Full Year 2024 Financial Results 24 February 2025 Contents Annex 06 2024 Financial Highlights 01 Piraeus' Performance vs Peers 02 Business Plan 2025-2028 03 Financial Analysis 04 Sustainability 05 2024 Financial Highlights 01 2024 performance: €1.1bn net profit, €0.81 EPS and €0.30 cash dividend per share | 1 | €1.1bn net profit | +36% yoy, vs initial budget of €0.9bn and absorbing €0.2bn one-offs for transformation and cleanup | | --- | --- | --- | | 2 | +12% loan growth | €33.7bn loan book, up €3.6bn yoy, ...

Piraeus Financial Holdings S.A. ADR (OTCPK:BPIRY) Q4 2024 Earnings Call February 24, 2025 7:00 AM ET Company Participants Christos Megalou - Chief Executive Officer Theo Gnardellis - Chief Financial Officer Conference Call Participants Eleni Ismailou - Axia Ventures Kemeny Gabor - Autonomous Research Souvleros Andreas - Eurobank Equities Memisoglu Osman - Ambrosia Capital Nigro Alberto - Mediobanca Butkov Mikhail - Goldman Sachs Boulougouris Alexandros - Euroxx Securities Operator Ladies and gentlemen, than ...

Core Insights - Piraeus Bank is one of the largest financial institutions in Greece, providing a comprehensive range of services in retail, corporate, and investment banking [1] Group 1 - The bank has undergone significant transformation over the years, focusing on improving its operations and services [1]

Piraeus Financial Holdings S.A. (OTCPK:BPIRY) Q3 2024 Earnings Conference Call November 1, 2024 9:00 AM ET Company Participants Christos Megalou - Chief Executive Officer Theo Gnardellis - Executive General Manager and Group Chief Financial Officer Conference Call Participants Nida Iqbal - Morgan Stanley Mehmet Sevim - JPMorgan Chase & Co. Eleni Ismailou - AXIA Ventures Group Ltd Mikhail Butkov - Goldman Sachs Gabor Kemeny - Autonomous Research Alex Boulougouris - Euroxx Securities SA Sharada Patel - Citigr ...

Nine Month 2024 Financial Results 01 November 2024 III Piraeus Financial Holdings Contents 01 Executive Summary 02 Performance vs Peers 03 Financial Analysis 04 Sustainability 05 Annex III III Piraeus III Piraeus executive Summ Καλώς ήρθατε στην Τράπεζα Πειραιώς III Piraeus Welcome to Piraeus Bank! 上 发生 08:00-14:00 Weeking Hours Menday Friday ECE&smptyn vinorήριξη για Αμελ 曲 & @ R Specialized support Int people with cisabilities piraeusbank.gr Record 9M net profit at €932mn and EPS €0.72; 35% upgraded 2024 ...

Financial Data and Key Metrics Changes - Piraeus Financial Holdings reported a normalized net profit of €333 million in Q2 2024, contributing to a total of €612 million for the first half of the year, marking the best quarterly and semiannual performance ever [4][5] - Earnings per share reached €0.26 in Q2, up 42% year-on-year, and €0.47 for the first half, compared to a full-year guidance of €0.85 [9] - Return on average tangible book value was 19% in Q2, with a first-half figure of 18%, exceeding the full-year target of 15% [10] - Operating expenses were reduced by 3% year-on-year, with a cost-to-core income ratio of 29%, among the best in Europe [11] - The CET1 ratio increased by 50 basis points to 14.2%, with the total capital ratio at 19%, both already meeting 2024 targets [12] Business Line Data and Key Metrics Changes - The performing loan book expanded by €1.2 billion in the first half, with strong growth in business lending and a breakeven quarter in the retail book [12][19] - Net interest income showed resilience with a net interest margin of 2.7% and stable loan pass-through at 80% [15] - Net fee income reached a record high of 93 basis points of assets in Q2, driven by loan expansion and asset management [16][17] Market Data and Key Metrics Changes - Piraeus has become the first Greek bank to meet the final MREL requirement 1.5 years ahead of target, and it successfully acquired a pan-European license for Neo Banks [6] - The bank's assets under management increased to €10.4 billion, surpassing the end of 2024 target, reflecting a 27% year-on-year growth [22] Company Strategy and Development Direction - The company is focused on expanding and diversifying revenue sources, with a strong emphasis on operational efficiency despite inflationary pressures [17] - Piraeus is undergoing a transformation strategy for 2024-2026, prioritizing customer experience and aiming to solidify its position in the new banking landscape in Europe [24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in surpassing the current level of net credit growth, driven by activity in various sectors including manufacturing and transportation [42] - The company anticipates continued positive trends in mortgage lending, supported by government initiatives [69] Other Important Information - Piraeus paid a cash dividend of €72 million to shareholders in Q2, marking the first dividend payment in 16 years [5] - The bank's turnaround has been recognized with multiple awards, including "The Global Best Bank Transformation" by Euromoney [7] Q&A Session Summary Question: Future fee levels in card segment - Management indicated that while Q2 was strong for card fees, it is not a one-off, and a run rate between Q1 and Q2 is expected [29][30] Question: Mortgage demand outlook - Management noted a reversal in the negative trend for mortgages, with a breakeven in new production over repayments, aided by the My Home program [31][32] Question: Loan margins and guidance for 2025-2026 - Management highlighted resilient loan yields and indicated potential upside to NII guidance for 2025-2026, depending on market conditions [40][41] Question: Loan growth compared to sector trends - Management stated that Piraeus's loan growth is in line with sector performance, with June showing strong results for both [48] Question: CET1 ratio and Basel IV impact - Management confirmed that the CET1 ratio will remain above 14% and discussed the expected impact of Basel IV starting in 2025 [49] Question: Snappi's customer base and revenue generation - Management clarified that Snappi targets a new customer base, minimizing cannibalization risk, and will be consolidated in the group's P&L [50][51] Question: Cost of risk and RWAs - Management discussed the current cost of risk and the substantial increase in RWAs, emphasizing the strength of profitability despite growth [60][61]

First Half 2024 Financial Results 31 July 2024 III Piraeus Financial Holdings Contents 01 Executive Summary 02 Performance vs Peers 03 Financial Analysis 04 Annex III III Piraeus III Piraeus Καλώς ήρθατε στην Τράπεζα Πειραιώς Welcome to Piraeus Bank! 08:00-14:00 Weeking Hours Menday Friday Eft&smptvn ταθατήριξη για Αμελ 曲 & @ R Specialized support Int people with cisabilities ecutive Sum III Piraeus 上 发生 piraeusbank.gr 01 //// Piraeus: the leading bank in Greece #1 in performing loans (25%), deposits (28%), ...

Financial Data and Key Metrics Changes - In Q1 2024, the company generated normalized earnings of $0.21 per share, aligning with the full-year guidance of $0.80 [6] - The return on average tangible book value was 16.5%, exceeding the full-year target of 14% [6] - Recurring net revenue grew by 10% year-on-year, with operating expenses reduced by 5% year-on-year, achieving a cost-to-core income ratio of 29% [7][13] - The cost of risk dropped to a historic low of 17 basis points, with an NPE ratio maintained at 3.5% and NPE coverage at 60% [8][14] - The CET1 ratio reached 13.7% and total capital ratio was 18.5% [9][17] Business Line Data and Key Metrics Changes - Net fee income increased by 19% year-on-year, reaching €145 million in Q1, with a market-leading level of 76 basis points [12] - The performing loan portfolio grew by 6% annually, with strong disbursements utilizing RRF and My Home program totaling approximately €500 million [15] Market Data and Key Metrics Changes - The deposit base is described as granular, stable, and of high quality, contributing to low deposit betas [16] - The liquidity coverage ratio was 241% and the loan-to-deposit ratio was 62%, both at the top range of the European spectrum [16] Company Strategy and Development Direction - The company is focused on cost containment and operating excellence, aiming to exceed full-year targets [5] - A strong capital buildup of approximately 80 basis points in Q1 supports the planned shareholder distribution of 25% [17][20] - The company is pursuing further operating efficiency despite inflationary pressures, maintaining a best-in-class cost-to-core income ratio [13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving guidance for net credit expansion and stable loan yields [26][27] - The company updated macro expectations in line with fiscal sector consensus, indicating a minor impact on cost of risk assumptions [53] - Management noted that the first quarter is typically weak due to seasonal repayments, with expectations for stronger performance in the second quarter [33] Other Important Information - The company announced it would pay a cash dividend of approximately €80 million for 2023 results, marking the first dividend payment in 16 years [20] - Piraeus was recognized for its efforts in reducing carbon emissions, being included in the Financial Times list of Europe's Climate Leaders for the fourth consecutive year [21] Q&A Session Summary Question: Interest income from fixed-income securities portfolio - Management confirmed that the balance grew mainly towards the end of the quarter and expects a step-up in interest income in the next quarter [22][23] Question: Loan growth and pricing spreads - Management confirmed guidance for net credit expansion and stable loan yields, with new production slightly lower than the current stock [26][27] Question: CET1 capital deductions and future impacts - Management indicated that there will be additional capital deductions over the next three years, approximately €200 million to €230 million [28][29] Question: Loan growth and seasonal repayments - Management explained that seasonal repayments are typical for the first quarter, with expectations for stronger growth in the second quarter [33] Question: NII and hedging positions - Management confirmed that NII was flat excluding hedges, with no pressures from deposits [39][41] Question: Strategy on repossessed assets - Management outlined a strategy to accelerate the sale of repossessed assets, which are currently not dragging on P&L [58][59]

Financial Data and Key Metrics Changes - The company reported a strong set of financial results for Q4 and full year 2023, with normalized earnings of €0.80 per share, a record high, and a return on average tangible book of 16.6% [43][28] - Profitability increased significantly, with net revenue growth of 37% year-on-year, and operating expenses reduced by 4% despite inflationary pressures [43][34] - The NPE (Non-Performing Exposure) ratio halved to 3.5% in 2023, with NPE coverage increasing to 62%, up 7 percentage points from the previous year [31][47] Business Line Data and Key Metrics Changes - The company achieved €1.6 billion in net credit expansion in 2023, aligning with targets and supported by strong take-up of the RRF (Recovery and Resilience Facility) [35][31] - Assets under management reached €9.3 billion at the end of 2023, marking a 34% increase year-on-year [44][36] - Net fee income increased by 14% year-on-year, reaching €144 million in Q4, with a consistent increase in net fee income as a percentage of assets [46][43] Market Data and Key Metrics Changes - The Greek economy grew by approximately 2.5% in 2023, with the sovereign upgraded to investment-grade status for the first time in over a decade, positively impacting the banking sector [29][28] - The company’s liquidity ratios are solid, with a liquidity coverage ratio of 241% and a loan-to-deposit ratio of 61%, both among the top range in Europe [48][31] Company Strategy and Development Direction - The company aims to return around 50% of profits to shareholders starting from 2025, with a focus on sustainable profitability of €1 billion annually for the next three years [37][39] - A new wealth and asset management strategy is in place, contributing to strong results and positioning the company favorably among regional peers [36][31] - The company plans to launch a digital bank, Snappi, by mid-2024 as part of its transformation program [52] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining strong performance and capital generation, citing a robust macroeconomic environment and strategic initiatives [39][28] - The company anticipates a stable net interest margin above 2% in the mid- to long-term, with guidance of 2.3% for 2026 [95][39] - Management acknowledged the challenges posed by potential changes in customer behavior and macroeconomic conditions but remains optimistic about achieving targets [40][42] Other Important Information - The company is focused on sustainability, with €2.7 billion in sustainable financing, primarily in renewables and sustainability-linked loans [88][89] - A strong capital build-up was noted, with a pro forma CET1 ratio of 13.3%, which is 170 basis points higher than the previous year [31][36] Q&A Session Summary Question: What makes the company comfortable sustaining a 50% dividend payout? - Management expressed confidence in maintaining dividend payouts due to consistent delivery on plans and expected excess profitability [54] Question: What are the assumptions behind the DFR (Deposit Funding Rate) for 2024? - Management stated that the DFR assumption is for a 25 basis points drop, based on current macro data, which has not shown a deterministic scenario for a change [55] Question: What is the outlook for new loan generation figures? - Management acknowledged a potential decline in new loans but emphasized that net credit expansion remains stable, with a focus on mortgages and business lending growth [57][71] Question: What are the expectations for one-off provisions in 2024? - Management indicated that there would be a small one-off of about €60 million to €70 million in restructuring costs as part of the final phase of staff reprofiling [63] Question: How does the company compare with Euro peers in terms of sustainability financing? - Management noted that the sustainable financing volumes are low compared to European averages but emphasized the importance of this area for future growth [88][89]

f PIRAEUS FINANCIAL HOLDINGS 9 M . 2 0 2 3 Financial Results 3 N o v e m b e r 2 0 2 3 Contents 01. Executive Summary 02. Performance vs Peers 03. Financial Analysis 04. ESG & Energy Transition 05. Annex IBV li 01. Executive Summary EQUALL: Piraeus' corporate responsibility program comprising initiatives that promote gender equality in the workplace, marketplace and society Piraeus Bank: the leading bank in Greece 4 #1 in performing loans (26%) and deposits (27%) in Greece | --- | |------------------------- ...