GENERAL MEETING DRAFT - Bankier.pl

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Upon completion of the phases described herein, UniCredit Bank AG will continue to operate in Austria
through the opening a branch in Vienna.
The initial part of this project was completed in the first quarter 2010. The next steps - the transfer of
CAIB to UniCredit Bank AG and its subsequent merger into the latter - are expected to be completed
by the end of 2010, subject to receipt of the necessary regulatory approvals.
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In order to capitalize on the closed-end real estate fund management activity of Pioneer Investment
Management SGR S.p.A. (“PIM SGR”) – a wholly-owned subsidiary of Pioneer Global Asset Management
S.p.A. (“PGAM”) – in April 2009 PIM SGR acquired an equity stake of 37.5% in Torre SGR S.p.A. (a real
estate fund management company attributable to Fortress Investment Group LLC, which in turn is an
alternative management company listed on the New York Stock Exchange) as part of a capital increase of
the aforementioned company reserved for PIM SGR and subscribed by the latter by transferring its own
"real estate funds" business line (essentially made up of six real estate funds: “UniCredito Immobiliare
Uno”, “Pioneer RE Brixia”, “Pioneer RE Turin”, “Pioneer RE STAR”, “Pioneer RE Capital Fund” and
“Pioneer RE AMG”).
The transaction was carried out, together with a strategic partner in the real estate asset management
sector, as part of the project aimed at capitalizing on the real estate management activities of the Pioneer
Group in Italy, with the intention of (i) creating a partnership with a leading international operator in the
real estate sector, in order to combine the sector expertise of this player with the capacity of Pioneer and
the Group to which it belongs, in terms of distribution and access to institutional and retail capital, and
consequently (ii) meeting the needs of the UniCredit Group network in terms of management of its
existing activities, product innovation, expansion of the product range offered to its own retail and
institutional customers, and generation of new business and resulting commission income, as well as (iii)
creating value for investors.
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In October 2009, UniCredit Bank AG acquired from NewSmith Capital Partners LLP a 100% stake in
NewSmith Financial Products LLP (name changed in November to “Kinabalu Financial Products LLP”)
and NewSmith Financial Solutions Ltd (name changed in November to “Kinabalu Financial Solution Ltd”),
companies specializing in the credit advisory business, for a total amount of £50.9 million (approximately
€60 million).