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

Grupo Financiero Banorte Sab De Cv Class O — Q1 2026 Earnings Presentation

28 slides from Grupo Financiero Banorte Sab De Cv Class O's earnings presentation, April 2026

  1. Slide 1: Banorte

    ae BANORTE

  2. Slide 2: History and Business Highlights, Results, Deposits & Loans

    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 2025 2024 Digital Strategy 2020-2023 •Sale of bineo 4,5,6 Plan •J.V. Rappi 100% 2012-2019 •Making the 15.2%* 1,2,3 Plan Ordinary Extraordinary 2000-2011 •2020 - J.V. Rappi 20|20 Plan • Best experience 1992 - 1999 •2012 - Afore XXI IMSS

  4. Slide 4: Nation Wide Operation

     Nation Wide Operation 1Q26 1,223 Branches 12,265 ATM 258,469 POS 45,473 Correspondents

  5. Slide 5: A Leading Bank in Mexico

     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 ▪ 13.2 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 23% Others 23% BBVA 26% 26% 2nd Inbursa 2nd Inbursa 6% 4% Banorte HSBC 14% 6% Banorte Scotiabank 15% 6% Scotiabank HSBC Banamex 6% 6% Santander 9% Banamex Santander 12% 6% 12% Source: CNBV February 2026

  8. Slide 8: Market Share by Segment

     Market Share by Segment Auto Payroll C. Card Mortgage Commercial Government Deposits Feb-25 Feb-26 Feb-25 Feb-26 Feb-25 Feb-26 Feb-25 Feb-26 Feb-25 Feb-26 Feb-25 Feb-26 Feb-25 Feb-26 Banorte 18.1% 20.1% 21.0% 21.4% 11.2% 11.7% 19.6% 19.9% 12.7% 12.3% 27.5% 28.3% 13.9% 14.0% BBVA 22.7% 22.2% 39.7%

  9. Slide 9: Digital Transformation Gaining Share

     Digital Transformation Gaining Share Transactions (Tx) Transactions (millions) 2,000 1,736 1,800 1,622 1Q26 Branches 1.3% WEB 1,600 1,302 POS 1,400 Correspondents 0.2% 8% 1,200 Call Center 0.5% 15% 1,000 Mobile 800 25% y/y ATM 8% 600 400 200 - 67% 2Q 1Q 4Q 3Q 2Q 1Q 4Q 1Q 2022 2025 2026 Customers U

  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) POS Transactions Credit Cards (23%) Rappi JV y/y 15-year commercial agreement 500 Digital Physical 400 DIGITAL PLATFORM for aggregators 192 137 300 106 200 272 281 100 250 0 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q2

  11. Slide 11: Results

    GRUPO FINANCIERO BANORTE

  12. Slide 12: Bank Net Interest Margin

     Bank Net Interest Margin NIM 7.0% 6.8% 6.6% 6.5% 6.5% 6.6% 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 2025 1Q25 2Q25 3Q25 4Q25 1Q26 Previous criteria IFRS NIM (Post-Provision) 6.0%

  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% 47.0% 45.0% 45.0% 41.4% 42.3% 42.0% 45.3% 40.1% 37.3% 37.3% 36.7% 37.0% 40.4% 38.1% 38.8% 32.0% 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1Q25 2Q25 3Q25 4Q25 1Q26 Revenues &

  14. Slide 14: Strong Net Income

     Strong Net Income Net Income Million Pesos 5% YoY 6% YoY 50,000 47,320 44,854 CAGR 13,000 12,677 45,000 41,946 2015-2025 +13% 11,912 40,000 12,000 34,549 11,227 35,000 11,000 30,000 27,493 26,086 10,000 24,834 25,548 26,086 * w/o advanced 25,000 26,289 provisions 9,000 18,339 23,158 * Recurring 20

  15. Slide 15: Constant Positive growth in Profitability

     Constant Positive growth in Profitability ROA 3.0% 2.7% 2.5% 2.5% 2.4% 2.4% 2.4% 2.5% 2.3% 2.1% 2.5% 2.02% 2.0% 1.8% 2.2% 1.6% 1.6% 1.4% 1.5% 1.5% 1.7% 1.6% 1.0% 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1Q25 2Q25 3Q25 4Q25 1Q26 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 $1,264 bn 2020 1Q26 Funding $855 bn US 70.2 bn Interbank Money Interbank Money Loans Loans Market Market 4% 0% Time Time 31% Demand Demand 65% Loan Portfolio $1,223 bn $783 bn US 67.9 bn Consumer Consumer Government Government 20% 13% Mortga

  18. Slide 18: Loyal Deposits' Base

     Loyal Deposits’ Base Deposits CAGR 2015-2025 YoY Billion +9% 1,300 1,187 1,187 1,192 Pesos 1,123 Core Deposits* Time Demand 1,059 6% 1,100 962 840 834 834 827 900 751 750 750 796 744 4% 637 667 689 700 551 590 623 509 533 538 538 436 414 438 500 384 397 353 353 365 351 384 316 328 300 273 11% 300

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

     Continued Growth in Performing Loan Book, Special Focus on Consumer US 67.9 bn US 30.1 bn Total Loan Portfolio Consumer Portfolio 1,300 1,237 1,237 1,223 1,171 600 532 542 1,200 1,151 518 532 550 477 1,100 500 1,000 897 450 5% YoY 371 11% YoY 900 400 803 803 322 323 756 783 350 304 800 744 286 267

  20. Slide 20: Sound Asset Quality

     Sound Asset Quality Non-Performing Loan Ratio 3.07% 3.00% 2.91% Previous Criteria IFRS 2.50% 2.23% 2.00% 1.67% 1.64% 1.38% 1.38% 1.42% 1.50% 1.08% 0.97% 0.98% 0.90% 1.00% 1.01% 0.91% 0.89% 0.50% 2013 2014 2015 2018 2019 2020 2021 2022 2023 2024 2025 1Q25 2Q25 3Q25 4Q25 1Q26 1Q25 2Q25 3Q25 4Q25 1Q2

  21. Slide 21: Sound Asset Quality

     Sound Asset Quality Coverage Ratio 250% 227% 217% 186% 190% 200% 186% 139% 142% 201% 134% 140% 150% 128% 138% 134% 115% 100% Previous Criteria 50% 0% 2015 2016 2017 2018 2019 2020 2021 2022 2024 2025 1Q25 2Q25 3Q25 4Q25 1Q26 Cost of Risk 3.0% 2.8% 2.2% 2.3% 2.0% 2.5% 2.0% 1.8% 1.4% 2.2% 1.5% 1.8%

  22. Slide 22: Healthy Liquidity

     Healthy Liquidity Loans to Deposits 110% 105% 102% 101% 101% 100% 98% 95% 90% 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 2020 2021 2022 2023 2024 2025 2026 Liquidity Coverage Ratio - LCR 230% 210% 178% 183% 190% 162% 163% 170% 150% 130% 110% 90% 70% 2Q 3Q 4

  23. Slide 23: Strong Capital Position

     Strong Capital Position Capital Adequacy Ratio Basel III 24.7% 22.8% 22.9% 22.3% 21.8% 21.7% 20.7% 20.2% 20.1% 20.1% 19.7% Full 18.5% 0.4% Tier 2 TLAC 17.3% 17.2% 15.3% 15.3% 18.08% 14.6% 6.6% Total +6.68% Tier 1 TLAC 19.3% 1Q26 11.40% 9.40% 15.3% 15.1% 14.7% 14.4% 14.0% 14.8% 7.90% 13.9% 13.2% 12

  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 Mar 31, 2026) Agency Rating Outlook Date Net Income 2026 $62,387 Target Price $219.67 Standard & Poor’s BBB Stable Aug-25 Maximum $248.00 Number of Analysts 21 Fitch BBB- Positive Nov-25 #

  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 1Q25 4Q25 1Q26 3M25 3M26 (Million Pesos) 4Q25 1Q25 3M25 Net Interest Income 28,229 30,593 30,812 1% 9% 28,229 30,812 9% Non-Interest Income 4,968 6,2

  27. Slide 27: Quarterly Summary

     Quarterly Summary Financial Ratios - Banorte 1Q25 4Q25 1Q26 Profitability: NIM (1) 6.4% 6.8% 6.6% NIM after Provisions (2) 5.3% 5.8% 5.2% ROE (3) 28.0% 31.5% 30.1% ROA (4) 2.4% 2.7% 2.4% Operation: Efficiency Ratio (Cost to Income) (5) 37.3% 40.1% 36.7% Operating Efficiency Ratio (Cost to Assets)

  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.

Grupo Financiero Banorte — Q1 2026 Earnings Presentation on 6ix