2021 preliminary full-year Group consolidated results approved

NET PROFIT OF € 525.1 MLN

Proposal for a cash dividend of € 6 cents per share

SHARP INCREASE IN CORE BUSINESS PROFITABILITY DRIVEN BY EXCELLENT COMMERCIAL PERFORMANCE AND MAJOR ENHANCEMENT OF COMPETITIVE POSITION

FOUNDATIONS LAID FOR STRUCTURAL IMPROVEMENT OF OPERATIONAL EFFICIENCY

Profit before tax up to € 692.9 mln (approx. € 580 mln net of non-recurring items)

Operating income increased to € 3.4 bn, with net commissions strongly on the rise, driven by asset management and bancassurance

FURTHER IMPROVEMENT IN CREDIT QUALITY: NPE RATIO DOWN SIGNIFICANTLY AS COVERAGE GROWS

GROSS NPE RATIO OF 4.9% (2.0% NET) VS. 7.8% (4.0% NET) AT THE END OF 2020

NPE COVERAGE OF 60.4% VS. 51.0% AT THE END OF 2020

• Further uptrend in the coverage of both bad loans and UTPs in 4Q21, respectively settling at 71.8% (63.0% at end-September 2021) and 50.4% (48.4% at end-September 2021)
• Default rate of 0.9% vs.1.0% at the end of 2020
• Texas ratio down to 45.6% (55.4% at the end of 2020)
• Ordinary cost of credit at 67 bps, driven by a particularly conservative approach to provisioning

SOUND CAPITAL POSITION

PROFORMA FULLY PHASED CET1 RATIO: 13.5% (14.5% PHASED IN)

THE BANK’S COMMITMENT TO SUPPORTING THE ONGOING ECONOMIC RECOVERY CONTINUES

• Acceleration in new loans granted in 4Q21 (+57.4% q/q)
• State-guaranteed loans total € 7.3 bn (9.2% of total loans to customers)

INDIRECT FUNDING REACHES € 166.3 BN, DRIVEN BY GROWTH IN ASSET MANAGEMENT AND LIFE BANCASSURANCE, UP FURTHER IN 4Q21 (+1.2% Q/Q)

• Net inflows total € 2.1 bn, almost twice the amount of last year