Slides
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November 5th 2026 3Q26 Results
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Disclaimer • “Pursuant to the paragraph 2 of Article 154 bis of the Consolidated Law on Financial Intermediation (Legislative Decree no. 58 of February 24, 1998), Erick Vecchi, in his capacity as manager responsible for the preparation of FinecoBank S.p.A.’s (the “Company”)’s financial reports, declares that accounting information contained in this Presentation reflects the Company’s documented results, books and accounting records”. • This Presentation may contain written and oral “forward-looking statements”, which include all statements that do not relate solely to historical or current facts and which are therefore inherently uncertain. All forward-looking statements rely on a number of assumptions, expectations, objectives, estimates, forecasts, projections and provisional data concerning future events and are subject to a number of uncertainties and other factors, many of which are outside the control of the Company. There are a variety of factors that may cause actual results and performance to be materially different from the explicit or implicit express or implied contents of any forward-looking statements and thus, therefore, such forward-looking statements are not a reliable indicator of future performance. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable law. The information and opinions contained in this Presentation are provided as at the date hereof and are subject to change without notice. Information, opinions, valuations and forecasts contained in this Presentation have not been audited by any independent body. Neither this Presentation nor any part of it nor the fact of its distribution may form the basis of, or be relied on or in connection with, any contract or investment decision. • The information, statements and opinions contained in this Presentation are for information purposes only and do not constitute a public offer under any applicable legislation or an offer to sell or solicitation of an offer to purchase or subscribe for securities or financial instruments or any advice or recommendation with respect to such securities or other financial instruments. None of the securities referred to herein have been, or will be, registered under the U.S. Securities Act of 1933, as amended, or the securities laws of any state or other jurisdiction of the United States or in Australia, Canada or Japan or in any other jurisdiction where such an offer or solicitation would be unlawful (the “Other Countries”), and there will be no public offer of any such securities in the United States or in the Other Countries. This Presentation does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States or in the Other Countries. • This Presentation has been prepared on a voluntary basis and, therefore, FinecoBank is not bound to prepare similar presentations in the future, unless if provided by law. No guarantee, express or implied, is given by the Company with reference to the reliability, accuracy or completeness of information or opinions contained in this Presentation. Neither the Company nor any of its representatives, directors or employees shall be liable, at any time, in connection with this Presentation or any of its contents for any indirect or incidental damages including, but not limited to, loss of profits or loss of opportunity, or any other liability whatsoever which may arise in connection with any use and/or reliance placed on it. • For the above-mentioned purposes, "Presentation" means this document, and any oral presentation, any question-and-answer session and any written or oral material discussed following the distribution of this document. Information and any content of this Presentation are the exclusive property of the Company and the partial or total publication, duplication and/or transmission of the same are forbidden without the prior written consent of the Company. By participating in this Presentation and accepting a copy of this Presentation, you agree to be bound by the foregoing limitations regarding the information disclosed in this Presentation. 2
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Agenda 9M26 Snap and Guidance 4 Section 1: Financial results 8 Section 2: Commercial results 16 Section 3: Growth levers 23 Key messages: business model 29 Annex 34 3
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3 Q 2 6 A T A G L A N C E 3Q26 net profit +15.6%, every engine growing double digit in 9M26 NET PROFIT ADJ. 531 mln +10.6% y/y REVENUES COST / INCOME ADJ. OPERATING COSTS ADJ. NET SALES NEW CLIENTS OCTOBER 2026 4 9M26 188 mln +15.6% y/y 3Q26 1,086 mln +12.0% y/y 9M26 372 mln +14.4% y/y 3Q26 26% -0.8 p.p. y/y 9M26 -283 mln +5.2% y/y 9M26 ex.additional growth costs 13.1 bln +39.0% y/y 9M26 184k +27.3% y/y 9M26 1.7 bln o/w: +28% y/y Net sales AUC: 1.9 bn AUM: 0.4 bn Deposits: -0.65 bn 25.8k +34% y/y New clients 26mln Brokerage revenues (1) (1) (1) (1) 9M26 non recurring items: -4.6 mln gross (-3.0 mln net) in 2Q26 due to mutual termination agreement with an executive (2) Costs related to the growth of the business: mainly marketing (-6.9 mln y/y), A.I. (-1.5 mln y/y), FAM (-0.4 mln y/y) and pan-EU platform set-up (-0.7 mln y/y) (3) Avg 12 months CET1 23.39% LEVERAGE RATIO 5.19% NSFR 447% LCR 991% (3) BUILDING EPS MOMENTUM AND OPERATING JAWS GROWTH AT AN INFLECTION POINT ROCK -SOLID CAPITAL AND LIQUIDITY POSITION (2)
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G U I D A N C E 2 0 2 6 2026 Guidance: Faster efficiency, better cost dynamics 5 Revenues: growth on every line Thanks to the acceleration of structural trends Net financial income Combination of positive deposit net sales and rates increase Investing revenues Solid growth Combination of net sales and mix improvement Brokerage revenues Another record year Structural increase thanks to higher AUC and active investors Banking fees Growing Commercial growth: inflection point Net sales New clients Costs: improving efficiency ~+5% y/y Operating costs + ~€15mln y/y additional growth initiatives + ~€1mln y/y pan-EU platform set-up 26/27% Cost / income Platform scalability and strong operating gearing Capital & risk: solid and low-risk 70/80% Payout ratio > 4.5% Leverage ratio 5/10 bps Cost of risk 2nd record year in a row 4th record year in a row Solid growth Thanks to the increase in our client base
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G U I D A N C E 2 0 2 7 Guidance 2027: improving growth & operating leverage 6 Revenues: growth on every line Thanks to the acceleration of structural trends Net financial income Positive trade-off from combination of reinvestment yields, deposits and rates evolution Investing revenues Solid growth Combination of net sales and mix improvement Brokerage revenues Strong momentum Thanks to higher AUC and active investors Banking fees Growing Commercial growth: inflection point Net sales New clients Costs: improving efficiency Capital & risk: solid and low-risk 70/80% Payout ratio > 4.5% Leverage ratio Strong momentum Strong momentum Thanks to the increase in our client base Operating costs Cost / Income Decreasing y/y Material improvement y/y Solid growth
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G u i d a n c e - 2 0 2 9 O U T L O O K 2029 Outlook: Multi Year Plan update on February 10th, 2027 DRIVERS 7 GROWTH AT AN INFLECTION POINT Stronger than expected acceleration in net sales and new clients' acquisition 1 MONETIZING GROWTH IN HIGHER REVENUES All net sales mix contributing positively to revenues: • Acceleration on AUC monetization • Improvement of AUM mix 2 3 AI-LED OPERATING JAWS 4 1) Further slowing down cost growth as we are redesigning the backbone of the Bank 2) Deploying AI to advisors and clients: better mix and higher engagement STABLE DEPOSITS AND ZERO BETA Better NII due to: • ~0 cost of funding and stable deposits • Positive trade-off from combination of reinvestment yields, deposits and rates
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S E C T I O N 1 Financial results Faster growth in the quarter, all engines contributing, costs under control 8
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F I N A N C I A L R E S U L T S · P & L Net profit quickly on the rise All revenue engines growing double digit THREE ENGINES, ALL GROWING DOUBLE DIGIT 9 € mln 9M25 9M26 y/y Net Financial Income 471.7 520.3 10.3% Net Non Financial Income 498.6 565.7 13.5% Net Other expenses/income -0.6 -0.1 n.s. Total revenues 969.6 1,085.9 12.0% Staff expenses -111.5 -119.3 7.0% Other admin.expenses net of recoveries -127.9 -141.8 10.9% D&A -20.5 -21.7 5.6% Operating expenses -259.9 -282.8 8.8% Gross operating profit 709.7 803.0 13.1% Other charges and provisions -11.1 -14.3 28.3% LLP -3.7 -3.6 -3.4% Net income from investments -0.8 0.5 n.s. Profit before taxes 694.0 785.6 13.2% Income taxes -213.5 -254.1 19.0% Net profit 480.5 531.5 10.6% Non recurring expenses (net of taxes)(1) 0.0 -3.0 n.s. Net profit including non recurring items 480.5 528.5 10.0% ROE (2) 26.6% 27.3% Cost/Income 26.8% 26.0% (1) 9M26 non recurring items: -4.6 mln gross (-3.0 mln net) in 2Q26 due to mutual termination agreement with an executive (2) ROE is calculated as adj.net profit divided by EOP book equity for the period (excl. valuation reserves) (3) Costs related to the growth of the business: mainly marketing (-6.9 mln y/y), A.I. (-1.5 mln y/y), FAM (-0.4 mln y/y) and pan-EU platform set-up (-0.7 mln y/y) OPERATING JAWS BACK IN ACTION • Costs : ~+5% y/y increase excluding additional costs for business growth (marketing, FAM, AI) and pan-EU platform set-up (3) • Cost/Income : 26.0%, down 0.8 p.p. y/y BANKING 532 mln+11.3% y/y BROKERAGE 212 mln+13.2% y/y INVESTING 331 mln+12.0% y/y Managerial data: revenues by product area excluding Corporate Center
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Deposits (daily avg, bn) AVG 3MEUR F I N A N C I A L R E S U L T S · N E T F I N A N C I A L I N C O M E NFI +10.3% y/y in 9M26: valuable deposits driving a solid growth NET FINANCIAL INCOME, MLN, € A QUALITY, INDUSTRIALLY DRIVEN NII • Sticky transactional deposits with cost of funding close to zero: even a small banking-only client is profitable • Low-risk bond portfolio and short duration • No corporate lending and very limited credit exposure 6 bps COST OF DEPOSITS (3Q26) +29% Y/YBOND PORTFOLIO ROLLING BY 2029 10 156.6 176.4 180.9 471.7 520.3 3Q25 2Q26 3Q26 9M25 9M26 +15.5% +2.6% +10.3% 2.27% 2.23% 2.52% 2.24% 2.01% 31.9 29.7 31.9 32.3 30.4 SIZABLE REINVESTMENT YIELD OPPORTUNITY 9M25 9M26 Salary/Pensions +15.1 +16.4 Net bank transfers +11.6 +13.5 Inflows +26.7 +29.9 Expenses -18.3 -19.5 Transactional net inflows +7.9 +10.2 AUM/AUC -6.7 -10.0 Total +1.2 +0.2 69% DEPOSITS NET SALES BREAKDOWN, € BN
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F I N A N C I A L R E S U L T S · D E P O S I T B A S E A granular retail deposit base: 73% stable, #1 among European banks GRANULAR AND RETAIL DEPOSIT BASE ~€32 bn deposits ~€4k More accurate representation of deposits distribution ~€16k average ticket 50%+ of clients credit salary/pension on our banking platform (~€21 bn in FY25) Source: Pillar III, Regulatory Disclosure as of Dec.25 11 B.MED Avanza Nordnet Lloyds BPER B.MPS B.BPM Intesa Revolut BGN CA SAN BBVA CBK UniCredit BNP SocGen HSBC DBK UBS C.Schwab Flatex 73% 66% 61% 59% 56% 54% 52% 51% 51% 49% 46% 43% 42% Fineco 36% 36% 27% 27% 39% 22% 5% 2% 0% 23% Flatex Revolut Avanza BGN Nordnet B.MED HSBC BPER C.Schwab B.BPM SAN BBVA UniCredit Lloyds CBK Intesa B.MPS DBK CA SocGen UBS BNP 418% 279% 261% 245% 240% 236% 179% 143% 134% 129% 127% 126% 126% Fineco 124% 123% 122% 121% 125% 119% 116% 116% 108% 119% Avanza Revolut B.MED Flatex BGN Nordnet UBS BPER B.MPS SocGen SAN B.BPM Lloyds CBK UniCredit Intesa BBVA HSBC DBK CA BNP C.Schwab 958% 864% 512% 411% 342% 329% 278% 183% 170% 160% 148% 147% 146% Fineco 143% 142% 140% 140% 145% 137% 136% 135% 131% 137% STABLE DEPOSITS (FY25) NSFR (FY25) BENCHMARKING: LCR (FY25) Fineco avg EBA 17.4% 106.3% LOAN -TO -DEPOSIT (1H26) Median ticket Source: EBA risk dashboard, 1H26 Loan-to-deposit ratio for households and non-financial corporations
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F I N A N C I A L R E S U L T S · I N V E S T I N G Investing +12%, solid growth aligned with long term trends INVESTING REVENUES, MLN, € 12 103.7 111.0 118.0 295.6 330.9 3Q25 2Q26 3Q26 9M25 9M26 +13.8% +6.3% +12.0% AVG AUM (on daily basis, €bn) AUM margins pre-tax (Revenues / daily avg AUM, bps) 67.7 77.2 79.8 77.0 69.8 SUSTAINABLE REVENUES 71.2 79.7 80.0 3Q25 2Q26 3Q26 +12.3% +0.3% AUM STOCK, END OF PERIOD, BN, € ADVANCED ADVISORY (% on AUM stock) 0% PERFORMANCE FEES ONLY 2% UPFRONT FEES FOCUS: IMPROVING AUM MIX THROUGH WRAPPERS INSURANCE WRAPPERS: • partnership with CNP improves the quality of products/services and the Bank's marginality • Fineco has a relative underpenetration vs industry on Insurance wrappers FAM WRAPPERS • TOP 20: passive funds with third party ETFs as underlyings • FAM UNDERLYINGS: fund of passive funds • ETF PENSION FUND 57 53% 54% 55%
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F I N A N C I A L R E S U L T S · B R O K E R A G E A rapidly growing AUC base creating further monetisation opportunities AVG MONTHLY REVENUES, MLN, € AUC STOCK, END OF PERIOD, MLN, € 13 16.0 18.1 21.3 23.5 2023 2024 2025 9M26 +15.4% CAGR AUC margins pre-tax (Revenues / daily avg AUC, bps) 52 51 47 FY23 FY24 FY25 9M26 36.1 44.7 54.8 66.3 +23.2% CAGR INITIATIVES TO UNLOCK AUC POTENTIAL : details on slides 24/25 • Value extraction by clients flows • Securities Lending platform • Auto-FX • Crypto offer • Extended US session • Pan-EU platform +13.2% y/y
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F I N A N C I A L R E S U L T S · L E N D I N G Lending: a high-quality business, offered only to existing clients COMMERCIAL LOANS PORTFOLIO (GROSS), MLN, €, END OF PERIOD COST OF RISK ON COMMERCIAL LOANS 7 bps Cost of risk 0.52% NPE ratio • No corporate loans • NPE at €30.4 mln with a coverage ratio at 83% • LLP equal to −3.6 mln in 9M26 • Offered exclusively to the existing base of clients 14(1) Current accounts/overdraft Include Lombard loans (2) Cost of Risk: commercial LLP of the last 12 months on average last 12 months Commercial Loans (3) NPE ratio: Non Performing Exposures on Commercial Loans Portfolio over the Commercial Loans Portfolio (1) (2) (3) 2.2 0.50.4 2.2 Sep.25 2.5 0.50.4 2.1 Jun.26 2.8 0.50.4 2.1 Sep.26 5.2 5.4 5.7 +10.5% +5.4% Current accounts/Overdraft Personal loans Cards Mortgages
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F I N A N C I A L R E S U L T S · C A P I T A L A N D L I Q U I D I T Y Rock-solid ratios: well above regulatory requirements 15(1) Avg 12 months, in line with Pillar 3 disclosure Dec.25 Sept.26 Requirement Solvency CET1 Ratio 23.30% 23.39% 8.67% Total Capital Ratio 31.37% 31.00% 13.04% Leverage Ratio 5.07% 5.19% 3.00% Liquidity LCR (1) 958% 991% 100% NSFR 418% 447% 100% HQLA/Deposits (1) 80% 79% MREL MREL LRE 7.15% 7.22% 5.25% MREL TREA 44.23% 43.16% 22.20% (€/bn) Dec.25 Sept.26 CET1 Capital 1.45 1.54 Tier1 Capital 1.95 2.04 Total Capital 1.95 2.04 RWA 6.20 6.57 o/w credit 3.05 3.29 o/w market 0.17 0.29 o/w operational 2.99 2.99 HQLA (1) 24.06 25.16
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S E C T I O N 2 Commercial results A step-up in acquisition and net sales, without diluting client quality 16
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C O M M E R C I A L R E S U L T S · M A R K E T A unique positioning for long-term growth: 3.9% of a €4+ tln market ITALIAN HOUSEHOLDS TFA: ADDRESSABLE MARKET (1Q26) 3.9% market share €4,186 bn addressable market: 96.1% Massive runway ahead Fineco: The Established Disruptor a structural winner in a quickly changing market 1 AI disruption • A driver for higher Transparency in financial services • Game-changer for Productivity and Efficiency: AI already live across our advisors, brokerage clients and prospects 2 Massive generational wealth transfer Huge stock of wealth on the move: Fineco best positioned to catch the next generation of savers looking for Efficiency, Transparency and Convenience 3 Consolidation in the banking industry Oligopoly game: fewer, larger banks with no focus on customer experience. Perfect environment for Fineco (1) Estimate based on Bank of Italy figures. Addressable market includes deposits, administered and managed assets; excludes stakes in non-listed enterprises and TFR. 1Q26 latest available figure 17 (1)
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C O M M E R C I A L R E S U L T S · F E E M O D E L A fee model aligned with clients: long-term sustainable AUM revenues FINECO: A CLEAR OUTLIER A unique market positioning based on Efficiency, Transparency and Convenience ✓ Fair and transparent pricing ✓ No performance fees ✓ Negligible upfront fees Leading to sustainable growth fully aligned with clients' interest and long- term trends. % OF ACTIVE FUNDS CHARGING PERFORMANCE FEES, BY COUNTRY OF DOMICILE CERTIFICATES ISSUED ON THE ITALIAN PRIMARY MARKET, € BN +11.8% certificates issued y/y in 1H26 A clear sign of sizable upfront fees charged (1) Morningstar, European Fund Fee Study 2025; (2) ACEPI, Associazione Italiana Certificati e Prodotti di Investimento (acepi.it, mercato primario 2006-2026). 18 1% 7% 12% 13% 44% 65% UK Ireland Lux All countries Germany Italy (1) 25.8 23.6 31.8 16.4 18.4 2023 2024 2025 1H25 1H26 +11.8% (2)
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C O M M E R C I A L R E S U L T S · G R O W T H Net sales +39%, new clients +27%: Fineco at an inflection point TOTAL NET SALES, BLN, € NEW CLIENTS, THD, # October: further acceleration • New clients +34% y/y • Net sales +28% y/y Coupling stronger acquisition with better clients’ value • 9M26 per-capita total net sales new clients +5% y/y • 9M26 new Private Banking clients +38% y/y 19 2.6 5.7 9.8 13.4 9.4 13.1 avg 2010/14 avg 2015/19 avg 2020/24 2025 9M25 9M26 +39.0% 97.3 119.2 152.4 193.8 144.7 184.2 2022 2023 2024 2025 9M25 9M26 +27.3% FINECO: MAIN EUROPEAN DIGITAL PRIVATE BANK
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C O M M E R C I A L R E S U L T S · Y O U N G A N D P R I V A T E C L I E N T S Outperforming with young and Private Banking clients NEW CLIENTS BY AGE, % OF HEADCOUNT Half of new clients are under 35 PRIVATE BANKING TFA: CONSISTENTLY GAINING SHARE Fineco AIPB market TFA growth 2016 to 2Q26 +309.3% +96.4% TFA growth 2016 to 3Q26 +316.3% Market share on AIPB 2.9% → 6.0% 2016 → 2Q26 PRIVATE CLIENT PROFILE €1.1 mln average TFA An emerging trend: self-directed Private clients ~12% of PB stock relates to clients with no advisor: only interested in the Fineco platform AIPB: Associazione Italiana Private Banking (2Q26 latest available data). Private Banking clients are clients with more than €0.5 mln TFA with the Bank. 20 59% 41% 2021 49% 51% 2025 49% 51% 9M26 above 35 years under 35 years 22.2 91.1 92.6 2016 2Q26 3Q26 45.9% 45.6% 8.5% AuM AuC Deposits €, bn
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C O M M E R C I A L R E S U L T S · C L I E N T Q U A L I T Y Growing faster without diluting quality: richer clients, and loyal ones CLIENT SEGMENTATION, % OF TFA, BN, € €92k in 3Q26 HIGHER AVG TFA PER CLIENT €76k in FY21, €89k in FY25, €92k in 3Q26, while acquisition accelerates. 52% OF TFA FROM CLIENTS ABOVE €500K 45% in FY21. Private Banking keeps gaining weight in the base. 50 63 AVG AGE 96% CUSTOMER SATISFACTION Source: Kantar (May 2026) 21 45% 35% 10%9% FY21 51% 34% 8%7% FY25 52% 33% 8%7% 3Q26 107.9 160.6 178.2>500k 100-500k 50-100k <50k TOTAL CLIENTS’ GROWTH, THD, # 1,428 1,800 1,764 1,944 FY21 FY25 9M25 9M26 +6.0% +10.2% TOTAL PRIVATE CAGR With half of new clients under 35, the base is getting younger at entry 65 NPS (vs 30 avg financial sector)
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C O M M E R C I A L R E S U L T S · N E T W O R K Net sales are organically driven NEW PFAS RECRUITED IN THE YEAR PFAS RECRUITED OVER THE LAST 24 MONTHS 94% organic net sales • No change in our recruiting policy: organic net sales the main engine of our growth. • Structural increase in spontaneous interest to join Fineco: the perfect partner for professionals looking to grow in a sustainable way. 22 95% 96% 94% 97% 98% 5% 2022 4% 2023 6% 2024 3% 2025 2% 9M26 10.3 8.8 10.1 13.4 13.1 Total recruits Organic 90% 87% 88% 91% 94% 10% 13% 12% 9% 2022 2023 2024 2025 6% 9M26 10.3 8.8 10.1 13.4 13.1 Network (headcount) Senior recruited (#) Junior recruited (#) 2,918 2,962 3,002 3,076 3,164 86 70 78 88 65 128 71 99 100 98
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S E C T I O N 3 Growth levers New initiatives to further monetize our growth 23
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G R O W T H L E V E R S · A U C M O N E T I Z A T I O N Unlocking the potential of our AUC base Initiative What it does/where we are Value extraction from clients flows ➢ Higher internalized volumes thanks to wider client base and more sophisticated models Live Auto-FX ➢ Better-than-expected increase in clients’ volumes Live Securities Lending platform ➢ Ramping up relationship with institutional players ➢ Volumes progressively on the rise Live ETF data platform fee See next slide for details Live Crypto offer In talks with regulators In progress Extended US session Launch of pre-market and extension of after-hours Live Pan-EU platform See slide 26 Early-2027 REVENUES FROM NEW INITIATIVES, € MLN MORE UPSIDE AHEAD • Higher value extraction from our clients' flows • Auto-FX: strong client demand • Securities Lending platform: just started 24 7.2 8.3 6.0 7.4 13.5 16.1 47.8 53.6 69.5 59.2 3.7 2023 2024 2025 9M26 58.6 69.2 89.1 80.0 4.7 +23.2% Value extraction on flows AutoFX Securities Lending CAGR
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G R O W T H L E V E R S · A U C M O N E T I Z A T I O N ETFs: a new revenue engine for Brokerage and Investing ETF REVENUES, € MLN ETF STOCK, € BN 44% of AUC net sales in ETFs, 9M26 36% of AUM net sales in ETFs, 9M26 SEVERAL INITIATIVES TO FURTHER MONETISE ETFS Brokerage • Brokerage fees led by strong turnover • Securities lending opportunity • Internalisation opportunity • Data platform fee now live Investing • Advanced advisory solutions: big volume game ahead • FAM: active ETFs, co-branding on passive plain vanilla • ETF accumulation plan in AUM, available also on the app (1) A portion of ETF revenues is included in Systematic Internaliser revenues on previous slide 25 23.5 37.6 42.3 2024 2025 9M26 +59.8% 2.9 4.4 6.2 8.2 12.3 17.6 FY24 FY25 9M26 11.1 16.7 23.7 ETFs in AUC ETFs in AUM (1)
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G R O W T H L E V E R S · P A N- E U R O P E A N P L A T F O R M Fineco pan-European platform Launch F&F phase in early-2027 Our vertically integrated brokerage is the key to launch a multi-country platform STRONG OPERATING LEVERAGE AND VERY LOW FIXED COSTS 1 Leveraging our Italian IT infrastructure Limited fixed costs; variable costs linked to business results 2 EU passporting Leveraging our Italian banking licence A DISTINCTIVE PROPOSITION 1 Established Disruptor & Trusted Bank A Significant Bank, with a state-of-the-art user experience 2 Disruptive offering A top-quality customer experience with aggressive pricing ✓ Medium-term expected ROE higher than current Fineco 26
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G R O W T H L E V E R S · A I O N F I N E C O F R O N T- E N D Deploying AI across the platform: live for advisors and brokerage clients AI Assistant for PFAs CRM for PFAs and managers Live for all PFAs • Fully integrated with Fineco platform and data to manage clients and advisor teams • Clustering clients and prospects • Identify priority actions Portfolio Builder Live for all PFAs • Building portfolios, reporting and proposals • Diagnosis for prospects • Performance and TER comparison • NEW: wrappers with look-through and portfolio manager comments PFA chatbot Live Processes, internal documents and products Brokerage Copilot: new AI-driven UX Screening securities Live, brokerage-only accounts Based on fundamentals and technical analysis · Compare multiple securities · Conversational chat Portfolio analysis Live, brokerage-only accounts Simulation of portfolio evolution · Newsflow related to the portfolio Smart market news Live, brokerage-only accounts Based on clients' interests · AI-queryable · News tagged with market sentiment 27 AI-native apps, AI onboarding App for clients Functional and technical analysis Data-driven personalised upselling · A step- change in usability and simplification App for PFAs Design phase AI and commercial tools in a dedicated PFA app AI-first onboarding Already live A leaner onboarding process to lower the attrition rate AI for prospects Already live Increased prospect interaction via chat; chats mostly managed by AI
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G R O W T H L E V E R S · A I O N F I N E C O B A C K- E N D AI-native comes to the Bank: more scale, more operating leverage 28 Phase 1 · advisors and clients Consolidated Phase 2 · AI in our processes In progress 1 2 PHASE 2 · THREE AREAS OF INTERVENTION Operations In progress Control functions In progress Cross-functional In progress AI agents by task, not by department WHAT IT DELIVERS Operating leverage Volumes grow faster than costs Structural efficiency Native processes, built to scale Stronger risk control From ex post to early controls Better service Higher perceived quality by clients All processes under review: faster, more scalable, more cost efficient Project BOOST: Bank Operational Optimization & Simplification Track Back office Securities, Brokerage, Banking and CRM: all redesigned from scratch Audit, Compliance, AML: from periodic controls to continuous, predictive monitoring
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S E C T I O N 4 Key Messages: business model Focus on Fineco business model 29
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30 F I N E C O , B U I L T T O W I N · 1 0 + Y E A R S L I S T E D : D E L I V E R I N G V A L U E T O A L L S T A K E H O L D E R S Eleven years of operating leverage: revenues +11% a year, costs +6% A healthy and solid commercial trajectory, translated into quality and growing results thanks to our scalable operating platform 2014 2025 CAGR Clients 964k 1,800k +6% TFA €49 bn €161 bn +11% Revenues €429 mln €1,317 mln +11% Costs €190 mln €356 mln +6% Net profit €155 mln €650 mln +14% Cost / income 44% 27% −17 pp 25% ROE FY25: delivering rock-solid returns +6.7 pp A leading growth story: TFA CAGR vs system, 2014-2025 Winning clients' trust leveraging our core values: Efficiency, Transparency, Convenience. Market share gained. Quality uncompromised. Stakeholders' interests aligned. Figures adjusted for non-recurring items 20% TSR CAGR 2014/2025
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K E Y M E S S A G E S · B U S I N E S S M O D E L All business areas sustain revenue growth: a structurally hedged model Strong acceleration in client growth to drive higher revenue contribution across our diversified model. Banking • High-quality NII thanks to sticky transactional liquidity • Cost of funding close to 0 Investing • Quality and future-proof revenues thanks to recurring management fees • Transparent approach (advisory solutions) and increasing FAM penetration Brokerage • AUC growth leading to a structurally higher correlation with revenues over time • More efficient value chain thanks to our new initiatives Structurally hedged model to deliver sustainable and quality growth (1) Net profit figures adjusted by non-recurring items. 31 0 50 100 150 200 +14% 3Q261Q14 Net profit CAGR quarterly basis, adjusted, mln (1) Rates, markets and investor activity hit the three engines differently: the mix protects growth in any market condition.
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G R O W T H L E V E R S · T E C H N O L O G Y Technology, the engine of Fineco's scalability: proven platform, clear plan TRACK RECORD 99.9%+ availability ~6% IT cost / revenue, vs 11.6% average <<1 bp operational losses from tech, cyber and fraud 1.9 mln clients served ~430 mln digital accesses a year The next phase demands more: new markets, AI at enterprise scale, a platform that must grow without growing costs. We have the foundations, the architecture and the team to deliver. MULTI -YEAR PLAN TARGETS 2026 -2029 TCO stable, volumes up Full-stack control drives cost discipline: tech cost grows slower than revenues and customers. AI in core processes From foundation to enterprise-scale integration, driving revenues and efficiency across the bank. Pan-European expansion European launch with minimal incremental tech cost: the platform is already built to replicate. Fineco's technology platform delivers top-tier efficiency today and is architected to scale profitably across the Multi-Year Plan. 32
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S U S T A I N A B I L I T Y Our sustainability commitment: long-term value for all stakeholders Combining business growth and financial strength with the principles of sustainability, in order to create long-term value for all stakeholders. Best-in-class governance framework and strong responsible finance practices to sustain a low-risk business model and drive relentless improvement in the Group's reputation Strengthening responsible finance • Enhancement of financial education • Promotion of responsible trading • Development of ESG products and services • Upskilling of PFAs' ESG know-how Spreading sustainability culture • Empowerment of gender equality and diversity • Promotion of a culture of sustainability for stakeholders and the community Strengthening governance best practices • Improvement of best practices through third-party certification • Maintaining a low cyber and ICT risk level Environmental commitment and supply chain oversight • 2050 Net Zero targets and EMAS certification • Improvement of environmental and social oversight across the supply chain 33
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A N N E X Annex Detailed tables 34
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A N N E X P&L reclassified (1) Non-recurring items: −€4.6 mln gross (−€3.0 mln net) in 2Q26 due to mutual termination agreement with an executive. P&L shown net of non-recurring items. 35 mln 1Q25 2Q25 3Q25 4Q25 FY25 1Q26 2Q26 3Q26 9M25 9M26 Net Financial Income 161.3 153.7 156.6 161.4 633.1 163.0 176.4 180.9 471.7 520.3 Net Non Financial Income 167.7 162.7 168.2 186.1 684.7 180.6 194.4 190.6 498.6 565.7 Net Other expenses/income 0.2 -1.3 0.5 -0.7 -1.3 -0.7 0.1 0.5 -0.6 -0.1 Total revenues 329.3 315.1 325.3 346.9 1,316.5 342.9 370.9 372.1 969.6 1,085.9 Staff expenses -36.4 -37.4 -37.7 -39.0 -150.5 -39.3 -40.1 -39.9 -111.5 -119.3 Other admin.exp. net of recoveries -44.4 -41.5 -42.1 -50.1 -178.0 -48.8 -50.4 -42.7 -127.9 -141.8 D&A -6.5 -7.0 -7.0 -7.2 -27.7 -7.0 -7.2 -7.5 -20.5 -21.7 Operating expenses -87.2 -85.9 -86.8 -96.3 -356.3 -95.1 -97.7 -90.1 -259.9 -282.8 Gross operating profit 242.0 229.2 238.5 250.5 960.2 247.8 273.2 282.0 709.7 803.0 Other charges and provisions -3.8 -3.9 -3.4 -8.2 -19.4 -4.9 -5.3 -4.1 -11.1 -14.3 LLP -0.9 -1.7 -1.2 -0.9 -4.7 -1.4 -1.1 -1.1 -3.7 -3.6 Net income from investments -1.0 -0.1 0.2 0.1 -0.7 -0.3 0.4 0.5 -0.8 0.5 Profit before taxes 236.4 223.5 234.1 241.5 935.5 241.1 267.3 277.2 694.0 785.6 Income taxes -72.2 -69.9 -71.4 -75.0 -288.5 -78.9 -86.1 -89.1 -213.5 -254.1 Net profit 164.2 153.6 162.7 166.5 647.0 162.2 181.1 188.1 480.5 531.5 Non recurring expenses (net of taxes) (1) 0.0 0.0 0.0 0.0 0.0 0.0 -3.0 0.0 0.0 -3.0 Net profit including non recurring items 164.2 153.6 162.7 166.5 647.0 162.2 178.2 188.1 480.5 528.5
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A N N E X 9M26 P&L: FinecoBank and Fineco Asset Management (1) Non-recurring items: −€4.6 mln gross (−€3.0 mln net) in 2Q26 due to mutual termination agreement with an executive. 36 mln Fineco Asset Management FinecoBank Individual FinecoBank Consolidated Net Financial Income 0.7 519.6 520.3 Net Non Financial Income 147.5 456.4 565.7 o/w Dividends 0.0 38.4 0.2 Net other expenses/income -2.1 2.2 -0.1 Total revenues 146.1 978.2 1085.9 Staff expenses -11.9 -107.4 -119.3 Other admin.exp. net of recoveries -7.6 -134.4 -141.8 D&A -0.4 -21.3 -21.7 Operating expenses -19.9 -263.1 -282.8 Gross operating profit 126.2 715.0 803.0 Other charges and provisions 0.0 -14.3 -14.3 LLP 0.0 -3.6 -3.6 Net income from investments 0.0 0.5 0.5 Profit before taxes 126.2 697.7 785.6 Income taxes -18.8 -235.3 -254.1 Net profit 107.4 462.3 531.5 Non recurring expenses (net of taxes) (1) 0.0 -3.0 -3.0 Net profit including non recurring items 107.4 459.4 528.5
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A N N E X Details on net interest income Volumes and margins: average of the period. Net margin calculated on real interest income and expenses. 37 mln 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 9M25 9M26 Financial Investments Interest income 106.7 105.4 110.2 114.9 117.7 128.2 132.1 322.3 378.0 Avg volumes 26,768 27,511 28,603 29,259 29,656 31,107 31,149 27,627 30,637 Net Margin 1.62% 1.54% 1.53% 1.56% 1.61% 1.65% 1.68% 1.56% 1.65% Gross Interest 119.2 115.9 118.9 122.0 123.6 134.2 137.9 354.0 395.8 Gross margin 1.81% 1.69% 1.65% 1.65% 1.69% 1.73% 1.76% 1.71% 1.73% Leverage - Long Interest income 4.1 3.1 3.6 3.9 3.6 3.3 3.6 10.7 10.6 Avg volumes 146 113 132 144 136 128 136 130 133 Net Margin 11.42% 10.89% 10.75% 10.73% 10.72% 10.46% 10.56% 11.03% 10.58% Tax Credit Interest income 9.2 8.2 7.3 6.8 6.1 6.4 3.1 24.8 15.7 Avg volumes 1,216 992 814 813 773 557 362 1,007 564 Net Margin 3.08% 3.31% 3.58% 3.32% 3.22% 4.62% 3.43% 3.29% 3.72% Lending Interest income 41.5 38.2 35.6 36.2 36.1 38.0 42.0 115.2 116.1 Avg volumes 4,783 4,809 4,822 4,913 4,937 4,992 5,198 4,805 5,042 Net Margin 3.52% 3.18% 2.93% 2.93% 2.96% 3.05% 3.21% 3.21% 3.08% Other Interest income -0.3 -0.2 0.5 -0.4 -0.3 0.5 -0.1 0.0 0.0 Total 161.2 154.6 157.3 161.4 163.2 176.4 180.8 473.1 520.4 Gross Margin 2.14% 1.98% 1.91% 1.91% 1.94% 1.98% 2.01% 2.01% 1.98% Cost of Deposits -0.15% -0.13% -0.10% -0.08% -0.07% -0.07% -0.06% -0.13% -0.07% 3M EUR (avg) 2.56% 2.11% 2.01% 2.04% 2.05% 2.24% 2.52% 2.23% 2.27%
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A N N E X Bond portfolio: low risk, driven by sticky transactional liquidity A SAFE, DIVERSIFIED PORTFOLIO: €27.7 BN NOMINAL, EOP 80% of bond book 2.0 years Average duration (incl. hedging) RUN -OFFS: AN OPPORTUNITY FROM REINVESTMENT YIELDS, € BN (1) “Other govies” includes: 1.7bn France, 1.3bn Austria, 0.9bn Belgium, 0.9bn Ireland, 0.7bn USA, 0.3bn Portugal, 0.3bn Chile, 0.2bn Germany, 0.2bn China, 0.1bn Saudi Arabia, 0.1bn other (2) SSA: Sovereign, Supranational, Agencies and Local Authorities (3) Almost the entire bond portfolio not at fixed rate is swapped 38 8.3 3.4 6.6 8.8 0.6 Italy Spain Other Govies SSA Covered & Financial Fixed rate Avg yield fixed rate Avg spread vs 3MEUR, floating and swapped Floating rate (swapped) 191bps average yield 20% of bond book 3bps avg spread on 3MEUR 2.8 years Average maturity 0.9 1.3 0.8 1.5 3.3 7.2 5.7 1.9 2.1 1.8 0.20.0 2026 0.4 2027 2028 2029 2030 2031 0.5 2032 0.00.0 2033 0.2 3.7 8.1 7.1 2.7 3.7 2.3 0.0 Fixed rate bonds Floating and swapped bonds 419 136 -31 220 203 205 74 7 -10 (1) (2) (3)
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A N N E X Net commissions by product area Managerial data. 39 mln 1Q25 2Q25 3Q25 4Q25 FY25 1Q26 2Q26 3Q26 9M25 9M26 Banking 11.1 11.4 12.1 15.3 50.0 12.5 13.4 13.3 34.7 39.3 Brokerage 37.1 31.2 31.1 38.2 137.5 40.4 39.4 31.8 99.3 111.6 o/w Equity 28.5 24.8 26.2 29.2 108.7 31.9 32.1 26.9 79.5 90.9 Bond 5.8 3.6 1.8 6.5 17.6 5.6 4.7 1.5 11.1 11.9 Derivatives 3.1 2.7 2.3 2.6 10.7 3.0 2.7 2.4 8.1 8.2 Other commissions -0.2 0.1 0.7 -0.1 0.5 -0.2 -0.1 1.0 0.6 0.7 Investing 94.9 97.9 104.0 108.5 405.3 102.5 111.7 118.9 296.8 333.1 o/w Placement fees 2.3 2.5 2.8 2.2 9.8 2.0 1.8 2.0 7.7 5.9 Management fees 114.9 114.4 120.5 125.1 474.8 124.9 130.6 137.1 349.8 392.6 to PFA's: incentives -8.6 -8.7 -9.4 -11.5 -38.2 -9.3 -9.5 -10.2 -26.7 -29.0 to PFA's: LTI -0.5 -0.6 -0.6 0.1 -1.6 -0.7 -0.6 -0.6 -1.6 -1.9 Other PFA costs -13.3 -9.7 -9.3 -9.8 -42.1 -14.5 -10.6 -10.3 -32.3 -35.5 Other commissions 0.0 0.0 0.0 2.5 2.5 0.0 0.0 0.9 0.0 1.0 Other (Corporate Center) -2.7 -2.7 -2.7 -2.7 -10.9 -2.7 -2.7 -2.7 -8.1 -8.2 Total 140.4 137.8 144.4 159.3 581.9 152.6 161.8 161.4 422.6 475.8
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A N N E X Revenues by product area Managerial data. Revenues attributable to each product area, generated by products and services offered to customers accordin g to the link between products and product area. Banking: deposits, treasury and credit products. Investing: asset under management products. Brokerage: trading activity 40 mln 1Q25 2Q25 3Q25 4Q25 FY25 1Q26 2Q26 3Q26 9M25 9M26 Net Financial Income 151.9 145.2 146.7 152.0 595.8 154.0 166.8 171.6 443.8 492.3 Net Non Financial Income 10.8 11.1 12.3 15.8 50.0 12.3 13.1 14.4 34.2 39.8 Other 0.1 -0.3 0.0 -0.4 -0.5 -0.5 0.0 0.1 -0.2 -0.3 Total Banking 162.8 156.0 159.0 167.4 645.2 165.8 179.9 186.1 477.8 531.8 Net Financial Income 4.5 3.2 3.8 4.3 15.9 3.9 3.6 3.9 11.6 11.4 Net Non Financial Income 64.4 56.2 54.7 64.6 239.9 68.7 71.7 59.9 175.4 200.3 Other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Total Brokerage 69.0 59.5 58.5 68.8 255.8 72.6 75.3 63.8 187.0 211.7 Net Financial Income 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Net Non Financial Income 94.9 97.9 104.0 108.5 405.3 102.5 111.7 118.9 296.8 333.1 Other -0.4 -0.5 -0.3 -0.4 -1.6 -0.5 -0.7 -0.9 -1.2 -2.1 Total Investing 94.5 97.4 103.7 108.1 403.7 102.0 111.0 118.0 295.6 330.9
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A N N E X Total financial assets 2025 stock of AUM and AUC recast to move FAM's ETFs into the 'Other' AUM line (previously in AUC and AUC under advisory). 41 mln Mar.25 Jun.25 Sep.25 Dec.25 Mar.26 Jun.26 Sep.26 AUM 66,319 68,606 71,237 74,041 73,873 79,729 80,004 Funds and Sicav 45,596 47,513 49,782 51,814 51,693 55,981 55,664 Insurance 12,744 12,610 12,511 12,493 12,289 12,549 12,621 AUC under advisory 7,482 7,967 8,355 9,114 9,264 10,487 11,022 Other 497 516 590 620 627 712 697 AUC 46,817 49,196 52,489 54,828 56,721 63,225 66,303 Equity 15,972 17,089 18,509 19,046 18,746 21,178 21,947 Bond 21,649 21,979 22,594 23,382 24,647 26,021 26,659 ETF 8,907 9,893 11,222 12,269 13,211 15,912 17,591 Other 289 235 164 132 117 115 107 Direct Deposits 29,119 30,013 30,849 31,682 31,508 32,269 31,883 Total 142,255 147,814 154,575 160,552 162,101 175,224 178,190 o/w TFA FAM retail 25,353 26,520 27,735 29,077 29,125 31,185 30,936 o/w TFA Private Banking 68,743 72,581 77,580 81,434 81,247 91,052 92,616 o/w Advanced Advisory Service 34,498 35,944 37,552 39,547 39,465 43,292 43,619
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A N N E X TFA and net sales evolution BREAKDOWN OF TOTAL FINANCIAL ASSETS, € BN BREAKDOWN OF TOTAL NET SALES, € BN 42 24% 28% Dec.14 48% 24% 28% Dec.15 48% 21% 31% Dec.16 50% 20% 30% Dec.17 48% 20% 32% Dec.18 50% 19% 31% Dec.19 49% 20% 31% Dec.20 51% 21% 27% Dec.21 49% 22% 29% Dec.22 47% 29% 23% Dic.23 47% 32% 21% Dec.24 46% 34% 20% Dec.25 45% 48% 18% Sept.26 49.3 55.3 60.2 67.2 69.3 37% 91.7 107.9 106.6 122.6 140.8 160.6 178.2 81.4 AuM AuC Deposits 1.9 2.9 1.5 2.1 3.5 2.5 1.5 8.3 2.0 3.1 1.8 3.3 2.5 1.9 5.6 2.7 4.8 6.0 4.7 9.22.7 1.9 4.0 2.3 4.3 7.3 3.6 -2.1 4.1 5.5 3.6 3.7 1.2 2014 0.9 2015 0.3 2016 0.5 2017 2018 -1.0 2019 2020 2021 1.1 2022 2023 1.2 2024 -0.2 1.2 9M25 0.2 9M26 4.0 5.5 5.0 6.0 6.2 5.8 9.3 10.7 10.3 8.8 10.1 13.4 9.4 13.1 2025 AuM AuC Deposits FAM retail / total AUM 18% 21% 23% 27% 30% 34% 38% 39% 39%
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A N N E X Fineco: a safe, liquid and diversified balance sheet BALANCE SHEET, € BN TOTAL 38.3 Transactional liquidity: cost of funding close to 0 Driven by our clients' valuable transactional liquidity and not by lending (no costs and provisions due to NPL) 447% NSFR Selective lending • Ancillary business offered only to our well-known base of retail clients • No corporate lending Low-risk bond portfolio Diversified blend of EU govies, supranational and agencies. (1) Financial assets include the fair value change of hedged bonds for the hedged risk. (2) Due from banks includes 1.3bn cash deposited at Bank of Italy and 0.3bn bank current accounts as of Sept.26. 43 27.5 6.8 2.41.6 Assets Financial Assets Loans to customers Due from Banks Other 32.6 3.1 2.6 Liabilities Due to customers Other liabilities Equity (1) (2)
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A N N E X Balance sheet details (*) Aggregations vs the reclassified balance sheet: 1. Due from banks = loans to banks + cash and cash balances (excluding cash) 2. Financial assets = financial assets held for trading + financial investments 3. Other assets = other assets + tax assets + cash 4. Due to customers include financial counterparties 5. Other liabilities = financial liabilities held for trading + tax liabilities + other liabilities 44 mln Mar.25 Jun.25 Sep.25 Dec.25 Mar.26 Jun.26 Sept.26 Due from Banks (*) 2,188 2,023 2,531 2,276 2,254 2,278 2,411 Loans to Customers 6,132 6,169 6,220 6,378 6,298 6,428 6,785 Financial Assets (*) 23,734 25,138 25,682 26,277 26,806 28,355 27,490 Tangible and Intangible Assets 269 268 267 276 275 276 278 Hedging instruments 510 453 442 440 475 366 461 Tax credit acquired 1,171 848 811 818 728 374 361 Other Assets (*) 417 460 422 832 610 627 488 Total Assets 34,421 35,359 36,375 37,296 37,446 38,705 38,274 Due to Customers (*) 29,531 30,681 31,609 32,453 32,234 33,256 32,561 Due to Banks 893 860 851 850 1,099 866 1,073 Debt securities 801 805 809 811 802 1,307 1,316 Hedging instruments 30 44 30 24 7 11 0 Other Liabilities (*) 623 726 682 604 602 869 749 Equity 2,543 2,244 2,394 2,553 2,702 2,397 2,576 Total Liabilities and Equity 34,421 35,359 36,375 37,296 37,446 38,705 38,274
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A N N E X Leverage ratio comfortably under control LEVERAGE RATIO SENSITIVITY: MULTI -YEAR VIEW Starting point for multi-year simulations: LR at 31 Dec.25, 5.07% (highlighted) LR >4.75% 4.5-4.75% LR <4.5% CAPITAL MANAGEMENT: OUR PRIORITIES 1 Regulatory capital Appropriate level of regulatory capital and leverage ratio 2 Business growth Targeting investments to drive all options to accelerate our sustainable and organic long-term growth, continuing to keep cost discipline 3 Regular dividend Distribute a regular and generous dividend: 70/80% payout ratio throughout the Plan horizon 4 Potential capital surplus We will evaluate the best way to return the potential excess capital to the market 45 0 150 300 400 450 500 550 600 650 -2,000 5.74% 6.13% 6.38% 6.51% 6.63% 6.76% 6.89% 7.01% -1,500 5.66% 6.04% 6.29% 6.42% 6.55% 6.67% 6.80% 6.92% -1,000 5.59% 5.96% 6.21% 6.34% 6.46% 6.58% 6.71% 6.83% -500 5.51% 5.88% 6.13% 6.25% 6.38% 6.50% 6.62% 6.74% 0 5.07% 5.44% 5.81% 6.05% 6.17% 6.29% 6.41% 6.53% 6.65% 1,000 5.30% 5.66% 5.90% 6.02% 6.14% 6.25% 6.37% 6.49% 2,000 5.17% 5.52% 5.75% 5.87% 5.99% 6.10% 6.21% 6.33% 3,000 5.05% 5.39% 5.62% 5.73% 5.84% 5.95% 6.07% 6.18% 4,000 4.93% 5.26% 5.49% 5.60% 5.71% 5.82% 5.93% 6.03% 5,000 4.82% 5.14% 5.36% 5.47% 5.58% 5.68% 5.79% 5.90% 6,000 4.71% 5.03% 5.24% 5.35% 5.45% 5.56% 5.66% 5.77% 7,000 4.60% 4.92% 5.13% 5.23% 5.33% 5.44% 5.54% 5.64% 8,000 4.51% 4.81% 5.02% 5.12% 5.22% 5.32% 5.42% 5.52% 9,000 4.41% 4.71% 4.91% 5.01% 5.11% 5.21% 5.31% 5.41% 10,000 4.32% 4.61% 4.81% 4.91% 5.00% 5.10% 5.20% 5.30% 11,000 4.23% 4.52% 4.71% 4.81% 4.90% 5.00% 5.09% 5.19% 12,000 4.15% 4.43% 4.62% 4.71% 4.81% 4.90% 4.99% 5.09% 13,000 4.07% 4.35% 4.53% 4.62% 4.72% 4.81% 4.90% 4.99% 14,000 3.99% 4.26% 4.45% 4.54% 4.63% 4.72% 4.81% 4.90% 15,000 3.92% 4.18% 4.36% 4.45% 4.54% 4.63% 4.72% 4.81% DELTA RETAINED EARNINGS = TIER1 CAPITAL (MLN) DELTA TOTAL EXPOSURES (MLN)
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A N N E X Funding: fixed income instruments SENIOR PREFERRED (6NC5) €300 mln, issued 16 Feb.2023 • To have an additional buffer above the fully loaded MREL requirement on LRE • Annual coupon at 4.625% (5-year mid swap rate + 150 bps vs initial guidance of 175 bps) for the first 5 years; floating rate between the fifth and sixth year • Public placement with strong demand, 4x the offer • Rated BBB+ by S&P AT1 INSTRUMENT €500 mln, issued 13 May 2026 • Annual coupon at 3.738% (5-year mid swap rate + 80 bps vs initial guidance of + 110 bps) for the first 5 years; floating rate between the fifth and sixth year • Public placement with strong demand, more than 3x the offer • Rated BBB+ by S&P €500 mln, issued 11 Mar.2024 • To maintain the leverage ratio above 4.5% • Coupon fixed at 7.5% (initial guidance at 8%) for the initial 5.5 years. First call date: 11 Sep.2029 (reset spread 4.889%) • Public placement with strong demand (7x, €3.45 bn), listed on Euronext Dublin • Semi-annual coupon; coupon (net of taxes) impacts equity reserves directly • Rated BB by S&P 46
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A N N E X ESG ratings, indices and highlights ESG RATINGS Rating agency Evaluation scale As of today S&P Global CSA From 0 to 100 71 CDP From D- to A B Sustainalytics From 100 to 0 11.4 low risk MSCI From CCC to AAA AA Standard Ethics From F to EEE EEE- with stable outlook ESG INDICES • MIB ESG (Borsa Italiana) • FTSE4Good • S&P Global 1200 ESG Index • S&P Global LargeMidCap ESG Index • Standard Ethics Italian Banks Index • Standard Ethics Italian Index ESG OFFER AND BANK'S PORTFOLIO Funds SFDR classification • 81% of total no. of ISIN (available in platform) ex Art. 8 and 9 SFDR Lending • €0.2 bn stock of green mortgages and loans Treasury • €3.0 bn of green, social and sustainable bonds • 95.2% of bonds from issuers with net-zero emissions targets • €1.4 bn of collateral switch ESG Regulation EU 2019/2088, Sustainable Finance Disclosure Regulation. ESG offer and Bank's portfolio data as of September 20th, 2026. SFDR figures calculated on the number of mutual funds available for subscription. 47