UniCredit S.p.A. ("UniCredit") and Alpha Services and Holdings S.A. ("Alpha") announce that, having received approvals from all relevant authorities and following completion of the due diligence process, UniCredit has acquired from Alpha International Holdings S.M.S.A., 100% subsidiary of Alpha, a 90.1% stake in Alpha Bank Romania S.A. ("Alpha Bank Romania") in consideration of (i) 9.9% of the share capital of UniCredit Bank S.A. ("UniCredit Romania") and (ii) circa Euro 255 million in cash.

The transaction is part of the strategic partnership between UniCredit and Alpha Services and Holdings, announced on 23 October 2023.

The acquisition starts the process for a gradual integration of Alpha Bank Romania into UniCredit Group. Subject to legal and authorization stages, integration will be completed with the merger through absorption of Alpha Bank Romania S.A. within UniCredit Bank S.A. estimated to take place in the second part of 2025.

The merger will bring together two complementary banks, both with long-standing relationships and expertise in the Romanian market. The experience of UniCredit Romania and Alpha Bank Romania, both in the corporate and retail segments, will strengthen the position of the resulting bank, that will bring UniCredit Group on the third place in the Romanian market - subsidiaries included - with a combined market share of around 12% in terms of total assets.

Alpha will retain its longstanding presence in the Country by having, post-merger completion, a 9.9% of UniCredit Bank S.A.

Alpha Bank Romania change of ownership will not bring immediate changes for its customers, who will continue to be served as before, both through electronic channels and in physical offices. As the natural stages of the integration process will be completed. all the necessary or useful information will be made available, the main objective being to ensure a transparent and easy transition for all the bank`s customers, also on websites (https://www.unicredit.ro/en/institutional/the-bank/alphabank-unicredit-en.html; https://www.alphabank.ro/despre-noi/noutati-alpha-bank-romania ).

UniCredit mandated Antoaneta Curteanu as new Executive President of Alpha Bank Romania to coordinate the integration process into UniCredit Romania. Andrei Bratu will also join Alpha Bank Romania, on behalf of UniCredit, to act as Executive Vice President, coordinating the Wholesale Division responsible for managing corporate clients.

Sergiu Oprescu, the Executive President of Alpha Bank Romania prior to the change in the shareholding, will in the following period join the management of UniCredit Romania, at the level of the Supervisory Board, after the approval by the National Bank of Romania for the new role. At the same time, Alpha Services and Holdings designated two members within the Supervisory Board of UniCredit Romania.

Andrea Orcel, CEO of UniCredit said: "This is a decisive step in our strategic partnership with Alpha, allowing us to further enhance our presence in the country for the benefit of clients and our wider stakeholders. Romania holds strategic importance within our growing Eastern European region. With a stronger, efficient bank powered by innovative products made available to a larger customer base we will be able to increase support to individuals, SMEs and local communities. The resulting bank will be well positioned for growth opportunities in the market, as well as for the development of the potential of all employees in Romania and across the wider Group".

Vassilios Psaltis, CEO of Alpha Services and Holdings said: "The timely completion of our transaction in Romania underscores the value both parties place on the strategic agreement announced last year. Together with UniCredit, we are building a leading bank in the Romanian market -reflecting Alpha Bank's longstanding presence in the country -while actively collaborating across multiple areas to deliver top-tier services to Greek companies expanding into Europe and to European groups looking to invest in Greece".

Mihaela Lupu, CEO of UniCredit Bank Romania said: "We are happy to collaborate with the Alpha Bank Romania team, each of us continues to be concerned with the organic growth strategy, and, in parallel, to prepare and implement the merger. During this transition period, we are ensuring business development, quality service to our customers, the best possible work environment for employees, focusing on growth and transparency as the merger process progresses."

Sergiu Oprescu, Executive President of Alpha Bank Romania, said: "I am confident that today's step towards merger lays the groundwork for one of the most important, dynamic and customer-focused banking institutions in Romania. This institution resulted will stand as a modern, leading force in the industry—one that not only meets but anticipates the evolving needs of our customers and all stakeholders in an increasingly competitive and fast-changing business landscape".