Slide 1: Record H1 result
Record H1 result Outlook and targets confirmed Analyst conference – Q2/H1 2026 06 August 2026 Commerzbank, Frankfurt All figures in this presentation are subject to rounding 0
Slide 2: At a glance – outlook and targets confirmed
At a glance – outlook and targets confirmed Confirmed Confirmed Confirmed H1 2026 vs Outlook 2026 Targets 2028 Targets 2030 H1 25 Revenues €6,518m +7.0% €13.2bn €15.0bn €16.8bn Risk result -€344m +14.7% ~850m ~25bp1 ~25bp1 Net result €1,810 +39.6% ≥€3.4bn €4.6bn €5.9bn Cost income ratio 53% -2.8pp 5
Slide 3: Bettina Orlopp, CEO
Bettina Orlopp CEO 06 August 2026 Commerzbank, Bettina Orlopp, Frankfurt 2
Slide 4: Record performance in first half of 2026
Record performance in first half of 2026 Total revenues Operating result Net result (€bn) (€bn) (€bn) +7% +14% 6.5 +40% 6.1 2.7 5.4 2.4 1.8 2.0 1.3 1.3 H1 24 H1 25 H1 26 H1 24 H1 25 H1 26 H1 24 H1 251 H1 26 1) €1.7bn excl. restructuring expenses (net of tax) Cost income ratio (CIR) Net RoTE CET1 rat
Slide 5: Next buyback of up to €1.2bn already approved by ECB
Next buyback of up to €1.2bn already approved by ECB Capital return and target capital return 2026e-2030e (€bn) 14% Total yield based on market capitalisation as of 30 June 2026 Dividend 11% ~5.6 Buyback 8% ~4.4 Buyback (applied for) ~3.2 2.7 1.7 1.2 1.0 0.7 0.4 0.4 1.5 1.0 1.2 0.1 0.3 0.6 2026e 202
Slide 6: Outlook 2026 and strategy targets confirmed
Outlook 2026 and strategy targets confirmed German economy Momentum 2030 targets Sentiment in Mittelstand remains 21 19 cautious at improved Ifo index 17 14 Surprisingly good development of new 12 9 10 orders in Q2 82 79 8 5 ECB lending survey signals improving 69 demand by corporates 1 61 59 57 53
Slide 7: Clear management priorities
Clear management priorities 01 01 Execute strategy 02 02 Drive performance 03 03 Protect value Implement Leverage excellent client Open for constructive Momentum 2030 franchise and relationships strategic discussions Consistently deliver Sustain high employee Work in best interest of financial resul
Slide 8: Moving ahead: AI accelerates transformation progress
01 Moving ahead: AI accelerates transformation progress AI Value realisation through Q2 with tangible progress in targeted investments in AI deployment of AI innovations ~€600m AI-driven workplace efficiency Roll-out of Microsoft Copilot and Google Gemini cumulative AI investments 2026-2030 and laun
Slide 9: Corporate Clients is the clear number 1 in Germany
02 Corporate Clients is the clear number 1 in Germany #1 Leading Mittelstandsbank Strong, long-standing close and trustful Dominance in German relationship with our clients Mittelstand In H1 expanded offer for “Mittelstandsbank 1 21 22 32 38 79 Direkt” 1 #1 Best Bank for Corporate Clients Leadership
Slide 10: Securities business boosts PSBC fee income
02 Securities business boosts PSBC fee income Strong growth in portfolio management and securities Discretionary portfolio management (H1 26 eop) ~€25bn +20% YoY Securities volume PSBC Germany (H1 26 eop) ~€285bn +16% YoY +10% 1 YoY H1 NCI growth PSBC Germany comdirect trades (H1 26) ~21m +5% YoY Be
Slide 11: Limited take-up of UniCredit's offer by independent investors
03 Limited take-up of UniCredit’s offer by independent investors Only ~2.7% of institutional and retail investors have Tender result (% of shares outstanding) tendered shares Shareholders excl. UniCredit as of 05 May 2026 Institutional & retail shareholders UniCredit-linked financial institutions La
Slide 12: Structural changes require at least 75% at AGM
03 Structural changes require at least 75% at AGM >50% >75% >90% at AGM at AGM of shares De facto control Qualified control Full control Regular decisions like approval of dividend Possibility to adopt domination agreement Possibility of squeeze out of minority Election of shareholder representative
Slide 13: A joint approach has potential to create value
03 A joint approach has potential to create value Momentum 2030 Aligned joint approach Commerzbank Unlocked Proven strategy with clear Constructive approach Outside-in approach based on commitment to upgraded with jointly developed strategy incomplete information and targets delivering reliable base
Slide 14: Key Take Aways
Key Take Aways We achieved an excellent H1 result and confirm our guidance and targets We continue to focus on the implementation of our Momentum 2030 strategy that is delivering reliable shareholder value with low execution risk We are open to find a solution with UniCredit and will work in the bes
Slide 15: Carsten Schmitt, CFO
Carsten Schmitt CFO 06 August 2026 Commerzbank, Carsten Schmitt, Frankfurt 14
Slide 16: Strong performance in all key metrics
Strong performance in all key metrics Revenues Q2 25 Q1 26 Q2 26 Risk Q2 25 Q1 26 Q2 26 (€m) (€m) -176 -142 3,219 3,299 -202 Revenues 3,019 Risk result Costs 1,674 1,719 1,730 Non-performing exposure 1.1% 1.1% 1.1% (NPE) ratio Cost income ratio 55% 53% 52% CIR incl. compulsories CIR excl. compulsori
Slide 17: Year-on-year 9% revenue growth
Year-on-year 9% revenue growth Revenues (€m) H1 25: 6,092 H2 25: 6,080 H1 26: 6,518 3,141 3,219 3,299 3,072 3,019 2,939 Net interest income (NII) broadly stable YoY with strong growth in PSBC Germany and CC. Offsetting effects from lower rates in Poland and lower contributions in O&C – benefits from
Slide 18: YoY 7% growth of net commission income
YoY 7% growth of net commission income Net commission income (NCI) (€m) CC mBank PSBC Germany O&C H1 25: 2,015 H2 25: 2,014 H1 26: 2,178 1,102 1,076 1,012 1,004 1,029 Corporate Clients (CC) with 6% YoY growth driven by 985 primary bonds business and payment services 377 376 350 355 363 353 Private a
Slide 19: NCI driven by capital markets and securities business
NCI driven by capital markets and securities business Net commission income Corporate Clients (€m) 355 363 377 376 350 353 195 206 201 205 Corporate Clients 199 202 Cash & Trade Capital Markets Cash & Trade holding up very well with strong 133 Lending / other contribution from payment transactions a
Slide 20: Overall stable net interest income
Overall stable net interest income Net interest income (NII) (€m) H1 25: 4,133 H2 25: 4,094 H1 26: 4,106 Corporate Clients (CC) with YoY and QoQ NII growth 2,071 2,062 2,044 2,049 2,047 2,059 reflecting the increased loan volume in our German and international client base. QoQ increase also driven b
Slide 21: Continued loan growth
Continued loan growth Loan volume (Group ex mBank) (Quarterly averages | €bn) CC PSBC Germany 236 240 246 249 229 232 11 13 14 14 Institutionals 10 10 30 31 34 36 39 41 & others 66 68 68 Internat. corp. 63 65 66 In CC loan volume growth of €17bn (16%) YoY and Mittelstand 29 (3) 29 (3) 29 (3) 29 (3)
Slide 22: Diversified drivers of sustained loan growth in CC
Diversified drivers of sustained loan growth in CC Corporate Clients loan volumes Changes since Q2 2025 (Quarterly averages | €bn) (€bn) Corporates Investments and working capital needs +16% 1 in Germany increased in H1 26 vs. H2 25 German Continued increase in capital accretive business at moderate
Slide 23: NII outlook 2026 confirmed at ~€8.6bn
NII outlook 2026 confirmed at ~€8.6bn Expected development of NII (€bn) -0.2 ~8.6 8.2 +0.6 -0.1 +0.2 -0.1 Equity and deposit Ø deposit rate Ø Beta Growth in loan Lower interest replication portfolio 2025: 2.27% 2025: 40% and deposit rates in Poland 2026e: 2.21% 2026e: 41% volumes Volume €179bn Avera
Slide 24: Costs strictly managed in line with 53% CIR target
Costs strictly managed in line with 53% CIR target Costs (€m) Group Group mBank ex mBank Total Group costs broadly stable despite salary increases and higher IT investments 1.6% 3,396 3,449 -0.1% Group ex mBank operating expenses remained flat 162 182 while investing more in IT projects (YoY H1 26 u
Slide 25: Risk result in line with FY outlook
Risk result in line with FY outlook Risk result H1 25: -300 H2 25: -422 H1 26: -344 (€m) Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Q2 risk result of -€202m in line with expectation of ~€850m for -123 FY 2026 -142 -176 Approach regarding overlays for in-model adjustments and -215 -207 -202 collective stagi
Slide 26: Net result reflects strong operating performance
Net result reflects strong operating performance Q2 2026 Operating result (€m) (€m) 3,299 202 1,730 1,169 1,358 1,367 Q2 25 Q1 26 Q2 26 Corporate Clients 494 567 490 1,367 0 388 81 PSBC Germany 257 458 438 898 mBank 300 329 365 Others & Consolidation 118 4 74 Revenues Risk Costs Operating Restruct.
Slide 27: Corporate Clients: YoY stable operating performance
Corporate Clients: YoY stable operating performance Operating result (€m) H1 25: 1,097 H2 25: 1,056 H1 26: 1,057 603 567 494 531 525 490 YoY higher revenues driven by strong loan growth, higher bond issuance and good performance in payment services and guarantees Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26
Slide 28: PSBC Germany: sustained strong performance
PSBC Germany: sustained strong performance Operating result (€m) H1 25: 686 H2 25: 588 H1 26: 896 429 458 438 275 313 257 Best ever Q2 with very strong underlying business momentum. Excluding -€16m effect from early mortgage repayments in Q2 (offset in O&C), revenues even surpassed the exceptional Q
Slide 29: mBank: record operating result
mBank: record operating result Operating result (€m) H1 25: 503 H2 25: 547 H1 26: 694 329 365 300 294 252 204 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Q2 operating result up 22% YoY supported by significantly excluding provisions for legal risks of FX loans: reduced FX legal risk provisions 362 428 401 3
Slide 30: Others & Consolidation with positive contribution
Others & Consolidation with positive contribution Operating result (€m) H1 25: 109 H2 25: -77 H1 26: 78 118 74 4 -9 -24 -53 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 YoY lower revenues mainly due to lower interest income in line with lower ECB rates not fully compensated by improved fair P&L O&C value res
Slide 31: CET1 ratio of 14.4% provides large 409bp buffer to MDA
CET1 ratio of 14.4% provides large 409bp buffer to MDA RWA development by risk types Transition of CET1 ratio (€bn | eop) (%) 176 180 182 174 175 176 9 9 14.6 0.5 -0.5 8 9 8 8 14.5 26 26 0.1 -0.2 14.4 25 25 25 26 81 81 79 79 81 80 CC 25 25 26 26 26 26 PSBC GER 22 24 24 24 mBank 26 27 10.3 14 14 14 1
Slide 32: Outlook 2026 confirmed
Outlook 2026 confirmed Revenues of ~€13.2bn based on NII of ~€8.6bn and NCI growth of ~7% to €4.3bn and net fair value/other income of ~€0.3bn Risk result ~€850m Cost of ~€7.0bn leading to a CIR including compulsory contributions of ~53% Net result1 ≥€3.4bn and 100% total payout CET1 ratio >14% afte
Slide 33: Appendix
Appendix Overview Commerzbank Group 33 Corporate responsibility P&L tables Corporate Clients 34 Sustainable loan ratio 51 Commerzbank Group 67 Private and Small-Business Customers 35 Green Infrastructure Finance portfolio 52 Corporate Clients 68 mBank 36 ESG ratings 53 Private and Small-Business Cus
Slide 34: Overview Commerzbank Group
Overview Commerzbank Group Corporate Clients PSBC Germany Leading universal bank with nation-wide branch No. 1 bank for German Mittelstand network and 24/7 multi-channel-offer A leading bank for German trade First-class advice for Private and Small- finance Business Customers Global presence in more
Slide 35: Corporate Clients
Corporate Clients Institutionals Mittelstand International Corporates Institutionals ● Small and medium-sized enterprises ● International large corporates with ● Financial institutions (FIs) in developed (German Mittelstand, over €15m turnover) connectivity to DACH and selected future- and emerging
Slide 36: Private and Small-Business Customers Germany
Private and Small-Business Customers Germany Self-directed Private Customers Wealth Management Small-Business Private Customers Retail Customers | Individual Customers Customers comdirect Customers | Private Banking ● Self-directed customers with ● Customers with mostly ● Customers with high need fo
Slide 37: mBank | Part of segment Private and Small-Business Customers
mBank | Part of segment Private and Small-Business Customers Private Customers Corporate Clients ● Serving private customers across Poland, Czech Republic ● Strong customer base of SME and large corporates and Slovakia with state-of-the-art digital banking solutions ● Continuous CAGR of +6% in numbe
Slide 38: Capital Return Policy
Capital Return Policy Capital return CET1 ratio Commerzbank is committed to consistently return capital to A prerequisite for a dividend is a CET1 ratio of at least MDA shareholders, targeting a regular distribution significantly +250bp after distribution above 50%, but not exceeding the IFRS net pr
Slide 39: Commerzbank financials at a glance
Commerzbank financials at a glance Group Q1 2025 Q2 2025 Q1 2026 Q2 2026 H1 2025 H1 2026 Total revenues €m 3,072 3,019 3,219 3,299 6,092 6,518 Risk result €m -123 -176 -142 -202 -300 -344 Personnel expenses €m 954 944 938 1,008 1,898 1,946 Administrative expenses (excl. depreciation) €m 428 429 442
Slide 40: Replication portfolio will continue to deliver
Replication portfolio will continue to deliver Additional NII from roll-over of replication portfolio (€bn | based on constant model volumes and forward rates as of 9 July 2026) Average portfolio yield (%) Increase to previous year Low yield of replication portfolios resulted from negative rates env
Slide 41: Key figures Commerzbank share
Key figures Commerzbank share Figures per share YE 2023 YE 2024 YE 2025 H1 2026 (€) Number of shares2 (m) 1,240.22 1,153.59 1,096.5 1,080.8 4.01 Market capitalisation2 (€bn) 13.3 18.1 39.6 40.2 3.23 2.75 2.51 Book value per share2,4 (€) 23.17 25.90 27.50 27.89 2.06 2.06 1.63 Tangible book value per
Slide 42: Shareholder & tender structure
Shareholder & tender structure Key Observation Pre-tender shareholder structure (as of 4 May) German TS* Retail Active investors Passives T&B* UniCredit During the tendering process lending government ▪ ~4% ~13% ~17% ~18% ~18% ~3% ~27% volume increased substantially ▪ UCG-linked banks and brokers ac
Slide 43: German economy slowed by the Middle East war
German economy slowed by the Middle East war ifo business climate index 3m-Euribor GDP1 Inflation1 (index, 2015=100) (avg. p.a. | %) (change vs. previous year | %) (%) 3.60 3.4 8.4 100.8 3.40 98.4 6.9 94.9 2.30 2.30 5.9 5.4 92.7 93.2 2.10 1.4 1.5 89.4 1.0 1.0 1.0 88.9 88.5 0.7 0.6 86.6 0.4 0.2 3.0 2
Slide 44: Russia exposure
Russia exposure 2022 2023 2024 2025 2026 Net exposure (€m) 18 Feb 31 Dec 31 Dec 31 Dec 31 Dec 31 Mar 30 Jun Total net exposure remained below €50m Group exposure net of ECA and cash held at Corporates 621 261 148 34 12 12 11 Commerzbank is unchanged at €43m – thereof at CB Eurasija 392 61 21 0 0 0 0
Slide 45: Increase of risk provisions in line with higher stage 3
Increase of risk provisions in line with higher stage 3 Exposure1 Risk provisions (€bn) (€m) 3,745 3,745 3,679 3,612 3,716 531.8 541.3 541.9 527.7 527.1 6.5 7.1 7.4 Stage 3 6.6 6.8 64.6 69.1 Stage 2 66.8 64.7 63.5 2,463 2,504 2,468 2,428 2,504 Stage 1 460.6 456.8 469.6 465.4 970 924 896 858 852 454.
Slide 46: Overlays for risk provisioning
Overlays for risk provisioning Outstanding overlays as of Q2 2026 (€m) Outstanding risk provision of €3.7bn includes €153m overlay covering risks arising from uncertainties in the macroeconomic environment as well as novel risks like climate and environmental risks Overlays in risk provisioning can
Slide 47: Group's corporates portfolio well diversified
Group’s corporates portfolio well diversified Overall performing portfolio (stage 1 and 2) Corporates portfolio of ~€145bn stands for 24% of overall Group exposure. Corporates performing portfolio by sector Q2 26 Portfolio size as well as expected loss further increased since last quarter The portfo
Slide 48: Non-Bank Financial Institutions portfolio (NBFI)
Non-Bank Financial Institutions portfolio (NBFI) Development of NBFI portfolio (€bn | EaD) Portfolio Investment grade share (in %)1 Portfolio 94% 94% 94% 93% 93% Portfolio amounts to €60.5bn of which €0.2bn is non-performing exposure (0.3% of amounts Portfolio total portfolio). Increase to €60.5bn m
Slide 49: Commercial Real Estate (asset-based)
Commercial Real Estate (asset-based) Portfolio development Location 06/261 (€bn | EaD) (€bn | EaD) Portfolio Investment grade share (in %) ▪ Portfolio amounts to €9.8bn of which €0.2bn is non- 78% 79% 81% 80% 79% 5.8 performing exposure (2.4% of total portfolio) 9.9 9.7 9.6 9.8 9.8 ▪ Sound rating pr
Slide 50: German residential mortgage business & property prices
German residential mortgage business & property prices Residential properties Overall mortgage portfolio (index values) New business volume remained stable at Mortgage volume and risk quality stable in Q2 26 €2.0bn in Q2 26 compared with the previous 110 quarter 100 102.0 102.9 100.5 100.2 99.9 98.8
Slide 51: mBank: Effective de-risking of CHF loan portfolio continues
mBank1: Effective de-risking of CHF loan portfolio continues Settlements concluded by mBank CHF loan contracts in court New CHF related court cases with CHF borrowers, cumulative number of pending cases number of contracts entering court proceedings repaid contracts repaid contracts active contracts
Slide 52: Sustainable finance is well on track
Sustainable finance is well on track Strategic goal: more than 10% sustainable new loan business Sustainable bonds Sustainable loan ratio 20.1% 20.1% 16.6% 17.0% 17.6% 15.6% Share of sustainable new loan 20.1% business last 12 months1 (Jul 2025 – Jun 2026) €26.8bn In Q2 2026, we lead-managed Q1 Q2 Q
Slide 53: Development of Green Infrastructure Finance portfolio
Development of Green Infrastructure Finance portfolio (€bn | eop) +142.3% CoC GIF1 hubs our markets 15.5 14.4 11.5 10.9 11.6 8.8 1.3 1.3 5.1 Project financing commitments by region 6.4 1.0 15.5 0.5 14.4 11.5 9.6 10.4 1.3% Europe 7.8 4.6 6.4 Americas Hamburg 2020 2024 2025 Q2 26 34.9% APAC Total fina
Slide 54: ESG ratings prove that we are on the right track
ESG ratings prove that we are on the right track CCC B BB BBB A AA AAA Severe High Medium Low Negligible D- D D+ C- C C+ B- B B+ A- A A+ 10 9 8 7 6 5 4 3 2 1 Disclosure Awareness Management Leadership (D-/D) (C-/C) (B-/B) (A-/A) ESG Rating ESG Risk Rating ESG Corporate Rating ESG QualityScores Corpo
Slide 55: Commerzbank AG has 8 green bonds outstanding
Commerzbank AG has 8 green bonds outstanding with a total volume of €4.39bn Green Funding Framework (2024)1 Green Asset Allocation Green Funding Framework (2024)2 (€m) Commerzbank’s Green Funding Framework (2024) 3,430 is an update of the Green Bond Framework (2018). 12NC7 Tier 2 / Jun 2025 It conta
Slide 56: Comfortable liquidity position
Comfortable liquidity position LCR Net stable funding ratio (NSFR) (% | quarterly averages of month-end values) 124.0% 121.3% 123.3% 122.2% 119.3% Total available stable funding | €bn 148.1 141.7 140.5 140.5 141.2 300 Total required stable funding | €bn 200 100 0 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2
Slide 57: Capital markets: €10.3bn funding executed in H1 2026
Capital markets: €10.3bn funding executed in H1 2026 Group funding structure1 Group issuance activities H1 2026 and highlights (€bn | nominal values) 10.3 Subordinated Pfandbriefe Dual-tranche Pfandbriefe in January and April: debt €2.25bn mortgage Pfandbrief with 6.75 and 10 years maturities €2bn p
Slide 58: Large part of funding plan completed in H1, issuance to continue
Large part of funding plan completed in H1, issuance to continue Group funding activities1 Group maturities until 20312 Covered bonds (€bn) (€bn) Senior unsecured 13.5 13.0 Subordinated debt ~12 Covered 8.4 8.8 10.1 10.3 Prefered senior 7.7 7.2 8.2 Non-preferred senior 6.6 Subordinated Additional Ti
Slide 59: Mortgage Pfandbrief cover pool
Mortgage Pfandbrief cover pool Overview by property type Cover pool details1 Highlights 10% 2% Single family ▪ German mortgages only Flats ▪ Total assets: €45.3bn ▪ 98% German residential €44.0bn Multiple family o/w cover loans (mortgages): €44.0bn mortgages, only 2% commercial 29% 59% Others o/w fu
Slide 60: Public Sector Pfandbrief cover pool
Public Sector Pfandbrief cover pool Borrower / guarantor & country breakdown 1% 1% 2% Germany Cover pool details1 Highlights 3% 5% 3% Poland ▪ Commerzbank public sector Switzerland ▪ Total assets: €25.6bn Pfandbrief to support its German €25.6bn Austria o/w municipal loans : €17.5bn municipal lendin
Slide 61: Comfortable fulfilment of RWA and LRE MREL requirements
Comfortable fulfilment of RWA and LRE MREL requirements Update with 06/2026 figures expected by mid August 2026 MREL Requirements and M-MDA Based on data as of 31 March 2026, Commerzbank fulfils its current MREL RWA requirement for resolution group A1 of 27.8% RWA with an MREL ratio of 34.1% RWA and
Slide 62: Commerzbank's MDA
Commerzbank’s MDA Distance to MDA (%) 409bp 14.38 10.29 409bp distance to MDA based on a lower Q2 2026 CET1 ratio of sSyRB 0.06 0.77 14.38% CCyB 1.25 MDA remained unchanged to Q1 2026 O-SII AT1 layer will continue to be managed to maintain appropriate 2.50 CCB distance to MDA 1.21 P2R Tier 2 layer w
Slide 63: Rating overview Commerzbank
Rating overview Commerzbank As of 06 August 2026 Last rating events Bank ratings S&P Moody’s Counterparty rating/assessment1 A+ Aa3/ Aa3 (cr) S&P revised Commerzbank’s outlook to stable from positive while affirming its ratings in July 2026. S&P Deposit rating2 A stable Aa3 stable considers the clos
Slide 64: Loan and deposit development
Loan and deposit development (€bn | quarterly average) Corporate Clients 120 123 101 103 In CC loan volume growth in all customer segments, deposit Q1 26 Q2 26 volumes increased in both, term/call and particularly in sight deposits In PSBC Germany loan volume stable, deposit volumes declined driven
Slide 65: IAS 19: Development of pension obligations
IAS 19: Development of pension obligations Cumulated actuarial gains and losses (€m) In H1 26 market swap rates went slightly down, driving the IAS19 discount rate to 4.5% versus 4.6% at year-start. Thus, the present-valued pension obligations (DBO) went up, producing a moderate YtD liability 4.3 4.
Slide 66: FX impact on CET1 ratio
FX impact on CET1 ratio QoQ change in FX capital position 147.3 273 6.5 4.8 Nearly no impact on CET1 ratio1 since slightly higher FX driven 83 38 credit risk RWA is being offset by slightly higher currency 21.0 35 translation reserve Other 19 GBP 6 Higher credit risk RWA from FX effects mainly due t
Slide 67: Group equity composition
Group equity composition Q1 2026 Q2 2026 Q2 2026 H1 2026 Capital | €bn EoP EoP Average Average P&L | €m Q2 2026 H1 2026 Ratios Q2 2026 H1 2026 Equity2 35.6 35.4 Equity attributable to Commerzbank shareholders 30.5 30.3 Subscribed capital 1.08 1.08 Capital reserve 10.20 10.20 Retained earnings 19.74
Slide 68: Commerzbank Group
Commerzbank Group Q1 Q2 H1 Q3 Q4 FY Q1 Q2 H1 €m 2025 2025 2025 2025 2025 2025 2026 2026 2026 Total underlying revenues 3.124 3.087 6.211 2.940 3.132 12.283 3.200 3.307 6.508 Exceptional items -52 -67 -119 -2 9 -112 19 -8 10 Total revenues 3.072 3.019 6.092 2.939 3.141 12.171 3.219 3.299 6.518 o/w Ne
Slide 69: Corporate Clients
Corporate Clients Q1 Q2 H1 Q3 Q4 FY Q1 Q2 H1 €m 2025 2025 2025 2025 2025 2025 2026 2026 2026 Total underlying revenues 1,240 1,175 2,414 1,204 1,263 4,882 1,248 1,244 2,492 Exceptional items -6 -6 -11 -1 -3 -15 4 -12 -8 Total revenues 1,234 1,169 2,403 1,203 1,261 4,866 1,253 1,232 2,484 o/w Net int
Slide 70: Private and Small-Business Customers
Private and Small-Business Customers Q1 Q2 H1 Q3 Q4 FY Q1 Q2 H1 €m 2025 2025 2025 2025 2025 2025 2026 2026 2026 Total underlying revenues 1,707 1,710 3,418 1,709 1,793 6,919 1,944 1,933 3,877 Exceptional items 1 - 0 - 0 - 0 14 15 1 -1 - 0 Total revenues 1,708 1,710 3,418 1,709 1,806 6,934 1,945 1,93
Slide 71: PSBC Germany
PSBC Germany | Part of segment Private and Small-Business Customers Q1 Q2 H1 Q3 Q4 FY Q1 Q2 H1 €m 2025 2025 2025 2025 2025 2025 2026 2026 2026 Total underlying revenues 1,173 1,125 2,298 1,102 1,190 4,590 1,264 1,260 2,524 Exceptional items - 0 - 0 - 0 - 0 14 14 - 0 - 0 - 0 Total revenues 1,173 1,12
Slide 72: mBank
mBank | Part of segment Private and Small-Business Customers Q1 Q2 H1 Q3 Q4 FY Q1 Q2 H1 €m 2025 2025 2025 2025 2025 2025 2026 2026 2026 Total underlying revenues 535 585 1,120 606 602 2,329 681 673 1,354 Exceptional items 1 - 0 - 0 - 0 -1 - 0 1 -1 - 0 Total revenues 536 585 1,120 607 602 2,329 682 6
Slide 73: Others & Consolidation
Others & Consolidation Q1 Q2 H1 Q3 Q4 FY Q1 Q2 H1 €m 2025 2025 2025 2025 2025 2025 2026 2026 2026 Total underlying revenues 177 202 378 28 76 482 8 130 138 Exceptional items -46 -62 -108 -1 -1 -111 13 5 18 Total revenues 130 140 270 27 74 371 21 135 156 o/w Net interest income 273 267 539 250 225 1,
Slide 74: Exceptional Revenue Items Commerzbank Group
Exceptional Revenue Items Commerzbank Group Q1 Q2 H1 Q3 Q4 FY Q1 Q2 H1 €m 2025 2025 2025 2025 2025 2025 2026 2026 2026 Exceptional Revenue Items -52 -67 -119 -2 9 -112 19 -8 10 Net fair value result -52 -67 -119 -2 -5 -126 19 -8 10 o/w Hedging & valuation adjustments¹ -52 -67 -119 -2 -5 -126 19 -8 1
Slide 75: Balance sheet
Balance sheet 30 June 2026 (31 March 2026) (€bn) 619 (603) 619 (603) Cash reserve / sight deposits 59 (65) (Banks & Central Banks) Deposits 353 (351) Loans and 301 (298) advances FA Amortised cost 490 (480) FL Amortised Cost 349 (343) Debt Securities 37 (35) MM 47 (42) Repos, Other 11 (11) FA Fair V
Slide 76: Glossary – Key ratios
Glossary – Key ratios Key Ratio Abbreviation Calculated for Numerator Denominator Private and Small Business Group Others & Consolidation Customers and Corporate Clients Cost/income ratio CIR (excl. compulsory Group as well as segments Operating expenses Total revenues Total revenues n/a (excl. comp
Slide 77: For more information, please contact our IR team
For more information, please contact our IR team Investors and Financial Analysts Rating Agencies Christoph Wortig Ansgar Herkert Head of Investor Relations Head of IR Communications Jutta Madjlessi Matthias Obst Ute Sandner Patricia Novak +49 69 9353 47710 +49 69 9353 47706 +49 69 9353 47707
Slide 78: Disclaimer
Disclaimer This presentation contains forward-looking statements. Forward- In addition, this presentation contains financial and other information looking statements are statements that are not historical facts; they which has been derived from publicly available information disclosed include, inter