Slides
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MILAN | NOVEMBER 6TH | 2025 3Q25 & 9M25 Results Presentation
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2 Disclaimer BPER Banca S.p.A., Head Office in Via San Carlo 8/20, Modena – Tax Code and Modena Companies Register No. 01153230360 – Company belonging to the BPER BANCA GROUP VAT, VAT No. 03830780361 – Share capital Euro 2,953,383,946.57 – ABI Code 5387.6 – Register of Banks No. 4932 – Member of the Interbank Deposit Guarantee Fund and of the National Guarantee Fund – Parent Company of the BPER Banca S.p.A. Banking Group – Register of Banking Groups No. 5387.6 – Tel. +39 059.2021111 – Telefax +39 059.2022033 – e-mail: servizio.clienti@bper.it – Certified e-mail (PEC): bper@pec.gruppobper.it – bper.it – group.bper.it The content of this document has a merely informative and provisional nature and is not to be construed as providing investment advice. The statements contained herein have not been independently verified. No representation or warranty, either express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness, correctness or reliability of the information contained herein. Neither the Company nor any of its representatives shall accept any liability whatsoever (whether in negligence or otherwise) arising in any way in relation to such information or in relation to any loss arising from its use or otherwise arising in connection with this document. By accessing these materials, you agree to be bound by the foregoing limitations. This document and the information contained herein do not constitute an offer to sell financial instruments or a solicitation of an offer to purchase financial instruments in the United States, Australia, Canada, or Japan, or in any other Country where such an offer or solicitation would be subject to authorization by local authorities or would otherwise be prohibited by law. This presentation contains certain forward-looking statements, projections, objectives, estimates and forecasts reflecting the BPER management’s current views with respect to certain 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 BPER Banca’s future financial position and results of operations, strategy, plans, objectives, goals and targets and future developments in the markets where BPER participates or is seeking to participate. 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 BPER Group’s ability to achieve its projected objectives or results is dependent on many factors which are outside management’s control. Actual results may differ materially from (and be more negative than) 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. All forward-looking statements included herein are based on information available to BPER as of the date hereof. BPER undertakes no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable law. All subsequent written and oral forward-looking statements attributable to BPER or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Figures included in the tables shown in this document may not add exactly due to rounding differences. ** * ** The Manager responsible for preparing the Company’s financial reports, Giovanni Tincani, declares, in accordance with art. 154-bis, para. 2, of the “Consolidated Financial Services Act” (Legislative Order No. 58/1998), that the accounting information contained in this document corresponds to documentary records, ledgers and accounting entries. ** * ** METHODOLOGICAL NOTE Throughout this presentation: "including BPSO" refers to figures with the contribution of BPSO into BPER from 1st July 2025; “excluding BPSO" refers to figures without the contribution of BPSO; “excluding Alba Leasing” refers to figures without Alba Leasing inclusion, following the signing of a binding agreement for the disposal of a 5.1% stake in the share capital of Alba Leasing S.p.A., which will allow BPER to reduce the shareholding owned by the BPER Group in Alba Leasing to 47.66% of its share capital, with consequent loss of control and accounting deconsolidation of Alba Leasing as early as from the financial report for the period ending 31 December 2025.
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3 Agenda B:Dynamic | Full Value 2027 B:Dynamic | Full Value 2027 Group results Group results Annexes Annexes Final remarks Final remarks Update on BPSO integration Update on BPSO integration Executive summary Executive summary
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4 86.7 88.9 125.9 120.1 116.6 165.8 164.1 186.9 248.3370.9 392.4 539.9 3Q23 3Q24 3Q25 Indirect Funding Deposits Customer Loans Outstanding shareholders’ remuneration sustained by robust business growth Customer Loans & TFAs €bn ~284 ~415 (1) Source: Bloomberg. (2) Total return measures an investment performance that includes both price changes and all cash distributions, such as dividends and interest, assuming they are reinvest. (3) Source: Company data. TBV refers to Tangible Book Value per Share, defined as: (Shareholders’ Equity - Intangible Assets) / Common Shares, at period end. (4) TFAs include Direct (Deposits) and Indirect (AuC, AuM and Life Insurance) Funding. TFAs(4) €bn ~540 0 2 4 6 8 10 12 Share price evolution(1) +278% ~4.0 ~18.5 BPSO tender offer completed “B:Dynamic | Full Value 2027” Public Exchange Offer on BPSO € Market cap.(1) €bn 2 Oct-23 30 Sept-25 Appointment of new Board & CEO Total Return(1)(2) 30 Sept-24 ~0.5x ~1.2xP/TBV(3)
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5 Net Profit Cost/Income CoR(3) RoTE(5) CET1 Ratio(6) LCR NSFR T otal Revenues Total Revenues at €4.6 bn and Net Profit at €1.5 bn, including BPSO €4.6 bn o.w. BPER excl. BPSO €4.2 bn (+2.1% 9M/9M) €1.5 bn o.w. BPER excl. BPSO €1.3 bn (+19.6% 9M/9M)(2) 24bps o.w. BPER excl. BPSO 34bps (-5bps 9M/9M) 46.0% o.w. BPER excl. BPSO 46.8% (-272bps 9M/9M)(4) 15.1% (15.7% excl. Alba Leasing)19.8% 132% (135% excl. Alba Leasing) 165% (173% excl. Alba Leasing) Core Revenues at €4.4 bn and Cost/Income Ratio at 46.0% in 9M25 Strong Asset Quality at the end of Sep-25 with a Cost of Risk(3) at 24bps Solid Balance Sheet and high Capital Ratios Organic Capital Generation excl. BPSO of 272bps in 9M25 Sound liquidity profile with short & long-term ratios well above regulatory thresholds 9M25Key Financial Highlights(1) 9M25 Net Profit at €1.5 bn Record Net Profit excluding BPSO at €1.3 bn (1) Including BPSO. (2) Net Profit adjustments of previous quarters are shown on slide 32 in Annex. (3) CoR annualised. (4) Cost/Income calculated on Operating Costs adjusted as shown on slide 32 in Annex. (5) RoTE calculated as: Net Profit / (Average Tangible Book Value - Minorities interests - AT1 - Dividends Accrued). (6) CET1 Ratio as at 30 September 2025 to be considered Phased-in on the basis of the new prudential supervisory framework entered into force as of 1 January 2025 (Basel IV) and calculated by including profit for the period for the portion not allocated to dividends, thus simulating, in advance, the effects of the ECB’s authorisation to include these profits in Own Funds pursuant to art. 26, para 2 of the CRR.
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6 309.3 388.5 412.9 296.3 442.9 460.5 425.0 Net Profit adj 457.3 266.9 412.9 265.6 442.9 460.5 425.0 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 Net Profit stated 9M25 9M/9M 3Q25 Q/Q Y/Y 9M25 3Q25 Total Revenues 4,216.4 +2.1% 1,364.4 -4.1% -0.5% 4,646.3 1,794.3 o/w NII 2,432.8 -3.6% 806.8 -0.9% -4.0% 2,704.3 1,078.3 o/w Net Commission Income 1,592.5 +6.0% 529.0 +1.3% +8.4% 1,709.7 646.2 Operating Costs (adjusted) -1,972.8 -3.5% -644.8 -2.4% -0.5% -2,135.7 -807.6 Net operat. Income (adjusted) 2,243.6 +7.6% 719.7 -5.6% -0.4% 2,510.5 986.7 LLPs -230.8 -11.1% -88.1 +21.9% +11.7% -227.7 -85.0 Profit before tax (adjusted) 1,994.7 +17.9% 626.0 -9.9% +0.2% 2,250.6 881.9 Net Profit (adjusted) 1,328.4 +19.6% 425.0 -7.7% +2.9% 1,478.6 575.1 Net Profit (stated) 1,328.4 +16.8% 425.0 -7.7% +2.9% 1,478.6 575.1 Core Revenues 3Q25 incl. BPSO Net Profit stated vs adjusted(€m)P&L Key Figures (€m) 9M record Net Profit at €1.3 bn, excl. BPSO, supported by strong commissions growth and continued cost efficiency Note: All P&L adjustments are shown on slide 32 in Annex. BPER incl. BPSO Net Profit 575.1BPER excl. BPSO BPER excl. BPSO
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7 FY25 BPER Guidance strengthened by 6-month BPSO contribution (1) Operating Costs, C/I and Net Profit are adjusted according to slide 32 in Annex. (2) Cost/Income excludes BPER/BPSO integration costs. (3) CoR annualised. (4) CET1 Ratio as at 30 September 2025 to be considered Phased-in on the basis of the new prudential supervisory framework entered into force as of 1 January 2025 (Basel IV) and calculated by including profit for the period for the portion not allocated to dividends, thus simulating, in advance, the effects of the ECB’s authorisation to include these profits in Own Funds pursuant to art. 26, para 2 of the CRR. (5) CET1 Ratio calculated including expected additional taxes on Italian banks, BPER/BPSO integration costs and the total return swap on 9.99% of BPER shares. Total Revenues o.w. Net Inter. Income Op. Costs (excl. D&As) Cost of Risk(3) Net Profit CET1 Ratio o.w. Net Comm. Income Cost/Income RoTE 9M25 €4.2 bn €2.4 bn €1.7 bn 34bps €1.3 bn €1.6 bn 46.8% FY24 €5.6 bn €2.1 bn 36bps €1.4 bn(1) 16.9%(1) 15.8% €3.4 bn €2.5 bn(1) 50.3%(1) FY25 Guidance ~€6.4 bn <35bps >14.5%(5) <48%(2) 9M25 €4.6 bn €2.7 bn €1.9 bn 24bps €1.5 bn 15.1%(4) 19.8% €1.7 bn 46.0% FY25 Guidance vs FY24 ~€5.5 bn Up mid-single digit <40bps Down mid-single digit ~50% BPER excluding BPSO BPER including BPSO
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8 Agenda Annexes Annexes Final remarks Final remarks B:Dynamic | Full Value 2027 B:Dynamic | Full Value 2027 Group results Group results Update on BPSO integration Update on BPSO integration Executive summary Executive summary
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9 “B:Dynamic | Full Value 2027” on track (BPER excluding BPSO) KEY HIGHLIGHTS Unleash our clients’ full- value Complete the modernization of our Bank Capture our latent economies of scale Leverage our strong balance sheet in Commissions 2027E vs 2024E +12% in Operating Costs(1) 2027E vs 2024E -7% CET1 Ratio >14.5% Technology, Security & AI IT CapEx in Business Plan horizon ~€650m Organization & People FTEs empowered by the up-skilling factory ~30% ESG commitment position in main ESG Ratings(2) Leading 100% Business Plan initiatives launched Pillar 1 Pillar 2 Pillar 3 Pillar 4 (1) Calculated on Operating Costs, excluding Depreciation and Amortizations. (2) Details on slide 37 in Annex. Pillar 1 ▪ Continued growth in new lending with an increase of 20.0% 9M/9M (€14.7 bn in 9M25) ▪ Continued positive evolution of Net Commissions, especially sustained by sound growth in “Wealth Management” fees up by 12.7% Y/Y, and in Bancassurance fees up by 17.5% Y/Y ▪ Consistent growth of the customer base Pillar 2 ▪ Ongoing enhancements in digital and remote channels, with new products and features launched, and 26% of new customers joining BPER through digital channels Pillar 3 ▪ Maintaining a conservative risk approach, also considering Basel IV impact ▪ Credit Automation for pre-selected Retail and Small Business customers is underway, resulting in an increase of automated credit approvals. A roadmap for 2026 has been defined, focusing on faster customer response, resource efficiency and solid credit quality Pillar 4 ▪ Technology, Security & AI: Group's data center rationalization process fully completed, with the adoption of AWS cloud services, ensuring data protection and business continuity whilst improving digital customer experience. Capex deployed according to the Plan and above €200 m in 9M25 ▪ ESG Commitment: c. €2.7 bn of new ESG lending in 9M25 ▪ Organization & People: over 3,700 colleagues already involved in BPER Academy & training paths
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10 Agenda Annexes Annexes Final remarks Final remarks B:Dynamic | Full Value 2027 B:Dynamic | Full Value 2027 Group results Group results Update on BPSO integration Update on BPSO integration Executive summary Executive summary
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11 4,129.1 4,216.4 9M24 9M25 4,646.3 9M25 incl. BPSO +2.1% 843.6 838.9 840.8 853.7 811.9 814.1 806.8 498.7 516.0 487.9 555.8 541.1 522.4 529.0 18.8 42.0 42.3 36.2 75.9 86.6 28.6 1,361.2 1,396.9 1,371.0 1,445.6 1,428.9 1,423.1 1,364.4 9.5% 9.6% 9.6% 9.5% 9.7% 9.8% 9.8% 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 0.0 200.0 400.0 600.0 800.0 1,000.0 1,200.0 1,400.0 1,600.0 1,800.0 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 NII Net Commission Income Div./Trad./Other Net Revenues/RWA Total Revenues (€m) KEY HIGHLIGHTS Total Revenues (quarterly) (€m) Q/Q key drivers (€m) (1) BPER EXCLUDING BPSO Total Revenues ▪ Increasing capital efficiency with Net revenues/RWA at c. 10% ▪ 3Q25 Total Revenues stood at €1.4bn (-4.1% Q/Q) mainly affected by dividends and trading seasonality Core Revenues ▪ 9M25 Core Revenues stable at €4.0 bn, driven by strong Net Commissions growth (+6.0% 9M/9M) thanks to AuM, Life Insurance, and Bancassurance products ▪ 9M25 Net Commission Income on Total Revenues increased to 37.8% from 37.3% in 1H25 and 36.4% in 9M24 ▪ 3Q25 Core Revenues stable Y/Y and Q/Q at €1.3 bn Dividends ▪ 9M25 Dividends at €52.1 m (+29.0% 9M/9M) BPER INCLUDING BPSO ▪ 3Q25 Core Revenues at €1.7 bn -7.3 +6.6 -58.0 2Q25 NII Net Comm. Income Div./Trad. /Other 3Q25 1,423.1 1,364.4 1,078.3 646.2 69.8 1,794.3 3Q25 incl. BPSO Note: All figures refer to BPER excluding BPSO, unless otherwise specified. (1) Net Revenues calculated as: Operating Income excluding Other Operating Exp./Income net of Provisions. Net Revenues considered cumulative for the period and annualised. RWAs considered point in time as the date of closing of the reporting period. In 1Q25, 2Q25 and 3Q25 RWAs exclude Basel IV effects. “3Q25 incl. BPSO” Net Revenues on RWAs excludes Alba Leasing and includes 9M25 BPSO contribution. Net Rev/RWA 9.1% Total Revenues excl. BPSO up by 2.1% 9M/9M mainly thanks to increasing contribution of Net Commissions
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12 2,523.2 2,432.8 9M24 9M25 -21.3 +10.8 +3.1 2Q25 Rates Volumes Non Commercial 3Q25 Commercial drivers(2) 843.6 838.9 840.8 853.7 811.9 814.1 806.8 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 -4.0% Y/Y 814.1 NII (quarterly) (€m) Q/Q key drivers(1) (€m) Commercial Rates(1) (%) Resilient NII performance in 3Q25 at €806.8 m, excl. BPSO KEY HIGHLIGHTS 4.7 4.7 4.6 4.4 4.2 4.0 3.8 0.9 0.9 0.8 0.7 0.6 0.4 0.4 3.9 3.8 3.6 3.0 2.6 2.1 2.0 3.8 3.7 3.7 3.7 3.6 3.5 3.4 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 Comm. Asset Comm. Liabilities Euribor 3M (avg) Spread 2,704.3 9M25 incl. BPSO 1,078.3 3Q25 incl. BPSO Note: All figures refer to BPER excluding BPSO, unless otherwise specified. (1) Managerial quarterly figures. (2) Commercial drivers include Ecobonus effects, almost flat Q/Q. Net Interest Income (€m) BPER EXCLUDING BPSO NII ▪ 9M25 NII stood at €2.4 bn with a reduction of 3.6% 9M/9M better than expected ▪ 3Q25 NII resilient at €806.8 m (-0.9% Q/Q), thanks to increasing average commercial volumes and treasury related actions Commercial Rates ▪ During the quarter, commercial spread narrowed affected by interest rates reduction NII Sensitivity ▪ Interest rate sensitivity (±100 bps) amounted to approx. €184 m in 3Q25, up from €150 m in 2Q25, mainly driven by the seasonal repricing of floating-rate assets and in line with 3Q24 trend BPER INCLUDING BPSO ▪ 3Q25 NII at €1.1 bn ▪ Interest Rates sensitivity: +/-100 bps equal to approx. €250 m in 3Q25 806.8 -3.6%
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13 9M24 % on Total 9M25 % on Total 9M/9M 3Q25 Q/Q Y/Y Wealth 624.3 41.5% 688.6 43.2% +10.3% 223.0 -1.0% +12.7% o/w AuC 48.8 3.3% 40.4 2.5% -17.4% 10.4 -20.1% +11.1% o/w AuM 470.6 31.3% 523.8 32.9% +11.3% 174.1 +2.8% +9.5% o/w Life Insur. & Others 104.8 7.0% 124.4 7.8% +18.7% 38.6 -10.3% +30.2% Bancassurance 71.1 4.7% 82.6 5.2% +16.3% 24.8 -21.0% +17.5% Banking services 807.3 53.7% 821.3 51.6% +1.7% 281.1 +5.9% +4.6% Total 1,502.7 100.0% 1,592.5 100.0% +6.0% 529.0 +1.3% +8.4% 498.7 516.0 487.9 555.8 541.1 522.4 529.0 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 +8.4% Y/Y Net Commission Income(1) (quarterly) (€m) Net Commission Income by category (€m) Continued solid performance of Net Commission Income up by 6.0% 9M/9M, excl. BPSO BPER EXCLUDING BPSO Net Commission Income ▪ 9M25 Net Commission Income up at €1.6 bn (+6.0% Y/Y), mainly driven by strong performance in AuM, Life Insurance, and Bancassurance products ▪ 3Q25 Net Commissions strongly up by 8.4% Y/Y , driven by Wealth Management products (+12.7% Y/Y) ▪ Higher Net Commission Income contribution on Total Revenues at 37.8% in 9M25 (37.3% in 1H25 and 36.4% in 9M24) ▪ Wealth Management fees up by 10.3% 9M/9M ▪ 9M25 Banking Services Fees confirmed as the main contributor to overall Net Commission Income at €821.3 m (+1.7% 9M/9M) mainly thanks to positive performance of structured finance & credit cards fees BPER INCLUDING BPSO ▪ 3Q25 Net Commission at €0.65 bn KEY HIGHLIGHTS Note: All figures refer to BPER excluding BPSO, unless otherwise specified. (1) Since 2Q24, Net Commission Income included “charges for payment services provided”. Other administrative expenses netted against recoveries of costs for services ancillary to lending. In the interest of comparability of results, similar reclassifications have been made for the comparative quarters. 1,502.7 1,592.5 9M24 9M25 1,709.7 9M25 incl. BPSO 646.2 3Q25 incl. BPSO Net Commission Income (€m) +6.0%
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14 -0.1 +4.6 +2.5 +0.2 2Q25 Deposits AuC AuM Life Insurance 3Q25 494.5 +5.3% Y/Y 118.1 117.6 116.6 118.1 117.4 120.8 120.7 91.4 91.4 95.0 95.7 92.3 96.0 100.6 67.3 68.6 70.8 71.5 72.1 74.1 76.6 21.4 21.2 21.1 21.0 21.2 21.3 21.5298.1 298.7 303.5 306.3 303.0 312.3 319.5 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 Deposits AuC AuM Life Insurance 312.3 319.5 Significant increase in TFAs at c. €320 bn since the launch of “B:Dynamic | Full Value 2027”, at €414 bn including BPSO TFAs (€bn) BPER EXCLUDING BPSO Deposits ▪ Stable Deposits at €120.7 bn at the end of September 2025 AuC & AuM ▪ AuC and AuM strongly increased over the quarter thanks to both positive net inflows and market effect: • AuC above €100 bn, up by €4.6 bn Q/Q, and • AuM at €76.6 bn, up by €2.5 bn Q/Q ▪ AuM net inflows were €0.4 bn in 3Q25 and €1.8 bn in 9M25 Life insurance ▪ Life Insurance at €21.5 bn, up by €0.2 bn Q/Q BPER INCLUDING BPSO ▪ TFAs at €414.0 bn with a well-balanced mix KEY HIGHLIGHTS Q/Q key drivers(1) (€bn) Note: All figures refer to BPER excluding BPSO, unless otherwise specified. (1) Managerial quarterly figures. 165.8 143.4 81.1 23.8 414.0 3Q25 incl. BPSO
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15 437.7 448.7 395.7 439.9 414.1 408.9 396.0 251.6 257.9 252.6 356.6 253.4 251.8 248.8 689.3 706.6 648.3 796.5 667.4 660.7 644.8 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 HR Costs Non-HR Costs 50.6% 50.6% 47.3% 52.7% 46.7% 46.4% 47.3% Cost/Income 49.5 46.8 9M24 9M25 2,044.2 1,972.8 480.2 327.4 807.6 3Q25 incl. BPSO 20.3 19.1 3Q24 3Q25 +26.5 -70.0 -19.7 9M24 CCNL Synergies Other 9M25 Attention to cost efficiency proven by cost reduction by 3.5% 9M/9M, excl. BPSO 1,218.9 1,282.1 Cost/Income(1) & Total Costs (quarterly) (€m) 9M/9M HR Costs key drivers(2) (€m) KEY HIGHLIGHTS C/I Ratio (%)(1) Total Costs (€m) BPER EXCLUDING BPSO Total Costs ▪ 9M25 Total Costs decreased by 3.5% 9M/9M to below €2.0 bn, with a lower Cost/Income Ratio at 46.8%, mainly driven by: • HR Costs down by 4.9% 9M/9M, mainly driven by organic turnover • Non-HR Costs decreased by 1.1% 9M/9M, mainly benefiting from lower consultancy costs ▪ 3Q25 Total Costs stood at €644.8 m (-2.4% Q/Q), confirming the continuous cost discipline focus. Cost/Income Ratio at 47.3% Headcount evolution ▪ Headcount at 19,144 at the end of September 2025 with a reduction of approximately 1,100, compared to September 2024 BPER INCLUDING BPSO ▪ 3Q25 Total Cost stood at €0.8 bn with a Cost/Income at 45.0% ▪ Headcount at 22,866 at the end of September 2025, excluding c. 260 headcount of Alba Leasing Headcount evolution (#, ‘000) ~-1.1 -0.5% Y/Y Note: All figures refer to BPER excluding BPSO, unless otherwise specified. Total Costs adjusted according to slide 32 in Annex. (1) C/I is calculated on Operating Costs adjusted as shown on slide 32 in Annex and excluding €34.3 m related to a software depreciation in 4Q24. (2) Managerial figures. (3) Excluding 263 headcount of Alba Leasing. 2,135.7 46.0 9M25 incl. BPSO 22.9 3Q25 incl. BPSO -272bps -3.5% Cost/Income 45.0% (3)
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16 259.7 230.8 85.0 3Q25 incl. BPSO 39 34 9M24 9M25 49.5% 48.6% 51.0% 48.8% 48.7% 49.8% 50.4% 72.3% 69.6% 66.5% 75.8% 74.2% 74.2% 73.9% 30.0% 28.1% 32.1% 33.6% 35.3% 37.1% 37.2% 54.2% 53.3% 54.4% 54.3% 54.2% 55.6% 56.3% 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 UTP Bad Loans Past Due Total NPE Coverage Ratio 95.0 85.9 78.8 63.2 70.5 72.3 88.1 43 39 35 28 31 31 38 - 5 10 15 20 25 30 35 40 45 50 0.0 20.0 40.0 60.0 80.0 100.0 120.0 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 LLPs Cost of Risk +3 bps Y/Y LLPs (€m) and CoR(1) (quarterly) (bps) NPE Coverage Ratio by Asset class BPER EXCLUDING BPSO Cost of Risk (CoR) ▪ In 9M25, CoR(1) at 34bps down by 5bps 9M/9M, thanks to improved asset quality dynamics ▪ In 3Q25, CoR(1) increased Q/Q due to a conservative approach Overlays ▪ 9M25 total cumulative overlays at €146.6 m, after a reallocation of €67.2 m Q/Q between provisioning categories keeping stable Performing Coverage Ratio at 0.63% Performing Loans Coverage Ratio ▪ 3Q25 Coverage Ratio on Performing Loans stable at a strong 0.63%, one of the highest level amongst Italian peers, thanks to the outstanding quality of the loan book NPE Coverage Ratio ▪ Total NPE Coverage Ratio up at 56.3% (+63bps Q/Q) mainly driven by increased UTP coverage (1) KEY HIGHLIGHTS Note: All figures refer to BPER excluding BPSO, unless otherwise specified. Following the BPER/BPSO combination, although measurement at fair value of the assets and liabilities acquired is still being completed, BPSO NPE portfolio was incorporated at its net value as a temporary estimate of the corresponding fair value (ref. IFRS 3). (1) CoR annualised. 227.7 24 9M25 incl. BPSO LLPs (€m) CoR(1) (bps) 50.0% 68.5% 44.7% 32.0% 3Q25 incl. BPSO -5 -11.1% CoR 27 9M25 sound CoR at 34bps, excl. BPSO. NPE Coverage Ratio increased to 56.3% amongst the highest in Italy
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17 1.5 1.7 1.6 1.6 1.7 1.6 1.7 0.7 0.7 0.7 0.5 0.6 0.6 0.70.2 0.2 0.1 0.1 0.1 0.1 0.12.3 2.5 2.5 2.2 2.4 2.4 2.5 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 Gross UTP Gross Bad Loans Gross Past Due 2.6% 2.8% 2.8% 2.4% 2.6% 2.5% 2.7% 1.2% 1.3% 1.3% 1.1% 1.2% 1.1% 1.2% 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 Gross NPE ratio Net NPE ratio Gross NPE stock (€bn) -0.8% Y/Y Sound Asset Quality, NPE Ratios among the lowest in Italy 77.9 79.9 79.6 80.9 81.3 84.3 83.1 8.8 7.9 8.2 8.2 7.2 7.4 7.5 86.6 87.8 87.7 89.1 88.5 91.6 90.6 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 Stage 2 Stage 1 Stage Classification (€bn) BPER EXCLUDING BPSO Gross NPE Stock ▪ Gross and Net NPE Ratios improved Y/Y Stage Classification ▪ Net Stage 2 Loans on Total Net Customers Loans stable at 8.2% in 3Q25, with a coverage ratio at 5.1% KEY HIGHLIGHTS Net Stage 2 Loans / Net Customer Loans (%) 10.0% 8.9% 9.2% 9.1% 8.1% 8.0% Gross and Net NPE Ratio 8.2% 2.0 0.8 0.2 3.0 3Q25 incl. BPSO Note: All figures refer to BPER excluding BPSO, unless otherwise specified. Following the BPER/BPSO combination, although measurement at fair value of the assets and liabilities acquired is still being completed, BPSO NPE portfolio was incorporated at its net value as a temporary estimate of the corresponding fair value (ref. IFRS 3). 1.2% 3Q25 incl. BPSO 2.3% 113.1 11.4 124.4 3Q25 incl. BPSO 9.0%
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18 -0.2 -0.3 -0.4 -0.1 2Q25 Active portf. Management Clients risk profile Business dynamics Others 3Q25 44.1 45.3 45.3 45.0 45.1 44.9 44.0 7.0 7.0 7.0 8.1 9.6 9.6 9.6 2.3 1.1 1.0 1.2 1.1 1.1 1.0 53.4 53.4 53.2 54.2 55.9 55.6 54.6 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 Credit Risk Operational Risk Other Risks BPER EXCLUDING BPSO ▪ At the end of September 2025, RWAs landed at €52.9 bn, excluding Basel IV impact ▪ 3Q25 positive credit RWA evolution, down by €0.9 bn Q/Q mainly thanks to the higher quality of the loan book and business dynamics BPER INCLUDING BPSO ▪ RWAs including BPSO at €79.6 bn, excluding Basel IV impact RWAs lower given high quality lending & business dynamics 55.6 54.6 RWAs(1) (€bn) KEY HIGHLIGHTS Q/Q key drivers (€bn) Note: All figures refer to BPER excluding BPSO, unless otherwise specified. (1) Other risks include CVA and Market risks. €52.9 bn excl. Basel IV impact 68.2 12.4 1.8 82.4 3Q25 incl. BPSO €79.6 bn excl. Basel IV impact
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19 494.5 659bps (€3.5 bn) 578bps (€3.1 bn) KEY HIGHLIGHTS CET1 Ratio at 15.1% and, excluding Alba Leasing, at 15.7% Q/Q key drivers (bps) Capital evolution MDA Buffer 14.9% 15.3% 15.8% 15.8% 15.8% 16.2% 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 690bps (€3.8 bn) Note: The capital ratios as at 30 September 2025 are to be considered Phased-in on the basis of the new prudential supervisory framework entered into force as of 1 January 2025 (Basel IV) and are calculated by including profit for the period for the portion not allocated to dividends, thus simulating, in advance, the effects of the ECB’s authorisation to include these profits in Own Funds pursuant to art. 26, para 2 of the CRR. In 3Q25, MDA threshold calculated by applying the updated Pillar 2 Requirement communicated by the ECB on 09 October 2025. (1) Organic Capital Generation calculated as stated Net Profit including release on DTA from tax loss carry forward contribution and RWAs dynamic. 3Q25 incl. BPSO 503bps (€4.1 bn) CET1 15.1% +103 -78 +743 -203 +80 -756 +1 2Q25 Net Profit Dividends Capital increase Goodwill Minorities RWA BPSO & Alba Leasing Others 3Q25 OCG excl. BPSO +73bps 15.1%16.2% 15.7% excl. Alba Leasing BPER EXCLUDING BPSO Organic Capital Generation (OCG)(1) ▪ OCG of €1.7 bn in 9M25 with an impact on CET1 Ratio of +272bps, supported by the positive income dynamics ▪ OCG of €604 m in 3Q25 with an impact on CET1 Ratio of +73bps BPER INCLUDING BPSO Quarterly key drivers ▪ CET1 Ratio at a strong 15.7% at the end of September 2025, already excluding Alba Leasing
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20 Balance sheet (€bn) BPER INCLUDING BPSO LCR and NSFR ▪ LCR stood at 165% at the end of September 2025. Excluding Alba Leasing, the ratio improves to 173% ▪ NSFR 132% at the end of September 2025. Excluding Alba Leasing, the ratio improves to 135% Balance Sheet dynamics ▪ At the end of September 2025, loan to deposits ratio at 76% post BSPO consolidation, stable compared to BPER ratio in 2Q25, remaining one of the lowest among Italian peers Loan to Depo Ratio 76.0% 128.1 11.1 11.0 34.9 19.7Other Assets Financial Assets at amortised Cost Cash and Cash balances Financial Assets at FV & Hedging Derivatives Loans 156.4 18.4 17.1 0.412.6Other liabilities Financial liabilities & Hedging Derivatives Equity and Equity Instruments Debt Securities Issued Deposits 124.4 2.2 1.5 139.3 3.5 13.5 Balance sheet: €204.8 bn Loans Breakdown Customers Institutional Repo Depo Breakdown Customers Institutional Repo KEY HIGHLIGHTS Robust Balance Sheet with a sound liquidity profile
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21 8.7 8.9 10.0 11.3 13.6 14.8 14.8 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 Duration(1) (years) 35.6% 36.1%Italian Gov. / Total Bonds (%) 38.9% +47.3% Y/Y BPER INCLUDING BPSO Italian Govies ▪ Italian Govies stood at €20.8 bn at the end of September 2025 ▪ This portfolio was 48.9% of the Total Bonds outstanding Duration ▪ Total Bond portfolio has a duration of 2.0 years at the end of September 2025 Yield ▪ The total financial portfolio has an average yield of 2.4%(2) in 3Q25 KEY HIGHLIGHTSItalian Government Bonds (€bn) 2.0 2.0 1.7 2.1 2.3 2.1 1.9 2.4 2.4 1.9 2.5 2.6 2.4 2.2 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 Total Bond Portfolio Italian Government Bond Portfolio Bond portfolio evolution and duration 41.9% 47.2% Note: All figures refer to BPER excluding BPSO, unless otherwise specified. Managerial figures. (1) Duration in years, hedging included. (2) Annualised. 49.5% 49.8% 20.8 3Q25 incl. BPSO 48.9% 2.0 3Q25 incl. BPSO 2.2
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22 6.7 1.4 4.2 0.2 0.9 1.1 0.2 2.3 12.0 2025 2026 beyond Wholesale Covered Bond Retail 1.2 1.9 0.5 1.6 1.5 1.1 0.9 0.4 0.2 3.6 3.8 1.8 FY23 FY24 9M25 Wholesale Covered Bond Retail BPER INCLUDING BPSO Bond issued and maturities ▪ Main wholesale issuances in 9M25 include a €0.5 bn Senior Non-Preferred Bond issued by BPER and a €0.5 bn covered bond issued by BPSO Rating Agencies ▪ BPER excluding BPSO: • Fitch upgraded BPER’s Outlook from Stable to Positive, in January 2025 • S&P Global upgraded BPER’s long-term rating from BBB- to BBB, in April 2025 • Moody’s upgraded BPER’s Outlook from Stable to Positive, in May 2025 • DBRS upgraded BPER’s long-term Deposits from BBB (high) to A (low), in October 2025 ▪ BPSO upgrades following announcement of the successful BPER voluntary offer: • Fitch upgraded BPSO’s Outlook from Stable to Positive, in July 2025 • S&P Global upgraded BPSO’s long-term rating from BBB- to BBB, in July 2025 • DBRS upgraded BPSO’s long-term Deposits from BBB (high) to A (low), in October 2025 Bond Issued(1) (€bn) Bond Maturities(1) (€bn) KEY HIGHLIGHTS Note: All figures refer to BPER including BPSO. Managerial figures shown in nominal amounts. (1) Excluding Tier 1 bonds. Rating Agency LT Issuer LT Deposits Outlook BBB (high) BBB (high) A (low) A (low) Stable Stable BBB- BBB- BBB BBB Positive Positive Baa3 Baa1 Positive BBB BBB Stable Stable All Rating Agencies improved credit profile in 9M25
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23 Agenda Annexes Annexes Final remarks Final remarks B:Dynamic | Full Value 2027 B:Dynamic | Full Value 2027 Group results Group results Update on BPSO integration Update on BPSO integration Executive summary Executive summary
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24 BPER and BPSO integration activities fully on track to target approximately mid-April ‘26 merger KEY ACTIVITIES 23 Workstreams launched ▪ Set up of a “Core” team dedicated to the integration ▪ Appointed BPSO’s new Board of Directors ▪ Completed 9M25 consolidated financial statements, including BPSO ▪ Completed HR interviews process with BPSO’s entire population ▪ Ongoing Group policies alignment ▪ Updated brand and logos for digital and offline channels ▪ Launched customer communication plan and welcome communications Governance & Organisation Business & Operations ▪ Approved target organizational model and target network footprint by BoD ▪ Reset of infra-group ATM withdrawal fees ▪ Ongoing prioritization of gaps identified between BPSO and BPER’s systems ▪ Ongoing product catalogue analysis ▪ Ongoing completion of IT migration analysis
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25 Annual synergies expected at ~€290m, to be fully achieved in 2027 Pre-tax annual synergies (€m) Revenues synergies Increase client share of wallet and cross-selling opportunities leveraging on shared product factories~100 Total synergies High confidence in achieving total synergies by 2027 given flawless track record~290 Cost synergies Integration costs expected at ~€400 m, expensed for 75% in 2025 and the remaining in 2026~190
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26 Progress update – Indicative timeline of the transaction BPER notice pursuant to Art. 102 CFA Release of all the Supervisory authorities’ prior authorizations Approval of the Offer Document by CONSOB Authorization from AGCM subject to the disposal of #6 branches (o/w 5 of BPER) within 10 months Offer acceptance period Reopening of terms of the Offer period Appointment of a new BoD for BPSO Approval of the merger plan for the incorporation of BPSO into BPER by the relevant BoDs and, in the following days, submission of the relevant application requests to the Supervisory Authorities Extraordinary Shareholders’ Meeting of BPER and BPSO in order to approve the merger plan Completion of integration Next Steps Status 6 Feb. ‘25 16 Jun. – 11 Jul. ’25 21 – 25 Jul. ’25 15 September ’25 End of May / Beginning of Jun. ’25 5 November ’25 2 Jul. ‘25 March ‘26 Approx. Mid-April ‘26
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27 Agenda Annexes Annexes Final remarks Final remarks B:Dynamic | Full Value 2027 B:Dynamic | Full Value 2027 Group results Group results Update on BPSO integration Update on BPSO integration Executive summary Executive summary
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28 Divisional Database in 9M25, excl. BPSO Retail Corporate Private & Wealth Manag. Tot. Indirect Deposits(3) €bn 198.7 o.w. Net Inter. Income €m 1,337 57 451 o.w. Net Comm. Income €m 989 298 296 Gross Performing Loans €bn 51.0 0.7 34.8 Direct Deposits €bn 77.4 5.4 18.3 RWAs €bn 15.0 0.9 24.1 Core Revenues(4) €m 2,338 355 768 Wealth Net Comm. Inc.(1)€m 689 Cost/Income(2) 60% 40% 29% Note: Provisional management data on the commercial perimeter. (1) Total Wealth Net Commission Income include all Group Business Units Wealth Net Commission Income. (2) Calculated for the Private & Wealth Management Division, excluding revenues relating to Arca SGR non-captive. (3) Including all Group Business Units Indirect Deposits. (4) Core Revenues include also Other Operating Income from Retail (€11.6 m), P&WM (€0.2 m) and Corporate (€21.5 m).
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29 Final Remarks Continuedbusiness growth thanks to the banking network commercial strength Asset quality amongst the best in Italy “B:Dynamic | Full Value 2027” acceleration thanks to BPSO business combination Robust capital. Strong Organic Generation at €1.7 bn in 9M25, excl. BPSO Outstanding BPER shareholders’ remuneration sustained by robust business BPER & BPSO integration activitiesfully on track to targetapprox.mid-April 2026
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30 Agenda Annexes Annexes Final remarks Final remarks B:Dynamic | Full Value 2027 B:Dynamic | Full Value 2027 Group results Group results Update on BPSO integration Update on BPSO integration Executive summary Executive summary
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31 Group P&L Note: in the present document, Operating Income and Total Revenues are synonyms, as are Core Revenues/Core Income and Operating Costs/Total Costs. P&L - (€m) 9M25 Stated 9M24 Stated Delta 9M/9M Delta 9M/9M (%) 3Q25 Stated = Adjusted Delta Q/Q (%) Delta Y/Y (%) Net interest income 2,704.3 2,523.2 181.1 7.2% 1,078.3 32.4% 28.3% Net commission income 1,709.7 1,502.7 207.0 13.8% 646.2 23.7% 32.4% Core Income 4,414.0 4,025.9 388.1 9.6% 1,724.5 29.0% 29.8% Dividends 54.2 40.4 13.8 34.1% 11.1 -72.0% 237.1% Gains on equity investments measured under the equity method 27.5 2.7 24.7 907.5% 15.2 116.8% 279.5% Net income from financial activities 57.6 3.4 54.1 -- 22.6 40.0% 430.4% Other operating expenses/income 93.1 56.6 36.5 64.4% 20.9 -12.0% -50.2% Operating Income 4,646.3 4,129.1 517.2 12.5% 1,794.3 26.1% 30.9% Staff costs -1,303.1 -1,455.8 152.7 -10.5% -480.2 17.4% 21.4% Other administrative expenses -584.5 -556.3 -28.2 5.1% -230.2 31.7% 28.5% Depreciations & Amortizations -248.0 -205.8 -42.2 20.5% -97.3 26.2% 32.2% Operating costs -2,135.7 -2,218.0 82.3 -3.7% -807.6 22.2% 24.6% Net Operating Income 2,510.5 1,911.1 599.5 31.4% 986.7 29.4% 36.5% Net impairment losses for credit risk -231.3 -254.2 22.9 -9.0% -88.6 23.6% 12.0% Operating Income net of LLPs 2,279.2 1,656.8 622.4 37.6% 898.0 30.0% 39.5% Net provisions for risks and charges -30.2 -31.0 0.8 -2.7% -15.4 -822.2% -22.8% Gain (Losses) on Investments 1.5 152.4 -150.9 -99.0% -0.7 -133.9% -164.0% Result from current operations 2,250.6 1,778.2 472.4 26.6% 881.9 26.9% 41.2% Contributions to systemic funds 0.0 -109.6 109.6 -100.0% 0.0 n.m. -100.0% Profit (Loss) before taxes 2,250.6 1,668.7 582.0 34.9% 881.9 26.9% 41.2% Taxes -722.0 -502.7 -219.3 43.6% -273.4 20.9% 36.8% Profit (Loss) after tax from discontinued operations 5.9 0.0 5.9 n.m. 5.9 n.m. n.m. Profit (Loss) for the period 1,534.4 1,165.9 368.5 31.6% 614.3 31.1% 44.6% Minority Interests -55.9 -28.9 -27.0 93.3% -39.3 385.2% 229.7% Profit (loss) for the period pertaining to the parent company 1,478.6 1,137.0 341.5 30.0% 575.1 24.9% 39.3%
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32 2024 Non-recurring P&L items Operat. Costs Gain/(Loss) on investments Tax effectsNon-recurring items 2024 1Q 2Q 4Q -€150.1 m +€2.1 mCapital gain on disposal of the NPE servicing platform +€173.8 m -€52.1 mCosts related to HR actions +€19.8 m -€5.9 mCosts related to HR actions DTAs on tax losses Write-off on investments +€64.2 m -€47.4m Net Profit -€148.0 m +€121.6 m +€13.9 m -€47.4m +€64.2 m
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33 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 Q/Q Chg YTD Y/Y Customer Loans 87.7 89.0 88.9 90.1 89.6 92.7 125.9 +35.8% +39.7% +41.7% Securities Portfolio 26.5 26.5 27.7 29.0 30.7 32.0 45.0 +40.3% +54.8% +62.1% Interbank Assets(1) 12.6 10.1 10.4 9.4 8.9 8.9 13.2 +47.9% +39.8% +26.2% PPE & Intangible Assets 3.2 3.2 3.2 3.2 3.2 3.2 4.9 +54.0% +51.8% +52.6% Other Assets(2) 10.1 10.6 9.7 8.8 9.6 7.7 15.9 +106.4% +81.0% +64.2% Total Assets 140.1 139.4 139.9 140.6 142.0 144.5 204.8 +41.7% +45.7% +46.4% Group Reclassified Balance Sheet Assets (€bn) Liabilities and Shareholders’ Equity (€bn) (1) Interbank Assets include Cash and cash equivalents and Loans to banks. (2) Other Assets include Hedging derivatives, Equity investments, Loans mandatorily measured at fair value and Other assets. (3) Other Liabilities include Financial liabilities held for trading, Hedging derivatives and Other liabilities. 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 Q/Q Chg YTD Y/Y Direct Deposits 118.1 117.6 116.6 118.1 117.4 120.8 165.8 +37.2% +40.3% +42.1% Interbank Liabilities 5.6 5.3 5.0 5.0 4.6 3.9 9.0 +129.0% +77.9% +79.5% Shareholders' Equity 10.5 10.4 10.8 11.6 12.0 11.6 17.1 +47.3% +48.2% +58.7% Other Liabilities (3) 5.8 6.1 7.5 5.9 8.0 8.1 13.0 +59.4% +121.3% +72.8% Total Liabilities and Shareholders' Equity 140.1 139.4 139.9 140.6 142.0 144.5 204.8 +41.7% +45.7% +46.4%
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34 Asset Quality Breakdown Note: customer loans excluding customer debt securities. Absolute and percentage changes Q/Q, Y/Y, and YTD are calculated with respect to stated figures. Gross exposures (€m) B/D B/D B/D B/D B/D B/D B/D B/D Abs. Chg Abs. Chg Abs. Chg Non Performing Exposures (NPEs) 2,336 2.6% 2,513 2.8% 2,525 2.8% 2,212 2.4% 2,387 2.6% 2,382 2.5% 2,504 2.7% 2,982 2.3% 600 25.2% 457 18.1% 770 34.8% Bad loans 661 0.7% 710 0.8% 737 0.8% 517 0.6% 578 0.6% 638 0.7% 697 0.7% 766 0.6% 128 20.2% 29 4.0% 249 48.4% Unlikely to pay loans 1,463 1.6% 1,653 1.8% 1,644 1.8% 1,573 1.7% 1,689 1.8% 1,613 1.7% 1,675 1.8% 2,022 1.6% 409 25.3% 378 23.0% 449 28.5% Past due loans 213 0.2% 150 0.2% 144 0.2% 122 0.1% 120 0.1% 131 0.1% 132 0.1% 194 0.2% 63 48.3% 50 35.2% 72 58.6% Gross performing loans 87,272 97.4% 88,427 97.2% 88,377 97.2% 89,747 97.6% 89,100 97.4% 92,226 97.5% 91,184 97.3% 125,306 97.7% 33,080 35.9% 36,929 41.8% 35,559 39.6% Total gross exposures 89,609 100.0% 90,940 100.0% 90,902 100.0% 91,959 100.0% 91,487 100.0% 94,608 100.0% 93,688 100.0% 128,288 100.0% 33,680 35.6% 37,386 41.1% 36,329 39.5% Adjustments to loans (€m) coverage coverage coverage coverage coverage coverage coverage coverage Abs. Chg Abs. Chg Abs. Chg Adjustments to NPEs 1,266 54.2% 1,339 53.3% 1,375 54.4% 1,201 54.3% 1,294 54.2% 1,325 55.6% 1,408 56.3% 1,491 50.0% 166 12.6% 116 8.5% 290 24.2% Bad loans 478 72.3% 494 69.6% 490 66.5% 392 75.8% 429 74.2% 473 74.2% 515 73.9% 525 68.5% 52 11.0% 35 7.2% 133 34.1% Unlikely to pay loans 724 49.5% 803 48.6% 839 51.0% 768 48.8% 823 48.7% 803 49.8% 844 50.4% 904 44.7% 101 12.6% 65 7.8% 136 17.8% Past due loans 64 30.0% 42 28.1% 46 32.1% 41 33.6% 42 35.3% 49 37.1% 49 37.1% 62 32.0% 13 27.7% 16 34.6% 21 50.7% Adjustments to performing loans 634 0.7% 638 0.7% 649 0.7% 622 0.7% 594 0.7% 582 0.6% 578 0.6% 869 0.7% 287 49.2% 220 33.8% 247 39.6% Total adjustments 1,900 2.1% 1,977 2.2% 2,024 2.2% 1,823 2.0% 1,888 2.1% 1,907 2.0% 1,986 2.1% 2,360 1.8% 453 23.8% 336 16.6% 537 29.5% Net exposures (€m) B/D B/D B/D B/D B/D B/D B/D B/D Abs. Chg Abs. Chg Abs. Chg Non Performing Exposures (NPEs) 1,071 1.2% 1,174 1.3% 1,150 1.3% 1,011 1.1% 1,093 1.2% 1,057 1.1% 1,096 1.2% 1,491 1.2% 434 41.1% 341 29.6% 480 47.4% Bad loans 183 0.2% 216 0.2% 247 0.3% 125 0.1% 149 0.2% 165 0.2% 182 0.2% 241 0.2% 76 46.6% -6 -2.3% 116 93.2% Unlikely to pay loans 739 0.8% 850 1.0% 805 0.9% 805 0.9% 866 1.0% 810 0.9% 831 0.9% 1,118 0.9% 308 38.0% 313 38.7% 313 38.8% Past due loans 149 0.2% 108 0.1% 98 0.1% 81 0.1% 78 0.1% 82 0.1% 83 0.1% 132 0.1% 50 60.4% 34 35.4% 51 62.7% Net performing loans 86,638 98.8% 87,788 98.7% 87,728 98.7% 89,125 98.9% 88,506 98.8% 91,644 98.9% 90,606 98.8% 124,437 98.8% 32,793 35.8% 36,709 41.8% 35,312 39.6% Total net exposures 87,709 100.0% 88,962 100.0% 88,878 100.0% 90,136 100.0% 89,599 100.0% 92,701 100.0% 91,702 100.0% 125,928 100.0% 33,227 35.8% 37,050 41.7% 35,792 39.7% 3Q25 incl. BPSO 3Q25 incl. BPSO 2Q25 2Q25 2Q25 3Q25 excl. BPSO 3Q25 excl. BPSO 3Q25 excl. BPSO 3Q25 incl. BPSO YTD YTD YTDQ/Q Q/Q Q/Q Y/Y Y/Y Y/Y 1Q25 1Q25 1Q25 2Q24 2Q24 3Q24 4Q24 3Q24 2Q24 3Q24 4Q24 4Q241Q24 1Q24 1Q24
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35 Financial Assets: Highlights Govies Geographical Breakdown (%) 0.0 0.2 1.3 13.1 FY25 FY26 FY27 > 2027 0.4 1.7 3.5 24.1 FY25 FY26 FY27 > 2027 Bonds PTF Geographical Breakdown (%) Italy 54.8% France 12.8% Germany 5.9% Spain 4.4% Other 22.2% Bonds PTF Maturities (1) (€bn) Italian Govies Maturities (1) (€bn) Italy 77.6% France 5.7% Spain 5.5% USA 3.9% Other 7.3% Note: All figures refer to BPER excluding BPSO. Managerial figures. (1) Nominal amounts.
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36 Commercial dynamics: loans and deposits evolution 59.5% 59.8% 59.2% 59.0% 58.3% 57.6% 59.7% 17.9% 17.9% 18.2% 18.4% 19.1% 20.1% 18.2% 12.4% 12.3% 12.2% 12.1% 12.1% 11.8% 9.0% 10.1% 10.1% 10.3% 10.5% 10.5% 10.5% 13.2% 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 incl. BPSO Northern Italy Centre Italy Southern Italy Islands & Foreign countries 87.7 88.989.0 90.1 55.4% 55.1% 54.1% 54.7% 52.0% 51.1% 52.7% 17.0% 16.8% 17.2% 16.8% 19.8% 20.7% 23.6% 14.5% 14.7% 14.9% 14.8% 14.5% 14.5% 10.8% 13.1% 13.4% 13.8% 13.7% 13.7% 13.7% 13.0% 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 incl. BPSO Northern Italy Centre Italy Southern Italy Islands & Foreign countries 103.8 104.4 102.7 104.3 103.8 Commercial deposits by geography (€bn)Commercial loans by geography (€bn) Note: All figures refer to BPER excluding BPSO, unless otherwise specified. Managerial breakdown figures. 92.789.6 107.4 147.4125.9
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37 ESG focus Environmental ▪ 100% use of electricity from renewable sources ▪ About €2.7 bn of new ESG Lending in 9M25 ▪ €1 bn of two Green Bonds issued in 2024 ▪ Published NZBA targets for most significant sectors Social ▪ Implementation of the BPER’s “Bene Comune” Service supporting Third Sector entities and Impact lending ▪ Top Employer Italia 2025 ▪ IDEM Gender equality certification ▪ UNI/PDR 125:2022 Gender equality certification ▪ Member of Principles for Responsible Banking – set PRB targets for financial inclusion Governance ▪ Included by S&P Global in the “Sustainability Yearbook 2025” ▪ Included in the MIB ESG Index ▪ Included in FTSE4Good Index ▪ Weight of ESG KPIs: 20% for LTI and 15% for MBO – Strategic scorecard ▪ D&I: 40% women in the BoD ▪ D&I: implementation of a 3Y operational plan for D&I enhancement TOP ESG RATING 63 CSA: 77 Note: All figures refer to BPER excluding BPSO.
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38 Dummy figures Contacts for Investors and Financial Analysts Sara Viglietti Investor Relations sara.viglietti@bper.it Maria Accarrino Investor Relations maria.accarrino@bper.it Ilaria Picelli Investor Relations ilaria.picelli@bper.it Chiara Leonelli Investor Relations chiara.leonelli@bper.it Federico Febbraro Investor Relations federico.febbraro@bper.it Nicola Sponghi Head of Investor Relations nicola.sponghi@bper.it BPER Head Office: Via San Carlo 8/20, Modena Investor.relations@bper.it bper.it – group.bper.it