Banca Mediolanum Spa · MIL:BMED
Banca Mediolanum Spa — Debt Investor Presentation (September 2025)
32 slides from Banca Mediolanum Spa's debt investor presentation, September 2025
Slide 1: Fixed Income Investor Presentation – Credit Update September 2025
Fixed Income Investor Presentation Credit Update - September 2025
Slide 2: Executive Summary (1/2)
Executive Summary (1/2) Q1 2023 2 Group Credit Update ● The holistic advisory, combining traditional (Family Bankers) and technological channels (Multi-channel Distribution) is able to fulfill clients’ financial needs at 360° (Banking, Insurance and Investing Products, all vertically integrated) ● T
Slide 3: Executive Summary (2/2)
3 Executive Summary (2/2) FY 2022 Credit Update Group ● The Group’s capital level strongly exceeds minimum regulatory requirements: CET1 at 22.4% (buffer vs CET1 SREP - including guidance - is more than 1,344 bps) | Leverage Ratio at 8.4% Regulatory Capital ● Banca Mediolanum is already compliant wi
Slide 4: Agenda
Q1 2023 4 Agenda Group 1 Banca Mediolanum at a Glance 2 Balance Sheet Overview 3 Regulatory Capital and MREL 4 Credit Ratings & ESG Bond Issuance
Slide 5: Banca Mediolanum at a Glance
5 Banca Mediolanum at a Glance Mediolanum H1 2025 Facts ● Italian Asset Gatherer addressing Italian & Spanish retail markets ● Vertically integrated to fully control the value chain (manufacturer & distributor) ● Offering the entire range of financial services to customers (banking, investing, insur
Slide 6: Products, Producers and Distributors
Q1 2023 6 Products, Producers and Distributors Group Products Description Producers Distributors Banking and consumer products, to Banca Mediolanum S.p.A., support client needs: current accounts, Banking and Consumer Banco Mediolanum S.p.A., credit/debit cards, lending/mortgages, Prexta S.p.A. consu
Slide 7: History and Evolution of the Group
Q1 2023 7 History and Evolution of the Group Group 40 years of successes 2022 Banca Mediolanum 1. Obtained inaugural credit ratings at BBB by 1982 2013 2017 2020 both S&P and Fitch 1996 2006 2. Established an EMTN Ennio Doris 1998 2001 Mediolanum Banca Mediolanum Change from founds Banca Mediolanum
Slide 8: Italian Household Financial Assets
8 Italian Household Financial Assets Over the last few years asset gatherers have increased market share to the detriment of traditional banks Total HH Assets as at Dec. ‘24: € 5.98 trillion 0.00 73% 38.00 9.00 60% Asset gatherers growing mainly thanks to: 8.00 20% 28.00 BMED ● Demand for specialise
Slide 9: Economic & Financial Highlights
H1 2025 9 Economic & Financial Highlights Group Resilient and disciplined delivery of strong financial results € mn H1 2025 H1 2024 Change Strong progression in fees driven by extremely robust inflows into Net Commission Income 644.4 588.1 +10% managed assets Net Interest Income 366.8 418.0 -12% NII
Slide 10: Focus on Contribution Margin
10 Focus on Contribution Margin Q1 2023 € mn Group Contribution Margin By Business Line % H125 1,364 1,767 1,977 1,021 Asset Net Interest Income 1.9% Management Net Commision Income 7.5% Other Insurance 27.1% 811 752 Banking 407 32.4% 367 Other 1,029 1,168 975 30.8% 644 Spain 2022 2023 2024 H1 2025
Slide 11: Business Results Highlights
H1 2025 11 Business Results Highlights Group Consistency in execution, excellence in outcomes € bn H1 2025 H1 2024 Change FY 2024 Change Extremely strong start of the year, with substantial growth in net Total Net Inflows 6.11 5.66 +8% new money. Strong contribution once again from both new & existi
Slide 12: Agenda
Q1 2023 12 Agenda Group 1 Banca Mediolanum at a Glance 2 Balance Sheet Overview 3 Regulatory Capital and MREL 4 Credit Ratings & ESG Bond Issuance
Slide 13: Balance Sheet Structure – Banking Group
H1 2025 13 Balance Sheet Structure – Banking Group Group Straight-forward & solid balance sheet structure as at H125 € mn 40,364 40,364 Cash 391 • Current account mandatory for all • High quality book: CoR at 15 bps Loans to customers • Mainly retail & collateralised customers 18,137 • Stable source
Slide 14: Banking Book Composition
Mediolanum 14 Banking Book Composition Facts € bn – nominal value – as at 30/06/2025 Banking Book: € 15.7 bn (nom. values) Rate Type Sector % Fixed Government 98.0% Financial 2.0% Floating 68.8% 31.2% Govies % Italy 71.7% Spain 14.0% Other EU Countries 14.3% Portfolio Portfolio 3.5 HTC 2.3 99.9% 0.1
Slide 15: Funding Overview
Q1 2023 15 Funding Overview Group Other 01% 01% 01% 01% 0.8% 0.8% 0.8% 0.9% Debt Securities 18.1% 10.3% 25.3% 22.9% Funding mix, % 9.9% 5.7% 9.5% Repo 0.5% Time Deposits 72.2% 69.5% 70.5% 77.8% Customer Deposits 2022 2023 2024 H1 2025 € mn 2022 2023 2024 H1 2025 Total Funding 36.823 35.690 36.121 34
Slide 16: Credit Book Trend
Credit Book Trend H1 2025 16 Group € mn Salary-Backed Loans (Prexta) 17.6 18.1 Lines of Credit 16.4 17.0 Personal Loans 10y CAGR 12% 14.4 Mortgages 12.1 10.4 8.9 7.8 6.5 7.1 5.6 4.8 4.1 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 H1 2025
Slide 17: Asset Quality (1/3)
17 Asset Quality Q1 2023 Group asset quality overview (1/3) Group Net NPE Ratio Subprime ● Non-material Mortgages exposure to 1.40% Sovereign commercial Debt Default Inflation & Interest Italian Banks loans rates Rise 1.20% 1.15% Covid-19 ● Stable NPE 0.99% Ratios even in 1.00% 0.90% 0.86% 0.83% 0.8
Slide 18: Asset Quality (2/3)
18 Asset Quality Q1 2023 Group asset quality overview (2/3) Group Group Asset Quality evolution ● Best in class asset quality, far better than Italian banking system 1.45% 1.47% 1.45% 1.35% ● Constant ratios over the 1.28% years 1.18% ● Have never done an 0.79% 0.79% NPL disposal 0.74% 0.76% 0.68% 0
Slide 19: Asset Quality (3/3)
19 Asset Quality Q1 2023 Group asset quality overview (3/3) Group Group Asset Quality evolution ● Limited non-performing exposures 3.00% 60% 52% ● Best-in-class Gross NPE 47% 47% 48% ratio, above European 2.50% 46% 46% 50% average 2.00% 40% 1.45% 1.47% 1.45% 1.50% 1.35% 1.28% 30% 1.18% 0.26% 0.26% 0
Slide 20: Agenda
20 Agenda 1 Banca Mediolanum at a Glance 2 Balance Sheet Overview 3 Regulatory Capital and MREL 4 Credit Ratings & ESG Bond Issuance
Slide 21: Capital Adequacy & Balance Sheet Highlights
H1 2025 21 Capital Adequacy & Balance Sheet Highlights Group Simple & solid balance sheet structure, strong capital generation H1 2025 0 FY 2024 CET1 Ratio remained extremely robust after implementation of final terms CET1 Ratio 22.4% 23.7% of Basel III MREL TREA 24.4% 25.9% Well above the 21.4% req
Slide 22: Regulatory Requirements
FY 2022 22 Regulatory Requirements Group SREP Capital Requirements and MDA ● Banca Mediolanum’s capital level strongly exceeds minimum regulatory requirements 13.16% +928 bps T2 2.38% ● As of June 2025, the buffer versus +1,344 bps 22.43% CET1 CET1 SREP (including guidance) is AT1 1.78% 1.344 bps P2
Slide 23: Current MREL Position
23 Current MREL Position Current buffer over TREA based requirement of € 469 mn (3.05% H125 RWAs) and over LRE based requirement of € 1.300 mn (3.15% H125 Leverage Exposure) MREL Requirement TREA, % MREL Requirement LRE, % % on TREA H125 % on LRE h125 MREL Surplus MREL Req. SP effect CET1/TC MREL Su
Slide 24: Agenda
24 Agenda 1 Banca Mediolanum at a Glance 2 Balance Sheet Overview 3 Regulatory Capital and MREL 4 Credit Ratings and ESG Bond Issuance
Slide 25: Credit Ratings
FY 2022 25 Credit Ratings Group ● Mediolanum’s Ratings are consistent with those of the Republic of Italy and the National Champions operating in the banking space ● The two agencies highlight BMED's strengths in their rating reports: business model, capitalization and low credit risk Long-Term Issu
Slide 26: €300m Inaugural Green Senior Preferred
FY 2022 26 € 300m Inaugural Green Senior Preferred Group Terms & Conditions Breakdown by geography November 2022 Issuer: Banca Mediolanum S.p.A. Issuer Rating (S/F): BBB/BBB (stable/stable) Expected Issue Rating (S/F): BBB/BBB UK & Ireland Switzerland Others Type: Senior Preferred 3% Iberia 2% Size:
Slide 27: Green, Social and Sustainability Bond Framework
FY 2022 27 Green, Social and Sustainability Bond Framework Group ● With the release of its Green, Social and Sustainability Bond Framework (the “GSS Framework”), Mediolanum equips itself with a sustainable financing tool that acknowledges the pivotal role financial markets play in tackling climate c
Slide 28: 2024 Green Loan Portfolio
2024 28 Green Loan Portfolio GSS Bond Report Banca Mediolanum Mortgage Book financing green buildings in Italy equals to 1,395.83 million as at September 30, 2024. Green Asset Nr. Average Portfolio Mutui Tenor € 1,395.83 mn 9,280 22.4 years
Slide 29: Green Loan Portfolio
2024 29 Green Loan Portfolio GSS Bond Report In order to be labeled green, the financed buildings have been evaluated following the ‘substantial contribution to climate change mitigation’, as defined by the EU Taxonomy1, namely: Buildings built before 2021 After 2021 Class A Energy Performance Top 1
Slide 30: Allocation Report 2024
30 Allocation Report 2024 GSS Bond Report GSS Bond Proceeds 300 € mn Overall Green Portfolio – Outstanding amount 1,395.83 € mn Eligible Green Portfolio as defined in the GSS Bond Framework1 – Outstanding amount 751.70 € mn Proceeds allocated to Green Loans 100% 1. Only Green Loans granted from Janu
Slide 31: 2024 Impact Report – Overall Portfolio
2024 31 Impact Report – Overall Portfolio GSS Bond Report Green Portfolio – Outstanding amount 1,395.83 € mn Avoided Emissions 18,040 t CO eq/year 2 Positive Carbon Impact 12.92 t CO eq per € mn/year 2 Energy Saving 93,276 MWh Square meters 1,188,537 m 2
Slide 32: Disclaimer
32 Disclaimer This document has been prepared by Banca Mediolanum S.p.A. for the sole purpose of providing information and presenting the Group’s strategies. The information, opinions, valuations and forecasts it contains have not been audited by any independent body; they may be altered at any time
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