UniCredit: UniCredit, following ECB authorization, increases its stake in Alpha Bank S.A. to c.29.5%

KOMISJA NADZORU FINANSOWEGO

Raport bieżący nr

/

2025

Data sporządzenia:

2025-10-30

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UniCredit

Temat

UniCredit, following ECB authorization, increases its stake in Alpha Bank S.A. to c.29.5%

Podstawa prawna

Inne uregulowania

Treść raportu:

UniCredit has received ECB authorization to acquire a direct stake in Alpha Bank S.A. (“Alpha Bank”) of up to 29.9%. This approval underscores once more UniCredit's financial strength and regulatory compliance.

Approval by the National Competent Authorities of the indirect qualifying holding of UniCredit in the regulated entities of the Alpha Bank Group is pending (“Remaining Regulatory Approvals”).

In line with the requested authorization by the ECB, UniCredit has entered into additional financial instruments, increasing its aggregate position in Alpha Bank to c.29.5%.

The increase in exposure has been performed at a discount to prevailing market prices and combined with the execution of a hedge to protect part of the combined stake from downside at favorable financial conditions, hence only marginally affecting the return of the investment. The capital impact in case of the potential full conversion of the financial instruments to reach a direct stake of c.29.5% remains at around -80 bps of CET1 ratio as previously communicated.

After receiving all the remaining regulatory approvals, 9.8% of the stake currently held by UniCredit will be equity consolidated bringing an equivalent amount of Alpha Bank net profit to both UniCredit revenue and net profit lines. The related capital absorption of the 9.8% stake that is equity consolidated is not significant.

The decision as to whether and when to convert and consolidate the remaining Alpha Bank stake held via derivative financial instruments will be made in the future assessing the trade-off between return and profit contribution on one side and capital impact and distributions on the other. A similar approach applies to the additional 3% stake in Commerzbank held through derivative financial instruments. UniCredit will continue to be guided in its actions by the best interest of its shareholders.

UniCredit believes in the positive prospects of the Greek economy and banking sector. The successful partnership with Alpha Bank allows the two groups to capitalize on their respective strengths and further increase their collaboration into payments, specialized financing services, advisory, capital markets, asset management and insurance products, allowing Greek clients to have access to best in class and innovative products and UniCredit to leverage its product factories while accounting for a significant share of Alpha Bank net profits going forward.

Milan, 30 October 2025

Contacts:

Media Relations e-mail: MediaRelations@unicredit.eu

Investor Relations e-mail: InvestorRelations@unicredit.eu

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PR_UniCredit receives ECB authorization on Alpha and enters into further financial instruments_30102025.pdf

Press Release

UniCredit S.p.A.

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UniCredit

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PODPISY OSÓB REPREZENTUJĄCYCH SPÓŁKĘ

2025-10-30

Daniela Arienti

Group Media Relations