Earnings release
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FINANCIAL RESULTS Contact Information: investor@banorte.com investors.banorte.com +52 (55) 1670 2256 3Q26 As of September 30th, 2026
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Third Quarter 2026 2 I. Executive Summary ....................................................................................................... 3 II. Management’s Discussion & Analysis ........................................................................... 8 Current Events ............................................................................................................. 19 Bank............................................................................................................................. 21 Long Term Savings ...................................................................................................... 29 Brokerage .................................................................................................................... 32 Other Subsidiaries ....................................................................................................... 33 III. Sustainability Performance .......................................................................................... 34 IV. General Information ..................................................................................................... 37 GFNORTE’s Analyst Coverage ................................................................................... 37 Capital Structure .......................................................................................................... 37 V. Financial Statements ................................................................................................... 38 Grupo Financiero Banorte ............................................................................................ 38 Banorte ........................................................................................................................ 44 Seguros Banorte .......................................................................................................... 50 Bineo............................................................................................................................ 53 Information by Segments ............................................................................................. 58 VI. Appendix ...................................................................................................................... 64 Accounting & Regulatory Changes .............................................................................. 64 Notes to Financial Statements ..................................................................................... 65 Internal Control ............................................................................................................ 74 Financial Situation and Liquidity .................................................................................. 75 Related Parties Loans.................................................................................................. 77 Loan or tax liabilities .................................................................................................... 78 People in Charge ......................................................................................................... 78 Board of Directors ........................................................................................................ 80 Compensation and Benefits ......................................................................................... 81 Basis for submitting and presenting Financial Statements........................................... 82 CNBV Indicators’ Methodology .................................................................................... 82 INDEX GFNORTEO GBOOY XNOR
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I. Executive Summary Third Quarter 2026 3 I. Executive Summary • GFNorte closed 9M26 with sustained earnings generation and profitability metrics. Compared to 9M25: Net Income +9%; Group ROE +235bps to 24.7%; Group ROTE +252bps to 30.2%; Bank ROE +286bps to 31.2%. • Bank NIM stood at 6.8% in 9M26, +22bps compared to the same period of the previous year, driven by loan growth and mix, as well as funding cost management. Group NIM expanded +4bps vs. 9M25 to 6.2%, reflecting an extended period of low inflation in the annuities business. • Stage 1 and 2 loans expanded +11.1% YoY, with favorable dynamics across all portfolios. Government +14%, Commercial +13% and Corporate +11%. Consumer +9%: auto +23%, payroll +11%, credit cards +10% and mortgages +6%. • Asset quality improved sequentially despite loan growth. NPL ratio stood at 1.4% in the quarter, declining (9bps) vs. 2Q26 and increasing 4bps YoY. The 12-month cost of risk stood at 1.9%. • Banorte maintains solid capitalization and liquidity; CAR at 22.54%, CET1 at 13.20%, average LCR of 149.50% and average NSFR of 130.70% in the third quarter. Liquidity sources amounted to Ps 209.10 billion, and 97.7% of liquid assets were Level 1, in accordance with current regulations. The information presented in this report reflects the retroactive deconsolidation of Bineo and Tarjetas del Futuro in accordance with regulatory accounting requirements, as well as the subsequent integration of Tarjetas del Futuro's loan portfolio into Banorte from mid -December 2025. As a result, the 2025 figures presented in this report are not comparable with those presented for the respective periods.
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I. Executive Summary Third Quarter 2026 4 GFNorte reports Net Income of Ps 15.66 billion in the third quarter of 2026, 20% higher than the same period of 2025 (BMV: GFNORTEO; OTCQX: GBOOY; Latibex: XNOR) Grupo Financiero Banorte, S.A.B. de C.V. reported results for the period ended September 30, 2026. During the third quarter of the year, GFNorte delivered solid performance, supported by the structural strength of its balance sheet, the diversification of its business lines and disciplined expense management. The loan portfolio maintained positive momentum, driven by the recovery and growth across the different portfolios, while preserving sound asset quality levels. Balance sheet positioning supported net interest income growth, driven by funding cost optimization and loan mix. In the third quarter, GFNorte reported net income of Ps 15.66 billion, 20% higher than 3Q25 and 1% above the previous quarter, with the following key results and indicators: • Net interest income (NII) grew 1% QoQ and 5% YoY, driven by loan portfolio mix and growth, together with funding cost management. In the year-over-year comparison, active balance sheet management shielded net interest income from the pressures of the lower interest rate cycle. Group NIM stood at 6.0% in 3Q26, declining (9bps) vs. the previous quarter and (23bps) YoY, reflecting the impact of lower inflation on the valuation of inflation-linked securities in the annuities business. Meanwhile, Bank NIM declined (20bps) sequentially and (15bps) vs. 3Q25, explained by the acceleration of wholesale lending and its effect on average earning assets. • Provisions increased 26% vs. 2Q26 and 4% vs. 3Q25, mainly aligned with loan growth and mix evolution, focusing on consumer products. Quarterly variation was also affected by the lower comparative base, which includes releases associated with loans expressly guaranteed by the federal government and improvements in risk parameters across different portfolios. As a result, cost of risk stood at 2.3% in the quarter, increasing +41bps vs. 2Q26 and improving (13bps) vs. 3Q25. • Non-interest income expanded 8% sequentially and 45% YoY, driven by better technical results in the insurance and annuities businesses and lower other operating expenses. The year -over-year comparison also benefited from growth in net fees, mainly reflecting higher transaction volumes in consumer products and the focus on profitability in affiliated businesses. • Non-interest expense remained stable sequentially and increased 11% vs. 3Q25, reflecting the business's inertial and transactional growth, as well as organic expansion in commercial areas and infrastructure, along with investments in technology. Efficiency ratio stood at 35.5% in the quarter. • ROE stood at 24.5% in 3Q26, declining (118bps) sequentially, mainly due to higher provisions and a larger capital base compared to the previous quarter, associated with dividend distributions in that period. Compared to 3Q25, it increased 443bps, supported by the strength of the financial margin, income diversification and the lower comparative base, given the recognition of Bineo's deconsolidation and the initial reserves for the impaired commercial loan in 3Q25. Group ROTE reached 29.7% in the quarter, 511bps higher vs. 3Q25. Bank ROE stood at 31.1%, 415bps above 3Q25. • With accumulated figures, net interest income expanded 7% vs. 9M25; NIM stood at 6.2%, 4bps higher than the same period of the previous year, in line with funding cost management, loan volume growth and origination mix. Non- interest income expanded 33% vs. 9M25, mainly associated with the evolution of banking service fees, as well as the recognition of the sale of our stake in Buró de Crédito at the beginning of the year. Meanwhile, expenses grew 10%. Net income totaled Ps 46.67 billion, 9% higher than 9M25. • Subsidiaries contributed positively to the Group's performance and strength, demonstrating income diversification. Compared to 9M25, Bank’s Net Income grew 7%, Annuities 31%, and Afore 11%. • Stage 1 and 2 loans grew 5% in the quarter, with expansion across all portfolios. In wholesale lending, government increased 9%, while commercial and corporate grew 5% and 7%, respectively. Consumer lending maintained solid growth, supported by hyperpersonalized offers, commercial partnerships, customer engagement campaigns and process improvements: auto expanded 5%, credit cards and mortgages 2%, and payroll 1%. Compared to 3Q25, stage 1 and 2 loans increased +11%, with double -digit growth across most portfolios. Wholesale banking showed a recovery, with government lending growing 14%, driven by greater utilization of financing lines; commercial and corporate loans increased 13% and 11%, respectively, mainly associated with activity recovery in strategic economic sectors. Consumer lending maintained good momentum: auto expanded 23%, payroll 11%, credit cards 10% and mortgages 6%.
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I. Executive Summary Third Quarter 2026 5 • NPL ratio stood at 1.4%, declining (9bps) sequentially, displaying sound asset quality. Compared to 3Q25, it increased 4bps, reflecting changes in the mortgage portfolio's write -off policy and still incorporating the commercial loan that became impaired in the same period of last year. • Core deposits grew 4% in the quarter and 13% vs. 3Q25. Year-over-year expansion was driven by 15% growth in demand deposits and 8% in time deposits. Despite stronger growth in rate -sensitive deposits, funding mix remained stable at 70% demand deposits and 30% time. • Capital strength and liquidity remain key pillars for the Group. Banorte's Capital Adequacy Ratio stood at 22.54%, with Core Equity Tier 1 level of 13.20%, well above current regulatory requirements, including compliance with Total Loss-Absorbing Capacity supplement (TLAC), the implementation of which started gradually in December 2022 and was fully reached in December 2025. In addition, the quarterly averag e Liquidity Coverage Ratio and Net Stable Funding Ratio were 149.50% and 130.70%, respectively. As a result of the decision regarding the sale of Bineo, which remains ongoing, as well as the liquidation process of Tarjetas del Futuro, following the transfer of its loan portfolio to Banorte, Grupo Financiero Banorte has recognized the deconsolidation of such entities as “Discontinued Operations” in the Income Statement. Likewise, and in compliance with the disclosure requirements set forth by accounting standard NIF ‑B11, the operations of Bineo and TDF were deconsolidated from GFNorte’s Financial Statements for the first months of the 2025 fiscal year. As a result, the 2025 figures presented in this report are not comparable to those reported in the respective periods. GFNorte-Consolidated Statement of Comprehensive Income Highlights Change (Million Pesos) 2Q26 3Q25 9M25 Interest Income 97,168 90,196 89,682 (1%) (8%) 311,461 268,450 (14%) Interest Expense 60,924 52,581 51,555 (2%) (15%) 204,018 153,231 (25%) Net Interest Income 36,244 37,614 38,127 1% 5% 107,443 115,219 7% Net Service Fees 4,988 5,801 5,665 (2%) 14% 14,720 16,995 15% Premium Income Ins. & Annu. (Net) 14,019 17,607 17,736 1% 27% 49,792 57,422 15% Technical Reserves Ins. & Annu. 7,332 8,971 8,382 (7%) 14% 29,630 32,927 11% Cost of Acquisition from Insurance Operations 263 226 277 22% 5% 1,431 1,564 9% Net Cost of Claims and Other Obligations 9,000 10,468 9,940 (5%) 10% 26,223 29,250 12% Trading Income 2,437 2,769 1,522 (45%) (38%) 7,003 6,047 (14%) Other Operating Income (Expenses) (741) (979) (360) (63%) (51%) (2,554) (1,225) (52%) Non Interest Income 4,108 5,533 5,965 8% 45% 11,677 15,497 33% Total Income 40,352 43,147 44,092 2% 9% 119,120 130,716 10% Non Interest Expense 14,140 15,603 15,660 0% 11% 41,798 46,122 10% Provisions 7,357 6,079 7,674 26% 4% 17,260 20,668 20% Operating Income 18,855 21,465 20,758 (3%) 10% 60,061 63,926 6% Taxes 4,544 6,044 5,152 (15%) 13% 15,665 17,407 11% Subsidiaries' Net Income 456 584 421 (28%) (8%) 1,254 1,365 9% Minority Interest 210 230 225 (2%) 7% 639 670 5% Discontinued operations (1,549) (225) (143) 36% 91% (2,097) (547) 74% Net Income 13,008 15,550 15,658 1% 20% 42,914 46,667 9% Other Comprehensive Income 615 1,220 (2,755) (326%) (548%) 5,069 (2,770) (155%) Comprehensive Income 13,834 17,000 13,128 (23%) (5%) 48,622 44,567 (8%) 3Q25 2Q26 3Q26 Change 9M269M25
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I. Executive Summary Third Quarter 2026 6 GFNorte-Consolidated Statement of Financial Position Highlights (Million Pesos) 2Q26 3Q25 Asset Under Management 5,068,957 5,522,386 5,624,206 2% 11% Stage 1 Loans 1,189,456 1,260,336 1,320,846 5% 11% Stage 2 Loans 10,407 12,857 12,486 (3%) 20% Stage 1 & 2 Loans (a) 1,199,863 1,273,193 1,333,332 5% 11% Stage 3 Loans (b) 16,754 19,497 19,114 (2%) 14% Deferred Items ( c) 3,714 5,322 5,326 0% 43% Loan Portfolio from Insur. Subs.(d) 4,113 4,481 4,662 4% 13% Total Loans (a+b+c+d) 1,224,444 1,302,493 1,362,434 5% 11% Preventive Loan Loss Reserves 24,156 26,173 27,116 4% 12% Total Loans Net 1,200,288 1,276,320 1,335,318 5% 11% Total Assets 2,509,263 2,669,627 2,793,578 5% 11% Total Deposits 1,161,756 1,251,585 1,309,241 5% 13% Total Liabilities 2,248,320 2,418,832 2,530,970 5% 13% Equity 260,944 250,795 262,608 5% 1% 3Q25 2Q26 3Q26 Change Profitability: NIM (1) 6.3% 6.1% 6.0% 6.2% 6.2% 6.3% NIM adjusted w/o Insurance & Annuities 6.4% 6.5% 6.3% 6.1% 6.3% ROE (2) 20.1% 25.7% 24.5% 22.3% 24.7% 24.6% ROA (3) 2.1% 2.3% 2.3% 2.3% 2.3% 2.4% Operation: Efficiency Ratio - Cost to Income (4) 35.0% 36.2% 35.5% 35.1% 35.3% 35.9% Operating Efficiency Ratio - Cost to Assets (5) 2.2% 2.3% 2.3% 2.2% 2.3% 2.3% Average LCR Banorte and SOFOM - Basel III (6) 159.9% 154.5% 149.5% 175.8% 165.2% Asset Quality: Non-Performing Loan Ratio 1.4% 1.5% 1.4% 1.4% 1.4% 1.4% Coverage Ratio 144.2% 134.2% 141.9% 144.2% 141.9% 141.9% Cost of Risk (7) 2.4% 1.9% 2.3% 1.9% 2.1% 1.9% Market References Banxico Reference Rate 7.50% 6.50% 6.50% 7.50% 6.50% TIIE 28 days (Average) 8.12% 6.86% 6.76% 9.05% 6.97% Exchange Rate Peso/Dollar 18.33 17.47 18.07 9M25 9M262Q26 3Q26 12M*Financial Ratios GFNorte 3Q25 1. NIM= Annualized Net Interest Income of the period / average Earning Assets of the period. 2. ROE= Annualized Net Income of the period / average Majority Equity of the period. 3. ROA= Annualized Net Income of the period / average Total Assets of the period. 4. Cost to Income Ratio= Non-Interest Expense of the period / Total Income of the period. 5. Cost to Assets= Annualized Non-Interest Expenses of the period / average Total Assets of the period. 6. Preliminary LCR calculation. To be updated upon publication of Banco de Mexico’s official calculations. 7. Cost of Risk= Annualized Provisions of the period / average Total Loans of the period. *12-month ratios, according to the new calculation methodology of the CNBV (National Banking and Securities’ Commission). For more detail on Liquidity Coverage Ratio (LCR) See Page. 30 to 33 of the Risk Management Report
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I. Executive Summary Third Quarter 2026 7 Subsidiaries Net Income Change (Million Pesos) 2Q26 3Q25 9M25 Banco Mercantil del Norte 11,248 12,391 12,313 (1%) 9% 34,041 36,408 7% Casa de Bolsa Banorte 118 199 125 (37%) 6% 830 536 (35%) Operadora de Fondos Banorte 154 168 186 11% 21% 442 508 15% Afore XXI Banorte 394 515 357 (31%) (9%) 1,065 1,185 11% Seguros Banorte 1,419 1,196 1,214 2% (14%) 5,276 4,498 (15%) Pensiones Banorte 781 735 1,262 72% 62% 2,076 2,726 31% BAP (Holding) 0 5 (0) (102%) (184%) 1 5 476% Leasing, Factoring and Warehousing 347 344 257 (25%) (26%) 702 776 11% G. F. Banorte (Holding) (1,453) (3) (56) N.A. 96% (1,519) 25 102% Total Net Income 13,008 15,550 15,658 1% 20% 42,914 46,667 9% 3Q25 2Q26 3Q26 Change 9M25 9M26 Change 2Q26 3Q25 9M25 Earnings per share (Pesos) (1) 4.624 5.528 5.566 1% 20% 15.255 16.589 9% Earnings per share Basic (Pesos) (2) 4.586 5.522 5.554 1% 21% 15.130 16.558 9% Dividend per Share for the period (Pesos) 0.00 10.45 0.00 N.A. N.A. 9.99 10.45 5% Payout for the period 0.0% 50.0% 0.0% N.A. N.A. 50.0% 50.0% 0 pp Book Value per Share (Pesos) 93.42 87.99 92.17 5% (1%) 93.42 92.17 (1%) Outstanding Shares - (Million) (3) 2,813.2 2,813.2 2,813.2 0% 0% 2,813.2 2,813.2 0% Accounting Outstanding Shares (Million) (4) 2,778.6 2,774.7 2,779.8 0% 0% 2,778.6 2,779.8 0% Stock Price (Pesos) 184.48 184.57 190.20 3% 3% 184.48 190.20 3% P/BV (Times) 1.97 2.10 2.06 (2%) 5% 1.97 2.06 5% Market Capitalization (Million Dollars) 28,306 29,722 29,612 (0%) 5% 28,306 29,612 5% Market Capitalization (Million Pesos) 518,971 519,224 535,062 3% 3% 518,971 535,062 3% Share Data 3Q25 2Q26 3Q26 Change 9M25 9M26 1. Earnings per Share= Net Income of the period / outstanding shares in the National Securities Registry (RNV). 2. Earnings per Share Basic= Net Income of the period / weighted average of accounting outstanding shares. 3. Outstanding Shares= Outstanding shares registered in the National Securities Registry (RNV). 4. Accounting Outstanding Shares= Outstanding shares registered – shares held in the Treasury– shares held in the Trust related to the stock-based compensation plan for employees. Share performance
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II. Management’s Discussion & Analysis Third Quarter 2026 8 II. Management’s Discussion & Analysis Figures included in this report correspond to Grupo Financiero Banorte, unless a specific subsidiary is mentioned as the source of the presented financial results. For comparison purposes, it is important to consider that GFNorte holds 98.2618% of the Bank; therefore, in some cases, some figures may vary as they refer to the Group or the Bank. Figures presented in this report are expressed in million pesos; therefore, arithmetic variations may differ due to rounding effects. Net Interest Income Net Interest Income (NII) Change (Million Pesos) 2Q26 3Q25 9M25 Interest Income 97,168 90,196 89,682 (1%) (8%) 311,461 268,450 (14%) Interest Expense 60,924 52,581 51,555 (2%) (15%) 204,018 153,231 (25%) GFNORTE´s NII 36,244 37,614 38,127 1% 5% 107,443 115,219 7% Credit Provisions 7,357 6,079 7,674 26% 4% 17,260 20,668 20% NII Adjusted for Credit Risk 28,887 31,536 30,454 (3%) 5% 90,183 94,551 5% Average Earning Assets 2,314,246 2,458,336 2,527,368 3% 9% 2,314,750 2,467,093 7% Net Interest Margin (1) 6.3% 6.1% 6.0% 6.2% 6.2% 6.3% Risk-Adjusted NIM (2) 5.0% 5.1% 4.8% 5.2% 5.1% 5.3% NIM w/o Insurance & Annuities 6.4% 6.5% 6.3% 6.1% 6.3% NIM from loan portfolio (3) 8.9% 8.9% 8.7% 8.6% 8.8% 8.8% 3Q262Q263Q25 9M25 9M26 Change 12M* 1. NIM= Annualized Net Interest Income of the period / average Earning Assets of the period. 2. Risk-Adjusted NIM = Annualized Net Interest Income of the period adjusted for Credit Risks / average Earning Assets of the period. 3. NIM from Loan Portfolio= Annualized Net Interest Income from the credit portfolio of the period / average Stage 1 and 2 Loans. *12-month ratios, according to the new calculation methodology of the CNBV (National Banking and Securities’ Commission). Net interest income rose 1% in the quarter and 7% in 9M26, driven by origination volume and loan mix, as well as consistent funding cost management. Compared to 9M25, growth reflected effective balance sheet management, which mitigated the volatility associated with the interest r ate easing cycle. Over the last 12 months, the reference rate accumulated a (100bps) decline. This partially offset the impact of lower inflation on the valuation of inflation -linked securities in the annuities business. NIM stood at 6.0% in 3Q26, declining (9bps) QoQ, mainly due to larger average earning assets, in line with loan growth. Loan portfolio NIM reached 8.7% in the quarter, declining (19bps) sequentially due to the acceleration of wholesale lending. On a cumulative basis, NIM stood at 6.2% in 9M26, 4bps above 9M25. Loan portfolio NIM reached 8.8%, up 12bps vs 9M25, in line with portfolio growth during the period. For more detail on Margin Sensitivity (Bank): 1) Refer to page 37 of the Risk Management Report
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II. Management’s Discussion & Analysis Third Quarter 2026 9 Loan Loss Provisions Credit Provisions Change (Million Pesos) 2Q26 3Q25 9M25 Commercial, Corporate & Government 2,372 252 999 297% (58%) 3,528 2,408 (32%) Consumer 5,317 5,972 6,798 14% 28% 14,604 18,593 27% Charge offs, discounts and others (332) (145) (123) 16% 63% (871) (333) 62% Total Credit Provisions 7,357 6,079 7,674 26% 4% 17,260 20,668 20% 9M269M25 Change 2Q26 3Q263Q25 Total loan loss provisions increased 26% in the quarter and 20% vs. 9M25, mainly as a result of i) higher loan origination across all portfolio segments, along with a mix increasingly focused on consumer products; ii) the recalibration of certain internal risk models during the year; and iii) additional provisioning for impaired commercial loan in 3Q25. The sequential increase was also influenced by the lower comparative base, which includes releases associated with loans expressly guaranteed by the Federal Government and improvements in risk parameters across different portfolios. Out of the Ps 7.67 billion in provisions recorded in the quarter, 33% correspond to changes in loan portfolio balances and the remainder to changes in risk. As a result, cost of risk stood at 2.3% at the end of 3Q26 and 2.1% in 9M26, increasing 41bps in the quarter and 21bps vs. 9M25. Non-Interest Income Non-Interest Income Change (Million Pesos) 2Q26 3Q25 9M25 Net Service Fees 4,988 5,801 5,665 (2%) 14% 14,720 16,995 15% Premium Income Ins. & Annu. (Net) 14,019 17,607 17,736 1% 27% 49,792 57,422 15% Technical Reserves Ins. & Annu. 7,332 8,971 8,382 (7%) 14% 29,630 32,927 11% Cost of Acquisition from Insurance Operations 263 226 277 22% 5% 1,431 1,564 9% Net Cost of Claims and Other Obligations (1) 9,000 10,468 9,940 (5%) 10% 26,223 29,250 12% Trading 2,437 2,769 1,522 (45%) (38%) 7,003 6,047 (14%) Other Operating Income (Expenses) (1) (741) (979) (360) (63%) (51%) (2,554) (1,225) (52%) Non-Interest Income 4,108 5,533 5,965 8% 45% 11,677 15,497 33% 9M269M253Q25 2Q26 3Q26 Change 1.During 4Q25, an accounting reclassification of insurance provisions was made from other operating income (expenses) to cost of claims, due to the change in VAT accreditation. Non-interest income grew 8% or Ps 433 million in the quarter, mainly driven by better technical results in the insurance and annuities businesses, as well as lower other operating expenses. In 9M26, non -interest income rose 33% given 15% higher net fees, driven by a more efficient cost structure and a solid base of banking service fees. Furthermore, the improvement in other expenses considers the sale of our stake in Buró de Crédito during the first quarter. Premium income from insurance and annuities remained stable sequentially given the combined effect of higher annuities income from increased business generation, offsetting the normalization of insurance premiums issuance in the quarter. Technical reserves declined (7%), comprising a reduction of (Ps 2 .70 billion) in insurance, aligned with lower premium issuance during the quarter, and an increase of Ps 2 .11 billion in annuities, in line with business growth. Acquisition costs increased 22%, associated with portfolio origination and mix. Claims fell (5%) sequentially, mainly due to better performance in the life and medical expense lines. As of 9M26 , premium income from insurance and annuities expanded 15%, driven by growth in both portfolios. Accordingly, technical reserves were up 11% and claims 12%, mainly associated with the sale of flexible products and higher claims in the auto line. For more detail on Internal Credit Risk Models: 1) Pages 17 to 25 of the Risk Management Report
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II. Management’s Discussion & Analysis Third Quarter 2026 10 Service Fees Service Fees Change (Million Pesos) 2Q26 3Q25 9M25 Fund Transfers 705 669 670 0% (5%) 2,105 1,983 (6%) Account Management 525 599 600 0% 14% 1,536 1,760 15% Electronic Banking Services 4,493 4,070 4,083 0% (9%) 15,056 12,272 (18%) Basic Banking Services Fees 5,723 5,339 5,354 0% (6%) 18,698 16,015 (14%) For Commercial and Government Loans 424 706 444 (37%) 5% 1,277 1,694 33% For Consumer Loans 2,529 2,965 3,032 2% 20% 7,175 8,853 23% Fiduciary & Mortgage Appraisals 133 128 129 1% (3%) 378 373 (1%) Mutual Funds 931 982 1,001 2% 8% 2,648 2,932 11% Trading & Financial Advisory 212 209 196 (6%) (8%) 575 629 9% Other Fees Charged (1) (64) (181) (2) 99% 96% (121) (160) (32%) Fees Charged on Services 9,888 10,148 10,153 0% 3% 30,630 30,336 (1%) Interchange Fees 2,925 2,333 2,258 (3%) (23%) 10,439 7,046 (33%) Other Fees Paid 1,975 2,014 2,230 11% 13% 5,472 6,296 15% Fees Paid on Services 4,900 4,348 4,488 3% (8%) 15,910 13,342 (16%) Net Service Fees 4,988 5,801 5,665 (2%) 14% 14,720 16,995 15% 9M269M253Q25 2Q26 3Q26 Change 1.Includes fees from transactions with annuities funds, warehousing services, financial advisory services, and securities trading, among others. Fees charged on services remained stable sequentially and declined (1%) in cumulative comparison . Quarterly performance was mainly affected by lower wholesale loan fees, following the high level of structuring activity observed in the previous quarter. This mitigated the positive effect of credit card transaction activity and origination. Compared to 9M25, the result reflects the strategy of prioritizing efficiency and profitability in digital affiliated businesses, partially offset by growth in consumer product transactions. Fees paid rose 3% QoQ, mainly associated with the sales force's commercial activity in mortgage and auto loan origination, as well as greater activity in securities and financing transactions. In 9M26, they fell (16%), reflecting the aforementioned effort to prioritize efficiency and profitability in digital affiliated businesses. As a result, net service fees dropped (2%) sequentially and were 15% higher vs. 9M25. Trading Trading Income Change (Million Pesos) 2Q26 3Q25 9M25 Currency and Metals (1,832) (142) (61) 57% 97% (10,294) (537) 95% Derivatives 9 (242) 213 188% N.A. 8,113 430 (95%) Securities 699 1,377 257 (81%) (63%) 3,073 2,201 (28%) Valuation (1,124) 993 409 (59%) 136% 892 2,094 135% Currency and Metals 2,198 681 706 4% (68%) 4,298 2,117 (51%) Derivatives 305 (15) 238 N.A. (22%) 198 161 (19%) Securities 1,051 958 167 (83%) (84%) 1,915 1,537 (20%) Trading 3,554 1,623 1,111 (32%) (69%) 6,412 3,815 (41%) Other financial results 8 153 2 (99%) (74%) (301) 138 146% Trading Income 2,437 2,769 1,522 (45%) (38%) 7,003 6,047 (14%) 9M269M252Q26 3Q26 Change 3Q25 Trading income declined (45%) in the quarter, mainly reflecting the impact of market interest rate movements on the value of financial instruments. This was partially offset by better performance in interest rate hedging positions. In 9M26, it declined (14%), as a result of lower revenue from foreign exchange activity and the maturity of transactions, partially offset by favorable valuation performance.
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II. Management’s Discussion & Analysis Third Quarter 2026 11 Other Operating Income (Expenses) Other Operating Income (Expenses) Change (Million Pesos) 2Q26 3Q25 9M25 Contributions to IPAB (1,260) (1,343) (1,382) 3% 10% (3,810) (4,054) 6% Expenses Incurred in the Recovery of Credit Portfolio (397) (425) (447) 5% 12% (1,185) (1,273) 7% Result for Foreclosed Assets 105 (167) 121 173% 16% 377 55 (85%) Lease Income 113 160 155 (3%) 37% 332 476 43% From Insurance & Annuities (1) 119 396 309 (22%) 160% 284 930 228% Others 580 400 885 121% 52% 1,449 2,641 82% Other Operating Income (Expenses) (741) (979) (360) (63%) (51%) (2,554) (1,225) (52%) 3Q25 2Q26 3Q26 Change 9M269M25 1.During 4Q25, an accounting reclassification of insurance provisions was made from other operating income (expenses) to cost of claims, d ue to the change in VAT accreditation. Other operating expenses declined (63%) in the quarter, mainly driven by a favorable result from foreclosed assets and revenue associated with liability write-offs. On a cumulative basis, they declined (52%), mainly due to the Buró de Crédito sale gain, higher results in insurance and annuities from the 4Q25 accounting reclassification of insurance VAT creditability, and liability write-offs. Non-Interest Expense Non-Interest Expense Change (Million Pesos) 2Q26 3Q25 9M25 Personnel 6,475 7,113 7,121 0% 10% 19,155 21,113 10% Professional Fees 1,161 1,409 1,267 (10%) 9% 3,368 3,776 12% Administrative and Promotional 1,828 1,653 1,795 9% (2%) 4,947 5,111 3% Rents, Depreciation & Amortization 3,405 3,664 3,626 (1%) 6% 9,909 10,615 7% Various Taxes 706 809 883 9% 25% 2,264 2,591 14% Employee Profit Sharing (PTU) 330 505 506 0% 53% 1,090 1,515 39% Other expenses 234 449 463 3% 97% 1,066 1,401 31% Non-Interest Expense 14,140 15,603 15,660 0% 11% 41,798 46,122 10% 9M269M25 Change 3Q25 2Q26 3Q26 Non-interest expense remained stable in the quarter despite higher business activity and volume. In 9M26 it grew 10%, mainly related to i) personnel administrative expenses; ii) inertial and transactional business growth; iii) organic expansion in commercial areas and infrastructure; and iv) investments in technology. Excluding the effect of the deconsolidation of Bineo and Tarjetas del Futuro from the base, expense growth was 8.5% vs. 9M25. Efficiency ratio stood at 35.5% in 3Q26 and 35.3% in 9M26, declining (65bps) vs. the previous quarter and 19bps higher vs. 9M25, respectively.
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II. Management’s Discussion & Analysis Third Quarter 2026 12 Net Income Net Income Change (Million Pesos) 2Q26 3Q25 9M25 Operating Income 18,855 21,465 20,758 (3%) 10% 60,061 63,926 6% Subsidiaries' Net Income 456 584 421 (28%) (8%) 1,254 1,365 9% Pre-Tax Income 19,311 22,049 21,179 (4%) 10% 61,315 65,290 6% Taxes 4,544 6,044 5,152 (15%) 13% 15,665 17,407 11% Discontinued Operations (1,549) (225) (143) 36% 91% (2,097) (547) 74% Net income from continuing operations 13,219 15,780 15,883 1% 20% 43,553 47,337 9% Minority Interest 210 230 225 (2%) 7% 639 670 5% Net Income 13,008 15,550 15,658 1% 20% 42,914 46,667 9% Financial Instruments to Collect and Sell Valuation 604 914 (1,800) (297%) (398%) 3,403 (1,967) (158%) Result from valuation of instruments for cash flow hedging 163 463 (1,057) (328%) (749%) 2,272 (909) (140%) Other Hedging Financial Instruments Valuation - - - N.A. N.A. - - N.A. Income and Expenses related to Assets Held for Disposal - - - N.A. N.A. - - N.A. Defined remeasurements for employee benefits 35 49 49 0% 43% 104 148 42% Cumulative Translation Adjustment (70) (71) (78) (10%) (12%) (392) (160) 59% Result from valuation of reserve for unexpired risks variations in rates (116) (135) 130 196% 211% (319) 119 137% Other Comprehensive Income 615 1,220 (2,755) (326%) (548%) 5,069 (2,770) (155%) Comprehensive Income 13,834 17,000 13,128 (23%) (5%) 48,622 44,567 (8%) 9M269M253Q25 2Q26 3Q26 Change Net income closed the quarter at Ps 15 .66 billion, increasing 1% sequentially, given a resilient net interest income, expansion in lending activity and better technical results driven by higher premiums in the annuities business, which offset higher provisions. In 9M26, net income increased 9% vs. 9M25, supported by funding cost management, acceleration in loan origination volumes and mix optimization, as well as a higher contribution from service fee income and the benefit from the sale of our stake in Buró de Crédito at the beginning of the year. Effective tax rate stood at 24.8% in the quarter. Earnings per share for the quarter were Ps 5.57. Profitability 3Q25 2Q26 3Q26 9M25 9M26 12M* ROE 20.1% 25.7% 24.5% 22.3% 24.7% 24.6% Intangibles 11,913 10,755 10,127 11,913 10,127 Goodwill 27,644 27,483 27,521 27,644 27,521 Average Tangible Equity 211,646 197,156 210,901 211,646 210,901 ROTE 24.6% 31.5% 29.7% 27.6% 30.2% 30.0% Figures in million pesos. *12-month ratios, according to the new calculation methodology of the CNBV (National Banking and Securities’ Commission). ROE stood at 24.5% in the quarter, (118bps) lower sequentially mainly due to higher provisions and a larger capital base compared to the previous quarter, associated with dividend distributions in that period. On a cumulative basis, the ratio stood at 24.7%, expanding 235bps, supported by the strength of the financial margin, income diversification and the lower comparative base, given the recognition of Bineo's deconsolidation and the initial reserves for the impaired commercial loan in 3Q25. In 9M26, ROTE increased 252bps YoY, standing at 30.2%.
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II. Management’s Discussion & Analysis Third Quarter 2026 13 3Q25 2Q26 3Q26 9M25 9M26 12M* ROA 2.1% 2.3% 2.3% 2.3% 2.3% 2.4% Average Risk Weighted Assets (billion pesos) 1,022 1,078 1,097 1,022 1,097 RRWA 5.5% 5.6% 5.7% 5.5% 5.7% *12-month ratios, according to the new calculation methodology of the CNBV (National Banking and Securities’ Commission). ROA stood at 2.3% in 3Q26, remaining stable and reflecting efficient management of the Group's assets. Deposits Deposits (Million Pesos) 2Q26 3Q25 Non-Interest Bearing Demand Deposits 449,913 499,447 503,789 1% 12% Interest Bearing Demand Deposits 304,426 327,194 362,343 11% 19% Global Account of deposits without movements 4,440 4,719 4,816 2% 8% Total Demand Deposits 758,778 831,360 870,948 5% 15% Time Deposits – Retail 345,369 367,708 373,684 2% 8% Core Deposits 1,104,148 1,199,068 1,244,632 4% 13% Money Market and Credit Notes Issued 68,978 56,615 77,477 37% 12% Total Bank Deposits 1,173,126 1,255,682 1,322,109 5% 13% GFNorte’s Total Deposits 1,161,756 1,251,585 1,309,241 5% 13% Third Party Deposits 256,328 267,086 260,102 (3%) 1% Total Assets Under Management 1,429,455 1,522,768 1,582,211 4% 11% 3Q25 2Q26 3Q26 Change Core deposits grew 4% vs. 2Q26, driven by deeper engagement with the existing customer base and higher average balances per customer. Growth was driven by higher transaction activity in the payroll business, greater use of the Bank's products and services, and efforts to attract and retain balances. Compared to 3Q25 deposits went up 13%, supported by an expansion of 15% in demand deposits and 8% in time deposits, reflecting the Bank's ability to consolidate long- term relationships with high -value customers through a comprehensive offering that combines digital capabilities, an extensive physical infrastructure network and a broader range of transactional, savings and investment products. These dynamics have supported balance retention and the increasing centralization of individual and SME customers' financial relationships within the institution. We continue to optimize the deposit mix, comprising 70% demand deposits and 30% time deposits, driving funding cost efficiencies. This evolution reflects the coordinated execution of commercial deposit -gathering and balance sheet management initiatives, favoring a greater share of more stable and efficient funding sources and supporting the resilience of net interest income. Money market operations and credit notes issued increased 37% vs. 2Q26 and 12% compared to the same period of the previous year. Overall, total bank deposits grew 5% sequentially and 13% vs. 3Q25. Stage 1 and 2 loans Stage 1 and 2 Loans (Million Pesos) 2Q26 3Q25 Stage 1 and 2 loans Mortgages 287,802 297,725 304,350 2% 6% Auto Loans 65,245 76,924 80,463 5% 23% Credit Card 75,165 80,647 82,568 2% 10% Payroll 90,089 98,822 100,081 1% 11% Consumer 518,301 554,118 567,462 2% 9% Commercial 303,174 325,653 341,440 5% 13% Corporate 222,898 229,963 246,710 7% 11% Government 155,490 163,459 177,720 9% 14% Stage 1 and 2 loans 1,199,863 1,273,193 1,333,332 5% 11% Stages 1 & 2 loans ex-Government 1,044,373 1,109,734 1,155,612 4% 11% 3Q25 2Q26 3Q26 Change
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II. Management’s Discussion & Analysis Third Quarter 2026 14 Stage 1 and 2 loans grew 5% vs. 2Q26, or Ps 60.14 billion, and 11% YoY, with growth across all portfolios. In consumer lending, the auto portfolio remained the main driver, recording 5% sequential growth, or Ps 3.54 billion, and 23% YoY, driven by market momentum, strategic commercial partnerships, origination process improvements and commercial execution that continues to strengthen lending momentum. Mortgages increased 2% vs. the previous quarter, or Ps 6.63 billion, and 6% YoY, driven by a more competitive value proposition linked to hyperpersonalization , greater financing appetite amid lower interest rates, and process optimization supported by the implementation of technology capabilities. Likewise, credit cards grew 2% QoQ, or Ps 1.92 billion, and 10% YoY, resulting from increased commercial activity, targeted campaigns and deeper customer engagement. Finally, payroll went up 1% in the quarter, or Ps 1.26 billion, and 11% vs. 3Q25, supported by resilient employment, commercial initiatives across different sales channels and the growing offering of immediate liquidity products. Business segments showed favorable performance, recording 5% growth in commercial and 7% in corporate vs. the previous quarter. These dynamics were supported by resilient financing demand, favoring greater utilization of credit lines and activity in strategic sectors of the economy. Compared to 3Q25, commercial and corporate loans grew 13% and 11%, respectively, reflecting sustained financing demand for operating needs and liability restructuring. Lastly, government loans grew 9% sequentially and 14% YoY, reflecting greater utilization of financing lines. Within commercial lending, SME stage 1 and 2 balance increased 3% sequentially and 7% YoY, supported by resilient financing demand and continuous improvements in origination and credit assessment models. NPL ratio dropped (3bps) QoQ and (10bps) YoY, standing at 1.87%, reflecting the continued application of prudent selection criteria, portfolio management and targeted collection strategies. SME's Loans (Million Pesos) 2Q26 3Q25 Stage 1 and 2 loans 61,319 64,149 65,905 3% 7% % of Commercial Portfolio, stage 1 and 2 loans 20.2% 19.7% 19.3% (40 bps) (92 bps) % of Portfolio, stage 1 and 2 loans 5.1% 5.0% 4.9% (10 bps) (17 bps) NPL Ratio 1.97% 1.90% 1.87% (3 bps) (10 bps) 3Q25 2Q26 3Q26 Change GFNorte’s corporate loan portfolio is well diversified by industry and region, showing low concentration risk. Within the private sector, the Group’s 20 largest corporate borrowers account for 13.1% of stages 1 and 2 loans; the largest corporate exposure represents 1.9%, while borrower number twenty represents 0.4%. All 20 corporates hold an A1 credit rating. Government stage 1 and 2 portfolio closed the quarter with a balance of Ps 1 77.72 billion, 9% higher sequentially. The government loan portfolio is well diversified by region. Likewise, its risk profile is adequate; 35.9% of the government portfolio corresponds to Federal Government exposure, and among state and municipal exposures, 92.2% are backed by fiduciary guarantees.
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II. Management’s Discussion & Analysis Third Quarter 2026 15 Market share position (CNBV figures as of August 2026): The system's stage 1 and 2 loans increased 8.9% YoY; Banorte grew 9.4%, with a 15.2% market share, 7bps higher YoY. • Mortgages: Banorte held a 20.0% market share, increasing 10bps YoY and maintaining second place in the banking system. • Credit Card Loans: Banorte's market share declined (42bps) in the year to 10.9%, due to the reconfiguration of the system following the entry of a new participant; nevertheless, it maintained third place. • Auto Loans: In the year, Banorte increased its market share by 171bps to 20.9%, consolidating second place in the system. • Payroll Loans: Market share stood at 21.9%, up 88bps YoY and maintaining second place in the market. • Commercial Loans: Market share (including corporate and SMEs, according to CNBV classification) stood at 12.6%, declining (24bps) over the last 12 months and maintaining second place in the overall system. • Government Loans: Banorte increased its market share 186bps to 29.2%, ranking second in the system. Further detail on Stage 1 and 2 loans and Stage 3 loans in the Risk Management Report 1) displayed by Sector and Subsidiary, page 12 2) displayed by Federal Entities and Subsidiary, page 12 3) displayed by Remaining Term, page 13
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II. Management’s Discussion & Analysis Third Quarter 2026 16 Stage 3 Loans Stage 3 loans balances declined (Ps 383 million) in the quarter, mainly explained by a reduction of (Ps 451 million) in commercial loans, driven by portfolio management efforts, sustained repayments, and recoveries . On an annual basis, they increased Ps 2.36 billion, mainly driven by adjustments to the write -off policy in mortgages and the accelerated growth in credit cards. Furthermore, the year -over-year evolution remained aligned with loan growth, while asset quality continued to be supported by prudent origination, monitoring and risk management criteria. Stage 3 Loans (Million Pesos) 2Q26 3Q25 Credit Cards 2,426 2,948 2,989 41 563 Payroll 2,288 2,580 2,721 141 433 Auto Loans 340 426 445 19 105 Mortgages 2,604 4,035 3,902 (133) 1,298 Commercial 8,133 8,543 8,093 (451) (40) Corporate 964 964 964 - - Government - - - - - Total 16,754 19,497 19,114 (383) 2,360 3Q25 2Q26 3Q26 Change NPL ratio stood at 1.4% at quarter -end, (9bps) below 2Q26, mainly driven by the improvement in commercial loans, arising from recovery and write-off management, as well as favorable performance in quality and containment indicators. Compared to 3Q25, there was a slight deterioration of 4bps, reflecting the change in the mortgage portfolio's write-off policy and still incorporating the commercial loan that became impaired in the same period of last year . In consumer lending, NPL behavior continued to reflect growth and changes in portfolio maturity, particularly in credit cards and payroll. The NPL level across the Group's portfolios continues to reflect the focus on selective risk -taking and the consistent application of prudent origination, portfolio management, mitigation and collection criteria. NPL Ratio 3Q25 4Q25 1Q26 2Q26 3Q26 Credit Cards 3.1% 3.5% 3.1% 3.5% 3.5% Payroll 2.5% 2.9% 2.4% 2.5% 2.6% Auto Loans 0.5% 0.5% 0.6% 0.6% 0.5% Mortgages 0.9% 1.0% 1.3% 1.3% 1.3% Commercial 2.6% 2.5% 2.5% 2.6% 2.3% SMEs 2.0% 1.7% 1.8% 1.9% 1.9% Rest of commercial 2.8% 2.7% 2.7% 2.7% 2.4% Corporate 0.4% 0.4% 0.4% 0.4% 0.4% Government 0.0% 0.0% 0.0% 0.0% 0.0% Total 1.37% 1.38% 1.43% 1.50% 1.41% Expected loss for Banco Mercantil del Norte, the Group’s largest subsidiary, was 2.0%, and the unexpected loss was 3.3%, with respect to the total portfolio as of 3Q26. Compared to 2Q26, these ratios were 2.1% and 3.4%, respectively, and 1.8% and 3.4% twelve months ago. Quarterly changes in accounts that affect stage 3 loans balance for the Financial Group were:
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II. Management’s Discussion & Analysis Third Quarter 2026 17 Regarding risk ratings, 88% of the total loan portfolio was rated as Risk A, 7% as Risk B, and 5% as Risk C, D, and E altogether. Notes: 1. Figures for reserve creation and rating are as of September 30th, 2026. 2. The loan portfolio is rated pursuant to rules issued by the CNBV, in Chapter V, Second Title of General Provisions Applicable to Credit Institutions, and it can also be rated according to internal methodologies authorized by this same regulator. The Institution uses regulatory methodologies to rate all credit portfolios. The Institution uses internal methodologies authorized by the CNBV according to the following: for the Revolving Consumer portfolio as of January 2018, for the Auto (Individuals) portfolio as of January 2020, for the Mortgage portfolio as of July 2023, for the portfolio of commercial borrowers with sales or income greater than or equal to 14 million UDIS, from January 2019 in the Banco Mercantil del Norte subsidiary and f rom February 2019 in the subsidiaries Arrendadora and Factor Banorte and for the portfolio of commercial borrowers with sales or income lower to 14 million UDIS in Banco Mercantil del Norte and the subsidiary Arrendadora y Fact or Banorte from August 2024. The Institution uses risk ratings: A1; A2; B1; B2; B3; C1; C2; D and E to classify provisions according to the portfolio segm ent and percentage of the provisions representing the outstanding balance of the loan, and which are set forth in Fifth Section of the “Reserve creation and their classification by degree of risk” found in Chapter 5, Second Title of the aforementioned regulation. 3. The supplementary reserves established are in accordance with the general provisions applicable to credit institutions. Based on the Accounting provisions, the Institution has formal policies and procedures so that, where appropriate, those loans that have elements that justify greater potential deterioration can be migrated to a higher risk stage, even if they have not complied with such requirements, according to the Accounting Policies and Criteria applicable to the loan portfolio. As of 3Q26 the Institution did not have loans considered as stage 3 under such policies. Balance as of June '26 19,497 Transfer from stage 1 and 2 Loans to stage 3 11,695 Portfolio Purchase - Renewals (17) Debt reversal - Cash Collections (3,272) Discounts (143) Charge Offs (6,862) Foreclosures - Transfer from stage 3 to stage 1 and 2 Loans (1,790) Loan Portfolio Sale - Foreign Exchange Adjustments 6 Fair Value Ixe - Balance as of September '26 19,114 (Million Pesos) Stage 3 Loan variations MIDDLE MARKET COMPANIES GOVERNMENT ENTITIES FINANCIAL INTERMEDIARIES A1 1,214,369 1,213 787 86 1,368 181 3,636 A2 34,350 134 22 0 496 33 686 B1 56,017 57 0 0 1,760 42 1,859 B2 15,238 21 - 1 600 18 641 B3 25,763 81 6 0 1,330 73 1,491 C1 14,154 182 11 79 534 191 997 C2 25,152 377 - - 3,035 305 3,716 D 14,383 794 2 10 2,485 919 4,210 E 13,303 4,011 - 33 5,432 43 9,520 Total 1,412,730 6,870 829 210 17,040 1,806 26,754 Not Classified (851) BAP Sector Book 4,662 Deferred Items 5,326 Exempt - Total 1,421,867 6,870 829 210 17,040 1,806 26,754 27,116 361 0Supplementary Reserves Risk Rating of Loans as of 3Q26 - GFNorte (Million Pesos) CATEGORY LOANS LOAN LOSS RESERVES COMMERCIAL CONSUMER MORTGAGES BAP Reserves TOTAL Reserves
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II. Management’s Discussion & Analysis Third Quarter 2026 18 Loan Loss Reserves and Loan Loss Provisions Loan Loss Reserves as of 3Q26 totaled Ps 27.12 billion, increasing 4% sequentially. Charge-offs and discounts increased 22% vs 2Q26. Loan loss reserve coverage ratio stood at 141.9% in 3Q26, from 134.2% in 2Q26. Equity Shareholders' equity balance increased Ps 11.81 billion sequentially to Ps 262.61 billion. The main changes in the quarter were: net income of Ps 15.66 billion; reduction of (Ps 1.06 billion) from the valuation of instruments for cash flow hedging; decrease of (Ps 1.62 billion) derived from interest on subordinated notes; and a reduction of (Ps 1.80 billion) from the valuation of financial instruments to be received or sold. Supplementary Notes to the Financial Information The following is a breakdown of the credit notes issued by each entity: Notes Appendix 1 Grupo Financiero Banorte Notes Appendix 1 Banco Mercantil del Norte Loan Loss Reserves (Million Pesos) Previous Period Ending Balance 26,173 Provisions charged to results 8,363 Provisions charged to retained earnings - Created with profitability margin - Reserve Portfolio Sold - Other items - Charge offs and discounts: Commercial Loans (1,106) Consumer Loans (5,611) Mortgage Loans (704) Foreclosed assets - (7,421) Cost of debtor support programs (18) Valorization and Others 19 Adjustments - Loan Loss Reserves at Period End 27,116 3Q26
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II. Management’s Discussion & Analysis Third Quarter 2026 19 Current Events 1. GRUPO FINANCIERO BANORTE RANKS FIFTH AMONG MEXICO'S 50 MOST SUSTAINABLE COMPANIES On August 4, Grupo Financiero Banorte ranked fifth in Mundo Ejecutivo's Mexico's 50 Most Sustainable Companies ranking and stood out as the highest-ranked financial institution. 2. EUROMONEY RECOGNIZES BANORTE AS THE BEST BANK FOR SMES IN MEXICO On August 6, Euromoney recognized Banorte, for the third consecutive year, as the Best Bank for Small and Medium - Sized Enterprises in Mexico. In granting this distinction, the publication highlighted sustained SME loan portfolio growth, financial inclusion initiatives, the development of personalized solutions and Banorte SME Banking's digital capabilities. At the end of 2025, Banorte's market share in this segment exceeded 14%. Furthermore, during 2025, Mujer PyME Banorte financed more than 5 thousand women entrepreneurs with more than 2 thousand million pesos. 3. GRUPO FINANCIERO BANORTE IS RECOGNIZED AMONG THE WORLD'S MOST SUSTAINABLE COMPANIES On August 25, Grupo Financiero Banorte was recognized as one of the World's Most Sustainable Companies by TIME and Statista. The ranking identifies 750 companies with outstanding environmental, social and governance performance, based on an assessment of m ore than 5,800 companies and more than 20 indicators related to environmental performance, social impact, transparency and compliance with international standards. 4. Mr. MARCOS RAMÍREZ MIGUEL IS RECOGNIZED AMONG MEXICO'S BEST CEOS On September 1, Mr. Marcos Ramírez Miguel was recognized by Forbes México as one of Mexico's 20 outstanding business leaders, in a selection that considers aspects such as financial results, innovation, organizational culture, inclusion, sustainability and value creation. 5. BANORTE IS INCLUDED IN THE EVIDENT AI INDEX FOR BANKS LATAM On September 1, Banorte was included in the Evident AI Index for Banks LATAM, becoming the only Mexican bank recognized in this regional index. Banorte ranked among the top ten banks assessed in Latin America and stood out in the leadership, innovation and transparency pillars. The institution's automation and artificial intelligence initiatives contributed to a tenfold increase in the acceptance rate of products and services, a 70% reduction in customer attrition and an increase of more than seven points in NPS. 6. GLOBAL FINANCE RECOGNIZES BANORTE FOR ITS INNOVATION AND DIGITAL EXPERIENCE On September 8, Global Finance recognized Banorte in the Institutional Digital Banking and Consumer Digital Banking categories, both in Mexico and Latin America, for its leadership in digital transformation. The Best Institutional Digital Banking distinction included recognition for Best Online Portal User Experience and Best Online Treasury and Cash Management Services, both in Mexico and Latin America, as well as Best Digital Payments Strategy in Mexico. In Consumer Digital Banking, it was recognized in Mexico and Latin America in the Best in Transformation subcategory. 7. TIME RECOGNIZES BANORTE AS ONE OF THE WORLD'S BEST COMPANIES On September 9, Banorte was included among the World's Best Companies 2026, a ranking prepared by TIME and Statista recognizing the best -performing companies globally, placing among the top three Mexican companies on the list. The ranking assesses three dimensions: employee satisfaction, revenue growth and sustainability transparency. 8. GRUPO FINANCIERO BANORTE IS INCLUDED IN EXPANSIÓN'S RESPONSIBLE COMPANIES 2026 RANKING On September 22, Grupo Financiero Banorte ranked 30th in Expansión's Responsible Companies 2026 ranking, advancing 10 places vs. 2025. The 2026 edition received 180 applications, and 173 companies were included in the ranking.
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II. Management’s Discussion & Analysis Third Quarter 2026 20 9. BANORTE BECOMES THE FIRST BANK IN MEXICO TO IMPLEMENT TOTAL RETURN SWAPS On September 24, after receiving regulatory approval, Banorte became the first bank in Mexico to implement Total Return Swaps. This new capability provides an additional tool to optimize the balance sheet and manage risk and capital, while broadening the solutions available to customers and the business. Since 2019, Banorte has launched or implemented 19 new product lines and market infrastructure initiatives in credit, interest rate, foreign exchange and equity derivatives. 10. EXTEL RECOGNIZES GRUPO FINANCIERO BANORTE AS THE MOST HONORED COMPANY On September 29, for the fifth consecutive year, Extel recognized Grupo Financiero Banorte as the Most Honored Company in the Latin America Executive Team ranking. Banorte achieved the top position in the Best Board of Directors category for the Latin American financial sector, excluding Brazil, as well as fi rst-place positions in the Best CEO, Best CFO, Best Investor Relations Officer, Best Investor Relations Team, Best Investor Relations Program and Best ESG categories. The results recognize the strength of Banorte's corporate governance practices, the quali ty and leadership of its management team, and its communication and execution capabilities, as well as its commitment to transparency, operational excellence and sustainable value creation for shareholders and other stakeholders. 11. BANORTE REDEEMS ITS TIER 2 SUBORDINATED NOTES EARLY On October 4, Banorte fully redeemed early its Preferred, Non-Convertible Tier 2 Subordinated Notes, bearing a 5.750% coupon and identified as BNR1031 575C (formerly BANOC36), issued on October 4, 2016, for an amount of $74.009 million US dollars.
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II. Management’s Discussion & Analysis Third Quarter 2026 21 Bank Banco Mercantil del Norte (Banorte) Consolidated Statement of Comprehensive Income and Consolidated Statement of Financial Position Highlights - Banorte Change (Million Pesos) 2Q26 3Q25 9M25 Net Interest Income 30,044 32,252 32,610 1% 9% 86,436 95,674 11% Non-Interest Income 5,636 6,028 6,212 3% 10% 16,283 18,724 15% Total Income 35,681 38,280 38,822 1% 9% 102,719 114,398 11% Non-Interest Expense 13,159 14,451 14,548 1% 11% 38,681 42,675 10% Provisions 7,282 6,171 7,623 24% 5% 17,040 20,533 20% Operating Income 15,240 17,658 16,652 (6%) 9% 46,997 51,190 9% Taxes 3,809 4,996 4,123 (17%) 8% 12,434 13,997 13% Subsidiaries & Minority Interest 46 58 56 (4%) 21% 145 153 6% Net Income 11,447 12,610 12,531 (1%) 9% 34,643 37,052 7% Balance Sheet Stage 1 Loans 1,161,127 1,230,439 1,289,920 5% 11% 1,161,127 1,289,920 11% Stage 2 Loans 10,216 12,726 12,314 (3%) 21% 10,216 12,314 21% Stage 1 & 2 Loans (a) 1,171,343 1,243,165 1,302,234 5% 11% 1,171,343 1,302,234 11% Stage 3 Loans (b) 16,317 19,013 18,780 (1%) 15% 16,317 18,780 15% Deferred Items ( c) 3,736 5,343 5,348 0% 43% 3,736 5,348 43% Total Loans (a+b+c) 1,191,396 1,267,521 1,326,362 5% 11% 1,191,396 1,326,362 11% Preventive Loan Loss Reserves 23,456 25,322 26,366 4% 12% 23,456 26,366 12% Total Loans Net (d) 1,167,939 1,242,199 1,299,996 5% 11% 1,167,939 1,299,996 11% Total Assets 1,861,668 1,984,803 2,121,381 7% 14% 1,861,668 2,121,381 14% Total Deposits 1,173,126 1,255,682 1,322,109 5% 13% 1,173,126 1,322,109 13% Total Liabilities 1,693,447 1,824,859 1,957,776 7% 16% 1,693,447 1,957,776 16% Equity 168,221 159,944 163,605 2% (3%) 168,221 163,605 (3%) 3Q25 2Q26 3Q26 Change 9M25 9M26 Profitability: NIM (1) 6.9% 6.9% 6.7% 6.5% 6.8% 6.8% Risk-Adjusted NIM (2) 5.2% 5.6% 5.1% 5.2% 5.3% 5.4% ROE (3) 27.0% 32.4% 31.1% 28.4% 31.2% 31.3% ROA (4) 2.5% 2.6% 2.4% 2.5% 2.5% 2.5% Operation: Efficiency Ratio (Cost to Income) (5) 36.9% 37.8% 37.5% 37.7% 37.3% 38.0% Operating Efficiency Ratio (Cost to Assets) (6) 2.8% 2.9% 2.8% 2.7% 2.8% 2.9% Average Liquidity Coverage Ratio for Banorte and SOFOM - Basel III (7) 159.9% 154.5% 149.5% 175.8% 165.2% Asset Quality: NPL Ratio 1.4% 1.5% 1.4% 1.4% 1.4% 1.4% Coverage Ratio 143.8% 133.2% 140.4% 143.8% 140.4% 140.4% Capitalization: Net Capital/ Credit Risk Assets 31.3% 31.3% 34.0% 31.3% 34.0% Capital Adequacy Ratio 22.3% 21.5% 22.5% 22.3% 22.5% Leverage Basic Capital/ Adjusted Assets 11.9% 11.8% 11.6% 11.9% 11.6% Financial Ratios - Banorte 3Q25 2Q26 3Q26 12M*9M25 9M26 1. NIM= Annualized Net Interest Income of the period / average Earning Assets of the period. 2. Risk-Adjusted NIM= Annualized Net Interest Income of the period adjusted for Credit Risks / average Earning Assets of the period. 3. ROE= Annualized Net Income of the period / average Majority Equity of the period. 4. ROA= Annualized Net Income of the period / average Total Assets of the period. 5. Cost to Income Ratio= Non-Interest Expense of the period / Total Income of the period. 6. Cost to Assets= Annualized Non-Interest Expenses of the period / average Total Assets of the period. 7. Preliminary LCR calculation. To be updated upon publication of Banco de Mexico’s official calculations. *12-month ratios, according to the new calculation methodology of the CNBV (National Banking and Securities’ Commission).
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II. Management’s Discussion & Analysis Third Quarter 2026 22 Changes vs. the previous quarter Net interest income (NII) grew 1% vs. 2Q26, driven by origination volume and loan mix, as well as consistent funding cost management. NIM declined (20bps) to 6.70% in the period, associated with an increase in average earning assets, in line with portfolio growth. Non-interest income increased 3% sequentially, mainly due to an improvement in other operating expenses. Net fee income declined (2%) sequentially, reflecting lower fees charged following the normalization of the wholesale structuring business after a particularly strong quarter, as well as higher fees paid associated with commercial dynamism in loan origination, in line with the portfolio expansion. Trading income declined (31%) vs. the previous quarter, mainly reflecting lower valuation results due to market interest rate movements. Other operating expenses declined (42%) vs. 2Q26, mainly driven by a favorable result from foreclosed assets and liability write-offs. Non-interest expense increased 1% in the quarter, mainly explained by the evolution of the business. The efficiency ratio for the quarter stood at 37.5%. Loan loss provisions increased 24% vs. the previous quarter, mainly explained by: i) higher loan origination across all portfolio segments; ii) additional provisioning for the impaired commercial loan in 3Q25; iii) the recalibration of the internal mortgage model; and iv) a lower comparative base, which includes releases associated with loans expressly guaranteed by the federal government and improvements in risk parameters across different portfolios. As a result, risk-adjusted NIM stood at 5.1%, declining (45bps) sequentially. In summary, net income for the quarter stood at Ps 12.53 billion, declining (1%) sequentially. ROE reached 31.1% and ROA 2.4%, with sequential declines of (130bps) and (12bps), respectively. Cumulative Changes vs. the previous year Net interest income (NII) increased 11% vs. 9M25, as a result of: i) expansion in origination volume and loan mix, accompanied by consistent funding cost management; and ii) effective balance sheet management, mitigating volatility associated with the interest rate easing cycle. Over the last 12 months, the reference rate accumulated a decline of (100bps). As a result of these factors, NIM expanded 22bps vs. 9M25, reaching 6.8% at the end of 9M26. Non-interest income expanded 15% vs. 9M25, mainly driven by solid net fee performance. Fees charged increased 2% vs. 9M25, mainly driven by transaction and management activity in consumer products. This growth offset the reduction in fees from digital affiliated businesses, in line with the strategy of prioritizing efficiency and profitability. Meanwhile, fees paid declined (17%), mainly reflecting this strategy, despite increased loan origination incentives for the sales force. As a result, net fee income increased 19% on a cumulative basis. Trading income declined (30%) vs. 9M25, reflecting lower foreign exchange activity and transaction maturities, partially offset by better valuation results. Other operating expenses declined (13%) in the period, benefiting from the sale of our stake in Buró de Crédito and liability write-offs, which offset lower results from foreclosed assets. Non-interest expense grew 10% vs. 9M25. This performance was driven by: i) higher personnel expenses; ii) inertial and transactional business growth; iii) organic expansion in commercial areas and infrastructure; and iv) investments in technology. The efficiency ratio stood at 37.3%, improving (35bps) vs. the same period of the previous year. Loan loss provisions increased 20% vs. the same period of the previous year, mainly explained by: i ) higher loan origination across all portfolio segments and a mix increasingly focused on consumer products; ii) the recalibration of certain internal risk models during the year; and iii) additional provisioning for the impaired commercial loan in 3Q25. Risk- adjusted NIM stood at 5.3%, an increase of 6bps vs. 9M25. Net income for the first nine months of 2026 increased 7% YoY, mainly driven by resilient financial margin, growth in banking services income and the recognition of the sale of our stake in Buró de Crédito at the beginning of the year. ROE increased 286bps to 31.2%, while ROA remained stable at 2.5%.
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II. Management’s Discussion & Analysis Third Quarter 2026 23 Equity Shareholders' equity balance amounted to Ps 163.60 billion, Ps 3.66 billion higher compared to the previous quarter. The main changes during the quarter were: net income of Ps 12.53 billion; a decrease of (Ps 1.65 billion) due to interest on subordinated notes; a reduction of (Ps 1.65 billion) from the valuation of financial instruments to be received or sold; and a (Ps 5.00 billion) reduction due to a dividend payment. Regulatory Capital (Banorte) Banorte has fully adopted the capital requirements established to date by Mexican authorities and international standards, so-called Basel III, which came into effect in January 2013. In accordance with these rules, Banorte has a minimum regulatory level of 7.0% for Core Equity Tier 1 and 10.5% for the Capitalization Ratio. Since Banorte has been confirmed as a Level II - Systemically Important Financial Institution, it must maintain two additional capital buffers: 1) 0.90pp of systemic importance capital conservation buffer, effective as of December 2019; 2) 6.50pp of net capital supplement TLAC, effective as of September 2026. The above brings the minimum regulatory requirement for CET1 to 7.9%, and the Capitalization Ratio to 17.90%. Capitalization (Banorte) (Million Pesos) 2Q26 3Q25 Core Tier 1 152,761 140,398 146,289 4% (4%) Tier 1 Capital 227,851 235,765 244,829 4% 7% Tier 2 Capital 2,111 4,621 4,893 6% 132% Net Capital 229,961 240,386 249,722 4% 9% Credit Risk Assets 735,536 769,063 735,109 (4%) (0%) Net Capital / Credit Risk Assets 31.26% 31.26% 33.97% 2.7 pp 2.7 pp Total Risk Assets 1,030,639 1,118,136 1,107,840 (1%) 7% Core Tier 1 14.82% 12.56% 13.20% 0.6 pp (1.6 pp) Tier 1 22.11% 21.09% 22.10% 1.0 pp (0.0 pp) Tier 2 0.20% 0.41% 0.44% 0.0 pp 0.2 pp Capitalization Ratio 22.31% 21.50% 22.54% 1.04 pp 0.23 pp 3Q25 2Q26 3Q26 Change (*) The capitalization ratio of the last reporting period is the one submitted to the Mexican Central Bank. At the end of 3Q26, the preliminary Capital Adequacy Ratio for Banorte was 22.54% considering credit, market, and operational risks, and 33.97% considering only credit risk. Moreover, Core Equity Tier 1 reached 1 3.20%, a level corresponding to a Systemically Important Institution Level I under the CNBV’s classification.
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II. Management’s Discussion & Analysis Third Quarter 2026 24 CAR increased +1.04 pp vs. 2Q26 due to the following effects: 3Q26 vs. 2Q26 1.04 pp 1. Net Income in 3Q26 1.13 pp 2. Effects in Risk Assets – Credit (Portfolio) 0.56 pp 3. Capital Notes 0.14 pp 4. Other Capital Effects (1) 0.11 pp 5. Effects in Risk Assets – Credit (Others) (2) 0.09 pp 6. Effects in Risk Assets – Operational (0.05 pp) 7. Securities’ mark-to-market valuation and Hedging Derivatives (3) (0.09 pp) 8. Effects in Risk Assets – Market (0.40 pp) 9. Dividend to the Financial Group (4) (0.45 pp) (1) Includes variation of permanent and intangible investments, and other variations in capital. (2) Includes issuer, counterparty, committed credit lines, and other assets. (3) Includes hedging derivatives in positions that are not marked to market. (4) Ps 5.0 billion on July 29, 2026. CAR increased +0.23 pp vs. 3Q25 due to the following effects: 3Q26 vs. 3Q25 0.23 pp 1. Net Income in the period 4.53 pp 2. Capital Notes (1) 1.60 pp 3. Effects in Risk Assets – Credit (Others) (2) 0.23 pp 4. Other Capital Effects (3) (0.09 pp) 5. Securities’ mark-to-market valuation and Hedging Derivatives (4) (0.12 pp) 6. Effects in Risk Assets – Operational (0.21 pp) 7. Effects in Risk Assets – Credit (Portfolio) (5) (0.22 pp) 8. Effects in Risk Assets – Market (1.36 pp) 9. Dividend to the Financial Group (6) (4.13 pp) (1) Includes the effect of the issuance of Capital Notes for USD $1.35 bill ion. (2) Includes issuer, counterparty, committed credit lines, and other assets (3) Includes variation of permanent and intangible investments, and other variations in capital. (4) Includes hedging derivatives in positions that are not marked to market. (5) Includes effect of calibration of internal models and effect of incorporating Tarjetas del Futuro’s portfolio into Banorte’s balance sheet. (6) Ps 25.3 billion on December 2, 2025; and Ps 14.0 billion on May 27, 2026; and Ps 5.0 billion on July 29, 2026
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II. Management’s Discussion & Analysis Third Quarter 2026 25 Evolution of Risk Assets (Banorte) In compliance with capitalization requirements established to date by Mexican authorities and the International Standards Basel III, Banorte classifies its Risk Assets as Credit, Market, and Operational, which are actively monitored by the Institution. Total Risk Assets as of September 2026 amounted to Ps 1.1 1 trillion, decreasing (Ps 10.30) billion vs. June 2026, and increasing Ps 77.20 billion vs. September 2025. The evolution of Risk Assets is presented below: Risk Assets (Million Pesos) 2Q26 3Q25 Total Credit 735,536 769,063 735,109 (4%) (0%) Credit (Loan Portfolio) 601,521 642,507 613,003 (5%) 2% Credit (Others) 134,015 126,556 122,106 (4%) (9%) Total Market 152,630 198,080 219,277 11% 44% Total Operational 142,473 150,992 153,454 2% 8% Total 1,030,639 1,118,136 1,107,840 (1%) 7% 3Q25 2Q26 3Q26 Change The main quarterly changes in RWAs vs. 2Q26 were: • Decrease in Credit Risk Assets (Loan Portfolio) from internal models and portfolio evolution. • Decline in Credit Risk Assets (Others) due to the management of committed lines. • Increase in Market Risk Assets due to balance sheet composition and exchange rate effects. • Increase in Operational Risk Assets driven by an increase in earning assets and computable income for the Business Indicator Method. The main annual changes in RWAs vs. 3Q25 were: • Increase in Credit Risk Assets (Loan Portfolio) from portfolio evolution and internal models. • Decrease in Credit Risk Assets (Others) due to the management of committed lines. • Increase in Market Risk Assets resulting from the standard deposit model. • Increase in Operational Risk Assets driven by an increase in earning assets and computable income for the Business Indicator Method. Leverage Ratio (Banorte) Leverage Ratio, according to CNBV’s regulation, is presented below: Leverage (Banorte) (Million Pesos) 2Q26 3Q25 Tier 1 Capital 227,851 235,765 244,829 4% 7% Adjusted Assets 1,915,049 2,003,449 2,119,519 6% 11% Leverage Ratio 11.90% 11.77% 11.55% (22 bps) (35 bps) 3Q25 2Q26 3Q26 Change Adjusted Assets are defined according to the General Provisions applicable to Credit Institutions.
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II. Management’s Discussion & Analysis Third Quarter 2026 26 Bineo Bineo’s operations were reclassified as a Discontinued item in the Income Statement and as a Long-term asset held for sale in the Balance Sheet. Therefore, the financial results and accounts presented in this section refer exclusively to Bineo and are no longer consolidated within the Group’s figures. Consolidated Statement of Comprehensive Income and Consolidated Statement of Financial Position Highlights - Bineo Change (Million Pesos) 2Q26 3Q25 9M25 Net Interest Income 19 16 16 1% (16%) 86 50 (42%) Non-Interest Income (2) 0 (2) N.A. (29%) (8) (0) 100% Total Income 18 16 14 (11%) (20%) 78 50 (37%) Non-Interest Expense 226 208 158 (24%) (30%) 790 591 (25%) Provisions 3 0 0 (82%) (100%) 16 0 (99%) Operating Income (211) (192) (144) 25% 32% (727) (542) 26% Taxes 0 6 11 65% N.A. (3) (5) (102%) Subsidiaries & Minority Interest - - - N.A. N.A. - - N.A. Net Income (212) (198) (154) 22% 27% (725) (537) 26% Balance Sheet Stage 1 Loans 4 0 0 (69%) (97%) 4 0 (97%) Stage 2 Loans 0 0 - (100%) (100%) 0 - (100%) Stage 1 & 2 Loans (a) 4 0 0 (71%) (97%) 4 0 (97%) Stage 3 Loans (b) 2 0 0 (68%) (99%) 2 0 (99%) Deferred Items ( c) - - - N.A. N.A. - - N.A. Total Loans (a+b+c) 7 0 0 (71%) (98%) 7 0 (98%) Preventive Loan Loss Reserves 2 0 0 (70%) (99%) 2 0 (99%) Total Loans Net (d) 4 0 0 (71%) (97%) 4 0 (97%) Total Assets 3,147 3,070 2,998 (2%) (5%) 3,147 2,998 (5%) Total Deposits 28 20 18 (6%) (33%) 28 18 (33%) Total Liabilities 80 146 117 (20%) 46% 80 117 46% Equity 3,067 2,923 2,881 (1%) (6%) 3,067 2,881 (6%) 3Q25 Change 9M25 9M262Q26 3Q26 Regulatory Capital (Bineo) Bineo has fully adopted the capital requirements established to date by Mexican authorities and international standards, so-called Basel III, which came into effect in January 2013. The minimum Capital Adequacy Ratio required for Bineo amounted to 10.50%, which includes a minimum requirement of Core Equity Tier 1 of 7.00%. Capitalization (Bineo) (Million Pesos) 2Q26 3Q25 Core Tier 1 858 842 842 0% (2%) Tier 1 Capital 858 842 842 0% (2%) Tier 2 Capital 0 0 0 N.A. N.A. Net Capital 858 842 842 0% (2%) Credit Risk Assets 271 241 241 0% (11%) Net Capital / Credit Risk Assets 316.75% 349.86% 348.81% (1.0 pp) 32.1 pp Total Risk Assets 339 310 310 0% (9%) Core Tier 1 252.86% 271.51% 271.26% (0.2 pp) 18.4 pp Tier 1 252.86% 271.51% 271.26% (0.2 pp) 18.4 pp Tier 2 0.00% 0.00% 0.00% 0.0 pp 0.0 pp Capitalization Ratio 252.86% 271.51% 271.26% (0.25 pp) 18.40 pp 3Q25 2Q26 3Q26 Change (*) The capitalization ratio of the last reporting period is the one submitted to the Mexican Central Bank. At the end of 3Q26, the preliminary Capital Adequacy Ratio for Bineo was 271.26% considering credit, market, and operational risks, and 3 48.81% considering only credit risk. Moreover, Core Equity Tier 1 reached 2 71.26%, a level corresponding to a Systemically Important Institution Level I under the CNBV’s classification.
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II. Management’s Discussion & Analysis Third Quarter 2026 27 CAR decreased (0.25 pp) vs. 2Q26 due to the following effects: 3Q26 vs. 2Q26 (0.25 pp) 1. Capitalization 36.13 pp 2. Intangibles’ Recognition 13.84 pp 3. Effects in Risk Assets – Operational 0.37 pp 4. Effects in Risk Assets – Market (0.02 pp) 5. Effects in Risk Assets – Credit (0.75 pp) 6. Net Losses in 3Q26 (49.81 pp) CAR increased 18.40 pp vs. 3Q25 due to the following effects: 3Q26 vs. 3Q25 18.40 pp 1. Capitalization 154.08 pp 2. Intangibles’ Recognition 50.01 pp 3. Effects in Risk Assets – Credit 23.60 pp 4. Effects in Risk Assets – Market (0.18 pp) 5. Effects in Risk Assets – Operational (0.28 pp) 6. Net Losses (208.84 pp) Evolution of Risk Assets (Bineo) In compliance with capitalization requirements established to date by Mexican authorities and the International Standards Basel III, Bineo classifies its Risk Assets as Credit, Market, and Operational, which are actively monitored by the Institution. Total Risk Assets as of September 2026 amounted to Ps 310 million, slightly increasing vs June 2026 and decreasing (Ps 29 million) vs September 2025. The evolution of Risk Assets is presented below: Risk Assets (Million Pesos) 2Q26 3Q25 Total Credit 271 241 241 0% (11%) Credit (Loan Portfolio) 12 10 15 52% 30% Credit (Others) 259 230 226 (2%) (13%) Total Market 2 2 2 1% 14% Total Operational 67 67 67 (1%) 0% Total 339 310 310 0% (9%) 3Q25 2Q26 3Q26 Change The main quarterly changes in RWAs vs. 2Q26 were: • Increase in Credit Risk Assets (Loan Portfolio) driven by higher employee loans. • Increase in Market Risk Assets driven by asset growth resulting from capitalizations. • Decrease in Operational Risk Assets given lower earning assets. The main annual changes in RWAs vs. 3Q25 were: • Increase in Credit Risk Assets (Loan Portfolio) driven by higher employee loans. • Increase in Market Risk Assets driven by asset growth resulting from capitalizations. • Increase in Operational Risk Assets driven by the evolution of the Business Indicator.
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II. Management’s Discussion & Analysis Third Quarter 2026 28 Leverage Ratio (Bineo) Leverage Ratio, according to CNBV’s regulation, is presented below: Leverage(Bineo) (Million Pesos) 2Q26 3Q25 Tier 1 Capital 858 842 842 0% (2%) Adjusted Assets 1,146 1,188 1,161 (2%) 1% Leverage Ratio 74.89% 70.86% 72.57% 171 bps (232 bps) 2Q26 3Q26 Change3Q25 Adjusted Assets are defined according to the General Provisions applicable to Credit Institutions.
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II. Management’s Discussion & Analysis Third Quarter 2026 29 Long Term Savings Seguros Banorte Income Statement and Balance Sheet Highlights- Seguros Banorte Change (Million Pesos) 2Q26 3Q25 9M25 Interest Income (Net) 791 692 861 24% 9% 2,672 2,437 (9%) Credit Provisions (0) - - N.A. 100% 0 - (100%) Premium Revenue (Net) 9,729 13,384 10,484 (22%) 8% 38,724 41,385 7% Net increase in technical reserves 3,260 5,650 2,952 (48%) (9%) 17,264 17,537 2% Net Cost for Insurance Operations 1,321 1,680 1,746 4% 32% 4,483 5,910 32% Net Cost of Claims and Other Obligations (1) 5,030 6,096 5,441 (11%) 8% 14,524 16,252 12% Trading Income 1,162 1,205 736 (39%) (37%) 2,950 2,819 (4%) Other Operating Income (Expenses) (1) 169 296 275 (7%) 63% 462 861 86% Total Operating Income 2,239 2,152 2,219 3% (1%) 8,538 7,802 (9%) Non Interest Expense 438 494 492 (0%) 12% 1,458 1,519 4% Operating Income 1,801 1,658 1,727 4% (4%) 7,080 6,283 (11%) Taxes 380 460 510 11% 34% 1,796 1,779 (1%) Subsidiaries' Net Income 401 524 364 (31%) (9%) 1,084 1,206 11% Net income from continuing operations 1,821 1,722 1,581 (8%) (13%) 6,367 5,710 (10%) Minority Interest 9 11 10 (10%) 6% 26 28 8% Net Income 1,812 1,711 1,571 (8%) (13%) 6,341 5,682 (10%) Other Comprehensive Income 21 7 (37) (638%) (274%) 26 2 (94%) Comprehensive Income 1,843 1,729 1,544 (11%) (16%) 6,393 5,712 (11%) Shareholder’s Equity 26,810 25,269 26,812 6% 0% 26,810 26,812 0% Total Assets 119,192 137,579 141,819 3% 19% 119,192 141,819 19% Technical Reserves 81,198 101,043 103,170 2% 27% 81,198 103,170 27% Premiums sold 10,736 16,284 11,268 (31%) 5% 45,152 48,111 7% Coverage ratio of technical reserves 1.1 1.1 1.1 0.0 pp (0.0 pp) 1.1 1.1 (0.0 pp) Solvency capital requirement coverage ratio 7.1 8.1 8.4 0.3 pp 1.2 pp 7.1 8.4 1.2 pp Coverage ratio of minimum capital 185.1 167.0 176.9 9.8 pp (8.2 pp) 185.1 176.9 (8.2 pp) Claims ratio 77.9% 78.9% 72.3% (6.6 pp) (5.6 pp) 67.8% 68.2% 0.4 pp Combined ratio 93.1% 90.6% 90.1% (0.5 pp) (3.0 pp) 80.2% 82.1% 1.9 pp ROE 28.1% 28.1% 24.3% (3.8 pp) (3.8 pp) 32.4% 28.3% (4.1 pp) 28.4% ROE ex-Banorte Futuro 54.1% 50.3% 45.9% (4.4 pp) (8.2 pp) 65.8% 52.8% (13.0 pp) 52.6% 3Q25 2Q26 3Q26 Change 9M25 9M26 12M* *12-month ratios, according to the new calculation methodology of the CNBV (National Banking and Securities’ Commission). 1.During 4Q25, an accounting reclassification of insurance provisions was made from other operating income (expenses) to cost of claims, due to the change in VAT accreditation. Net interest income increased 24% sequentially, mainly due to a higher contribution from the investment portfolio and the positive valuation effect of exchange rate movements. In 9M26, it declined (9%) vs. 9M25, mainly reflecting weaker financial investment performance. Premium income declined (22%) vs. 2Q26, associated with the normalization of premium issuance. On a cumulative basis, premium income increased 7%, mainly driven by higher placement of the flexible product (PVB) and solid performance in the auto portfolio, linked to lending activity. Meanwhile, technical reserves remained in line with business evolution. Damages and claims declined (11%) QoQ, mainly due to better performance in life and medical expenses segments. On a cumulative basis, it increased 12%, associated with the placement of flexible products (PVB) and higher claims in the auto portfolio. In this regard, the claims ratio improved (6.6pp) sequentially, although it increased 0.4pp vs. 9M25. Acquisition costs increased 4% QoQ, mainly reflecting a lower contribution from reinsurance fee income compared to 2Q26. In 9M26, it increased 32%, driven by higher activity across all sales channels and particularly higher fees related to product placement through the bancassurance model.
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II. Management’s Discussion & Analysis Third Quarter 2026 30 Net Operating Income was Ps 1.73 billion in 3Q26, 4% higher sequentially, supported by greater commercial activity, particularly in credit-related products. In 9M26, it declined (11%), mainly due to higher acquisition costs arising from the bancassurance fee scheme and greater claims pressure associated with non-creditable VAT. Net Income for the quarter was Ps 1.57 billion, (8%) lower vs. 2Q26. Meanwhile, Net Income at Seguros Banorte, excluding its subsidiary Afore XXI Banorte, stood at Ps 1.21 billion, contributing 7.8% of GFNorte's net income in 3Q26. ROE for the insurance business , excluding its subsidiary Afore XXI Banorte, declined (4.4pp) in the quarter, reaching 45.9% at the end of 3Q26. Regarding the disclosure requested by the General Provisions applicable to the Financial Groups’ holding companies, the following was presented for this reporting period: i. Risks assumed through the issuance of insurance premiums and bonds, with respect to operations and authorized branches of cancelled operations. • No cancellations were registered during 3Q26 that involved any technical risk. ii. Damages and claims, as well as compliance of reinsurers and bonding companies with their obligations. • In 3Q26, claims indicators remained under control. During the same period, reinsurers complied with their obligations. iii. Costs derived from issuance of insurance policies and bonds. • There were no relevant events to disclose in 3Q26 for premium issuance. iv. Risk transfer through reinsurance and bonding contracts • In the Damages segment, risks were transferred to reinsurers, mostly foreign reinsurers, including 3 significant businesses, 2 associated with the transformation industry and 1 with government. v. Contingencies arising from non-compliance by reinsurers and bonding companies. • There were no relevant events relating to non-compliance in 3Q26. Afore XXI Banorte Afore XXI Banorte Change (Million Pesos) 2Q26 3Q25 9M25 Net Income 802 1,048 727 (31%) (9%) 2,168 2,412 11% Shareholder’s Equity 24,811 24,476 25,202 3% 2% 24,811 25,202 2% Total Assets 27,058 26,882 27,649 3% 2% 27,058 27,649 2% AUM (SIEFORE) 1,538,219 1,700,217 1,724,109 1% 12% 1,538,219 1,724,109 12% ROE 13.1% 17.3% 11.7% (5.7 pp) (1.4 pp) 12.0% 13.1% 1.1 pp 13.1% 12M*3Q25 2Q26 3Q26 Change 9M269M25 *12-month ratios, according to the new calculation methodology of the CNBV (National Banking and Securities’ Commission). In 3Q26, Afore XXI Banorte's net income stood at Ps 727 million, (31%) lower vs. 2Q26, due to a lower contribution from financial products. In 9M26, net income reached Ps 2.41 billion, increasing 11% vs. 9M25, supported by higher fee income associated with the increase in assets under management, as well as higher voluntary contributions. ROE reached 11.7% in 3Q26, declining (5.7pp) compared to 2Q26 . Excluding goodwill, Return on Tangible Equity (ROTE) reached 35.6% in 3Q26. Net Income of Afore XXI Banorte represented 2.3% of the Financial Group’s net income in the third quarter.
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II. Management’s Discussion & Analysis Third Quarter 2026 31 Pensiones Banorte Income Statement and Balance Sheet Highlights- Pensiones Banorte Change (Million Pesos) 2Q26 3Q25 9M25 Interest Income (Net) 4,489 3,764 3,876 3% (14%) 15,360 14,641 (5%) Credit Provisions 7 6 9 45% 41% 25 21 (19%) Premium Income (Net) 4,574 4,549 7,570 66% 66% 11,967 16,993 42% Technical Reserves 4,072 3,321 5,430 64% 33% 12,367 15,390 24% Damages, Claims (Net) 3,969 4,372 4,500 3% 13% 11,714 13,015 11% Trading Income 128 416 45 (89%) (65%) 135 594 340% Other Operating Income (Expenses) (53) 98 29 (71%) 154% (187) 62 133% Total Operating Income 1,090 1,129 1,580 40% 45% 3,169 3,864 22% Non Interest Expense 130 145 153 5% 17% 403 443 10% Operating Income 960 984 1,427 45% 49% 2,766 3,422 24% Taxes 180 250 168 (33%) (7%) 696 702 1% Subsidiaries' Net Income 2 1 3 178% 82% 6 6 6% Net Income 781 735 1,262 72% 62% 2,076 2,726 31% Other Comprehensive Income 32 5 (4) (180%) (111%) 56 (4) (108%) Comprehensive Income 814 740 1,258 70% 55% 2,131 2,722 28% Shareholder’s Equity 12,102 14,259 15,517 9% 28% 12,102 15,517 28% Total Assets 290,877 312,048 315,393 1% 8% 290,877 315,393 8% Technical Reserves 273,606 290,868 296,424 2% 8% 273,606 296,424 8% Premiums sold 4,574 4,549 7,570 66% 66% 11,967 16,993 42% Coverage ratio of technical reserves 1.0 1.1 1.0 (0.0 pp) 0.0 pp 1.0 1.0 0.0 pp Solvency capital requirement coverage ratio 8.4 12.6 8.8 (3.9 pp) 0.4 pp 8.4 8.8 0.4 pp Coverage ratio of minimum capital 51.8 58.8 64.0 5.2 pp 12.1 pp 51.8 64.0 12.1 pp ROE 26.5% 21.0% 33.5% 12.5 pp 6.9 pp 24.9% 25.7% 0.8 pp 25.1% 3Q25 2Q26 3Q26 Change 9M25 9M26 12M* *12-month ratios, according to the new calculation methodology of the CNBV (National Banking and Securities’ Commission) Net interest income increased 3% vs. the previous quarter, amounting to Ps 3.88 billion, supported by the performance of financial investments, which offset the lower valuation of inflation -linked securities. In 9M26, it declined (5%) vs. 9M25, affected by lower inflation during the period and its impact on the valuation of inflation-linked securities. Meanwhile, technical reserves remained in line with higher premium volumes and, on a cumulative basis, reflected the effect of lower inflation levels. Premium income increased 66% sequentially and 42% in 9M26, reflecting stronger business generation, supported by increased market share and higher constitutive amounts in awarded resolutions. Meanwhile, technical reserves increased in line with business growth. Net income increased 72% sequentially and 31% on a cumulative basis, driven by greater business generation. Pensiones Banorte represented 8.1% of GFNorte's net income in 3Q26. ROE of Pensiones Banorte stood at 33.5% in the quarter, increasing 12.5pp vs. the previous quarter.
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II. Management’s Discussion & Analysis Third Quarter 2026 32 Brokerage B ro kerage Secto r C hange (M illion Pesos) 2Q26 3Q25 9M 25 Net Income 272 367 311 (1 5%) 1 4% 1 ,273 1,044 (1 8%) Shareholder’s Equity 5,667 5,792 6,127 6% 8% 5,667 6,127 8% Assets Under M anagement 1 ,685,560 1 ,839,062 1,858,694 1% 1 0% 1 ,685,560 1,858,694 1 0% Total Assets 232,895 209,1 68 204,441 (2%) (1 2%) 232,895 204,441 (1 2%) ROE 1 9.7% 25.9% 20.6% (5.3 pp) 1 .0 pp 32.0% 23.7% (8.3 pp) 21 .3% Net Capital (1 ) 4,452 4,667 4,788 3% 8% 4,452 4,788 8% 12M *3Q26 C hange 9M 269M 253Q25 2Q26 *12-month ratios, according to the new calculation methodology of the CNBV (National Banking and Securities’ Commission). 1) Net capital structure: Core Equity= Ps 4.79 billion, Additional Capital= Ps 0 million Net income at Casa de Bolsa and Operadora de Fondos was Ps 311 million in the quarter, declining (15%) sequentially, while on a cumulative basis it stood at Ps 1.04 billion, reflecting a lower contribution from trading income, partially offset by growth in income and assets under management at Operadora de Fondos. Net income from the brokerage business in 3Q26 accounted for 2.0% of the Group's net income. Assets Under Management At the end of 3Q26, AUMs totaled Ps 1.86 trillion, 1% higher in the quarter and 10% YoY. Assets under management by mutual funds totaled Ps 530 billion in September, representing a 19% annual increase. Assets held in fixed income funds amounted to Ps 461 billion, 5% higher in the quarter and 17% in the year. Assets held in equity funds amounted to Ps 69 billion, 2% above QoQ and 34% YoY, as of September 2026. As of 3Q26, Banorte held a 9.8% share of the mutual fund market, comprised of 11.6% share in fixed income funds and 4.8% in equity funds.
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II. Management’s Discussion & Analysis Third Quarter 2026 33 Other Subsidiaries Other subsidiaries Change (Million Pesos) 2Q26 3Q25 9M25 Arrendadora y Factor Banorte (1) Net Income 330 324 250 (23%) (24%) 646 741 15% Shareholder’s Equity 14,675 15,743 15,996 2% 9% 14,675 15,996 9% Loan Portfolio 48,528 47,226 49,262 4% 2% 48,528 49,262 2% Non-Performing Loans 437 484 333 (31%) (24%) 437 333 (24%) Non-Performing Loan Ratio 0.9% 1.0% 0.7% (0.3 pp) (0.2 pp) 0.9% 0.7% (0.2 pp) Coverage Ratio 83.2% 103.3% 116.6% 13.3 pp 33.4 pp 83.2% 116.6% 33.4 pp Loan Loss Reserves 363 500 389 (22%) 7% 363 389 7% Total Assets 59,417 60,101 61,967 3% 4% 59,417 61,967 4% ROE 9.1% 8.3% 6.3% (2.0 pp) (2.8 pp) 6.0% 6.3% 0.3 pp 8.5% Almacenadora Banorte Net Income 17 20 7 (64%) (59%) 56 36 (36%) Shareholder’s Equity 462 486 493 1% 7% 462 493 7% Inventories 1,352 1,245 1,351 8% (0%) 1,352 1,351 (0%) Total Assets 2,123 2,122 2,101 (1%) (1%) 2,123 2,101 (1%) ROE 15.1% 16.6% 5.8% (10.8 pp) (9.3 pp) 17.1% 9.9% (7.2 pp) 6.6% 3Q26 Change 9M25 9M26 12M*3Q25 2Q26 *12-month ratios, according to the new calculation methodology of the CNBV (National Banking and Securities’ Commission). (1) Property, plant, and equipment includes pure operating lease portfolio of Ps 4.89 billion and proprietary fixed assets of Ps 2.11 billion. Arrendadora y Factor Banorte Net income for the quarter totaled Ps 250 million, declining (23%) sequentially, associated with higher reserve requirements, partially offset by asset sales. In 9M26, net income reached Ps 741 million, increasing 15% vs. 9M25, due to higher lease income and recoveries. The NPL ratio stood at 0.7% at quarter -end, declining (0.3pp) vs. 2Q26. The Coverage Ratio stood at 116.6%, 13.3pp higher vs. 2Q26; and the Capital Ratio in 3Q26 stood at 31.9%, considering total risk-weighted assets of Ps 44.13 billion. The leverage ratio in June and September 2026 stood at 26.38% and 30.20%, considering adjusted assets of Ps 52.48 billion and Ps 46.67 billion, respectively. In 3Q26, Leasing and Factoring net income represented 1.6% of GFNorte's net income. Almacenadora Banorte In 3Q26, Almacenadora reported net income of Ps 7 million, declining (64%) sequentially, mainly explained by lower income from merchandise sales. In cumulative basis , it declined (36%), associated with lower sales income and recoveries. ROE stood at 5.8%; the Capital Ratio increased from 105.4% to 146.2% at the end of 3Q26, due to lower credit and operational risk requirements, considering net capital of Ps 447 million and Negotiable Certificates of Deposit in Authorized Warehouses of Ps 3.97 billion.
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III. Sustainability Performance Third Quarter 2026 34 III. Sustainability Performance The main ESG activities and results for the quarter are presented below, linked to the topics identified in the Group's double materiality assessment. These developments encompass climate risks, operational eco -efficiency, financial inclusion and education , impacts on communities and stakeholders, corporate conduct, traditional financial risks and capital mobilization for sustainable financial solutions. Environmental • For the seventh consecutive year, we responded to the Carbon Disclosure Project (CDP) questionnaire, strengthening transparency in our environmental management and climate strategy through the disclosure of decarbonization actions and identification of ris ks and opportunities related to climate change, water and forests. (Material topic: Climate Risks) • Energy eco-efficiency initiatives continued to advance across the branch network. Of the 58 branches targeted for EDGE certification, 28 branches are currently undergoing certification by Green Business Certification Inc. (GBCI). In addition, nine of the 25 photovoltaic systems scheduled for installation at company-owned branches during 2026 are in the verification phase prior to commencing operations, which will contribute to increasing the share of renewable energy in the Institution's energy consumption. (Material topic: Operational Eco-efficiency) Social • During the third quarter of 2026, four financial education workshops were held, benefiting 398 individuals, including customers, prospective customers and employees, with the aim of strengthening informed financial decision -making and broadening access to financial tools and knowledge. (Material topic: Financial Inclusion and Education) Fundación Banorte • During 3Q26, Fundación Banorte generated a quantifiable social impact in health, education, women, housing and nutrition through programs aligned with its strategic pillars. External Community ▪ Health Pillar: • Actions carried out: 10 healthcare brigades • Beneficiaries: 1,907 individuals • Key results: o 367 medical consultations through Médico Comunitario UKA o 120 follow-up medical consultations through Médico Comunitario UKA ▪ Education Pillar (Aulas de Medios, Bécalos Comunidades Banorte and Escuelas con Agua): • Actions carried out: 11; 8 media classrooms in operation and 3 schools in planning or undergoing installation • Beneficiaries: 1,601 individuals • Key results: o 55 certified education professionals o 170 students supported with financial scholarships o 1,206 students using media classrooms o 13 teachers trained o 157 participating parents o 400 UKA Parenting Skills workshops with 20,505 attendees
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III. Sustainability Performance Third Quarter 2026 35 ▪ Women pillar • Actions carried out: 7 productive projects, including Alimentos para Siempre in the State of Mexico and Veracruz, Aves de Corral in Yucatán, training programs for women entrepreneurs in Oaxaca and Chiapas, Mujeres Maravillosas and Preservación del Caracol Púrpura • Beneficiaries: 921 women • Key results: o 246 participants in Veracruz o 142 participants in Yucatán o 173 women beneficiaries in the State of Mexico o 103 women entrepreneurs in Oaxaca o 51 women entrepreneurs in Chiapas o 176 women receiving financial scholarships through the Mujeres Maravillosas program o 30 artisans, craftspeople and dyers participating in the Caracol Púrpura project ▪ Housing pillar • 2026 Target: 745 housing actions and 745 primary beneficiaries • Progress as of 3Q26: o 517 housing actions completed during the quarter o 650 housing actions completed YTD 2026 o 517 primary beneficiaries served o 2,474 people benefited, corresponding to individuals living in the completed homes ▪ Nutrition pillar • Primary beneficiaries served: 3,013 • People benefited: 20,734, corresponding to individuals living in the households served • Nutrition kits delivered: 38,757 YTD as of 3Q26 Internal Community ▪ Fuerza Banorte • Beneficiaries: 1,533 individuals • Key results o 14 special healthcare support grants o 300 vouchers redeemed for preventive examinations o 351 preventive examinations carried out through five health events in Mexico City, Cancún and Mérida o 339 medical aids delivered o 882 participants in Family Day ▪ Yo Soy Voluntario Banorte • Beneficiaries: 6,058 individuals • Key results: o 86 volunteer activities o 1,241 participating volunteers o 4,763 hours donated o Community, Experiencia Banorte and environmental activities ▪ Mil Sueños por Cumplir • Beneficiaries: 2,661 individuals • Key results:
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III. Sustainability Performance Third Quarter 2026 36 o 1,454 academic scholarships o 101 special education scholarships o 1,106 maintenance scholarships Governance • We increased our score in S&P Global's Corporate Sustainability Assessment (CSA) from 67 to 71 points, driven by greater transparency and stronger ESG information disclosed in the Annual Report. (Material topic: Corporate Conduct) • We were included in S&P Global's Sustainability Yearbook, a distinction achieved by 848 of more than 9,200 companies assessed worldwide. (Material topic: Corporate Conduct) • The 2025 Annual Sustainability Report was recognized by the LACP Vision Awards, placing Banorte among the 15 best reports in Mexico and within the Top 100 worldwide. (Material topic: Corporate Conduct) • GFNorte voluntarily published its first Sustainability Report aligned with IFRS S1 and S2, strengthening processes for managing and disclosing sustainability-related risks and opportunities, as well as the Group's preparedness for potential regulatory requirements. (Material topic: Climate Risks and Traditional Financial Risks). Financial • Mujer PyME Banorte received the Sustainable Innovation in Products and Services Award at the Expansión ESG Summit 2026 for promoting the development of women -led businesses in Mexico. (Material topic: Capital Mobilization for Sustainable Financial Solutions) • At the end of 3Q26, the Mujer Pyme product recorded loan origination of Ps 897 million through 437 loans granted. Cumulatively since the product's launch, origination amounts to Ps 5.63 billion, corresponding to 2,870 loans. (Material topic: Capital Mobilization for Sustainable Financial Solutions). • During 3Q26, Ps 4.04 billion was originated through 10,457 loans for the purchase of hybrid and electric cars. Ps 3.87 billion was assessed, resulting in an estimated reduction of 10,209 tCO2e (estimated avoided emissions data is available for 97% of the v ehicles in the portfolio). (Material topic: Capital Mobilization for Sustainable Financial Solutions).
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IV. General Information Third Quarter 2026 37 IV. General Information GFNORTE’s Analyst Coverage In compliance with the requirements of BOLSA MEXICANA DE VALORES, S.A.B. DE C.V, we present the list of brokers who provide an analysis coverage for GFNORTEO. Capital Structure 1. Outstanding shares registered in the National Securities Registry (RNV) 2. Outstanding shares registered – shares held in the Treasury– shares held in the Trust related to the stock-based compensation plan for employees. 3. Shares from buyback program and stock-based compensation plan for employees. Autonomous Renato Meloni Buy 12-Oct-26 Barclays Brian Morton Buy 20-Oct-26 BBVA Rodrigo Ortega Buy 12-Oct-26 BofA M. Pierry/ E. Gabilondo Buy 16-Oct-26 Bradesco Marcelo Mizrahi Buy 16-Oct-26 CITI Gustavo Schroden Buy 16-Oct-26 GBM Pablo Ordoñez Buy 21-Apr-26 Goldman Sachs Tito Labarta Buy 19-Oct-26 Itaú BBA Jorge Pérez Araya Buy 15-Oct-26 JP Morgan Yuri Fernandes Buy 14-Oct-26 Punto Research Miguel Cabrera Buy 22-Jul-26 UBS Thiago Batista Buy 19-Oct-26 BTG Pactual Eduardo Rosman Hold 21-Jul-26 HSBC Carlos Gómez Hold 20-Oct-26 Jefferies Iñigo Vega Hold 9-Sep-25 Kapital Alejandra Marcos Hold 21-Apr-26 Morgan Stanley Jorge Kuri Hold 22-Sep-26 Safra Daniel Vaz Hold 4-Oct-26 Santander Andrés Soto Hold 19-Aug-26 COMPANY ANALYST RECOMMENDATION DATE SERIES O As of September 30th, 2026 Issued, Subscribed and Paid Shares (1) 2,813,156,594 Accounting Shares Outstanding (2) 2,779,757,246 Shares held in the Trust related to the stock-based compensation plan for employees 33,399,348 Shares held in GFNorte's Treasury (3) 0 - Stock-based compensation plan for employees 0 - Buyback program 0 Number of Shares Holding Company Capital Structure
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V. Financial Statements Third Quarter 2026 38 V. Financial Statements Grupo Financiero Banorte GFNorte- Consolidated Statement of Comprehensive Income (Million Pesos) Interest Income 108,793 105,500 97,168 93,577 88,573 90,196 89,682 Interest Expense 73,047 70,047 60,924 54,442 49,096 52,581 51,555 Net Interest Income (NII) 35,746 35,453 36,244 39,135 39,477 37,614 38,127 Credit Provisions 5,086 4,818 7,357 4,329 6,916 6,079 7,674 Net Interest Income Adjusted for Credit Risk 30,661 30,635 28,887 34,806 32,562 31,536 30,454 Fund Transfers 698 703 705 742 644 669 670 Account Management Fees 497 514 525 551 560 599 600 Electronic Banking Services 5,216 5,346 4,493 4,430 4,119 4,070 4,083 For Commercial and Government Loans 425 428 424 678 544 706 444 Consumer Loan Fees 2,217 2,429 2,529 2,902 2,855 2,965 3,032 Fiduciary & Mortgage Appraisals 114 131 133 132 116 128 129 Mutual Funds 865 852 931 962 949 982 1,001 Trading & Financial Advising Fees 139 224 212 246 225 209 196 Other Fees Charged 26 (83) (64) (96) 23 (181) (2) Fees Charged on Services 10,198 10,543 9,888 10,546 10,035 10,148 10,153 Interchange Fees 3,790 3,723 2,925 2,707 2,455 2,333 2,258 Other Fees Paid 1,613 1,884 1,975 1,848 2,052 2,014 2,230 Fees Paid on Services 5,404 5,607 4,900 4,555 4,506 4,348 4,488 Net Service Fees 4,794 4,937 4,988 5,992 5,528 5,801 5,665 Premium Income Ins. & Annu. (Net) 21,325 14,448 14,019 18,867 22,078 17,607 17,736 Technical Reserves Ins. & Annu. 13,479 8,819 7,332 13,264 15,574 8,971 8,382 Cost of Acquisition from Insurance Operations 1,006 162 263 642 1,061 226 277 Net Cost of Claims and Other Obligations 8,367 8,856 9,000 10,353 8,841 10,468 9,940 Currency and Metals (1,263) (7,200) (1,832) (1,091) (333) (142) (61) Derivatives 2,408 5,696 9 (129) 459 (242) 213 Negotiable Instruments 1,540 834 699 (138) 567 1,377 257 Valuation 2,686 (669) (1,124) (1,357) 692 993 409 Currency and Metals (532) 2,633 2,198 2,267 730 681 706 Derivatives (41) (66) 305 (49) (62) (15) 238 Negotiable Instruments 314 551 1,051 954 412 958 167 Trading (259) 3,118 3,554 3,173 1,080 1,623 1,111 Other financial results (311) 3 8 75 (17) 153 2 Trading Income 2,115 2,451 2,437 1,890 1,755 2,769 1,522 Contributions to IPAB (1,272) (1,278) (1,260) (1,297) (1,329) (1,343) (1,382) Expenses Incurred in the Recovery of Credit Portfolio (389) (399) (397) (445) (401) (425) (447) Result for Foreclosed Assets 177 95 105 (33) 100 (167) 121 Lease Income 90 129 113 146 162 160 155 From Insurance & Annuities 79 86 119 1,634 225 396 309 Others 327 541 580 511 1,356 400 885 Total Other Operating Income (Expense) (987) (826) (741) 516 113 (979) (360) Total Non Interest Income 4,396 3,173 4,108 3,007 3,999 5,533 5,965 Total Operating Income 35,056 33,808 32,995 37,813 36,561 37,068 36,419 Personnel 6,184 6,497 6,475 7,102 6,879 7,113 7,121 Professional Fees 1,028 1,179 1,161 1,451 1,099 1,409 1,267 Administrative and Promotional Expenses 1,568 1,551 1,828 1,654 1,663 1,653 1,795 Rents, Depreciation & Amortization 3,043 3,461 3,405 3,913 3,325 3,664 3,626 Various Taxes 781 777 706 864 900 809 883 Employee Profit Sharing (PTU) 404 355 330 532 504 505 506 Other Expenses 483 348 234 466 489 449 463 Total Non Interest Expense 13,491 14,168 14,140 15,981 14,858 15,603 15,660 Operating Income 21,566 19,640 18,855 21,832 21,702 21,465 20,758 Subsidiaries' Net Income 408 390 456 470 360 584 421 Pre-Tax Income 21,974 20,030 19,311 22,303 22,062 22,049 21,179 Taxes 6,179 4,942 4,544 6,107 6,210 6,044 5,152 Discontinued Operations (299) (249) (1,549) (90) (179) (225) (143) Net income from continuing operations 15,496 14,839 13,219 16,106 15,673 15,780 15,883 Minority Interest 208 221 210 232 215 230 225 Net Income 15,288 14,618 13,008 15,874 15,458 15,550 15,658 Trading Financial Instruments Valuation - - - - - - - Financial Instruments to Collect and Sell Valuation 2,215 584 604 (747) (1,081) 914 (1,800) Result from valuation of instruments for cash flow hedging 1,670 440 163 (358) (316) 463 (1,057) Other Hedging Financial Instruments Valuation - - - - - - - Income and Expenses related to Assets Held for Disposal - - - - - - - Defined remeasurements for employees benefits 35 34 35 (1,049) 49 49 49 Cumulative translation adjustment (62) (260) (70) (39) (11) (71) (78) Res. for holding non-monetary assets - - - - - - - Participation in other comprehensive income of other entities - - - - - - - Result from valuation of reserve for unexpired risks variations in rates (183) (20) (116) 2 125 (135) 130 Comprehensive Income 3,675 778 615 (2,192) (1,234) 1,220 (2,755) Comprehensive Income 19,171 15,617 13,834 13,914 14,439 17,000 13,128 1Q25 2Q262Q25 3Q25 4Q25 1Q26 3Q26
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V. Financial Statements Third Quarter 2026 39 GFNorte -Consolidated Statement of Financial Position (Million Pesos) ASSETS Cash and Equivalents 136,906 139,682 97,537 100,295 90,150 92,633 108,400 Margin Accounts 3,569 4,165 3,781 3,989 4,545 4,618 4,107 Negotiable Instruments 409,632 423,023 437,769 436,130 435,082 410,266 424,038 Securities Available for Sale 187,613 178,873 165,534 199,502 223,413 235,238 232,626 Securities Held to Maturity 383,598 383,109 391,186 387,090 409,010 423,918 450,149 Investment in Securities 980,844 985,006 994,489 1,022,721 1,067,505 1,069,422 1,106,813 Estimate of Expected Credit Losses for Investments 74 72 69 1 1 1 1 Debtor Balance in Repo Trans, net 4,699 2,000 3,500 2,950 900 9,407 2,758 Securities Lending - - - - - - - For trading purposes 16,011 16,142 14,847 15,281 16,613 15,635 15,824 For hedging purposes 2,352 3,214 3,435 3,002 2,779 4,011 2,068 Transactions with Derivatives 18,364 19,356 18,282 18,283 19,392 19,646 17,892 Valuation adjustments for Asset Coverage - - - - - - - Commercial Loans 482,568 479,462 479,876 500,397 495,986 507,155 531,063 Loans to financial entities 37,496 43,551 43,961 48,645 44,579 44,401 53,817 Consumer Loans 207,633 216,574 226,682 235,614 244,172 252,452 258,970 Payroll Loans 81,876 84,236 87,006 88,198 92,173 95,837 96,943 Personal Loans 1,052 1,029 1,028 1,050 1,085 1,074 1,089 Credit Card 68,203 70,748 73,970 76,781 77,701 79,288 81,242 Auto Loans 56,502 60,562 64,677 69,585 73,213 76,253 79,696 Mortgage Loans 272,843 278,250 283,629 288,226 289,578 292,974 299,392 Medium and Residential 271,519 277,020 282,476 287,138 288,542 292,002 298,459 Low- income housing 1 1 0 0 0 0 0 Loans acquired from INFONAVIT or FOVISSSTE 1,323 1,229 1,152 1,087 1,036 971 933 Restruct. or improv. guaranteed by development banks or public trusts - - - - - - - Restruc. or improv. guaranteed by housing sub-account - - - - - - - Government Entities´ Loans 177,855 152,851 155,309 184,812 168,691 163,354 177,604 Performing Loans, Stage 1 1,178,394 1,170,688 1,189,456 1,257,692 1,243,006 1,260,336 1,320,846 Commercial Loans 2,354 2,069 2,234 3,258 3,756 4,060 3,252 Loans to financial entities 1 - 1 - - - 18 Consumer Loans 3,345 3,240 3,817 3,493 3,850 3,941 4,143 Payroll Loans 1,790 1,613 2,017 1,692 1,807 1,867 2,009 Personal Loans 40 35 37 42 57 44 40 Credit Card 1,040 1,122 1,195 1,142 1,364 1,358 1,326 Auto Loans 475 470 568 616 623 672 768 Mortgage Loans 3,707 4,318 4,174 4,180 4,595 4,751 4,958 Medium and Residential 3,629 4,237 4,096 4,118 4,530 4,695 4,910 Low- income housing - - - - - 0 - Loans acquired from INFONAVIT or FOVISSSTE 78 81 78 62 65 56 48 Restruct. or improv. guaranteed by development banks or public trusts - - - - - - - Restruc. or improv. guaranteed by housing sub-account - - - - - - - Government Entities´ Loans 312 277 181 204 185 105 115 Performing Loans, Stage 2 9,718 9,903 10,407 11,135 12,387 12,857 12,486 Commercial NPL´s 4,074 5,838 9,018 8,854 9,163 9,430 8,960 Financial Entities NPL´s 136 236 78 77 77 77 96 Consumer NPL´s 4,746 5,126 5,054 5,895 5,285 5,955 6,155 Payroll NPL´s 2,309 2,368 2,245 2,670 2,299 2,509 2,662 Personal NPL´s 73 64 43 52 66 71 59 Credit Card NPL´s 2,062 2,339 2,426 2,797 2,509 2,948 2,989 Auto NPL´s 302 354 340 375 412 426 445 Mortgage NPL´s 2,142 2,279 2,604 3,013 3,737 4,035 3,902 Medium and Residential 1,786 1,903 2,197 2,760 3,467 3,785 3,635 Low- income housing - - - - - - - Loans acquired from INFONAVIT or FOVISSSTE 356 376 406 252 270 250 267 Restruct. or improv. guaranteed by development banks or public trusts - - - - - - - Restruc. or improv. guaranteed by housing sub-account - - - - - - - Government Entities PDL´s 4 4 - - - - - Non-Performing Loans, Stage 3 11,102 13,484 16,754 17,839 18,262 19,497 19,114 Loan Portfolio Valued at Fair Value - - - - - - - Deferred Items 3,217 3,491 3,714 4,033 4,397 5,322 5,326 Loans from Insur. Subsidiaries 3,873 3,993 4,113 4,228 4,330 4,481 4,662 Deffered (BAP) - - - - - - - Gross Loan Portfolio 1,206,305 1,201,558 1,224,444 1,294,927 1,282,381 1,302,493 1,362,434 Preventive Loan Loss Reserves 20,537 21,045 23,820 23,755 25,177 25,821 26,754 Loan Loss-reserve for Insurance and Bail Bond Risks 321 330 336 342 346 352 361 Net from Reserves Loan Portfolio 1,185,447 1,180,184 1,200,288 1,270,830 1,256,858 1,276,320 1,335,318 Acquired Collection Rights (net) 835 808 740 796 758 682 645 Total Credit Portfolio 1,186,283 1,180,991 1,201,028 1,271,626 1,257,616 1,277,002 1,335,964 Account Receivables from Insurance and Annuities 16,821 13,159 9,319 6,321 11,294 13,364 10,531 Amounts recoverable by Reinsurance and Counter-guarantee 9,070 7,968 8,009 6,684 6,247 8,156 9,084 Account Receivables from Reinsurance - - - - - - - Benef. receivab. securization transactions - - - - - - - Sundry Debtors & Other Accs Rec, Net 82,358 59,448 59,932 45,049 63,115 58,581 78,149 Inventories 1,504 1,389 1,352 1,297 1,291 1,245 1,351 Foreclosed Assets, Net 4,635 4,508 4,844 4,647 4,596 4,914 5,049 Advanced Payments and Other Assets 11,817 11,650 12,137 13,950 11,833 11,924 11,931 Real Estate, Furniture & Equipment, Net 31,921 32,139 32,098 35,284 35,188 36,805 36,546 Rights of Use of Intangible Assets 4,107 4,077 4,305 4,525 4,451 4,444 4,538 Investment in Subsidiaries 14,662 14,986 15,421 15,758 14,590 15,168 15,589 Long-term assets held for sale - - 1,803 2,779 2,600 2,509 2,478 Deferred Income Tax Assets 2,720 2,244 1,938 3,437 1,885 1,551 4,751 Intangibles 14,522 13,879 11,913 11,590 11,199 10,755 10,127 Rights of Use of Intangible Assets - - - - - - - Goodwill 28,034 27,905 27,644 27,478 27,511 27,483 27,521 TOTAL ASSETS 2,552,759 2,524,481 2,509,263 2,598,663 2,635,909 2,669,627 2,793,578 4Q25 1Q26 2Q26 3Q261Q25 3Q252Q25
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V. Financial Statements Third Quarter 2026 40 GFNorte -Consolidated Statement of Financial Position (Million Pesos) LIABILITIES Demand Deposits 773,797 777,250 742,978 813,139 810,025 822,555 853,533 Time Deposits-Retail 357,965 366,572 377,700 383,432 387,384 390,411 417,152 Time Deposits-Money Market 6,121 5,203 1,841 5,841 6,304 3,983 3,831 Global Account of deposits without movements 4,205 4,332 4,440 4,538 4,594 4,719 4,816 Senior Unsecured Debt 35,226 35,075 34,797 35,057 35,112 29,918 29,910 Deposits 1,177,314 1,188,431 1,161,756 1,242,008 1,243,419 1,251,585 1,309,241 Due to Banks & Correspondents: - Demand Loans - - - - - - - Short Term Loans 23,854 25,894 23,644 27,099 26,889 23,812 25,758 Long Term Loans 11,722 7,878 7,709 10,230 9,799 11,262 9,049 Due to Banks & Correspondents 35,575 33,771 31,354 37,328 36,688 35,073 34,808 Technical Reserves 339,329 347,475 354,805 365,502 381,150 391,913 399,599 Non-assigned Securities for Settlement - - - - - - - Creditor Balance in Repo Trans, Net 430,144 452,201 451,561 454,145 451,450 485,947 490,537 Secs to be received in Repo Trans, Net - 0 - - - 0 - Collateral sold or pledged as collateral - Repos (Credit Balance) 78,182 56,691 51,706 64,773 57,911 34,010 50,513 Securities' Loans - 2 - - - 0 - Transactions with Derivatives - - - - - - - Other sold collateral - - - - - - - Total Collateral Sold 78,182 56,693 51,706 64,773 57,911 34,011 50,513 Derivatives - For trading purposes 14,694 9,414 7,775 8,283 9,748 9,367 12,576 For hedging purposes 1,055 356 39 13 45 87 1,134 Total Derivatives 15,749 9,770 7,814 8,296 9,793 9,454 13,710 Valuation adjustments for financial liability coverage - - - - - - - Obligations in securitization transactions - - (0) - - - - Payable Accountsfor Reinsurance 5,712 4,633 3,450 3,516 4,337 4,365 4,678 Lease Liabilities 4,266 4,234 4,508 4,717 4,831 4,835 4,970 Creditors for settlement of transactions 44,197 34,440 34,986 21,431 44,745 39,324 46,730 Margin Accounts Payable - - - - - - - Creditors for collateral received in cash 7,185 9,364 10,278 11,169 10,531 10,329 7,695 Contributions payable 3,593 3,358 3,328 4,551 4,253 3,894 4,180 Suppliers - - - - - - - Related Party - - - - - - - Other Creditors & Accounts Payable 42,194 32,315 36,322 29,720 30,886 31,675 40,999 Other Payable Accounts 97,169 79,477 84,913 66,871 90,415 85,222 99,604 Contributions for future capital increases pending formalization by its governing body - - - - - - - Subordinated Non Convertible Debt 85,199 78,116 76,269 74,984 74,673 96,482 99,604 Income Tax Liabilities 4,979 5,190 5,905 9,172 4,249 7,301 10,058 Employee benefit liability 11,760 11,725 13,016 13,885 11,296 11,409 12,450 Deferred Credits 1,244 1,357 1,261 1,253 1,264 1,235 1,198 TOTAL LIABILITIES 2,286,624 2,273,073 2,248,320 2,346,450 2,371,478 2,418,832 2,530,970 EQUITY Paid-in Capital 14,726 14,719 14,681 14,674 14,667 14,667 14,685 Provision for future capital increase not formalized by its governing entity - - - - - - - Share Subscription Premiums 47,978 48,390 48,143 42,141 41,869 42,374 41,961 Finan. instr. that qualify as capital - - - - - - - Subscribed Capital 62,704 63,109 62,823 56,814 56,536 57,041 56,645 Capital Reserves 22,713 32,398 30,425 30,081 29,545 29,415 30,137 Retained Earnings 168,740 129,081 127,637 106,548 163,969 133,229 131,738 Net Income 15,288 29,906 42,914 58,788 15,458 31,008 46,667 Comprehensive Income - Trading Financial Instruments Valuation - - - - - - - Financial Instruments to Collect and Sell Valuation (1,071) (487) 117 (584) (1,665) (752) (2,551) Result from valuation of instruments for cash flow hedging 804 1,243 1,406 1,048 731 1,195 138 Other Hedging Financial Instruments Valuatio - - - - - - - Income and expenses related to assets held for disposal - - - - - - - Defined remeasurements for employees benefits (2,770) (2,736) (2,701) (3,750) (3,701) (3,652) (3,603) Cumulative translation adjustment 403 143 73 34 24 (48) (125) Res. for holding non-monetary assets - - - - - - - Remeasurement by results in valuation of risk reserve in progress due to variation in discount rates 245 226 109 111 235 100 230 Participation in other comprehensive income of other entities - - - - - - - Earned Capital 204,352 189,774 199,981 192,276 204,596 190,496 202,630 Minority Interest (921) (1,475) (1,860) 3,123 3,299 3,258 3,332 Total Equity 266,135 251,407 260,944 252,213 264,431 250,795 262,608 TOTAL LIABILITIES & EQUITY 2,552,759 2,524,481 2,509,263 2,598,663 2,635,909 2,669,627 2,793,578 3Q261Q25 2Q25 3Q25 4Q25 1Q26 2Q26
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V. Financial Statements Third Quarter 2026 41 GFNorte - Memorandum Accounts (Million Pesos) On behalf of Third Parties Customer's Banks 14 35 141 18 26 31 27 Dividends Receivable from Customers - - - - - - - Interest Receivable from Customers - - - - - - - Settlement of Customer Transactions 87 127 126 1,282 (291) (58) (1,386) Customer Premiums - - - - - - - Settlement with Clients’ Foreign Currency - - - - - - - Margin Accounts in Futures’ Operations - - - - - - - Other Current Accounts - - - - - - - Customers’ Current Account 101 162 268 1,300 (265) (27) (1,359) Client Securities Received in Custody 1,118,811 1,174,467 1,240,551 1,237,750 1,318,549 1,332,956 1,329,084 Securities and Documents Received in Guarantee - - - - - - - Client Securities Abroad - - - - - - - Clients’ Securities 1,118,811 1,174,467 1,240,551 1,237,750 1,318,549 1,332,956 1,329,084 Clients’ Repurchase Operations 247,458 231,619 220,451 207,625 194,379 191,202 191,483 Clients’ Repo Transactions w/ Securities - - - - - - - Collateral received in guarantee for customer accounts 247,285 231,504 220,288 207,460 194,295 189,671 191,625 Collateral delivered in guarantee for customer accounts 106 - - - - 1,407 - Purchase of Futures & Forward Contracts, national - - - - - - - Sale of Futures and Forward Contracts, national - - - - - - - Clients’ Option Purchase Operations - - - - - - - Clients’ Option Sales Operations - - Purchase Operations of derivatives - - - - - - - Clients’ Sales Operations of derivatives - - - - - - - Trusts under Management 261 223 187 188 188 191 191 Siefores shares held by employees - - - - - - - Miscellaneous accounts - - - - - - - Transactions On Behalf of Clients 495,109 463,346 440,926 415,273 388,863 382,469 383,300 Investment Bank Trans. on behalf of Third (Net) 363,949 381,905 386,430 383,802 420,342 420,477 415,971 TOTAL ON BEHALF OF THIRD PARTIES 1,977,970 2,019,879 2,068,175 2,038,125 2,127,489 2,135,876 2,126,995 Endorsement Guarantees Granted - - - - - - - Loan Obligations 588,406 595,285 603,740 589,641 691,365 653,713 652,617 Trusts 345,496 351,246 348,901 357,833 366,679 369,750 356,416 Mandates 7,662 8,524 8,343 7,648 8,542 9,336 10,397 Properties in Trusts and Warrant 353,157 359,770 357,244 365,481 375,221 379,087 366,814 Properties in Custody or Management 756,449 789,242 828,024 844,455 877,449 894,989 943,643 Shares delivered in custody or as collateral 49,842 49,842 49,970 50,187 50,247 50,381 50,493 Collateral Received 245,996 228,149 231,668 249,168 243,705 240,774 254,325 Collateral Received or sold or delivered 78,218 56,699 51,691 64,768 57,918 34,007 50,520 Assets' Deposit 4,571 5,272 4,302 5,978 5,804 5,915 4,706 Contingent Assets & Liabilities 39 48 24 14 19 27 45 Uncollected Accrued Interest from Non-Performing Loans 464 518 558 642 726 805 847 Responsibilities for bonds in force (net) - - - - - - - Recovery guarantees for bonds issued - - - - - - - Complaints received pending verification - - - - - - - Contingent claims - - - - - - - Claims paid - - - - - - - Claims cancelled - - - - - - - Recovered claims - - - - - - - Siefores' shares, own position - - - - - - - Miscellaneous accounts 720,296 612,963 607,124 582,704 608,392 615,886 648,933 TOTAL PROPRIETARY 2,797,439 2,697,789 2,734,345 2,753,038 2,910,846 2,875,583 2,972,945 2Q26 3Q261Q25 2Q25 3Q25 4Q25 1Q26
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V. Financial Statements Third Quarter 2026 42 Operation activities Net income before taxes 65,291 Adjustments for items associated with investing activities 3,601 Depreciation in property, furniture, and equipment 3,612 Amortization of intangible assets 807 Participation in the net income of other entities (1,365) Discontinued operations 547 Adjustments for items associated with financing activities: 3,785 Interest associated with interbank loans and loans from other organizations 1,724 Interest associated with financial instruments that qualify as a liability 1,721 Interest on lease liabilities 340 Sum 7,386 Changes in operating items (49,310) Change in margin accounts (derivative financial instruments) (118) Change in investments in financial instruments (securities) (net) (86,060) Change in repo debtors (net) 192 Change in derivative financial instruments (asset) (543) Change in loan portfolio (net) (64,488) Change in acquired collection rights (net) 151 Change in debtors of insurance and bail-bond companies (4,210) Amounts recoverable by reinsurance and counter-guarantee (net) (2,400) Change in inventories (54) Change in other accounts receivable (net) (29,576) Change in foreclosed assets (net) (402) Change in traditional deposits 67,234 Change in technical reserves 34,097 Changes of interbank loans and other organizations (4,244) Change in creditors by repo 36,392 Change in collateral sold or given in guarantee (14,261) Change in derivative financial instruments (liability) 4,293 Change in accounts payable for reinsurance and reguarantee (liability) 1,162 Change in hedging derivative financial instruments (of hedged items related to operating activities) Change in assets/liabilities for employee benefits (1,435) Change in other accounts payable 33,484 Income tax payments (19,424) Net assets from discontinued operations (246) Net cash flows from operating activities 23,367 Investment activities Payments for the acquisition of property, furniture and equipment (5,565) Charges for disposal of property, furniture and equipment 857 Charges of dividends from permanent investments 1,430 Net cash flows from investing activities (3,278) Financial activities Lease liability payments (1,072) Payments associated with financial instruments that qualify as capital (4,322) Dividend payments (29,394) Payments associated with the repurchase of own shares (99) Collections for the issuance of financial instruments that qualify as liabilities 22,899 Net cash flows from financing activities (11,988) Net increase or decrease in cash and cash equivalents 8,101 Effects of changes in the value of cash and cash equivalents 4 Cash and cash equivalents at the beginning of the period 100,295 Cash and cash equivalents at the end of the period 108,400 1,146 GFNORTE - CONSOLIDATED STATEMENT OF CASH FLOWS JANUARY 1st, 2026 – SEPTEMBER 30th, 2026 (Million Pesos)
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V. Financial Statements Third Quarter 2026 43 Balance as of December 31st, 2025 14,674 42,140 30,081 165,336 (584) 1,048 (3,750) 110 35 249,090 3,123 252,213 CHANGES STEMMING FROM STOCKHOLDERS' DECISIONS 0 0 0 0 0 0 0 0 0 0 0 Repurchase of share-based payment plan liquidable in equity instruments 11 (333) 186 0 0 0 0 0 0 (136) 0 (136) Dividends Decreed by the Ordinary General Meeting of Shareholders on April 23rd, 2026 0 0 0 (29,394) 0 0 0 0 0 (29,394) 0 (29,394) Decrease of reserves for share buybacks 0 0 (130) 130 0 0 0 0 0 0 0 0 Total 11 (333) 56 (29,264) 0 0 0 0 0 (29,530) 0 (29,530) OTHER CHANGES STEMMING FROM STOCKHOLDERS' DECISIONS Effect of subsidiaries, associates, and investment companies 0 154 0 (13) 0 0 (1) 1 0 141 0 141 Interest on subordinated debt 0 0 0 (4,322) 0 0 0 0 0 (4,322) 0 (4,322) Total 0 154 0 (4,335) 0 0 (1) 1 0 (4,181) 0 (4,181) COMPREHENSIVE INCOME: Net Income 0 0 0 46,667 0 0 0 0 0 46,667 670 47,337 OTHER COMPREHENSIVE INCOME Financial instruments to collect or sell valuation 0 0 0 0 (1,967) 0 0 0 0 (1,967) 0 (1,967) Cumulative foreign currency translation adjustment 0 0 0 0 0 0 0 0 (160) (160) 0 (160) Cash flow hedges valuation 0 0 0 0 0 (910) 0 0 0 (910) 0 (910) Remeasurement by result in the valuation of the unexpired risk reserve due to variation in discount rates 0 0 0 0 0 0 0 119 0 119 0 119 Defined remeasurements for employees benefits 0 0 0 0 0 0 148 0 0 148 0 148 Total 0 0 0 46,667 (1,967) (910) 148 119 (160) 43,897 670 44,567 Minority Interest 0 0 0 0 0 0 0 0 0 0 (461) (461) Balance as of September 30th, 2026 14,685 41,961 30,137 178,404 (2,551) 138 (3,603) 230 (125) 259,276 3,332 262,608 Premium from Sale of Securities Capital Reserves Retained Earnings Financial instruments to Collect and Sell Valuation Cash Flow Hedges GFNORTE - CONSOLIDATED STATEMENT OF CHANGES IN EQUITY JANUARY 1st, 2026 – SEPTEMBER 30th, 2026 (Million Pesos) CONTRIBUTED CAPITAL EARNED CAPITAL Cumulative Foreign Currency Translation Adjustment Total Majority Interest Total Minority Interest Total Stockholders' Equity Remeasurement by result in the Valuation of the unexpired Risk reserve due to Variation in discount rates Fixed Paid-in Capital Remeasurement on Defined Employee Benefits
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V. Financial Statements Third Quarter 2026 44 Banorte Banorte-Consolidated Statement of Comprehensive Income (Million Pesos) Interest Income 95,886 93,628 86,469 81,121 76,742 81,462 80,995 Interest Expense 67,657 65,465 56,424 50,528 45,930 49,210 48,385 Net Interest Income (NII) 28,229 28,162 30,044 30,593 30,812 32,252 32,610 Credit Provisions 4,984 4,774 7,282 4,270 6,739 6,171 7,623 Net Interest Income Adjusted for Credit Risk 23,246 23,388 22,763 26,322 24,072 26,081 24,988 Fund Transfers 698 703 705 742 644 669 670 Account Management Fees 497 514 525 551 560 599 600 Electronic Banking Services 5,216 5,346 4,493 4,430 4,119 4,070 4,083 For Commercial and Government Loans 423 426 423 637 488 682 440 Consumer Loan Fees 2,217 2,429 2,529 2,902 2,855 2,965 3,032 Fiduciary & Mortgage Appraisals 114 130 133 131 116 128 129 Mutual Funds - - - - - - - Trading & Financial Advising Fees - - - - - - - Other Fees Charged 1,336 1,261 1,338 1,474 1,723 1,592 1,778 Fees Charged on Services 10,501 10,810 10,146 10,867 10,505 10,706 10,733 Interchange Fees 3,790 3,723 2,925 2,707 2,455 2,333 2,258 Other Fees Paid 1,520 1,764 1,868 1,717 1,941 1,899 2,122 Fees Paid on Services 5,311 5,487 4,793 4,424 4,396 4,233 4,380 Net Service Fees 5,190 5,323 5,352 6,443 6,109 6,473 6,353 Currency and Metals (1,265) (7,209) (1,832) (1,090) (335) (148) (59) Derivatives 2,407 5,698 12 (124) 460 (238) 217 Negotiable Instruments 517 (18) (35) (433) (244) 378 (276) Valuation 1,659 (1,529) (1,856) (1,648) (120) (7) (118) Currency and Metals (526) 2,626 2,197 2,271 734 680 707 Derivatives (41) (66) 305 (49) (62) (15) 238 Negotiable Instruments 94 262 647 728 86 256 (91) Trading (473) 2,822 3,150 2,950 758 921 854 Other financial results (308) (5) 10 78 (3) 155 0 Trading Income 878 1,288 1,303 1,379 636 1,069 736 Contributions to the IPAB (1,272) (1,278) (1,260) (1,297) (1,329) (1,343) (1,382) Expenses Incurred in the Recovery of Credit Portfolio (383) (389) (388) (435) (396) (414) (439) Acquired collection rights 134 162 142 138 112 111 164 Income from foreclosed assets 171 88 115 (45) 98 (185) 118 Donations (56) (32) (84) (49) (50) (87) (57) Impairment of Assets - - - - - - - Result on sale of Property, Furniture and Equipment (12) 6 4 1 0 1 0 Lease Income 0 0 0 0 0 0 0 Securitization Operation Valuation Result - - - - (0) - - Others 318 511 452 100 1,305 404 718 Total Other Operating Income (Expense) (1,100) (933) (1,020) (1,588) (259) (1,514) (877) Total Non Interest Income 4,968 5,678 5,636 6,235 6,485 6,028 6,212 Total Operating Income 28,214 29,066 28,399 32,557 30,557 32,109 31,199 Personnel 5,530 5,847 5,829 6,282 6,145 6,388 6,383 Professional Fees 896 998 1,005 1,253 950 1,253 1,133 Administrative and Promotional Expenses 1,731 1,715 1,932 1,774 1,840 1,822 1,934 Rents, Depreciation & Amortization 2,865 3,287 3,238 3,744 3,152 3,473 3,446 Various Taxes 671 689 631 796 796 713 783 Employee Profit Sharing (PTU) 377 328 303 503 471 471 471 Other Expenses 306 281 221 403 322 330 398 Total Non Interest Expense 12,377 13,145 13,159 14,755 13,677 14,451 14,548 Operating Income 15,837 15,921 15,240 17,802 16,881 17,658 16,652 Subsidiaries' Net Income 47 64 50 52 41 59 57 Pre-Tax Income 15,883 15,985 15,290 17,854 16,921 17,717 16,708 Taxes 4,641 3,984 3,809 5,243 4,878 4,996 4,123 Net Income from Continuous Operations 11,242 12,001 11,481 12,611 12,043 12,721 12,585 Discontinued Operations (10) (25) (31) 70 (129) (110) (54) Net income from continuing operations 11,233 11,976 11,451 12,681 11,914 12,611 12,531 Minority Interest 6 6 4 4 2 1 1 Net Income 11,227 11,969 11,447 12,677 11,912 12,610 12,531 Trading Financial Instruments Valuation - - - - - - - Financial Instruments to Collect and Sell Valuation 1,960 544 427 (500) (923) 750 (1,651) Result from valuation of instruments for cash flow hedging 1,700 447 166 (365) (322) 472 (1,075) Other Hedging Financial Instruments Valuation - - - - - - - Income and Expenses related to Assets Held for Disposal - - - - - Defined remeasurements for employees benefits 35 34 34 (1,071) 49 49 49 Cumulative translation adjustment (55) (232) (61) (32) (10) (62) (94) Res. for holding non-monetary assets - - - - - - - Participation in other comprehensive income of other entities - - - - - - - Result from valuation of reserve for unexpired risks variations in rates - - - - - - - Comprehensive Income 3,639 793 566 (1,967) (1,206) 1,209 (2,771) Comprehensive Income 14,872 12,769 12,017 10,714 10,708 13,820 9,760 3Q262Q25 3Q25 4Q25 1Q26 2Q261Q25
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V. Financial Statements Third Quarter 2026 45 Banorte -Consolidated Statement of Financial Position (Million Pesos) ASSETS Cash and Equivalents 136,348 138,945 96,825 99,275 89,094 91,608 107,524 Margin Accounts 3,569 4,165 3,781 3,989 4,545 4,618 4,107 Negotiable Instruments 130,465 147,221 169,807 176,255 174,738 163,930 166,776 Securities Available for Sale 148,979 146,133 133,509 162,843 188,697 198,296 191,462 Securities Held to Maturity 115,957 110,689 112,769 100,961 114,931 126,120 148,808 Investment in Securities 395,402 404,042 416,086 440,058 478,366 488,346 507,046 Estimate of Expected Credit Losses for Investments 74 71 69 1 1 1 1 Debtor Balance in Repo Trans, net 78,077 56,689 51,706 64,773 57,911 37,011 52,271 Securities Lending - - - - - - - For trading purposes 15,996 16,132 14,839 15,275 16,602 15,628 15,802 For hedging purposes 2,352 3,214 3,435 3,002 2,779 4,011 2,068 Transactions with Derivatives 18,348 19,346 18,274 18,277 19,381 19,639 17,871 Operations w/Derivatives & Securities 96,425 76,035 69,980 83,050 77,292 56,650 70,141 Valuation adjustments for Asset Coverage - - - - - - - Commercial Loans 438,001 435,411 436,851 454,444 452,824 462,873 486,109 Financial Intermediaries´ Loans 55,312 59,917 62,440 69,087 59,582 60,265 70,905 Consumer Loans 207,610 216,564 226,681 235,613 244,171 252,451 258,969 Payroll Loans 81,876 84,236 87,006 88,198 92,173 95,837 96,943 Personal Loans 1,031 1,020 1,028 1,050 1,085 1,074 1,089 Credit Card 68,202 70,748 73,970 76,781 77,701 79,288 81,242 Auto Loans 56,502 60,561 64,676 69,584 73,213 76,252 79,695 Mortgage Loans 272,843 278,250 283,629 288,226 289,578 292,974 299,392 Medium and Residential 271,519 277,020 282,476 287,138 288,542 292,002 298,459 Low- income housing 1 1 0 0 0 0 0 Loans acquired from INFONAVIT or FOVISSSTE 1,323 1,229 1,152 1,087 1,036 971 933 Restruct. or improv. guaranteed by development banks or public trusts - - - - - - - Restruc. or improv. guaranteed by housing sub-account - - - - - - - Government Entities´ Loans 176,452 150,897 151,526 178,463 164,849 161,876 174,545 Performing Loans, Stage 1 1,150,220 1,141,039 1,161,127 1,225,833 1,211,005 1,230,439 1,289,920 Commercial Loans 2,241 2,053 2,224 3,154 3,711 4,035 3,195 Financial Intermediaries´ Loans 1 - 1 - - - 18 Consumer Loans 3,340 3,238 3,817 3,493 3,850 3,941 4,143 Payroll Loans 1,790 1,613 2,017 1,692 1,807 1,867 2,009 Personal Loans 35 33 37 42 57 44 40 Credit Card 1,040 1,122 1,195 1,142 1,364 1,358 1,326 Auto Loans 475 470 568 616 623 672 768 Mortgage Loans 3,707 4,318 4,174 4,180 4,595 4,751 4,958 Medium and Residential 3,629 4,237 4,096 4,118 4,530 4,695 4,910 Low- income housing - - - - - 0 - Loans acquired from INFONAVIT or FOVISSSTE 78 81 78 62 65 56 48 Restruct. or improv. guaranteed by development banks or public trusts - - - - - - - Restruc. or improv. guaranteed by housing sub-account - - - - - - - Government Entities´ Loans - - - - - - - Performing Loans, Stage 2 9,289 9,609 10,216 10,827 12,156 12,726 12,314 Commercial NPL´s 3,552 5,265 8,586 8,373 8,477 8,951 8,631 Financial Intermediaries NPL´s 132 232 74 73 73 73 92 Consumer NPL´s 4,737 5,118 5,054 5,895 5,285 5,955 6,155 Payroll NPL´s 2,309 2,368 2,245 2,670 2,299 2,509 2,662 Personal NPL´s 64 57 43 52 66 71 59 Credit Card NPL´s 2,062 2,339 2,426 2,797 2,509 2,948 2,989 Auto NPL´s 302 354 340 375 412 426 445 Mortgage NPL´s 2,142 2,279 2,604 3,013 3,737 4,035 3,902 Medium and Residential 1,786 1,903 2,197 2,760 3,467 3,785 3,635 Low- income housing - - - - - - - Loans acquired from INFONAVIT or FOVISSSTE 356 376 406 252 270 250 267 Restruct. or improv. guaranteed by development banks or public trusts - - - - - - - Restruc. or improv. guaranteed by housing sub-account - - - - - - - Government Entities PDL´s - - - - - - - Non-Perfoming Loans, Stage 3 10,563 12,895 16,317 17,354 17,572 19,013 18,780 Loan Portfolio Valued at Fair Value - - - - - - - Deferred Items 3,267 3,525 3,736 4,038 4,419 5,343 5,348 Gross Loan Portfolio 1,173,338 1,167,067 1,191,396 1,258,051 1,245,152 1,267,521 1,326,362 Preventive Loan Loss Reserves 20,067 20,553 23,456 23,339 24,584 25,322 26,366 Net Loan Portfolio 1,153,271 1,146,514 1,167,939 1,234,712 1,220,567 1,242,199 1,299,996 Acquired Collection Rights (net) 835 808 740 796 758 682 645 Total Credit Portfolio 1,154,106 1,147,322 1,168,680 1,235,508 1,221,325 1,242,881 1,300,642 Benef. receivab. securization transactions - - - - - - - Sundry Debtors & Other Accs Rec, Net 66,659 53,670 51,134 39,003 55,090 43,752 72,097 Inventories - - - - - - - Foreclosed Assets, Net 4,568 4,440 4,784 4,562 4,515 4,677 4,814 Advanced Payments and Other Assets 5,345 4,690 4,433 5,452 5,922 6,323 5,750 Real Estate, Furniture & Equipment, Net 26,887 27,000 27,088 28,285 28,374 28,666 29,109 Rights of Use of Intangible Assets 4,032 4,012 4,245 4,245 4,187 4,198 4,326 Investment in Subsidiaries 1,468 1,465 1,494 1,410 1,439 1,492 1,549 Long-term assets held for sale - - 43 668 479 368 314 Deferred Income Tax Assets 1,435 983 1,015 2,568 841 452 3,674 Intangibles 10,863 10,190 9,833 9,526 9,112 8,617 8,096 Rights of Use of Intangible Assets - - - - - - - Goodwill 2,706 2,577 2,316 2,149 2,183 2,154 2,192 TOTAL ASSETS 1,909,740 1,879,465 1,861,668 1,959,747 1,982,762 1,984,803 2,121,381 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26
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V. Financial Statements Third Quarter 2026 46 Banorte -Consolidated Statement of Financial Position (Million Pesos) LIABILITIES Demand Deposits 791,335 787,335 754,339 829,505 822,291 826,641 866,132 Time Deposits-Retail 358,005 366,582 377,710 383,462 387,394 390,422 417,420 Time Deposits-Money Market 6,121 5,203 1,841 5,841 6,304 3,983 3,831 Global Account of deposits without movements 4,205 4,332 4,440 4,538 4,594 4,719 4,816 Senior Unsecured Debt 37,236 37,087 34,797 35,057 40,126 29,918 29,910 Deposits 1,196,902 1,200,539 1,173,126 1,258,403 1,260,708 1,255,682 1,322,109 Due to Banks & Correspondents: - Demand Loans 1,511 1,183 - - - - - Short Term Loans 3,551 3,037 2,645 2,664 2,596 2,881 3,457 Long Term Loans 7,599 4,386 4,700 5,458 5,254 5,692 4,393 Due to Banks & Other Correspondents 12,661 8,606 7,345 8,122 7,850 8,573 7,851 Technical Reserves - - - - - - - Non-assigned Securities for Settlement - - - - - - - Creditor Balance in Repo Trans, Net 268,980 283,496 288,712 316,612 320,101 340,610 354,249 Secs to be received in Repo Trans, Net - - - - - - - Collateral sold or pledged as collateral: - Repos (Credit Balance) 78,077 56,691 51,706 64,773 57,911 32,604 50,513 Securities' Loans - - - - - - - Transactions with Derivatives - - - - - - - Other sold collateral - - - - - - - Total Collateral sold 78,077 56,691 51,706 64,773 57,911 32,604 50,513 Derivatives - For trading purposes 14,794 9,519 7,879 8,385 9,844 9,463 12,653 For hedging purposes 1,055 356 39 13 45 87 1,134 Total Derivatives 15,848 9,874 7,919 8,398 9,889 9,551 13,788 Valuation adjustments for financial liability coverage - - - - - - - Obligations in securitization transactions - - (0) - - - - Payable Accountsfor Reinsurance - - - - - - - Lease Liabilities 4,188 4,163 4,443 4,429 4,558 4,579 4,746 Creditors for settlement of transactions 32,346 32,327 29,984 19,659 38,405 27,408 41,791 Margin Accounts Payable - - - - - - - Creditors for collateral received in cash 7,185 9,364 10,278 11,169 10,531 10,329 7,695 Contributions payable 1,897 1,912 2,058 1,997 1,935 2,375 2,679 Suppliers - - - - - - - Related Party - - - - - - - Other Creditors & Accounts Payable 30,210 21,583 25,556 20,466 20,941 20,280 33,339 Other Payable Accounts 71,638 65,186 67,876 53,291 71,811 60,392 85,505 Contributions for future capital increases pending formalization by its governing body - - - - - - - Subordinated Non Convertible Debt 85,199 78,116 76,269 74,984 74,673 96,482 99,604 Income Tax Liabilities 3,497 2,973 3,116 5,617 2,813 5,020 7,123 Employee benefit liability 10,757 10,710 11,919 12,704 10,317 10,349 11,296 Deferred Credits 1,061 1,150 1,016 985 996 1,018 994 TOTAL LIABILITIES 1,748,807 1,721,504 1,693,447 1,808,318 1,821,627 1,824,859 1,957,776 EQUITY Paid-in Capital 18,795 18,795 18,795 18,795 18,795 18,795 18,795 Provision for future capital increase not formalized by its governing entity - - - - - - - Share Subscription Premiums 5,996 6,300 6,593 475 853 1,217 1,759 Finan. instr. that qualify as capital - - - - - - - Subscribed Capital 24,791 25,094 25,388 19,270 19,647 20,011 20,554 Capital Reserves 18,959 18,959 18,959 18,959 18,959 18,959 18,959 Retained Earnings 112,309 96,762 95,293 68,545 114,487 99,114 92,468 Net Income 11,227 23,196 34,643 47,320 11,912 24,522 37,052 Comprehensive Income - Trading Financial Instruments Valuation - - - - - - - Financial Instruments to Collect and Sell Valuation (552) (8) 422 (78) (1,001) (249) (1,900) Result from valuation of instruments for cash flow hedging 816 1,264 1,429 1,065 743 1,215 139 Other Hedging Financial Instruments Valuation - - - - - - - Income and expenses related to assets held for disposal - - - - - - - Defined remeasurements for employees benefits (2,814) (2,780) (2,746) (3,817) (3,767) (3,718) (3,669) Cumulative translation adjustment 293 61 0 (31) (41) (103) (197) Res. for holding non-monetary assets - - - - - - - Remeasurement by results in valuation of risk reserve in progress due to variation in discount rates - - - - - - - Participation in other comprehensive income of other entities - - - - - - - Earned Capital 140,238 137,455 148,002 131,964 141,291 139,739 142,853 Minority Interest (4,095) (4,587) (5,169) 195 197 193 198 Total Equity 160,933 157,961 168,221 151,429 161,136 159,944 163,605 TOTAL LIABILITIES & EQUITY 1,909,740 1,879,465 1,861,668 1,959,747 1,982,762 1,984,803 2,121,381 1Q25 3Q262Q25 3Q25 4Q25 1Q26 2Q26
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V. Financial Statements Third Quarter 2026 47 Banorte - Memorandum Accounts (Million Pesos) Investment Banking transactions for third parties, net - - - - - - - TOTAL ON BEHALF OF THIRD PARTIES - - - - - - - Endorsement Guarantees Granted - - - - - - - Loan Obligations 525,736 536,485 534,921 521,526 620,426 576,908 578,357 Trusts 345,496 351,246 348,901 357,833 366,679 369,750 356,416 Mandates 7,662 8,524 8,343 7,648 8,542 9,336 10,397 Properties in Trusts and Warrant 353,157 359,770 357,244 365,481 375,221 379,087 366,814 Properties in Custody or Management 725,476 752,754 769,089 766,011 806,259 809,223 829,855 Shares delivered in custody or as collateral - - - - - - - Collateral Received 233,283 219,924 222,265 240,900 237,685 225,320 248,624 Collateral Received or sold or delivered 78,112 56,699 51,691 64,768 57,918 32,600 50,520 Deposits of assets - - - - - - - Contingent assets & liabilites 39 48 24 14 19 27 45 Uncollected Accrued Interest from Non-Performing Loans 428 479 515 597 678 752 791 Liabilities for active bonds (net) - - - - - - - Recovery guarantees for issued bonds - - - - - - - Complaints received pending verification - - - - - - - Contingent claims - - - - - - - Claims paid - - - - - - - Claims cancelled - - - - - - - Recovered claims - - - - - - - Miscellaneous accounts 658,267 543,176 542,606 514,347 544,150 550,816 579,477 TOTAL PROPRIETARY 2,574,499 2,469,335 2,478,354 2,473,645 2,642,355 2,574,733 2,654,484 1Q25 3Q262Q25 3Q25 4Q25 1Q26 2Q26
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V. Financial Statements Third Quarter 2026 48 Operation activities Net income before taxes 51,347 Adjustments for items associated with investing activities 4,169 Depreciation in property, furniture, and equipment 3,360 Amortization of intangible assets 672 Participation in the net income of other entities (157) Discontinued operations 294 Adjustments for items associated with financing activities: 2,580 Interest associated with interbank loans and loans from other organizations 445 Interest associated with financial instruments that qualify as a liability 1,810 Interest on lease liabilities 325 Sum 6,749 Changes in operating items (44,322) Change in margin accounts (derivative financial instruments) (118) Change in investments in financial instruments (securities) (net) (68,812) Change in repo debtors (net) 12,503 Change in derivative financial instruments (asset) (528) Change in loan portfolio (net) (65,285) Change in acquired collection rights (net) 151 Change in other accounts receivable (net) (32,845) Change in foreclosed assets (net) (252) Change in other operating assets (net) 1,089 Change in traditional deposits 63,706 Changes of interbank loans and other organizations (717) Change in creditors by repo 37,636 Change in collateral sold or given in guarantee (14,261) Change in derivative financial instruments (liability) 4,269 Change in other operating liabilities 8 Change in hedging derivative financial instruments (of hedged items related to operating activities) Change in assets/liabilities for employee benefits (1,407) Change in other accounts payable 32,621 Income tax payments (13,211) Net cash flows from operating activities 13,774 Investment activities Payments for the acquisition of property, furniture and equipment (5,416) Charges for the disposal of property, furniture, and equipment 1,533 Charges of dividends from permanent investments 5 Net cash flows from investing activities (3,878) Financial activities Lease liability payments (1,062) Payments associated with financial instruments that qualify as capital (4,399) Dividend payments (19,000) Collections for the issuance of financial instruments that qualify as liabilities 22,810 Net cash flows from financing activities (1,651) Net increase or decrease in cash and cash equivalents 8,245 Effects of changes in the value of cash and cash equivalents 4 Cash and cash equivalents at the beginning of the period 99,275 Cash and cash equivalents at the end of the period 107,524 BANORTE - CONSOLIDATED STATEMENT OF CASH FLOWS JANUARY 1st, 2026 – SEPTEMBER 30th, 2026 (Million Pesos) 1,131
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V. Financial Statements Third Quarter 2026 49 Balance as of December 31st, 2025 18,795 475 18,959 115,865 (77) 1,065 (3,817) (31) 151,234 195 151,429 CHANGES STEMMING FROM STOCKHOLDERS' DECISIONS 0 0 0 0 0 0 0 0 0 0 0 Plan based on shares payable in equity instruments 0 1,111 0 0 0 0 0 0 1,111 0 1,111 Dividends Decreed by the Ordinary General Meeting of Shareholders on April 23rd, 2026 and July 20th, 2026 0 0 0 (19,000) 0 0 0 0 (19,000) 0 (19,000) Total 0 1,111 0 (19,000) 0 0 0 0 (17,889) 0 (17,889) OTHER CHANGES STEMMING FROM STOCKHOLDERS' DECISIONS Interest on subordinated debt 0 0 0 (4,399) 0 0 0 0 (4,399) 0 (4,399) Effect of subsidiaries, associates, and investment companies 0 173 0 2 1 0 0 0 176 0 176 Total 0 173 0 (4,397) 1 0 0 0 (4,223) 0 (4,223) COMPREHENSIVE INCOME Net Income 0 0 0 37,052 0 0 0 0 37,052 4 37,056 OTHER COMPREHENSIVE INCOME Financial instruments to collect or sell valuation 0 0 0 0 (1,823) 0 0 0 (1,823) 0 (1,823) Cumulative foreign currency translation adjustment 0 0 0 0 0 0 0 (166) (166) 0 (166) Cash flow hedges valuation 0 0 0 0 0 (926) 0 0 (926) 0 (926) Defined remeasurements for employees' benefits 0 0 0 0 0 0 148 0 148 0 148 Total 0 0 0 37,052 (1,823) (926) 148 (166) 34,285 4 34,289 Minority Interest 0 0 0 0 0 0 0 0 0 (1) (1) Balance as of September 30th, 2026 18,795 1,759 18,959 129,520 (1,899) 139 (3,669) (197) 163,407 198 163,605 Capital Reserves Total Stockholders' Equity Financial instruments to Collect or Sell Valuation Results from Cash Flow Hedges Remeasurement on Defined Employee Benefit Cumulative Foreign Currency Translation Adjustment Total Majority Interest Minority Interest Fixed Paid-in Capital Premium from Sale of Securities CONTRIBUTED CAPITAL EARNED CAPITAL Retained Earnings (Million Pesos) BANORTE - CONSOLIDATED STATEMENT OF CHANGES IN EQUITY JANUARY 1st, 2026 – SEPTEMBER 30th, 2026
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V. Financial Statements Third Quarter 2026 50 Seguros Banorte Income Statement- Seguros Banorte (Million Pesos) Interest Income 1,003 881 792 903 894 790 910 Interest Expense 2 2 1 5 10 98 49 Monetary Positions Net Interest Income - - - - - - - Net Interest Income (NII) 1,002 880 791 898 884 692 861 Preventive Provisions for Loan Losses (0) 0 (0) - - - - Net Interest Income 1,002 880 791 898 884 692 861 Fees Charged on Services - - - - - - - Fees Paid on Services - - - - - - - Premium Revenue (Net) 18,311 10,685 9,729 12,930 17,516 13,384 10,484 Net increase in technical reserves 9,658 4,345 3,260 5,547 8,936 5,650 2,952 Net Cost for Insurance and Bond Operations 1,993 1,169 1,321 1,928 2,484 1,680 1,746 Net Cost of Claims and Other Obligations 4,635 4,859 5,030 6,191 4,715 6,096 5,441 Trading Income 937 851 1,162 534 878 1,205 736 Total Other Operating Income (Expenses) 151 142 169 1,620 289 296 275 Total Non-Interest Income 3,113 1,305 1,448 1,418 2,548 1,460 1,358 Total Operating Income 4,115 2,184 2,239 2,316 3,431 2,152 2,219 Personnel 128 140 127 137 139 137 133 Professional Fees 60 87 81 100 78 81 66 Administrative and Promotional 40 39 57 63 44 44 59 Rents, Depreciation & Amortization 49 47 47 49 47 45 54 Various Taxes 42 32 39 33 44 37 35 Employee Profit Sharing (PTU) 14 14 15 16 15 15 17 Other expenses 210 118 72 92 167 134 128 Total Non-Interest Expense 543 477 438 490 534 494 492 Operating Income 3,571 1,707 1,801 1,826 2,898 1,658 1,727 Subsidiaries' Net Income 359 324 401 416 318 524 364 Pre-Tax Income 3,930 2,032 2,202 2,242 3,216 2,182 2,091 Taxes 960 456 380 249 809 460 510 Net Income from Continuous Operations 2,970 1,576 1,821 1,993 2,408 1,722 1,581 Discontinued Operations - - - - - - - Net income from continuing operations 2,970 1,576 1,821 1,993 2,408 1,722 1,581 Minority Interest 9 8 9 7 8 11 10 Net Income 2,961 1,567 1,812 1,987 2,400 1,711 1,571 Trading Financial Instruments Valuation - - - - - - - Financial Instruments to Collect and Sell Valuation 165 41 137 0 (93) 141 (168) Result from valuation of instruments for cash flow hedging - - - - - - - Other Hedging Financial Instruments Valuation - - - - - - - Income and Expenses related to Assets Held for Disposal - - - - - - - Defined remeasurements for employees benefits 1 1 1 (4) 1 1 1 Cumulative translation adjustment - - - - - - - Res. for holding non-monetary assets - - - - - - - Participation in other comprehensive income of other entities - - - - - - - Result from valuation of reserve for unexpired risks variations in rates (183) (20) (116) 2 125 (135) 130 Comprehensive Income (18) 22 21 (2) 32 7 (37) Comprehensive Income 2,952 1,598 1,843 1,991 2,440 1,729 1,544 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26
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V. Financial Statements Third Quarter 2026 51 Seguros Banorte - Balance Sheet (Million Pesos) ASSETS Cash and Equivalents 237 261 1,663 1,585 3,629 466 1,611 Margin Accounts - - - - - - - Negotiable Instruments 56,839 63,355 66,354 74,474 83,933 79,025 87,701 Securities Available for Sale 7,493 7,187 7,709 8,283 9,164 8,763 8,944 Securities Held to Maturity (0) (0) (0) (0) (0) (0) - Investment in Securities 64,332 70,543 74,064 82,756 93,096 87,788 96,644 Estimate of Expected Credit Losses for Investments - - - - - - - Debtor Balance in Repo Trans, net 9,862 5,587 7,408 7,360 4,858 9,712 5,481 Securities Lending - - - - - - - For trading purposes - - - - - - - For hedging purposes - - - - - - - Transactions with Derivatives - - - - - - - Operations w/Derivatives & Securities 9,862 5,587 7,408 7,360 4,858 9,712 5,481 Valuation adjustments for Asset Coverage - - - - - - - Insurance and Bail Bond portfolio 40 40 37 39 37 39 44 Deferred Items (BAP) - - - - - - - Total Loan Portfolio 40 40 37 39 37 39 44 Loan Loss-reserve for Insurance and Bail Bond Risks 0 0 0 0 0 0 0 Loan Portafolio, net 40 40 37 38 37 38 44 Net from Reserves Loan Portfolio 40 40 37 38 37 38 44 Acquired Collection Rights (net) - - - - - - - Total Credit Portfolio 40 40 37 38 37 38 44 Account Receivables from Insurance and Annuities 16,556 13,018 9,099 6,127 11,150 13,055 10,171 Amounts recoverable by Reinsurance and Counter-guarantee 9,070 7,968 8,009 6,684 6,247 8,156 9,084 Account Receivables from Reinsurance - - - - - - - Benef. receivab. securization transactions - - - - - - - Sundry Debtors & Other Accs Rec, Net 675 393 346 506 631 414 291 Inventories - - - - - - - Foreclosed Assets, Net - - - - - - - Advance Payments and Other Assets 1,055 1,471 1,993 2,503 822 1,269 1,586 Real Estate, Furniture & Equipment, Net 285 292 292 344 335 356 363 Assets for Rights of Use of Property, furniture and equipment 71 55 43 233 218 203 174 Investment in Subsidiaries 13,009 13,333 13,735 14,151 13,044 13,567 13,930 Deferred Income Tax Assets 794 794 794 792 792 792 792 Intangibles 1,668 1,686 1,711 1,722 1,742 1,762 1,648 Rights of Use of Intangible Assets - - - - - - - Goodwill - - - - - - - TOTAL ASSETS 117,653 115,442 119,192 124,802 136,601 137,579 141,819 4Q25 1Q26 2Q26 3Q261Q25 2Q25 3Q25
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V. Financial Statements Third Quarter 2026 52 Seguros Banorte - Balance Sheet (Million Pesos) LIABILITIES Technical Reserves 74,555 78,017 81,198 84,860 93,749 101,043 103,170 Non-assigned Securities for Settlement - - - - - - - Total Derivatives - - - - - - - Valuation adjustments for financial liability coverage - - - - - - - Obligations in securitization transactions - - - - - - - Payable Accountsfor Reinsurance 5,712 4,633 3,450 3,516 4,337 4,365 4,678 Lease Liabilities 74 58 45 238 225 211 183 Creditors for settlement of transactions - - - - - - - Margin Accounts Payable - - - - - - - Creditors for collateral received in cash - - - - - - - Contributions payable 1,520 1,253 1,065 2,117 2,086 1,287 1,275 Suppliers - - - - - - - Related Party - - - - - - - Other Creditors & Accounts Payable 4,705 4,503 4,230 2,826 3,793 3,561 3,434 Other Payable Accounts 6,224 5,756 5,294 4,943 5,879 4,848 4,709 Contributions for future capital increases pending formalization by its governing body - - - - - - - Subordinated Non Convertible Debt - - - - - - - Income Tax Liabilities 1,262 1,718 2,098 2,341 1,057 1,515 1,997 Employee benefit liability 216 224 233 237 245 255 199 Deferred Credits 60 68 64 71 72 73 71 TOTAL LIABILITIES 88,104 90,475 92,383 96,205 105,564 112,310 115,007 EQUITY Paid-in Capital 13,928 13,928 13,928 13,928 13,928 13,928 13,928 Provision for future capital increase not formalized by its governing entity - - - - - - - Share Subscription Premiums - - - - - - - Finan. instr. that qualify as capital - - - - - - - Subscribed Capital 13,928 13,928 13,928 13,928 13,928 13,928 13,928 Capital Reserves 5,278 5,966 5,966 5,966 5,966 6,802 6,802 Retained Earnings 7,170 327 327 126 8,453 148 148 Net Income 2,961 4,528 6,341 8,327 2,400 4,111 5,682 Comprehensive Income: - Trading Financial Instruments Valuation - - - - - - - Financial Instruments to Collect and Sell Valuation (329) (288) (151) (151) (244) (103) (271) Result from valuation of instruments for cash flow hedging - - - - - - - Other Hedging Financial Instruments Valuation - - - - - - - Income and expenses related to assets held for disposal - - - - - - - Defined remeasurements for employees benefits (19) (19) (18) (22) (21) (21) (20) Cumulative translation adjustment - - - - - - - Res. for holding non-monetary assets - - - - - - - Remeasurement by results in valuation of risk reserve in progress due to variation in discount rates 247 227 111 113 237 102 232 Participation in other comprehensive income of other entities - - - - - - - Earned Capital 15,307 10,742 12,576 14,359 16,791 11,040 12,573 Minority Interest 314 297 306 310 318 301 311 Total Equity 29,548 24,967 26,810 28,597 31,036 25,269 26,812 TOTAL LIABILITIES & EQUITY 117,653 115,442 119,192 124,802 136,601 137,579 141,819 4Q25 1Q26 2Q26 3Q261Q25 2Q25 3Q25
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V. Financial Statements Third Quarter 2026 53 Bineo Bineo’s operations were reclassified as a Discontinued item in the Income Statement and as a Long -term asset held for sale in the Balance Sheet. Therefore, the financial results and accounts presented in this section refer exclusively to Bineo and are no longer consolidated within the Group’s figures. Bineo-Statement of Comprehensive Income (Million Pesos) Interest Income 37 30 19 17 18 16 16 Interest Expense 0 0 0 0 0 0 0 Net Interest Income (NII) 37 30 19 17 17 16 16 Credit Provisions 8 5 3 1 0 0 0 Net Interest Income Adjusted for Credit Risk 29 25 16 16 17 16 16 Fund Transfers - - - - - - - Account Management Fees 0 0 0 0 0 0 0 Electronic Banking Services - - - - - - - For Commercial and Government Loans - - - - - - - Consumer Loan Fees 0 0 0 0 0 0 0 Fiduciary & Mortgage Appraisals - - - - - - - Mutual Funds - - - - - - - Trading & Financial Advising Fees - - - - - - - Other Fees Charged (0) (0) (0) 0 0 0 0 Fees Charged on Services 0 0 0 0 0 0 0 Interchange Fees - - - - - 0 0 Other Fees Paid 3 3 3 2 2 2 2 Fees Paid on Services 3 3 3 2 2 2 2 Net Service Fees (3) (3) (2) (2) (2) (2) (2) Currency and Metals 0 (0) (0) 0 (0) (0) (0) Derivatives - - - - - - - Negotiable Instruments - - - - - - - Valuation 0 (0) (0) 0 (0) (0) (0) Currency and Metals - - - - - - - Derivatives - - - - - - - Negotiable Instruments - - - - - - - Trading - - - - - - - Other financial results - - - - - - - Trading Income 0 (0) (0) 0 (0) (0) (0) Contributions to the IPAB - - (0) (0) (0) (0) (0) Expenses Incurred in the Recovery of Credit Portfolio - - - - - - - Acquired collection rights - - - - - - - Income from foreclosed assets - - - - - - - Donations - - - - - - - Impairment of Assets - - - - - - - Result on sale of Property, Furniture and Equipment - - - - - - - Lease Income - - - - - - - Securitization Operation Valuation Result - - - - - - - Others 1 (1) 1 0 4 2 0 Total Other Operating Income (Expense) 1 (1) 1 0 4 2 0 Total Non Interest Income (2) (4) (2) (2) 2 0 (2) Total Operating Income 27 21 14 15 19 16 14 Personnel 111 42 20 20 26 31 34 Professional Fees 70 49 47 37 63 (36) 13 Administrative and Promotional Expenses 6 6 3 5 1 3 4 Rents, Depreciation & Amortization 81 130 128 106 109 191 93 Various Taxes 22 22 24 14 19 16 11 Employee Profit Sharing (PTU) - - - - - - - Other Expenses 18 5 4 4 6 3 3 Total Non Interest Expense 309 255 226 185 226 208 158 Operating Income (282) (234) (211) (171) (206) (192) (144) Subsidiaries' Net Income - - - - - - - Pre-Tax Income (282) (234) (211) (171) (206) (192) (144) Taxes 7 (10) 0 2 (22) 6 11 Net Income from Continuos Operations (289) (224) (212) (172) (184) (198) (154) Discontinued Operations - - - - - - - Net income from continuing operations (289) (224) (212) (172) (184) (198) (154) Minority Interest - - - - - - - Net Income (289) (224) (212) (172) (184) (198) (154) Trading Financial Instruments Valuation - - - - - - - Financial Instruments to Collect and Sell Valuation - - - - - - - Result from valuation of instruments for cash flow hedging - - - - - - - Other Hedging Financial Instruments Valuation - - - - - - - Income and Expenses related to Assets Held for Disposal - - - - - - - Defined remeasurements for employees benefits (0) (0) - 0 (0) (0) (0) Cumulative translation adjustment - - - - - - - Res. for holding non-monetary assets - - - - - - - Participation in other comprehensive income of other entities - - - - - - - Result from valuation of reserve for unexpired risks variations in rates - - - - - - - Comprehensive Income (0) (0) - 0 (0) (0) (0) Comprehensive Income (289) (224) (212) (172) (184) (198) (154) 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26
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V. Financial Statements Third Quarter 2026 54 Bineo -Statement of Financial Position (Million Pesos) ASSETS Cash and Equivalents 1,523 1,195 1,033 1,132 1,140 1,116 1,098 Margin Accounts - - - - - - - Negotiable Instruments - - - - - - - Securities Available for Sale - - - - - - - Securities Held to Maturity - - - - - - - Investment in Securities - - - - - - - Estimate of Expected Credit Losses for Investments - - - - - - - Debtor Balance in Repo Trans, net - - - - - - - Securities Lending - - - - - - - For trading purposes - - - - - - - For hedging purposes - - - - - - - Transactions with Derivatives - - - - - - - Operations w/Derivatives & Securities - - - - - - - Valuation adjustments for Asset Coverage - - - - - - - Commercial Loans - - - - - - - Financial Intermediaries´ Loans - - - - - - - Consumer Loans 22 9 4 2 1 0 0 Payroll Loans - - - - - - - Personal Loans 22 9 4 2 1 0 0 Credit Card 0 - - - - - - Auto Loans - - - - - - - Mortgage Loans - - - - - - - Medium and Residential - - - - - - - Low- income housing - - - - - - - Loans acquired from INFONAVIT or FOVISSSTE - - - - - - - Restruct. or improv. guaranteed by development banks or public trusts - - - - - - - Restruc. or improv. guaranteed by housing sub-account - - - - - - - Government Entities´ Loans - - - - - - - Performing Loans, Stage 1 22 9 4 2 1 0 0 Commercial Loans - - - - - - - Financial Intermediaries´ Loans - - - - - - - Consumer Loans 5 2 0 0 0 0 - Payroll Loans - - - - - - - Personal Loans 5 2 0 0 0 0 - Credit Card - - - - - - - Auto Loans - - - - - - - Mortgage Loans - - - - - - - Medium and Residential - - - - - - - Low- income housing - - - - - - - Loans acquired from INFONAVIT or FOVISSSTE - - - - - - - Restruct. or improv. guaranteed by development banks or public trusts - - - - - - - Restruc. or improv. guaranteed by housing sub-account - - - - - - - Government Entities´ Loans - - - - - - - Performing Loans, Stage 2 5 2 0 0 0 0 - Commercial NPL´s - - - - - - - Financial Intermediaries NPL´s - - - - - - - Consumer NPL´s 9 7 2 1 0 0 0 Payroll NPL´s - - - - - - - Personal NPL´s 9 7 2 1 0 0 0 Credit Card NPL´s - - - - - - - Auto NPL´s - - - - - - - Mortgage NPL´s - - - - - - - Medium and Residential - - - - - - - Low- income housing - - - - - - - Loans acquired from INFONAVIT or FOVISSSTE - - - - - - - Restruct. or improv. guaranteed by development banks or public trusts - - - - - - - Restruc. or improv. guaranteed by housing sub-account - - - - - - - Government Entities PDL´s - - - - - - - Non-Perfoming Loans, Stage 3 9 7 2 1 0 0 0 Loan Portfolio Valued at Fair Value - - - - - - - Deferred Items - - - - - - - Gross Loan Portfolio 36 19 7 2 1 0 0 Preventive Loan Loss Reserves 11 7 2 1 0 0 0 Net Loan Portfolio 25 11 4 2 1 0 0 Acquired Collection Rights (net) - - - - - - - Total Credit Portfolio 25 11 4 2 1 0 0 Benef. receivab. securization transactions - - - - - - - Sundry Debtors & Other Accs Rec, Net 40 28 31 31 34 34 34 Inventories - - - - - - - Foreclosed Assets, Net - - - - - - - Advanced Payments and Other Assets 88 4 45 28 11 0 0 Real Estate, Furniture & Equipment, Net 6 5 4 4 3 3 2 Rights of Use of Intangible Assets - - - - - - - Investment in Subsidiaries - - - - - - - Long-term assets held for sale - - - - - - - Deferred Income Tax Assets 390 400 399 398 420 413 403 Intangibles 1,626 1,619 1,629 1,587 1,545 1,503 1,460 Rights of Use of Intangible Assets - - - - - - - Goodwill - - - - - - - TOTAL ASSETS 3,698 3,263 3,147 3,181 3,154 3,070 2,998 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26
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V. Financial Statements Third Quarter 2026 55 Bineo -Statement of Financial Position (Million Pesos) LIABILITIES Demand Deposits 36 34 28 25 21 20 18 Time Deposits-Retail - - - - - - - Time Deposits-Money Market - - - - - - - Global Account of deposits without movements - - - - - - - Senior Unsecured Debt - - - - - - - Deposits 36 34 28 25 21 20 18 Due to Banks & Correspondents: - Demand Loans - - - - - - - Short Term Loans - - - - - - - Long Term Loans - - - - - - - Due to Banks & Other Correspondents - - - - - - - Technical Reserves - - - - - - - Non-assigned Securities for Settlement - - - - - - - Creditor Balance in Repo Trans, Net - - - - - - - Secs to be received in Repo Trans, Net - - - - - - - Collateral sold or pledged as collateral: - Repos (Credit Balance) - - - - - - - Securities' Loans - - - - - - - Transactions with Derivatives - - - - - - - Other sold collateral - - - - - - - Total Collateral sold - - - - - - - Derivatives - For trading purposes - - - - - - - For hedging purposes - - - - - - - Total Derivatives - - - - - - - Valuation adjustments for financial liability coverage - - - - - - - Obligations in securitization transactions - - - - - - - Payable Accountsfor Reinsurance - - - - - - - Lease Liabilities - - - - - - - Creditors for settlement of transactions - - - - - - - Margin Accounts Payable - - - - - - - Creditors for collateral received in cash - - - - - - - Contributions payable 8 9 6 4 3 3 3 Suppliers - - - - - - - Related Party - - - - - - - Other Creditors & Accounts Payable 189 37 16 16 114 91 49 Other Payable Accounts 197 46 22 20 117 94 52 Contributions for future capital increases pending formalization by its governing body - - - - - - - Subordinated Non Convertible Debt - - - - - - - Income Tax Liabilities - - - - - - - Employee benefit liability 91 33 31 24 29 33 47 Deferred Credits 0 0 0 0 0 0 - TOTAL LIABILITIES 324 114 80 69 167 146 117 EQUITY Paid-in Capital 4,179 4,179 4,179 4,179 4,179 4,924 4,924 Provision for future capital increase not formalized by its governing entity 400 400 528 745 805 194 306 Share Subscription Premiums 4 4 5 5 5 5 5 Finan. instr. that qualify as capital - - - - - - - Subscribed Capital 4,582 4,582 4,711 4,928 4,988 5,122 5,234 Capital Reserves 10 10 10 10 10 10 10 Retained Earnings (930) (930) (930) (930) (1,827) (1,827) (1,827) Net Income (289) (513) (725) (897) (184) (382) (537) Comprehensive Income - Trading Financial Instruments Valuation - - - - - - - Financial Instruments to Collect and Sell Valuation - - - - - - - Result from valuation of instruments for cash flow hedging - - - - - - - Other Hedging Financial Instruments Valuation - - - - - - - Income and expenses related to assets held for disposal - - - - - - - Defined remeasurements for employees benefits 0 0 0 0 0 0 0 Cumulative translation adjustment - - - - - - - Res. for holding non-monetary assets - - - - - - - Remeasurement by results in valuation of risk reserve in progress due to variation in discount rates - - - - - - - Participation in other comprehensive income of other entities - - - - - - - Earned Capital (1,209) (1,433) (1,645) (1,817) (2,001) (2,199) (2,354) Minority Interest - - - - - - - Total Equity 3,373 3,149 3,067 3,111 2,987 2,923 2,881 TOTAL LIABILITIES & EQUITY 3,698 3,263 3,147 3,181 3,154 3,070 2,998 3Q262Q25 3Q25 4Q25 1Q26 2Q261Q25
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V. Financial Statements Third Quarter 2026 56 Bineo - Memorandum Accounts (Million Pesos) Investment Banking transactions for third parties, net - - - - - - - TOTAL ON BEHALF OF THIRD PARTIES - - - - - - - Endorsement Guarantees Granted - - - - - - - Loan Obligations 7 - - - - - - Trusts - - - - - - - Mandates - - - - - - - Properties in Trusts and Warrant - - - - - - - Properties in Custody or Management - - - - - - - Shares delivered in custody or as collateral - - - - - - - Collateral Received - - - - - - - Collateral Received or sold or delivered - - - - - - - Deposits of assets - - - - - - - Contingent assets & liabilites - - - - - - - Uncollected Accrued Interest from Non-Performing Loans 0 0 0 0 0 0 0 Liabilities for active bonds (net) - - - - - - - Recovery guarantees for issued bonds - - - - - - - Complaints received pending verification - - - - - - - Contingent claims - - - - - - - Claims paid - - - - - - - Claims cancelled - - - - - - - Recovered claims - - - - - - - Miscellaneous accounts 6,926 6,936 6,943 6,946 9,293 9,293 9,048 TOTAL PROPRIETARY 6,934 6,936 6,943 6,946 9,293 9,293 9,048 3Q262Q25 3Q25 4Q25 1Q26 2Q261Q25 Operation activities Net income before taxes (542) Adjustments for items associated with investing activities 129 Depreciation in property, furniture, and equipment 2 Amortization of intangible assets 127 Changes in operating items 73 Change in loan portfolio (net) 2 Change in other accounts receivable (net) (5) Change in other operating assets (net) 28 Change in traditional deposits (7) Change in assets/liabilities for employee benefits 23 Change in other accounts payable (1) Change in other provisions 33 Net cash flows from operating activities (340) Financial activities Contribution fo future capital increases formalized in the Shareholders' Meeting 306 Net cash flows from financing activities 306 Net increase or decrease in cash and cash equivalents (34) Cash and cash equivalents at the beginning of the period 1,132 Cash and cash equivalents at the end of the period 1,098 BINEO - STATEMENT OF CASH FLOWS JANUARY 1st, 2026 – SEPTEMBER 30th, 2026 (Million Pesos)
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V. Financial Statements Third Quarter 2026 57 Balance as of December 31st, 2025 4,179 745 5 10 (1,827) 0 3,112 CHANGES STEMMING FROM STOCKHOLDERS' DECISIONS Contribution for future capital increases formalized by the Ordinary General Meeting of Shareholders on February 25th, 2026 0 60 0 0 0 0 60 Contribution for future capital increases formalized by the Ordinary General Meeting of Shareholders on April 9th, 2026 745 (745) 0 0 0 0 0 Contribution for future capital increases formalized by the Ordinary General Meeting of Shareholders on April 29th, 2026 0 45 0 0 0 0 45 Contribution for future capital increases formalized by the Ordinary General Meeting of Shareholders on May 28th, 2026 0 48 0 0 0 0 48 Contribution for future capital increases formalized by the Ordinary General Meeting of Shareholders on June 29th, 2026 0 41 0 0 0 0 41 Contribution for future capital increases formalized by the Ordinary General Meeting of Shareholders on July 30th, 2026 64 64 Contribution for future capital increases formalized by the Ordinary General Meeting of Shareholders on August 28th, 2026 34 34 Contribution for future capital increases formalized by the Ordinary General Meeting of Shareholders on September 29th, 2026 14 14 Total 745 (439) 0 0 0 0 306 COMPREHENSIVE INCOME Net Income 0 0 0 0 (537) 0 (537) OTHER COMPREHENSIVE INCOME Defined remeasurements for employees' benefits 0 0 0 0 0 0 0 Total 0 0 0 0 (537) 0 (537) Balance as of September 30th, 2026 4,924 306 5 10 (2,364) 0 2,881 (Million Pesos) BINEO - STATEMENT OF CHANGES IN EQUITY JANUARY 1st, 2026 – SEPTEMBER 30th, 2026 CONTRIBUTED CAPITAL EARNED CAPITALRetained Earnings Fixed Paid-in Capital Contribution fo future capital increases formalized by its governing body Premium from Sale of Securities Capital Reserves Total Stockholders' Equity Remeasurement on Defined Employee Benefit
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V. Financial Statements Third Quarter 2026 58 Information by Segments GFNorte - Income Statement as of September 30th, 2026 (Million Pesos) Holding Banorte Banorte Ahorro y Previsión Arrendadora y Factor Banorte Almacenadora Banorte Casa de Bolsa Banorte Interest Income 405 239,199 17,248 3,228 87 12,266 Interest on cash and cash equivalents 263 2,627 85 2 12 200 Interest and yields in favor from margin accounts - (26) - - - 1 Interest and yields in favor from OTC collateral operations - 96 - - - - Interest and yields in favor from investments in financial instruments 90 23,021 10,261 - - 10,560 Interest and yields on repurchase agreements 52 3,465 - - - 449 Operations' coverage income from hedging operations - 4,462 - - - - Income from trading financial instruments - 92,865 - - - 1,028 Interest on loan portfolio with credit risk stage 1 Commercial loans - 30,797 - 2,997 74 - Financial entities - 3,477 - 78 - - Government entities - 9,640 - 96 - - Consumer loans - 42,945 - 1 - - Mortgage loans - 21,075 - - - - Interest on loan portfolio with credit risk stage 2 Commercial Loans - 341 - 5 - - Financial entities - 0 - 0 - - Government entities - - - 13 - - Consumer loans - 967 - - - - Mortgage loans - 353 - - - - Interest on loan portfolio with credit risk stage 3 Commercial loans - 91 - 11 - - Financial entities - - - - - - Government entities - - - - - - Consumer loans - 74 - - - - Mortgage loans - 85 - - - - Insurance and bond loan portfolio interest - - 969 - - - Interest on acquired collection rights - - - - - - Loan commissions - 1,669 - 12 - - Effect of loan portfolio renegotiation - 602 - 1 - - Securities' loans premiums - - 471 - - - Debt issuance premiums - - - - - - Net dividends from equity instruments - 88 186 - - 28 Income from valuation - 483 5,275 11 - - Increase due interest income update - - - - - - Interest expense - 143,525 159 2,183 0 11,336 Interest on demand deposits - 9,603 - - - - Interest on time deposits - 15,713 - - - - Interest due to banks and correspondents - 445 - 2,142 - - Interest, transaction costs, and discounts of financial instruments that qualify as liabilities - 1,811 - - - - Interest and yields charged from OTC collateral operations - 296 - - - - Premiums paid for the early redemption of financial instruments that qualify as liabilities - - - - - - Interest and yields payable in repurchase agreements - 18,360 - - - 10,325 Expenses from hedging operations - 2,916 - - - - Expenses from trading financial instruments - 90,474 - - - 1,010 Proceeds from lended securities - - - - - 0 Effect of loan portfolio renegotiation - 982 - - - - Costs expenses of granting loans - 2,488 - 21 - - Insurance and bail bond loan origination costs and expenses - - - - - - Foreign exchange valorization income - - 144 20 - 1 Chargeable interest associated with the global deposit account without movements - 111 - - - - Interest on lease liabilities - 325 14 - 0 0 Increase due to update of interest expense - - - - - - Financial Margin - - - - - - Financial Margin 405 95,674 17,089 1,045 87 930 Allowance for loan losses - 20,533 21 114 - - Risk adjusted net interest income 405 75,141 17,068 931 87 930 Commissions and fees charged on services - 31,943 - 84 - 1,632 Commissions and fees paid on services - 13,009 - 38 0 286 Premium revenue (net) - - 58,303 - - - Increase in technical reserves (net) - - 32,927 - - - Cost of acquisition for insurance and bail bonds operations (net) - - 5,918 - - - Cost of damages, claims, and other obligations - - 29,267 - - - Trading income - 2,441 3,413 (3) 4 173 Total other operating income (expense) 0 (2,651) 894 1,189 33 20 Administrative and promotional Expenses 37 42,675 1,858 1,006 70 1,729 Operating income 368 51,190 9,706 1,156 53 741 Subsidiaries' net income 46,642 156 1,206 (1) - 0 Pre-tax income 47,010 51,346 10,913 1,155 53 741 Taxes 90 13,997 2,477 414 18 204 Net income from continous operations 46,920 37,349 8,435 741 36 536 Discontinued Operations (254) (294) - - - - NET INCOME 46,667 37,052 8,413 741 36 536 Minority interest - 3 22 0 0 - Other comprehensive income Trading Financial Instruments Valuation - - - - - - Financial Instruments to Collect and Sell Valuation (1,967) (1,823) (163) - - (14) Result from valuation of instruments for cash flow hedging (909) (925) - - - - Other Hedging Financial Instruments Valuation - - - - - - Defined remeasurements for employees benefits 148 148 3 (0) (0) (0) Remeasurement by results in valuation of risk reserve in progress due to variation in discount rates 119 - 119 - - - Cumulative translation adjustment (160) (166) - - - 4 Res. for holding non-monetary assets 0 0 0 0 0 0 Participation in other comprehensive income of other entities Other comprehensive income (2,770) (2,767) (41) (0) (0) (11) COMPREHENSIVE INCOME 43,897 34,289 8,394 741 36 526
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V. Financial Statements Third Quarter 2026 59 GFNorte - Income Statement as of September 30th, 2026 (Million Pesos) Operadora de Fondos Banorte Total Charges Intercompany Eliminations Credits Intercompany Eliminations Final Balance Interest Income 11 272,443 3,993 - 268,450 Interest on cash and cash equivalents 11 3,202 542 - 2,659 Interest and yields in favor from margin accounts - (25) - - (25) Interest and yields in favor from OTC collateral operations - 96 - - 96 Interest and yields in favor from investments in financial instruments - 43,932 90 - 43,842 Interest and yields on repurchase agreements - 3,966 2,186 - 1,780 Operations' coverage income from hedging operations - 4,462 - - 4,462 Income from trading financial instruments - 93,892 - - 93,892 Interest on loan portfolio with credit risk stage 1 Commercial loans - 33,869 - - 33,869 Financial entities - 3,555 885 - 2,670 Government entities - 9,736 - - 9,736 Consumer loans - 42,946 - - 42,946 Mortgage loans - 21,075 - - 21,075 Interest on loan portfolio with credit risk stage 2 Commercial Loans - 347 - - 347 Financial entities - 0 - - 0 Government entities - 13 - - 13 Consumer loans - 967 - - 967 Mortgage loans - 353 - - 353 Interest on loan portfolio with credit risk stage 3 Commercial loans - 103 - - 103 Financial entities - - - - - Government entities - - - - - Consumer loans - 74 - - 74 Mortgage loans - 85 - - 85 Insurance and bond loan portfolio interest - 969 - - 969 Interest on acquired collection rights - - - - - Loan commissions - 1,681 - - 1,681 Effect of loan portfolio renegotiation - 604 - - 604 Securities' loans premiums - 471 290 - 181 Debt issuance premiums - - - - - Net dividends from equity instruments - 302 - - 302 Income from valuation - 5,769 - - 5,769 Increase due interest income update - - - - - Interest expense - 157,203 - 3,971 153,231 Interest on demand deposits - 9,603 - 541 9,062 Interest on time deposits - 15,713 - 2 15,711 Interest due to banks and correspondents - 2,587 - 864 1,724 Interest, transaction costs, and discounts of financial instruments that qualify as liabilities - 1,811 - 90 1,721 Interest and yields charged from OTC collateral operations - 296 - - 296 Premiums paid for the early redemption of financial instruments that qualify as liabilities - - - - - Interest and yields payable in repurchase agreements - 28,685 - 2,476 26,209 Expenses from hedging operations - 2,916 - - 2,916 Expenses from trading financial instruments - 91,484 - - 91,484 Proceeds from lended securities - 0 - - 0 Effect of loan portfolio renegotiation - 982 - - 982 Costs expenses of granting loans - 2,509 - - 2,509 Insurance and bail bond loan origination costs and expenses - - - - - Foreign exchange valorization income - 165 - - 165 Chargeable interest associated with the global deposit account without movements - 111 - - 111 Interest on lease liabilities - 340 - - 340 Increase due to update of interest expense - - - - - Financial Margin - - - - - Financial Margin 11 115,241 3,993 3,971 115,219 Allowance for loan losses - 20,668 - - 20,668 Risk adjusted net interest income 11 94,573 3,993 3,971 94,551 Commissions and fees charged on services 2,932 36,591 6,255 - 30,336 Commissions and fees paid on services 2,029 15,361 - 2,019 13,342 Premium revenue (net) - 58,303 881 - 57,422 Increase in technical reserves (net) - 32,927 - - 32,927 Cost of acquisition for insurance and bail bonds operations (net) - 5,918 - 4,354 1,564 Cost of damages, claims, and other obligations - 29,267 - 18 29,250 Trading income 19 6,047 - - 6,047 Total other operating income (expense) (0) (515) 729 19 (1,225) Administrative and promotional Expenses 221 47,598 119 1,595 46,122 Operating income 712 63,926 11,977 11,977 63,926 Subsidiaries' net income 2 48,006 46,642 - 1,365 Pre-tax income 714 111,932 58,618 11,977 65,290 Taxes 206 17,407 - - 17,407 Net income from continous operations 508 94,526 58,618 11,977 47,884 Discontinued Operations - (547) - - (547) NET INCOME 508 94,004 58,618 12,621 46,667 Minority interest - 25 - 645 670 Other comprehensive income Trading Financial Instruments Valuation - - - - - Financial Instruments to Collect and Sell Valuation - (3,968) 787 2,788 (1,967) Result from valuation of instruments for cash flow hedging - (1,835) (1,322) (397) (909) Other Hedging Financial Instruments Valuation - - - - - Defined remeasurements for employees benefits (0) 298 150 - 148 Remeasurement by results in valuation of risk reserve in progress due to variation in discount rates - 239 119 - 119 Cumulative translation adjustment - (323) - 163 (160) Res. for holding non-monetary assets 0 - - - - Participation in other comprehensive income of other entities Other comprehensive income (0) (5,589) (265) 2,554 (2,770) COMPREHENSIVE INCOME 507 88,440 58,353 15,820 44,567
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V. Financial Statements Third Quarter 2026 60 GFNorte - Balance Sheet as of September 30th, 2026 (Million Pesos) Cash and cash equivalents 6,724 107,524 2,074 56 259 4,454 Margin accounts (derivate financial instruments) - 4,107 - - - - Investment in securities Trading financial instruments - 166,776 94,933 - - 161,847 Financial instruments to collect and sell - 191,462 9,036 - - 32,129 Financial instruments to collect principal and interest (securities) - 148,808 301,688 - - - Estimate of expected credit losses for investments (securities) - (1) (0) - - - Debtor balance in repo trans (net) - 52,271 5,682 - - - Securities lending - - - - - - Derivative financial instruments - - - - - - Transactions with derivatives for trading purposes - 15,802 - - - 519 Transactions with derivatives for hedging purposes - 2,068 - - - - Asset hedges valuation adjustments - - - - - - Loan portfolio with credit risk stage 1 Commercial loans Commercial - 486,109 - 44,954 - - Financial entities - 70,905 - 765 - - Government - 174,545 - 3,059 - - Consumer loans - 258,969 - 1 - - Mortgage Medium and residential - 298,459 - - - - Low-income housing - 0 - - - - Loans acquired from INFONAVIT or FOVISSSTE - 933 - - - - Remodeling or improvement with guarantee of the housing subaccount - - - - - - Loan portfolio with credit risk stage 1 - 1,289,920 - 48,779 - - Loan portfolio with credit risk stage 2 Commercial loans Commercial - 3,195 - 56 - - Financial entities - 18 - - - - Government - - - 115 - - Consumer loans - 4,143 - - - - Mortgage Medium and residential - 4,910 - - - - Low-income housing - - - - - - Loans acquired from INFONAVIT or FOVISSSTE - 48 - - - - Remodeling or improvement with guarantee of the housing subaccount - - - - - - Loan portfolio with credit risk stage 2 - 12,314 - 172 - - Loan portfolio with credit risk stage 3 Commercial loans Commercial - 8,631 - 329 - - Financial entities - 92 - 4 - - Government - - - - - - Consumer loans - 6,155 - - - - Mortgage - - - - - - Medium and residential - 3,635 - - - - Low-income housing - - - - - - Loans acquired from INFONAVIT or FOVISSSTE - 267 - - - - Remodeling or improvement with guarantee of the housing subaccount - - - - - - Loan portfolio with credit risk stage 3 - 18,780 - 333 - - Loan portfolio - 1,321,014 - 49,284 - - (+/-) Deffered items - 5,348 - (22) - - (-) Minus - - - - - - Allowance for loan losses - (26,366) - (389) - - Loan portfolio (net) - 1,299,996 - 48,874 - - Loan portfolio from insurance and bail bonds - - 4,662 - - - (+/-) Deffered items - - - - - - (-) Minus Loan loss-reserve for insurance and bail bond risks - - (361) - - - Total insurance and bail bond loan portfolio (net) - - 4,301 - - - Acquired collection rights (net) - 645 - - - - Loan portfolio (net) - 1,300,642 4,301 48,874 - - Benef. receivab. securization transactions - (0) - - - - Debtors of insurance and surety companies - - 10,531 - - - Amounts recoverable by reinsurance and counter-guarantee (net) - - 9,084 - - - Other accounts receivable (net) 0 72,097 381 1,925 348 3,821 Inventories - - - - 1,351 - Foreclosed assets (net) - 4,814 - 216 19 - Long-term assets held for sale 1,869 314 - 294 - - Advanced payments and other assets (net) 14 5,750 2,613 3,218 46 322 Property, furniture, and equipment (net) - 29,109 188 7,000 50 40 Assets for rights of use of property, furniture and equipment (net) - 4,326 201 - 3 8 Investment in subsidiaries 225,152 1,549 13,930 33 - 3 Deferred income tax assets 49 3,674 731 318 8 - Intagible assets (net) 60 8,096 1,658 33 18 191 Goodwill 25,329 2,192 - - - - TOTAL ASSETS 259,196 2,121,381 457,032 61,967 2,101 203,333 ASSETS Holding Banorte Banorte Ahorro y Previsión Arrendadora y Factor Banorte Almacenadora Banorte Casa de Bolsa Banorte
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V. Financial Statements Third Quarter 2026 61 GFNorte - Balance Sheet as of September 30th, 2026 (Million Pesos) Cash and cash equivalents 166 121,258 9 12,867 108,400 Margin accounts (derivate financial instruments) - 4,107 - - 4,107 Investment in securities Trading financial instruments 482 424,038 - - 424,038 Financial instruments to collect and sell - 232,626 - - 232,626 Financial instruments to collect principal and interest (securities) - 450,496 - 347 450,149 Estimate of expected credit losses for investments (securities) - (1) - - (1) Debtor balance in repo trans (net) - 57,953 - 55,195 2,758 Securities lending - - - - - Derivative financial instruments - - - - - Transactions with derivatives for trading purposes - 16,321 - 497 15,824 Transactions with derivatives for hedging purposes - 2,068 - - 2,068 Asset hedges valuation adjustments - - - - - Loan portfolio with credit risk stage 1 Commercial loans Commercial - 531,063 - - 531,063 Financial entities - 71,670 - 17,853 53,817 Government - 177,604 - - 177,604 Consumer loans - 258,970 - - 258,970 Mortgage Medium and residential - 298,459 - - 298,459 Low-income housing - 0 - - 0 Loans acquired from INFONAVIT or FOVISSSTE - 933 - - 933 Remodeling or improvement with guarantee of the housing subaccount - - - - - Loan portfolio with credit risk stage 1 - 1,338,699 - 17,853 1,320,846 Loan portfolio with credit risk stage 2 Commercial loans Commercial - 3,252 - - 3,252 Financial entities - 18 - - 18 Government - 115 - - 115 Consumer loans - 4,143 - - 4,143 Mortgage Medium and residential - 4,910 - - 4,910 Low-income housing - - - - - Loans acquired from INFONAVIT or FOVISSSTE - 48 - - 48 Remodeling or improvement with guarantee of the housing subaccount - - - - - Loan portfolio with credit risk stage 2 - 12,486 - - 12,486 Loan portfolio with credit risk stage 3 Commercial loans Commercial - 8,960 - - 8,960 Financial entities - 96 - - 96 Government - - - - - Consumer loans - 6,155 - - 6,155 Mortgage - - - - - Medium and residential - 3,635 - - 3,635 Low-income housing - - - - - Loans acquired from INFONAVIT or FOVISSSTE - 267 - - 267 Remodeling or improvement with guarantee of the housing subaccount - - - - - Loan portfolio with credit risk stage 3 - 19,114 - - 19,114 Loan portfolio - 1,370,298 - 17,853 1,352,446 (+/-) Deffered items - 5,326 - - 5,326 (-) Minus - - - - - Allowance for loan losses - (26,754) - - (26,754) Loan portfolio (net) - 1,348,870 - 17,853 1,331,017 Loan portfolio from insurance and bail bonds - 4,662 - - 4,662 (+/-) Deffered items - - - - - (-) Minus Loan loss-reserve for insurance and bail bond risks - (361) - - (361) Total insurance and bail bond loan portfolio (net) - 4,301 - - 4,301 Acquired collection rights (net) - 645 - - 645 Loan portfolio (net) - 1,353,816 - 17,853 1,335,964 Benef. receivab. securization transactions - (0) - - (0) Debtors of insurance and surety companies - 10,531 - - 10,531 Amounts recoverable by reinsurance and counter-guarantee (net) - 9,084 - - 9,084 Other accounts receivable (net) 403 78,975 - 826 78,149 Inventories - 1,351 - - 1,351 Foreclosed assets (net) - 5,049 - - 5,049 Long-term assets held for sale - 2,478 - - 2,478 Advanced payments and other assets (net) 10 11,973 - 42 11,931 Property, furniture, and equipment (net) 0 36,387 203 44 36,546 Assets for rights of use of property, furniture and equipment (net) - 4,538 - - 4,538 Investment in subsidiaries 73 240,741 390 225,542 15,589 Deferred income tax assets 9 4,788 - 37 4,751 Intagible assets (net) 73 10,127 - - 10,127 Goodwill - 27,521 - - 27,521 TOTAL ASSETS 1,216 3,106,226 602 313,250 2,793,578 ASSETS Operadora de Fondos Banorte Final Balance Charges Intercompany Eliminations Credits Intercompany EliminationsTotal
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V. Financial Statements Third Quarter 2026 62 GFNorte - Balance Sheet as of September 30th, 2026 (Million Pesos) Deposits Demand deposits - 866,132 - - - - TIme deposits Time deposits-retail - 417,420 - - - - Time deposits-money market - 3,831 - - - - Senior unsecured debt - 29,910 - - - - Global account of deposits without movements - 4,816 - - - - Due to banks & correspondents Demand loans - - - - - - Short-term loans - 3,457 - 33,101 1,549 - Long- term loans - 4,393 - 10,160 - - Non-assigned securities for settlement - - - - - - Technical reserves - - 399,594 - - - Creditor balance in repo transactions (net) - 354,249 - - - 191,483 Securities to be received in repo transactions (net) - - - - - - Collateral sold or pledged as collateral Repos - 50,513 - - - - Securities' loans - - - - - - Transactions with derivatives - - - - - - Other sold collateral - - - - - - Derivative financial instruments For trading purposes - 12,653 - - - 420 For hedging purposes - 1,134 - - - - Valuation adjustments for financial liability coverage - - - - - - Payable accounts for reinsuarance and counter-guarantee entities (net) - - 4,678 - - - Obligations in securitization transactions - - - - - - Lease liabilities - 4,746 211 - 3 10 Other payable accounts Creditors of liquidation operations - 41,791 - - - 5,004 Margin accounts payable - - - - - - Creditors from collaterals received in cash - 7,695 - - - - Contributions payable 0 2,679 1,298 16 1 148 Other creditors and accounts payable 2 33,339 6,005 2,079 42 163 Financial instruments that qualify as a liability Subordinated non- convertible debt - 99,604 - - - - Income tax liabilities 29 7,123 2,544 267 2 86 Employee benefit liability - 11,296 221 173 12 682 Deferred credits and advanced charges - 994 71 175 - 0 TOTAL LIABILITIES 32 1,957,776 414,621 45,971 1,608 197,998 Equity Paid-in capital Common stock 14,685 18,795 15,776 14,294 87 1,985 Additional paid- in capital 41,805 1,759 5,594 43 - 155 Provision for future capital increase not formalized by its governing entity - - - - - - Financial instruments that qualify as equity - - - - - - Earned capital Capital reserves 30,137 18,959 3,155 1,118 78 397 Cumulative results Retained earnings 131,782 92,468 9,555 (201) 291 2,199 Net income 46,667 37,052 8,413 741 36 536 Other comprehensive income Trading Financial Instruments Valuation - - - - - - Financial Instruments to Collect and Sell Valuation (2,551) (1,900) (566) - - (9) Result from valuation of instruments for cash flow hedging 138 139 - - - - Other Hedging Financial Instruments Valuation - - - - - - Defined remeasurements for employees benefits (3,603) (3,669) (28) 1 1 4 Remeasurement by results in valuation of risk reserve in progress due to variation in discount rates 230 - 231 - - - Cumulative translation adjustment (125) (197) - - - 69 Res. for holding non-monetary assets - - - - - - Participation in other comprehensive income of other entities - - - - - - Majority interest 259,165 163,407 42,130 15,996 493 5,335 Minority Interest - 198 281 0 0 - TOTAL EQUITY 259,165 163,605 42,411 15,996 493 5,335 TOTAL LIABILITIES AND EQUITY 259,196 2,121,381 457,032 61,967 2,101 203,333 Casa de Bolsa Banorte Almacenadora BanorteLIABILITIES & EQUITY Holding Banorte Banorte Ahorro y Previsión Arrendadora y Factor Banorte
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V. Financial Statements Third Quarter 2026 63 GFNorte - Balance Sheet as of September 30th, 2026 (Million Pesos) Deposits Demand deposits - 866,132 12,600 - 853,533 TIme deposits Time deposits-retail - 417,420 268 - 417,152 Time deposits-money market - 3,831 - - 3,831 Senior unsecured debt - 29,910 - - 29,910 Global account of deposits without movements - 4,816 - - 4,816 Due to banks & correspondents Demand loans - - - - - Short-term loans - 38,108 12,349 - 25,758 Long- term loans - 14,553 5,504 - 9,049 Non-assigned securities for settlement - - - - - Technical reserves - 399,594 - 5 399,599 Creditor balance in repo transactions (net) - 545,732 55,195 - 490,537 Securities to be received in repo transactions (net) - - - - - Collateral sold or pledged as collateral Repos - 50,513 - - 50,513 Securities' loans - - - - - Transactions with derivatives - - - - - Other sold collateral - - - - - Derivative financial instruments For trading purposes - 13,073 497 - 12,576 For hedging purposes - 1,134 - - 1,134 Valuation adjustments for financial liability coverage - - - - - Payable accounts for reinsuarance and counter-guarantee entities (net) - 4,678 - - 4,678 Obligations in securitization transactions - - - - - Lease liabilities - 4,970 - - 4,970 Other payable accounts Creditors of liquidation operations - 46,796 65 - 46,730 Margin accounts payable - - - - - Creditors from collaterals received in cash - 7,695 - - 7,695 Contributions payable 37 4,180 - - 4,180 Other creditors and accounts payable 277 41,908 912 4 40,999 Financial instruments that qualify as a liability Subordinated non- convertible debt - 99,604 - - 99,604 Income tax liabilities 43 10,095 37 - 10,058 Employee benefit liability 67 12,450 - - 12,450 Deferred credits and advanced charges - 1,240 42 - 1,198 TOTAL LIABILITIES 424 2,618,430 87,469 9 2,530,970 Equity Paid-in capital Common stock 170 65,792 51,107 (0) 14,685 Additional paid- in capital 35 49,391 7,756 326 41,961 Provision for future capital increase not formalized by its governing entity - - - - - Financial instruments that qualify as equity - - - - - Earned capital Capital reserves 34 53,879 23,741 - 30,137 Cumulative results Retained earnings 44 236,138 112,639 8,238 131,738 Net income 508 93,953 47,286 - 46,667 Other comprehensive income Trading Financial Instruments Valuation - - - - - Financial Instruments to Collect and Sell Valuation - (5,027) 819 3,294 (2,551) Result from valuation of instruments for cash flow hedging - 277 (60) (199) 138 Other Hedging Financial Instruments Valuation - - - - - Defined remeasurements for employees benefits 1 (7,293) - 3,690 (3,603) Remeasurement by results in valuation of risk reserve in progress due to variation in discount rates - 461 231 - 230 Cumulative translation adjustment - (254) (128) - (125) Res. for holding non-monetary assets - - - - - Participation in other comprehensive income of other entities - - - - - Majority interest 792 487,317 243,391 15,349 259,275 Minority Interest - 478 - 2,854 3,332 TOTAL EQUITY 792 487,796 243,391 18,203 262,608 TOTAL LIABILITIES AND EQUITY 1,216 3,106,226 330,860 18,212 2,793,578 Final BalanceLIABILITIES & EQUITY Operadora de Fondos Banorte Total Charges Intercompany Eliminations Credits Intercompany Eliminations
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VI. Appendix Third Quarter 2026 64 VI. Appendix Accounting & Regulatory Changes Numbers in this section are stated in million pesos. Early termination of support programs for mortgage loan debtors On June 30, 2010, the Federal Government, through the SHCP (Tax and Credit Institutions Authority), signed an agreement to early terminate the support programs for the mortgage loan debtors. Therefore, as of January 1st, 2011, the Holding entity absorbed the discount that was early applied to the mortgage loan debtors enrolled in the program. The agreement established a set of payment obligations by the Federal Government payable in 5 equal annual payments ending on June 1st, 2015; day in which the bank received a last payment amounting to Ps 29 million, including a monthly interest from the day after the cutoff date until the ending month before the payment date. As of September 30, 2026, the remaining balance of CETES ESPECIALES which have not been repurchased by the Federal Government, totaled Ps 503 million, with maturity in 2027. Declaration of Institutions Subject to Consolidation for LCR and NSFR Calculation Aligned with the regulatory changes implemented on March 1st, 2022, the declaration of the institutions that consolidate in the calculation of the LCR and the NSFR can be found in the following link. (available only in Spanish). Total Loss-Absorbing Capacity As a Locally Systemically Important Entity, Banorte is subject to the Total Loss -Absorbing Capacity (TLAC) supplement, incorporated into the regulation in 2021 and gradually implemented beginning in December 2022, with full implementation reached in December 2025. Currently, Banorte fully complies with the minimum regulatory requirements. In May 2026, an amendment to the methodology for calculating the TLAC supplement was published in the Official Gazette of the Federation (Diario Oficial de la Federación ). This amendment aligns local regulation with international standards and provides greater stability over time in determining the minimum regulatory capital ratio required to comply with TLAC requirements.
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VI. Appendix Third Quarter 2026 65 Notes to Financial Statements Trading Financial Instruments Book Value Interest Unrealized Gain (Loss) Market Value Government Securities 324,293 4,096 (322) 328,066 Unrestricted 41,654 906 (1) 42,559 BONDES F 7,908 34 5 7,947 BONOS M 2,429 17 (51) 2,396 BPA 251 1 (1) 252 BREMS - - - - Government Securities 15 0 0 15 UDI Securities 2,385 24 113 2,522 CETES 6,207 607 57 6,872 CETES (Special) - - - - Government Eurobonds 2,533 15 (142) 2,406 Udibonds 19,772 206 16 19,994 Treasury Bills 122 0 (0) 123 Treasury Bonds 7 0 (0) 7 Treasury Notes 25 0 1 26 Restricted 282,638 3,190 (321) 285,507 BONDES F 53,961 175 26 54,162 BONDES G 4,284 12 1 4,297 BONOS M 20,134 308 (261) 20,182 BPA 191,899 2,632 (89) 194,442 Government Securities 5,516 15 7 5,537 UDI Securities 0 0 0 0 CETES 5,833 45 (1) 5,878 Government Eurobonds 100 - 0 101 Udibonds 911 2 (4) 909 Banking Securities 30,565 52 (0) 30,617 Unrestricted 5,116 3 (0) 5,118 Bank Acceptances 7 - - 7 Development Bank Securities 9 0 (0) 9 Bank Securities 18 0 (0) 19 Deposit Certificates 293 1 - 294 Other Banking Securities 57 1 (0) 58 Promissory Notes 4,732 - 0 4,732 Restricted 25,449 50 0 25,499 Development Bank Securities 12,923 21 (0) 12,943 Bank Securities 8,731 16 (0) 8,746 Deposit Certificates 3,000 12 0 3,012 Other Banking Securities 717 2 1 719 Promissory Notes 78 - (0) 78 Private Securities 1,776 16 (4) 1,788 Unrestricted 1,746 16 (4) 1,758 Stock Certificates BORHIS - - - - Corporate Stock Certificates 667 11 2 681 Municipal Stock Certificates - - - - Private Eurobonds 1,078 4 (6) 1,077 Infrastructure and Real Estate Trusts 1 - 0 1 Other Private Securities - - - - Restricted 29 - (0) 29 Corporate Stock Certificates 4 - 0 4 Municipal Stock Certificates - - - - Private Eurobonds 26 - (0) 26 Equity Financial Instruments 56,187 - 7,380 63,567 Unrestricted 55,784 - 7,380 63,164 Shares 4,684 - 1,427 6,111 Investment Company Shares 51,100 - 5,954 57,054 Restricted 403 - (0) 403 Shares 403 - (0) 403 Reasonable Value Adjustment Ixe Bank Acq - - - - Total 412,820 4,164 7,054 424,038 INVESTMENTS IN FINANCIAL INSTRUMENTS AND VALUATION EFFECTS 3Q26 (Million Pesos)
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VI. Appendix Third Quarter 2026 66 Instruments to Collect or Sell Book Value Interest Unrealized Gain (Loss) Market Value Government Securities 180,908 2,645 (2,174) 181,378 Unrestricted 37,554 271 (761) 37,065 BONDES F - - - - BONOS M 4,334 79 (73) 4,340 BPA (100) - (4) (104) BREMS 7,778 8 - 7,787 Government Securities 667 7 (90) 585 UDI Securities 20 0 1 22 CETES 5,684 - 6 5,691 CETES (Special) - - - - Government Eurobonds 12,173 110 (694) 11,589 Udibonds 6,997 66 92 7,155 Treasury Bills - - - - Treasury Bonds - - - - Treasury Notes - - - - Restricted 143,354 2,373 (1,414) 144,314 BONDES F - - - - BONDES G - - - - BONOS M 46,187 758 (133) 46,812 BPA 41,023 1,392 14 42,429 Government Securities 3,896 9 22 3,928 UDI Securities - - - - CETES 27,958 - (39) 27,918 Government Eurobonds 17,528 166 (1,192) 16,502 Udibonds 6,763 48 (86) 6,724 Banking Securities 35,402 266 (349) 35,319 Unrestricted 13,198 162 (270) 13,090 Bank Acceptances - - - - Development Bank Securities 1,302 10 (115) 1,197 Bank Securities 3,976 94 (100) 3,970 Deposit Certificates 86 0 - 87 Other Banking Securities 4,643 57 (55) 4,646 Promissory Notes 3,190 - 0 3,190 Restricted 22,204 104 (79) 22,230 Development Bank Securities 5,823 61 (83) 5,801 Bank Securities 10,481 29 3 10,513 Deposit Certificates 4,850 11 0 4,861 Other Banking Securities 1,050 4 1 1,055 Promissory Notes - - - - Private Securities 16,537 81 (690) 15,928 Unrestricted 14,123 79 (649) 13,552 Stock Certificates BORHIS 77 - (77) (0) Corporate Stock Certificates 11,571 48 (562) 11,057 Municipal Stock Certificates 633 6 22 660 Private Eurobonds 1,842 25 (32) 1,835 Infrastructure and Real Estate Trusts - - - - Other Private Securities - - - - Restricted 2,414 2 (41) 2,376 Corporate Stock Certificates (0) - (0) (0) Municipal Stock Certificates 2,414 2 (41) 2,376 Private Eurobonds - - - - Equity Financial Instruments - - - - Unrestricted - - - - Shares - - - - Investment Company Shares - - - - Restricted - - - - Shares - - - - Reasonable Value Adjustment Ixe Bank Acq - - - - Total 232,847 2,992 (3,213) 232,626 INVESTMENTS IN FINANCIAL INSTRUMENTS AND VALUATION EFFECTS 3Q26 (Million Pesos)
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VI. Appendix Third Quarter 2026 67 Financial instruments to Collect Principal and Interest (securities) (net) Book Value Interest Unrealized Gain (Loss) Market Value Government Securities 438,045 6,397 - 444,442 Unrestricted 372,749 5,475 - 378,223 BONDES F - - - - BONOS M 848 21 - 869 BPA - - - - BREMS - - - - Government Securities 1,123 5 - 1,128 UDI Securities 78 1 - 80 CETES - - - - CETES (Special) 36 466 - 502 Government Eurobonds 56,941 1,037 - 57,979 Udibonds 293,978 3,841 - 297,819 Treasury Bills 8,932 - - 8,932 Treasury Bonds - - - - Treasury Notes 10,813 103 - 10,915 Restricted 65,296 922 - 66,219 BONDES F - - - - BONDES G - - - - BONOS M 12,697 320 - 13,017 BPA - - - - Government Securities - - - - UDI Securities - - - - CETES - - - - Government Eurobonds 51,169 586 - 51,755 Udibonds 1,430 16 - 1,446 Banking Securities - - - - Sin Restricción - - - - Bank Acceptances - - - - Development Bank Securities - - - - Bank Securities - - - - Deposit Certificates - - - - Other Banking Securities - - - - Promissory Notes - - - - Restricted - - - - Development Bank Securities - - - - Bank Securities - - - - Deposit Certificates - - - - Other Banking Securities - - - - Promissory Notes - - - - Private Securities 5,172 882 - 6,054 Unrestricted 2,672 880 - 3,552 Stock Certificates BORHIS 2 0 - 2 Corporate Stock Certificates 981 875 - 1,856 Municipal Stock Certificates - - - - Private Eurobonds 700 5 - 705 Infrastructure and Real Estate Trusts - - - - Other Private Securities 988 - - 988 Restricted 2,500 2 - 2,502 Corporate Stock Certificates - - - - Municipal Stock Certificates 2,500 2 - 2,502 Private Eurobonds - - - - Equity Financial Instruments - - - - Unrestricted - - - - Shares - - - - Investment Company Shares - - - - Restricted - - - - Shares - - - - Reasonable Value Adjustment Ixe Bank Acq (347) - - (347) Reasonable value adjustment Ixe Bank Acq (1) - - (1) Total 442,869 7,280 - 450,149 INVESTMENTS IN FINANCIAL INSTRUMENTS AND VALUATION EFFECTS 3Q26 (Million Pesos)
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VI. Appendix Third Quarter 2026 68 Instrument Fair Value Futures #REF! TIIE 28 Futures - Forward Rate Forward - Fx Forward 500 Stock Forward 2 Options Rate Options 781 Fx Options 67 Warrants - Swaps Rate Swap 5,005 Fx Swap 6,182 Credit Swap 39 Negotiable Total 12,576 Options Rate Options - Fx Options - Swaps Rate Swap 784 Fx Swap 350 Credit Swap - Hedging Total 1,134 Position Total 13,710 Debtor Balance DERIVATES FINANCIAL INSTRUMENTS OPERATIONS 3Q26 (Million Pesos) Instrument Fair Value Futures TIIE 28 Futures - Forward Rate Forward - Fx Forward 468 Stock Forward - Options - Rate Options 812 Fx Options 83 Warrants 7 Swaps Rate Swap 9,061 Fx Swap 5,373 Credit Swap 19 Negotiable Total 15,824 Options Rate Options - Fx Options - Swaps Rate Swap 518 Fx Swap 1,550 Credit Swap - Hedging Total 2,068 Position Total 17,892 DERIVATES FINANCIAL INSTRUMENTS OPERATIONS 3Q26 (Million Pesos) Creditor Balance Repo Creditors MV Repo Debtors VM Collateral Received/Sold in Repo Trans MV Repo Creditors Goverment Securities 2,758 42,803 439,341 Banking Securities (0) 7,650 21,275 Private Securities - 59 29,921 Total 2,758 50,513 490,537 REPURCHASE AGREEMENT OPERATIONS 3Q26 (Million Pesos) Repo Debtors
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VI. Appendix Third Quarter 2026 69 PRODUCT TYPE UNDERLYING NOTIONAL OPERATIONS FX Forwards Purchases Exchange Rate (USD/MXN) 13,554.79 306 FX Forwards Sales Exchange Rate (USD/MXN) 14,918.69 340 FX Forwards Purchases Exchange Rate (EUR/MXN) 73.56 2 FX Forwards Sales Exchange Rate (EUR/MXN) 73.74 2 FX Options Purchases Exchange Rate (Dollar) 8,640.64 213 FX Options Sales Exchange Rate (Dollar) 4,186.67 202 Interest Rate Options Purchases TIIE 52,357.86 121 Interest Rate Options Sales TIIE 71,164.66 265 Interest Rate Options Purchases LIBOR 283.51 2 Interest Rate Options Sales LIBOR 216.97 1 Interest Rate Options Purchases SOFR 53,665.77 72 Interest Rate Options Sales SOFR 54,817.78 83 Broker-dealer Interest Rate Options Purchases SOFR 1,589.66 1 Broker-dealer Interest Rate Options Sales SOFR 1,589.66 1 Interest Rate Swaps USD LIBOR LIBOR 61,961.92 931 Interest Rate Swaps MXN TIIE TIIE 1,535,576.87 3,866 Interest Rate Swaps USD SOFR SOFR 324,548.18 1,063 Broker-dealer Interest Rate Swaps MXN TIIE M M TIIE 16,313.35 12 Broker-dealer Interest Rate Swaps USD SOFR SOFR 6,709.81 6 Interest Rate and FX Swaps CS USDMXN VARIABLE/VARIABLE 159,762.33 246 Interest Rate and FX Swaps CS USDMXN FIX/FIX 23,831.26 28 Interest Rate and FX Swaps CS CHFUSD FIX/VARIABLE 470.10 4 Interest Rate and FX Swaps CS EURMXN FIX/FIX 23,352.18 59 Interest Rate and FX Swaps CS UDIMXN FIX/FIX 1,377.91 3 Credit Derivatives CDS USD ESTADOS UNIDOS MEXICANOS 5,785.87 24 Credit Derivatives CDS USD J.P. MORGAN NY 958.28 3 Equity Options Purchases 1A_CRM_* 62.83 1 (Million Pesos) NOTIONAL PRINCIPAL AMOUNT IN DERIVATIVE OPERATIONS 3Q26 - Banorte 3Q25 3Q26 3Q25 3Q26 3Q25 3Q26 3Q25 3Q26 Performing Loans Stage 1 & 2 Commercial Loans 341,987 369,140 - - 140,123 165,175 482,110 534,315 Loans to Financial Entities 24,028 29,002 - - 19,933 24,833 43,961 53,835 Consumer Loans 230,499 263,112 - - - - 230,499 263,112 Mortgage Loans 287,774 304,329 28 21 - - 287,802 304,350 Government Loans 144,684 170,517 - - 10,806 7,203 155,490 177,720 Total 1,028,972 1,136,100 28 21 170,862 197,211 1,199,863 1,333,332 Past Due Loans Stage 3 Commercial Loans 8,687 8,705 - - 331 255 9,018 8,960 Financial to Financial Entities 78 96 - - - - 78 96 Consumer Loans 5,054 6,155 - - - - 5,054 6,155 Mortgage Loans 2,601 3,900 2 2 - - 2,604 3,902 Government Loans - - - - - - - - Deffered Items 3,702 5,342 - - 12 (16) 3,714 5,326 Total Credit Portfolio 1,049,094 1,160,300 31 22 171,206 197,449 1,220,331 1,357,772 Insurance and Bail Bond Portfolio 4,113 4,662 - - - 0 4,113 4,662 Total Propietary Loans with Insur. and Subs. 1,053,207 1,164,962 31 22 171,206 197,450 1,224,444 1,362,434 LOAN PORTFOLIO (Million Pesos) Local Currency UDIS Foreign Currency Total
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VI. Appendix Third Quarter 2026 70 PERIOD COST BALANCE OF LOAN PORTFOLIO FINAPE - - FOPYME - - Mortgage UDIS (15.9) 0.0 Mortgage FOVI - - (15.9) 0.0 COST OF BALANCES OF FINAPE, FOPYME, MORTGAGE UDIS AND MORTGAGE FOVI LOAN PORTFOLIOS AS OF 3Q26- GFNorte (Million Pesos) TOTAL ASSETS INCOME TAX NET Global loss reserves loan portfolio 8,333 8,333 Non deductible provisions 2,643 2,643 Excess of accounting value over fiscal value on reposessed long- term assets (32) (32) Diminishable Employee Profit Sharing (PTU) 656 656 Advanced charged fees 1,106 1,106 Effects from valuation of instruments - - Tax losses pending amortization 17 17 Provisions for possible loss in loans 604 604 Pension funds contribution 43 43 Loss on sale of foreclosed assets and credits 1 1 Value decrease in property - - Loan interest - - Other accounts 57 57 Total Assets 13,429 13,429 LIABILITIES Pension funds contribution - - Loan portfolio acquisitions (169) (169) Projects to be capitalized (6,229) (6,229) Intangibles’ amortizations different from commercial funds - - Effects from valuation of instruments (1,965) (1,965) Intangibles’ amortizations related with clients (261) (261) Unrealized loss on securities held for sale (54) (54) Total Liabilities (8,677) (8,677) Assets (Liabilities) accumulated net 4,751 4,751 DEFERRED TAXES 3Q26 (Million Pesos)
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VI. Appendix Third Quarter 2026 71 Non Convertible Subordinated Bonds 2016 (D8_BNR1031_575C) USD 04-oct-16 500 9,607 1,338 15 years 5.750% 04-oct-26 04-oct-31 180 days Stock certificates 2016 (94_BINTER_16U) UDIS 13-oct-16 365 2,000 3,226 10 years 4.970% - 01-oct-26 182 days Non Convertible Subordinated Bonds 2017 (D8_BNRP_7625C) USD 06-jul-17 550 10,077 9,944 Perpetual 7.625% 10-jan-28 Perpetual Quarterly Non Convertible Subordinated Bonds 2019 (D8_BANP_75C) USD 27-jun-19 500 9,584 9,040 Perpetual 7.500% 27-jun-29 Perpetual Quarterly Non Convertible Subordinated Bonds 2020 (D2_BANOC21_999999) USD 14-jul-20 500 11,309 9,040 Perpetual 8.375% 14-oct-30 Perpetual Quarterly Stock certificates 2020 (94_BANORTE_20U) UDIS 30-sep-20 107 700 944 10 years 2.760% - 18-sep-30 182 days Non Convertible Subordinated Bonds 2021 (D2_BANOA99_999999) USD 24-nov-21 500 10,718 9,040 Perpetual 5.875% 24-jan-27 Perpetual Quarterly Non Convertible Subordinated Bonds 2021 (D2_BANOB72_999999) USD 24-nov-21 550 11,790 9,944 Perpetual 6.625% 24-jan-32 Perpetual Quarterly Stock certificates 2023 (94_BANORTE_23-3) MXN 24-feb-23 4,180 4,180 4,180 4 years TIIE + .08% - 19-feb-27 28 days Stock certificates 2023 (94_BANORTE_23-5) MXN 25-may-23 2,387 2,387 2,387 7 years 9.410% - 16-may-30 182 days Stock certificates 2023 (94_BANORTE_23U) UDIS 25-may-23 276 2,149 2,436 10 years 4.680% - 12-may-33 182 days Stock certificates 2024 (94_BANORTE_24-2X) MXN 19-feb-24 3,642 3,642 3,642 7 years 9.740% - 10-feb-31 182 days Stock certificates 2024 (94_BANORTE_24UX) UDIS 19-feb-24 648 5,249 5,724 10 years 4.900% - 06-feb-34 182 days Stock certificates 2024 (94_BANORTE_24X) MXN 19-feb-24 4,172 4,172 4,172 4 years TIIE fondeo+0.33% - 14-feb-28 28 days Non Convertible Subordinated Bonds 2024 (D2_BANOD06_999999) USD 20-nov-24 750 15,242 13,561 Perpetual 8.375% 20-may-31 Perpetual Quarterly Non Convertible Subordinated Bonds 2024 (D2_BANOE88_999999) USD 20-nov-24 750 15,242 13,561 Perpetual 8.750% 20-may-35 Perpetual Quarterly Non Convertible Subordinated Bonds 2026 (D2_BANOF53_999999) USD 24-jun-26 600 10,575 10,848 Perpetual 8.000% 24-jan-33 Perpetual Quarterly Non Convertible Subordinated Bonds 2026 (D2_BANOG37_999999) USD 24-jun-26 750 13,219 13,561 Perpetual 8.450% 24-jun-36 Perpetual Quarterly LONG TERM DEBT AS OF SEPTEMBER 30th, 2026 - BANCO MERCANTIL DEL NORTE (Million Pesos) TERM RATE MATURITY INTEREST PAYMENTTYPE OF DEBT CURRENCY DATE OF ISSUE ORIGINAL AMOUNT ORIGINAL AMOUNT (VALUED) CURRENT AMOUNT CALLABILITY Loans from Development Banks 14,166 4,077 18,243 Loans from Public Funds 5,512 1,171 6,683 Loans from Banks 27,713 - 27,713 Loans from Fiduciary Funds 15 - 15 Provisions for Interest 7 - 7 47,413 5,248 52,661 Eliminations (17,853) Total 34,808 TOTALFOREIGN CURRENCY BANK AND OTHER ENTITIES LOANS’ AS OF 3Q26 (Million Pesos) LOCAL CURRENCY Demand Deposits Local Currency and UDIs 1.48% Foreign Currency 1.74% Time Deposits - Retail Local Currency and UDIs 4.94% Foreign Currency 1.54% Time Deposits - Money Market Local Currency and UDIs 6.40% Inmediate Redemption Loans Local Currency and UDIs - Foreign Currency - Public Funds and Development Banks Local Currency and UDIs 7.69% Foreign Currency 4.00% CORE DEPOSITS (BANORTE) DUE TO BANKS & CORRESPONDENTS (BANORTE) CORE DEPOSITS AND DUE TO BANKS & CORRESPONDENTS - INTEREST RATES 3Q26
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VI. Appendix Third Quarter 2026 72 *The Banxico MXN & USD Credit Auction and Ordinary Facility are now within the Permanent Facility according to Banxico 1/2024 circular. The credit amount of the RSP and Permanent Facility are interchangeable. Line Used % used Line Used % used Line Used % used Bank Counterparty Lines (Call Money) 226,926 3,109 1.4% 247,565 14,337 5.8% 247,337 9,217 3.7% Banxico (Repos for liquidity with the System of Payments) RSP* 102,594 7,207 7.0% 104,968 9,516 9.1% 107,566 14,418 13.4% Banxico Credit line with Government and Banking securities as collateral (Permanent Facility)* 142,645 - 0.0% 157,466 - 0.0% 169,735 - 0.0% Banxico Credit line with State and Municipial Government securities as collateral (Extraordinary Facility) 76,062 - 0.0% 70,831 - 0.0% 72,587 - 0.0% TOTAL 548,227 10,316 1.9% 580,830 23,853 4.1% 597,225 23,635 4.0% 3Q25 2Q26 3Q26 (Million pesos) MAIN CREDIT LINES RECEIVED 3Q26 (BANORTE) Trading income Consolidated Securities - Unrealized gains 2,631 Trading financial instruments 2,201 Trading financial instruments (derivatives) 421 Hedging financial instruments (derivatives) 9 Estimate of expected credit losses for investments in financial instruments 138 Result from foreign exchange valuation (537) Result from valuation of precious metals 0 Result from purchase/sale of securities and derivatives 1,698 Trading financial instruments 535 Financial instruments to collect or sell 494 Financial instruments to collect principal and interest (securities) 508 Trading financial instruments (derivatives) 57 Hedging financial instruments (derivatives) 105 Result from purchase/sale of foreign exchange 2,106 Result from purchase/sale of precious metals 11 Total 6,047 TRADING INCOME AS OF 3Q26 (Million Pesos)
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VI. Appendix Third Quarter 2026 73 3Q25 2Q26 3Q26 Equity 262,693 247,426 259,165 + Subordinated Notes 0 0 0 - Other Liabilities 20 1 32 Net Capital 262,673 247,425 259,133 Permanent Investments 229,912 218,172 225,152 Coverage 114.25% 113.41% 115.09% NET CAPITAL OF THE HOLDING COMPANY OF THE FINANCIAL GROUP AS OF 3Q26 (Million pesos)
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VI. Appendix Third Quarter 2026 74 Internal Control For Grupo Financiero Banorte, S.A.B. de C.V. (GFNORTE), internal control is a shared responsibility among all of its constituents; therefore, the Board of Directors, other Corporate Governance entities, the senior management team, and each one of its executives and employees are part of the Internal Control System (ICS). ICS is the general framework set forth by the Board of Directors with the objective of reaching institutional objectives through policies and monitoring activities and procedures, which have a positive impact on risk management, on the trustworthiness of financial information being generated, and on regulatory compliance. ICS establishes objectives and general guidelines which provide a framework to activities and responsibilities applicable to all personnel in charge of origination, operational processing, and execution. Such activities are monitored by teams specializing in risk monitoring and in mitigating controls. The ICS framework is based on the Three Lines Model for risk management, designed to safeguard and preserve the Institution's value: A. First: Operational Management (Risk Owner). Business and operational areas that generate revenue and execute day-to-day processes, under the key principle that “those who generate the risk are responsible for managing it.” B. Second: Risk Oversight and Specialized Risk Management. Areas responsible for establishing methodologies, monitoring, and challenging the First Line. In other words, the Second Line does not execute business activities; rather, it provides oversight, monitors, and challenges the First Line. C. Third: Internal Audit. Provides independent assurance to the Board of Directors and Corporate Governance Committees. It does not manage risks; rather, it assesses how effectively the Institution manages them. At GFNORTE we are convinced that having an adequate control environment is yet another competitive advantage that drives our growth and solid presence in the domestic financial market. Therefore, all executives and employees perform their daily activities with discipline as well as with strict adherence to the norm; following a philosophy of getting things done right the first time without having to rely on reviews that might be carried out by other areas. During the third quarter of 202 6, there was continuous development of activities related to strengthening control, risk evaluation and management, establishment and monitoring of controls, and quality of information assurance; highlighting the following: A. The various Corporate Governance Committees have had the required financial, economic, accounting and/or legal information for proper decision-making. B. Corporate Governance documents related to the Internal Control framework were reviewed and updated and subsequently presented through the CAPS to the Board of Directors for approval. C. Policies and procedures manuals were kept updated to reflect changes in external regulations, the launch of new products, updates to the Institution’s processes, or improvements in internal controls. D. The requests from different internal areas regarding internal control matters were addressed, both in support of the development of new institutional projects and those that derive from regulatory changes. E. GFNORTE’s business and operating support processes were constantly monitored through the Business Process and Management Controllers. They issue periodic compliance reports and identify areas of opportunity so that they can be remediated appropriately. F. Various activities related to Internal Accounting Control were carried out in accordance with the work plan established at the beginning of the year. G. Effectiveness testing associated with the Business Continuity Plan (the Plan) was conducted in line with the schedule and scope approved by the relevant Corporate Governance body responsible for this matter. In addition, the Plan was successfully activated in response to three technological and natural events that occurred during the period, producing satisfactory results. H. Revisions were carried out to ensure regulatory compliance with the requirements set forth by the Authority regarding the operation of the payment methods SPID, SPEI, CoDi and BDT. I. Ongoing monitoring of customer account transactions was maintained to identify potentially suspicious activities that, due to their characteristics, could be associated with money laundering (ML) or terrorist financing (TF) typologies. Additionally, initia tives continued to strengthen the Sanctions Compliance Program following the designation by the United States Government of certain drug cartels as Foreign Terrorist Organizations (FTOs). These efforts included enhancements to internal policies and procedu res, reviews and refinements of risk assessment methodologies, and targeted assessments across strategic business areas. J. Activities were carried out to ensure the appropriate handling and protection of personal data. Banorte remains the only bank in Mexico to hold a Personal Data Protection Law Compliance Certification, in addition to
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VI. Appendix Third Quarter 2026 75 maintaining the international ISO 27701 certification and PCI DSS certifications across its Acquiring, Electronic Banking, and Contact Center channels. K. The Chief Information Security Officer (CISO) presented the Master Plan to GFNorte Senior Management for approval and subsequently carried out their responsibilities in accordance with the approved plan. The CISO reported identified findings and detailed progress on activities performed to the GFNorte Chief Executive Officer and the rel evant Corporate Governance Committees, while maintaining a matrix reporting relationship with the Comptrollership function as part of the Internal Control System (ICS) framework. L. Activities were carried out to ensure compliance with the 2026 Fraud Prevention Management Plan, with progress and results periodically reported to the relevant Corporate Governance Bodies. M. An internal control framework is being implemented to support the safe, responsible, and structured adoption of Artificial Intelligence across institutional processes. The framework aims to enable GFNorte to harness the benefits of AI in terms of productivity, efficiency, and innovation, while maintaining appropriate risk management, information protection, and regulatory compliance. This comes in response to emerging risks, such as hallucinations, bias, d ata exposure, third -party dependencies, and agent autonomy, which require controls beyond traditional frameworks. N. Follow-up continued on improvement actions related to observations made by the various members of the ICS. O. Responses were provided to requests received from the Supervisory Authorities, and all reporting and compliance obligations required under applicable external regulations were duly fulfilled. In addition, ongoing support and coordination have been maintained in connection with the authorities' regular inspection processes. Financial Situation and Liquidity Treasury Policy Regulatory Framework All operations carried out by the Treasury are executed in strict accordance with the regulations established by banking authorities, including Banco de México (BANXICO), the National Banking and Securities Commission (CNBV), the Ministry of Finance and Public Credit (SHCP), as well as the provisions set forth in the Law of Credit Institutions. Moreover, the Treasury is subject to policies regarding liquidity, market, and counterparty credit risk management, established annually by the Risk Policy Committee (CPR) through the following operating parameters: Market Risk: • VaR (Value at Risk) • DV01 (sensitivity by security, term and currency) Liquidity Risk: • LCR (Liquidity Coverage Ratio) • ACLME (Regime of liabilities admission and investment in foreign currency and limit of FX risk position) • NSFR (Net Stable Funding Ratio) • Survival Horizon Credit Risk: • Counterparty Lines Capital Management: • Tier 1, Core Tier 1, and Net Capital (these are monitoring thresholds, the Treasury will set mechanisms to the extent that the Bank or any of its subsidiaries approaches the limits established by the CPR). Treasury Management To maintain a prudent A&L management strategy through stable funding sources, constitute and maintain liquid assets at optimum levels, the Treasury applies the following guidelines: 1. Diversification of funding sources in national and international markets.
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VI. Appendix Third Quarter 2026 76 2. Structure liabilities in such a way as to avoid the accumulation of maturities that significantly influence the administration and control of the Treasury’s resources. 3. Maintain a diversified funding structure through the issuance of medium - and long-term instruments, contributing to the strengthening of the Institution’s liquidity and maturity profile. 4. Manage and maintain liquid assets to total assets, considering its effects on profitability and liquidity needs. 5. Determine and propose the Transfer Costs Policy, according to the current business plan. The balance sheet management, liquidity, and funding strategy will be overseen by the appropriate governance bodies, including the Asset and Liability Committee (ALCO) and the Risk Policies Committee. Treasury’s Funding sources Sources of financing for the Treasury are classified as follows: 1. Public: • Demand Deposits • Term Deposits 2. Market: • Commercial Paper • Cross-Currency Swaps • Securitizations • Deposit Certificates • Issuance Programs • Bank Loans 3. National Banks and Development Funds: • Interbank Loans • Funding Lines 4. Correspondent Banks: • Foreign Banks 5. Available credit lines: (available and not disposed) • Commercial paper • Call Money • Correspondent Banks Through various long -term funding programs, initiatives are analyzed and implemented to strengthen and consolidate the debt profile. The Treasury, in coordination with the Risk Management Division, continuously monitors compliance with the Liquidity Coverage Ratio (LCR) limits established by both the Risk Policy Committee and regulatory authorities. Main sources of liquidity Client deposits, including interest -bearing and non -interest-bearing demand deposits, as well as time deposits, are our main liquidity source. Regarding other liquidity sources, Banorte has diverse mechanisms to access debt and capital markets. The Institution obtains resources through the issuance of debt securities, subordinated debt (Capital Notes), and loans and facilities from other banking institutions including the Central Bank and International Banks. Liquid assets include investments in government securities and deposits held in the Central Bank and foreign banks. Main initiatives of Banorte's liquidity during 3Q26.
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VI. Appendix Third Quarter 2026 77 Banorte’s liquidity strategy is aimed at maintaining adequate liquidity levels according to prevailing market conditions. In this regard, management decided to preserve liquidity levels through its funding structure based on client deposits. It should be noted that Banorte did not use the Mexican Central Bank’s Permanent Liquidity Facilities nor the Extraordinary Facilities during 3Q26. Detailed information regarding liquidity sources is reported in different headings of the GFNorte’s Balance Sheet in this report. Dividend Policy By Resolution of the Ordinary General Shareholders' Meeting held on April 30, 2019 , it was approved to modify the Dividend Policy, so that the dividend payment is a percentage according to the following: 1. Between 16% and up to 50% of the net income of the prior year. As reference, the previous Dividend Policy was approved in accordance with the following: a) By resolution of the Ordinary General Shareholders Meeting held on November 19, 2015, it was approved to modify the Dividend Policy so that the dividend payment is a percentage according to the following: 1. Between 16% and up to 40% of the net income of the prior year. b) By resolution of the Ordinary General Shareholders Meeting held on October 17, 2011, it contemplated the dividend payment as follows: 1. 16% of the recurring net profit in case the profit grows between 0% and 10% during the year. 2. 18% of the recurring net profit in case the profit grows between 11% and 20% during the year. 3. 20% of the recurring net profit in case the profit grows more than 21% during the year. Related Parties Loans According to Article 73 Bis of the Law of Credit Institutions, loans granted to the related parties of credit institutions cannot exceed the established limit of 35% of the basic portion of net capital. In the case of GFNorte, as of September 30th, 2026, and June 30th, 2026, the amount of loans granted to third parties was as follows (billion pesos): Lender Sep-26 % Basic Equity Jun-26 % Basic Equity Banorte 26.40 11.2% 27.41 12.7% 26.40 27.41 The loans granted are under the 100% limit set forth by the LIC. Banorte As of September 30, 2026, total loans granted to related parties, under Article 73 of the Law of Credit Institutions, was Ps 26.40 billion (including Ps 2.46 billion in Letters of Credit “CC”, which are registered in memorandum accounts), representing 2.0% of Banorte’ s total loan portfolio (excluding the balance of CC). Out of the total related loans balance, Ps 25.22 billion were loans granted to clients linked to members of the Board of Directors, and Ps 1.18 billion were linked to companies related to GFNorte. At the end of September 2026, there were no loans granted to clients related to shareholders. In accordance with Article 73 of the Law for Credit Institutions, the balance of GFNorte’ s related party loan portfolio for individuals and corporations at the end of September 2026 was 11.2% of Core Equity. Related party loans have been granted under market conditions and rated in accordance with the policies, procedures, and rating systems applicable to the rest of GFNorte’ s loan portfolio based on the general dispositions applicable to credit institutions regarding rating of loan portfolios issued by CNBV. Additionally, 100% of the related party loans are rated in Category "A", and most of these loans were classified as commercial loans.
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VI. Appendix Third Quarter 2026 78 As of June 30, 2026, total loans granted to related parties, under Article 73 of the Law of Credit Institutions, was Ps 27.41 billion (including Ps 2.24 billion in Letters of Credit “CC”, which are registered in memorandum accounts), representing 2.2% of Banorte’ s total loan portfolio (excluding the balance of CC). Out of the total related loans balance, Ps 25.92 billion were loans granted to clients linked to members of the Board of Directors, and Ps 1.49 billion were linked to companies related to GFNorte. At the end of June 2026, there were no loans granted to clients related to shareholders. In accordance with Article 73 of the Law for Credit Institutions, the balance of GFNorte’ s related party loan portfolio for individuals and corporations at the end of June 2026 was 12.7% of Core Equity. Related party loans have been granted under market conditions and rated in accordance with the policies, procedures, and rating systems applicable to the rest of GFNorte’ s loan portfolio based on the general dispositions applicable to credit institutions regarding rating of loan portfolios issued by CNBV. Additionally, 100% of the related party loans are rated in Category "A", and most of these loans were classified as commercial loans. Loan or tax liabilities The tax credits listed below are currently in litigation: Million pesos People in Charge In accordance with Article 33, Section II, of the “General Provisions applicable to Issuers and Other Participants in the Securities Market”: “The undersign represents under oath that, taking into account our respective functions, we have drawn up the information relative to the issuer contained in this quarterly report, which, to the best of our knowledge, reasonably reflects its financial situation. Furthermore, we express that we are not aware that rele vant information has been omitted or falsified in this quarterly report or that it contains information that may lead to errors for investors”. Act. Jose Marcos Ramirez Miguel Chief Executive Officer of Grupo Financiero Banorte, S.A.B. de C.V. Eng. Rafael Arana de la Garza Chief Operating Officer Lic. Tomás Lozano Derbez Chief Financial Officer Lic. Héctor Martín Ávila Flores Chief Legal Counsel In accordance with Article 62, last paragraph, of the “General Provisions applicable to Holding Companies of Financial Groups which regulate the matters corresponding jointly to the National Supervisory Commissions”: “The undersign represents under oath that, taking into account our respective functions, we have drawn up the information relative to Grupo Financiero, which, to the best of our knowledge, reasonably reflects its financial situation, operation results, changes in equity, and cash flows”. Act. Jose Marcos Ramirez Miguel Chief Executive Officer of Grupo Financiero Banorte, S.A.B. de C.V. Eng. Rafael Arana de la Garza Chief Operating Officer Lic. Tomás Lozano Derbez As of September 30, 2026 PENSIONES BANORTE Ps 186 Financial year 2014 186 SEGUROS BANORTE Ps 46 Financial year 2016 46 SEGUROS BANORTE Ps 38 Financial year 2017 38
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VI. Appendix Third Quarter 2026 79 Chief Financial Officer C.P. Isaias Velazquez Gonzalez Managing Director of Internal Audit Lic. Jorge Eduardo Vega Camargo Deputy Managing Director of Comptrollership C.P.C. Mayra Nelly López López Deputy Managing Director of Accounting
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VI. Appendix Third Quarter 2026 80 Board of Directors The composition of the Board of Directors for fiscal year 2026 was approved by resolution of the Annual General Ordinary Shareholders’ Meeting held on April 23rd, 2026. As of September 30th, 2026, the Board of Directors of Grupo Financiero Banorte, S.A.B. de C.V. (“GFNorte”) was comprised of 13 Directors and, where applicable, their respective Alternate Directors, of whom 8 were independent, as follows: Grupo Financiero Banorte, S.A.B. de C.V. Board of Directors DIRECTORS Mr. Carlos Hank González Chairman of the Board of Directors Mr. Juan Antonio González Moreno Director Mr. David Juan Villarreal Montemayor Director Mr. José Marcos Ramírez Miguel Director Mr. Carlos de la Isla Corry Director Mrs. Alicia Alejandra Lebrija Hirschfeld Independent D. Mr. Clemente Reyes Retana Valdés Independent D. Mrs. Mariana Baños Reynaud Independent D. Mr. Federico Carlos Fernández Senderos Independent D. Mr. David Peñaloza Alanís Independent D. Mr. José Antonio Chedraui Eguía Independent D. Mr. Thomas S. Heather Rodríguez Independent D. Mrs. Diana Muñozcano Félix Independent D. ALTERNATES Mrs. Graciela González Moreno Alternate Mr. Juan Antonio González Marcos Alternate Mr. Alberto Halabe Hamui Independent A. Mr. Gerardo Salazar Viezca Alternate Mr. Rafael Victorio Arana de la Garza Alternate Mr. Roberto Kelleher Vales Independent A. Mrs. Cecilia Goya de Riviello Meade Independent A. Mr. José María Garza Treviño Independent A. Mr. Manuel Francisco Ruiz Camero Independent A. Mr. Carlos Césarman Kolteniuk Independent A. Mr. Humberto Tafolla Núñez Independent A. Mr. Diego Martínez Rueda-Chapital Independent A. Mr. Manuel Guillermo Muñozcano Castro Independent A.
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VI. Appendix Third Quarter 2026 81 Compensation and Benefits The total amount of compensation and benefits paid to Banorte’s main officers in 2025 was approximately Ps 439.4 million. Compensations and Benefits are as follows: • Fixed Compensation: Salary. • Annual Bonus Plan for 2025: The Bonus Plan for each business area evaluates compliance with the net income budget for each particular business, as well as an evaluation of individual performance, which considers the achievement of each participant's goals and objectives. The bonus for certain departments is also adjusted based on operational risk evaluations carried out by the Control Department. Likewise, eligibility to receive the deferred variable compensation for a group of managers is determined by a risk and compliance mechanics’ review. Eligible personnel of staff areas are evaluated based on the compliance with the net income budget for the Group , as well as individual performance in accordance with the achievement of each candidate’s goals and objectives. For senior management, yearly bonuses are covered in 60% and the remaining 40% is covered in three annual installments of 13%, 13%, and 14%, respectively. • Banorte’s Long-Term Incentive Plans: Stock Options: Long-term incentive scheme consists of assigning a stock option package through a trust, with a 100% right in a period up to 4 years, for designated Officers by the Compensation Committee. Participants will be entitled to exercise a percentage of the package each year, receiving shares in its capital account. • Vacations: From 16 up to 40 working days, depending on each employee’s years of service. • Holiday Bonus: From 8 up to 23 days of salary to be paid on each anniversary of the employee, depending on the number of years of service. • Legally Mandated Christmas Bonus: Equivalent to 42 days of salary. • Savings Fund: The Institution matches the amount of the employee's contribution up to a maximum of 13% of their monthly salary in accordance with the legal limits established in the Income Tax Law. • Medical Service: Traditional Scheme: Banorte provides medical services through recognized medical institutions, obtaining efficiency in cost and service. Full Medical Insurance Scheme: Major medical expenses insurance policy. • Life Insurance: In the event of death or total incapacity, a life insurance policy provides a sum of up to 36 months’ salary. In the event of accidental death, the compensation is double, prior verification by the insurance company. • Pension and Retirement: The institution has two types of plans: one with defined benefits (Traditional and Special), and a second one with a defined contribution (Asegura tu Futuro). • Asegura tu Futuro: established since January 1st, 2001. This is a defined contribution plan, whereby a percentage of individual contributions by the employee and the company (Banorte) are deposited in a fund for withdrawal by that employee upon termination of their labor relationship. This plan has an "initial individual contribution" (only for employees hired prior to January 1st, 2001) corresponding to pension benefits for past services accumulated to the date the plan was created. The maximum monthly contribution is 10% of the gross nominal wage (5% employee and 5% company). The total amount accumulated by the Asegura tu Futuro plan for the company’s main officers amounts to Ps 322.7 million. • Board Members’ compensation for attending Board meetings: 2 Ps 50 gold coins ("Centenarios") at the value of each meeting. In 2025 it was Ps 9.94 million net.
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VI. Appendix Third Quarter 2026 82 Basis for submitting and presenting Financial Statements Grupo Financiero Banorte (GFNorte). Issues the financial statements in consolidated form with its Subsidiaries in accordance with the General Provisions Applicable to the Controlling and Sub-Controlling Companies of Financial Groups that regulate the matters that correspond jointly to the National Supervisory Commissions (the Provisions) published in the Official Gazette of the Federation on June 29, 2018 , modified through Resolution published in the same official medium on December 21, 2021 March 14, and December 19 and 22, 2025. Banorte. Issues the financial statements in consolidated form with its Subsidiaries in accordance with the General Provisions Applicable to the financial information of the Credit Institutions (the Provisions) published in the Official Gazette of the Federation on December 2, 2005, modified by means of published Resolutions in the aforementioned Official Gazette on March 3 and 28, September 15, December 6 and 8, 2006, January 12, March 23, April 26, November 5, 2007, March 10, August 22, September 19, October 14, December 4, 2008, April 27, May 28, June 11, August 12, October 16, November 9, December 1 and 24, 2009, January 27, February 10, April 9 and 15, May 17, June 28, July 29, August 19, September 9 and 28, October 25, November 26 and December 20, 2010, January 24 and 27, March 4, April 21, July 5, August 3 and 12, September 30, October 5 and 27, and December 28, 2011, June 19, July 5, October 23, November 28 and December 13, 2012, January 31, April 16, May 3, June 3 and 24, July 12, October 2 and December 24, 2 013, January 7 and 31, March 26, May 12 and 19, July 3 and 31, September 24, October 30, December 8 and 31, 2014, January 9, February 5, April 30, May 27, June 23, August 27, September 21, October 29, November 9 and 13, December 16 and 31, 2015, April 7 and 28, June 22, July 7 and 29, August 1, September 19 and 28, and December 27, 2016, January 6, April 4 and 27, May 31, June 26, July 4 and 24, August 29, October 6 and 25, December 18, 26 , and 27, 2017, January 22, March 14, April 26, May 11, June 26, July 23, August 29, September 4, October 5, November 15 and 27, 2018, April 15, July 5, October 1, and November 4 and 25, 2019, March 13, April 9, June 9, August 21, October 12, November 19, December 4, 2020, May 21, June 18, July 20 and 23, August 6, September 23, and December 15, 30, and 31 2021, May 13 and 27, June 22, September 2, October 19, 2022, January 13, April 17, September 13, 15 and 27, and Decem ber 27, 2023, February 07, 09 and 27, April 16, May 30, June 14, July 11, August 14 and 29, September 30, December 27 and 30, 2024, March 31, June 23, July 24, September 11, December 2, 3 and 4, 2025, and March 26 and 27, May 18, June 5 and 12, and July 1, 2, 3 and 14, September 1, 2026, respectively. GFNorte and Banorte. The financial information contained in this document has been prepared in accordance with the regulation issued by the National Banking and Securities Commission (CNBV) for the holding company and the financial entities that make up the Financial Group and the NIF issued by the Mexican Board of Standards of Financial Information, AC (CINF). The regulation of the CNBV and the NIFs differ from each other due to the specialized operations of the Credit Institutions. They also differ from the accounting principles generally accepted in the United States of America (US GAAP) and the regulations and principles established by the North American authorities for this type of financial entities. In order to present the information contained in an international format, the format for the classification and presentation of certain financial information differs from the format used for the financial information published in Mexico. The information contained in this document is based on the unaudited financial information of each of the entities to which it refers. CNBV Indicators’ Methodology Operating Efficiency Cost to Income Ratio = Non-Interest Expense of the period / Total Income of the period Where: Total Income = Net Interest Income + Non-Interest Income Non-Interest Income = Fees Charged – Fees Paid + Trading Income + Other Operating Income (Expenses) Operating efficiency = Annualized Non-Interest Expense of the period / average Total Assets of the period Profitability NIM = Annualized Net Interest Income of the period / average Earning Assets of the period Risk-Adjusted NIM = Annualized Net Interest Income Adjusted for Credit Risks for the period / average Earning Assets of the period Where:
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VI. Appendix Third Quarter 2026 83 Performing Assets = Cash and Equivalents + Investments in Securities + Estimate of Investments in Securities + Repo Debtors + Securities to be Received in Repo Transactions + Derivatives + Valuation Adjustments for Financial Asset Hedging + Loan Book Stages 1 and 2 + Receivable Benefits for Securitization Transactions ROE = Annualized Net Income of the period / average Majority Equity of the period Where: Majority Equity = Total Equity – Minority Interest ROTE = Annualized Net Income of the period / average Tangible Majority Equity of the period Where: Tangible Majority Equity = Total Equity – Minority Interest - Intangibles - Goodwill Intangibles = Deferred Charges + Anticipated Payments + Intangible Assets + Rights of Use of Intangible Assets ROA = Annualized Net Income of the period / average Total Assets of the period Asset Quality Cost of Risk = Annualized Provisions of the period / average Total Loans of the period Non-Performing Loan Ratio = Monthly Stage 3 Loans / Monthly Stages 1+2+3 Loans Coverage Ratio = Monthly Preventive Loan Loss Reserves from the Financial Position Statement / Monthly Stage 3 Loans Taxes Tax Rate = Income Tax of the period / Operating Income of the period Liquidity Liquidity = Monthly Liquid Assets / Monthly Liquid Liabilities Where: Liquid Assets = Cash and Equivalents + Trading Financial Instruments Without Restriction + Financial Instruments to Collect or Sell Without Restriction Liquid Liabilities = Demand Deposits + Interbank and other Organisms Immediate Enforceability + Interbank and other Organisms Short-Term Loans Solvency Leverage Ratio = Monthly Total Assets / Monthly Equity Notes on Calculation Methodology: 12-Month Cumulative Calculations For ROA, ROE, ROTE, NIM, Risk-Adjusted NIM, Cost of Risk, Operating Efficiency, and Cost to Income Ratio 12M, the last 12 months of the Income Statement figures are added, and the last 12 months of the Statement of Financial Position figures are averaged. 9-Month Cumulative Calculations For ROA, ROE, ROTE, NIM, Risk-Adjusted NIM, Cost of Risk, and Operating Efficiency 9M, the 9 months of the Income Statement figures for the year are added and annualized (divided by 9 and multiplied times 12), and the last 9 months of the Statement of Financial Position figures are averaged. 6-Month Cumulative Calculations For ROA, ROE, ROTE, NIM, Risk-Adjusted NIM, Cost of Risk, and Operating Efficiency 6M, the 6 months of the Income Statement figures for the year are added and annualized (divided by 6 and multiplied times 12), and the last 6 months of the Statement of Financial Position figures are averaged.
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VI. Appendix Third Quarter 2026 84 Quarterly Calculations For ROA, ROE, ROTE, NIM, Risk-Adjusted NIM, Cost of Risk, and Operating Efficiency, the 3 months of the Income Statement figures for the quarter are added and annualized (divided by 3 and multiplied times 12), and the last 3 months of the Statement of Financial Position figures are averaged. Income Statement Ratios Cumulative Tax Rate and Cost to Income Ratio : The accumulated balances to the month for which the calculation is performed are considered. Quarterly Tax Rate and Cost to Income Ratio: The quarterly balances for which the calculation is performed are considered. Statement of Financial Position Ratios Non-Performing Loans Ratio, Coverage Ratio, Liquidity Ratio, and Leverage Ratio: Figures corresponding to the month under calculation are taken from the Statement of Financial Position; as such, there is no difference in the calculation of quarterly or cumulative ratios.