The figures outlined in this document: - include the effects of the restructuring of the banking business, approved by the Boards of Directors of

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2 The figures outlined in this document: - include the effects of the restructuring of the banking business, approved by the Boards of Directors of Unipol and UnipolSai on 28 July 2017; - do not include the effects of the streamlining of the Group insurance business as approved by the Boards of Unipol and UnipolSai on 29 June 2017, which is expected to be completed by the end of the current financial year, subject to IVASS authorizations.

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4 m a normalized Consolidated pre-tax result Non-Life Life Banking Holding and other Consolidated net result Group net result a normalized Consolidated pre-tax result Non-Life Life Other Consolidated net result Group net result a Figures restated excluding the impact of the restructuring of the Group banking sector

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6 m 5,590 5, % 8% 7% 5,141 5, % 9% 8% 3,147 2,443 3,070 2, % +3.2% 13% 17% 55% 3,023 2,932 2,118 2, % +2.8% 14% 12% 57% MV Non-MV MV Accident and Health Property General TPL Other MV Non-MV MV Accident and Health Property General TPL Other Premiums by company UnipolSai (group) 5,141 5,109 Linear UniSalute Arca Unipol 5,590 5,590 Premiums by company UnipolSai S.p.A. 4,951 4,870 Other companies UnipolSai 5,141 5,109

7 large & natcat claims up by 1.7 pp large & natcat claims up by 1.8 pp 95.0% 96.4% 96.0% 97.3% Expense Ratio 26.5% 26.3% Expense Ratio 27.4% 27.1% Loss Ratio 68.5% 70.1% Loss Ratio 68.6% 70.3% Combined Ratio direct business Combined Ratio direct business Combined ratio net of reinsurance: operating expenses/earned premiums after reinsurance+claims charges/earned premiums after reinsurance

8 m Premium income MV Accident & Health Other CoR direct business 85.0% 85.6% Expense ratio 17.1% 17.0% Loss ratio (incl. OTI) 68.0% 68.6% IAS net result Aggregate operating figures (Unisalute+ Linear + Arca Assicurazioni)

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10 m -42.5% 15% 7% -31.4% 18% 8% 5,552 3,195 20% 58% 3,899 2,674 14% 60% Traditional Pension funds Traditional Pension funds Unit linked Capitalization Unit linked Capitalization Income by company UnipolSai (group) 3,899 2,674 Arca Vita + AVI 1, Unipol 5,552 3,195 Income by company UnipolSai S.p.A. 2,210 2,029 Popolare Vita + Lawr. Life 1, Other companies UnipolSai 3,899 2,674 On the 29 June 2017, the BoD of UnipolSai approved the termination of the agreement with Banco BPM and the exercising of the put option on its stake in Popolare Vita

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12 m Direct deposits Indirect deposits Net loans a +10.2% -0.9% -10.7% 10,535 11,609 50,611 50,152 8,579 7,664 FY16 FY16 FY16 normalized Gross operating income Net result CET1 ratio Unipol CET1 ratio b interest income normalized non-interest income Unipol Banca CET1 ratio * The banking business is comprised of Unipol Banca, its subsidiaries and UnipolSai Investimenti SGR Operating figures a net of loans to the parent company b CET 1 ratio at Unipol level. CET 1 ratio at Finsoe level is equal to 13.5%

13 m FY16 net loans gross loans coverage ratio net loans gross loans coverage ratio Bad loans (Sofferenze) Unlikely to pay Past due Total NPEs 1,127 2,651 57% % % 2,040 3,760 46% 596 2,969 80% % % 1,131 3,816 70% * The banking business is comprised of Unipol Banca, its subsidiaries and UnipolSai Investimenti SGR Operating figures Including provisions made by Unipol S.p.A.

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15 Total investments 61.4 bn 3.2% 1.1% Total investments 52.4 bn 3.6% 1.3% Bonds Real Estate 6.8% 4.8% Bonds Real Estate 7.7% 4.7% Cash Cash Equity and funds Other 84.1% Equity and funds Other 87.7% 82.7% Breakdown of bond portfolio Breakdown of bond portfolio Italian govies Non-Italian govies Corporate 28.6% 10.7% 60.7% Italian govies Non-Italian govies Corporate 30.1% 8.9% 77,9% 61.0% 67.7% 67.5% Operating figures

16 Coupons and dividends Realized and unrealized gains/losses Non-Life Life Total m Yield% m Yield% m Yield% % % 1, % % % % Total % 1, % 1, % Coupons and dividends Realized and unrealized gains/losses Non-Life Life Total m Yield% m Yield% m Yield% % % 1, % % % % Total % % 1, % Figures net of the Atlante Fund write-down amounting to 62 m

17 Development of RE portfolio Breakdown by cluster Breakdown by sector m FY16 4,355 investments purchases sales a % 9% 13% 29% 42% Core Core instrum. Value Added 28% Trading Land and Development 6% 5% 61% Non-Life Real Esate Altri settori Life depreciations -55 write-downs -6 Breakdown by use Breakdown by area other b -41 4,162 Breakdown by ownership UnipolSai 97% Unipol 3% 5% 1% 5% 3% 11% 11% 16% 48% Offices Hotel Residential Land Other RE investm. Condos and ind. Health centres Commercial 7% 1% 8% 13% 15% 18% 38% Milan Other Bologna Florence Rome Turin Non-domestic a No. 73 deeds as at 30 September b Including exchange variation and operations on RE funds and associated SPV Operating figures

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19 bn 6, , Own Funds SCR Excess Own Funds SCR Excess Solvency Capital Requirements (SCR)

20 bn Own Funds SCR Excess Own Funds SCR Excess Solvency Capital Requirements (SCR)

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22 m a normalized Consolidated net result Group net result Premium income direct business 11,142 8,785 o/w Non-Life 5,590 5,590 o/w Life 5,552 3,195 Combined Ratio 95.0% 96.4% a normalized Consolidated net result Group net result Premium income direct business 9,040 7,783 o/w Non-Life 5,141 5,109 o/w Life 3,899 2,674 Combined Ratio 96.0% 97.3% FY16 normalized Total equity 8,134 7,480 8,260 Shareholder s equity 5,649 5,266 6,016 FY16 normalized Total equity 6,535 6,653 6,759 Shareholder s equity 6,156 6,338 6,444 a Figures restated excluding the impacts of the restructuring of the Group banking sector

23 UNIPOL UNIPOL 100% 98.53% 57.75% 63.39% 57.75% 57.75% 63.39% Linear Unisalute Unipol Banca Arca Vita Unipol Banca NewCo Arca Vita 42.25% b Arca Ass.ni 42.25% b 42.25% b Arca Ass.ni 71.02% a 71.02% a UNIPOLSAI UNIPOLSAI 50% 50% 100% 98.53% Popolare Vita Other ancillary companies Popolare Vita Linear Unisalute Lawrence Life Lawrence Life Other Non-Life & Life companies Real Estate Diversified businesses Other Non-Life & Life companies Other ancillary companies Real Estate Diversified businesses Restructuring of the banking business Streamlining of the insurance business a Including the shares held by Unipol Finance and Unipol Investment b O/w 27.49% is the subject of a put option granted by Unipol to UnipolSai and of a call option granted by UnipolSai to Unipol.

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