Efg International Ag · SIX:EFGN
Efg International — H1 2026 Earnings Presentation
41 slides from Efg International's earnings presentation, Jul 22, 2026
Slide 1: Half-year 2026 results presentation
Half-year 2026 results presentation Zurich, Switzerland 22 July 2026
Slide 2: Important Legal Disclaimer
Important Legal Disclaimer This presentation and the information contained herein has been prepared by EFG International AG (“EFG”) solely for use by you for general information only and does not contain and is not to be taken as containing any securities advice, recommendation, offer or invitation
Slide 3: Highlights
01 Highlights Giorgio Pradelli Chief Executive Officer
Slide 4: Delivered strong organic growth, complemented by acquisitions
Delivered strong organic growth, complemented by acquisitions >23% >200bn Assets under Management, in CHF Record level AuM following the closing of the Quilvest acquisition on 21 July 2026 Strong organic growth, with 15 consecutive semesters of growth, complemented by M&A 6.2%1 activity 5.7bn Ne
Slide 5: Strong growth consistently translated into profitability
Strong growth consistently translated into profitability +5% 1 185million IFRS net profit, in CHF Best semester performance with highest net profit Operating income growth to CHF 856.5 million, 1 (+7% vs 1H251), despite margin decline +3pp 22.4% Return on Tangible Equity Strong organic capital
Slide 6: Financial performance
02 Financial performance Dimitris Politis Chief Financial Officer & Deputy CEO
Slide 7: In 1H 2026, EFG has delivered its best semester performance
In 1H 2026, EFG has delivered its best semester performance Evolution of profitability Key highlights Evolution of IFRS net profit in CHF mn 221.2 Net profit grew 5% year on year to CHF 185 mn the highest ever (excluding 45.4 the exceptional insurance recovery +5% 175.8* 184.6 recorded in 1H 2025)
Slide 8: Successfully rotated to lower interest rate environment – supported by business growth
Successfully rotated to lower interest rate environment – supported by business growth Strong profit growth versus 2H25 Business growth highlights IFRS net profit (excl. exceptionals) in CHF mn AuM evolution +5% Revenue-generating AuM in CHF bn +13% 200 4 Quilvest 185 176 185 196 163 164 166 159 202
Slide 9: Delivering sustainable operating profit growth
Delivering sustainable operating profit growth Operating profit (excl. exceptionals) in CHF mn Key highlights Net contribution life insurance Strong focus on sustainable business development ~19% per annum 237.1 Successfully turning business growth into 9.7 bottom-line expansion: 13.5 227.3 ‒ De
Slide 10: Strong operating performance continues in 1H 2026
Strong operating performance continues in 1H 2026 Business development Profitability Capital & Liquidity NNA Revenue growth Gross capital +6.2% +5% +230 bps annualised growth vs. 2H25 generation Cost-income ratio, Revenue 91 bps 71.5% down -1.6 pp 18.3% Total capital ratio margin vs. 2H25 Hired, sig
Slide 11: Robust start in 2026–28 business cycle
Robust start in 2026–28 business cycle 2028 financial targets Net new asset growth (NNA) Cost/income ratio (CIR) Annualised NNA growth in % Evolution CIR in % 4–6% per 68% annum 7.3 6.5 6.2 71.2* 73.1 71.5 1H25 2H25 1H26 1H25 2H25 1H26 Revenue margin (RoAuM) Return on tangible equity (RoTE) Evolutio
Slide 12: NNA growth of 6.2% in 1H 2026
NNA growth of 6.2% in 1H 2026 – Growth continues to be supported by both new and existing CROs AuM evolution NNA growth levers Revenue-generating AuM evolution in CHF bn Existing CROs in CHF bn 3.5 2.3 5.7 (0.2) 196.3 3.1 185.0 1.8 0.7 1H24 1H25 1H26 New CROs1 in CHF bn 4.5 Dec 25 NNA Market FX Recl
Slide 13: Positive contribution from all regions
Positive contribution from all regions - strong growth in Continental Europe & Middle East and in Asia Pacific Regional business development AuM breakdown NNA Annualised growth rate Revenue-generating AuM RoAuM* CHF 5.7 bn (in %) CHF 196.3 bn (in bps) Switzerland & Switzerland & Italy region 1.0 3
Slide 14: Hiring at the higher end of the guidance range
Hiring at the higher end of the guidance range CRO evolution CRO additions AuM per CRO # of CROs # of new CROs AuM per CRO (excl. Shaw and Partners, ISG) in CHF mn 72 703 763 771 67 74 360 33 348 342 238 238 Shaw and 240 28 316 313 321 Partners 465 458 457 17 35 39 18 2024 2025 1H26 1H25 2H25 1H26 2
Slide 15: Net commission income drives revenue growth
Net commission income drives revenue growth Operating income in CHF mn Key highlights Income from insurance recovery Revenues from life insurance RoAuM (in bps) Net commission income up 20% year on year, Average revenue-generating AuM (in CHF bn) Net other income excl. treasury swap income driven
Slide 16: Resilient revenue margin
Resilient revenue margin Revenue margin evolution Key highlights in bps – excl. exceptionals Interest-related income has stabilised, sensitivity to interest rates is muted Net interest income Net other income excl. treasury swap income Impact from interest rates Interest rate sensitivity1 for a Ne
Slide 17: Operating expenses reflect active cost management and the impact from recent acquisitions
Operating expenses reflect active cost management and the impact from recent acquisitions Operating expenses in CHF mn Key highlights Headline costs growth of 8% is driven by expenses related to the acquisitions of Cité Gestion and ISG FTEs 3,225/ 3,299/ 3,068 3,037** 3,082** Acquisitions have a
Slide 18: Active cost management results in flat operating expenses (excluding acquisitions)
Active cost management results in flat operating expenses (excluding acquisitions) Operating expense evolution (excl. acquisitions) Key highlights in CHF mn Ongoing rigorous cost management efforts, yielding 3% costs savings in 1H 2026 Simplicity 2.0 program generating in excess of CHF 18 mn FTE
Slide 19: High-quality balance sheet
High-quality balance sheet Balance Sheet highlights Key metrics in CHF bn 30 Jun 2026 31 Dec 2025 43.1 43.1 Assets bn bn Liabilities & Equity CET1 capital ratio (%) 15.0% 14.0% 1.1 Due to banks Total capital ratio (%) 18.3% 17.3% Cash & banks 9.2 RWAs (CHF bn) 10.6 bn 10.7 bn Treasury bills 3.1 Leve
Slide 20: Strong organic capital generation drives improvement in capital ratios by 100 bps in 1H26
Strong organic capital generation drives improvement in capital ratios by 100 bps in 1H26 Evolution of CET1 capital ratio In % Gross capital generation 2.3% Net capital generation 1.4% Total Capital 18.3 Ratio Total Capital 17.3 Ratio 0.2 3.3 3.3 2.3 (1.1) CET1 Capital (0.4) 15.0 CET1 Capital 14.0 R
Slide 21: Confident to achieve 2028 financial targets
Confident to achieve 2028 financial targets 2028 Financial targets Started the 2026-2028 strategic cycle, with strong growth and robust financial performance NNA growth 4-6% p.a. Revenue margin Business development >85 bps Priorities for 2026 Revenue margin protection Strict cost and efficienc
Slide 22: Priorities and outlook
03 Priorities and outlook Giorgio Pradelli Chief Executive Officer
Slide 23: Our proven operating model continues to deliver results
Our proven operating model continues to deliver results Priorities 2026 as presented on 18 February 2026 1H26 actuals 2028 targets NNA growth rate p.a avg. Continued organic growth momentum, 6.2% 4–6% p.a. complemented by M&A contributing to earnings AuM CHF >200bn as of 21 July 2026 already from
Slide 24: Constructive macro-environment and resilient markets
Constructive macro-environment and resilient markets “Wealth on the move” Resilient investor behaviour +8.4% Cross-border Cumulated net fund flows wealth1 800 600 In a world characterized by geopolitical 400 uncertainty, policy change, and economic USD billions 200 fragmentation, many [wealthy famil
Slide 25: Implementing 2028 strategy to capture new growth opportunities
Implementing 2028 strategy to capture new growth opportunities and become the private bank of choice for generations of clients Consistency and the power of compounding The “Augmented CRO” Client EFG Investor Day, Strategic cycle 2026-2028 “Consistency and the power of compounding” EFG International
Slide 26: Set to deliver increasing operating leverage and strong performance in line with 2028 strategic plan
Set to deliver increasing operating leverage and strong performance in line with 2028 strategic plan Record Assets under Management Consistent performance and the power of compounding Average Revenue generating AuM 188 >200* 175 3 RoTE 18.2% 22.4% 20% 185 162 2H25 1H26 2H26 ~15% Revenue-generating A
Slide 27: Consistent delivery drives sustainable and profitable growth
Consistent delivery drives sustainable and profitable growth Constructive environment and “wealth on the move” supporting strong organic growth Implementing our 2028 strategic plan and augmenting our CROs to become the private bank of choice for generations of clients Set to deliver increasing
Slide 28: Thank you for your attention.
Thank you for your attention.
Slide 29: EFG Private Banking
ErG ErG Private Banking
Slide 30: Appendix
ErG () / Appendix
Slide 31: Financials summary (I)
Financials summary (I) 1H26 1H25 Variation vs. 1H25 Revenue-generating AuM (bn) 196.3 162.3 +20.9% Net new assets (bn) 5.7 5.4 +5.6% Net new assets growth rate (%) 6.2% 6.5% -0.3 pp Revenue margin (bps) 91 104 -13 bps Operating income (in CHF mn) 856.5 853.9 +0.3% Operating expenses (in CHF mn) 619.
Slide 32: Financials summary (II)
Financials summary (II) 1H26 2H25 Variation vs. 2H25 Revenue-generating AuM (bn) 196.3 185.0 +6.1% Net new assets (bn) 5.7 5.9 -3.4% Net new assets growth rate (%) 6.2% 7.3% -1.1 pp Revenue margin (bps) 91 93 -2 bps Operating income (in CHF mn) 856.5 815.1 +5.1% Operating expenses (in CHF mn) 619.4
Slide 33: Income statement (IFRS)
Income statement (IFRS) In CHF mn 1H26 2H25 1H25 2H24 1H24 Net interest income 135.1 143.9 182.0 200.7 182.5 Net banking fee & commission income 433.7 419.6 362.4 341.5 325.5 Net other income 287.7 251.6 309.5 212.8 235.8 Operating income 856.5 815.1 853.9 755.1 743.8 Personnel expenses (458.5) (426
Slide 34: Balance sheet highlights
Balance sheet highlights In CHF mn 31 Dec 2025 30 Jun 2026 Cash & banks 7,256 9,207 Treasury bills 1,908 3,123 Derivatives 982 1,148 Financial instruments 8,005 7,444 Loans 19,408 20,515 Goodwill & intangibles 333 333 Other 1,502 1,310 Total assets 39,394 43,080 Due to banks 743 1,087 Due to custome
Slide 35: AuM evolution
AuM evolution AuM by asset class AuM by asset class in % FY 2025 in % 1H 2026 Other Other Hedge funds Hedge funds 6% Cash & Deposits 7% Cash & Deposits 2% 2% Loans 20% Loans 20% 11% 11% Structured Structured products 4% products 4% CHF 185.0 bn CHF 196.3 bn 22% 23% Bonds Bonds 35% 34% Equities Equit
Slide 36: Segmental analysis 1H26
Segmental analysis 1H26 Continental Investment Global Performance summary Switzerland Europe & Americas UK Asia Pacific & Wealth Markets & Corporate Elimination Total (in CHF mn) & Italy Middle East Solutions Treasury Segment revenues 250.9 129.6 65.2 79.9 141.8 75.1 91.6 22.5 - 856.5 Segment expens
Slide 37: Segmental analysis 2H25
Segmental analysis 2H25 Continental Investment Global Performance summary Switzerland Europe & Americas UK Asia Pacific & Wealth Markets & Corporate Elimination Total (in CHF mn) & Italy Middle East Solutions Treasury Segment revenues 238.7 122.7 74.8 85.5 127.9 65.8 96.4 3.3 - 815.1 Segment expense
Slide 38: Segmental analysis 1H25
Segmental analysis 1H25 Continental Investment Global Performance summary Switzerland Europe & Americas UK Asia Pacific & Wealth Markets & Corporate Elimination Total (in CHF mn) & Italy Middle East Solutions Treasury Segment revenues 241.9 124.8 69.2 89.4 110.9 61.2 56.9 99.6 - 853.9 Segment expens
Slide 39: Update on Life Insurance Exposures
Update on Life Insurance Exposures Outright portfolio Life insurance related portfolio Death Legacy exposures of direct life insurance policies acquired more than 15 years ago benefits Net Cashflow Year Carried at fair value (marked-to-model, Level 3) for IFRS accounts – small size of portfolio
Slide 40: Quilvest Switzerland at a glance
Quilvest Switzerland at a glance Company description Key Figures (FY 2025) Pure-play Swiss private bank with a strong focus on UHNWIs and long-standing successful track record in advising on RoA (in bps) 65 private market investments C/I 98% Headquartered in Zurich with an established presence i
Slide 41: Financial calendar 2026 / 2027
Financial calendar 2026 / 2027 Event Date 10M business update 2026 24 November 2026 Full-year 2027 financial results 17 February 2027 Annual General Meeting 2027 24 March 2027 EFG International | Half-year 2026 results 22 July 2026 Page 41