Intesa Sanpaolo Investor Presentation — May 2022

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May 6, 2022A strong bank for a

sustainable world1Q22 Results

Solid operating performance in a challenging

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

1€4.8bn gross NPL stock reduction considering the €3.9bn disposal finalised in April

2022 -2025 Business Plan well underway and Q1 performance fully in line with 2022 Net income target of >€5bn when excluding

provisions/ writedowns for Russia -Ukraine exposureStrong decrease in Operating costs ( -3.2% vs 1Q21(1)) with Cost/Income ratio down to 46.3%Second -best Q1 ever for Commissions and Insurance income, despite impact from Russia -Ukraine conflict

Strong performance in financial market activities once again was a natural hedge to the impact from volatility on our fee -based business

(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)Taking into account 2022 NPL disposals already funded in 4Q21 and still booked in NPL as at 31.3.22, of which €3.9bn gross (€ 0.9bn net) finalised in AprilNet interest income up 1.3% vs 4Q21 when adjusting for the different number of days in the two quartersStrong acceleration of Operating income and Operating margin (+7.8% and +46.0% vs 4Q21)€1,024m stated Net income€1.7bn Net income excluding €0.8bn provisions/ writedowns for Russia -Ukraine exposure, the best quarter since 2008 (+10.2% vs 1Q21(1))Execution of the 2022 -2025 Business Plan proceeding at full speed, with key industrial initiatives well underwayISP delivered solid operating performance in a challenging environment , thanks to a

well-diversified and resilient business model

Lowest -ever NPL stock and ratios, with gross NPL ratio at 1.6% and net NPL ratio at 0.9% on a pro -forma basis(2)(3)MIL-BVA362 -03032014 -90141/VR

Final remarks1Q22: solid operating performance2022 -2025 Business Plan proceeding at full speedMIL-BVA362 -03032014 -90141/VR

32022 -2025 Business Plan proceeding at full speed…

Our People are our most important asset

Significant ESG commitment,

with a world -class position in

Social Impact and strong focus

on climateStructural Cost reduction,

enabled by technologyGrowth in Commissions,

driven by Wealth Management,

Protection & AdvisoryMassive upfront