Page 1

ALPHA SERVICES AND HOLDINGS EUROMONEY AWARDS FOR EXCELLENCE 2021 Press Release H1 2021 Results : Normalised¹ Profit After Tax of Euro 213 million ; Material improvement of CoR in Q2 , ahead of FY 2021 target GREECE BEST BANK Alpha Bank's CEO , Vassilios Psaltis stated : " In May , we embarked on a game - changing transaction for the Greek banking landscape , as we decided to proceed with the first growth - oriented Share Capital Increase since 2008 , raising Euro 800 million . With overwhelming support from our shareholders , we have very successfully completed this capital raising endeavour , and have firmly positioned our Bank as a leading partner to our customers , supporting them to benefit from the strong growth impetus from the forthcoming deployment of the RRF funds . Our focus is now fully on the implementation of Project Tomorrow . Following the completion in June of the second largest rated NPE securitization in Europe ( Project Galaxy ) , we are already making excellent progress on our plan to further reduce NPEs , by progressing multiple transactions in excess of Euro 8 billion in Greece and Cyprus even ahead of schedule , with an aim of reaching a 7 % Group NPE ratio in 2022 . Our strong quality balance sheet delivered , once again , a best - in - class performance among our Greek peers in the ECB's 2021 Stress Test , with the highest ending CET1 FL ratio under the adverse scenario of 8.3 % , jumping to 10.2 % pro forma for the capital increase . On the business development front , our strategy to partner with internationally reputable players in selected fields to deliver a compelling value proposition to our customers is progressing swiftly . Following the establishment of a new partnership with Generali in bancassurance , we shifted our attention to the area of payments , where we agreed with Nexi , a leading European paytech company , to enter into a long - term strategic partnership . Furthermore , in real estate , we are launching a process to identify the right partner to maximise our value potential in this field . In the first half of the year , our commercial activity in Greece also excelled . Net credit expansion stood at Euro 0.4 billion , while we are building a strong pipeline that will allow us to meet , and even exceed , this year's target . We have also made strong inroads in asset gathering : deposit additions reached Euro 1.3 billion , while we added Euro 0.8 billion of AUMs² . These intense efforts allowed for a first half core pre - provision income of Euro 463 million and a normalised profit after tax of Euro 213 million , vs. Euro 66 million last year . Our total capital ratio , post Galaxy and the capital increase , is at 17.4 % , with CET1 at 14.8 % , allowing us to credibly support the expansion of our loan book . The strong recovery in tourism and the timely inflow of the first RRF funds give us confidence that Greece is back on a growth trajectory . Alpha Bank is on track to meet its ambitious targets and management is fully committed and excited to grasp all opportunities of this new phase of expansion . ” 1 ¹ Normalised Profit After Tax in H1 2021 , adjusted for losses related to Project Galaxy of Euro 2.1 billion and excluding gains on financial transactions of Euro 91 million , non - recurring expenses of Euro 173 million , transactions related impairment losses of Euro 351 million and tax of Euro 21 million . 2 Non Money Market AUMs . Press Release H1 2021 Results