Unipol Group: draft financial statements and consolidated financial statements for 2016 approved

Bologna, 24 March 2017

• Preliminary results announced on 10 February confirmed. Consolidated net profit of €535m (€579m in 2015, which benefitted from extraordinary results in financial management)
• Return on financial assets equal to 3.5%
• Consolidated Solvency II margin equal to 141%1
• Consolidated Solvency II margin based on the Economic Capital Model equal to 161%2
• Proposed dividend equal to €0.18 per share
• Shareholders' Meeting scheduled for 28 April 2017

  The Board of Directors of Unipol Gruppo Finanziario S.p.A., which met yesterday under the chairmanship of Pierluigi Stefanini, approved the integrated consolidated financial statements and draft financial statements of Unipol Gruppo Finanziario S.p.A., confirming the preliminary results already announced on 10 February.

  The Unipol Group combined financial and sustainability information for the first time with the publication of an Integrated Report prepared on the basis of the principles contained in the International Integrated Reporting Framework, issued by the International Integrated Reporting Council (IIRC)3in December 2013.

  The reporting process aims to provide an overall view by combining the information contained in the traditional financial statements with the representation of environment, social and governance performance in the preparation of an integrated document that illustrates the business model based on capital analysis, in order to represent the factors, including reputational capital, that materially affect the ability to generate value.

  1 Figure calculated according to the Standard Formula using Undertaking Specific Parameters (USPs)

  2 The Economic Capital Model is the measure of capital absorbed, calculated according to the principles and models applied by the Partial Internal Model and having operational value

  3 The IIRC is a global organization made up of regulators, investors, companies, legislators and professionals working in the accounting and NGO sector

  Main consolidated results of the Unipol Group in 2016

• Consolidated net profit of €535m (€579m in 2015, which was impacted by significant realized gains resulting from asset reallocation in the securities portfolio).

• Direct insurance income, gross of reinsurance, amounted to €14,806m (-10.1% compared to

  €16,476m in 2015)

  Non-Life business: €7,809m Life business: €6,997m

• Combined ratio net of reinsurance equal to 95.6% (93.9% in 2015)

• Banking business

  • Gross profit of €7m (€6m in 2015)

  • CET 1 equal to 16.8%4at a Unipol Banking Group level

  • Coverage of NPE:

    • 57.5% for bad loans (sofferenze)

    • 45.7% for the total NPE portfolio

• Return on financial investments equal to 3.5%

• Consolidated shareholders' equity equal to €8,134m (€8,445m in 2015), of which €5,649m attributable to the Group

• Consolidated Solvency II margin equal to 141%1

• Consolidated Solvency II margin based on the Economic Capital Model equal to 161%2.

Unipol Gruppo Finanziario S.p.A. closed 2016 with a net profit of €160m. Based on this result, the Board of Directors also approved the proposal to the Shareholders' Meeting for the distribution of a dividend for the year 2016, in accordance with the Company By-Laws, equal to €0.18 per ordinary share, with a pay-out of approximately 80%.

The dividend, if approved by the Shareholders' Meeting scheduled for 28 April 2017, shall be paid on 24 May 2017, with the ex-dividend date set for 22 May 2017 and the record date set for 23 May 2017. The complete text of the proposed resolutions and the reports of the Board of Directors relating to the items on the agenda as well as all related documentation will be available, in accordance with the law, at the registered office and on the website of the Company www.unipol.it(under the section Corporate Governance/Shareholders' Meetings) and on the website of the Italian Stock Exchangewww.borsaitaliana.it.

4 Ratio calculated taking into account the profit for the year 2016 net of the proposed dividends

UnipolSai Assicurazioni included in the FTSE4Good Index as recognition for environmental, social and governance efforts

On 30 January 2017 FTSE Russell (trademark owned by FTSE International Limited and the Frank Russell Company) confirmed that UnipolSai Assicurazioni met the requirements for admission to the FTSE4Good Index Series. The index measures the performance of companies that apply strict environmental, social and governance (ESG) practices and act in areas such as combating climate change, implementing governance, respect for human rights and the fight against corruption.

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In order to allow a more complete disclosure of the result for the year 2016, please find attached hereto the Consolidated Balance Sheet, Consolidated Income Statement, Statement of Comprehensive Income, summary of the Consolidated Income Statement Broken Down by Business Segment, the Balance Sheet Broken Down by Business Segment as well as the Balance Sheet and Income Statement of Unipol Gruppo Finanziario S.p.A..

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Maurizio Castellina, Manager in charge of financial reporting of Unipol Gruppo Finanziario S.p.A. and UnipolSai Assicurazioni S.p.A., declares, pursuant to Article 154-bis, paragraph 2, of the "Consolidated Law on Finance", that the accounting information contained in this release corresponds to the figures in corporate accounting records, ledgers and documents.

CET1: Common Equity Tier 1, core measure of banking financial strength Basel III COMBINED RATIO: sum of loss ratio and expense ratio

EXPENSE RATIO: ratio of Non-Life operating expenses and premiums calculated on earned premiums LOSS RATIO: ratio of Non-Life claims and premiums

AFS RESERVE: reserve on assets classified as "Available-for-Sale"

Fernando Vacarini Tel. +39/051/5077705

pressoffice@unipol.it

Giovanni Vantaggi g.vantaggi@barabino.it Tel. +39/328/8317379

Adriano Donati

Tel. +39/051/5077933

investor.relations@unipol.it

Follow us on https://www.linkedin.com/company/unipol-gruppo https://twitter.com/UnipolGroup_PR

Unipol is one of the leading insurance groups in Europe with a total income amounting to approximately €14.8bn, of which

€7.8bn in Non-Life Business and €7bn in Life Business (2016 figures). Unipol adopts an integrated offer strategy and covers a complete range of insurance and financial products, operating primarily through its subsidiary UnipolSai Assicurazioni S.p.A., founded at the beginning of 2014, Italian leader in Non-Life Business, in particular in MV TPL insurance.

The Group is also active in direct vehicle insurance (Linear Assicurazioni), health protection (UniSalute), supplementary pensions and has a strong presence in the bancassurance channel (Arca Vita Group and Popolare Vita Group).

Finally, Unipol operates in the banking business through the network of Unipol Banca branches and manages significant diversified businesses in the real estate, hotel (Atahotels) and agricultural (Tenute del Cerro) sectors.

Unipol Gruppo Finanziario S.p.A. is listed on the Italian Stock Exchange.