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Based on BRSA Consolidated Financials October 28, 2026 9M26 EARNINGS PRESENTATION
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MACRO OUTLOOK
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3 9M26 CONSOLIDATED EARNINGS PRESENTATION We maintain our year-end CPI inflation forecast at around 30%. Favorable food prices have supported recent disinflation, but higher energy costs and geopolitical risks could limit further improvement. Following the 100bp cut in October, we expect the CBRT funding rate to remain at 36% by year-end. 5.0% 3.5% 3.7% 3.0% 2023 2024 2025 2026F Weaker domestic demand is partly offset by resilient exports and tourism revenues, alongside a stronger agricultural output following a favorable harvest this year. We maintain our 2026 GDP growth forecast at 3.0% with downside risk due to high energy prices and weaker-than- expected economic activity. CBRT FUNDING RATE & CPI EXPECTATIONS (End of the Period) GDP GROWTH (YoY) 38.0% 40.0% 36.0% 30.9% 32.1% 30.0% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% Dec-23 Mar-24 Jun-24 Sep-24 Dec-24 Mar-25 Jun-25 Sep-25 Dec-25 Mar-26 Jun-26 Sep-26 Dec-26 CBRT Funding Rate Annual CPI TURKISH ECONOMY (I/II)
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4 9M26 CONSOLIDATED EARNINGS PRESENTATION -3.6% -0.8% -1.9% -2.7% 2023 2024 2025 2026F Current account balance signal better than expected trend, supported by substitution effects on exports, resilient tourism revenues, weaker than expected domestic demand and increasing share of renewables in electricity production. CA DEFICIT / GDP (year end) CG BUDGET DEFICIT / GDP (year end) -5.1% -4.7% -2.9% -3.2% 2023 2024 2025 2026F Improved income tax collection and restrained spending have supported the budget balance. TURKISH ECONOMY (II/II) -49bn$-30bn$-14bn$-42bn$
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9M26 FINANCIALS
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9M26 CONSOLIDATED EARNINGS PRESENTATION NET INCOME (TL bn) Quarterly 33.6 30.8 33.8 1Q26 2Q26 3Q26 84.5 98.2 9M25 9M26 Cumulative 10% QoQ +16% YoY UNMATCHED EARNINGS PERFORMANCE SUSTAINED 9M26 ROAE 27.5% 9M26 ROAA 2.6% LEVERAGE 10.7x CET-1 12.0% Strong NII and robust fee generation more than offset higher provisioning costs, underscored high quality earnings performance.
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7 9M26 CONSOLIDATED EARNINGS PRESENTATION 8.4 7.5 103.9 141.2 127.6 200.3 9M25 9M26 SUSTAINABLY STRONG CORE BANKING REVENUES CORE BANKING REVENUE (TL bn) Quarterly 5.5 2.4 (0.5) 42.9 47.9 50.4 64.9 60.6 74.7 1Q26 2Q26 3Q26 +5% (120%) +23% +12% 113.2 Core NII (incl. swap, excl. Net CPI impact) Net F&C Core Banking Revenue Trading excl. Swap & ECL currency hedge 111.0 Strong NII generation, alongside sustained fee momentum and growing subsidiary contributions, continued to reinforce core banking revenue growth. Cumulative QoQ +36% (12)% +57% +45% Core NII (incl. swap, excl. Net CPI impact) Net F&C Core Banking Revenue Trading excl. Swap & ECL currency hedge 240.0 348.9 Consistent delivery of diversified, high-quality core banking revenues provides a solid foundation for sustainable earnings growth. 124.6 YoY
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9M26 CONSOLIDATED EARNINGS PRESENTATION PERFORMING LOANS (TL, US $ billion) LENDING DRIVEN ASSET MIX CONTINUES TO BE THE MAIN DIFFERENTIATOR Performing Loans; 55.9% Securities; 10.7% Assets held for sale and discontinued operations, 4.3% Balances w/ CBRT; 14.5% Cash & Banks; 6.2% Fixed Assets & Subs. ; 1.6% Other (incl. NPLs); 6.9% ASSET BREAKDOWN TL 5.6tr 7% QoQ 23% YtD 56% 59% bank-only vs. sector: 51%* Highest share of Loans in assets * Sector data is based on BRSA August monthly data among commercial banks. 1,653 1,918 2,082 19.9 20.9 21.2 2025 1H26 9M26 $ QoQ TL FC (in US $) Total 3,1192,890 $ YtD $ 2,632 +8% +25% +9% +26% +1% +7% SECURITIES (TL, US $ billion) 326 375 387 4.0 4.3 4.3 2025 1H26 9M26 TL FC (in US $) Total QoQ 575 YtD 550 +3% +18% +4% +20% (1%) +7% 596 $ $ $ 1: In 9M26, due to the ongoing sale process of our Romania subsidiary, related balance sheet items have been reclassified under “Assets held for sale and discontinued operations.” $3.0Romania $1.2Romania Excl. Romania for fair comparison Excl. Romania for fair comparison Excl. Romania for fair comparison Excl. Romania for fair comparison 1 1 1 1 1
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9M26 CONSOLIDATED EARNINGS PRESENTATION 9 TL PERFORMING LOAN BREAKDOWN MARKET SHARE GAINS IN ALL SEGMENTS REINFORCED LEADERSHIP IN TL LENDING (67% of total performing loans) TL PERFORMING LOAN GROWTH (%) 6% 9% 6%8% 5% 10%8% 10% 9% 1Q26 2Q26 3Q26 Consumer (exc. CCs) TL Business (incl. SMEs & Corporate CCs) Consumer Credit Cards +8% +8%TL Loans +9% MARKET SHARE (among priv. comm’l banks) 2025 2Q26 3Q26 TL loans 22.1% 21.6% 22.4% TL Business (inc. SMEs & Corp.CCs) 20.4% 19.3% 20.6% TL Micro & Small Enterprises 24.2% 26.2% 26.1%1 Consumer (excl. CCs) 23.3% 23.1% 23.4% Consumer GPL (incl. overdraft) 21.6% 21.6% 22.2% Consumer Mortgage 29.8% 28.7% 28.3% Consumer Credit Cards 23.6% 24.0% 24.5% Sector figures used in market share calculations are based on bank-only BRSA weekly data as of 25.09.2026, for private commercial banks. 1 As of August 2026. LEADER IN TL LOANS, CONSUMER LOANS AND CREDIT CARDS Mortgage, 5.6% Auto, 0.4% GPL & Overdraft, 21.2% Consumer Credit Cards, 30.7% Corp. & Comm. (incl. Corp. Cards); 11.8% SME (BRSA Defined), 30.3% Salary customers share in new GPL originations 56% TL 2.1tr
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9M26 CONSOLIDATED EARNINGS PRESENTATION 10 LOANS & RECEIVABLES PORTFOLIO BREAKDOWN (TL bn) INCREASE IN STAGE-2 RELATES TO RETAIL FLOWS (14% of gross loans) Stage 1, 2,787 Stage 2, 473 Stage 3 (NPL), 131 TL 3.4tr STAGE-2 BREAKDOWN (TL bn) SICR1 (Quantitative) Restructured Watchlist 308bn 1Q26 2Q26 Past Due Consumer loans (inc. CCs) share in Stage-2 55% vs. 51% in 2025 vs. 43% in 2024 Stage-2 Coverage 6.1% vs. 8.6% in 2025 vs. 12.3% in 2024 FC coverage 12% TL coverage 5% Decline in Stage-2 coverage mainly reflects prudent increase in SICR portfolio. 85% of the SICR Portfolio is non-delinquent 473bn 3Q26 8% 14% 35% 43% 7% 15% 32% 47% 7% 9% 29% 55% 377bn
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9M26 CONSOLIDATED EARNINGS PRESENTATION 22.9 29.7 39.9 -6.5 -9.9 -11.6-5.9 -3.6 -7.7 11 (3.9% of gross loans and receivables) NPL & NPL FLOW (TL bn, quarterly) New NPL Collection NPL sale Write-down 1Q26 2Q26 Net Flow: 19.9 Net Flow: 16.4 Net Flow: 28.3 NPL ratio (incl. Leasing & factoring) NPL (TL bn) Consumer loans (inc. CCs) share in Stage-3 52% vs. 55% in 2025 vs. 31% in 2024 Total Coverage 3.6% vs. 3.1% in 2025 vs. 3.3% in 2024 Stage-3 Coverage 62% vs. 63% in 2025 vs. 67% in 2024 3Q26 3.9% 131 3.2% 3.5% 92 110 HIGHER NPL INFLOWS FROM CONSUMER & CREDIT CARDS IN LINE WITH EXPECTATIONS
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12 9M26 CONSOLIDATED EARNINGS PRESENTATION 20.4 58.9 9M25 9M26 1.2% 2.6% COST OF RISK INCREASE MAINLY LED BY RETAIL NPL INFLOWS & NORMALIZING PROVISION REVERSALS NET PROVISIONS & NET COR EXCL. CURRENCY (TL bn,%) Quarterly Cumulative 1.9% 2.7% 3.1% 13.6 20.0 25.3 1Q26 2Q26 3Q26 The uptick in quarterly CoR primarily reflected increased NPL inflows in consumer loans and credit cards. 9M25 CoR positively impacted from an exceptionally large provision reversal. The normalization of provision reversals and increased NPL flows resulted in a higher blended Cost of Risk in 9M26. Note: Provision reversals include write-down reversals, please see Appendix for details. Net CoR excludes currency effect, as it is 100% hedged and has no bottom line impact. Currency depreciation impact 9M26: 10bps, 3Q26: 11bps
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9M26 CONSOLIDATED EARNINGS PRESENTATION Total Demand Deposits; 25.3% Total Time Deposits; 40.2% Merchant Payables; 4.2% Borrowings1; 10.3% Interbank Money Market; 2.4% SHE; 9.4% Liabilities for assets held for sale & discontinued operations, 3.5% Other ; 4.7% 22.2 22.0 21.9 9.7 8.8 12.3 2025 1H26 9M26 281 301 331 1,334 1,718 1,623 2025 1H26 9M26 TL CUSTOMER DEPOSITS (TL bn) (54% of customer deposits) STRATEGICALLY MANAGED FUNDING STRUCTURE High share of free capital & demand deposits LIABILITIES & SHE BREAKDOWN TL 5.6tr 29% Bank-only 33% in 2Q26 vs. private peer avg. of 25% Free Funds / Avg. IEA QoQ Demand Time Total YtD (3%) +21% +10% +18% (6%) +22% FC CUSTOMER DEPOSITS (US $ bn) QoQ YtD 0% (1%) +11% +7% +41% +27% 2,019 1,615 1,954 $35.7 $30.8 $34.2 Demand Time Total 1 Includes bonds issued, funds borrowed, sub-debt 2 In 9M26, due to the ongoing sale process of our Romania subsidiary, related balance sheet items have been reclassified under “Liabilities for assets held for sale and assets of discontinued operations.” YtD Growth excludes Romania impact for fair comparison Free funds: Equity – FC Reserve Requirements – Net NPL – Subsidiaries- Fixed Assets + Demand Deposits. Peer average is per latest available 2Q26 data for top 4 private banks $3.8Romania 2 2
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9M26 CONSOLIDATED EARNINGS PRESENTATION Bilateral 0.5% MTN; 39% Secured Finance; 2% Securitisation (DPR); 17% Syndication; 10% Subdebt; 32% 14 EXTERNAL DEBT BREAKDOWN (as of September) STRATEGICALLY MANAGED FUNDING STRUCTURE $ 9.9bn EXTERNAL DEBT VS. FC QUICK LIQUIDITY1 $4.3bn ST External Debt $8.6bn FC Liquidity Buffer Diversified funding mix with capital optimization and sustainability focus 1 FC Liquidity Buffer includes Swaps, money market placements, CBRT eligible unencumbered securities $125mn Sustainable Tier II Issuance Proceeds support the Bank’s capital structure, green investments by micro- enterprises and SMEs, and women entrepreneurs’ access to finance. €400mn DPR issuance On October 20th, the Bank has successfully completed DPR issuances with maturities of over 5 and 7 years $5.6bn External Debt w/ >1 yr maturity ABS issuance Outstanding ABS issuance TL 1.7bn as of 30 Sept 2026
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9M26 CONSOLIDATED EARNINGS PRESENTATION Core NIM 15 NIM INCL. SWAP COST1 STRONG MARGIN RECOVERY DRIVEN BY LOWER FUNDING COSTS AND DISCIPLINED PRICING Quarterly Cumulative 6.6% 5.8% 6.6% -0.5% -0.4% -0.3% 1Q26 2Q26 3Q26 5.5% +85bps QoQ CPI Net Impact (Income-Funding cost) 5.3% 5.8% 6.4% -0.4% -0.4% -0.4% 9M25 2025 9M26 5.4% 6.0% +60bps YtD TL LOAN - DEPOSIT SPREAD2 Quarterly, Outstanding Strong recovery in NII (+26% QoQ, +59% YoY) maintaining best-in-class NII and NIM levels (incl. swap costs) Declining funding costs emerged as a key driver of margin expansion in 3Q26. CPI estimate used in valuation revised up to 29% (vs. 27% in 1H26; 23% in 1Q26) Please refer to Appendix P&L for CPI linkers’ income and swap costs 1 Calculated based on Consolidated BRSA financials. TL reserves are taken into account in the calculation of IEAs. 2 Based on MIS data, using Daily averages. In the calculation of TL loan yields, CC related interest income is deducted from the numerator and CC volume is deducted from denominator as only ~35% of CC balances are interest bearing. 6.1% 5.7% 4.4% 5.5% 44.0% 44.4% 45.1% 38.3% 40.0% 39.7% 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% 16.0% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 1Q26 2Q26 3Q26 Spread TL Loan (excl. CC) TL Time Deposit 6.3% 5.0% +97bps YoY
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9M26 CONSOLIDATED EARNINGS PRESENTATION 16 NET F&C BREAKDOWN (Bank-only)1 ROBUST FEE GROWTH SUSTAINEDWITH INCREASING CONTRIBUTION FROM PAYMENT SYSTEMS NET FEES & COMMISSIONS(TL bn) 103.9 141.2 9M25 9M26 42.9 47.9 50.4 1Q 2Q YoY +36% +5% QoQ Cash Loans, 7.3% Non-Cash Loans, 4.0% Brokerage + AM, 5.3% Money Transfer, 8.2% Insurance, 7.0% Payment Systems, 67.5% #1Payment Systems +32% Money Transfer +40% Insurance +61% Brokerage + AM +63% #1 #1 YoY EXPANDING CUSTOMER BASE INCREASING DIGITAL PENETRATION PROACTIVE SERVICE WITH SMART ASSISTANT UGI Annual increase in number of customers 31.8mn 1 in every 2 banking customers in Türkiye is a Garanti BBVA customer. + 2.3mn Digital active customers (+1.2mn YoY increase) 16.7mn/ daily log-in on average 1 in every 5 mobile banking transactions in Türkiye is conducted through Garanti BBVA Mobile 18.9mn 350+ topics All generic content transformed to LLM (powered by OpenAI), covering 350+ different topics 9.6mn Number of customers reached by our digital assistant UGİ through mobile channels >73mn chat 1 Net Fees&Comm. breakdown is based on bank-only MIS data. Rankings are among private banks 30.2 34.9 38.8 2Q1Q 3Q 3Q #1 Retail Mass, SME, Commercial & Mobile Banking NPS score
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9M26 CONSOLIDATED EARNINGS PRESENTATION 17 OPERATING EXPENSES (TL bn) OPEX GROWTH FARING IN-LINE WITH BUDGET Including salary adjustment in the 3Q Quarterly Cumulative 20.1 21.1 33.5 38.0 2Q26 3Q26 HR Non-HR 53.6 QoQ +10% +13% +5% 59.1 41.6 60.5 79.2 106.4 9M25 9M26 120.8 YoY Non-HR HR 167.0 +38% +34% +46% Fee/OPEX 85% 46% Cost/Income Note: Income defined as NII inc. Swaps + Net F&C + Dividend Income +Subsidiaries income + Net Trading Income (excludes swaps & currency hedge) + Other income (net of prov. Reversals) Bank-only 92% in 1H26 vs. private peer avg. of 86% Bank-only 44% in 1H26 vs. private peer avg. of 57%
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9M26 CONSOLIDATED EARNINGS PRESENTATION 18 SOLVENCY RATIOS ROBUST SOLVENCY REFLECTS CAPITAL-GENERATIVE GROWTH STRATEGY 13.1% 11.9% 12.0% 17.5% 15.9% 16.1% 2025 2Q26 3Q26 CET1 CAR * USDTRY 42.89 46.62 48.97 Excess Capital1 TL 169bn 11bps FX Sensitivity CAR sensitivity to 10% TL depreciationConsolidated 17.5% 16.1% 2.27% -2.18% -0.13% -0.79% -0.52% -0.11% -0.15% 0.15% 0.09% Net Income 9M262025 FX Effect OtherMarket & Credit Risk Operational Risk (calculated annually under Basic Indicator Approach) Dividend Payment HTCS Valuation Subdebt Amortization Impact Subdebt Issuance (125 mn USD) 2Q26 – 3Q26 CAR EVOLUTION (Consolidated) 2025 – 9M26 CAR EVOLUTION(Consolidated) 1 Required Consolidated CAR level = 8.0% + SIFI Buffer for Group 2 (1.5%) + Capital Conservation Buffer (2.5%) + Counter Cyclical Buffer (0.16%); Required Consolidated Tier-I =6.0% + Buffers; Required Consolidated CET-1= 4.5%+Buffers. * 2025 capital ratios are presented without BRSA’s forbearance. CAR and CET-1 ratios presented in the 2025 YE financial statements included the forbearance impact of 1.84% and 1.5%, respectively. BRSA Forbearance Rule has been removed as of January 1st, 2026. 15.9% 16.1% 0.78% -0.52% -0.05% 0.15% -0.07% -0.04% Net Income 3Q262Q26 FX Effect OtherMarket & Credit Risk Subdebt Issuance (125 mn USD) HTCS Valuation
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9M26 CONSOLIDATED EARNINGS PRESENTATION Dec-25 Jan-26 Feb-26 Mar-26 Apr-26 May-26 Jun-26 Jul-26 Aug-26 Sep-26 Oct-26 Nov-26 Dec-26 19 2026 OPERATING PLAN GUIDANCE MACRO FORECAST Dec-25 Jan-26 Feb-26 Mar-26 Apr-26 May-26 Jun-26 Jul-26 Aug-26 Sep-26 Oct-26 Nov-26 Dec-26 38% 36% 40% 37% 35% 34% 33.5% 33% 32.5% 32% 37% 35% April Baseline Jan. Baseline 36% Sept Baseline 37% 36.5% 36% 35.5% CBRT FUNDING RATE EXPECTATIONS INFLATION EXPECTATIONS 25% 30% Jan. Baseline Sept Baseline 28.5% April Baseline 2026 OPERATING PLAN GUIDANCE Note-1: The 2026 Operating Plan Guidance that was shared in January takes into consideration that all regulations are in place as of February 4, 2026 are not changed and no new material regulations are implemented Note-2 Net CoR excludes currency effect, as it is 100% hedged and has no bottom line impact Per January Baseline 9M26 Actual Current Outlook TL Loan Growth (YoY) 30-35% +39% (YoY) In-line FC Loan Growth (YoY, in US$) Mid single digit +11% (YoY, excl. Romania for fair comparison) In-line Net Cost of Risk (exc. currency impact) 2 - 2.5% 2.6% Slightly higher NIM incl. swap cost (YoY, change) ~75bps expansion +97 bps (YoY) Slightly better Fee Growth (YoY) ~30-35% +36% (YoY) In-line OPEX Growth (YoY) ~45-50% +39% (YoY) Better ROAE (%) Mid-single digit Positive Real ROE 27.5% Downside risk on real return due to higher inflation
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Q&A SESSION
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9M26 CONSOLIDATED EARNINGS PRESENTATION Sector Breakdown of Gross Loans FC Loan Breakdown Maturity Profile of External Debt Securities Portfolio Quarterly & Cumulative Net Cost of Risk PG. 23 PG. 24 PG. 25 Summary P&L Summary Balance Sheet Key Financial Ratios Market Shares Appendix PG. 22 PG. 26 PG. 27 PG. 28 PG. 29 PG. 30
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9M26 CONSOLIDATED EARNINGS PRESENTATION 22 APPENDIX: SUMMARY P&L QUARTERLY P&L CUMULATIVE P&L TL Million 1Q26 2Q26 3Q26 QoQ 9M25 9M26 YoY (+) Net Interest Income including Swap costs 60,072 56,985 71,538 26% 118,976 188,596 59% (+) Income on CPI linkers 5,995 8,057 9,266 15% 25,102 23,317 -7% (-) Swap Funding Cost - 11,360 - 10,742 - 15,342 43% - 15,016 - 37,443 149% (+) Net Fees & Comm. 42,860 47,877 50,424 5% 103,949 141,161 36% (+) Net Trading & FX gains/losses (excl. Swap costs and currency hedge) 5,517 2,439 - 493 -120% 8,446 7,463 -12% info: Gain on Currency Impact1 553 785 941 20% 6,160 2,279 -63% (+) Income from investments under equity 768 1,100 993 -10% 2,032 2,861 41% (+) Other income (excl. Prov. reversals) 8,370 7,088 9,250 30% 19,896 24,708 24% (-) OPEX - 54,276 - 53,640 - 59,076 10% - 120,814 - 166,992 38% (-) HR - 19,384 - 20,109 - 21,056 5% - 41,572 - 60,549 46% (-) Non-HR - 34,892 - 33,531 - 38,020 13% - 79,242 - 106,443 34% (-) Net Expected Loss (excl. Currency impact) - 13,573 - 19,961 - 25,319 27% - 20,355 - 58,853 189% (-) Expected Loss - 30,463 - 28,887 - 31,178 8% - 57,251 - 90,528 58% info: Currency Impact1 - 553 - 785 - 941 20% - 6,160 - 2,279 -63% (+) Provision Reversal under other Income 16,336 8,142 4,918 -40% 30,736 29,396 -4% (-) Taxation and other provisions - 16,522 - 11,509 - 14,165 23% - 28,941 - 42,196 46% (-) Taxation - 14,100 - 12,373 - 13,761 11% - 28,685 - 40,234 40% (-) Other provisions - 2,422 864 - 404 -147% - 256 - 1,962 666% (+) Net gains from Discontinued Activities 400 419 625 49% 1,285 1,444 12% (+)Revenue from Discontinued Activities 483 510 754 48% 1,475 1,747 18% (-)Taxation on Revenues from Discontinued Activities - 83 - 91 - 129 42% - 190 - 303 59% = NET INCOME 33,615 30,799 33,777 10% 84,474 98,191 16% 1 Neutral impact at bottom line, as provision increase due to currency depreciation are 100% hedged (FX gain included in Net trading income line)
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9M26 CONSOLIDATED EARNINGS PRESENTATION 23 APPENDIX: SUMMARY BALANCE SHEET ASSETS 31.12.2025 31.03.2026 30.06.2026 30.09.2026 Cash & Cash Equivalents 437.8 374.7 373.0 346.2 Balances at CBRT 568.3 493.7 732.7 809.3 Securities 550.1 645.5 575.5 595.8 Gross Loans 2,810.7 2,865.9 3,113.3 3,391.0 +TL Loans 1,730.9 1,869.1 2,023.0 2,206.8 TL NPL 78.2 88.0 105.0 124.6 info: TL Performing Loans 1,652.6 1,781.1 1,918.0 2,082.2 +FC Loans (in US$ terms) 23.0 20.2 20.9 21.2 FC NPL (in US$ terms) 0.1 0.1 0.1 0.1 info: FC Performing Loans (in US$ terms) 22.8 20.2 20.9 21.2 info: Performing Loans (TL+FC) 2,631.9 2,677.4 2,890.2 3,118.6 Fixed Assets & Subsidiaries 79.6 81.5 85.3 89.0 Other 101.3 322.4 336.7 349.6 Assets held for sale and discontinued operations 5.0 221.2 227.3 238.0 TOTAL ASSETS 4,547.8 4,783.8 5,216.5 5,580.8 LIABILITIES & SHE 31.12.2025 31.03.2026 30.06.2026 30.09.2026 Total Deposits 3,150.0 3,166.8 3,466.1 3,653.7 +Demand Deposits 1,277.5 1,311.8 1,333.1 1,411.0 TL Demand 280.8 271.9 305.2 336.7 FC Demand (in US$ terms) 23.2 23.4 22.1 21.9 +Time Deposits 1,872.6 1,855.0 2,133.0 2,242.7 TL Time 1,336.6 1,423.4 1,721.0 1,626.3 FC Time (in US$ terms) 12.5 9.7 8.8 12.6 Interbank Money Market 87.5 70.1 111.7 135.9 Bonds Issued 170.8 172.8 186.5 196.9 Funds Borrowed 317.1 297.3 344.2 377.3 Other liabilities 375.8 439.9 433.8 501.3 Liabilities for assets held for sale & discontinued operations 0 184 185 193 Shareholders’ Equity 446.6 453.1 489.4 522.7 TOTAL LIABILITIES & SHE 4,547.8 4,783.8 5,216.5 5,580.8 (TL billion) Note: In 1Q26 & 2Q26 and 3Q26, due to the ongoing sale process of our Romania subsidiary, related balance sheet items have been reclassified under “Assets held for sale and discontinued operations.".
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9M26 CONSOLIDATED EARNINGS PRESENTATION 24 APPENDIX: KEY FINANCIAL RATIOS Sep-25 Dec-25 Mar-26 June-26 Sep-26 Profitability ratios ROAE (Cumulative) 30.9% 29.1% 30.3% 28.1% 27.5% ROAA (Cumulative) 3.1% 2.9% 2.9% 2.7% 2.6% NIM incl. swap (Quarterly) 5.1% 6.3% 6.1% 5.5% 6.3% NIM incl. swap (Cumulative) 5.0% 5.4% 6.1% 5.7% 6.0% Cost/Income 48.0% 48.8% 46.2% 46.3% 45.8% Liquidity ratios Loans / Deposits 82.7% 83.6% 84.5% 83.4% 85.4% TL Loans / TL Deposits 100.5% 102.2% 105.1% 94.7% 106.1% TL Loans / (TL Deposits + TL Bonds + Merchant Payables) 91.4% 92.3% 94.2% 86.1% 94.6% FC Loans / FC Deposits 64.0% 63.9% 60.9% 67.5% 61.3% Asset quality ratios NPL Ratio 2.8% 3.1% 3.2% 3.5% 3.9% Coverage Ratio 3.0% 3.1% 3.1% 3.4% 3.6% + Stage1 0.4% 0.4% 0.3% 0.4% 0.4% + Stage2 9.1% 8.6% 7.5% 7.2% 6.1% + Stage3 63.0% 62.8% 62.8% 62.7% 62.3% Cumulative Net Cost of Risk (excluding currency impact, bps)1 124 151 194 231 258 Solvency ratios CAR 16.3% 17.5% 16.2% 15.9% 16.1% Common Equity Tier I Ratio 12.7% 13.1% 12.0% 11.9% 12.0% Leverage (Asset /Equity) 10.2x 10.2x 10.6x 10.7x 10.7x 1 Neutral impact at bottom line, as provision increase due to currency depreciation are 100% hedged (FX gain included in Net trading income line)
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9M26 CONSOLIDATED EARNINGS PRESENTATION Market Shares among private banks1 Dec-25 Jun-26 Sept-26 QoQ YtD Rank TL Performing Loans 22.1% 21.6% 22.4% 79 bps 34 bps #1* FC Performing Loans 16.1% 15.8% 15.5% -26 bps -55 bps #2* Consumer Loans inc. Consumer CCs 23.5% 23.6% 24.0% 41 bps 51 bps #1* Cons. Mortgage Loans 29.8% 28.7% 28.3% -41 bps -149 bps #1* Consumer Auto Loans 38.9% 41.1% 37.8% -332 bps -114 bps #1* Cons. General Purpose Loans (incl. Overdraft) 21.6% 21.6% 22.2% 60 bps 62 bps #1* TL Business Banking 18.8% 17.9% 18.9% 100 bps 9 bps #2* TL Micro & Small Enterprises 24.2% 26.2% 26.1%2 -7 bps 188 bps n.a TL Customer Deposits 21.1% 22.6% 20.9% -169 bps -28 bps #1* FC Customer Deposits 18.9% 17.8% 18.8% 104 bps -9 bps #2* APPENDIX: MARKET SHARES Payment Systems Market Share Dec-25 Jun-26 Sept-26 QoQ YtD Rank # of CC customers3 14.7% 14.8% 15.0% 12 bps 30 bps #1 Issuing Volume (Cumulative) 3 17.3% 17.4% 17.5% 8 bps 19 bps #1 Acquiring Volume (Cumulative) 3 15.8% 15.4% 15.6% 20 bps -17 bps #1 1 Sector figures used in market share calculations are based on bank-only BRSA weekly data as of 25.09.2026, for commercial private banks 2 As of August 2026. BRSA-defined SME loan figures since May 2025 include customers who were temporarily excluded from the SME category, as their 2025 financials had not yet been submitted to the Bank's system. 3 Cumulative figures and rankings as of September 2026, as per Interbank Card Center data. Rankings are among private peers. * Rankings are among private banks as of June 2026
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9M26 CONSOLIDATED EARNINGS PRESENTATION 26 APPENDIX: SECTOR BREAKDOWN OF GROSS LOANS 42.4% 3.3% 7.9% 4.8% 5.0% 6.6% 2.4% 3.5% 2.8% 4.0% 2.3% 3.9% 2.4% 9M26 Retail Loans Infrastructure Retailer Other Services Construction Textile & Made Mining, Metals & Other Metal Prod. Agriculture & Farming Paper, Chemical & Plastics Tourism & Entertainment Real Estate Energy (Generation, Distribution, Oil & Refinery) Finance SECTOR BREAKDOWN OF GROSS LOANS1 TL 2.9tr Key Sectors Stage 1 Stage 2 Stage 3 Stage 1 Stage 2 Stage 3 Retail 73% 21% 6% 0.5% 4.3% 63.9% Energy 71% 26% 4% 0.3% 20.4% 80.2% Construction 86% 10% 5% 0.6% 4.9% 61.9% Textile & Made 77% 17% 6% 0.5% 12.9% 62.3% Tourism & Entertainment 85% 13% 2% 0.5% 4.4% 68.7% Real Estate 76% 21% 3% 0.4% 14.9% 53.1% 1 Based on Bank-only MIS data ENERGY, 12% AGRICULTURE, FARMING OF ANIMALS&FOOD, 3% REAL ESTATE, 8% RETAIL, 42% TOURISM AND ENTERTAINMENT, 2% RETAILER, 3% INFRASTRUCTURE, 5% FORESTRY&NON METAL MINERAL PRODUCTS, 3% OTHER, 17% SECTOR BREAKDOWN OF STAGE 2 EXCLUDING SICR1 % SHARE COVERAGE RATIO
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9M26 CONSOLIDATED EARNINGS PRESENTATION 27 APPENDIX: CLOSELY MONITORED AND WELL-PROVISIONED FC LOANS 36.9% 26.1% 33.1% 9M26 107.5 103.5 133.8 157.1 169.3 9.3 10.2 11.6 13.7 13.8 6.0 8.0 10.0 12.0 14.0 16.0 18.0 20.0 -30.0 20.0 70.0 120.0 170.0 (33% of total performing loans) US$ 13.8 bn 1 Based on BRSA weekly data , commercial banks. Export Loans FX revenue generation Sector1 Garanti BBVA Market Share Regular conduct of FX sensitivity analysis for proactive staging and provisioning Project Finance Loans 62.0% of PF Loans have FX or FX-linked revenues - no currency risk 26.0% has lower currency risk 12.0% - with some currency risk 8.7% 2022 Working Capital & Other Loans FX loans predominantly to big corporate, commercial clients & multinationals 9.8% 2023 FC LOANS (in $ bn) 2024 8.7% 2025 8.7% 9M26 8.2% FC PERFORMING LOANS US$ 7.3bn US$ 21.2bn GBI and GB Romania loan placements Natural hedge +
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28 9M26 CONSOLIDATED EARNINGS PRESENTATION 28 APPENDIX: MATURITY PROFILE OF EXTERNAL DEBT $0.2 $1.1 $0.9 $0.8 $0.8 $0.1 $0.1 $0.1 $1.7 $0.2 $0.3 $0.5 $0.6 $2.6 2026 2027 2027 2027 >=2027 Q4 Bilateral MTN Covered Bond Secured Finance Securitisation Syndication Subdebt Eurobond Postfinance (US$ billion) $0.4 $5.6 $1.1 $0.9 $1.9 MATURITY PROFILE OF EXTERNAL DEBT
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9M26 CONSOLIDATED EARNINGS PRESENTATION Dec -25 Jun -26 Sep -26 4.0 Dec -25 Jun -26 Sep -26 326 375 387 4.0 7.0 4.3 Dec -25 Jan -26 Sep -26 FC TL Financial Assets Measured at FVTPL, 4.6% Financial Assets Measured at FVOCI, 39.3% Financial Assets Measured at Amortised Cost, 56.2% 29 APPENDIX: SECURITIES PORTFOLIO TOTAL SECURITIES (TL bn) 11% of Total Assets +20%1 +4% 550 575 TL SECURITIES (TL bn) Other FRN 4% CPI: 40% Fixed: 55% +18% 318 +3% Other FRN 17% Fixed: 49% CPI: 38% CPI: 34% FC SECURITIES (USD bn) 5.2 (18%) (1%) 4.3 SECURITIES COMPOSITION 596 376 Other FRN 15% Fixed: 52% CPI: 33% $1.2 Represents FC Securities balance at our Romanian subsidiary. Note: Fixed - Floating breakdown of securities are based on bank-only financials 1: In 9M26, due to the ongoing sale process of our Romania subsidiary, related balance sheet items have been reclassified under “Assets held for sale and discontinued operations.". YtD growth rate in securities excl. Romania for fair comparison. 367 ConsolidatedBank-only + 9.7 7.7 + + 7.9326 387375 4.3$1.2 Represents FC Securities balance at our Romanian subsidiary.
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9M26 CONSOLIDATED EARNINGS PRESENTATION 30 APPENDIX: QUARTERLY & CUMULATIVE NET CoR Cumulative Net Expected Credit Loss 9M25 9M26 (-) Expected Credit Losses 57,251 90,528 Stage 1 8,831 12,643 Stage 2 15,320 20,494 Stage 3 33,100 57,391 (+) Provision Reversals under other income 30,736 29,396 Stage 1 10,805 8,655 Stage 2 11,393 7,775 Stage 3 6,148 10,276 Write-down reversals 2,390 2,690 (=) (a) Net Expected Credit Losses 26,515 61,132 (b) Average Gross Loans & Receivables 2,192,105 3,045,211 (a/b) Cumulative Total Net CoR (bps) 162 268 info: Currency Impact1 38 10 Total Net CoR excl. currency impact (bps) 124 258 (Million TL) (Million TL) Quarterly Net Expected Credit Loss 1Q26 2Q26 3Q26 (-) Expected Credit Losses 30,463 28,887 31,178 Stage 1 5,451 3,352 3,840 Stage 2 9,653 6,459 4,382 Stage 3 15,359 19,076 22,956 (+) Provision Reversals under other income 16,336 8,142 4,918 Stage 1 6,175 1,404 1,076 Stage 2 5,244 1,494 1,037 Stage 3 4,232 3,262 2,782 Write-down reversals 685 1,982 23 (=) (a) Net Expected Credit Losses 14,127 20,746 26,260 (b) Average Gross Loans & Receivables 2,838,284 2,989,593 3,252,138 (a/b) Quarterly Total Net CoR (bps) 202 278 320 info: Currency Impact1 8 11 11 Total Net CoR excl. currency impact (bps) 194 268 309 1 Neutral impact at bottom line, as provisions due to currency depreciation are 100% hedged (FX gain included in Net trading income line)
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31 9M26 CONSOLIDATED EARNINGS PRESENTATION DISCLAIMER STATEMENT Investor Relations Levent Nispetiye Mah. Aytar Cad. No:2 Beşiktaş 34340 Istanbul – Turkey Email: investorrelations@garantibbva.com.tr Tel: +90 (212) 318 2352 www.garantibbvainvestorrelations.com Türkiye Garanti Bankasi A.Ş. (“Garanti BBVA”) has prepared this presentation document (the “Document”) thereto for the sole purposes of providing information which include forward looking projections and statements relating to Garanti BBVA (the “Information”). No representation or warranty is made by Garanti BBVA for the accuracy or completeness of the Information contained herein. The Information is subject to change without any notice. Neither the Document nor the Information can construe any investment advise, or an offer, invitation or solicitation to purchase or subscribe to Garanti BBVA shares or any other securities or other instruments or to undertake or divest investments. This Document and/or the Information cannot be copied, disclosed or distributed to any person other than the person to whom the Document and/or Information delivered or sent by TGB or who required a copy of the same from the TGB. Furthermore, the investment information, comments and advices given herein are not part of investment advisory activity. Investment advisory services are provided by authorized institutions to persons and entities privately by considering their risk and return preferences. Therefore, they may not fit to your financial situation and risk and return preferences. For this reason, making an investment decision only by relying on the information given herein may not give rise to results that fit your expectations. Garanti BBVA shall have no liability whatsoever (in negligence or otherwise) for any damage, loss or expense that may be incurred by third parties howsoever arising from any use of this Document or Information.