Alpha Bank S.a. · ATHEX:ALPHA
Alpha Bank — Q4 2025 Earnings Presentation
80 slides from Alpha Bank's earnings presentation, Feb 27, 2026
Slide 1: Alpha Bank Q4 2025 Results
Alpha Bank Q4 2025 Results Investor presentation 27th February 2026
Slide 2: Disclaimer
Disclaimer This presentation has been prepared and issued by Alpha Bank S.A. (“Alpha Bank”), solely for informational purposes. It is hereby noted that on 27.6.2025, the merger by absorption of “Alpha Services and Holdings S.A.” by Alpha Bank was completed. References to “Alpha Services and Holdings
Slide 3: Pages
Pages Business Update 3 Financial Performance Financial Performance 10 Alpha Bank Macroeconomic Update Macroeconomic Update 19 PL P&L 21 Balance Sheet Balance Sheet 32 Asset Quality Asset Quality 44 Capital Capital 50 Segmental Information Segmental Information 56 Digital Digital 62 ESG ESG 64 3
Slide 4: 2025: Another year of sustained growth
2025: Another year of sustained growth FY 2025 Group Results Return on Tangible Equity1 Reported Profit After Tax €943mn +44% y/y 13.8% or 11.9% reported Set strong profitability foundation Normalised Profit After Tax €907mn +5% y/y Net Interest Income €1,610mn (2%) y/y Earnings Per Share2 Resilient
Slide 5: Distributions have quadrupled since resumption
Distributions have quadrupled since resumption Ordinary payouts Group, € mn Payout 0% 20% 43% 55%1 Cash dividends > 4x ▪ €259mn total ordinary cash payout (+270% y/y) to be 519 proposed for FY251 following €111mn paid in December ▪ Implying c6.5 cents final ordinary dividend per share 259 ▪ Committe
Slide 6: Value-accretive M&A accelerating our strategy
Value-accretive M&A accelerating our strategy Full Capital Announced Closing integration EPS ROTE impact Retail date Fintech factoring platform enhancing Accretive 28/01/25 05/08/25 Q1 26 n/a Minimal our solutions for SMEs in Greece in 2025 and Cyprus Consolidating 3rd largest bank position in Cypru
Slide 7: Scaling our top3 presence in Cyprus
Scaling our top3 presence in Cyprus Alpha Bank announced agreement on the key commercial and legal terms of strategic insurance transactions in Cyprus between Universal Life and M&A criteria Altius: fully met ▪ The acquisition of 100% of Altius Insurance c. 2% ▪ And the Merger of Universal Life and
Slide 8: 2025: Successfully outperforming our 3-year business plan
2025: Successfully outperforming our 3-year business plan FY 24 FY 253 FY 25 FY 25 Actual as of ID 2023 as of Feb-25 Actual Total Revenues (€ bn) 2.2 c. 2.1 >2.2 2.2 Cost-Income Ratio 38.2% < 40% c. 39% 38.7% Cost of Risk (bps) 62 < 70 c. 50 48 Reported ROTE 9.0% - c. 11% 11.9% Normalised ROTE exclu
Slide 9: 2026: EPS growth accelerating further
2026: EPS growth accelerating further EPS1 € +11% Investor Day 0.40 ▪ 11% growth in EPS benefiting from increased contribution of fee-generating business on the back of investment in the preceding years 0.36 ▪ Ongoing initiatives and synergies arising from completed M&A to further boost EPS ambition
Slide 10: Financial Performance
Pages Business Update Business Update 3 Financial Performance 10 Alpha Bank Macroeconomic Update Macroeconomic Update 19 PL P&L 21 Balance Sheet Balance Sheet 32 Asset Quality Asset Quality 44 Capital Capital 50 Segmental Information Segmental Information 56 Digital Digital 62 ESG ESG 64 10
Slide 11: Group Profit & Loss Summary
Group Profit & Loss Summary Profit & Loss (€ mn) FY 2024 FY 2025 Δ% Q3 2025 Q4 2025 Δ% Net Interest Income 1,647 1,610 (2%) 402 413 3% Net fee and commission Income 422 501 19% 122 136 12% Trading & Other Income 138 100 (28%) (4) 33 … Operating Income 2,207 2,211 0% 520 583 12% Total Operating Expen
Slide 12: Q4 25 Group Profit and Loss
Q4 25 Group Profit and Loss +12% Group, € mn 568 583 550 558 520 Q4 y/y Operating income ▪ Net interest income +3% q/q or flat excluding AstroBank. Operating Income +3% Fee income +12% q/q ▪ Q4 trading income closer to normal run rate +7% Operating expenses Operating Expenses (4%) ▪ Costs up 10% q/q
Slide 13: Q4 25 Group Balance Sheet
Q4 25 Group Balance Sheet +5% Group, € bn 37.5 34.1 34.5 34.9 35.7 Q4 y/y Performing loans ▪ €1.3bn net credit expansion in Q4, with additional €0.6bn +10% Performing loans1 from AstroBank acquisition ▪ Growth continues to be driven by corporates +4% 77.5 74.2 Customer funds 69.5 69.7 71.6 +11% Cust
Slide 14: Net interest income and Fees
Net interest income and Fees Interest Income / Interest Expense breakdown Fees Group, € mn Group, € mn 406 135 136 395 399 402 413 122 115 32 108 41 33 38 30 28 Loans PE 472 439 417 417 37 410 5 32 25 30 5 3 4 42 7 32 34 36 29 14 10 0 2 Bonds 107 106 110 110 112 1 14 11 14 14 14 Loans NPE 22 19 18 1
Slide 15: Performing loans and Customer Funds
Performing loans and Customer Funds Performing loan book expansion Customer Funds evolution Group, € bn Group, € bn YoY +11% +4% +10% +5% 77.5 0.3 0.7 37.5 74.2 2.2 +2% +1% 65% +1% 35.7 2.6 34.9 69.5 22.4 34.5 1.8 34.1 1.7 21.3 1.6 1.6 7.3 (3%) 7.2 AuMs 18.5 7.4 7.3 7.5 27.7 +11% 25.5 25.9 26.6 51.0
Slide 16: Asset quality
Asset quality NPE ratio Group % NPE ratio target for the 3.7% 3.7% 3.6% 3.6% year achieved 3.5% 65 52 58 Cost of Risk 12 44 10 Servicing fees Cost of Risk at 48bp for 11 9 39 8 Group, bps 8 Securitization expenses 13 11 10 the year reflecting 42 12 40 Underlying 30 16 26 benign environment 58% 57% 5
Slide 17: FY25 evolution in Capital
FY25 evolution in Capital FL CET1 Phased in 15.4% % 0.8% 3.2% (0.4%) (1.2%) 0.1% (0.2%) 17.2% (0.9%) (0.4%) 2.1% Organic Capital Generation FY25 CET1% 130bp below guidance including: ▪ 70bp from acquisitions of 16.3% 15.0% AstroBank and AXIA ▪ 50bp from NPE transactions and PMAs ▪ 20bp higher payout
Slide 18: Impact from completed M&A on Q4
Impact from completed M&A on Q4 Profit & Loss (€ mn) Balance Sheet (€ bn) Net Interest Income 10.8 Cash 1.1 Net fee and commission Income 2.1 Securities 0.6 Total Income 13.7 Loans 0.6 Total Expenses (6.7) Deposits 2.2 Profit/ (Loss) before income tax 7.0 Net Profit 5.3 18
Slide 19: Macroeconomic Update
Pages Business Update Business Update 3 Financial Performance Financial Performance 10 Alpha Bank PL Macroeconomic Update 19 P&L 21 Balance Sheet Balance Sheet 32 Asset Quality Asset Quality 44 Capital Capital 50 Segmental Information Segmental Information 56 Digital Digital 62 ESG ESG 64 19
Slide 20: Declining unemployment and improving creditworthiness
Declining unemployment and improving creditworthiness Unemployment rate (%) 10Y GGB Spreads (bps) Greek Economy Dashboard 2025 Netherlands Real GDP growth Investment HICP inflation Cyprus Croatia +2.0% +6.4% 2.9% (y-o-y) 9m 2025 (y-o-y) 9m 2025 2025 Ireland …outperforming the …mainly driven by const
Slide 21: P&L
Pages Business Update Business Update 3 Financial Performance Financial Performance 10 Alpha Bank Macroeconomic Update Macroeconomic Update 19 P&L 21 Balance Sheet Balance Sheet 32 Asset Quality Asset Quality 44 Capital Capital 50 Segmental Information Segmental Information 56 Digital Digital 62 ESG
Slide 22: Group Profit & Loss Summary
Group Profit & Loss Summary Profit & Loss FY FY yoy % Q4 Q3 qoq % Reported Profit After Tax (€ mn) 2025 2024 change 2025 2025 change +50% +28% Net Interest Income 1,610 1,647 (2%) 413 402 3% €304mn €237mn Net fee and commission Income 501 422 19% 136 122 12% €218mn €184mn Trading & Other Income 100
Slide 23: Profit & Loss - Detailed
Profit & Loss - Detailed qoq% yoy% (€ mn) Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 change change Net Interest Income 405.7 395.3 399.3 402.2 413.3 2.8% 1.9% Net fee and commission income 114.5 108.4 135.3 121.5 136.1 11.9% 18.8% Income from financial operations 43.5 47.3 7.1 (8.0) 14.2 … (67.4%) Othe
Slide 24: Main P&L items
Main P&L items Net Interest Income Net fee and commission income Group, € mn Group, € mn 413 135 136 406 122 399 402 115 395 108 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Recurring operating expenses Cost of Risk1 Group, € mn €mn & bps over net loans 65bps 230 233 58bps 52bps 212 2
Slide 25: Net Interest Income driver headlines
Net Interest Income driver headlines Performing loan spreads3 Deposit costs Individuals Greece, % Deposit beta1 Greece, % Business 24% 24% 22% 22% 21% 3.04% 2.99% 3.01% 2.98% 2.98% Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Term Deposit pass-through2 EUR, % 2.66% 70 64% 65% 65% 64% 60% 2.56% 60 2.47% 50 40 2.39%
Slide 26: Loan and deposit spreads
Loan and deposit spreads Net loan balances & spreads Deposit mix & cost evolution € bn bps, € bn 221 201 190 170 174 273 263 256 % Total 250 245 300 51.0 51.3 52.9 55.1 50.4 41.7 43.5 200 14.9 13.7 14.4 14.9 39.8 40.2 41.0 14.3 27% 100 37.6 38.5 40.2 73% End of 36.1 36.1 quarter balances 0 Q4 24 Q1
Slide 27: Fees
Fees € mn € mn Group Segments 135 136 135 136 122 122 115 32 115 28 108 41 108 43 33 36 38 35 30 30 28 45 37 38 5 32 25 38 30 33 3 41 5 4 42 7 32 45 36 37 34 40 29 37 14 32 2 10 5 0 1 7 14 14 14 1 14 14 11 0 1 5 1 2 5 (1) 2 0 5 10 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Business
Slide 28: Costs
Costs € mn € mn Group Segments Cost-Income 41% 36% 38% 41% 40% ratio 230 233 231 233 212 211 212 211 200 200 97 102 107 102 99 100 88 97 94 94 49 50 90 97 42 47 48 79 82 87 16 18 16 16 18 21 32 22 21 23 43 15 12 33 33 30 35 11 12 12 23 15 16 10 18 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q4 24 Q1 25 Q2 25 Q3 2
Slide 29: Operating Expenses
Operating Expenses Group, € mn Q4 25 Q4 24 yoy % Q4 25 Q3 25 qoq % Recurring Operating Expenses evolution €mn Staff costs (101.7) (97.3) 4.5% (101.7) (93.9) 8.3% 230 233 General Administrative 212 211 (96.7) (89.6) 8.0% (96.7) (87.4) 10.7% 200 expenses Depreciation and 97 102 Staff costs (34.8) (43.
Slide 30: Reported to Normalised
Reported to Normalised Profit & Loss (€ mn) Bridge between reported and normalised profit Q4 2025 Published Delta Normalised Net Interest Income 413 (2) 411 Net fee and commission Income 136 (10) 127 Trading income 14 2 17 Other income 19 10 29 Operating Income 583 583 Staff costs (102) 0 (102) Gene
Slide 31: Reported to Normalised
Reported to Normalised Bridge between Reported and Normalised Profit - Quarterly (€ mn) Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Reported Profit/ (Loss) after income tax 59 111 191 195 121 213 111 171 158 218 304 184 237 Net Interest Inc
Slide 32: Balance Sheet
Pages Business Update Business Update 3 Financial Performance Financial Performance 10 Alpha Bank Macroeconomic Update Macroeconomic Update 19 PL P&L 21 Balance Sheet 32 Asset Quality Asset Quality 44 Capital Capital 50 Segmental Information Segmental Information 56 Digital Digital 62 ESG ESG 64 32
Slide 33: Q4 2025 Group Balance Sheet Summary
Q4 2025 Group Balance Sheet Summary Balance Sheet Tangible Book Value Dec 2025 Sep 2025 Dec 2024 q/q (€ bn) Group, € bn +7% (0.5%) Total Assets 77.5 74.5 72.1 2.9 7.6 7.6 7.5 Securities 17.7 17.2 16.9 0.5 7.2 Cash & Cash Balances 3.5 3.5 3.0 0.0 7.1 Net Loans 43.5 41.7 39.8 1.8 Q4 24 Q1 25 Q2 25 Q3
Slide 34: Balance sheet composition
Balance sheet composition Asset split Liabilities and Equity split € bn 77.5 € bn 77.5 74.5 74.5 2.3 Cash 3.5 ECB Cash 3.5 2.3 ECB Due from Banks 2.8 4.2 Due to Banks Due from Banks 2.5 4.2 Due to Banks Securities 17.7 14.9 Time Deposits Securities 17.2 14.4 Time Deposits 52.9 55.1 40.2 Core Deposit
Slide 35: Business Volumes
Business Volumes (€ mn) Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 % YoY Group Gross Loans 40,479 40,786 41,687 42,361 44,181 9.1% Mortgages 6,888 6,846 6,744 6,767 6,972 1.2% Consumer Loans 1,212 1,197 1,217 1,233 1,315 8.5% Credit Cards 994 943 942 950 1,017 2.3% Small Business Loans 1,864 1,835
Slide 36: Net Credit Expansion trends
Net Credit Expansion trends Net credit expansion Individuals Businesses Greece, € bn 2.0 1.3 0.2 0.3 Disbursements 1.2 0.7 0.1 0.9 0.2 0.6 0.2 0.2 0.0 3.9 0.1 3.9 0.2 2.9 2.7 0.2 2.4 2.6 2.8 1.7 1.9 (1.6) (1.7) (1.9) (1.7) (1.9) (1.7) (1.7) (2.1) Repayments (0.2) (2.8) (0.2) (0.2) (0.2) (0.2) (0.1)
Slide 37: Net credit expansion breakdown
Net credit expansion breakdown Performing loans New disbursements – per category Greece, € bn Greece, € mn Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Beginning of period 35.9 36.8 38.9 39.1 39.8 40.4 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Disbursements 3.0 4.0 2.5 2.8 3.0 4.2 Individuals 169
Slide 38: Loan portfolio breakdown
Loan portfolio breakdown Information Total Group loans – per segment Group Loans portfolio structure1 and € bn € bn Consumer loans Households communication Credit Cards 3% 21% 1% 2% Small Business Loans Financial and insurance activities Administrative 4% 19% and Mortgages support 16% Transportation
Slide 39: Securities portfolio
Securities portfolio Securities portfolio Group, Book value, Dec-25, € bn ▪ The “Other/ECB eligible” bonds of €8.7bn is broken down to the following T-bills Mutual Funds & Equities categories: 0.5 0.4 o/w 15.4bn • €5.1bn other sovereign bonds HQLAs • €1.0bn bonds issued by supranationals GGBs 17.7bn
Slide 40: Customer Funds trends
Customer Funds trends Customer Funds evolution Deposit Mix Group, € bn Greece, € bn +11% +4% 49.1 48.9 47.4 46.7 47.4 1% 1% 77.5 74.2 0.3 0.7 State 1% 1% 1% 2.2 69.5 24% 23% Time 26% 23% 22.4 25% 21.3 AUMS 18.5 76% 75% 76% 55.1 Core 73% 74% Deposits 51.0 52.9 Dec 2024 Sep 2025 Deposits Net Sales Val
Slide 41: Deposits flow per quarter
Deposits flow per quarter Alpha Bank deposits evolution in Greece Deposits breakdown – December 2025 Greece, € bn Q1: Q2: Q3: Q4: (€0.7bn) €0.7bn €1.7bn (€0.2bn) Time 1.4 0.9 0.8 49.1 0.4 48.9 24% 47.4 46.7 47.4 (0.7) (0.6) (0.1) (0.6) Δ Core Δ Time 76% Core Dec-24 Core Time Mar-25 Core Time Jun-25
Slide 42: ECB Balances and Liquidity metrics
ECB Balances and Liquidity metrics ECB balances Group LCR & LDR Group, € bn % % over 17% 17% 12% 7% 7% 5% 5% 3% 4% 4% 3% 3% 3% 203% 194% 194% 195% Total 184% Assets 13.0 ECB Collateral pledged ▪ Credit claims LCR ▪ Other bonds LDR 9.0 78% 80% 80% 79% 79% 11.6 5.0 5.0 5.0 11.2 11.2 4.0 4.0 Commercial
Slide 43: Wealth management
Wealth management Asset Management balances Private Banking Group, € bn Group, € bn 9.0 22.4 8.7 21.3 8.5 9.3 20.3 8.1 0.3 Money Market 7.9 19.3 2.7 2.0 2.3 18.5 3rd-party 2.1 9.3 1.7 1.9 8.9 Alpha Asset 8.3 6.3 7.6 Management 7.3 2.3 2.7 2.4 2.4 2.6 2.9 0% 2.9 2.8 Mkt 3.0 Share 3.2 16% MM Equity 2%
Slide 44: Asset Quality
Pages Business Update Business Update 3 Financial Performance Financial Performance 10 Macroeconomic Update Alpha Bank PL Macroeconomic Update 19 P&L 21 Balance Sheet Balance Sheet 32 Asset Quality 44 Capital Capital 50 Segmental Information Segmental Information 56 Digital Digital 62 ESG ESG 64 44
Slide 45: NPE flows and Cost of Risk trends
NPE flows and Cost of Risk trends NPE (0.0) 0.0 0.1 0.1 0.0 Cost of Risk formation bps (over net loans) Greece, € bn 65 12 58 52 10 0.19 0.20 0.20 0.18 0.17 Inflows 11 9 44 8 39 8 13 11 10 (0.09) (0.09) Cures & 42 12 (0.10) (0.11) 40 repayments (0.16) 30 26 (0.02) (0.02) CPs 16 (0.08) (0.03) & write
Slide 46: Gross organic NPE formation in Greece per segment
Gross organic NPE formation in Greece per segment Gross formation (Organic) - Wholesale Gross formation (Organic) - Retail Greece, € mn Greece, € mn 334 80 170 70 32 102 84 76 58 7 (10) (29) (11) (5) (16) (38) (155) (186) (192) (254) (284) (353) (461) (994) 2018 2019 2020 2021 2022 2023 2024 Q4 Q1 Q
Slide 47: Auctions and repossession activity evolution
Auctions and repossession activity evolution Auctioned properties (Conducted) 4Q2025 1.729 1.344 749 653 ▪ The auction activity demonstrated a downward trend in FY2025, with the number of conducted auctions decreasing by 62% compared to FY2024. 236 191 190 The success rate remained broadly stable, i
Slide 48: Detailed overview of asset quality by portfolio - Greece
Detailed overview of asset quality by portfolio - Greece (€ bn) Wholesale SBL Mortgages Consumer Total Gross loans 31.3 1.9 6.1 2.2 41.5 (-) Accumulated Provisions (0.2) (0.2) (0.3) (0.2) (0.8) Net loans 31.2 1.7 5.8 2.0 40.7 NPLs 0.1 0.2 0.5 0.1 1.0 NPL ratio 0.3% 12.0% 8.1% 6.8% 2.3% NPEs 0.2 0.3
Slide 49: Detailed overview of asset quality by portfolio - Group
Detailed overview of asset quality by portfolio - Group (€ bn) Wholesale SBL Mortgages Consumer Total Gross loans 33.0 1.9 7.0 2.3 44.2 (-) Accumulated Provisions (0.2) (0.2) (0.4) (0.2) (0.9) Net loans 32.8 1.7 6.6 2.2 43.3 NPLs 0.1 0.2 0.6 0.2 1.1 NPL ratio 0.4% 12.0% 8.0% 7.1% 2.5% NPEs 0.3 0.3 0
Slide 50: Capital
Pages Business Update Business Update 3 Financial Performance Financial Performance 10 Alpha Bank Macroeconomic Update Macroeconomic Update 19 PL P&L 21 Balance Sheet Balance Sheet 32 Asset Quality Asset Quality 44 Capital 50 Segmental Information Segmental Information 56 Digital Digital 62 ESG ESG
Slide 51: Quarterly evolution in Capital
Quarterly evolution in Capital FL CET1 q/q % 0.9% 0.3% (0.1%) (0.5%) (0.2%) (0.3%) 15.7% 15.7% 15.0% 0.5% Organic Capital Generation Sep-25 Q4 25 Organic DTA DTC RWAs other capital Transactions Dec-25 Dec-25 post capital elements dividend accrual RWAs q/q % €1.47bn 31.7 1.5 0.1 33.1 0.4 3.6 (0.2) 0.
Slide 52: Actuals and regulatory requirements
Actuals and regulatory requirements 29.6% 27.5% 20.2% 17.2% 15.0% 14.9% 12.8% 0.8% 29.6% 2.0% 27.5% 0.6% CCyB 10.1% 1.5% 0.4% 20.2% P2R 1.7% 17.2% 1.0% 15.0% O-S II 2.5% CCB Pillar 1 4.5% 1 Q4 2025 CET1 Q4 2025 FL CET1 Q4 2025 T1 Q4 2025 FL T1 Q4 2025 OCR Q4 2025 FL CAD 31.12.2025 MREL Q4 2025 MREL
Slide 53: Regulatory Capital composition
Regulatory Capital composition Equity to regulatory capital bridge € mn 9.9% Tangible book value / Tangible Assets 8,105 7,589 (516) 1,015 6,702 700 5,686 (1,831) (150) 4,986 (621) Ordinary Intangibles Tangible DTA deduction DTC Other CET1 AT1 & Hybrids Tier 1 Lower Tier II Total CAD Equity Book Val
Slide 54: Group RWAs and Regulatory Capital
Group RWAs and Regulatory Capital Group Risk Weighted Assets evolution Credit Risk Weights per portfolio € bn % €1.47bn 100% 1.5 0.1 33.1 31.7 (0.2) 3.5 44% 45% 3.6 0.5 0.4 Performing Net NPE Total Loan Portfolio RWA Density 27.7 29.2 DTA & Tax Credit with CET1 Capital € bn CET1 5.0 5.0 2.8 2.8 Sep
Slide 55: Further progress towards meeting MREL Requirements
Further progress towards meeting MREL Requirements +2.08% ▪ No subordinated MREL requirement surplus ▪ Expect Alpha Bank to continue to be a regular issuer in the debt capital markets 29.59% 27.51% 0.41% 3.93% 8.53% ▪ MREL ratio as of 31.12.2025 stands at 28.7%, well above the final MREL binding tar
Slide 56: Segmental Information
Pages Business Update Business Update 3 Financial Performance Financial Performance 10 Macroeconomic Update Alpha Bank PL Macroeconomic Update 19 P&L 21 Balance Sheet Balance Sheet 32 Asset Quality Asset Quality 44 Capital Capital 50 Segmental Information 56 Digital Digital 62 ESG ESG 64 56
Slide 57: Retail
Retail Key figures REVENUES / VOLUMES PROFITABILITY (in €mm) FY 25 FY 24 ∆difference, % (€57mn) €0.8bn Net loans 8,908 9,136 (2%) Revenues y/y Deposits y/y Deposits 35,374 34,553 2% (€58mn) +0.5mn (0.2bn) Total revenues 730 788 (7%) Profits3 y/y Net Loans y/y Recurring Operating (395) (407) (3%) exp
Slide 58: Wholesale
Wholesale Key figures REVENUES / VOLUMES PROFITABILITY (in €mm) FY 2025 FY 2024 ∆difference, % +€43mn (0.1bn) Net loans 30,255 27,505 10% Revenues y/y Deposits y/y Deposits 10,554 10,661 (1%) +€24mn €2.7bn Total revenues 951 908 5% Profits3 y/y Net Loans y/y Recurring Operating (187) (178) 5% expens
Slide 59: Wealth
Wealth Key figures REVENUES / VOLUMES PROFITABILITY (in €mm) FY 2025 FY 2024 ∆difference, % +€47mn €2bn Assets under 22,385 18,455 21% Revenues y/y Mutual Funds y/y Management Total revenues 183 136 34% +€26mn €1.9bn Recurring Operating (69) (57) 21% Profits3 y/y Other AUMs y/y expenses Normalised P
Slide 60: International
International Key figures REVENUES / VOLUMES PROFITABILITY (in €mm) FY 2025 FY 2024 ∆difference, % +€6mn €2.5bn Net loans 2,528 1,520 66% Revenues y/y Deposits y/y Deposits 6,159 3,611 71% (€4mn) €1bn Total revenues 161 155 4% Profits y/y Net Loans y/y Recurring Operating (98) (79) 24% expenses Norm
Slide 61: NPAs and Corporate Center
NPAs and Corporate Center Non Performing Assets (NPAs) Corporate Center (in €mm) FY 2025 FY 2024 ∆difference, % (in €mm) FY 2025 FY 2024 ∆difference, % Net loans 1,218 1,086 12% Assets 20,100 20,041 0% Assets 2,041 2,436 (16%) TBV 1,468 1,460 1% Total revenues 27 33 (19%) Total revenues 158 187 (15%
Slide 62: Digital
Pages Business Update Business Update 3 Financial Performance Financial Performance 10 Alpha Bank Macroeconomic Update Macroeconomic Update 19 PL P&L 21 Balance Sheet Balance Sheet 32 Asset Quality Asset Quality 44 Capital Capital 50 Segmental Information Segmental Information 56 Digital 62 ESG ESG
Slide 63: Continuous improvement in key digital metrics
Continuous improvement in key digital metrics 2025 Key Achievements Investor Day KPIs +27% Increase in Mobile Transactions YoY 2023 2024 2025 2025 Target +32% Digital Sales Items YoY (31% of total sales) Digital Sales 23% 27% 31% 30% 4 out of 5 Consumer Loans digitally Daily Banking 37% of Credit Ca
Slide 64: ESG
Pages Business Update Business Update 3 Financial Performance Financial Performance 10 Macroeconomic Update Alpha Bank PL Macroeconomic Update 19 P&L 21 Balance Sheet Balance Sheet 32 Asset Quality Asset Quality 44 Capital Capital 50 Segmental Information Segmental Information 56 Digital Digital 62
Slide 65: Our approach to ESG business opportunities
Our approach to ESG business opportunities The pillars of our Sustainability Strategy Setting Science-Based Targets for selected material-impact sectors, including Transition Pathways to support corporate clients to meet the Bank’s climate targets Sustainable Finance Framework lays the groundwork fo
Slide 66: Net Zero targets disclosed
Net Zero targets disclosed Commitment Strategy Governance Progress • Target setting and monitoring • Engaging with our clients • Processes • Transition paths for disclosed • Risk management • Engaging with other stakeholders • Roles targets • Transition products • Training • Expansion of portfolio c
Slide 67: Sustainable Finance Framework
Sustainable Finance Framework Category Type Purpose • Transmission and Distribution systems and Upgrades • Energy Efficiency Technologies Energy efficiency • Public Services and Utilities • Industrial & Agricultural processes • Construction/ Purchase of new buildings Green buildings • Renovation of
Slide 68: Green Bond Framework
Green Bond Framework Green Bond Framework Principles Inaugural Green Bond Issuance Category Type • Use of Proceeds: financing of green investments • Seniority: Senior Preferred Bond Green dedicated-purpose loans • Size: € 500 million • Demand: > € 3 billion Eligible Green Loan Categories Recovery an
Slide 69: Embedding Climate and Environmental Risk into Core Banking
Embedding Climate and Environmental Risk into Core Banking ESG Assessment of all Clients Transaction Assessment • Assessment via interbank ESG questionnaire since 2023 • Assesses Environmental and Social impact of specific economic activity to be financed • Sector-based questionnaires, including cli
Slide 70: Energy Facts 2019 – 2025
Energy Facts 2019 – 2025 2025 data are preliminary, external verification is Energy Strategy pending Eliminate fossil fuels Energy efficiency Optimize operation Renewable energy Electricity ▪ Replacement of oil and ▪ High energy efficiency HVAC ▪ Rational use of energy in ▪ Buildings’ integrated PV
Slide 71: Building stronger Communities, Together
Building stronger Communities, Together From Donations, to Sustainable Social Investment • Consolidated Social Program: we integrated all community initiatives into a single cohesive framework, designed for impactful social benefit • Measuring What Matters: we are implementing SROI studies to evalua
Slide 72: Driving Sustainable Progress
Driving Sustainable Progress Support an environmentally Foster healthy economies Ensure robust & sustainable economy and societal progress transparent governance € 2.1 billion 87% branches 45% Women for Sustainable Disbursements in 2025 of the Group are accessible at Board of Directors Advancing our
Slide 73: Recognition of our commitment to Sustainability
Recognition of our commitment to Sustainability Rating Performance Decile Rank C 54.05 2 We have submitted οur Memberships first Communication on Progress (CoP) to the Trend Transparency Prime Status UN Global Compact Very High Prime NEGL LOW MED HIGH SEVERE 0-10 10-20 20-30 30-40 40+ Poor Below Ave
Slide 74: Our journey to Sustainability
Our journey to Sustainability 2019 - 2023 2024 - 2025 2026- Set the foundations to fully embedding Set science-based net-zero targets Scale up sustainable finance to achieve sustainability into our business plan full potential UNEP FI signatory and adoption of Principles of Responsible 2019 Banking
Slide 75: Glossary (1/5)
Glossary (1/5) Reference Terms Definitions Relevance of the metric Abbreviation number Accumulated Provisions and Sum of Provision for impairment losses for loans and advances to customers, the Provision for impairment losses for the total amount of off balance Standard banking 1 LLR FV adjustments
Slide 76: Glossary (2/5)
Glossary (2/5) Reference Relevance of the Terms Definitions Abbreviation number metric Sum of Impairment losses of fixed assets and equity investments ,Gains/(Losses) on disposal of fixed assets and equity investments and o/w Impairments & Gains/(Losses) on Impairment losses, provisions to cover cre
Slide 77: Glossary (3/5)
Glossary (3/5) Reference Terms Definitions Relevance of the metric Abbreviation number Non Performing Loan Collateral NPL collateral 32 Value of collateral received for Non Performing Loans (30) divided by NPLs (36) at the end of the reference period. Asset quality metric Coverage Coverage Accumulat
Slide 78: Glossary (4/5)
Glossary (4/5) Reference Terms Definitions Relevance of the metric Abbreviation number Sum of Impairment losses of fixed assets and equity investments, Gains/(Losses) on disposal of fixed assets and equity investments, o/w Impairment losses, provisions to cover credit risk on other financial instrum
Slide 79: Glossary (5/5)
Glossary (5/5) Reference Terms Definitions Relevance of the metric Abbreviation number Net profit/(loss) attributable to: Equity holders of the Bank (annualised), less “Payment of AT1 dividend”, as disclosed in Consolidated Statement of Return on Tangible Equity RoTBV or RoTE 53 Changes in Equity di
Slide 80: Alpha Bank Contacts
Alpha Bank Contacts Vasileios Kosmas CFO +30 210 326 2291 vgk-cfo-office@alpha.gr Iason Kepaptsoglou Stella Traka Selini Milioni Director Manager Senior Specialist Investor Relations Division Investor Relations Division Investor Relations Division +30 210 326 2271 +30 210 326 2274 +30 210 326 2273 i