Slide 1: 1Q25 Results Presentation
1Q25 Results Presentation April 28th, 2025
Slide 2: Index
Index 1 Key highlights 2 1Q25 Results: • Business activity • Financial Results • Asset quality • Solvency & liquidity 3 Final Remarks 4 Appendix 2
Slide 3: Key highlights
Key highlights Business activity Profitability Asset quality Solvency and liquidity Customer business Good dynamics in 1Q25 NPAs continue to reduce Strong organic capital volume +2.4% year on support 2025 with coverage also generation with a year profitability targets improving dividend payout of 60
Slide 4: Index
Index 1 Key highlights 2 1Q25 Results: • Business activity • Financial Results • Asset quality • Solvency & liquidity 3 Final Remarks 4 Appendix 4
Slide 5: Customer funds
Customer funds Customer deposits increase by 3.4% and off-balance sheet funds by 9.4% year on year Total customer funds Customer funds on balance € million Breakdown Million Euros 1Q24 4Q24 1Q25 QoQ YoY Customer funds on balance (excl. Repos) 66,691 70,928 68,987 -2.7% 3.4% 9% Public institutions 4,
Slide 6: Wealth management and insurance
Wealth management and insurance Substantial improvement in both managed balances and recurring revenue Assets under management & insurance Assets under management (€bn) revenues(1)(€m) +9% 21.4 23.4 20.9 YoY +14% 9.0 Vs. 2023 Other 9.5 9.6 94 95 84 Mutual Funds 11.4 11.8 14.4 +22% YoY 1Q23 1Q24 1Q25
Slide 7: Lending
Lending Positive quarterly evolution of the loan book with improved dynamics in all major portfolios Performing loan book Performing loan book € million Breakdown Million Euros 1Q24 4Q24 1Q25 QoQ YoY 7% 10% Public sector 4,569 4,465 4,590 2.8% 0.5% Private sector 42,959 41,888 41,922 0.1% -2.4% Corp
Slide 8: New lending
New lending Private sector lending +44% YoY, improving dynamics steadily in all books Total private sector lending (€m) Business & SE lending (€m) 2,250 +44% 1,356 +49% 1,870 YoY 1,085 YoY 1,567 913 1Q24 4Q24 1Q25 1Q24 4Q24 1Q25 Mortgages (€m) Consumer lending (€m) 714 +37% 176 180 +33% 608 520 YoY
Slide 9: ESG
ESG Progressing on the sustainability roadmap Green Bonds: 2.3x eligible collateral, 81k Tn CO2 avoided in 2024 (+48% vs. 2023) 70% of risk to private sector covered with decarbonization targets so far. New sectors to be added E 30% reduction target of our own Carbon footprint for 2030 61% art. 8 y
Slide 10: Index
Index 1 Key highlights 2 1Q25 Results: • Business activity • Financial Results • Asset quality • Solvency & liquidity 3 Final Remarks 4 Appendix 10
Slide 11: Income statement
Income statement Net income improves by 43% YoY on the back of resilient NII, improved activity and changes in banking tax P&L statement QoQ YoY Main variations: Million euros 1Q24 4Q24 1Q25 (%) (%) Net Interest Income 390 381 369 -3.1% -5.6% Net interest income: Sustained on a quarterly Dividends 0
Slide 12: Net interest income
Net interest income Customer spread down in the quarter, negatively affected by daycount, with lower deposit costs and loan yields Average quarterly yields and costs(1) (%) Yearly evolution 3.59% 3.55% 3.48% 3.33% 3.13% NIM (2) -11bp 2.91% 2.83% 2.75% 2.61% 2.49% 1.82% 1.83% 1.81% Loan -46bps 1.77%
Slide 13: Net interest income evolution
Net interest income evolution Stable in the quarter, lower wholesale and retail funding costs offset lower loan yields Net interest income quarterly evolution(€m) Deposits: lower cost of deposits and 14 lower average remunerated balances 1 10 5 Lending: Slightly lower average 31 balances together wi
Slide 14: Fee income
Fee income Fees keep evolving towards a mix of greater added value products for the customers Net fees(€m) Fee income breakdown (%) QoQ YoY Million Euros 1Q24 4Q24 1Q25 (%) (%) Payments and accounts 70 66 63 -4.0% -9.1% 9% 6% Non-Banking fees 61 65 68 5.0% 11.7% 21% 19% Mutual funds 31 34 36 7.6% 17
Slide 15: Other income
Other income Improvement year-on-year due to the accounting of the new banking tax* Other income breakdown (€m) QoQ YoY Million Euros 1Q24 4Q24 1Q25 (%) (%) Dividend income 0 1 1 -58% 65% Associates 25 13 22 65% -12% Trading income 1 5 4 -22% 202% Other operating income/expenses (85) (10) (12) 18% -
Slide 16: Operating expenses
Operating expenses Cost to income improves by 3 p.p. year on year despite costs increase Operating expenses Quarterly evolution (€m) Cost to income 1Q25(1) (%) +4.5% 49% 225 230 235 YoY 22 22 46% 22 68 65 71 135 143 142 1Q24 4Q24 1Q25 1Q24 1Q25 Personnel expenses Administrative expenses D&A (1) Cost
Slide 17: Cost of risk and other provisions
Cost of risk and other provisions Cost of risk in line with 1Q24 and within guidance for 2025 with stable other provisions Loan loss provisions and credit cost of risk(1) (€m) Total provisions evolution(€m) 31 32 88 29 27 24 20 53 53 35 3 31 32 33 22 19 (0) 1Q24 2Q24 3Q24 4Q24 1Q25 1Q23 1Q24 1Q25 Ot
Slide 18: Profitability
Profitability Significant improvement in profitability, enabling the adjusted ROTE target to be in track Net profit and Banking margin(1)(€m) Return on tangible equity (ROTE)(2,3)(%) 11% 300 296 350 250 266 300 218 6% 158 250 200 153 4% 200 150 111 150 10% 100 63 34 100 6% 4% 50 50 0 0 1Q22 1Q23 1Q2
Slide 19: Index
Index 1 Key highlights 2 1Q25 Results: • Business activity • Financial Results • Asset quality • Solvency & liquidity 3 Final Remarks 4 Appendix 19
Slide 20: Non-performing loans
Non-performing loans Non-performing loans fell by 16% year on year with coverage ratio improving to 70% (+4p.p) Non-performing loans(€m) Non-performing loans breakdown (%) 1,460 -16% YoY 1,417 -5% QoQ 1,348 5% 1,292 35% 1,230 56% 1Q24 2Q24 3Q24 4Q24 1Q25 3% 3.0% 2.9% 2.8% 2.7% 2.6% Corporate Loans R
Slide 21: Non-performing assets
Non-performing assets NPAs reduced by 22% over the last 12 months with foreclosed assets decreasing by 30% Foreclosed assets evolution(€m) Gross non-performing assets(%) 33% annualized turnover in 1Q25, 70% 71% 73% Coverage (%) in line with 2024 11 2,662 2,197 2,073 NPLs 1,460 73 1,292 905 1,230 843
Slide 22: Index
Index 1 Key highlights 2 1Q25 Results: • Business activity • Financial Results • Asset quality • Solvency & liquidity 3 Final Remarks 4 Appendix 22
Slide 23: Solvency (I/II)
Solvency (I/II) CET1 fully-loaded improved by 27bps in the quarter at 15.4% CET1 capital quarterly evolution (1),(2) (%) 0.55% 0.12% 0.06% Main positive in the quarter come 0.35% from organic generation 15.4% 15.5% 15.1% Main negative effects are the accrual of 60% dividend and AT1 coupon 4Q24 FL 1Q
Slide 24: Solvency (II/II)
Solvency (II/II) Comfortable capital position with ample regulatory buffers Capital structure – MREL (1) Capital levels versus current 28.1% 27.4% requirements 5.7% 5.1% SREP requirement (Total) 12.65% 2.8% 2.8% 3.1% 2.1% MREL(2) 1.9% requirement 24.5% 1.9% 22.1% 22.3% CET 1 buffer(3) €2.1bn 14.5% 1
Slide 25: Liquidity
Liquidity Best in class in liquidity position Liquid assets(€m) Main liquidity ratios 11,549 41,234 Loan to 69% deposit 29,685 NSFR 162% LCR 270% Net Liquid Assets Additional capacity to issue Total liquidity 25
Slide 26: Fixed income portfolio
Fixed income portfolio Increased portfolio size on the back of excess liquidity with stable yield and duration Fixed Income portfolio evolution(€bn) Fixed income portfolio breakdown (%) 30 82% 28 Amortized cost 26 10% 11% 1Q24 4Q24 1Q25 2.6% 2.6% 2.6% 80% Yield evolution(1) 2.4 2.7 2.8 Public debt S
Slide 27: Index
Index 1 Key highlights 2 1Q25 Results: • Business activity • Financial Results • Asset quality • Solvency & liquidity 3 Final Remarks 4 Appendix 27
Slide 28: Final remarks
Final remarks Excellent start of 2025 towards higher structural profitability and shareholder remuneration Scaling up to greater structural profitability ~11% RoTE (1) 1Q25 (vs 6% in 1Q24) Continuous improvement in asset quality -22% NPAs YoY (-6% QoQ) High solvency position 15.4% CET1(2) +88bps YoY
Slide 29: Appendix
Appendix 29
Slide 30: Guidance 2025, reiterated from last quarter
Guidance 2025, reiterated from last quarter 2025 guidance Net interest income >€1,400M Fees Flat Costs c.+5% Cost of Risk ~30bps Other provisions <€100m Business volume(1) +~3% RoTE(2) @12.5% CET1 c.10% (1) Includes performing loans, customer deposits and off-balance sheet funds. (2) Shareholder rem
Slide 31: Wholesale Funding
Wholesale Funding Wholesale funding: breakdown and maturities (1) Maturities breakdown (1,2) 11,000 5.7% 7.0% Instrument 2025 2026 2027 >2027 Total 9,000 3.5% 3.6% 3.2% 5.0% 3.0% AT1 - 500 - - 500 7,000 1.0% Tier 2 - - 300 300 600 3,930 5,000 -1.0% Senior non-preferred - 500 300 - 800 1,942 1,710 3,
Slide 32: Lending portfolios
Lending portfolios ICO Loans evolution (€m) Corporates portfolio (performing) 4% 2,489 2,076 33% 1,431 942 866 63% 4Q21 4Q22 4Q23 4Q24 1Q25 Real Estate SMEs & SE Other corporates 32
Slide 33: Breakdown of NPLs and stages
Breakdown of NPLs and stages Credit breakdown by stages March 2025 (€m) Stage 1 Stage 2 Stage 3 Gross balance 43,809 2,703 1,230 Coverage 144 164 558 Coverage level(%) 0.3% 6.1% 45.4% 33
Slide 34: Share and book value
Share and book value Share and liquidity(1): 4Q24 1Q25 # O/S shares (m) 2,571 2,571 Last price (€) 1.27 1.71 Max price (€) 1.33 1.81 Min price (€) 1.06 1.26 Avg. daily traded volume (#shares m) 6.88 6.91 Avg. daily traded volume (€ m) 8.16 10.55 Market Capitalization (€ m) 3,276 4,387 Book Value: BV
Slide 35: Income statement
Income statement Million euros 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 QoQ (%) YoY (%) Net Interest Income 295 321 357 380 390 383 384 381 369 -3.1% -5.6% Dividends 0 18 6 0 0 8 5 1 1 -58.0% 64.9% Associates 14 34 15 29 25 34 15 13 22 65.2% -11.6% Net fees 135 134 132 133 130 126 125 131 132 0.
Slide 36: Balance sheet
Balance sheet Million euros 31/03/2024 30/06/2024 30/09/2024 31/12/2024 31/03/2025 Cash on hand, Central Banks and Other demand deposits 10,375 8,388 6,777 7,502 7,726 Assets held for trading & Financial assets at fair value through P&L 601 913 1,192 1,142 1,456 Financial assets at fair value throug
Slide 37: Important legal information
Important legal information This presentation (the Presentation) has been prepared by Unicaja Banco. S.A. (the Company or Unicaja Banco) for informational use only. The recipient of this presentation has the obligation of undertaking its own analysis of the Company. The information provided herein i
Slide 38: Many thanks
Many thanks 1Q25 Earnings presentation