Press Release THE BOARD OF DIRECTORS UNANIMOUSLY APPROVED THE RESULTS OF THE FIRST HALF OF 2013.

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1 Press Release THE BOARD OF DIRECTORS UNANIMOUSLY APPROVED THE RESULTS OF THE FIRST HALF OF IMPROVEMENT IN OPERATING PERFORMANCE AND SIGNIFICANT CAPITAL STRENGTHENING. CHAIRMAN ZONIN: THE SIGNIFICANT GROWTH IN THE HALF YEAR S PROFIT WAS PRUDENTIALLY ALLOCATED TO PROVISIONS ON LOANS. Capital: the capital strengthening operation was completed successfully Members and Customers: further significant growth in the numbers of Members and Customers Loans: support to local businesses and households was renewed Funding: direct deposits and assets under management continued to grow Liquidity: structural liquidity was further strengthened Profitability: improvement in Net profit from operating activities Costs: constant focus on containing operating costs Provisions: rigorous provisions policy in a still uncertain economic environment Net income: positive, taking into account the higher prudential In a very short time, Euro 506 million were obtained, of which Euro 253 million for the capital increase and Euro 253 million for the convertible bond. Pro forma Core Tier 1 at 30 June 2013 at 9% (including the capital increase of Euro 253 million). The number of Members/Shareholders grew by 7,937 in the past 12 months (+3,125 compared to 31 December 2012), reaching 76,399. Since the start of the year, the number of customers increased by 53,000 (+41,000 in the first half of 2012), bring the total to approximately 1.3 million. Loans continue to grow (+1.6% since 31 December 2012), in contrast with the negative average figure of the Italian banking system as a whole (-2.1%). Direct deposits +2.6% since the start of the year (+12.3% in the past twelve months). Assets under management +8.5% since the start of the year (+17.5% in the past twelve-months). Overall loans/direct deposits ratio amounts to 93.9%, (from 94.8% at 31 December 2012) and the loans/retail direct deposits ratio 1 amounts to 117.4%, an improvement by 4.6 percentage points from the figure of December Euro million (+9.6% from June 2012), thanks to the growth in operating income and to the cost reduction. Administrative costs -1.4% from June 2012, with further improvement in cost income, down to 58.8% (-2.0 percentage points from the first half of 2012). Adjustments to loans at Euro million (+97.3%). Cost of credit 2 at 1.24%, a significant rise from 0.71% in December Coverage on non performing loans improved. Income from operating activities grew compared to the first half of 2012, with net income at Euro 1.6 million because of the 1 Ratio between loans, net of payables and receivables with Cassa di Compensazione e Garanzia, and retail direct deposits, i.e. direct deposits after bonds placed on the Euromarket, Private Placement and repos with Cassa di Compensazione e Garanzia. 2 Ratio between net adjustments on loans and advances to customers and gross loans and advances to customers (excluding guarantee margins and repurchase agreements) Page 1 of 9

2 provisions on loans significant prudential provisions on loans, made in order to strengthen capital and protect share value. Consolidated income statement, June 2013 Comparison with June 2012 Net profit from operating activities million +9.6% Operating income million +2.9% Net operating costs million -1.1% Adjustments to loans million +97.3% Cost of credit 1.24% p.p. Net income 1.6 million n.s. Cost income 58.8% -2.0 p.p. Consolidated balance sheet and structural figures, June 2013 Comparison with December 2012 Loans to customers 31.2 billion +1.6% Direct deposits 33.2 billion +2.6% Assets under management 2.6 billion +8.5% Shareholders equity (excluding net income) 3,220 million - Pro forma Core Tier 1 ratio 3 at 30 June % p.p. Number of outlets Number of employees 5,498 - Number of customers 1,277, % Number of BPVi Members/Shareholders 76, % Vicenza, 27 August 2013 In the course of today s meeting, the Board of Directors of Banca Popolare di Vicenza S.C.p.A. unanimously approved the results for the first half of The Chairman of Banca Popolare di Vicenza, Cavaliere del Lavoro Gianni Zonin, commented: The Board of Directors is pleased with the Group's operating growth, with increased revenues and reduced costs, even in a particularly complex market situation. In a challenging, uncertain macroeconomic and financial environment continued Zonin we prudentially decided to allocate nearly all half-year profits, which grew significantly from the first half of 2012, to strengthen the Bank s capital base by significantly increasing provisions on loans to customers, in the certainty that we acted in the Members interest to protect their investment in our Institution. The positive performance and the operating growth of the Group are confirmed by all major management indicators: the Group s capital base, the number of customers, the number of members all grew, whilst its liquidity profile and operating results improved. Support to businesses and households in our areas of operation continues, with loans still exhibiting a positive trend that is well above the System as a whole; in this regard, we remain true to our function as a co-operative bank. Our Members and our Customers continue to demonstrate their trust and their approval of our operating policy and of the outlook for the Bank's development, as attested by the impressive participation in the recent capital increase. 3 Core Tier 1 at 30 June 2013, calculated considering the effects of the Euro 253 million capital increase of the Parent Bank, Banca Popolare di Vicenza, completed last 9 August. Page 2 of 9

3 Consolidated results Statement of financial position aggregates Loans and advances to customers reached Euro 31.2 billion, growing by Euro 496 million from 31 December 2012 (+1.6%), attesting the Group s strong and constant effort in supporting credit to small and medium enterprises and to households in the areas where it operates. It should be pointed out that the loans issued by Italian banking System as a whole declined by 2.1% in the first half of Net non-performing loans to customers amount to Euro 1,435.5 million, up by 0.46 percentage points over total net loans, from 4.14% at the end of 2012 to 4.60% at 30 June Their coverage percentage, including write-offs for bankruptcy proceedings still in progress at the reporting date, 48.03% (47.94% at 31 December 2012). Direct deposits reached Euro 33.2 billion, up by 2.6% compared to December 2012, confirming the members and investors trust and confidence in the Institution. Indirect deposits amounted to Euro 17.8 billion and grew by 1.2% from 31 December Particularly positive was the performance of assets under management, which grew by 8.5% from the end of the previous year. As a result of the effort to self-finance loans with direct deposits from customers, and particularly from retail customers, at 30 June 2013 the loans to customers/direct deposits ratio was 93.9%, an improvement by 0.9 percentage points from the end of the previous year. The further improvement of the structural liquidity position is well represented by the trend in the loans/retail direct deposits ratio 4, which declined from 122% at the end of 2012 to 117% in June Including the Berica PMI securitisation, placed on the market in July 2013, the aforesaid ratio dropped as far as to 113%, a further improvement by 4 percentage points. The Group s consolidated shareholders equity amounted to Euro 3,220.2 million. With regard to consolidated capital ratios 5 at 30 June 2013, the Core Tier 1 Ratio was 8.11% whilst the Total Capital Ratio was 11.06%. Considering the effects of the Euro 253 million capital increase of the Parent Bank, Banca Popolare di Vicenza, completed last 9 August with its full subscription by the Members, the Group s pro-forma capital ratios at 30 June 2013 would amount to 8.99% (Core Tier 1 and Tier 1) and to 11.93% (Total Capital Ratio). 4 Ratio between loans, net of payables and receivables with Cassa di Compensazione e Garanzia, and retail direct deposits, i.e. direct deposits after bonds placed on the Euromarket, Private Placement and repos with Cassa di Compensazione e Garanzia. 5 Estimated figures. The official figures will be reported to the Supervisory Authorities within the required deadline. Page 3 of 9

4 Income statement figures The income statement figures are illustrated below from a managerial viewpoint. For the reconciliation between the aggregates commented below and the items comprising the income statement layout prescribed by Bank of Italy Circular no. 262, please see the key at the bottom of the reclassified income statement, attached to this press release. In the first six months of the year, in a recessionary macroeconomic environment and in a still challenging and uncertain industry environment, the BPVi Group was able to improve its operating efficiency, achieving significant results both on the revenue growth front and in terms of cost containment. Operating income increased by 2.9%, thanks to the growth of the financial margin and to the good result obtained through trading book management, whilst operating charges declined by 1.1%, partly as a result of the containment of payroll costs. Overall, net profit from operating activities grew by 9.6% over the same period of the previous year, with an improvement by 2 percentage points on cost/income, which declined to 58.8%. At 30 June 2013, net financial income amounted to Euro million, up by 2.4% compared to 30 June 2012, as a result of the reduction in funding cost, both in terms of direct deposits and of exposures on the interbank market, and of the positive contribution of financial investment and hedges. Operating income amounted to Euro million, up by 2.9% compared to 30 June 2012, thanks to the aforementioned positive income of the net financial income and to the good result achieved through trading book management, which offset the contraction in the other revenue components (net fee and commission income and other net operating income), affected by the costs incurred for the guarantees received from the Italian State for access to the refinancing operations with the ECB, by the costs paid to customers for securities lending operations, and by the regulatory changes pertaining to the fee structure of the preliminary commission prescribed by the Save Italy decree from the second half of 2012 onwards. After these components, net fee and commission income grew by 4.7%, whilst the other net operating income is substantially stable. Net operating costs amounted to Euro million, down by 1.1% compared to 30 June 2012, also thanks to the containment of payroll costs (-2.2%). Overall, net profit from operating activities grew by 9.6% over the same period of the previous year, with an improvement by 2 percentage points on cost/income, which declined to 58.8%. Net impairment adjustments, as a result of the rigorous policies adopted, amounted to Euro 193 million, sharply higher than Euro million at 30 June 2012 (+73.1% overall, +97.3% referred only to loans and advances to customers). Cost of credit was 1.24% year on year, compared to 0.71% at 31 December 2012 and to 0.61% of the first half of Additionally, hedges on all impaired loans were strengthened relative to 31 December Income tax amounts to Euro 18.3 million (the tax rate is 90.8%) versus Euro 9.2 million of the first half of 2012 (the tax rate was 11.5%); this amount had benefited from the positive contribution (Euro 34.6 million) of certain non repeatable tax components. Net income, after the decision sharply to increase prudential provisions on loans and the marked rise of the tax rate, thus amounts to Euro 1.6 million. Page 4 of 9

5 Other information At the end of June, the Group s sale network had 640 branches (unchanged from 2012), as well as 15 money shops, 32 private banking offices, and 3 financial spaces, totalling 690 outlets. The number of employees is 5,498, substantially unchanged from December 2012 (+2 employees), but down by 43 compared to June The number of customers grew significantly again, by approximately 53 thousand in the half year (+41 thousand in the first half of 2012).The number of Members also grew strongly, by over 7,900 Members/Shareholders in the past 12 months, reaching 76,399 at 30 June Results of the Parent Bank With regard to the Parent Bank, Banca Popolare di Vicenza, after the sharp increase in provisions on loans, the profit for the period amounted to Euro 5.7 million. Direct deposits amounted to Euro 30 billion, up by 3.5% from 31 December 2012, whilst loans and advances to customers, which reached Euro 27.8 billion, grew by 1.7% on the balance at the end of Shareholders equity amounted to Euro 3,280.6 million. With regard to the Bank s capital ratios 6 at 30 June 2013, the Core Tier 1 Ratio was 12.88% whilst the Total Capital Ratio was 16.68%. Outlook for operations For upcoming months, we expect the economic and financial environment to remain challenging and uncertain. The ongoing initiatives and the results already achieved, foremost among them the fully successful conclusion of the important capital strengthening initiative, the attainment of a more balanced liquidity profile, and the enhancement of the commercial capabilities of the Group's distribution Network, confirm our Institution's ability to react to the effects of the crisis in a timely manner and attest, yet again, its quality and soundness. The constantly growing number of members and customers, moreover, provides the basis on which tomorrow's results will be built, once the challenging operating context is normalised. The economic performance throughout 2013 is affected by the uncertainty surrounding the evolution of the macroeconomic environment and of businesses ability to cope, and the consequent impacts in terms of cost of credit which may be offset by the continuing positive trend in revenues and by the actions, most of which are already ongoing, aimed at yet more stringent control of operating costs. *** This press release prepared in accordance with Regulations no approved by Consob with its resolution of 14 May 1999, as subsequently amended ( Issuers Regulations ) is available at the website The Half-year Financial Report will be made available within the deadline set by law at the Company s headquarters and at the website A dedicated notice shall be published on a daily paper with nationwide circulation and made available on the same date at the aforesaid website. *** Statement per Article 154-bis Paragraph 2 of Italian Legislative Decree no. 58 of 24 February Estimated figures. The official figures will be reported to the Supervisory Authorities within the required deadline. Page 5 of 9

6 The Financial Reporting Manager, Mr. Massimiliano Pellegrini, undertakes in accordance with Paragraph 2, Article 154-bis of the Italian Consolidated Financial Markets Act that the accounting information contained herein matches the accounting records, books and entries. Vicenza, 27 August 2013 *** The Financial Reporting Manager Massimiliano Pellegrini The reclassified consolidated Balance Sheet and Income Statement, and certain alternative performance indicators, are attached below. *** Page 6 of 9

7 RECLASSIFIED CONSOLIDATED BALANCE SHEET (in millions of euro) ASSETS 30/06/ /12/2012 Change +/- % Loans and advances to customers 31, , % Loans and advances to banks 2, , , % Financial assets held for trading 2, , % Financial assets available for sale 6, , , % Financial assets held to maturity % Equity investments % Other assets (1) 2, , % Total assets 46, , % Unless otherwise specified, the above items refer to the corresponding items of the balance sheet prescribed by Bank of Italy Circular No (1) These include the items 10. Cash and cash equivalents, 80. Hedging derivatives, 90. Remeasurement of financial assets backed by macro hedges, 120. Property, plant and equipment, 130. Intangible assets, 140. Tax assets, 150. Non-current assets held for sale and 160. Other assets. EQUITY AND LIABILITIES 30/06/ /12/2012 Change (+/-) % Due to customers 24, , , % Due to banks 6, , % Debt securities in issue 7, , % Financial liabilities held for trading 2, , % Financial liabilities at fair value 1, , % Other liabilities (1) 1, , % Shareholders equity (2) 3, , % - of which Parent Bank s net income for the period n.s. n.s. Total Equity and Liabilities 46, , % Unless otherwise specified, the above items refer to the corresponding items of the balance sheet prescribed by Bank of Italy Circular No (1) These include the items 60. Hedging derivatives, 80. Tax liabilities, 90. Liabilities associated with non-current assets held for sale, 100. Other liabilities, 110. Provision for severance indemnities, 120. Provisions for risks and charges and 210. Minority interests. (2) This includes the items 140. Valuation reserves, 160. Equity instruments, 170. Reserves, 180 Additional paid-in capital, 190. Capital stock and 220. Net income (loss) for the period. Page 7 of 9

8 RECLASSIFIED CONSOLIDATED INCOME STATEMENT (in millions of euro) 30/06/ /06/ Change (+/-) % Net interest income % Dividends and profit (loss) from equity investments % Net financial income % Net fee and commission income % - of which normalised net fees and commission income % Net profit for the property portfolios % Other operating charges/income % Net Operating income % Administrative costs: % - payroll % - other administrative costs % Depreciation % Net Operating costs % Net profit from operating activities % Net impairment adjustments % - of which on loans and advances % Net provisions for risks and charges % Gains (losses) on disposal/evaluation of investments n.s. Net income for the period before income tax % Income tax % - of which non-recurring tax benefits % Profit /(loss) from disposal groups, net of tax n.s. Minority interests % Net income % Basic earnings per share (euro) % Diluted earnings per share (euro) % 1 The comparative figures referred to 30 June 2012 were re-determined, with respect to the items Payroll costs and Income tax, by effect of the retrospective application of the new IAS 19 Employee Benefits The reconciliation of the items of the reclassified income statement with those prescribed in accordance with Bank of Italy Circular no. 262 is as follows: Net interest income: income statement item 30. Dividends and profit (loss) from equity investments: income statement items 70 and 240. Net financial income: "Net interest income" + "Dividends and profit (loss) from equity investments" as defined above. Net fee and commission income: income statement item 60, excluding the commission for draw downs outside credit lines (Euro +23,468 thousand as at 30 June 2012). The line of which normalised net fees and commission income was determined excluding the costs incurred in connection with the guarantees received from the Italian State for access to the refinancing operations with the ECB and with securities lending transactions. Net profit from the property portfolios: income statement items 80, 90, 100 and 110. Other operating charges/income: income statement item 220, excluding "recovery of stamp duty and other indirect taxes" (Euro +25,333 thousand at 30 June 2013, Euro +26,511 thousand at 30 June 2012) and "depreciation for expenses on third party property improvement" (Euro -4,008 thousand at 30 June 2013, Euro -4,278 thousand al 30 June 2012), but including the commission for draw downs outside credit lines (Euro +23,468 thousand at 30 June 2012). Operating income: "Net financial income" + "Net fee and commission income" + "Net profit from the property portfolios" + "Other operating charges/income" as defined above. Administrative costs: "Payroll" + "Other administrative costs" as defined below. Payroll: income statement item 180 a). Other administrative costs: income statement item 180 b) net of income for " recovery of stamp duty and other indirect taxes " (Euro +25,333 thousand at 30 June 2013, Euro +26,511 thousand at 30 June 2012). Depreciation: income statement items 200 and 210 and including "depreciation for expenses on third party property improvement" (Euro -4,008 thousand at 30 June 2013, Euro -4,278 thousand al 30 June 2012). Net operating costs: "Administrative costs" + "Depreciation" as defined above. Net profit from operating activities: "Operating income" + "Net operating costs" as defined above. Net impairment adjustments: income statement item 130. Of which on loans and advances" refers to income statement item 130 a). Net provisions for risks and charges: income statement item 190. Gains (losses) on disposal/evaluation of investments: income statement items 250 and 270. Net income for the period before income tax: "Net profit from operating activities" + "Net impairment adjustments" + "Net provisions for risks and charges" + "Gains (losses) on disposal/evaluation of investments" as defined above. Income tax: income statement item 290. Of which non recurring tax benefits" refers to extraordinary income accounted for in this item. Profit (loss) from disposal groups, net of tax: income statement items 260 and 310. Minority interests: income statement item 330. Page 8 of 9

9 OTHER INFORMATION AND ALTERNATIVE PERFORMANCE INDICATORS OTHER INFORMATION 30/06/ /12/ /06/2012 Number of employees 5,498 5,496 5,541 Number of outlets CAPITAL ADEQUACY RATIOS (1) 30/06/ /12/ /06/2012 Core Tier 1 Ratio 8.11% 8.23% 8.20% Tier 1 Ratio (Tier 1 Capital / risk-weighted assets) 8.11% 8.23% 8.20% Total Capital Ratio (Regulatory Capital / risk-weighted assets) 11.06% 11.26% 11.33% STRUCTURE AND PRODUCTIVITY RATIO (2) 30/06/ /12/ /06/2012 Loans and advances to customers / direct deposits 93.9% 94.8% 102.3% Total assets / Shareholders equity (leverage) 14.4 x 14.1 x 14.5 x Direct deposits per employee (in millions of euro) Indirect deposits per employee (in millions of euro) Loans and advances to customers per employee (in millions of euro) Operating income per employee (in thousands of euro) Cost / Income (3) 58.8% 62.0% 60.8% RISK INDICATORS 30/06/ /12/ /06/2012 Net non-performing loans / net loans 4.60% 4.14% 3.64% Non-performing loans coverage percentage (4) 48.03% 47.94% 50.13% Credit cost per annum (5) 1.24% 0.71% 0.61% (1) The figures at 30 June 2013 are estimated. The official figures will be reported to the Supervisory Authorities within the required deadline. (2) Productivity indicators are calculated by dividing the various aggregate figures to the average number of employees, calculated in accordance with the indications provided in Bank of Italy Circular No (3) This indicator is calculated by dividing operating costs (income statement item 230 after net allocations to provisions for risks and charges and including the commission for draw downs outside credit lines ) by net interest and other banking income (income statement item 120 net of the commission for draw downs outside credit lines ). (4) The coverage is determined including memorandum accounts pertaining to write-offs for bankruptcy proceedings in progress at the reporting date. The figure of 30 June 2013, for consistency of comparison with 31 December 2012, also includes the gross exposures (Euro 40.7 million) and the related adjustments (Euro 38.5 million) referred to non-performing loans sold during the half year. (5) This indicator is calculated by annualising the ratio between Net impairment adjustments on: loans and advances and gross customer loans, excluding guarantee margins and repurchase agreements because neither one is impaired. Page 9 of 9