Intesa Sanpaolo Investor Presentation — July 2022

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July 29, 2022A strong bank for a

sustainable world1H22 Results

An excellent first half in a challenging

Fully focused on executing the 2022 -2025 Business PlanMIL-BVA362 -03032014 -90141/VR

€4.1bn gross NPL stock reduction in H1 (€3.2bn in Q2)

Execution of the 2022 -2025 Business Plan proceeding at full speed, with key industrial initiatives well underway:

fully equipped to continue succeeding in the futureStrong decrease in Operating costs ( -2.5% vs 1H21(1)) with Cost/Income ratio down to 47.5%Solid performance in financial market activities, once again a natural hedge to the impact from volatility on our fee -based busi ness

(1)Data redetermined considering, on the basis of management accounts, the reallocation of the contribution of branches sold in 1H21 to Income (Loss) from discontinued operations, the full line -by-line consolidation of Assicurazioni Vita (former Aviva Vita),

Lombarda Vita and Cargeas Assicurazioni (not considering, on the basis of management accounts, the contribution of branches sold in 1H21), and the effects of the acq uisition of the REYL Group

(2)According to EBA definition

(3)Annualised excluding €1.1bn provisions for Russia -Ukraine exposure and €0.3bn release of part of generic provisions conservatively booked in 2020 for COVID -19 impacts (€0.4bn still available)Strong acceleration of Net interest income in Q2 (+6.9% vs Q1)€2,354m H1 stated Net income ( €1,330m in Q2), thanks to the highest -ever Operating income and Operating margin€3.3bn H1 Net income excluding €1.1bn provisions/ writedowns for Russia -Ukraine exposure, the best first half since 2008 ISP delivered excellent operating performance , thanks to a well -diversified and resilient

Lowest -ever NPL stock and ratios, with gross NPL ratio at 1.8% and net NPL ratio at 1.0%(2)Q2 the best quarter ever for Insurance income, coupled with resilient Commissions despite negative market performance

Zero -NPL Bank status driving low underlying Cost of risk (27bps(3))

1MIL-BVA362 -03032014 -90141/VR

1H22: excellent operating performance

ISP is well equipped for a challenging environment2022 -2025 Business Plan proceeding at full speed

Final remarksMIL-BVA362 -03032014 -90141/VR

1H14 1H12 1H21 1H11 1H09 1H103,023

1H22 1H13 1H18 1H16 1H20 1H15 1H17 1H192,3542,0043,276

1,2741,707 1,7382,1792,2662,566+8.4%1H22: the best H1 Net income since 2008 when excluding provisions/ writedowns for

Russia -Ukraine exposure

H1 performance fully in line with 2022 Business Plan Net income target of >€5bn

when excluding provisions/ writedowns for Russia -Ukraine exposure

3MIL-BVA362 -03032014 -90141/VRH1: €3.3bn Net income when excluding provisions/ writedowns for Russia -Ukraine