Banco Bpm Spa · MIL:BAMI
Banco Bpm Spa — Banco Bpm Societa Ord — Q1 2026 Earnings Presentation
38 slides from Banco Bpm Spa's earnings presentation, May 5, 2026
Slide 1: Group Q1 2026 Results Presentation
Group Q1 2026 Results Presentation 5 May 2026
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by Banco BPM ("Banco BPM"); for the purposes of this notice, "presentation" means this document, any oral presentation, any questions and answers session and any written or oral material discussed following the distribution of this document. The distrib
Slide 3: Methodological Notes
Methodological Notes The balance sheet and income statement schemes contained in this news document have been reclassified along management criteria in order to provide an indication on the Group’s overall performance based on more easily understandable aggregate operating and financial data. These
Slide 4: Agenda
Agenda 1 Executive Summary 5 2 Key Highlights 11 3 Final Remarks 19 4 Q1 2026 Performance Details 22 4
Slide 5: Q1 2026: a compelling business model in action
Q1 2026: a compelling business model in action Since acquisition in Q2 25 STRONG PROFITABILITY AND SIGNIFICANT BENEFITS FROM FURTHER IMPROVEMENT IN SOLID CAPITAL PRODUCT FACTORIES SET-UP ORGANIC PERFORMANCE Q1 2026 Total Revenues from Key Product Factories1 Profit from continuing operations (pre-tax
Slide 6: Solid economics in Q1 2026, driven by high-quality revenues, improved cost discipline and contained cost of risk
Solid economics in Q1 2026, driven by high-quality revenues, improved cost discipline and contained cost of risk Comparison with 2024 and 2025 – quarterly average data REVENUES: RESILIENT AND INCREASINGLY DIVERSIFIED ENHANCED EFFICIENCY €m €m 696 674 664 1,511 1,530 1,426 C/I 47% 46% 44% Euribor 3M
Slide 7: Effective credit management leading to the strongest asset quality profile ever
Effective credit management leading to the strongest asset quality profile ever NPES AT RECORD LOW MATERIAL RISK MITIGATION FROM STATE GUARANTEES Gross NPE ratio evolution since 2016 Gross NPEs at €2.18bn GBV, down by €576m Y/Y (-21%) 1 24.1% 31/03/25 31/12/25 31/03/26 Zero-Bad Loan bank Net NPE rat
Slide 8: Strong capital position and robust liquidity and funding profile
Strong capital position and robust liquidity and funding profile CAPITAL POSITION WELL ABOVE 13% THRESHOLD, AFTER ABSORBING MARKET VOLATILITY 13.58% -9bps 13.49% -19bps +29bps 13.59% 13% Plan MDA & CET1 BUFFER Including 80% minimum CONFIRMED >400BPS: dividend accrual threshold (-71bps) WIDE BUFFER V
Slide 9: Key Highlights
Key Highlights 2
Slide 10: Q1 2026 results: Net Income Adjusted at €483m
Q1 2026 results: Net Income Adjusted at €483m PERFOMANCE EVOLUTION SINCE ACQUISITION P&L HIGHLIGHTS, Q1 25 PF1 Q4 25 Q1 26 Chg. Q/Q Chg. Y/Y Adjusted data €m Adjusted, in € m Net interest income 782 767 751 -2.1% -3.9% MPS 1,474 1,530 dividends 97 1,457 Net fees and commissions 728 687 708 3.1% -2.7
Slide 11: Net interest income at €751m, stable Q/Q neutralizing day effect
Net interest income at €751m, stable Q/Q neutralizing day effect NET INTEREST INCOME EVOLUTION NET INTEREST INCOME: KEY QUARTERLY DRIVERS €m €m Flat Excl. two-day effect -2.1% 782 767 751 767 +10 751 -17 -10 Q1 25 adj. 1 Q4 25 Q1 26 NII "at full +1.4% Q/Q Excl. 731 729 724 Q4 25 Day effect Commercia
Slide 12: Lending volumes: continuing commitment to support our clients and preserve loan book quality
Lending volumes: continuing commitment to support our clients and preserve loan book quality STOCK OF “CORE” PERFORMING LOANS ONGOING FOCUS ON SECURE, GROWS BY €1BN IN Q1 20261 LOW RISK COUNTERPARTIES Y/Y trend exclusively affected by decrease in Financials GBV, in € bn Share on “Core” Performing Cu
Slide 13: Total Net Fees & Income from Insurance at €750m
Total Net Fees & Income from Insurance at €750m Investment product fees represent 53% of total Net Fees INVESTMENT PRODUCT FEES: +8.0% Q/Q €m 371 377 349 ANIMA 134 141 TOTAL NET FEES & INSURANCE 147 Upfront fees 113 111 74 €m +2.0% Running fees 125 128 126 765 735 750 Q1 25 PF Q4 25 Q1 26 37 42 631
Slide 14: Total Customer Financial Assets of the Group up at €384bn
Total Customer Financial Assets of the Group up at €384bn, thanks to resilient captive network and material contribution from Anima BANCO BPM GROUP’S TOTAL “Captive” Total Customer Financial Assets CUSTOMER FINANCIAL ASSETS € bn +€9.6bn Y/Y Indirect Funding at €123.6bn, Stock as at 31/03/26, in € bn
Slide 15: Cost/Income ratio down at 44% reflecting rigorous cost discipline
Cost/Income ratio down at 44% reflecting rigorous cost discipline STAFF COSTS €m -4.7% 461 461 440 TOTAL OPERATING COSTS Quarterly trend mainly driven by savings from Solidarity €m Fund exits in Q4 2025 -3.7% 689 700 674 Q1 25 PF Q4 25 Q1 26 OTHER ADMINISTRATIVE EXPENSES & D&A €m -1.8% Q1 25 PF Q4 2
Slide 16: CoR down to 32bps driven by effective and prudent credit management
CoR down to 32bps driven by effective and prudent credit management TREND OF NPEs FY 2025 Q1 2026 TOTAL NPEs annualised 2.75 € bn 2.25 2.18 -21% Gross Y/Y COST OF RISK 40bps 32bps Net 1.52 1.21 1.14 Default rate 0.84% 0.68% 31/03/25 31/12/25 31/03/26 Cure rate 5.64% 9.78% Gross ratio 2.69% 2.22% 2.1
Slide 17: Active management of bond portfolio contributing to strong YoY improvement in Net Financial Result
Active management of bond portfolio contributing to strong YoY improvement in Net Financial Result RESERVES OF DEBT SECURITIES AT FVOCI1 NET FINANCIAL RESULT Post-tax €m €m BPV2 of total Govies 31/03/25 31/12/25 31/03/26 at FVOCI at €2.06m 25.1 as of 31/03/26 vs. €2.40m at YE 25 15.6 (o/w only €0.68
Slide 18: Solid CET 1 ratio: well above 13% threshold, even in a volatile environment
Solid CET 1 ratio: well above 13% threshold, even in a volatile environment CET 1 RATIO EVOLUTION MDA BUFFER % vs. 350bps Plan +88bps -75bps 404bps minimum 13.58 -9bps 13.49 -19bps +18bps -3bps 13.59 threshold 13% Plan minimum MDA buffer equivalent to the buffer threshold vs. CET 1 Minimum Requireme
Slide 19: Final Remarks
Final Remarks 3
Slide 20: Q1 results: solid fundamentals supporting 2026 outlook…
Q1 results: solid fundamentals supporting 2026 outlook… 2026 SP Target Q1 2026 Quarterly Avg. KEY TRENDS €m Restated, €bn Total revenues 1,530 1.52 o/w NII 751 0.75 Revenues already in line, thanks to o/w Net fees & commissions 708 0.69 overperformance in Net Fees & Core revenues 1,527 1.52 Commissi
Slide 21: … and fully consistent with overall Strategic Plan trajectory
… and fully consistent with overall Strategic Plan trajectory SOLID PERFORMANCE ACROSS ALL KEY INDICATORS OF OUR TRANSFORMATIONAL PLAN SUSTAINABLE PROFITABILITY Q1 2026 2027 SP Target Ahead2 of >€7.7bn cumulative 2024-27 Net Income target NON-NII REVENUES ON TOTAL REVENUES1 53% >50% Promising trajec
Slide 22: Q1 2026 Performance Details
Q1 2026 Performance Details 4
Slide 23: P&L: Quarterly comparison
P&L: Quarterly Reclassified income statement (€m) Net interest income Q1 25 PF 817.5 Q1 25 816.9 Q2 25 785.1 Q3 25 757.9 Q4 25 767.5 Q1 26 751.4 Chg.Q/Q -16.1 1 -2.1% comparison Net fee and commission income Income (loss) from invest. in associates carried at equity 727.9 28.9 593.9 39.8 653.8 23.6
Slide 24: P&L: comparison of stated and adjusted, with one-off details
Q1 26 Q1 26 P&L: comparison of Reclassified income statement (€m) Net interest income Stated 751.4 Adjusted 751.4 One-off 0.0 stated and adjusted, Net fee and commission income 708.1 708.1 0.0 Income (loss) from invest. in associates carried at equity 26.0 26.0 0.0 with one-off details Income from i
Slide 25: 2025 - Restatement for costs of synthetic securitizations
2025 - Restatement for costs of synthetic securitizations Q1 25 Q2 25 Q3 25 Q4 25 FY 25 Net fees and commissions (Pre Restatement) 575.1 630.3 621.6 668.4 2,495.3 Restatement for costs of synthetic securitizations 18.8 23.6 19.6 18.4 80.5 Net fees and commissions (Post Restatement) 593.9 653.8 641.2
Slide 26: Balance Sheet
Balance Sheet Reclassified assets (€ m) 31/03/25 31/12/25 31/03/26 Chg. Y/Y Value % Chg. YTD Value % Cash and cash equivalents 12,170 5,607 3,794 -8,376 -68.8% -1,812 -32.3% Loans and advances measured at AC 104,155 103,612 104,407 252 0.2% 795 0.8% - Loans and advances to banks 3,319 3,899 3,875 55
Slide 27: Strong and well diversified liability profile, driven by successful issuance activity
Strong and well diversified liability profile, driven by successful issuance activity Managerial data of the banking business BONDS, CERTIFICATES & OTHER DEBT SECURITIES AT FV MREL REQUIREMENTS & BUFFERS outstanding as of 31/03/2026 as of 31/03/2026 Nominal amounts MREL as % of RWA, including 14.5%
Slide 28: Total Direct Funding from the Banking business at €133.7bn
Total Direct Funding from the Banking business at €133.7bn EVOLUTION OF DIRECT FUNDING POSITION: +1.5% Y/Y € bn 131.6 137.2 133.7 31/03/25 31/12/25 31/03/26 % chg. Y/Y % chg. YTD C/A & Sight deposits 98.9 103.8 102.6 3.8% -1.2% Time deposits 1.3 1.3 2.1 53.7% 62.7% Bonds 23.6 23.1 21.7 -7.9% -6.1% 1
Slide 29: Total liquidity at €51.7bn
Total liquidity at €51.7bn EVOLUTION OF LIQUIDITY POSITION € bn Cash, Depo Facility with ECB & Unencumbered Assets +4.6% Y/Y LCR & High-Quality Liquid Assets 53.7 51.7 49.4 0.6 0.5 0.5 4.6 2.7 147% 141% 11.3 136% • o/w €34.0bn securities 43.8 43.7 • o/w €9.7bn 32.8 credit claims 4.8 4.8 4.8 31/03/25
Slide 30: Total Indirect Customer Funding at €275.4bn (including Anima’s volumes)
Total Indirect Customer Funding at €275.4bn (including Anima’s volumes) ASSETS UNDER MANAGEMENT (AuM)1 ASSETS UNDER CUSTODY (AuC) € bn 217.6 € bn +2.2% 17.2 +9.6% 30.7 69.8 57.8 66.0 67.5 84.7 56.4 56.1 51.2 0.3 4.9 5.0 4.9 Wrapping 16.8 18.3 18.6 57.5 44.3 46.5 44.0 85.0 31/03/2025 31/12/2025 31/03
Slide 31: Net Customer Loans at Amortized Cost at €100.5bn
Net Customer Loans at Amortized Cost at €100.5bn EVOLUTION OF NET CUSTOMER LOANS € bn 100.8 99.7 100.5 Composition of Net Performing Customer Loans 1.5 1.2 1.1 Change Net Performing Customer Loans 31/03/25 31/12/25 31/03/26 In % Y/Y In % YTD Core customer loans 97.2 94.2 95.2 -2.1% 1.0% - Medium/Lon
Slide 32: NPE migration dynamics
NPE migration dynamics €m INFLOWS FROM 238 207 230 169 152 PERFORMING TO NPES Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 €m OUTFLOWS FROM NPES 38 36 25 16 13 TO PERF. LOANS Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 €m FLOWS FROM UTP TO 82 78 52 50 49 BAD LOANS Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Data referred to Loans to Customer
Slide 33: Asset Quality details
Asset Quality details Loans to Customers at AC Gross exposures 31/03/25 30/06/25 30/09/25 31/12/25 31/03/26 Chg. Y/Y Chg. YTD € m and % Value % Value % Bad Loans 1,140 998 989 850 858 -283 -24.8% 7 0.9% UTP 1,549 1,535 1,430 1,346 1,291 -257 -16.6% -55 -4.1% Past Due 65 75 67 55 29 -36 -55.5% -26 -4
Slide 34: Optimized and diversified Debt Securities portfolio in the Banking Book
Optimized and diversified Debt Securities portfolio in the Banking Book TREND AND BREAKDOWN COMPOSITION BY COUNTERPARTY OF THE BANKING BOOK OF THE BANKING BOOK1 € bn Managerial breakdown € bn 31/03/25 31/12/25 31/03/26 46.7 46.6 47.0 8.4 8.6 7.8 Other2 FVOCI 14.5 14.7 13.5 Govies & 38.4 38.1 39.2 AC
Slide 35: Capital position in detail
Capital position in detail CAPITAL POSITION 31/12/2025 31/03/2026 LEVERAGE (€/m and %) 31/12/2025 31/03/2026 (€ m and %) CET 1 Capital 8,855 8,950 Total Exposure 203,809 217,878 T1 Capital 10,245 10,340 Total Capital 12,467 12,549 Class 1 Capital 10,245 10,340 RWA 65,210 65,867 Leverage Ratio 5.03%
Slide 36: Sustainability ESG & Digital Banking – Key results achieved in Q1 2026
Sustainability ESG & Digital Banking – Key results achieved in Q1 2026 SUSTAINABILITY ESG KPIs MAIN SUSTAINABILITY ESG ACHIEVEMENTS ▪ Disclosed the 2nd Sustainability Statement, that includes Anima Group for the first time Q1 2025 Q1 2026 ▪ Developed an internal Social Framework to be used for new s
Slide 37: Definitions of key indicators included in the presentation
DEFINITIONS OF KEY INDICATORS INCLUDED IN THE PRESENTATION INDICATOR DEFINITION P&L Adjusted P&L data excluding all one-offs indicated in the Explanatory Notes of the pertinent financial results Press Release CASH + UNENCUMBERED Including assets received as collateral, net of accrued interests. M an
Slide 38: Contacts for Investors and Financial Analysts
Contacts for Investors and Financial Analysts Banco BPM Arne Riscassi +39 02 9477.2091 Registered Offices: Piazza Meda 4, I-20121 Milano, Italy Silvia Leoni +39 045 867.5613 Corporate Offices: Piazza Nogara 2, I-37121 Verona, Italy Carmine Padulese +39 02 9477.2092 investor.relations@bancobpm.it www
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