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November 3, 2026 Leader in Wealth Management, Protection & Advisory 9M26 Results Europe’s most resilient Bank, with a sustainable >20% ROE The best Q3 and 9M ever: 2026 Net income guidance upgraded to well above €10bn Ready to trigger additional growth
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MIL-BVA362-03032014-90141/VR 1 9M26 Results: excellent performance (1) According to EBA definition (2) Taking into account €2.3bn buyback finalised in October and 95% payout ratio. >12.9% not including any 9M26 Net income (3) On 25.11.26. €22 cents per share (4) Based on ISP share price as at 30.10.26, 75% cash payout ratio and 2026 Net income guidance of well above €10bn. Subject to shareholders’ approval (5) Over the 2023-9M26 period (of which >€210m in 9M26), including structure costs related to the People dedicated to sustain the initiatives/projects 36.7%Effective cost management 0.8%Zero-NPL Bank ~13.1%Rock-solid capital position World-class position in Social Impact >€1.2bn High and sustainable value creation and distribution €8.2bn Best-in-class profitability 21% €7.8bn €2.3bn €3.8bn ~7.5% Lowest-ever 9M Cost/Income ratio, best-in-class in Europe Net NPL ratio(1) at historical low, with NPL coverage up to 50.3% CET1 ratio(2), ~13.8% including additional ~70bps from DTA absorption Contribution already deployed(5) to fight poverty and reduce inequalities Net income, the best-ever 9M and Q3, with record-high revenues, Commissions and Insurance income Annualised ROE, with 26% annualised ROTE Accrued in 9M for distribution, of which >€6.1bn cash dividends Share buyback, finalised in October Cash dividend, to be paid in November(3) Dividend yield(4)
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MIL-BVA362-03032014-90141/VR 2 € m Net income The best 9M and Q3 Net income ever (1) Excluding capital gain made on the sales of Cariparma, FriulAdria and other branches (2) Excluding accounting effects from the combination with UBI Banca (3) Restated for the adoption of IFRS 17 and IFRS 9 by the Group’s insurance companies Impact of provisions/write-downs for Russia-Ukraine exposure 3,171 3,781 2,262 2,200 1,929 1,688 640 1,203 2,726 2,335 2,388 3,012 3,310 3,112 4,006 6,122 7,167 7,588 8,199 9M07(1) 9M08 9M09 9M10 9M11 9M12 9M13 9M14 9M15 9M16 9M17 9M18 9M19 9M20(2) 9M21 3,303 9M22(3) 9M23 9M24 9M25 9M26 4,386 +8% €2,645m in Q3, best Q3 ever
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MIL-BVA362-03032014-90141/VR 3 High and sustainable value creation and distribution ROTE(1), % Best-in-class and sustainable ROE/ROTE… Note: figures may not add up exactly due to rounding (1) Ratio of Net income to end-of-period tangible shareholders' equity (shareholders' equity after deduction of goodwill and other intangible assets net of relevant deferred tax liabilities). Shareholders' equity does not include AT1 capital instruments and Net income for the period. Annualised data (2) Ratio of Net income to end-of-period shareholders’ equity. Shareholders’ equity does not include AT1 capital instruments and Net income for the period. Annualised data (3) Based on ISP average number of shares in 9M26 (4) Excluding AT1, TBVPS equal to €2.8 in 9M25 and €2.9 in 9M26 9M EPS(3), € cents x Tangible book value per share(4), € … with significant growth in EPS, DPS and TBVPS 3.4 35.5 x Accrued DPS, € centsx ROE(2), % 21 23 24 26 9M24 9M25 9M26 9M24 9M25 9M26 39.6 43.0 47.2 +10% 20 3.3 30.5 €22 cents of interim DPS to be paid on 25.11.26 (+18% YoY) 19 3.2 28.2
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MIL-BVA362-03032014-90141/VR 4 Significant growth in Loans to customers, Direct deposits and Customer financial assets (1) Not including €14bn related to an Institutional client previously classified in Due to banks Loans to customers Direct deposits € bn€ bn Customer financial assets 30.9.25 30.9.26 421.1 436.2 +4% 30.9.25(1) 30.9.26 573.2 617.8 +8% € bn 30.9.25(1) 30.9.26 1,411.5 1,511.2 +7% x Assets under management 553.3 587.6 +6% YoY
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MIL-BVA362-03032014-90141/VR 5 The lowest-ever 9M Cost/Income ratio thanks to increasing Revenues and Cost reduction Cost/Income ratio € m Operating costs 39.1 36.7 9M25 9M26 Operating income % Cost/Income ratio 7,983 7,876 9M25 9M26 -€107m 20,441 21,457 9M25 9M26 +€1,016m -2.4pp €6.2bn IT investments already deployed(1) Note: figures may not add up exactly due to rounding. 2025 data restated for the outsourcing of the custodian bank business line, the integration of Fideuram Asset Management UK into Eurizon SLJ Capital, and the full consolidation of Neva SGR (1) In the 2022-9M26 period f(x)
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MIL-BVA362-03032014-90141/VR 6 2026 standalone Net income guidance upgraded 2026 Net income guidance upgraded to well above €10bn 2026 Net income guidance 9M26 Results Increase in revenues, mainly driven by Commissions and Insurance income +5.0% vs 9M25 Stable Costs -1.3% vs 9M25 Significant decline in provisions LLPs -19.0% vs 9M25 Increase in tax rate (due to Italy Budget Law(1)) and in Levies and other charges concerning the banking and insurance industry Tax rate +1.2pp vs 9M25 ▪ Growth in DPS and EPS ▪ 95% total payout(2) (75% cash and 20% buyback(3)) ▪ Dividend yield(4) ~7.5%, best-in-class in Europe 2026 guidance February July November ~€10bn >€10bn Well above €10bn Note: 2025 data restated for the outsourcing of the custodian bank business line, the integration of Fideuram Asset Management UK into Eurizon SLJ Capital, and the full consolidation of Neva SGR (1) For 2026, approved in December 2025 (2) On stated Net income, subject to ECB and shareholders’ approvals (3) If CET1 ratio is >12.5% and no options for higher-ROI capital allocation to external growth are available (focusing on Wealth Management). Subject to ECB and shareholders’ approvals (4) Based on ISP share price as at 30.10.26, 75% cash payout ratio and 2026 Net income guidance of well above €10bn. Subject to shareholders’ approval
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MIL-BVA362-03032014-90141/VR 7 Our excellent performance benefits all our stakeholders Shareholders Employees Public sector Households and businesses Medium/Long-term new lending, € bnTaxes(3), € bn Net income, € bn Personnel expenses, € bn 9M26 8.2 9M26 4.8 9M26 5.2 9M26 66.4 (1) 2026 Universum’s Most Attractive Employers ranking according to Business Students in Italy (2) By Top Employers Institute (3) Direct and indirect (4) Through P&L and Capital due to Italy Budget Law for 2026, approved in December 2025 (5) Deriving from Non-performing loans outflow €7.8bn accrued in 9M for distribution, of which >€6.1bn cash dividends ~35% of cash dividends (~€2.2bn) go directly to Italian households and to charitable foundations ~1,900 Italian companies helped to return to performing status(5) in 9M (~148,600 since 2014) ISP first in Universum(1) ranking and confirmed as Top Employer Europe 2026(2) and Top Employer Italy(2) for the second and fifth consecutive year, respectively +5% vs 9M25 €0.9bn impact due to Italy Budget Law for 2026(4)
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MIL-BVA362-03032014-90141/VR 8 2026-2029 Business Plan proceeding at full speed Low Cost of risk Cost reduction Revenue growth Our People are the most important asset 2 AI/GenAI and Agentic AI evolution Proactive Administrative cost management5 Strategic insourcing at scale4 1 Extension of 3 Acceleration of generational change Global Advisors network at scale1 Enhancement of fully-owned product factories (AM, Insurance)3 Strengthening of Private Banking leadership2 Growth in Corporate and Institutional clients by scaling up dedicated platforms4 Scale-up of Consumer Finance6 Growth in International Banks8 Growth in SME client segment, leveraging synergies with IMI C&IB5 Reset of Bad loans1 4 Holistic management of all risks Active credit portfolio management2 Forward-looking credit decisions3 2.07 Launch of isywealth Europe+ 100% of 2026-2029 Business Plan initiatives already launched
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MIL-BVA362-03032014-90141/VR Contents 9M26: the best nine months ever Appendix ISP is fully equipped to succeed in any scenario Final remarks Combination with Banca Monte dei Paschi di Siena 9
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MIL-BVA362-03032014-90141/VR 10 Costs down (-1.3% vs 9M25) and lowest-ever 9M Cost/Income ratio at 36.7% €8.2bn Net income in 9M (+8% vs 9M25), of which >€2.6bn in Q3, the best 9M and Q3 ever The best nine months ever Rock-solid capital position, with CET1 ratio at ~13.1%(3) €7.8bn accrued in 9M for distribution (including >€6.1bn cash dividends, of which €3.8bn to be paid in November(1)) Note: 2025 data restated for the outsourcing of the custodian bank business line, the integration of Fideuram Asset Management UK into Eurizon SLJ Capital, and the full consolidation of Neva SGR (1) On 25.11.26. €22 cents per share (2) +5% including in 30.9.25 data an Institutional client previously classified in Due to banks (3) Taking into account €2.3bn buyback finalised in October and 95% payout ratio. >12.9% not including any 9M26 Net income Strong growth in Direct deposits (+8% vs 30.9.25(2)) and Loans to customers (+4% vs 30.9.25) Net interest income increasing in 9M (+2% vs 9M25) and quarterly (+1% vs Q2) The best nine months and Q3 ever for Operating income, Operating margin and Gross income NPL stock, ratios and inflows at historical lows with annualised Cost of risk down to 19bps €0.9bn overlays with NPL coverage up (+1.7pp vs 31.12.25 and +0.2pp in Q3) Significant increase in Customer financial assets to >€1.5 trillion (+€100bn vs 30.9.25) Best-ever 9M and Q3 for Commissions (+5% vs 9M25) and Insurance income (+6% vs 9M25)
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MIL-BVA362-03032014-90141/VR 11 9M26: €8.2bn Net income with increased Revenues and lower Costs 9M26 P&L; € m 11,366 21,457 13,581 12,637 8,199 7,718 1,451 878 44 (4,796) (2,058) (1,022) (634) (310) (4,148) (290) Other operating income/expenses Other charges/gains(1) Taxes Profits on financial assets and liabilities at fair value Net interest income Net fees and commissions Operating income Personnel Administrative Depreciation Loan loss provisions Gross income Net income Operating margin Other(2) Insurance income Note: figures may not add up exactly due to rounding. 2025 data restated for the outsourcing of the custodian bank business line, the integration of Fideuram Asset Management UK into Eurizon SLJ Capital, and the full consolidation of Neva SGR (1) Net provisions and net impairment losses on other assets, Other income (expenses), Income (Loss) from discontinued operations (2) Charges (net of tax) for integration, transformation and exit incentives, Effect of purchase price allocation (net of tax), Levies and other charges concerning the banking and insurance industry (net of tax), Impairment (net of tax) of goodwill and other intangible assets, Minority interests (3) Euribor 1M (average data) Non-motor P&C revenues at €570m (+8% vs 9M25), €642m including motor and credit-linked products Δ% vs 9M25 5.02.3 5.2 5.8 (1.3) 0.0 (4.0) (19.0) 9.4 8.19.0n.m. 152.0 13.6 (7.6)38.7 1.2pp tax rate increase mainly due to Italy Budget Law for 2026 Costs down 1.3%Euribor down 10bps(3) Stable overlays and high and increased NPL coverage (+1.7pp vs 31.12.25)
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MIL-BVA362-03032014-90141/VR 12 3Q26: >€2.6bn Net income, the best Q3 ever 3Q26 P&L; € m 478 (102) (1,273) (44)(206)(338) (700) (1,616) 0(27) 3,886 2,587 6,924 4,270 4,020 2,645 Other operating income/expenses Other charges/gains(1) Taxes Profits on financial assets and liabilities at fair value Net interest income Net fees and commissions Operating income Personnel Administrative Depreciation Loan loss provisions Gross income Net income Operating margin Other(2) Insurance income Note: figures may not add up exactly due to rounding. 2025 data restated for the outsourcing of the custodian bank business line, the integration of Fideuram Asset Management UK into Eurizon SLJ Capital, and the full consolidation of Neva SGR (1) Net provisions and net impairment losses on other assets, Other income (expenses), Income (Loss) from discontinued operations (2) Charges (net of tax) for integration, transformation and exit incentives, Effect of purchase price allocation (net of tax), Levies and other charges concerning the banking and insurance industry (net of tax), Impairment (net of tax) of goodwill and other intangible assets, Minority interests Non-motor P&C revenues at €202m (+10% vs 3Q25), €226m including motor and credit-linked products Δ% vs 3Q25 4.25.6 5.7 6.2 (3.1) 0.3 (5.3) (25.9) 11.4 11.58.8(100.0) 18.9 10.7 18.6n.m. Δ% vs 2Q26 (6.2)1.1 (1.1) (3.8) 0.7 (3.7) 5.3 (20.2) (6.0) (5.3)(9.6)(100.0) (76.8) (8.6) 10.9n.m. Costs down 2.5% Slight decline due to usual summer business slowdown Stable overlays and high and increased NPL coverage (+1.7pp vs 31.12.25)
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MIL-BVA362-03032014-90141/VR 13 Revenues increasing across all components Operating income € m 20,441 21,457 9M25(1) 9M26 +€1,016m Net interest income Net fees and commissions Insurance income Profits on financial assets and liabilities at fair value f(x) 7,339 7,718 9M25(1) 9M26 +€379m Well-diversified and resilient business model driving growth 1,372 1,451 9M25 9M26 +€79m 633 878 9M25 9M26 +€245m 11,112 11,366 9M25 9M26 +€254m% Euribor 1M (average data) +2.09+2.19 Note: figures may not add up exactly due to rounding (1) 2025 data restated for the outsourcing of the custodian bank business line, the integration of Fideuram Asset Management UK into Eurizon SLJ Capital, and the full consolidation of Neva SGR
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MIL-BVA362-03032014-90141/VR 14 Strong growth in Net interest income, further increasing in Q3 € m € m 9M25 9M26 11,112 11,366 1Q26 2Q26 3Q26 3,636 3,844 3,886 +7% +2.3% Net interest income expected to be well above €15bn in 2026, with a further significant increase in 2027 Strong yearly NII growth despite Euribor decline… … steadily increasing quarter by quarter +2.19 % Euribor 1M (average data) +1.1% +2.09 Note: figures may not add up exactly due to rounding
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MIL-BVA362-03032014-90141/VR 15 Net interest income breakdown Note: figures may not add up exactly due to rounding 9M25 Volumes Spread Financial components 9M26 139 (101) 216 11,36611,112 Commercial component € m, 9M25 vs 9M26 Net interest income – Yearly comparison % Euribor 1M (average data) +2.19 +2.09 +€254m 2Q26 Volumes Spread Financial components 3Q26 36 11 (5) 3,8863,844 Commercial component Net interest income – Quarterly comparison € m, 2Q26 vs 3Q26 % Euribor 1M (average data) +2.28+2.03 +€42m Including hedging on core deposits (as at 30.9.26: ~€170bn core deposits hedged, 4-year duration, ~1.9% yield, ~€2.5bn monthly maturities)
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MIL-BVA362-03032014-90141/VR 16 Best nine months and Q3 ever for Commissions and Insurance income Growth in Commissions and Insurance income… … with excellent Q3 performance… € m€ m 450 497 478 2,448 3Q25(1) 2,616 2Q26 2,587 3Q26 2,898 3,113 3,065 +6% … and growing AuM inflows 1,372 7,339 9M25(1) 1,451 7,718 9M26 8,711 9,169 +5% Insurance income Net fees and commissions Note: figures may not add up exactly due to rounding (1) 2025 data restated for the outsourcing of the custodian bank business line, the integration of Fideuram Asset Management UK into Eurizon SLJ Capital, and the full consolidation of Neva SGR 112 117 9M25 9M26 +4% Gross AuM inflows, € bnInsurance income Net fees and commissions Net AuM inflow growing quarterly Slight decline vs Q2 due to usual summer business slowdown Fully-owned product factories enable quick time-to-market and production/distribution synergies
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MIL-BVA362-03032014-90141/VR 17 Strong yearly growth in Commissions despite market volatility Strong increase in Commissions in 9M… 4,660 9M25 4,972 9M26 7,339 7,718 +5% +7% Commissions from Management, dealing and consultancy activities … with Q3 up strongly YoY… € m€ m 1,539 3Q25 1,677 2Q26 1,661 3Q26 2,448 2,616 2,587 +6% +8% Commissions from Management, dealing and consultancy activities … and significant growth in additional Commissions(1) from 360-degree advisory services € m 293 355 9M25 9M26 +21% x Customer financial assets managed(2) through 360-degree advisory services(3) €185bn€162bn Note: figures may not add up exactly due to rounding. 2025 data restated for the outsourcing of the custodian bank business l ine, the integration of Fideuram Asset Management UK into Eurizon SLJ Capital, and the full consolidation of Neva SGR (1) On top of traditional Commissions from Management, dealing and consultancy activities (2) Direct deposits, Assets under management and Assets under administration (3) Valore Insieme, Private Advisory, WE ADD and Sei Growth mainly driven by Management, dealing and consultancy activities Slight decline vs Q2 due to usual summer business slowdown
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MIL-BVA362-03032014-90141/VR 18 Best nine months and Q3 ever for Insurance income, driven by P&C … with growing P&C contribution(1), driven by the Non-motor business € m % As a % of Net fees and commissions + Insurance income Note: figures may not add up exactly due to rounding (1) Commissions + Insurance income (2) Individuals. Not including Credit Protection Insurance. Banca dei Territori Division perimeter (3) Including collective policies Non-motor Motor/Credit-linked products <8 14 % P&C non-motor product penetration on ISP clients(2) Best nine months and Q3 ever for Insurance income… € m Integrated Bancassurance model, leveraging >290 P&C product specialists in the Banca dei Territori Division (growing to ~360 by 2029) Health and accident(3): 60% Home and family: 23% Other: 1% Businesses: 15% 13 3 77 9M25 9M26 1,372 1,451 +6% 70 528 570 9M18 9M25 9M26 203 603 642 +8% x Q3 450 478 +6%
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MIL-BVA362-03032014-90141/VR 19 A Wealth Management, Protection & Advisory leader, with >€1.5tn in Customer financial assets, up €100bn on a yearly basis Customer financial assets(1) € bn 30.9.25(2) 30.6.26 30.9.26 1,411.5 1,511.4 1,511.2 30.9.25(3) 30.6.26 30.9.26 553.3 589.6 587.6 30.9.25(3) 30.6.26 30.9.26 273.0 295.3 295.5 30.9.25 30.6.26 30.9.26 179.0 187.4 183.2 Direct deposits Assets under management Assets under administration Direct deposits from insurance business f(x) Note: figures may not add up exactly due to rounding (1) Net of duplications between Direct deposits and Indirect customer deposits (2) Not including €14bn related to an Institutional client previously classified in Due to banks (3) Data restated for the inclusion of third-party AuM products in Assets under management (previously included in Assets under administration) +€100bn +€116.6bn gross inflow in 9M, of which +€35.4bn in Q3 +€8.2bn net inflow in 9M, of which +€2.9bn in Q3 +€34.3bn +€22.5bn +€4.2bn Stable in Q3 despite negative market performance 30.9.25(2) 30.6.26 30.9.26 573.2 612.3 617.8 +€44.6bn +€3.1bn in current accounts and deposits in Q3
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MIL-BVA362-03032014-90141/VR 20 More than 19,300 People (+~800 in 9M) fuelling Wealth Management & Protection activities … supporting the strong contribution of Wealth Management & Protection to Gross income 16% 9% 5% 12% 23% 23% 12% IMI Corporate & Investment Banking International Banks Private Banking Insurance AM(5) BdT WM(6) Wealth Management & Protection 42% Banca dei Territori 35% % of 9M26 Gross income(4) Unmatched client advisory network through Private Banking, Banca dei Territori and International Banks… ~60 IBD individual clients ~1,170 Advisory Relationship Managers ~10,950 in the Banca dei Territori Division ~4,600 Relationship Managers for Affluent clients BdT Affluent clients ~3,800 Relationship Managers for Exclusive clients(3) and 1,070 dedicated advisory centers BdT Exclusive clients ~2,550 Global Advisors with hybrid contracts(2) and >110 offices ~6,150 Financial Advisors Private Banking Division clients ~1,000 Private Bankers ~7,150 in the Private Banking Division(1) Financial Advisors ~1,230 in the IBD Division Client advisory network growing to ~22,500 People by 2029 Note: figures may not add up exactly due to rounding (1) In Italy and abroad (2) Employed with part-time indefinite-term contracts and on a self -employed basis, in order to ensure greater proximity to customers, specifically in Wealth Management & Protection (3) Clients currently served by Banca dei Territori with one of the following features: high income/spending or combinations of significant AuM/age/complex investment products (4) Excluding Corporate Centre (5) AM = Asset Management (6) BdT WM = Banca dei Territori Wealth Management
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MIL-BVA362-03032014-90141/VR 21 Best-in-class contribution from Commissions and Insurance income to revenues % Contribution from Commissions and Insurance income to Operating income(1) Well-diversified business model (1) Sample: BBVA, Deutsche Bank, HSBC, ING Group, Nordea, Santander, Standard Chartered and UBS (30.9.26 data); Barclays, BNP Paribas, Commerzbank, Lloyds Banking Group, Société Générale and UniCredit (30.6.26 data) 56 43 37 33 32 32 29 27 25 24 23 23 22 21 12 Peer 1 ISP Peer 2 Peer 3 Peer 4 Peer 5 Peer 6 Peer 7 Peer 8 Peer 9 Peer 10 Peer 11 Peer 12 Peer 13 Peer 14 Peer average: 28%
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MIL-BVA362-03032014-90141/VR 22 Costs down while strongly investing in growth and technology Operating costs € m Personnel costs Depreciation f(x) Total Operating costs Administrative costs Note: figures may not add up exactly due to rounding. 2025 data restated for the outsourcing of the custodian bank business line, the integration of Fideuram Asset Management UK into Eurizon SLJ Capital, and the full consolidation of Neva SGR 9M25 9M26 7,983 7,876 -1.3% 4,860 4,796 9M25 9M26 -1.3% 9M25 9M26 2,058 2,058 stable 1,065 1,022 9M25 9M26 -4.0%
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MIL-BVA362-03032014-90141/VR 23 Workforce evolution Our tech transformation is enabling generational change and significant efficiency gains Note: figures may not add up exactly due to rounding (1) Signed in October 2024 and December 2025. Related costs already fully booked (2) Employed with part-time indefinite-term contracts and on a self-employed basis, in order to ensure greater proximity to customers, specifically in Wealth Management & Protection (3) On top of ~1,300 People already hired in 2025, mainly as Global Advisors. Of which ~2,200 from agreements already signed with Italian Labour Unions (4) 2030 ~€570m savings at run rate(4), with no impact on revenues thanks to tech/AI-enabled process streamlining 31.12.25 (~9,750) Voluntary exits in Italy including natural turnover (~2,650) Net reduction due to natural turnover at our International Banks ~6,300 New hires of young people in Italy(3) 31.12.29 ~90,850 ~84,750 ~12,400 exits by 2029 (of which >2,700 already realised in 9M26), on top of ~3,900 headcount reduction in 2025 Including ~2,300 Global Advisors with hybrid contracts(2) Focused on central functions ▪ ~1,600 exits from the agreements already signed with Italian Labour Unions(1) ▪ ~4,500 potential exits of People who applied to previous early retirement schemes ▪ Natural turnover People, # x 9M26 (~2,200) (~525) ~1,200 Of which ~800 Global Advisors
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MIL-BVA362-03032014-90141/VR 24 Best-in-class Cost/Income ratio in Europe % Cost/Income ratio(1) (1) Sample: Barclays, BBVA, BNP Paribas, Crédit Agricole S.A., Deutsche Bank, HSBC, ING Group, Lloyds Banking Group, Nordea, Santander, Société Générale, Standard Chartered and UBS (30.9.26 data); Commerzbank and UniCredit (30.6.26 data) 34.3 36.7 37.3 42.6 43.1 44.8 48.3 49.8 52.9 53.7 55.9 56.3 56.6 58.5 59.4 68.6 Peer 1 ISP Peer 2 Peer 3 Peer 4 Peer 5 Peer 6 Peer 7 Peer 8 Peer 9 Peer 10 Peer 11 Peer 12 Peer 13 Peer 14 Peer 15 Peer average: 50.8%
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MIL-BVA362-03032014-90141/VR 25 Lowest-ever 9M Cost of risk, with a strong increase in NPL coverage € m Cost of risk bps; annualised 783 634 9M25 9M26 Low Cost of risk, in line with Zero-NPL Bank status Loan loss provisions €0.9bn overlays Note: figures may not add up exactly due to rounding 25 19 9M25 9M26 NPL coverage 31.12.25 30.6.26 30.9.26 48.6 50.1 50.3 +1.7pp High and strongly increased NPL coverage %
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MIL-BVA362-03032014-90141/VR 26 Zero-NPL Bank status with high-quality origination NPL inflow(2) from Performing loansNPL stock Net NPL ratio(1), %xNet NPL€ bn Net inflow(3)€ bn 30.9.25 30.9.26 9.9 8.3 4.8 4.1 0.81.0 Well-diversified loan portfolio, with no single industry sector exposure representing >5% of Loans to customers Of which only €1.15bn in Bad loans 9M25 9M26 2.2 2.0 1.8 1.7 Note: figures may not add up exactly due to rounding (1) According to EBA definition (2) Inflow to NPL (Bad loans, Unlikely to pay and Past due) from Performing loans (3) Inflow to NPL (Bad loans, Unlikely to pay and Past due) from Performing loans minus outflow from NPL into Performing loans (4) Gross Lowest-ever 9M NPL inflow(4) (-17% in Q3 vs Q2)
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MIL-BVA362-03032014-90141/VR 27 Rock-solid capital base, well above SREP requirements Note: figures may not add up exactly due to rounding (1) €7.8bn accrued for distribution – considering 95% payout ratio – and €0.3bn AT1 coupons in 9M26 (2) Considering 95% payout ratio. >12.9% not including any 9M26 Net income %, bps ISP 2026 fully loaded requirements SREP + combined buffer CET1 ratio evolution 31.12.25 ~(75) Buyback finalised in October 31.12.25 post buyback ~265 Net income ~(260) Dividends and AT1 coupons(1) ~(15) RWA evolution ~(35) Valuation reserves ~40 DTA and others 30.9.26(2) >13.9% ~13.2% ~13.1% 10% ~13.8% including additional ~70bps from DTA absorption ISP is a clear winner of the EBA stress test thanks to its well-diversified and resilient business model ~85 ~(80)~13.1% 30.6.26 ~13.1% 30.9.26(2) x Q3 evolution ~25 ~(30) ~5
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MIL-BVA362-03032014-90141/VR 28 Liquidity ratios Best-in-class MREL and sound liquidity position Note: figures may not add up exactly due to rounding (1) Preliminary management data, taking into account €2.3bn buyback finalised in October. Total ratio would be 36.8% and Subordination ratio 23.0% not including any 9M26 Net income (2) Combined Buffer Requirement (3) Last twelve-month average (4) Preliminary data (5) Stock of own-account eligible assets (including assets used as collateral and excluding eligible assets received as collateral) and cash and deposits with Central Banks MREL(1) %, requirement Buffer vs requirementx %, 30.9.26 2029 Business Plan target Buffer: 10.9 CBR(2): 4.5 MREL: 21.5 Total ratio Buffer: 5.1 CBR(2): 4.5 MREL: 13.5 Subordination ratio 37.0 23.1 €34bn €16bn 26.1 18.0 %, 30.9.26 LCR(3) NSFR(4) 137 120 ~115 ~130 Liquid assets(5) 175 185 111 102 30.9.25 30.9.26 286 287 € bn Other reserves HQLA High buffers vs regulatory requirements
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MIL-BVA362-03032014-90141/VR 29 Contents 9M26: the best nine months ever Appendix ISP is fully equipped to succeed in any scenario Final remarks Combination with Banca Monte dei Paschi di Siena 29
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MIL-BVA362-03032014-90141/VR 30 ISP is fully equipped to succeed in any scenario… (1) In the 2022-9M26 period (2) According to EBA definition Resilient profitability, rock-solid capital position even in adverse scenarios, low leverage and strong liquidity Well-diversified and resilient business model, with revenues managed in an integrated manner to create value Low Cost/Income ratio and significant tech investments (€6.2bn already deployed(1)) High strategic flexibility in managing Costs, also thanks to an acceleration in our tech transformation Zero-NPL Bank with Bad loans reset to near zero, net NPL ratio at 0.8%(2), NPL coverage at 50.3% and €0.9bn as overlays Well-diversified loan portfolio, best-in-class proactive credit management and Russia exposure near zero Long-standing, motivated and cohesive management team with a strong track record in delivering and exceeding commitments Leadership in technology, risk profile, Cost management and Wealth Management, Protection & Advisory activities
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MIL-BVA362-03032014-90141/VR 31 … and is far better positioned than its peers… Rock-solid capital base and best-in-class risk profile CET1(1)/Total illiquid assets(1)(2) %, 30.9.26 Well-diversified and resilient business model with fully-owned product factories Contribution from Commissions and Insurance income to Operating income %, 9M26 High strategic flexibility to manage Costs also thanks to significant tech investments Cost/Income ratio %, 9M26 Note: figures may not add up exactly due to rounding (1) Sample (latest available data): Barclays, BBVA, BNP Paribas, Commerzbank, Crédit Agricole S.A., Deutsche Bank, HSBC, ING Group, Lloyds Banking Group, Nordea, Santander, Société Générale, Standard Chartered, UBS and UniCredit (2) Total illiquid assets include net NPL stock, Level 2 assets and Level 3 assets (3) Calculated as the difference between the CET1 ratio vs 2026 requirements SREP + combined buffer considering macroprudential capital buffers and estimating the Countercyclical Capital Buffer and the Systemic Risk Buffer (4) Taking into account 95% payout ratio (5) Sample (latest available data): BBVA, BNP Paribas, Commerzbank, Crédit Agricole S.A., Deutsche Bank, ING Group, Nordea, Santander, Société Générale and UniCredit (6) Sample (latest available data): Barclays, BBVA, BNP Paribas, Commerzbank, Deutsche Bank, HSBC, ING Group, Lloyds Banking Group, Nordea, Santander, Société Générale, Standard Chartered, UBS and UniCredit 45 22 ISP(4) Peer average 43 28 ISP Peer average(6) 36.7 50.8 ISP Peer average(1) ~380bps considering DTA absorption Buffer vs 2026 requirements SREP + combined buffer(3), bps, 30.9.26 x ~270(5)~310
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MIL-BVA362-03032014-90141/VR 32 … also thanks to a unique Commissions-driven and efficient business model, coupled with strong tech investments (1) Sample: Barclays, BBVA, BNP Paribas, Deutsche Bank, HSBC, ING Group, Lloyds Banking Group, Nordea, Santander, Société Générale, Standard Chartered and UBS (30.9.26 data); Commerzbank and UniCredit (30.6.26 data) (2) Sample: BBVA, Deutsche Bank, HSBC, ING Group, Nordea, Santander, Standard Chartered and UBS (30.9.26 data); Barclays, BNP Paribas, Commerzbank, Lloyds Banking Group, Société Générale and UniCredit (30.6.26 data) (3) Sample: BBVA, Nordea, Santander, Standard Chartered and UBS (30.9.26 data); Barclays, BNP Paribas, Commerzbank, HSBC, ING Group, Lloyds Banking Group, Société Générale and UniCredit (30.6.26 data); Deutsche Bank (31.12.25 data) Depreciation on Operating costs(3),% >12%10%-12%<10% 11 12 13 14 15 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 37 564038 0 36 40 41 45 50 42 55 35 60 43 65 10 70 39 44 5516 Cost/Income(1) % (reverse scale) Contribution from Commissions and Insurance income to Operating income(2),% Peer average: 50.6% Peer average: 28.2% Peer 1 Peer 2 Peer 3 Peer 4 Peer 5 Peer 7 Peer 6 Peer 8 Peer 9Peer 10 Peer 11 Peer 12 Peer 13 Peer 14
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MIL-BVA362-03032014-90141/VR 33 ISP can count on top-notch asset quality… Net NPL stock for the main European banks(1) € bn (1) Sample: Crédit Agricole Group, Deutsche Bank, ING Group, Nordea and Société Générale (30.9.26 data); BBVA, BNP Paribas, Commerzbank, Santander and UniCredit (30.6.26 data) (2) According to EBA definition. Data as at 30.6.26 (3) Source: Pillar 3, Pillar 3 data hub, Investor presentations, press releases, conference calls and financial statements 30.9.26 x Net NPL ratio(2) x Gross NPL ratio(2) 19.9 15.7 15.2 10.7 9.4 8.0 6.9 6.5 4.1 4.0 2.4 Only €1.15bn in Bad loans ISP is among the best banks in Europe for NPL stock and ratios 1.6%3.0% 2.4% 0.8%1.4%1.9% 1.7% 2.0% 0.8%1.8% 1.3% 0.6% 2.1% 1.1%1.1%1.0% 2.5% 1.1%1.2% 0.9% 1.2% 0.8% Peer 1 Peer 2 Peer 3 Peer 4 Peer 5 Peer 6 Peer 7 Peer 8 Peer 9 Peer 10
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MIL-BVA362-03032014-90141/VR 34 … a low level of Stage 2 loans… Net Stage 2 loans(1) € bn x Stage 2 in % of Net loans(1) 5%11% 8% 4%9%10% 10% 8%7%7% (1) Sample: BBVA, Deutsche Bank, Nordea and Société Générale (30.9.26 data); BNP Paribas, Crédit Agricole Group, Santander and UniCredit (30.6.26 data); ING Group (31.12.25 data) 142 82 67 59 50 47 44 33 30 15 30.9.26 -3% vs 30.9.25 Peer 1 Peer 2 Peer 3 Peer 4 Peer 5 Peer 6 Peer 7 Peer 8 Peer 9
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MIL-BVA362-03032014-90141/VR 35 … and a high level of NPL coverage NPL coverage(1) % (1) Sample: Crédit Agricole Group, Deutsche Bank, ING Group, Nordea and Société Générale (30.9.26 data); BBVA, BNP Paribas, Commerzbank, Santander and UniCredit (30.6.26 data) 55.3 50.3 46.5 45.9 45.8 44.8 42.7 38.2 34.4 33.1 26.1 NPL coverage among the best in Europe Peer average: 41.3% Peer 1 Peer 2 Peer 3 Peer 4 Peer 5 Peer 6 Peer 7 Peer 8 Peer 9 Peer 10
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MIL-BVA362-03032014-90141/VR 36 Russia exposure near zero Loans to customers net of provisions – Banca Intesa, € bn Local presence in Russia Loans to customers net of ECA(1) guarantees and provisions, € bn 30.6.22 30.9.26 <0.1 3.2 Cross-border exposure to Russia No new financing/investment since the beginning of the conflict Note: figures may not add up exactly due to rounding (1) Export Credit Agencies 30.6.22 30.9.26 0.0 0.4
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MIL-BVA362-03032014-90141/VR 37 Italy’s strong fundamentals support the resilience of the economy… Low debt/high wealth households Record-high deposits, with ~2% YoY growth expected over the 2026-2029 Business Plan horizon Strong gross wealth (€13 trillion, of which €6.5 trillion in financial assets) paired with low debt level Unemployment rate close to historical lows (5.9% in 9M), with employment and activity rates close to their highest levels Resilient and adaptive corporates and banks Very resilient companies with high liquidity buffers and solid financial leverage Export-oriented companies highly diversified in terms of sector and destination markets Strongly adaptive ecosystem with default rates expected to remain low A highly-capitalised, liquid and profitable banking system, coupled with a low-risk profile (net NPL ratio at ~1.3%(1)) Source: ISP Research Department (1) March 2026 data (2) Average annual GDP growth adjusted for working days Stronger resilience to shocks Italian GDP expected to grow 0.7%(2) per year over the 2026-2029 Business Plan horizon (0.9% in 2026, 0.8% in 2027) Macroeconomic scenario with a “normalised” interest rate environment (ECB depo rate expected at 2.75% by 31.12.26) Italy’s rating upgraded in 2025 by Fitch, S&P, Moody’s and Morningstar DBRS; in 2026, outlook revised to positive by S&P Stronger resilience to energy shocks than in 2022-23 due to higher gas storage levels (~90% fill rate, one of the highest in the EU), diversified energy suppliers, more LNG infrastructure, flexible demand, higher use of renewables and lower oil needs
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MIL-BVA362-03032014-90141/VR 38 … and Italian corporates are by far stronger than in the past Italian corporates are far better capitalised than in the past… … with liquidity buffers at historical highs Financial Debt/Financial Debt + Equity, % Deposits/Loans to non-financial companies, % Resilient and adaptive Italian corporates 45 42 37 34 31 2007- 2012 2013- 2019 2020- 2021 2022- 2023 2024- Aug. ‘26 2007- 2012 2013- 2019 2020- 2021 2022- 2023 2024- 2025 20 32 56 62 70
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MIL-BVA362-03032014-90141/VR 39 Contents 9M26: the best nine months ever Appendix ISP is fully equipped to succeed in any scenario Final remarks Combination with Banca Monte dei Paschi di Siena 39
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MIL-BVA362-03032014-90141/VR 40 Progress update on MPS Voluntary Public Tender and Exchange Offer (1) Apart from the Antitrust and the so-called Italian Golden Power approvals, whose reception is not binding for the launch of the Offer (2) Apart from the so-called Italian Golden Power, not binding for the launch of the Offer (3) To be paid on 25.11.26 (4) FactSet. Data based on official prices as at 5.6.26 Cash component increased to €1.25 from €1.00 for each MPS share (raising the total cash consideration to €3.8bn) 15.3% premium offered to MPS shareholders vs the initial 12.5%(4) premium announced on 8.6.26 Exchange ratio increased to 1.664x to fully offset the effect of the detachment of the €22 cents per share interim dividend(3) Updated terms of the Offer Additional initiatives for Siena and Tuscany Establishment in Siena of a secondary office for ISP’s central structures and evaluation of a new Sales Department in Tuscany Creation in Siena of a technology hub specialising in the end-to-end management of specific business applications Lending increase in the territory All approvals received(1) Approvals received from the relevant sector Regulatory supervisory authorities (including the ECB and IVASS) Transaction approved by ISP Extraordinary Shareholder General Meeting (EGM) by 97% of the ordinary shares represented Approvals received related to Foreign Direct Investment(2) (FDI) and Foreign Subsidies Regulation (FSR)
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MIL-BVA362-03032014-90141/VR 41 Consideration offered update and transaction structure Note: refer to the communication pursuant to article 102 of Legislative Decree 24 February 1998 no. 58 for further information on the Offer (1) FactSet. Data based on official prices (2) Preliminary estimate subject to Antitrust decision (3) Including equity investments and NPL (4) Preliminary estimates Exchange ratio and cash offered The Offer envisages an exchange ratio of 1.664 (increased by an amount sufficient to fully offset the effect of the detachment of the €22 cents per share interim dividend), plus €1.25 cash for every MPS share tendered representing: ▪ A 15.3% premium based on the volume-weighted average share price of MPS(1) as at 5 June 2026 ▪ A 21.6% premium based on the latest six-month volume-weighted average share price of MPS prior to 5 June 2026(1) ISP to retain Mediobanca and its brand, ~625(2) MPS branches and selected MPS activities (~80% MPS + Mediobanca Net income(4)) ISP has reached a binding Agreement with Unipol to sell for cash a self-standing banking legal entity (with the MPS brand) to proactively manage Antitrust issues The Agreement provides that the vast majority of MPS central structures/head office and a portion of the banking network (~635 branches(2)), with related assets and liabilities, identified to proactively manage Antitrust issues are part of the self-standing banking legal entity (including the MPS brand) being sold With reference to MPS central structures, a limited part (with related assets and liabilities(3)) shall be included in the banking perimeter to be retained by ISP following the corporate reorganisation Cash consideration equal to ~€3.0bn-€3.5bn(4) Main conditions of the Offer and approvals Other conditions would include inter alia MPS not adopting any defensive measures (even if authorised at MPS shareholders’ meeting) or measures inconsistent with the objectives of the Offer The Offer will be subject to ISP acquiring at least 66.67% of MPS share capital (this condition may be waived by ISP at its own discretion) The Offer will be subject to inter alia unconditional Antitrust and the so-called Italian Golden Power approvals
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MIL-BVA362-03032014-90141/VR 42 MPS + Mediobanca ~80% MPS + Mediobanca Net income retained Source: ISP 2025 financial report and MPS 2025 presentation (including 12 months of Mediobanca). Figures may not add up exact ly due to rounding (1) Preliminary estimates (2) Excluding Levies and other charges concerning the banking and insurance industry (3) Net profit adjusted for one-offs and extraordinary items, including PPA. For 2025, gross of minorities (4) Net of duplications between Direct deposits and Indirect customer deposits (5) 0.8% according to EBA definition 2025 data, € bn Combined entity post Unipol Agreement(1) Customer financial assets(4) Customer financial assets 3611,457 1,712 of which Direct deposits from banking business 166600 711 of which Indirect customer deposits 195845 988 of which AuM 117562 649 Operating income P&L 7.627.3 33.0 Operating costs (3.5)(2)(11.5) (13.9) Net income 2.4(3)9.3 11.3 Asset quality Loans to customers 143425 526 Net NPL ratio, % 1.40.9(5) 1.1 NPL coverage, % 49.548.6 48.9
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MIL-BVA362-03032014-90141/VR 43 Timeline fully on track Note: refer to the communication pursuant to article 102 of Legislative Decree 24 February 1998 no. 58 for further information on the Offer (1) Foreign Direct Investment (2) Foreign Subsidies Regulation (3) All approvals required by Consob for the Offer document received. Ongoing procedure for the Antitrust and so -called Italian Golden Power approvals, whose reception is not binding for the launch of the Offer 8 June 2026 27 June 2026 10 September 2026 November 2026 Second half 2027 Delivery Notice pursuant to art. 102 Offer Document filing Disposal of the banking legal entity to Unipol upon the fulfilment of the conditions set forth in the Agreement ISP Shareholders’ Extraordinary General Meeting conferring mandate to the BoD for the capital increase End of October 2026 December 2026 – January 2027 Sector supervisory authorities’, FDI(1) and FSR(2) approvals (3) Approval of the Offer Document by Consob and start of the Offer period Settlement of the Offer
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MIL-BVA362-03032014-90141/VR 44 Contents 9M26: the best nine months ever Appendix ISP is fully equipped to succeed in any scenario Final remarks Combination with Banca Monte dei Paschi di Siena 44
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MIL-BVA362-03032014-90141/VR 45 ISP delivered the best nine months ever and is fully equipped to succeed in any scenario 2026-2029 Business Plan well underway and the MPS transaction is an opportunity for further value creation 9M26, the best nine months ever Fully equipped to succeed in any scenario ▪ €8.2bn Net income, of which >€2.6bn in Q3, the best 9M and Q3 ever ▪ Net interest income up 2% vs 9M25 and 1% vs Q2 ▪ The best nine months and Q3 ever for Insurance income (+6% vs 9M25) and for Commissions (+5% vs 9M25) ▪ The lowest-ever 9M Cost/Income ratio (36.7%) ▪ NPL stock, ratios and inflows at historical lows with annualised Cost of risk down to 19bps ▪ CET1 ratio at ~13.1%(1) ▪ €7.8bn accrued in 9M for distribution, of which >€6.1bn cash dividends (~7.5% dividend yield(2)) ▪ Resilient profitability, rock-solid capital position (as also shown in the EBA stress test), low leverage and strong liquidity ▪ Well-diversified and resilient business model: a Wealth Management, Protection & Advisory leader with fully-owned product factories and >€1.5 trillion in Customer financial assets ▪ Zero-NPL Bank with net NPL stock at only €4.1bn, Bad loans reset to near zero, net NPL ratio at 0.8%(3) and €0.9bn as overlays ▪ Significant tech investments (€6.2bn already deployed(4)) and high strategic flexibility in managing Costs ▪ Well-diversified loan portfolio and best-in-class credit management ▪ Long-standing, motivated and cohesive management team with a strong track record in delivering and exceeding commitments Note: 2025 data restated for the outsourcing of the custodian bank business line, the integration of Fideuram Asset Management UK into Eurizon SLJ Capital, and the full consolidation of Neva SGR (1) Taking into account €2.3bn buyback finalised in October and 95% payout ratio. >12.9% not including any 9M26 Net income (2) Based on ISP share price as at 30.10.26, 75% cash payout ratio and 2026 Net income guidance of well above €10bn. Subject to s hareholders’ approval (3) According to EBA definition (4) In the 2022-9M26 period ▪ Strong increase in NPL coverage (+1.7pp vs 31.12.25 and +0.2pp in Q3) ▪ Loans to customers up 4% yearly ▪ Record-high Operating income, Operating margin and Gross income ▪ +€100bn yearly growth in Customer financial assets 45
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MIL-BVA362-03032014-90141/VR 46 2026 standalone Net income guidance upgraded 2026 Net income guidance upgraded to well above €10bn 2026 Net income guidance 9M26 Results Increase in revenues, mainly driven by Commissions and Insurance income +5.0% vs 9M25 Stable Costs -1.3% vs 9M25 Significant decline in provisions LLPs -19.0% vs 9M25 Increase in tax rate (due to Italy Budget Law(1)) and in Levies and other charges concerning the banking and insurance industry Tax rate +1.2pp vs 9M25 ▪ Growth in DPS and EPS ▪ 95% total payout(2) (75% cash and 20% buyback(3)) ▪ Dividend yield(4) ~7.5%, best-in-class in Europe 2026 guidance February July November ~€10bn >€10bn Well above €10bn Note: 2025 data restated for the outsourcing of the custodian bank business line, the integration of Fideuram Asset Management UK into Eurizon SLJ Capital, and the full consolidation of Neva SGR (1) For 2026, approved in December 2025 (2) On stated Net income, subject to ECB and shareholders’ approvals (3) If CET1 ratio is >12.5% and no options for higher-ROI capital allocation to external growth are available (focusing on Wealth Management). Subject to ECB and shareholders’ approvals (4) Based on ISP share price as at 30.10.26, 75% cash payout ratio and 2026 Net income guidance of well above €10bn. Subject to shareholders’ approval
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MIL-BVA362-03032014-90141/VR 47 Contents 9M26: the best nine months ever Appendix ISP is fully equipped to succeed in any scenario Final remarks Combination with Banca Monte dei Paschi di Siena 4747
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MIL-BVA362-03032014-90141/VR 48 2026-2029 Business Plan proceeding at full speed, with key industrial initiatives well underway (1/4) 9M26 Key highlights Cost reduction, benefitting from strong tech investments already deployed ✓ 2.0 rollout and extension ongoing, progressing towards legacy decommissioning to deliver structural IT Cost reduction ✓ 33 AI/GenAI/Agentic AI projects/initiatives launched (Digital Branch, commercial roles, middle/back office, software/data, internal controls, credit processes and other activities) ✓ The technological transformation continues, with ~71% of applications already cloud-based as at 30.9.26 ✓ Finalised strategic agreements with leading global hyperscalers for Cloud and AI services over the 2026-2032 period ✓ Ongoing adoption of Generative AI and Agentic AI by the Digital Branch, with the first applications already live to support customers. Progressive increase in end-to-end automation of customer request management processes in the Digital Branch (from ~30% as at 31.12.25 to 37% as at 30.9.26) ✓ Proactive leveraging on frontier AI capabilities to accelerate SDLC(1) modernisation and address the new threat landscape through a structured cyber/IT response plan with a risk-based approach ✓ Acceleration of generational change, with >2,700 People exited (out of ~12,400 exits expected by 2029) ✓ Strategic Insourcing Machine: the three pilot initiatives (Digital Branch, Cyber and Physical Security, Non-financial Risks) are currently being implemented, with ~20 additional insourcing initiatives identified ✓ Real estate rationalisation and modernisation underway, leveraging data analytics to maximise occupancy rates ✓ 4 workstreams of the Next Generation Procurement project launched (efficiency, innovative sourcing strategies, supplier governance and sustainable procurement approach), with the objective of increasing data-driven decision-making ✓ 15 legal entities rationalised since 2025, with an additional 17 companies currently undergoing rationalisation NOT EXHAUSTIVE (1) Software Development Life Cycle
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MIL-BVA362-03032014-90141/VR 49 2026-2029 Business Plan proceeding at full speed, with key industrial initiatives well underway (2/4) 9M26 Key highlights NOT EXHAUSTIVE ✓ The Global Advisors network increased to ~2,550 People and >110 Global Advisors offices in high-potential areas not covered by Exclusive branches ✓ Enlarged Banca dei Territori Division offering with new Asset Management and Protection products and strengthened the P&C specialist network (from ~210 to >290 specialists) ✓ Ongoing strengthening of the Private Bankers/Financial Advisors network in Italy (increasing by ~150 People in 9M26) ✓ Ongoing development of advanced tools to support the advisory network also with a Lifecycle and Longevity perspective ✓ International expansion of digital offering (Alpian in Switzerland and Fideuram Direct in Luxembourg and Belgium) and strengthening of Family Office relationships ✓ Rebranding of REYL to Intesa Sanpaolo Wealth Management Suisse ✓ Launched a new protection product (SFERA+) for Private Banking clients in Family, Home and Health protection areas. The product is currently being rolled out across the entire Fideuram distribution network. Completed mandatory insurance training for ~4,700 Fideuram Financial Advisors and on-site insurance training for ~200 Digital Specialists ✓ Ongoing strengthening of the Private Banking Division's Investment Center, with initiatives focused on the development of investment and advisory services, aimed at consolidating the Investment Center’s role as a Portfolio Management centre of excellence, while enhancing specialist expertise in the various asset classes and also serving foreign subsidiaries ✓ Launched Unit Linked solution featuring lifecycle strategies designed to capture market opportunities over time and two Unit Linked products, a single-premium and a recurring-premium, in Croatia ✓ Launched a Hybrid solution within the Banca dei Territori Division with four guided investment paths tailored to client age and financial profile ✓ Expanded Eurizon offering dedicated to both the Group’s Italian and international networks and third-party counterparties, with a continued focus on educational programmes Revenue growth fuelled by Wealth Management, Protection & Advisory leadership
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MIL-BVA362-03032014-90141/VR 50 2026-2029 Business Plan proceeding at full speed, with key industrial initiatives well underway (3/4) 9M26 Key highlights (1) Excluding Intesa Sanpaolo Bank – Ukraine (former Pravex) NOT EXHAUSTIVE ✓ Ongoing strengthening of the IMI C&IB commercial analytics to increase cross-selling through client-level origination strategies, also supported by AI ✓ Activated additional initiatives to increase Balance Sheet velocity (e.g., synthetic solutions for risk distribution, distribution partnerships with selected investors) ✓ Completed additional technological releases on the Isybiz digital platform (e.g., cash management and digitalisation of trade finance processes), supporting the service model evolution towards a digital-first approach (e.g., the new corporate portal) ✓ Design phase underway for the setup of the Group’s Private Market platform, through a collaboration between the IMI C&IB and Private Banking Divisions ✓ Fully operational the Global Markets business transformation program, with initiatives involving proprietary platforms, development of traditional (e.g., FICC, equities, certificates) and innovative products (e.g., digital assets), as well as new ways of working of the Sales & Trading teams (e.g. automation, AI). The new Connecting Markets platform, powered by an AI-based engine, was launched in late July to support Italian companies’ international expansion and networking also through the identification of new customers, partners and suppliers across 170 countries worldwide ✓ Strengthened the Group’s position in Digital Assets through more than 20 strategic initiatives across crypto-assets, tokenisation and stablecoins. Confirmed the Group’s role in the two ECB Digital Euro initiatives with selected as Payment Service Provider (PSP) for the retail Digital Euro pilot and ISP participating in the Pontes and Appia wholesale projects ✓ The strategic partnership with BancoPosta was reinforced by offering salary-backed loans through all post offices, to strengthen ISP Group’s presence in Consumer Finance. In September, Prestitalia and Findomestic finalised an agreement to distribute personal loans ✓ Continuous growth of reaching ~1.3m clients, with ~1,130,000 accounts opened by new customers (~230,000 in 9M26) ✓ Launched the new Financial Advisors model in IBD geographies, with 60 Financial Advisors in Slovakia and Hungary; launch phase started in Croatia and Slovenia ✓ Activated a new brand positioning campaign across IBD banks(1), focused on advisory services ✓ Released in Hungary, Croatia and Serbia the new mobile app, with new features and an enhanced user experience. Extension expected by year end in Slovakia, Slovenia, Romania, Albania and Bosnia and Herzegovina ✓ Completed in Slovenia and Croatia the development activities for the Digital Onboarding process consolidating the digital customer acquisition journey ✓ Completed at IBD data-driven segmentation for Retail & WM, for Corporates and SMEs, Small Businesses, supporting the focus on high-potential clients and optimisation of cost to serve ✓ Work on defining isywealth Europe’s target business and technology operating model is progressing in line with the planned roadmap Revenue growth fuelled by Wealth Management, Protection & Advisory leadership
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MIL-BVA362-03032014-90141/VR 51 9M26 Key highlights 2026-2029 Business Plan proceeding at full speed, with key industrial initiatives well underway (4/4) NOT EXHAUSTIVE Low Cost of risk thanks to Zero- NPL Bank status and high-quality origination ✓ Bad loans reset to near zero ✓ Credit governance framework upgraded through newly-established strategic and operational credit committees ✓ Strengthening of forward-looking credit guidelines for origination ongoing ✓ Developed the first enhanced prototype of Early Warning System models for credit risk, by incorporating additional forward-looking elements and market data, also adopting new methodologies (e.g., Machine learning) ✓ Consolidation of a holistic framework for Non-financial Risks management through the isycontrols project and other initiatives aimed at enhancing the internal control model ✓ Further strengthening of the control framework by adopting AI and GenAI ✓ Activities of the NEMO Program are in an advanced stage of implementation, with the aim of further strengthening and innovating the control and protection system of customers’ personal data ✓ Fully on track the implementation of the Global Defence Center, a strategic initiative aimed at strengthening the Group’s internal capabilities and specialised know-how in corporate security and cybersecurity, through reskilling programs supporting the new operating model ✓ Launched a new action plan in response to threats from frontier AI models (e.g., Mythos) with cross-functional initiatives to strengthen ICT safeguards ✓ Implemented additional initiatives, targeting internal and external stakeholders, to strengthen the Group-wide risk and security culture, raising awareness on fraud, scams and info-physical risks ✓ In 3Q26, three new synthetic securitisations completed for a total of ~€6.1bn. As at 30.9.26, the outstanding securitised portfolio included in the SRT Program was ~€38bn ✓ Further strengthening of the Climate and Environmental Risk Framework through the ESG Credit Framework project A world-class position in Social Impact, while supporting clients in the sustainable transition Social Impact: ✓ Disbursed €4.4bn in social lending to strengthen financial inclusion ✓ Finalised a blended finance agreement with the EIB for €300m to support social housing and student residences in Italy ✓ >€210m(1) contribution already deployed to fight poverty and reduce inequalities improving socio-economic conditions of ~315,000 vulnerable individuals. Education, orientation, and employability initiatives launched, reaching ~25,000 young people Sustainable Transition: ✓ Disbursed ~€15.1bn for the sustainable transition(2) ― To support the energy transition, deployed incentives for dedicated deals and launched energy efficiency initiatives aimed at improving the development and refurbishment of non-residential buildings in Italy ― To support SMEs in accessing credit and investments for environmental sustainability, two blended finance agreements finalised with the EIB for €700m ✓ Renewed strategic partnership with the Ellen MacArthur Foundation on the Circular Economy ✓ Achieved significant progress on decarbonisation across all portfolios (e.g., -41% absolute financed emissions vs 2022) and on own absolute emissions (-39% vs 2019) Culture and Innovation: ✓ Continuous commitment to culture with dedicated initiatives, also in partnership with public/private institutions (e.g., 9 new exhibitions with ~600,000 visitors and publication of 16 art books) ✓ Promotion of innovation, with 410 innovation initiatives and startup services carried out by Intesa Sanpaolo Innovation Center (1) Of which ~€130m in 1H26, generating ~€490m social and economic impact, calculated by taking into account both the monetised value of the benefits generated for the final beneficiaries of the overall social contribution and the additional economic va lue activated within the productive system. (2) Including environmental, governance and other sustainable activities (3) By Top Employers Institute Our People are the most important asset ✓ ~1,550 People involved in upskilling/reskilling for high value-added activities ✓ ~8,300 young people enrolled in dedicated development programs including Future Gen initiative ✓ The Group’s state-of-the-art welfare system further enhanced with new work-life balance initiatives, focused on needs of parents and young people ✓ Completed the selection process for candidates of the new International Graduate Program, with 30 new hires underway for 2026 ✓ ISP confirmed as Top Employer Europe 2026(3) and Top Employer Italy(3) for the second and fifth consecutive year, respectively; ISP first in the Most Attractive Employers ranking chosen by Business Students in Italy
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MIL-BVA362-03032014-90141/VR 52 Leading ESG position: main sustainability ratings Main indexes and awards: (D) (1) Classified as Diversified Financial Services & Capital Markets Industry by S&P MSCI ESG Rating (D)(D) In the 2026 Extel ranking, Intesa Sanpaolo was confirmed first in Europe for the 7 th consecutive year for ESG aspects in the banking sector Range (best to worst): AAA to CCC S&P Global – ESG Score Range (best to worst): 100 to 0 CDP – Climate Score Range (best to worst): A to D- (1) (1) Note: sample includes Barclays, BBVA, BNP Paribas, Crédit Agricole, Commerzbank, Deutsche Bank, HSBC, ING Group, Lloyds Banking Group, Nordea, Santander, Société Générale, Standard Chartered, UBS and UniCredit Source: MSCI ESG Ranking (Source: Bloomberg) data as at 28.10.26; S&P Global ESG Score (https://www.spglobal.com/sustainable1/en/solutions/esg-scores-data as at 28.10.26); CDP Climate Change Score 2025 (https://cdp.net/en/data/scores) 88 82 70 69 69 68 68 63 61 61 59 58 56 55 52 47 Peer 1 Peer 2 Peer 3 Peer 4 Peer 5 Peer 6 Peer 7 Peer 8 Peer 9 Peer 10 Peer 11 Peer 12 Peer 13 Peer 14 Peer 15 Peer 1 Peer 2 Peer 3 Peer 4 Peer 5 Peer 6 Peer 7 Peer 8 Peer 9 Peer 10 Peer 11 Peer 12 Peer 13 Peer 14 Peer 15 A A A A A A A- A- A- A- B B B C n.a. n.a. Peer 1 Peer 2 Peer 3 Peer 4 Peer 5 Peer 6 Peer 7 Peer 8 Peer 9 Peer 10 Peer 11 Peer 12 Peer 13 Peer 14 Peer 15 AAA AAA AAA AAA AAA AAA AAA AA AA AA AA AA AA AA AA AA
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MIL-BVA362-03032014-90141/VR 53 Addressing the key systemic social challenges in the countries where we operate Contribution to fight poverty and reduce inequalities >€210m(1) deployed ~€1bn Continuous commitment to culture Temporary exhibitions and art books 25 ~100 ~25% New social lending ~€25bn(2) ~18% Strengthening financial inclusion through social lending ~€200m ~6% ~29%~1,400410 initiatives and services by Promoting innovation €4.4bn A world-class position in Social Impact… 2026-2029 Business Plan main ESG initiatives Results achieved as at 30.9.26 2026-2029 Business Plan targets Result achieved vs BP targetx MAIN HIGHLIGHTS Educational activities and workshops for schools 3,900 ~10,000 ~39% €11.7m investments managed by Investments in startups Innovation initiatives and startup services (1) >€1.2bn over the 2023-9M26 period, including structure costs related to the People dedicated to sustain the initiatives/projects (2) Business Plan target envisages that 30% of MLT new lending over the 2026-2029 horizon is sustainable lending, with a strong focus on social and environmental activities (equal to ~€112bn assuming ~€374bn total MLT new lending, of which ~€25bn social lending and ~€87bn environmental/other sustainable activities) ~21%
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MIL-BVA362-03032014-90141/VR 54 ... while supporting clients in the sustainable transition Result achieved vs BP targetxMAIN HIGHLIGHTS (1) Including environmental, governance and other sustainable activities (2) Business Plan target envisages that 30% of MLT new lending over the 2026-2029 horizon is sustainable lending, with a strong focus on social and environmental activities (equal to ~€112bn assuming ~€374bn total MLT new lending, of which ~€25bn social lending and ~€87bn environmental/other sustainable activities) (3) Eurizon perimeter (4) At Group level, in geographies where possible (5) WACI = Weighted Average Carbon Intensity, tCO2e per m$ revenue in Asset Management and tCO2e per m$ EVIC (Enterprise Value Including Cash) in Insurance (6) Gross market-based greenhouse gas emissions Supporting clients in the sustainable transition Electricity directly purchased from renewable sources(4) New MLT lending for the sustainable transition(1) ~€15.1bn ~€87bn(2) ~17% Stewardship activities in Asset Management(3) (% of financed emissions of portfolio in scope) Engagement of top 20 issuers (Insurance) 97.5% 100% in 2030 97.5% 2026-2029 Business Plan main ESG initiatives Results achieved as at 30.9.26 2026-2029 Business Plan targets 90% by 2030 ~86%~78% since 2019 18 since 2021 20 by 2030 90% Key progress on decarbonisation in 2025: ▪ Lending portfolio: 12% decrease of absolute financed emissions vs 2024 data for sectors covered by target setting (-41% vs 2022) ▪ Asset Management portfolio(3): 9% decrease of WACI(5) of investee companies related to portfolio in scope vs 2024 (-38% vs 2019) ▪ Insurance portfolio: 6% decrease of WACI(5) of investee companies related to portfolio in scope vs 2024 (-41% vs 2021) ▪ Own emissions: 6% decrease of Scope(6) 1+2 absolute emissions vs 2024 (-39% vs 2019)
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Leader in Wealth Management, Protection & Advisory Europe’s most resilient Bank, with a sustainable >20% ROE 9M26 Results Detailed information
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MIL-BVA362-03032014-90141/VR 56 Key P&L and Balance sheet figures Note: figures may not add up exactly due to rounding (1) Net of duplications between Direct deposits and Indirect customer deposits (2) Taking into account €2.3bn buyback finalised in October and 95% payout ratio. >12.9% not including any 9M26 Net income € m 9M26 - Assets under administration Loans to customers 436,172 30.9.26 Customer financial assets(1) 1,511,175 of which Direct deposits from banking business 617,774 of which Direct deposits from insurance business 183,218 of which Indirect customer deposits 883,085 - Assets under management 587,574 295,511 RWA 311,811 Total assets 989,207 Operating income Operating costs (7,876) Cost/Income ratio 36.7% Operating margin 13,581 Gross income (loss) 12,637 Net income 8,199 CET1 ratio ~13.1%(2) 21,457
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MIL-BVA362-03032014-90141/VR 57 Contents Detailed consolidated P&L results Divisional results and other information Liquidity, funding and capital base Asset quality
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MIL-BVA362-03032014-90141/VR 58 € m 9M26 vs 9M25: the best 9M ever with €8.2bn Net income Note: figures may not add up exactly due to rounding. 9M25 data restated for the outsourcing of the custodian bank business line, the integration of Fideuram Asset Management UK into Eurizon SLJ Capital, and the full consolidation of Neva SGR 9M25 9M26 ∆% Net interest income 11,112 11,366 2.3 Net fee and commission income 7,339 7,718 5.2 Income from insurance business 1,372 1,451 5.8 Profits on financial assets and liabilities at fair value 633 878 38.7 Other operating income (expenses) (15) 44 n.m. Operating income 20,441 21,457 5.0 Personnel expenses (4,860) (4,796) (1.3) Other administrative expenses (2,058) (2,058) 0.0 Adjustments to property, equipment and intangible assets (1,065) (1,022) (4.0) Operating costs (7,983) (7,876) (1.3) Operating margin 12,458 13,581 9.0 Net adjustments to loans (783) (634) (19.0) Net provisions and net impairment losses on other assets (142) (199) 40.1 Other income (expenses) 19 (111) n.m. Income (Loss) from discontinued operations 0 0 n.m. Gross income (loss) 11,552 12,637 9.4 Taxes on income (3,650) (4,148) 13.6 Charges (net of tax) for integration, transformation and exit incentives (189) (182) (3.7) Effect of purchase price allocation (net of tax) (62) (49) (21.0) Levies and other charges concerning the banking and insurance industry (net of tax) (53) (24) (54.7) Impairment (net of tax) of goodwill and other intangible assets 0 0 n.m. Minority interests (10) (35) 250.0 Net income 7,588 8,199 8.1
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MIL-BVA362-03032014-90141/VR 59 2Q26 % Net interest income 3,844 3,886 1.1 Net fee and commission income 2,616 2,587 (1.1) Income from insurance business 497 478 (3.8) Profits on financial assets and liabilities at fair value 400 (27) n.m. Other operating income (expenses) 22 0 (100.0) Operating income 7,379 6,924 (6.2) Personnel expenses (1,605) (1,616) 0.7 Other administrative expenses (727) (700) (3.7) Adjustments to property, equipment and intangible assets (321) (338) 5.3 Operating costs (2,653) (2,654) 0.0 Operating margin 4,726 4,270 (9.6) Net adjustments to loans (258) (206) (20.2) Net provisions and net impairment losses on other assets (122) (13) (89.3) Other income (expenses) (68) (31) (54.4) Income (Loss) from discontinued operations 0 0 n.m. Gross income (loss) 4,278 4,020 (6.0) Taxes on income (1,393) (1,273) (8.6) Charges (net of tax) for integration, transformation and exit incentives (56) (66) 17.9 Effect of purchase price allocation (net of tax) (15) (17) 13.3 Levies and other charges concerning the banking and insurance industry (net of tax) (10) (5) (50.0) Impairment (net of tax) of goodwill and other intangible assets 0 0 n.m. Minority interests (11) (14) 27.3 Net income 2,793 2,645 (5.3) 3Q26 Q3 vs Q2: the best Q3 ever with >€2.6bn Net income Note: figures may not add up exactly due to rounding 2Q26 3Q26 ∆%€ m +11.5% vs 3Q25 +4.2% vs 3Q25 (2.5)% vs 3Q25 +8.8% vs 3Q25 +11.4% vs 3Q25
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MIL-BVA362-03032014-90141/VR 60 Quarterly P&L Note: figures may not add up exactly due to rounding. 2025 data restated for the outsourcing of the custodian bank business line, the integration of Fideuram Asset Management UK into Eurizon SLJ Capital, and the full consolidation of Neva SGR € m 1Q25 1Q262Q25 3Q25 4Q25 2Q26 Net interest income 3,632 3,800 3,680 3,684 3,636 3,844 3,886 Net fee and commission income 2,439 2,452 2,448 2,655 2,515 2,616 2,587 Income from insurance business 462 460 450 443 476 497 478 Profits on financial assets and liabilities at fair value 265 287 81 58 505 400 (27) Other operating income (expenses) (2) 0 (13) 1 22 22 0 Operating income 6,796 6,999 6,646 6,841 7,154 7,379 6,924 Personnel expenses (1,585) (1,607) (1,668) (2,165) (1,575) (1,605) (1,616) Other administrative expenses (631) (729) (698) (996) (631) (727) (700) Adjustments to property, equipment and intangible assets (372) (336) (357) (388) (363) (321) (338) Operating costs (2,588) (2,672) (2,723) (3,549) (2,569) (2,653) (2,654) Operating margin 4,208 4,327 3,923 3,292 4,585 4,726 4,270 Net adjustments to loans (224) (281) (278) (962) (170) (258) (206) Net provisions and net impairment losses on other assets (23) (84) (35) (250) (64) (122) (13) Other income (expenses) (4) 25 (2) (190) (12) (68) (31) Income (Loss) from discontinued operations 0 0 0 0 0 0 0 Gross income (loss) 3,957 3,987 3,608 1,890 4,339 4,278 4,020 Taxes on income (1,248) (1,252) (1,150) 77 (1,482) (1,393) (1,273) Charges (net of tax) for integration, transformation and exit incentives (57) (68) (64) (164) (60) (56) (66) Effect of purchase price allocation (net of tax) (24) (21) (17) (14) (17) (15) (17) Levies and other charges concerning the banking and insurance industry (net of tax) (9) (41) (3) (60) (9) (10) (5) Impairment (net of tax) of goodwill and other intangible assets 0 0 0 0 0 0 0 Minority interests (4) (4) (2) 4 (10) (11) (14) Net income 2,615 2,601 2,372 1,733 2,761 2,793 2,645 3Q26
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MIL-BVA362-03032014-90141/VR 61 Yearly analysisQuarterly analysis Net interest income Note: figures may not add up exactly due to rounding 11,112 11,366216 Volumes Spread 9M26 139 (101) +€254m Commercial component 3,844 3,886 Volumes Spread 3Q26 36 11 (5) +€42m Commercial component € m € m 2Q26 9M25Financial components Financial components Euribor 1M (average data) +2.03 % +2.28 +2.19 +2.09 Euribor 1M (average data) % Including hedging on core deposits (as at 30.9.26: ~€170bn core deposits hedged, 4y duration, ~1.9% yield, and ~€2.5bn monthly maturities)
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MIL-BVA362-03032014-90141/VR 62 Yearly analysisQuarterly analysis Net fee and commission income ▪ Best Q3 ever ▪ Slight decline vs Q2 due to the usual business slowdown in summer ▪ Growth vs 3Q25 driven by Commissions from Management, dealing and consultancy activities (+7.9%; +€122m) ▪ Record-high nine months ▪ 6.7% increase in Commissions from Management, dealing and consultancy activities (+€312m) € m € m 7,339 7,718 9M25 9M26 Note: 2025 data restated for the outsourcing of the custodian bank business line, the integration of Fideuram Asset Management UK into Eurizon SLJ Capital, and the full consolidation of Neva SGR +5.2 2,448 2,616 2,587 3Q25 2Q26 3Q26 +5.7 (1.1) % 9M26 vs 9M25 % 3Q26 vs 3Q25 and 2Q26
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MIL-BVA362-03032014-90141/VR 63 Net fee and commission income: quarterly development breakdown Note: figures may not add up exactly due to rounding. 2025 data restated for the outsourcing of the custodian bank business line, the integration of Fideuram Asset Management UK into Eurizon SLJ Capital, and the full consolidation of Neva SGR Net fee and commission income 1Q25 1Q262Q25 3Q25 4Q25 € m 2Q26 9M25 9M26 Guarantees given / received 38 43 43 41 42 36 30 124 108 Collection and payment services 170 176 165 192 171 177 178 511 526 Current accounts 323 327 325 330 318 323 323 975 964 Credit and debit cards 86 116 94 113 94 103 112 296 309 Commercial banking activities 617 662 627 676 625 639 643 1,906 1,907 Dealing and placement of securities 373 360 328 351 421 382 325 1,061 1,128 Currency dealing 3 2 4 3 2 3 2 9 7 Portfolio management 689 662 679 780 687 715 745 2,030 2,147 Distribution of insurance products 400 412 417 423 418 448 453 1,229 1,319 Other 112 108 111 103 106 129 136 331 371 Management, dealing and consultancy activities 1,577 1,544 1,539 1,660 1,634 1,677 1,661 4,660 4,972 Other net fee and commission income 245 246 282 319 256 300 283 773 839 Net fee and commission income 2,439 2,452 2,448 2,655 2,515 2,616 2,587 7,339 7,7183Q26
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MIL-BVA362-03032014-90141/VR 64 Yearly analysisQuarterly analysis Income from insurance business ▪ The best Q3 ever ▪ 10% yearly growth in Non-motor P&C revenues at €202m(1) ▪ The best 9M ever ▪ Strong growth in Non-motor P&C revenues at €570m(1) (+8%) € m € m (1) Including Commissions. Not including credit-linked products 1,372 1,451 9M25 9M26 % 9M26 vs 9M25 % 3Q26 vs 3Q25 and 2Q26 +5.8 450 497 478 3Q25 2Q26 3Q26 +6.2 (3.8)
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MIL-BVA362-03032014-90141/VR 65 Profits on financial assets and liabilities at fair value Note: figures may not add up exactly due to rounding Yearly analysis Quarterly analysis Securities portfolio and Treasury Capital markets Customers € m € m 9M25 57 279 297 3Q25 (115) 100 96 633 878 9M25 9M26 Contribution by activity € m % 9M26 vs 9M25 % 3Q26 vs 3Q25 and 2Q26 +38.7 81 400 3Q25 2Q26 3Q26 (27) n.m. n.m. 3Q26 (144) 90 27 9M26 97 266 515 2Q26 222 94 84
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MIL-BVA362-03032014-90141/VR 66 Operating costs Quarterly analysis Personnel expenses Operating costs Other administrative expenses Adjustments € m Yearly analysis Personnel expenses Operating costs Adjustments Other administrative expenses € m € m € m € m€ m€ m € m Costs down with lowest-ever 9M Cost/Income ratio at 36.7% 7,983 7,876 9M25 9M26 4,860 4,796 9M25 9M26 2,058 2,058 9M25 9M26 1,065 1,022 9M25 9M26 Strong investments in growth and technology Note: 2025 data restated for the outsourcing of the custodian bank business line, the integration of Fideuram Asset Management UK into Eurizon SLJ Capital, and the full consolidation of Neva SGR % 9M26 vs 9M25 % 3Q26 vs 3Q25 and 2Q26 (1.3) (1.3) stable (4.0) 2,723 2,653 2,654 3Q25 2Q26 3Q26 1,668 1,605 1,616 3Q25 2Q26 3Q26 698 727 700 3Q25 2Q26 3Q26 357 321 338 3Q25 2Q26 3Q26 (2.5) stable (3.1) +0.7 +0.3 (3.7) (5.3) +5.3
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MIL-BVA362-03032014-90141/VR 67 Net adjustments to loans Yearly analysis Quarterly analysis ▪ Strong increase in NPL coverage to 50.3% (+1.7pp vs 31.12.25) ▪ €0.9bn overlays ▪ Annualised Cost of credit at 19bps ▪ NPL stock, ratios and inflows at historical lows ▪ Net NPL stock at just €4.1bn € m € m % 9M26 vs 9M25 % 3Q26 vs 3Q25 and 2Q26 278 258 206 3Q25 2Q26 3Q26 783 634 9M25 9M26 (19.0) (25.9) (20.2)
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MIL-BVA362-03032014-90141/VR 68 Contents Detailed consolidated P&L results Divisional results and other information Liquidity, funding and capital base Asset quality
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MIL-BVA362-03032014-90141/VR 69 >€1.5 trillion in Customer financial assets Note: figures may not add up exactly due to rounding (1) Net of duplications between Direct deposits and Indirect customer deposits (2) Not including €14bn related to an Institutional client previously classified in Due to banks (3) Data restated for the inclusion of third-party AuM products in Assets under management (previously included in Assets under administration) Customer financial assets (1) Direct deposits from banking business Direct deposits from insurance business Indirect customer deposits € bn€ bn € bn€ bn Assets under adm. Assets under mgt. % 30.9.26 vs 30.9.25 and 30.6.26 1,411 1,511 1,511 30.9.25(2) 30.6.26 30.9.26 573 612 618 30.9.25(2) 30.6.26 30.9.26 553 590 588 273 295 296 30.9.25(3) 30.6.26 30.9.26 826 885 883 179 187 183 30.9.25 30.6.26 30.9.26 +7.1 - +7.8 +0.9 +2.4 (2.3) +6.9 (0.2) ▪ €100bn increase on a yearly basis
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MIL-BVA362-03032014-90141/VR 70 Funding mix Note: figures may not add up exactly due to rounding (1) Including Senior non-preferred (2) Certificates of deposit + Commercial papers (3) Including Certificates Retail Total % 25 75 100 Wholesale Retail € bn; 30.9.26 Breakdown of Direct deposits from banking business 155 618 463 Percentage of total 24 391Current accounts and deposits 41 -Repos and securities lending 5Senior bonds(1) 5Subordinated liabilities 6 61(3)Other deposits 27 -Covered bonds 19(2) -Short-term institutional funding 6 Placed with Private Banking clients ▪ Retail funding represents 75% of Direct deposits from banking business ▪ 84% of Household deposits are guaranteed by the Deposit Guarantee Scheme (64% including Corporates) ▪ Very granular deposit base: average deposits ~€12k for Households (~19.7m clients) and ~€69k for Corporates (~1.8m clients) ~75% Households ~25% Corporates 33 Wholesale
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MIL-BVA362-03032014-90141/VR 71 Strong funding capability: broad access to international markets Note: figures may not add up exactly due to rounding (1) As disclosed on 2.2.26. Funding mix and size could change according to market conditions and asset growth (2) Not considering the €0.5bn covered bond issued by VUB Banka (3) Not considering the €1.5bn covered bond issued by VUB Banka 2026 - 2028 MLT maturities Main wholesale issues € bn Retail Wholesale 9M26 public wholesale issues € bn No further public wholesale issues related to 2026 funding plan expected in Q4, not considering any 2027 pre-funding 2026 ◼ €1.25bn AT1, €1.5bn covered bond, €0.5bn Tier 2, €1.25bn green senior non- preferred and $3.5bn 3-tranche (tranches: 2 SNP and 1 Tier 2) bond placed. On average(3) 92% demand from foreign investors; orderbooks average(3) oversubscription ~4.5x ❑ February: €1.25bn AT1 dual-tranche Perp-NC6 & Perp-NC10 issue with the lowest- ever Reset Spread for ISP ❑ April: €0.75bn covered bond issued by VUB Banka ❑ May: €0.5bn 10y Tier 2 bond issued by Intesa Sanpaolo Assicurazioni, one of the strongest demand outcomes recorded in the EUR insurance subordinated market in 2026 ❑ June: €1.25bn 8NC7 green senior non-preferred bond, with the tightest spread ever achieved by ISP for an SNP transaction, and a $3.5bn 3-tranche bond: $1.5bn 4NC3 SNP, $1bn 6NC5 SNP and $1bn 11NC10 Tier 2, with the tightest level ever achieved in USD in previous trades ❑ August: €0.75bn covered bond issued by VUB Banka 2 7 62 10 4Q26 FY27 10 FY28 4 17 16 2025 ◼ €0.5bn Tier 2, €1bn AT1 and €0.5bn covered bond placed. On average(2) 86% demand from foreign investors; orderbooks average(2) oversubscription ~6.0x ❑ February: €0.5bn 10y Bullet Tier 2 bond issued by Intesa Sanpaolo Assicurazioni ❑ May: €1bn AT1 PerpNC8 issue with the lowest-ever Reset Spread and €0.5bn covered bond issued by VUB Banka 2026 funding plan(1) ~2 ~4 ~2 ~8 x Subordinated debt (AT1 + T2) ~3.4 Senior debt (Non-preferred + Preferred) 1.5 Covered bonds Total ~2.6 ~8
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MIL-BVA362-03032014-90141/VR 72 High liquidity: LCR and NSFR well above regulatory requirements Note: figures may not add up exactly due to rounding (1) Stock of own-account eligible assets (including assets used as collateral and excluding eligible assets received as collateral) and cash and deposits with Central Banks (2) Eligible assets freely available (excluding assets used as collateral and including eligible assets received as collateral) a nd cash and deposits with Central Banks (3) Last twelve-month average (4) Preliminary data LCR at 137%(3) and NSFR at 120%(4) € bn Unencumbered eligible assets with Central Banks (2) (net of haircuts) € bn Liquid assets (1) 175 195 185 111 113 102 30.9.25 30.6.26 30.9.26 286 308 287 130 131 125 82 82 71 30.9.25 30.6.26 30.9.26 211 213 196 Other reserves HQLA Other reserves HQLA
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MIL-BVA362-03032014-90141/VR 73 Rock-solid capital base (1) Taking into account €2.3bn buyback finalised in October and 95% payout ratio (2) >12.9% not including any 9M26 Net income (3) 15.8% not including any 9M26 Net income (4) 19.1% not including any 9M26 Net income (5) 5.7% not including any 9M26 Net income Total capital ratio Common equity ratio Tier 1 ratio %%% €7.8bn accrued in 9M for distribution, of which >€6.1bn cash dividends €7.8bn accrued in 9M for distribution, of which >€6.1bn cash dividends €7.8bn accrued in 9M for distribution, of which >€6.1bn cash dividends 30.6.26(1) 30.9.26(1)(2) ~13.1 ~13.1 15.9 15.9 30.6.26(1) 30.9.26(1)(3) 19.0 19.2 30.6.26(1) 30.9.26(1)(4) ~13.8% including additional ~70bps benefit from DTA absorption 5.8%(5) leverage ratio
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MIL-BVA362-03032014-90141/VR 74 Contents Detailed consolidated P&L results Divisional results and other information Liquidity, funding and capital base Asset quality
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MIL-BVA362-03032014-90141/VR 75 Non-performing loans stock and ratios at historical lows Note: figures may not add up exactly due to rounding Gross NPL ratio, % x Net NPL ratio, % x Net NPL Gross NPL TotalTotal Past duePast due - of which forborne- of which forborne - of which forborne- of which forborne - of which forborne- of which forborne Bad loansBad loans Unlikely to payUnlikely to pay € m€ m Gross and net NPL ratio based on EBA definition, % x 30.9.25 2.3 2.0 30.9.25 1.1 1.0 30.9.26 0.9 0.8 30.9.26 1.9 1.1 30.6.26 1.8 1.6 30.6.26 0.9 0.8 1.6 31.12.25 0.9 0.8 31.12.25 1.8 1.5 879 3,997 2,790 328 172 23 1,118 790 3,892 2,780 322 141 27 1,058 1,150 4,125 2,662 313 207 23 1,117 1,343 4,840 3,105 392 338 41 1,349 2,851 8,014 4,695 468 507 31 1,716 2,414 7,565 4,699 452 413 36 1,644 3,110 8,300 4,731 459 555 33 1,776 4,091 9,905 5,249 565 935 58 2,119
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MIL-BVA362-03032014-90141/VR 76 Sizeable and strongly increased Non-performing loans coverage Note: figures may not add up exactly due to rounding (1) Bad loans (Sofferenze), Unlikely to pay (Inadempienze probabili) and Past due (Scaduti e sconfinanti) Total NPL (1) Unlikely to pay Past due Bad loans Cash coverage; % 67.3 69.2 63.0 31.12.25 30.6.26 30.9.26 28.8 29.9 31.8 31.12.25 30.6.26 30.9.26 40.8 40.6 43.7 31.12.25 30.6.26 30.9.26 48.6 50.1 50.3 31.12.25 30.6.26 30.9.26
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MIL-BVA362-03032014-90141/VR 77 Non-performing loans inflows at historical lows Net inflow of new NPL (1) from Performing loans Gross inflow of new NPL (1) from Performing loans Impact from the acquisition of the two former Venetian banks Impact from the combination with UBI Banca (1) Bad loans (Sofferenze), Unlikely to pay (Inadempienze probabili) and Past due (Scaduti e sconfinanti) € bn € bn Impact from the combination with UBI Banca Impact from the acquisition of the two former Venetian banks 10.8 9.0 6.7 4.3 3.2 3.5 3.1 3.0 2.4 2.7 2.2 2.3 2.2 2.0 9M13 9M14 9M15 9M16 9M17 9M18 9M19 9M20 9M21 9M22 9M23 9M24 9M25 9M26 7.4 6.1 4.6 2.2 1.8 2.0 2.2 2.2 1.7 2.0 1.6 1.8 1.8 1.7 9M13 9M14 9M15 9M16 9M17 9M18 9M19 9M20 9M21 9M22 9M23 9M24 9M25 9M26
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MIL-BVA362-03032014-90141/VR 78 Non-performing loans gross inflow Note: figures may not add up exactly due to rounding (1) Bad loans (Sofferenze), Unlikely to pay (Inadempienze probabili) and Past due (Scaduti e sconfinanti) Gross inflow of new NPL (1) from Performing loans Unlikely to pay Past due Bad loans € m 2,200 2,045 9M25 9M26 50 61 9M25 9M26 1,162 1,179 9M25 9M26 988 805 9M25 9M26 Of which €660m in Q3 Of which €16m in Q3 Of which €386m in Q3 Of which €258m in Q3
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MIL-BVA362-03032014-90141/VR 79 Non-performing loans net inflow Note: figures may not add up exactly due to rounding (1) Bad loans (Sofferenze), Unlikely to pay (Inadempienze probabili) and Past due (Scaduti e sconfinanti) Net inflow of new NPL (1) from Performing loans Unlikely to pay Past due Bad loans € m 1,821 1,748 9M25 9M26 31 39 9M25 9M26 892 979 9M25 9M26 898 730 9M25 9M26 Of which €568m in Q3 Of which €8m in Q3 Of which €327m in Q3 Of which €233m in Q3
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MIL-BVA362-03032014-90141/VR 80 Loans to customers: a well-diversified portfolio Note: figures may not add up exactly due to rounding Non - retail loans of the Italian banks and companies of the Group Breakdown by economic business sector Breakdown by business area (data as at 30.9.26) 17% 15% 28% 7% 18% 11% Global Corporate International Subsidiaries Residential mortgages 3% Other Consumer finance 1%Non-profit SMEs Repos, Capital markets and Institutional Clients Public Administration 5.0% Financial companies 8.5% Non-financial companies 37.8% of which: UTILITIES 5.3% SERVICES 4.6% REAL ESTATE 2.8% INFRASTRUCTURE 2.7% FOOD AND DRINK 2.4% DISTRIBUTION 2.4% TRANSPORTATION MEANS 1.9% ENERGY AND EXTRACTION 1.8% CONSTRUCTION AND MATERIALS FOR CONSTR. 1.8% METALS AND METAL PRODUCTS 1.8% FASHION 1.4% CHEMICALS, RUBBER AND PLASTICS 1.3% AGRICULTURE 1.3% TOURISM 1.2% MECHANICAL 1.2% ELECTRICAL COMPONENTS AND EQUIPMENT 1.0% TRANSPORT 0.9% PHARMACEUTICAL 0.7% FURNITURE AND WHITE GOODS 0.4% MEDIA 0.4% WOOD AND PAPER 0.4% OTHER CONSUMPTION GOODS 0.1% 30.9.26 ◼ No material exposure to Private Credit ◼ Low risk profile of residential mortgage portfolio ❑ Instalment/available income ratio at 30% ❑ Average Loan-to-Value equal to ~58% ❑ Original average maturity equal to ~25 years ❑ Residual average life equal to ~20 years No material exposure to Private Credit
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MIL-BVA362-03032014-90141/VR 81 Contents Detailed consolidated P&L results Divisional results and other information Liquidity, funding and capital base Asset quality
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MIL-BVA362-03032014-90141/VR 82 Divisional financial highlights Divisions Note: figures may not add up exactly due to rounding (1) Excluding the Russian subsidiary Banca Intesa which is included in the Corporate Centre (2) Fideuram, Intesa Sanpaolo Private Banking, Intesa Sanpaolo Wealth Management Luxembourg, Intesa Sanpaolo Wealth Management Suisse, and Siref Fiduciaria (3) Eurizon (4) Intesa Sanpaolo Assicurazioni - which controls Intesa Sanpaolo Protezione, Intesa Sanpaolo Insurance Agency and InSalute Servizi - and Fideuram Vita (5) Treasury Department, Central Structures and consolidation adjustments Data as at 30.9.26 Banca dei Territori IMI Corporate & Investment Banking International Banks (1) Private Banking (2) Asset Management (3) Insurance (4) Corporate Centre/ Others (5) Total Wealth Management Divisions Divisions Operating income (€ m) 9,311 4,022 2,463 2,751 774 1,447 689 21,457 Operating margin (€ m) 4,946 2,967 1,448 1,992 609 1,177 442 13,581 Net income (€ m) 2,690 1,820 977 1,273 448 815 176 8,199 Cost/Income (%) 46.9 26.2 41.2 27.6 21.3 18.7 n.m. 36.7 RWA (€ bn) 86.6 114.1 44.6 17.2 3.0 0.0 46.4 311.8 Direct deposits from banking business (€ bn) 259.0 140.2 68.1 46.6 0.0 0.0 103.9 617.8 Loans to customers (€ bn) 219.2 129.6 53.1 15.9 0.3 0.0 18.0 436.2
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MIL-BVA362-03032014-90141/VR 83 Note: figures may not add up exactly due to rounding Banca dei Territori: 9M26 vs 9M25 € m 9M25 9M26 ∆% Net interest income 5,109 5,162 1.0 Net fee and commission income 3,824 3,961 3.6 Income from insurance business 0 0 n.m. Profits on financial assets and liabilities at fair value 106 181 70.8 Other operating income (expenses) 4 7 75.0 Operating income 9,043 9,311 3.0 Personnel expenses (2,445) (2,397) (2.0) Other administrative expenses (2,028) (1,967) (3.0) Adjustments to property, equipment and intangible assets (1) (1) 0.0 Operating costs (4,474) (4,365) (2.4) Operating margin 4,569 4,946 8.3 Net adjustments to loans (780) (580) (25.6) Net provisions and net impairment losses on other assets (83) (70) (15.7) Other income (expenses) 51 0 (100.0) Income (Loss) from discontinued operations 0 0 n.m. Gross income (loss) 3,757 4,296 14.3 Taxes on income (1,212) (1,524) 25.7 Charges (net of tax) for integration, transformation and exit incentives (72) (71) (1.4) Effect of purchase price allocation (net of tax) (12) (10) (16.7) Levies and other charges concerning the banking and insurance industry (net of tax) (3) (1) (66.7) Impairment (net of tax) of goodwill and other intangible assets 0 0 n.m. Minority interests 0 0 n.m. Net income 2,458 2,690 9.4
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MIL-BVA362-03032014-90141/VR 84 Note: figures may not add up exactly due to rounding Banca dei Territori: Q3 vs Q2 € m 2Q26 3Q26 ∆% Net interest income 1,748 1,715 (1.9) Net fee and commission income 1,309 1,341 2.4 Income from insurance business 0 0 n.m. Profits on financial assets and liabilities at fair value 105 44 (57.8) Other operating income (expenses) 0 5 n.m. Operating income 3,163 3,106 (1.8) Personnel expenses (803) (792) (1.4) Other administrative expenses (667) (674) 1.2 Adjustments to property, equipment and intangible assets (0) (0) (2.5) Operating costs (1,470) (1,467) (0.3) Operating margin 1,693 1,639 (3.2) Net adjustments to loans (278) (117) (57.8) Net provisions and net impairment losses on other assets (45) (5) (89.0) Other income (expenses) (0) 0 n.m. Income (Loss) from discontinued operations 0 0 n.m. Gross income (loss) 1,370 1,517 10.8 Taxes on income (483) (528) 9.3 Charges (net of tax) for integration, transformation and exit incentives (22) (23) 3.4 Effect of purchase price allocation (net of tax) (4) (3) (4.7) Levies and other charges concerning the banking and insurance industry (net of tax) (1) 0 n.m. Impairment (net of tax) of goodwill and other intangible assets 0 0 n.m. Minority interests 0 0 n.m. Net income 861 963 11.9
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MIL-BVA362-03032014-90141/VR 85 Note: figures may not add up exactly due to rounding IMI Corporate & Investment Banking: 9M26 vs 9M25 € m 9M25 9M26 ∆% Net interest income 2,279 2,466 8.2 Net fee and commission income 928 1,004 8.2 Income from insurance business 0 0 n.m. Profits on financial assets and liabilities at fair value 479 551 15.0 Other operating income (expenses) 0 1 n.m. Operating income 3,686 4,022 9.1 Personnel expenses (381) (374) (1.8) Other administrative expenses (667) (671) 0.6 Adjustments to property, equipment and intangible assets (11) (10) (9.1) Operating costs (1,059) (1,055) (0.4) Operating margin 2,627 2,967 12.9 Net adjustments to loans (98) (123) 25.5 Net provisions and net impairment losses on other assets (15) (1) (93.3) Other income (expenses) 1 (92) n.m. Income (Loss) from discontinued operations 0 0 n.m. Gross income (loss) 2,515 2,751 9.4 Taxes on income (812) (917) 12.9 Charges (net of tax) for integration, transformation and exit incentives (19) (14) (26.3) Effect of purchase price allocation (net of tax) 0 0 n.m. Levies and other charges concerning the banking and insurance industry (net of tax) 0 0 n.m. Impairment (net of tax) of goodwill and other intangible assets 0 0 n.m. Minority interests 12 0 (100.0) Net income 1,696 1,820 7.3
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MIL-BVA362-03032014-90141/VR 86 Note: figures may not add up exactly due to rounding IMI Corporate & Investment Banking: Q3 vs Q2 € m 2Q26 3Q26 ∆% Net interest income 821 885 7.8 Net fee and commission income 377 312 (17.3) Income from insurance business 0 0 n.m. Profits on financial assets and liabilities at fair value 235 (135) n.m. Other operating income (expenses) 0 1 125.7 Operating income 1,433 1,062 (25.9) Personnel expenses (126) (123) (2.0) Other administrative expenses (226) (230) 1.7 Adjustments to property, equipment and intangible assets (3) (3) (8.1) Operating costs (356) (357) 0.3 Operating margin 1,078 706 (34.5) Net adjustments to loans (34) (78) 127.6 Net provisions and net impairment losses on other assets (1) 2 n.m. Other income (expenses) (40) (52) 30.0 Income (Loss) from discontinued operations 0 0 n.m. Gross income (loss) 1,002 577 (42.4) Taxes on income (306) (233) (24.0) Charges (net of tax) for integration, transformation and exit incentives (5) (4) (9.3) Effect of purchase price allocation (net of tax) 0 0 n.m. Levies and other charges concerning the banking and insurance industry (net of tax) 0 0 n.m. Impairment (net of tax) of goodwill and other intangible assets 0 0 n.m. Minority interests 0 0 n.m. Net income 691 340 (50.8)
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MIL-BVA362-03032014-90141/VR 87 International Banks: 9M26 vs 9M25 € m Note: figures may not add up exactly due to rounding Decline largely due to the increase in the Hungary Windfall tax 9M25 9M26 ∆% Net interest income 1,830 1,803 (1.5) Net fee and commission income 541 577 6.7 Income from insurance business 0 0 n.m. Profits on financial assets and liabilities at fair value 117 125 6.8 Other operating income (expenses) (48) (42) (12.5) Operating income 2,440 2,463 0.9 Personnel expenses (518) (524) 1.2 Other administrative expenses (379) (393) 3.7 Adjustments to property, equipment and intangible assets (98) (98) 0.0 Operating costs (995) (1,015) 2.0 Operating margin 1,445 1,448 0.2 Net adjustments to loans 36 (10) n.m. Net provisions and net impairment losses on other assets (18) (5) (72.2) Other income (expenses) 1 0 (100.0) Income (Loss) from discontinued operations 0 0 n.m. Gross income (loss) 1,464 1,433 (2.1) Taxes on income (372) (386) 3.8 Charges (net of tax) for integration, transformation and exit incentives (46) (42) (8.7) Effect of purchase price allocation (net of tax) (3) (2) (33.3) Levies and other charges concerning the banking and insurance industry (net of tax) (23) (24) 4.3 Impairment (net of tax) of goodwill and other intangible assets 0 0 n.m. Minority interests (1) (2) 100.0 Net income 1,019 977 (4.1)
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MIL-BVA362-03032014-90141/VR 88 International Banks: Q3 vs Q2 € m Note: figures may not add up exactly due to rounding 2Q26 3Q26 ∆% Net interest income 598 622 4.0 Net fee and commission income 199 199 (0.0) Income from insurance business 0 0 n.m. Profits on financial assets and liabilities at fair value 65 38 (41.4) Other operating income (expenses) (15) (19) 27.5 Operating income 847 840 (0.8) Personnel expenses (176) (179) 1.4 Other administrative expenses (135) (130) (4.0) Adjustments to property, equipment and intangible assets (33) (33) 2.1 Operating costs (344) (342) (0.7) Operating margin 503 498 (1.0) Net adjustments to loans (7) (15) 106.0 Net provisions and net impairment losses on other assets (7) 9 n.m. Other income (expenses) 0 0 n.m. Income (Loss) from discontinued operations 0 0 n.m. Gross income (loss) 488 492 0.8 Taxes on income (109) (103) (5.2) Charges (net of tax) for integration, transformation and exit incentives (13) (15) 12.6 Effect of purchase price allocation (net of tax) (1) (1) 0.1 Levies and other charges concerning the banking and insurance industry (net of tax) (9) (7) (23.1) Impairment (net of tax) of goodwill and other intangible assets 0 0 n.m. Minority interests (1) (1) 13.1 Net income 356 366 2.7
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MIL-BVA362-03032014-90141/VR 89 Private Banking: 9M26 vs 9M25 € m Note: figures may not add up exactly due to rounding. Included in the single oversight unit Wealth Management Divisions 9M25 9M26 ∆% Net interest income 816 859 5.3 Net fee and commission income 1,689 1,814 7.4 Income from insurance business 0 0 n.m. Profits on financial assets and liabilities at fair value 58 53 (8.6) Other operating income (expenses) 15 25 66.7 Operating income 2,578 2,751 6.7 Personnel expenses (374) (363) (2.9) Other administrative expenses (308) (312) 1.3 Adjustments to property, equipment and intangible assets (81) (84) 3.7 Operating costs (763) (759) (0.5) Operating margin 1,815 1,992 9.8 Net adjustments to loans (6) 17 n.m. Net provisions and net impairment losses on other assets (27) (18) (33.3) Other income (expenses) 0 (9) n.m. Income (Loss) from discontinued operations 0 0 n.m. Gross income (loss) 1,782 1,982 11.2 Taxes on income (544) (677) 24.4 Charges (net of tax) for integration, transformation and exit incentives (18) (24) 33.3 Effect of purchase price allocation (net of tax) (15) (13) (13.3) Levies and other charges concerning the banking and insurance industry (net of tax) (2) 1 n.m. Impairment (net of tax) of goodwill and other intangible assets 0 0 n.m. Minority interests 10 4 (60.0) Net income 1,213 1,273 4.9
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MIL-BVA362-03032014-90141/VR 90 Note: figures may not add up exactly due to rounding. Included in the single oversight unit Wealth Management Divisions Private Banking: Q3 vs Q2 € m 2Q26 3Q26 ∆% Net interest income 289 295 2.1 Net fee and commission income 612 607 (0.8) Income from insurance business 0 0 n.m. Profits on financial assets and liabilities at fair value 19 17 (13.3) Other operating income (expenses) 6 12 106.8 Operating income 926 931 0.6 Personnel expenses (118) (118) (0.2) Other administrative expenses (103) (109) 6.5 Adjustments to property, equipment and intangible assets (28) (28) 0.6 Operating costs (249) (255) 2.7 Operating margin 678 676 (0.2) Net adjustments to loans 8 1 (87.2) Net provisions and net impairment losses on other assets (17) (6) (63.0) Other income (expenses) (3) (0) (96.0) Income (Loss) from discontinued operations 0 0 n.m. Gross income (loss) 666 671 0.8 Taxes on income (208) (226) 8.4 Charges (net of tax) for integration, transformation and exit incentives (8) (8) (3.5) Effect of purchase price allocation (net of tax) (4) (4) (4.5) Levies and other charges concerning the banking and insurance industry (net of tax) 1 0 (100.0) Impairment (net of tax) of goodwill and other intangible assets 0 0 n.m. Minority interests 1 0 (69.2) Net income 446 433 (3.0)
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MIL-BVA362-03032014-90141/VR 91 Note: figures may not add up exactly due to rounding. Included in the single oversight unit Wealth Management Divisions Asset Management: 9M26 vs 9M25 € m 9M25 9M26 ∆% Net interest income 31 29 (6.5) Net fee and commission income 657 694 5.6 Income from insurance business 0 0 n.m. Profits on financial assets and liabilities at fair value 2 1 (50.0) Other operating income (expenses) 38 50 31.6 Operating income 728 774 6.3 Personnel expenses (71) (71) 0.0 Other administrative expenses (86) (85) (1.2) Adjustments to property, equipment and intangible assets (8) (9) 12.5 Operating costs (165) (165) 0.0 Operating margin 563 609 8.2 Net adjustments to loans 2 3 50.0 Net provisions and net impairment losses on other assets 0 0 n.m. Other income (expenses) 0 0 n.m. Income (Loss) from discontinued operations 0 0 n.m. Gross income (loss) 565 612 8.3 Taxes on income (143) (157) 9.8 Charges (net of tax) for integration, transformation and exit incentives (3) (3) 0.0 Effect of purchase price allocation (net of tax) (3) (3) 0.0 Levies and other charges concerning the banking and insurance industry (net of tax) 0 0 n.m. Impairment (net of tax) of goodwill and other intangible assets 0 0 n.m. Minority interests (1) (1) 0.0 Net income 415 448 8.0
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MIL-BVA362-03032014-90141/VR 92 Asset Management: Q3 vs Q2 € m Note: figures may not add up exactly due to rounding. Included in the single oversight unit Wealth Management Divisions 2Q26 3Q26 ∆% Net interest income 10 11 7.5 Net fee and commission income 236 234 (1.0) Income from insurance business 0 0 n.m. Profits on financial assets and liabilities at fair value 0 0 95.7 Other operating income (expenses) 19 16 (18.9) Operating income 266 260 (2.0) Personnel expenses (24) (23) (4.8) Other administrative expenses (30) (29) (3.1) Adjustments to property, equipment and intangible assets (3) (3) 2.7 Operating costs (56) (54) (3.5) Operating margin 209 206 (1.5) Net adjustments to loans 1 1 0.4 Net provisions and net impairment losses on other assets (0) 0 n.m. Other income (expenses) 0 0 n.m. Income (Loss) from discontinued operations 0 0 n.m. Gross income (loss) 210 207 (1.5) Taxes on income (47) (52) 12.2 Charges (net of tax) for integration, transformation and exit incentives (1) (1) 43.6 Effect of purchase price allocation (net of tax) (1) (1) 0.0 Levies and other charges concerning the banking and insurance industry (net of tax) 0 0 n.m. Impairment (net of tax) of goodwill and other intangible assets 0 0 n.m. Minority interests (0) (0) 0.1 Net income 161 152 (5.8)
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MIL-BVA362-03032014-90141/VR 93 Insurance: 9M26 vs 9M25 € m Note: figures may not add up exactly due to rounding. Included in the single oversight unit Wealth Management Divisions 9M25 9M26 ∆% Net interest income 0 0 n.m. Net fee and commission income 3 3 0.0 Income from insurance business 1,368 1,451 6.1 Profits on financial assets and liabilities at fair value 0 0 n.m. Other operating income (expenses) (10) (7) (30.0) Operating income 1,361 1,447 6.3 Personnel expenses (107) (109) 1.9 Other administrative expenses (129) (133) 3.1 Adjustments to property, equipment and intangible assets (27) (28) 3.7 Operating costs (263) (270) 2.7 Operating margin 1,098 1,177 7.2 Net adjustments to loans 0 0 n.m. Net provisions and net impairment losses on other assets (1) (38) n.m. Other income (expenses) 0 2 n.m. Income (Loss) from discontinued operations 0 0 n.m. Gross income (loss) 1,097 1,141 4.0 Taxes on income (329) (308) (6.4) Charges (net of tax) for integration, transformation and exit incentives (14) (13) (7.1) Effect of purchase price allocation (net of tax) (4) (5) 25.0 Levies and other charges concerning the banking and insurance industry (net of tax) (24) 0 n.m. Impairment (net of tax) of goodwill and other intangible assets 0 0 n.m. Minority interests 0 0 n.m. Net income 726 815 12.3
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MIL-BVA362-03032014-90141/VR 94 Insurance: Q3 vs Q2 € m Note: figures may not add up exactly due to rounding. Included in the single oversight unit Wealth Management Divisions 2Q26 3Q26 ∆% Net interest income 0 0 15.6 Net fee and commission income 1 1 4.3 Income from insurance business 497 478 (3.9) Profits on financial assets and liabilities at fair value 0 0 (97.1) Other operating income (expenses) (2) (2) 13.3 Operating income 496 477 (4.0) Personnel expenses (35) (36) 1.4 Other administrative expenses (49) (48) (1.6) Adjustments to property, equipment and intangible assets (9) (10) 5.6 Operating costs (93) (93) 0.2 Operating margin 403 383 (4.9) Net adjustments to loans 0 0 n.m. Net provisions and net impairment losses on other assets (24) (11) (53.1) Other income (expenses) 2 (0) n.m. Income (Loss) from discontinued operations 0 0 n.m. Gross income (loss) 381 372 (2.3) Taxes on income (101) (81) (20.3) Charges (net of tax) for integration, transformation and exit incentives (5) (5) 13.2 Effect of purchase price allocation (net of tax) (2) (2) (0.6) Levies and other charges concerning the banking and insurance industry (net of tax) 0 0 n.m. Impairment (net of tax) of goodwill and other intangible assets 0 0 n.m. Minority interests (0) (0) (51.4) Net income 274 285 4.1
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MIL-BVA362-03032014-90141/VR 95 Market leadership in Italy Note: figures may not add up exactly due to rounding (*) Included in the single oversight unit Wealth Management Divisions (1) Excluding Corporate centre (2) Data as at 31.8.26 (3) Including bonds (4) Mutual funds; data as at 30.6.26 (5) Data as at 30.6.26 9M26 Operating income breakdown by business area (1) Leader in Italy Market share (2) Ranking 45% 12% 4% 13% 19% Banca dei Territori International Banks Asset Management(*) Private Banking(*) Insurance(*) IMI Corporate & Investment Banking 7% 17.1 20.6 20.8 21.3 24.3 Loans Deposits(3) Asset Management(4) Factoring(5) Pension Funds(5) 1 1 1 1 % 1
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MIL-BVA362-03032014-90141/VR 96 International Banks by country Note: figures may not add up exactly due to rounding (*) Consolidated on the basis of the countervalue of 30.6.26 figures at the exchange rate as at 30.9.26 (1) Net adjustments to loans/Net customer loans Hungary Slovakia Slovenia Croatia SerbiaBosnia Albania Romania Egypt Total CEE Total Ukraine(*)Moldova Data as at 30.9.26 % of the Group Operating income (€ m) 328 610 114 506 42 388 60 67 12 8 2,137 340 2,477 11.5% Operating costs (€ m) 126 201 45 188 24 119 29 56 10 8 806 89 895 11.4% Net adjustments to loans (€ m) (3) (0) 8 9 2 7 (1) (5) 1 1 17 (7) 10 1.6% Net income (€ m) 107 258 40 253 13 206 21 7 2 (2) 906 176 1,081 13.2% Customer deposits (€ bn) 8.2 23.4 3.9 14.9 1.4 7.8 2.0 2.1 0.2 0.3 64.2 3.8 68.0 11.0% Customer loans (€ bn) 5.4 21.3 3.0 11.2 1.2 6.6 0.8 1.7 0.2 0.0 51.4 1.7 53.0 12.2% Performing loans (€ bn) 5.4 21.1 3.0 11.0 1.2 6.5 0.8 1.7 0.2 0.0 50.9 1.7 52.5 12.2% of which: Retail local currency 46% 58% 37% 51% 28% 20% 32% 12% 68% n.m. 47% 45% 47% Retail foreign currency 0% 0% 0% 0% 12% 24% 8% 6% 0% n.m. 4% 0% 3% Corporate local currency 30% 34% 63% 49% 41% 18% 16% 60% 14% n.m. 37% 43% 38% Corporate foreign currency 24% 7% 0% 0% 19% 37% 44% 23% 18% n.m. 12% 12% 12% Non-performing loans (€ m) 41 205 21 139 4 56 3 20 2 0 491 4 495 12.0% Non-performing loans coverage 58% 50% 65% 51% 69% 62% 79% 66% 50% 100% 57% 91% 58% Annualised Cost of credit(1) (bps) n.m. n.m. 35 10 17 14 n.m. n.m. 40 n.m. 4 n.m. 3
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MIL-BVA362-03032014-90141/VR 97 € m Total exposure(1) by main countries DEBT SECURITIES Banking Business AC FVTOCI FVTPL(2) Total(3) EU Countries 70,721 65,097 10,670 146,488 396,367 Austria 748 1,224 34 2,006 602 Belgium 6,071 7,897 520 14,488 1,060 Bulgaria 0 31 5 36 8 Croatia 2,220 304 33 2,557 10,587 Cyprus 0 0 14 14 60 Czech Republic 108 364 74 546 1,356 Denmark 177 189 6 372 98 Estonia 0 0 0 0 2 Finland 303 589 18 910 112 France 8,976 15,347 1,256 25,579 8,347 Germany 1,370 2,559 97 4,026 12,636 Greece 82 76 400 558 1,837 Hungary 1,609 1,653 156 3,418 6,343 Ireland 2,780 1,825 504 5,109 910 Italy 28,589 16,233 5,935 50,757 311,823 Latvia 0 0 0 0 5 Lithuania 0 0 0 0 4 Luxembourg 1,022 2,333 257 3,612 7,746 Malta 0 0 2 2 240 The Netherlands 1,402 1,110 119 2,631 2,477 Poland 882 229 25 1,136 503 Portugal 747 634 179 1,560 74 Romania 43 676 -7 712 2,509 Slovakia 2,113 679 52 2,844 17,632 Slovenia 129 161 0 290 2,732 Spain 11,091 10,897 957 22,945 6,169 Sweden 259 87 34 380 495 Albania 25 686 0 711 779 Egypt 424 1,114 0 1,538 2,102 Japan 119 726 -21 824 428 Russia 5 0 0 5 668 Serbia 7 346 6 359 6,560 United Kingdom 971 1,377 257 2,605 17,682 U.S.A. 4,412 10,407 152 14,971 14,668 Other Countries 8,699 9,219 1,258 19,176 26,511 Total 85,383 88,972 12,322 186,677 465,765 LOANS Note: management accounts. Figures may not add up exactly due to rounding (1) Exposure to sovereign risks (central and local governments), banks and other customers. Book value of debt securities and net loans as at 30.9.26 (2) Taking into account cash short positions (3) The total of debt securities from Insurance business (excluding securities in which money is collected through insurance policies where the total risk is retained by the insured) amounts to €73,727m (of which €40,664m in Italy)
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MIL-BVA362-03032014-90141/VR 98 € m DEBT SECURITIES Banking Business AC FVTOCI FVTPL(2) Total(3) EU Countries 53,620 51,112 5,622 110,354 12,774 Austria 619 1,045 0 1,664 0 Belgium 5,002 6,864 223 12,089 0 Bulgaria 0 31 5 36 0 Croatia 1,993 289 33 2,315 1,015 Cyprus 0 0 0 0 0 Czech Republic 0 287 77 364 0 Denmark 0 0 0 0 0 Estonia 0 0 0 0 0 Finland 242 418 25 685 0 France 7,069 11,497 766 19,332 18 Germany 333 1,628 -69 1,892 15 Greece 0 13 192 205 0 Hungary 1,275 1,610 134 3,019 480 Ireland 383 48 0 431 0 Italy 22,221 13,388 3,749 39,358 9,532 Latvia 0 0 0 0 4 Lithuania 0 0 0 0 0 Luxembourg 324 950 1 1,275 0 Malta 0 0 0 0 0 The Netherlands 823 410 15 1,248 0 Poland 542 216 27 785 0 Portugal 496 513 67 1,076 55 Romania 43 676 -8 711 754 Slovakia 1,973 582 52 2,607 377 Slovenia 107 161 0 268 467 Spain 10,175 10,467 302 20,944 57 Sweden 0 19 31 50 0 Albania 25 686 0 711 0 Egypt 424 1,114 0 1,538 287 Japan 0 341 -54 287 0 Russia 0 0 0 0 0 Serbia 7 346 6 359 571 United Kingdom 0 947 14 961 0 U.S.A. 3,080 8,497 -270 11,307 0 Other Countries 5,239 5,807 274 11,320 4,852 Total 62,395 68,850 5,592 136,837 18,484 LOANS Exposure to sovereign risks(1) by main countries Note: management accounts. Figures may not add up exactly due to rounding (1) Exposure to central and local governments. Book value of debt securities and net loans as at 30.9.26 (2) Taking into account cash short positions (3) The total of debt securities from Insurance business (excluding securities in which money is collected through insurance policies where the total risk is retained by the insured) amounts to €47,734m (of which €37,628m in Italy). The total of FVTOCI reserves (net of tax and allocation to insurance products under management) amounts to -€2,605m (of which -€719m in Italy) Banking business government bond duration: 5.9y Adjusted duration due to hedging: 0.6y
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MIL-BVA362-03032014-90141/VR 99 Exposure to banks by main countries(1) Note: management accounts. Figures may not add up exactly due to rounding (1) Book value of debt securities and net loans as at 30.9.26 (2) Taking into account cash short positions (3) The total of debt securities from Insurance business (excluding securities in which money is collected through insurance policies where the total risk is retained by the insured) amounts to €14,127m (of which €1,374m in Italy) DEBT SECURITIES Banking Business AC FVTOCI FVTPL(2) Total(3) EU Countries 5,298 8,751 3,279 17,328 26,261 Austria 129 168 29 326 140 Belgium 980 1,011 294 2,285 212 Bulgaria 0 0 0 0 0 Croatia 0 0 0 0 107 Cyprus 0 0 14 14 0 Czech Republic 0 67 0 67 70 Denmark 95 116 6 217 1 Estonia 0 0 0 0 0 Finland 21 131 -7 145 0 France 1,057 2,320 280 3,657 4,909 Germany 335 466 120 921 3,843 Greece 77 63 200 340 1,767 Hungary 250 43 22 315 920 Ireland 42 0 1 43 576 Italy 1,497 2,148 1,522 5,167 10,822 Latvia 0 0 0 0 0 Lithuania 0 0 0 0 1 Luxembourg 94 1,341 151 1,586 59 Malta 0 0 2 2 179 The Netherlands 199 425 72 696 56 Poland 35 0 -2 33 1 Portugal 56 66 57 179 1 Romania 0 0 1 1 84 Slovakia 45 97 0 142 0 Slovenia 0 0 0 0 61 Spain 344 237 529 1,110 2,390 Sweden 42 52 -12 82 62 Albania 0 0 0 0 9 Egypt 0 0 0 0 123 Japan 45 259 5 309 38 Russia 0 0 0 0 43 Serbia 0 0 0 0 19 United Kingdom 190 133 164 487 3,560 U.S.A. 187 902 285 1,374 766 Other Countries 411 1,994 209 2,614 4,990 Total 6,131 12,039 3,942 22,112 35,809 LOANS € m
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MIL-BVA362-03032014-90141/VR 100 € m Exposure to other customers by main countries(1) Note: management accounts. Figures may not add up exactly due to rounding (1) Book value of debt securities and net loans as at 30.9.26 (2) Taking into account cash short positions (3) The total of debt securities from Insurance business (excluding securities in which money is collected through insurance policies where the total risk is retained by the insured) amounts to €11,866m (of which €1,662m in Italy) DEBT SECURITIES Banking Business AC FVTOCI FVTPL(2) Total(3) EU Countries 11,803 5,234 1,769 18,806 357,332 Austria 0 11 5 16 462 Belgium 89 22 3 114 848 Bulgaria 0 0 0 0 8 Croatia 227 15 0 242 9,465 Cyprus 0 0 0 0 60 Czech Republic 108 10 -3 115 1,286 Denmark 82 73 0 155 97 Estonia 0 0 0 0 2 Finland 40 40 0 80 112 France 850 1,530 210 2,590 3,420 Germany 702 465 46 1,213 8,778 Greece 5 0 8 13 70 Hungary 84 0 0 84 4,943 Ireland 2,355 1,777 503 4,635 334 Italy 4,871 697 664 6,232 291,469 Latvia 0 0 0 0 1 Lithuania 0 0 0 0 3 Luxembourg 604 42 105 751 7,687 Malta 0 0 0 0 61 The Netherlands 380 275 32 687 2,421 Poland 305 13 0 318 502 Portugal 195 55 55 305 18 Romania 0 0 0 0 1,671 Slovakia 95 0 0 95 17,255 Slovenia 22 0 0 22 2,204 Spain 572 193 126 891 3,722 Sweden 217 16 15 248 433 Albania 0 0 0 0 770 Egypt 0 0 0 0 1,692 Japan 74 126 28 228 390 Russia 5 0 0 5 625 Serbia 0 0 0 0 5,970 United Kingdom 781 297 79 1,157 14,122 U.S.A. 1,145 1,008 137 2,290 13,902 Other Countries 3,049 1,418 775 5,242 16,669 Total 16,857 8,083 2,788 27,728 411,472 LOANS
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MIL-BVA362-03032014-90141/VR 101 Disclaimer (1/2) “The manager responsible for preparing the company’s financial reports, Elisabetta Stegher, declares, pursuant to paragraph 2 of Article 154 bis of the Consolidated Law on Finance, that the accounting information contained in this presentation corresponds to the document results, books and accounting records”. * * * This presentation contains forward-looking statements, including forecasts, targets and estimates, that reflect the current views of Intesa Sanpaolo management regarding future events. Forecasts, targets, and estimates are typically identified by expressions such as “it is possible”, “should”, “it is anticipated”, “it is expected”, “it is estimated”, “it is believed”, “it is intended”, “it is planned”, “target” or by the negative use of these expressions or other variations of such expressions or by the use of comparable terminology. These forward-looking statements include, but are not limited to, all information other than facts, including, without limitation, information relating to Intesa Sanpaolo's future financial position and operating results, strategy, plans, objectives and future developments in the markets in which Intesa Sanpaolo operates or intends to operate. These forward-looking statements involve risks and uncertainties that could have a material impact on the expected results and are based on basic assumptions. As a result of such uncertainties and risks, readers are cautioned not to rely on such forward-looking information as a prediction of actual results. The ability of the Intesa Sanpaolo Group to achieve its projected results or objectives depends on many factors beyond the control of management. Actual results may differ materially from (and be more negative than) those projected or implied by the forward-looking statements. All forward-looking statements set out herein are based on information available to Intesa Sanpaolo as of the day hereof. Intesa Sanpaolo undertakes no obligation to publicly update or revise forward-looking statements as a result of the availability of new information, future events or otherwise, without prejudice to compliance with applicable laws. All subsequent forward-looking statements, written and oral, attributable to Intesa Sanpaolo or to persons acting on its behalf are expressly qualified, in their entirety, by these cautionary statements. * * * This presentation does not constitute and is not part of an offer to purchase, sell or exchange, or a solicitation of an offer to purchase, sell or exchange, any financial instruments. * * *
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MIL-BVA362-03032014-90141/VR 102 Disclaimer (2/2) The voluntary public tender and exchange offer referred to in this presentation is promoted by Intesa Sanpaolo S.p.A. on all the ordinary shares of Banca Monte dei Paschi di Siena S.p.A. (the “Offer”). Prior to the commencement of the Acceptance Period, as required under applicable regulations, Intesa Sanpaolo S.p.A. shall publish an offer document and an EU Follow-on prospectus, which the shareholders of Banca Monte dei Paschi di Siena S.p.A. shall carefully examine. The Offer is promoted exclusively in Italy as the shares of Banca Monte dei Paschi di Siena S.p.A. are listed on Euronext Milan, a regulated market organized and managed by Borsa Italiana S.p.A. and, without prejudice to the following, the Offer is subject to the obligations and procedural requirements provided for by Italian law. The Offer is not being directed or promoted in the United States (and will not be directed at U.S. Persons, as defined by the U.S. Securities Act of 1933, as amended, the “Securities Act”), Canada, Japan, Australia or any other country or jurisdiction where making the Offer would not be in compliance with the securities or other laws or regulations of such jurisdiction or would require any registration, approval or filing with any regulatory authority (such jurisdictions, including the United States, Canada, Japan and Australia, are referred to as the “Excluded Countries”). The Offer has not been and will not be made by using national or international instruments of communication or commerce of the Excluded Countries (including, without limitation, postal network, fax, telex, e-mail, telephone and internet), nor through any structure of any of the Excluded Countries’ financial intermediaries or in any other way. Partial or complete copies of any documents to be issued by Intesa Sanpaolo S.p.A. in connection with the Offer shall not be sent, nor shall they be transmitted, or otherwise distributed, directly or indirectly, in the Excluded Countries. Any person receiving such documents shall not distribute, send or dispatch them (whether by post, internet or by any other means or instrumentality of communication or commerce) in the Excluded Countries. Any acceptance of the Offer resulting from solicitation activities carried out in violation of the above limitations will not be accepted. This presentation, as well as any other document or information issued by Intesa Sanpaolo S.p.A. in connection with the Offer, does not constitute or form part of any offer to purchase, sell or exchange, or any solicitation of offers to purchase, sell or exchange, securities in any of the Excluded Countries. The Intesa Sanpaolo S.p.A. securities that will be issued in connection with the Offer may not be offered or sold in the United States of America unless they have been issued in a transaction registered under the Securities Act or in a transaction not subject to, or exempt from, the registration requirements of the Securities Act. The securities offered in the context of the Offer have not been, and will not be, registered under the Securities Act. No Intesa Sanpaolo S.p.A. security may be offered or transferred in the Excluded Countries without specific approval in compliance with the relevant provisions applicable in such Excluded Countries or without exemption from such provisions. Notwithstanding that the Offer has not been, and will not be, made in the United States of America, Intesa Sanpaolo S.p.A. reserves the right to extend the Offer to U.S. investors by way of a private placement memorandum delivered only to “qualified institutional buyers”, as defined in Rule 144A of the Securities Act, and in a manner not subject to the registration requirements of the U.S. federal securities laws. The U.S. private placement memorandum, if any, will not be used in connection with the Offer in Italy or in any of the Excluded Countries. Intesa Sanpaolo S.p.A. reserves the right to extend the Offer to Canada, Japan and Australia in accordance with applicable regulations. This document may only be accessed in or from the United Kingdom by (a)(i) persons having professional experience in matters relating to investments falling within the scope of Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as subsequently amended (the “Order”) or (ii) persons to whom the document can be legitimately transmitted because they fall within the scope of Article 49(2) paragraphs from (a) to (d) of the Order (among others, high net worth companies), in each case that are also (b) qualified investors as defined under paragraph 15 of schedule 1 of the Public Offer and Admissions to Trading Regulations 2024 (all these persons together being referred to as “Relevant Persons”). In the United Kingdom, this document is directed only at Relevant Persons, and any financial instrument or investment or investment activity (within the meaning of Section 21 of the Financial Services and Markets Act 2000) described in this document or in any other document issued by Intesa Sanpaolo S.p.A. in connection with the Offer is made available only to Relevant Persons (and any solicitation, offer, agreement to subscribe, purchase or otherwise acquire any such financial instruments or other investments or to engage in any such investment activity will be directed exclusively at such persons). Any person in the United Kingdom who is not a Relevant Person should not act or rely on this document or any of its contents. Tendering in the Offer by persons resident in countries other than Italy may be subject to specific obligations or restrictions provided for by laws or regulations. It is the sole responsibility of the addressees of the Offer to comply with such regulations and, therefore, before tendering in the Offer, to verify their existence and applicability by contacting their advisors. Intesa Sanpaolo S.p.A. shall not be held liable for any breach by any person of any of the foregoing limitations. .