Slide 1: Earnings presentation 2Q25
Earnings presentation 2Q25 July 29th 2025
Slide 2: Index
1 Index Key highlights 2 2Q25 Results: • Business activity • Financial results • Asset quality • Solvency & liquidity 3 Final remarks 4 Appendix 2
Slide 3: Key highlights
Key highlights Business activity Profitability Asset quality Solvency and liquidity Improved profitability in Accelerated dynamism We continue to reduce Interim dividend 1H25 with gross margin with customer volumes NPAs with the net NPA approved, 10% higher growing by 5% and +4% in the year ratio at
Slide 4: Strategic Plan 2027
Strategic Plan 2027 Progress in the execution of the plan is beginning to be reflected in the best commercial dynamics Customer experience and branding Retail banking transformation Agreements and investments: We have reached agreements Talent acquisition: >150 employees in key with best in class co
Slide 5: Shareholder remuneration
Shareholder remuneration The positive evolution of profitability allows for an interim dividend to be paid 10% higher than in the previous year Net profit(€m) +15% vs 1H24 Interim dividend(1) (€m) 338 +128% vs 1H23 294 169 154 148 +10% 1H23 1H24 1H25 1H24 1H25 Earnings per share (€) 0.131 +18% vs 1H
Slide 6: Index
Index 1 Key highlights 2 2Q25 results: • Commercial activity • Financial results • Asset quality • Solvency and liquidity 3 Final remarks 4 Appendix 6
Slide 7: Customer funds
Customer funds Customer deposits increased by 3.2% and off-balance sheet funds by 13.0% year-on-year Total customer funds Customer funds on balance € million Breakdown Million Euros 2Q24 1Q25 2Q25 QoQ YoY Customer funds on balance (excl. Repos) 68,177 68,987 70,383 2.1% 3.2% 8% Public institutions 4
Slide 8: Wealth Management & Insurance
Wealth Management & Insurance Substantial improvement in both assets under management and recurring revenue Assets under management and insurance Assets under management (€bn) revenues(1)(€m) 24.2 +13% 21.0 21.4 YoY +12% Vs. 2023 Other 9.0 9.6 9.3 193 172 180 Mutual 15.2 Funds 11.4 12.2 +25% YoY 2Q2
Slide 9: Lending
Lending The performance of the portfolio continues to improve with +1.9% in the quarter excluding seasonal impact due to double pension payments Performing loan book Performing loan book € million Breakdown Million Euros 2Q24 1Q25 2Q25 QoQ YoY QoQ (excl. advances1) 8% 11% Public sector 4,957 4,590 5
Slide 10: New lending
New lending Private sector loans +38% YoY, with strong growth in all portfolios Total private sector lending (€m) Business & SE lending (€m) +46% 2,370 +38% YoY 2,250 4,621 1,356 1,378 YoY 2,735 1,789 3,356 961 1,874 2Q24 1Q25 2Q25 1H24 1H25 2Q24 1Q25 2Q25 1H24 1H25 Mortgages (€m) Consumer lending (
Slide 11: ESG
ESG Reinforcing our commitment to sustainability 5th Green Bond issuance: Senior Non Preferred 500M€ 6NC5 Quality and well-diversified allocation of funds • Record demand and oversubscription 8x 87% 55% • €2.1 billion of green bonds issued, €1.6 billion outstanding outside ESG Iberia Investors • Eli
Slide 12: Index
Index 1 Key highlights 2 2Q25 results: • Commercial activity • Financial results • Asset quality • Solvency and liquidity 3 Final remarks 4 Appendix 12
Slide 13: Income statement
Income statement Higher revenues and lower provisions mitigate costs increase and boost net profit by 14.6% over 2024 QoQ YoY YoY Million euros 2Q24 1Q25 2Q25 1H24 1H25 (%) (%) (%) Net Interest Income 383 369 374 1.5% -2.5% 774 743 -4.0% Main variations Dividends 8 1 12 na 37.1% 9 12 38.2% Associate
Slide 14: Net interest income
Net interest income Net interest margin increases 1bp in the quarter supported by the balance sheet structure Average quarterly yields and costs(1) (%) Quarterly evolution NIM (2) +1bps 3.55% 3.48% 3.33% 3.13% 2.83% 2.75% 2.91% 2.61% Loan 2.49% 2.40% -22bps 1.77% 1.83% 1.81% 1.70% 1.71% yield 0.72%
Slide 15: Net interest income evolution
Net interest income evolution Slightly higher in the quarter, lower wholesale and retail financing costs offset lower loan yields Net interest income quarterly evolution (€m) Deposits: lower cost of deposits following the latest reductions in reference rates 20 Lending: Slightly higher average balan
Slide 16: Fee income
Fee income Fees evolve towards a mix of greater added value services for the client Net fees (€m) Fee income breakdown (%) QoQ YoY YoY Million Euros 2Q24 1Q25 2Q25 1H24 1H25 8% 7% (%) (%) (%) Payments and accounts 65 63 61 -4.1% -7.1% 135 124 -8.2% 19% 21% 44% 49% Non-Banking fees 61 68 69 0.6% 13.1
Slide 17: Other income
Other income Year-on-year improvement in all lines, with a strong quarter in dividend and associates Breakdown of other income (€m) QoQ YoY YoY Million Euros 2Q24 1Q25 2Q25 1H24 1H25 (%) (%) (%) Dividend income 8 1 12 1915.4% 37.1% 9 12 38.2% Associates 34 22 39 76.1% 14.0% 59 61 3.2% Trading income
Slide 18: Operating expenses
Operating expenses Efficiency ratio remains stable in the year despite costs increase Operating expenses quarterly (€m) Cost to income 1H25(1) (%) 224 235 237 +5.2% 45% 45% 22 23 YoY 22 71 70 67 135 142 144 2Q24 1Q25 2Q25 1H24 1H25 Personnel expenses Administrative expenses D&A (1) Cost to income ra
Slide 19: Cost of Risk and other provisions
Cost of Risk and other provisions Cost of risk in line with 1Q25 and total provisions decreased by 12% year-on-year Loan loss provisions and credit cost of risk(1) (€m) Total provisions evolution(€m) 32 32 29 27 179 24 41 126 111 4 1 76 59 64 62 63 46 2Q24 3Q24 4Q24 1Q25 2Q25 1H23 1H24 1H25 Other pr
Slide 20: Profitability
Profitability Significant improvement in profitability, allowing to exceed adjusted ROTE target levels Return on tangible equity (adjusted) Net profit and ROCET @12.5%(1)(€m) (ROTE)(2,3)(%) 900 22% 12% 800 17% 17% 8% 700 600 12% 12% 500 400 6% 294 338 5% 10% 7% 300 200 148 7% 4% 2% 100 0 -3% 1H23 1H
Slide 21: Index
Index 1 Key highlights 2 2Q25 results: • Commercial activity • Financial results • Asset quality • Solvency and liquidity 3 Final remarks 4 Appendix 21
Slide 22: Non-performing loans
Non-performing loans Non-performing loans fall by 23% in the last year with coverage improving to 73% Non-performing loans (€m) Non-performing loans breakdown(%) -23% YoY 1,417 1,348 1,292 1,230 -11% QoQ 1,092 5% 35% 2Q24 3Q24 4Q24 1Q25 2Q25 56% 3% 2.9% 2.8% 2.7% 2.6% 2.2% NPL ratio Corporate Loans
Slide 23: Non-performing assets
Non-performing assets NPAs declined 26% over the trailing 12 months and foreclosed assets declined 29% Foreclosed assets evolution(€m) Gross non-performing assets (%) 33% annualized exits in 70% 73% 74% Coverage (%) 1H25 11 2,502 2,073 1,857 151 1,417 NPLs 905 1,230 1,092 765 Foreclosed assets 1,085
Slide 24: Index
Index 1 Key highlights 2 2Q25 results: • Commercial activity • Financial results • Asset quality • Solvency and liquidity 3 Final remarks 4 Appendix 24
Slide 25: Solvency (I/II)
Solvency (I/II) Fully-loaded CET1 capital improved by 45bps in the quarter to 15.8% Quarterly evolution of the CET1 ratio (1),(2)(%) 0.62% 0.04% 0.04% 0.14% The main positives of the quarter: 0.39% • Organic generation • Valuation adjustments • NPAs +23bps 15.8% 16.0% 15.4% The main negative effects
Slide 26: Solvency (II/II)
Solvency (II/II) Comfortable capital position with ample buffers on regulatory requirements Capital Structure – MREL(1) Capital Levels vs. Regulatory Requirements 29.6% SREP Requirement 12.65% 27.0% (Total) 5.1% 4.0% MREL 24.5% 4.5% Requirement(2) 2.8% 3.1% 2.1% Regulatory CET 1 1.9% 16.0% 1.9% 24,5
Slide 27: Liquidity
Liquidity Best in class in liquidity position Liquid assets (€m) Main liquidity ratios 43,818 Loan to 12,881 70% deposit 30,936 NSFR 156% LCR 318% Net Liquid Assets Additional capacity to issue Total liquidity 27
Slide 28: Fixed income portfolio
Fixed income portfolio Stable size and duration in the portfolio, after reinvesting excess liquidity in 1Q25, with stable yield in the last year despite the rates reduction Fixed Income portfolio evolution (€bn) Fixed income portfolio breakdown (%) 82% Amortized cost 30 30 27 10% 10% 2Q24 1Q25 2Q25
Slide 29: Index
Index 1 Key highlights 2 2Q25 results: • Commercial activity • Financial results • Asset quality • Solvency and liquidity 3 Final remarks 4 Appendix 29
Slide 30: 2025 Guidance
2025 Guidance After the positive evolution of the 1H25 we improve guidance for some metrics 2025 2025 Initial Guidance Updated Guidance Net interest income >€1,400M >€1,450M Fees Flat +LSD Costs c.+5% c.+5% Cost of risk ~30bps ~30bps Other provisions <€100m <€100m Business volume(1) +~3% +~3% RoTE a
Slide 31: Final Remarks
Final Remarks The growth in net profit and the continuous reduction in NPAs strengthen the solvency position and allow for an improve dividend Improved business dynamics driven by the execution of the strategic plan... +25% YoY +4% YoY Mutual funds Business volume (1) .. that allow the net profit to
Slide 32: Appendix
Appendix 32
Slide 33: Wholesale Funding and Ratings
Wholesale Funding and Ratings Wholesale funding: breakdown and maturities (1) Maturities breakdown (1,2) Instrument 2025 2026 2027 >2027 Total 11,000 5.6% 7.0% 9,000 3.3% 3.5% 3.2% 5.0% AT1 - 500 - - 500 3.0% 7,000 Tier 2 - - 300 300 600 4,430 1.0% 5,000 Senior non-preferred - 500 300 500 1,300 -1.0
Slide 34: Lending portfolios
Lending portfolios ICO(1) loans evolution (M€) Corporates portfolio (performing) 4% 2,489 33% 1,431 942 866 64% 760 4Q21 4Q23 4Q24 1Q25 2Q25 Real Estate SMEs & SE Other corporates (1) It considers ICO that were granted as ICO from the beginning 34
Slide 35: Breakdown of NPLs and stages
Breakdown of NPLs and stages Credit breakdown by stages June 2025 (€m) Stage 1 Stage 2 Stage 3 Gross balance 45,697 2,465 1,092 Coverage 153 149 493 Coverage level(%) 0.3% 6.0% 45.2% 35
Slide 36: Share and book value
Share and book value Share and liquidity(1): 1Q25 2Q25 # O/S shares (m) 2,571 2,571 Last price (€) 1.71 2.01 Max price (€) 1.81 2.01 Min price (€) 1.26 1.45 Avg. daily traded volume (#shares m) 6.91 7.78 Avg. daily traded volume (€ m) 10.55 13.69 Market Capitalization (€ m) 4,387 5,158 Book Value: B
Slide 37: Income statement
Income statement Million Euros 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 QoQ (%) YoY (%) Net Interest Income 321 357 380 390 383 384 381 369 374 1.5% -2.5% Dividends 18 6 0 0 8 5 1 1 12 na 37.1% Associates 34 15 29 25 34 15 13 22 39 76.1% 14.0% Net fees 134 132 133 130 126 125 131 132 130 -1.7% 3
Slide 38: Balance sheet
Balance sheet Million euros 30/06/2024 30/09/2024 31/12/2024 31/03/2025 30/06/2025 Cash on hand, Central Banks and Other demand deposits 8,388 6,777 7,502 7,726 4,864 Assets held for trading & Financial assets at fair value through P&L 913 1,192 1,142 1,456 1,436 Financial assets at fair value throu
Slide 39: Important legal information
Important legal information This presentation (the Presentation) has been prepared by Unicaja Banco. S.A. (the Company or Unicaja Banco) for informational use only. The recipient of this presentation has the obligation of undertaking its own analysis of the Company. The information provided herein i
Slide 40: Many thanks
Many thanks 2Q25 Earnings Presentation