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Banking that matters . MILAN , 28 OCTOBER 2021 UniCredit UNICREDIT : 3021 & 9M21 GROUP RESULTS CONTINUED STRONG COMMERCIAL PERFORMANCE SUPPORTS PROFITABILITY Further progress in simplifying and empowering the organisation , building momentum in executing on our strategic levers 3Q21 underlying net profit¹ of € 1.1 billion , with revenues at € 4.4 billion , and costs at € 2.4 billion . 9M21 gross operating profit at € 6.2 billion up 11.5 per cent 9M / 9M and underlying ROTE² at 7.9 per cent Confirmed strong capital and liquidity position , with 3Q21 fully loaded CET1 ratio at 15.5 per cent³ and a fully loaded CET1 MDA buffer at 647 basis points4 FY21 total revenues guidance updated to circa € 17.5 billion and costs in line with previous guidance confirmed at € 9.9 billion FY21 underlying Cost of Risk5 guidance further improved to circa 30 basis points . FY21 underlying net profit guidance increased to above € 3.7 billion On 27 October 2021 , the Board of Directors of UniCredit S.p.A. ( “ UniCredit ” or “ the Group " ) approved the 3Q21 and 9M21 Consolidated Results as at 30 September 2021 . The Bank's ambition remains to deliver sustainable returns above the cost of equity over the cycle , by optimising the combination of risk - adjusted revenue growth , operational efficiency and capital efficiency . Simplification , client centricity and digitalisation remain our three guiding principles . The new strategic plan will be presented at our virtual Strategy Day on 09 December 2021 . In 3Q21 underlying net profit¹ reached € 1.1 billion , up 0.5 per quarter on quarter , and € 3.1 billion in the first nine months , equivalent to an underlying 9M21 ROTE² of 7.9 per cent . The excellent commercial performance , reflecting the strengths of our unique pan - European franchise , led to € 4.4 billion of revenues in 3Q21 . Fees delivered another very robust result , despite the third quarter being usually seasonally weak , and NIIº had a positive quarter sequentially . ¹ Underlying net profit is the basis for the ordinary capital distribution policy . Underlying net profit normalised for 3Q21 one - offs ( - € 48 m ) . 2 Based on underlying net profit . 3 CET1 fully loaded includes the deduction for the accrued cash components of ordinary capital distribution ( 30 per cent of underlying net profit ) . Indeed , ordinary capital distribution policy is equal to 50 per cent of underlying net profit , o / w max 30 per cent cash and min 20 per cent share buyback ; however , since the authorisation for share buyback will be requested in 2022 , the Own Funds deduction does not include the related amount . 4 MDA buffer is relevant for regulatory purposes only versus the CET1 ratio transitional . 3021 CET1 MDA transitional buffer at 711 bps . CET1 MDA requirements at 9.03 per cent in 3Q21 . 5 Underlying CoR : defined as stated CoR excluding regulatory headwinds . 6Net contribution from hedging strategy of non - maturity deposits in 3Q21 at € 359.7 m , € 8.4 m Q / Q and + € 4.7 m Y / Y . 1 | Page Consolidated interim report as at 30 September 2021 - Press release