Earnings release
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Consolidated Quarterly Financial Report as at 30 September 2025 | Page 1 PRESS RELEASE CONSOLIDATED RESULTS AS AT 30 September 2025 Consolidated net profit for the first 9 months of 2025 amounted to Euro 105.9 million (compared to 116.4 million euros in Q3 2024) and the annualised ROE increasing to 10.1% with good commission growth (+5.1%) Capital soundness improved significantly with CET 11 at 18.9% (+180 bps from YE 2024) and TCR at 19.9% (+210 bps) The cost of risk remained law at 22 bps2 as in the first 9 months of 2024 Gross NPE ratio remains low at 3.0% (3.1% at YE2024) Desio, 6 November 2025 - The Board of Directors of Banco di Desio e della Brianza S.p.A. approved the "Consolidated Quarterly Financial Report as at 30 September 2025". The main income statement and balance sheet indicators for the period are summarised in the table below. PROFITABILITY Consolidated net profit stood at Euro 105.9 million (-9.0% compared to Q3 2024) Profitability improved (annualised ROE at 10.1%) with cost of risk at 22 bps2 Operating profit of Euro 185.8 million, with net fees up 5.1% (supported by managed and Bancassurance) and net interest income down 9.4%, impacted by market rate movements Cost income ratio3 at 59.0% (54.9% at Q3 2024) SUPPORTING GROWTH Loans to ordinary customers stable at Euro 12.4 billion (as at the end of 2024) Direct inflows of Euro 15.8 billion (+0.1%)4 Indirect inflows grew to Euro 23.3 billion (+3.6%, with ordinary customers up by 4.7%), with good growth in Wealth Management with assets of Euro 10.2 billion, exceeding the business plan target of Euro 10 billion (up by Euro 0.5 billion compared to the end of the previous financial year) RELIABILITY Funding plan completed early with return to the market with senior bonds of Euro 300 million (six times oversubscribed) and CQS Fides securitization at particularly competitive conditions Low Incidence of non-performing loans: Gross NPL ratio at 3.0% and net NPL ratio at 1.6% (3.1% and 1.6% respectively at YE 2024) Prudent coverage levels on non-performing loans5 at 46.8% (coverage on NPLs net of government guarantees at 51.5%) and on performing loans at 0.93% Solid liquidity confirmed with LCR at 211.9% (previously 191.6%) and NSFR at 136.1% (previously 137.3%) CAPITAL SOUNDNESS 16 Banco Desio's continued strengthening confirmed by the Long-Term Issuer Default Rating (IDR) of (BBB-) and Viability Rating (VR) of (bbb-) assigned by Fitch Ratings on May 15, 2025 Solid growth in capital ratios, well above regulatory requirements, thanks to authorization to use the A-IRB rating model to reflect the good quality of the credit portfolio and thanks to stable organic capital generation Coefficients7 Banco Desio Brianza Banco Desio Group Brianza Unione Group 8 CET 1 21.3% 18.9% 13.7% TIER 1 21.3% 18.9% 14.5% Total Capital 22.4% 19.9% 16.4% SUSTAINABILITY Banco Desio's S&P Global ESG Score improved to 47 points Banco Desio's institutional website (bancodesio.it/it/esg-e-sostenibilita/obiettivi/le-nostre-ambizioni) shows the ratings/scores assigned by the most accredited sustainability rating agencies Successfully placed in October, with early closure of the subscription period, the fourth issue of senior preferred green bonds for Euro 40 million, dedicated to the retail market, completing the green financing of the industrial plan one year ahead of schedule ________________________________________ The notes are reported at the end of this document
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Consolidated Quarterly Financial Report as at 30 September 2025 | Page 2 *** The Board of Directors of Banco di Desio e della Brianza S.p.A., which met on 6 November 2025, approved the "Consolidated Quarterly Financial Report as at 30 September 2025" (hereinafter also the "Report"), prepared on a voluntary basis. The Report was also prepared for the purposes of determining the result for the period for the calculation of own funds and prudential ratios. As far as the recognition and measurement criteria are concerned, the Report is prepared in accordance with the IAS/IFRS in force at the reporting date, as shown below in the section "Basis of Preparation". Please refer to the specific disclosure dedicated to the description of the reference context in which this financial disclosure was prepared, which is affected by international geopolitical tensions and the significant uncertainties and risks associated with them. Such risks and uncertainties may have a significant impact on the expected results, driven by many factors beyond management's control. The amounts in the tables and statements of the Report are expressed in Euro thousands. The financial statements in this Report are subject to a limited audit by KPMG S.p.A. for the inclusion of the interim result in own funds. The balances shown in the statement of assets and liabilities of the Balance Sheet for the comparison period have been restated following the completion of the Purchase Price Allocation (PPA) related to the acquisition of the branches of Banca Popolare Puglia e Basilicata on 7 December 2024. As required by IFRS 3, the Group recognised the adjustments to the provisional amounts as if the accounting for the business combination had been completed at the acquisition date and therefore proceeded to amend the comparative information for the financial year 2024 (ref. explanatory note "Comparability of financial statements" in the General part of the Accounting policies of the Consolidated Half- Year Financial Report at 30 June 2025.
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Consolidated Quarterly Financial Report as at 30 September 2025 | Page 3 Results of the period Summary data and balance sheet, income statement and financial ratios The alternative performance measures (APMs) presented in this Report have been identified to facilitate understanding of Banco Desio Group's performance. APMs are not required by international accounting standards, represent supplementary information with respect to the measures defined under IAS/IFRS, and are in no way a substitute for them. For each APM, where necessary, evidence of the calculation formula is provided, and the quantities used can be inferred from the information contained in the relevant tables and/or reclassified financial statements contained in this Report. These measures are based on the European Securities and Markets Authority (ESMA) guidelines of 5 October 2015 (ESMA/2015/1415), incorporated in Consob Communication No. 0092543 of 3 December 2015. Adhering to the indications contained in the update of document "ESMA 32-51-370 – Questions and answers – ESMA Guidelines on Alternative Performance Measures (APMs)", published on 17 April 2020, no changes were made to the APIs and no new ad hoc indicators were introduced to separately highlight the effects of international geopolitical crises and the Covid-19 epidemic. Table 1 - Asset values Table 2 - Economic values (6) 30.09.2025 31.12.2024 Amount s in Euro t housandsRestated abs. %Total assets 18,643,198 18,635,496 7,702 0.0%Financial assets 4,540,012 4,289,496 250,516 5.8%Cash and cash equivalents (1)456,664 1,019,658 -562,994 -55.2%Loans with banks (2)362,070 402,347 -40,277 -10.0%Gross Loans to customers(2)12,832,441 12,353,291 479,150 3.9% of which Gross Loans t o ordinary customers 12,358,918 12,353,291 5,627 0.0%Net Loans to customers(2)12,539,399 12,036,529 502,870 4.2% of which Net Loans t o ordinary cust omers 12,065,936 12,036,529 29,407 0.2%Tangible assets (3)224,990 230,253 -5,263 -2.3%Intangible assets 43,259 44,053 -794 -1.8%Payables to banks 589,164 798,673 -209,509 -26.2%Payables to customers (4) (5)12,875,419 13,222,342 -346,923 -2.6%Securities issued 2,941,693 2,584,873 356,820 13.8%Equity (including Profit for the period) 1,481,049 1,448,909 32,140 2.2%Own Funds 1,466,216 1,413,947 52,269 3.7%Total indirect inflows 23,336,312 22,534,481 801,831 3.6% of which Indirect inflows from ordinary cust omers 15,069,100 14,396,060 673,040 4.7% of which Indirect inflows from inst it utional cust omers 8,267,212 8,138,421 128,791 1.6% Changes(1)At 30 September 2025, Cash and cash equivalents included the current accounts, demand deposits and the amount on demand of Euro 0.4 billion relating to cash in excess of the commitment to maintain the compulsory reserve, invested inovernight deposits (Euro 0.9 billion at the end of the previous period).(2)pursuant to Circular 262, the balance of the financial statements item includes Held-to-collect (HTC) debt securities recognised at amortised cost, which are shown under financial assets in these summaries, and does not include currentaccounts and demand deposits recognised under Cash and cash equivalents.(3) the balance of the item at 30 September 2025 includes the right of use (RoU Asset) amounting to Euro 54.1 million in respect of operating leases falling under the scope of IFRS16 Leases, which came into effect as of 1 January 2019. (4) the balance of the item does not include the liability recognised in the item Payables to customers in the financial statements in respect of operating leases falling within the scope of I FRS16.(5) Including inflows repurchase agreements with institutional customers in the amount of Euro 744 million (Euro 1.2 billion at 31 December 2024)30.09.2025 30.09.2024 Amounts in Euro t housandsabs. %Operating income453,099468,065-14,966-3.2% of which Net int erest income261,049288,094-27,045-9.4%Operating expenses267,268249,92917,3396.9%Result from operations185,831218,136-32,305-14.8%Charges related to the banking system06,855-6,855-100.0%Current result after taxes105,885114,682-8,797-7.7%Non-recurring result after taxes19991-972-98.1%Profit (loss) for the period attributable to the Parent company105,904116,395-10,491-9.0%(6) from Reclassified Income Statement. Changes
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Consolidated Quarterly Financial Report as at 30 September 2025 | Page 4 Table 3 - Equity, economic and risk ratios Table 4 - Structure and productivity data 30.09.2025 31.12.2024RestatedEquity/Total assets 7.9% 7.8% 0.1%Equity/Loans to customers 11.8% 12.0% -0.2%Equity/Payables to customers 11.5% 11.0% 0.5%Equity/Securities issued 50.3% 56.1% -5.8%Common Equity Tier1 (CET1)/Risk-weighted assets (7) (8)18.9% 17.1% 1.8%Total Tier 1 capital (T1)/Risk-weighted assets (7) (8)18.9% 17.1% 1.8%Total Own funds/Risk-weighted assets (Total capital ratio) (7) (8)19.9% 17.8% 2.1%Financial assets/Total assets 24.4% 23.0% 1.4%Loans with banks/Total assets 1.9% 2.2% -0.3%Loans to customers/Total assets 67.3% 64.6% 2.7%Loans to customers/Direct inflows from customers 79.3% 76.1% 3.2%Payables to banks/Total assets 3.2% 4.3% -1.1%Payables to customers/Total assets 69.1% 71.0% -1.9%Securities issued/Total assets 15.8% 13.9% 1.9%Direct inflows from customers/Total assets 84.8% 84.8% 0.0%30.09.2025 30.09.2024Operating expenses/Operating income (Cost/Income ratio) 59.0% 53.4% 5.6%(Operating expenses + Banking-related expenses)/Operating income (Cost/Income ratio) 59.0% 54.9% 4.1%Net interest income/Operating income 57.6% 61.5% -3.9%Result from operations/Operating income 41.0% 46.6% -5.6%Current result after taxes/Equity - annualised (9) (10)10.1% 9.8% 0.3%Profit for the year/Equity (9) (R.O.E.) - annualised (10) (11)10.1% 9.4% 0.7%Current result before taxes/Total assets (R.O.A.) - annualised (10)1.2% 1.1% 0.1%30.09.2025 31.12.2024Net bad loans/Loans to customers 0.3% 0.3% 0.0%Net non-performing loans/Loans to customers 1.6% 1.6% 0.0%% Cov erage of bad loans 74.6% 76.2% -1.6%% Cov erage of bad loans before write-offs 74.8% 76.4% -1.6%% Total cov erage of non-performing loans 46.8% 50.4% -3.6%% Cov erage of non-performing loans before write-offs 46.9% 50.6% -3.7%% Cov erage of performing loans 0.93% 1.02% -0.09% abs. Changes abs. Changes abs. Changes30.09.2025 31.12.2024abs. %Number of employees 2,516 2,535 -19 -0.7%Number of branches 276 281 -5 -1.8% Amounts in Euro thousandsLoans to customers per employee (12)4,965 4,887 78 1.6%Direct inflows from customers per employee (12)6,2636,418-155-2.4%30.09.2025 30.09.2024abs. %Operating income per employee (12) - annualised (10)238 254 -16 -6.3%Result from operations per employee (12) - annualised (10)97 113 -16 -14.2%(9) net of the result for the period.(10) the 2024 year-end figure at 30.09.2024 is shown.(11) the annualised ROE at 30.09.2025 does not consider the annualisation of the Net non-recurring operating result.(12) based on the number of employees as the arithmetic mean between the period-end figure and the prev ious year-end figure.(7) Consolidated equity ratios calculated for Banco Desio. The ratios referred to the prudential superv isory scope of Brianza Unione at 30 September 2025 are: Common Equity Tier1 13.7%; Tier 1 14.5%; Total Capital Ratio 16.4%.(8) Equity ratios at 30.09.2025 are calculated by applying the transitional prov isions introduced by EU Regulation 2024/1623 - CRR3 (art. 468); ratios calculated without application of these prov isions are as follows: Common Equity Tier1 18.8%; Tier 1 18.8%; Total capital ratio 19.8% Changes Changes
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Consolidated Quarterly Financial Report as at 30 September 2025 | Page 5 Consolidated income statement The profit for the period amounted to Euro 105.9 million, down compared to the result of the previous period of 9.0%. Table 5 - Reclassified consolidated income statement The main cost and revenue components of the reclassified income statement are analysed below, commenting, where necessary, on cases of comparison on a non-homogeneous basis. Operating income The core revenue items from operations decreased by approximately Euro 15.0 million (-3.2%) compared to the comparison period, amounting to Euro 453.1 million. The performance is attributable to the decrease in net interest income of euro 27.0 million (-9.4%), which was affected by market rate dynamics, partially offset by the growth in net commissions of Euro 8.1 million (+5.1%), in the net result of financial assets and liabilities of Euro 3.6 million (+23.3%) and in other operating income and expenses of Euro 0.4 million (+13.5%). Finally, dividends amounted to Euro 0.6 million, in line with the comparison period (Euro 0.7 million). Operating expenses Overall operating expenses, which include personnel expenses, other administrative expenses, and net value adjustments on tangible and intangible assets, amounted to about Euro 267.3 million (Euro 249.9 million in the Items Amounts in Euro thousands30.09.2025 30.09.2024 Value %10+20 Net interest income261,049 288,094-27,045 -9.4%70 Div idends and similar income650677 -27 -4.0%40+50 Net commissions169,222 161,0768,146 5.1%80+90+100+110Net result of financial assets and liabilities 18,968 15,389 3,579 23.3%230 Other operating income/expenses3,2102,829 38113.5%Operating income 453,099 468,065 -14,966 -3.2%190 a Personnel expenses-175,311-165,194 -10,117 6.1%190 b Other administrativ e expenses-81,213-74,985 -6,228 8.3%210+220 Net v alue adjustments on tangible and intangible assets -10,744 -9,750 -994 10.2%Operating expenses -267,268 -249,929 -17,339 6.9%Result from operations 185,831 218,136 -32,305 -14.8%130a+100a Cost of credit -21,122 -20,419 -703 3.4%130 bNet v alue adjustments on own securities3831,059 -676 -63.8%140 Gains/losses from contractual amendments without derecognition -125 22 -147 n.s.200 a Net allocations to prov isions for risks and charges - commitments and guarantees giv en 474 889-415 -46.7%200 bNet allocations to prov isions for risks and charges - other-1,381-16,92715,546-91.8%Charges related to the banking system0 -6,8556,855 -100.0%250Gains (Losses) on inv estments356 342 14 4.1%Current result before taxes164,416 176,247 -11,831 -6.7% 300 Income taxes on current operations-58,531-61,565 3,034 -4.9%Current result after taxes105,885 114,682 -8,797 -7.7%280 Gains (losses) on disposal of inv estments190 19 n.s.Allocations to prov isions for risks and charges, other allocations, "one-off" expenses and rev enues0 -610 610 -100.0%Non-recurring result before taxes19 -610 629 n.s.Income taxes on non-recurring items0 1,601-1,601 -100.0%Non-recurring result after taxes19 991 -972 -98.1%330 Profit (Loss) for the year 105,904 115,673 -9,769 -8.4%340 Profit (Loss) for the period attributable to minority interests0 -722722 -100.0%350 Profit (Loss) for the period attributable to the Parent Company 105,904 116,395 -10,491 -9.0% Changes
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Consolidated Quarterly Financial Report as at 30 September 2025 | Page 6 comparison period), reflecting an increase of Euro 10.1 million (+6.1%) in personnel expenses, Euro 6.2 million (+8.3%) in other administrative expenses, and Euro 1.0 million (+10.2%) in net value adjustments on tangible and intangible assets. The development of the aggregate expresses the contribution of the branches BU acquired on 7 December 2024, as well as the effect of the renewal of the employment contract. Result from operations Consequently, the result from operations amounted to Euro 185.8 million, a decrease of -14.8% compared to the comparison period. Current result after taxes From the result from operations of Euro 185.8 million, we can obtain the current result after taxes of Euro 105.9 million, down 7.7% compared to Euro 114.7 million in the comparison period, mainly due to: the cost of credit (given by the balance of Net value adjustments for impairment of financial assets at amortised cost and gains (losses) on sale or repurchase of receivables), amounting to approximately Euro 21.1 million (roughly Euro 20.4 million in the previous period); net value adjustments on own securities positive for Euro 0.4 million (positive for Euro 1.1 million in the comparison period); net allocations to provisions for risks and charges of negative Euro 0.9 million (negative Euro 16.0 million in the comparison period, which also included the transparency risk assessment); charges related to the banking system, which amounted to Euro 6.9 million in the comparison period, related to the Interbank Deposit Protection Fund (DGS), which in 2024, reached the target level collected through ordinary contributions; income taxes on current operations of Euro 58.5 million (formerly Euro 61.6 million). Non-recurring operating result after taxes At 30 September 2025, a non-recurring operating result of almost zero was recorded. In the comparison period, a positive non-recurring result of Euro 1.0 million was recorded as a result: charges related to the extraordinary contribution to the Interbank Deposit Protection Fund ("DGS") for Euro 4.0 million; the gross positive component of Euro 3.0 million achieved by way of price adjustment on the basis of targets assessed one year from the closing date, based on the agreements signed with Worldline with reference to the "Aquarius" transaction carried out in the financial year 2023; the provisional badwill of Euro 1.4 million resulting from the provisional purchase price allocation (PPA) process relating to Dynamica Retail, effective as of 1 June 2024 charges amounting to Euro 1.0 million related to the costs associated with the acquisition of the business unit of Banca Popolare di Puglia e Basilicata after the related positive tax effect of Euro 1.6 million. Result for the period attributable to minority interests At 30 September 2025, the result for the period attributable to minority interests was nil (negative for Euro 0.7 million in the comparison period) due to the effect of the change in the shareholding in Dynamica, which went from 89.23% to 100% at the reporting date (ref. paragraph "Change in the scope of consolidation" reported in the General Part of the Accounting Policies of the Consolidated Half-Year Financial Report at 30 June 2025). Result for the period attributable to the Parent Company The sum of the current result and the non-recurring result, considering the result attributable to minority interests, determines the profit for the period attributable to the Parent Company at 30 September 2025 of Euro 105.9 million.
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Consolidated Quarterly Financial Report as at 30 September 2025 | Page 7 Table 6 - Reconciliation of financial statements and reclassified income statement as at 30.09.2025 Items From Financial Statem entsReclassificationsReclassified statement Amounts in Euro thousands30.09.2025Non-performing loans v aluation effectsRecov ery of taxes/ expensesExpected loss on securities at amortised costAmortisation for leasehold improv ementsGains (Losses) on sale or repurchase of receiv ablesAllocations to provisions for risks and charges / other allocations, "one-off" expenses and revenuesSystem chargesReclassifications IFRS16 - LeasesPersonnel expensesNet allocations to prov isions for risks and charges - otherIncome taxes30.09.202510+20 Net interest income 262,081 -2,114 1,082261,04970 Div idends and similar income 65065040+50 Net commissions 169,222 0169,22280+90+100+110Net result of financial assets and liabilities 16,587 2,381 0 18,968230 Other operating income/expenses 33,498 -30,879 5910 3,210Operating incom e 482,038 -2,114 -30,879 0 591 2,381 0 0 1,082 0 0 0 453,099190 a Personnel expenses -175,311 0 0 0-175,311190 b Other administrativ e expenses -102,528 30,879 0 0 -9,564-81,213210+220 Net v alue adjustments on tangible and intangible assets -18,635 -591 8,482-10,744Operating expenses -296,474 0 30,879 0 -591 0 0 0 -1,082 0 0 0 -267,268Result from operations 185,564 -2,114 0 0 0 2,381 0 0 0 0 0 0 185,831130a+100a Cost of credit -20,634 2,114 -303 -2,381 82-21,122130 b Net v alue adjustments on own securities 80 303383140Gains/losses from contractual amendments without derecognition -125-125200 aNet allocations to prov isions for risks and charges - commitments and guarantees giv en 474474200 b Net allocations to prov isions for risks and charges - other -1,299 -82 0-1,381Charges related to the banking system 00250 Gains (Losses) on inv estments 356356Current result before taxes164,416 0 0 0 0 0 0 0 0 0 0 0164,416300 Income taxes on current operations -58,531 0-58,5310Current result after taxes105,885 0 0 0 0 0 0 0 0 0 0 0105,885280 Gains (losses) on disposal of inv estments 1919Allocations to prov isions for risks and charges, other allocations, "one-off" expenses and rev enues0 0 0 0 0Non-recurring result before taxes 19 0 0 0 0 0 0 0 0 0 0 0 19Income taxes on non-recurring items 00Non-recurring result after taxes 19 0 0 0 0 0 0 0 0 0 0 0 19320Profit (Loss) from discontinued operations after taxes0 0 0 0 0 0330 Profit (Loss) for the year 105,904 0 0 0 0 0 0 0 0 0 0 0 105,904340 Profit (Loss) for the period attributable to minority interests 00350 Profit (Loss) for the period attributable to the Parent Com pany 105,904 0 0 0 0 0 0 0 0 0 0 0 105,904
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Consolidated Quarterly Financial Report as at 30 September 2025 | Page 8 Consolidated balance sheet Funding Total inflows from customers as at 30 September 2025 amounted to approximately Euro 39.2 billion, up from the balance at the end of FY2024 (+2.1%). Direct inflows amounted to approximately Euro 15.8 billion, in line (+0.1%) with 31 December 2024, due to the growth in securities issued (+13.8%), partially offset by the decrease in payables to customers (-2.6%). Indirect inflows recorded a balance of Euro 23.3 billion as at 30 September 2025 (+3.6%). Inflows from ordinary customers amounted to Euro 15.1 billion, an increase of 4.7% compared to the end of the previous year; the increase is attributable to the performance of assets under management (+4.6%) and assets under administration (+4.8%). The following tables show the development of funding in the reporting period and the breakdown of direct and indirect funding, respectively. Table 7 - Inflows from customers Table 8 - Direct inflows from customers Amounts in Euro thousands30.09.2025 Incidence % 31.12.2024Incidence %Value %Payables to customers12,875,41932.9%13,222,34234.5%-346,923-2.6%Securities issued2,941,6937.5%2,584,8736.7%356,82013.8%Direct inflows 15,817,112 40.4% 15,807,215 41.2% 9,897 0.1%Inflows from ordinary customers 15,069,100 38.5% 14,396,060 37.5% 673,040 4.7%Inflows from institutional customers8,267,21221.1%8,138,42121.3%128,7911.6%Indirect inflows23,336,312 59.6% 22,534,481 58.8% 801,831 3.6%Total inflows from customers39,153,424 100.0% 38,341,696 100.0% 811,728 2.1% Changes Amounts in Euro thousands30.09.2025 Incidence % 31.12.2024Incidence %Value %Payables to customers12,875,419 81.4% 13,222,342 83.6% -346,923 -2.6%Current accounts and deposits11,005,989 69.6% 10,979,573 69.5% 26,416 0.2% current accounts and demand deposits 10,155,682 64.2% 10,126,755 64.1% 28,927 0.3% fixed-term deposits and restricted current accounts 850,307 5.4% 852,818 5.4% -2,511 -0.3%Repurchase agreements and securities lending780,2434.9%1,207,0097.6% -426,766 -35.4%Loans and other payables 1,089,187 6.9%1,035,7606.5% 53,427 5.2%Securities issued2,941,693 18.6% 2,584,873 16.4% 356,820 13.8%bonds at amortised cost and liabilities measured at fair v alue 2,941,671 18.6% 2,584,824 16.4% 356,847 13.8%certificates of deposit and other securities 22 0.0% 49 0.0% -27 -55.1%Direct inflows 15,817,112 100.0% 15,807,215 100.0% 9,897 0.1% Changes
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Consolidated Quarterly Financial Report as at 30 September 2025 | Page 9 Table 8-bis - Indirect inflows from customers Assets under management (ordinary and institutional customers) amounted to Euro 10.2 billion, exceeding the business plan target of Euro 10 billion, up by Euro 0.5 billion compared to the end of the previous financial year. The in-depth investigations conducted on investments held by customers (securities, funds, asset management, etc.) relating to issuers based in Russia, Belarus and Ukraine, or in any case having the rouble as their issuing currency, have not so far revealed any significant risk profiles. Employment and coverage The total value of gross loans to customers as at 30 September 2025 amounted to approximately Euro 12.8 billion, up compared with the balance at the end of 2024 (+3.9%). This includes loans to ordinary customers of Euro 12.4 billion (in line with the balance of the comparative period) and loans to institutional customers of Euro 0.4 billion. The total value of net loans to customers as at 30 September 2025 amounted to approximately Euro 12.5 billion, up compared with the balance at the end of 2024 (+4.2%). This includes loans to ordinary customers of Euro 12.1 billion (in line with the balance of the comparative period) and loans to institutional customers of Euro 0.4 billion. The following table shows the breakdown of net loans to customers by type at 30 September 2025 (compared to 31 December 2024). Table 9 - Breakdown of loans to customers Amounts in Euro thousands30.09.2025 Incidence % 31.12.2024Incidence %Value %Assets under Administration 5,646,783 24.2% 5,387,484 23.9% 259,299 4.8%Assets under Managem ent 9,422,317 40.4% 9,008,576 40.0% 413,741 4.6% Asset management 1,479,383 6.3% 1,436,103 6.4% 43,280 3.0% Mutual funds and Sicav4,960,387 21.3% 4,544,952 20.2% 415,435 9.1% Banking-insurance products2,982,547 12.8% 3,027,521 13.4% -44,974 -1.5%Inflows from ordinary customers 15,069,100 64.6% 14,396,060 63.9% 673,040 4.7%Inflows from institutional customers 8,267,212 35.4% 8,138,421 36.1% 128,791 1.6%Assets under Administration7,476,188 32.0% 7,403,456 32.9% 72,732 1.0%Assets under Management791,024 3.4% 734,965 3.2% 56,059 7.6%Indirect inflows 23,336,312 100.0% 22,534,481 100.0% 801,831 3.6% Changes Amounts in Euro thousands30.09.2025 Incidence % 31.12.2024 Incidence % Value %Mortgages 7,636,164 60.9% 7,850,492 65.2% -214,328 -2.7% fixed rate 4,846,944 38.7% 4,909,756 40.8% -62,812 -1.3% variable rate 1,020,150 8.1% 754,485 6.3% 265,665 35.2% m ixed rate (1)1,769,070 14.1% 2,186,251 18.1% -417,181 -19.1%Current accounts 941,499 7.5% 913,574 7.6% 27,925 3.1%Repurchase agreements and securities lending 473,463 3.8% 0 0.0% 473,463 n.s.Finance lease 156,622 1.2% 155,882 1.3% 740 0.5%Credit cards, personal loans and salary-backed loans 2,290,318 18.3% 1,972,492 16.4% 317,826 16.1%Other transactions 1,041,333 8.3% 1,144,089 9.5% -102,756 -9.0%Loans to customers 12,539,399 100.0% 12,036,529 100.0% 502,870 4.2% Changes(1) This category of loans includes loans the interest rate of which may change from fixed to v ariable at maturities and/or conditions set in the contract.
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Consolidated Quarterly Financial Report as at 30 September 2025 | Page 10 The sub-item "Other transactions" includes financing transactions other than those indicated in the previous sub- items (e.g. bullet loans, advances on invoices and bills subject to collection, import/export advances and other miscellaneous items). On the overall portfolio, the Credit Department continued its monitoring activities, whose analysis of the positions revealed an increase in the deterioration of existing credit facilities compared to previous quarters - albeit at levels in line with the pre-pandemic period - on which risk containment and management actions were activated. Monitoring the positions most directly or indirectly exposed to the current political and economic situation is one of the primary drivers of attention in order to ensure the highest quality of the loan portfolio over time and, at the same time, identify the best solutions to allow companies to continue their business. It is also noted that the Bank obtained an EIF credit line which, combined with the MCC guarantees, allowed SMEs to apply for access to government-guaranteed financing to address liquidity needs related to the ongoing economic and financial turmoil. Disposals of NPLs amounting to approximately 51 million euros (13 million UTPs and 38 million bad loans) made in the first nine months of 2025, combined with the trend in loans, led to a gross NPL ratio of 3.0% (3.1% at the end of 2024). The improvement of the asset mix (higher proportion of utp) led to the physiological reduction of the overall coverage of impaired loans to 46.8% (formerly 50.4%). At 30 September 2025, the coverage on non-performing loans net of government guarantees (MCC and SACE) was 51.5% (formerly 57.3 at 31 December 2024). The table below summarises the gross and net indicators of credit risk and related coverage levels9 Table 10 - Credit quality as at 30 September 2025 Table 10-bis - Credit Quality as at 31 December 2024 Bad loans 133,917 1.1% (99,946) 74.6% 33,971 0.3%Unlikely to pay 221,555 1.7% (73,709) 33.3% 147,846 1.2%Impaired past-due exposures 23,605 0.2% (3,589) 15.2% 20,016 0.1%Total impaired 379,077 3.0% (177,244) 46.8% 201,833 1.6%Stage 1 exposures 10,814,370 84.2% (19,619) 0.18% 10,794,751 86.1%Stage 2 exposures 1,638,994 12.8% (96,179) 5.87% 1,542,815 12.3%Performing exposures 12,453,364 97.0% (115,798) 0.93% 12,337,566 98.4%Total loans to customers 12,832,441 100.0% (293,042) 2.3% 12,539,399 100.0% Amounts in Euro thousands30.09.2025Gross exposureIncidence % of total loansValue adjustmentsCoverage ratioNet exposureIncidence % of total loansBad loans 153,205 1.2% (116,733) 76.2% 36,472 0.3%Unlikely to pay 213,213 1.7% (74,925) 35.1% 138,288 1.2%Impaired past-due exposures 19,107 0.2% (2,757) 14.4% 16,350 0.1%Total impaired 385,525 3.1% (194,415) 50.4% 191,110 1.6%Stage 1 exposures 10,248,270 83.0% (20,048) 0.20% 10,228,222 85.0%Stage 2 exposures 1,719,496 13.9% (102,299) 5.95% 1,617,197 13.4%Performing exposures 11,967,766 96.9% (122,347) 1.02% 11,845,419 98.4%Total loans to customers 12,353,291 100.0% (316,762) 2.6% 12,036,529 100.0% Amounts in Euro thousands31.12.2024Gross exposureIncidence % of total loansValue adjustmentsCoverage ratioNet exposureIncidence % of total loans
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Consolidated Quarterly Financial Report as at 30 September 2025 | Page 11 Securities portfolio and net interbank position As at 30 September 2025, the Bank's total financial assets amounted to Euro 4.5 billion, up +5.8% compared to the previous year-end figure. With reference to the issuers of securities, the overall portfolio at 30 September 2025 consisted of 73.6% government securities, 14.8% securities of banking issuers and the remainder of other issuers. The table below provides details of the aggregate under consideration, highlighting the changes over the time period considered. Table 11 - Financial assets: composition of the ownership portfolio The following table contains information on sovereign risk, i.e. bonds issued by central and local governments and governmental entities, as well as any loans to them, entirely consisting of Italian government bonds. Table 11-bis - Exposure in sovereign debt securities It should be noted that there are no investments in the proprietary portfolio in financial instruments of issuers based in Russia, Belarus and Ukraine, or in financial instruments with the rouble as the issuing currency. The net interbank position was a credit position of about Euro 0.1 billion, compared to a credit balance of roughly 0.5 billion at the end of the previous year. Amount s in Euro thousands30.09.2025 Incidence % 31.12.2024 Incidence % Value %Securities portfolio and derivatives (FVTPL)239,2475.3%211,4804.9%27,76713.1%Debt securities 9,5323,125Equity securities5,5164,953Mutual funds and SICAV196,678188,740Trading and hedging deriv ativ es27,52114,662Banking book (FVOCI)1,187,17926.1%1,000,06123.3%187,11818.7%Debt securities 1,173,637986,854Equity securities13,54213,207Financial assets at amortised cost (AC)3,113,58668.6%3,077,95571.8%35,6311.2%Debt securities (* )3,113,5863,077,955Financial assets 4,540,012 100.0% 4,289,496 100.0% 250,516 5.8%of which Securities Portfolio4,512,49199.4%4,274,83499.7%237,6575.6%(*) Includes senior securities from the sale of own non-performing loans Changes Am ounts in Euro thousandsNominal valueCarrying amountup to 1 year490,000 - - - - 490,000 495,597 1 to 3 years280,000 - - 2,555 5,000 287,555 292,207 3 to 5 years226,000 - - - 5,000 231,000 230,897 over 5 years125,000 - 20,000 - - 145,000 132,342 Total1,121,000- 20,000 2,555 10,000 1,153,5551,151,043up to 1 year 475,000 - 90,500 - - 565,500 565,6281 to 3 years 399,790 - - - - 399,790 400,3763 to 5 years 265,000 20,000 10,000 - - 295,000 298,547over 5 years 841,000 45,000 30,000 - - 916,000 919,516Total1,980,79065,000 130,500 - - 2,176,2902,184,067up to 1 year 965,000 - 90,500 - - 1,055,500 1,061,2251 to 3 years 679,790 - - 2,555 5,000 687,345 692,5833 to 5 years 491,000 20,000 10,000 - 5,000 526,000 529,444over 5 years 966,000 45,000 50,000 - - 1,061,000 1,051,858Total 3,101,790 65,000 150,500 2,555 10,000 3,329,845 3,335,110France USA Romania30.09.2025Financial assets measured at fair value through other comprehensive incomeFinancial assets measured at amortised costSovereign debt securitiesSpainItaly
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Consolidated Quarterly Financial Report as at 30 September 2025 | Page 12 Capital and supervisory ratios Equity attributable to the Parent Company Banco Desio at 30 September 2025, including the result for the period, amounted to Euro 1,481.0 million, compared to Euro 1,448.9 million in 2024. The positive change of Euro 32.1 million is attributable to the positive overall profitability trend for the period of Euro 107.4 million, partially offset by the payment of the dividend for the financial year 2024 and the repurchase of treasury shares. Capital requirements and related ratios at 30 September 2025 are determined in application of the new prudential framework set forth in Regulation (EU) No. 1623/2024 (the so-called CRR3 Regulation), which came into force on 1 January 2025, and determining the capital requirements for credit risk with the application of the A-IRB models (as per the communication of 25 June 2025 with which Banco Desio informed the market that the Bank of Italy had authorised the Group to use the internal system for measuring A-IRB credit risk - "retail" and "corporate" exposures - starting from the supervisory reports of 30 June 2025). Banco Desio applies the prudential filter on the gains/losses on government securities classified in the IFRS 9 portfolio of Financial assets measured at fair value through other comprehensive income (Article 468 of the CRR), as communicated to the Bank of Italy on 20 September 2024. The calculation of the consolidated Own Funds and prudential requirements that are subject to submission to the Bank of Italy as part of the Prudential Supervisory Reporting (COREP) and Statistical Reporting (FINREP) is performed with reference to Brianza Unione di Luigi Gavazzi e Stefano Lado S.A., which, according to European regulations, is the financial parent company of the banking group. This section therefore sets out the results of this calculation, relating to the prudential consolidation perimeter of the company Brianza Unione di Luigi Gavazzi e Stefano Lado S.A.p.A. (the financial parent company). On 31 January 2025, Banco Desio disclosed the capital decision taken by the Bank of Italy at the conclusion of the periodic prudential review Process ("SREP"), keeping the capital requirements for the "CRR" Brianza Unione Group at consolidated level unchanged from 2024, as shown below: CET 1 ratio of 7.60%, comprising a binding measure of 5.10% (of which 4.50% against the minimum regulatory requirements and 0.60% against the additional requirements determined as a result of the SREP) and the remainder from the capital conservation buffer component; Tier 1 ratio of 9.30%, comprising a binding measure of 6.80% (of which 6.00% against the minimum regulatory requirements and 0.80% against the additional requirements determined as a result of the SREP) and the remainder from the capital conservation buffer component; Total Capital ratio of 11.50%, comprising a binding measure of 9.00% (of which 8.00% against the minimum regulatory requirements and 1.00% against the additional requirements determined as a result of the SREP) and the remainder from the capital conservation buffer component. The Group is also required to comply with the systemic risk buffer ratio (SyRB) set at 30 September 2025 at 1% of credit and counterparty risk-weighted exposures to residents of Italy; this additional CET1 requirement with respect to the total RWAs is equal to 0.76%. Brianza Unione CRR Group Consolidated own funds calculated on the financial parent company Brianza Unione amounted to Euro 1,205.1 million at 30 September 2025 (CET1 + AT1 at Euro 1,065.5 million + T2 at Euro 139.6 million) compared to Euro 1,196.4 million at the end of the previous year. The Common Equity Tier 1 capital ratio, consisting of CET1 capital as a ratio of risk-weighted assets, was 13.7% (12.6% at 31 December 2024). The Tier 1 ratio, consisting of total Tier 1 (T1) capital to risk-weighted assets, was 14.5% (13.3% at 31 December 2024), while the Total Capital ratio, consisting of total Own funds to risk-weighted assets, was 16.4% (15.1% at 31 December 2024). Banco Desio Group Consolidated Own Funds calculated on the other hand for the Banco Desio Group, after pay out forecasts, as per dividend policy, amounted to Euro 1,466.2 million at 30 September 2025, (CET1 + AT1 to Euro 1,390.1 million + T2 to Euro 76.1 million), compared to Euro 1,413.9 million at the end of the previous year. The Common Equity Tier 1 capital ratio, consisting of CET1 capital as a ratio of risk-weighted assets, was 18.9% (17.1% at 31 December 2024). Also Tier1, consisting of total Tier 1 (T1) capital to risk-weighted assets, was 18.9% (17.1% at 31 December 2024), while the Total capital ratio, consisting of total Own funds to risk-weighted assets, was 19.9% (17.8% at 31 December 2024).
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Consolidated Quarterly Financial Report as at 30 September 2025 | Page 13 Performance of consolidated companies Performance of the parent company Banco di Desio e della Brianza S.p.A. The profit for the period amounted to Euro 110.5 million, down compared to the result of the previous period of 6.9%. The core revenue items from operations decreased by approximately Euro 19.7 million (-4.4%) compared to the comparison period, amounting to Euro 431.0 million. The performance is attributable to the decrease in net interest income of euro 31.5 million (-11.8%), which was affected by market rate dynamics, and in net commissions of Euro 7.2 million (+4.3%), partially offset by the growth in the net result of financial assets and liabilities of Euro 3.6 million (+23.3%) and in other operating income and expenses of Euro 0.9 million (+37.8%). Finally, dividends amounted to Euro 1.0 million, up 21.7% compared to the figure for the comparison period (Euro 0.8 million). Overall operating expenses, which include personnel expenses, other administrative expenses, and net value adjustments on tangible and intangible assets, amounted to about Euro 250.7 million (Euro 238.5 million in the comparison period), reflecting an increase of Euro 8.1 million (+5.0%) in personnel expenses, Euro 3.3 million (+4.7%) in other administrative expenses, and Euro 0.8 million (+8.7%) in net value adjustments on tangible and intangible assets. The development of the aggregate expresses the contribution of the branches BU acquired on 7 December 2024, as well as the effect of the renewal of the employment contract. Credit costs amounted to Euro 18.5 million compared to Euro 19.0 million in the comparison period; net provisions for risks and charges were positive by Euro 0.4 million (negative by Euro 13.5 million in the comparison period, which also reflected the transparency risk assessment); Charges relating to the banking system were zero, compared to approximately Euro 6.9 million in the comparison period in relation to the Deposit Guarantee Scheme (DGS), which in 2024 reached the target level collected through ordinary contributions; Income taxes on current operations amounted to Euro 54.5 million (Euro 58.5 million in the comparison period). The total value of loans to customers as at 30 September 2025 amounted to about Euro 12.1 billion, (+5.4% compared to the balance at the end of 2024), referring mainly to loans to ordinary customers (+1.2% compared to the balance for the comparison period). Equity at 30 September 2025, including the profit for the period, amounted to Euro 1,479.0 million, compared to Euro 1,441.8 million in 2024. The positive change of Euro 37.2 million is attributable to the positive overall profitability trend for the period of Euro 112.0 million, partially offset by the payment of the dividend for the financial year 2024 and the purchase of treasury shares. The capital calculated according to the supervisory regulations, defined as Own Funds, after the payout forecasts, as per the dividend policy, amounted to Euro 1,478.4 million at 30 September 2025, (CET1 + AT1 to Euro 1,402.3 million + T2 to Euro 76.1 million), compared to Euro 1,420.1 million at the end of the previous year. The Common Equity Tier 1 capital ratio, consisting of CET1 capital as a ratio of risk-weighted assets, was 21.3% (18.8% at 31 December 2024). Also Tier1, consisting of total Tier 1 (T1) capital to risk-weighted assets, was 21.3% (18.8% at 31 December 2024), while the Total capital ratio, consisting of total Own funds to risk-weighted assets, was 22.4% (19.6% at 31 December 2024). Performance of the subsidiary Fides S.p.A. At the reporting date, the parent company Banco di Desio e della Brianza S.p.A. wholly owned the company. Current profit after taxes amounted to approximately Euro 6.3 million, in line with the profit of the comparison period (+0.45%); operating income amounts to Euro 21.5 million compared to Euro 20.0 million in the comparison period, operating expenses to Euro 9.8 million (compared to Euro 8.8 million in the comparison period), and the result from operations to Euro 11.7 million (compared to Euro 11.2 million in the comparison period). The Cost of credit, amounting to around Euro 2.1 million (compared to Euro 1.2 million in the comparison period), Net provisions for risks and charges amounting to Euro 0.1 million (compared to Euro 0.6 million in the comparison period), and taxes of Euro 3.2 million (compared to Euro 3.1 million in the comparison period) led to the result for the period. Loans to customers increased from Euro 1,416.3 million at the end of 2024 to Euro 1,572.1 million at the reporting date, with a positive change of Euro 155.8 million (+11.0%). Equity at 30 September 2025 including the result for the period amounted to Euro 64.5 million, compared to Euro 60.6 million in 2024 (due to the allocation of the result at 31 December 2024, and the trend in overall profitability for the period). Regulatory Own funds went from Euro 57.5 million at the end of 2024 to Euro 61.8 million.
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Consolidated Quarterly Financial Report as at 30 September 2025 | Page 14 Performance of the subsidiary Dynamica Retail S.p.A. At the reporting date, the parent company Banco di Desio e della Brianza S.p.A. wholly owned the company. As of 30 September 2025, the Current result after taxes was positive by approximately Euro 1.7 million, up from the negative result of Euro 2.3 million in the comparison period; the result from operations was positive by Euro 7.1 million, the Cost of credit and net provisions were negative by approximately Euro 4.5 million, and taxes were negative by Euro 0.9 million. Loans to customers amounted to Euro 66.2 million at the reporting date. Equity at 30 September 2025, including the result for the period, totalled Euro 10.1 million. Regulatory own funds at 30 September 2025 amounted to Euro 5.0 million.
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Consolidated Quarterly Financial Report as at 30 September 2025 | Page 15 Context of reference Inaugural issue of a senior bond dedicated to institutional investors under the EMTN programme On 7 October 2025, Banco Desio announced that it had successfully completed the placement of its inaugural issue of a Senior Preferred Bond with a maturity of 5 years and 3 months (January 2031 and first call date in January 2030) for a total amount of Euro 300 million. The issue was reserved solely for institutional investors and was carried out under the Euro Medium-Term Note programme for Euro 3 billion listed on the Dublin Stock Exchange. It is expected to have ratings of BBB- from S&P Global Ratings and Fitch Ratings, consistent with the ratings the issuer received in the course of 2025 from the same Agencies. The transaction attracted considerable market interest. Following the strong response received, the annual coupon was set at 3.25%. The success of the issue once again confirms investors' appreciation and Banco Desio's ability to diversify its funding sources. The bond placement, with 43% occurring outside of Italy, demonstrates the established appreciation for Banco di Desio internationally. Determination of the Minimum requirement for own funds and eligible liabilities (MREL) On 23 September 2025, Banco Desio announced that it had received notification from the Bank of Italy of its decision on the Minimum Requirement for own funds and Eligible Liabilities (MREL). Banco Desio, on a consolidated basis, will have to comply with the following requirements: MREL in terms of TREA (Total Risk Exposure Amount) of 17.81%, excluding the CBR Combined Buffer Requirement (previously 17.76%); MREL in terms of LRE (Leverage Ratio Exposure) of 5.34% (previously 5.33%). With regard to the date from which the MREL requirement will be binding, the Supervisory Authority confirmed the transitional period until 1 January 2027. No additional subordination requirements were attached. Financial rating As at 30 September 2025, the Ratings assigned to the Banco Desio Group were as follows: Individual rating Outlook Short-term debt Medium and long- term debt Last updated Standard & Poor's BBB- Stable A-3 BBB- 5-03-2025 Fitch Ratings BBB- Stable F3 BBB- 15-05-2025 Sustainability Rating The specialised agency S&P has announced the update of the 'S&P Global ESG Score' sustainability rating assigned to Banco Desio, which has increased to 47/100 points (from the previous score of 44/100). Banco Desio's good positioning in the reference sector is therefore consolidated, as shown on its institutional website (bancodesio.it/it/esg-e-sostenibilita/obiettivi/le-nostre-ambizioni), where the ratings/scores assigned by the most reputable sustainability rating agencies are reported. Distribution network The distribution structure at the reporting date consisted of 276 branches (281 branches at the end of the previous financial year) and 48 financial shops opened under the banner of subsidiary Fides and 20 financial shops opened under the banner of subsidiary Dynamica (50 and 21 financial shops at the end of the previous financial year, respectively). The Group's workforce amounted to 2,516 employees, a decrease of 19 over the previous year-end figure.
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Consolidated Quarterly Financial Report as at 30 September 2025 | Page 16 Outlook Macroeconomic Scenario During the first half of the year, global economic activity showed an overall moderate growth picture. In the United States, growth volatility in previous quarters was largely driven by fluctuations in tariffs introduced by the Trump administration, but the slowdown is taking place against a backdrop of a less dynamic labour market and inflation still above the Federal Reserve System (Fed) target. In China, growth remained above 5%, supported by stimulus measures and resilient domestic demand, although with signs of a slowdown compared to 2024. Conversely, in the Eurozone, expansion remained fragile, with consumption and investments continuing to be weak. Overall, the global economy continues to be affected by geopolitical uncertainty, still high US interest rates and decelerating world trade, all of which are keeping growth below historical averages. However, the gradual reduction in interest rates has mitigated the risks of a more pronounced economic slowdown than anticipated. At the moment, after the rate cuts in June 2025 (by the ECB) and in September 2025 (by the Federal Reserve System), the Central Banks are maintaining a cautious approach regarding the future path, as inflation continues to fall slowly. Alongside monetary policies, other factors of uncertainty are affecting the international macroeconomic context: on one hand, the war scenario, combining the Russian- Ukrainian conflict with the war in the Middle East; on the other hand, the political landscape with policymakers facing the outcomes of the trade measures implemented by the United States and President Trump's ever more vocal criticisms of the Federal Reserve System and its monetary policy actions. Political challenges at the European level are also a factor of uncertainty for the Eurozone economy, mainly due to the complexity of the political frameworks in France and Germany, each affected by budget balance adjustment initiatives and the populist drift that has negatively impacted business confidence, respectively. Italy is marked by a relative political stability, supported by a united parliamentary majority. This institutional calm, combined with a prudent public finances policy, has favoured the placement of government bonds with spreads vs. the Bund falling, but has not translated into stronger economic growth: growth remains subdued, hampered by weak domestic consumption, investments still affected by uncertainty, and despite the support provided by the PNRR (National Recovery and Resilience Plan) funds. Fiscal policy room is limited by stagnant productivity and high public debt. With regard to the banking market, the annual trend in deposits from resident customers was positive and with yoy growth (+2.5%). Within this, both deposits (+2.7%, formerly +2.0% in December 2024) and bonds (+1% formerly +7% in December 2024) showed positive contributions. On the other hand, the cost of the overall remuneration of funding decreased significantly (1.87% compared to 2.68% in December 2024), due to interest rate adjustments and the consequent impact on the parametrised items of interest-bearing liabilities. With regard to lending, loans to the private sector showed a positive and recovering annual trend (+1.6% from -0.3% in December 2024), owing to the declining cost of borrowing: the sector benefited from the recovery in lending across households (+2.0%) and businesses (+0.7%). The performance of both segments depended jointly on the fall in interest rates despite the slowdown in tax breaks introduced in the real estate market. The dynamics of credit to the productive sector continues to be influenced by the trend of investments and the economic cycle, which is conditioned by the inflationary dynamics and the cost of energy. Rates on the stock of loans to households and companies decreased (3.92%, formerly 4.44% in December 2024).
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Consolidated Quarterly Financial Report as at 30 September 2025 | Page 17 Drafting Criteria This "Consolidated Quarterly Financial Report as at 30 September 2025" is prepared on a voluntary basis, in order to ensure continuity with previous quarterly periodic reports, as the obligation of periodic financial reporting in addition to annual and half-yearly reports has ceased to apply due to the wording of Article 154-ter, paragraph 5, of Legislative Decree No. 58/1998 ("Consolidated Law on Finance" or "TUF") introduced by Legislative Decree No. 25/2016 implementing Directive 2013/50/EU. With regard to the recognition and measurement criteria, the Report is prepared in accordance with the IAS/IFRS issued by the International Accounting Standards Board (IASB) and the related interpretations of the IFRS Interpretations Committee (IFRIC) in force at the reporting date, as declined in the "Basis of Preparation and Accounting Principles" section of the Notes to the Consolidated Financial Statements as at 31 December 2024. In terms of financial disclosure, since it was prepared pursuant to the aforementioned Article 154-ter, paragraph 5, of the Consolidated Law on Finance as well as for the purposes of determining regulatory capital (own funds), the Report does not include certain explanatory notes that would be required to represent the financial position and results of operations for the period in accordance with IAS 34 Interim Financial Reporting. Main factors of uncertainty Among the main factors of uncertainty that could affect the future scenarios in which the Banco Desio Group will operate, the negative effects on the global and Italian economies - directly or indirectly connected to the continuation of geopolitical crises and war conflicts (particularly in Europe and the Middle East), geopolitical tensions, still high US interest rates and slowing world trade, and, last but not least, the trend in inflation, which remains a significant variable due to the effects it is having on monetary policy decisions - should not be underestimated. In section "Risks and uncertainties in the current macroeconomic and geopolitical context" contained in the Consolidated Half-Year Financial Report at 30 June 2025, to which reference is made, an illustration was provided of the sustainability risk assessment activity and therefore of the estimation processes which, more generally, require the use of significant elements of judgment in the selection of underlying hypotheses and assumptions and the consequent application solutions adopted by the Group, aligning them with the evolution of the context encountered from time to time, aware of its role in providing the necessary support to its stakeholders, people and businesses, in the current context characterised by significant factors of uncertainty and volatility. *** The financial statements in this Report are subject to a limited audit by KPMG S.p.A. for the inclusion of the interim result in own funds. The information content of this Report is consistent with the quarterly reports (or interim reports on operations) previously prepared, however, reflecting what is defined in the "Group Policy for Additional Periodic Financial Reporting".
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Consolidated Quarterly Financial Report as at 30 September 2025 | Page 18 Declaration of the Financial Reporting Manager The Financial Reporting Manager, Mauro Walter Colombo, declares, pursuant to paragraph 2 of article 154-bis of the Consolidated Law on Finance, that the accounting information contained in this press release corresponds to the documented results, books and accounting records. Desio, 6 November 2025 BANCO DI DESIO E DELLA BRIANZA S.p.A. The Financial Reporting Manager Mauro Walter Colombo *** The consolidated financial statements as at 30 September 2025 are attached, which are integral part of the Consolidated Quarterly Financial Report as at 30 September 2025. The auditing company KPMG S.p.A. is currently completing the limited audit activity for the purpose of issuing the relevant report required for the inclusion of the profit for the period in own funds. Desio, 6 November 2025 BANCO DI DESIO E DELLA BRIANZA S.p.A. The Chair Stefano Lado *** BANCO DI DESIO E DELLA BRIANZA S.P.A. Established in 1909 and listed on the Milan Stock Exchange since 1995, Banco Desio is today a modern, future-oriented multi-product banking group respecting its tradition, with deep territorial roots and an organisational structure focused on offering quality services to its customers, also through digital channels. The Banco Desio Group operates in Northern and Central Italy and in Sardinia with a distribution network of 276 branches and more than 2,500 employees, and is present in the consumer credit sector with the company Fides S.p.A. and Dynamica Retail S.p.A., financial companies specialised in loans against salary assignment. In the asset management and "bancassurance" sector, it operates through distribution agreements with leading national and international counterparties. It achieved total assets of more than Euro 18 billion. Investor Relator Giorgio Besana Mobile +39 331.6754649 giorgio.besana@bancodesio.it Corporate Affairs Area Tel. 0362.613.214 segreteriageneralesocietaria@bancodesio.it Communication Area Monica Monguzzi Mobile +39 366.6801681 m.monguzzi@bancodesio.it Press Office Close to Media Alberto Selvatico Mobile +39 334 686 7480 alberto.selvatico@closetomedia.it Enrico Bandini Mobile +39 335.8484706 enrico.bandini@closetomedia.it Eleonora Nespoli Mobile +39 331.6882360 eleonora.nespoli@closetomedia.it
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Consolidated Quarterly Financial Report as at 30 September 2025 | Page 19 Annex Table A1 - Consolidated Balance Sheet %10. Cash and cash equiv alents 456,664 1,019,658 (562,994) -55.2%20. Financial assets measured at fair v alue through profit or loss 213,797 198,902 14,895 7.5%a) Financial assets held for trading 11,577 9,213 2,364 25.7%c) Other financial assets mandatorily measured at fair v alue 202,220 189,689 12,531 6.6%30. Financial assets measured at fair v alue through other comprehensiv e income 1,187,179 1,000,061 187,118 18.7%40. Financial assets measured at amortised cost 15,991,125 15,468,174 522,951 3.4%a) Loans with banks 979,199 955,533 23,666 2.5%b) Loans to customers 15,011,926 14,512,641 499,285 3.4%50. Hedging deriv ativ es 25,450 12,578 12,872 102.3%60. Value adjustment of financial assets with macro hedges (+/-) (15,902) 1,661 (17,563) n.s.70. Equity inv estments 5,063 5,134 (71) -1.4%90. Tangible assets 224,990 230,253 (5,263) -2.3%100. Intangible assets 43,259 44,053 (794) -1.8%of which:- goodwill 15,322 15,322 110. Tax assets 87,990 105,062 (17,072) -16.2%a) current 663 13,679 (13,016) -95.2%b) deferred 87,327 91,383 (4,056) -4.4%130. Other assets 423,583 549,960 (126,377) -23.0%18,643,198 18,635,496 7,702 0.0%Asset item s 30.09.202531.12.2024RestatedAbsolute changesTotal assets%10. Financial liabilities measured at amortised cost 16,462,239 16,664,203 (201,964) -1.2%a) Payables to banks 589,164 798,673 (209,509) -26.2%b) Payables to customers 12,931,382 13,280,657 (349,275) -2.6%c) Securities issued 2,941,693 2,584,873 356,820 13.8%20. Financial liabilities held for trading 1,993 1,954 39 2.0%40. Hedging deriv ativ es 13,267 19,287 (6,020) -31.2%60. Tax liabilities 35,079 12,691 22,388 176.4%a) current 24,745 1,151 23,594 n.s.b) deferred 10,334 11,540 (1,206) -10.5%80. Other liabilities 562,339 384,969 177,370 46.1%90. Staff sev erance pay 14,259 19,646 (5,387) -27.4%100. Prov isions for risks and charges 72,969 83,289 (10,320) -12.4%a) commitments and guarantees giv en 2,905 3,531 (626) -17.7%c) other prov isions for risks and charges 70,064 79,758 (9,694) -12.2%120. Valuation Reserv es 14,128 12,633 1,495 11.8%150. Reserv es 1,294,379 1,228,157 66,222 5.4%160. Share premium 16,145 16,145 170. Share capital 70,693 70,693 180. Treasury shares (-) (20,200) (5,625) (14,575) 259.1%190. Minority interests (+/-) 4 548 (544) -99.3%200. Profit (loss) for the year (+/-) 105,904 126,906 (21,002) -16.5%18,643,198 18,635,496 7,702 0.0% Absolute changes Total liabilities and equityLiabilities and equity items 30.09.202531.12.2024Restated The balances shown in the statement of assets and liabilities of the Balance Sheet and in the related tables for the comparison period have been restated following the completion of the Purchase Price Allocation (PPA) related to the acquisition of the branches of Banca Popolare Puglia e Basilicata on 7 December 2024. As required by IFRS 3, the Group recognised the adjustments to the provisional amounts as if the accounting for the business combination had been completed at the acquisition date and therefore proceeded to amend the comparative information for the financial year 2024 (ref. explanatory note "Comparability of financial statements" in the General part of the Accounting policies of the Consolidated Half-Year Financial Report at 30 June 2025.
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Consolidated Quarterly Financial Report as at 30 September 2025 | Page 20 Table A2 - Consolidated Income Statement absolute %10. Interest and similar income420,214 492,760 (72,546) -14.7%of which: interest income calculated using the effectiv e interest rate method 336,529 341,712 (5,183) -1.5%20. Interest and similar expense(158,133) (202,085) 43,952 -21.7%30. Net interest income262,081 290,675 (28,594) -9.8%40. Commission income180,792 159,176 21,616 13.6%50. Commission expenses(11,570) (11,529) (41) 0.4%60. Net commissions169,222 147,647 21,575 14.6%70. Div idends and similar income 650 677 (27) -4.0%80. Net trading result 3,697 2,573 1,124 43.7%90. Net hedging result (173) 120 (293) n.s.100. Gains (losses) on sale or repurchase of: 11,782 8,201 3,581 43.7%a) financial assets measured at amortised cost 7,169 5,364 1,805 33.7%b) financial assets measured at fair v alue through other comprehensiv e income 4,569 2,760 1,809 65.5%c) financial liabilities 44 77 (33) -42.9%110.Net result of other financial assets and liabilities measured at fair v alue through profit or loss1,281 (5,209) 6,490 n.s.b) other financial assets mandatorily measured at fair v alue 1,281 (5,209) 6,490 n.s.120. Net banking income448,540 444,684 3,856 0.9%130. Net v alue adjustments/rev ersals for credit risk related to:(20,554) (13,064) (7,490) 57.3%a) financial assets measured at amortised cost(20,634) (13,148) (7,486) 56.9%b) financial assets measured at fair v alue through other comprehensiv e income80 84 (4) -4.8%140. Gains/losses from contractual amendments without derecognition(125) 22 (147) n.s.150. Net result from financial operations427,861 431,642 (3,781) -0.9%180. Net result from financial and insurance operations427,861 431,642 (3,781) -0.9%190. Administrativ e expenses:(277,839) (269,657) (8,182) 3.0%a) personnel expenses(175,311) (165,194) (10,117) 6.1%b) other administrativ e expenses(102,528) (104,463) 1,935 -1.9%200. Net allocations to prov isions for risks and charges(825) (2,734) 1,909 -69.8%a) commitments for guarantees giv en474 889 (415) -46.7%b) other net allocations(1,299) (3,623) 2,324 -64.1%210. Net v alue adjustments/rev ersals on tangible assets(14,606) (14,083) (523) 3.7%220. Net v alue adjustments/rev ersals on intangible assets(4,029) (3,278) (751) 22.9%230. Other operating expenses/income33,498 30,405 3,093 10.2%240. Operating costs(263,801) (259,347) (4,454) 1.7%250. Gains (Losses) on inv estments356 342 14 4.1%280. Gains (Losses) on disposal of inv estments19 - 19 n.s.290. Profit (Loss) from current operations before taxes 164,435 172,637 (8,202) -4.8%300. Income taxes for the year on current operations (58,531) (59,923) 1,392 -2.3%310. Profit (Loss) from current operations after taxes 105,904 112,714 (6,810) -6.0%320. Profit (Loss) from discontinued operations after taxes - 2,959 (2,959) -100.0%330. Profit (Loss) for the year 105,904 115,673 (9,769) -8.4%340. Profit (Loss) for the year attributable to minority interests - (722) 722 -100.0%350. Profit (Loss) for the year attributable to the parent company 105,904 116,395 (10,491) -9.0% Items 30.09.2025 30.09.2024Changes
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Consolidated Quarterly Financial Report as at 30 September 2025 | Page 21 Table A3 - Consolidated Statement of Comprehensive Income Items 30.09.2025 30.09.202410. Profit (Loss) for the year 105,904 115,673 Other income components net of taxes without reversal to the income statement20. Equity securities measured at fair v alue through other comprehensiv e income 171 - 70. Defined benefit plans (5) (197) Other income components net of taxes with reversal to the income statement130. Cash flow hedges - - 150. Financial assets (other than equity securities) measured at fair v alue through other comprehensiv e income 1,338 9,893 200. Total other income components net of taxes 1,504 9,696 210. Comprehensive income (Item 10+200) 107,408 125,369 220. Consolidated comprehensiv e income attributable to minority interests - 725 230. Consolidated comprehensive income attributable to the parent company107,408 126,094
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Consolidated Quarterly Financial Report as at 30 September 2025 | Page 22 Table A4 - Statement of Changes in Consolidated Shareholders' Equity 1 January - 30 September 2025 The balances shown in the "Change in opening balances" column include the effects deriving from the completion of the Purchase Price Allocation (PPA) connected to the acquisition of the branches BU of Banca Popolare Puglia e Basilicata completed on 7 December 2024. As required by IFRS 3, Banco Desio recognised the adjustments to the provisional amounts as if the accounting for the business combination had been completed at the acquisition date and therefore proceeded to amend the comparative information for the financial year 2024 (ref. explanatory note "Comparability of financial statements" in the General part of the Accounting policies of the Consolidated Half-Year Financial Report at 30 June 2025). Capital: a) ordinary shares 70,693 70,693 70,693 b) other sharesShare premiums 16,145 16,145 16,145Reserv es: a) of profits 1,210,692 1,210,692 65,325 1,276,017 b) other 18,709 18,709 670 (469) (544) 18,362 4Valuation reserv es: 12,624 12,624 1,504 14,128Equity instrumentsTreasury shares (5,625) (5,625) (14,575) (20,200)Profit (Loss) for the year 124,856 1,363 126,219 (65,995) (60,224) 105,904 105,904Group equity 1,447,546 1,363 1,448,909 (60,224) (469) (14,575) 107,408 1,481,049Minority interests 548 548 (544) 4- Minority interestsat 30.09.2025 Balance at 31.12.2024 Changes in opening balances Balance at 01.01.2025 Allocation of prev ious year result Reserves Dividends and other allocations Changes in reserves Equity transactions Comprehensive income 30.09.2025 Changes in the year Changes in equity instruments Derivatives on treasury shares Stock options Changes in equity interests Issue of new shares Purchase of treasury shares Extraordinary distribution of dividends Group equityat 30.09.2025
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Consolidated Quarterly Financial Report as at 30 September 2025 | Page 23 Table A5 - Statement of Changes in Consolidated Shareholders' Equity 1 January - 30 September 2024 The allocation of the previous year's result to reserves in the amount of Euro 202,653 thousand includes the allocation of Euro 46,700 thousand to the restricted reserve pursuant to Article 26 of Decree Law No. 104 of 10 August 2023 in lieu of the payment of the extraordinary tax (so-called "extra-profits tax") approved by the Ordinary Meeting of 18 April 2024. Capital: a) ordinary shares 70,693 70,693 70,693 b) other sharesShare premiums 16,145 16,145 16,145Reserv es: a) of profits 1,008,099 1,008,099 202,653 1,210,752 b) other 15,553 15,553 2,317 (71) 760 17,468 1,091Valuation reserv es: 3,178 3,178 9,696 12,877 (3)Equity instrumentsTreasury shares (2,054) (2,054)Profit (Loss) for the year 240,361 240,361 (204,970) (35,391) 115,673 116,395 (722)Group equity 1,354,015 1,354,015 (35,391) (61) (2,054) (327) 126,094 1,442,276Minority interests 14 14 (10) 1,087 (725) 366- Minority interestsat 30.09.2024 Balance at 31.12.2023 Changes in opening balances Balance at 01.01.2024 Allocation of prev ious year result Reserves Dividends and other allocations Changes in reserves Equity transactions Comprehensive income 30.09.2024 Changes in the year Changes in equity instruments Derivatives on treasury shares Stock options Changes in equity interests Issue of new shares Purchase of treasury shares Extraordinary distribution of dividends Group equityat 30.09.2024
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Consolidated Quarterly Financial Report as at 30 September 2025 | Page 24 Table A6 - Reconciliation between the Parent Company's individual net income and shareholders' equity and the Banco Desio Group's consolidated net income and shareholders' equity Table A7 - Reconciliation between the profit resulting from the consolidated income statement of the Banco Desio Group and relevant for the calculation of regulatory capital of the Banco Desio Group 1 Capital requirements and related ratios are determined in application of the new prudential framework set forth in Regulation (EU) No. 1623/2024 (the so- called CRR3 Regulation), which came into force on 1 January 2025, and determining the capital requirements for credit risk with the application of the A- IRB models. 2 Annualised value calculated as the ratio of normalised net adjustments to loans for the period ("Cost of credit" in the Reclassified Income Statement) to total cash exposures to customers net of value adjustments. 3 With reference to recurring items only. 4 Including inflows repurchase agreements with institutional customers in the amount of Euro 744 million (Euro 1.2 billion at 31 December 2024). 5 The values shown are grossed up by the amount related to the lower fair value of the acquired impaired loans from the "Lanternina" branch BU. 6 At the conclusion of the periodic prudential review process ("SREP"), published in January 2025, the capital requirements for the Brianza Unione 'CRR' Group at the consolidated level are unchanged as shown below: CET1 ratio of 7.60%, binding - pursuant to art. 67-ter TUB - to the extent of 5.10% (of which 4.50% for minimum regulatory requirements and 0.60% for additional requirements) and the remainder by the capital conservation buffer component, Tier1 ratio of 9.30%, binding to the extent of 6.80% (of which 6.00% for minimum regulatory requirements and 0.80% for additional requirements) and the remainder by the capital conservation buffer component and Total Capital ratio of 11.50%, binding at 9.00% (of which 8.00% against minimum regulatory requirements and 1.00% against additional requirements) and the remainder from the capital conservation buffer component. The Group is also required to comply with the systemic risk buffer ratio (SyRB) set at 30 September 2025 at 1% of credit and counterparty risk-weighted exposures to residents of Italy; this additional CET1 requirement with respect to the determined RWAs is equal to 0.76%. 7 Banco Desio applies the prudential filter on the gains/losses on government securities classified in the IFRS 9 portfolio of Financial assets measured at fair value through other comprehensive income (Article 468 of the CRR). 8 The consolidated ratios at the level of Brianza Unione di Luigi Gavazzi e Stefano Lado S.A.p.A., the parent company of 51.52% of Banco di Desio e della Brianza S.p.A., outstanding at the reporting date were calculated in accordance with the provisions of articles 11(2) and (3) and 13(2) of the CRR Regulation. 9 the values shown are grossed up by the amount related to the lower fair value of the acquired impaired loans from the "Lanternina" perimeter. Amounts in Euro thousandsEquityof which Profit for the periodBalances of the Parent Company Banco Desio1,479,025 110,495Effect of the consolidation of subsidiaries1,825 -2,227Effect of equity v aluation of associates199 356Div idends for the period - -2,720Consolidated balances of the Banco Desio Group 1,481,049 105,904Amounts in Euro thousandsAmountAttributable to the Group 105,904 Elements deducted 55,247 55,247 Profit counted in common equity tier 1 capital 50,657 - dividends in proposed recognition to the Bank's Shareholders