Press release

With reference to the CASHES instruments ISIN Code XS0413650218, Mediobanca communicates that, at the request of UniCredit S.p.A., it has entered into an amendment to the usufruct agreement existing with the same. Such amendment introduces in the usufruct agreement a discretional option for UniCredit to pay future quarterly amounts under the usufruct agreement – which the payment of coupons under the CASHES instruments are linked to – even in absence of the relevant payment conditions connected to the presence of profits and distribution of dividends from UniCredit. Today Mediobanca, as depositary bank, has also received notification from UniCredit of the intention to avail of such option for the quarterly amount due for 26 May 2020; as a result, Mediobanca has started the procedure envisaged by the CASHES agreements in order to transfer such amount to the CASHES fiduciary issuer in time for payment of the CASHES coupons.

Milan, 19 May 2020

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