Intesa Sanpaolo Investor Presentation — February 2021

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Resilient Profitability and Balance

Sheet Further Strengthened through

Impressive NPL Deleveraging

Combination with UBI Banca Brings

Additional Value Creation1

ISP Delivered Solid Performance, Exceeding ~€3bn Net Income

(1)€422m for the period 5.8.20 -31.12.20, not considering the disposal to BPER Banca of a portion of branches and related assets and liabilities

(2)€684m effect of PPA –including negative goodwill –and integration charges

(3)€912m; €981m pre -tax

(4)Excluding UBI Banca

(5)Data restated for the full line -by-line deconsolidation of the acquiring activities related to the Nexi agreement and to take into account the effects on Operating costs of the Prelios agreement related to UTP servicing and the RBM Assicurazione Salute acquisition

(6)Including €3.2bn Gross NPL reclassified in Discontinued operations as of 31.12.20

(7)Including €7.4bn Gross NPL reclassified in Discontinued operations as of 31.12.20 pre PPA

(8)Pro-forma fully loaded Basel 3 (31.12.20 financial statements considering the total absorption of DTA related to IFRS9 FTA, good will realignment/adjustments to loans/non -taxable public cash contribution of €1,285m covering the integration and rationalisation

charges relating to the acquisition of the operations of the two former Venetian banks, the expected absorption of DTA on los sescarried forward and DTA related to the combination with UBI Banca arising from PPA, integration charges and the disposal to B PER

Banca of a portion of branches and related assets and liabilities and the expected distribution of FY20 Net income of insuran ce companies)

(9)EstimatedStrong decrease in Operating costs ( -3.4% vs FY19(4)(5))

€8.5bn(6)NPL deleveraging in Q4 (€14.7bn(7)including UBI), €10.8bn(6)in 2020Cost of risk down to 50bps(4)(vs 53bps in FY19) excluding provisions for future COVID -19 impactsHighest -ever Insurance income with non -motor P&C revenues up at €370m(4) (+55% vs FY19),

€468m including credit -linked products

Common Equity ratio up at 15.4%(8), 15.9% pro -forma taking into account

the RWA reduction(9)due to the disposal of branches to BPER Banca€3.5bn adjusted Net income, including the five -month contribution of UBI Banca(1)and not considering

the accounting effect of the combination with UBI Banca(2)or the accounting impact of the impairment of goodwill(3)€3.1bn ISP stand -alone Net income excluding the accounting impact of the impairment of goodwill related to the Banca

deiTerritori Division (with no negative impact on underlying profitability or capital ratios);

€4.5bn excluding provisions for future COVID -19 impacts