 20.6%), Germany (#1; 20.5%), Austria (#1; 12.2%) and CEE (#1; 12.1%)

• Global Capital awarded us Best Arranger of Loans in Germany, Italy and CEE and as the “Most Impressive Growing Force in the Loan Market”

• As regards Corporate Loans denominated in EUR, we rank #1 in EMEA with a total of 102 transactions

• We are the leading European Facility Agent by Activity. In addition, we rank #1 in Italy and #2 in Germany

EMEA Corporate Loans EUR-Denominated Pos Bookrunner Deal Value (EUR mn) No. Share %

1 UniCredit 16,127 102 8.1 2 JPMorgan 15,669 38 7.9 3 BNP Paribas 12,977 97 6.5 4 Crédit Agricole CIB 10,577 79 5.3 5 HSBC 10,234 56 5.1 6 Commerzbank Group 9,554 90 4.8 7 Société Générale CIB 8,313 50 4.2 8 Deutsche Bank 7,808 53 3.9 9 Natixis 7,463 57 3.8

10 ING 7,214 53 3.6 Total 199,156 512 100.0

Period: 1 Jan – 31 Dec 2016; Source: Dealogic Loanware, per 3 Jan 2017

EMEA Syndicated Loans EUR-Denominated (All Asset Classes)

Pos Bookrunner Deal Value (EUR mn) No. Share % 1 UniCredit 20,552 148 7.2 2 JPMorgan 20,440 61 7.1 3 BNP Paribas 20,416 161 7.1 4 Crédit Agricole CIB 16,308 124 5.7 5 Société Générale CIB 13,831 89 4.8 6 HSBC 13,483 90 4.7 7 ING 12,656 99 4.4 8 Deutsche Bank 12,330 82 4.3 9 Commerzbank Group 11,139 116 3.9

10 Natixis 11,000 88 3.8 Total 287,029 768 100.0

Period: 1 Jan – 31 Dec 2016; Source: Dealogic Loanware, per 24 Mar 2017

Selected Corporate Loans

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Loans

• Stand-alone financing for Uniper in connection with the spin-off from E.ON, the second largest transaction in Germany in 2016

• Tenor: 3 years • UniCredit underwrote the deal alongside two

other banks and also acted as Bookrunner, MLA and Facility Agent

Uniper

EUR 5,000,000,000 Revolving Credit Facility,

Term Loan Facility Underwriter, Bookrunner,

MLA, Facility Agent Germany, June 2016

• Refinancing of the EUR 6.8 bn bridge facility originally put in place 2015 for the EUR 7.4 bn takeover of Pirelli S.p.A. by China National Chemical Corporation (“ChemChina”)

• By far the largest transaction in Italy 2016 • Tenor: Short to mid-term facilities • UniCredit acted as Bookrunner and MLA

Pirelli

EUR 6,400,000,000 Term Loan,

Revolving Credit Facilities

Bookrunner, MLA Italy, July 2016

• UniCredit acted as one of four Facilitators (Coordinators) and as Bookrunner and Mandated Lead Arranger in the USD 6 bn refinancing

• 30 banks joined the syndication which was well oversubscribed

• Tenor: 3 and 5 years

ArcelorMittal

USD 5,500,000,000 Revolving Credit

Facilities Facilitator, Bookrunner,

MLA France, Dec 2016

• The facilities support the acquisitions of shares in Media Broadcast GmbH and Sunrise Communications Group AG by Freenet AG, Germany’s #4 mobile communication service provider

• Tenor: Multi-tenor • UniCredit acted as one of three Underwriters, as

well as Bookrunner, MLA and Facility Agent

freenet

EUR 1,140,000,000 Revolving Credit and Term Loan Facilities

Underwriter, Bookrunner, MLA, Facility Agent

Germany, May 2016

• The largest event-driven transaction in the EMEA-market in 2016 supported the USD 66 bn acquisition of US agrochemical group Monsanto

• Tenor: Short term facility • UniCredit joined at the top tier as Bookrunner

and Mandated Lead Arranger

Bayer AG

USD 56,900,000,000 Term Loan Facility

Bookrunner, MLA

Germany, Sep 2016

• The facilities back the acquisition of Syngenta AG by China National Chemical Corporation – ChemChina which was the second largest transaction in the EMEA market in 2016

• Tenor: Multi-tenor • UniCredit acting as one of four Underwriters as

well as Bookrunner and MLA

Syngenta

USD 20,000,000,000 Acquisition Facilities,

Revolving Credit Facility Underwriter,

Bookrunner, MLA Switzerland, Mar 2016

Selected Corporate Loans

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Loans

Orange

EUR 6,000,000,000 Revolving Credit Facility

Bookrunner, MLA France, Dec 2016

Herrenknecht

EUR 775,000,000 Revolving Credit Facility,

Guarantee Facility Coordinator,

Bookrunner, MLA Germany, Dec 2016

ACS Group

EUR 2,350,000,000 Term Loan Facility,

Revolving Credit Facility Bookrunner,

Mandated Lead Arranger Spain, Dec 2016

Scout24

EUR 800,000,000 Term and Revolving

Credit Facilities Sole Bookrunner, MLA,

Facility Agent Germany, Dec 2016

Sunrise

CHF 1,560,000,000 Term Loan Facility,

Revolving Credit Facility

Bookrunner, MLA Switzerland, Dec 2016

Société C25 / RTE

EUR 2,820,000,000 Bridge Facilities

Bookrunner, MLA,

Documentation Agent France, Dec 2016

KION

EUR 3,000,000,000 Acquisition Facilities

Underwriter, BMLA,

Facility Agent Germany, Aug 2016

MAHLE


Coordinator,

Bookrunner, MLA Germany, July 2016

OC Oerlikon

CHF 600,000,000 Revolving Credit Facility

Joint Coordinator, Bookrunner, MLA

Switzerland, Dec 2016

Stabilus

EUR 640,000,000 Acquisition Facilities Equity Bridge Facility Underwriter, BMLA, Facility & Sec. Agent Germany, June 2016

Coca-Cola European Partners

EUR 4,800,000,000 Revolving Credit Facility,

Term Loan Facilities Bookrunner, MLA

UK, May 2016

Werhahn Industrieholding

EUR 500,000,000 Revolving Credit Facility

Coordinator, BMLA,

Documentation Agent Germany, July 2016

thyssenkrupp


Bookrunner & MLA Germany, Mar 2016

Glencore

USD 7,700,000,000 Revolving Credit Facility

Bookrunner, MLA Switzerland, Feb 2016

EPIF

EUR 1,600,000,000 Term Facilities Underwriter,

Bookrunner, MLA, Facility Agent

Czech Rep., Feb 2016

KraussMaffei

EUR 625,000,000 Term Loan, L/G Facility, Revolving Credit Facility

Underwriter, Global Coordinator, BMLA,

Doc./Facility/Sec. Agent Germany, Feb 2016

FUNKE MEDIENGRUPPE

EUR 830,000,000 Term and Revolving

Facilities Coordinator, Bookrunner, MLA, Agent & Sec. Agent

Germany, Apr 2016

Intersnack

EUR 375,000,000 GBP 202,500,000

Revolving Credit Facility, Term Loan Facility

Coordinator, Bookrunner, MLA

Germany, May 2016

Agenda

• Loans





• Project Finance



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All EMEA Bonds in EUR (excl. Self-mandated) – FY 2016

Pos Bookrunner Deal Value (EUR mn) No. Share % 1 BNP Paribas 58,974 300 6.4 2 Barclays 56,370 233 6.1 3 HSBC 55,383 297 6.0 4 UniCredit 54,638 306 5.9 5 Société Générale CIB 48,330 258 5.3 6 Crédit Agricole CIB 48,087 232 5.2 7 JPMorgan 44,083 221 4.8 8 Deutsche Bank 43,612 219 4.7 9 Citi 42,267 207 4.6

10 Goldman Sachs 41,067 179 4.5 Total 920,371 2,022 100.0

Period: 1 Jan – 31 Dec 2016; Source: Dealogic Analytics, per 18 Jan 2017

The most active player in EUR Bonds

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Debt Capital Markets

• UniCredit ranks among the Top 5 in All EMEA Bonds in EUR (#4 excluding self-led transactions)

• We are the most active player in Debt Capital Markets in Europe, evidenced in a #1 ranking by number of transactions (2016: 306 deals, excluding self-mandated) in EMEA Bonds in EUR for three consecutive years

• We rank #1 for All Bonds in EUR in Italy (14.9% market share, 56 transactions) and Germany (11.1% market share, 150 transactions)

All Italian Bonds in EUR – FY 2016

Pos Bookrunner Deal Value (EUR mn) No. Share % 1 UniCredit 13,395 56 14.9 2 Intesa Sanpaolo SpA 11,821 42 13.2 3 Goldman Sachs 5,394 19 6.0 4 JPMorgan 4,650 16 5.2 5 BNP Paribas 4,266 29 4.8 6 Crédit Agricole CIB 4,243 19 4.7 7 Citi 4,104 16 4.6 8 Deutsche Bank 3,876 17 4.3 9 HSBC 3,549 9 4.0

10 Barclays 3,482 14 3.9 Total 89,875 114 100.0


Selected Corporate Transactions

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• Gazprom successfully returned to the international capital markets and set the record for the lowest coupon for a Russian EUR- or USD-denominated capital markets 7-year bond at the date of issuance

Gazprom

EUR 1,000,000,000 Senior Notes

3.125% due 2023 Joint Lead Manager Russia, Nov 2016

• The largest corporate liability management transaction ever seen in the EUR market at the date of issuance

• 10 bonds involved – all outstanding EUR-denominated notes with a total notional outstanding of EUR 8.4 bn and maturities up to 2024

Snam

EUR 8,400,000,000 Intermediated Offer

10X Senior Bond Joint Dealer Manager

Italy, Oct 2016

• Transaction well oversubscribed at about 7x the issue size, with an order book in excess of EUR 3 bn from over 200 accounts

• Perfectly timed transaction exploiting strong market momentum

• UniCredit acted as Global Coordinator and Physical Bookrunner

Braas Monier

EUR 435,000,000 Senior Secured

3.000% due 2021 BB-/Ba3

Joint Bookrunner Germany, June 2016

• Telefónica is one of the most frequent issuers in the hybrid market segment with nine hybrid bonds outstanding (6 EUR hybrids, 2 USD hybrids and 1 GBP hybrids) at the date of issuance

• UniCredit acted as active bookrunner on this hybrid offering

Telefónica

EUR 1,000,000,000 Hybrid Bond

PerpNC5.5 3.750% Ba1/BB+/BB+

Joint Bookrunner Spain, Sep 2016

• Tremendous demand: Literally all important top European institutional investors participated – providing broad diversification

• Strong demand enabled aggressive pricing approach and low single digit new issue concessions

McDonald’s

EUR 2,500,000,000 3-Tranche Senior Bond

due 2021, 2023 & 2028 Issue Rating Baa1/BBB+

Joint Bookrunner USA, Apr 2016

• The largest German corporate bond since 2002 at the date of issuance

• Despite its overall size the transaction could be priced very close or even through the curve

• Orderbook was substantially oversubscribed, especially for the 12-year tranche

Deutsche Telekom


due 2021, 2023 & 2028 Issue Rating Baa1/BBB+

Joint Bookrunner Germany, Mar 2016

Selected Corporate Transactions

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SNAI


E+6.000% due 2021 6.375% due 2021

B2/B Joint Bookrunner Italy, Oct 2016

Vonovia

EUR 1,000,000,000 Senior Bond

1.250% due 2024 BBB+

Joint Bookrunner Germany, Nov 2016

Telekom Austria

EUR 500,000,000 Senior Bond

1.500% due 2026 Joint Bookrunner Austria, Dec 2016

Schustermann & Borenstein


6.250% due 2023 B2/B

Joint Bookrunner Germany, Dec 2016

PKN Orlen

EUR 750,000,000 2.500% Senior Bond

due 2023 Baa3/BBB-

Joint Bookrunner Poland, June 2016

Adient Global Holdings Ltd.


3.500% due 2024 Ba3/BB

Joint Bookrunner USA, Aug 2016

Saipem


due 2021 & 2023 Joint Bookrunner Italy, Sep 2016

Salini Impregilo SpA

EUR 600,000,000 o/w EUR 300 mn New Bond,

EUR 172 mn Tap Exc Off & New Bond & Tap

3.750% due 2021 Joint Bookrunner Italy, June 2016

Global Ports

USD 350,000,000 6.872% Senior Notes

due 2022

Joint Bookrunner Russia, Apr 2016

Daimler


due 2020 – 2028 A3/A-/A-

Joint Lead Manager Germany, May 2016

Total

EUR 1,750,000,000 Hybrid Bond

3.875% PerpNC6 A2/A-

Joint Bookrunner France, May 2016

MOL Hungarian Oil and Gas PLC


2.625% due 2023 Issue Rating BBB-/BB

Joint Bookrunner Hungary, Apr 2016

Eni


due 2022 & 2028 Joint Bookrunner Italy, May 2016

Enel

EUR 6,532,026,000 Exchange offer 7x Senior Bonds

Jt. Dealer Manager

Italy, May 2016

AB InBev


due 2020 – 2036 Issue Rating A2/A- Joint Bookrunner

Belgium, Mar 2016

Sappi

EUR 350,000,000 4.000%

Senior Secured

Joint Bookrunner South Africa, Mar 2016

Alstom

EUR 2,850,000,000 Tender

5x Senior Bond

Joint Dealer Manager France, Feb 2016

Nordex SE

EUR 500,000,000 Green Schuldschein

MLA, Bookrunner

Germany, Mar 2016

Selected Public Sector Bonds

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• Inaugural 50-year BTP benchmark line • Longest maturity in the Italian nominal

benchmark curve and represents the longest nominal bond issued by a EU Member State in 2016

• Third consecutive mandate awarded to UniCredit by MEF for a new format BTP

Republic of Italy

EUR 5,000,000,000 BTP

2.800% due 2067 Joint Bookrunner Italy, Oct 2016

• NRW issued its 2nd sustainability bond; the proceeds will be used for social and environmental purposes

• Books were in excess of EUR 3.3 bn backed by 102 single orders; final volume equals the overall eligible project volume

• 39% of the bond was placed with SRI1 and ESG2 accounts

North Rhine-Westphalia

EUR 1,585,000,000 Landesschatz-

anweisung 0.125% due 2023 Joint Bookrunner

Germany, Mar 2016

• This dual tranche was the successful starting point for ESM in Q4, concluding already two-thirds of its funding target

• The combined order book was in excess of EUR 7.2 bn, skewed towards the 6-year

• UniCredit acted as documentation agent

ESM

EUR 3,000,000,000 EUR 1,000,000,000

Senior Bond 0.000% /1.125% due 2022/2032 Joint Bookrunner

Luxembourg, Oct 2016

• EIB’s first benchmark appearance in 2016 • The final order book closed in excess of

EUR 6 bn • UniCredit acted as duration manager and as

billing and delivery agent

European Investment Bank

EUR 5,000,000,000 EARN

0.000% due 2019 Joint Bookrunner

Luxembourg, Jan 2016

• The second multi-tranche transaction in a row after a successful triple-tranche transaction in March 2015

• The deal represented the largest transaction out of CEEMEA at the date of issuance

• On aggregate basis, 350 investors participated across the two tranches, for combined orderbooks of EUR 3.6 bn

Republic of Bulgaria

EUR 1,144,000,000 EUR 850,000,000 Government Bond 1.875%/3.000% due 2023/2028 Joint Bookrunner

Bulgaria, Mar 2016

• KfW confirmed its strong commitment to the green bond market by launching its first EUR green bond in 2016

• UniCredit has been awarded as Joint Lead Manager due to its pronounced set up in the green bond universe and its distinguished footprint as a sustainable bank

KFW

EUR 1,000,000,000 Green Bond


Germany, May 2016

1SRI = socially responsible investment 2ESG = environmental, social and governance

Selected Public Sector Bonds

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Republic of Poland

EUR 1,000,000,000 EUR 750,000,000 Government Bond 1.500%/2.375% due 2026/2036 Joint Bookrunner Poland, Jan 2016

EFSF


0.100% due 2021

Joint Bookrunner Luxembourg, Jan 2016

NRW.BANK


0.125% due 2021

Joint Bookrunner Germany, Jan 2016

European Investment Bank

EUR 500,000,000 Climate Awareness

Bond 0.500% due 2023 Joint Bookrunner

Luxembourg, Jan 2016

Baden-Württemberg

EUR 600,000,000 Landesschatz-

anweisung 0.625% due 2026 Joint Bookrunner

Germany, Jan 2016

Republic of Italy

EUR 6,500,000,000 BTP

2.250% due 2036 Joint Bookrunner Italy, Apr 2016

Republic of Poland

EUR 750,000,000 Government Bond

2.375% TAP due 2036

Joint Bookrunner Poland, Apr 2016

Rentenbank


0.375% due 2026


Romania

EUR 750,000,000 EUR 500,000,000 Government Bond 2.750%/3.875%

TAP due 2025/ 2035 Joint Bookrunner

Romania, Feb 2016

L-Bank


0.375% due 2026

Joint Bookrunner Germany, Apr 2016

Rhineland-Palatinate

EUR 750,000,000 Landesschatz-

anweisung 0.000% due 2019 Sole Bookrunner

Germany, Mar 2016


FMS


0.000% due 2020

Joint Bookrunner Germany, Oct 2016

Deutsche Bahn


0.625%

Joint Bookrunner Germany, Sep 2016

BNG Bank


0.250% due 2024

Joint Bookrunner Netherlands, May 2016

Hessen

EUR 1,125,000,000 Landesschatzanweisung 0.375% Tap due 2026

Joint Bookrunner

Germany, June 2016

Hessen

EUR 875,000,000 Landesschatzanweisung 0.375% Tap due 2026

Joint Bookrunner

Germany, June 2016

European Union


0.625% TAP due 2023

Joint Bookrunner Luxembourg, Apr 2016

Republic of Italy

EUR 8,014,370,000 Government Bond 0.400% due 2024

Joint Bookrunner Italy, Apr 2016

Selected Financial Institution Bonds

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• First Italian public SME placement in the primary market since 2013

• Remarkable bookbuilding with double digit and triple digit anchor orders

• UniCredit acted as Sole Arranger and Joint Bookrunner proving the solid support to the regional Italian banks

Voba 6

EUR 541,500,000 SME ABS

Sole Arranger, Sole Bookrunner Italy, Oct 2016

• Longest outstanding Covered Bond benchmark for the issuer

• More than one-third of the allocated amount was placed within UniCredit’s Home Markets in Germany/Austria (21%) and Italy (13%)

BBVA

EUR 1,000,000,000 Cedulas Hipotecarias

0.875% due 2026 Joint Bookrunner Spain, Nov 2016

• Inaugural EUR Covered Bond transaction after a well-timed deal preparation via a 4-day European roadshow

• Sensible issuer approach regarding investors’ maturity preferences ahead of the UK-referendum

Leeds Building Society

EUR 500,000,000 UK Covered Bond 0.125% due 2020

Joint Bookrunner

UK, Apr 2016

• Inaugural 5Y Benchmark Covered Bond –the first ever publically syndicated international mortgage backed covered bond from Turkey

• Orderbook 5.4x oversubscribed and final set close to a theoretical sovereign benchmark

• Multiple times awarded, e.g. with the Covered Bond Report Award for Excellence and the emeafinance Achievement Award

VakifBank

EUR 500,000,000 Turkish Covered Bond

2.375% due 2021

Joint Bookrunner Turkey, Apr 2016

• The Subordinated Issue, eligible as Tier 2 capital under Solvency II, is the only EUR insurance hybrid in 2016 so far

• The transaction represented the largest deal in the insurance space since March 2015 at the date of issuance

• Proceeds used by the Issuer to refinance part of its outstanding debt

AXA SA

EUR 1,500,000,000 31.25NC11.25 Tier 2 Notes

3.375% due 2047 Joint Bookrunner France, Mar 2016

• Berlin Hyp AG very successfully printed the first-ever negative yielding Covered Bond

• At the end, the spread of the almost three times oversubscribed deal was fixed at MS+1 bps, the tight end of the spread guidance

Berlin Hyp

EUR 500,000,000 Hypothekenpfandbrief

0.000% due 2019


Selected Financial Institution Bonds

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Helaba

EUR 1,250,000,000 Hypothekenpfandbrief

0.000% due 2020

Joint Bookrunner Germany, Feb 2016

CAFFIL

EUR 1,000,000,000 0.500% due 2022 EUR 500,000,000 1.500% due 2031

Obligation Foncière Joint Bookrunner France, Jan 2016

Mediobanca

EUR 600,000,000 Senior Unsecured 1.625% due 2021

Joint Bookrunner Italy, Jan 2016

Banca MPS

EUR 1,620,000,000 Siena Lease 16-2 Srl

Lease ABS Joint Lead Manager,

Joint Bookrunner Italy, Jan 2016

Allied Irish Bank

EUR 1,000,000,000 Irish Covered Bond 0.875% due 2023 Joint Bookrunner Ireland, Jan 2016

Yapı Kredi

USD 500,000,000 Basel 3 compliant

Tier 2 Notes 8.500% due 2026 Joint Bookrunner Turkey, Mar 2016

BRFkredit

EUR 500,000,000 Danish Covered Bond

0.250% due 2021

Joint Bookrunner Denmark, Mar 2016

Banca Popolare di Sondrio SCpA

EUR 500,000,000 Italian Covered Bond

0.750% due 2023 Joint Bookrunner Italy, Mar 2016

Sparebanken Sør Boligkreditt

EUR 500,000,000 Norwegian Covered Bond


Norway, Mar 2016

CFF

EUR 1.000,000,000 Obligation Foncières 0.500% due 2024

Joint Bookrunner France, Apr 2016

UniCredit SpA

EUR 750,000,000 Tier 2 Notes

4.375% due 2027

Joint Bookrunner Italy, May 2016

Assicurazioni Generali

EUR 850,000,000 5.000%

32-NC-12 Senior Dated Subordinated

Joint Bookrunner Italy, June 2016

Deutsche Hypo

EUR 750,000,000 Hypothekenpfandbrief

0.250% due 2024

Joint Bookrunner Germany, May 2016

Agos Ducato

EUR 1,242,000,000 Sunrise Srl Series 2016-1

Consumer ABS Joint Lead Manager

Italy, June 2016

DNB Boligkreditt AS

EUR 1,500,000,000 Norwegian Covered Bond


Norway, Aug 2016

Santander Consumer Bank AS

EUR 500,000,000 Senior Unsecured 0.250% due 2019 Joint Bookrunner

Norway, Sep 2016

Cariparma

EUR 1,500,000,000 OBG Dual-Tranche due 2024 & 2031 Joint Bookrunner Italy, Oct 2016

UniCredit SpA

EUR 500,000,000 Additional T1 Notes 9.250% Perp NC5.5

Joint Bookrunner Italy, Dec 2016

Agenda

• Loans





• Project Finance



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Sponsor-driven Acquisition Finance in EMEA – FY 2016

Pos Bookrunner Deal Value (EUR mn) No. Share % 1 UniCredit 6,429 52 7.4 2 JPMorgan 6,364 26 7.4 3 BNP Paribas 6,309 62 7.3 4 HSBC 5,915 36 6.8 5 Credit Suisse 5,730 29 6.6 6 Deutsche Bank 4,879 35 5.6 7 Bank of America Merrill Lynch 4,594 20 5.3 8 Goldman Sachs 4,145 29 4.8 9 ING 3,908 34 4.5

10 Société Générale CIB 3,482 32 4.0 Total 86,563 223 100.0


#1 Partner of Choice for private equity sponsors in Europe

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Financial Sponsor Solutions

• UniCredit delivers 360° corporate and investment banking to private equity funds and their portfolio companies via our Financial Sponsor Solutions Group (“FSS”)

• FSS provides lending (incl. LBO financings) and lending-related business, and coordinates the delivery of other products and services such as capital markets, loan agency, M&A advisory, hedging and corporate banking

• FSS covers 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 financing transactions for private equity clients in Europe for many years

• In 2016, we ranked #1 by volume in EMEA – climbing up 2 places to the very top within 12 months – and #2 by number of transactions. In 2016, our deal activity in EMEA increased by 18% compared to 2015

• With a market share of 35%, 24% and 34%, respectively, we are the undisputed leader in our core regions Italy, Germany and CEE

Selected Financial Sponsor Solutions Transactions

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• Secondary buyout of the largest independent generic pharma company in Italy

• UniCredit helped CVC to secure the deal providing a one-stop-shop solution (as Global Coordinator, Physical Bookrunner, Agent and M&A Advisor)

Doc Generici

EUR 375,000,000 Senior Loan Facilities CVC Capital Partners

GloCo, Bookrunner, MLA, Agent

Italy, May 2016

• One of the largest LBOs underwritten in the European market in 2016

• Sponsor: EQT • UniCredit acted as Global Coordinator and

Bookrunner • Syndication was highly successful with the

deal being reverse-flexed on the term loan B

Apleona

EUR 1,250,000,000 Senior Loan Facilities

EQT

GloCo, Bookrunner, MLA Germany, June 2016

• Prominent role as one of only two non-French bookrunners and the only non-incumbent lender

• Sponsor: Partners Group • First sponsor backed LBO in the market

following Brexit vote • A highly successful syndication and

significant oversubscription

Foncia


Partners Group

Bookrunner, MLA France, July 2016

• Largest LBO loan deal seen in the Italian LBO market post credit crunch

• Sponsor: Investindustrial • UniCredit true deal-enabler acting as Sole

Global Coordinator, Bookrunner, Agent and M&A Advisor

Artsana

EUR 550,000,000 Senior Loan Facilities

Investindustrial GloCo, Bookrunner,

MLA, Agent Italy, June 2016

• The LBO financing backed Apax Partners’ buyout and merger of two European generic pharma companies – Spanish Invent Farma and German Neuraxpharm

• UniCredit originated, structured, underwrote and successfully syndicated the combined financing package in this proprietary pan- European transaction

Invent Farma/ neuraxpharm


Apax Partners Bookrunner

Spain/Germany, Aug 2016

• Largest private equity-backed LBO in Poland • Sponsors: Cinven/Permira/MEP • The deal set a new benchmark in the CEE

market combining bank and institutional liquidity to achieve very attractive terms

• Transaction oversubscribed with substantial contribution of UniCredit with the highest number of investors brought in

Allegro

PLN 3,840,000,000 Senior Loan Facilities

Cinven/Permira/MEP

Bookrunner, MLA Poland, Dec 2016

Selected Financial Sponsor Solutions Transactions


19

Sport Group

USD 38,815,000 EUR 35,000,000

Senior Add-on Facilities Equistone


Germany, Aug 2016

Personal & Informatik


Permira

MLA, Bookrunner Germany, Nov 2016

DencoHappel/Fläkt Woods


Triton Bookrunner, MLA, Agent

Germany, Oct 2016

Constantia Flexibles


Repricing Wendel


Austria, Sep 2016

Philippe Model


21 Investimenti Sole Bookrunner,

MLA, Agent Italy, July 2016

Hotelbeds


Cinven Bookrunner, MLA, Agent

Spain, June 2016

Calypso Technology

USD 425,000,000 Senior Loan Facilities Bridgepoint/Summit

Bookrunner, MLA, Agent

US, June 2016

Smyk

PLN 790,000,000 Senior Loan Facilities

Bridgepoint/Cornerstone Sole Bookrunner,

MLA, Agent Poland, June 2016

Tipico

EUR 645,000,000 Senior Loan Facilities CVC Capital Partners


Malta, May 2016

Schenck Process


IK Investment Partners

Bookrunner, MLA Germany, May 2016

Comdata


Carlyle

Bookrunner, Agent Italy, Mar 2016

Bite


Providence Bookrunner & MLA Lithuania, Jan 2016

d&b audiotechnik

Undisclosed Sen. & Sec. Lien Fac.

Ardian

Bookrunner, MLA, Agent Germany, Feb 2016

Żabka Polska

PLN 1,260,000,000 Senior Loan Facilities Mid Europa Partners

Bookrunner, Sole MLA, Agent

Poland, Apr 2016

Engineering Ingegneria Informatica


Apax Parters/ NB Renaissance Bookrunner, MLA Italy, Apr 2016

Limacorporate


EQT Partners Left Lead Bookrunner,

MLA, Agent Italy, Apr 2016

Agrifarma


Permira

Bookrunner, MLA, Agent Italy, May 2016

Calucem

Undisclosed Senior Loan Facilities

Ambienta Sole Bookrunner, MLA, Agent, Buy-side M&A

Croatia, Apr 2016

Agenda

• Loans





• Project Finance



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21

Corporate Finance Advisory

A Growing Role in our key European countries

Financial Advisors to Italian M&A by No. of Deals – FY 2016

Pos Financial Advisors Deal Value (EUR mn) No. 1 KPMG 7,217 67 2 UniCredit 15,293 40 3 Mediobanca 16,357 27 4 Rothschild 8,878 24 5 EY 1,316 23 6 PwC 2,151 22 7 Banca IMI / Intesa San Paolo 7,515 19 8 Deloitte 1,027 16 9 Fineurop Soditic 880 16

10 Lazard 9,104 14 Period: 1 Jan – 31 December 2016; Source: Mergermarket, per 6 January 2017

• Despite a 5% decrease in total announced M&A deal value in 2016 for EMEA (decrease was even sharper at European level with -10%), UniCredit consistently increased its visibility as M&A advisor across core geographies

• Our deal activity was especially high in Italy, while CEE saw solid activity across countries and segments. In Germany the mid-market remained key focus area

• Overall, UniCredit advised on 76 M&A transactions in EMEA in 2016, some of them not disclosable, with the following distribution per geography • Italy: 40 • CEE1: 22 • Germany: 11 • Austria: 3

Financial Advisors to CEE1 M&A by No. of Deals – FY 2016

Pos Financial Advisors Deal Value (EUR mn) No. 1 KPMG 1,586 26 2 EY 499 25 3 UniCredit 5,196 22 4 Deloitte 1,263 20 5 PwC 380 20 6 Rothschild 9,079 14 7 VTB Capital 21,341 13 8 JPMorgan 6,298 11 9 Morgan Stanley 8,175 8

10 Pragma Corporate Finance 241 8 Period: 1 Jan – 31 December 2016; Source: Mergermarket, per 12 January 2017

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

Selected M&A Transactions

22


• Sole financial advisor to leading global energy player Iberdrola in the disposal of 100% of Italian wind player SER to Glennmont for an equity consideration of EUR 194 mn

• The transaction represents a further step in Iberdrola’s strategy to focus on its core markets

Iberdrola

EUR 379,000,000 Advisor to Iberdrola in

the disposal of SER Group to Glennmont

Italy, June 2016

• In December 2016, Advent International announced the sale of its non-alcoholic beverage business to Spadel

• The transaction, closed in March 2017, had high visibility among reputable strategic and financial PE investors and resulted in a satisfactory return for the seller

• Advisory underlines the strength of UniCredit’s CFA franchise in CEE Consumer sell-sides

Advent International

EUR 120,000,000 Advisor to Advent on the sale of its 93.29%

interest in Devin to Spadel

Bulgaria, Mar 2017

• Advisor to UNIQA Group (listed Austrian insurance group) in the disposal of the Italian subsidiary UNIQA Assicurazioni S.p.A. to the Italian mutual insurance company Società Reale Mutua di Assicurazioni

UNIQA Assicurazioni

EUR 295,000,000 Advisor to UNIQA in the disposal of the Italian

subsidiary to Reale Mutua di Assicurazioni Austria/Italy, Dec 2016

• Exclusive M&A advisor to the owner of Polytech on the 100% sale of his company in an MBO transaction to mid-cap PE fund Deutsche Beteiligung AG (DBAG)

• DBAG is investing alongside its advised DBAG Fund VI, both acquiring a majority interest (DBAG 18%; DBAG Fund VI 76%) in the Polytech

POLYTECH

Undisclosed Advisor to POLYTECH

on the disposal to DBAG

Germany, Oct 2016

• Advisor to Snam in the acquisition of 49% of Gas Connect Austria in consortium with Allianz Capital Partners

• The transaction strengthens Snam’s positioning as a leading European gas infrastructure operator

Gas Connect Austria

EUR 601,000,000 Advisor to Snam in the acquisition of 49% of Gas Connect Austria

from OMV Italy/Austria, Sep 2016

• UniCredit successfully steered agribusiness and food group Bunge through this highly competitive process leveraging on its access to and relationship with seller and target

• The acquisition supports Bunge’s strategy of expanding its oils and fats product offering and will enable Bunge to grow and enhance its B2B business in Western Europe

Bunge

Undisclosed Advisor to Bunge

on the acquisition of Walter Rau

Germany, Apr 2016

Selected M&A Transactions

23


RHI

Undisclosed Fairness opinion to RHI on the acquisition of a

controlling stake in Brazilian listed

Magnesita Austria, Dec 2016

Ambienta

Undisclosed Exclusive financial

advisor to Ambienta on acquisition of majority

stake in Calucem Croatia, Apr 2016

Bank of Italy

EUR 338,000,000 Advisor to UniCredit, ISP and Generali in the sale of 4.5% stake of BoI to

various funds Italy, Oct 2016

Linea Group Holding

EUR 113,000,000 Advisor to LGH

shareholders in the disposal of 51% stake in

LGH to A2A Italy, Mar 2016

Edison

EUR 247,000,000 Advisor to Edison in the contribution in kind of

Fenice from Transalpina di Energia

Italy, Feb 2016

EPH

Undisclosed Advisor to EPH on the

sale of a minority stake in EPIF to global

infrastructure investors led by MIRA

Czech Rep., Oct 2016

Agrokor/Mercator

EUR 34,500,000 Advisor to Mercator/

Agrokor on the sale of Intersport ISI to

Enterprise Investors Slovenia, Sep 2016

One Equity Partners

USD 101,300,000 Advisor to One Equity

Partners on the sale of a 48% stake in Netaş to

ZTE Corporation Turkey, pending

axxess capital

Undisclosed Advisor to the

Shareholders of Noriel on the 100% sale to Enterprise Investors Romania, July 2016

DERMATOLOGIKUM

Undisclosed Advisor to

Dermatologikum on the disposal to ECM

Germany, Aug 2016

RCS MediaGroup

EUR 970,000,000 Advisor to RCS

MediaGroup S.p.A. in the PTO launched by Cairo Communications S.p.A.

Italy, Apr 2016

Società Gasdotti Italia

EUR 500,000,000 Advisor to MIRA and

Swiss Life in the acquisition of S.G.I. from

EISER Infrastructure Italy, May 2016

Uralplastic-N

Undisclosed Advisor to Uralplastic on

the sale of controlling stake in Uralplastic-N to

Mondi Russia, July 2016

ACU Group

Undisclosed Advisor to the owner on

the disposal of ACU Group and Delfino

to Brenntag Germany, Feb 2016

Bilfinger SE

Undisclosed Advisor to Bilfinger on

the disposal of Bilfinger MCE to HABAU

Germany/Austria, Mar 2016

EPH

EUR 750,000,000 Advisor to EPH in the acquisition of Enel’s

66% stake in Slovenské Elektrárne

Slovakia, Jan 2016

Bavaria Film

Undisclosed Advisor to Bavaria Film

on the disposal of Cine-Mobil

Germany, Jan 2017

Artsana

EUR 1,200,000,000 Advisor to

InvestIndustrial in the acquisition of 60% stake in Artsana S.p.A.

Italy, Apr 2016

Agenda

• Loans





• Project Finance



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25

• 2016 saw EMEA ECM volume down by ca. 38% yoy (from EUR 274 bn in 2015 to EUR 179 bn at the end of 2016) due to a series of economic and geopolitical tensions (e.g. Italian banking system; US elections; Brexit vote) which subsequently resulted in increased volatility affecting the appetite for ECM issuance

• ABBs accounted for ca. 39% of total volume, followed by IPOs (20%), Rights Issues (18%), EQL transactions (15%) and SPOs (8%)

• Among the largest IPOs priced this year the majority were sponsor-driven transactions whilst the more significant follow-ons (both Rights Issue and ABBs) mainly belonging to the FIG sector

• Top 5 countries (UK, ES, DE, FR, IT) accounted for ca. 57% of total issuances

• With 21 transactions completed in 2016, UniCredit confirmed its leadership also this year: beyond #1 position in the Italian market by volume and no. of deals, UniCredit remains a leading ECM bookrunner in Poland (#1) and returned to the top 10 in Germany (#10)

All Italian ECM Transactions – FY 2016

Pos Bookrunner Deal Value (EUR mn) No. Share % 1 UniCredit 1,447 10 17.3 2 Mediobanca 1,368 7 16.3 3 Goldman Sachs 838 4 10 4 Intesa Sanpaolo 797 7 9.5 5 JPMorgan 734 4 8.8 6 Citi 588 3 7.0 7 Deutsche Bank 545 2 6.5 8 BofaML 498 1 5.9 9 UBS 440 2 5.3

10 Morgan Stanley 279 2 3.3 Total 8,380 35 100.0

Period: 1 Jan – 31 Dec 2016; Source: Dealogic Analytics, per 31 Dec 2016

Leading position in core markets despite unfavourable market conditions

Equity Capital Markets

Selected Equity Capital Markets Transactions

26

Equity Capital Markets

ProSiebenSat.1

EUR 514,851,500 Accelerated Bookbuild

Joint Bookrunner

Germany, Nov 2016

• UniCredit acted as Process Bank and Joint Bookrunner in Germany’s second largest primary ABB in 2016

• Together with Kepler Cheuvreux, UniCredit was instrumental in building the book momentum, enabling to achieve a solid book of more than 40 lines. The book comprised a good amount of high quality “Long Only” accounts, paired with concentrated demand from the Hedge Fund players

• Air navigation service provider ENAV priced the largest Italian IPO of 2016, raising EUR 759 mn for the Italian government

• Huge investors demand with institutional offering ca. 8x and retail tranche ca. 2.4x oversubscribed

• The ENAV IPO marked the first and only sizeable IPO post Brexit and the third Italian privatisation bookrun by UniCredit since 2015

ENAV

EUR 759,000,000 Initial Public Offering

Joint Bookrunner Italy, July 2016

• First ever issuance of a mandatory instrument (i) in form of a certificate; (ii) with a Polish underlying stock and (iii) issued with zero coupon

• Tailored execution strategy given limited liquidity of the underlying shares and absence of listed options in the stock

• Pekao share price up 2.33% during the calculation period for the reference price

UniCredit / Pekao

EUR 517,883,304 Mandatory Certificates

into Bank Pekao Joint Bookrunner Italy, Dec 2016

• The deal was the only EU ABB executed that day, notwithstanding high volatility in the market triggered by US disappointing non-farm payroll data and investors’ nervousness related to BREXIT

• The stock opened and traded above the offer price in the day after launch as a confirmation of flawless execution

IMA

EUR 92,750,000 Primary Accelerated

Bookbuild Sole Bookrunner Italy, June 2016

• Transaction priced at the most aggressive end of the range, with the book multiple times covered

• Proceeds to be used for the repayment of the outstanding bonds due June 2017 and to fund the group’s investments over the next years

MTU Aero Engines

EUR 500,000,000 Convertible Bond

Joint Bookrunner

Germany, May 2016

• The largest industrial rights issue in Italy since June 2009 at the date of issuance

• Transaction successfully executed under difficult market conditions with stock down 53% since the announcement and oil prices at minimum level since 2003

• Rights issue allowed Saipem to reduce its financial debt and achieve financial independence from ENI

Saipem

EUR 3,499,947,586 Rights Issue

Joint Bookrunner Italy, Feb 2016

Agenda

• Loans





• Project Finance



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• UniCredit is one of the leading European providers of structuring and arranging services to our clients in the Power, Infrastructure and Transportation sectors

• With our dedicated teams we offer the full value chain, from origination through execution, fundraising, distribution and agency services

• UniCredit is pioneering the cooperation with Institutional and Project Bond Investors in the European Project Finance Market having successfully structured and raised this form of financing for our clients’ projects

• Global Project Finance market in 2016 down by 20% compared to 2015

• EMEA accounted for 45% of the Global Project Finance volume in 2016, up seven percentage points from 2015 and the highest share since 2008

• UniCredit ranks #1 in Italy, #4 in CEE, #10 in EMEA

A Leading Project Finance Provider for the Power, Infrastructure and Transportation sectors

Project Finance

Project Finance in Italy – FY 2016

Pos Mandated Lead Arranger Deal Value (EUR mn) No. Share % 1 UniCredit 474 12 22.4 2 BNP Paribas 216 5 10.2 3 Unione di Banche Italiane Scpa 197 5 9.3 4 NATIXIS SA 180 6 8.5 5 Intesa Sanpaolo SpA 172 4 8.2 6 ING 157 4 7.4 7 Norddeutsche Landesbank Girozentrale 102 2 4.8 8 Banca Monte dei Paschi di Siena SpA – MPS 83 4 3.9 9 Crédit Agricole Corporate & Investment Bank 83 2 3.9

10 BPER Banca SpA 60 1 2.8 Total 2,114 21 100.0

Period: 1 Jan – 31 Dec 2016; Source: Dealogic ProjectWare, per 7 Jan 2017

Project Finance in Eastern Europe – FY 2016

Pos Mandated Lead Arranger Deal Value (EUR mn) No. Share % 1 China Development Bank Corp 3,118 2 28.0 2 Sberbank CIB ZAO 1,903 2 17.1 3 Gazprombank OAO 1,800 1 16.2 4 UniCredit 360 4 3.2 5 Mitsubishi UFJ Financial Group Inc 339 1 3.0 6 HSBC 329 2 3.0 6 ING 329 2 3.0 8 Sumitomo Mitsui Financial Group Inc 314 2 2.8 9 Société Générale CIB 262 2 2.4

10 European Bank for Reconstruction & Development 243 4 2.2 Total 11,131 12 100.0

Period: 1 Jan – 31 Dec 2016; Source: Dealogic ProjectWare, per 9 Jan 2017

Selected Project Finance Transactions

29

Project Finance

• UniCredit acted as financial advisor to the ViA6 West consisting of Hochtief, Johann Bunte and Dutch infrastructure fund DIF

• 30-year public private partnership for construction and maintenance of 47 kilometers of A6 motorway in Baden Wuerttemberg, Germany

• UniCredit developed a bank/bond solution with EIB – with the first ever issuance of a senior amortising bearer bond (due 2046) under German Law for a project

A6 Wiesloch/Rauenberg –

Weinberg

EUR 525,700,000 Project Financing Financial Advisor

Bond Arranger, Hedge Coordinator, Account Bank

Germany, Dec 2016

• UniCredit acted as Mandated Lead Arranger and Hedging Coordinator in the EUR 653 mn financing to support the acquisition of the 64% of the Aéroports de la Côte d’Azur for a total consideration of EUR 1.3 bn by top infrastructure player Atlantia and long term infrastructure investor EDF Invest

• BidCo (Azzurra Aeroporti), got a Baa3 rating and ACA a Baa2 rating by Moody’s

• ACA is the France’s third largest airport after the Paris airports of Charles de Gaulle and Orly by passenger traffic, which totalled 12 mn in 2015

Aéroports de la Côte d’Azur Privatization

EUR 653,000,000 Airport Financing

MLA, Hedging Coordinator, Hedging

Bank, Agent France, Nov 2016

• UniCredit acted as MLA and Hedging Bank for EUR 180 mn PV Ptf Refinancing which will support the creation of a 90MW utility scale platform . Sponsors are ForVei and Vei Green

• The transactions represented the largest refinancing on a PF basis occurred in the Italian PV sector in 2016 YTD

FVH1 90 MW PV Ptf

EUR 180,281,000 Project Financing

MLA, Hedging Bank

Italy, Mar 2016

• Road Refinancing in favour of the sponsors Hochtief and Strabag

• UniCredit developed a unique and solid refinancing solution combining commercial banks, institutional investors and EIB (as Senior Lenders) and EIB as Senior Debt Credit Enhancement provider (SDCE – subordinated loan)

• The Project is a brownfield traffic risk infrastructure with revenues based on a shadow toll levied on trucks

A8 Augusburg-Ulm Refi

EUR 407,200,000 Project Financing Financial Advisor,

Bookrunner, Agent, Hedge Coordinator,

Germany, June 2016

• Rated (A3) and publicly listed project bond placed with institutional investors

• Anchor investors (including their sub-accounts) covered 72% of the overall book size. 57% of the bonds were allocated to non-Italian accounts

• CAV was the first to benefit from both the EIB’s PBCE instrument and the application of the Italian Project Bond Law

Passante di Mestre Italy


2.115% due 2030 Joint Bookrunner Italy, Apr 2016

Veronagest 144,6 MW Wind Ptf


MLA, Agent, Account,

Hedging Bank Italy, June 2016

• UniCredit acted as Advisor, MLA, Agent, Account and Hedging Bank for EUR 189.8 mn Wind Ptf Refinancing which will support the consolidation of the Veronagest renewable portfolio

• The transactions represented one of the largest refinancing on a PF basis occurred in Italian Wind sector in 2016 YTD

Selected Project Finance Transactions

Project Finance

San Iorio 9.5 MW PV Ptf


Sole Lender, Account, Hedging

Italy, Jan 2016

Solar Farm Soc.Agr. 34,6 MW PV Plant

EUR 79.412.388 Project Financing

MLA, Agent, Hedging

Italy, Oct 2016

Eurowind 80 MW Wind Ptf


MLA, Hedging Bank

Italy, Aug 2016

Daunia Savignano 76 MW Wind Farm


MLA, Agent, Account, Hedging Bank Italy, Oct 2016

30

9Ren Asset Italy 55,4 MW PV Ptf


MLA, Hedging Bank Italy, Dec 2016

Daunia Ascoli 53,3 MW Wind Farm


MLA, Hedging Italy, Oct 2016

B-Holding 6MW Biogas Ptf


Advisor, MLA, Agent, Account, Hedging Italy, July 2016

Fri-El Guardionara 24,65 MW Wind Farm


Sole Lender, Account, Hedging

Italy, May 2016

ERG Wind France 1 SAS


63,4 MW Wind farms Portfolio

MLA & Hedge Provider France, Aug 2016

CHEP Aerospace Solutions

USD 81,000,000 Acquisition Financing

MLA & Facility Agent

Switzerland, Nov 2016

Finpower Wind 60MW Wind Farm


MLA, Agent, Account, Hedging

Italy, July 2016

Euroports Holdings

EUR 435,000,000 Senior Facilities Amend & Extend

MLA The Netherlands,

May 2016

Kilpilahti Power Plant


MLA, Technical Bank, Insurance Bank, Modelling Bank

Finland, Mar 2016

AES Ballylumford

GBP 25,000,000 Senior Debt

Project Financing MLA, Hedge Provider

UK, Apr 2016

Alpha Trains – Red Motion

EUR 240,000,000 Acquisition Financing

MLA, Hedge Provider

Luxembourg, Mar 2016

Grandi Stazioni Retail Privatization

EUR 441,400,000 Acquisition Financing

MLA, Hedging Bank

Italy, June 2016

Andromeda Wind 26MW Wind Farm


Sole Lender, Account, Hedging Bank

Italy, May 2016

HFV Cellini 44.6 MW PV Ptf

EUR 127,500,000 Project Financing MLA, Modelling, Hedging Bank

Italy, Mar 2016

Agenda

• Loans





• Project Finance



31

32

• UniCredit is a top ten European commodity finance house offering tailor-made financial solutions for both traders and producers

• We bring with us strong structuring capabilities, ranging from short-term trade finance to producer finance – alongside most of the asset conversion cycle in commodities. Our industry expertise, product know-how and collateral management skills are essential to provide for tailor-made debt solutions (funded and unfunded) striking the balance between client needs and risk management

• 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

A Leading European Commodity Finance House

Commodity Finance

Commodity Finance in EMEA – FY 2016

Pos Mandated Lead Arranger Deal Value (EUR mn) No. Share % 1 Export-Import Bank of China 9,431 2 5.3 2 ING 7,660 81 4.3 3 BNP Paribas 7,028 65 4.0 4 Société Générale CIB 6,884 67 3.9 5 Crédit Agricole CIB 6,834 55 3.9 6 HSBC 6,581 61 3.7 7 UniCredit 5,752 56 3.3 8 Mitsubishi UFJ Financial Group 5,690 35 3.2 9 Citi 5,368 34 3.0

10 Natixis 4,423 47 2.5 Total 177,135 257 100.0


Selected Commodity Finance Transactions

33

Commodity Finance

• The USD 3 bn Revolving Credit Facility is part of the USD 21.5 bn financing for TCO’s USD 42.4 bn expansion and maintenance programme for the Tengiz oil field

• Tengizchevroil LLP was formed by the Republic of Kazakhstan and Chevron Corporation in 1993 to explore and develop super giant Tengiz oilfield

Tengizchevroil

USD 3,000,000,000 Commercial Bank

Facility Bookrunner, MLA

Kazakhstan, July 2016

• The USD 1.67 bn revolving credit facility for financing general corporate purposes and working capital requirements was closed substantially oversubscribed

• The facility supports Gunvor’s continuing global growth strategy with geographic expansion, product diversification and investments along the value chain

Gunvor

USD 1,670,000,000 Revolving Credit

Facilities Active Bookrunner, MLA Switzerland, Nov 2016

• The Facility has a tenor of three years with one 12-month extension option and includes an accordion option of USD 150 mn

• Successful syndication with significant oversubscription of more than 50%

• The Facility will be used for the refinancing of the existing 2013 Multicurrency RCF as well as the financing of working capital

Ameropa Group

USD 550,000,000 Borrowing Base

Facility Coordinator, BMLA,

Security Agent Switzerland, July 2016

• Following strong global demand from a range of international banks across six continents, the new RCF was oversubscribed to USD 1 bn and the company scaled it back to USD 800 mn

• Puma Energy is a mid-and downstream oil company, majority-owned by the Dutch Trafigura and the Angolan Sonangol Group

Puma International Financing

USD 800,000,000 Revolving Credit Facility

Bookrunner, MLA

Luxemburg, Apr 2016

• Leading commodity trader Trafigura’s flagship European multi-currency syndicated USD 5.1 bn 1-year and 3-year revolving credit facilities, initially launched at USD 4.275 bn, was substantially oversubscribed

• The facility will be used to refinance the company’s existing facilities of 2015, as well as for general corporate purposes

Trafigura


Active Bookrunner, MLA Switzerland, Mar 2016

• UniCredit acted in senior roles for the USD 3 bn prepayment facility in favour of Swiss commodity trader Vitol

• Vitol will use the loan to make advance payments to buy oil from Kazakh state-owned oil producer KMG

KazMunaiGas/Vitol

USD 3,000,000,000 Structured Prepayment

Facility Active Bookrunner, Underwriter, CMLA,

Facility Agent Kazakhstan, Mar 2016

https://upload.wikimedia.org/wikipedia/de/3/3d/Tengizchevroil_Logo.svg

34

Selected Commodity Finance Transactions

Commodity Finance

Lundin Petroleum

USD 5,000,000,000 Reserve Based Lending

MLA

Norway, Mar 2016

Centerra Gold

USD 150,000,000 Project Finance

Bookrunner, CMLA, Facility & Security Agent

Turkey, Apr 2016

Nidera

USD 900,000,000 RCF working capital

Lead Arranger

Netherland, Apr 2016

Concordia Agritrading Pte Ltd

USD 900,000,000 Syndicated Revolving

Credit Facility Lead Arranger

Singapore, Apr 2016

Angola LNG

USD 1,790,000,000 Term Loan Facility

Lead Arranger,

Angola, Apr 2016

Gunvor Singapore Pte Ltd

USD 1,041,000,000 Syndicated Revolving

Credit Facility Lead Arranger

Singapore, May 2016

Mercuria


Bookrunner, MLA

Switzerland, June 2016

Alacer Gold

USD 350,000,000 Project Finance

Bookrunner, CMLA, Facility & Security Agent

Turkey, June 2016

Glencore

USD 1,200,000,000 Borrowing Base Facility

Arranger

Switzerland, July 2016

Gunvor

USD 400,000,000 Borrowing Base Facility Sole Coordinator, Lead Arranger, Bookrunner, Security/Facility Agent Switzerland, June 2016

Mercuria

USD 850,000,000 Borrowing Base Facility

Arranger

Switzerland, July 2016

Vitol


Active Bookrunner, MLA Switzerland, Oct 2016

BB Energy


MLA

UK, Oct 2016

Louis Dreyfus Company Metals


Bookrunner, MLA

Switzerland, Dec 2016

Louis Dreyfus Company

USD 1,000,000,000 Revolving Credit Facilities

Active Bookrunner, MLA Switzerland, Dec 2016

Neumann Kaffee Group

USD 850,000,000 Borrowing Base Facility

Participant

Germany, Nov 2016

E D & F MAN


MLA

UK, Mar 2016

Dea Deutsche Erdöl

EUR 50,000,000 Revolving Credit Facility

MLA Germany, Apr 2016

Agenda

• Loans





• Project Finance



35

House of Choice for Structured Trade & Export Finance

36

Structured Trade & Export Finance

• UniCredit assists clients in structuring, arranging and syndicating financing solutions for mid- and long-term export business

• Based on our strong network with specialist teams in Austria, France, Germany, Italy, Americas and Asia, we work with major European exporting companies as well as main global ECAs

• UniCredit is one of three banks winning the 2016 Importers’ Choice Award based on a survey TXF ran in which they interviewed importers 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 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 finance tools (e.g. Letters of Credit, Guarantees) and supplier credits with ECA-enhancement

• 2016 has been solid driven by our strong expertise in shipping, infrastructure and 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

All ECA-covered Global – FY 2016

Pos Mandated Lead Arranger Deal Value (EUR mn) No. Share % 1 BNP Paribas 3,739 30 11.5 2 HSBC 3,103 36 9.5 3 Cassa Depositi e Prestiti SpA 2,680 6 8.2 4 Crédit Agricole CIB 2,151 22 6.6 5 ING 1,887 25 5.8 6 UniCredit 1,655 12 5.1 7 Citi 1,643 14 5.0 8 Santander 1,514 20 4.6 9 Sumitomo Mitsui Financial Group 1,403 15 4.3

10 Société Générale CIB 1,398 18 4.3 Total 32,610 155 100.0


Selected Structured Trade & Export Finance Transactions

37

Structured Trade & Export Finance

• Sace-covered aimed at supporting Virgin Voyages in the acquisition of mid-large size cruise ships from Italian Fincantieri

• The deal is structured in three facilities • UniCredit acted as Mandated Lead Arranger,

SACE Coordinating Bank, Facility/SACE Agent, Security Agent and Account Bank

VC Ship One Limited

USD 2,154,098,384 SACE-covered Facility

MLA, Agent, SACE Coordinating Bank

Bermuda, Aug 2016

• UniCredit Bank AG co-financed one of the largest projects in Egypt ever supporting Siemens as MLA in a #16 banks syndicate

• Seamless cooperation across CIB network including Senior Banker, MNC-coverage, EPA, IPPF, Structured Syndicate, FIG, CRO

• One of three Hermes facilities for gas-fired power plants to Egyptian Electricity Holding

4,800 MW CCGT EEHC – Burullus

EUR 1,160,691,038 Euler Hermes Facility

Egypt, Mar 2016

• Successful closing of EUR 435 mn MSC Group refinancing for MSC core client of UniCredit Bank AG and UniCredit SpA in a very short timeframe

• Unicredit is acting as MLA, Sole Lender, Hedging Provider, Facility Agent and Security Agent for a 100% Bpi France AE-covered Facility

MSC Group

EUR 435,358,355 Bpi France AE-covered

MLA, Sole Lender, Hedging Bank, ECA &

Security Agent Switzerland, Dec 2016

• Financing of the turnkey erection of the exporter’s fourth polyclinics project in Ghana

• The project consists of planning and erection of the medical centre as well as delivery of medical equipment

• Financing is provided by UniCredit Bank Austria AG as Sole Lender

5 Polyclinics Phase IV Greater Accra Region

EUR 13,500,000 OeKB-covered Buyer’s Credit Sole Lender

Rep. of Ghana, Sep 2016

• OeKB-covered financing for 100% of a 20 MW Photovoltaic Park based on Senegalese state guarantee

• First larger-volume financing in Africa for Austrian supplier Energie Merl

• UniCredit Bank Austria AG acted as Sole Lender thereby emphasising its strong position in the African market

20 MW Photovoltaic Park Kahone

EUR 28,141,338 OeKB-covered Buyer’s Credit Sole Lender

Senegal, May 2016

• Belgian ECA backed EUR 60 mn Delcredere | Ducroire Facility for the financing of a 380 bed Hospital in Niger

• Together with ING and Commerzbank, UniCredit Bank AG acts as joint MLA with a share of 1/3rd

• UniCredit Bank AG fostered ties with ING, being an important partner for further ECA business ex Belgium and implemented a new client relationship with Commodore

Maradi Ref. Hospital

EUR 60,000,000 ECA-covered

Buyer’s Credit MLA

Niger, Mar 2016

Disclaimer

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UniCredit Corporate & Investment Banking is a division of UniCredit Group 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 and other members of UniCredit. UniCredit Group and its subsidiaries are subject to regulation by the European Central Bank. In addition to that, UniCredit Bank AG and its branches are regulated by the German Financial Supervisory Authority (BaFin). 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 the 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). 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 a recommendation or an advertisement thereof. This marketing communication is directed solely at investment professionals and constitutes a “non-retail communication” for the purposes of the relevant rules.

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

UniCredit Local Roots. European Leadership. Transactions: 2016 League Tables: 1 January – 31 December 2016 Sources: UniCredit, Dealogic, Mergermarket, Thomson Financial v1 (condensed version) – 30.03.2017

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The largest lender in EMEA in EUR

EMEA Syndicated Loans in EUR by volume (period: 1 Jan – 31 Dec 2016); Dealogic as of 27 Mar 2017

The “Most Impressive Growing Force in the Loan Market”

20.6

11.8

3.5

1.7

0.8

No. of deals in 2016

148

68

41

17

(EUR bn)

3

unicredit local roots. european leadership....achievements in 2016. after the successful completion...

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