A worldwith one central value.

of values,

Welcome to

It is to earn the trust of our customers.

Index

Who we are

Highlights

Our business model

Our commitment to sustainability

Our commitment to culture

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6

8

12

18

No matter where, no matter when.

4

Who we are

We are one of Europe’s leading commercial banks. We operate in 22 countries with more than 160,000 employees and 9,500 branches and a strong strategic position in Central and Eastern Europe.

Because we are committed to generating value for our customers, we stay closely connected to the communities in which we operate and offer concrete support for the real economy every day. Fairness, transparency, respect, trust, reciprocity and freedom of action are the values that inspire our work. Based on these values, every one of us at UniCredit aspires to excellence and strives to make our personal and professional relationships simple and efficient.

It is important to us to provide concrete answers and real benefits that meet the financial needs of all our customers. This is the brand promise that distinguishes our Group - a promise that we execute with passion. This passion can be seen, for example, in our sponsorship of the UEFA Champions League.

Our role as the Official Bank of this important sporting competition represents a concrete way to share an emotional connection with millions of fellow sports enthusiasts. To us, banking is about building human relationships on the basis of our understanding of our customers as people - rather than just as customers.

AUSTRIAAZERBAIJANBOSNIA AND HERZEGOVINABULGARIACROATIACZECH REPUBLICESTONIAGERMANYHUNGARYITALYKAZAKHSTAN

KYRGYZSTANLAVTIALITHUANIAPOLANDROMANIARUSSIASERBIASLOVAKIASLOVENIATURKEYUKRAINE

6 7

Highlights

EMPLOYEES1 over 160,000

BRANCHES2 nearly 9,500

SENIOr mANAGEmENT

ExECUTIvE & mIddLE mANAGEmENT

STAFF

*The data applies to UniCredit’s employees as of december 31, 2011-2010-2009. Our employee data does not include external staff (e.g., interns or consultants).

2009

20%

36%

62%

2010

20%

37%

62%

2011

21%

38%

63%

Female Gender distribution by employment tier*

We provide concrete answers to real needs.

revenues by reGion (%)

ITALY

GERMANY

POLAND

AUSTRIA

CEE

43

7

18

9

23

employees by country1 (%)

25.1

10.5

32.5

6.312.3

13.3

AUSTRIA

GERMANYPOLAND

TURKEY

OTHERS

ITALY

4,40

0

850

953

1,00

3 1,98

0

9,49

6

310

AUSTRIA GERMANY TURKEY POLAND ITALY OTHERS TOTAL

brancHes by country2

1. data as at december 31, 2011. FTE = “Full Time Equivalent”: number of employees counted for the rate of presence. Figures include all employees of subsidiaries consolidated proportionately, such as Koç Financial Services Group employees.2. Figures include all branches of subsidiaries consolidated proportionately, such as Koç Financial Services Group branches.

TOTAL ASSETS

OpErATING INCOmE

OpErATING prOFIT

NET prOFIT (LOSS)

SHArEHOLdEr’S EqUITY

COrE TIEr 1 rATIO

TIEr 1 rATIO

926,769

25,200

9,740

(9,206)

51,479

8.40%

9.32%

(currency amounts are shown in € million)

**Includes Group cash contributions and - for Italy only - time and in-kind resources. management costs are distributed based on the contributions by focus. “Other” primarily refers to local sport initiatives. It does not include main professional ones.

percentaGe oF community contributions by Focus, 2011

(100% = €65 million)**

ARTSCULTURE

35

8

17

21

2

43

EMERGENCYRELIEF

ENVIRONMENTHEALTH

1OTHER SUPPORT

EDUCATIONAND YOUNG PEOPLE

SOCIALWELFARE

ECONOMICDEVELOPMENT

We serve many countries and face many realities.

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Our business model

We aim to be a solid European commercial bank, with robust capitalization to provide UniCredit customers with the greatest possible confidence. Our business model is built on principles that enable us to serve individual markets with a local approach while leveraging the synergies and economies of scale that come with our standing as a large global Group.

The centrality of the customerOur operating model was developed with the intention of keeping us close to our customers, understanding their needs and building fair, transparent and long-term relationships with them. Offering concrete solutions to the challenges and opportunities encountered by our customers is at the center of our people’s daily work.

The multi-center approachUniCredit’s multi-center approach allows our local banks to manage the distribution network directly, while maintaining the advantages of having access to the expertise of our global product and service lines.

Global product and service linesOur global product lines are responsible for the centralized development of products and services, such as in the fields of leasing and electronic payment systems. That permits us to develop a broader and more competitive range of offerings in all the countries in which we operate.

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Our global service lines guarantee the quality of the support we provide, such as with our online services, back-office operations and management of procurement and real estate assets.

Our organizational structure reflects our business model as well as our geographical scope:

- To better meet the needs of our customers, we are structured by the following specialized business divisions: Families & Small and medium-Sized Enterprises, private Banking, and Corporate & Investment Banking. These centrally managed divisions define our service model and product development, oversee marketing activities, and coordinate managerial and functional aspects of select businesses.

The CEE division, dedicated to one of our areas of significant growth, coordinates activities carried out in the 19 countries of Central and Eastern Europe where UniCredit operates.

- We combine an international presence with a multi-center approach to stay close to our customers. To this end, we have created the position of Country Chairman, with the dual responsibility of providing a broad business vision at the country level and of ensuring alignment between central management and local management.

That is why we have many solutions, both local and global.

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There is no today without tomorrow.

At UniCredit, sustainability is an integral part of our business. Today, being a sustainable bank means that our overall strategy and day-to-day decisions must address economic, social and environmental issues. We are committed to understanding the expectations of our partners, generating long-term value, supporting economic and social progress, and sustaining the territories in which we operate.

To achieve our goals, we focus on six areas of responsibility:Excellence in customer service: ensuring a sustainable revenue structure, maintaining high levels of customer satisfaction, and retaining a stable customer base.

Investment in people: investing in professional skills, strengthening the engagement of our colleagues, and enhancing diversity to support the creation of long-term value.A pervasive risk culture:improving risk management skills and an awareness of their importance at all levels of the organization; developing integrated risk management systems covering all activities and types of risk in order to ensure a high degree of accuracy in write-down projections.

Sound governance:ensuring transparent decision-making processes, promoting simplification and the allocation of clear responsibilities in order to advance customer centricity. Value-added processes and operations: offering efficient and high-quality services to support business processes.Development of local communities: making a positive contribution to the sustainable development of the communities in which we live and work, achieving this both through our banking services and through initiatives aimed at supporting inclusion, financial education and social entrepreneurship.

We focus on these priorities together with our partners, constantly striving for excellence in the creation of shared value.

Our commitment to sustainability

14 15So we always focus on the future of the economy, the environment and society.

An example of our commitment to customers

For us, sustainability also means investing in innovative products and services. improving our multi-channel service model is one of our main strategic objectives. at unicredit, we are committed to developing alternative or innovative solutions that allow customers to interact with us through non-traditional banking channels. that is why we have developed a process dedicated to promoting innovation in new products, services and distribution channels. as a result, some 2.7 million unicredit customers in italy - individuals and small businesses - used our internet services at least once in 2011.

Its activities aim to reduce internal emissions generated by our operations and financed emissions associated with our investment portfolio. We also promote the environmental awareness of all employees through specific initiatives. At the same time, we are developing a new model that addresses the impacts of energy efficiency, renewables and carbon management. This model will be put into use in Italy and then extended to other countries.

An example of our commitment to the Environment

Officinae Verdi SpA is an energy service company that combines the experience of one of the world’s largest environmental conservation organizations with the technical and financial support of a major bank. The first of its kind in europe, this company is the fruit of a joint venture between UniCredit and WWF Italy. The mission of Officinae Verdi is to develop and promote a sustainable model in which consumers have the capacity to produce their own energy, thus reducing network inefficiencies and greenhouse gas emissions. it provides customers with technologically advanced solutions and access to financing for the distributed generation of renewable energy.

The sustainable use of natural resources represents a concrete commitment for UniCredit, as well as an important business opportunity. Our environmental program chiefly addresses climate change.

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It allows us to grow. It allows us to dream.

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portFolio in loans Forrenewable enerGy projects (100% = €8.1 billion; +33% vs. 2010)*

PHOTOVOLTAICPOWER PLANTS

WIND FARMS

OTHERS

3753

10

*Other renewable energy sources (biomass, hydropower and geothermal)

direct and indirect GHG emissions (tons co2 eq)

494,

824

472,

218

456,

989

420,

679

2008 2009 2010 2011

-15%

GHG emissions from sources owned or controlled by our Group and purchased electricity, steam and heating/cooling consumed by our Group owned or controlled equipment or operations.

UniCredit holds a place in the main international sustainability indices and benchmarks, which measure the economic, social, corporate governance and environmental performance of their component companies.

ASPI Eurozone®

Dow Jones Sustainability IndexFTSE4Good IndexECPI IndicesEthibel Sustainability Indicesoekom researchSustainalyticsVigeo

United Nations Global CompactLondon Benchmarking GroupUNEP Finance Initiative

UniCredit’s inclusion in the leading sustainability networks reflects our commitment to human rights, fair working conditions, the environment and an ongoing dialogue with our partners.

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Our commitment to culture

19Culture: a heritage to which we devote our commitment and our energy.

We are committed to supporting culture. We believe, when deployed as a strategic resource, culture creates significant value. It has the power to inspire innovation and sustainable social and economic growth.

The UniCredit Art Collection is one of Europe’s oldest and most comprehensive corporate collections. Uniting the masterpieces from the banks that came together to form our Group, it now comprises more than 60,000 works. With artwork by masters ranging from the renaissance to the 21st century in addition to a significant selection of photography, the collection speaks to the deep international roots of our Group and our common European identity.

We support art initiatives within UniCredit’s region of activity through loans to museums and exhibitions but also by launching major projects that have evolved into international exhibitions, including PastPresentFuture and People and the City.

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