Delisting Notice

Unione di Banche Italiane S.p.A.(the "Issuer")Issue of €1,000,000,000 Floating Rate Covered Bonds (Obbligazioni Bancarie Garantite) due 31 March 2022Guaranteed by UBI Finance S.r.l.under the €15,000,000,000 ProgrammeISIN Code: IT0005175465(the "Covered Bonds")

Announcement of Delisting

4 January 2018

The Issuer hereby wishes to announce that it has requested the Irish Stock Exchange to remove the Covered Bonds detailed above from the Main Securities Market of the Irish Stock Exchange.

This is effective from 4 January 2018.

For further information please contact:

Giorgio Erasmi -Head of Funding and Treasury - Unione di Banche Italiane S.p.A. -+39 02 76200191 [email protected]

and / or

Giorgio Masoero -Head of Institutional Funding - Unione di Banche Italiane S.p.A. -+39 02 76200194 [email protected]

This announcement has been issued through the Companies Announcement Service of

the Irish Stock Exchange.