The Board of Directors of UniCredit, in view of the identification of Andrea Orcel as the candidate for the position of Chief Executive Officer at the next Shareholders' Meeting scheduled for 15 April 2021 and approval of the results as at 31 December 2020, has agreed with Jean Pierre Mustier to end his employment relationship as UniCredit's Chief Executive Officer and General Manager with effect from 11 February 2021. In order to ensure full managerial continuity, pursuant to Article 21, paragraph 5, of the Articles of Association, the Board of Directors has appointed Ranieri de Marchis as General Manager of UniCredit S.p.A. He has been assigned all the powers currently attributed to the Chief Executive Officer and will remain General Manager until the appointment of the new CEO. Ranieri de Marchis will retain his current position of co-COO of the Group.