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

Grupo Financiero Banorte Sab De Cv Class O — Q1 2025 Earnings Presentation

28 slides from Grupo Financiero Banorte Sab De Cv Class O's earnings presentation, Apr 25, 2025

  1. Slide 1: Banorte

    = ~ 42 BANORTE

  2. Slide 2: Contents: Us, Results, Deposits & Loans, Appendix

    Us History and Business Highlights → Us Mkt Market Presence → Mkt TI Digital Bank → TI Results NIM NIM NIM → 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 Asset Quality - NPL AQ CAR CAR

  3. Slide 3: From Regional Bank to Second Largest National Financial Group

     From Regional Bank to Second Largest National Financial Group 15.2%* 4,5,6 Plan 1,2,3 Plan 20|20 Plan • Best • Banorte’s experience Client Digital Business Diversification Segmentation Transformation • Best * Loan book IT : central DB, personalized Market Share • JV Rappi offer Inorganic Growth mu

  4. Slide 4: Nation Wide Operation 1Q25

     Nation Wide Operation 1Q25 1,200 Branches 11,461 ATM 225,286 POS 19,719 Correspondents

  5. Slide 5: A Leading Bank in Mexico Globally Recognized

     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 >1M New customer TDF clients behavior Deposits & Loans Mobile Client Segmentation Insurances ▪ 13.0 million banking clients Web Rappi 15-year 7.9 million Afore clients commercial Digital Bank Pensions ATM ▪ St

  7. Slide 7: Deposit & Loan Market Share

     Deposit & Loan Market Share Deposits Loans BBVA Others Others 23% BBVA 22% 25% 25% Inbursa 2nd 6% 2nd Inbursa 4% Banorte HSBC Banorte 14% 7% Scotiabank 15% 7% Scotiabank HSBC Banamex 7% Banamex Santander 7% Santander 9% 6% 12% 11% Source: CNBV Feb 2025

  8. Slide 8: Market Share by Segment

     Market Share by Segment Auto Payroll C. Card Mortgage Commercial Government Deposits Feb-24 Feb-25 Feb-24 Feb-25 Feb-24 Feb-25 Feb-24 Feb-25 Feb-24 Feb-25 Feb-24 Feb-25 Feb-24 Feb-25 Banorte 21.7% 18.1% 20.7% 21.0% 10.6% 11.2% 19.5% 19.6% 12.4% 12.7% 25.7% 27.5% 13.7% 13.9% BBVA 27.1% 22.7% 38.5%

  9. Slide 9: Digital Transformation Gaining Share

     Digital Transformation Gaining Share Transactions (Tx) Transactions 1Q25 Branches 1.5% 1,400 1,300 WEB (millions) 1,200 9% POS 1,000 21% Correspondents 0.2% 800 Call Center 0.4% 600 9% ATM 400 27% y/y 59% Mobile 200 - 1Q 3Q 1Q 3Q 1Q 3Q 1Q 3Q 1Q 3Q 1Q 2020 2021 2022 2023 2024 2025 Customers Using D

  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) Credit Cards Rappi JV POS Transactions 13% 15-year commercial agreement y/y 500 The best DIGITAL PLATFORM for aggregators Digital Physical 231 400 192 300 192 176 200 272 218 251 100 174 0 1Q22 2Q22 3Q22 1Q2

  11. Slide 11: Results

    GRUPO FINANCIERO BANORTE

  12. Slide 12: Bank Net Interest Margin

     Bank Net Interest Margin NIM 7.0% 6.8% 6.5% 6.5% 6.5% 6.3% 6.4% 6.5% 6.3% 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 1Q24 2Q24 3Q24 4Q24 1Q25 Previous criteria IFRS NIM (Post-Provision) 6.0% 5.5% 5.5%

  13. Slide 13: Improving Efficiency

     Improving Efficiency Cost to Income Previous Criteria IFRS 55.2% 53.7% 50.5% 50.9% 52.0% 47.5% 48.2% 47.0% 45.0% 45.0% 44.9% 41.4% 42.3% 42.0% 45.3% 36.1% 37.6% 37.0% 40.4% 38.4% 32.0% 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 1Q24 2Q24 3Q24 4Q24 1Q25 Revenues & Expenses Million

  14. Slide 14: Strong Net Income

     Strong Net Income Net Income Million Pesos 50,000 7% YoY 7% YoY 44,854 13,000 45,000 CAGR 41,946 2014-2023 40,000 12,000 +14% 11,227 35,000 10,894 11,000 34,549 10,474 27,493 26,086 30,000 26,086 10,000 24,834 25,548 25,000 * w/o advanced 26,289 provisions 9,000 18,339 23,158 20,000 * Recurring 15

  15. Slide 15: Constant Positive growth in Profitability

     Constant Positive growth in Profitability 3.0% ROA 2.5% 2.5% 2.4% 2.4% 2.4% 2.4% 2.5% 2.3% 2.1% 2.02% 2.0% 1.8% 2.2% 1.6% 1.6% 1.4% 1.4% 1.5% 1.5% 1.7% 1.6% 1.0% 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1Q24 2Q24 3Q24 4Q24 1Q25 Previous Criteria IFRS Recurring 35.0% ROE 29.

  16. Slide 16: Loans & Deposits

    Loans & Deposits

  17. Slide 17: Healthy Funding & Loan Portfolio Structure

     Healthy Funding & Loan Portfolio Structure Billion Pesos $1,205 bn 2020 1Q25 Funding $855 bn US 59.0 bn Interbank Money Interbank Money Loans Loans Market Market 4% 1% Time 30% Time Demand 66% Demand Loan Portfolio $1,160 bn $783 bn US 56.7 bn Consumer Consumer Government 18% 15% Government Mortga

  18. Slide 18: Loyal Deposits Base

     Loyal Deposits Base Deposits CAGR 2013-2023 YoY Billion Pesos +10% 1,123 1,059 1,059 1,100 962 996 13% Core Deposits* Time Demand 840 900 751 750 750 796 744 705 744 637 667 689 13% 700 590 623 509 551 533 538 538 436 414 438 500 384 384 397 336 351 316 316 328 300 273 291 300 255 223 229 211 211

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

     Continued Growth in Performing Loan Book, Special Focus on Consumer US 56.7 bn US 23.9 bn Total Loan Portfolio Consumer Portfolio 550 488 477 463 477 1,160 500 1,300 1,151 1,151 1,200 1,094 450 371 1,100 400 12% YoY 897 322 323 1,000 350 304 286 900 803 803 267 756 744 783 13% YoY 300 237 800 250

  20. Slide 20: Sound Asset Quality

     Sound Asset Quality Non-Performing Loan Ratio 3.07% 2.91% 3.00% Previous Criteria IFRS 2.50% 2.23% 2.00% 1.84% 1.67% 1.64% 1.50% 1.08% 1.01% 0.97% 0.89% 0.96% 0.94% 0.91% 0.90% 1.00% 0.89% 0.98% 0.50% 2012 2013 2014 2015 2018 2019 2020 2021 2022 2023 1Q24 2Q24 3Q24 4Q24 1Q25 1Q24 2Q24 3Q24 4Q24 1Q

  21. Slide 21: Sound Asset Quality

     Sound Asset Quality Coverage Ratio 250% 227% 217% 186% 186% 182% 186% 190% 200% 142% 201% 139% 150% 128% 138% 103% 106% 115% 100% Previous Criteria IFRS 50% 0% 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2024 1Q24 2Q24 3Q24 4Q24 1Q25 Cost of Risk 2.8% 3.0% 2.2% 2.5% 2.0% 2.3% 1.4% 2.0% 1.5%

  22. Slide 22: Healthy Liquidity

     Healthy Liquidity Loans to Deposits 105% 101% 100% 98% 95% 95% 90% 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 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2017 2018 2019 2020 2021 2022 2023 2024 2025 Liquidity Coverage Ratio - LCR 230% 210% 183% 190% 178% 164% 170% 150% 130% 110% 90% 70

  23. Slide 23: Strong Capital Position

     Strong Capital Position Capital Adequacy Ratio Basel III 24.7% 22.8% 22.9% 21.8% 0.2% 20.7% 21.3% Tier 2 TLAC 20.2% 20.2% 19.2% to 2025 18.5% 17.90% 17.3% 17.2% 8.3% 15.3% 15.3% 16.275% 14.6% Total +4.875% Tier 1 TLAC 4Q24 22.7% 11.40% 9.40% 15.3% 15.1% 14.7% 15.5% CET1 7.90% 13.9% 14.1% 13.9% 13.

  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, 2025) Agency Rating Outlook Date Net Income 2025 $60,039 Target Price $181.25 Standard & Poor’s BBB Stable Aug-24 Maximum $230.0 Number of Analysts 21 Fitch BBB- Stable Nov-24 # BU

  25. Slide 25: Appendix

    Appendix BANORTE

  26. Slide 26: Quarterly Summary

     Quarterly Summary Estado de resultado integral con subsidiarias y Estado de situación financiera con subsidiarias- Var. Vs. Banorte 1Q24 4Q24 1Q25 (Millones de Pesos) 3M24 Ingresos de Intereses Netos (1) 26,087 28,930 28,525 9% Ingresos No Financieros (1) 4,384 4,683 5,090 16% Ingreso Total 30,471

  27. Slide 27: Quarterly Summary

     Quarterly Summary Indicadores Financieros Banorte 1Q24 4Q24 1Q25 Rentabilidad: MIN (1) 6.3% 6.8% 6.5% MIN ajustado por Riesgos Crediticios (2) 5.1% 5.5% 5.3% ROE (3) 26.2% 27.8% 28.0% ROA (4) 2.4% 2.4% 2.4% Operación: Índice de Eficiencia (5) 36.3% 44.9% 37.6% Infrastructure 1T24 4T24 1T25 Índice

  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.

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