Prospectus - Notowania

First Contribution, shares of the Omicron Plus Fund that were initially underwritten by
UniCredit Real Estate and subsequently entirely placed by it with qualified investors were
issued in favour of UniCredit Real Estate by way of consideration. In this context, lastly, on
September 22, 2009, UniCredit Real Estate concluded an agreement for the transfer of 3,200
shares to Euro Omicron Private Limited, a company connected with GIC RE, real estate branch
of the Government of Singapore Investment Corporation, for a total consideration of about 78
million. The sale to Euro Omicron Private Limited enabled UniCredit Real Estate to complete
the sale of all shares held in the Omicron Plus Fund, generating a capital gain of about €163
million in 2009 (whereof about €131 million during the third quarter of 2009) net of tax effects
and transaction costs, which are added to about €282 million already realised in 2008.
On September 30, 2009, UniCredit Real Estate made a second contribution (the “Second
Contribution”) to the Omicron Plus Fund, involving a portfolio of 179 buildings located in
several Italian cities for a total contribution value of about €527 million. Similarly to the First
Contribution, the acquisition was financed for 60% by a pool of banks whilst, for the residual
40% of the contribution value, additional shares of the Omicron Plus Fund were issued; some
of them have already been placed on the market. The remaining shares held by UniCredit Real
Estate will be placed no later than May 2010 with qualified investors identified by Fimit, in its
capacity as agent for the placement.
Within the scope of the Second Contribution, the validity of the transfer is subordinated,
relatively to some buildings subject to “direct” restraint in accordance with Legislative Decree
no. 42 of January 22, 2004 (the “Restrained Buildings”), to the failure to exercise the first bid
right by the State or by some public agencies identified by the aforesaid legislative decree.
The buildings of the First Contribution and of the Second Contribution shall be leased to
UniCredit Real Estate, and subsequently sub-leased to the companies of the Group with lease
contracts with a validity of 18 years, renewable for 6 additional years, with such characteristics
as to allow the necessary flexibility in the management of the Group’s network.
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On September 29, 2009, UniCredit Real Estate contributed to the Core Fund (the “Core
Contribution”) a portfolio constituted by 13 historic and highly valuable buildings located in
the cities of Turin, Genoa and Milan, for a contribution value of about €574 million, whose
acquisition by the Core Fund was financed, similarly to the Omicron Plus Fund, for 60% by a
pool of banks and for the remaining 40% of the value of the Core Contribution through the
issue of shares.
In relation to the contribution of the real estate portfolio not comprised among the buildings
subject to restraint, certain shares (equal to 65% of the total shares to be issued) of the Core
Fund were issued in favour of UniCredit Real Estate; 86% of said shares has already been
placed with institutional investors, among them the Fondazione Cassa di Risparmio di Torino
and other bank foundations holding shares in REAM, generating a capital gain, net of tax
effects and transaction costs, of about €110 million.
Instead, with respect to the remaining 35% of the shares related to the portfolio comprising the
buildings subject to restraint, which may be sold during 2010, the issue date was postponed
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