BPER Banca S p A : Consolidated half-year report as at 30 June 2021

CONSOLIDATED HALF-YEAR REPORT AS AT 30 JUNE 2021

Consolidated half-year report as at 30 June 2021

The present document is the English translation of the Italian Consolidated half-year report, prepared for and used in Italy, and it has been translated only for the convenience of international readers. The Group interim report on operations was prepared using International Reporting Standards (IAS/IFRS); therefore it is not intended to present the financial position and results of operations and cash flows according to accounting principles and practices other than IAS/IFRS.

BPER Banca S.p.A.

Head office in Via San Carlo 8/20, Modena, Italy Tel. [phone] - Fax [phone] Register of Banks no. 4932

Parent Company of the BPER Banca S.p.A. Banking Group Registered in the Register of Banking Groups with ABI code 5387.6 http://www.bper.it, https://istituzionale.bper.it;

E-mail: [e-mail] - PEC: [e-mail]

Company belonging to the BPER Banca VAT Group VAT no. 03830780361 Tax Code and Modena Companies Register no. 01153230360

Modena Chamber of Commerce 222528 Share capital as at 28 October 2020 € 2,100,435,182.40 Member of the Interbank Deposit Protection Fund and of the National Guarantee Fund Ordinary shares listed on the MTA market

2

Consolidated half-year report as at 30 June 2021

Content

Content

Directors and officers of the Parent Company as of the date of approval of the	page 5
Consolidated half-year report as at 30 June 2021
Group interim report on operations as at 30 June 2021	page 7
Condensed consolidated half-year financial statements
Consolidated financial statements
Consolidated balance sheet as at 30 June 2021	page 91
Consolidated income statement as at 30 June 2021	page 93
Consolidated statement of other comprehensive income	page 95
Consolidated statement of changes in shareholders equity	page 96
Consolidated statement of cash flows	page 97
Consolidated explanatory notes
Part A - Accounting policies	page 101
Part B - Information on the consolidated balance sheet	page 131
Part C - Information on the consolidated income statement	page 171
Part E - Information on risks and related hedging policies	page 189
Part F - Information on consolidated shareholders equity	page 213
Part G - Business combination transactions	page 217
Part H - Related-party transactions	page 227
Part I - Equity-based payments	page 231
Part L - Segment reporting	page 237

3

Consolidated half-year report as at 30 June 2021

Content

Attachments
Financial statements of the Parent Company as at 30 June 2021	page 245
Reclassified financial statements of the Parent Company as at 30 June 2021	page 248
Restatement of the BPER Banca Group's consolidated financial statements as at 1
January 2020	page 250
Restatement of the BPER Banca Group's consolidated financial statements as at
31 December 2020	page 252
Restatement of the BPER Banca Group's consolidated income statement as at 30
June 2020	page 255
Restatement of the BPER Banca Group's reclassified consolidated financial
statements as at 31 December 2020	page 256
Restatement of the BPER Banca Group's reclassified consolidated income
statement as at 30 June 2020	page 259
Geographical organisation of the Group	page 260

Certifications and other reports
Certification of the consolidated half-year financial statements pursuant to art.
81-ter of CONSOB Regulation no. 11971 dated 14 May 1999 and subsequent
additions and amendments	page 265
Report on the Review of the half-year condensed consolidated financial
statements	page 267

4

Consolidated half-year report as at 30 June 2021

Directors and officers of the Parent Company

Directors and officers of the Parent Company as of the date of approval of the Consolidated half-year report as at 30 June 2021

Board of Directors

Chair:	Flavia Mazzarella
Deputy chair:	Riccardo Barbieri
Chief Executive Officer:	Piero Luigi Montani
Directors:	Elena Beccalli
	Silvia Elisabetta Candini
	Maria Elena Cappello
	Cristiano Cincotti
	Gianfranco Farre
	Alessandro Robin Foti
	Roberto Giay
	Ganni Franco Papa
	Marisa Pappalardo
	Monica Pilloni
	Gian Luca Santi
	Elisa Valeriani (#)

Board of Statutory Auditors

Chair:	Daniela Travella (##)
Acting Auditors:	Paolo De Mitri
	Patrizia Tettamanzi (##)
Substitute Auditors:	Sonia Peron (##)
	Andrea Scianca

1. Elisa Valeriani was appointed at the Shareholders' Meeting of 23 June 2021 following the resignation of Alessandra Ruzzu with effect from 20 May 2021.
   (##) Daniela Travella was elected Chair of the Board of Statutory Auditors at the Shareholders Meeting of 23 June 2021, following the resignation of Nicola Bruni with effect from the date of Shareholders Meeting. The same Shareholders' Meeting appointed Patrizia Tettamanzi as acting auditor and Sonia Peron Sindaco as substitute auditor to replace Patrizia Tettamanzi, resigning from office due to her appointment as Acting Auditor.

5