Prospectus - Notowania

9. REPORT ON THE OPERATIONAL AND FINANCIAL SITUATION
Introduction
The balance sheet, income statement and financial data as at December 31, 2007 and December
31, 2008 have been drawn up based on the data obtained from the UniCredit Group
Consolidated Financial Statements as at December 31, 2008, subject to auditing by the External
Auditors.
The consolidated balance sheet, income statement and financial data of the UniCredit Group for
the year ended as at December 31, 2006, shown in the tables below, have been drawn up based
on the data obtained from the Consolidated Financial Statements as at December 31, 2006,
subject to auditing by the External Auditors.
The balance sheet, income statement and financial data as at September 30, 2009 and the
income statement data as at September 30, 2008, used in this Chapter for comparative
purposes, have been taken from the Consolidated Interim Report as at September 30, 2009,
provided in the Appendix to the Prospectus and available on the internet site
www.unicreditgroup.eu. The Condensed Financial Statements as at September 30, 2009 were
subject to a limited audit by the External Auditors, which issued their report on November 25,
2009.
The financial statements as at December 31, 2008, 2007 and 2006, drawn up based on the
IAS/IFRS, according to the provisions of the Bank of Italy Instructions set forth in Circular no.
262 of December 22, 2005 and subsequent amendments and integrations, can be viewed in full
at the headquarters of the Issuer and on the internet site www.unicreditgroup.eu.
The data as at December 31, 2007 were extracted from the Consolidated Financial Statements
closed as at December 31, 2008 as, following the completion of PPA activities, mainly linked
to the aggregation with the Capitalia Group, several amounts in the balance sheet as at
December 31, 2007 were recalculated, regarding the fair value of the assets and liabilities
acquired. Therefore, the data as at December 31, 2007 were not subject to auditing. The method
for restating this data and the disclosure set forth in the Notes to the Financial Statements as
regards the changes made were examined by the External Auditors for the purpose of
expressing their opinion on the Consolidated Financial Statements as at December 31, 2008, as
reported in the report issued on April 9, 2009.
The income statement data as at September 30, 2008 have been taken from the Consolidated
Interim Report as at September 30, 2009, as it represents the latest expression of the PPA
activities linked to the aggregation with the Capitalia Group. Therefore, the data as at
September 30, 2008 used for the purposes of the Prospectus were not subject to auditing.
However, the methods for restating this data, as regards the changes made, were examined by
the External Auditors for the purpose of the limited audit of the Consolidated Condensed
Financial Statements as at September 30, 2009 and included in the Consolidated Interim Report
as at that date. The Consolidated Condensed Financial Statements as at September 30, 2008,
drawn up for the purposes of the “Prospectus regarding the offer in option to shareholders and
the admission to listing on the Electronic Stock Market organised and managed by Borsa
Italiana S.p.A., on the Frankfurt Stock Exchange (Frankfurter Wertpapierbörse) and on the
Warsaw Stock Exchange (Gielda Papierów Wartościowych w Warszawie SA) of 972,225,376
ordinary shares of UniCredit S.p.A.” dated December 23, 2008, and attached to said
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