Corporate›FinancialUnipol Gruppo: draft financial statements and integrated consolidated financial statements for 2020 approved

UNIPOL GRUPPO:

DRAFT FINANCIAL STATEMENTS AND INTEGRATED CONSOLIDATED

FINANCIAL STATEMENTS FOR 2020 APPROVED

• • The Group reinforces its commitment to sustainability:

  • o €13.3bn in value distributed including:

    •  €9.1bn in compensation to the policyholders

    •  €4.2bn distributed to the other stakeholders

  • o €30m was contributed to the community including €20m to help tackle the Coronavirus emergency

  • o 7.7 million Italians (13% of the population) covered by Unipol health and life insurance

  • o €53.4bn of investments subject to environmental and social monitoring comply with sustainability criteria

  • o A 58% increase in investments that support the 2030 Agenda (+19% in investments tackling climate change)

  • o Reputation leader in the insurance and banking sector on the basis of the 2020 Italy RepTrak® ranking for the fourth year running.

• • Key figures in 2020:

  • o Consolidated net profit €864m (-20.5% compared to 2019)

  • o Proposed dividend €0.28 per share

  • o Combined Ratio1 87.0% (94.2% in 2019)

  • o Consolidated solvency ratio of 216%2

  • o In the year of the Covid-19 pandemic, the Group backed important initiatives to support the community, customers, agents and employees

Bologna, 18 March 2021

The board of directors of Unipol Gruppo S.p.A., which met today under the chairmanship of Pierluigi Stefanini, approved the 2020 integrated, consolidated financial statements of Unipol Gruppo, confirming the preliminary results reported on 12 February last.

Contribution to sustainable development

In 2020, the Group distributed €13.3bn in value, including €9.1bn in compensation to policyholders and €4.2bn to the other stakeholders (shareholders, agents and other brokers, suppliers, the public authorities, lenders, employees and the community).

Due to increasing demand by the public for support in social and health matters and pensions, in confirmation of its role as a key player in the process of integrating public and private insurance cover, in 2020 Unipol covered 7.7 million people (13% of Italian citizens) with its health and life insurance.

Unipol contributed to the resilience of the economy, supporting families and increasing awareness of insurance cover for small and medium-sized enterprises, which form the backbone of the Italian production sector, and that have subscribed to over €710m in insurance policies.

For years, the Group has taken a systematic approach to steer the investment of its financial assets towards the criteria of sustainability and responsibility. At the end of 2020, the assets

• 1 Net of reinsurance.

• 2 Figure calculated on the basis of the partial internal model to be considered as preliminary since the supervisory authorities will be notified of the definitive results in accordance with the legally imposed deadlines.

subject to sustainability monitoring amounted to €54.5bn (87% of the total assets under management). The percentage of assets found to be sustainable after monitoring amounted to 98% (equal to €53.4bn).

Investments that support the 2030 Agenda grew by a total of 58% in 2020, amounting to €609.4m in thematic and impact investments. The investments for tackling climate change grew by 19%. The €600m target for investments in support of the 2030 Agenda as set out by the Strategic Plan for the end of 2021 was therefore achieved and exceeded.

On a comparable basis with 2019, the monitoring of the Group's environmental performance recorded an overall reduction in CO2 emissions of 23.3% in 2020, taking it to an equivalent value of 37,829 t CO2 (equivalent value of 48,648 t CO2 in 2019), equal to 3.2 t CO2 per employee (3.9 t CO2 in 2019).

The LIFE ADA (ADaptation in Agriculture) project was launched in 2020, co-funded by the European Union as part of the LIFE programme; it aims to increase the resilience of the agricultural sector to adapt to climate change. Life ADA will last until December 2023 and involve UnipolSai as the lead company along with various partners.

For Unipol, the commitment to support and work with the territories and communities where it operates means contributing towards the development and realisation of socially useful projects, supporting scientific research, cultural projects, protecting the artistic heritage and the environment and supporting sports and entertainment. It contributed approximately €9m to the community in 2020.

€7.5m was invested in 2020 for employee, agent and business partner training, with 1 million hours of training given.

Covid-19 emergency initiatives

In a year marked by the outbreak of the Covid-19 emergency, the Group supported significant projects in favour of the community, customers, the agency distribution network and employees.

The Group donated over €20m to the community during the year to help tackle the Coronavirus emergency. In the areas most affected in Italy, Unipol, in close cooperation with the authorities and the civil protection authority, allocated said resources to increase the number of beds in hospitals, especially in intensive care and semi-intensive care units, and purchase the necessary healthcare equipment to help stop the epidemic from spreading.

With regard to its customers, the Group established a Coronavirus medical consultation service available 24/7 for its policyholders through the UniSalute Medical Centre. UnipolSai launched #UniSalutePerTe healthcare coverage to address the possible consequences of Covid-19 and offered at no additional cost to all its customers. UnipolSai also created the #AndràTuttoBene healthcare protection product especially for companies to protect their employees; it also launched the #UnMesePerTe campaign to reimburse 10 million MV liability customers for an amount equal to a month's car insurance by using vouchers when renewing their policies.

With regard to the agency distribution network, significant financial support measures were introduced along with support to ensure safe working conditions. Mechanisms were also developed to communicate with customers using digital means, especially for the payment systems and electronic signatures on contracts.

Starting from March last year, Working From Home mechanisms were introduced to safeguard the health of all the Group employees using technology implemented in just a few weeks to enable over 9,300 people to work on a more flexible basis. These mechanisms are still in use. The Group hired 885 people in 2020.

Reputation and awareness

For the fourth year running, the Unipol Group confirmed its first-place position for reputation in the insurance and banking businesses with a score of 73.0 (67.6 in 2019) on the basis of the Italy RepTrak® 2020 ranking; it was drawn up by the RepTrak Company which considers about 400 companies operating in Italy to measure their reputation levels. Thanks to the Sempre un passo avanti (always one step ahead) advertising campaign, UnipolSai became top of mind, making it the brand with the highest level of spontaneous recognition associated with innovation and strength, i.e., the first company that comes to mind when people have to choose insurance cover.