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LIQUIDITY & FUNDING: CONFIRMED SOLID POSITION. 2008 FUNDING PLAN AHEAD OF SCHEDULE S/T LIQUIDITY POSITION • Comfortable S/T liquidity position (1) further improving in first months of 08 Index figures 100 DEC 07 MAR 08 S/T FUNDING BASE • Stable and diversified Diversified geographic base MAR 08 132 Milan London New York Dublin Luxemburg Hong Kong Munich Vienna Warsaw Paris Tokyo M/L TERM FUNDING • Co-ordinated, decentralized funding model with clear governance: Four regional liquidity centers Intra-<strong>Group</strong> liquidity management trading platform • Broad diversification in instruments and markets • Continued presence into the market, perfectly navigating in a tough environment: 2 bn subordinated debt issued in 2H07 2.5 bn senior debt in Feb 08 • Disciplined Asset / Liability structure: Liquidity ratio (2) limit above 0.90 • 2008 funding plan ahead of schedule 40 (1) 1 month liquidity position: (net liquid inflows in the timeframe+securities eligible for discount to ECB +marketable repoable securities) (2) The ratio is calculated as the sum of total liabilities / the sum of total assets above the 1Y maturity
RETAIL DIVISION: OPERATING PERFORMANCE BY COUNTRY TOTAL REVENUES (mln and y/y % ch.) 2,842 2,726 322 296 440 471 1,933 2,105 4.3% -8.1% -6.6% 8.9% • AUSTRIA: slight increase in household loans and saving deposits (with sluggish spreads), offset by lower sales of investment products • GERMANY: net interest income decline (-3%) mainly due RWAs optimization, driving down lending volumes; good growth of deposits (+16% y/y). Fees and commissions affected by lower up-front on investment products 1Q07 1Q08 • ITALY: performance driven by net interest growth and fees from sales of investments products in former Capitalia OPERATING COSTS (mln and y/y % ch.) 1,781 235 215 346 324 1,200 1,227 1Q07 1,767 1Q08 Austria Germany Italy -0.8% -8.5% -6.4% 2.3% • AUSTRIA: continuous reduction, driven by FTEs rightsizing program and cost cutting on other administrative expenses (-11.5% y/y), mainly indirect • GERMANY: confirmed cost cutting on both staff and other administrative expenses (-4.4%, mainly ICT and back office) • ITALY: slight increase related to growth initiatives (branch opening, Household Financing) and advertising campaign. Flat staff expenses: FTEs rightsizing plan offsets effect of labour contract 41
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 and 12: GROUP ASSET QUALITY KEEPS IMPROVING
Page 13 and 14: NON OPERATING ITEMS IN 1Q08: POSITI
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: HVB: CONTINUED SUCCESSFUL REDUCTION
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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