Press release Milan/Munich, 11 February 2011

Desertec: UniCredit SpA first Italian financial institution

to join industrial initiative Dii as shareholder

Milan/Munich - UniCredit is the first Italian financial institution to join Dii as shareholder,

the unique private industry joint venture that was launched as the 'Desertec Industrial

Initiative' in July 2009.

Dii aims at creating the framework for generating sustainable and climate-friendly power

from sun and wind energy in the deserts of the Middle East and North Africa (MENA) and

prepare the integration with the European energy market. The long-term goal is to

satisfy both a substantial part of the energy needs of the MENA countries and to meet up

to 15% of Europe’s electricity demand by 2050.

“We chose to become shareholders of Dii as a further step within our comprehensive

sustainability strategy and to give our contribution to fight climate change - stated Mr.

Vittorio Ogliengo, Head of Global Financing and Advisory -. UniCredit is strongly

committed to reducing its internal greenhouse gases emissions and to provide its

customers with financially suitable solutions for the development of the green economy.

We firmly believe that the Desertec vision is key for the transition to a low carbon

economy and for sustainable growth in the 21st century and are very much pleased to be

part of Dii.”

Paul van Son, CEO of the Dii: “We are very proud that UniCredit joins our industry

initiative. Our aim is to create a renewable energy partnership in the Mediterranean

region. This will involve investments, the development of new industries in MENA

countries, the creation of jobs and the transfer of knowledge and know-how. The ever-

increasing support of highly notable financial institutions such as UniCredit proofs that

large-scale renewable energy development is also regarded as an attractive and

promising business opportunity.”

UniCredit, as unique italian bank shareholder, play an active role in developping the

project. Davide Mereghetti, Massimo Pecorari and Simone Marcucci represent UniCredit in

Dii Shareholders Assembly.

About UniCredit

UniCredit is a major international financial institution with strong roots in 22 European

countries. Our network, which is present in roughly 50 markets, includes an estimated

9,600 branches and more than 161,000 employees (as of September 30, 2010).

In the CEE region, the Group operates the largest international banking network with nearly

3,900 branches.

About Dii (www.dii-eumena.com)

Dii is the industrial consortium founded in 2009 with the aim of realizing the Desertec

vision. It is now backed by more than 50 international institutions that support Dii as

shareholders or associated partners. Dii’s core objectives are to

• analyze and develop a technical, economic, political and regulatory framework for

feasible investments into renewable energy and interconnected grids,

• originate 2-3 reference projects to demonstrate the overall feasibility of the

Desertec vision,

• develop a long-term roll-out plan for the period up to 2050 providing investment

and financing guidance.

Shareholders of Dii:

ABB | Abengoa Solar | Cevital | DESERTEC Foundation | Deutsche Bank | Enel Green Power | E.ON

Flagsol | HSH Nordbank | Munich Re | M+W Group | NAREVA Holding | Red Eléctrica de España | RWE

Saint-Gobain Solar | SCHOTT Solar | Siemens | Terna (Italy) | UniCredit

Associated Partners of Dii:

3M | AGC | Audi | BASF | BearingPoint | Bilfinger Berger | Bosch Rexroth | Commerzbank | Concentrix Solar

Conergy | Deloitte | Dow Corning | Evonik Industries | FCC Energía | First Solar | FLABEG

Fraunhofer Gesellschaft | GL GARRAD HASSAN | HSBC | IBM | ILF Consulting Engineers | Italgen | KAEFER

Lahmeyer International | Maurisolaire | Max-Planck-Gesellschaft | Morgan Stanley | NUR ENERGIE | OMV

Schoeller Renewables | SMA Solar Technology | TERNA ENERGY (Greece) | TÜV SÜD

Contact for media: Alexander Mohanty

UniCredit Media Relations: Dii GmbH

E-Mail: MediaRelations@unicredit.eu E-Mail:mohanty@dii-eumena.com

Phone: +39 02 88628236 Phone: +49 89 340 7705 20

www.unicreditgroup.eu www.dii-eumena.com