Slide 1: 1Q26 Results
fi,» May 7th 2026 1Q26 Results s
Slide 2: Disclaimer
Disclaimer • “Pursuant to the paragraph 2 of Article 154 bis of the Consolidated Law on Financial Intermediation (Legislative Decree no. 58 of February 24, 1998), Erick Vecchi, in his capacity as manager responsible for the preparation of FinecoBank S.p.A.’s (the “Company”)’s financial reports, decl
Slide 3: Agenda
Agenda Section 1: Fineco Financial Results 04 Section 2: Commercial Results 12 Section 3: Next Steps 19 Section 4: Key Messages 25
Slide 4: Section 1: Fineco Financial Results
Section 1: Fineco Financial Results 4
Slide 5: Executive summary: quickly moving towards our next growth cycle
Executive summary: quickly moving towards our next growth cycle The Disruptor advantage: winning the long-term game thanks to a unique positioning Material step-up in net sales and new clients Strong net profit and operating leverage • 1Q26 Net sales: 4.6 bn (+43.8% y/y). April Net Sales: at ~1.3 bn
Slide 6: Delivering strong Net Profit in every market condition
Delivering strong Net Profit in every market condition Results supported by sound acceleration of Investing and Brokerage. Strong operating leverage confirmed 1Q26 Revenues: all product areas contributing mln 1Q25 1Q26 /1Q25 Net Financial Income 161.3 163.0 1.0% Net Non Financial Income 167.7 180.6
Slide 7: Net Financial Income: growth ahead driven by valuable deposits
Net Financial Income: growth ahead driven by valuable deposits Supported by our clients’ transactional liquidity A quality, industrially driven NII Net Financial Income Sticky transactional deposits with cost of funding close to zero Even a small banking-only client is profitable mln, € +1.0% +1.0%
Slide 8: Investing: solid growth aligned with long-term trends
Investing: solid growth aligned with long-term trends Thanks to demand for explicit fee solutions and increasing FAM contribution Investing revenues AUM: growth aligned with structural trends +8.0% mln, € AUM Stock (EOP) bn, € -5.6% 66.3 74.0 73.9 108.1 102.0 94.5 1Q25 4Q25 1Q26 % Advanced advisory
Slide 9: Brokerage: a new structural growth under way
Brokerage: a new structural growth under way Fineco the platform of choice for stronger retail engagement trend An higher floor of Brokerage revenues… …driven by a structurally higher stock of AUC mln, € Avg monthly revenues bn, € AUC stock CAGR CAGR +15.4% 24.2 +23.2% 54.8 56.7 21.3 18.1 44.7 16.0
Slide 10: Lending, a high-quality business
Lending, a high-quality business Offered exclusively to the existing base of clients Commercial Loans Portfolio (gross) €, mln eop +3.7% Cost of Risk on commercial loans (2) -0.3% Cost of Risk NPE ratio (3) 5,110 5,317 5,299 2,034 2,271 2,349 9 bps 0.53% 470 470 473 No Corporate Loans 343 434 369 2,
Slide 11: Rock-solid capital and liquidity ratios
Rock-solid capital and liquidity ratios Well above requirements Current Mar.25 Dec.25 Mar.26 (€/bn) Mar.25 Dec.25 Mar.26 Requirements CET1 Ratio 23.99% 23.30% 23.34% 8.66% CET1 Capital 1.34 1.45 1.47 CAPITAL Total Capital Ratio 32.94% 31.37% 31.27% 13.03% Tier1 Capital 1.84 1.95 1.97 Leverage Ratio
Slide 12: Section 2: Commercial results
Section 2: Commercial results 12
Slide 13: A unique positioning for a long-term growth story
A unique positioning for a long-term growth story Italian households TFA: addressable market (1) bn, € 4,155 The Established Disruptor: a structural winner in a quickly changing market Addressable market 96.3% FBK 3.7% market share AI disruption Massive generational wealth transfer Consolidation in
Slide 14: Fineco, long term sustainability for our AUM fee structure
Fineco, long term sustainability for our AUM fee structure % of Active Funds charging Performance Fees (by country of domicile) (1) Fineco: a clear outlier 64.9% 43.9% A unique market positioning based on 11.9% 13.3% Efficiency, Transparency and Convenience 1.1% 6.9% UK Ireland Lux All Germany Italy
Slide 15: Fineco at an inflection point
Fineco at an inflection point A material step-up in our growth trajectory bn, € Thd, # Total Net Sales New clients 13.4 193.8 152.4 9.8 +43.8% 119.2 +17.6% 97.3 5.7 4.6 65.0 3.2 55.3 2.6 avg avg avg 2025 1Q25 1Q26 2022 2023 2024 2025 1Q25 1Q26 2010/14 2015/19 2020/24 15
Slide 16: Outperforming in young and PB clients
Outperforming in young and PB clients Under 35 Private Banking Consistently gaining market share Avg TFA New clients 1.0 mln above 35 years (by headcount) € bn, TFA under 35 years +265.2% 81.4 81.2 49% 9% 22.2 47% 59% 51% +266.1% 44% 51% 2016 vs. 2025 1Q26 41% 49% AIPB +82.6% 2021 2025 1Q26 Market s
Slide 17: Net Sales and Total Clients evolution
Net Sales and Total Clients evolution Fineco: a sizable step-up in our growth Total Net Sales Total Clients € bn, TFA #, k +33.3% +8.7% 13.4 1,800.0 1,850.3 8.8 1,655.6 10.3 1,562.9 10.1 5.5 1,487.3 2.7 3.6 +43.8% 4.1 4.6 6.0 3.2 5.6 8.3 1.2 4.8 1.1 2.7 3.6 1.1 1.2 2.0 -0.6 -0.2 -2.1 2022 2023 2024
Slide 18: Net Sales and client acquisition evolution
Net Sales and client acquisition evolution Fineco: a sizable step-up in our growth Total Net Sales – Organic / Recruit New PFAs recruited in the year PFAs recruited over the last 24 months €, bn 10.3 8.8 10.1 13.4 4.6 10.3 8.8 10.1 13.4 4.6 5% 4% 6% 3% 1% 10% 13% 12% 9% 6% Total recruits 95% 96% 94%
Slide 19: Section 3: Next steps
Section 3: Next steps 19
Slide 20: 2026 Guidance: upgraded outlook
2026 Guidance: upgraded outlook Revenues Costs and provisions Upgraded outlook for 2026 and 2029 Plan, driven by • Operating costs: expected growth of around 6% y/y, combination of: 1) better than expected net sales and not including few millions of additional costs for clients’ growth; 2) very stro
Slide 21: Unlocking AUC potential: focus on initiatives
Unlocking AUC potential: focus on initiatives Securities Lending platform Auto-FX Systematic Internaliser/ Market maker Live Launch in June New Platform Positioning towards a quote- A market-place to provide access All our client base can now Live driven market evolution: to our high quality & growi
Slide 22: ETF: a new revenues engine for Brokerage and Investing
ETF: a new revenues engine for Brokerage and Investing A fast-accelerating shift underneath the surface of the Italian Wealth Management industry A new revenues engine €, mln ETFs Stock +59.8% 37.6 €, bn 17.9 16.7 23.5 ETFs in AUC 14.0 11.1 ETFs in AUM 13.2 12.3 8.2 2024 2025 1Q26 4.4 4.7 A portion
Slide 23: Fineco pan-European platform
Fineco pan-European platform Launch by end 2026/early 2027 Our vertically integrated brokerage key to launch a multi-country platform Strong operating leverage & very low fixed costs A distinctive proposition Established Disruptor: a Trusted & Leveraging our Italian IT infrastructure Significant Ban
Slide 24: Deploying AI across the platform
Deploying AI across the platform Brokerage Copilot AI Assistant for PFA A new AI-driven user experience Already live CRM for PFAs and Managers Family&Friends phase • Fully integrated with Fineco platform and data to manage clients and advisor teams Screening securities • Clustering clients and prosp
Slide 25: Focus on our sticky Transactional Liquidity
Focus on our sticky Transactional Liquidity Fully fledged Banking platform used by all our clients for their daily life needs NSFR: Fineco a clear outlier thanks to our stable deposits Available Stable Funding Granular and retail deposit base NSFR = >100% Required Stable Funding ~32 bn deposits 418%
Slide 26: Section 4: Key Messages
Section 4: Key Messages 26
Slide 27: Fineco - Built to win
Fineco - Built to win 10+ years listed: delivering value to all stakeholders A leading …delivering growth story… rock-solid returns Winning clients’ trust leveraging on our core-values Fineco TFA growth Efficiency Transparency + 6.7pp CAGR vs system (2014-2024) 25% ROE FY25 Convenience Market share
Slide 28: Fineco, a track record of healthy and sustainable growth
Fineco, a track record of healthy and sustainable growth A healthy & solid commercial …translated in quality & growing results trajectory… thanks to our scalable operating platform CAGR CAGR Revenues (1) (mln) 1,317 429 +11% Clients (thd, #) Costs (1) (mln) 1,800 356 964 +6% 190 +6% Net profit (1) (
Slide 29: Fineco: all business areas to sustain revenue growth
Fineco: all business areas to sustain revenue growth Strong acceleration in client growth to drive higher revenue contribution across our diversified model Banking • High quality NII thanks to sticky transactional liquidity • Cost of funding close to 0 Structurally hedged model to deliver sustainabl
Slide 30: Technology — The Engine behind Fineco scalability
Technology — The Engine behind Fineco scalability A proven platform, a clear plan, and the conviction to execute it Track record 99.9%+ Availability ~ 6% IT Cost / Revenue vs 11.6% avg << bps1 Op. losses from tech, cyber & fraud 1.8M Customers served ~ 430M Digital accesses/yr The next phase demands
Slide 31: Our Sustainability commitment
Our Sustainability commitment Combining business growth and financial strength with the principles of sustainability, in order to create long-term value for all Stakeholders Best-in-class governance framework and strong responsible finance practices to sustain a low-risk business model and drive rel
Slide 32: Annex
Annex 32
Slide 33: P&L reclassified
P&L reclassified mln 1Q25 2Q25 3Q25 4Q25 FY25 1Q26 Net Financial Income 161.3 153.7 156.6 161.4 633.1 163.0 Net Non Financial Income 167.7 162.7 168.2 186.1 684.7 180.6 Net Other expenses/income 0.2 -1.3 0.5 -0.7 -1.3 -0.7 Total revenues 329.3 315.1 325.3 346.9 1316.5 342.9 Staff expenses -36.4 -37.
Slide 34: 1Q26 P&L FinecoBank and Fineco Asset Management
1Q26 P&L FinecoBank and Fineco Asset Management Fineco Asset FinecoBank FinecoBank mln Management Individual Consolidated Net Financial Income 0.1 162.9 163.0 Net Non Financial Income 47.2 133.5 180.6 o/w Dividends 0.0 0.0 0.0 Net other expenses/income -0.5 -0.2 -0.7 Total revenues 46.8 296.2 342.9
Slide 35: Details on Net Interest Income
Details on Net Interest Income Volumes & Volumes & Volumes & Volumes & Volumes & Volumes & mln 1Q25 2Q25 3Q25 4Q25 FY25 1Q26 Margins Margins Margins Margins Margins Margins Financial Investments 106.7 26,768 105.4 27,511 110.2 28,603 114.9 29,259 437.2 28,035 117.7 29,656 Net Margin 1.62% 1.54% 1.53
Slide 36: Focus on Bond portfolio
Focus on Bond portfolio Low risk driven by sticky transactional liquidity A safe and diversified Bond Portfolio Bond portfolio run-offs: a clear opportunity by reinvestment yields A diversified blend of EU govies, supranational and agencies € bn, eop 27.0 bn Fixed rate bonds Avg yield of fixed rate
Slide 37: Net Commissions by product area
Net Commissions by product area mln 4Q24 1Q25 2Q25 3Q25 4Q25 FY25 1Q26 Banking 12.9 11.1 11.4 12.1 15.3 50.0 12.5 Brokerage 29.6 37.1 31.2 31.1 38.2 137.5 40.4 o/w Equity 24.2 28.5 24.8 26.2 29.2 108.7 31.9 Bond 2.4 5.8 3.6 1.8 6.5 17.6 5.6 Derivatives 2.9 3.1 2.7 2.3 2.6 10.7 3.0 Other commissions
Slide 38: Revenues breakdown by product area
Revenues breakdown by product area mln 1Q25 2Q25 3Q25 4Q25 FY25 1Q26 Net Financial Income 151.9 145.2 146.7 152.0 595.8 154.0 Non Financial Income 10.8 11.1 12.3 15.8 50.0 12.3 Other 0.1 -0.3 0.0 -0.4 -0.5 -0.5 Total Banking 162.8 156.0 159.0 167.4 645.2 165.8 48% Net interest income 4.5 3.2 3.8 4.3
Slide 39: Breakdown Total Financial Assets
Breakdown Total Financial Assets mln Mar.25 Jun.25 Sep.25 Dec.25 Mar.26 AUM 66,319 68,606 71,237 74,041 73,873 Funds and Sicav 45,596 47,513 49,782 51,814 51,693 Insurance 12,744 12,610 12,511 12,493 12,289 AUC under advisory 7,482 7,967 8,355 9,114 9,264 Other 497 516 590 620 627 AUC 46,817 49,196
Slide 40: TFA and Net Sales evolution
TFA and Net Sales evolution Breakdown of Total Financial Assets € bn 160.6 162.1 140.8 AuM AuC Deposits 122.6 107.9 46% 46% 106.6 FAM retail / total AUM 91.7 47% 81.4 47% 67.2 69.3 51% 49% 55.3 60.2 49% 49.3 50% 34% 35% 48% 50% 48% 29% 32% 48% 48% 20% 21% 22% 20% 20% 19% 24% 24% 21% 31% 30% 32% 31%
Slide 41: Fineco: a safe, liquid and diversified Balance Sheet
Fineco: a safe, liquid and diversified Balance Sheet Balance Sheet Transactional liquidity: Cost of funding close to 0 37.4 bn • Driven by our clients’ valuable transactional liquidity and not by lending (no costs and provisions due to NPL) 412% NSFR 26.8 32.2 Selective Lending • Ancillary business
Slide 42: Balance Sheet details
Balance Sheet details mln Mar.25 Jun.25 Sep.25 Dec.25 Mar.26 Due from Banks (*) 2,188 2,023 2,531 2,276 2,254 Loans to Customers 6,132 6,169 6,220 6,378 6,298 Financial Assets (*) 23,734 25,138 25,682 26,277 26,806 Tangible and Intangible Assets 269 268 267 276 275 Hedging instruments 510 453 442 44
Slide 43: Leverage Ratio comfortably under control
Leverage Ratio comfortably under control Leverage Ratio Sensitivity: multi-year view Capital Management: our priorities Delta Retained earnings = Tier 1 Capital (mln) 0 150 300 400 450 500 550 600 650 -2,000 5.74% 6.13% 6.38% 6.51% 6.63% 6.76% 6.89% 7.01% 1 • Regulatory capital -1,500 5.66% 6.04% 6.
Slide 44: Funding – Fixed Income
Funding – Fixed Income Senior Preferred instruments ➢ €300 mln Senior Preferred (6NC5) issued on February 16th, 2023 to ➢ €500 mln Senior Preferred (6NC5) issued on October 14th, 2021 to be have an additional buffer above the Fully Loaded MREL Requirement on immediately compliant with the Fully Load
Slide 45: ESG ratings, Indices and highlights
ESG ratings, Indices and highlights ESG ratings ESG Indices Rating agency Evaluation scale As today S&P Global From 0 to 100 68 CDP From D- to A B S&P Global 1200 ESG index Sustainalytics From 100 to 0 11.4 low risk S&P Global LargeMidCap ESG Index MSCI From CCC to AAA AA Standard Ethics Italian Ban