Credito Emiliano S.p.a. · MIL:CE
Credito Emiliano — Credem Group — Q1 2026 Earnings Presentation
25 slides from Credito Emiliano's earnings presentation, May 14, 2026
Slide 1: Group Results 1Q26
yr S= GROUP RESULTS 1026
Slide 2: 1Q26: Highlights
1Q26: HIGHLIGHTS €139.5 MLN 14.4% 12.8% PROFITABILITY NET ROTE ROE PROFIT Gross NPL Ratio Net NPL Ratio 2.2% 2.2% 1Q26 0.7% 1.6% ASSET QUALITY 16.24% CET1 7.70% Ratio 8.54% CAPITAL SOUNDNESS 2026 P2R 1.25%, lowest among Italian banks in Europe *1Q25 Normalized Net Profit equal to €135.6 million, net
Slide 3: 1Q26: Highlights
1Q26: HIGHLIGHTS +2.8% +4.4% +2.3% +2.6% VOLUMES YoY YoY YoY YoY Loans Direct funding 745 1Q26 mln PRODUCTION Customer funding Net inflows escluding >€250 mln corporate 1Q26 total net inflows ~1.7 MLN +5.8% VS 1Q25 CUSTOMERS Total customers Loans and funding: ABI Monthly Outlook April 2026, Private
Slide 4: Business Diversification
BUSINESS DIVERSIFICATION Operating Income 475.4 461.6 465.5 481.0 502.9 Core Operating Income** 433.9 442.2 454.8 466.8 463.0 0.3% 0.5% 2.1% 1.3% €/million 1.8% 7.0% 3.9% 1.8% 0.8% 6.6% 49% 52% 54% 52% 49% 42% 44% 44% 45% 43% 1Q25 2Q25 3Q25 4Q25 1Q26 Core NIM on Operating Income NII on Operating Inc
Slide 5: Contribution to Consolidated Net Profit
CONTRIBUTION TO CONSOLIDATED NET PROFIT Commercial banking Credem Banca €76.7 mln Private Banking Credem Euromobiliare €15.2 mln Private Banking Extended Banking Services, Consumer Credit & Technology Credem Factor Avvera Credemtel €20.8 mln Credem Leasing MGT Wealth Management Euromobiliare SGR €27
Slide 6: Reclassified Income Statement
RECLASSIFIED INCOME STATEMENT Δvs €/million 1Q25 4Q25 1Q26 Δvs 1Q25 4Q25 Net Interest Income 234.2 250.3 244.4 4.3% -2.4% • Strong resilience in NII (+4.3% vs 1Q25; -2.4% vs 4Q25). Excellent Non Interest Margin 241.1 230.7 258.6 7.2% 12.1% performance of the Non Interest Margin - driven by strong ne
Slide 7: Net Interest Income
NET INTEREST INCOME Net Interest Income Euribor and spread BTP/Bund 111 240 249 250 244 104 6.0% 234 5.0% 83 74 69 4.0% 3.0% 2.56% 2.0% 2.11% 2.01% 2.04% 2.05% 1.0% 0.0% 1Q25 2Q25 3Q25 4Q25 1Q26 1Q25 2Q25 3Q25 4Q25 1Q26 3 months Euribor (avg) Spread BTP vs Bund 10 yrs (bps; avg) Net Interest Income
Slide 8: Customer Spread
CUSTOMER SPREAD The Group confirmed its ability to sustain commercial profitability in the latest quarter as well, with the customer spread standing at 297 bps, up 5 bps, recording a better trend than the Industry, which remained flat. In detail, since 3Q25 there has been an increase in the average
Slide 9: Securities Portfolio
SECURITIES PORTFOLIO Securities portfolio breakdown (€/mln, %) Italian government bond (€/bn) 4.7 5.0 4.8 11,525 11,171 11,054 11,901 12,441 4.1 4.1 Ita Govies 1Q26 HTC 3.9 HTCS 0.9 42% 37% 37% 42% 39% FVTPL 0.0 Total 4.8 6% 6% 1Q25 1H25 9M25 FY25 1Q26 4% 6% 6% 21% 23% 23% 22% • The securities portf
Slide 10: Non Interest Margin
NON INTEREST MARGIN Total* (€/mln) 241.1 221.5 216.2 230.7 258.6 6.5 Performance Fees 8.4 1.3 2.5 10.2 33.4 33.1 18.2 8.2 4.0 50.0 52.0 Income from Financial 51.3 51.1 50.6 Activities 27.1 24.3 20.3 22.1 26.2 Banking Fees & others 121.8 123.4 124.8 135.1 138.4 Insurance Income Asset Management and B
Slide 11: Operating Costs and D&A
OPERATING COSTS AND D&A Operating costs (€/mln) Employees 235 228 221 251 244 6,731 6,800 6,608 6,616 6,628 6,614 6,140 6,195 6,201 6,219 6,068 78 79 76 79 79 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1Q26 158 148 173 165 141 Financial Advisors 1Q25 2Q25 3Q25 4Q25 1Q26 Payroll Administrative
Slide 12: Loans to Customers
LOANS TO CUSTOMERS Loans to customers (€/bn) Other Loans 9.5 9.2 9.3 9.1 9.2 Residential Mortgage 11.4 Leasing 11.3 11.4 11.4 11.5 3.4 3.4 3.5 3.6 3.5 Consumer Finance 3.9 4.1 4.2 3.8 4.0 Short-Term Loans 7.8 8.5 8.0 9.3 8.2 1Q25 1H25 9M25 2025 1Q26 Total 35.4 36.7 36.1 37.7 36.4 Customer loans cont
Slide 13: Group Customers Funding: Net Inflows Breakdown
GROUP CUSTOMERS FUNDING: NET INFLOWS BREAKDOWN AUC Direct Deposits AUM + Insurance 1,338 723 770 481 458 541 58 155 -72 -203 -264 -318 -394 -1,020 -1,045 Tot. Net Inflows Net of corporates 712 1.516 314 828 745 Q1 22 Q1 23 Q1 24 Q1 25 Q1 26 Positive net inflows performance, reaching €266 million. Ex
Slide 14: Deposits, AUM and Insurance
DEPOSITS, AUM AND INSURANCE Total customer funding Direct deposits & retail bonds** €/mln 1Q25 FY25 1Q26 +4.4% YoY Sight / Saving Depo. 37,778 40,218 39,443 Retail Bonds & Other Deposits* 486 505 511 Industry Credem +182% Total Direct Funding 38,264 40,722 39,954 Insurance Reserves 9,553 10,518 10,7
Slide 15: Asset Quality: Gross NPL Ratio and Cost of Risk
ASSET QUALITY: GROSS NPL RATIO AND COST OF RISK Gross Non Performing Loans (€/mln,%) Gross NPL Ratio FY24 Disposal Disposal 2.4% ~49 mn ~62 mn Disposal 363 337 348 2.2% 2.2% Gross non-performing FY25 267 ~22 mn 1.6% loans down to 604 231 217 1Q26 million, also as a result 47 of disposals. 38 39 Gros
Slide 16: NPL: Coverage
NPL: COVERAGE NPL (€/mln) Gross Net Coverage Coverage ratio Bad Loans 217.3 39.8 81.7% UTP Loans 348.2 195.6 43.8% 57.3% Past Due 38.9 22.6 41.7% 45.3% 43.3% Total NPL 604.4 258.1 57.3% 39.6% + Net NPL +258.1 - (Shortfall + Addendum + Calendar) -15.2 Credem ITA** EU** EU NPL Net of Shortfall +242.8
Slide 17: Liquidity
LIQUIDITY NSFR LCR 141% 138% 136% 177% 168% 169% FY24 FY25 1Q26E FY24 FY25 1Q26 Loan to Deposit Ratio* 0.92 0.91 0.90 • Liquidity ratios remained sound and well above minimum capital requirements, enabling the Group to have a greater flexibility in setting future funding strategies. FY24 FY25 1Q26 *
Slide 18: Consolidated Capital Ratios
CONSOLIDATED CAPITAL RATIOS Fully phased figures Fully phased figures Credem Group Credemholding €, million FY25 1Q26 FY25 1Q26 CET 1 4,010 4,057 3,729 3,766 Total Capital 4,437 4,477 4,322 4,350 Capital absorption from: 1,888 1,858 1,885 1,855 Credit and Counterparty 1,602 1,571 1,600 1,568 Market
Slide 19: Annexes
ANNEXES 19
Slide 20: Reclassified Consolidated Income Statement by Business Line
RECLASSIFIED CONSOLIDATED INCOME STATEMENT BY BUSINESS LINE Parabancario, Commercial Private Asset Wealth Consolidation 1Q26 Banking Banking Consumer Credit, IT BANKING Management Insurance Management adjustments Consolidated Technology Net Interest Income 174.2 20.2 41.4 235.8 2.8 1.9 4.7 3.9 244.4
Slide 21: Volumes Reclassified by Business Line
VOLUMES RECLASSIFIED BY BY BUSINESS LINE Extended Banking Commercial Private Asset Wealth Consolidation 1Q26 Banking Banking Services, Consumer BANKING Management Insurance Management adjustments Consolidated Credit & Technology CUSTOMER LOANS 34,799.0 856.8 8,548.0 44,203.8 26.0 26.0 -7,815.1 36,41
Slide 22: Bonds Issuances and Maturities
BONDS ISSUANCES AND MATURITIES Recent issues (€/mln) Maturities (€/mln) 0 100 200 300 400 500 600 €/mln May-25 T2 Retail 500+ 750+ 24 25 Covered 500 Wholesale January-24 Covered Bond Bond 100 September-23 Social SP Social July-23 Social SP Retail Green Call Date Call Date 2023 July-23 Social SP Reta
Slide 23: Reclassified Balance Sheet
RECLASSIFIED BALANCE SHEET Total (€/bn) 68.1 67.1 FY25 1Q26 Assets (€/mln) Liabilities (€/mln) Other Assets 2,797 Equity 4,663 2,731 4,528 Hedging Derivatives 179 2,091 194 Other Liabilities 2,831 Fin. Assets (insurance 10,971 482 companies) 11,220 Hedging Derivatives 382 Fin. Assets HTC 6,702 10,51
Slide 24: Liquidity Reserves
LIQUIDITY RESERVES Liquidity Reserves (€/bn) • The total value of the Group's Liquidity Reserves stood at €17.7 billion, equal to 26% of Total Assets Total 17.7 18.9 • The value of Cash and deposits with Central Banks remaind stable at €1.5 billion Other ECB eligible 5.4 • ECB eligible unencumbered
Slide 25: Disclaimer and Contacts
DISCLAIMER AND CONTACTS The manager responsible for preparing the company’s financial reports Mr. Giuseppe Malato of Credito Emiliano S.p.A., declares, pursuant to paragraph 2 of Article 154 bis of the Consolidated Law on Finance, that the accounting information contained in this presentation corres