UNICREDIT SPA (52/2025) UniCredit enters into financial instruments relating to Alpha Services and Holdings S.A. for a c. 9.7% stake, increasing its aggregate position to c. 20%

Podstawa prawna: Inne uregulowania

UniCredit SpA ("UniCredit") announces that today it has entered into financial instruments with primary investment banks relating to a circa 9.7% stake in Alpha Services and Holdings S.A. ("Alpha"), at a price embedding a discount versus previous closing share price. Physical settlement under the new financial instruments may only occur after the required regulatory approvals have been obtained.

Together with the 9.6% currently held, UniCredit overall positions in Alpha will total c. 20%, allowing to equity consolidate and therefore better reflect the positive contribution of the strategic partnership.

UniCredit will submit all the required regulatory filings for acquiring a stake in Alpha above 10% and up to 29.9%.

The transaction will generate an additional net profit of c. 180m per year, which UniCredit will return to its shareholders in line with its distribution policy.

The completion of the transaction is expected to occur within the end of 2025. It will have an impact of c. 40bps on UniCredit CET1 ratio, with an as-is return of the investment of c. 16% (c. 19% since inception), which we anticipate will improve thanks to the initiatives that are being pursued in the partnership.

CEO Andrea Orcel said: "This step strengthens our successful partnership with Alpha, which has already delivered value well in excess of expectations. And there is much more to come. We have confidence in Alpha's leadership, their strategy, and Greece's growth trajectory. Throughout this partnership, our engagement with Greece's government and leading institutions has been extremely positive. Their approach and support has contributed significantly to the partnership's success, and to this further investment."

As always, the primary focus for UniCredit's management team continues to be on the execution of UniCredit Unlocked and the delivery of superior sustainable profitable growth and distributions for shareholders.

Milan, 28 May 2025

Contacts:

Media Relations e-mail: MediaRelations@unicredit.eu

Investor Relations e-mail: InvestorRelations@unicredit.eu

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