Earnings release
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Financial Results February 26th, 2026 FY2025 Financial Results & 2026-2028 Business Plan ❖ FY2025 Results exceeding expectations ✓ Earnings per share (EPS) at €37 cents, of which 50% coming from our non-Greek operations ✓ RoTBV at 16.0% ✓ 55% payout ratio or €717m; cash dividend1 at €11.8 cents per share and €288m share buyback ✓ TBV per share at €2.49 ✓ Organic Loan Growth of €5.3bn in FY2025 ✓ Customer deposits up €4.1bn in FY2025 ✓ Managed funds up €2.3bn in FY2025 ✓ Total CAD at 20.0%2, CET1 at 15.6%2 ✓ NPE ratio at 2.6% - NPEs coverage ratio at 95.2% ❖ Business Plan 2026-2028 ✓ RoTBV of c.17% in 2028 ✓ EPS CAGR of c.10% ✓ Cumulative Payout3 for 2026-28 up by c.50% compared to the 2023-25 payout 1 Including €170m (€4.7 cents / share) interim dividend paid in November 2025. Subject to Regulatory and AGM approval. 2 Pro forma for “Sun” NPE transaction and synthetic securitization. Accounting for payout accrual. Including period profits, subject to AGM approval. Payout subject to regulatory and AGM approval. 3Including dividend in cash and share buybacks. Subject to Regulatory and AGM approval.
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Financial Results February 26th, 2026 “In 2025, we surpassed all the goals set for the year, achieving remarkable organic growth in loans, deposits, and assets under management. Loans grew by €5.3bn, deposits increased by more than €4bn and managed funds rose by 30%. Our acquisitions had a notable impact: we strengthened our position in Cyprus through the legal merger of our banks and insurance companies; meanwhile, acquiring Eurolife is broadening our franchise in Greece. This is fully in line with our strategy to diversify revenue streams across geographies and the three core businesses of banking, insurance and asset management. Net profit per share reached €37cents, half of which came from our non -Greek operations, and the RoTBV climbed to 16%, a full percentage point above our initial expectations. Additionally, we are distributing 55% of profits to shareholders. Strong financial performance allows us to undertake meaningful social impact activities. We are expanding our demographic initiative, strengthening Greece’s top start-up incubator EGG and contributing substantially to public school renovations in Greece. Similar social impact actions are implemented in Bulgaria and Cyprus. We are excited about the potential of our regional franchise as reflected in our 3 -Year Plan for 2026 –2028. Key growth drivers include credit expansion of c. 8% per annum, ongoing growth in wealth management, synergies from our leading presence in Cyprus, prospects arising from euro adoption in Bulgaria and the Eurolife acquisition. Overall, we expect an annual average growth of 10% in EPS, driving the RoTBV to 17% by 2028. I would like to thank our people for their commitment and teamwork, our customers for their trust and our shareholders for their support.” Fokion Karavias, CEO
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Financial Results February 26th, 2026 2025 Financial Results Review 2025 was a year of robust performance for Eurobank, which exceeded expectations. Specifically: ▪ Net interest income rose by 1.7% y-o-y to €2,549m. Net interest margin receded by 25 basis points y-o-y to 2.48%, reflecting the reduction in the ECB rates (FY2025 average ECB Deposit Facility Rate of 2.26% compared to 3.73% for FY2024). ▪ Net fee and commission income expanded by 15.7% y-o-y to €770m, mainly due to fees from Network activities and Wealth Management Business, as well as Insurance income following the CNP Cyprus Insurance acquisition and accounted for 75 basis points of total assets. ▪ Core income grew by 4.6% y-o-y to €3,319m. Total operating income increased by 4.0% y-o-y to €3,372m. ▪ Operating expenses rose 17.4% y-o-y to €1,258m. The cost to core income ratio and the cost to total income ratio reached 37.9% and 37.3% respectively in FY2025. ▪ Core pre-provision income was down by 1.9% y-o-y to €2,061m, whereas pre-provision income was down by 2.6% to €2,114m. ▪ Loan loss provisions decreased by 3.6% y-o-y to €308m, accounting for 59 basis points of average net loans. ▪ Core operating profit before tax was down by 1.6% y-o-y to €1,753m. ▪ Adjusted net profit was down by 4.9% y-o-y to €1,412m. Reported net profit reached €1,362m and includes, among others, a VES costs of €27m at Hellenic Bank, a €58m negative goodwill from the CNP Cyprus Insurance acquisition and a €19m contribution towards government projects. EPS and the return on tangible book value reached €0.37 and 16.0%, respectively. ▪ The adjusted net profit of the SEE operations increased by 4.5% y-o-y to €741m, contributing 52.5% to the profitability of the Group. Specifically, the adjusted net profit in Cyprus grew by 1.4% y-o-y to €491m and in Bulgaria was up by 8.0% y-o-y to €224m. ▪ The NPE ratio declined to 2.6% and the NPEs coverage ratio increased to 95.2% at 31 December 2025. ▪ Capital adequacy remained robust, with Total CAD and CET1 ratios4 reaching 20.0% and 15.6% at 31 December 2025, respectively. ▪ Tangible book value per share reached €2.49 at 31 December 2025, up 7.8% y-o-y. ▪ Total assets amounted to €108.0bn, of which €62.8bn in Greece, €28.7bn in Cyprus and €13.6bn in Bulgaria. ▪ Loans grew organically by €5.3bn in FY2025, of which €3.8bn in Greece and €1.6bn in SEE. Total gross loans amounted to €56.0bn at 31 December 2025, of which €37.3bn in Greece, €8.8bn in Cyprus and €8.9bn in Bulgaria. At a Group level, business loans stood at €34.3bn, mortgages at €12.9bn and consumer loans at €4.8bn. ▪ Customer deposits increased by €4.1bn in FY2025. Total deposits amounted to €82.7bn at 31 December 2025, of which €45.2bn in Greece, €23.9bn in Cyprus and €11.0bn in Bulgaria. The loans to deposits ratio and the liquidity coverage ratio were 66.1% and 172.2% at 31 December 2025, respectively. ▪ Managed funds grew by 30% y-o-y to €9.9bn at 31 December 2025 . Private banking client assets and liabilities increased by 12% y-o-y to €14.5bn at 31 December 2025. 4 Pro forma for “Sun” NPE transaction and synthetic securitisation. Accounting for payout accrual. Including period profits, subject to AGM approval. Payout subject to regulatory and AGM approval.
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Financial Results February 26th, 2026 2026-2028 Business Plan In a relatively stable interest rates environment, Eurobank aims to increase the RoTBV to c.17% in 2028, which will lead to a solid growth of tangible book value per share and an increase of c.50% of the cumulative payout for the period 2026-2028, compared to the period of 2023-2025. Growth will be mainly driven by the organic loan growth (c.7.5% CAGR), the benefits and synergies of the leading position in Cyprus, the acquisition of Eurolife Life insurance business and growth in wealth management (c.16% CAGR in assets under management). The 2026-2028 financial goals are as follows: 5 Including cash dividend and share buybacks. Subject to Regulatory and AGM approval. 6 Including period profits and shareholders’ reward accrual, subject to Regulatory and AGM approval. 2026 2028 Core Operating Profit c.€1.9bn c.€2.3bn RoTBV c.16.0% c.17.0% EPS c.10% CAGR Payout ratio5 c.55% ≥55% CET16 (post payout accrual) >14.0%
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Financial Results February 26th, 2026 Adjusted Net Profit (€m) (€εκ.) Core Operating Profit (€m) NPE Ratio (%) Provisions / NPEs (%) Capital Adequacy (%) Return on Tangible Book Value (%) 1,484 1,412 FY2024 FY2025 1,782 1,753 FY2024 FY2025 2.9 2.6 FY2024 FY2025 88.4 95.2 FY2024 FY2025 15.6 20.0 CET1 CAD 18.5 16.0 FY2024 FY2025
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Financial Results February 26th, 2026 P&L (€m) FY2025 FY2024 Change Net Interest Income 2,549 2,507 1.7% Net Fee & Commission Income 770 666 15.7% Total Operating Income 3,372 3,242 4.0% Total Operating Expenses 1,258 1,071 17.4% Core Pre-Provision Income 2,061 2.101 -1.9% Pre-Provision Income 2,114 2,171 -2.6% Loan Loss Provisions 308 319 -3.6% Core Operating Profit 1,753 1,782 -1.6% Adjusted Net Profit 1,412 1,484 -4.9% Net Profit 1,362 1,448 -6.0% Balance Sheet (€m) FY2025 FY2024 Consumer Loans 4,816 4,535 Mortgages 12,934 12,474 Small Business Loans 3,571 3,586 Large Corporates & SMEs 30,721 27,307 Total Gross Loans 55,972 52,262 Total Customer Deposits 82,704 78,593 Total Assets 107,976 101,150 Financial Ratios FY2025 FY2024 Net Interest Margin 2.48% 2.73% Cost to Income 37.3% 33.0% NPE Ratio 2.6%7 2.9%7 Provisions / NPEs 95.2%8 88.4%8 Provisions to average Net Loans 0.59% 0.69% Return on Tangible Book Value 16.0% 18.5% Earnings per Share (€) 0.37 0.39 CET1 15.6%9 15.7% 7 Excluding APS NPEs of Eurobank Ltd, which are classified as HFS as of 30 September 2025. 8 Excluding APS NPEs of Eurobank Ltd, which are classifies as HFS as of 30 September 2025, as well as the respective provisions. 9 Pro forma for “Sun” NPE transaction and synthetic securitisation. Accounting for payout accrual. Including period profits, subject to AGM approval. Payout subject to regulatory and AGM approval.
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Financial Results February 26th, 2026 ❖ Adjusted net profit: Net profit/loss attributable to equity holders from continuing operations excluding restructuring costs, goodwill impairment/ gain on acquisition, gains/losses related to the transformation and NPE reduction plans, contributions to Greek State’s infrastructure projects and income tax adjustments. ❖ Basic Earnings per share (EPS): Net profit attributable to ordinary shareholders divided by the weighted average number of ordinary shares in issue during the period, excluding the average number of ordinary shares purchased by the Group and held as treasury shares. ❖ Common Equity Tier 1 (CET1): In accordance with the Regulation (EU) No 575/2013, as in force, Common Equity Tier 1 regulatory capital, divided by total Risk Weighted Assets (RWA). ❖ Core Operating Profit: Core pre-provision income minus impairment losses relating to loans and advances charged in the reported period. ❖ Core Pre-provision Income (Core PPI): The total of net interest income, net banking fee and commission income and income from non banking services minus the operating expenses of the reported period. ❖ Cost to core income: Total operating expenses divided by total core operating income. Core operating income is the total of net interest income , net banking fee and commission income and income from non banking services for the reported period. ❖ Cost to Income ratio: Total operating expenses divided by total operating income. ❖ Fees and commissions: The total of net banking fee and commission income and income from non banking services of the reported period. ❖ Fees and commissions over assets ratio: The Fees and commissions of the reported period, annualized and divided by the average balance of continued operations’ total assets (the arithmetic average of total assets, excluding those related to discontinued operations’ at the end of the reported period, at the end of interim quarters and at the end of the previous period). ❖ Income from trading and other activities : The total of net trading income , gains less losses from investment securities and other income/ (expenses) of the reported period. ❖ Loans to Deposits ratio: Loans and advances to customers at amortised cost divided by due to customers at the end of the reported period. ❖ Liquidity Coverage Ratio (LCR ): The total amount of high quality liquid assets over the net liquidity outflows for a 30-day stress period. ❖ Net Interest Margin (NIM): The net interest income of the reported period annualised and divided by the average balance of continued operations’ total assets (the arithmetic average of total assets, excluding those related to discontinued operations at the end of the reported period, at the end of interim quarters and at the end of the previous period). ❖ Non-performing exposures (NPEs): NPEs (in compliance with EBA Guidelines) are the Group’s material exposures which are more than 90 days past-due or for which the debtor is assessed as unlikely to pay its credit obligations in full without realization of collateral, regardless of the existence of any past due amount or the number of days past due. The NPEs , as reported herein, refer to the gross loans at amortised cost except for those that have been classified as held for sale. ❖ NPEs formation: Net increase/decrease of NPE in the reported period excluding the impact of write offs , sales and other movements. ❖ NPEs Coverage ratio : Impairment allowance for loans and advances to customers and impairment allowance for credit related commitments (off balance sheet items), divided by NPEs at the end of the reported period. ❖ NPEs ratio: NPEs divided by gross loans and advances to customers at amortised cost at the end of the reported period. ❖ Pre-Provision Income (PPI ): Operating income minus operating expenses as disclosed in the financial statements for the reported period. Glossary - Definition of Alternative Performance Measures (APMs) and other selected financial measures/ ratios
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Financial Results February 26th, 2026 ❖ Provisions (charge) to average net loans ratio (Cost of Risk) : Impairment losses relating to loans and advances charged in the reported period, excluding the amount associated with loans and advances to customers at amortized cost classified as held for sale, annualised and divided by the average balance of loans and advances to customers at amortised cost (the arithmetic average of loans and advances to customers at amortised cost, at the end of the reported period, at the end of interim quarters and at the end of the previous period). ❖ Return on tangible book value ( RoTBV): Adjusted net profit , post AT1 coupon payments, divided by average tangible book value. ❖ Tangible Book Value (TBV ): Total equity excluding preference shares , AT1 capital instruments and non- controlling interests minus intangible assets. ❖ Tangible Book Value/Share (TBV/S): Tangible book value divided by outstanding number of shares as at period end excluding own shares. ❖ Total Capital Adequacy ratio : In accordance with the Regulation (EU) No 575/2013 as in force , Total regulatory capital divided by total Risk Weighted Assets (RWA). The RWA are the Group’s assets and off - balance-sheet exposures, weighted according to risk factors based on Regulation (EU) No 575/2013, taking into account credit, market and operational Risk.
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31 Dec 2025 31 Dec 2024 ASSETS Cash and balances with central banks 15,628 16,131 Due from credit institutions 2,356 2,196 Derivative financial instruments 780 838 Loans and advances to customers 54,663 50,953 Investment securities 24,884 22,184 614 54 Property and equipment 1,067 975 Investment property 1,331 1,404 Intangible assets 511 415 Deferred tax assets 3,629 3,780 Other assets 3,127 2,274 Total assets 107,976 101,150 LIABILITIES Due to central banks and credit institutions 3,851 2,800 Derivative financial instruments 915 1,120 Due to customers 82,704 78,593 Debt securities in issue 7,352 7,056 Insurance contract liabilities 684 108 Other liabilities 1,847 2,574 Total liabilities 97,353 92,251 EQUITY Share capital 799 809 8,734 8,090 Additional Tier I capital instruments 1,090 - 10,623 8,899 107,976 101,150 1 Jan - 1 Jan - 31 Dec 2025 31 Dec 2024 Net interest income 2,549 2,507 Net banking fee and commission income 631 561 Income from non banking services 139 105 Net trading income and gains/losses from investment securities 44 107 Other income/(expenses) 67 61 of which: gain on acquisition of (i) CNP Cyprus Insurance Holdings in 2025, (ii) an additional shareholding in Hellenic Bank in the second quarter of 2024 Operating income 3,430 3,341 Operating expenses (1,285) (1,099) (27) (27) (379) (303) (71) 16 Other impairments, risk provisions and related costs (35) (60) Restructuring costs (62) (168) Special tax levy on credit institutions (35) (22) Share of results of associates and joint ventures 47 161 Profit before tax from continuing operations 1,681 1,850 Income tax (310) (339) 25 - Net profit from continuing operations 1,371 1,511 Net loss from discontinued operations (9) (7) Net profit 1,362 1,504 Net profit attributable to non controlling interests 0 56 Net profit attributable to equity holders οf the parent company 1,362 1,448 58 99 of which adjustment to deferred tax of which impairment (loss)/release for HFS loan-related projects of which contribution to Greek State's infrastructure projects Notes: of which securities backing insurance and investment contract liabilities In € million Impairment losses relating to loans and advances to customers EUROBANK S.A. General Commercial Registry No: 154558160000 In € million CONSOLIDATED BALANCE SHEET INFORMATION Share premium, reserves and retained earnings Total equity and liabilities Total equity CONSOLIDATED INCOME STATEMENT INFORMATION 1. In December2025, the mergerby absorptionof EurobankHoldingsby EurobankS.A. was completed,and EurobankS.A. becamethe ultimate parentcompanyof theGroup. 2. Thespecialtaxlevyon creditinstitutions,previouslyincludedwithinincometax,is presentedseparately. 3. HellenicBank(currentlyEurobankLimited)and its subsidiarieshavebeenincludedin the Group'sFinancialStatementsas of the 3rd quarterof 2024. Followingitsacquisitionby HellenicBank,CNPCyprussubgroupwasconsolidatedas of the2nd quarterof 2025. 4. The auditof the aboveConsolidatedBalanceSheetand IncomeStatementinformationby theEurobank’sauditorsis in progress. The Annual FinancialReportfortheyearended31 December2025, includingtheIndependentAuditor’sReport,willbe publishedon 6 March2026.