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RCBC FY 2025 Analyst Briefing February 25, 2026 www.rcbc.com Disclaimer: We may make forward-looking statements and refer to non-GAAP financial measures during the briefing. Forward-looking statements are based on management's current expectations and assumptions that are subject to risks and uncertainties. Factors that may cause our actual results to materially differ from expectations are detailed in our earnings materials as well as our SEC filings available on the website. Information about non-GAAP financial measures, including reconciliations to U.S. GAAP can also be found in our earnings materials on the website.
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Macroeconomic Outlook Michael Ricafort Chief Economist
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Market forecasts and catalysts for 2026 Philippine GDP Growth Estimates (2025-2026)Key Market Catalysts: 5 As of February 9, 2026 Multilateral Institutions 2025 Forecast 2026 Forecast IMF 5.6% (from 5.8%) 5.8% (from 5.9%) ADB 5.3% (from 5.7%) Around 6% World Bank 5.3% (from 5.4%) 5.4%; (from 5.5%) AMRO 5.3% (from 5.5%) S&P Global Ratings 5.7% (from 5.8%) 6.5% (from 6.8%); 6.8% for 2028 Moody’s 5.7% (from 5.8%) 5.8% (same) Fitch Ratings/BMI 5.2% (same) PH Government 5.0%-6.0% (from 6.0%-7.0%) 6.5%-7.5% (from 6.0%-7.0%) 1 Continued US Fed rate cuts expected Fed dot plot suggests an additional 25 basis points cut in 2026 and 25 basis points cut 2027; but Fed Fund Futures priced in more than two (2) -0.25 Fed rate cuts for 2026 (starting the latter part of 2026). 2 BSP has room for more easing The BSP cut its key overnight rate on February 19, 2026, as widely expected, by -0.25 to 4.25%, new 3.5- year lows; Dropped its previous statement on December 11, 2025 that it was near the end of the monetary easing cycle. 3 Peso relatively stable vs. US Dollar USD/PHP at 58-57 levels, down from the new record high of 59.50 posted on January 20, 2026; President Marcos and BSP Governor Remolona signaled that they do not want the USD/PHP to reach 60; weaker US dollar vs. major global currencies amid Fed rate cuts, debasement. 4 PSEi sustained above the 6,000 support level BSP policy rate cuts aim to boost lending and economic expansion; catch up spending by the government based on anti-corruption measures and reforms that would further level up governance standards.
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9 Market forecasts and catalysts for 2026 US & Philippine Policy Rate OutlookPhilippine Economic Outlook 6 Economic Indicators 2024 Actual 2025 Actual 2026 Forecast GDP Growth 5.6% 4.4% 5.3%-5.8% USD/PhP (Year-End) 57.845 58.79 58.00-59.00 USD/PhP (Average) 57.29 57.50 58.25-59.25 Inflation (Average) 3.2% 1.7% 3.2%-3.7% BSP Policy Rate 5.75% 4.50% 3.75%-4.25% Fed Funds Rate 4.50% 3.75% 3.25%-3.50% PSEi 6,258.79 6,052.92 6,500-7,000 Economic Indicators 3-Month Forecast 6-Month Forecast 1-Year Forecast BSP Policy Rate (now at 4.50%) 4.25%-4.50% 4.00%-4.25% 3.75%-4.00% Fed Funds Rate (now at 3.75%) 3.50%-3.75% 3.25%-3.50% 3.00%-3.25%
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FY 2025 Performance Chrissy P. Alvarez Corporate Planning Head
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8 FY 2025 Key Highlights Award-winning digital CX • Digital loan availments on the rise, accounting for 65% of unsecured loans • Streamlined processes and enhanced support resulting to frictionless cx • Among the first to implement AI across customer journeys • Recognized as Best Bank for Digital by Euromoney for the 6th year • Gross income was higher by 18.5%, supported by a robust 4.8% NIM • NII soars by 32.1% vs. previous year driven by robust consumer loan expansion • Service fees and commissions jump 24.7% vs. year ago 469 Branches 6,454 ATM1 6,902 Employees 1Includes ATM Go terminals and ATM Agency Banking terminals - handheld ATM facility that enables banking transactions outside branches and ATMs, and through partner merchants ₱10.6B Net Income ₱762B Net Loans; 7% YoY 13.6% CET1 Ratio ₱9.7B in digital loan bookings as of FY2025 4,937 ATMGo Terminals as of December 31, 2025 • Total assets steady at ₱1.4 Tn • Capital remained strong with CET1 at 13.6% and CAR at 14.5% Consumer loans drive strong profitability Robust balance sheet & capital position 11% Increase in net income ₱1.4T Total Assets
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Consolidated Financial Overview 9 Income Statement Amounts in PhP Millions, except YoY 2025 2024 Change YoY Gross Income 63,277 53,408 9,869 18.5% Net Interest Income 56,148 42,501 13,647 32.1% Fee Income 10,579 8,485 2,094 24.7% Operating Expenses 35,024 31,801 3,223 10.1% Impairment Losses 15,000 8,619 6,381 74.0% Net Income 10,558 9,520 1,038 10.9% Balance Sheet Amounts in PhP Millions, except YoY 2025 2024 Change YoY Assets 1,356,388 1,360,153 (3,765) (0.3%) Loans¹ 761,877 709,930 51,947 7.3% Investment Securities 374,881 429,086 (54,205) (12.6%) Deposits 1,025,455 1,022,794 2,661 0.3% Capital 151,122 158,491 (7,369) (4.6%) Financial Ratios 2025 2024 YoY PROFITABILITY ROE2 6.7% 6.0% 0.6% ROA 0.8% 0.8% 0.05% NIM 4.8% 3.9% 0.9% COST EFFICIENCY CIR 55.4% 59.5% (4.2%) ASSET QUALITY Net NPL Ratio 2.8% 2.4% 0.4% NPL Coverage Ratio3 72.0% 74.6% (2.7%) CAPITAL CAR 14.5% 16.1% (1.6%) CET1 13.6% 13.5% (0.03%) [1] Loans and Receivables net of Allowances and Interbank Loans [2] ROE is calculated excluding AT1 capital. [3] NPL cover includes P7.0Bn of General Loan Loss provisions booked in Retained Earnings
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18.5% 32.1% (34.6%) YoY Fee Income +31.9% YoY *Figures in Php Billions, except % As of December 31, 2025 10 Core business driver of strong performance +24.7% YoY Gross Revenue Quarterly Net Interest Income 4.8% 4.7% 4.6% 4.2% 3.9% 63.3 53.4 42.5 56.1 10.9 7.1 2024 2025 Net Interest Income Other Income 11.6 12.3 14.0 14.5 15.3 4Q24 1Q25 2Q25 3Q25 4Q25 Net Interest Income Quarterly NIM 8.5 10.6 FY24 FY25 57%22% 5% 16% Debit & Credit Cards Loans Investment Banking Other retail transactions
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39% 33% 24% 3% Credit Cards Housing Loans Auto Loans PL/SL 761B 11 1Total Gross Loan to Customer 2Consumer refers to Auto, Mortgage, Credit Card and Personal/Salary Loans Note: Percentages may not add up to 100% due to rounding *Figures in Php Billions, except % As of December 31, 2025 710 761 7.1% (20.5%) (1.7%) 29.4% YoY Customer Loan Portfolio1 Loan Mix Consumer Loans Consumer loans leading portfolio expansion 287 282 138 110 285 369 2024 2025 Corporate SME Consumer2 48% 14% 37% Consumer SME Corporate
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12 Historical Cost of Funds and Asset Yield in % Quarterly Net Interest Margin Trend in % Higher NIM from improvement in cost of funds 2.70% 4Q24 1Q25 2Q25 3Q25 4Q25 Cost of funds 7.31% Asset Yield 3.9% 4.2% 4.6% 4.7% 4.8% 4Q24 1Q25 2Q25 3Q25 4Q25
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13 Consumer Loans portfolio in PHP billions, % growth year-on-year Consistent double-digit consumer loan expansion CARDS & PL +31% MORTGAGE +20% AUTO +41% ₱44B in auto loan bookings, up by 31% compared to previous year, supported by dealership programs vs industry’s 24% ₱35B in mortgage loan bookings, up by 7% vs. LY, boosted by internal sales & partnership with developers ₱247B in issuing billing; 27% higher higher compared to year ago levels +33% vs industry’s* 19% *UKB Industry data as of September 30, 2025
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14 Credit Card Issuing Billings In Php Billions P98K in receivables per card, up by 12% year-on-year P146B in balances; 32% improvement from last year’s level P12.2B personal loans receivables; 25% increase vs last year 1.49M cards in force; 18% higher than last year, 231k net new cards as of end-2025 Strong growth in credit cards & personal loan bookings 65% Share of PL via Digital Channels 195 247 +27%
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15 Challenges in SME portfolio contributing to higher NPL ratios To manage risk in the growing portfolio, the bank focuses on key segments with good credit behavior - depositors, affluent clients, and payroll customers. The SME portfolio accounts for 14% of the total loan portfolio as the bank tightens its credit underwriting. NPLs in this segment are undergoing restructuring. CORPORATE CONSUMER CREDIT CARDS PL SME 37% 28% 19% 2% 14% 2.7% 4.5% 4.6% 9.5% 11.2% PORTFOLIO SHARE GROSS NPL RATIO Comparative Consumer Loan NPL Ratios September 2025 Gross NPL RCBC UKB Consumer (auto & housing) 4.6% 5.9% Credit Cards PL 4.1% 7.8% 4.8% 4.5%
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Cash management to support deposit growth Historical Deposits & CASA in Php Billions 16 CheckScan transaction values up by 50%, pushing transactions up to PHP 76 B Double-digit jump in CashCube business at 68% vs previous year Bills collection brought PHP 37B increase in transactions value YoY EFT contributed 30% of increase in values Payroll up PHP 28.5B YoY, bringing total value to PHP 156B Double digit jump in checks, up by PHP 16B 536 672 857 957 1,023 1,025 302 373 421 502 538 538 2020 2021 2022 2023 2024 2025 Deposits CASA
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Digital channels show strong performance 19 All-in-One Lifestyle App The Philippines’ most inclusive digital platform PH’s 1st neighborhood & last mile ATM network 52% Total Transaction Volume 46% Total Transaction Value 4,937 Terminals 21% Total Transaction Volume 23% Total Transaction Value 33% Deposit Level Growth 101% Fund Transfer Transactions 373% New Accounts
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Over 100 global and regional awards in 6 years!