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 | --- | |------------------------- ...

Financial Data and Key Metrics Changes - Piraeus Bank reported normalized earnings of €0.21 per share, exceeding the full year 2023 guidance provided earlier [7] - The return on average tangible book was 17.6% [7] - Net interest income grew by 9% quarter-over-quarter, supported by net interest margin expansion and deposit cost containment [7] - Operating expenses decreased by 8% year-on-year, resulting in a cost-to-income ratio of 29%, down from 32% in Q2 [7] - The CET1 ratio improved to 12.9%, up 54 basis points quarter-on-quarter [8] Business Line Data and Key Metrics Changes - Net credit expansion was €240 million in Q3 and €830 million for the nine months of 2023, driven by strong demand from Greek businesses [9] - Assets under management in the wealth and asset management division reached €8.5 billion, reflecting a 4% increase in Q3 [12] Market Data and Key Metrics Changes - The Greek economy's real GDP grew by 2.4% annually in the first half of 2023, outperforming the Eurozone average of 0.9% [5] - Piraeus Bank has captured over 40% market share in the RRF, having dispersed nearly €270 million to approximately 50 credit Greek businesses, primarily SMEs [9] Company Strategy and Development Direction - The company is focused on maintaining net revenue growth and operational excellence, with a strong emphasis on wealth and asset management as a strategic priority [4][20] - Piraeus Bank aims to continue improving its capital position and has already met its MREL target of 21.8% ahead of schedule [8][11] - The bank's competitive advantages and financial strength position it favorably against local and European peers [14][15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in meeting or exceeding 2023 financial targets, citing a strong track record of financial transformation [13] - The management noted that the recent upgrade of Greece's sovereign rating could provide some relief on risk-weighted assets, particularly in corporate exposures [19] - The outlook for asset quality remains positive, with expectations of a drop in the NPE ratio below 5% [35] Other Important Information - The liquidity coverage ratio stands at 242%, and the loan-to-deposit ratio is at 62%, indicating a strong liquidity profile [10] - The bank's capital generation was robust, with a 130 basis point increase in the CET1 ratio over the nine months of 2023 [11] Q&A Session Summary Question: Net interest margin outlook and hedging strategy - Management expects net interest margin to remain stable around 2.5% in 2024, with a strategic focus on structural hedging to mitigate potential NII erosion [18][19] Question: Implications of S&P's upgrade of Greece's sovereign grade - Rating upgrades are expected to provide some RWA relief, particularly on corporate exposures, though the impact is still being quantified [19] Question: Growth in assets under management - The increase in assets under management is attributed to improved penetration of asset management products and market share gains [20] Question: Evolution of credit spreads and lending expansion - Management anticipates a slight erosion of credit spreads but expects net interest margin to remain above 2% [23] Question: Asset quality outlook - The NPE ratio is expected to continue declining, with management not foreseeing major concerns regarding asset quality [24] Question: Capital generation and guidance for Q4 - Q4 is expected to be a strong growth quarter, with no significant changes to the capital target anticipated [38] Question: Digital euro impact - The bank is assessing the potential risks and opportunities associated with the digital euro, with plans to incorporate findings into the new business plan [38]

Financial Data and Key Metrics Changes - Piraeus Bank reported a net profit of €238 million for Q2 2023, marking the best quarterly performance ever and the seventh consecutive quarter of profitable growth [4][8] - The normalized earnings per share increased to €0.18, surpassing the full-year guidance of more than €0.65, up from the previous estimate of more than €0.55 [9][19] - The return on average tangible book value improved to 15%, with a cost-to-income ratio of 32%, down from 36% in Q1 [8][12] - The CET1 ratio stood at 12.3%, an increase of 80 basis points compared to the end of 2022 [8][16] Business Line Data and Key Metrics Changes - Net interest income grew by 9% quarter-over-quarter, with net fee income increasing by 16%, achieving a record high of €141 million in Q2 [8][11] - The NPE (Non-Performing Exposures) ratio decreased to 5.5%, with NPE coverage rising to 57% [8][12] - The bank achieved a net credit expansion of €800 million in Q2, with a target of an additional €1 billion for the second half of the year [14] Market Data and Key Metrics Changes - The Greek economy is projected to grow by 3.4% in 2023, with inflation decreasing and unemployment significantly reduced [6] - Residential real estate prices increased by 14.5% year-on-year in Q1 2023, indicating a solid trend in the real estate market [6] Company Strategy and Development Direction - The company aims to become a best-in-class European bank, focusing on sustainable and diversified revenue pools, cost efficiencies, and a solid balance sheet [4][7] - Piraeus Bank is committed to accelerating its NPE clean-up process, with plans to halve the remaining €2 billion NPE portfolio over the next 18 months through organic strategies [13][48] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in outperforming 2023 targets due to strong financial performance and supportive macroeconomic conditions [9][21] - The bank anticipates continued growth in corporate lending, supported by government programs and the Recovery & Resilience Fund, while retail mortgage demand remains weak [37][70] Other Important Information - Piraeus Bank has been recognized as the Best Bank in Greece for 2023 by Euromoney [5] - The bank's liquidity ratios are solid, with a liquidity coverage ratio of 233% and a loan-to-deposit ratio of 61% [15] Q&A Session Summary Question: Lending Expansion - The credit expansion was driven by multiple granular transactions, notably through the Hellenic Development Bank, which increased balances by €210 million [29][30] Question: Trends in the Second Half - Corporate lending is expected to grow, supported by the Recovery & Resilience Fund, while retail mortgage demand is anticipated to remain weak [37] Question: Net Interest Income Improvement - The strong NII performance was attributed to a smaller-than-expected increase in deposit beta and higher loan pass-through rates [41] Question: NPEs and Corporate Cases - One significant corporate case contributed to NPE inflows, but there are currently no other major cases on the watch list [43] Question: Securities Income - The securities book has increased in returns, with a notable rise in income from derivatives used to hedge positions [47] Question: Cost of Risk Outlook - The cost of risk guidance has been adjusted to 100 basis points, reflecting current trends and performance [49] Question: Cash in Minimum Reserve Requirements - The minimum reserve at the ECB is €600 million, impacting NII by approximately €6 million for 2023 [54] Question: NPE Reduction Rationale - The acceleration of the NPE reduction process is aimed at reaching asset quality targets sooner, with a focus on organic reduction moving forward [48]

Financial Data and Key Metrics Changes - Piraeus Bank reported normalized earnings per share of EUR0.15 and a return on average tangible book of 13%, both exceeding the full-year 2023 guidance provided earlier [4] - The bank achieved a 24% annual growth in net revenue, driven by a 56% increase in net interest income and a 15% growth in net fee income [4] - The cost-to-core income ratio improved to 36%, and the non-performing exposure (NPE) ratio decreased to 6.6% from 13% a year ago [4][7] - The CET1 ratio strengthened by 60 basis points to 12.2%, with total capital reaching 17% [4][10] Business Line Data and Key Metrics Changes - The performing loan portfolio grew by 8% annually, with a strong pipeline of business projects, including RRF sponsored plans [8] - Deposits increased by 4%, amounting to over EUR2 billion annually, supported by strong asset management product performance [9] Market Data and Key Metrics Changes - The bank's liquidity ratios are robust, with a liquidity coverage ratio of 220% and a loan-to-deposit ratio of 62%, both ranking in the top percentile in Europe [7] Company Strategy and Development Direction - Piraeus Bank aims to distribute 10% of its 2023 profits to shareholders, subject to achieving targets and supervisory consent [5] - The bank is focused on expanding its energy transition business lines and has been recognized as a climate leader in Europe [12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in outperforming 2023 targets due to solid financial performance and a supportive macro environment [10] - The bank upgraded its 2023 guidance, targeting a 12% return on tangible book and EUR0.55 earnings per share [11] Other Important Information - The bank's proactive measures include monitoring asset quality and implementing strategies to mitigate risks associated with rising interest rates [17] - The bank plans to maintain a stable loan-to-deposit ratio of around 65% in the medium term [22] Q&A Session Summary Question: Expectations for deposit betas and loan pass-through - Management indicated a low deposit beta of around 9% and expects a pass-through of about 50% on time table, with current pass-through at 75% [14][16] Question: Risks to asset quality with rising interest rates - Management is monitoring the book for risks and has proactive measures in place, with no immediate concerns noted [17] Question: Optimal loan-to-deposit ratio and liquidity strategy - The bank aims for a stable loan-to-deposit ratio of 65% and plans to deploy excess liquidity into expanding the credit pool [22] Question: Dividend payout expectations for 2023 and beyond - The bank has established a distribution policy targeting a 10% payout for 2023, with aspirations to increase it in subsequent years [24] Question: Capital build-up and MREL transactions - Management expects organic capital build-up to continue, with a planned transaction of up to EUR500 million for MREL within the year [39] Question: Impact of mortgage rate caps on NII - The cap on mortgage rates is projected to impact NII by around EUR15 million, which is included in the bank's guidance [42]

f PIRAEUS FINANCIAL HOLDINGS First Quarter 2023 F i n a n c i a l R e s u l t s 5 May 2023 Contents 01. Executive Summary 02. Relative Value 03. Financial Analysis 04. Transformation Program 05. ESG & Energy Transition 06. Annex IBV li 01. Executive Summary EQUALL: Piraeus' corporate responsibility program comprising initiatives that promote gender equality in the workplace, marketplace and society 4 Piraeus Bank: the leading bank in Greece y #1 in loans (25%) and deposits (27%) in Greece | --- | |--------- ...

Financial Data and Key Metrics Changes - Piraeus Bank reported a return on tangible equity of 6% for Q1 2022, aligning with its full-year commitment [7] - Core operating profitability reached €93 million, with net interest income excluding NPE accruals increasing by 11% year-on-year [8][9] - The fully loaded CET1 ratio was restored to 10%, incorporating over two-thirds of the 2022 NPE clean-up costs [8][16] Business Line Data and Key Metrics Changes - Loan disbursements amounted to €1.7 billion in Q1 2022, resulting in a net credit expansion of €300 million [8][35] - Net fees, including rental income, increased by 37% year-on-year, while operating costs decreased by 6% [9] - The underlying cost of risk was reported at €44 million, reflecting a positive trend from the previous year [13] Market Data and Key Metrics Changes - The Greek economy showed strong GDP growth in 2021, setting a foundation for sustainable recovery, although the Russia-Ukraine war has introduced economic uncertainty [5][6] - The bank aims for a 9% NPE ratio by the end of 2022, supported by ongoing NPE securitizations [10][15] Company Strategy and Development Direction - The company is focused on executing its new business plan, emphasizing core business strengthening and credit expansion across priority sectors [4][17] - A strategic partnership with Natech is underway, aiming for a platform launch in the first half of 2022 [20][21] - Piraeus Bank is committed to becoming the most sustainable bank in Greece, with clear targets for net-zero emissions [22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in addressing current economic challenges, highlighting the effectiveness of policy support measures against inflation [6] - The management reiterated guidance for a total credit growth of €1.2 billion for the year, despite initial repayment levels [26][27] - The bank is monitoring payment behaviors closely, with no significant pressures observed so far [30] Other Important Information - The bank's asset quality trends remained favorable, with historical low NPE inflows and a negative net NPE formation of €100 million in Q1 2022 [15] - The company has been recognized as one of Europe's climate leaders for the second consecutive year [21] Q&A Session Summary Question: Loan disbursements and repayments dynamics - Management confirmed that despite higher repayments in early Q1, disbursements improved in March and April, maintaining guidance for €1.2 billion growth [26][27] Question: Asset quality and NPE ratio target - Management reiterated the target of a 9% NPE ratio, with ongoing monitoring of borrower payment behaviors and potential additional NPEs under stress scenarios [29][30] Question: Impact of inflation on operating expenses - Management acknowledged inflationary effects on administrative costs but aims to maintain a nominal G&A cost base over €250 million for the year [31] Question: Clarification on loan growth and asset quality trends - Management confirmed €1.7 billion in new disbursements and reiterated the €1.2 billion net credit expansion target for the year [35] Question: Capital movements and MREL ratio - Management explained the increase in the fully loaded CET1 ratio and discussed the MREL trajectory, indicating plans for gradual increases [43][46] Question: TLTRO contributions - Management confirmed €36 million from TLTRO in Q1, with expectations for similar contributions in Q2 and a decrease in subsequent quarters [47]

PIRAEUS FINANCIAL HOLDINGS Corporate Presentation M A R C H 2022 Contents 01. Executive Summary 02. Sunrise Plan Update 03. Financial Performance 9M.21 04. Annex 01. Executive Summary 00000 2 3 3 200 Tomorrow is taking off today At Praeus Bank we believe your dreams can shape somorrow t øl The Greek macro provides sizeable room for solid optimism: from reforms to investments and from NPE plunge to "Greece 2.0" 30 35 40 45 50 55 Q1.19Q2.19Q3.19Q4.19Q1.20Q2.20Q3.20Q4.20Q1.21Q2.21Q3.21Q4.21Q1.22Q2.22Q3.22Q4.22 ...

Financial Data and Key Metrics Changes - Piraeus Group achieved a return on tangible equity of 7% in 2021, with a target of over 5% for 2022 [5][20] - The NPE (Non-Performing Exposure) ratio decreased significantly to 12.5% from 22.5 billion euros in December 2020 to 4.9 billion euros in December 2021 [6][11] - Cost-to-income ratio improved to 46%, with a cost of risk landing at 74 basis points over net loans in 2021, reaching an all-time low of 53 basis points in Q4 2021 [7][11] Business Line Data and Key Metrics Changes - New loan generation reached 6.5 billion euros in 2021, surpassing the target of 5.7 billion euros, with Q4 disbursements exceeding 2 billion euros [9] - Net fees increased by 25% year-on-year, reaching almost 400 million euros, marking a record high for Piraeus Bank [9] - Client assets under management rose by approximately 7 billion euros to a historic high of 59 billion euros [9] Market Data and Key Metrics Changes - The Greek economy showed strong recovery in 2021, with real GDP returning to pre-COVID levels and positive employment trends [3] - The company has minimal exposure to Ukraine, with net asset value related to Ukraine operations at approximately 22 million euros [4] Company Strategy and Development Direction - Piraeus Group is focused on achieving a single-digit NPE ratio by 2022 and has made significant progress in its NPE cleanup plan [10][11] - The company aims to strengthen its core business, particularly in sectors like energy, manufacturing, and hospitality [15] - A new business plan for 2025 is in preparation, with a focus on maintaining a capital ratio around 16% [17][20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in addressing current challenges, including inflation and geopolitical tensions, while maintaining growth projections for 2022 [5][25] - The company anticipates a net credit growth of approximately 1.3 billion euros for 2022, with strong disbursement momentum [32][38] Other Important Information - The company has completed over 95% of its cleanup and capital enhancement actions as part of its business plan [10] - The NPE securitization and sales efforts resulted in a significant reduction of NPEs within a year [11] Q&A Session Summary Question: Potential headwinds for the business plan - Management acknowledged the early assessment of inflation impacts and projected a growth estimate of 3% to 4% for Greece in 2022 [25] Question: NPE reduction and write-offs - The NPE reduction in Q4 was a catch-up effect, with write-offs aligning with planned projections [27] Question: Loan growth and seasonality - Q4 loan disbursements were strong and aligned with the plan, with expectations for net credit growth of 1.3 billion euros in 2022 [32] Question: Future asset quality trends - No significant warning signs were observed in asset quality, with a clean path for further derisking [39] Question: Tax expense and one-off in OpEx - The tax charge was affected by a DTA impairment, while operational expenses were managed effectively [40][41] Question: Capital and issuance plans - The CET1 ratio is expected to remain above 10% by year-end, with plans for a 1 billion euro issuance in the second half of the year [48][50]