Slides
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Sfondo slide Grafici Sfondo slide Scritte Grafici Scritte Scritte Note pagina €bn Simbolo nuovo Mappa Italia 51% Tabella target MILAN | NOVEMBER 5TH | 2026 3Q26 & 9M26 Results Presentation
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Sfondo slide Grafici Sfondoslide Scritte Grafici Scritte Scritte Note pagina €bn Simbolo nuovo Mappa Italia 51% Tabella target 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 3,185,584,118.30 – 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. FY25 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 1H25.
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Sfondo slide Grafici Sfondoslide Scritte Grafici Scritte Scritte Note pagina €bn Simbolo nuovo Mappa Italia 51% Tabella target 3 Executive summary Executive summary Agenda Group results Group results Final remarks Final remarks Annexes Annexes
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Sfondo slide Grafici Sfondoslide Scritte Grafici Scritte Scritte Note pagina €bn Simbolo nuovo Mappa Italia 51% Tabella target 4 +30% Frontline1 time dedicated to commercial activities growth by end of 2028 To Accelerating beyond B:DYNAMIC FULL VALUE 2027 From B:Dynamic |FULL VALUE 2027 UNLEASH OUR CLIENTS' VALUE CAPTURE OUR LATENT ECONOMIES OF SCALE LEVERAGE OUR STRONG BALANCE SHEET 5 LEVERS OF ACCELERATION Maintaining strong capital and asset quality +13% Lending to corporate clients COMPLETE THE MODERNIZATION OF OUR BANK Technology, Security & AI ESG commitment Organization & People +18% Total AuM growth +55% Net Insurance commissions growth +30% Frontline time dedicated to client growth ~40% Cost/Income Ratio B:Champion Corporate clients’ growth B:Wealth Total AuM growth B:Insured Net Insurance comm. growth B:Digital Cost/ Income Ratio B:Excellence More time for clients Ahead of Plan to 2028 Accelerating B:Dynamic 2028 targets through strategic initiatives
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Sfondo slide Grafici Sfondoslide Scritte Grafici Scritte Scritte Note pagina €bn Simbolo nuovo Mappa Italia 51% Tabella target 5 Adj. Net Profit Cost/Income CoR(1) RoTE(2) CET1 Ratio(3) LCR NSFR Total Revenues Delivering best nine-month performance ever… €5.8 bn +5.8% 9M/9M (+3.7% excl. TRS) €1.9 bn +12.2% 9M/9M 27bps flat 9M/9M 42.4% -259bps 9M/9M 15.1%20.8% 20.6% Jun-26 134% 132% Jun-26 167% 162% Jun-26 Core Revenues at €5.4 bn and Cost/Income Ratio at 42.4% in 9M26 Strong Asset Quality at the end of Sep-26 with a stable Cost of Riskat 27bps Solid Balance Sheet and high Capital Ratios, Organic Capital Generation of €2.0 bn in 9M26 Sound liquidity profile with short & long-term ratios, well above regulatory thresholds 9M26Key Financial Highlights 9M26 Adj. Net Profit growth at a strong +12.2% boosted by Group positive commercial dynamics Note: All P&L adjustments are shown on slide 24 in Annex. Adj. Net Profit and C/I Ratio also exclude TRS & other market effects. (1) CoR annualized. (2) RoTE calculated as: Annualized Adjusted Net Profit / (Average Tangible Book Value - Minorities interests - AT1 - Dividends Accrued). (3) CET1 Ratio as at 30 September 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 authorization to include these profits in Own Funds pursuant to art. 26, para 2 of the CRR.
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Sfondo slide Grafici Sfondoslide Scritte Grafici Scritte Scritte Note pagina €bn Simbolo nuovo Mappa Italia 51% Tabella target 6 591.0 564.6 575.1 598.5 598.1 655.6 687.6 Adj. Net Profit 591.0 564.6 575.1 339.9 518.5 758.1 666.1 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 Stated Net Profit 9M26 9M/9M 3Q26 Q/Q Y/Y Total Revenues(1) 5,820.0 +5.8% 1,943.9 -7.5% +8.3% o/w NII 3,375.1 +3.5% 1,163.3 +3.5% +7.9% o/w Net Commission Income 2,003.7 +3.4% 650.3 -3.3% +0.6% Operating Costs 2,422.2 -2.2% 816.9 +1.4% +1.1% Net Operat. Income (2) 3,397.9 +12.3% 1,127.0 -13.1% +14.2% LLPs -264.2 +1.8% -84.0 -11.2% -1.2% Profit before tax (adjusted) 3,131.9 +15.6% 1,030.2 -15.3% +16.8% Adjusted Net Profit(3) 1,941.4 +12.2% 687.6 +4.9% +19.6% Stated Net Profit 1,942.7 +12.3% 666.1 -12.1% +15.8% Profit stated vs adjusted(3) (€m)P&L Key Figures (€m) … and delivering best quarter ever Note: All P&L adjustments are shown on slide 24 in Annex. Adj. Net Profit also excludes TRS & other market effects. (1) Total Revenues up by 3.7% 9M/9M and 1.4% Q/Q, excl. TRS & other market effects. (2) Net Operating Income up by 8.6% 9M/9M and 1.3% Q/Q, excl. TRS & other market effects. (3) From 4Q25, Adjusted Net Profit also excludes TRS & other market effects. Net TRS and other market effects were as follows: +€23.1 m in 4Q25, -€49.2 m in 1Q26, +€121.0 m in 2Q26 and +€0.4 m in 3Q26. Core Revenues (3)
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Sfondo slide Grafici Sfondoslide Scritte Grafici Scritte Scritte Note pagina €bn Simbolo nuovo Mappa Italia 51% Tabella target 7 FY26 Guidance improved, subject to macro and market conditions Total Revenues o.w. Net Inter. Income Op. Costs (excl. D&As) Cost of Risk Net Profit CET1 Ratio o.w. Net Comm. Income Cost/Income RoTE(2) €5.8 bn €3.4 bn €2.1 bn 27bps(1) €1.9 bn €2.0 bn 42.4% €7.4 bn €2.6 bn 27bps €2.3 bn 20.0% 14.8%(3) €4.4 bn €3.0 bn 45.3% <35bps <45% >14.5%15.1%(4) 20.8% Up mid-single digit Up low-single digit 9M26FY25 restated FY26 Guidance vs FY25 restated Improved from 40bps Note: All P&L adjustments are shown on slide 24 in Annex. Net Profit shown on an adjusted basis. Net Profit and Cost/Income ratio also exclude TRS & other market effects. (1) CoR annualized. (2) RoTE calculated using Adjusted Net Profit according to slide 24 in Annex. FY25 RoTE shown on a reported basis. (3) FY25 CET1 Ratio shown on a reported basis. (4) CET1 Ratio as at 30 September 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. CET1 Ratio includes share buyback effect. Improved from ~14.5%
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Sfondo slide Grafici Sfondoslide Scritte Grafici Scritte Scritte Note pagina €bn Simbolo nuovo Mappa Italia 51% Tabella target 8 Executive summary Executive summary Agenda Group results Group results Final remarks Final remarks Annexes Annexes
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9 Sfondo slide Grafici Sfondoslide Scritte Grafici Scritte Scritte Note pagina €bn Simbolo nuovo Mappa Italia 51% Tabella target +39.0 -22.3 -174.9 2Q26 NII Net Comm. Income Div./Trad. /Other 3Q26 1,083.9 1,097.7 1,078.3 1,111.0 1,087.5 1,124.3 1,163.3 656.7 635.4 646.2 695.7 680.9 672.6 650.3 129.8 105.3 69.8 136.4 5.7 305.2 130.4 1,870.3 1,838.5 1,794.3 1,943.0 1,774.1 2,102.1 1,943.9 8.4% 8.4% 8.3% 8.6% 8.7% 8.9% 8.8% 5.5% 6.0% 6.5% 7.0% 7.5% 8.0% 8.5% 0.0 500.0 1,000.0 1,500.0 2,000.0 2,500.0 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 NII Net Commission Income Div./Trad./Other Net Revenues/RWA 5,503.0 5,820.0 9M25 9M26 KEY HIGHLIGHTS Q/Q key drivers (€m) (1) 9M Core Revenues up by 3.5% at €5.4 bn, driven by record NII and solid Net Commissions Total Revenues ▪ Increasing capital efficiency with Net Revenues on RWAs at 8.8% in 3Q26 (excl. TRS) vs 8.3% in 3Q25 ▪ 9M26 Total Revenues stood at €5.8 bn (+3.7% 9M/9M, excl. TRS), supported by solid Core Revenues and positive contribution from Dividends ▪ 3Q26 Total Revenues at €1.9 bn (+8.3% Y/Y) Core Revenues ▪ 9M26 Core Revenues at €5.4 bn (+3.5% 9M/9M) driven by record NII (+3.5% 9M/9M) and solid Net Commission Income (+3.4% 9M/9M, mainly driven by AuM and insurance products) ▪ 3Q26 Core Revenues up at €1.8 bn (+5.2% Y/Y) Dividends ▪ 9M26 Dividends at €49.4 m (+33.7% 9M/9M) Total Revenues (quarterly) (€m) +5.8% (1) Net Revenues calculated as: Operating Income (excluding Other Operating Exp./Income and TRS & other mkt effects) net of Provisions. Net Revenues considered cumulative for the period and annualized. RWAs considered point in time as the date of closing of the reporting period. TRS and other mkt effect, limited to P&L impact. Total Revenues (€m) +€9.3 m, excl. TRS & other mkt effects 2,102.1 1,943.9
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10 Sfondo slide Grafici Sfondoslide Scritte Grafici Scritte Scritte Note pagina €bn Simbolo nuovo Mappa Italia 51% Tabella target +22.4 +5.4 +11.2 2Q26 Rates Volumes Non Commercial 3Q26 3,259.9 3,375.1 9M25 9M26 1,083.9 1,097.7 1,078.3 1,111.0 1,087.5 1,124.3 1,163.3 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 NII (quarterly) (€m) Q/Q key drivers(1) (€m) Commercial Rates(1) (%) Record NII in 3Q26 up by 3.5% Q/Q, mainly supported by positive commercial dynamics KEY HIGHLIGHTS 3.66 3.67 3.73 3.75 3.87 0.48 0.48 0.48 0.50 0.54 2.01 2.04 2.05 2.24 2.51 3.18 3.19 3.25 3.26 3.34 3Q25 4Q25 1Q26 2Q26 3Q26 Comm. Asset Comm. Liabilities Euribor 3M (avg) Spread Net Interest Income (€m) (1) Managerial quarterly figures. (2) Commercial drivers include Ecobonus effects, down €0.8 m Q/Q. Volumes include also day effects. 1,124.3 1,163.3 NII ▪ 9M26 NII stood at €3.4 bn, up by +3.5% 9M/9M ▪ 3Q26 NII at a record €1.2 bn (+€39.0 m Q/Q), mainly supported by positive contribution from commercial drivers (+€27.8 m Q/Q) and non-commercial components (mainly proprietary portfolio) ▪ Interest rates sensitivity (±100 bps) at €180 m Commercial Rates ▪ Commercial spread improved Q/Q by 9bps mainly driven by interest rates increase +3.5% +7.9% Y/Y Commercial drivers(2)
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11 Sfondo slide Grafici Sfondoslide Scritte Grafici Scritte Scritte Note pagina €bn Simbolo nuovo Mappa Italia 51% Tabella target 1,938.3 2,003.7 9M25 9M26 656.7 635.4 646.2 695.7 680.9 672.6 650.3 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 Net Commission Income by category (€m) Net Commission Income up by 3.4% 9M/9M, driven by Wealth Management and Bancassurance KEY HIGHLIGHTS Net Commission Income ▪ Net Commissions up by +3.4% 9M/9M at €2.0 bn, mainly driven by AuM (+12.2% 9M/9M), Life Insurance (+7.8% 9M/9M) and Bancassurance (+11.6% 9M/9M) products ▪ Net Commission Income contribution on Total Revenues at 35.1% in 9M26 (excl. TRS) ▪ Wealth Management fees up by a strong +9.2% 9M/9M, driven by AuM (+12.2% 9M/9M) and Life Insurance (+7.8% 9M/9M) ▪ 9M26 Banking Services fees confirmed as the main contributor to overall Net Commission Income at €1.0 bn (51.9% of total), mainly driven by current accounts and financing fees Net Commission Income (quarterly) (€m) +3.4% 9M25 % on Total 9M26 % on Total 9M/9M 3Q26 Q/Q Y/Y Wealth 791.2 40.8% 864.2 43.1% +9.2% 280.6 -2.3% +7.0% o/w AuC 73.3 3.8% 65.1 3.2% -11.3% 14.8 -32.4% -34.7% o/w AuM 576.9 29.8% 647.1 32.3% +12.2% 217.1 +1.6% +11.0% o/w Life Insur. & Others 141.0 7.3% 152.1 7.6% +7.8% 48.7 -5.6% +11.1% Bancassurance 89.9 4.6% 100.4 5.0% +11.6% 30.2 -12.0% +8.1% Banking services 1,057.1 54.5% 1,039.1 51.9% -1.7% 339.4 -3.3% -4.7% Total 1,938.3 100.0% 2,003.7 100.0% +3.4% 650.3 -3.3% +0.6% +0.6% Y/YNet Commission Income (€m)
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12 Sfondo slide Grafici Sfondoslide Scritte Grafici Scritte Scritte Note pagina €bn Simbolo nuovo Mappa Italia 51% Tabella target +2.0 -2.3 -0.3 +0.2 2Q26 Deposits AuC AuM Life Insurance 3Q26 494.5 +2.4% Y/Y 161.0 165.6 165.8 168.7 166.5 167.1 169.1 133.6 138.9 143.4 147.7 139.0 145.4 143.1 76.0 78.1 81.1 81.9 81.2 87.1 86.723.4 23.6 23.8 24.0 24.4 24.7 25.0393.9 406.3 414.0 422.2 411.1 424.3 423.9 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 Deposits AuC AuM Life Insurance TFAs (€bn) Total Financial Assets ▪ TFAs strongly up by c. €10 bn Y/Y Deposits ▪ Deposits stood at €169.1 bn at the end of Sep-26, with an increase of €2.0 bn Q/Q AuC & AuM ▪ AuC stable Y/Y at approx. €143 bn ▪ AuM strongly up by over €5 bn Y/Y at €86.7 bn ▪ AuM net inflows were €1.4 bn in 9M26 Life insurance ▪ Life Insurance increased at €25.0 bn, up by €1.2 bn Y/Y KEY HIGHLIGHTS Q/Q key drivers(1) (€bn) (1) Managerial quarterly figures. Continued TFAs growth at €424 bn Y/Y 423.9424.3
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13 Sfondo slide Grafici Sfondoslide Scritte Grafici Scritte Scritte Note pagina €bn Simbolo nuovo Mappa Italia 51% Tabella target 496.5 491.5 480.2 497.4 497.2 503.7 494.4 332.3 349.4 327.4 380.4 302.7 301.7 322.4 828.8 840.9 807.6 877.8 799.9 805.4 816.9 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 HR Costs Non-HR Costs 44.3% 45.7% 45.0% 45.2% 45.1% 38.3% 42.0% 46.0% 43.3% 42.0% Cost/Income Cost/Income excl. TRS 22.6 22.4 4Q25 3Q26 45.0 42.4 9M25 9M26 2,477.4 2,422.2 9M25 9M26 +17.5 -73.7 +83.3 9M25 CCNL Synergies Other 9M26 1,495.3 1,468.2 Cost/Income Ratio & Total Costs(quarterly) (€m) 9M/9M HR Costs key drivers(2) (€m) KEY HIGHLIGHTS C/I Ratio(1) (%) Total Costs (€m) Headcount evolution (#, ‘000) (1) C/I Ratio excludes TRS & other mkt effects in 4Q25 and in 9M26. (2) Managerial figures. -259bps -2.2% Total Costs down by 2.2% thanks to continued focus on operational efficiency +1.1% Y/Y (1) Total Costs(1) ▪ 9M26 Total Costs down by 2.2% 9M/9M at €2.4 bn, with a lower Cost/Income Ratio at 42.4% (41.6% including TRS effect), thanks to operational excellence initiatives: • HR Costs at €1.5 bn (+1.8% 9M/9M), mainly driven by CCNL and variable compensation • Non-HR Costs at €926.9 m, down by €82.3 m 9M/9M, thanks to continued focus on operational excellence initiatives ▪ 3Q26 Cost/Income Ratio at 42.0%, stable Q/Q and down from 45.0% in 3Q25 Headcount evolution ▪ Headcount at c. 22,400 at the end of Sep-26 with a decrease of c. 200 vs Dec-25
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14 Sfondo slide Grafici Sfondoslide Scritte Grafici Scritte Scritte Note pagina €bn Simbolo nuovo Mappa Italia 51% Tabella target 27 27 9M25 9M26 259.5 264.2 9M25 9M26 NPE Coverage Ratio by asset class 42.2% 42.3% 44.7% 48.6% 47.8% 49.3% 48.4% 68.6% 68.8% 68.5% 71.3% 71.7% 71.3% 70.1% 30.3% 31.8% 32.0% 31.8% 30.9% 34.9% 32.1% 47.3% 48.1% 50.0% 52.8% 52.8% 54.1% 53.4% 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 UTP Bad Loans Past Due Total NPE Coverage Ratio -1 bps Y/Y LLPs (€m) and CoR(1) (quarterly) (bps) Cost of Risk (CoR) ▪ 9M26 CoR (1) stable 9M/9M at 27bps consolidating a sustainable low level, while decreasing at 26bps in 3Q26 (-3bps Q/Q) Overlays ▪ 3Q26 total cumulative overlays increased by €81 m Q/Q at c. €310 m Performing Loans Coverage Ratio ▪ 3Q26 Coverage Ratio on Performing Loans at a strong 0.65% improved from 0.63% in 2Q26, one of the highest level amongst Italian peers NPE Coverage Ratio ▪ Total Coverage Ratio at a strong 53.4% (1) KEY HIGHLIGHTS Flat CoR at 27bps in 9M, with NPE Coverage Ratio at 53.4%, amongst the highest in Italy (1) CoR annualised. LLPs (€m) CoR(1) (bps) +1.8% flat 94.5 80.0 85.0 86.2 85.6 94.6 84.0 30 25 27 27 27 29 26 - 5 10 15 20 25 30 50.0 60.0 70.0 80.0 90.0 100.0 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 LLPs Cost of Risk
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15 Sfondo slide Grafici Sfondoslide Scritte Grafici Scritte Scritte Note pagina €bn Simbolo nuovo Mappa Italia 51% Tabella target 2.0 1.9 2.0 2.0 2.0 2.0 2.0 0.6 0.7 0.8 0.6 0.7 0.8 0.80.2 0.2 0.2 0.2 0.2 0.2 0.22.8 2.8 3.0 2.8 2.9 3.0 3.1 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 Gross UTP Gross Bad Loans Gross Past Due 2.2% 2.1% 2.3% 2.1% 2.2% 2.3% 2.3% 1.2% 1.1% 1.2% 1.0% 1.1% 1.1% 1.1% 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 Gross NPE ratio Net NPE ratio Sound Asset Quality with NPE Ratios among the lowest in Italy 112.5 116.0 113.1 116.0 115.9 118.1 118.3 10.8 11.1 11.4 11.4 11.6 10.2 10.6 123.3 127.1 124.4 127.4 127.4 128.3 128.9 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 Stage 2 Stage 1 Gross NPE Stock ▪ Gross and Net NPE Ratios stable Q/Q at 2.3% and 1.1%, respectively, confirming a solid credit quality of loans portfolio Stage Classification ▪ Net Stage 2 Loans on Total Net Customers Loans at 8.1% in 3Q26, with a coverage ratio at 4.3% 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 Gross NPE stock (€bn) +2.3% Y/Y 8.1%
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16 Sfondo slide Grafici Sfondoslide Scritte Grafici Scritte Scritte Note pagina €bn Simbolo nuovo Mappa Italia 51% Tabella target -0.1 +1.3 -0.0 2Q26 Active portf. Management Reg. & Models Business dynamics & Risk profile improvement 3Q26 67.3 67.8 68.2 65.1 65.2 64.3 65.8 12.4 12.4 12.4 13.4 13.4 13.4 13.4 1.8 1.9 1.8 1.7 1.6 2.5 2.3 81.5 82.1 82.4 80.1 80.2 80.2 81.4 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 Credit Risk Operational Risk Other Risks ▪ At the end of Sep-26, RWAs were up by €1.2 bn Q/Q at €81.4 bn and down by €1.0 bn Y/Y ▪ RWA growth was mainly driven by credit risk due to a prudential update of internal AIRB models according to art. 3 CRR RWAs slightly increased Q/Q to €81.4 bn 80.2 81.4 RWAs(1) (€bn) (1) Other risks include CVA and Market risks. KEY HIGHLIGHTS Q/Q key drivers (€bn)
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17 Sfondo slide Grafici Sfondoslide Scritte Grafici Scritte Scritte Note pagina €bn Simbolo nuovo Mappa Italia 51% Tabella target +84 -65 -25 +19 2Q26 OCG Distribution Reg. & Models Others 3Q26 Capital evolution ▪ CET1 Ratio landed at 15.1% at the end of Sep-26 thanks to positive contribution from organic profitability Organic Capital Generation (OCG)(1) ▪ 9M26 OCG at €2.0 bn with an impact on CET1 Ratio of +247bps 494.5 Strong CET1 Ratio at 15.1% with €2.0 bn of internal capital generation Capital evolution MDA Buffer Note: The capital ratios as at 30 September 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. CET1 Ratios shown on a reported basis. (1) Organic Capital Generation calculated as stated 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% 15.1% 3Q25 4Q25 1Q26 2Q26 3Q26 15.1%15.0% 489bps (€3.9 bn) 502bps (€4.0 bn) Q/Q key drivers (bps) 512bps (€4.2 bn)
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18 Sfondo slide Grafici Sfondoslide Scritte Grafici Scritte Scritte Note pagina €bn Simbolo nuovo Mappa Italia 51% Tabella target 19.5 20.6 20.8 21.7 22.2 22.9 23.0 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 2.4 2.3 2.0 2.2 1.9 1.8 1.7 2.3 2.2 2.2 2.3 2.0 1.8 1.5 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 Total Bond Portfolio Italian Government Bond Portfolio Italian Govies ▪ Italian Govies stood at €23.0 bn at the end of Sep-26 ▪ This portfolio was 51.2% of the Total Bonds outstanding Duration ▪ Total Bond portfolio had a duration of 1.7 years at the end of Sep-26, decreasing from 1.8 years at the end of Jun-26 Yield ▪ The total financial portfolio has an average yield of 2.7%(2) in 3Q26 Italian Government Bonds (€bn) Bond portfolio evolution and duration 46.6% 47.9% 48.9% 50.4% KEY HIGHLIGHTS 50.9% (1) Duration in years, hedging included. (2) Annualized. Italian Gov. / Total Bonds (%) 51.2% Duration(1) (years) 51.2% +10.6% Y/Y
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19 Sfondo slide Grafici Sfondoslide Scritte Grafici Scritte Scritte Note pagina €bn Simbolo nuovo Mappa Italia 51% Tabella target Bond issued and maturities ▪ In 3Q26, Senior Non-Preferred Green Bond amounting to €0.5 bn successfully placed Rating Agencies ▪ Main updates in 9M26: • S&P Global upgraded BPER’s Outlook to Positive in 3Q26 • DBRS revised BPER Banca’s trend to “Positive“ from “Stable” and affirmed the Long-Term issuer rating at BBB (high) in 2Q26 • Fitch upgraded BPER’s Long-Term Deposits Rating maintaining a Positive Outlook in 2Q26 All credit ratings confirmed, with S&P revising outlook to Positive over the quarter KEY HIGHLIGHTS Note: Managerial figures shown in nominal amounts. (1) Excluding Tier 1 bonds. Rating Agency LT Issuer LT Deposits Outlook BBB (high) A (low) Positive BBB A- Positive Baa2 A3 Stable BBB Positive Bond Issued(1) (€bn) Bond Maturities(1) (€bn) 0.5 0.5 0.8 2.70.2 1.5 3.3 FY25 9M26 Wholesale Covered Bond Retail 1.2 4.7 2.2 0.7 1.8 2.4 0.1 0.4 0.5 0.3 2.4 1.1 3.4 7.4 2026 2027 2028 Beyond Wholesale Covered Bond Retail
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Sfondo slide Grafici Sfondoslide Scritte Grafici Scritte Scritte Note pagina €bn Simbolo nuovo Mappa Italia 51% Tabella target 20 Agenda Group results Group results Final remarks Final remarks Annexes Annexes Executive summary Executive summary
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Sfondo slide Grafici Sfondoslide Scritte Grafici Scritte Scritte Note pagina €bn Simbolo nuovo Mappa Italia 51% Tabella target 21 Best 9M and 3Q performance ever, despite macro-economic environment Continued business growth thanks to banking network commercial strength Strong capital position with organic generation of €2.0 bn, distribution of an interim dividend of €694 m Asset quality confirmed best-in-class in Italy Acceleration of B:Dynamic 2028 targets through strategic initiatives Final Remarks
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Sfondo slide Grafici Sfondoslide Scritte Grafici Scritte Scritte Note pagina €bn Simbolo nuovo Mappa Italia 51% Tabella target 22 Agenda Group results Group results Final remarks Final remarks Annexes Annexes Executive summary Executive summary
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Sfondo slide Grafici Sfondoslide Scritte Grafici Scritte Scritte Note pagina €bn Simbolo nuovo Mappa Italia 51% Tabella target 23 Group P&L Note: in the present document, Operating Income and Total Revenues are synonyms, as well as Core Revenues/Core Income and Operating Costs/Total Costs. FY25 figures restated considering changes in the scope of consolidation following BPSO inclusion, see methodological note on slide 2. P&L - (€m) 9M26 Stated 9M25 Restated Delta 9M/9M Delta 9M/9M (%) 3Q26 Stated Delta Q/Q (%) Delta Y/Y (%) Net interest income 3,375.1 3,259.9 115.2 3.5% 1,163.3 3.5% 7.9% Net commission income 2,003.7 1,938.3 65.4 3.4% 650.3 -3.3% 0.6% Core Income 5,378.8 5,198.1 180.6 3.5% 1,813.5 0.9% 5.2% Dividends 49.4 36.9 12.4 33.7% 15.0 -31.7% 34.4% Gains on equity investments measured under the equity method 47.0 41.1 5.8 14.1% 21.5 33.9% 41.8% Net income from financial activities 279.5 118.0 161.5 136.9% 45.1 -82.9% 99.2% Other operating expenses/income 65.5 108.9 -43.4 -39.9% 48.8 -- 133.9% Operating Income 5,820.0 5,503.0 317.0 5.8% 1,943.9 -7.5% 8.3% Staff costs -1,495.3 -1,468.2 -27.1 1.8% -494.4 -1.8% 3.0% Other administrative expenses -642.4 -726.7 84.2 -11.6% -224.8 8.6% -2.3% Depreciations & Amortizations -284.5 -282.5 -2.0 0.7% -97.6 3.1% 0.4% Operating costs -2,422.2 -2,477.4 55.2 -2.2% -816.9 1.4% 1.1% Net Operating Income 3,397.9 3,025.7 372.2 12.3% 1,127.0 -13.1% 14.2% Net impairment losses for credit risk -263.5 -268.1 4.6 -1.7% -86.5 -6.2% -2.3% Operating Income net of LLPs 3,134.4 2,757.5 376.8 13.7% 1,040.5 -13.6% 15.9% Net provisions for risks and charges 1.7 -33.2 35.0 -105.2% -10.2 -165.5% -33.9% Gain (Losses) on Investments -4.2 -15.5 11.3 -73.1% -0.1 -98.4% -91.9% Result from current operations 3,131.9 2,708.8 423.1 15.6% 1,030.2 -15.3% 16.8% Contributions to systemic funds - - 0.0 n.m. - n.m. n.m. Integration costs -70.7 - -70.7 n.m. -16.7 -42.0% n.m. PPA impact -46.3 - -46.3 n.m. -17.0 -- n.m. Profit (Loss) before taxes 3,015.0 2,708.8 306.1 11.3% 996.5 -16.1% 13.0% Taxes -1,037.9 -878.1 -159.8 18.2% -328.4 -22.9% 20.1% Profit (Loss) after tax from discontinued operations - 5.9 -5.9 -100.0% - n.m. -100.0% Profit (Loss) for the period 1,977.1 1,836.5 140.5 7.7% 668.1 -12.3% 8.7% Minority Interests -34.3 -105.9 71.6 -67.6% -1.9 -50.0% -95.1% Profit (loss) for the period pertaining to the parent company 1,942.7 1,730.6 212.1 12.3% 666.1 -12.1% 15.8%
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Sfondo slide Grafici Sfondoslide Scritte Grafici Scritte Scritte Note pagina €bn Simbolo nuovo Mappa Italia 51% Tabella target 24 2025-2026 non-recurring P&L items Non-recurring items Impacts on Net Profit Impacts on P&L items Tax effects 2025 4Q Integration costs +€182.7 m +€99.1 m +€288.6 m +€181.8 m -€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 3Q Integration costs +€10.8 m +€11.0 m +€16.7 m +€17.0 m -€5.9 m -€5.9 mPurchase Price Allocation -€0.1 m €0.0 m
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Sfondo slide Grafici Sfondoslide Scritte Grafici Scritte Scritte Note pagina €bn Simbolo nuovo Mappa Italia 51% Tabella target 25 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 Q/Q Y/Y YTD Direct Deposits 161.0 165.6 165.8 168.7 166.5 167.1 169.1 +1.2% +2.0% +0.2% Interbank Liabilities 10.1 8.4 9.0 10.1 12.5 10.9 9.9 -9.1% +10.5% -1.7% Shareholders' Equity 16.8 16.4 17.1 17.6 18.1 18.1 18.6 +2.8% +8.4% +5.6% Other Liabilities(3) 10.1 10.8 13.0 8.3 9.7 12.5 9.8 -21.6% -24.6% +18.0% Total Liabilities and Shareholders' Equity 198.0 201.3 204.8 204.6 206.9 208.6 207.4 -0.6% +1.2% +1.3% 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 Q/Q Y/Y YTD Customer Loans 124.7 128.5 125.9 128.7 128.8 129.7 130.3 +0.5% +3.5% +1.2% Securities Portfolio 44.0 45.4 45.0 45.7 46.4 47.8 48.2 +0.8% +7.2% +5.4% Interbank Assets(1) 11.3 11.3 13.2 14.2 16.2 16.6 14.7 -11.4% +11.3% +3.6% PPE & Intangible Assets 4.9 5.1 4.9 4.7 4.7 4.6 4.5 -1.9% -7.1% -4.4% Other Assets(2) 13.0 10.8 15.9 11.3 10.8 9.8 9.6 -2.4% -39.5% -14.8% Total Assets 198.0 201.3 204.8 204.6 206.9 208.6 207.4 -0.6% +1.2% +1.3% 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.
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Sfondo slide Grafici Sfondoslide Scritte Grafici Scritte Scritte Note pagina €bn Simbolo nuovo Mappa Italia 51% Tabella target 26 Retail CIB Private & Wealth Manag. Tot. Indirect Deposits(4) €bn 254.8 o.w. Net Inter. Income €m 1,614 77 760 o.w. Net Comm. Income €m 1,136 367 432 Gross Performing Loans €bn 60.2 1.0 55.0 Direct Deposits €bn 93.3 7.7 33.3 RWAs €bn 18.5 1.3 37.3 Core Revenues(1) €m 2,763 444 1,221 Wealth Net Comm. Inc.(2)€m 864 Cost/Income(3) 60% 36% 26% Divisional Database in 9M26 Note: Provisional management data on the commercial perimeter. (1) Core Revenues include also Other Operating Income from Retail (€12.5 m), P&WM (€0.5 m) and CIB (€29.4 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.
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27 Sfondo slide Grafici Sfondoslide Scritte Grafici Scritte Scritte Note pagina €bn Simbolo nuovo Mappa Italia 51% Tabella target Balance sheet (€bn) LCR and NSFR ▪ LCR at 167% at the end of Sep-26 ▪ NSFR at 134% at the end of Sep-26 Balance Sheet dynamics ▪ End of Sep-26 Loan-to-Deposits Ratio at 77.1%, almost stable vs end of Jun-26 ratio, remaining one of the lowest among Italian peers Loan-to-Deposit Ratio 77.1% 133.9 11.5 11.2 38.3 12.6Other Assets Financial Assets at amortised Cost Cash and Cash balances Financial Assets at FV & Hedging Derivatives Loans 160.8 18.2 18.6 0.98.9 Other liabilities Financial liabilities & Hedging Derivatives Equity and Equity Instruments Debt Securities Issued Deposits 127.6 1.8 4.4 140.5 3.9 16.4 Balance sheet: €207.4 bn Loans Breakdown Customers Institutional Repo Depo Breakdown Customers Institutional Repo Balance sheet and liquidity profile KEY HIGHLIGHTS
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Sfondo slide Grafici Sfondoslide Scritte Grafici Scritte Scritte Note pagina €bn Simbolo nuovo Mappa Italia 51% Tabella target 28 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 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% 3,050 2.3% 62 2.1% 68 2.3% 283 10.2% Bad loans 625 0.5% 688 0.5% 766 0.6% 637 0.5% 723 0.6% 768 0.6% 840 0.6% 72 9.4% 74 9.6% 203 31.8% 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% 2,030 1.5% -7 -0.3% 8 0.4% 71 3.6% Past due loans 194 0.2% 197 0.2% 194 0.2% 171 0.1% 162 0.1% 183 0.1% 180 0.1% -3 -1.7% -14 -7.5% 9 5.1% 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% 129,742 97.7% 610 0.5% 4,436 3.5% 1,488 1.2% 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% 132,792 100.0% 672 0.5% 4,504 3.5% 1,771 1.4% Adjustments to loans (€m) coverage 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% 1,629 53.4% 13 0.9% 138 9.3% 168 11.5% Bad loans 429 68.6% 473 68.8% 525 68.5% 454 71.3% 518 71.7% 548 71.3% 589 70.1% 41 7.6% 64 12.2% 135 29.7% Unlikely to pay loans 823 42.2% 803 42.3% 904 44.7% 953 48.6% 949 47.8% 1,004 49.3% 983 48.4% -21 -2.1% 79 8.7% 30 3.2% Past due loans 58 30.3% 63 31.8% 62 32.0% 54 31.8% 50 30.9% 64 34.9% 57 32.1% -7 -9.7% -5 -7.2% 3 5.9% Adjustments to performing loans 892 0.7% 862 0.7% 869 0.7% 822 0.6% 819 0.6% 810 0.6% 843 0.6% 33 3.9% -26 -3.1% 21 2.5% 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% 2,472 1.9% 46 1.9% 112 4.7% 189 8.3% Net exposures (€m) B/D B/D B/D B/D B/D B/D B/D Abs. Chg. Abs. Chg. Abs. Chg. Non Performing Exposures (NPEs) 1,460 1.2% 1,446 1.1% 1,491 1.2% 1,306 1.0% 1,355 1.1% 1,372 1.1% 1,421 1.1% 49 3.5% -70 -4.7% 115 8.8% Bad loans 196 0.2% 215 0.2% 241 0.2% 183 0.1% 205 0.2% 220 0.2% 251 0.2% 31 13.9% 10 4.1% 68 37.1% 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% 1,047 0.8% 14 1.4% -71 -6.3% 41 4.1% Past due loans 136 0.1% 134 0.1% 132 0.1% 117 0.1% 112 0.1% 119 0.1% 123 0.1% 4 2.6% -9 -7.7% 6 4.8% 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% 128,899 98.9% 577 0.5% 4,462 3.6% 1,467 1.2% 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% 130,320 100.0% 626 0.5% 4,392 3.5% 1,582 1.2% 3Q26 3Q26 3Q26 Q/Q 1Q26 2Q25 2Q25 2Q25 Y/Y Q/Q 4Q25 Y/Y Y/Y4Q25 1Q26 1Q26 Q/Q 4Q25 YTD YTD YTD 2Q26 2Q26 2Q261Q25 3Q25 1Q25 1Q25 3Q25 3Q25
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Sfondo slide Grafici Sfondoslide Scritte Grafici Scritte Scritte Note pagina €bn Simbolo nuovo Mappa Italia 51% Tabella target 29 Italy 59.0% France 13.0% Spain 7.5% Germany 6.9% Other 13.6% Italy 69.0% France 10.8% Spain 9.2% Germany 7.0% Other 4.0% Financial Assets: Highlights Govies Geographical Breakdown (%) 0.3 1.8 0.8 20.1 FY26 FY27 FY28 >2028 1.6 5.3 2.9 35.1 FY26 FY27 FY28 >2028 Bonds PTF Geographical Breakdown (%) Bonds PTF Maturities (1) (€bn) Italian Govies Maturities (1) (€bn) Note: Managerial figures. (1) Nominal amounts.
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Sfondo slide Grafici Sfondoslide Scritte Grafici Scritte Scritte Note pagina €bn Simbolo nuovo Mappa Italia 51% Tabella target 30 Commercial dynamics: loans and deposits evolution 60.5% 59.9% 59.7% 59.4% 59.1% 58.6% 57.6% 16.9% 17.6% 18.2% 17.9% 17.9% 18.4% 19.9% 9.2% 9.0% 9.0% 8.9% 8.9% 8.9% 8.8% 13.4% 13.5% 13.2% 13.8% 14.1% 14.1% 13.8% 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 Northern Italy Centre Italy Southern Italy Islands & Foreign countries 128.8 54.1% 53.3% 52.7% 52.9% 52.7% 51.9% 51.0% 22.7% 23.4% 23.6% 23.8% 23.6% 24.6% 25.3% 10.7% 10.7% 10.8% 10.7% 10.8% 10.8% 10.8% 12.5% 12.6% 13.0% 12.6% 12.9% 12.7% 12.9% 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 Northern Italy Centre Italy Southern Italy Islands & Foreign countries 147.3142.2 Commercial deposits by geography (€bn)Commercial loans by geography (€bn) 128.5124.7 146.7 147.4125.9 128.7 150.8 Note: Managerial breakdown figures. 129.7 149.3 150.9130.3
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Sfondo slide Grafici Sfondoslide Scritte Grafici Scritte Scritte Note pagina €bn Simbolo nuovo Mappa Italia 51% Tabella target 31 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 Dow Jones Best-in-Class Europe Index and in the “Sustainability Yearbook 2026” ▪ Included in the MIB ESG Index; FTSE4Good Index; SE (Standard Ethics) indices in the clusters of Italian, Italian Banks, European Banks ▪ Weight of ESG KPIs: 20% for LTI 2025- 2027 and 15% for MBO 2026 – Strategic scorecard ▪ D&I: 40% women in the BoD ▪ D&I: implementation of an operational gender equality plan TOP ESG RATING ▪ 100% use of electricity from renewable sources ▪ More than €3.5 bn of new ESG lending in 9M26 ▪ Approved Transition Plan and Decarbonisation Plan 64 (cat. 2) EEE- ISS Corporate Rating: B-
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Sfondo slide Grafici Sfondoslide Scritte Grafici Scritte Scritte Note pagina €bn Simbolo nuovo Mappa Italia 51% Tabella target 32 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