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

Grupo Financiero Banorte Sab De Cv Class O — Q1 2025 Earnings Presentation

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

1. Slide 1: Corporate Presentation 1Q25

   Corporate Presentation 1Q25

2. Slide 2: Table of Content

    Table of Content Markets Awards About Banorte 3 Results NIM 9 GFNORTEO Fees 11 Cost to Income 12 Net Income 13 ROE / ROA 14 Digital Bank 17 GBOOY Deposits & Loans 23 Loans / Deposits 24 Deposits growth 25 Loan growth 26 Asset Quality - NPL 29 XNOR CAR 31 BAP (Insurance, Pension & Afore) Insurance

3. Slide 3: About Banorte

   About Banorte Div TI NIM Dep BAP Guid ESG Eco Rev NI Div Loan ICAP BAP Div Rev LD Dep Eco ICAP BAP ICAP Guid L D Dep ESG Eco TI NIM Rev C/I NI ROE LD NIM Mkt Guid NI TI Hist C/I ROE Loan Mkt App ROE Loan 3 C/I Mkt Hist App Hist App

4. Slide 4: GFNORTE – A Leading and Profitable Financial Franchise in Mexico

    GFNORTE – A Leading and Profitable Financial Franchise in Mexico Adequate Business Mix - Strong retail, wholesale, premium traditional and digital banking platforms, as well as leading 1 insurance and pension fund management units. 2 Sound Fundamentals - Solid asset quality, high liquidity, and st

5. Slide 5: From Regional Bank to Second Largest National Financial Group

    From Regional Bank to Second Largest National Financial Group 15.2%* 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

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

    Strategy – Client centric & Digital Evolution PRODUCTS & DISTRIBUTION SOLUTIONS CHANNELS >1M New customer TDF clients behavior Deposits & Loans Mobile Client Segmentation Insurances ▪ 13.0 million banking clients Web Rappi 15-year 7.9 million Afore clients commercial Digital Bank Pensions ATM ▪ St

7. Slide 7: Diversified Business Mix

    Diversified Business Mix Banking Insurance & Pension Wealth Management Other Financials Digital - Traditional Funds Banco Casa de Operadora Banorte Arrendadora bineo* Mercantil Bolsa de Fondos Ahorro y y Factor Almacenadora del Norte Banorte Banorte Previsión Banorte Banorte 99.9999% 98.2618% 99.9

8. Slide 8: Business Mix - Diversified Net Income and Balance

    Business Mix - Diversified Net Income and Balance ◼ Sound business diversification: Net Income by Subsidiary ▪ Banorte Bank +7% y/y, ROE +28.0% 1Q25 3M25 ▪ Broker dealer & mutual funds +136% y/y ▪ Insurance +14% y/y Afore Holding ▪ Annuities +2% y/y 2.3% 1.8% Annuities ▪ Afore +12% y/y 4.5% Banort

9. Slide 9: Net Interest Margin Moving in the Right Direction

    Net Interest Margin Moving in the Right Direction NIM 7.0% 6.5% 6.3% 6.2% 6.3% 6.3% 6.3% 6.5% 6.0% 5.6% 5.6% 5.5% 5.4% 5.5% 5.3% 4.9% 4.8% 5.0% 4.7% 4.4% 4.5% 4.5% 4.1% 4.0% 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1Q24 2Q24 3Q24 4Q24 1Q25 Previous criteria IFRS NIM (Post-P

10. Slide 10: Net Interest Income sensitivity evolution

     Net Interest Income sensitivity evolution Bank's NII Sensitivity per 100bps change in rate - ◼ Dynamic risk management hedging Local Currency Balance Sheet Million pesos ◼ Focus on stable low-cost liabilities 1250 1,222 13% 1,127 11.5% ◼ Active ALCO 1000 979 10.6% 11% ◼ Organic growth of fixed rat

11. Slide 11: Core Banking Fees keep growing

     Core Banking Fees keep growing Net Fees 2% y/y ● Net fees +2% y/y; fees charged on services +10% y/y, Million fees paid on services +18% y/y 5,500 pesos 5,273 4,893 ● Core banking fees +11% y/y, (8%) q/q seasonal 5,000 4,793 4,500 ● POS transactions +13% y/y; +36% y/y in mobile monetary transactio

12. Slide 12: Efficiency already recovered from the pandemic

     Efficiency already recovered from the pandemic Cost to Income 57.0% 54.0% 52.0% 52.0% 48.5% 47.9% 44.9% Recurring 45.4% 47.0% 40.0% 39.7% 42.8% 42.6% 41.4% 42.0% 39.0% 39.1% 42.7% 37.4% 37.0% 36.2% 34.6% 37.0% 34.0% 32.0% 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1Q24 2Q24 3

13. Slide 13: Net Income growing

     Net Income growing Net Income Million Pesos 7% CAGR 2012-2024 YoY 15% 56,188 17,000 11% 55,000 52,418 q/q 16,000 45,408 15,288 45,000 15,000 14,208 36,528 13,724 35,048 14,000 35,000 31,958 30,508 13,000 23,908 *Recurring 25,000 19,308 17,108 12,000 8% y/y 15,000 10,888 11,000 5,000 10,000 2012 20

14. Slide 14: Positive Growth in Profitability

     Positive Growth in Profitability ROA 3.0% 2.4% 2.4% 2.5% 2.3% 2.3% 2.4% 2.2% 2.2% 2.05% 1.9% 1.9% 2.3% 2.0% 2.22% 1.6% 2.07% 1.4% 1.5% 1.5% 1.8% 1.3% 1.8% 1.5% 1.0% 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1Q24 2Q24 3Q24 4Q24 1Q25 Previous criteria IFRS Recurring ROA of Ban

15. Slide 15: Positive Growth in Profitability

     Positive Growth in Profitability ROE 25.0% 23.4% 22.4% 22.0% 21.3% 21.6% 20.3% 20.1% 19.2% 20.0% 17.0% 17.1% 19.3% 19.6% 15.3% 14.3% 14.2% 14.1% 15.0% 13.2% 13.3% 14.8% 10.0% 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1Q24 2Q24 3Q24 4Q24 1Q25 ROE of the Bank 35.0% 29.1% 30.0%

16. Slide 16: Positive Growth in Profitability

     Positive Growth in Profitability ROTE of the Group 30.0% 29.1% 28.0% 27.5% 27.4% 26.9% 26.9% 25.9% 26.9% 25.1% 25.0% 24.7% *Recurring 20.9% 20.0% 19.1% 18.7% 19.2% 17.3% 18.8% 16.2% 16.4% 15.0% 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1Q24 2Q24 3Q24 4Q24 1Q25 Note: A new me

17. Slide 17: Transformation

    Transformation Div TI NIM Dep BAP Guid ESG Eco Rev NI Div Loan ICAP BAP Div Rev LD Dep Eco ICAP BAP ICAP Guid L D Dep ESG Eco TI NIM Rev C/I NI ROE LD NIM Mkt Guid NI TI Hist C/I ROE Loan Mkt App ROE Loan 17 C/I Mkt Hist App Hist App

18. Slide 18: Digital Transformation Gaining Share

     Digital Transformation Gaining Share Transactions (Tx) Transactions 1Q25 Branches 1.5% 1,400 1,300 WEB (millions) 1,200 9% POS 1,000 21% Correspondents 0.2% 800 Call Center 0.4% 600 9% ATM 400 27% y/y 59% Mobile 200 - 1Q 3Q 1Q 3Q 1Q 3Q 1Q 3Q 1Q 3Q 1Q 2020 2021 2022 2023 2024 2025 Customers Using D

19. Slide 19: Customer's Voice, Key in Banorte's Evolution

     Customer’s Voice, Key in Banorte’s Evolution ● On the right track to reach a 90-point NPS score, based on improvements from internal customers: 1Q25 o processes / services / systems o products Banorte Móvil WEB App o branch-administration, contingency, others 85.4 +1.5 pts 85.1 +1.3 pts YOUR y/y y

20. Slide 20: A Customer-centric bank in minutes

    A Customer-centric bank in minutes 85 80 92 + 6-10 84 NPS 93 85 Hyperpersonalization New claim Mobile payroll loan Digital advanced payroll 82 offer (up to 5 products Portability Opening account in movil in one interaction) 4 min 3 min 3 min Tablet branches Time to Market Mobile account 10 min 3 min

21. Slide 21: 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 13% 15-year commercial agreement y/y 500 The best DIGITAL PLATFORM for aggregators Digital Physical 231 400 192 300 192 176 200 272 218 251 100 174 0 1Q22 2Q22 3Q22 1Q2

22. Slide 22: Ongoing RappiCard evolution

     Ongoing RappiCard evolution Rappi Cards Average Billing Thousand Rappi Cards 1,150 Million 3,250 2,927 Millares 1,200 1,140 3,000 1,015 2,750 ▄ Stressed to the market, now operating with risk metrics in 1,000 867 2,500 2,475 desired direction 800 2,250 2,174 ▄ Presenting positive unit economics 60

23. Slide 23: Loans & Deposits

    Loans & Deposits Div TI NIM Dep BAP Guid ESG Eco Rev NI Div Loan ICAP BAP Div Rev LD Dep Eco ICAP BAP ICAP Guid L D Dep ESG Eco TI NIM Rev C/I NI ROE LD NIM Mkt Guid NI TI Hist C/I ROE Loan Mkt App ROE Loan 23 C/I Mkt Hist App Hist App

24. Slide 24: Healthy Funding & Loan Portfolio Structure

     Healthy Funding & Loan Portfolio Structure Bank Deposits 2018 $759 bn 1Q25 1,193bn US58.4bn Senior Unsec. Debt Senior Unsec. Debt 3% Money Market 3% Money Market 28% Demand Time Time 66% Demand Loan Portfolio $777 bn 1,188bn US58.1bn Consumer Consumer Government 18% 15% Government Mortgage 25% Com

25. Slide 25: Loyal Deposits' Base

     Loyal Deposits’ Base Deposits CAGR 2013-2024 YoY +10% 1,123 Billion 1,059 1,059 1,100 Pesos 962 996 13% Core Deposits* Time Demand 840 900 751 750 750 796 744 705 744 637 667 689 13% 700 590 623 509 551 533 538 538 436 414 438 500 384 384 397 336 351 316 316 328 300 273 291 300 255 223 229 211 211

26. Slide 26: Continued Growth in Performing Loan Book, Special Focus on Consumer

     Continued Growth in Performing Loan Book, Special Focus on Consumer YoY Loan Portfolio 1,400 Billion 13% Pesos 1,188 1,180 1,180 1,200 1,032 1,047 1,000 920 802 821 821 777 763 800 CAGR: 616 +9.7% 567 600 518 472 401 425 400 200 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2021 2022 2023 2024

27. Slide 27: Cost of Funds vs Loan Growth y/y

     Cost of Funds vs Loan Growth y/y 20% 55% 15% 50% 13.5% 47.9% 10% 45% 5% 40% 0% 35% am j j a s o n d j f mam j j a s o n d am j j a s o n d j f mam j j a s o n d j f mam j j a s o n d j f m 2020 2021 2023 2024 2025 Loan Growth y/y Cost of Funds vs CETES Div TI NIM Dep BAP Guid ESG Eco Rev NI Div Lo

28. Slide 28: Rate comparison

     Rate comparison Reference Rate vs Loan Portfolio’s Yield Reference Rate vs Consumer Yield 14% 29% 28.7% 27.2% 12.7% 12% 24% 11.0% 10.3% 19% 10% 9.0% 8% 14% 13.8% 6% 9% 9.4% 9.0% 4% 4% AM J J A SOND J FMAM J J A SOND J FMAM J J A SOND J FM AM J J A SOND J FMAM J J A SOND J FMAM J J A SOND J FM 2022

29. Slide 29: Sound Asset Quality

     Sound Asset Quality NPL Ratio 3.5% 3.1% 2.9% 3.0% 2.5% 2.2% 2.1% 2.0% 1.8% 1.7% 1.7% 2.0% 1.5% 1.0% 1.1% 1.0% 0.9% 0.93% 0.93% 0.92% 1.0% 1.1% 0.9% 0.5% 0.0% 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1Q24 2Q24 3Q24 4Q24 1Q25 Previous criteria IFRS Previous Criteria IFRS | 20

30. Slide 30: Sound Asset Quality

     Sound Asset Quality Coverage Ratio 250% 224% 207% 198% 184% 188% 200% 179% 182% 184% 138% 139% 142% 138% 191% 150% 129% 107% 116% 105% 100% 50% Previous criteria IFRS 0% 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1Q24 2Q24 3Q24 4Q24 1Q25 Cost of Risk 3.0% 2.8% 2.5% 2.4% 3 mon

31. Slide 31: Strong Capital Position

     Strong Capital Position Capital Adequacy Ratio Basel III 24.7% 22.8% 22.9% 21.8% 0.2% 20.7% 21.3% Tier 2 TLAC 20.2% 20.2% 19.2% to 2025 18.5% 17.90% 17.3% 17.2% 8.3% 15.3% 15.3% 16.275% 14.6% Total +4.875% Tier 1 TLAC 4Q24 22.7% 11.40% 9.40% 15.3% 15.1% 14.7% 15.5% CET1 7.90% 13.9% 14.1% 13.9% 13.

32. Slide 32: Annuities NII vs. Technical Results

     Annuities NII vs. Technical Results When valorization on UDIS securities go up or down, the same effect occurs in Technical Reserves with null effect in Net Income Annuities 8,000 6,774 6,565 6,054 5,845 5,414 6,000 4,000 2,000 3,054 2,153 0 (1,357) (2,103) -2,000 (4,243) -4,000 (4,894) (4,748) -6

33. Slide 33: Annuities Margin – inflation effect

     Annuities Margin – inflation effect 4Q24 1Q25 Monthly Inflation $2,538 $5,414 $2,900 $5,845 1.2% 0.9% $2,559 $2,579 0.6% 0.3% $284 $288 0.0% Loans’ Investments’ Inflation Margin Loans’ Investments’ Inflation Margin -0.3% interests interests indexed interests interests indexed Feb-24 Jan-24 Oct-23

34. Slide 34: Technical Reserves – inflation effect

     Technical Reserves – inflation effect Monthly Inflation 4Q24 1Q25 2,538 $2,900 1.2% $83 $4,401 136 3,821 0.9% -$1,732 -1,943 3,090 $3,150 0.6% 0.3% 0.0% Issuance Technical Technical Issuance Technical Technical Others Net Increase Others Net Increase Interest - Interest Interest - Interest in Tech

35. Slide 35: BAP: Long Term Savings Business

     BAP: Long Term Savings Business Million Pesos 3M25 YoY 3M25 YoY Insurance Considering Banorte Futuro Net Income 2,589 15% 2,961 14% Equity 13,053 19% 29,548 8% Assets 101,471 30% 117,653 25% Premiums 22,494 23% 22,494 23% ROE 84.8% (3.4) pp 41.9% 2.1 pp AFORE Net Income 717 12% Equity 23,360 1% As

36. Slide 36: Insurance business steadily improving

     Insurance business steadily improving Technical Reserves Retained Insurance 9,658 Premiums 12,000 18,311 Million 10,000 6,708 20,000 pesos 8,000 18,000 6,000 2,353 15,069 4,000 16,000 2,000 1Q25 q/q y/y 14,000 0 Interest Income (Net) 1,002 2% 8% (2,000) 1Q 2Q 3Q 4Q 2Q 3Q 1Q 1Q 4Q Premium Income (N

37. Slide 37: 2025 Guidance

     2025 Guidance 2025 Guidance Loan Growth 8% – 11% NIM 6.1% – 6.4% NIM of Bank 6.4% – 6.6% Recurring Expense Growth 6.0% - 7.0% Total Expense Growth* 9.0% – 10.5% Efficiency 36.0% – 37.5% Cost of Risk 1.8% - 2.0% Tax Rate 26% – 28% Net Income 59.6 – 62.1 bn ROE 21.5% – 23.0% ROE of the Bank 28.0% –

38. Slide 38: Market Presence

    Market Presence Div TI NIM Dep BAP Guid ESG Eco Rev NI Div Loan ICAP BAP Div Rev LD Dep Eco ICAP BAP ICAP Guid L D Dep ESG Eco TI NIM Rev C/I NI ROE LD NIM Mkt Guid NI TI Hist C/I ROE Loan Mkt App ROE Loan 38 C/I Mkt Hist App Hist App

39. Slide 39: Deposit & Loan Market Share

     Deposit & Loan Market Share Deposits Loans BBVA Others Others 23% BBVA 22% 25% 25% Inbursa 2nd 6% 2nd Inbursa 4% Banorte HSBC Banorte 14% 7% Scotiabank 15% 7% Scotiabank HSBC Banamex 7% Banamex Santander 7% Santander 9% 6% 12% 11% Source: CNBV Feb 2025 Div TI NIM Dep BAP Guid ESG Eco Rev NI Div Lo

40. Slide 40: Market Share by Segment

     Market Share by Segment Auto Payroll C. Card Mortgage Commercial Government Deposits Feb-24 Feb-25 Feb-24 Feb-25 Feb-24 Feb-25 Feb-24 Feb-25 Feb-24 Feb-25 Feb-24 Feb-25 Feb-24 Feb-25 Banorte 21.7% 18.1% 20.7% 21.0% 10.6% 11.2% 19.5% 19.6% 12.4% 12.7% 25.7% 27.5% 13.7% 13.9% BBVA 27.1% 22.7% 38.5%

41. Slide 41: Market Share by Segment

     Market Share by Segment Total Loan Book Commercial & Corporate Mortgage 15.2% 12.7% 12.4% 19.6% 19.6% 12.1% 19.5% 11.8% 19.3% 15.1% 15.1% 11.6% 18.8% +37bps +19bps 14.9% +16bps 14.9% Feb-21 Feb-22 Feb-23 Feb-24 Feb-25 Feb-21 Feb-22 Feb-23 Feb-24 Feb-25 Feb-21 Feb-22 Feb-23 Feb-24 Feb-25 Credit Car

42. Slide 42: Afore Market Share (Retirement Savings)

     Afore Market Share (Retirement Savings) Assets Under Management Billion Pesos AUM Market Share Mar-24 Mar-25 Mar-24 Mar-25 XXI Banorte 1,201 1,366 19.6% 19.0% 1° Profuturo GNP 1,107 1,345 18.0% 18.7% SURA 951 1,148 15.5% 16.0% CitiBanamex 968 1,119 15.8% 15.6% Coppel 463 535 7.5% 7.4% PensionISSST

43. Slide 43: Insurance Market Share

    Insurance Market Share Million Pesos Premiums Market Share Net Income Market Share Dic-23 Dic-24 Dic-23 Dic-24 Dic-23 Dic-24 Dic-23 Dic-24 G.N.P. 99,678 116,483 13.4% 13.4% 4,010 3,564 7.2% 5.3% Metlife México 79,186 84,281 10.6% 9.7% 8,238 9,828 14.8% 14.6% BBVA 67,537 79,092 9.1% 9.1% 9,858 11,299

44. Slide 44: Annuities Market Share

     Annuities Market Share Million Pesos Resolutions * Market Share Mar-24 Mar-25 Mar-24 Mar-25 Banorte 3,365 3,588 39.9% 36.0% 2° Bancomer 2,100 4,208 24.9% 42.2% Profuturo GNP 2,960 2,184 35.1% 21.9% Total Industry 8,425 9,981 100.0% 100.0% Annuitants Market Share Mar-24 Mar-25 Mar-24 Mar-25 Banorte

45. Slide 45: GFNorte in the World

     GFNorte in the World Market Capitalization US 19.5bn 550 Billion 1Q24 1Q25 Pesos 508.6 (1) Total Shares Outstanding : 2,883.5 m 2,812.2 m 500 Float: ~ 86% ~ 86% 450 Total ADRs(2) Outstanding: 8.10 m 9.89 m 399.1 400 Ticket Indexes 376.7 350 IPC (BMV) Sustainable IPC (BMV) 300 GFNORTE O (BMV) MSCI

46. Slide 46: Analysts' Opinion & Investment Grade by All Major Rating Agencies

     Analysts’ Opinion & Investment Grade by All Major Rating Agencies Analysts’ Estimates Ratings Agencies (as of Mar 31, 2025) Agency Rating Outlook Date Net Income 2025 $60,039 Target Price $181.25 Standard & Poor’s BBB Stable Aug-24 Maximum $230.0 Number of Analysts 21 Fitch BBB- Stable Nov-24 # BU

47. Slide 47: ESG

    ESG Div TI NIM Dep BAP Guid ESG Eco Rev NI Div Loan ICAP BAP Div Rev LD Dep Eco ICAP BAP ICAP Guid L D Dep ESG Eco TI NIM Rev C/I NI ROE LD NIM Mkt Guid NI TI Hist C/I ROE Loan Mkt App ROE Loan 47 C/I Mkt Hist App Hist App

48. Slide 48: Sustainability Strategy

     Sustainability Strategy MSCI ESG Latest Ratings Action: AA Div TI NIM Dep BAP Guid ESG Eco Rev NI Div Loan ICAP BAP Div Rev LD Dep Eco ICAP BAP ICAP Guid L D Dep ESG Eco TI NIM Rev C/I NI ROE LD NIM Mkt Guid NI TI Hist C/I ROE Loan Mkt App ROE Loan 48 C/I Mkt Hist App Hist App

49. Slide 49: Sustainability Updates

    Sustainability Updates Released 4th annual Report on During the quarter +1,300 payroll GFNorte released its 2024 Integrated Climate Related Risks and clients attended our Financial Annual Report increasing transparency in: Opportunities (TCFD)​ Education Program • Renewable energy consumption Women’

50. Slide 50: Sustainable business

    Sustainable business Social and Environmental Risk Management System Responsible Investment *FN-AC-410a.1 AFORE XXI Banorte *FN-AC-410a.1 150,000 150,000 140,000 6.13% Non-sustainable During 1Q25: 130,000 135,000 120,000 120,000 analyzed portfolio 448 Analyzed loans 110,000 0.50% Sustainable 85 Loan

51. Slide 51: Appendix

    Appendix Div TI NIM Dep BAP Guid ESG Eco Rev NI Div Loan ICAP BAP Div Rev LD Dep Eco ICAP BAP ICAP Guid L D Dep ESG Eco TI NIM Rev C/I NI ROE LD NIM Mkt Guid NI TI Hist C/I ROE Loan Mkt App ROE Loan 51 C/I Mkt Hist App Hist App

52. Slide 52: Quarterly Summary

     Quarterly Summary GFNorte-Consolidated Statement of Change Comprehensive Income Highlights 1Q24 4Q24 1Q25 (Million Pesos) 4Q24 1Q24 Interest Income (1) 95,372 110,994 109,083 (2%) 14% Interest Expense 60,596 74,357 73,004 (2%) 20% Net Interest Income 34,777 36,637 36,079 (2%) 4% Net Service Fees (

53. Slide 53: Quarterly Summary

     Quarterly Summary Financial Ratios GFNorte 1Q24 4Q24 1Q25 NIM (1) 6.3% 6.5% 6.3% NIM adjusted w/o Insurance & Annuities 5.7% 6.2% 6.0% ROE (2) 22.0% 21.6% 23.4% ROA (3) 2.4% 2.2% 2.4% Efficiency Ratio - Cost to Income (4) 34.0% 42.6% 34.6% Operating Efficiency Ratio - Cost to Assets (5) 2.1% 2.6%

54. Slide 54: Quarterly Summary

     Quarterly Summary GFNorte-Consolidated Statement of Financial Change Position Highlights 1Q24 4Q24 1Q25 (Million Pesos) 4Q24 1Q24 Asset Under Management 4,142,599 4,495,930 4,718,961 5% 14% Stage 1 Loans 1,038,042 1,171,045 1,178,394 1% 14% Stage 2 Loans 9,026 8,611 9,718 13% 8% Stage 1 & 2 Loans

55. Slide 55: Quarterly Summary

     Quarterly Summary Change Share Data 1Q24 4Q24 1Q25 4Q24 1Q24 Earnings per share (Pesos) (1) 4.927 4.880 5.436 11% 10% Earnings per share Basic (Pesos) (2) 4.947 4.840 5.378 11% 9% Dividend per Share for the period (Pesos) 0.00 3.55 0.00 (100%) N.A. Payout for the period 0.0% 19.1% 0.0% (100%) N.A.

56. Slide 56: Healthy Liquidity

     Healthy Liquidity Loans to Deposits 110% 104% 105% 101% 100% 98% 95% 90% 1Q 3Q 1Q 3Q 1Q 3Q 1Q 3Q 1Q 3Q 1Q 3Q 1Q 3Q 1Q 3Q 1Q 2017 2018 2019 2020 2021 2022 2023 2024 2025 Liquidity Coverage Ratio - LCR 230% 210% 178% 183% 190% 164% 170% 150% 130% 110% 90% 70% 1Q 3Q 1Q 3Q 1Q 3Q 1Q 3Q 1Q 3Q 1Q 3Q 1Q 3

57. Slide 57: Selected industry exposures

     Selected industry exposures Vs. Total Loans 1Q25 Oil Industry* 3.0% Electricity Companies* 2.5% Construction & Real Estate Housing 1.5% Commercial 0.9% Vs. Total Others 1.3% Loans Malls 1.2% SMEs • 79% Nafin / Bancomext guaranteed 5.0% Tourism 5.9% loans, 47% of SME book Restaurants 0.3% Dollar de

58. Slide 58: Insurance and Annuities P&L

     Insurance and Annuities P&L Insurance P&L + Annuities P&L = Insurance & Annuities P&L Premium Premium Premium Revenue Revenue Revenue Claims Claims ∆ ∆ Claims = Technical Non-Interest = ∆ Technical Non-Interest Technical Result Non-Interest Result Income Income = Income Result Acquisition Technica

59. Slide 59: Financial Targets GFNorte

     Financial Targets GFNorte 5 years Net Income Double digit growth ROE 19.5% - 21.5% ROA 2.2% - 2.6% NIM 6.0% - 6.3% Cost-to-Income ratio 34% - 36% CET1 12.0% - 13.0% Cross-sell ratio 2.3 - 2.6 2.8* Note: Forecasts were generated under the new accounting rules, approaching convergence to IFRS intern

60. Slide 60: 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 social topics.

61. Slide 61: Contact Information and Reports

     Contact Information and Reports If you have any information request or comments, please contact Banorte's Investor Relations Department at: Tel: (52) 55 1670 2276 E-mail: investor@banorte.com We recently published the 1Q25 report. During 2025 we have released: 1. Annual Report 2024 to the Banking

62. Slide 62: Economic and Financial Perspectives

    Main macro view Economic activity will decelerate in Mexico in 2025 Risks abound amid increased global Economic and uncertainty Financial Risks and opportunities on trade Perspectives A solid banking sector Div TI NIM Dep BAP Guid ESG Eco Rev NI Div Loan ICAP BAP Div Rev LD Dep Eco ICAP BAP ICAP Gui

63. Slide 63: Forecasts of main economic and financial variables

     Forecasts of main economic and financial variables Forecasts of main macroeconomic and financial variables in Mexico End of period 2021 2022 2023 2024 2025F 2026F GDP 6.0 3.7 3.3 1.5 0.5 2.0 (% y/y) Inflation 7.4 7.8 4.7 4.2 3.8 3.9 (% y/y) Exchange rate 20.53 19.50 16.97 20.82 21.40 20.80 USD/MXN

64. Slide 64: We expect a slowdown in 2025, with a recovery in 2026

     We expect a slowdown in 2025, with a recovery in 2026 GDP Index 100 = 4Q18 115 2025: 2026: 2024: 105.7 107.9 110 2023: 105.0 103.7 105 100 2022: 100.4 95 2021: 2019: 99.6 96.8 90 2020: 91.1 Primary activities 2025: 2026: 85 0.5% 2.0% Industrial production 80 Services GDP 75 2017 2018 2019 2020 202

65. Slide 65: Performance across sectors will remain heterogeneous

     Performance across sectors will remain heterogeneous GDP: Supply GDP: Aggregate Demand % y/y nsa, % q/q sa % y/y nsa 4Q24 1Q25 2Q25 3Q25 4Q25 2025 4Q24 1Q25 2Q25 3Q25 4Q25 2025 GDP GDP 0.5 0.0 -1.3 0.2 2.9 0.5 0.5 0.0 -1.3 0.2 2.9 0.5 (% y/y) Consumption 0.4 0.4 -0.7 0.0 2.8 0.6 Agricultural -4.0

66. Slide 66: Domestic demand has moderated…

     Domestic demand has moderated… Employment: INEGI (general) and Investment Consumption IMSS (formal sector) Index 100 = July 2018 Index 100 = Feb 2020 Million 65 23 120 115 20.0% 110 22 110 60 7.1% 105 21 4.8% 100 100 20 55 90 95 19 80 90 50 INEGI (left axis ) 18 85 70 IMSS (right axis) 17 80 45 60

67. Slide 67: …with employment also slowing down

     …with employment also slowing down Formal employment Daily wages* Thousand, % y/y % y/y in real terms (ex-post) 50 Minimum wage 23 342.1 k -647.7 k 846.4 k 752.7 k 651.5 k 214.0 k 30 IMSS 1.7% y/y -3.2% y/y 4.3% y/y 3.7% y/y 3.0% y/y 1.0% y/y INEGI 7.9 22.5 10 7.4 3.4 -10 22 -30 Mar-15 Mar-17 Mar-

68. Slide 68: Mexico will continue growing at various speeds across states

     Mexico will continue growing at various speeds, with differentiated drivers across states Economic growth by state States with greatest relevance for % y/y, 20-year average manufacturing 1.- Nuevo Leon 2.- State of Mexico 3.- Jalisco 4.- Guanajuato 5.- Baja California States with greatest relevanc

69. Slide 69: State economic activity and Banorte's regional reach

     State economic activity and Banorte’s regional reach Heat Map: Contribution to Economic Growth Branch Network % GDP, contribution points # of branches Average Net Income by branch Thousand MXN Source: Banorte Div TI NIM Dep BAP Guid ESG Eco Rev NI Div Loan ICAP BAP Div Rev LD Dep Eco ICAP BAP ICAP

70. Slide 70: Nowcasting Economic Activity – IGAE (GDP proxy)

     Nowcasting Economic Activity – IGAE (GDP proxy) Nowcasting of Monthly Economic Activity - IGAE % y/y; nsa 30 IGAE Nowcast IGAE Nowcast 20 3.8 10 2.4 0 0.43 1.3 1.0 0.7 0.8 0.5 0.7 -10 0.3 0.5 0.43 0.2 0.0 -20 -0.1 -0.4 -1.10 -30 Jan-20 Feb-21 Feb-22 Mar-23 Mar-24 Mar-25 Jul-24 Aug-24 Sep-24 Oct-24

71. Slide 71: Performance of households' expenditures

    A Performance of households’ expenditures Households’ Expenditures – Resilient Sectors Households’ Expenditures – Vulnerable Sectors Debit & Credit Purchases in real terms; January 1st, 2020 = 100 Debit & Credit Purchases in real terms; January 1st, 2020 = 100 220 Supermarkets 350 Healthcare Accomm

72. Slide 72: Performance of businesses' revenues

     Performance of businesses’ revenues SMEs’ Revenues – Resilient Sectors SMEs’ Revenues – Vulnerable Sectors POS Billing in real terms; % y/y POS Billing in real terms; % y/y 3.6% 35.7% Professional Services Healthcare -4.4% 14.2% Recreation, Sports and Cultural 25.5% Events 8.1% 27.5% Retail Sales

73. Slide 73: Inflation has moderated, allowing for additional easing from Banxico

     Inflation has moderated, allowing for additional easing from Banxico Inflation forecast Reference rate forecast % y/y fortnightly frequency % 12 14 Headline 11 2024 12 Core 10.00 10 Non-core 10 2022: 9 7.8 8 8 2025 2023: 6 7.75 4.7 2025: 7 4 3.8 6 2024: 2 4.2 5 0 4 -2 3 Dec-21 Dec-22 Dec-23 Dec-24

74. Slide 74: The Board remains very dovish, concerned about growth

     The Board remains very dovish, concerned about growth Bias Member Relevant comments "...considered that the space for monetary policy easing could be smaller in the future…" Hawkish Jonathan Heath "...the forward guidance should emphasize that new information will be considered without haste and w

75. Slide 75: Banxico's hawk-o-meter

     Banxico’s hawk-o-meter Tone of Banxico’s Board comments Index* 0.60 Ave.-24 Mar-25 0.40 0.33 0.09 0.07 -0.18 -0.25 -0.27 -0.45 Jonathan Heath Galia Borja Victoria Rodríguez Gabriel Cuadra Omar Mejia Note: * From -1 to 0 implies a dovish tone; from 0 to 1 implies a hawkish tone Source: Banorte Div

76. Slide 76: The MXN will be influenced mostly by external factors

     The MXN will be influenced mostly by external factors USD/MXN forecast Performance of main currencies in the last 12 months Pesos per dollar % 23 RUB 11.7 22 CHF 10.8 SEK 8.9 21 MYR 6.2 JPY 6.0 20 2025: CZK 5.7 PLN 4.4 19 21.40 EUR 4.3 DKK 4.2 18 GBP 3.4 SGD 1.8 17 HKD 1.0 NOK 0.2 16 HUF 0.2 ILS 0

77. Slide 77: USD/MXN retains premiums amid greater volatility

     USD/MXN retains premiums amid greater volatility Performance of the Mexican peso USD/MXN* USD/MXN, +/-2σ from the 90-day moving average Relative to the 90-day moving average, daily data 21.50 USD/MXN ±2σ 6 2004 2008 2012 2016 2020 2024 5 20.50 4 Election day in the US 3 19.50 2 18.50 1 0 17.50 -1

78. Slide 78: Fiscal consolidation expected in 2025

     Fiscal consolidation expected in 2025, despite focus remaining on social programs Revenues vs GEPC estimated figures Federal government spending $ billon % of total spending 10,000 Estimated Observed 2025 2024 2023 2022 8,000 6,000 Spending ($ billion) 9,226.2 9,022.0 8,257.6 7,048.2 4,000 Social

79. Slide 79: Primary surplus expected, weaker MXN will impact debt total

     As such, a primary surplus is expected, although a weaker MXN will impact the debt total Primary Balance PEMEX maturities* % of GDP US$ billion 2 Observed GEPC (Nov'24) Pre-GEPC (Apr'25) 25 23.5 1.0 20 1 0.6 0.6 0.6 13.5 0.3 0.1 15 0 10 7.2 6.2 4.3 4.6 3.6 4.6 3.3 2.3 2.0 -0.3 -0.5 -0.1 5 -1 0 -0.

80. Slide 80: Claudia Sheinbaum's cabinet and composition of the legislative branch

     Claudia Sheinbaum’s cabinet and composition of the legislative branch Key actors within the Sheinbaum’s cabinet Lower House composition Interior: Infrastructure: Simple Two thirds Finance: Rosa Icela Jesús Antonio majority: 251 majority: Edgar Amador Rodríguez Esteva 334 (fmr. Minister of Security

81. Slide 81: Constitutional reforms presented by AMLO and changes from Sheinbaum

     Constitutional reforms presented by AMLO in early 2024 along with changes from Sheinbaum Reforms approved and to be approved Social Substantive Eliminate Animal Housing programs equality autonomous welfare bodies Austerity of Extortion and Wages Vapes and Electoral tax crimes as (minimum & governm

82. Slide 82: Impact of the tensions between the United States and China

     Impact of the tensions between the United States and China Foreign trade Armed conflicts Global economy Trump 2.0 Div TI NIM Dep BAP Guid ESG Eco Rev NI Div Loan ICAP BAP Div Rev LD Dep Eco ICAP BAP ICAP Guid L D Dep ESG Eco TI NIM Rev C/I NI ROE LD NIM Mkt Guid NI TI Hist C/I ROE Loan Mkt App ROE

83. Slide 83: Economic activity remains tied to performance in the US

     Economic activity remains tied to performance in the US GDP growth in US and Mexico Mexico GDP growth estimates* % y/y, 1990 to 2023 % y/y 8 2025 2026 y = 1.262x - 0.6836 1996 1997 2023 1994 6 R² = 0.4425 1990 2000 Banorte 0.5 2.0 2010 1991 2022 2012 2006 2011 1998 Consensus 0.3 1.5 4 2015 2004 20

84. Slide 84: US economic influence by sectors

     US economic influence by sectors US Economic Influence in the Mexican Economy % of GDP 56% Real estate services 56% of Mexico’s GDP depends on the US economy US Dependent Non-US Dependent Source: Banorte Div TI NIM Dep BAP Guid ESG Eco Rev NI Div Loan ICAP BAP Div Rev LD Dep Eco ICAP BAP ICAP Guid

85. Slide 85: US economic influence by states

     US economic influence by states US Economic Influence Top 7 States with High US Economic Dependency 1. Veracruz 2. Zacatecas 3. Guerrero 4. Nuevo Leon 5. Yucatan 6. Sonora 7. Estado de Mexico Top 7 States with None US Economic Dependency 1. Baja California Sur 2. Chihuahua 3. Jalisco 4. Michoacan

86. Slide 86: Mexico's location, demographics and natural resources remain key drivers

     Mexico's geographical location, benign demographics and natural resources (among other factors) remain as key drivers for the economy Real GDP growth FDI Population pyramid in 2020 % y/y US$ billion in nominal terms Million people by age bracket 8 50 2.0 40 Avg 2.2 0.5 2 30 20 -4 10 -10 0 1990 199

87. Slide 87: Key factors that led Donald Trump to the presidency

     Key factors that led Donald Trump to the presidency in the 2024 elections Political polarization and higher turnout of conservative voters Progressive agenda, gun rights, and social conservatism moved Republican voters Security and immigration Border crisis and perception of Foreign policy increas

88. Slide 88: Trump 1.0 vs. Trump 2.0, a more consolidated leadership

     Trump 1.0 vs. Trump 2.0, a more consolidated leadership Trump 1.0 VS. Trump 2.0 Republican majority for the first two years; then, Relationship with Congress Republican majority, facilitating his agenda without so Democrats took over the House many legislative obstacles Conflicts with the Republic

89. Slide 89: Two avenues of tariff threats under Trump 2.0

     Two avenues of tariff threats under the Trump 2.0 administration Tariff threats subject to immigration and fentanyl Tariff threats linked to the trade relationship VS. and USMCA issues Pressure Mexico to tighten immigration Rebalance bilateral trade in favor of the US Trump’s controls and combat f

90. Slide 90: Main US demands relate to immigration and illegal drugs

     The main demands from the US are related to immigration and illegal drugs Deportations per presidency Trump’s mass deportations Thousands Thousands (up to February 5th) 650 Clinton W. Bush Obama Trump Biden 4,800 (1993-2000) (2001-2008) (2009-2016) (2017-2020) (2021-2024) 600 4,000 869,646 2,012,5

91. Slide 91: Trump and his trade strategy

     Trump and his trade strategy Trade measures in his first term Trade mechanisms in his second term Tariffs of 25% on steel and 10% on aluminum Reciprocal tariffs Affecting the EU, Canada, and Mexico, its main metal Match foreign duties suppliers Progressive threat of tariffs starting at 5% and Meas

92. Slide 92: Mexico is the main US trading partner, leading in imports

     Mexico is the main US trading partner, leading in imports US: Imports of some top trading partners US: Exports of some top trading partners US$ billions US$ billions 600 400 348.5 505.9 350 334.0 500 2016 2024 462.4 2016 2024 438.9 412.7 300 266.7 400 250 230.2 293.5 300 277.7 200 143.5 150 200 16

93. Slide 93: Most of the US trade deficit comes from China

     Most of the US trade deficit comes from China US: Trade balance US$ billions 0 -20 -40 -60 -80 -100 China Mexico Ireland -120 Germany Vietnam Other -140 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016 2018 2020 2022 2024 Source: Banorte with data from the US Census Bureau Div TI N

94. Slide 94: Mexico is consolidating its position as main commercial partner with US

     Mexico is consolidating its position as main commercial partner with US US: Main commercial partners, ranking by imports % of total imports 23 Canada China Mexico 21 19 17 15.5 15 13.4 13 12.6 11 9 2002 2004 2006 2008 2010 2012 2014 2016 2018 2020 2022 2024 Source: Banorte with data from the US Ce

95. Slide 95: USMCA has chapters regulating trade and investment in North America

     USMCA has 34 chapters that regulate various areas of trade and investment in North America General and trade rules Digital commerce and services • Chapter 1: Initial provisions and general definitions • Chapter 8: Recognition of Mexican ownership of • Chapter 2: National treatment and market acces

96. Slide 96: Around 50% of our exports go through USMCA

     Around 50% of our exports go through USMCA US: Imports from Mexico and their duties in 2024 % Free by Free status for Item entered Other duty-free Other tariff Rank HS code Fraction % of the total legislation (e.g. HS chapters into warehouse General Rates schemes** schemes*** USMCA) 1-97 or FTZ TO

97. Slide 97: China remains as a low source for investment

     China remains as a low source for investment 2024 FDI by country of origin* Mexico: Commercial trade with China % of the total US$ billions 20 US 44.8 0 Japan 11.6 Germany 10.3 -20 Canada 8.7 -40 The Netherlands 5.1 -60 Belgium 4.2 -80 Exports Korea 3.5 Imports Argentina 2.9 -100 Trade balance Chi

98. Slide 98: The imports are focused on electronic equipment and machinery

     The imports are focused on electronic equipment and machinery Mexico: Imports from China* % Total imports US$110.7 billions* Others 16.0% Vehicles 11.6% Aluminum Furniture Copper 2.4% 1.9% 1.7% Projectors Art. of Machinery and eq. Plastics and surgical iron or Toys Electric equipment 34.7% 22.3% 3

99. Slide 99: The imports are focused on electronic equipment and machinery

     The imports are focused on electronic equipment and machinery Mexico: Imports from China* % Electric eq. imports US$38.5 billions* Others 16.0% Vehicles 11.6% Telephones 25.1% Transformers 8.2% Aluminum Electronic circuits 8.1% Furniture Copper Machinery parts 6.3% 2.4% 1.9% 1.7% Electrical applia

100. Slide 100: The imports are focused on electronic equipment and machinery

      The imports are focused on electronic equipment and machinery Mexico: Imports from China* % Machinery and eq. Imports US$24.6 billions* Others 16.0% Vehicles 11.6% Parts of machinery 21.4% Computers 15.9% Aluminum Air vacuum pumps 6.8% Furniture Copper Air conditioning 5.8% 2.4% 1.9% 1.7% Valves a

101. Slide 101: The imports are focused on electronic equipment and machinery

      The imports are focused on electronic equipment and machinery Mexico: Imports from China* % Other imports* US$17.7 billions** Others 16.0% Vehicles 11.6% Apparel art. & knitted access 9.1% Organic chemical products 9.1% Apparel art. & knitted accessories Aluminum Furniture Copper (ex. knitted) 6.0

102. Slide 102: The imports are focused on electronic equipment and machinery

      The imports are focused on electronic equipment and machinery Mexico: Imports from China* % Vehicles imports US$12.9 billions* Others 16.0% Vehicles 11.6% Vehicles 42.1% Parts and accessories 36.3% Aluminum Furniture Copper Goods vehicles 7.6% 2.4% Other parts and accessories 5.9% 1.9% 1.7% Motorc

103. Slide 103: Nearshoring could still continue in Mexico given comparative advantages

      Nearshoring could still continue in Mexico given comparative advantages on several fronts US$466.6bn US$18bn US$9.2bn US$8.8bn US$4.5bn (83%) (3%) (2%) (2%) (1%) Total impact from Autos Computers Auto parts Heavy Wires & nearshoring in the next (9%) (8%) (7%) vehicles cables 5 years: US$168bn (6%)

104. Slide 104: The United States remains at the forefront of investment in Mexico

      The United States remains at the forefront of investment in Mexico amidst tensions with China Foreign Direct Investment FDI in 2024 by country of origin* US$ billion % of total US 44.8 60.0 FCH: EPN AMLO Japan 11.6 Average: Average: Average: Germany 10.3 US$25.7 billion US$35.7 billion US$34.3 bil

105. Slide 105: FIBRAs and demand for industrial spaces

      FIBRAs and demand for industrial spaces Major industrial real estate markets in Mexico as of 4Q24 Demand for industrial spaces Industrial space Investment Cumulative demand growth growth 2025-2030 +96 parks by 2025 2030 8 million m2 +4 million m2 demand due to nearshoring +12.1% Most dynamic secto

106. Slide 106: However, some bottlenecks persist

      However, some bottlenecks persist Electricity demand in Mexico Maximum water level of Mexico’s dams Billion cubic meters ● According to the IEA the current electricity 130 consumption in Mexico is around 300 TWh 120 ● For the next five years it could need between 380 - 400 TWh 110 ● Mexico will ne

107. Slide 107: Mexico has benefited previously from similar investments

      Mexico has benefited previously from similar investments, driving structural changes across several industries Mexico: Non-oil exports to the US: Top five goods imported from US: Vehicle imports by country world* Mexico % of total vehicle imports (yearly figures) US$ billion constant prices (month

108. Slide 108: The main destination of Mexican exports is Texas

      The main destination of Mexican exports is Texas, followed by Michigan and California US: Imports from Mexico US$ billion, 2024 Imports 157.6 75.2 0.0 64.3 157.6 Con tecnología de Bing © GeoNames, Microsoft, TomTom *The three states represent close to 58% of the share of total imports Source: US C

109. Slide 109: Export centers are concentrated in the north and center of Mexico

      Export centers are concentrated in the north and center of Mexico Mexico: Exports to US US$ billion, 2023 55.7 gdp 81.7 69.1 0.0 55.8 29.1 81.7 29.0 Con tecnología de Bing © Microsoft, TomTom Source: Ministry of Economy Div TI NIM Dep BAP Guid ESG Eco Rev NI Div Loan ICAP BAP Div Rev LD Dep Eco IC

110. Slide 110: Geolocalization of industrial zones and parks and Banorte's branches

      Geolocalization of industrial zones and parks and Banorte’s branches Manufacturing industry and Banorte’s branches US$ millions Source: Banorte with figures from S&P and AMIA Div TI NIM Dep BAP Guid ESG Eco Rev NI Div Loan ICAP BAP Div Rev LD Dep Eco ICAP BAP ICAP Guid L D Dep ESG Eco TI NIM Rev C

111. Slide 111: Good's journey – Autos and other vehicles

      Good’s journey – Autos and other vehicles The road to U.S. – January 2021 to April 2023 US$ millions Source: Banorte with figures from S&P Global-Panjiva and AMIA Div TI NIM Dep BAP Guid ESG Eco Rev NI Div Loan ICAP BAP Div Rev LD Dep Eco ICAP BAP ICAP Guid L D Dep ESG Eco TI NIM Rev C/I NI ROE LD

112. Slide 112: Good's journey – Autos and other vehicles

      Good’s journey – Autos and other vehicles Key border crossings Shipping method % of total export value: January 2021 to April 2023 % of total export value: January 2021 to April 2023 Laredo (TAMPS) 40.1 Port of Veracruz (VER) 18.2 Port of Altamira (TAMPS) 9.1 Nogales (SON) 9.0 Juarez (CHIH) 8.8 P.

113. Slide 113: Nearshoring score – Top 10 states

      Nearshoring score – Top 10 states Nearshoring score – Top 10 states with the largest potential Score: Maximum value = 10 Nuevo León 9.3 Chihuahua 9.1 Baja California 8.9 Tamaulipas 8.5 Coahuila 8.2 Sonora 8.1 Querétaro 7.8 Jalisco 7.7 San Luis Potosí 7.6 Guanajuato 7.6 Source: Banorte Div TI NIM D

114. Slide 114: Banking credit forecast using lagged GDP

      Banking credit forecast using lagged GDP Banking credit Backtest and forecast* $ billons % y/y in real terms 5,200 Year Observed Model Forecast 4,700 Fitted 2021 -9.0 -7.8 4,200 Observed 2022 2.2 1.5 3,700 2023 5.6 5.4 2024 7.2 5.8 3,200 2025 4.7 2,700 Banking Credit Forecast Model 2,200 ⚫ Differe

115. Slide 115: Capitalization ratios

      Capitalization ratios Capitalization ratio % of net capital / credit risk assets Tier 1 Common Capital Additional Tier 1 Additional Capital Regulatory Minimum 26 24.8 24 22.7 22.6 22.6 22.2 22.2 22 20.6 20 19.2 18.7 19.0 18.8 18.6 18.5 18 17.8 17.2 17.0 16.6 16.3 16.3 16.1 16 15.7 15.3 15.2 15.2 1

116. Slide 116: Credit has grown significantly, while NPLs remain quite low

      Credit has grown significantly, while NPLs remain quite low Banking credit Non-performing loans ratio % y/y, in real terms % of total loan portfolio 18 10 Total Consumer Mortgage Firms Total Consumer Mortgage Firms 14 9 10 8 6 7 2 6 -2 5 -6 4 -10 3 -14 2 -18 1 -22 0 2020 2021 2022 2023 2024 2025 2

117. Slide 117: Financial access in Mexico

      Financial access in Mexico Key FAS Indicators Outstanding deposits with commercial banks % GDP 30 2016 2017 2018 2019 2020 2021 2022 27 24 Number of ATMs per 100,000 adults 54.59 55.62 59.56 62.38 63.16 63.56 66.32 21 18 Number of commercial bank branches 15 14.02 14.03 14.03 13.92 13.00 12.23 12.

118. Slide 118: Financial access in Mexico

      Financial access in Mexico Accounts Made or received a digital payment* % of population aged 15+, in a financial institution or mobile money % of population aged 15+ account 50 50 49.0 43.9 39.1 36.9 45 40 27.4 30 40 20 34.5 10 35 31.7 0 30 2011 2014 2017 2022 2014 2017 2022 Owns a credit or debit

119. Slide 119: Formal and informal savings

      Formal and informal savings Current savings instrument Reasons for not having a savings account* % of population between 18 and 70 years old % of population that does not have an account 100 80 33.2 32.2 39.8 33.6 Without savings She/he doesn't need it 35.8 60 13.6 15.4 21.6 5.4 4.6 15.3 Both Does

120. Slide 120: Formal and informal credit

      Formal and informal credit Current loan instruments Reasons for not having a loan* % of population between 18 and 70 years old % of population that does not have a loan 100 80 45.6 42.9 45.6 Without a loan 47.9 Doesn't like to borrow 38.4 60 12.6 12.7 11.0 11.9 Both 40 16.4 18.4 21.6 25.5 Only for

121. Slide 121: Access to financial instruments and digitalization in urban and rural populations

      Access to financial instruments and digitalization in urban and rural populations Use of financial instrument in the last year and by type Channels used to do transactions or check the of area account’s balance % of population between 18 and 70 years old % of population between 18 and 70 years old

122. Slide 122: Financial conditions of Mexicans

      Financial conditions of Mexicans Savings Savings relative to current income % of population aged 18-years-old or more % of population aged 18-years-old or more with savings Avg. 52.0 70 57.3 18 - 29 59.6 60 Women Men 30 - 49 54.0 50 - 64 50 46.9 ≥65 41.3 40 Debt 63.3 30 % of population aged 18-yea

123. Slide 123: Financial strategies and behavioral of Mexicans

      Financial strategies and behavioral of Mexicans Not enough money to cover his/her expenses Options to cover his/her expenses % of population aged 18-years-old or more % of population aged 18-years-old or more Total 30.5 Reduce expenses 68.3 Women 32.5 Borrow from family or friends 41.6 Men 28.0 Us

124. Slide 124: Financial strategies and behavioral of Mexicans

      Financial strategies and behavioral of Mexicans Means to cover an economic emergency (equivalent to How often do you have money left at the end of the month? one-month income % of population aged 18-years-old or more % of population aged 18-years-old or more 50 45.9 40 34.7 30 64.3 Loans from fami

125. Slide 125: MSMEs represent a key part of Mexico's productive chain

      MSMEs represent a key part of Mexico’s productive chain Key facts on MSMEs Average employees by MSMEs ▪ According to INEGI, there are around 5.1 million MSMEs in Mexico 25 23.11 ▪ They can be classified by employee size as: 22.5 • Micro: <10 employees 21.06 • Small: <100 employees 20 2020 2021 202

126. Slide 126: Key figures on AFOREs and the pension system

      Key figures on AFOREs and the pension system AUMs by Siefore Employer contributions to retirement % of GDP % of the base wage 20 16 15.0 11.5 12.5 13.5 15 10.5 12 9.5 7.5 8.5 10 8 6.5 5 4 0 0 1998 2003 2008 2013 2018 2023 2022 2023 2024 2025 2026 2027 2028 2029 2030 Investment regime by Siefore Ne

127. Slide 127: Job informality

      Job informality People working in informality Informality rate Population aged 15+, million % of population aged 15+ 34 62 32.3 60 32 58 30 56 28 54 54.5 26 52 24 50 22 48 20 46 Aug-06 Oct-12 Dec-18 Feb-25 Aug-06 Oct-12 Dec-18 Feb-25 Source: INEGI Div TI NIM Dep BAP Guid ESG Eco Rev NI Div Loan IC

128. Slide 128: Analyst Certification

     Analyst Certification. We, Alejandro Padilla Santana, Juan Carlos Alderete Macal, Alejandro Cervantes Llamas, Marissa Garza Ostos, Katia Celina Goya Ostos, Francisco José Flores Serrano, José Luis García Casales, Santiago Leal Singer, Víctor Hugo Cortes Castro, Leslie Thalía Orozco Vélez, Hugo Arman

129. Slide 129: Visit our website

     Visit our website Div TI NIM Dep BAP Guid ESG Eco Rev NI Div Loan ICAP BAP Div Rev LD Dep Eco ICAP BAP ICAP Guid L D Dep ESG Eco TI NIM Rev C/I NI ROE @alexpadillasan LD Mkt NIM Guid NI TI Hist C/I ROE Loan Mkt App ROE Loan 129 C/I Mkt Hist App 129 Hist App de BANORTE

130. Slide 130: Our Corporate Presentation & Annual Report

     Our Corporate Presentation & Annual Report 2024 | Annual Report

Grupo Financiero Banorte — Q1 2025 Earnings Presentation on 6ix