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BPER : Teleborsa : distribution and commercial use strictly prohibited emarket sdir storage - CERTIFIED 2Q26 GROUP 1H26 RESULTS ACCELERATION BEYOND B : DYNAMIC FULL VALUE 2027 MILAN | AUGUST 6TH | 2026
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Sfondo slide Grafici Sfondoslide Scritte Grafici Scritte Scritte Note pagina €bn Simbolo nuovo Mappa Italia 51% Tabella target 1 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 3 , 136 , 702 , 715 . 30 – 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 This presentation is for information purposes only and does not constitute, nor is it intended to constitute, a recommendation, an offer or a solicitation to invest, nor does it constitute financial, legal, tax or any other form of advice . The information contained in this document has been prepared on the basis of data and information available as at the date of its publication and has not been independently verified . Although BPER Banca considers this information to be accurate and reliable, no warranty, either express or implied, is made as to its completeness, accuracy or suitability for any particular purpose . The information contained herein should therefore be assessed with due attention and in its overall context . Neither BPER nor any of its representatives shall accept any liability whatsoever arising in any way in relation to such information, without prejudice to the limitations provided for by the applicable legislation . This presentation contains certain forward - looking statements, projections, objectives, estimates and forecasts reflecting BPER management’s current assessments and expectations regarding future events . Such statements are generally identifiable by the use of the words “may”, “will”, “should”, “plan”, “expect”, “anticipate”, “estimate”, “believe”, “intend”, “project”, “objective” or “target”, or terms with a similar meaning . These forward - looking statements include, but are not limited to, all statements other than statements of historical facts, including, without limitation, those regarding BPER’s future financial position and results of operations, strategy, plans, objectives and future developments in the markets in which BPER operates or intends to operate, and are by their nature subject to risks, uncertainties and other factors, many of which are beyond the control of BPER Banca . Actual results may therefore differ materially from those projected or implied in the forward - looking statements . The forward - looking statements included in this document are based on information available to BPER as at the date of this presentation and on the assumptions deemed reasonable at such time . BPER undertakes no obligation to publicly update or revise any forward - looking information, except as required by applicable legislation . 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 Decree No . 58 of 24 February 1998 ), that the accounting information contained in this document corresponds to documentary records, ledgers and accounting entries . ** * ** METHODOLOGICAL NOTE Throughout this presentation : “excl . TRS & other mkt effects”, “excl . TRS” refer to managerial figures . FY 25 figures restated – where necessary and material – considering changes in the scope of consolidation following the inclusion of BPSO, thus simulating full - year consolidation, with BPSO included on a pro forma basis for 1 H 25 .
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2 Accelerating beyond B:DYNAMIC FULL VALUE 2027 Scalable platform for enhanced growth Our outstanding technology, people, capabilities and capital create a scalable platform well positioned to capture organic and inorganic opportunities Acceleration beyond B:Dynamic Raising B:Dynamic ambition through strategic initiatives in corporate banking, private banking, bancassurance, digital productivity and service excellence Sustained value creation and attractive shareholder remuneration A ccelerated performance and profitability supporting a shareholder remuneration of 85+% through a combination of cash dividends and share buy - backs over 2025 - 2028 B:Dynamic over-delivering on promises Performance in the first half of the Business Plan exceeding the ambitious targets set in 2024 A record semester Record financial performance and strong business momentum in 1H2026 also thanks to the acquisition of BPSO 3 4 5 1 2
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3 1. B:Dynamic over-delivering on promises An outstanding value creation story Share price2 , €Net income, €bn CoR , bps ~36 ~34 P/TBV4~27 1.720.49 C/I , % ~50% ~47% Market cap2 € bn 29.44.4~45% 0 5 10 15 01 /24 Appointment of new Board & CEO Public Exchange Offer on BPSO BPSO tender offer completed Total Return 2,3 +464% vs +256% peers2,5 2024 2025 ~1.4 ~1.8 2025 incl. BPSO 6 ~2.4 “B:Dynamic | Full Value 2027 01 /2 5 07 /26 BPER excl. BPSO 1 +29% 1 . Net Income adjusted, B PER standalone perimeter excluding BPSO | 2 . Source : Bloomberg, data as of 29 / 12 / 2023 , 31 / 07 / 2026 | 3 . Total return - Customer Total Return on Holdings - measures an investment’s performance by combining price appreciation and all cash distributions (e . g . , dividends and interest), assuming those distributions are reinvested | 4 . Source : Visible Alpha, data as of 29 / 12 / 2023 , 31 / 07 / 2026 . TBV refers to Tangible Book Value per Share, defined as : (Shareholders’ Equity - Intangible Assets) / Common Shares, at period end | 5 . Peers calculated as the arithmetic average of the "Total Return - Customer Total Return on Holdings" index for ISP, UCG, BPM, MPS, Mediobanca and Banca Generali | 6 . Net Income adjusted . 2025 incl . BPSO refers to restated numbers for FY 2025 - here and in the rest of the presentation
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4 Overperformance on shareholder remuneration while successfully completing BPSO integration Cumulative Distribution 2025-1H261, €bn People ~3,500 colleagues fully onboarded on new service models and operational procedures Synergies >25% captured by end of 2026 thanks to our strong integration capabilities Integration IT migration successfully completed on April 20 th with all ~1 m clients migrated to BPER’s platform in 7 months 1. B:Dynamic over-delivering on promises …while successfully completing the BPSO integration Overperformance on shareholder remuneration despite a challenging environment… &vs. €3.2 bn on a stand - alone basis committed for 2025-2027 in B:Dynamic Full Value 2027 2025 dividend pay - out 1H26 pro - forma dividend pay - out 3 ~0.75 Authorized share buy - back 4 Total ~1.4 ~1.0 ~3.1 Reaching €>4.0 bn when including 2024 dividend pay - out 2 1 . 1 H 2026 accrued dividend ( 1 H 2026 net income multiplied by 2026 payout ratio), subject to Board of Directors approval | 2 . Based on dividend pay - out and share buy - back with reference to accrual period, excl . BPSO | 3 . Dividend accrued on 1 H 2026 net profit | 4 . Share buyback approved by ECB but not yet distributed for a maximum aggregate consideration of € 750 m Note : Numbers may not add up exactly due to rounding
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5 B:Dynamic is over-delivering across all pillars already in the first year 1. B:Dynamic over-delivering on promises Unleash our clients’ full-value Complete the modernization of our Bank Capture our latent economies of scale Leverage our strong balance sheet in Commissions vs 2024 (+12% target in 2027) +5.0% in Operating costs2 vs 2024 (-7% target in 2027) -5.2% CET1 ratio3 (>14.5% target in 2027) 15.0% Technology, Security & AI ~€230 m Organization & People FTEs empowered by the up-skilling factory (~30% target in 2027) ~21% ESG commitment Leading IT CapEx in Business Plan horizon (~€650 m in Business Plan horizon) position in main ESG ratings (confirmed Business Plan ambition) BPER stand - alone as of FY2025 1 1 . BPER excl . BPSO | 2 . Calculated on total operating costs, excluding depreciation and amortization | 3 . As of 30 / 06 / 2026
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6 Adj. Net Profit1 Cost/Income CoR2 RoTE3 CET1 Ratio4 LCR NSFR Total Revenues Delivering best half-year and quarterly performance ever €3.9 bn +4.5% H/H €1.3 bn +14.7% H/H 28bps flat H/H 41.4% -361bps H/H 15.0%20.6% 17.0% Mar-26 132% 131% Mar-26 162% 157% Mar-26 Core Revenues at €3.6 bn and improving Cost/Income Ratio at 41.4% in 1H26 Strong Asset Quality at the end of Jun - 26 with a flat Cost of Risk at 28bps Solid Balance Sheet and high Capital Ratios, Organic Capital Generation of €1.3 bn in 1H26 Sound liquidity profile with short & long - term ratios, well above regulatory thresholds 1H26 Key Financial Highlights 1H26 Adj. Net Profit1 at €1,326 m thanks to Group positive commercial dynamics 1 . Net Profit adjustments are shown on slide 36 in Annex . | 2 . CoR annualized . | 3 . RoTE calculated as : Annualized Adjusted Net Profit / (Average Tangible Book Value - Minorities interests - AT 1 - Dividends Accrued) . | 4 . CET 1 Ratio as at 30 June 2026 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 +8.5% H/H, excl. TRS +1.5% H/H, excl. TRS 19.6%, excl. TRS - 239bps H/H, excl. TRS 2. A record semester
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7 591.0 564.6 575.1 621.6 549.0 776.6 Net Profit adj 591.0 564.6 575.1 339.9 518.5 758.1 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Net Profit stated Net Profit stated vs adjusted (€m) €598.5 m, excl. TRS & other mkt effects €598.1 m, excl. TRS & other mkt effects 1H26 H/H 2Q26 Q/Q Y/Y Total Revenues 3,876.2 +4.5% 2,102.1 +18.5% +14.3% o/w NII 2,211.8 +1.4% 1,124.3 +3.4% +2.4% o/w Net Commission Income 1,353.4 +4.8% 672.6 -1.2% +5.9% Operating Costs 1,605.3 -3.9% 805.4 +0.7% -4.2% Net operat. Income 2,270.9 +11.4% 1,296.7 +33.1% +30.0% LLPs -180.2 +3.3% -94.6 +10.4% +18.2% Profit before tax (adjusted) 2,101.7 +15.0% 1,216.5 +37.4% +35.2% Net Profit (adjusted) 1,325.6 +14.7% 776.6 +41.5% +37.6% Net Profit (stated) 1,276.6 +10.5% 758.1 +46.2% +34.3% Core Revenues P&L Key Figures (€m) Record 2Q Net Profit driven by strong commercial dynamics and continued cost discipline Note : All P&L adjustments are shown on slide 36 in Annex + 3 .7% Q/Q, +4.3% Y/Y, excl. TRS & other mkt effects + 9 . 6 % Q/Q, +16.1% Y/Y, excl. TRS & other mkt effects +6.0% Q/Q, +11.5% Y/Y , excl. TRS & other mkt effects €655.6 m, excl. TRS & other mkt effects 2. A record semester
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8 Full year 2026 Guidance improved, subject to macro and market conditions Total Revenues o.w. Net Inter. Income Op. Costs (excl. D&As) Cost of Risk Net Profit2 CET1 Ratio o.w. Net Comm. Income Cost/Income RoTE2 €3.9 bn €2.2 bn €1.4 bn 28bps1 €1.3 bn €1.35 bn 41.4% €7.4 bn €2.6 bn 27bps €2.35 bn 20.0% 14.8%3 €4.4 bn €3.0 bn 45.1% <40bps <45% ~14.5%15.0%4 20.6% Up mid-single digit Up low-single digit Note : All P&L adjustments are shown on slide 36 in Annex . 1 . CoR annualised . | 2 . Net Profit is adjusted according to slide 36 in Annex . FY 25 RoTE shown on a reported basis . | 3 . FY 25 CET 1 Ratio shown on a reported basis . | 4 . CET 1 Ratio as of 30 June 2026 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 . CET 1 Ratio includes share buyback effect Improved Improved 1H26FY25 restated FY26 Guidancevs FY25 restated 2. A record semester
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9 +36.8 - 8.3 +299.5 1Q26 NII Net Comm. Income Div./Trad. /Other 2Q26 1,083.9 1,097.7 1,078.3 1,111.0 1,087.5 1,124.3 656.7 635.4 646.2 695.7 680.9 672.6 129.8 105.3 69.8 136.4 5.7 305.2 1,870.3 1,838.5 1,794.3 1,943.0 1,774.1 2,102.1 8.7% 8.7% 9.1% 9.0% 8.7% 9.5% 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 0.0 500.0 1,000.0 1,500.0 2,000.0 2,500.0 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 NII Net Commission Income Div./Trad./Other Net Revenues/RWA 3,708.7 3,876.2 1H25 1H26 Total Revenues (€m) KEY HIGHLIGHTS Q/Q key drivers (€m) 1 1,774.1 2,102.1 Core Revenues up by 2.6% at €3.6 bn, driven by record NII and robust Net Commissions Total Revenues ▪ Increasing capital efficiency with Net Revenues on RWAs at 9.2% in 2Q26 (excl. TRS) vs 8.7% in 2Q25 ▪ 1H26 Total Revenues stood at €3.9 bn (+1.5% H/H, excl. TRS), supported by solid Core Revenues and a positive contribution from Dividends ▪ 2Q26 Total Revenues at €2.1 bn (+3.7% Q/Q excl. TRS & other mkt effects) Core Revenues ▪ 1H26 Core Revenues at €3.6 bn (+2.6% H/H) driven by record NII and robust Net Commission Income (+4.8% H/H, mainly driven by AuM , Life Insurance and Bancassurance) ▪ 2Q26 Core Revenues up at €1.8 bn (+3.7% Y/Y) Dividends ▪ 1H26 Dividends at €34.4 m (+33.4% H/H) 9.0%, excl. TRS & other mkt effects Total Revenues (quarterly) (€m) +4.5% 9.2%, excl. TRS 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 . RWAs exclude Basel IV effects . Net Revenues on RWAs excludes Alba Leasing in 3 Q 25 . Excl . TRS and other mkt effect, limited to P&L impact 2. A record semester
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10 2,181.6 2,211.8 1H25 1H26 1,083.9 1,097.7 1,078.3 1,111.0 1,087.5 1,124.3 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 NII (quarterly) (€m) Q/Q key drivers1 (€m) Commercial Rates1 (%) Record NII in 2Q26 (+3.4% Q/Q), mainly supported by positive commercial dynamics KEY HIGHLIGHTS 3.7 3.7 3.7 3.8 0.5 0.5 0.5 0.5 2.0 2.0 2.1 2.2 3.2 3.2 3.3 3.3 3Q25 4Q25 1Q26 2Q26 Comm. Asset Comm. Liabilities Euribor 3M (avg) Spread Net Interest Income (€m) 1 . Managerial quarterly figures . | 2 . Commercial drivers include Ecobonus effects, down Q/Q +1.8 +11.2 +10.6 +13.2 1Q26 Rates Volumes Days effect Non Commercial 2Q26 Commer. drivers 2 +€13.0 m , excl. days effect 1,087.5 1,124.3 +1.4% NII ▪ 1H26 NII stood at €2.2 bn, up by +1.4% H/H ▪ 2Q26 NII at a record €1,124.3 m (+€36.8 m Q/Q), mainly driven by increasing average commercial volumes and positive dynamics from proprietary portfolio (+€9.8 m) ▪ Interest rates sensitivity ( ± 100 bps) at € 200 m Commercial Rates ▪ During the quarter, commercial spread slightly improved Q/Q +2.4% Y/Y 2. A record semester
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11 1,292.0 1,353.4 1H25 1H26 656.7 635.4 646.2 695.7 680.9 672.6 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Net Commission Income by category (€m) Net Commission Income up by 4.8% H/H, driven by Wealth Management and Bancassurance KEY HIGHLIGHTS Net Commission Income (€m) Net Commission Income ▪ 1H26 Net Commissions up by +4.8% H/H at €1.4 bn, thanks to commercial growth in Wealth Management (+10.3% H/H) and Bancassurance (+13.2% H/H) ▪ 2Q26 Net Commission Income at €672.6 m (+5.9% Y/Y), confirming the ongoing commitment on capital light business ▪ Net Commission Income contribution on Total Revenues at 35.9% in 1H26 (excl. TRS) compared to 34.8% in 1H25 ▪ 1H26 Wealth Management fees up by a strong +10.3% H/H, driven by AuM (+12.8% H/H) and Life Insurance (+6.3% H/H) ▪ 1H26 Banking Services fees confirmed as the main contributor to overall Net Commission Income at €0.7 bn (51.7% of total), mainly supported by financing activities Net Commission Income (quarterly) (€m) +4.8% 1H25 % on Total 1H26 % on Total H/H 2Q26 Q/Q Y/Y Wealth 529.1 41.0% 583.6 43.1% +10.3% 287.2 -3.1% +11.5% o/w AuC 50.7 3.9% 50.3 3.7% -0.8% 21.9 -23.1% -5.0% o/w AuM 381.2 29.5% 429.9 31.8% +12.8% 213.8 -1.1% +15.1% o/w Life Insur. & Others 97.2 7.5% 103.4 7.6% +6.3% 51.6 -0.4% +5.6% Bancassurance 62.0 4.8% 70.1 5.2% +13.2% 34.4 -3.9% +2.1% Banking services 701.0 54.3% 699.7 51.7% -0.2% 351.0 +0.7% +2.0% Total 1,292.0 100.0% 1,353.4 100.0% +4.8% 672.6 -1.2% +5.9% +5.9% Y/Y 2. A record semester
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12 +0.6 +6.4 +5.9 +0.4 1Q26 Deposits AuC AuM Life Insurance 2Q26 494.5 +4.4% Y/Y 161.0 165.6 165.8 168.7 166.5 167.1 133.6 138.9 143.4 147.7 139.0 145.4 76.0 78.1 81.1 81.9 81.2 87.1 23.4 23.6 23.8 24.0 24.4 24.7 393.9 406.3 414.0 422.2 411.1 424.3 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Deposits AuC AuM Life Insurance TFAs (€bn) Total Financial Assets ▪ TFAs strongly up by c. €18 bn Y/Y and c. €13 bn Q/Q Deposits ▪ Deposits almost stable Q/Q at €167.1 bn at the end of Jun - 26 (+€1.5 bn Y/Y) AuC & AuM ▪ AuC and AuM strongly increased by €15.4 bn Y/Y: • AuC increased at €145.4 bn, up by €6.4 bn Y/Y, and • AuM at €87.1 bn, up by €8.9 bn Y/Y ▪ Au M net inflows were €1.0 bn in 1H26 Life insurance ▪ Life Insurance increased at €24.7 bn, up by c. €1 bn Y/Y KEY HIGHLIGHTS Q/Q key drivers1 (€bn) 1 . Managerial quarterly figures Significant increase in TFAs 424.3 411.1 2. A record semester
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13 496.5 491.5 480.2 497.4 497.2 503.7 332.3 349.4 327.4 380.4 302.7 301.7 828.8 840.9 807.6 877.8 799.9 805.4 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 HR Costs Non-HR Costs 44.3% 45.7% 45.0% 45.2% 45.1% 38.3% Cost/Income 22.9 22.6 23.0 22.5 3Q25 4Q25 1Q26 2Q26 45.0 41.4 1H25 1H26 1,669.8 1,605.3 1H25 1H26 +13.7 - 47.8 +47.0 1H25 CCNL Synergies Other 1H26 1,000.9 988.0 Cost/Income & Total Costs (quarterly) (€m) H/H HR Costs key drivers1 (€m) KEY HIGHLIGHTS C/I Ratio (%) Total Costs (€m) Total Costs ▪ 1H26 Total Costs down by 3.9% H/H at €1.6 bn, with a lower Cost/Income Ratio at 41.4% (42.6% excl. TRS), which reflects: • HR Costs at €1.0 bn (+1.3% H /H) • Non - HR Costs at €604.5 m, down by €77.3 m H/H, thanks to continued focus on operational excellence initiatives ▪ 2Q26 Cost/Income Ratio at 38.3% (42.0%, excl. TRS & other mkt effects), down from 45.1% in 1Q26 Headcount evolution ▪ Headcount at c. 22,500 at the end of Jun - 26 with a decrease of c. 500 vs Mar - 26, mainly related to the exit of temporary workforce hired in 1Q26 to support BPSO integration Headcount evolution (#, ‘ 000 ) -4.2% Y/Y 1 . Managerial figures . | 2 . Excluding 263 headcount of Alba Leasing, deconsolidated in 4 Q 25 -361bps -3.9% Total Costs down by 3.9% thanks to continued focus on operational efficiency 2 2. A record semester
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14 27 28 1H25 1H26 174.5 180.2 1H25 1H26 NPE Coverage Ratio by asset class 94.5 80.0 85.0 86.2 85.6 94.6 30 25 27 27 27 29 - 5 10 15 20 25 30 50.0 60.0 70.0 80.0 90.0 100.0 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 LLPs Cost of Risk 42.2% 42.3% 44.7% 48.6% 47.8% 49.3% 68.6% 68.8% 68.5% 71.3% 71.7% 71.3% 30.3% 31.8% 32.0% 31.8% 30.9% 34.9% 47.3% 48.1% 50.0% 52.8% 52.8% 54.1% 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 UTP Bad Loans Past Due Total NPE Coverage Ratio +4 bps Y/Y LLPs (€m) and CoR1 (quarterly) (bps) 1 KEY HIGHLIGHTS Flat CoR at 28bps with NPE Coverage Ratio at 54.1%, amongst the highest in Italy 1 . CoR annualised LLPs (€m) CoR1 (bps) +3.3% flat 2. A record semester Cost of Risk (CoR) ▪ In 1H26, CoR 1 almost stable H/H at 28bps, thanks to continued improved asset quality dynamics Overlays ▪ 2Q26 total cumulative overlays at c.€230 m (+€52 m Q/Q) Performing Loans Coverage Ratio ▪ 2Q26 Coverage Ratio on Performing Loans at a strong 0.6%, one of the highest level amongst Italian peers Cost of Risk (CoR) ▪ 2Q26 CoR 1 at 29bps, almost flat Q/Q NPE Coverage Ratio ▪ Total Coverage Ratio improved at a strong 54.1% (c.130bps Q/Q)
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15 2.0 1.9 2.0 2.0 2.0 2.0 0.6 0.7 0.8 0.6 0.7 0.8 0.2 0.2 0.2 0.2 0.2 0.2 2.8 2.8 3.0 2.8 2.9 3.0 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Gross UTP Gross Bad Loans Gross Past Due 2.2% 2.1% 2.3% 2.1% 2.2% 2.3% 1.2% 1.1% 1.2% 1.0% 1.1% 1.1% 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Gross NPE ratio Net NPE ratio Sound Asset Quality with NPE Ratios among the lowest in Italy 112.5 116.0 113.1 116.0 115.9 118.1 10.8 11.1 11.4 11.4 11.6 10.2 123.3 127.1 124.4 127.4 127.4 128.3 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Stage 2 Stage 1 Gross NPE Stock ▪ Gross and Net NPE Ratios almost flat Q/Q at 2.3% and 1.1%, respectively Stage Classification ▪ Net Stage 2 Loans on Total Net Customers Loans improved at 7.9% in 2Q26, with a coverage ratio at 4.8% Net Stage 2 Loans / Net Customer Loans (%) 8.7% 8.6% 9.0% 8.8% KEY HIGHLIGHTS 9.0% Stage Classification (€bn) 7.9% Gross and Net NPE Ratio +7.3% Y/Y Gross NPE stock (€bn) 2. A record semester
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16 Strong CET1 Ratio at 15.0% with €1.3 bn of internal capital generation +96 - 70 - 94 +77 - 2 1Q26 OCG Distribution Share buyback Merger impact Others 2Q26 Capital evolution ▪ CET1 Ratio landed at 15.0% at the end of June - 26 thanks to positive contribution from organic profitability Organic Capital Generation (OCG)1 ▪ 1 H26 OCG at €1. 3 bn with an impact on CET1 Ratio of +163bps 494.5 Capital evolution MDA Buffer Note : The capital ratios as at 30 June 2026 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 . CET 1 Ratios shown on a reported basis . 1 . Organic Capital Generation calculated as stated Net Profit including release on DTA from tax loss carry forward contribution and RWAs dynamic 485bps (€3.9 bn) KEY HIGHLIGHTS 503bps (€4.1 bn) 15.1% 14.8% 14.9% 15.0% 3Q25 4Q25 1Q26 2Q26 15.0% 14.9% 489bps (€3.9 bn) 502bps (€4.0 bn) Q/Q key drivers (bps) 2. A record semester
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17 Scalable platform for enhanced growth Our outstanding technology, people, capabilities and capital create a scalable platform well positioned to capture organic and inorganic opportunities Acceleration beyond B:Dynamic Raising B:Dynamic ambition through strategic initiatives in corporate banking, private banking, bancassurance, digital productivity and service excellence Sustained value creation and attractive shareholder remuneration Accelerated performance and profitability supporting a shareholder remuneration of 85+% through a combination of cash dividends and share buy - backs over 2025 - 2028 B:Dynamic over-delivering on promises Performance in the first half of the Business Plan exceeding the ambitious targets set in 2024 A record semester Record financial performance and strong business momentum in 1H2026 also thanks to the acquisition of BPSO 3 4 5 1 2 Accelerating beyond B:DYNAMIC FULL VALUE 2027
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18 BPER: leading Italian player ready to capture further growth ~€87 bn ~€145 bn ~€167 bn ~€25 bn AuM AuC Customers deposits Life insurance 3rd Bank2 in Italy by TFA 3rd Bank in Italy by number branches 1st Bank in Lombardy, Liguria and Sardinia; 2 nd in Emilia Romagna by number branches 3. Scalable platform for enhanced growth 1,095 North 341 Center 514 South 3rd Bank2 in Italy by number of customers ~6 m clients ~€425 bn Total Financial Assets ~1,950 Branches in Italy ~0.1 ~1 ~5 Private Corporates 1 Individuals Italy’s Best Bank3 Data as of 1 H 26 except for TFA ranking for which data is as of 1 Q 26 | 1 . Considering all non - individual clients | 2 . Considering listed Retail & Commercial banks (data from last available reports and market presentations) | 3 . Euromoney Awards for Excellence, July 2026
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19 3. Scalable platform for enhanced growth A larger and fully functioning platform ready to scale Proven integration platform, ready to undertake additional growth opportunities Wider & pervasive network Specialized service models Distinctive product capabilities Leading-edge Digital & Technology foundations Nation-wide capillary reach, mostly concentrated in the wealthiest Italian regions Leading presence in Lombardy, Emilia Romagna, Liguria, and Sardinia Value - enhancing corporate banking capabilities (e.g., factoring, trade finance, CIB factory, structured finance) Comprehensive and distinctive product offering (e.g., bancassurance, asset management, depository bank) Leading wealth management capabilities, deep SME relationships , and long - standing leadership in public entities Distinctive Omnichannel business model , ensuring high quality service and access to clients A modernized tech ecosystem , strengthened in operational resilience , pioneering AI-enabled SW development , with substantial deployed CAPEX to sustain the next horizon of growth
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20 Acceleration beyond B:Dynamic: further raising our ambition with 5 levers of acceleration, while maintaining a strong capital base and best-in-class asset quality 4. Acceleration beyond B:Dynamic B:Wealth +18% Total AuM growth by end of 2028 B:Excellence +30% F rontline 1 time dedicated to commercial activities gro wth by end of 2028 B:Digital ~40% Cost/ Income Ratio by end of 2028 B:Champion +13% Lending to corporate clients growth by end of 2028 Full-service Business platform for Italian champions Higher productivity enabled by Digital, AI and cross functional execution Capture the hidden potential of our Wealth Management clients Higher value-added time from our people to our clients B:Insured +55% Net Insurance commissions growth by end of 2028 Broader solutions, effective delivery, across all segments 1 . Relationship managers and tellers
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21 B:Champion – Full-service Business platform for Italian champions New initiatives 4. Acceleration beyond B:Dynamic Strong presence in export-intensive regions +13% ~55 2025 ~62 2028E 54 Business Centers 15 Trade Finance Centers ~3,000 Business specialists Lending to corporate clients, €bn Scale up capillary distribution of our complete/ capital light product offering (e.g., Factoring, GTB, CIB factory) Win share in underserved areas with untapped commercial potential Deliver a fully functional digitally- enabled service model with specialist expertise and digital capabilities <
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22 B:Wealth – Capture the hidden potential of our Wealth Management clients 4. Acceleration beyond B:Dynamic Distinctive service model +18% +14% Commissions3, €bnAuM2, €bn ~106 2025 ~125 2028E ~1.1 2025 ~1.2 2028E Private clients Hidden private 1 Private banking clients ~2x ~75 k 430+ Private Bankers 100+ Private Centers 2,200+ advisors, also supported by AI tools Leading product factory ~52 €bn AuM & ~ 1 m clients BPER Banca Private Cesare Ponti as the Group Wealth Management factory Proven Corporate-Private collaboration model to serve entrepreneurs 1 . Incl . entrepreneurs | 2 . Including Life Insurance | 3 . Total commissions Wealth Management at consolidated level
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23 B:Insured – Broader solutions, effective delivery, across all segments 4. Acceleration beyond B:Dynamic New modular product solutions (motor, home, health and wealth) driving higher client insurance penetration Integrated branch, remote and specialist advisory Unlocking Private and SME insurance potential through a tailored - made proposition Broader coverage +55% 2025 ~148 2028E ~230 Net insurance commissions2 €m Seamless delivery High-value segments Omnichannel access points Successful long-lasting partnership with (leading P&C and Health insurance player) BPER is Italian leader in Bancassurance with outstanding performance – net insurance commissions 1 more than doubled since 2021 ▪ 230+ specialists ▪ Dedicated remote distance support unit ▪ Full Digital access on basic products 1 . BPER excl . BPSO | 2 . Excluding Life Insurance
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24 +15% RM productivity uplift in 2025-2028E >20% IT CAPEX productivity gain2 in 2025-2028E 4. Acceleration beyond B:Dynamic B:Digital – Higher productivity enabled by Digital, AI and cross-functional execution ~€300 m Savings from initiatives1 in 2025-2028E Sales support & CRM AI-powered Advisor Assistants supporting productivity and advanced targeting and personalization GenAI/Agentic adoption from requirements definition to coding and strengthening of cybersecurity practices in line with regulatory needs IT Factory Credit & product journeys E2E digitization of key product journeys Controls Automated and digitally-supported frontline controls improving quality Central functions Automation of mid- and back-office activities New initiatives Modern digital channels and scalable infrastructure Digital foundations Specialized capabilities to drive digital and AI adoption Dedicated Digital Business Unit Business, IT and Operations jointly working to accelerate productivity Cross-functional execution Digital Factory Contributing to Cost/Income to decrease to ~40% by 2028 1 . Savings before inflation and taxes | 2 . IT CAPEX productivity uplift calculated as the % increase of revenue - to - IT CAPEX ratio, comparing FY 2025 with cumulative 2026 - 2028 (cumulative revenues / cumulative IT CAPEX)
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25 4. Acceleration beyond B:Dynamic B:Excellence – Higher value-added time from our people to our clients Strengthen accountability of frontline, focusing their capacity on client service rather than administrative burden More dedicated time from specialized workforce Simplify organizational set-up and align central and support functions around client service Highly tailored, omnichannel, and seamless service model Deliver significant investment in the frontline tech enablement and talent development with our new Talent Academy Simpler and more effective experience with enhanced accessibility More empowered colleagues... …to better serve our clients +30% Client-facing time1 growth in 2025-2028E to improve commercial quality, strengthen client relationships, and enhance operational risk management 1 . Frontline (relationship managers and tellers) time dedicated to commercial activities growth in 2025 - 2028 E
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26 Macroeconomic context and underlying assumptions update 2026 2027 2028 0.5% 0.4% 0.7% 2026 2027 2028 3.3% 2.4% 1.9% 2026 2027 2028 2.25% 2.25% 2.25% GDP Italy, chg. YoY % EU Inflation, chg. YoY % Euribor 3M, % avg. 4. Acceleration beyond B:Dynamic
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27 4. Acceleration beyond B:Dynamic Robust and sustainable revenue growth Overall revenue growth driven by commissions, €bn ~0.4 2025 ~0.3 2028 E Other Net Commission Income Net Interest Income ~7.4 ~8.0 ~2.6 ~4.4 ~3.0 ~4.7 2.3% p.a. Net Comm. on Total Rev. % ~35% ~38% Customer volumes growth 2025-2028E, % Commissions growth 2025-2028E, % Lending to clients1 +9.4% +55% Bancassurance commissions Deposits2 +5.5% +14% Wealth management commissions 1 . Gross loans to customers | 2 . Total direct deposits
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28 Significant cost reduction also enabled by B:Digital, reaching ~40% Cost/Income ratio €bn 2025 Inflation & D&A impact Cost savings 2028E ~3.4 ~3.3 ~0.2 ~0.3 -3% ~45% ~40% Cost/Income ratio % xx Costs evolution 4. Acceleration beyond B:Dynamic Scale benefits Larger scale enables future growth while keeping the cost base broadly flat Structural productivity HR productivity improvements continue beyond 2028, supporting sustainable efficiency gains -0.9% p.a.
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29 Completing a massive upgrade of our technology with targeted investments 4. Acceleration beyond B:Dynamic ~€600 m Cumulated IT CAPEX 2026-2028E Main investment areas (non exhaustive) Automation of key processes (e.g., lending) Strengthening of Corporate platform Cybersecurity and IT resilience next-level • Modernize the Banks’ technology ecosystem • Create distinctive digital channels • Digitize transactions evolving towards cashless branches • Deploy AI use - cases, particularly to modernize IT Factory ~€1 bn Cumulated IT CAPEX invested in 2022-2025 to: >20% Increase in IT CAPEX productivity1 from 2025 to 2026-2028 avg 1 . IT CAPEX productivity uplift calculated as the % increase of the ratio Total revenue/IT CAPEX, comparing FY 2025 with cumulative 2026 - 2028 (cumulative total revenues / cumulative IT CAPEX)
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30 Acceleration beyond B:Dynamic: further performance acceleration (1/2) 4. Acceleration beyond B:Dynamic Key figures o.w. Net Inter. Income €bn o.w. Net Comm. Income €bn Net Comm. on Total Rev. % Op. Costs (excl. D&A) €bn Cost/Income % Cost of Risk bps Net Profit1 €bn CET1 ratio % Total Revenues €bn + 7.5% (+2.4% CAGR) + 12 .3% (+ 4.0 % CAGR) +14.3% (+4.5% CAGR) Evolution 25-28 - - 3.9% ( - 1.3% CAGR) - 5pp Stable +7.2% (+2.3% CAGR) +3pp € 4.4 bn €2.35 bn 27 €2.6 bn €3.0 bn FY25 restated ~45% 14.8%2 €7.4 bn ~35% ~€4.7 bn ~€2.7 bn <35 ~€3.0 bn ~€2.8 bn Projections 2028 ~40% >14.5% ~€8.0 bn ~38% Projections 2029 < 40 % >14.5% > €8.3 bn ~40 % FY26 Guidance vs FY25 restated ~14.5% Up low - single digit Up mid - single digit <45 % <40bps Improved Improved 1 . Net Profit is adjusted according to slide 36 in Annex | 2 . FY 25 CET 1 Ratio shown on a reported basis
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31 Acceleration beyond B:Dynamic: further performance acceleration (2/2) 4. Acceleration beyond B:Dynamic Evolution 25-28FY25 Projections 2028 ~€106 bn ~€125 bn +5.7% CAGR o.w. AuM1 €bn ~€422 bn ~€460 bn +2.9% CAGR Total Financial Assets €bn 52.8% >53% -NPE Coverage % ~1.0% ~1.2% -Net NPE ratio % ~€129 bn ~€141 bn +3.0% CAGR Net customer loans €bn ~€80 bn ~€89 bn +3.4% CAGR RWA €bn Key figures 1 . Including Life Insurance
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32 2025 2026 2027 2028 5. Sustained value creation and attractive shareholder remuneration Delivering superior shareholders returns Equivalent to ~€7.5 bn in 2025 - 2028E 2 total distribution by accrual period Improved combination of profitable growth and superior shareholder distributions Top-tier Net Profit growth Steady DPS trajectory Strong payout & RoTE Potential further upside from excess capital At least 85% total distribution1 2025-2028E in dividend pay-out and share buy-back ~€1.4 bn already distributed for 2025, with 75% pay - out – reaching ~€3.1 bn when including authorized share buy - back and accrued 1H26 dividend distribution 3 1 . Includes dividend pay - out and share buy - back | 2 . Distributions subject to target's achievement . Potential additional distributions from excess capital assessed yearly . All distribution subject to relative necessary and regulatory approvals | 3 . Dividend accrued on 1 H 2026 net profit subject to Board of Directors approval
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33 Scalable platform for enhanced growth Our outstanding technology, people, capabilities and capital create a scalable platform well positioned to capture organic and inorganic opportunities Acceleration beyond B:Dynamic Raising B:Dynamic ambition through strategic initiatives in corporate banking, private banking, bancassurance, digital productivity and service excellence Sustained value creation and attractive shareholder remuneration Accelerated performance and profitability supporting a shareholder remuneration of 85+% through a combination of cash dividends and share buy - backs over 2025 - 2028 B:Dynamic over-delivering on promises Performance in the first half of the Business Plan exceeding the ambitious targets set in 2024 A record semester Record financial performance and strong business momentum in 1H2026 also thanks to the acquisition of BPSO 3 4 5 1 2 Accelerating beyond B:DYNAMIC FULL VALUE 2027
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34 Annexes
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35 Group P&L 2. A record semester Note : in the present document, Operating Income and Total Revenues are synonyms, as are Core Revenues/Core Income and Operating Costs/Total Costs . FY 25 figures restated considering changes in the scope of consolidation following BPSO inclusion, see methodological note on slide 1 . P&L - (€m) 1H26 Stated 1H25 Restated Delta H/H Delta H/H (%) 2Q26 Stated Delta Q/Q (%) Delta Y/Y (%) Net interest income 2,211.8 2,181.6 30.2 1.4% 1,124.3 3.4% 2.4% Net commission income 1,353.4 1,292.0 61.4 4.8% 672.6 -1.2% 5.9% Core Income 3,565.3 3,473.7 91.6 2.6% 1,796.8 1.6% 3.7% Dividends 34.4 25.8 8.6 33.4% 21.9 75.8% -1.0% Gains on equity investments measured under the equity method 25.4 26.0 -0.5 -2.0% 16.1 71.4% 161.7% Net income from financial activities 234.4 95.4 139.1 145.9% 263.4 -- 483.3% Other operating expenses/income 16.7 88.0 -71.3 -81.1% 3.9 -69.6% -87.8% Operating Income 3,876.2 3,708.7 167.4 4.5% 2,102.1 18.5% 14.3% Staff costs -1,000.9 -988.0 -12.8 1.3% -503.7 1.3% 2.5% Other administrative expenses -417.6 -496.5 78.9 -15.9% -207.0 -1.7% -18.6% Depreciations & Amortizations -186.9 -185.2 -1.6 0.9% -94.7 2.8% -0.4% Operating costs -1,605.3 -1,669.8 64.4 -3.9% -805.4 0.7% -4.2% Net Operating Income 2,270.9 2,039.0 231.9 11.4% 1,296.7 33.1% 30.0% Net impairment losses for credit risk -177.0 -179.5 2.6 -1.4% -92.2 8.9% 11.2% Operating Income net of LLPs 2,093.9 1,859.5 234.4 12.6% 1,204.4 35.4% 31.7% Net provisions for risks and charges 11.9 -17.8 29.7 -166.9% 15.6 -526.6% -- Gain (Losses) on Investments -4.1 -14.8 10.7 -72.2% -3.5 513.0% -76.6% Result from current operations 2,101.7 1,826.9 274.8 15.0% 1,216.5 37.4% 35.2% Contributions to systemic funds - - 0.0 n.m. - n.m. n.m. Integration costs -54.0 - -54.0 n.m. -28.9 15.2% n.m. PPA impact -29.3 - -29.3 n.m. 0.3 -101.1% n.m. Profit (Loss) before taxes 2,018.5 1,826.9 191.6 10.5% 1,187.9 43.0% 32.1% Taxes -709.5 -604.7 -104.8 17.3% -426.0 50.3% 40.4% Profit (Loss) after tax from discontinued operations - - 0.0 n.m. 0.0 n.m. n.m. Profit (Loss) for the period 1,309.0 1,222.2 86.8 7.1% 761.9 39.3% 27.8% Minority Interests -32.4 -66.7 34.3 -51.4% -3.9 -86.5% -87.8% Profit (loss) for the period pertaining to the parent company 1,276.6 1,155.5 121.1 10.5% 758.1 46.2% 34.3%
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36 2025-2026 non-recurring P&L items 2. A record semester 2025 4Q Non-recurring items Integration costs Impacts on Net Profit +€182.7 m +€99.1 m Impacts on P&L items +€288.6 m +€181.8 m Tax effects - €95.2 m - €60.0 mPurchase Price Allocation - €10.6 m - €22.7 m Minorities 2026 1Q Integration costs +€14.8 m +€15.7 m +€25.1 m +€29.6 m - €8.8 m - €10.4 mPurchase Price Allocation - €1.5 m - €3.6 m 2Q Integration costs +€18.7 m -€0.2 m +€28.9 m - €0.3 m - €10.1 m +€0.1 mPurchase Price Allocation - €0.0 m €0.0 m
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37 Group Reclassified Balance Sheet 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 2. A record semester 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Q/Q Y/Y YTD Direct Deposits 161.0 165.6 165.8 168.7 166.5 167.1 +0.4% +0.9% -0.9% Interbank Liabilities 10.1 8.4 9.0 10.1 12.5 10.9 -12.9% +29.2% +8.1% Shareholders' Equity 16.8 16.4 17.1 17.6 18.1 18.1 -0.1% +10.1% +2.7% Other Liabilities 3 10.1 10.8 13.0 8.3 9.7 12.5 +28.5% +15.5% +50.6% Total Liabilities and Shareholders' Equity 198.0 201.3 204.8 204.6 206.9 208.6 +0.8% +3.6% +1.9% 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Q/Q Y/Y YTD Customer Loans 124.7 128.5 125.9 128.7 128.8 129.7 +0.7% +0.9% +0.7% Securities Portfolio 44.0 45.4 45.0 45.7 46.4 47.8 +3.1% +5.3% +4.6% Interbank Assets 1 11.3 11.3 13.2 14.2 16.2 16.6 +2.4% +46.2% +17.0% PPE & Intangible Assets 4.9 5.1 4.9 4.7 4.7 4.6 -1.2% -9.3% -2.5% Other Assets 2 13.0 10.8 15.9 11.3 10.8 9.8 -8.8% -9.2% -12.7% Total Assets 198.0 201.3 204.8 204.6 206.9 208.6 +0.8% +3.6% +1.9% Assets (€bn) Liabilities and Shareholders’ Equity (€bn)
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38 Retail Corporate Private & Wealth Manag. Tot. Indirect Deposits4 €bn 257.2 o.w. Net Inter. Income €m 1,066 52 492 o.w. Net Comm. Income €m 766 249 280 Gross Performing Loans €bn 60.6 1.1 55.5 Direct Deposits €bn 92.9 8.1 33.3 RWAs €bn 18.7 1.3 37.5 Core Revenues1 € m 1,840 302 790 Wealth Net Comm. Inc.2 €m 584 Cost/Income3 59% 36% 28% Divisional Database in 1H26 Note : Provisional management data on the commercial perimeter . 1 . Core Revenues include also Other Operating Income from Retail (€ 8 . 3 m), P&WM (€ 0 . 4 m) and Corporate (€ 19 . 2 m) . | 2 . Total Wealth Net Commission Income include all BPER Business Units Wealth Net Commission Income . | 3 . Calculated for the Private & Wealth Management Division, excluding revenues relating to Arca SGR non - captive . | 4 . Including all BPER Business Units Indirect Deposits 2. A record semester
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39 Balance sheet (€bn) Loan-to-Deposit Ratio 77.6% 133.9 10.5 12.4 38.1 13.7 Other Assets Financial Assets at amortised Cost Cash and Cash balances Financial Assets at FV & Hedging Derivatives Loans 160.3 17.8 18.1 0.7 11.8 Other liabilities Financial liabilities & Hedging Derivatives Equity and Equity Instruments Debt Securities Issued Deposits 128.4 2.5 3.0 139.9 3.0 17.3 Balance sheet: €208.6 bn Loans Breakdown Customers Institutional Repo Depo Breakdown Customers Institutional Repo Balance sheet and liquidity profile KEY HIGHLIGHTS 2. A record semester LCR and NSFR ▪ LCR at 162% at the end of Jun - 26 ▪ NSFR at 132% at the end of Jun - 26 Balance Sheet dynamics ▪ End of Jun - 26 Loan - to - Deposits Ratio at 77.6%, almost stable vs end of Mar - 26 ratio, remaining one of the lowest among Italian peers
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40 Gross exposures (€m) B/D B/D B/D B/D B/D B/D Abs. Chg. Abs. Chg. Abs. Chg. Non Performing Exposures (NPEs) 2,770 2.2% 2,785 2.1% 2,982 2.3% 2,767 2.1% 2,872 2.2% 2,988 2.3% 116 4.0% 203 7.3% 221 8.0% Bad loans 625 0.5% 688 0.5% 766 0.6% 637 0.5% 723 0.6% 768 0.6% 45 6.2% 80 11.7% 131 20.5% Unlikely to pay loans 1,951 1.5% 1,900 1.5% 2,022 1.6% 1,959 1.5% 1,987 1.5% 2,037 1.5% 50 2.5% 137 7.2% 78 4.0% Past due loans 194 0.2% 197 0.2% 194 0.2% 171 0.1% 162 0.1% 183 0.1% 21 12.4% -14 -7.5% 12 6.9% Gross performing loans 124,172 97.8% 127,951 97.9% 125,306 97.7% 128,254 97.9% 128,264 97.8% 129,132 97.7% 868 0.7% 1,181 0.9% 878 0.7% Total gross exposures 126,942 100.0% 130,736 100.0% 128,288 100.0% 131,021 100.0% 131,136 100.0% 132,120 100.0% 984 0.7% 1,384 1.1% 1,099 0.8% Adjustments to loans (€m) coverage coverage coverage coverage coverage coverage Abs. Chg. Abs. Chg. Abs. Chg. Adjustments to NPEs 1,310 47.3% 1,339 48.1% 1,491 50.0% 1,461 52.8% 1,517 52.8% 1,616 54.1% 99 6.5% 277 20.6% 155 10.6% Bad loans 429 68.6% 473 68.8% 525 68.5% 454 71.3% 518 71.7% 548 71.3% 30 5.7% 75 15.7% 94 20.6% Unlikely to pay loans 823 42.2% 803 42.3% 904 44.7% 953 48.6% 949 47.8% 1,004 49.3% 55 5.8% 201 25.0% 51 5.4% Past due loans 58 30.3% 63 31.8% 62 32.0% 54 31.8% 50 30.9% 64 34.9% 14 27.1% 1 1.6% 10 17.3% Adjustments to performing loans 892 0.7% 862 0.7% 869 0.7% 822 0.6% 819 0.6% 810 0.6% -9 -1.1% -52 -6.0% -12 -1.4% Total adjustments 2,202 1.7% 2,201 1.7% 2,360 1.8% 2,283 1.7% 2,336 1.8% 2,426 1.8% 90 3.8% 225 10.2% 143 6.2% Net exposures (€m) B/D B/D B/D B/D B/D B/D Abs. Chg. Abs. Chg. Abs. Chg. Non Performing Exposures (NPEs) 1,460 1.2% 1,446 1.1% 1,491 1.2% 1,306 1.0% 1,355 1.1% 1,372 1.1% 17 1.2% -74 -5.1% 66 5.0% Bad loans 196 0.2% 215 0.2% 241 0.2% 183 0.1% 205 0.2% 220 0.2% 15 7.6% 5 2.9% 37 20.3% Unlikely to pay loans 1,128 0.9% 1,097 0.9% 1,118 0.9% 1,006 0.8% 1,038 0.8% 1,033 0.8% -5 -0.5% -64 -5.9% 27 2.6% Past due loans 136 0.1% 134 0.1% 132 0.1% 117 0.1% 112 0.1% 119 0.1% 7 5.8% -15 -11.7% 2 2.1% Net performing loans 123,280 98.8% 127,089 98.9% 124,437 98.8% 127,432 99.0% 127,445 98.9% 128,322 98.9% 877 0.7% 1,233 1.0% 890 0.7% Total net exposures 124,740 100.0% 128,535 100.0% 125,928 100.0% 128,738 100.0% 128,800 100.0% 129,694 100.0% 894 0.7% 1,159 0.9% 956 0.7% Q/Q 1Q26 2Q25 2Q25 2Q25 YTD Q/Q 4Q25 YTD YTD4Q25 1Q26 1Q26 Q/Q 4Q25 Y/Y Y/Y Y/Y 2Q26 2Q26 2Q261Q25 3Q25 1Q25 1Q25 3Q25 3Q25 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 . 2. A record semester
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41 - 0.2 +0.0 +0.2 1Q26 Active portf. Management Reg. & Models Business dynamics & Risk profile improvement 2Q26 67.3 67.8 68.2 65.1 65.2 64.3 12.4 12.4 12.4 13.4 13.4 13.4 1.8 1.9 1.8 1.7 1.6 2.5 81.5 82.1 82.4 80.1 80.2 80.2 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Credit Risk Operational Risk Other Risks ▪ At the end of Jun - 26, RWAs flat Q/Q at €80.2 ▪ RWA evolution mainly driven by active portfolio management actions RWAs details 80.2 80.2 RWAs1 (€bn) 1 . Other risks include CVA and Market risks KEY HIGHLIGHTS Q/Q key drivers (€bn) 2. A record semester
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42 Bond portfolio evolution and duration KEY HIGHLIGHTS 1 . Duration in years, hedging included . | 2 . Annualised Italian Govies ▪ Italian Govies stood at €22.9 bn at the end of Jun - 26 ▪ This portfolio was 51.2% of the Total Bonds outstanding Duration ▪ Total Bond portfolio had a duration of 1.8 years at the end of Jun - 26 , decreasing from 1.9 years at the end of Mar - 26 Yield ▪ The total financial portfolio has an average yield of 2.6% 2 in 2Q26 2.4 2.3 2.0 2.2 1.9 1.8 2.3 2.2 2.2 2.3 2.0 1.8 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Total Bond Portfolio Italian Government Bond Portfolio 19.5 20.6 20.8 21.7 22.2 22.9 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Italian Government Bonds (€bn) 46.6% 47.9% 48.9% 50.4% 50.9% Italian Gov. / Total Bonds (%) 51.2% Duration1 ( years ) +11.1% Y/Y 2. A record semester
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43 Financial Assets: Highlights Italy 60.7% France 11.2% Spain 7.3% Germany 6.9% Other 13.9% Govies Geographical Breakdown (%) 0.3 1.7 0.8 19.8 FY26 FY27 FY28 >2028 2.3 5.1 3.0 35.9 FY26 FY27 FY28 >2028 Bonds PTF Geographical Breakdown (%) Bonds PTF Maturities1 (€bn) Italian Govies Maturities1 (€bn) Note : Managerial figures . 1 . Nominal amounts 2. A record semester Italy 70.3% Spain 9.5% France 8.7% Germany 7.3% Other 4.2%
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44 Commercial dynamics: loans and deposits evolution 60.5% 59.9% 59.7% 59.4% 59.1% 58.6% 16.9% 17.6% 18.2% 17.9% 17.9% 18.4% 9.2% 9.0% 9.0% 8.9% 8.9% 8.9% 13.4% 13.5% 13.2% 13.8% 14.1% 14.1% 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Northern Italy Centre Italy Southern Italy Islands & Foreign countries 128.8 54.1% 53.3% 52.7% 52.9% 52.7% 51.9% 22.7% 23.4% 23.6% 23.8% 23.6% 24.6% 10.7% 10.7% 10.8% 10.7% 10.8% 10.8% 12.5% 12.6% 13.0% 12.6% 12.9% 12.7% 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Northern Italy Centre Italy Southern Italy Islands & Foreign countries 147.3 142.2 Commercial deposits by geography (€bn)Commercial loans by geography (€bn) 128.5 124.7 146.7 147.4 125.9 128.7 150.8 Note : Managerial breakdown figures 129.7 149.3 2. A record semester
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45 All credit ratings confirmed, with Fitch upgrade LTD over the quarter 0.5 0.8 1.9 0.2 1.5 1.9 FY25 1H26 Wholesale Covered Bond Retail Rating Agency LT Issuer LT Deposits Outlook BBB (high) A (low) Positive BBB A- Positive Baa2 A3 Stable BBB Stable Note : Managerial figures shown in nominal amounts . 1 . Excluding Tier 1 bonds Bond Issued1 (€bn) Bond Maturities1 (€bn) 0.5 1.2 4.2 2.2 1.8 2.4 0.2 0.4 0.4 0.3 2.9 0.4 3.4 6.9 2026 2027 2028 Beyond Wholesale Covered Bond Retail 2. A record semester
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46 ESG focus Environmental Social ▪ Support to Third Sector entities and Impact lending ▪ Top Employer Italia 2026 ▪ 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 2026” ▪ Included in the MIB ESG Index ▪ Included in FTSE4Good Index ▪ Weight of ESG KPIs: 20% for LTI 2025- 2027 and 15% for MBO 2026 – Strategic scorecard (AD and Top Management) ▪ D&I: 40% women in the BoD ▪ D&I: implementation of a 3Y operational gender equality plan TOP ESG RATING 63 (cat. 2) EEE- ISS STOXX Corporate Rating: C+ ▪ 100% use of electricity from renewable sources ▪ More than €2.2 bn of new ESG lending in 1H26 ▪ Approved Net Zero Transition Plan 2. A record semester
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Sfondo slide Grafici Sfondoslide Scritte Grafici Scritte Scritte Note pagina €bn Simbolo nuovo Mappa Italia 51% Tabella target 47 Dummy figures Contacts for Investors and Financial Analysts Andrea Filippetti Investor Relations andrea.filippetti@bper.it Giulia Biocca Investor Relations giulia.biocca@bper.it Michele Minelli Investor Relations michelegiulio.minelli@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