Grupo Financiero Banorte Sab De Cv Class O · BMV:GFNORTE/O

Grupo Financiero Banorte Sab De Cv Class O — Q2 2025 Earnings Presentation

28 slides from Grupo Financiero Banorte Sab De Cv Class O's earnings presentation, July 2025

  1. Slide 1: Banorte

    ae BANORTE

  2. Slide 2: History and Business Highlights, Market Presence, Digital Bank

    Us History and Business Highlights → Us Mkt Market Presence → Mkt TI Digital Bank → TI Results NIM NIM NIM → Rev Revenue composition → Rev C/I Cost to Income → C/I NI Net Income → NI ROE ROE / ROA → ROE Deposit & Loans L/D Loans / Deposits → L/D Dep Deposits growth → Dep Loan Loan growth Loan → AQ A

  3. Slide 3: From Regional Bank to Second Largest National Financial Group

     From Regional Bank to Second Largest National Financial Group 15.1%* 4,5,6 Plan 1,2,3 Plan 20|20 Plan • Best experience • Banorte’s Digital Client • Best Transformation Business Diversification Segmentation personalized • JV Rappi offer * Loan book IT : central DB, Market Share Inorganic Growth mu

  4. Slide 4: Nation Wide Operation 2Q25

     Nation Wide Operation 2Q25 1,205 Branches 11,650 ATM 228,826 POS 19,503 Correspondents

  5. Slide 5: A Leading Bank in Mexico Globally Recognized

     A Leading Bank in Mexico Globally Recognized Balanced business mix Strong retail, wholesale and premium banking platforms. Sound Fundamentals Solid asset quality, increasing profitability, high liquidity and strong capitalization ratios. Investment grade ratings S&P, Fitch, Moody’s, and HR Ratings

  6. Slide 6: Strategy – Client centric & Digital Evolution

     Strategy – Client centric & Digital Evolution PRODUCTS & DISTRIBUTION SOLUTIONS CHANNELS Deposits & Loans Mobile Client Segmentation Insurances ▪ 13.0 million banking clients Web Pensions 7.9 million Afore clients ATM Hyper-personalization ▪ Structured Info & Learning Annuities (Central DB & Watso

  7. Slide 7: Deposit & Loan Market Share

     Deposit & Loan Market Share Deposits Loans BBVA Others Others 22% 22% BBVA 26% 26% Inbursa 2nd 6% 2nd Inbursa 4% Banorte HSBC 14% Banorte 6% 15% Scotiabank 6% Scotiabank HSBC Banamex 7% Banamex Santander 7% Santander 9% 6% 12% 12% Source: CNBV May 2025

  8. Slide 8: Market Share by Segment

     Market Share by Segment Auto Payroll C. Card Mortgage Commercial Government Deposits May-24 May-25 May-24 May-25 May-24 May-25 May-24 May-25 May-24 May-25 May-24 May-25 May-24 May-25 Banorte 18.1% 18.7% 20.8% 21.1% 10.7% 11.2% 19.5% 19.8% 12.5% 12.7% 26.6% 25.7% 13.6% 14.0% BBVA 22.7% 22.4% 38.9%

  9. Slide 9: Digital Transformation Gaining Share

     Digital Transformation Gaining Share Transactions (Tx) Transactions 2Q25 Branches 1.4% 1,600 (millions) 1,423 WEB 1,400 8% POS 1,200 21% 1,000 Correspondents 0.2% 0.0% 800 Call Center 9% 600 ATM 23% y/y 61% Mobile 400 200 - 1Q 3Q 1Q 3Q 1Q 3Q 1Q 3Q 1Q 3Q 1Q 2Q 2020 2021 2022 2023 2024 2025 Customer

  10. Slide 10: Leaders in the Business & Infrastructure for the Payments Market

     Leaders in the Business & Infrastructure for the Payments Market TDF (Tarjetas Del Futuro) Credit Cards Rappi JV POS Transactions 9% 15-year commercial agreement y/y 500 Digital The best DIGITAL PLATFORM for aggregators Physical 199 400 192 192 300 200 287 255 272 100 0 1Q22 2Q22 3Q22 4Q22 1Q23 2Q

  11. Slide 11: Results

    GRUPO FINANCIERO BANORTE

  12. Slide 12: Bank Net Interest Margin

     Bank Net Interest Margin NIM 7.0% 6.5% 6.5% 6.5% 6.4% 6.3% 6.4% 6.4% 6.5% 5.8% 5.9% 5.9% 5.9% 6.0% 5.5% 5.2% 4.8% 4.9% 4.8% 5.0% 4.7% 4.5% 4.5% 4.0% 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2Q24 3Q24 4Q24 1Q25 2Q25 Previous criteria IFRS NIM (Post-Provision) 6.0% 5.5% 5.4%

  13. Slide 13: Improving Efficiency

     Improving Efficiency Cost to Income Previous Criteria 55.2% 53.7% 50.5% 50.9% 52.0% 47.5% 48.2% 44.9% 47.0% 45.0% 45.0% 41.4% 42.3% 42.0% 45.3% 39.0% 37.6% 37.0% 40.4% 38.4% 32.0% 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2Q24 3Q24 4Q24 1Q25 2Q25 Revenues & Expenses Million Pesos

  14. Slide 14: Strong Net Income

     Strong Net Income Net Income Million Pesos 50,000 2% YoY 7% YoY 44,854 13,000 45,000 CAGR 41,946 11,969 2014-2023 40,000 12,000 11,715 +14% 11,227 35,000 11,000 34,549 27,493 26,086 30,000 26,086 10,000 24,834 25,548 25,000 * w/o advanced 26,289 provisions 9,000 18,339 23,158 20,000 * Recurring 15

  15. Slide 15: Constant Positive growth in Profitability

     Constant Positive growth in Profitability 3.0% ROA 2.5% 2.5% 2.6% 2.5% 2.4% 2.4% 2.5% 2.3% 2.1% 2.02% 2.0% 1.8% 2.2% 1.6% 1.6% 1.4% 1.4% 1.5% 1.5% 1.7% 1.6% 1.0% 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2Q24 3Q24 4Q24 1Q25 2Q25 Previous Criteria IFRS Recurring 35.0% ROE 31.

  16. Slide 16: Loans & Deposits

    Loans & Deposits

  17. Slide 17: Healthy Funding & Loan Portfolio Structure

     Healthy Funding & Loan Portfolio Structure Billion Pesos $1,205 bn 2020 2Q25 Funding $855 bn US 64.0 bn Interbank Money Interbank Money Loans Loans Market Market 4%1% Time 30% Time Demand 65% Demand Loan Portfolio $1,151 bn $783 bn US 61.1 bn Consumer Consumer Government 13% 19% Government Mortgag

  18. Slide 18: Loyal Deposits' Base

     Loyal Deposits’ Base Deposits CAGR 2013-2024 YoY +10% 1,123 1,129 1,059 1,018 Billion 1,100 11% Core Deposits* Time Demand 962 Pesos 840 900 751 750 750 796 792 744 713 637 667 689 11% 700 590 623 509 551 533 538 538 436 414 438 500 384 384 397 336 351 316 305 328 337 300 273 300 255 223 229 211 2

  19. Slide 19: Continued Growth in Performing Loan Book, Special Focus on Consumer

     Continued Growth in Performing Loan Book, Special Focus on Consumer US 61.1 bn US 26.7 bn Total Loan Portfolio Consumer Portfolio 550 477 488 502 1,300 500 1,151 1,160 1,151 1,200 450 371 1,100 400 12% YoY 897 322 323 1,000 350 304 286 900 803 803 267 756 744 783 8% YoY 300 237 800 250 201 CAGR: 7

  20. Slide 20: Sound Asset Quality

     Sound Asset Quality Non-Performing Loan Ratio 3.07% 2.91% 3.00% Previous Criteria #¡REF! IFRS 2.50% 2.23% 2.00% 1.84% 1.67% 1.64% 1.50% 1.08% 1.11% 0.97% 1.01% 0.96% 0.94% 0.91% 0.90% 1.00% 0.89% 0.98% 0.50% 2012 2013 2014 2015 2018 2019 2020 2021 2022 2023 2Q24 3Q24 4Q24 1Q25 2Q25 2Q24 3Q24 4Q24

  21. Slide 21: Sound Asset Quality

     Sound Asset Quality Coverage Ratio 250% 227% 217% 186%186% 186% 190% 200% 159% 142% 201% 139% 138% 150% 128% 103% 106% 115% 100% Previous Criteria 50% 0% 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2024 2Q24 3Q24 4Q24 1Q25 2Q25 Cost of Risk 2.8% 3.0% 2.2% 2.5% 2.0% 2.3% 1.4% 1.5% 2.0% 1.8% 1

  22. Slide 22: Healthy Liquidity

     Healthy Liquidity Loans to Deposits 105% 101% 100% 98% 97% 95% 95% 90% 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 20172017 2018 2019 2020 2021 2022 2023 2024 2025 Liquidity Coverage Ratio - LCR 230% 210% 184% 183% 190% 166% 170% 150% 130%

  23. Slide 23: Strong Capital Position

     Strong Capital Position Capital Adequacy Ratio Basel III 24.7% 22.8% 22.9% 21.8% 21.7% Tier 2 20.7% TLAC 20.2% 20.2% 0.2% to 2025 19.2% 18.5% 17.90% 17.3% 17.2% 7.6% 15.3% 15.3% 16.275% 14.6% Total +4.875% Tier 1 TLAC 22.7% 4Q24 11.40% 9.40% 13.9% 15.3% 15.1% 14.7% 14.1% 13.9% 13.2% 14.4% 14.0% CE

  24. Slide 24: Analysts' Opinion & Investment Grade by All Major Rating Agencies

     Analysts’ Opinion & Investment Grade by All Major Rating Agencies Analysts’ Estimates Ratings Agencies (as of Jun 30, 2025) Agency Rating Outlook Date Net Income 2025 $59,521 Target Price $183.68 Standard & Poor’s BBB Stable Aug-24 Maximum $230.0 Number of Analysts 21 Fitch BBB- Stable Nov-24 # BU

  25. Slide 25: Appendix

    Appendix BANORTE

  26. Slide 26: Quarterly Summary

     Quarterly Summary Consolidated Statement of Comprehensive Income and Consolidated Statement of Financial Change Change Position Highlights - Banorte 2Q24 1Q25 2Q25 1H24 1H25 (Million Pesos) 1Q25 2Q24 1H24 Net Interest Income 26,851 28,525 28,514 (0%) 6% 52,938 57,039 8% Non-Interest Income 4,636 5

  27. Slide 27: Quarterly Summary

     Quarterly Summary Financial Ratios - Banorte 2Q24 1Q25 2Q25 Profitability: NIM (1) 6.4% 6.5% 6.4% NIM after Provisions (2) 5.2% 5.3% 5.3% ROE (3) 31.5% 28.0% 30.2% ROA (4) 2.6% 2.4% 2.5% Operation: Efficiency Ratio (Cost to Income) (5) 36.0% 37.6% 39.0% Infrastructure 2T24 1T25 2T25 Operating Effi

  28. Slide 28: Corporate Responsibility and Sustainability

     Corporate Responsibility and Sustainability Global Initiative Report (GRI Standards) UNEP Finance Initiative International standards on sustainability reporting and disclosure of Initiative that aims to identify, promote and carry out the adoption of best economic, environmental and socialtopics.

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