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Teleborsa : distribution and commercial use strictly prohibited emarket sdir storage CERTIFIED MEDIOBANCA BANCA CWORVM ASC MONTES CREDITO FINA Gruppo Banca Monte dei Paschi di Siena 2Q - 26 & 1H - 26 Consolidated Results 7th August 2026
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153-4-47 186-95-121 156-156-156 218-187-195 230-221-222 232-232-232 51-51-51 254-0-0 THIS DOCUMENT IS BEING PROVIDED TO YOU SOLELY FOR YOUR INFORMATION. THIS DOCUMENT, WHICH WAS PREPARED BY BANCA MONTE DEI PASCHI DI SIENA S.P.A. (THE “COMPANY” OR “BMPS” AND TOGETHER WITH ITS CONSOLIDATED SUBSIDIARIES, THE “GROUP”) MAY NOT BE REPRODUCED IN ANY FORM, FURTHER DISTRIBUTED OR PASSED ON, DIRECTLY OR INDIRECTLY, TO ANY OTHER PERSON, OR REPUBLISHED IN ANY MANNER, IN WHOLE OR IN PART, FOR ANY PURPOSE. ANY FAILURE TO COMPLY WITH THESE RESTRICTIONS MAY CONSTITUTE A VIOLATION OF APPLICABLE LAWS AND VIOLATE THE COMPANY’S RIGHTS. IMPORTANT: You must read the following before continuing. The following applies to this document, the oral presentation of the information in this document by the Company or any person on behalf of the Company, and any question-and-answer session that follows the oral presentation (collectively, the “Information”). In accessing the Information, you agree to be bound by the following terms and conditions. This document was prepared by the Company solely for information purposes and for use in presentations of the Group’s strategies and financials. The information contained herein provides a summary of the Group’s second quarter 2026 (“ 2Q 2026”) and half year 2026 (“ 1H 2026”) financial statements and is not complete. 2Q/1H 2026 complete interim financial statements will be available on the Company’s website at www.gruppomps.it. The information, statements and opinions contained in this presentation are for information purposes only and do not constitute (and are not intended to constitute) an offer of securities for sale, or solicitation of an offer to purchase or subscribe securities, nor shall it or any part of it form the basis of or be relied upon in connection with or act as any inducement or recommendation to enter into any contract or commitment or investment decision whatsoever. Neither this document nor any part of it nor the fact of its distribution may form the basis of, or be relied upon in connection with, any contract or commitment or investment decision whatsoever. Each recipient is therefore responsible for their own independent investigations and assessments regarding the risks, benefits, adequacy and suitability of any operation carried out after the date of this document. Any securities referred to herein have not been registered and will not be registered in the United States under the U.S. Securities Act of 1933, as amended (the “Securities Act”) or under the securities laws of any State or other jurisdiction of the United States or in United Kingdom, Australia, Canada or Japan or any other jurisdiction where such an offer or solicitation would be unlawful (the “Other Countries”). No securities may be offered or sold in the United States unless such securities are registered under the Securities Act, or an exemption from the registration requirements of the Securities Act is available. The Company does not intend to register or conduct any public offer of securities in the United States or in Other Countries. This document does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States or in Other Countries. To the extent applicable, any industry and market data contained in this document has come from official or third-party sources. Third-party industry publications, studies and surveys generally state that the data contained therein has been obtained from sources believed to be reliable, but that there is no guarantee of the fairness, quality, accuracy, relevance, completeness or sufficiency of such data. The Company has not independently verified such data contained therein. In addition, some industry and market data contained in this document may come from the Company’s own internal research and estimates, based on the knowledge and experience of the Company’s management in the market in which the Company operates. Any such research and estimates, and their underlying methodology and assumptions, have not been verified by any independent source for accuracy or completeness and are subject to change without notice. Accordingly, undue reliance should not be placed on any of the industry or market data contained in this document. This document may include certain forward-looking statements, projections, objectives and estimates reflecting the current views of the management of the Company and the Group with respect to future events. Forward-looking statements, projections, objectives, estimates and forecasts are generally identifiable by the use of the words “may”, “will”, “should”, “plan”, “expect”, “anticipate”, “estimate”, “believe”, “intend”, “project”, “goal” or “target” or the negative of these words or other variations on these words or comparable terminology. These forward-looking statements include, but are not limited to, all statements other than statements of historical facts, including, without limitation, those regarding the Company’s and/or Group’s future financial position and results of operations, strategy, plans, objectives, goals and targets and future developments in the markets where the Group participates or is seeking to participate. Any forward-looking statements in this document are subject to a number of risks and uncertainties. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements as a prediction of actual results. The Group’s ability to achieve its projected objectives or results is dependent on many factors which are outside the Group’s control. Actual results may differ materially from those projected or implied in the forward-looking statements. Such forward-looking information involves risks and uncertainties that could significantly affect expected results and is based on certain key assumptions. Moreover, such forward-looking information contained herein has been prepared on the basis of a number of assumptions which may prove to be incorrect and, accordingly, actual results may vary. All forward-looking statements included herein are based on information available to the Company as at the date hereof. The Company undertakes no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as may be required by applicable law. Neither the Company nor any member of the Group nor any of its or their respective representatives, directors, or employees shall be liable at any time in connection with this presentation or any of its contents for any damages including, but not limited to, loss of profits or loss of opportunity, or any other liability whatsoever which may arise in connection with any use and/or reliance placed on this presentation. The Company, the Group and their representatives undertake no obligation to provide the recipients with access to any additional information or to update or revise this document or to correct any inaccuracies or omissions contained herein that may become apparent. This presentation shall remain the property of the Company. Disclaimer 2 Pursuant to paragraph 2, article 154-bis of the Consolidated Finance Act, the Financial Reporting Officer, Mr. Nicola Massimo Clarelli, declares that the accounting information contained in this document corresponds to the document results, books and accounting records.
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153-4-47 186-95-121 156-156-156 218-187-195 230-221-222 232-232-232 51-51-51 254-0-0 2Q-26 & 1H-26 Consolidated Results Notes: Data for the first two quarter of 2025 redetermined following the acquisition of Mediobanca finalised in September 2025: the related items were consolidated line by line with reference to the income statement, including the corresponding net inco me under minority interests. Data for the first quarter of 2026 restated following the PPA process update.
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153-4-47 186-95-121 156-156-156 218-187-195 230-221-222 232-232-232 51-51-51 254-0-0 2Q-26 & 1H-26 Executive Summary 4 Strong earnings momentum continues:1H-26 net profit above €1.1bn and profit before taxes at €1,970m +12.2% y/y, driven by the strengthened quality of the operating performance; 2Q-26 net profit above €0.6bn, +20.2% q/q Efficiency and stronger business model driving performance:1H-26 gross operating profit at €2.3bn, +8.0% y/y driven by increased revenues (+4.1% y/y) thanks to a strong business model and to the effective management of operating costs (-0.7% y/y), despite inflationary pressure and labour contract renewal. C/I down 2 p.p. y/y at 43%. 2Q-26 gross operating profit at €1,198m, +8.7% q/q and +11.4% vs 2Q-25, driven by fees showing a solid growth pace with +8.4% q/q and +9.0% vs 2Q-25 Commercial momentum remains solid: customer loans at €131bn, +1.8% q/q and +5.6% y/y, driven by retail & commercial banking, consumer finance and CIB units; commercial direct savings at €107bn, +0.9% q/q and +2.0% y/y; further expansion of indirect funding, at €193bn, +4.6% q/q and +9.2% y/y, mainly driven by AuM component Asset quality well under control: 2Q-26 cost of risk at 37bps (39bps in 1H-26); Gross NPE stock stable at €3.7bn; Gross NPE ratio at 2.5% and net NPE ratio at 1.2% Solid capital ratio, with CET1 ratio at a sound level of 16.3% (above +40bps q/q); best-in class capital buffer, providing significant strategic flexibility Sound liquidity position of the Group, with counterbalancing capacity at €48bn, LCR at 169% and NSFR at 122% MPS / Mediobanca merger on track to be effective by 4Q-26, with the integration process progressing smoothly and in line with the plan and synergies expected in 2026 above 30% of the total amount
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153-4-47 186-95-121 156-156-156 218-187-195 230-221-222 232-232-232 51-51-51 254-0-0 Net Profit Quarterly Evolution1, €m Yearly Evolution1, €m 5 892 1,118 1H-25 1H-26 479 508 610 2Q-25 1Q-26 2Q-26 +20.2% +27.3% 1H-26 net profit above €1.1bn, +25.3% y/y, driven by the strengthened quality of the operating performance 2Q-26 net profit above €0.6bn, +20.2% q/q and +27.3% vs 2Q-25, thanks to higher revenues, with a strong performance of fees, effective management of operating costs and cost of risk in line with Business Plan trajectory +25.3% Notes: 1. 2Q-25 and 1H-25 equivalent to stated figures following the inclusion of Mediobanca net profit in the minority interest.
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153-4-47 186-95-121 156-156-156 218-187-195 230-221-222 232-232-232 51-51-51 254-0-0 Net Operating Profit Quarterly Evolution, €m Yearly Evolution, €m 6 1,857 2,008 1H-25 1H-26 +11.8% +12.7% 1H-26 net operating profit above €2bn, +8.2% y/y driven by higher revenues with a stronger mix reflecting diversified business model, effective management of operating costs and cost of risk in line with Business Plan trajectory 2Q-26 net operating profit above €1.0bn, +11.8% q/q and +12.7% vs 2Q-25 thanks to increased core revenues supported by fee acceleration, testifying the strength of the Group’s network 941 948 1,060 2Q-25 1Q-26 2Q-26 +8.2%
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153-4-47 186-95-121 156-156-156 218-187-195 230-221-222 232-232-232 51-51-51 254-0-0 Gross Operating Profit Quarterly Evolution Operating Income Evolution, €m Gross Operating Profit Evolution, €m 7 2Q-26 gross operating profit at €1,198m, +8.7% q/q and +11.4% vs 2Q-25, driven by increased revenues thanks to a stronger mix with an excellent performance of fees in the quarter, confirming the solidity of Group’s business model and the strength of the network 2Q-26 C/I at 42% down both q/q and y/y 1,962 1,960 2,065 2Q-25 1Q-26 2Q-26 887 857 867 2Q-25 1Q-26 2Q-26 +5.4% +5.3% -2.2% +1.1% Operating Costs Evolution, €m 1,075 1,102 1,198 2Q-25 1Q-26 2Q-26 +8.7% +11.4% 45% 44% 42%Cost/Income
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153-4-47 186-95-121 156-156-156 218-187-195 230-221-222 232-232-232 51-51-51 254-0-0 Gross Operating Profit Yearly Evolution Operating Income Evolution, €m Gross Operating Profit Evolution, €m 8 1H-26 gross operating profit at €2,300m, +8.0% y/y driven by increased revenues (+4.1% y/y) thanks to a stronger quality and mix confirming the strength of Group’s business model, and to the effective management of operating costs down -0.7% y/y, despite inflationary pressure and labour contract renewal C/I down 2 p.p. y/y at 43% 3,866 4,024 1H-25 1H-26 1,736 1,724 1H-25 1H-26 +4.1% -0.7% Operating Costs Evolution, €m 2,130 2,300 1H-25 1H-26 +8.0% 45% 43%Cost/Income
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153-4-47 186-95-121 156-156-156 218-187-195 230-221-222 232-232-232 51-51-51 254-0-0 Net Interest Income Quarterly Evolution, €m 9 1H-26 NII close to €2.1bn, +0.3% y/y sustained, in a different interest rates scenario, by increased loan volumes and effective management of commercial spread 2Q-26 NII at €1,062m, +2.5% q/q and +0.6% y/y, supported also by increasing commercial spread 1,055 1,036 1,062 2Q-25 1Q-26 2Q-26 4.44% 4.33% 4.34%Commercial Lending rate 0.98% 0.81% 0.81%Commercial Funding rate 3.46% 3.51% 3.53%Commercial Spread +2.5% +0.6% Yearly Evolution, €m 2,091 2,097 1H-25 1H-26 +0.3% 4.55% 4.34% 1.04% 0.81% 3.51% 3.52%
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153-4-47 186-95-121 156-156-156 218-187-195 230-221-222 232-232-232 51-51-51 254-0-0 Net Fees & Commissions Quarterly Evolution Commercial Banking Fees Evolution, €m 10 2Q-26 fees at €670m showing a solid growth pace with +8.4% q/q and +9.0% vs 2Q-25, mainly driven by a strong performance of WM and advisory fees, confirming the value and the potential of Group’s business model and the strength of the network WM and Advisory Fees Evolution, €m Total Fees Evolution, €m +8.4% +9.0% +8.3% +0.9% +13.8% +8.5% 228 213 230 2Q-25 1Q-26 2Q-26 387 406 440 2Q-25 1Q-26 2Q-26 615 618 670 2Q-25 1Q-26 2Q-26
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153-4-47 186-95-121 156-156-156 218-187-195 230-221-222 232-232-232 51-51-51 254-0-0 Net Fees & Commissions Yearly Evolution Commercial Banking Fees Evolution, €m 11 1H-26 fees at €1,288m, +3.6% y/y driven by a solid growth of WM and advisory fees thanks to commercial effectiveness and focus o f the Group’s network, and resilient dynamic in commercial banking fees WM and Advisory Fees Evolution, €m Total Fees Evolution, €m +3.6% +0.2% +5.4% 442 443 1H-25 1H-26 802 846 1H-25 1H-26 1,244 1,288 1H-25 1H-26
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153-4-47 186-95-121 156-156-156 218-187-195 230-221-222 232-232-232 51-51-51 254-0-0 Commercial Performance Total Financial Assets, €bn WM Gross Inflows, €bn 12 Strong commercial performance in 2Q-26, confirming the strength of the franchise: total financial assets at €300bn, increased +3.3% q/q, WM gross inflows at €6.0bn, €1.9bn new retail mortgages granted in the quarter (+16.1% q/q) and €2.8bn new consumer finance (+5.2% q/q) New Retail Mortgages, €bn New Consumer Finance, €bn 2.4 1.7 1.9 2Q-25 1Q-26 2Q-26 282 290 300 Jun-25 Mar-26 Jun-26 +3.3% 5.7 6.3 6.0 2Q-25 1Q-26 2Q-26 -4.7% 2.5 2.7 2.8 2Q-25 1Q-26 2Q-26 +5.2%+16.1% +6.5% +5.1% -18.6% +11.6%
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153-4-47 186-95-121 156-156-156 218-187-195 230-221-222 232-232-232 51-51-51 254-0-0 Commercial Customer Loans Commercial Customer Loans Evolution¹, €bn 13 Customer loans at €131bn, +1.8% q/q and +5.6% y/y, driven by retail & commercial banking, consumer finance and CIB business +5.6% Managerial data. Jun -25 pro forma data of the combined entity, including Mediobanca figures and no fair value adjustments from PPA. Notes: 1. Gross performing loans to customers. 65 66 67 68 17 17 17 18 21 21 21 21 21 22 23 24 Jun-25 Dec-25 Mar-26 Jun-26 124 Corporate & Investment BankingAG&WM & Private BankingConsumer FinanceRetail & Commercial Banking +1.8% 128 129 131
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153-4-47 186-95-121 156-156-156 218-187-195 230-221-222 232-232-232 51-51-51 254-0-0 Commercial Direct Savings Commercial Direct Savings Evolution¹, €bn 14 Commercial direct savings at €107bn, +0.9% q/q Solid y/y growth with +€2.1bn since June 2025 Managerial data. Jun--25 pro forma data of the combined entity, including Mediobanca figures and no fair value adjustments from PPA. Due to a reclassification of clients between commercial segments, historic figures have been recast. Notes: 1. Commercial direct savings related to business units. Retail & Commercial Banking AG&WM & Private Banking Corporate & Investment Banking 41 42 41 43 59 60 59 58 4 5 5 5 Jun-25 Dec-25 Mar-26 Jun-26 +2.0% +0.9% 105 107 107106
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153-4-47 186-95-121 156-156-156 218-187-195 230-221-222 232-232-232 51-51-51 254-0-0 Indirect Funding Indirect Funding Mix, €bn 15 Indirect funding at €193bn, +4.6% q/q and +9.2% y/y, mainly driven by AuM component 177 185 193 Corporate & Investment BankingAG&WM & Private BankingRetail & Commercial Banking 13 13 13 13 155 162 161 169 9 9 12 11 Jun-25 Dec-25 Mar-26 Jun-26 +4.6% +9.2% 7 7 7 7 104 110 109 115 0.2 0.2 Jun-25 Dec-25 Mar-26 Jun-26 AuM, €bn AuC, €bn 6 7 6 6 51 52 52 54 9 9 11 11 Jun-25 Dec-25 Mar-26 Jun-26 111 117 122 66 68 71 +5.6% +10.2% +3.0% +7.5% 185 116 69 Managerial data. Jun--25 pro forma data of the combined entity, including Mediobanca figures and no fair value adjustments from PPA. Due to a reclassification of clients between commercial segments, historic figures have been recast.
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153-4-47 186-95-121 156-156-156 218-187-195 230-221-222 232-232-232 51-51-51 254-0-0 Operating Costs Quarterly Evolution HR Costs Evolution, €m Operating Costs Evolution, €m 16 2Q-26 operating costs at €867m, +1.1% q/q reflecting the impact of increased variable remuneration in HR costs, with non -HR costs well under control despite inflationary pressure Operating costs down -2.2% y/y, thanks to solid track record in effective management of non-HR costs (-9.1% y/y), more than offsetting the impact of labour contract renewal and the increase in the variable remuneration +2.5% +2.1% -9.1% -1.4% Non-HR Costs Evolution, €m 545 542 556 2Q-25 1Q-26 2Q-26 342 315 311 2Q-25 1Q-26 2Q-26 887 857 867 2Q-25 1Q-26 2Q-26 -2.2% +1.1%
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153-4-47 186-95-121 156-156-156 218-187-195 230-221-222 232-232-232 51-51-51 254-0-0 Operating Costs Yearly Evolution HR Costs Evolution, €m Operating Costs Evolution, €m 17 1H-26 operating costs down -0.7% y/y at €1,724m, with the impact of increased variable remuneration and labour contract renewal in HR-costs more than offset by lower non-HR costs, confirming the solid track record in effective management of costs +2.1% -5.2% Non-HR Costs Evolution, €m 1,076 1,098 1H-25 1H-26 661 626 1H-25 1H-26 1,736 1,724 1H-25 1H-26 -0.7%
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153-4-47 186-95-121 156-156-156 218-187-195 230-221-222 232-232-232 51-51-51 254-0-0 Asset Quality & Cost of Risk Gross NPE stock, €bn NPE Coverage, % 18 Gross NPE stock stable q/q at €3.7bn; Gross NPE ratio at 2.5% and decreased net NPE ratio at 1.2% 2Q-26 cost of risk at 37bps, down vs 1Q-26; 1H-26 cost of risk at 39bps in line with Business Plan trajectory Overlays at €266m Cost of Risk, bps 51.6% 49.5% 50.6% 50.6% Sep-25 Dec-25 Mar-26 Jun-26 42 37 1Q-26 2Q-26 3.1% 2.7% 2.5%Gross NPE Ratio¹ 1.5% 1.4%Net NPE Ratio 1.2% 4.4 3.9 3.7 3.7 Sep-25 Dec-25 Mar-26 Jun-26 2.5% 1.3% 39bps 1H-26 CoR Dec-25 figures recast considering Mediobanca NPE as POCI (Purchased or Originated Credit Impaired) with GBV equal to purchase price, which already includes the effects of credit deterioration and no impact on net exposures. Notes: 1. Calculated only on loans to customers.
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153-4-47 186-95-121 156-156-156 218-187-195 230-221-222 232-232-232 51-51-51 254-0-0 Funding & Liquidity Position LCR Evolution, % 19 Sound liquidity position of the Group, with counterbalancing capacity at €48bn LCR up at 169% also thanks to the successful completion of the issuance of €500m of senior bond and €500m of covered bond; NSFR at 122% NSFR Evolution, % 161% 167% 157% 169% Sep-25 Dec-25 Mar-26 Jun-26 122% 121% 121% 122% Sep-25 Dec-25 Mar-26 Jun-26
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153-4-47 186-95-121 156-156-156 218-187-195 230-221-222 232-232-232 51-51-51 254-0-0 Capital FL CET1 Capital, % FL Capital Ratios, % 20 CET1 ratio at a sound level of 16.3%, increasing above 40bps q/q RWA increase following the strong lending activity Best-in class capital buffer, providing strategic flexibility RWA, €bn 16.9%CET1 ratio (%) Tier 1 ratio (%) Total capital ratio (%) 16.2% 15.9% 9.51% 17.0% 16.3% 16.0% 11.42% 19.3% 18.4% 17.9% 13.97% Sep-25 Dec-25 Mar-26 SREP 20261 16.9% 16.2% 15.9% 16.3% 9.5% Sep-25 Dec-25 Mar-26 Jun-26 SREP 2026 85.0 87.7 89.8 91.6 Sep-25 Dec-25 Mar-26 Jun-26 15.9% 16.3%+0.7% -0.7% -0.3% +0.3% +0.4% Mar-26 2Q-26 Group Net profit Dividend RWA increase Impact from associates’ equity value DTA & Others Jun-26 FL CET 1 Ratio: Quarterly Dynamics 16.3% 16.4% 18.3% Jun-26 Capital ratios fully loaded exclude only the temporary filter relating to the OCI Reserve on government bonds (no longer applicable from January 2026). Notes: 1. Including 50bps increase for O-SII buffer, starting from 1 April 2026.
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153-4-47 186-95-121 156-156-156 218-187-195 230-221-222 232-232-232 51-51-51 254-0-0 Purchase Price Allocation (PPA) Value to be allocated 21 Purchase Price Allocation process substantially completed in 2Q-26 with the determination of value to intangible assets (brand, customer relationship and core deposits), setting goodwill at €2.2bn PPA Process Phase 1 (Dec-25) 17.8 11.3 14.9 6.5 3.6 ~3 0.5 0.7 0.1 -0.4 -0.1 2.2 Purchase PriceMB Book Value Price to be allocated Price Allocation FV Book Value pre- intangibles Goodwill 31.12.25 Brand Customer Relationship Core Deposits Tax Impact Reversal of intangible booked in MB and others FV Book Value post- intangibles Goodwill 30.06.26 15.7 Determination of Intangible Value Phase 2 (Jun-26) Price allocation: €3.6bn Price allocation: €0.8bn
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153-4-47 186-95-121 156-156-156 218-187-195 230-221-222 232-232-232 51-51-51 254-0-0 Update on the Merger with Mediobanca & 2Q-26 &1H-26 Mediobanca Results Key Messages
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153-4-47 186-95-121 156-156-156 218-187-195 230-221-222 232-232-232 51-51-51 254-0-0 Mediobanca: consolidated results summary 23 1H-Net profit at €711m (up 6% y/y) with 2Q ~€390m (up 20% q/q) 1H-26 consolidated revenues up 6% y/y to €1,948m, with an acceleration in 2Q (up 8% q/q to €1,010m). Sound contribution in CIB, Consumer Finance and Principal Investments, backed by healthy commercial business – NII resilient (down 1% y/y), backed by loan volume growth, with positive trend in last two quarters – Fees up 3% y/y thanks to double-digit CIB performance (up 17% y/y) offsetting softer Wealth Management (upfront and performance fees). Stronger momentum in 2Q (fees up 15% q/q) – Other income up 30% y/y, driven by strong trading (€167m) and sound Principal Investments contribution (up 9% y/y to €291m) C/I ratio at 40%, down 3pp y/y, reflecting 2% y/y cost reduction, mainly related to G&A (down 7%) and control of staff costs (up 1% y/y) Gross operating income (GOP) at €1,173m, up 12% y/y with 2Q >€600m CoR at 54bps, reflecting ongoing CoR normalization in Consumer Finance, in line with guidance. Overlays stock at €132m Sound asset business: commercial loans up 7% y/y (to €57bn) with stable funding up 2% y/y (to €72bn); TFAs up 4% y/y (to €117bn) ROTE at 14.9% with solid capital position: CET1 ratio at 15.85%1 Notes: 1. The fully loaded CET1 ratio is ~15.6%, including fully loaded impacts of CRR3 and excluding impact related to FRTB
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153-4-47 186-95-121 156-156-156 218-187-195 230-221-222 232-232-232 51-51-51 254-0-0 Revenues Contribution by Segment confirms the importance of high multiple businesses 24 Revenues Contribution by Segment1 Retail & Commercial Banking C&IB Retail & Commercial Banking Principal Investing Corporate & Investment Banking Consumer Finance Asset Gathering & Wealth Management Private Banking Consumer Finance Wealth Management €4bn Revenues 1H 2026 Notes: 1. Percentage by area of business calculated net of the Corporate Center. Percentages may not sum to 100% due to rounding. 18% 30% 17% 8% 28% 21% 9% Financial Advisor
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153-4-47 186-95-121 156-156-156 218-187-195 230-221-222 232-232-232 51-51-51 254-0-0 MPS / Mediobanca Merger on Track to be Effective by 4Q-26 25 Xxx Xxx Xxx Xxx Key Updates Implemented Business Transformation priorities: target service and client coverage, value proposition, distribution and referral agreements within networks and factories Initiated IT and Security developments to support the target operating model and the integration of platforms, data and processes to ensure continuity at Day 1 Secured all legal, regulatory, and compliance aspects of the Integration Program, including preparatory activities for communications to stakeholders, as well as other mandatory requirements Implemented retention actions in Mediobanca Wealth Management and Private Banking Following the BMPS BoD’s approval on 22.06.2026 of the demerger operations, submitted the core regulatory filings to the competent authorities, 1 Integration is progressing smoothly and in line with the plan, with regulatory approvals expected in Q3 2026 and shareholders’ meetings and Group reorganization effectiveness in Q4 2026 Notes: 1. Merger by incorporation of Mediobanca into BMPS; Demerger by way of spin-off of BMPS in favour of MB Premier which will be named “Mediobanca S.p.A.”; Partial Demerger of MB Premier in favour of Banca Widiba which will be named “Mediobanca Financial Advisor S.p.A.”
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153-4-47 186-95-121 156-156-156 218-187-195 230-221-222 232-232-232 51-51-51 254-0-0 Expected Synergies Confirmed Synergies target and phasing Main initiatives activated in 2Q-26 26 2028 €0.7bn >30% ~75% 100% 2026 2027 2028 Phasing The initiatives already in force in 1H-26 have secured the bulk of 2026 target synergies, giving comfort about achieving and potentially exceeding 2026 targets Acceleration of Compass product penetration across the MPS network, supported by the development of 3 commercial initiatives: personal loans, salary-backed loan and credit-line Launch of lending product factories distribution through the MPS network, generating 200+ referrals Placement of MB certificates and MB SGR funds through the MPS network, alongside the ongoing revision of economic terms of distribution agreements with Asset Managers Completion of synergic Lending and Debt Advisory deals, leveraging complementary MPS and MB client relationships and product capabilities Revenues Additional alignment of pricing conditions on shared supplier agreements (e.g. facility, security, selected IT contracts), enabled by Group scale Continue implementation of Group procurement process through additional joint tenders (e.g. infoprovider, postal services, selected IT contracts) Costs Further optimization of the funding mix between collateralized and unsecured sources, through the execution of 2026 issuances at spreads below those applied in 2025 (e.g. covered bond) Funding 1H-26 results
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153-4-47 186-95-121 156-156-156 218-187-195 230-221-222 232-232-232 51-51-51 254-0-0 MPS’s Update on ISP Offer and other Strategic Developments
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153-4-47 186-95-121 156-156-156 218-187-195 230-221-222 232-232-232 51-51-51 254-0-0 MPS’s Update on Intesa Sanpaolo’s Offer and other Strategic Developments 28 The preliminary observations regarding the Offer published by MPS’s Board of Directors on 16 July 2026 remain valid, including those relating to the consideration offered, execution and regulatory risks On 31 July 2026, BMPS acknowledged Crédit Agricole’s considerations and the subsequent position of Banco BPM, which resolved to discontinue the consultations regarding the potential combination proposed, while re-affirming the strong strategic and industrial rationale of the project set forth in the letter dated 7 June 2026 MPS Board of Directors, with the support of its advisors, is committed to identify any potential alternative strategic option in the best interest of MPS shareholders and other stakeholders On 8 June 2026, Intesa Sanpaolo announced a Voluntary Public Tender and Exchange Offer on all MPS shares (the “Offer”)
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153-4-47 186-95-121 156-156-156 218-187-195 230-221-222 232-232-232 51-51-51 254-0-0 Final Remarks
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153-4-47 186-95-121 156-156-156 218-187-195 230-221-222 232-232-232 51-51-51 254-0-0 Conclusion and 2026 Outlook 30 2Q26 confirms the acceleration of the Group’s economic performance, sustained by the synergies developed following the integration with Mediobanca Solid growth rates both q/q and y/y: – 2Q-26 profit before tax above €1.0bn, +15.9% q/q and +17.4% vs 2Q-25 – 2Q-26 net operating profit +11.8% q/q and +12.7% vs 2Q-25 – Total financial assets at €300bn, +3.3% q/q, WM gross inflows at €6.0bn, €1.9bn new retail mortgages granted in the quarter (+16% q/q) and €2.8bn new consumer finance (+5% q/q) 1H26 strong capital position, with CET1 ratio above 16.3% Guidance on profit before tax increased to €3.6bn
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153-4-47 186-95-121 156-156-156 218-187-195 230-221-222 232-232-232 51-51-51 254-0-0 Business Units main figures
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153-4-47 186-95-121 156-156-156 218-187-195 230-221-222 232-232-232 51-51-51 254-0-0 Retail & Commercial Banking Revenues, €m 32 534 502 548 2Q-25 1Q-26 2Q-26 286 276 285 2Q-25 1Q-26 2Q-26 150 159 212 2Q-25 1Q-26 2Q-26 Operating Costs, €m Profit Before Taxes, €m Commercial Customer Loans1, €bn 65 67 68 Jun-25 Mar-26 Jun-26 41 41 43 Jun-25 Mar-26 Jun-26 13 13 13 Jun-25 Mar-26 Jun-26 Commercial Direct Savings, €bn Indirect Funding, €bn 55% 52%C/I 53% 2Q-26 revenues at €548m, strongly increasing q/q (+9%) and y/y (+3%), thanks to commercial activity, with loans progressively up Cost/income ratio at 52%, down 3 p.p. q/q Profit before taxes at €212m, up q/q and y/y Commercial customer loans at €68bn in Jun-26 increasing €+1.3bn q/q and more than €3bn y/y, mainly driven by new retail mortgages Commercial direct savings at €43bn significantly increased both q/q (+4%) and y/y (+4%) Indirect funding at around €13bn Notes: 1. Gross performing loans to customers.
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153-4-47 186-95-121 156-156-156 218-187-195 230-221-222 232-232-232 51-51-51 254-0-0 Consumer Finance Revenues, €m 33 314 334 330 2Q-25 1Q-26 2Q-26 93 91 89 2Q-25 1Q-26 2Q-26 153 161 160 2Q-25 1Q-26 2Q-26 Operating Costs, €m Profit Before Taxes, €m CoR, bps 169 187 187 2Q-25 1Q-26 2Q-26 2.4 2.6 2.7 2Q-25 1Q-26 2Q-26 17 17 18 Jun-25 Mar-26 Jun-26 New Loans, €bn Commercial Customer Loans1, €bn 27% 27%C/I 30% Notes: 1. Gross performing loans to customers. 2Q-26 revenues at €330m maintaining the solid pace of 1Q-26, accelerating by +5% y/y, thanks to new loans momentum Positive progression of operating costs, decreasing both q/q and y/y with C/I ratio down by 3p.p. at 27% Profit before tax at €160m, almost stable q/q and increasing y/y (+5%) despite expected cost of risk normalization at 187bps Solid commercial momentum with new loans in 1H-26 at €5.3bn leading to a positive progression of commercial customer loans to €18bn
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153-4-47 186-95-121 156-156-156 218-187-195 230-221-222 232-232-232 51-51-51 254-0-0 Asset Gathering & Wealth Management Revenues, €m 34 355 366 413 2Q-25 1Q-26 2Q-26 174 170 168 2Q-25 1Q-26 2Q-26 178 195 242 2Q-25 1Q-26 2Q-26 Operating Costs, €m Profit Before Taxes, €m TFA, €bn 132 139 144 Jun-25 Mar-26 Jun-26 77 82 87 22 24 25 Jun-25 Mar-26 Jun-26 1.7 1.9 1.3 2Q-25 1Q-26 2Q-26 Indirect Funding, €bn NNM, €bn 47% 41%C/I 49% AuM AuC 11110699 Total revenues at €413m, up +13% q/q and +16% y/y driven by core revenues growth Operating costs at €168m down -1% q/q and -3% y/y with C/I ratio decreased at 41% Profit before tax at €242m with a solid trend, increasing both q/q (+24%) and y/y (+36%) Strong progression of TFA, increasing by €13bn y/y, of which €6bn in 2Q-26, with quarterly and yearly growth driven by indirect funding acceleration also thanks to positive market effect
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153-4-47 186-95-121 156-156-156 218-187-195 230-221-222 232-232-232 51-51-51 254-0-0 Private Banking Revenues, €m 35 175 167 172 2Q-25 1Q-26 2Q-26 122 112 113 2Q-25 1Q-26 2Q-26 73 50 52 2Q-25 1Q-26 2Q-26 Operating Costs, €m Profit Before Taxes, €m TFA, €bn 83 81 83 Jun-25 Mar-26 Jun-26 27 27 28 29 28 29 Jun-25 Mar-26 Jun-26 2.7 -1.9 -1.4 2Q-25 1Q-26 2Q-26 Indirect Funding, €bn NNM, €bn 67% 66%C/I 70% AuM AuC 585556 Total revenues at €172m showing a growth q/q reflecting the ongoing normalization of the franchising Operating costs at €113m with an almost stable q/q C/I ratio at 66% Profit before tax at €52m TFA at €83bn almost stable y/y but increasing +2% q/q driven by indirect funding growth (+4% q/q) and positive market performance
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153-4-47 186-95-121 156-156-156 218-187-195 230-221-222 232-232-232 51-51-51 254-0-0 Corporate Investment Banking Revenues, €m 36 265 297 342 2Q-25 1Q-26 2Q-26 127 119 123 2Q-25 1Q-26 2Q-26 136 174 205 2Q-25 1Q-26 2Q-26 Operating Costs, €m Profit Before Taxes, €m Fees, €bn 100 108 139 2Q-25 1Q-26 2Q-26 21 23 24 Jun-25 Mar-26 Jun-26 4 5 5 Jun-25 Mar-26 Jun-26 Commercial Customer Loans1, €bn Commercial Direct Savings, €bn 40% 36%C/I 48% Notes: 1. Gross performing loans to customers. Total revenues at €342m, with a strong acceleration in 2Q-26 (+15% q/q and +29% y/y), driven by excellent fee performance Fees up both q/q (+29%) and y/y (+39%) with sound contribution from Advisory Operating costs at €123m down y/y with a progressive reduction of C/I ratio at 36% Profit before tax at €205m significantly increasing both q/q (+18%) and y/y (+51%) Positive progression of commercial customer loans at €24bn, increasing +2% q/q and +11% y/y Commercial direct savings at €5bn, up y/y by €1bn
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153-4-47 186-95-121 156-156-156 218-187-195 230-221-222 232-232-232 51-51-51 254-0-0 Principal Investing Revenues, €m 37 172 138 177 2Q-25 1Q-26 2Q-26 7.0 7.1 6.9 Dec-25 Mar-26 Jun-26 AG book value, €bn 7.3 7.1 8.7 Dec-25 Mar-26 Jun-26 AG market value, €bn Assicurazioni Generali (13% stake) Revenues at €177m, up q/q mainly reflecting AG solid contribution and positive impact from FV valuation of funds AG book value: €6.9bn down q/q after dividend payments with market valuation at €8.7bn
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153-4-47 186-95-121 156-156-156 218-187-195 230-221-222 232-232-232 51-51-51 254-0-0 Appendix – Supporting Materials
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153-4-47 186-95-121 156-156-156 218-187-195 230-221-222 232-232-232 51-51-51 254-0-0 Reclassified Income Statement 39 (€m) 1Q-25 2Q-25 1Q-26 2Q-26 1H-25 1H-26 2Q-26 / 1Q- 26 (%) 2Q-26 / 2Q- 25 (%) 1H-26 / 1H- 25 (%) Net Interest Income 1,036 1,055 1,036 1,062 2,091 2,097 +2.5% +0.6% +0.3% Net fees and commission income 629 615 618 670 1,244 1,288 +8.4% +9.0% +3.6% Core Revenues 1,665 1,670 1,654 1,732 3,335 3,386 +4.7% +3.7% +1.5% Profit (loss) of equity-accounted investments 121 187 146 186 308 332 +26.9% (0.7%) +7.8% Financial revenues 1 106 86 143 131 192 274 (8.0%) +52.8% +43.0% Other operating net income 13 19 17 16 32 33 (4.6%) (15.5%) +3.4% Operating Income 1,905 1,962 1,960 2,065 3,866 4,024 +5.4% +5.3% +4.1% Personnel expenses (531) (545) (542) (556) (1,076) (1,098) +2.5% +2.1% +2.1% Other administrative expenses (253) (270) (249) (246) (523) (495) (1.1%) (8.7%) (5.4%) Depreciations/amortisations and net impairment losses on PPE (65) (72) (66) (65) (137) (131) (2.4%) (10.6%) (4.7%) Operating Costs (849) (887) (857) (867) (1,736) (1,724) +1.1% (2.2%) (0.7%) Gross operating profit 1,055 1,075 1,102 1,198 2,130 2,300 +8.7% +11.4% +8.0% Net impairment losses for credit risk (143) (131) (154) (138) (274) (292) (10.2%) +5.5% +6.4% Net impairment losses for other financial assets 3 (3) (1) 1 0 0 n.m. n.m. (75.0%) Net operating profit 916 941 948 1,060 1,857 2,008 +11.8% +12.7% +8.2% Net gain/losses on equity investments, PPE and intangible assets at FV, and disposal of investments (7) (9) (1) 20 (16) 19 n.m. n.m. n.m. Systemic funds contribution (1) 0 (2) (1) (1) (3) (2.7%) n.m. n.m. DTA Fee (14) (14) (1) (2) (29) (3) n.m. (85.4%) (89.9%) Net accruals to provisions for risks and charges (26) 2 (9) (1) (24) (10) (93.1%) n.m. (58.1%) Restructuring costs / one-off costs (13) (19) (23) (19) (33) (42) (15.1%) (1.3%) +28.0% Pre-tax profit (loss) 854 901 913 1,057 1,755 1,970 +15.9% +17.4% +12.2% Income taxes (101) (77) (294) (354) (178) (648) +20.3% n.m. n.m. Profit (loss) attributable to non-controlling interests (340) (344) (33) (48) (684) (81) +44.2% (86.2%) (88.2%) Profit (loss) for the period before PPA pertaining to Parent Company 413 479 585 656 892 1,241 +12.0% +36.8% +39.1% PPA (Purchase Price Allocation) net economic impact (tangibles) 0 0 (64) (32) 0 (96) (50.2%) n.m. n.m. PPA (Purchase Price Allocation) net economic impact (intangibles) 0 0 (14) (14) 0 (28) 0.0% n.m. n.m. Profit (loss) for the period pertaining to Parent Company 413 479 508 610 892 1,118 +20.2% +27.3% +25.3% Data for the first two quarter of 2025 redetermined following the acquisition of Mediobanca finalised in September 2025: the related items were consolidated line by line with reference to the income statement, including the corresponding net income under minority interests. Data for the first quarter of 2026 restated following the PPA process update. Notes: 1. Other Financial revenues include: dividends, trading/disposal/valuation/hedging of financial assets.
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153-4-47 186-95-121 156-156-156 218-187-195 230-221-222 232-232-232 51-51-51 254-0-0 Balance Sheet 40 Notes: 1. Other assets includes: cash and cash equivalents, derivatives assets, equity investments, tax assets, other assets. Other liabilities includes: financial liabilities held for cash trading, derivatives, provisions, tax liabilities, other liabilities. Total Assets1, €m Sep-25 Dec-25 Mar-26 Jun-26 Q/Q Loans to Central Banks 1,114 1,094 1,041 988 (5.1%) Loans to Banks 6,784 7,120 6,624 6,616 (0.1%) Loans to Customers 142,879 142,842 146,337 148,185 1.3% Securities Assets 45,898 46,543 48,533 50,070 3.2% Tangible and Intangible Assets 6,977 6,987 6,963 6,987 0.3% Other Assets 36,265 37,404 32,281 33,052 2.4% Total Assets 239,918 241,990 241,778 245,898 1.7% Total Liabilities1, €m Sep-25 Dec-25 Mar-26 Jun-26 Q/Q Deposit from Customers 121,635 121,164 120,823 121,434 0.5% Securities Issued 44,216 45,177 45,286 46,812 3.4% Deposits from Central Banks 8,575 10,030 7,070 9,872 39.6% Deposits from Banks 14,290 16,253 16,788 16,292 (3.0%) Other Liabilities 22,143 19,170 21,135 22,834 8.0% Group Net Equity 26,742 27,950 28,401 26,403 (7.0%) Non-controlling Interests 2,318 2,247 2,275 2,252 (1.0%) Total Liabilities 239,918 241,990 241,778 245,898 1.7%
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153-4-47 186-95-121 156-156-156 218-187-195 230-221-222 232-232-232 51-51-51 254-0-0 Lending & Direct Funding 41 Total Lending, €m Sep-25 Dec-25 Mar-26 Jun-26 Q/Q Current Accounts 5,958 5,397 5,739 5,765 0.4% Medium-long Term Loans 82,753 85,438 87,263 89,281 2.3% Other Forms of Lending 36,423 38,759 38,408 38,585 0.5% Reverse Repos 13,398 11,296 13,080 12,706 (2.9%) Impaired Loans 2,147 1,952 1,847 1,848 0.0% Total 140,679 142,842 146,337 148,185 1.3% Direct Funding, €m Sep-25 Dec-25 Mar-26 Jun-26 Q/Q Current Accounts 91,299 92,754 91,119 90,532 (0.6%) Time Deposits 16,996 16,703 16,802 18,684 11.2% Repos 9,857 8,728 8,636 8,400 (2.7%) Bonds 42,981 44,170 45,286 46,812 3.4% Other Forms of Direct Funding 4,101 3,986 4,267 3,818 (10.5%) Total 165,235 166,341 166,109 168,246 1.3%
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153-4-47 186-95-121 156-156-156 218-187-195 230-221-222 232-232-232 51-51-51 254-0-0 Focus on DTAs On and Off Balance Sheet DTAs, €bn 42 In 4Q-25, complete reassessment of €1.1bn TLCF DTA made possible by the tax consolidation of Mediobanca Current Italian fiscal regulations do not set any time limit to the use of tax loss carryforwards against the taxable income of subsequent years Convertible DTAs DTAs on Tax loss carryforwards Other non-convertible DTAs Total on balance sheet DTAs Sep-25 0.5 1.8 0.7 3.0 1.1 Dec-25 0.5 2.8 0.8 4.1 0.0 Mar-26 0.5 2.6 0.9 4.0 0.0DTAs not recorded in balance sheet Jun-26 0.5 2.5 0.8 3.8 0.0
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153-4-47 186-95-121 156-156-156 218-187-195 230-221-222 232-232-232 51-51-51 254-0-0 Italian Govies Portfolio Italian Govies Portfolio Breakdown1, €bn 43 Group banking book portfolio (AC + FVTOCI) at ~€15bn slightly decreased q/q maintaining a higher incidence of AC component, in line with strategy; credit spread sensitivity of the FVTOCI portfolio confirmed not relevant FVTPL portfolio slightly increased q/q with dynamics mainly driven by Group market making activity ~2.2 ~3.1FVTOCI Duration (years) (1.5) (1.2)FVTOCI Credit spread sensitivity (€m)(2) .Figures from operational data management system. Nominal value for govies at AC; net position for govies at FVTPL. Notes: 1. Banking book: Amortized cost portfolio + Financial assets FVTOCI.; 2. FVTOCI credit spread sensitivity: before tax, for 1bp increase in the BTP/Bund spread. 11.6 12.8 12.5 3.4 2.7 2.5 3.4 4.4 4.7 Dec-25 Mar-26 Jun-26 FVTPL FVTOCI AC 18.4 19.8 19.8 ~3.3 (1.2)
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153-4-47 186-95-121 156-156-156 218-187-195 230-221-222 232-232-232 51-51-51 254-0-0 Asset Quality Details Gross Exposure, €m 44Dec-25 figures recast considering Mediobanca NPE as POCI (Purchased or Originated Credit Impaired) with GBV equal to purchase price, which already includes the effects of credit deterioration and no impact on net exposures. NPE Coverage, % Type of guarantees, % Sep-25 Dec-25 Mar-26 Jun-26 Bad loans 1,293.5 1,162.9 1,097.7 1,075.0 Unlikely to pay loans 2,761.9 2,374.4 2,317.5 2,298.9 Past due loans 378.8 330.1 325.0 363.5 TOTAL GROSS EXPOSURES 4,434.2 3,867.4 3,740.2 3,737.4 Sep-25 Dec-25 Mar-26 Jun-26 Bad loans 65.2% 61.4% 60.7% 60.6% Unlikely to pay loans 44.9% 42.8% 45.0% 45.5% Past due loans 53.9% 56.1% 56.4% 52.9% TOTAL NPE COVERAGE 51.6% 49.5% 50.6% 50.6% Sep-25 Dec-25 Mar-26 Jun-26 Secured (RE) 38.1% 38.3% 36.8% 35.8% Secured (State) 18.7% 18.9% 20.4% 20.0% Unsecured 43.2% 42.8% 42.8% 44.2% TOTAL 100% 100% 100% 100%