2Q26 GROUP RESULTS –A STEP CHANGE MARKED BY THE BEST 2Q AND 1H RESULTS IN OUR HISTORY

PPhynwire

2Q26 GROUP RESULTS –A STEP CHANGE MARKED BY THE BEST 2Q AND 1H RESULTS IN OUR HISTORY | Phynwire

Text version

Informazione

Regolamentata n.

0263-98-2026Data/Ora Inizio Diffusione 23 Luglio 2026 07:03:51Euronext Milan

Societa' :UNICREDIT

Utenza - referente :UNICREDITN03 - Velo Michele

Tipologia :2.2

Data/Ora Ricezione :23 Luglio 2026 07:03:51 Data/Ora Inizio Diffusione :23 Luglio 2026 07:03:51

Oggetto :2Q26 GROUP RESULTS –A STEP CHANGE

MARKED BY THE BEST 2Q AND 1H

RESULTS IN OUR HISTORY

Testo del comunicato

Vedi allegato

1 | P a g e 2Q26 Group Results – Press release

Milan, 23 July 2026

2Q26 GROUP RESULTS – A STEP CHANGE MARKED BY THE BEST 2Q AND 1H RESULTS IN OUR HISTORY

UNLIMITED IS DELIVERING ACCELERATED PROFITABLE GROWTH, WITH STRONG QUALITY MARKET SHARE GAINS IN ALL OUR COUNTRIES ACROSS TARGETED

SEGMENTS AND PRODUCTS, WHILE TRANSFORMING THE BANK THROUGH AI AND NEW TECHNOLOG IES

STRONG NET REVENUE GROWTH OF 5% Y/Y IN 2Q26, UP 14% ADJUSTED1, DRIVEN BY CORE REVENUES WITH DOUBLE DIGIT GROWTH Y/Y IN FEES AND NET

INSURANCE RESULT , ACCELERATING NII, LOAN S AND DEPOSIT S UP 8%2 Y/Y AND COST OF RISK AT 17 BPS, WITHIN TARGET RANGE

CONTINUED DECLINING COSTS, DESPITE SIGNIFICANT INVESTMENT S TO SUPPORT GROWTH AND TRANSFORMATION, ALL RESULTED IN FURTHER IMPROVED OPERATING

LEVERAGE WITH CONFIRMED COST -INCOME RATIO LEADERSHIP AT 34% IN 1H26 AND RECORD GOP, NOP, NET PROFIT AND RoTE

FY26 NET PROFIT AMBITION UPGRADED TO WELL ABOVE €113 BN OR CIRCA €11.5 BN EXCL UDING INTEGRATION COSTS AND TRANSLATING INTO BETTER PROSPECTS

FOR 2027 -30

IMPROVED CET1 RATIO OF 14.3%, 14.5% EXCLUDING THE TEMPORARY IMPACT4 FROM INCREASED COMMERZBANK POSITION, AND 15.0% ADDING

DANISH COMPROMISE5. FY26 EXPECTED TO REMAIN AT A STRONG CET1r AT CIRCA 15%6

COMPELLING UPGRADED PROFITABLE GROWTH AND DISTRIBUTIONS STANDALONE STORY, IMPROVED BY DISCIPLINED DEPLOYMENT OF CAPITAL IN COMMERZBANK

*****

7 2Q26 net profit at €2.9 billion , or €3.1 billion ex Commerzbank related trading one-off, with 1H26 net profit at €6.37 billion , up 3%7 1H/1H or 24% adjusted1 and high RoTE at 23.7% 2Q26 revenue at €6.5 billion rose 7% Y/Y or 11% Y/Y ex trading one-off7, with core revenue up 6% Y/Y, demonstrating the strong commercial momentum and the results of our strategy and investments . 1H26 Revenues up 5% 1H/1H, or 8% ex trading one-off7 Standout performance in fees & net insurance : up 14% Y/Y and up 11%8 1H/1H , driven by strong growth across countries and product categories NII accelerated sequentially , up 2% Q/Q, supported by 8%2 Y/Y growth in quality loan s and deposit s Continued low cost of risk of 17 basis point s in 1H26 within target range , while further increasing NPE coverage and €1.69 billion of overlays provide additional resilience through the cycle Net revenues/RWAs remained top tier at 8.9%7, stable 1H/1H Costs down 1% Y/Y and 1H/1H , reflecting continued efficiency gains driven by operational redesign, technology and AI, while continuing to invest in our frontline, product factories , channels and tech . This resulted in a further improvement in the C/I ratio to 34% in 1H26 Capital generation remained strong, more than supporting €2.310 billion accrued shareholder distributions in 2Q26, or €4.710 billion in 1H26, despite RWA growth driven by business dynamics and other temporary RWA impact4 from the strategic portfolio , expected to be reversed by year -end 2Q26 CET1 ratio of 14.3% up 0.1 p.p. Q/Q, or 15.0 % pro forma for Danish compromise5 and such temporary impact4 reversal . FY26 CET1 ratio expected at circa 15%6 FY26 net profit ambition upgraded to well above €113 billion , or circa €11.5 billion excl. integration costs FY28 net profit ambition improved to well above €13 billion and FY30 improved to well above €15 billion, both before the full consolidation of

Commerzbank

Interim FY26 cash dividend of circa €2.8 billion11, envisaged at circa 50% of the total FY26 cash dividend Commerzbank is evolving from an attractive financial investment into a strategic transaction of substantial industrial value creation through the implementation of our proven blueprint . We expect to deploy capital at an overall RoAC of 15%, further enhancing our growth trajectory, distributions and per share metrics

Please refer to the General Notes and Main Definition sections at the back of this document for information regarding the fin ancial metrics and defined terms mentioned in this press release. All deltas are on a half year -on-half year basis unless otherwise stated. Record GOP, NOP, Net Profit and RoTE refer to 2Q and 1H and are based on adjusted metrics as defined in footnote 1 below.

1 Group excluding Russia, adjusted for trading one -off as defined in footnote 7, LLPs more stable distribution (assuming FY25 CoR ex. Russia of 19 basis points evenly distributed across quarters) and for circa €650 million positive one -off below the line in 2Q25.

2 Excluding repos and IC.

3 From prior ambition of equal to or above €11 billion.

4 Temporary RWA impact from strategic portfolio expected to be fully reversed by year -end.

5 Subject to supervisory approval.

6 Before potential impact from the full consolidation of Commerzbank.

7 i.e. excluding -€245 million trading one -off in 2Q26 ( -€261 million in 1H26) mainly due to the hedging & funding costs connected to increased position in Commerzbank - and related protection - reported in trading income line.

8 Net insurance result full consolidation was effective from 3Q25 onwards.

9 On Performing portfolio and Including calibration factor .

10 Accrued shareholder distributions based on 80% of the net profit , adjusted for non -distributable one -offs related to the badwill stemming from the equity consolidation of Commerzbank and Alpha bank (€231 million in 1H26 )).

11 The interim cash dividend, envisaged at circa 50% of the total FY26 cash dividend, will be defined by the UniCredit Board of Directors’ meeting which will approve the 3Q26 results, currently scheduled on 21 October 2026, after the completion of the necessary requirements; the expected dividend dates are: ex -

dividend date on 23 November 2026, record date on 24 November 2026 and payment date on 25 November 2026.

2 | P a g e 2Q26 Group Results – Press release

Andrea Orcel, Chief Executive Officer of UniCredit S.p.A. said:

“UniCredit achieved once again an outstanding set of results, leading to our best operating performance ever and a record first half. Unlimited is delivering a step change: we are accelerating profitable revenue growth, with clear evidence of quality market share gains and commercial momentum, while continuing to reset the efficiency frontier. Net profit reached €6.1 billion in 1H, up 24% versus the prior year adjusted , and at a superior RoTE of 2 4%. These results, together with our strong lines of defence, enabled us to improve our FY26 net profit guidance to well above €11 billion, or circa €11.5 billion excluding integration costs.

This performance reflects the disciplined execution of our strategy across every market in which we operate. We are growing the business while making it simpler, faster and more efficient, investing in our people, technology and AI to strengthen our competitive advantage and deliver a better experience for clients . I am particularly proud of our people across all our geographies, who exemplify our winning strategy and unifying culture. The progress achieved through our transformation, together with our diversification and strong safeguards, positions us to capture compelling organic growth opportunities while maintaining discipline to pursue value -accretive inorganic options, all while remaining well prepared to perform across a wide range of environments.”

FINANCIAL REVIEW

On 22 July 2026, the Board of Directors of UniCredit S.p.A. (“UniCredit” or “the Group”) approved the consolidated Group’s results for the first half 2026 as of 30 June 2026. 2Q26 marked the 22nd quarter of quality, profitable growth and the best second quarter and first half in our history . Building on the foundations laid by UniCredit Unlocked, Unlimited confirm s a step change in the Group’s performance.

The Group delivered further acceleration during the quarter, driven by high quality market share gains in targeted segments and products, disciplined execution and continued transformation also leveraging on AI and new technologies. This consistent delivery further strengthens the quality, resilience and sustainability of our earnings profile and supports our long-term ambitions.

1H26 net profit was a record €6.1 billion, up 3 per cent first half-on-first half when excluding trading one-

off7, or up 24 per cent adjusted1 (up 0.1 per cent otherwise ). This once again highligh ts the strength of UniCredit ’s operating model, combining strong top line growth, industry leading efficiency and disciplined capital and risk management to deliver sustainable shareholder value creation with a 1H26 RoTE at 23.7% and EPS of €4.09.

This excellent set of results was underpinned by accelerating core revenues, growing 3.6% first half-on-

first half to €12.2 billion in 1H26 , demonstrating the resilience and quality of the Group’s earnings profile.

Growth was driven by strong fee & net insurance momentum, alongside net interest income (“NII”) accelerating sequentially supported by quality volume growth . The acceleration in core revenues, coupled with disciplined risk management translating in loan loss provisions (“LLPs”) of €0.4 billion , drove net revenues to €13.0 billion in 1H26, increasing 6 per cent first half-on-first half when excluding the trading income one-off7, or 4 per cent otherwise .

1H26 NII decreased by 0.8 per cent versus 1H25 to €7.2 billion , a resilient performance given the lower average Euribor in the period and Russia compression , or up 0.2 per cent net of the latter . The performance was supported by quality loan growth (up 82 per cent first half-on-first half), disciplined management of deposit pricing, with average pass‑through closing the period at around 30 per cent for the Group and higher contribution from the replicating portfolio . NII is expected to continue improving sequentially .

3 | P a g e 2Q26 Group Results – Press release

Fees & net insurance result totall ed €5.0 billion in 1H26, a robust increase of 11 per cent first half-on-

first half, driving the excellent results of our first half of the year, with all regions12 showing a positive trajectory , with a particularly excellent performance in investment and advisory & financing fees. Fees & net insurance result represented approximately 38 per cent of net revenues in 1H26 .

Trading income stood at €229 million in 1H26, down 55 per cent first half-on-first half. This was largely driven by the €245 million negative one-off in 2Q26 (-€261 million in 1H26) mainly due to the hedging and funding cost connected to the increased position in Commerzbank and related protection . 1H26 dividends13 were €1.1 billion , more than doubling half year-on-half year, benefiting from the higher contribution from our strategic portfolio . The other expenses /income decreased to -€163 million, the delta versus prior half year is driven by higher securitisation costs and a positive one-off in 1H25.

In the first half of the year, operational costs amounted to €4.6 billion, down 1 per cent first half-on-first half, reflecting continued cost discipline in both HR costs, down 0.5 per cent first half-on-first half, and non-HR ones, down 1.4 per cent first half-on-first half. Structural actions to simplify and streamline the organisation, combined with end‑to‑end process redesign leveraging AI and increased automation, effectively absorbed inflation headwinds and ongoing investments in our frontline, product factories, channels and technology . As a result of continued revenue growth and effective execution of our targeted cost-reduction initiatives, the Group improved its best-in-class cost/income ratio (“C/I”) to 34%.

With €377 million of loan loss provision in the first half of the year, Cost of Risk (“CoR”) remained structurally low at 17 basis point s, in line with the 15-20 basis points ambition for FY26, expected to be more evenly distributed over the year14. Our high-quality, diversified credit portfolio remains resilient, supported by low net non-performing exposures ratio (“net NPE ratio ”) with increasing coverage levels and low default rate at 0.8% year to date. The Group used around €70 million overlays, partially offsetting the increase in LLPs due to the update of IFRS9 macro -economic scenario, bringing to a total of €1.69 billion overlays still in place .

The Group organically generated €2.515 billion, or 8515 basis points of capital in 2Q26, supporting accrued distribution of 8410 basis points in the quarter . With the contribution of +2 6 basis points from DTAs, regulatory impact, PD scenario and other items , and a fter absorbing -19 basis points due to the temporary impact from strategic portfolio , the CET1 ratio stood at 14.3%, up 0.1 percentage points quarter on quarter or at 15 .0% pro forma for Danish Compromise5 and temporary RWA impact4 from the strategic portfolio reversal expected by FY26 , well above the 12.5% - 13% CET1 ratio management target range.

The FY26 interim cash dividend , which will be defined by the UniCredit Board of Directors’ meeting at the approval of the 3Q2 6 results after the completion of the necessary requirements, is envisaged at circa €2.8 billion , corresponding to circa 50% of the total expected FY26 cash dividend. The UniCredit Board of Directors’ meeting is currently scheduled on 21 October 2026 – thus the expected dates are: ex-dividend date on 23 November 202 6, record date on 24 November 202 6 and payment date on 25 November 2026.

This combination of strong capital generation and disciplined capital allocation underpins a compelling stand -alone equity story characteri sed by the best combination of quality growth, superior RoTE and attractive shareholder distributions, further enhanced by value -accretive M&A optionality .

12 Group excluding Russia.

13 Include other dividends and equity investments.

14 LLPs more stable distribution i.e. assuming FY25 CoR ex. Russia of 19 basis points evenly distributed across quarters .

15 Organic capital generation adjusted for negative trading one -off impact and temporary RWA impact from strategic portfolio expected to be fully reversed by year-end; it includes 11 ba sis points from Alpha Bank and Commerzbank executed distributions, reducing their equity value, and other capital related impacts .

4 | P a g e 2Q26 Group Results – Press release

OUTLOOK AND FINANCIAL AMBITION

UniCredit benefits from a proven transformation track record, sustained growth momentum and a resilient and diversified business model, underpinning confidence in the Group’s ability to deliver on its financial ambitions while continuing to invest in the franchise.

The strong performance in 1H26 leads us to improve our FY26 net profit ambition to well above €113 billion, or circa €11.5 billion when excluding integration costs . We now aim for a FY28 net profit well above €13 billion and FY30 well above €15 billion, both before the full consolidation of Commerzbank.

The Group's FY26 CET1 ratio is expected to be at circa 15% , before full consolidation of Commerzbank.

The initial capital impact from full consolidation, assuming the offer's completion by the end of the year and subject to all necessary authorizations, is expected at circa 200 basis points, before impacts from Purchase Price Allocation ("PPA"), and includ ing the effect of the cancellation of the €4.75 billion FY25 share buy-back , reinvested at a higher RoAC. The CET1 ratio post line-by-line consolidation of Commerzbank is expected to be in the 13% area and to strengthen quickly over time.

The transaction is expected to be accretive on an absolute and per share basis, leading to double digit net profit growth in 2026 -2028 and adding to the already double -digit EPS and DPS growth of Unlimited for the period 2026 – 2028, while continuing on a superior trajectory beyond 2028, towards 2030.

ESG AND COMMUNITIES

UniCredit is continuing to execute its ESG Strategy across all ESG dimensions while evolving to increase our focus on making a tangible impact. The Group keeps working towards its 2026 ESG penetration targets (15% ESG Lending target, 15% Sustainable bonds target, 50% ESG AuM target), as well as progressing versus its Net Zero targets. UniCredit continued to support clients via the launch of new products, such as UniCredit Valore Energia Più in Italy, a new loan for individuals, as well as strengthening clie nt engagement through our partnerships (renewed collaboration with Fondo per l’Ambiente Italiano).

Supported by €105 million in funding from UniCredit over the past four years, UniCredit Foundation has established itself as a leading European philanthropic actor in addressing educational poverty and expanding opportunities for young people. Filarmonica della Scala and UniCredit celebrate over twenty -

five years of continuous collaboration, part of UniCredit's commitment to art and culture, alongside the promotion of the international UniCredit Art Collection, reflecting our Group's pan -European identity a nd values.

For the first time, UniCredit has been included in TIME's World’s Most Sustainable Companies ranking, and once again named in Il Sole 24 Ore's Leader della Sostenibilità 2026, among Italy's most sustainable companies. Additionally, UniCredit won two major recognitions at ABI Diversity and Inclusion Award 2026 for the projects “Making the Invisible Visible: Valuing Talent” and for “ATMs, Cards and Mobile Banking: a step toward inclusion” .

For the key recent events in 2Q26 and since the end of the quarter please refer to section “Significant events during and after 2Q26” of this document.

Investor Relations:

e-mail: investorrelations@unicredit.eu Media Relations:

e-mail: mediarelations@unicredit.eu

UNICREDIT 2Q26 GROUP RESULTS – MILAN, 23 July 2026 – 10.00 CET

THE CONFERENCE CALL WILL ALSO BE AVAILABLE VIA LIVE AUDIO WEBCAST AT

https://www.unicreditgroup.eu/en/investors/financial -reporting/group -results.html , WHERE THE SLIDES WILL BE

DOWNLOADABLE

5 | P a g e 2Q26 Group Results – Press release

2Q26 KEY FIGURES

• Total revenues: €6.5 bn, down 5.1% Q/Q and up 6.6% Y/Y;

• Net revenues: €6.3 bn, down 5.4% Q/Q and up 5.4% Y/Y;

• Net Interest Income (NII) : €3.7 bn, up 2.0% Q/Q and up 0.4% Y/Y;

• Fees & net insurance result: €2.5 bn, down 2.1% Q/Q and up 14.3% Y/Y;

• Trading income : -€246 m, delta is n.m. both Q/Q and Y/Y;

• Dividends13: €709 m, up 73.8% Q/Q and more than doubling Y/Y;

• Operating costs: €2.3 bn, up 0.1% Q/Q and down 0.7% Y/Y;

• Integration costs: €0.1 bn, n.m. Q/Q and up 53.5% Y/Y;

• Cost/Income ratio: 35.2%, up 1.8 p.p. Q/Q and down 2.6 p.p. Y/Y;

• Stated net profit: €2.9 bn, down 9.7% Q/Q and down 13.1% Y/Y;

• Net profit : €2.9 bn, down 9.7% Q/Q and down 13.1% Y/Y;

• RoTE : 21.7%, down 4.1 p.p. Q/Q and down 4.6 p.p. Y/Y;

• EPS: €1.94, down 9.7% Q/Q and down 10.2% Y/Y;

• Group CET1 ratio: 14.3%, up 0 .1 p.p. Q/Q and down 1.8 p.p. Y/Y;

• RWAs: €308.9 bn, up 3.3% Q/Q and up 7.3% Y/Y;

• LLPs : €192 m, up 4.0% Q/Q and up 76.3% Y/Y;

• Cost of Risk (CoR): 17 bps, flat Q/Q and up 6 bps Y/Y;

• Average gross commercial performing loans: €403.4 bn, up 2.4% Q/Q and up 6.0% Y/Y;

• Average commercial deposits: €484.2 bn, up 0.8% Q/Q and up 6.3% Y/Y;

• Loan/Deposit ratio16: 87.8% up 0.7 p.p. Q/Q and down 0.2 p.p. Y/Y;

• Gross NPEs: €12.0 bn, up 0.7% Q/Q and up 2.7% Y/Y;

• Net NPEs: €6.5 bn, up 0.4% Q/Q and up 1.8% Y/Y;

• NPE Coverage ratio: 45.9%, up 0.2 p.p. Q/Q and up 0.5 p.p. Y/Y.

16 Excluding repos and IC; end of period.

6 | P a g e 2Q26 Group Results – Press release

UNICREDIT GROUP : CONSOLIDATED RESULTS

Note: Figures of Reclassified consolidated income statement relating to 2025 have been restated, starting from March 2026, mainly w ith the effects of the:

• shift from Trading income to Net interest of amounts related to net result of commodity linked derivatives;

• shift from Net interest to Trading income of the cost of funding related to certificates;

• shift from Fees to Other expenses/income of the costs related to synthetic securitizations deriving from guarantees provided by third parties (including the costs of issued Credit Linked notes guaranteeing the performance of specific Loan portfolios previo usly classified in Net

interest);

• shift from Other expenses/income to Fees of the costs the Bank must reimburse to the Insurance companies if it fails to retai n the customer’s product for the time foreseen by specific contracts.

Figures of Reclassified consolidated income statement relating to 2025 have been restated, starting from June 2026, with the effects of the shift from Trading income to Net income from investments of UCITS whose underlying portfolio consists of debt securi ties related to non -performing loans.

Total revenues stood at €6.5 bn in 2Q26 , up 6.6% Y/Y or up 10.7% when excluding trading income one off7 of -€245 m in the quarter mainly due to the hedging and funding cost related to Commerzbank offer, thanks to dividends13 more than doubling versus prior year, higher fees & net insurance result (+14.3% Y/Y) and NII (+0.4% Y/Y) . Total revenues were down 5.1% Q/Q, due to the aforementioned negative trading income one-off7. When excluding it, total revenues were down 1. 8% Q/Q thanks to higher dividends13 at €709 m (+7 3.8% Q/Q) and higher NII accelerating sequentially at €3. 7 bn (+2.0% Q/Q) despite lower fees & net insurance result at €2.5 bn (-2.1% Q/Q) .

Net revenues were at €6.3 bn in 2Q26, down 5.4 % Q/Q and up 5.4% Y/Y.

In 2Q26, NII stood at €3.7 bn, up 2.0 % Q/Q, mainly driven by positive volumes on both loans and deposits , higher calendar days in the quarter and higher contribution from replicating portfolio . NII was up 0.4% Y/Y, thanks to positive volumes on both loans and deposits more than compensating non-commercial items .

Fees & net insurance result reached €2. 5 bn in 2Q26, up 14.3% Y/Y, growing across most categories and mainly driven by investment and financing fees. On a Q/Q basis, fees & net insurance result were down 2.1%, despite the good performance of insurance fees, after the seasonally strong 1Q. In more detail, in 2Q26: (€ million) 1H25 1H26 vs 1H25 2Q25 1Q26 2Q26 Q/Q Y/Y Total revenues 12,701 13,394 +5.5% 6,115 6,873 6,521 -5.1% +6.6% o/w Net interest 7,304 7,245 -0.8% 3,643 3,587 3,658 +2.0% +0.4% o/w Fees and net insurance result 4,477 4,965 +10.9% 2,149 2,509 2,456 -2.1% +14.3% o/w Trading 514 229 -55.4% 18 476 -246 n.m. n.m.

o/w Dividends 446 1,117 n.m. 317 408 709 +73.8% n.m.

Operating costs -4,636 -4,595 -0.9% -2,315 -2,297 -2,298 +0.1% -0.7% Gross operating profit 8,065 8,799 +9.1% 3,800 4,576 4,223 -7.7% +11.1% Loan Loss Provisions -192 -377 +96.2% -109 -185 -192 +4.0% +76.3% Net operating profit 7,873 8,422 +7.0% 3,691 4,392 4,031 -8.2% +9.2% Stated net profit/loss 6,115 6,123 +0.1% 3,344 3,218 2,905 -9.7% -13.1% Net profit 6,115 6,123 +0.1% 3,344 3,217 2,906 -9.7% -13.1% CET1 ratio 16.0% 14.3% -1.8 p.p. 16.0% 14.2% 14.3% +0.1 p.p. -1.8 p.p.

RoTE 24.7% 23.7% -1.0% 26.3% 25.8% 21.7% -4.1 p.p. -4.6 p.p.

Customers loans (excl. repos and IC) 409,788 442,625 +8.0% 409,788 428,688 442,625 +3.3% +8.0% Gross NPE 11,692 12,008 +2.7% 11,692 11,924 12,008 +0.7% +2.7% Customer deposits (excl. repos and IC) 465,291 503,847 +8.3% 465,291 491,827 503,847 +2.4% +8.3% Cost/income ratio 36.5% 34.3% -2.2 p.p. 37.9% 33.4% 35.2% +1.8 p.p. -2.6 p.p.

Cost of risk (bps) 9 17 +8 10 17 17 -0 +6

7 | P a g e 2Q26 Group Results – Press release

− Investment fees were €0.8 bn, up 16.6% Y/Y, growing across most regions and mainly driven by stronger gross AuM sales and higher AuM and AuA stock .

− Insurance fees stood at €0.2 bn, up 15.4% Y/Y, growing across both life insurance up-front fees in Italy and continued growth in non-life, especially on CPI products .

− Current accounts & payments fees generated €0.6 bn, down 1.9% Y/Y entirely driven by Russia and Card complete .

− Financing & advisory fees were €0.5 bn, up 10.4% Y/Y with better loans related fees in Italy and Advisory, capital markets and other in Germany .

− Client hedging fees were €0.2 bn, up 12.2% Y/Y driven by Germany and CEE.

Trading income stood at -€246 m in 2Q26 , down more than 100% both Q/Q and Y/Y. The performance was negatively affected by -€245 m one-off mainly connected to the increased position in Commerzbank

- and related protection - in 2Q26, and by the cost of the structural hedge on strategic portfolio (€214 million in 2Q26) and Russia reduction .

Dividends13 were at €709 m in 2Q26 , up 73.8% Q/Q and more than doubled Y/Y reflecting the higher contribution from the strategic portfolio .

Operating costs stood at €2. 3 bn in 2Q26, down 0.7% Y/Y despite inflationary pressures , confirming the Group’s track -record in operational efficiency through targeted cost reductions and leveraging on AI , while keeping investing in our people, technology and business growth. Costs were up 0.1% Q/Q. In particular:

− HR costs were €1. 4 bn in 2Q26, down 0.9% Q/Q supported by continued FTE reduction and down 0.8% Y/Y , with a reduction in FTE despite the broader perimeter of the Group.

− Total Non -HR costs17 were €0.9 bn in 2Q26, up 1.7% Q/Q driven by seasonality mainly affecting discretionary expenses and only partially offset by lower real estate costs, and down 0.7% Y/Y mainly thanks to the positive impact of lower depreciation, real estate initiatives and consulting costs .

The Cost/Income ratio stood at of 35.2% in 2Q26 , up 1.8 p.p. Q/Q and down 2.6 p.p. Y/Y. Cost/ Income ratio was at 34.0% in 2Q26 when adjusting for the aforementioned one-off on trading income line.

Cost of Risk, stood at 17 bps in 2Q26, flat Q/Q and up 6 bps Y/Y. This was supported by a highly covered and robust credit portfolio, with a default rate at 0.8% year to date. The Group used around €70 million overlay s, partially offsetting the increase in LLPs due to the update of IFRS9 macro -economic scenario , and thus still retain s an amount of overlays on performing exposures of circa €1.6 bn6.

The 2Q26 Group stated tax rate stood at 24.8% and was positively impacted by, among others , the non-

taxability of certain items such as the dividends coming from equity investments .

Stated net profit equalled net profit in 2Q26, both amount ing to €2.9 billion, down 9.7% Q/Q, or down 4.6% adjusted1, and down 13.1% Y/Y or up 22.0% adjusted1.

17 Includes Non -HR costs, recovery of expenses and amortisations and depreciations.

8 | P a g e 2Q26 Group Results – Press release

BALANCE SHEET

Average gross commercial performing loans were €403. 418 bn as of 2Q26, up 2.4 % Q/Q, with highest growth rate in Italy and Central and Eastern Europe , and up 6.0% Y/Y, with strong increases in Italy and CEE more than offsetting Russia reduction . The main contributors as of 2Q26 were Italy (€149.0 bn), Germany (€110.2 bn) and Central and Eastern Europe (€84.1 bn).

Gross customer performing loan rates were 3.9% in 2Q26 up 5 bps Q/Q and down 5 bps Y/Y.

Average commercial deposits stood at €484. 2 bn as of 2Q26, up 0.8% Q/Q mainly driven by stronger volumes in Italy and Central and Eastern Europe ; and up 6.3% Y/Y. The main contributors as of 2Q26 were Italy (€185.8 bn), Germany (€137.1 bn) and Central and Eastern Europe (€99.2 bn).

Customer deposit rates stood at -0.8% in 2Q26, down 4 bps Q/Q and up 1 bps Y/Y.

Loan/Deposit ratio net of Repos and Intercompany at 2Q26 end of period was 87.8%, up 0.7 p.p. Q/Q and down 0.2 p.p. Y/Y.

Total Financial Assets (TFAs) were €885.7 bn in 2Q26, up 4.2% Q/Q and up 6.9% Y/Y.

− AuM + AuA : €210.4 bn, up 7.3% Q/Q and up 18.5% Y/Y;

− Insurance : €62.0 bn, up 5.4% Q/Q and up 9.1% Y/Y;

− AuC: €204.4 bn, up 4.5% Q/Q and down 1.7% Y/Y;

− Deposits : €408.9 bn, up 2.3% Q/Q and up 5.9% Y/Y.

ASSET QUALITY19

Gross NPEs were €12.0 bn in 2Q26 (+0.7% Q/Q and +2.7% Y/Y) leading to a gross NPE ratio of 2.5% ( -

0.1 p.p. Q/Q and -0.2 p.p. Y/Y), while net NPEs were 6.5 bn in 2Q26 (+0.4% Q/Q and +1.8% Y/Y), with a net NPE ratio of 1.4% ( -0.1 p.p. Q/Q and -0.1 p.p. Y/Y). The NPE coverage ratio was 45.9% (+0.2 p.p. Q/Q and +0.5 p.p. Y/Y).

Gross bad loans amounted to €3.8 bn in 2Q26 (+0.1% Q/Q and +14.4% Y/Y) with a coverage ratio of 67.4% (+1.9 p.p. Q/Q and +0.4 p.p. Y/Y). Gross unlikely to pay stood at €7.5 bn in 2Q26 (+0.6% Q/Q and -2.0% Y/Y), with a coverage ratio of 36.2% ( -0.4 p.p. Q/Q and -1.0 p.p. Y/Y).

CAPITAL & FUNDING

The Group’s 2Q26 CET1 ratio stood at 14.3%, up 7 bps Q/Q, mainly driven by +8515 bps adjusted organic capital generation, +26 bps from DTAs, regulatory impact, PD scenario and other items, -84 bps10 from accrued distributions and -19 bps from a temporary RWA impact4 from strategic portfolio.

Group Tangible Equity was € 62.5 bn, up 5.0% Q/Q and up 4.6% Y/Y, while Group tangible book value per share was € 41.48 , up 5.0% Q/Q and up 8.1% Y/Y.

The transitional leverage ratio stood at 5.1% in 2Q26, down 11 bps Q/Q and down 64 bps Y/Y.

RWAs were €308.9 bn in 2Q26, up 3.3% Q/Q, driven by business dynamics (+€12. 5 bn) including the temporary impact linked to trading one-off of circa €4 bn, regulatory impact (+€0. 4 bn) and FX effect (+€0.5 bn), balanced by RWA savings resulting from active portfolio management (-€2.9 bn of which -

€1.5 bn from securitisations), and PD scenario (-€0.5 bn). RWAs were up 7.3% Y/Y in 2Q26.

18 Includes Group Corporate Centre. The information provided in this footnote is also applicable to Gross customer performing loan rates and Average commercial deposits.

19 NPEs excludes exposures classified as held for sale.

9 | P a g e 2Q26 Group Results – Press release

Regulatory liquidity ratios are sound : LCR at circa 140% as of 2Q26, meaningfully above the regulatory limit of 100% and within the 125-150% managerial target range . The NSFR20 at circa 124% as of 2Q26 , well above the regulatory limit of 100%.

As of 2Q26, UniCredit has already completed more than €22 billion of its 2026 Group Funding Plan, against an average annual target of approximately €25.5 billion. Issuances were successfully executed across the Group’s main funding hubs, including around €10.8 billion of MREL instruments, enabling the Group to capitalize on supportive market conditions and secure record -tight spreads. The 2Q26 MREL ratio on RWA stood at 30.6%, down 62 bps Q/Q, implying a buffer of 332 bps above regulatory requirement of 27.25%. The 2Q26 MREL ratio on leverage exposure stood at 9.7%, down 22 bps Q/Q with a buffer of 374 bps above regulatory requirement of 6.00%.

20 Based on managerial figures.

10 | P a g e 2Q26 Group Results – Press release

DIVISIONAL HIGHLIGHTS21

ITALY

(€ million) 1H25 1H26 vs 1H25 2Q25 1Q26 2Q26 Q/Q Y/Y Total revenues 5,850 6,016 +2.8% 2,806 2,982 3,033 +1.7% +8.1% o/w Net interest 3,220 3,170 -1.6% 1,582 1,566 1,604 +2.4% +1.4% o/w Fees and net insurance result 2,407 2,756 +14.5% 1,145 1,376 1,380 +0.3% +20.5% Operating costs -1,967 -1,954 -0.7% -984 -977 -977 -0.0% -0.7% Gross operating profit 3,883 4,062 +4.6% 1,823 2,005 2,056 +2.5% +12.8% Loan Loss Provisions -207 -200 -3.2% -104 -100 -100 -0.7% -3.8% Net operating profit 3,677 3,862 +5.0% 1,719 1,905 1,957 +2.7% +13.8% Stated net profit/loss 3,038 2,318 -23.7% 1,779 1,126 1,192 +5.8% -33.0% Net profit/Loss 3,038 2,318 -23.7% 1,779 1,126 1,192 +5.8% -33.0% RoAC 44.1% 31.0% -13.1 p.p. 50.4% 30.8% 31.2% +0.4 p.p. -19.2 p.p.

Cost/income ratio 33.6% 32.5% -1.1 p.p. 35.1% 32.8% 32.2% -0.6 p.p. -2.9 p.p.

Cost of risk (bps) 26 24 -2 26 25 23 -2 -2

GERMANY

(€ million) 1H25 1H26 vs 1H25 2Q25 1Q26 2Q26 Q/Q Y/Y Total revenues 2,855 2,946 +3.2% 1,393 1,496 1,450 -3.1% +4.1% o/w Net interest 1,567 1,652 +5.4% 799 829 823 -0.7% +2.9% o/w Fees and net insurance result 895 1,008 +12.7% 428 525 483 -8.0% +12.7% Operating costs -1,094 -1,041 -4.8% -545 -520 -521 +0.2% -4.3% Gross operating profit 1,761 1,905 +8.2% 849 976 929 -4.9% +9.4% Loan Loss Provisions -80 -146 +83.0% -44 -78 -68 -13.4% +52.6% Net operating profit 1,681 1,759 +4.6% 804 898 861 -4.2% +7.0% Stated net profit/loss 1,112 1,157 +4.1% 524 586 571 -2.6% +8.9% Net profit/Loss 1,112 1,157 +4.1% 524 586 571 -2.6% +8.9% RoAC 23.5% 23.2% -0.3 p.p. 21.3% 24.1% 22.3% -1.8 p.p. +1.0 p.p.

Cost/income ratio 38.3% 35.3% -3.0 p.p. 39.1% 34.7% 35.9% +1.2 p.p. -3.1 p.p.

Cost of risk (bps) 12 22 +9 14 23 20 -4 +6

21 Please consider that (i) all divisional figures in “Divisional Highlights” represent the contribution of each division to Gro up data; (ii) Return on Allocated Capital (RoAC) related to each division and shown in this section is calculated as annualized ra tio between (i) Net profit after capital charges plus excess capital charge (calculated on T1) and (ii) allocated capital, both as defined above. Allocated capital calculated as 13% of R WA plus deductions. Figures of Reclassified consolidated income statement relating to 2025 have been restated, starting from March 2026; please refer to the note to the table “UniCredit Group : consolidated results” for further details.

11 | P a g e 2Q26 Group Results – Press release

CENTRAL AND EASTERN EUROPE

AUSTRIA

(€ million) 1H25 1H26 vs 1H25 2Q25 1Q26 2Q26 Q/Q Y/Y Total revenues 1,321 1,321 +0.0% 659 646 676 +4.6% +2.6% o/w Net interest 713 728 +2.1% 360 358 370 +3.4% +2.8% o/w Fees and net insurance result 387 419 +8.3% 187 214 205 -4.5% +9.4% Operating costs -503 -489 -2.8% -250 -244 -246 +0.8% -1.7% Gross operating profit 817 832 +1.8% 409 402 430 +6.9% +5.2% Loan Loss Provisions 44 38 -13.7% 23 25 13 -45.3% -40.7% Net operating profit 861 870 +1.0% 431 427 443 +3.9% +2.8% Stated net profit/loss 676 739 +9.3% 340 361 378 +4.7% +11.2% Net profit/Loss 676 739 +9.3% 340 361 378 +4.7% +11.2% RoAC 25.0% 26.8% +1.8 p.p. 24.6% 26.6% 26.9% +0.3 p.p. +2.3 p.p.

Cost/income ratio 38.1% 37.0% -1.1 p.p. 37.9% 37.7% 36.4% -1.4 p.p. -1.6 p.p.

Cost of risk (bps) -15 -12 +3 -15 -16 -8 +7 +7

(€ million) 1H25 1H26 vs 1H25

2Q25 1Q26 2Q26 Q/Q Y/Y

at constant FX at constant FX Total revenues 2,356 2,495 +4.9% 1,178 1,240 1,255 +0.9% +5.3% o/w Net interest 1,594 1,687 +4.9% 794 832 855 +2.5% +6.5% o/w Fees and net insurance result 673 745 +9.5% 336 380 364 -4.5% +7.2% Operating costs -825 -823 -1.2% -412 -411 -412 +0.0% -1.1% Gross operating profit 1,531 1,672 +8.2% 766 829 843 +1.3% +8.7% Loan Loss Provisions 39 -56 n.m. 18 -32 -24 -19.8% n.m.

Net operating profit 1,570 1,616 +1.8% 784 797 819 +2.1% +2.9% Stated net profit/loss 1,149 1,121 -2.8% 643 468 653 +37.5% +0.6% Net profit/Loss 1,149 1,121 -2.8% 643 468 653 +37.5% +0.6% RoAC 30.2% 27.4% -2.8 p.p. 32.8% 23.4% 31.4% +7.5 p.p. -1.7 p.p.

Cost/income ratio 35.0% 33.0% -2.0 p.p. 35.0% 33.1% 32.8% -0.3 p.p. -2.1 p.p.

Cost of risk (bps) -11 13 +24 -10 16 11 -3 +22

12 | P a g e 2Q26 Group Results – Press release

GROUP CORPORATE CENTRE (GCC)

RUSSIA

(€ million) 1H25 1H26 vs 1H25

2Q25

1Q26

2Q26

Q/Q Y/Y

at constant FX at constant FX Total revenues 664 428 -39.5% 298 232 196 -21.0% -38.0% o/w Net interest 387 315 -24.0% 196 157 158 -5.7% -24.5% o/w Fees and net insurance result 127 85 -37.0% 60 37 47 +21.5% -23.6% Operating costs -108 -98 -15.0% -54 -49 -49 -6.6% -14.7% Gross operating profit 556 330 -44.3% 244 183 147 -24.9% -43.1% Loan Loss Provisions 19 9 -56.4% 7 9 0 -96.3% -95.5% Net operating profit 575 339 -44.7% 251 192 148 -28.0% -44.6% Stated net profit/loss 472 268 -46.7% 216 145 123 -20.3% -46.2% Net profit/Loss 472 268 -46.7% 216 145 123 -20.3% -46.2% RoAC 14.5% -22.4% -39.2 p.p. -7.1% -17.1% -27.6% -12.8 p.p. -19.6 p.p.

Cost/income ratio 16.3% 22.9% +6.6 p.p. 18.1% 21.2% 24.9% +3.9 p.p. +6.8 p.p.

Cost of risk (bps) -332 -316 +13 -234 -579 -29 +527 +221

(€ million) 1H25 1H26 vs 1H25 2Q25 1Q26 2Q26 Q/Q Y/Y Total revenues -345 188 n.m. -220 276 -88 n.m. -60.0% Operating costs -139 -190 +36.8% -71 -96 -94 -1.6% +33.4% Gross operating profit -484 -2 -99.6% -290 180 -182 n.m. -37.3% Loan Loss Provisions -8 -22 n.m. -8 -8 -15 +92.6% +73.2% Stated net profit/loss -332 520 n.m. -157 532 -11 n.m. -92.9% Net profit/Loss -332 520 n.m. -157 531 -11 n.m. -93.3%

FTE 7,884 7,848 -0.5% 7,884 7,774 7,848 +1.0% -0.5%

Costs GCC/total costs 3.0% 4.1% +1.1 p.p. 3.1% 4.2% 4.1% -0.1 p.p. +1.0 p.p.

13 | P a g e 2Q26 Group Results – Press release

SIGNIFICANT EVENTS DURING AND AFTER 2Q26

With reference to the main events that occurred during 2Q26 and after 30 June 2026, refer to section “Subsequent events” in the Consolidated interim report on operations, which is an integral part of the Consolidated first half financial report as of 30 Ju ne 2026, as well as the press releases published on the UniCredit Group website.

ECONOMIC OUTLOOK

The global economy remains exposed to a range of risks, with global energy markets particularly vulnerable to spillover from tensions in the Middle East. This remains the case despite US -Iranian efforts that resulted in a memorandum of understanding in mid -June and helped pull energy prices down from the highs reached between March and May. Against this backdrop, our baseline scenario assumes that US growth will remain resilient, at 2.2% in 2026 and 2.0% in 2027, supported by the investment cycle linked to artificial intelligence and by the continued strength of private consumption. Inflation is expected to average 3.6% in 2026 and 2.5% in 2027. Kevin Warsh has taken over as chair of the Federal Reserve and has signalled his intention to introduce changes to the Fed’s operating framework, while reaffirming its commitment to keeping inflation under control. We expect US policy rates to remain unchanged throughout the forecasting horizon. In China, we continue to forecast that growth will moderate to 4.6% in 20 26 and 4.2% in 2027, down from 5.0% in 2025. The industrial sector remains the main engine of growth, supported by robust global demand for Chinese green -energy products, while domestic demand remains weak.

We expect euro area GDP growth, excluding Ireland, to average 0.9% in 2026 and to accelerate to 1.2% in 2027. Investment should remain well supported by Germany’s fiscal bazooka, the Next Generation EU programme, and the favourable trend in corporate ICT s pending. Households are likely to adopt a more cautious stance amid rising inflation, but private consumption should continue to expand thanks to the resilience of the labour market. In Italy, following a solid start to the year, economic activity is expec ted to weaken in the second and third quarters. On an annual basis, we forecast GDP growth of 0.5% in 2026 and 0.7% in 2027. Over the course of this year, growth in private consumption and the services sector will be affected by the energy shock. Exports a re expected to remain weak, held back by uncertainty surrounding US trade policy, while investment should continue to benefit from the implementation of Italy’s National Recovery and Resilience Plan.

In the euro area, inflation is expected to stabilise at around 3% in the second half of the year before gradually returning to 2% by mid -2027. We foresee one final 25 bps ECB rate hike in September.

14 | P a g e 2Q26 Group Results – Press release

UNICREDIT GROUP TABLES

UNICREDIT GROUP: RECLASSIFIED INCOME STATEMENT

Note: Figures of Reclassified consolidated income statement relating to 2025 have been restated, starting from March 2026, mainly w ith the effects of the:

• shift from Trading income to Net interest of amounts related to net result of commodity linked derivatives;

• shift from Net interest to Trading income of the cost of funding related to certificates;

interest);

(€ million) 1H25 1H26 1H/1H 2Q25 1Q26 2Q26 Q/Q Y/Y Net interest 7,304 7,245 -0.8% 3,643 3,587 3,658 +2.0% +0.4% Dividends 446 1,117 n.m. 317 408 709 +73.8% n.m.

Fees 4,477 4,782 +6.8% 2,149 2,431 2,350 -3.3% +9.3% Net insurance results - 184 n.a. - 78 106 +36.9% n.a.

Trading income 514 229 -55.4% 18 476 (246) n.m. n.m.

Other expenses/income (40) (163) n.m. (12) (107) (56) -47.7% n.m.

Revenue 12,701 13,394 +5.5% 6,115 6,873 6,521 -5.1% +6.6% HR costs (2,865) (2,849) -0.5% (1,429) (1,431) (1,418) -0.9% -0.8% Non HR costs (1,301) (1,297) -0.3% (653) (639) (658) +3.0% +0.7% Recovery of expenses 43 37 -13.5% 22 16 21 +34.2% -2.4% Amortisations and depreciations (513) (486) -5.3% (254) (243) (244) +0.5% -4.2% Operating costs (4,636) (4,595) -0.9% (2,315) (2,297) (2,298) +0.1% -0.7%

GROSS OPERATING PROFIT (LOSS) 8,065 8,799 +9.1% 3,800 4,576 4,223 -7.7% +11.1%

Loan Loss Provisions (LLPs) (192) (377) +96.2% (109) (185) (192) +4.0% +76.3%

NET OPERATING PROFIT (LOSS) 7,873 8,422 +7.0% 3,691 4,392 4,031 -8.2% +9.2%

Other charges and provisions (442) (296) -33.1% (235) (257) (39) -84.7% -83.3% of which: systemic charges (227) (299) +31.8% (40) (237) (61) -74.1% +55.0% Integration costs (70) (85) +20.4% (40) (23) (61) n.m. +53.5% Net income from investments 846 220 -74.0% 877 200 20 -89.8% -97.7%

PROFIT (LOSS) BEFORE TAX 8,206 8,262 +0.7% 4,293 4,311 3,951 -8.4% -8.0%

Income taxes (2,058) (2,012) -2.2% (934) (1,031) (981) -4.8% +5.0% Profit (Loss) of discontinued operations - - n.a. - - - n.a. n.a.

NET PROFIT (LOSS) FOR THE PERIOD 6,149 6,250 +1.6% 3,359 3,280 2,970 -9.5% -11.6%

Minorities (34) (32) -4.4% (15) (16) (16) -1.7% +4.3%

NET PROFIT (LOSS) ATTRIBUTABLE TO THE

GROUP BEFORE PPA 6,115 6,218 +1.7% 3,344 3,264 2,954 -9.5% -11.7%

Purchase Price Allocation (PPA) - (95) n.a. - (46) (48) +4.0% n.a.

Goodwill impairment - - n.a. - - - n.a. n.a.

GROUP STATED NET PROFIT (LOSS) 6,115 6,123 +0.1% 3,344 3,218 2,905 -9.7% -13.1%

15 | P a g e 2Q26 Group Results – Press release

UNICREDIT GROUP: RECLASSIFIED BALANCE SHEET

(€ million) 2Q25 1Q26 2Q26 Q/Q Y/Y

ASSETS

Cash and cash balances 41,804 48,180 45,864 -4.8% +9.7% Financial assets held for trading 60,371 67,924 74,569 +9.8% +23.5% Loans to banks 58,779 52,535 52,132 -0.8% -11.3% Loans to customers 433,153 447,786 475,850 +6.3% +9.9% Other financial assets 231,231 248,703 246,413 -0.9% +6.6% Hedging instruments (1,711) (2,788 ) (2,460) -11.8% +43.7% Insurance assets 164 159 161 +1.0% -2.3% Property, plant and equipment 8,824 8,760 8,601 -1.8% -2.5% Goodwill 1,091 841 840 -0.1% -23.0% Other intangible assets 2,180 2,071 2,077 +0.3% -4.7% Tax assets 9,914 9,881 9,711 -1.7% -2.1% Non-current assets and disposal groups classified as held for sale 949 230 274 +19.3% -71.2% Other assets 13,579 17,883 18,059 +1.0% +33.0% Total assets 860,328 902,165 932,091 +3.3% +8.3%

LIABILITIES AND SHAREHOLDERS' EQUITY

Deposits from banks 85,862 57,901 52,377 -9.5% -39.0% Deposits from customers 494,291 547,407 564,576 +3.1% +14.2% Debt securities issued 96,015 102,133 109,464 +7.2% +14.0% Financial liabilities held for trading 34,426 41,021 46,733 +13.9% +35.7% Other financial liabilities 23,677 27,521 25,511 -7.3% +7.7% Hedging instruments (7,801) (10,160 ) (7,246) -28.7% -7.1% Tax liabilities 2,413 3,040 2,789 -8.3% +15.6% Liabilities included in disposal groups classified as held for sale 373 1 0 -84.8% -100.0% Other liabilities 26,390 23,963 26,356 +10.0% -0.1% Insurance liabilities 36,264 40,531 40,715 +0.5% +12.3% Minorities 395 383 393 +2.5% -0.6% Group Shareholders' Equity: 68,023 68,424 70,423 +2.9% +3.5%

- Capital and reserves 61,908 65,206 64,300 -1.4% +3.9%

- Group stated net profit (loss) 6,115 3,218 6,123 +90.3% +0.1% Total liabilities and Shareholders' Equity 860,328 902,165 932,091 +3.3% +8.3%

16 | P a g e 2Q26 Group Results – Press release

UNICREDIT GROUP: SOVEREIGN DEBT SECURITIES – BREAKDOWN BY COUNTRY/PORTFOLIO

With reference to the Group’s sovereign exposures22, the book value of sovereign debt securities as at 30 June 2026 amounted to €131,548 million (of which €127,672 million classified in the banking book23), over the 72% of it concentrated in eight countries; Italy, with €43,400 million, represents about 33% of the total. For each of the eight countries, the following table shows the book value and the fair value of the exposures broken down by portfolio as at 30 June 2026.

22 Information on Sovereign exposures refers to the scope of the UniCredit Consolidated First Half Financial Report as at 30 Jun e 2026, determined under IAS/IFRS.

Sovereign exposures are bonds issued by and loans given to central and local governments and governamental bodies.

To the purpose of this risk exposure are not included:

• Sovereign exposures and Group’s Legal entities classified as held for sale as at 30 June 2026, if any • ABSs, if any.

23 The banking book includes financial assets designated at fair value, those mandatorily at fair value, those at fair value thr ough other comprehensive income and those at amortised cost.

17 | P a g e 2Q26 Group Results – Press release

(€ million) Book value Fair Value As of June 30 2026

- Italy 43,400 43,661 financial assets/liabilities held for trading (net exposures*) 914 914 financial assets designated at fair value - -

financial assets mandatorily at fair value 840 840 financial assets at fair value through other comprehensive income 21,937 21,937 financial assets at amortised cost 19,709 19,970

- Spain 17,371 17,406 financial assets/liabilities held for trading (net exposures*) 52 52 financial assets designated at fair value - -

financial assets mandatorily at fair value 172 172 financial assets at fair value through other comprehensive income 7,272 7,272 financial assets at amortised cost 9,875 9,910

- France 9,433 9,334 financial assets/liabilities held for trading (net exposures*) 1,066 1,066 financial assets designated at fair value - -

financial assets mandatorily at fair value 255 255 financial assets at fair value through other comprehensive income 4,782 4,782 financial assets at amortised cost 3,330 3,231

- Germany 8,079 7,996 financial assets/liabilities held for trading (net exposures*) 266 266 financial assets designated at fair value - -

financial assets mandatorily at fair value 398 398 financial assets at fair value through other comprehensive income 3,054 3,054 financial assets at amortised cost 4,361 4,278

- Czech Republic 4,985 4,995 financial assets/liabilities held for trading (net exposures*) 32 32 financial assets designated at fair value - -

financial assets mandatorily at fair value - -

financial assets at fair value through other comprehensive income 2,796 2,796 financial assets at amortised cost 2,157 2,167

- Austria 4,628 4,609 financial assets/liabilities held for trading (net exposures*) 19 19 financial assets designated at fair value - -

financial assets mandatorily at fair value 69 69 financial assets at fair value through other comprehensive income 2,559 2,559 financial assets at amortised cost 1,981 1,962

- Bulgaria 3,626 3,611 financial assets/liabilities held for trading (net exposures*) 4 4 financial assets designated at fair value - -

financial assets mandatorily at fair value 1 1 financial assets at fair value through other comprehensive income 1,569 1,569 financial assets at amortised cost 2,052 2,037

- U.S.A. 3,350 3,350

financial assets/liabilities held for trading (net exposures*) 958 958 financial assets designated at fair value - -

financial assets mandatorily at fair value 39 39 financial assets at fair value through other comprehensive income 1,055 1,055 financial assets at amortised cost 1,298 1,298 Total on -balance sheet exposures 94,872 94,962

Note: (*) Including exposures in Credit Derivatives. In case of negative amount, it indicates the prevalence of liabilities positio ns.

18 | P a g e 2Q26 Group Results – Press release

UNICREDIT GROUP: WEIGHTED DURATION

The weighted duration of the sovereign bonds shown in the table above, divided by the banking and trading book, is the following:

Weighted duration

(years) Banking Book Trading Book Assets positions Liabilities positions − Italy 3.86 6.94 7.82 − Spain 6.06 13.82 11.43 − France 5.95 9.94 18.45 − Germany 4.47 8.12 7.45 − Czech Republic 5.16 3.40 3.14 − Austria 7.14 9.97 1.76 − Bulgaria 4.57 8.90 7.67

− U.S.A. 8.69 11.13 0.00

The remaining 28% of the total of sovereign debt securities, amounting to €36,676 million with reference to the book values as at 30 June 2026, is divided into 52 countries, including Romania (€3,331 million), Croatia (€3,157 million), Slovakia (€2,619 mil lion), Hungary (€2,497 million), Poland (€2,164 million), Belgium (€1,757 million), Serbia (€958 million), Portugal (€851 million), Bosnia and Hercegovina (€659 million), Slovenia (€606 million) and Finland (€599 million).

With respect to these exposures, as at 30 June 2026 there were no indications that default have occurred and the Group is closely monitoring the evolution of the situation.

With particular reference to the book value of the sovereign debt securities exposure to Russia amounting to €503 million as at 30 June 2026, it should be noted that it is almost totally held by the Russian controlled bank in local currency and classified in the banking book.

It should also be noted that among the aforementioned remaining part of sovereign debt securities as at 30 June 2026 there are also debt securities towards Supranational Organisations such as the European Union, the European Financial Stability Facility an d the European Stability Mechanism amounting to €14,958 million.

In addition to the exposures to sovereign debt securities, loans24 given to central and local governments and governmental bodies must be taken into account, amounting to €28,216 million as at 30 June 2026, of which over 73% to Germany, Austria and Italy.

UNICREDIT GROUP: RATINGS

Short -term Medium and Outlook Standalone debt long -term debt Rating Standard & Poor's A-2 A- Positive a-

Moody's P-2 A3 Under Review * baa2* Fitch Ratings F2 A- Stable a-

*Outlook moved from Stable to Under Review, as Review for Upgrade is opened for Standalone Rating

24 tax items are not included.

19 | P a g e 2Q26 Group Results – Press release

GENERAL NOTES

• CET1 ratio fully loaded up to 4Q24. Since 1 January 2025 based on “Regulation (EU) 2024/1623 of the European Parliament and of the Council of 31 May 2024 ” - CRR3 (no transitional rules applied to CET1, RWA including transitional rules, art. 465 and 495) .

• Numbers throughout the press release may not add up precisely to the totals provided in tables and text due to rounding.

• Russia includes the local bank and legal entities, plus the cross -border exposure booked in UniCredit SpA.

• Shareholders distribution subject to supervisory , board of directors and shareholder s approval.

• Q/Q means: current quarter versus previous quarter (in this document equal to 2Q26 versus 1Q26) • Y/Y means: current quarter of the current year versus the same quarter of the previous year (in this document equal to 2Q26 versus 2Q25)

MAIN DEFIN ITIONS

• Allocated capital calculated as 13.0% of RWA plus deductions.

• AuA means asset under advisory .

• AuC means asset under custody .

• AuM means asset under management .

• Average commercial deposits (excluding repurchase agreements – repos) are managerial figures and are calculated as daily averages. Deposits net of Group bonds are placed by the network.

• Average gross commercial performing loans defined as average stock calculated as daily average for the period of performing loans to commercial clients (e.g., excluding markets counterparts and operations); managerial figures, key driver of the NII generated by the network activity.

• Client Hedging Fees refers to the client markup on client hedging transactions. The client markup is the difference between the final price to the client and the offer price , containing bid/ask spread , market risk hedging costs and day one XVA.

• Cost of risk (“CoR”) is based on reclassified P&L and Balance sheet, calculated as (i) LLPs of the period (annuali sed in the interim periods) over (ii) average loans to customers (including active repos, excluding debt securities and IFRS5 reclassified assets).

• Coverage ratio (on NPE) defined as stock of LLPs on NPEs over gross NPEs excluding IFRS5 reclassified assets.

• Dividend per share ( “DPS”) calculated as end -of-reference -period cash dividend amount accrued, divided by the number of outstanding shares eligible for cash dividend payments, as at the end -of-

reference -period (i.e. excluding treasury shares bought back as of the same date, excludi ng the ordinary shares underlying the Usufruct contract (Cashes)).

• DTA TLCF means deferred tax assets from tax loss carry forward recognized as the result of the sustainability test.

• Earnings per share (“ EPS”) calculated as net profit - as defined below - on average number of outstanding shares excluding average treasury and CASHES usufruct shares.

• Fees & net insurance result means the sum of Fees and net insurance result P&L lines.

• FTE - Full Time Equivalent means the number of a company’s full -time employees. Employees not full-time are considered on a pro -rata temporis basis.

• GOP means gross operating profit.

• Gross Non-Performing Exposure (“Gross NPE ”) defined as non -performing exposures before deduction of provisions comprising bad loans, unlikely to pay, and past due; including only loans to

20 | P a g e 2Q26 Group Results – Press release

customers (including repurchase agreements – repos, excluding debt securities and IFRS5 reclassified assets ).

• Gross Non-Performing Exposure ratio (“Gross NPE ratio ”) defined as (i) gross NPEs over (ii) gross loans to customers (including repurchase agreements – repos , excluding debt securities and IFRS5 reclassified assets ).

• IFRS5 reclassified assets means exposures classified as Held for Sale.

• Liquidity Coverage ratio (“ LCR”) defined as (i) high -quality liquid assets (HQLA) over (ii) net cash outflows expected over the coming 30 days, under stress test conditions.

• Minimum requirement for eligible liabilities (“MREL”) means minimum requirements for own funds and eligible liabilities, is designed to ensure that there are sufficient resources to write down or convert into equity relevant financial instruments if a bank or other financial institution is in crisis.

This allows the competent Authorities to intervene quickly in order to maintain the critical operations of that institution, without using tax money.

• Net Non-Performing Exposure (“Net NPE ”) defined as loans to customers non-performing exposures after deduction of provisions, comprising bad loans, unlikely to pay and past due (including active repurchase agreements – repos , excluding debt securities and IFRS5 reclassified assets).

• Net Non-Performing Exposure ratio ( “Net NPE ratio ”) defined as (i) Net NPEs over (ii) total net loans (including repurchase agreements – repos), excluding debt securities and IFRS5 reclassified assets.

• Net profit means stated net profit adjusted for impacts from DTAs tax loss carry forward (“TLCF”) resulting from sustainability test.

• Net profit after AT1/CASHES means net profit as defined above adjusted for impacts from AT1 and Cashes coupons. The result is used for RoTE calculation.

• Net profit after capital charges means Net Profit plus AT1 charge (allocation of cost of Coupons for AT1 issuance) plus Group T2/SP/SNP charge (allocation of T2, SP, SNP issuances cost to meet Group Regulatory Capital Requirements) minus local iMREL costs (sterilization of cost over Euri bor 3 months for Local issuances for regulatory requirements of T2 and SNP). Used as numerator for RoAC calculation only.

• Net revenue means (i) revenue s minus (ii) loan loss provisions (LLPs).

• Net Stable Funding Ratio (“ NSFR ”) defined as (i) available amount of stable funding over (ii) the required amount of stable funding that are calculated applying defined weighting factors to on and off-balance sheet items. The relevant instructions for its calculation are included in the Regulation (EU) 876/2019 of the European Parliament.

• NOP means net operating profit.

• NPE means non-performing exposure.

• Organic capital generation for the Group is calculated as (Net profit, as defined above, minus delta RWA excluding Regulatory impacts and PD scenario impacts x CET1r actual)/ RW A BoP .

• Pass -through calculated as average cost of total deposits on average Euribor 3M or equivalent interest rate in the period. Deposit amount including term and sight products.

• PD scenario means the impacts deriving from probability of default scenario, including rating dynamics.

• Regulatory impacts are impacts mostly driven by regulatory changes and model maintenance, shortfall, and calendar provisioning (impacting on capital).

• Return on Allocated Capital (“ RoAC ”) means annualized ratio between (i) Net profit after capital charges plus excess capital charge (calculated on T1 ) and (ii) allocated capital, both as defined above.

21 | P a g e 2Q26 Group Results – Press release

• Return on Tangible Equity (“ RoTE ”) means (i) net profit after AT1/Cashes coupons [as defined above] over (ii) average Accounting tangible equity (equal to Shareholders' equity minus Goodwill minus Intangible minus HFS intangible minus AT1) minus Cashes minus accrued dividends and buybacks.

• Share buy -back defined as repurchasing of shares by the company that issued them to reduce the number of shares available on the open market.

• Stated net profit means accounting net profit.

• Tangible book value per share for Group calculated as end-of-period tangible equity over end-of-

period number of outstanding shares excluding treasury shares.

• Tangible equity for Group calculated as shareholders’ equity (including Group Stated profit of the period) minus intangible assets (goodwill and other intangibles), minus AT1 component.

22 | P a g e 2Q26 Group Results – Press release

DECLARATION BY THE MANAGER CHARGED WITH PREPARING THE FINANCIAL REPORTS

The undersigned, Bonifacio Di Francescantonio , in his capacity as the Manager charged with preparing UniCredit S.p.A.’s financial reports

DECLARES

that, pursuant to article 154 bis, paragraph 2, of the “Consolidated Law on Finance”, the information disclosed in this document corresponds to the accounting documents, books, and records.

Milan, 22 July 2026

Manager charged with preparing the financial reports

Fine Comunicato n.0263-98-2026 Numero di Pagine: 24