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CAUTIOUS LOAN LOSS PROVISIONS, TO FACE EXPECTED ECONOMY SLOWDOWN NET WRITE DOWNS ON LOANS COST OF RISK (2) (mln) 620 +21.8% 573 +31.8% 755 682 changes in perimeter and one-off (1) (bp) <strong>Group</strong> CEE Region MIB Neg. 25 48 56 44 56 FY07 1Q08 +10 (Annualized) p.p. Corporate 46 53 1Q07 4Q07 1Q08 COST OF RISK 50 44 56 Retail 85 97 12 • Increase in net provisions on loans y/y largely due to: MIB comparing with just 1 mln provisions in 1Q07 Corporate up 36% y/y also due to ~20 mln reclassified from risks and charges; stable q/q net of that and of the exceptional recoveries in Germany in 4Q07 (just 2 mln provisions) Retail up from low 1Q07 (~240 mln) but stable q/q CEE Region +49% y/y entirely due to new acquisitions • Overall inflows trend shows only modest signs of deterioration, mainly in Italy • <strong>Group</strong> cost of risk in line with expectations (1) Consolidation of ATF and Ukrsotsbank and reclassification in Corporate (2) Profit (loss) and net write downs on loans / Total Period Average RWA for Credit Risks
NON OPERATING ITEMS IN 1Q08: POSITIVE NET INCOME FROM INVESTMENTS (mln) 2,311 51 24 755 202 • Tax rate at 25.7%, -5.0 p.p. y/y • Disposal of Custodian Business of former Capitalia 432 161 83 1,007 Operating Profit Provisions for risk & charges Integration costs Net write downs of loans Net income from investments Taxes Minorities PPA Consolidated Net Income 13
Page 1 and 2: UNICREDIT GROUP 1Q08 Results Alessa
Page 3 and 4: AGENDA UniCredit Group 1Q08 Results
Page 5 and 6: SOLID COMMERCIAL BANKING PERFORMANC
Page 7 and 8: STRONG GROWTH OF LOANS AND DEPOSITS
Page 9 and 10: STRONG OPERATING COST DISCIPLINE: -
Page 11: GROUP ASSET QUALITY KEEPS IMPROVING
Page 15 and 16: 6% CORE TIER I YEAR END 2008 TARGET
Page 17 and 18: SIGNIFICANT EVA CREATION FROM COMME
Page 19 and 20: RETAIL ITALY: STRENGTH OF THE NETWO
Page 21 and 22: STRONG COST CUTTING CONFIRMED, WITH
Page 23 and 24: ~1 BN IMPACT IN CREDIT RELATED BUSI
Page 25 and 26: MIB MARKETS EXCL. CREDIT RELATED AC
Page 27 and 28: PRIVATE BANKING DIVISION: POSITIVE
Page 29 and 30: ASSET MANAGEMENT: AUM DOWN 5% EXCLU
Page 31 and 32: CEE REGION: SIGNIFICANT NET INCOME
Page 33 and 34: POLAND’S MARKETS: HEALTHY LENDING
Page 35 and 36: CONCLUSIONS • Commercial banking
Page 37 and 38: AGENDA UniCredit Group 1Q08 Results
Page 39 and 40: HVB: CONTINUED SUCCESSFUL REDUCTION
Page 41 and 42: RETAIL DIVISION: OPERATING PERFORMA
Page 43 and 44: GLOBAL ABS PORTFOLIO: A HIGH QUALIT
Page 45 and 46: HIGH QUALITY LEVERAGED BUY-OUT BUSI
Page 47 and 48: CORPORATE DIVISION: NET WRITE-DOWNS
Page 49 and 50: CEE DIVISION: INCOME STATEMENT mln
Page 51 and 52: CEE DIVISION: REVENUE AND NET INCOM
Page 53 and 54: HVB INCOME STATEMENT mln 1Q07 1Q08

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