UniCredit Local Roots. European Leadership. · 2 . UniCredit Local Roots. European Leadership. Transactions: 2016 YTD . League Tables: 1 January – 30 June 2016 . Sources: UniCredit,

Half Year 2016 and beyond

UniCredit Local Roots. European Leadership.

2

UniCredit Local Roots. European Leadership. Transactions: 2016 YTD League Tables: 1 January – 30 June 2016 Sources: UniCredit, Dealogic, Mergermarket v3 – 24.10.2016

A Leading Investment Bank in Europe

3 Rankings according to Dealogic unless otherwise stated (period 1 Jan – 30 June 2016)

EMEA Bonds in EUR (non-self led) by no. of transactions (189) FY 2015 achievement confirmed

EMEA Syndicated Loans – All Asset Classes (EUR 17,819 mn) vs FY 2015 (#4)

All Syndicated Loans in Italy (EUR 1,561 mn)* Germany (EUR 4,154 mn)*

CEE (EUR 2,544 mn) vs FY 2015 (#3) * FY 2015 achievement confirmed

Corporate Bonds in EUR in Italy (EUR 1,578 mn)* Germany (EUR 3,567 mn)* Austria (EUR 75 mn)*

* FY 2015 achievement confirmed

Loans Agent in EMEA by no. of transactions (48) FY 2015 achievement confirmed

Sponsor-driven Acquisition Finance in EMEA by no. of transactions (29) vs FY 2015 (#3)

A Leading Financing Player in Europe

4 *Dealogic as of 6 July 2016 (period 1 Jan – 30 June 2016) BNP Paribas, Crédit Agricole CIB, UniCredit, Société Générale CIB, HSBC, Barclays, JPMorgan, Deutsche Bank, Citi, Goldman Sachs

#3 Combined EMEA Bonds and Loans in EUR League Table (1 Jan – 30 June 2016, in EUR bn)*

51.3

48.2

46.5

46.1

45.3

42.6

34.1

32.3

30.7

26.8

Agenda

• Loans

• Debt Capital Markets

• Equity Capital Markets

• Financial Sponsor Solutions

• Corporate Finance Advisory

• Project Finance

• Commodity Finance

• Structured Trade & Export Finance

5

An Established Leading Arranger and Bookrunner in Syndicated Loans

6

Loans

• In the first half of 2016, UniCredit has been involved in 102 syndicated loans in EMEA with a total deal volume of EUR 21.6 bn, thereof in 83 transactions in a leading bookrunner role (ca. 20% of all transactions in EMEA) with a total deal volume of 17.8 bn

• Compared to the same period in 2015, we climbed up the league table by 5 places, ranking #1 in EMEA in All Asset Classes

• We have constantly improved our market position and have established ourselves among Europe’s leading banks which is proven by our excellent League Table positions, e.g. Italy (#1), Germany (#1) and CEE (#1)

• In addition, we have increased our market share as measured by volume increase in Bookrunner volumes: EMEA all loans from 4.2% to 6.6%, in Germany all loans from 8.4% to 23.5% and in Italy all loans from 13.2% to 27.9%

• Strong performance drivers were event-driven underwritings such as Syngenta and Uniper as well as large refinancings in the commodity sector

• We are the leading European Facility Agent by Activity. In addition, we rank #1 in Italy and #2 in Germany

EMEA Syndicated Loans (All Asset Classes) – H1 2016

Pos Bookrunner Deal Value (USD mn) No. Share % 1 UniCredit ( #7 in H1 2015) 17,819 83 6.6 2 HSBC 15,217 67 5.6 3 Barclays 14,024 25 5.2 4 Citi 13,937 44 5.2 5 Société Générale CIB 13,436 63 5.0 6 ING 12,170 74 4.5 7 BNP Paribas 11,419 77 4.2 8 Crédit Agricole CIB 11,085 60 4.1 9 JPMorgan 10,835 33 4.0

10 Morgan Stanley 10,517 13 3.9 Total 273,396 427 100.0

Period: 1 Jan – 30 Jun 2016; Source: Dealogic, 4 July 2016

European Facility Agent by Activity – H1 2016

Pos Facility Agent Deal Value (USD mn) No. Share % 1 UniCredit (#1 in H1 2015) 19,607 48 5.5 2 ING 20,085 40 5.6 3 Santander 5,368 32 1.5 4 Commerzbank Group 13,896 30 3.9 5 BNP Paribas 11,612 25 3.3 6 HSBC 31,125 24 8.7 7 Nordea 11,219 20 3.2 8 Deutsche Bank 11,112 20 3.1 9 Crédit Agricole CIB 6,898 20 1.9

10 RBS 8,619 19 2.4 Total 423,845 774 100.0

Period: 1 Jan – 30 Jun 2016; Source: Dealogic, 4 July 2016

Significant Corporate Loans

7

• Purpose: Support the acquisition of the German business of Swedish bearings maker SKF AB and refinance existing debt

• Tenor: 5+1+1 years • The facilities were fully underwritten by the

BMLAs1 UniCredit, Commerzbank and Credit Agricole

Stabilus

EUR 640,000,000 Acquisition Facilities, Equity Bridge Facility Underwriter, BMLA, Fac. & Sec. Agent

Germany, June 2016

• Purpose: Back the acquisition of Syngenta AG by China National Chemical Corporation – ChemChina

• Tenor: Multi-tenor • The deal was coordinated by HSBC, with

UniCredit acting as Sub-Underwriter and Bookrunner and MLA

Syngenta

USD 20,000,000,000 Acquisition Facilities,

Revolving Credit Facility Underwriter,

Bookrunner & MLA Germany, Mar 2016

• Purpose: Support the acquisitions of Media Broadcast GmbH and Sunrise Communications Group AG by Freenet AG

• Tenor: Multi-tenor • UniCredit acted as Underwriter, Bookrunner,

MLA and Facility Agent

freenet

EUR 1,140,000,000 Revolving Credit and Term Loan Facilities

Underwriter, Bookrunner, MLA & Facility Agent Germany, May 2016

• Purpose: General Corporate Purpose and Capital Expenditures

• Tenor: 6 years • UniCredit acted as Global Coordinator and

alongside Banca Monte dei Paschi di Siena, Banco Popolare, BNP Paribas and Intesa Sanpaolo as Bookrunner and MLA

Marcegaglia

EUR 492,500,000 Term Loan Facilities

Global Coordinator, Bookrunner & MLA

Italy, Mar 2016

• Purpose: Back the acquisition of UK arts and craft materials manufacturer Daler-Rowney

• Tenor: 5 years • UniCredit acted as Global Coordinator in

the Club comprising Intesa Sanpaolo and Mediobanca and as Facility & Security Agent

F.I.L.A. Spa

EUR 130,000,000 Acquisition Facilities

Bookrunner, MLA, Global Coordinator,

Facility Agent Italy, Feb 2016

• Purpose: Stand-alone financing for Uniper in connection with the spin-off from E.ON

• Tenor: 3 years • UniCredit underwrote the deal alongside JP

Morgan and Deutsche Bank and also acted as Bookrunner, MLA and Facility Agent

Uniper

EUR 5,000,000,000 Revolving Credit Facility,

Term Loan Facility Underwriter, Bookrunner,

MLA & Facility Agent Germany, June 2016

1Combined role of Bookrunner and MLA

Loans

Further Selection of Corporate Loans

8

Werhahn Industrieholding

EUR 500,000,000 Revolving Credit Facility

Coordinator, BMLA & Documentation Agent Germany, July 2016

MAHLE

EUR 1,600,000,000 Revolving Credit Facility

Coordinator,

Bookrunner & MLA Germany, July 2016

Aeroporti di Roma


Global Coordinator,

BMLA & Facility Agent Italy, July 2016

MHM Holding GmbH

EUR 150,000,000 Revolving Credit Facility,

Term Loan Facility Coordinator, Bookrunner,

MLA & Facility Agent Germany, July 2016

Gazprom M&T

USD 400,000,000 Revolving Credit

Facilities Coordinator,

Bookrunner & MLA UK, July 2016

Veritas


Bookrunner, MLA,

Doc. & Facility Agent Germany, July 2016

Stadler

CHF 1,500,000,000 Revolving Credit Facility,

Guarantee Facility

Bookrunner & MLA Switzerland, July 2016

Ameropa

USD 550,000,000 Revolving Borrowing

Base Facility Coordinator, Bookrunner,

MLA & Security Agent Switzerland, July 2016

Steinhoff

GBP 460,200,000 Bridge Term Loan

Facility Underwriter, Bookrunner,

Arranger & Agent Austria, July 2016

Globus


Bookrunner & MLA

Germany, June 2016

SGB-SMIT


Guarantee Facility Coordinator,

Bookrunner & MLA Germany, June 2016

Weishaupt

EUR 425,000,000 Term Loan Facilities,

Revolving Credit Facility Coordinator, BMLA, Doc. & Sec. Agent

Germany, June 2016

Mercuria

USD 2,200,000,000 Revolving Credit

Facilities

Bookrunner & MLA Switzerland, June 2016

Braas Monier


Coordinator,

Bookrunner & MLA Luxembourg, June 2016

KME

EUR 504,748,100 A&E

Revolving Credit Facilities

Bookrunner & MLA Italy, June 2016

CMC


Bookrunner, MLA &

Facility Agent Italy, July 2016

Francotyp-Postalia

EUR 120,000,000 Term and Revolving

Facilities

Bookrunner & MLA Germany, June 2016

Aspen


Term Loan Facility

Bookrunner & MLA South Africa, June 2016

Loans

Further Selection of Corporate Loans

9

Intersnack

EUR 375,000,000 GBP 202,500,000

Revolving Credit Facility, Term Loan Facility

Coordinator, Bookrunner & MLA

Germany, May 2016

FUNKE MEDIENGRUPPE

EUR 830,000,000 Term and Revolving

Facilities Coordinator, Bookrunner, MLA, Agent & Sec. Agent

Germany, Apr 2016

Glas Trösch

EUR 295,000,000 CHF 100,000,000

Revolving Credit Facility, Term Loan Facilities Bookrunner & MLA

Switzerland, Apr 2016

Trafigura

USD 5,100,000,000 Revolving Credit Facility

Active Bookrunner &

MLA Netherlands, Mar 2016

Telefonica Deutschland


Bookrunner, MLA &

Facility Agent Germany, Mar 2016

thyssenkrupp


Bookrunner & MLA

Germany, Mar 2016

Aurubis


Coordinator,

Bookrunner & MLA Germany, Feb 2016

Lavazza

EUR 400,000,000 Term Loan Credit

Facility

Bookrunner & MLA Italy, Feb 2016

Glencore


Bookrunner & MLA Switzerland, Feb 2016

KraussMaffei

EUR 625,000,000 Term Loan, L/G Facility, Revolving Credit Facility

Underwriter, Global Coordinator, BMLA &

Doc./Facility/Sec. Agent Germany, Feb 2016

Getrag Ford Transmissions


Term Loan Bookrunner, MLA &

Agent Germany, Jan 2016

Vapiano


Guarantee Facility Coordinator,

Sole Bookrunner, Facility & Security Agent

Germany, Jan 2016

Coca-Cola European Partners


Term Loan Facilities Bookrunner & MLA

UK, May 2016

Steinhoff


Bookrunner & MLA Austria, June 2016

OHB


Bookrunner, MLA &

Documentation Agent Germany, May 2016

Linde + Wiemann


Bookrunner, MLA,

Doc./Fac./Sec. Agent Germany, Mar 2016

Ascential

GBP 345,000,000 Revolving Credit Facility,

Term Loan Facility

MLA UK, Feb 2016

Agorà Investimenti Spa


Term Loan Bookrunner, MLA &

Facility Agent Italy, Feb 2016

Loans

Agenda

• Loans





• Project Finance



10

11

Again #1 in Debt Capital Markets by number of offerings

1CEE includes Russia, CIS and Turkey

• UniCredit confirmed its #1 position in EMEA in the first half of 2016 by number of offerings, being continuously TOP ranked in all three relevant segments (i.e. Corporates, Financial Institutions and Public Sector)

• UniCredit reaffirmed its leading role in EMEA Covered Bonds (#1 by number of offerings), CEE Bonds (#2), and SSA Bonds (#3)

• UniCredit further increased its market share in Corporate Bonds in EUR (H1 2016 5.7% from 5.0% in 2015) leveraging on leading market positions in all our home markets Italy, Germany and Austria

• Till date UK’s EU referendum did not lead to a significant change in tone manifested by the solid shape of the market

All EMEA Bonds in EUR – H1 2016

Pos Bookrunner Deal Value (EUR mn) No. Share % 1 BNP Paribas 43,360 175 6.9 2 HSBC 41,119 185 6.5 3 Barclays 40,332 138 6.4 4 Crédit Agricole CIB 39,358 153 6.3 5 Société Générale CIB 39,347 171 6.2 6 UniCredit 37,873 198 6.0 7 Deutsche Bank 29,133 131 4.6 8 Citi 26,119 122 4.1 9 JPMorgan 25,684 113 4.1

10 Goldman Sachs 24,888 90 4.0 Total 630,211 1,398 100.0

Period: 1 Jan – 30 June 2016; Source: Dealogic, 10 July 2016

All CEE1 Bonds in EUR – H1 2016

Pos Bookrunner Deal Value (EUR mn) No. Share % 1 Citi 2,425 12 16.6 2 UniCredit 1,893 8 13.0 3 JPMorgan 1,493 6 10.2 4 Société Générale CIB 1,426 8 9.8 5 HSBC 1,153 6 7.9 6 Barclays 1,079 5 7.4 7 BNP Paribas 860 4 5.9 8 Goldman Sachs 647 3 4.4 9 ING 605 3 4.2

10 Natixis 591 3 4.1 Total 14,594 21 100.0


Debt Capital Markets

Confirming our strengths in the Public Sector

12

EMEA SSA Euro-Denominated Bonds – H1 2016

Pos Bookrunner Deal Value (EUR mn) No. Share % 1 Barclays 23,364 57 9.2 2 HSBC 20,755 72 8.1 3 UniCredit 20,086 75 7.9 4 Crédit Agricole CIB 17,090 48 6.7 5 JPMorgan 17,000 51 6.7 6 BNP Paribas 16,000 36 6.3 7 Société Générale CIB 15,647 45 6.1 8 Goldman Sachs 14,116 40 5.5 9 Citi 10,736 35 4.2

10 Landesbank Baden-Wuerttemberg 9,327 51 3.7 Total 255,288 379 100.0

Period: 1 Jan – 30 June 2016; Source: Dealogic Analytics, per 10 July 2016

CEE – EMEA SSA Euro-Denominated Bonds – H1 2016

Pos Bookrunner Deal Value (EUR mn) No. Share % 1 Citi 1,899 8 16.5 2 UniCredit 1,502 5 13.0 3 JPMorgan 1,493 6 12.9 4 Barclays 980 4 8.5 5 HSBC 973 4 8.4 6 Société Générale CIB 771 4 6.7 7 Goldman Sachs 647 3 5.6 8 Raiffeisen Bank International AG 513 2 4.4 9 ING 499 2 4.3

10 Natixis 492 2 4.3 Total 11,546 11 100.0


• In the first half of 2016, UniCredit ranked #3 in the Sovereign, Sub-sovereign and Agencies (SSA) EUR league table by volume; UniCredit ranked #1 by number of transactions (75 offerings), outperforming peers like Barclays and HSBC

• UniCredit ranked #2 Debt Capital Markets House for CEE – EMEA SSA denominated in EUR in H1 2016

• Significant transactions with focus on CEE included EUR sovereign bond offerings for Poland and Bulgaria

• Post UK’s EU referendum, the sub-sovereign and agencies showed good momentum: Only five days after the referendum, the market was reopened by Hessen’s tap of one of its Bonds as of the beginning of June – being the first EUR Benchmark post-Brexit vote. From 24 June until the end of July, in total 13 German Laender offerings (EUR 6.7 bn) came to the market – of which UniCredit successfully bookrun 9 (EUR 4.4 bn)


Significant Public Sector Bonds

13

• KfW confirmed its strong commitment to the green bond market by launching its first EUR green bond in 2016

• UniCredit has been awarded as Joint Lead Manager due to its pronounced set up in the green bond universe and its distinguished footprint as a sustainable bank

KFW

EUR 1,000,000,000 Green Bond

0.050% due 2024 Joint Bookrunner

Germany, May 2016

European Investment Bank

EUR 5,000,000,000 EARN


Luxembourg, Jan 2016

• EIB’s first benchmark appearance in 2016 • The final order book closed in excess of

EUR 6 bn

Republic of Bulgaria

EUR 1,144,000,000 EUR 850,000,000 Government Bond 1.875%/3.000% due 2023/2028 Joint Bookrunner

Bulgaria, Mar 2016

• This deal is the 2nd multi tranche transaction for the Republic of Bulgaria after the successful triple tranche transaction in March 2015

• More than 350 investors participated across the two tranches, for combined order books of EUR 3.6 bn

• Debut 20-year BTP benchmark line • Paving the way for new benchmark lines:

Following the introduction of the first 7-year the second consecutive mandate for UniCredit

• UniCredit confirmed its role acting as key financial advisor to the Italian DMO

Republic of Italy

EUR 6,500,000,000 BTP

2.250% due 2036 Joint Bookrunner Italy, Apr 2016

Republic of Poland

EUR 1,000,000,000 EUR 750,000,000 Government Bond 1.500%/2.375% due 2026/2036 Joint Bookrunner Poland, Jan 2016

• The Republic of Poland was the first issuer out of the CEE universe tapping the EUR market in 2016

• The transaction contained of a 10-year and 20-year dual tranche, the latter being the longest EUR benchmark offering of the Republic of Poland

North Rhine-Westphalia

EUR 1,585,000,000 Landesschatz-

anweisung 0.125% due 2023 Joint Bookrunner

Germany, Mar 2016

• NRW issued its 2nd sustainability bond; the proceeds will be used for social and environmental purposes

• Books were in excess of EUR 3.3 bn backed by102 single orders; final volume equals the overall eligible project volume

• 39% of the bond was placed with SRI and ESG accounts


Further Selection of Public Sector Bonds

14

European Investment Bank

EUR 500,000,000 Climate Awareness

Bond 0.500% due 2023 Joint Bookrunner

Luxembourg, Jan 2016

FMS

EUR 1,000,000,000 Senior Bond

0.000% TAP due 2019

Joint Bookrunner Germany, Jan 2016

EFSF


0.100% due 2021

Joint Bookrunner Luxembourg, Jan 2016

NRW.BANK

EUR 750,000,000 Senior Bond

0.125% due 2021


Berlin

EUR 500,000,000 Landesschatz-

anweisung FRN due 2023


Baden-Württemberg


anweisung 0.625% due 2026 Joint Bookrunner

Germany, Jan 2016

Rentenbank


0.375% due 2026

Joint Bookrunner Germany, Mar 2016

Rhineland-Palatinate


anweisung 0.000% due 2019 Sole Bookrunner

Germany, Mar 2016

Schleswig-Holstein


anweisung FRN due 2022

Joint Bookrunner Germany, Feb 2016

Hamburg


FRN due 2020


Romania

EUR 750,000,000 EUR 500,000,000 Government Bond 2.750%/3.875%

TAP due 2025/ 2035 Joint Bookrunner

Romania, Feb 2016

Republic of Poland

EUR 750,000,000 Government Bond

2.375% TAP due 2036

Joint Bookrunner Poland, Apr 2016

European Union


0.625% TAP due 2023

Joint Bookrunner Luxembourg, Apr 2016

Republic of Italy

EUR 8,014,370,000 Government Bond 0.400% due 2024

Joint Bookrunner Italy, Apr 2016

L-Bank


0.375% due 2026

Joint Bookrunner Germany, Apr 2016

BNG Bank


0.250% due 2024

Joint Bookrunner Netherlands, May 2016

Erste Abwicklungsanstalt



Germany, May 2016

Hessen

EUR 875,000,000 Landesschatzanweisung 0.375% Tap due 2026

Joint Bookrunner

Germany, June 2016


Gaining ground in Corporate Bonds

15

• In an increasingly competitive market environment UniCredit further increased its market share climbing up 5 places in the EMEA Corporate Bonds league table within 12 months, ranking #4 in H1 2016. UniCredit reaffirmed its leading position in Italy, Germany and Austria holding the #1 position

• Despite a modest start at the beginning of 2016 we saw a strong appetite for jumbo trades (e.g. Deutsche Telekom’s EUR 4.5 bn triple tranche, Daimler’s three triple tranche offerings, each EUR 3 bn+ as well as ABInBev’s EUR 13.25 bn blockbuster trade)

• In High Yield Corporate Bonds in EMEA we confirmed our #6 position for H1 2016 (improving to #4 after eight months)

• Post Brexit vote, UniCredit was involved in 5 out of 7 high-yield transactions proving UniCredit’s ability to deliver also in a challenging market environment; particularly noteworthy: The first high yield bond and the first BB rated deal – Salini Impregilo – and Sisal, the first Single B rated transaction in the market

• For the first time ever, UniCredit entered the TOP 10 league table for US corporates issuing in EUR (#9)

All EMEA Corporate Bonds – H1 2016

Pos Bookrunner Deal Value (EUR mn) No. Share % 1 BNP Paribas 10,881 63 7.9 2 Société Générale CIB 9,843 64 7.2 3 Deutsche Bank 9,800 41 7.1 4 UniCredit 7,812 35 5.7 5 Citi 7,035 35 5.1 6 HSBC 6,831 42 5.0 7 Barclays 6,706 27 4.9 8 ING 6,481 33 4.7 9 Crédit Agricole CIB 6,168 38 4.5

10 Santander 6,060 28 4.4 Total 137,520 220 100.0


All German Corporate Bonds – H1 2016

Pos Bookrunner Deal Value (EUR mn) No. Share % 1 UniCredit 3,567 8 11.2 2 BNP Paribas 3,095 10 9.7 3 Deutsche Bank 2,299 11 7.2 4 Société Générale CIB 2,271 9 7.1 5 Commerzbank Group 2,108 10 6.6 6 Barclays 1,824 3 5.7 7 HSBC 1,682 6 5.3 8 Crédit Agricole CIB 1,584 5 5.0 9 ING 1,238 5 3.9

10 Citi 1,229 8 3.9 Total 31,892 42 100.0



Significant Corporate Bonds

16

• Third EUR triple tranche offering of Daimler in a row

• Transaction comprised longest EUR tenor ever offered by Daimler in benchmark format

• Top quality orderbook with strong demand in the 12 years tranche

Daimler

EUR 3,250,000,000 3-Tranche Senior Bond

due 2020 - 2028 A3/A-/A-

Joint Lead Manager Germany, May 2016

• 7 outstanding bonds were exchanged into a mix of new notes and a cash

• Avg. success rate of 15% (excellent outcome; 5 bonds were tendered already in 2015 exercise

Enel

EUR 6,532,026,000 Exchange

EUR 1,073,967,000 7x Senior Bonds

Jt. Dealer Manager Italy, May 2016

• After debuting in 2014 in the EUR space this trade marks the second appearance of Orlen in EUR

• Final books contained more than 2.1 times oversubscription

• Highest share of orders coming from German/Austrian accounts (29%)

PKN Orlen

EUR 750,000,000 2.500% Senior Bond

due 2023 Baa3/BBB-

Joint Bookrunner Poland, June 2016

• Transaction executed in 3 steps: Original Tranche for EUR 300 mn, Exchange Offer for EUR 128 mn and Tap for EUR 172 mn

• Strong combined book (EUR 1 bn) • UniCredit also acted as Sole

Documentation Manager

Salini Impregilo SpA

EUR 600,000,000 o/w EUR 300 mn New Bond,

EUR 172 mn Tap Exc Off & New Bond & Tap

3.750% due 2021 Joint Bookrunner Italy, Jun 2016

• First hybrid offering 2016 for an investment grade rated corporate

Total

EUR 1,750,000,000 Hybrid Bond

3.875% PerpNC6 A2/A-

Joint Bookrunner France, May 2016

• Dual-tranche format to maximize size/tenor and minimize spread

• Strong combined book (EUR 4.5 bn) and excellent granularity (450+ orders)

Eni


due 2022 & 2028 Joint Bookrunner Italy, May 2016


Significant Corporate Bonds

17

• Following their divestment of the electricity division, Alstom decided to use available cash on balance to buy back parts of the notes

• Within a very volatile market, Alstom achieved a precise landing at exactly EUR 500 mn nominal tendered across the priority notes

Alstom

EUR 2,850,000,000 Tender

5x Senior Bond

Joint Dealer Manager France, Feb 2016

• Tremendous demand: Literally all important top European institutional investors participated – providing broad diversification

• Strong demand enabled aggressive pricing approach and low single digit new issue concessions

McDonald’s


due 2021, 2023 & 2028 Issue Rating Baa1/BBB+

Joint Bookrunner USA, Apr 2016

• Sappi took advantage of the stabilised markets after the ECB announcement on 10 March

• Strong investor demand reflecting into a book cover ratio of 3.5 times

Sappi

EUR 350,000,000 4.000%

Snr. Sec.Notes

Joint Bookrunner South Africa, Mar 2016

• Despite the overall size of the transaction (largest German corporate bond since 2002) the deal could be priced very close or even through the curve

• Orderbook was substantially oversubscribed, especially for the 12 year tranche

Deutsche Telekom


due 2021, 2023 & 2028 Issue Rating Baa1/BBB+


• After 6 year absence in the EUR market MOL reentered successfully the arena

• Orderbook was significantly oversubscribed recording EUR 2.4 bn across ca. 250 single investors

• Bulk of demand stemming from German/Austrian accounts (33%)

MOL Hungarian Oil and Gas PLC


2.625% due 2023 Issue Rating BBB-/BB

Joint Bookrunner Hungary, Apr 2016

• Largest EUR corporate bond offering ever • Largest 12-year and 20-year corporate trades

to date • Significant investor demand • reflected in a combined order book of

EUR 31 bn

AB InBev


due 2020 - 2036 Issue Rating A2/A- Joint Bookrunner

Belgium, Mar 2016


Further Selection of Corporate Bonds

18

BMW


due 2020 & 2024 Issue Rating A2/A+ Joint Bookrunner

Germany, Apr 2016

CNH Industrial


2.875% due 2023 Ba2/BB+

Joint Bookrunner UK, May 2016

Abertis

EUR 1,150,000,000 Senior Unsecured

1.375 % due 2026 BBB/BBB+

Joint Bookrunner Spain, May 2016

Airbus

EUR 1,500,000,000 Dual Tranche Senior

Bond due 2026 & 2031

A2/A Joint Bookrunner

Germany, May 2016

RCI Banque

EUR 750,000,000 Senior Unsecured 0.375% due 2019

Issue Rating Baa1/BBB Joint Bookrunner

France, May 2016

Vonovia


due 2022 & 2026 BBB+

Joint Bookrunner Germany, June 2016

CAV

EUR 830,000,000 Project Bond

2.115% due 2030

Joint Bookrunner Italy, Apr 2016

IGD SiiQ


2.500% due 2021

Joint Bookrunner Italy, May 2016

Grandi Navi Veloci

EUR 75,000,000 Second Lien Notes

due 2022

Placement Agent Italy, May 2016

CCEP


due 2017 - 2028 Issue Rating A3/BBB+

Joint Bookrunner USA, May 2016

Ferrovie dello Stato Italiane


FRN due 2022 Sole Bookrunner Italy, June 2016

TeamSystem

EUR 450,000,000 E+6.250% Snr. Sec.

Notes due 2022


ASF


1.000% due 2026 Issue Rating Baa1/A-


Suez Environnement


due May 2028 Issue Rating A3/NR


alstria office REIT-AG


2.125% due 2023 Issue Rating BBB Joint Bookrunner

Germany, Apr 2016

Adient Global Holdings Ltd.


3.500% due 2024 Joint Bookrunner USA, Aug 2016

ADIENT

Lecta SA

EUR 600,000,000 2-Tranche Sen. Secured

6.500% Fixed Rate Notes and E+6.375% Floating Rate Notes

due 2023/2022 Joint Bookrunner Italy, July 2016

Salini Gamenet Group SpA

EUR 200,000,000 6.000% Senior Secured

Fixed Rate Notes B1/B

Joint Bookrunner Italy, July 2016


Further Selection of Corporate Bonds

19

CA Immo AG


2.750% due 2023 Baa2

Joint Bookrunner Austria, Feb 2016

Telecom Italia


3.625% due to 2024 Ba1/BB+/BBB-

Joint Bookrunner Italy, Jan 2016

FCA


3.750% due to 2024 B1/BB/BB-

Joint Bookrunner Italy, Mar 2016

FCA Bank


1.250% due to 2020 Baa2/BB+/BBB


IBM


due 2021, 2024 & 2028 Issue Rating Aa3/AA-

Joint Bookrunner USA, Feb 2016

UTC


due 2018, 2021 & 2026 Issue Rating A3/A- Joint Lead Manager

USA, Feb 2016

Roche


0.500% due 2023 A1/AA

Joint Bookrunner Switzerland, Feb 2016

BASF

EUR 300,000,000 Senior Bond Tap

due Feb 2021 Issue Rating A1/A Joint Bookrunner

Germany, Mar 2016

Unibail-Rodamco


1.375% due 2026 Issue Rating A

Joint Bookrunner France, Mar 2016

AB InBev

USD 46,000,000,000 7-Tranche Senior Bond

due 2019 - 2046 Issue Rating A2/A- Joint Bookrunner

Belgium, Jan 2016

Onorato Armatori

EUR 300,000,000 Senior Secured

7.750% due to 2023 Ba2/BB-

Joint Bookrunner, Security Agent Italy, Feb 2016

Ferrari


1.500% due to 2023


Ferrari

Ansaldo Energia

EUR 70,000,000 TAP - Senior Bond

2.875% due to 2020

Sole Dealer Italy, Apr 2016

Southern Gas Corridor

USD 1,000,000,000 6.875% Senior

Unsecured Notes due 2026

Azerbaijan, Mar 2016

Ford/FCE Bank


due 2018 & 2021 Issue Rating Baa3/BBB

Joint Bookrunner USA, Feb 2016

FORD

Kering


1.250% due 2026 NR/BBB

Joint Bookrunner France, Apr 2016

Globalports

USD 350,000,000 6.872% Senior Notes

due 2022

Joint Bookrunner Apr 2016

Mondi


1.500% due April 2024 Issue Rating Baa2/BBB

Joint Bookrunner Apr 2016


Confirming historical leadership in Financial Institutions

20

• Among the bookrunners for EUR Denominated Covered Bonds in EMEA in H1 2016, UniCredit ranked #3 by volume and #1 by number of transactions

• Overall market increased yoy by 44% (from EUR 59 bn in H1 2015 to EUR 85.2 bn in H1 2016); market-wise, France (nearly EUR 20 bn, +81%) and Germany (over EUR 17 bn, +24%) have the highest shares, followed by Spain (nearly EUR 10 bn or +47%)

EMEA Covered Bonds EUR-Den. Bonds – H1 2016

Pos Bookrunner Deal Value (EUR mn) No. Share % 1 Crédit Agricole CIB 6,232 32 7.3 2 Landesbank Baden-Wuerttemberg 6,203 39 7.3 3 UniCredit 5,273 46 6.2 4 Commerzbank Group 5,216 35 6.1 5 BNP Paribas 5,131 27 6.0 6 Natixis 4,605 27 5.4 7 Société Générale CIB 4,235 23 5.0 8 UBS 3,953 18 4.6 9 Barclays 3,673 18 4.3

10 Deutsche Bank 3,666 20 4.3 Total 85,241 160 100.0

Period: 1 Jan – 30 June 2016 Source: Dealogic, 10 July 2016


Significant Financial Institution Bonds

21

• DEUTSCHE/HYPO very successfully placed its 2nd Pfandbrief in 2016

• Granular order-book with more than 70 accounts, totalling to EUR 1.4 bn.

• Little spread sensitivity led to a final pricing at MS -1 bps following an earlier MS +2 bps guidance

Deutsche Hypo

EUR 750,000,000 Hypothekenpfandbrief

0.250% due 2024

Joint Bookrunner Germany, May 2016

• CFF’s 3rd launch of a EUR Covered Bond in 2016 YTD

• Limited target size granted a swift book-building process with an almost two times subscribed order volume

• The final spread was fixed at the tight end of the earlier guidance at MS +9 bps

CFF

EUR 1.000,000,000 Obligation Foncières 0.500% due 2024

Joint Bookrunner France, Apr 2016

• Inaugural EUR Covered Bond transaction after a well-timed deal preparation via a 4-day European roadshow

• Sensible issuer approach regarding investors’ maturity preferences ahead of the UK-referendum

Leeds Building Society

EUR 500,000,000 UK Covered Bond 0.125% due 2020

Joint Bookrunner

UK, Apr 2016

• Debut 5Y Benchmark Covered Bond after detailed investor work reaching beyond emerging markets investors

• The first ever publically syndicated international mortgage backed covered bond from Turkey

• Due to a 5.4x oversubscribed orderbook the final spread was set close to a theoretical sovereign benchmark

VakifBank

EUR 500,000,000 Turkish Covered Bond

2.375% due 2021

Joint Bookrunner Turkey, Apr 2016

• The deal testified the appetite for Italian secured paper with a 1.7x book coverage ratio

• 95% of distribution was allocated to foreign investors

• First UniCredit’s ABS mandate for Agos Ducato

Agos Ducato

EUR 1,242,000,000 Sunrise Srl Series 2016-1

Consumer ABS Joint Lead Manager

Italy, June 2016

• First transaction since November 2015 with the aim at continuing the refinancing policy begun last year

• 3/4 of the allocations went to real money accounts

• With this deal UniCredit strengthened its role in advising insurances to sail in the International Capital Markets

Assicurazioni Generali

EUR 850,000,000 5.000%

32-NC-12 Senior Dated Subordinated

Joint Bookrunner Italy, June 2016


Significant Financial Institution Bonds

22

• 2nd ever Basel III compliant T2 bond offering from the Turkish conventional banking sector

• Despite choppy markets the deal was solidly oversubscribed with investor demand strongly driven by UK and US funds as well as European banks

Yapı Kredi

USD 500,000,000 Basel 3 compliant

Tier 2 Notes 8.500% due 2026 Joint Bookrunner Turkey, Mar 2016

• The Subordinated Issue, eligible as Tier 2 capital under Solvency II, is the only EUR insurance hybrid in 2016 so far

• The transaction represents the largest deal in the insurance space since March 2015

• Proceeds will be used by the Issuer to refinance part of its outstanding debt

AXA SA

EUR 1,500,000,000 31.25NC11.25 Tier 2 Notes

3.375% due 2047 Joint Bookrunner France, Mar 2016

• Larges Pfandbrief since 2011 • The success of this deal is based on the

issuer’s and syndicate group’s sensible approach of finding a matching issuance window

• Even a zero percent coupon couldn’t hinder the outstanding result

Helaba

EUR 1,250,000,000 Hypothekenpfandbrief

0.000% due 2020


• Investor friendly, smooth intraday execution

• Issuer exceeded its targeted deal size resulting in the first “jumbo-sized” deal for AIB since June 2007

• Substantial tightening in spread terms from initial price talks to final result

Allied Irish Bank

EUR 1,000,000,000 Irish Covered Bond 0.875% due 2023 Joint Bookrunner Ireland, Jan 2016

• Caffil was one of the reopener of the Covered Bond market in 2016

• The deal marks the first covered bond dual tranche benchmark since March 2015

• Very successful intraday execution amidst global financial volatility

CAFFIL

EUR 1,000,000,000 0.500% due 2022 EUR 500,000,000 1.500% due 2031

Obligation Foncière Joint Bookrunner France, Jan 2016

• First public leasing ABS deal in 2016 issued by Banca MPS

• Investors’ positive feedback and interests allowed orderbook to be 1.5x oversubscribed

• UniCredit acted as joint Bookrunner

Banca MPS

EUR 1,620,000,000 Siena Lease 16-2 Srl

Lease ABS Joint Lead Manager/

Joint Bookrunner Italy, Jan 2016


Further Selection of Financial Institution Bonds

23

Münchener Hyp


0.500% due 2026

Joint Bookrunner Germany, Apr 2016

Goldman Sachs

EUR 2,000,000,000 Senior Unsecured

FRN due 2021

Joint Lead Manager USA, July 2016

AIG


Joint Bookrunner

Germany, June 2016

Berlin Hyp


0.000% due 2019


BP Sondrio

EUR 500,000,000 Covered Bond

0.750% due 2023


Sparebanken Sør Boligkreditt

EUR 500,000,000 Norwegian Covered Bond


Norway, Mar 2016

UBS

USD 1,500,000,000 Additional T1 Notes 6.875% Perp NC5

Joint Lead Manager

Switzerland, Mar 2016

UniCredit SpA

EUR 750,000,000 Tier 2 Notes

4.375% due 2027


Crédit Agricole

EUR 1,500,000,000 Senior Unsecured 1.250% due 2026

Joint Lead Manager France, Apr 2016

ING

EUR 1,000,000,000 Tier 2 Notes

3.000% due 2028

Joint Lead Manager Netherlands, Apr 2016

CAFFIL

EUR 1.000,000,000 Obligation Foncières

0.375% due 2025

Joint Bookrunner France, June 2016

Dexia Kommunalbank

EUR 500,000,000 Öffentlicher Pfandbrief

0.050% due 2021

Joint Bookrunner Germany, June 2016

Bank of America


Joint Lead Manager

USA, July 2016

UniCredit

EUR 750,000,000 Tier 2

4.375% 10.5NC5.5Y

Joint Bookrunner Italy, June 2016

BRFkredit

EUR 500,000,000 Danish Covered Bond

0.250% due 2021

Joint Bookrunner Denmark, Mar 2016

SEB

EUR 1,500,000,000 Swedish Covered Bond


Sweden, Feb 2016

DNB Boligkreditt AS

EUR 1,500,000,000 Norwegian

Covered Bond 0.250% due 2026 Joint Bookrunner

Norway, Aug 2016

SpareBank 1 Boligkreditt

EUR 1,000,000,000 Norwegian

Covered Bond 0.250% due 2026 Joint Bookrunner

Norway, Aug 2016


Further Selection of Financial Institution Bonds

24

LBBW


0.050% due 2020


ABN Amro

EUR 1.250,000,000 Dutch Covered Bond

0.875% due 2026 Joint Bookrunner The Netherlands,

Jan 2016

Lloyds Bank

EUR 1,500,000,000 UK Covered Bond 0.375% due 2021

Joint Bookrunner

UK, Jan 2016

SR-Boligkreditt

EUR 500,000,000 Norwegian Covered

Bond 0.750% due 2023 Joint Bookrunner Norway, Jan 2016

WL Bank


0.750% due 2026


Deutsche Pfandbriefbank

EUR 500,000,000 Senior Unsecured 1.250% due 2019 Joint Bookrunner

Germany, Jan 2016

Mediobanca


NR/BBB-/BBB+ Joint Bookrunner Italy, Jan 2016

Deutsche Pfandbriefbank



Germany, Feb 2016

Deutsche Apotheker- und Ärztebank


0.150% due 2023


Berlin Hyp


0.250% due 2023


BAWAG

EUR 500,000,000 Fundierte Bankschuld-

verschreibung 0.375% due 2022 Joint Bookrunner Austria, Feb 2016

NRW.Bank


0.125% due 2021


Société Générale SFH

EUR 750,000,000 Obligations de

Financement à l’Habitat 0.500% due 2023 Joint Bookrunner France, Jan 2016

L-Bank


0.050% due 2021


HypoVereinsbank

EUR 1,000,000,000 Hypothekenpfandbrief

0.125% due 2022


UniCredit SpA


Joint Bookrunner Italy, Feb 2016

Swedbank

EUR 1,250,000,000 Swedish Covered Bond


Sweden, Feb 2016

Abbey National

EUR 1,000,000,000 UK Covered Bond 0.250% due 2021

Joint Bookrunner

UK, Feb 2016


Agenda

• Loans





• Project Finance



25

26

• The first half year of 2016 saw EMEA ECM volume down ca. 40% yoy to EUR 86 bn due to a series of negative economic shocks that have spread over EU zone and culminated with the Brexit vote on 23 June

• ECM activity in the first part of the year was driven by refinancing purposes, financial sponsor exits, and M&A financing

• ABBs accounted for ca. 40% of total volume, followed by Rights Issues (20%), IPOs (18%), EQL transactions (16%) and SPOs (6%)

• Top 5 countries (UK, ES, DE, FR, IT) accounted for over 60% of total issuance

• UniCredit wrapped up H1 2016 activity with 9 ECM transactions in EMEA across all products and re-opened the EMEA ECM market with 4 ABBs out of 9 in the first 3 weeks post Brexit referendum

• Beyond the #2 position in the Italian market by volume and no. of deals, UniCredit remains a leading ECM bookrunner in Poland (#7) and in Germany (#10) in H1 2016

All Italian ECM Transactions – H1 2016

Pos Bookrunner Deal Value (EUR mn) No. Share % 1 Mediobanca 1,166 6 18.8 2 UniCredit 843 6 13.6 3 Intesa Sanpaolo SpA 620 5 10.0 4 JPMorgan 608 3 9.8 4 Goldman Sachs 608 3 9.8 6 Citi 588 3 9.5 7 Deutsche Bank 545 2 8.8 8 Bank of America Merrill Lynch 498 1 8.0 9 Morgan Stanley 279 2 4.5

10 HSBC 134 1 2.2 10 BNP Paribas 134 1 2.2

Total 6,198 20 100.0 Period: 1 Jan – 30 June 2016; Source: Dealogic Analytics, per 1 July 2016

Leading positions in core markets despite unfavourable market conditions

Equity Capital Markets

Significant Equity Capital Markets Transactions

27

• The deal was the only executed EU ABB that day, notwithstanding high volatility in the market triggered by US disappointing non-farm payroll data and investors’ nervousness related to BREXIT

• The stock opened and traded above the offer price in the day after launch as a confirmation of a flawless execution

IMA

EUR 92,750,000 Primary ABB

Sole Bookrunner Italy, June 2016

ENAV

EUR 759,000,000 IPO


• Air navigation service provider ENAV priced the largest Italian IPO of 2016, raising EUR 759 mn for the Italian government

• Huge investors demand with institutional offering ca. 8x and retail tranche ca. 2.4x oversubscribed

• The ENAV IPO marked the first and only sizeable IPO post Brexit and the third Italian privatisation bookrun by UniCredit since 2015

• Rapid bookbuilding process, covered throughout the range in less than 2 hours

• Transaction priced at the most aggressive end of the range, with the book multiple times covered

• Proceeds to be used for the repayment of the outstanding bonds due June 2017 and to fund the group’s investments over the next years

MTU Aero Engines

EUR 500,000,000 Convertible Bond

Joint Bookrunner

Germany, May 2016

• Rights issue successfully completed under difficult market scenario with stock down 80% since the announcement and sector index down 12%

• Rights issue was part of a complex restructuring plan with the aim to strengthen the company’s balance sheet and re-position Prelios as “pure management company”

Prelios

EUR 66,500,000 Rights Issue

Global Coordinator

Italy, Mar 2016

• The ABB was executed concurrent to three other European accelerated transactions with elevated volatility on the Italian market on the back of banking sector woes

• UniCredit acted as Sole Bookrunner after winning a competitive bidding process

• UniCredit also acted as a Joint Global Coordinator in OVS IPO in 2015

OVS S.p.A.

EUR 129,000,000 ABB

Sole Bookrunner Italy, Apr 2016

• The largest industrial rights issue in Italy since June 2009

• Transaction successfully executed under difficult market conditions with stock down 53% since the announcement and oil prices at minimum level since 2003

• Rights issue allowed Saipem to reduce its financial debt and achieve financial independence from ENI

Saipem

EUR 3,500,000,000 Rights Issue

Joint Bookrunner Italy, Feb 2016


Further Equity Capital Markets Transactions

28

Fineco

EUR 327,674,932 ABB


CoimaRes

EUR 215,000,000 IPO


ArcelorMittal

EUR 2,777,173,368 Rights Issue

Co-Lead Manager France, Apr 2016

X-Trade Brokers

EUR 43,082,456 IPO

Joint Bookrunner Poland, Apr 2016

Saipem

EUR 273,000,000 ABB


Bank Pekao

EUR 748,361,648 ABB

Joint Bookrunner Poland, July 2016

Stabilus

EUR 159,000,000 Primary ABB

Joint Global Coordinator

Germany, July 2016

Hera

EUR 36,869,462 ABB

Sole Bookrunner Italy, July 2016

Further Transactions in addition to ENAV IPO

which where priced successfully shortly after

Brexit vote


Agenda

• Loans





• Project Finance



29

Partner of Choice for private equity sponsors

30

• UniCredit delivers 360° corporate and investment banking to private equity funds and their portfolio companies via our Financial Sponsor Solutions Group (“FSS”)

• FSS provides lending (incl. LBO financings) and lending-related business, and coordinates the delivery of other UniCredit products and services such as capital markets, loan agency, M&A advisory, hedging and corporate banking

• Highly experienced and fully integrated pan-European team, covering the full value chain from origination through execution and portfolio support and from very large- to medium-sized and smaller transactions

• UniCredit has consistently been a top-3 Bookrunner in leveraged financings for private equity clients in Europe for many years

• In the first half of 2016, we ranked #2 by volume – climbing up 4 places within 12 months – and #1 by number of transactions

Sponsor-driven Acquisition Finance in EMEA – H1 2016

Pos Bookrunner Deal Value (EUR mn) No. Share % 1 BNP Paribas 3,168 29 10.7 2 UniCredit 3,096 29 10.4 3 ING 1,765 15 6.0 4 Deutsche Bank 1,724 13 5.8 5 HSBC 1,576 14 5.3 6 JPMorgan 1,426 8 4.8 7 Credit Suisse 1,421 12 4.8 8 Société Générale CIB 1,341 16 4.5 9 Natixis 1,324 14 4.5

10 Crédit Agricole CIB 1,233 17 4.2 Total 29,670 90 100.0


Financial Sponsor Solutions

Significant Financial Sponsor Solutions Transactions

31

• Underwriter, MLA and Agent • UniCredit as left lead bank facilitated this

deal with a 100% underwriting delivered in a very short time frame

Limacorporate

EUR 321,000,000 Senior Loan Facilities

EQT Partners Bookrunner, MLA &

Agent Italy, Apr 2016

• UniCredit acted as sole Bookrunner, MLA and Agent on the financing, as well as Sole Financial Advisor

• 360° support to Bridgepoint to strengthen UniCredit’s position as house bank of Smyk Group in Poland and Germany

Smyk

Undisclosed Senior Loan Facilities

Bridgepoint/ Cornerstone

Sole Bookrunner & MLA Poland, June 2016

• The facilities support the acquisition of Artsana Group by Investindustrial

• Largest LBO loan deal seen in the Italian LBO market post credit crunch

• True deal-enabler acting as Sole Global Coordinator, Bookrunner, Agent and M&A Advisor

Artsana


Investindustrial GloCo, Bookrunner,

MLA & Agent Italy, June 2016

• UniCredit supported Bridgepoint and Summit Partners in the primary buy out of Calypso as Bookrunner, MLA and Agent

• Calypso is headquartered in the US and is a world leading capital markets software developer

• Syndication was highly successful

Calypso Technology

USD 425,000,000 Senior Loan Facilities Bridgepoint/Summit

Bookrunner, MLA & Agent

US, June 2016

• Most aggressive senior leverage seen in the Italian LBO market post credit crunch (5.3x)

• UniCredit helped CVC to secure the deal providing one-stop-shop solution (as Global Coordinator, Physical Bookrunner, Agent and M&A Advisor)

Doc Generici

EUR 375,000,000 Senior Facilities

CVC Capital Partners GloCo, Bookrunner,

MLA & Agent Italy, May 2016

• Underwriter, MLA and Agent supporting the pre-emptive acquisition of d&b audiotechnik by Ardian

• UniCredit facilitated the deal by delivering a fully credit-approved commitment for a 100% underwriting (incl. Second Lien) already at the first round bid date

d&b audiotechnik

Undisclosed Amount Sen. & Sec. Lien Fac.

Ardian Bookrunner, MLA &

Agent Germany, Feb 2016


Further Financial Sponsor Solutions Transactions

32

Agrifarma


Permira Bookrunner, MLA &

Agent Italy, May 2016

Engineering Ingegneria Informatica

EUR 517,600,000 Senior Facilities Apax Parters/

NB Renaissance Bookrunner & MLA

Italy, Apr 2016

Hennecke


Capvis

MLA Germany, May 2016

Calucem


Ambienta Sole Bookrunner, MLA, Agent & Buy-side M&A

Croatia, Apr 2016

Tipico


CVC GloCo, Bookrunner,

MLA & Agent Malta, May 2016

SGG


Astorg

MLA Luxembourg, Feb 2016

Italmatch

EUR 81,000,000 Add-on Facilities

Ardian Bookrunner, MLA &

Agent Italy, June 2016

TeamSystem

EUR 65,000,000 Super Senior RCF

Hellman & Friedman MLA & Agent

Italy, May 2016

Schenck Process


IK

Bookrunner & MLA Germany, May 2016

Digitex


Carlyle Bookrunner, MLA &

Agent Italy, Apr 2016

Ceske Radiokomunikace

CZK 4,049,000,000 Senior Loan Facilities

Macquarie Bookrunner & MLA

Czech Rep, Mar 2016

Comdata


Carlyle

Bookrunner & Agent Italy, Mar 2016

Phoenix International


Chequers Partenaires Sole Bookrunner, MLA, Agent & Buy-side M&A

Italy, Feb 2016

F2A


Ardian

Sole Bookrunner & MLA Italy, Feb 2016

Medi-Globe


DukeStreet Sole Bookrunner, MLA &

Agent Germany, Feb 2016

ADB Airfield Solutions/ Safegate International


PAI Partners

Bookrunner & MLA Belgium, Feb 2016

Compagnia Generale Ristorazione S.p.A.


BC Partners GloCo, Bookrunner,

MLA & Agent Italy, Jan 2016

Bite


Providence Bookrunner & MLA Lithuania, Jan 2016


Agenda

• Loans





• Project Finance



33

A Growing Role in Key European Countries

34 1CEE includes Albania, Bosnia-Herzegovina, Bulgaria, Croatia, Czech Republic, Hungary, Macedonia, Montenegro, Poland , Romania, Russia, Serbia, Slovakia, Slovenia, Turkey, Ukraine

Financial Advisors to Italian M&A by No. of Deals – H1 2016

Pos Financial Advisors Deal Value (EUR mn) No. 1 KPMG 1,136 26 2 UniCredit 7,078 22 3 Mediobanca S.p.A. 9,368 13 4 Rothschild 5,999 12 5 Banca IMI/Intesa Sanpaolo 4,041 12 6 PwC 972 11 7 EY 501 10 8 Fineurop Soditic 440 9 9 Lazard 8,217 7

10 Vitale & Co. Spa 1,857 7 Period: 1 Jan – 30 June 2016; Source: Mergermarket, per 6 July 2016

• Despite a 16% decrease in total announced M&A deal value in the first half of 2016 for EMEA, UniCredit consistently increased its visibility as M&A advisor across core geographies

• Our Deal activity was especially high YTD in Italy, while CEE saw solid activity across countries and segments and in Germany the mid-market has remained key focus area

• This is evidenced by 2016 transactions such as our roles as financial advisor to InvestIndustrial on the acquisition of 60% stake in Artsana S.p.A., to Bilfinger on the disposal of Bilfinger MCE to Austrian construction company Habau and also to Ambienta on the acquisition of Calucem, where UniCredit also provided debt financing

• Overall, UniCredit advised on 38 M&A transactions in EMEA in H1 2016, some of them not disclosable, with the following distribution per geography • Italy: 22 • CEE1: 10 • Germany: 5 • Austria: 1

Financial Advisors to CEE1 M&A by No. of Deals – H1 2016

Pos Financial Advisors Deal Value (EUR mn) No. 1 EY 208 12 2 Rothschild 1,735 11 3 UniCredit 860 10 4 PwC 244 10 5 KPMG 577 9 6 Deloitte 226 9 7 Trigon Group 619 5 8 JPMorgan 720 4 9 Pragma Corporate Finance 54 4

10 Goldman Sachs 963 3 Period: 1 Jan – 30 June 2016; Source: Mergermarket, per 28 July 2016

Corporate Finance Advisory

Significant M&A Transactions – Italy

• Advisor to RCS MediaGroup S.p.A. (Italy-based media company engaged in the publishing and distribution of newspapers, magazines and other print media, radio and television broadcasting and advertising management) in the PTO launched by Cairo Communications S.p.A.

RCS MediaGroup

EUR 970,000,000 Advisor to RCS

MediaGroup S.p.A. in the PTO launced by Cairo

Communications S.p.A. Italy, Apr 2016

• Sole financial advisor to leading global energy player Iberdrola in the disposal of 100% of Italian wind player SER to Glennmont for an equity consideration of EUR 194 mn

• The transaction represents a further step in Iberdrola’s strategy to focus on its core markets

Iberdrola

EUR 416,000,000 Advisor to Iberdrola in

the disposal of SER Group to Glennmont

Italy, June 2016

• Advisor to InvestIndustrial (UK-based PE firm that prefers to invest in companies with turnover between EUR 75 mn and EUR 1 bn in industry sectors) in the acquisition of 60% stake in Artsana S.p.A.

• Artsana is an Italy-based producer of health, cosmetics, beauty and baby care products, with an est. IEV of EUR 2 bn

Artsana

EUR 1,200,000,000 Advisor to

InvestIndustrial in the acquisition of 60% stake in Artsana S.p.A.

Italy, Apr 2016

• Advisor to Permira Ad. LLP (UK-based PE firm that typically invests in sectors of industrials, financial services, TMT, consumer and healthcare) in the acquisition of Agrifarma S.p.A., from Motion Equity Partners

Agrifarma

EUR 340,000,000 Advisor to Permira Ad.

LLP in the acquisition of Agrifarma S.p.A. from

Motion Equity Partners Italy, Apr 2016

• Financial Advisor to Macquarie Infrastructure and Real Assets (MIRA), leading global infrastructure investor, on the acquisition of Italy’s transport system operator SGI, through Macquarie European Infrastructure Fund IV in consortium with Swiss Life AG

• MLA and agent bank in the acquisition financing (incl. hedging and agency services)

Società Gasdotti Italia

Undisclosed Advisor to MIRA and

Swiss Life in the acquisition of S.G.I. from

EISER Infrastructure Italy, May 2016

• Advisor to Edison S.p.A. (an Italy-based energy company) in the contribution in kind of Fenice from Transalpina di Energia, which is an Italy-based joint venture of Delmi SpA and Electricite de France, and distributor and provider of electric power

Edison

EUR 247,000,000 Advisor to Edison in the contribution in kind of

Fenice from Transalpina di Energia

Italy, Feb 2016

35


Significant M&A Transactions – CEE

36

• Advised Virgin Connect on capital raising and M&A for Smile Group, a Russian regional broadband operator

• Seamless coordination of financing and advisory services for one of the key broadband consolidators in Russia

Virgin Connect

Undisclosed Advisor on raising

capital and the acquisition of Smile

Group Russia, May 2016

• Advised Czech EPH in the acquisition of Enel’s 66% stake in Slovenské Elektrárne, the leading Slovakian electricity generation company

• One of the largest cross-border transactions in the region this year

EPH

EUR 750,000,000 Advisor to EPH in the acquisition of Enel’s

66% stake in Slovenské Elektrárne

Slovakia, Jan 2016

• Advised the shareholders of Noriel Group, the leading Romanian toy retailer on the sale of their shares to Enterprise Investors, a Poland-based private equity fund

• Second transaction in the toy retail sector in CEE for UniCredit this year after having advised Bridgepoint on the acquisition of Smyk in Poland

axxess capital

Undisclosed Advisor to the

Shareholders of Noriel on the 100% sale to Enterprise Investors Romania, July 2016

• Advised Umico, a leading Russian vertically integrated meat processing company on the disposal of its pork farming business Tatmeat to Komos

• An example of local sector consolidation in Russia whereby UniCredit assisted the seller in identifying the right strategic partner

Umico

Undisclosed Advisor to Umico on the

sale of 100% in TatmeatAgro to Komos

Russia, May 2016

• Advised Milan-based private equity fund Ambienta on the acquisition of Calucem, the #2 global producer of calcium aluminate cement

• One of the largest PE transactions in Croatia ever

Ambienta

Undisclosed Advisor to Ambienta on acquisition of majority

stake in Calucem Group

Croatia, Apr 2016

• Advised leading UAE-based private equity fund Abraaj on the acquisition of a minority stake in Fibabanka of Turkey

• Abraaj is a repeat customer of UniCredit / Yapi Kredi and the transaction evidence of our strength across CEE in financial sponsor transactions

Abraaj

Undisclosed Advisor to Abraaj Group on the acquisition of a

9.95% stake in Fibabanka

Turkey, June 2016


Significant M&A Transactions – Germany & Austria

37

• UniCredit successfully steered agribusiness and food group Bunge through this highly competitive process leveraging on its access to and relationship with seller and target

• The acquisition supports Bunge’s strategy of expanding its oils and fats product offering and will enable Bunge to grow and enhance its B2B business in Western Europe.

Bunge SA

Undisclosed Advisor to Bunge SA on the acquisition of Walter Rau AG (63%) Germany, Apr 2016

• UniCredit successfully supports German Mittelstand as Financial Advisor to the owners of ACU Pharma & Chemie GmbH on the sale of all shares and assets to Brenntag, a global market leader in chemical distribution.

• Complex disposal with mixed share and asset deal to two separate units of Brenntag Group

ACU Group

Undisclosed Advisor to the owner on

the disposal of ACU Group and Delfino

to Brenntag Germany, Feb 2016

• Fully fledged sell-side auction involving numerous bidders, with HABAU identified as best owner

• The transaction supports Bilfinger’s strategic initiative to focus on two core divisions (1. Industrial; 2. Building and Facility) and to review alternative strategic options with regards to identified non-core businesses

Bilfinger SE

Undisclosed Advisor to Bilfinger on

the disposal of Bilfinger MCE to HABAU

Germany/Austria, Mar 2016

• Exclusive M&A advisor to the owner of Polytech on the 100% sale of his company in an MBO transaction to mid-cap PE fund Deutsche Beteiligung AG (DBAG).

• DBAG is investing alongside its advised DBAG Fund VI, both acquiring a majority interest (DBAG 18%; DBAG Fund VI 76%) in the Polytech.

POLYTECH

Undisclosed Advisor to the

shareholders on the sale of POLYTECH

to DBAG Germany, 2016


Agenda

• Loans





• Project Finance



38

39

• UniCredit is one of the leading providers of structuring and arranging services to our clients in the Power, Infrastructure and Transportation sectors

• With our dedicated teams we offer the full value chain, from origination through execution, fundraising, distribution and agency services

• UniCredit is pioneering the cooperation with Institutional and Project Bond Investors in the European Project Finance Market having successfully structured and raised this form of financing for our clients’ projects

• We are committed to applying our knowledge and strong industry expertise to serve our clients’ needs in a changing and challenging market environment

• Project Finance market with 105 transactions down by 9% compared to the first half of 2015 (116 transactions)

Project Finance in EMEA – H1 2016

Pos Mandated Lead Arranger Deal Value (EUR mn) No. Share % 1 Mitsubishi UFJ Financial Group Inc 2,475 22 6.5 2 Sumitomo Mitsui Financial Group Inc 2,020 18 5.3 3 BNP Paribas 1,915 16 5.0 4 Crédit Agricole CIB 1,555 12 4.1 5 Bank of China Ltd 1,464 1 3.9 6 ING 1,275 14 3.4 7 Banco Santander SA 1,248 20 3.3 8 NATIXIS SA 1,192 10 3.1 9 UniCredit 1,159 15 3.1

10 Société Générale CIB 1,047 9 2.8 Total 37,926 105 100.0

Period: 1 Jan – 30 June 2016; Source: Dealogic ProjectWare, per 4 July 2016 UniCredit includes Yapikredi

A Leading Project Finance House

Project Finance

Significant Project Finance Transactions

40

• UniCredit acted as Mandated Lead Arranger on Europort’s amend-and-extend refinancing of its existing group senior debt facilities until July 2020 by way of an infrastructure style debt package. The financing comprises both bank and institutional tranches

• Euroports is one of the largest Europoean port operators with over 25 terminals in Belgium, Germany, France, Spain, Turkey and China. Sponsors of the project are Arcus, Antin, Brookfield

• UniCredit acted MLA, Technical Bank, Insurance Bank and Modelling Bank for a Captive Power Plant Financing in favour of the sponsors Veolia, Neste Oil, Borealis

• The Kilpilahti combined heat and power (CHP) project is a modernisation project and will serve as a captive power producer for Neste and Borealis

• Proposed installed capacities for the project are 450MW of thermal heat and approximately 30MW of electricity

• Road Refinancing in favour of the sponsors Hochtief and Strabag

• UniCredit developed a unique and solid refinancing solution combining commercial banks, institutional investors and EIB (as Senior Lenders) and EIB as Senior Debt Credit Enhancement provider (SDCE – subordinated loan)

• The Project is a brownfield traffic risk infrastructure with revenues based on a shadow toll levied on trucks

• UniCredit acted as Mandated Lead Arranger and Hedge Provider in a Power Plant Upgrade Financing in favour of the sponsor AES Corp.

• With the “B Station Upgrade”, the gas fired AES Ballylumford Power Station in Northern Ireland is now fully compliant with the new Industrial Emissions Directive limits, achieving a threefold reduction in emissions

• UniCredit acted as MLA and Hedging Bank for EUR 180 mn PV Ptf Refinancing which will support the creation of a 90MW utility scale platform . Sponsors are ForVei and Vei Green

• The transactions represents the largest refinancing on a PF basis occurred in Italian PV sector in 2016 YTD

• Rolling Stock Financing in favour of the sponsor Alpha Trains

• Alpha Trains, the leading private rolling stock operating lessor in Europe, significantly increased its passenger trains fleet with the purchase of 89 regional passenger train sets, operated by Transdev subsidiaries under long-term concessions in Germany

• The financing comprises of private placements with institutional investors and bank loans under the financing platform established in 2015

Euroports Holdings

EUR 435,000,000 Senior Facilities Amend & Extend

MLA The Netherlands,

May 2016

Kilpilahti Power Plant

EUR 397,000,000 Project Financing

MLA, Technical Bank, Insurance Bank, Modelling Bank

Finland, Mar 2016

A8 Augusburg-Ulm Refi

EUR 407,200,000 Project Financing Financial Advisor,

Bookrunner, Agent, Hedge Coordinator,

Germany, June 2016

AES Ballylumford

GBP 25,000,000 Senior Debt

Project Financing MLA, Hedge Provider

UK, Apr 2016

FVH1 90 MW PV Ptf

EUR 180,281,000 Project Financing

MLA, Hedging Bank

Italy, Mar 2016

Alpha Trains – Red Motion

EUR 240,000,000 Acquisition Financing

MLA, Hedge Provider

Luxembourg, Mar 2016

Project Finance

Agenda

• Loans





• Project Finance



41

42

• UniCredit is a top ten European commodity finance house offering tailor-made financial solutions for both traders and producers

• We bring with us strong structuring capabilities, ranging from short-term trade finance to producer finance – alongside most of the asset conversion cycle in commodities. Our industry expertise, product know-how and collateral management skills are essential to provide for tailor-made debt solutions (funded and unfunded) striking the balance between client needs and risk management

• Importantly, we provide trade and structured financing solutions to international commodity trading clients. The portfolio includes major trading companies but also specialised names active in energy, metals, steel, raw materials, soft commodities and fertilisers

• In 2016, the market saw generally lower financing activity across the commodity sector, especially on the producer side, due to the low price commodity environment. Commodity traders remained active in the market, successfully rolling their annual RCF where margin pressure remains

Commodity Finance in EMEA – H1 2016

Pos Mandated Lead Arranger Deal Value (EUR mn) No. Share % 1 BNP Paribas 3,684 27 4.9 2 Bank of China 3,644 12 4.9 3 Mitsubishi UFJ Financial Group 3,580 22 4.8 4 ING 3,462 36 4.6 5 Crédit Agricole CIB 3,165 22 4.2 6 HSBC 2,601 28 3.5 7 Société Générale CIB 2,557 23 3.4 8 Sumitomo Mitsui Financial Group 2,552 14 3.4 9 Citi 2,424 15 3.2

10 UniCredit 2,417 21 3.2 Total 74,742 106 100.0


A Leading European Commodity Finance House

Commodity Finance

Significant Commodity Finance Transactions

• The Facility has a tenor of three years with one 12-month extension option and includes an accordion option of USD 150 mn

• Successful syndication with significant oversubscription of more than 50%

• The Facility will be used for the refinancing of the existing 2013 Multicurrency RCF as well as the financing of working capital

Ameropa Group

USD 550,000,000 Borrowing Base

Facility Coordinator, BMLA,

Security Agent Switzerland, July 2016

• The USD 3 bn Revolving Credit Facility is part of the USD 21.5 bn financing for TCO’s USD 42.4 bn expansion and maintenance programme for the Tengiz oil field

• Tengizchevroil LLP was formed by the Republic of Kazakhstan and Chevron Corporation in 1993 to explore and develop super giant Tengiz oilfield

Tengizchevroil

USD 3,000,000,000 Commercial Bank

Facility Bookrunner, MLA

Kazakhstan, July 2016

• Following strong global demand from a range of international banks across six continents, the new RCF was oversubscribed to USD 1 bn and the company scaled it back to USD 800 mn

• Puma Energy is a mid-and downstream oil company, majority-owned by the Dutch Trafigura and the Angolan Sonangol Group

Puma International Financing

USD 800,000,000 Revolving Credit Facility

MLA & Bookrunner

Luxemburg, Apr 2016

• Leading commodity trader Trafigura’s flagship European multi-currency syndicated USD 5.1 bn 1-year and 3-year revolving credit facilities, initially launched at USD 4.275 bn, was substantially oversubscribed

• The facility will be used to refinance the company’s existing facilities of 2015, as well as for general corporate purposes

Trafigura


Active Bookrunner & MLA

Switzerland, Mar 2016

• UniCredit acted in senior roles for the USD 3 bn prepayment facility in favour of Swiss commodity trader Vitol

• Vitol will use the loan to make advance payments to buy oil from Kazakh state-owned oil producer KMG

KazMunaiGas/Vitol

USD 3,000,000,000 Structured Prepayment

Facility Active Bookrunner,

Underwriter, CMLA & Facility Agent

Kazakhstan, Mar 2016

• The USD 1,2bn RCF will be used to refinance the existing short-term revolving facility. It is the largest of 4 existing syndicated facilities of ED&F Man

• ED&F Man is a global specialist trader for sugar, molasses, coffee and provides financial services/brokerage

E D & F MAN


MLA

UK, Mar 2016

43

Commodity Finance

https://upload.wikimedia.org/wikipedia/de/3/3d/Tengizchevroil_Logo.svg

Agenda

• Loans





• Project Finance



44

House of Choice for Structured Trade & Export Finance

45

• UniCredit assists clients in structuring, arranging and syndicating financing solutions for mid- and long-term export business

• Based on our strong network with specialist teams in Austria, France, Germany, Italy, Americas and Asia, we work with major European exporting companies as well as main global ECAs

• UniCredit is one of three banks winning the 2015 Exporters’ Choice Award based on a large survey TXF ran the previous year in which they interviewed 80 global exporters to find out which ECAs and banks deliver the most excellent service

• Our offer includes ECA-transactions dealing with a high level of complexity and risk. Multi-sourcing capability and local currency solutions, extending reach through cooperation with strong local banks

• Bundling of tailor-made solutions with other debt products: e.g. project finance, leasing & trade finance tools (e.g. Letters of Credit, Guarantees) and supplier credits with ECA-enhancement

• First three quarters has been solid driven by our strong expertise in shipping, infrastructure and Oil & Gas

• While markets especially for large tickets are more modest, there is an increasing demand from sovereign counterparts, especially in Africa being a strong focus of our exporter base next to CEE & CIS

All ECA-covered in EMEA

Pos Mandated Lead Arranger Deal Value (EUR mn) No. Share % 1 HSBC 1,222 11 12.5 2 BNP Paribas 884 5 9.1 3 Citi 826 4 8.5 4 Cassa Depositi e Prestiti SpA 684 4 7.0 5 ING 657 5 6.7 6 Crédit Agricole CIB 651 4 6.7 7 UniCredit 510 5 5.2 8 Société Générale CIB 467 4 4.8 9 Santander 456 4 4.7

10 JPMorgan 445 3 4.6 Total 9,760 30 100.0


TXF Media

UniCredit Exporters’ Bank of

Choice 2015

Awarded Jan 2016

Structured Trade & Export Finance

Significant STEF Transactions

46

• OeKB-covered financing of a new production line for one of the largest window, door and glazing solutions providers in the Nordics

• Supporting the Austrian flat glass producer LiSEC in its global operations

• Contributing to energy-efficiency by working with a company focused on and pioneering sustainable development

• Discounting of 10 Promissory Notes related to a supply of a complete equipment for the production of standard welded mesh

• The Debtor is part of one of the largest and most dominant steel groups in South East Asia

• Transaction entirely covered by: SACE (90%) and the Exporter (10%)

• OeKB + PRI covered financing for 100% of a 20 MW Photovoltaic Park based on Senegalese state guarantee

• First larger-volume financing in Africa for Austrian supplier Energie Merl

• UniCredit Bank Austria AG acted as Sole Lender thereby emphasizing its strong position in the African market

• UniCredit Bank AG and Yapi ve Kredi succeeded in wining the deal in a tight competition against 14 international banks

• Introduction of Yildiz Entegre Romania S.A. to UniCredit Romania with an entirely new client relationship

• ECA-financing led to a new ECA-financing mandate with Yildiz Entegre Russia

• Introduction of transaction as well as close cooperation with Yapi ve Kredi Bankasi

• First Euler Hermes-covered financings involving UniCredit Commercial Banking clients as exporters after a few years

• ECA-covered facility opens the way for a new investment project in the paper sector of Kipas Group

• UniCredit Bank AG co-financed one of the largest projects in Egypt ever supporting Siemens as MLA in a #16 banks syndicate

• Seamless cooperation across CIB network including Senior Banker, MNC-coverage, EPA, IPPF, Structured Syndicate, FIG, CRO

• One of three Hermes facilities for gas-fired power plants to Egyptian Electricity Holding

20 MW Photovoltaic Park Kahone

EUR 28,141,338 OeKB / PRI covered

Buyer’s Credit Sole Lender

Senegal, May 2016

Kipaş Mensucat İsletmeleri A.Ş.

EUR 14,810,000 Two Euler Hermes

covered Buyer’s Credits

Sole Lender Turkey, Sep 2016

4,800 MW CCGT EEHC – New Capital

EUR 1,189,291,993 Euler Hermes Facility

MLA Egypt, Mar 2016

Skaala Production Oy

EUR 8,668,099 OeKB covered Buyer’s

Credit Sole Lender

Finland, Feb 2016

A.W.M. S.p.A.

EUR 2,006,208 SACE-covered

Receivable Financing

Discounting Bank Indonesia, Feb 2016

Yildiz Entegre Romania S.A.

EUR 65,614,500 Euler Hermes covered

Buyer’s Credit Sole Lender

Romania, July 2016

Structured Trade & Export Finance

Disclaimer

47

UniCredit Corporate & Investment Banking is a division of UniCredit and consists of UniCredit Bank AG, Munich, UniCredit Bank AG Vienna Branch, UniCredit Bank AG London Branch, UniCredit Bank AG Milan Branch, UniCredit Bank Austria AG, Vienna, UniCredit S.p.A., Rome, UniCredit CAIB Poland S.A., Warsaw, Bank Pekao SA, Warsaw, UniCredit Bank Slovakia AS, ZAO UniCredit Bank, Moscow, UniCredit Bank S.A., Bucharest, UniCredit Bank Czech Republic and Slovakia A.S., Prague and Bratislava (Slovakia Branch), Yapi Kredi Yatirim Menkul Degerler A.S., Istanbul, UniCredit Bulbank AD, Sofia, Zagrebacka banka d.d., Zagreb, UniCredit Bank Hungary Zrt., Budapest, and other members of UniCredit. UniCredit Group and its subsidiaries are subject to regulation by the European Central Bank. In addition, UniCredit Bank AG and its branches are regulated by the Federal Financial Supervisory Authority (BaFin). In addition to that, UniCredit Bank AG Vienna Branch is also regulated by the Austrian Financial Market Authority (FMA), UniCredit Bank AG London Branch is also regulated by the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) and UniCredit Bank AG Milan Branch is also regulated by Banca d’Italia and the Commissione Nazionale per le Società e la Borsa (CONSOB). UniCredit Bank Austria AG is regulated by the Austrian Financial Market Authority (FMA). UniCredit S.p.A. is regulated by Banca d’Italia and the Commissione Nazionale per le Società e la Borsa (CONSOB). UniCredit CAIB Poland S.A. is regulated by the Polish Financial Supervision Authority. Bank Pekao SA, Warsaw, is also regulated by the Polish Financial Supervision Authority. UniCredit Bank Czech Republic and Slovakia AS, is regulated by the CNB Czech National Bank, Prague, and subject to limited regulation by the National Bank of Slovakia, Bratislava. ZAO UniCredit Bank is regulated by the Central Bank of the Russian Federation, Moscow, UniCredit Bank S.A. is regulated by Romanian National Securities Commission and the Banca Nationala a Romaniei. Yapi Kredi Yatirim Menkul Degerler A.S. is regulated by the Capital Markets Board of Turkey. UniCredit Bulbank AD is regulated by the Bulgarian National Bank and the Financial Supervision Commission. Zagrebacka banka d.d. is regulated by the Croatian Financial Services Authority. UniCredit Bank Hungary Zrt. is regulated by the Hungarian Financial Supervisory Authority. This is for information purposes only and (i) does not constitute or form part of any offer for sale or subscription of or solicitation of any offer to buy or subscribe for any financial, money market or investment instrument or any security, (ii) is neither intended as such an offer or solicitation for any such instrument or any security nor (iii) as an advertisement thereof. This communication is directed solely at investment professionals and constitutes a “nonretail communication” for the purposes of the relevant regulations. The securities referred to in this advertisement have not been registered under the U.S. Securities Act of 1933, as amended (the “Act”), and may not be offered or sold in the United States or to a U.S. person absent registration or an applicable exemption from the registration requirements of the Act.

Corporate & Investment Banking UniCredit S.p.A. CIB Communications [email protected] www.cib.unicredit.eu

Documents

UniCredit Local Roots. European Leadership. · 2 . UniCredit Local Roots. European Leadership. Transactions: 2016 YTD . League Tables: 1 January – 30 June 2016 . Sources: UniCredit,