Slides
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Third Quarter 2026 Earnings Results
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Key Results: Solid Performance in 3Q26 2 Strong Net Income and Profitability Record Commercial Portfolio and Average Deposit Base Steady Margins and healthy Asset Quality Strong Non - Interest Income and Efficiency approaching guidance Commercial Book $15.0 Bn ↑ 15% QoQ | ↑ 38% YoY Average Deposits $7.7 Bn ↑ 6% QoQ | ↑ 22% YoY NIM 2.30% ↑ 6 Bps QoQ | ↓ 2 Bps YoY Impaired Credits to Credit Portfolio 0.4% ↓ 8 Bps QoQ | ↑ 29 Bps YoY Non - Interest Income $19.3 M ↓ 25% QoQ | ↑ 26% YoY Efficiency Ratio 25.8% ↑ 167 Bps QoQ | ↑ 2 Bps YoY Net Income $63.2 M ↓ 5% QoQ | ↑ 15% YoY Adjusted ROE 15.0% ↓ 145 Bps QoQ | ↓ 7 Bps YoY
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Continued Profitability Expansion (*) net profit - AT1 distribution / average stockholders' equity excluding other equity instruments3 Net Income, ROA & ROE 9M 2026 (USD millions, except for %) 37.0 51.3 51.7 56.4 37.1 50.1 64.2 66.5 45.8 53.0 55.0 63.2 9M 2023 9M 2024 9M 2025 9M 2026 119.8 154.4 170.9 186.0 Adj. ROE * 3Q26 15.0% 3Q 2Q 1Q ROA 9M 1.7% 1.9% 1.9% 1.9% Adj. ROE 9M * 14.4% 16.4% 16.3% 15.2%
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Record Commercial Portfolio Remain Well Diversified 4 Commercial Portfolio (Loans +Commercial Bonds Portfolio + Contingencies) Commercial Portfolio by Country Commercial Portfolio by Industry 10,872 13,029 13,974 1,002 3Q25 2Q26 3Q26 14,976 QoQ +7% Ex. Panama Tx +15% Panama Guatemala Colombia Brazil Mexico Dominican Republic Non - Latam Argentina Chile Ecuador Others 1 Financial Institutions Oil&Gas Other Services & Sovereign Electric Power Other Industries Wholesalers & Retailers Food and beverage Manufacturing Industries Other Commodities 11% 11% 9% 14,976 3Q26 14,976 3Q26 (1) Paraguay, Peru, Costa Rica, El Salvador, T & Tobago, Honduras and others. 25% 18% 11% 10% 7% 6% 5% 4% (USD millions, except for %) 17% 8% 8% 6% 6% 5% 5% 14% 14% Panama Gvt Tx Commercial Portfolio
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Strong Asset Quality, Low Credit Risk and Ample Reserve Coverage (1) Includes allowance for expected credit losses on loans at amortized cost, on loan commitments and financial guarantees co ntr acts, on securities at amortized cost and at fair value through other comprehensive income and on cash and due from banks5 Total Allowance for Credit Losses to Impaired Credits Exposure by Stages 138% (USD million) 3Q25 Allowance for losses 1 Balance at beginning of the period 95.1 2Q26 3Q26 112.3 93.8 Impairment losses (reversals) 6.5 - 11.0 9.5 (Write - offs) recoveries 0.0 - 7.5 0.3 End of period balance 101.5 93.8 103.6 99.1% 0.5% 0.4% Impaired Credits to Credit Portfolio (EoP) 0.2% 0.5% 0.4% $ 16.6 B n (USD millions, except for %) Stage 1 $ 16.4 Bn Stage 2 $ 82 M Stage 3 $ 75 M
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Record Deposit Base and Diversified Funding 6 3,154 (22%) 2,787 ( 20% ) 3Q26 Deposits Securities sold under repurchase agreement 6,836 ( 66% ) Long - term Borrowings and Debt 139 ( 1% ) 1,060 ( 10% ) 2,337 ( 23% ) 3Q25 7,890 ( 64% ) 274 ( 2% ) 1,410 (12%) 2,696 ( 22% ) 2Q26 7,912 ( 56% ) 247 ( 2% ) 10,372 12,270 14,100 Short - term Borrowings and Debt +36% 13% 23% 26% 36% 2% Multilateral Brokers Financial Institutions Corporations Central Banks / Class A 7,912 3Q26 Funding Sources Average Deposits (USD millions, except for %) Deposits Composition 6,266 7,206 7,660 3Q25 2Q26 3Q26 +22%
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Robust Capitalization Supports Business & Balance Sheet Expansion 7 12.5% 1.3% 2.0% 3Q25 11.3% 1.4% 1.6% 2Q26 11.3% 1.4% 1.6% 3Q26 15.8% 14.3% 14.3% Ordinary Common Tier 1 Other Regulatory Adjustments Additional Tier 1 Capital Reg. Min + Buffer (Capital Adequacy) 10.5% 15.9% 14.7% 14.4% 2.2% 1.9% 1.8% 3Q25 2Q26 3Q26 18.1% 16.6% 16.2% CET1 Capital Ratio (Basel III) Additional Tier 1 (Basel III) 9.25% Regulatory Minimum plus conservation buffer Capital adequacy ratio 1 (Panama regulatory) Tier 1 ratio 2 (Basel III) (1)As defined by the SBP. Other regulatory adjustments correspond to intangible assets, cash flow coverage reserves, treasury st ock and dynamic provisions to be taken in consideration in the calculation of the capital funds, according to Rule 01 - 2015 of the SBP. (2) Tier 1 Capital ratio is calculated according to Base l III capital adequacy guidelines, and as a percentage of risk - weighted assets. 9.25%
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6.57% 4.94% 3Q25 6.01% 4.37% 2Q26 6.12% 4.38% 3Q26 Record NII and Stable Margins 8 67.4 73.3 79.8 2.32% 3Q25 2.24% 2Q26 2.30% 3Q26 Rate of Interest Earning Assets Rate of Interest Bearing Liabilities NIS 1.73% Net Interest Margin Net Interest Income (USD MM) NIS 1.64% 11,531 13,121 13,758 Average Interest - Earning Assets Net Interest Spread (NIS) Net Interest Margin (NIM) (USD millions, except for %) NIS 1.64%
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Non - Interest Income contributes to revenue diversification 9 2.4 14.1 1.7 2.7 - 1.1 23.3 16.3 3Q25 0.5 2Q26 0.3 3Q26 15.4 25.6 19.3 19.0 +26% Fees and Commissions, net Quarterly Non - Interest Income 3.3 5.9 2.8 1.9 7.9 3.9 8.9 9.5 9.6 3Q25 2Q26 3Q26 14.1 23.3 16.3 +16% Letters of credit and guarantees Structuring services Credit Commitments and Other commissions ² , net Fees and commissions, net Client Derivatives, Sales of Financial Instruments and Other Income 1 Other Financial Instruments (1) Includes Gain (loss) on loans and investment securities, derivatives – intermediation and other income, net (2) Other commissions, net, include other fees and commissions income, net of fees and commission expenses Quarterly (USD millions, except for %)
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Operational Efficiency Remains Within Guidance 10 21.3 23.8 25.6 25.8% 3Q25 24.1% 2Q26 25.8% 3Q26 Opex & Efficiency Ratio Quarterly (USD millions, except for %)
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Closing Remarks 11
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Full Year 2026 Guidance Updated 12 Tier I Commercial Portfolio Growth Average Deposit Growth NIM Efficiency Ratio Adjusted ROE ~ 35% Updated Guidance ~ 20% ~2.25% ~27% 14% - 15% 15% - 16% Updated 13 - 15% Before 13 - 15% ~2.30% ~28%Updated Updated Updated
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Contact IR@bladex.com www.bladex.com/en/investors Carlos Raad Chief Investor Relations Officer craad@bladex.com Panama Diego Cano VP Investor Relations dcano@bladex.com Panama 13 Miguel Bolinaga Investor Relations - Analyst mbolinaga@bladex.com Panama