Earnings release
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bancasistema.it 1 | 17 PRESS RELEASE BANCA SISTEMA: APPROVED RESULTS AS AT 30 SEPTEMBER 2026 • About eight months into the change of control, the integration pathway between Banca Sistema and CF+ is complete: 1) 6 March 2026: successful completion of the voluntary Public Tender and Exchange Offer (PTEO) and acquisition of control of Banca Sistema by CF+ (31 March 2026 for accounting purposes); 2) 11 September 2026: the Bank of Italy authorize s the merger between CF+ and Banca Sistema; 3) 12 October 2026: The Shareholders’ Meetings of Banca Sistema and CF+ approve the merger; 4) 30 October 2026: signing of the deed of merger by incorporation of Banca CF+ into Banca Sistema; 5) 7 November 2026: the merger comes into legal effect; 6) 9 November 2026: the migration of the IT systems is completed. • Significant acceleration of the backbook’s derisking process, via the sale at NBV of Public Administration past- due receivables, leading to an overall 55% reduction in the PA past-due receivables stock, and in the meantime freeing up capital by reducing RWAs, mitigating the contagion effect on the new receivables acquired and reducing the future impacts deriving from calendar provisioning: • 3 September 2026: completion of the securitization of €115 million in past-due receivables, sold at NBV, with senior notes subscribed by Banca Sistema, yielding a CET1 ratio benefit of approx. 34 bps; • 30 October 2026: completion of the sale of €25 million additional PA past-due receivables at NBV, providing a CET1 ratio benefit of approx. 12 bps. • Strengthening of the commercial dynamic , s upported by the integration process and by the progressive mitigation of the impacts generated by the new DoD, also thanks to the active management of the portfolio aiming at reducing the past - due loan stock: • Factoring: significant growth in tur nover at €4,263 million (+22% y/y), driven mainly by the P harma/PA and Private debtors business lines , in particular in the entertainment industry. Tax receivables have reported a slight dip, while the expected runoff of Ecobonus volumes was confirmed (-14% y/y); • CQ: new business at €113 million (+11% y/y) and loan stock at €569 million (- 8% y/y) as a result of collections exceeding new business.
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bancasistema.it 2 | 17 PRESS RELEASE • Presentation of the new Strategic Plan scheduled in 1Q27, upon completion with the Bank of Italy of the procedure to define the new Group’s post-merger capital requirements. • 9M26 net income at €1.6 million, down compared to the same period last year, mainly as a result of negative non -recurring items, including the assurance activity completed by the Parent Company, the costs tied to the PTEO and the update of the backtesting models for the accrual of late payment interest following the securitization of past-due loans. Net of the above -mentioned items, the 9M26 net income would have come to €12.0 million. The CEO and General Manager, Iacopo De Francisco , comment ing on the results, stated: “The first nine months of the year mark a decisive milestone in the building of the new Group. In about eight months since the change of control, we have completed the integration process between CF+ and Banca Sistema, fulfilling on schedule all key regulatory and corporate steps leading to the merger, which will take legal effect on 7 November. In parallel, we significantly accelerated the portfolio de-risking process through sales of past- due receivables from the Public Administration totaling €140 million, incurring no losses. These transactions significantly reduced the stock of past- due public sector loans , yielding benefits in terms of RWAs and capital, and will help contain the impacts of the DoD regulations while supporting future loan growth through a substantial reduction in the contagion effect that past-due loans held over performing loans. On the commercial front, performance confirms positive momentum and the strength of our core business. Strong growth in factoring turnover demonstrates the Bank’s ability to generate new business volume s and provides a solid foundation for the Group’s future development. We are now focusing on the next phase , with the goal of fully leveraging the complementarities of the two businesses and building a more solid, efficient, and diversified bank. The next step will be the presentation of the new Strategic Plan, scheduled for the first quarter of 2027, which will define the development priorities and goals of the Group post- merger, aiming to combine sustainable growth, risk discipline, and long-term value creation.”
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bancasistema.it 3 | 17 PRESS RELEASE Milan, 4 November 2026 The Board of Directors of Banca Sistema has approved the consolidated financial statements as at 30 September 2026, reporting a net income for the period of €1.6 million, as compared with €21.0 million in the same period of 2025. This figure includes certain non- recurring items, such as the impact of assurance (increased loan loss provisions and provisions for risks and charges totaling €-11.9 million) completed by the Parent company, the update of the backtesting model for the accrual of late payment interest following the sale of the past-due receivables pool in 3Q26 (€-6,3 million), the costs tied to the PTEO (€- 1.5 million) partly offset by the capital gain generated by the disposal of the KK stake (+€2.5 million). Excluding these non- recurring items, net income would amount to €1 2.0 million, as compared with €21.0 million reported in 9M25, Business Performance The factoring business line reported a turnover of €4,263 million, showing a steep growth (+22% y/y) driven by greater volumes with both private sector debtors, mainly in the entertainment industry (31% of total turnover), and with PA debtors, thanks also to the volume increase generated by the pharma business line. This figure includes also the volumes originated in Spain, amounting to €466 million (+19% y/y), while the superbonus receivables’ turnover is decreasing, as the tax benefit is no longer available. On 30 September 2026, outstanding factoring receivables stood at €1,475 million, on the rise from €1,460 million on 30 September 2025 and compared with 31 December 2025 (€1,387 million), driven by greater purchase volumes and lower recourse to loan reselling. When including the “superbonus” tax receivables (classified under other assets), factoring receivables on 30 September 2026 came in at €1,637 million (€1,768 million on 30 September 2025 and €1,701 million on 31 December 2025). Non-recourse factoring, accounting for 70% of outstanding receivables under management accounts1 (up compared with 56 % on 30 September 2025), included tax receivables (accounting for 8% of receivables, as compared with 14% on 30.09.2025). 1 Equal to 1,572 million on 30.09.2026, 1,363 million on 31.12.2025 and 1,515 million on 30.09.2025.
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bancasistema.it 4 | 17 PRESS RELEASE As to the CQ business line, the Bank granted loans for €113 million (financed amount), up by 11% y/y (€102 million on 30.09.2025), exclusively originated by the Direct channel (QuintoPuoi). The loan stock on 30 September 2026 totaled 569 million, -8% y/y, driven by collections, as during the period there were no loan disposals (€22 million in the same period last year). Operating results as at 30 September 2026 Net interest income grew by +9% y/y, driven by the lower cost of funding and the related decline in interest expense, which more than offset the decline in interest income caused partly by non-recurring items. Adjusted net interest income (net interest income + superbonus trading) reported a decline y/y, coming in at €52.3 million vs. €58.4 million in 9M25. The dynamic reflects the natural and expected lower contribution from the Superbonus trading, amounting to €13.6 million in 9M26 (€-9.2 million y/y), and the decline in interest income, totaling €112.2 million (€-10.7 million y/y). The latter was mostly affected by the lower contribution from accruals on late- payment interest (€-15.4 million y/y), partly due to the update of the backtesting model following the sale in 3Q26 of a pool of PA past-due receivables for €115 million. The drop in interest income was partially offset by the positive dynamic of the cost of funding, which produced a significant drop in interest expense (€73.5 million vs €87.3 million, equal to -16% y/y). On 30 September 2026, the component tied to late payments under legal action under Lgs. D. 231/02 (made up of late-payment interest and compensation fees) came in at €3 million (€19.1 million in 9M25), of which: • €3.7 million from current recovery estimates (€12.5 million in 9M25); • -€6.3 million from the update of recovery estimates and expected recovery time (€0.5 million on 30 September 2025);
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bancasistema.it 5 | 17 PRESS RELEASE • €5.6 million (€6.4 million in 9M25) resulting from the difference between the amount recovered over the period, totaling €13 million (€12.4 million in 9M 25), and the accrued amount reported in the prior financial years. The late-payment interest stock under Lgs.D. 231/02 accrued on 30 September 2026, and relevant to the accrual model, came in at €79 million (€131 million at year-end 2025), rising to €132 million when including late -payment interest tied to municipalities under conservatorship, for which no late -payment interest is allocated in the budget, except for cases subject to ECHR judgments, while the amount already recognized totaled €45.3 million. The decline in the late-payment interest stock, already recognized through profit and loss , was influenced by the sale of €115 million of past-due receivables to Janus SPV, as illustrated above. The total cost of funding, amounting to 2.60%, reported a steep decline y/y (3.01% on 30 September 2025). The cost of the wholesale component came to 2.4% (2.7% in 9M25) while for the retail component it stood at 2.7% (3.1% in 9M25). Net fees and commissions, at €6.0 million, were up by 15.2% y/y, driven by the increase in factoring commissions and by the advancement of the servicing business tied to third- party securitizations where Banca Sistema acts as the originator. Total income, amounting to €62 .7 million, declined by 19.3% y/y, in spite of the good performance of core revenues, supported by the growth of interest income (+8.7% y/y) and of fee and commission income (+15.2% y/y). The decline was mainly driven by: (i) the fall in revenues from Superbonus receivables to €13.6 million, as compared with €22.8 million in 9M25, in line with the progressive run-off of the portfolio and with the downsizing of the secondary market following the conclusion of tax incentives; (ii) reduced gains from the securities portfolio o r from the sale of factoring receivables or tied to the CQ loan portfolio, which over the period stood at € 4.5 million (€13.5 million in 9M25). On 30 September 2026, loan loss provisions and provisions for risks and charges added up to €20.9 million, on the rise y/y (€13.1 million on 30 September 2025) as a result
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bancasistema.it 6 | 17 PRESS RELEASE of the assurance activity carried out by the Parent company in 1H26 that led to an increase in impairments and in provisions for risks and charges totaling €11.9 million. More specifically, higher impairments and provisions to risks and charges stemmed primarily from the in- depth reviews conducted o n the credit assessment and classification processes, with specific reference to certain areas of the New Definition of Default, litigations with unfavorable rulings and settlements. These in-depth reviews are to be linked to the broader coordination and alignment process between the two entities (considering the merger that will take place next 7 November 2026), also in light of the results of the latest inspection involving Banca Sistema conducted by the Supervisory Authority. The cost of risk 2 tied to customer loans thus came in at 111bps (95bps on a normalized basis). The Group’s headcount (FTE) added up to 210 employees, on a downtrend compared with 30 September 2025. Personnel expenses, at €17.6 million, fell by 2% y/y, mainly as a result of the lower number of FTEs and both periods under examination do not include the provision for the variable wage component, in accordance with the Bank of Italy’s guidelines. Other administrative expenses (€26,6 million) were flat y/y thanks to lower management and development consulting expenses, offsetting higher expenses related to lending (collection, insurance), and higher IT expenses. The aggregate line-item total operating costs added up to €43.4 million, down by 9% y/y, mainly driven by lower risk provisions and despite the impact of integration costs (€1.5 million). 2 The cost of risk includes loan loss provisions and provisions for risks and charges
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bancasistema.it 7 | 17 PRESS RELEASE Net income added up to €1.6 million, and was negatively affected by the above-described impacts, namely the assurance for €-11.9 million, lower late-payment interest tied to the accrual component as a result of the updating of the backtesting model following the sale of the past-due receivables pool (€-6.3 million), costs related to the PTEO (€-1.5 million), while it was positively impacted by the capital gain generated by the sale of the stake held in KK (€+2.5 million). Net of these one-off items, the normalized net income would come to €12.0 million. Key balance sheet items as at 30 September 2026 The securities portfolio, which includes almost exclusively Italian Government bonds, came in at €1,128 million (€1,133 million on 30 June 2026), of which €148 million classified as HTCS (€1,083 million on 30 June 2026), with a duration of around 4 months (24 months on 30 June 2026). On 30 September 2026, the HTC portfolio totaled €979 million, with a duration of 24 months (€50 million on 30 June 2026, with a duration of 20 months). The change in the securities portfolio composition in terms of accounting classification stems from the decision made by the Board of Directors of Banca Sistema on 24 June 2026 to approve a change in the management model of its government bond portfolio. This decision is part of the broader effort to align governance frameworks, investment policies, and financial management processes with the guidelines adopted at the Group level and reflects the objective of moving toward a management model primarily focused on collecting contractual cash flows and generating a stable interest income stream over the medium to long term. In this context, the Bank resolved to reclassify its entire government bond portfolio previously managed under the Hold to Collect and Sell (HTCS) business model into the Hold to Collect (HTC) model. In compliance with IFRS 9, the reclassification came into effect on 1 July 2026 (“reclassification date”), corresponding to the first date of the reporting period following the date of approval of the business model change. Up until 30 June 2026, in-scope financial assets were still classified and measured under the category “financial assets measured at fair value through other comprehensive income (FVOCI)". On the reclassification date, the
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bancasistema.it 8 | 17 PRESS RELEASE book value of financial assets that transitioned from the FVOCI category to the Amortized Cost category totaled €1,083.5 million. Financial assets measured at amortized cost (€3,816 million) showed a marked increase over 30 June 2026 (€2 ,723 million), driven by the above -mentioned reclassification of government bonds, and included primarily: (i) factoring receivables (€1,475 million), which grew only by 1% y/y, despite the robust volumes, due to the sale of the factoring past-due receivables for €115 million in 3Q26, (ii) salary-backed loans, i.e., CQS (€569 million), down by 8% y/y, (iii) State-guaranteed loans to SMEs (€148 million)3, down by 23% y/y due to the uncertain regulatory framework in the first months of 2026 that was then partly clarified. As a reminder, the factoring receivables aggregate number does not include Superbonus receivables, which on 30 September 2026 amounted to €163 million (€308 million at the end of 9M25). The gross non-performing loans stock, at € 357 million, declined by 16% year to date. The drop in non-performing loans would have been even more pronounced had there not been an increase in NPLs in 2Q26 as a result of assurance activities . These activities have now been completed and led to €40 million in loans being reclassified as past-due. More specifically, gross bad loans stood at €128 million (€131 million in FY25), unlikely-to-pay loans totaled €69 million (€66 million in FY25), while past-due loans went from €221 million 4 (FY25) down to €161 million (€249 million in 1H26). The marked drop in NPLs since the beginning of the year, in particular past-due loans, was made possible by the sale of the past- due receivables pool totaling €115 million, which was completed at the end of 3Q26 ( Securitisation of Non -Performing Receivables due from the Public Administration) . T his activity continued in 4Q26 with the sale on 30 October of an additional past-due receivables pool amounting to €25 million (Disposal of Past-Due PA Receivables). The two transactions were particularly significant as the y drastically reduce PA past -due exposures (-55% as compared to June 2026), confirming the correct accounting treatment of these exposures and the related late -payment interest (both sales were carried out at 3 State-guaranteed loans to SMEs are granted to factoring clients. 4 The figure includes Gruppo KK.
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bancasistema.it 9 | 17 PRESS RELEASE book value), they mitigate the contagion effect of these NPLs on performing loans to the same counterparties, and enable the Bank to increase loan origination without risking an increase in past-due loans. Last but not least, these transactions drastically reduce the potential future impact of calendar provisioning on thes e exposures, providing greater visibility on the future evolution of capital ratios. On 30 September 2026, r etail funding accounted for 74% of total funding (76% on 30.06.2026 and 74% on 30.09.2025), and added up to €2,824 million. Under the line-item Financial liabilities measured at amortized cost (€3,803 million), Due to banks decreased compared with 30 June 2026 (€31 million vs €465 million), due to the absence of repurchase agreements and to the exposure to the ECB. Due to customers increased compared to 30 June 2026 (€3,626 million vs €3,033 million on 30.06.2026), basically thanks to the steep increase in repos (€781 million vs €219 million on 30.06.2026); time deposits have increased compared to 30 June 2026 (€2,520 million vs €2,484 million), while current accounts remained practically stable (€276 million vs €2 85 million on 30.06.2026). Debt securities (€146 million) reported a slight decline over 30.06.2026 (€159 million). After Banca Sistema’ joined the “Gruppo Banca CF+” banking group, as of 31 March 2026 capital ratios are calculated and reported on a stand-alone basis, as the consolidated ratios are reported by the Parent company Banca CF+. Total own funds on 30 September 2026 added up to €302 million; stand-alone capital ratios came in as follows: • CET1 ratio: 15.6% (15.0% in 1H26) • TIER 1 ratio: 18.3% (17.6% in 1H26) • Total Capital ratio: 18.3% (17.6% in 1H26) • RWA: 1,648 million (1,716 million in 1H26) The increase in capital ratios compared to 30 June 2026 was mainly due to the RWA decline caused by the sale of the past-due loan portfolio totaling €115 million.
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bancasistema.it 10 | 17 PRESS RELEASE Significant events after the reporting period On 12 October 2026, the Extraordinary General Meeting of Shareholders of Banca Sistema S.p.A. approved the merger plan of Banca CF+ S.p.A. into Banca Sistema, including the exchange ratio of no. 1.35 ordinary shares of Banca Sistema for every 1 ordinary share of Banca CF+ cancelled upon completion of the merger. On the same date, the Extraordinary General Meeting of Shareholders of Banca CF+ also approved the merger plan and the exchange ratio. The share exchange will be executed via: (i) the allocation of 68,899,562 ordinary shares of Banca Sistema currently held by Banca CF+ to Banca CF+ shareholders; (ii) the allocation of an additional 50,246,553 newly issued ordinary shares of Banca Sistema, carrying regular dividend rights, to Banca CF+ shareholders; and (iii) the cancellation of the ordinary shares of Banca CF+. Subject to the fulfillment of the conditions precedent set out in the merger plan, the merger will take legal effect from 00:01 on 7 November 2026, or from any other date specified in the deed of merger. Further details, the merger plan and related documentation are available at Banca Sistema’s registered office, on its corporate website, and via the authorized storage platform “1info”. For accounting and tax purposes, the merger will take effect on 1 November 2026. Also on 12 October 2026, the Shareholders' Meeting of Banca Sistema approved amendments to Article 5 of the Articles of Association to reflect the capital increase required to service the exchange ratio, as well as the removal of the par value of Banca Sistema shares. Furthermore, the Extraordinary General Meeting of Shareholders of Banca Sistema resolved to grant the Board of Directors authorization, pursuant to Article 2443 of the Italian Civil Code, to increase the share capital for cash in one or more tranches, on a divisible basis. This authorization allows for capital increases either respecting pre -emptive rights under Article 2441 of the Italian Civil Code or excluding pre-emptive rights pursuant to Article 2441, paragraphs 4 (first and second sentences) and 5, of the Italian Civil Code. The authorization
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bancasistema.it 11 | 17 PRESS RELEASE covers a total maximum amount of €100,000,000.00 (including any share premium), exercisable on one or more occasions within five years of the resolution date, subject to the merger being completed. Consequently, the Shareholders' Meeting resolved to amend Article 5 of the Articles of Association accordingly. On 30 October, Banca Sistema S.p.A. and Banca CF+ S.p.A. executed the deed of merger by incorporation of Banca CF+ into Banca Sistema (the “Merger”), implementing the resolutions approved by the Extraordinary Shareholders’ Meetings of the companies participating in the Merger on 12 October. Lastly, also on 30 October, Banca Sistema completed the disposal of a portfolio of past-due receivables due from the Italian Public Administration for a consideration of €25 million, corresponding to the portfolio’s net book value. *** Outlook and Key Risks and Uncertainties During the first nine months of FY 2026, capital optimization actions continued, allowing the Bank to mitigate the adverse impact on capital ratios resulting from the reclassification to default of certain credit exposures. This reclassification was carrie d out to reflect the observations communicated by the Bank of Italy on 20 December 2024, regarding the Bank’s rules and practices, which were deemed by the Supervisory Authority to be not fully compliant with the EBA Guidelines on the application of the Definition of Default. The current capital position, combined with joining the Banca CF+ Group, will enable the Bank to continue supporting its factoring operations across both the public administration and entertainment segments. Several management actions, along with the imple mentation of the merger in the fourth quarter of 2026, are expected to contribute to strengthening the Bank’s overall position, along strategic guidelines that will be more fully defined upon establishing the strategic direction of the combined entity post-merger.
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bancasistema.it 12 | 17 PRESS RELEASE Statement of the Financial reporting officer The Board of Directors, with the favourable opinion of the Board of Statutory Auditors, resolved to appoint Alfredo Langella, Head of Administration, Planning and Supervisory Reporting at Banca Sistema, as Manager responsible for preparing the Company’s financial reports, pursuant to Article 154 -bis of the Italian Consolidated Law on Finance (TUF), replacing Ilaria Bennati, whose employment relationship with Banca Sistema has ended. Following the assessment carried out by the Nomination Committee, the Board of Directors verified that Alfredo Langella meets the applicable professional and integrity requirements, as well as the criteria of propriety and competence, and confirmed his suitability to serve as Manager responsible for preparing the Company’s financial reports. As of today, Alfredo Langella does not hold any ordinary shares in Banca Sistema. The Financial Reporting Officer, responsible for preparing the Company’s financial reports , has certified, pursuant to Article 154 -bis, paragraph 2, of the Italian Consolidated Law on Finance (TUF), that the accounting information contained in this press release corresponds to the documented results, books and accounting records. Attachments • Banca Sistema consolidated balance sheet • Banca Sistema consolidated income statement • Banca Sistema reclassified consolidated income statement • Banca Sistema asset quality
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bancasistema.it 13 | 17 PRESS RELEASE BANCA SISTEMA GROUP: CONSOLIDATED BALANCE SHEET Figures in thousands of Euro 30/09/2026 30/06/2026 31/03/2026 31/12/2025 Difference Difference A B A - B A - B Col0 ASSETS Col12 Col122 Col13 Col2 Col4 Col5 10. Cash and cash equivalents 102,192 77,470 121,211 87,791 14,401 16% 20. Financial assets measured at fair value through profit or loss 1,234 1,717 1,137 1,621 (387) (24%) c) other financial assets mandatorily measured at fair value 1,234 1,254 1,137 1,561 (327) (21%) 30. Financial assets held to collect and sell (HTCS) 152,459 1,103,708 1,261,642 1,186,326 (1,033,867) (87%) 40. Financial assets held to collect (HTC) 3,815,860 2,723,128 2,765,174 2,610,862 1,204,998 46% a) Loans and advances to banks 287,186 19,505 18,487 19,161 268,025 nm b) Loans and advances to customers 3,528,674 2,703,623 2,746,687 2,591,701 936,973 36% of which: Factoring 1,474,660 1,584,791 1,683,409 1,387,486 87,174 6% of which: Salary-/pension-backed loans (CQS/CQP) 569,439 574,515 571,984 572,943 (3,504) (1%) 0 0 135,027 155,058 (155,058) (100%) of which: Securities (*) 991,765 50,077 49,989 50,020 941,745 nm 50. Hedging derivatives 961 0 0 0 961 nm 60. Fair value change of financial assets in hedged portfolios (+/- ) 0 872 631 2,146 (2,146) (100%) 70. Equity investments 944 953 969 985 (41) (4%) 90. Property, plant and equipment 52,924 53,247 53,388 57,582 (4,658) (8%) 100. Intangible assets 4,055 4,054 4,064 34,116 (30,061) (88%) - Goodwill 3,920 3,920 3,920 30,690 (26,770) (87%) 110. Tax assets 15,154 20,730 15,494 13,055 2,099 16% 120. Non-current assets and disposal groups classified as held for s 0 0 206,786 0 - nm 130. Other assets 183,888 203,211 256,893 343,930 (160,042) (47%) Total Assets 4,329,671 4,189,090 4,687,389 4,338,414 (8,743) (0%) Colonna1 LIABILITIES AND EQUITY Colonna4 Colonna43 Colonna42 Colonna5 Colonna7 Colonna8 10. Financial liabilities at amortised cost 3,802,564 3,656,988 4,044,055 3,720,033 82,531 2% a) Due to banks 31,013 465,090 243,845 69,199 (38,186) (55%) b) Due to customers 3,625,987 3,033,202 3,644,158 3,441,519 184,468 5% of which: Term Deposits 2,519,811 2,483,676 2,350,437 2,261,130 258,681 11% of which: Currents Accounts 276,499 284,518 274,489 309,845 (33,346) (11%) c) Debt securities issued 145,564 158,696 156,052 209,315 (63,751) (30%) 20. Financial liabilities held for trading 3,541 116 599 0 3,541 nm 40. Hedging derivatives 0 788 598 2,078 (2,078) (100%) 50. Fair value change of financial liabilities in hedged portfolios (+ 846 0 0 0 846 nm 60. Tax liabilities 15,484 23,943 32,064 50,697 (35,213) (69%) 70. Liabilities associated with non-current assets held for sale and 0 0 71,337 0 - nm 80. Other liabilities 134,020 132,051 147,751 158,268 (24,248) (15%) 90. Post-employment benefits 3,385 3,504 4,314 5,242 (1,857) (35%) 100. Provisions for risks and charges 39,411 39,044 40,970 43,032 (3,621) (8%) 140. Equity instruments 45,500 45,500 45,500 45,500 - 0% 120. + 150. + 160. + 170. + 180. Share capital, share premiums, reserves, valuation reserves and treasury shares 283,279 282,623 278,461 260,633 22,646 9% 190. Minority interests (+/-) 31 31 17,926 17,163 (17,132) (100%) 200. Profit (loss) for the period (+/-) 1,610 4,502 3,814 29,042 (27,432) (94%) Total Liabilities and Equity 4,329,671 4,189,090 4,687,389 4,338,414 (8,743) (0%)
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bancasistema.it 14 | 17 PRESS RELEASE BANCA SISTEMA GROUP: CONSOLIDATED INCOME STATEMENT Figures in thousands of Euro 30/09/2026 30/09/2025 Difference Difference % A B A - B A - B 10. Interest income 112,198 122,885 (10,687) (9%) 20. Interest expenses (73,518) (87,299) 13,781 (16%) 30. Net interest income 38,680 35,586 3,094 9% 40. Fee and commission income 18,658 17,565 1,093 6% 50. Fee and commission expense (12,627) (12,329) (298) 2% 60. Net fee and commission income 6,031 5,236 795 15% 70. Dividends and similar income 227 227 0 0% 80. Net income from trading 13,658 23,147 (9,489) (41%) 90. Fair value adjustments in hedge accounting 48 31 17 54% 100. Profits (Losses) on disposal or repurchase of: 4,510 13,509 (8,999) (67%) a) financial assets measured at amortised cost 1,990 4,856 (2,866) (59%) b) financial assets measured at fair value through other comprehensive income 2,520 8,628 (6,108) (71%) c) financial liabilities - 25 (25) (100%) 110. Net gains (losses) on other financial assets/liabilities at fair value through profit or loss (419) - (419) nm b) other financial assets mandatorily measured at fair value (419) - (419) nm 120. Operating income 62,735 77,736 (15,001) (19%) 130. Net impairment losses on loans (20,737) (8,024) (12,713) nm a) financial assets measured at amortised cost (21,000) (8,093) (12,907) nm b) financial assets measured at fair value through other comprehensive income 263 69 194 nm 140. Profits (Losses) on changes in contracts without derecognition (91) 1 (92) nm 150. Net operating income 41,907 69,714 (27,807) (40%) 190. a) Staff costs (17,643) (17,919) 276 (2%) 190. b) Other administrative expenses (26,557) (25,274) (1,283) 5% 200. Net allowance for risks and charges (92) (5,077) 4,985 (98%) a) commitments and guarantees given (13) 21 (34) nm b) other net provisions (79) (5,098) 5,019 (98%) 210. + 220. Net impairment losses on property and intangible assets (1,477) (1,166) (311) 27% 230. Other net operating income/expense 2,405 1,761 644 37% 240. Operating expenses (43,364) (47,675) 4,311 (9%) 250. Profits of equity-accounted investees (41) (18) (23) nm 290. Pre-tax profit from continuing operations (1,498) 22,021 (23,519) nm 300. Tax expenses (income) for the period from continuing operations (647) (8,856) 8,209 (93%) 310. Profit after tax from continuing operations (2,145) 13,165 (15,310) nm 320. Income (Loss) after tax from discontinued operations 3,755 9,671 (5,916) (61%) 330. Profit (Loss) for the period 1,610 22,836 (21,226) (93%) 340. Profit (Loss) for the period attributable to the Minority interests - (1,837) 1,837 (100%) 350. Profit (Loss) for the period attributable to the 1,610 20,999 (19,389) (92%)
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bancasistema.it 15 | 17 PRESS RELEASE BANCA SISTEMA: RESTATED CONSOLIDATED INCOME STATEMENT Figures in thousands of Euro 30/09/2026 30/09/2025 Difference Difference % A B A - B A - B 10. Interest income 112,198 122,885 (10,687) (9%) 20. Interest expenses (73,518) (87,299) 13,781 (16%) 30. Net interest income 38,680 35,586 3,094 9% Net income from Superbonus trading 13,576 22,800 (9,224) (40%) Net interest income adjusted 52,256 58,386 (6,130) (10%) 40. Fee and commission income 18,658 17,565 1,093 6% 50. Fee and commission expense (12,627) (12,329) (298) 2% 60. Net fee and commission income 6,031 5,236 795 15% 70. Dividends and similar income 227 227 0 0% 80. Net income from trading 82 347 (265) (76%) 90. Fair value adjustments in hedge accounting 48 31 17 54% 100. Profits (Losses) on disposal or repurchase of: 4,510 13,509 (8,999) (67%) a) financial assets measured at amortised cost 1,990 4,856 (2,866) (59%) b) financial assets measured at fair value through other comprehensive income 2,520 8,628 (6,108) (71%) c) financial liabilities - 25 (25) (100%) 110. Net gains (losses) on other financial assets/liabilities at fair value through profit or loss (419) - (419) nm b) other financial assets mandatorily measured at fair value (419) - (419) nm 120. Operating income 62,735 77,736 (15,001) (19%) 130. Net impairment losses on loans (20,737) (8,024) (12,713) nm a) financial assets measured at amortised cost (21,000) (8,093) (12,907) nm b) financial assets measured at fair value through other comprehensive income 263 69 194 nm 140. Profits (Losses) on changes in contracts without derecognition (91) 1 (92) nm 150. Net operating income 41,907 69,714 (27,807) (40%) 190. a) Staff costs (17,643) (17,919) 276 (2%) 190. b) Other administrative expenses (26,557) (25,274) (1,283) 5% 200. Net allowance for risks and charges (92) (5,077) 4,985 (98%) a) commitments and guarantees given (13) 21 (34) nm b) other net provisions (79) (5,098) 5,019 (98%) 210. + 220. Net impairment losses on property and intangible assets (1,477) (1,166) (311) 27% 230. Other net operating income/expense 2,405 1,761 644 37% 240. Operating expenses (43,364) (47,675) 4,311 (9.04%) 250. Profits of equity-accounted investees (41) (18) (23) nm 290. Pre-tax profit from continuing operations (1,498) 22,021 (23,519) nm 300. Tax expenses (income) for the period from continuing operations (647) (8,856) 8,209 (93%) 310. Profit after tax from continuing operations (2,145) 13,165 (15,310) nm 320. Income (Loss) after tax from discontinued operations 3,755 9,671 (5,916) (61%) 330. Profit (Loss) for the period 1,610 22,836 (21,226) (93%) 340. Profit (Loss) for the period attributable to the Minority interests - (1,837) 1,837 (100%) 350. Profit (Loss) for the period attributable to the 1,610 20,999 (19,389) (92%)
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bancasistema.it 16 | 17 PRESS RELEASE BANCA SISTEMA GROUP: ASSET QUALITY Figures in thousands of Euro 30/09/2026 Gross Impairment Net Status Exposure Losses Exposure Gross Non Performing Exposures 357,366 74,649 282,717 Bad loans 127,917 40,332 87,585 Unlikely to pay 68,533 32,730 35,803 Past-dues 160,916 1,587 159,329 Performing Exposures 2,261,653 7,461 2,254,192 Total Loans and advances to customers 2,619,019 82,110 2,536,909 30/06/2026 Gross Impairment Net Status Exposure Losses Exposure Gross Non Performing Exposures 448,399 72,406 375,993 Bad loans 125,080 33,287 91,793 Unlikely to pay 74,587 37,541 37,046 Past-dues 248,732 1,578 247,154 Performing Exposures 2,285,137 7,582 2,277,555 Total Loans and advances to customers 2,733,536 79,988 2,653,548 31/03/2026 Gross Impairment Net Status Exposure Losses Exposure Gross Non Performing Exposures 400,234 61,386 338,848 Bad loans 127,724 33,788 93,936 Unlikely to pay 73,906 26,004 47,902 Past-dues 198,604 1,594 197,010 Performing Exposures 2,363,645 5,794 2,357,851 Total Loans and advances to customers 2,763,879 67,180 2,696,699 31/12/2025 Gross Impairment Net Status Exposure Losses Exposure Gross Non Performing Exposures 425,612 61,213 364,399 Bad loans 131,345 34,423 96,922 Unlikely to pay 73,762 25,159 48,603 Past-dues 220,505 1,631 218,874 Performing Exposures 2,182,597 5,315 2,177,282 Total Loans and advances to customers 2,608,209 66,528 2,541,681 31/12/2024 Gross Impairment Net Status Exposure Losses Exposure Gross Non Performing Exposures 332,802 57,486 275,316 Bad loans 179,957 38,499 141,458 Unlikely to pay 51,716 18,353 33,363 Past-dues 101,129 634 100,495 Performing Exposures 2,429,261 7,666 2,421,595 Total Loans and advances to customers 2,762,063 65,152 2,696,911
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bancasistema.it 17 | 17 PRESS RELEASE Contacts: Investor Relations Christian Carrese Tel. +39 02 80280403 E-mail christian.carrese@bancasistema.it Media Relations Patrizia Sferrazza Tel. +39 02 80280354 – Cell +39 335 7353559 E-mail patrizia.sferrazza@bancasistema.it Banca Sistema S.p.A. Banca Sistema, founded in 2011 and listed since 2015 on the Euronext Star Milan segment of the Italian Stock Exchange, is a financial institution specializing in the purchase of trade receivables and tax credits. The Bank helps to support corporate liquidity by offering tax and trade receivables management services across various sectors, including the soccer and entertainment industries in Italy and abroad, and operates in Spain and Portugal within the healthcare and public administration sectors. It is also active in salary and pension-backed loans and, in partnership with leading operators, in personal loans, mortgages, and leasing. The offer includes banking services and funding products, such as current accounts, term deposit and securities accounts, as well as securitization servicing, credit management and collection, guarantees and sureties and certification of public administration receivables. Banca Sistema S.p.A. is a company belonging to the Banca CF+ Group, registered in the Register of Banking Groups, and is subject to management and coordination of Banca CF+ S.p.A.