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UNICREDIT GROUP 1Q08 INCOME STATEMENT mln 1Q08 y/y % change q/q % change Total Revenues 6,449 -16.5% -9.3% Operating Costs -4,138 1.2% 0.0% Operating Profit 2,311 -36.5% -22.4% Net Write Downs of Loans -755 21.8% 31.8% Other Non Operating Items (1) 151 -36.8% -76.8% Integration Costs -24 50.0% -97.8% Net Income for the Group pre PPA 1,090 -47.0% -15.8% Net Income for the Group 1,007 -51.0% -18.3% Cost/Income ratio, % 64.2% 11.3 pp 6.0 pp Cost of risk 56 6 bp 12 bp FTEs 180,658 17,313 10,842 Branches 10,301 850 587 • Revenues down by 16.5% y/y, but up by more than 8% y/y in commercial banking • Costs increase only by 1% y/y due to expansion and acquisitions in CEE; -3.6% y/y ex CEE • Net write downs increase by 21.8% y/y due to growth in lending activity and cautious provisioning • Net income -51% y/y, but rising by 15% in commercial banking • FTEs +10,842 due to new consolidations and branch openings; good progress in rightsizing (-2,410) • Branches +587 o/w 487 for Ukrsotsbank & 101 new openings in CEE 4 (1) Provisions for risk and charges and profit from investments
SOLID COMMERCIAL BANKING PERFORMANCE IN 1Q08, +8.4% Y/Y Weight on total Group 43% 24% 23% 1Q08 Revenues, mln Retail CEE Reg. Corporate 1,629 1,504 2,842 y/y growth 4.3% 24.8% 3.2% • Retail, CEE Region 4.2% and Corporate (representing 24.8% ~90% of revenues) keep posting good 2.2% growth 1.9% 8.1% • Private banking delivers higher -17.3% revenues despite market -123.8% conditions 6% 95% Private Commercial Bkg 376 6,351 1.6 % 8.4% • AM affected by market performance and net redemptions. AuM -20% y/y 5% AM MIB 317 -295 -17.0% n.m. • MIB impacted by 1 bn charges in Markets credit related activities; net of that ~700 mln revenues 5 Commercial Banking net profit up double digit, +15% y/y
Page 1 and 2: UNICREDIT GROUP 1Q08 Results Alessa
Page 3: AGENDA UniCredit Group 1Q08 Results
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 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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