UniCredit : Reverse split of the UniCredit ordinary and savings shares, purchase price for the fractions

For the purpose of amending the press release published on 23 January 2017, UniCredit S.p.A. ('UniCredit') hereby announces that the official price of the ordinary and savings UniCredit shares on the Mercato Telematico Azionario on 20 January 2017, to be used to determine the purchase price of the fractions resulting from the application of the reverse split ratio is:

€ 2.7046 for the ordinary shares;

€ 5.6902 for the savings shares.

Milan, 25 January 2017

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This communication does not constitute an offer or an invitation to subscribe for or purchase any securities. The securities referred to herein have not been registered and will not be registered in the United States under the U.S. Securities Act of 1933, as amended (the 'Securities Act'), or in Australia, Canada or Japan or any other jurisdiction where such an offer or solicitation would require the approval of local authorities or otherwise be unlawful. The securities may not be offered or sold in the United States or to U.S. persons unless such securities are registered under the Securities Act, or an exemption from the registration requirements of the Securities Act is available.