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bff.com FY 2025 Results 10th February 2026 Sun 246 195 69 Ash 224 231 235 Main Colors Sapphire 0 92 158 Apricot 227 119 67 Secondary Colors Basalt 70 82 89 Stone 104 132 148 Green 172 205 112 Sea green 0 140 143 Petrol 0 91 98 Azure 61 172 225 Brick 200 72 47
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bff.com Solid results and de-risked business ahead of new Strategic Plan Presentation of the new Strategic Plan in 2H26. Adjusted Net Profit up year-on-year. Capital generation confirmed. Strong balance sheet, a more conservative approach and continued growth. Decisive de-risking actions ahead of potential securitization. 2
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bff.com Adjusted ROE Adjusted Net Income F&L Volumes Transaction Services Deposits Past Due L/D ratio CET1 c. 23%(1) €152m, +6% YoY €8.9bn,+5% YoY €6.6bn,+15% YoY 75% -7% YoY, €188m cure period 14.1%, c. 300bps capital generation(2) 2025 key financial metrics 3 NEW Secondary Colors 1. 214 213 209 2. 3 62 132 3. 84 105 175 4. 194 213 213 (1) Adj. Net Income / CET1. (2) Pre-one-offs related to provisions on negative court rulings and LPIs longer estimated collection days .
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bff.com 4 (1) FY25: Adj. Net Income up 6% YoY, with both F&L and Transaction Services contributing to growth • Net Revenues up 1%, with improving margins. • Opex incl. D&A up 2%, as the Bank continues investments to support long-term value creation. • F&L PBT up 1% despite rescheduling. • Transaction Services (Payments and Securities Services) PBT at €50m, up 6%. • Adj. Net Income up 6%. (1) Includes Gains (Losses) on equity investments. (2) Includes gains / losses on derivatives used to manage the hedging of currencies and interest rates exposure. (3) FY25 Group cost of funding: 2.55%, including EUR -PLN FX swaps of €16.8m from management accounts. (4) Revenues F&L and Net Income do not include the restatement impact quantified in the reported figures equal to c. +€5.3m and c. +€3.7m, respectively. Please see press release published on 2 -Feb-26. ADJUSTED P&L (€m) FY 2024 FY 2025 % YoY Revenues F&L 436.1 390.7 -10% Revenues Payments 67.2 69.6 4% Revenues Securities Services 24.7 27.4 11% Corporate Center Revenues 263.0 190.9 -27% of which HTC Bond portfolio 192.3 129.5 -33% Total Revenues 790.9 678.7 -14% Cost of funding (391.0) (273.3) -30% Total Net Revenues 399.8 405.3 1% OPEX incl. D&A (190.7) (194.8) 2% Cost / Income (%) 48% 48% Provisions (9.3) (5.8) -37% PBT 199.9 204.7 2% of which F&L 150.0 151.2 1% of which Transaction Services 47.0 49.8 6% of which Corporate Center 2.9 3.6 28% Net Income 143.0 151.7 6% (2)(3) (4) (4)
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bff.com • Net Revenues up 1% thanks to improved Gross Yield spread vs. ECB MRO rate despite rescheduling. • Off-balance sheet funds at €605m, +€76m, +14%, faster than loan book growth. • Improved Gross Yield spread vs. ECB MRO rate. 5 (1) Average Loans do not include accrued Recovery fees. (2) Recovery Fees equal to €16.0m. (3) Following FY24 Restatement , FY24 Gross Yield on average loans would not change; FY24 Gross Interest Income does not include the restatement impact quantified in the reported figures equal to c. +€5.3m. Please see press release published on 2 -Feb-26. (1) F&L: Net Revenues up YoY with improved spread vs. ECB rate (€m) FY24 FY25 % YoY Total funds 1,262 1,394 10% Total Off-BS funds 529 605 14% (€m) FY24 FY25 % YoY Gross Interest Income 408.7 369.5 -10% of which Net LPIs over-recovery 4.4 (0.8) LPIs over-recovery 25.2 29.1 Rescheduling (20.8) (29.9) Other Income (Expenses) 27.3 21.2 -22% Revenues 436.1 390.7 -10% Net Revenues 207.0 209.7 1% (%) FY24 FY25 % YoY Gross Yield on average loans 7.5% 6.5% -13% 1 st Jul ECB MRO rate 4.25% 2.15% Spread vs. ECB MRO rate 3.26% 4.38% 34% (2) (3) (3)
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bff.com F&L KPIs: volumes up YoY, supported by high-potential growth markets (1) Including fiscal receivables ” Ecobonus” for €428m in FY25 (€464m in FY24), which are accounted in «Other Assets» in the Consolidated Financial Accounts, and stock of on balance-sheet “Recovery fees” rights and LPIs at €789m at the end of FY25 (€733m at the end of FY24). (2) Following FY24 Restatement, Loans & Receivables in Italy are lower by c. €19.7m. Please see press release published on 2 -Feb-26. 6 6 (1) (2) (1) FY25 loan book at €5.8bn, flat YoY, and FY25 volumes at €8.9bn, up 5% YoY: • Italy: volumes up 5% and loans down 4% YoY due to end of the year collections; • Poland: confirmed positive performance for both volumes (+39% YoY) and loans (+12% YoY); • Spain: volumes still impacted by YE24 cash injection (-15% YoY) and loans (-9% YoY) reflecting lower volumes during the year; • France: volumes up 155% and loans up 135% – strategically important market with significant growth potential. Loans & Receivables (€m) FY24 FY25 % YoY Italy 3,655 3,507 -4% Poland 983 1,105 12% Spain 492 446 -9% France 58 135 135% Portugal 229 208 -9% Slovakia 224 236 6% Greece 217 205 -5% Other Countries 2 1 -56% Total 5,859 5,844 0% Volumes (€m) FY24 FY25 % YoY Italy 4,367 4,598 5% Poland 964 1,345 39% Spain 2,224 1,900 -15% France 108 275 155% Portugal 542 482 -11% Slovakia 22 41 88% Greece 235 258 10% Other Countries 4 2 -61% Total 8,466 8,900 5%
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bff.com • Revenues up 4% at €69.6m. • PBT down 5% at €39.2m due to internal transfer pricing. • Transactions at 915m, up 1%, mainly thanks to intermediation and instant payments. Payments: good performance of deposits at +4% 7 • FY25 Deposits up 4% at €2.7bn. (m) FY24 FY25 % YoY N° of transactions 908 915 1% (€m) FY24 FY25 % YoY Revenues 67.2 69.6 4% of which Net Fees and Commissions 55.7 57.8 of which Other 11.5 11.7 PBT 41.4 39.2 -5% (€m) FY24 FY25 % YoY EoP Deposits 2,598 2,703 4%
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bff.com • Revenues up 11% thanks to increased volumes. • PBT significantly up at €10.6m. • Strong Deposits growth at €3.9bn, +23% YoY, reflecting higher AuD and clients’ asset allocation. • Depositary Bank’s AuD at €83.5bn, up 13%, and Global Custody’s AuC at €135.1bn, up 8%. Securities Services: strong growth in liquidity and higher assets 8 (€m) FY24 FY25 % YoY Depositary Bank (AuD EoP) 73,963 83,539 13% Global Custody (AuC EoP) 125,641 135,113 8% (€m) FY24 FY25 % YoY Revenues 24.7 27.4 11% of which Net Fees and Commissions 24.5 26.9 of which Other 0.2 0.5 PBT 5.6 10.6 90% (€m) FY24 FY25 % YoY EoP Deposits 3,126 3,855 23%
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bff.com Continued investments to support long-term value creation 9 • Cost/Income flat at 48%. • Opex and D&A up 2% driven by sustained investments: F&L at €52.0m, up 9%. Payments up 3%. Securities Services down 3%. Other flat at €82.0m. Group Opex and D&A (€m) 190.7 194.8 FY24 FY25 Cost / Income ratio 48% 48% Of which: Factoring & Lending (47.9) (52.0) Payments (36.2) (37.2) Securities Services (24.4) (23.6) Other (82.2) (82.0)
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bff.com Strong Balance Sheet with higher equity and ample liquidity 10 (1) Includes ECB deposits, fiscal assets, reverse Repos (€595m as of FY25 ), Investments and other assets. (2) On -line deposits in zloty equal to €362m. (3) FY24 Restated Assets side: c. -€19.7m Loans & Receivables portfolio, c. +€13.1m Fiscal assets incl. in Other Assets; FY24 Restated Liabilities and Equity side: c. +€8.6m Fiscal liabilities incl. in Other Liabilities, c. -€18.8m Reserves and c. +€3.7m Reported Net Income. Please see press release published on 2 -Feb-26. (1) • Loans at €5.8bn, flat YoY. • Transaction Services deposits growing +15%, allowing for reduction of online deposits. • Equity above €900m including effects of de-risking. • L/D ratio at 75%, reflecting ample liquidity available. (2) BALANCE SHEET (€m) FY 2024 FY 2025 % YoY Assets Loans & Receivables portfolio 5,859 5,844 0% HTC Bond portfolio 4,595 4,547 -1% Intangibles 78 67 -13% Other assets 1,614 1,833 14% Total Assets 12,145 12,291 1% Liabilities & Equity Deposits from transaction services 5,724 6,557 15% On-line deposits 2,763 1,258 -54% Repos 1,564 2,350 50% Bonds and Other liabilities 1,232 1,202 -2% Equity (inc. Tier I) 862 924 7% Total Liabilities & Equity 12,145 12,291 1% Ratio Loan / deposit ratio (%) 69% 75% Leverage ratio (%) 6.3% 6.4% Off-Balance sheet reserves 529 605 14% (3)
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bff.com • M2M of variable HTC bond portfolio at +€95m. • Negative carry on fixed rate portfolio to decrease overtime. Tailwinds from HTC Bond portfolio 3.9 3.6 3.6 1.1 1.0 1.0 5.0 4.6 4.5 FY23 FY24 FY25 (€bn) Floaters Fixed FY25 Fixed Current Yield 0.59% Residual Avg Life 22m Gross M2M: -€24.4m FY25 Floaters Current Yield 3.08% (Euribor 6M + spread +0.92%) Residual Avg Life 56m Gross M2M: +€95.3m 11 NEW Secondary Colors 1. 214 213 209 2. 3 62 132 3. 84 105 175 4. 194 213 213 11
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bff.com Strong focus on maintaining low risk profile, with cost of risk at 11.0bps and NPL ratio(1) at 0.2% (1) Excluding municipalities in conservatorship; (2) Municipalities in conservatorship are classified as NPLs in line with Ba nk of Italy provisions, despite BFF is legally entitled to receive 100% of the principal and LPIs at the end of the process ; (3) Please see the press release published on 22 -Jan-25 for further details on the ECHR ruling favourable to BFF received in Jan-25. A new ECHR ruling on three municipalities was published in May -25. 12 (bps on loans) FY24 FY25 Adj. Annualized Cost of Risk 10.2 11.0 (€m) FY24 FY25 Net NPLs 100.9 100.8 of which Italian Municipalities in conservatorship 94.8 90.0 of which Others 6.1 10.7 Net UTP 68.8 58.8 Net Past Due 1,734.5 1,605.7 Net Impaired Loans 1,904.1 1,765.3 NPL ratio excluding Italian Municipalities 0.1% 0.2% NPL Coverage ratio excluding Italian Municipalities 70% 69% (2) of which €188m in cure period • Net NPLs, mainly towards Italian municipalities in conservatorship(2), stable YoY at €100.8m and largely under ECHR, confirming Italian State liability(3). • UTPs, mainly related to Poland, down 14% YoY. • Total Net Impaired Loans would be down by over €300m incl. the effect of cure period. • Net Impaired Loans exposure almost entirely towards Public Administration (97% of Net Impaired Loans).
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bff.com Background on negative court rulings Perimeter of Italian negative court rulings, 98% of which under appeal, equal to approx. 5% of the Group loan book. Mostly related to legal claims under ordinary legal action procedure. BFF returned to use of injunctions in 2024, with faster resolution times expected. Provisions a reflection of possible lower profitability on the negative rulings portfolio mainly due to: • the differential between LPI rate and retrocession rate to clients; • longer average length for completion of claims following Italian ordinary legal actions compared to injunctions. Tail of court rulings on ordinary legal actions cases expected in 2026/2027. €53m in off-balance sheet revenues related to final positive court rulings on credit exposures to the public sector. 13 Approach to provisions is based on a ruling-by-ruling analysis, without considering effects of out-of-court transactions and positive rulings.
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bff.com 14 €188m of cure period. New past due mostly due to contagion effect 344 269 269 1,306 268 676 521 636 180 1,149 85 188 Dec-24 Exit from past due Collections on past due portfolio Dec-25 Net new purchases on debtors already in past due(2) New debtors in past due(2) Dec-25 1,734 1,606 -€75m contaging invoices from reclassification(1) 944 816 Total past due exposure (€m) (1) Contaging invoices include nominal amount; (2) Do not include €1.3bn new purchases on debtors in past due, purchased and collected in the period. 790 14 b a 54% total past due reduction • 54% reduction in Dec-24 past due stock, excluding new net volumes and new debtors in past due. • Contaging invoices(1) from reclassification down by €75m vs. Dec-24 and by €26m in 4Q. • New past due mostly due to contagion effect. • Past due reduction supported by cure period and potential securitization, not included in 2026 financial targets. a b c Cure period c d d NEW Secondary Colors 1. 214 213 209 2. 3 62 132 3. 84 105 175 4. 194 213 213
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bff.com • CET1 ratio at 14.1%, well above 9.7% SREP; TCR at 17.3% vs. 13.2%, confirming a strong capital position. • CET1 pre-one-offs(1) c. 15.5%, c. 300bps YoY of organic capital generation. • Ongoing reduction of RWAs and RWAs density. • Decision to retain profit from the period to solidify de-risking actions and maximize future shareholders value. 12.2% 14.3% 14.1%12.2% 14.3% 31-Dec-2024 30-Jun-2025 31-Dec-2025 Capital in excess notwithstanding de-risking. c. 300bps YoY of organic capital generation pre-one-offs(1) Common Equity Tier 1 ratio (1) Provisions on negative court rulings and LPIs longer estimated collection days. (2) Calculated as RWAs/Total assets excluding HTC bond portfolio and Cash and Cash Balances. (3) The SREP requirement includes Capital Conservation Buffer, Countercyclical Capital Buffer and Systemic Risk Buffer. RWAs €m 5,215 4,722 RWAs density(2) 70% 62% BFF’s target 13% dividend policy SREP 9.7%(3) 4,911 62% 15 NSFR: 132.8% LCR: 195.2% c. 15.5% CET1 pre-one-offs(1)
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bff.com Takeaways Presentation of the new Strategic Plan in 2H26. Adjusted Net Profit up year-on-year in a challenging environment. Capital generation confirmed. Strong balance sheet, a more conservative approach and continued growth. Decisive de-risking actions ahead of potential securitization. 16
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bff.com Upcoming Events FY25 post-results Roadshow Milan, London, New York, Boston, Paris Banca IMI – Italian Banks Credit Update London Morgan Stanley – European Financials Conference 2026 London 11th – 24th Feb-26 5th Mar-26 17th Mar-26 17 Jefferies – Pan-European Mid-Cap Conference London Banca IMI – Financial Conference 2026 Milan Berenberg – European Conference 2026 New York 26th Mar-26 14th Apr-26 19th May-26 NEW Secondary Colors 1. 214 213 209 2. 3 62 132 3. 84 105 175 4. 194 213 213
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bff.com 18 Appendix
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bff.com Glossary 19 Adj. Adjusted F&L Factoring and Lending OCI Other comprehensive income AuC Asset Under Custody FY Full Year OPEX Operating Expenditures AuD Asset Under Depositary G&A General and Administrative P&L Profit and Loss Avg. Average GSM General Shareholders Meeting PAYM Payments bn billions HTC Held To Collect PBT Profit before taxes bps Basis Points ICT Information and Communication Technologies Q Quarter BS Balance Sheet KPIs Key performance indicators Repo(s) Repurchase agreement(s) CAGR Compounded annual growth rate L/D Loan to Deposit ratio RWA Risk Weighted Assets CC Corporate Center LCR Liquidity Coverage Ratio SREP Supervisory Review and Evaluation Process CEO Chief Executive Officer LPI Late Payment Interest SEC SERV Securities Services CET1 Common Equity Tier 1 m millions TCR Total Capital Ratio CONSOB Commissione Nazionale per le Società e la Borsa - Securities and Exchange Commission M Month UTP Unlikely to Pay D&A Depreciation and Amortization MRO Main Refinancing Operation YE Year End ECHR European Court of Human Rights M2M Mark to Market YoY Year-over-Year ECB European Central Bank NHS National Health Service # Number EoP End of Period NPL Non Performing Loans Euribor Euro InterBank Offered Rate NSFR Net Stable Funding Ratio
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bff.com Management(3) 0.1% True Public Company Source: CONSOB and BFF internal records. Percentage stakes are calculated on total issued shares as of 31/12/2025. (1) (i) As of 31/12/2025, pursuant to Market Abuse Regulation rules, BFF Board of Directors Member Massimiliano Belingheri - Relevant Person of the Bank - and his Closely Associated Persons held (directly or indirectly) 11.4 million shares, equal to 6.0% of the Bank’s share capital. (ii) As of 10/03/2023, pursuant to rules governing the disclosure of major shareholdings, The Bali Trust held indirectly 9.0 million shares, equal to 4.8% of the Bank’s share capital. The Bali Trust is an irrevocable trust with Massimiliano Belingheri and his heirs as beneficiaries. (2) As of 20/09/2024, Artisan Partners Limited Partnership held 9.4 million shares, equal to 5.0% of the Bank’s share capital. (3) The management’s stake refers to BFF shares held by the General Manager and the 4 Vice Presidents in force as of that date, and by their respective Closely Associated Persons. (i) M. Belingheri(1) 6.0% Treasury Shares 0.0% Free Float, 93.9%: (iii) Free Float below 3% 88.9% 20 (ii) Artisan(2) 5.0% Total number of shares: 188,830,452 NEW Secondary Colors 1. 214 213 209 2. 3 62 132 3. 84 105 175 4. 194 213 213
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bff.com Summary reported consolidated Balance Sheet 21 (€m) FY24 FY25 Cash and cash Balances 153.7 124.6 Financial assets measured at fair value through profit or loss 179.3 181.2 a) financial assets held for trading 1.5 1.4 b) financial assets designated at fair value - - c) other financial assets mandatorily measured at fair value 177.8 179.9 Financial assets measured at fair value through OCI 141.4 151.7 Financial assets measured at amortized cost 10,647.4 10,847.2 a) Loans and receivables with banks 602.7 854.8 b) Loans and receivables with customers 10,044.8 9,992.4 Hedging derivatives 0.3 - Equity Investments 13.7 15.3 Property, Plant and Equipment 104.7 104.2 Intangible Assets 77.5 67.2 Tax Assets 114.2 123.4 Other Assets 712.5 675.9 Total Consolidated Assets 12,144.9 12,290.9 Financial liabilities measured at amortized cost 10,661.2 10,783.7 a) deposits from banks 1,342.1 1,307.1 b) deposits from customers 8,709.2 8,856.6 c) securities issued 609.9 620.0 Financial Liabilities Held for Trading 0.1 0.8 Hedging Derivatives - 0.2 Tax Liabilities 175.3 165.6 Other Liabilities 388.4 365.2 Employees Severance Indemnities 3.4 3.5 Provision for Risks and Charges 54.8 48.0 Equity 642.3 853.7 Net Profit 219.3 70.2 Total Consolidated Liabilities and Equity 12,144.9 12,290.9 (1) FY24 Restatement: c. -€19.7m Financial assets measured at amortized cost (Loans and Receivables with customers), c. +€13.1m Tax assets, c. +€8.6m Tax liabilities, c. -€18.8m Equity Reserves and c. +€3.7m Net Profit. (1)
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bff.com FY25 summary P&L 22 (€m) F&L Sec. Serv. Paym. CC Adjusted Adjustments Reported Interest Income 346.6 6.3 6.7 155.3 514.9 (24.7) 490.2 Interest Expenses (181.0) - - (85.4) (266.4) - (266.4) Net Interest Income 165.6 6.3 6.7 70.0 248.5 (24.7) 223.8 Net Fee and Commission Income 2.4 26.9 57.8 (0.9) 86.4 - 86.4 Dividends - - - 17.1 17.1 - 17.1 Gains/Losses on Trading 22.9 - - (7.0) 16.0 - 16.0 Fair value adjustments in hedge accounting - - - - - - - Gains/losses on disposal/repurchase of - - - 10.5 10.5 - 10.5 a) financial assets measured at amortized cost - - - 10.5 10.5 - 10.5 b) financial assets measured at fair value through OCI - - - - - - - c) financial liabilities - - - - - - - Gains (losses) on other financial assets and liabilities measured at fair value through profit or loss 0.6 - - (7.2) (6.6) - (6.6) a) financial assets and liabilities designated at fair value - - - - - - - b) other financial assets mandatorily measured at fair value 0.6 - - (7.2) (6.6) - (6.6) Net Banking Income 191.6 33.2 64.6 82.5 371.8 (24.7) 347.1 Net adjustments/reversals of impairment for credit risk concerning: (6.3) 0.5 - (0.2) (6.0) (75.4) (81.4) a) financial assets measured at amortized cost (6.3) 0.5 - (0.2) (6.0) (75.4) (81.4) b) financial assets measured at fair value through OCI - - - - - - - Administrative and Personnel Expenses (49.7) (21.6) (35.3) (73.4) (180.0) (11.0) (191.0) Net provisions for risks and charges (0.2) - 0.1 0.3 0.2 (3.0) (2.8) a) commitments and guarantees provided (0.1) - - 0.3 0.2 - 0.2 b) other net allocations (0.1) - 0.1 - (0.0) (3.0) (3.0) Net Adjustments to/ Writebacks on Property, Plan and Equipment and Intangible Assets (2.3) (2.1) (1.8) (8.6) (14.8) (2.7) (17.5) Other Operating Income (Expenses) 17.6 0.5 11.7 0.1 29.9 (0.4) 29.5 Gains (Losses) on equity investments 0.5 - - 3.1 3.6 - 3.6 Gains (Losses) from Investments Sales - - - - - - - Profit Before Income Taxes from Continuing Operations 151.2 10.6 39.2 3.6 204.7 (117.3) 87.3 Income Taxes (52.9) 35.8 (17.2) Net Profit 151.7 (81.5) 70.2
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bff.com Adjusted vs. Reported Profit Reconciliation 23 (€m) - Adjustments FY25 Reported Net Profit 70.2 Provisions on negative court rulings 51.3 LPIs longer estimated collection days 15.4 Stock Option / Stock Grant plans 5.5 Customer contract amortisation 1.8 Bankit administrative pecuniary sanction 1.5 Other non recurring items 6.0 Adjusted Net Profit 151.7
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bff.com Group P&L per quarter (1) (1) (1) Net Interest Income includes F&L gains / losses on trading and Corporate Center gains / losses on derivatives used to manage the hedging of currencies and interest rate exposure. (2) Interest Income and Net Income do not include the restatement impact quantified in the reported figures equal to c. +€5. 3m and c. +€3.7m, respectively. Please see press release published on 2-Feb-26 (1) 24 €m GROUP 1Q 2024 2Q 2024 3Q 2024 4Q 2024 1Q 2025 2Q 2025 3Q 2025 4Q 2025 Interest Income 164.7 164.0 159.5 162.0 141.2 140.3 126.3 130.0 Interest Expenses (102.3) (98.8) (97.7) (92.3) (80.6) (68.5) (62.9) (61.3) Net Interest Income 62.4 65.2 61.8 69.7 60.5 71.8 63.5 68.7 Net Fee and Commission Income 20.0 19.7 20.9 21.6 20.4 21.7 22.4 21.9 Other Income 7.4 2.1 0.6 6.0 5.7 2.1 11.5 1.7 Net Banking Income 89.9 87.0 83.3 97.2 86.6 95.6 97.3 92.3 Other Operating Income (Expenses) 8.9 10.1 9.8 11.3 7.9 8.1 6.3 7.7 Gains (Losses) on equity investments 1.4 0.1 0.1 0.8 0.3 0.1 1.1 2.1 Total Net revenues 100.2 97.2 93.2 109.3 94.8 103.8 104.7 102.0 Direct OPEX (41.2) (44.1) (46.1) (48.1) (42.9) (45.1) (41.8) (50.2) of which Personnel Expenses (18.7) (20.3) (19.5) (15.1) (18.3) (18.5) (18.2) (22.6) of which G&A (22.6) (23.9) (26.6) (33.0) (24.7) (26.7) (23.6) (27.5) D&A (3.0) (3.0) (2.7) (2.5) (3.2) (3.4) (3.9) (4.3) Loan Loss Provisions (0.7) (2.6) (1.1) (1.1) (0.6) (0.7) (0.6) (4.1) Net provisions for risks and charges 0.3 (3.3) (0.4) (0.2) 0.0 0.4 0.0 (0.2) Adjusted Profit Before Taxes 55.6 44.1 42.8 57.4 48.1 54.9 58.5 43.2 Adjusted Net Income 41.5 29.5 32.3 39.7 35.0 40.3 42.8 33.7 (2) (2) (2) (2)
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bff.com Non-recourse Factoring and Lending Volumes (€m) 25 A B A B+ Non-recourse Factoring volumes FY24 FY25 Italy 4,367 4,598 NHS 2,923 3,563 PA 992 609 Other 452 426 Spain 2,224 1,900 NHS 1,296 1,108 PA 678 618 Other 249 174 Portugal 542 482 NHS 409 402 PA 133 79 Other - - Greece 235 258 NHS 210 230 PA 20 22 Other 4 6 Croatia - - NHS - - PA - - France 108 275 NHS 101 273 PA 7 2 Total 7,476 7,513 Non-recourse F&L volumes FY24 FY25 Poland 964 1,345 Healthcare 826 1,139 Local Government Units 139 206 Slovakia 22 41 Healthcare 5 20 Local Government Units 17 21 Czech Republic 4 2 Healthcare 1 0 Local Government Units 3 1 Total 990 1,388 FY24 FY25 Total 8,466 8,900
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bff.com 1,554 1,962 2,499 3,018 3,583 4,118 4,067 3,763 5,442 5,617 5,879 5,844 0 1,000 2,000 3,000 4,000 5,000 6,000 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Axis Title 2,502 2,986 3,428 4,001 4,695 5,312 5,786 5,780 7,364 8,114 8,466 8,900 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Factoring & Lending 26 New Volumes (€m) Customer Loans(1) (€m) (1) Following FY24 restatement, 2018-2024 customer loans have been restated for c. -€0.2m, c. -€2.3m, c. -€5.7m, c. -€8.7m, c. -€21.3m, c. -€25.0m and c. -€19.7m, respectively. Please see press release published on 2 -Feb-26. CAGR 2014 – 2025: +12% CAGR 2014 –2025: +13%
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bff.com Factoring & Lending P&L per quarter 27 (1) Net Interest Income includes F&L gains / losses on trading. (2) Net Interest Income does not include the restatement im pact quantified in the reported figures equal to c. +€5.3m. Please see press release published on 2 -Feb-26. €m FACTORING & LENDING 1Q 2024 2Q 2024 3Q 2024 4Q 2024 1Q 2025 2Q 2025 3Q 2025 4Q 2025 Net Interest Income 40.4 44.7 40.5 54.0 43.8 53.7 42.3 48.8 Net Fee and Commission Income 0.9 0.8 1.0 0.4 0.9 0.8 0.8 0.0 Other Income (Expenses) 0.2 - - - (0.3) - - 0.9 Net Banking Income 41.5 45.6 41.5 54.4 44.4 54.5 43.0 49.7 Other Operating Income (Expenses) 4.3 6.4 6.1 6.7 4.9 4.4 4.6 3.7 Gains (Losses) on equity investments 0.2 0.1 0.1 0.1 0.1 0.1 0.2 0.1 Total Net Revenues 45.9 52.1 47.7 61.3 49.4 59.0 47.8 53.5 Direct OPEX (10.9) (11.3) (11.5) (12.5) (11.4) (12.1) (11.3) (15.0) of which Personnel Expenses (6.2) (5.9) (6.1) (5.9) (6.2) (5.7) (5.8) (6.6) of which G&A (4.7) (5.4) (5.4) (6.6) (5.1) (6.4) (5.5) (8.3) Direct D&A (0.7) (0.5) (0.5) 0.1 (0.6) (0.3) (0.7) (0.8) Loan Loss Provisions (0.6) (2.8) (1.2) (0.8) (0.7) (1.2) (0.6) (3.8) Net provisions for risks and charges 0.1 (3.2) (0.1) (0.4) 0.0 0.1 0.1 (0.3) Profit Before Taxes 33.7 34.3 34.4 47.6 36.8 45.5 35.3 33.7 (1) (2) (2) (2) (2)
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bff.com 135 156 175 212 220 142 165 184 232 230 152 175 192 227 228 160 179 216 237 237 2021 2022 2023 2024 2025 162 176 162 117 128 168 164 170 119 141 172 164 178 123 136 173 153 111 126 135 2021 2022 2023 2024 2025 78 82 51 62 75 80 79 52 64 77 83 77 53 67 80 84 50 59 74 84 2021 2022 2023 2024 2025 Payments & Securities Services 28 AuD end of quarter (€bn) Deposits end of quarter (€bn) AuC end of quarter (€bn) Payment transactions by quarter (#m) 9.5 7.6 5.2 6.2 6.5 8.5 7.8 5.6 5.5 7.27.8 6.5 5.3 5.3 6.6 8.5 5.9 6.4 5.7 6.6 2021 2022 2023 2024 2025
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bff.com Payments P&L per quarter 29 €m PAYMENTS 1Q 2024 2Q 2024 3Q 2024 4Q 2024 1Q 2025 2Q 2025 3Q 2025 4Q 2025 Net Interest Income 3.5 2.6 2.1 2.4 2.0 1.7 1.4 1.6 Net Fee and Commission Income 13.5 13.1 14.1 15.0 13.3 14.4 14.8 15.4 Net Banking Income 17.0 15.7 16.1 17.5 15.3 16.1 16.1 17.1 Other Operating Income (Expenses) 2.8 3.0 2.8 2.8 2.7 2.6 2.6 3.9 Gains (Losses) on equity investments - - - - - - - - Total Net Revenues 19.9 18.7 19.0 20.2 17.9 18.7 18.7 21.0 Direct OPEX (8.2) (8.6) (8.8) (9.0) (8.4) (8.6) (8.3) (10.0) of which Personnel Expenses (1.2) (1.4) (1.3) (1.2) (1.3) (1.3) (1.4) (1.5) of which G&A (7.0) (7.2) (7.5) (7.9) (7.1) (7.3) (6.9) (8.5) Direct D&A (0.3) (0.4) (0.4) (0.4) (0.4) (0.4) (0.5) (0.6) Loan Loss Provisions - - - - - - - - Net provisions for risks and charges - - - (0.2) 0.0 0.0 0.0 0.0 Profit Before Taxes 11.3 9.7 9.8 10.6 9.2 9.7 9.9 10.4
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bff.com Securities Services P&L per quarter 30 €m SECURITIES SERVICES 1Q 2024 2Q 2024 3Q 2024 4Q 2024 1Q 2025 2Q 2025 3Q 2025 4Q 2025 Net Interest Income 1.3 1.3 1.3 1.5 1.2 1.5 1.6 1.9 Net Fee and Commission Income 5.8 6.0 6.2 6.5 6.5 6.7 7.0 6.7 Net Banking Income 7.0 7.3 7.5 8.0 7.8 8.2 8.6 8.6 Other Operating Income (Expenses) 0.0 0.0 0.0 0.1 0.0 0.1 0.1 0.3 Gains (Losses) on equity investments - - - - - - - - Total Net Revenues 7.0 7.3 7.5 8.2 7.8 8.2 8.7 8.9 Direct OPEX (5.1) (5.2) (5.1) (7.8) (5.3) (5.4) (5.3) (5.6) of which Personnel Expenses (2.8) (3.0) (2.9) (2.5) (2.7) (2.8) (2.7) (2.9) of which G&A (2.3) (2.2) (2.2) (5.3) (2.7) (2.6) (2.6) (2.7) Direct D&A (0.2) (0.3) (0.3) (0.3) (0.3) (0.5) (0.5) (0.8) Loan Loss Provisions - - - (0.2) 0.1 0.4 (0.0) 0.1 Net provisions for risks and charges - - - 0.2 - - - - Profit Before Taxes 1.7 1.8 2.1 (0.1) 2.3 2.8 3.0 2.6
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bff.com Corporate Center P&L per quarter 31 (1) (1) Net Interest Income includes Corporate Center gains / losses on derivatives used to manage the hedging of currencies and interest rate exposure. €m CORPORATE CENTER 1Q 2024 2Q 2024 3Q 2024 4Q 2024 1Q 2025 2Q 2025 3Q 2025 4Q 2025 Net Interest Income 17.2 16.6 17.9 11.7 13.5 14.8 18.2 16.5 Net Fee and Commission Income (0.1) (0.3) (0.4) (0.4) (0.3) (0.2) (0.1) (0.3) Other Income 7.2 2.1 0.6 6.0 6.0 2.1 11.5 0.7 Net Banking Income 24.3 18.4 18.1 17.3 19.2 16.8 29.6 16.9 Other Operating Income (Expenses) 1.8 0.6 0.8 1.7 0.3 1.1 (1.1) (0.1) Gains (Losses) on equity investments 1.3 - - 0.7 0.2 - 0.9 2.0 Total Net revenues 27.3 19.0 18.9 19.7 19.7 17.9 29.4 18.7 Direct OPEX (17.0) (19.0) (20.7) (18.7) (17.9) (19.1) (16.9) (19.5) of which Personnel Expenses (8.5) (9.9) (9.2) (5.5) (8.1) (8.7) (8.3) (11.6) of which G&A (8.5) (9.1) (11.5) (13.2) (9.7) (10.4) (8.6) (8.0) D&A (1.7) (1.8) (1.5) (1.9) (1.9) (2.3) (2.2) (2.2) Loan Loss Provisions (0.1) 0.2 0.0 (0.0) (0.0) 0.1 0.0 (0.4) Net provisions for risks and charges 0.2 (0.1) (0.3) 0.2 - 0.3 (0.0) 0.1 Adjusted Profit Before Taxes 8.8 (1.7) (3.5) (0.7) (0.1) (3.1) 10.3 (3.4)
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bff.com FY24 summary P&L 32 (€m) F&L Sec. Serv. Paym. CC Adjusted Adjustments Reported Interest Income 394.0 5.4 10.6 225.4 635.4 106.8 742.2 Interest Expenses (229.0) - - (155.2) (384.2) - (384.2) Net Interest Income 165.0 5.4 10.6 70.2 251.2 106.8 358.0 Net Fee and Commission Income 3.1 24.5 55.7 (1.2) 82.1 - 82.1 Dividends - - - 19.8 19.8 - 19.8 Gains/Losses on Trading 14.7 - - (6.9) 7.9 - 7.9 Fair value adjustments in hedge accounting - - - - - - - Gains/losses on disposal/repurchase of - - - 3.3 3.3 - 3.3 a) financial assets measured at amortized cost - - - 3.3 3.3 - 3.3 b) financial assets measured at fair value through OCI - - - - - - - c) financial liabilities - - - - - - - Gains (losses) on other financial assets and liabilities measured at fair value through profit or loss 0.2 - - (7.2) (7.0) - (7.0) a) financial assets and liabilities designated at fair value - - - - - - - b) other financial assets mandatorily measured at fair value 0.2 - - (7.2) (7.0) - (7.0) Net Banking Income 183.0 29.8 66.4 78.1 357.3 106.8 464.1 Net adjustments/reversals of impairment for credit risk concerning: (5.4) (0.2) - 0.1 (5.6) - (5.6) a) financial assets measured at amortized cost (5.4) (0.2) - 0.1 (5.6) - (5.6) b) financial assets measured at fair value through OCI - - - - - - - Administrative and Personnel Expenses (46.2) (20.8) (34.7) (75.3) (177.1) (12.6) (189.7) Net provisions for risks and charges (3.7) 0.2 (0.2) - (3.7) (16.2) (19.9) a) commitments and guarantees provided 0.1 0.2 - - 0.3 - 0.3 b) other net allocations (3.8) - (0.2) - (4.0) (16.2) (20.2) Net Adjustments to/ Writebacks on Property, Plan and Equipment and Intangible Assets (1.7) (1.1) (1.5) (6.9) (11.2) (2.7) (13.9) Other Operating Income (Expenses) 23.5 (2.3) 11.5 4.9 37.6 22.7 60.4 Gains (Losses) on equity investments 0.5 - - 1.9 2.4 - 2.4 Gains (Losses) from Investments Sales - - - - - 4.0 4.0 Profit Before Income Taxes from Continuing Operations 150.0 5.6 41.4 2.9 199.9 102.0 301.9 Income Taxes (56.9) (29.2) (86.2) Net Profit 143.0 72.7 215.7 (1) Interest Income and Net Income do not include the restatement impact quantified in the reported figures equal to c. +€5. 3m and c. +€3.7m, respectively. Please see press release published on 2-Feb-26. (1)
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bff.com This presentation may contain written and oral "forward-looking statements", which includes all statements that do not relate solely to historical or current facts and which are therefore inherently uncertain. All forward-looking statements rely on a number or assumptions, expectations, projections and provisional data concerning future events and are subject to a number of uncertainties and other factors, many of which are outside the control of BFF Bank S.p.A. (the “Company") and its subsidiaries (collectively the Company and its subsidiaries, the “Group”). There are a variety of factors that may cause actual results and performance to be materially different from the explicit or implicit contents of any forward-looking statements and thus, such forward-looking statements are not a reliable indicator of futures performance. The Company undertakes no obligation to publicly update or revise any forward- looking statements whether as a result of new information, future events or otherwise expect as may be required by applicable law. The information and opinions contained in this Presentation are provided as at the date hereof and are subject to change without notice. Neither this Presentation nor any part of it nor the fact of its distribution may form the basis of, or be relied on or in connection with, any contract or investment decision. The information, statements and opinions contained in this Presentation are for information purposes only and do not constitute a public offer under any applicable legislation or an offer to sell or solicitation of an offer to purchase or subscribe for securities or financial instruments or any advise or recommendation with respect to such securities or other financial instruments. None of the securities referred to herein have been, or will be, registered under the U.S. Securities Act of 1933, as amended, or the securities laws of any State or other jurisdiction of the United States or in Australia, Canada or Japan or any jurisdiction where such an offer or solicitation would be unlawful (the "Other Countries"), and there will be no public offer of any such securities in the United States. This Presentation does not constitute or form apart of any offer or solicitation to purchase or subscribe for securities in the United States or the Other Countries. The auditing firm is completing the auditor review of the financial statements, as well as the activities for the issue of the statement in accordance with art. 26 (2) of Regulation EU n. 575/2013 (ECB/2015/4) and with the Bank of Italy Communication of January 22nd 2016. The parent company draft separate financial statements and the consolidated financial statements as at 31 December 2025 will be submitted for approval at the meeting of the Board of Directors scheduled for 30 March 2026. The parent company separate financial statements will be submitted for the approval of shareholders at the Ordinary Meeting scheduled for 30 April 2026. The Financial Reporting Officer, Giuseppe Manno, declares, pursuant to paragraph 2 of article 154-bis of the Legislative Decree n° 58/1998 (“Testo Unico della Finanza”), that the accounting information contained in this presentation corresponds to the document results, accounting books, and records of the Bank. Neither the Company nor any member of the Group nor any of its or their respective representatives, directors or employees accept any liability whatsoever in connection with this Presentation or any of its contents or in relation to any loss arising from its use or from any reliance placed upon it. Disclaimer 33 Sun 246 195 69 Ash 224 231 235 Main Colors Sapphire 0 92 158 Apricot 227 119 67 Secondary Colors Basalt 70 82 89 Stone 104 132 148 Sea green 0 140 143 Azure 61 172 225
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