Alpha Bank S.a. · ATHEX:ALPHA
Alpha Bank — Q2 2026 Earnings Presentation
85 slides from Alpha Bank's earnings presentation, Jul 31, 2026
Slide 1: Alpha Bank Q2 2026 Results
Alpha Bank Q2 2026 Results Investor presentation 31st July 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 12 Macroeconomic Update Macroeconomic Update 20 Alpha Bank PL P&L 22 Balance Sheet Balance Sheet 35 Asset Quality Asset Quality 47 Capital Capital 53 Segmental Information Segmental Information 59 Recent MA Recent M&A 65 Digital Dig
Slide 4: H1 2026 results
H1 2026 results H1 2026 Group Results Return on Tangible Equity1 Reported Profit After Tax €497mn (5%) 14.0% or 12.0% reported Set strong profitability foundation Normalised Profit After Tax €495mn +6% y/y Net Interest Income €853mn +7% y/y Earnings Per Share2 Resilient Top line & Growth in Fees Fee
Slide 5: We have upgraded Wholesale Banking into a holistic coverage platform
We have upgraded Wholesale Banking into a holistic coverage platform Lending From Transaction Banking Lending led One coverage model corporate bank Trade Finance > One client wallet To Investment Banking & Capital Markets Universal Multiple revenue Business Bank Treasury streams International soluti
Slide 6: Transaction Banking: Increasing product density and share of wallet
Transaction Banking: Increasing product density and share of wallet Transaction Banking revenue (4 quarter rolling) • Expanded transaction banking product suite across payments, FX and trade finance, strengthening our ability to capture clients' +38% operating flows 40 • Re-engineered coverage model
Slide 7: Investment Banking: AXIA transforms our corporate franchise
Investment Banking: AXIA transforms our corporate franchise Specialized Investment Banking capabilities translating into client relevance, international distribution and capital-light fee income • Stronger client coverage: expands Alpha’s ability to serve Greek corporates, international issuers and
Slide 8: UniCredit expands the platform beyond Greece
UniCredit expands the platform beyond Greece c €100m c €250m > 60 Trade finance in H1 Joint financing in H1 Total cross-country referrals Cross-border coverage Product depth Joint opportunities • Access to a pan-European network of 13 • Trade finance guarantees and Letter of Credit • Joint UC/AB cli
Slide 9: In 2026 we are going to increase EPS by 13%
In 2026 we are going to increase EPS by 13% EPS1 € +13% Investor Day 0.41 ▪ 13% 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 November completed M&A to further boo
Slide 10: Structural advantages accelerating earnings growth
Structural advantages accelerating earnings growth Alpha Bank’s structural advantages Outlook • Significant investment in corporate solutions bearing fruit Comprehensive coverage • Accelerating growth in transaction banking and IB of corporate clients… • Further upside from franchise positioning …su
Slide 11: Significant potential to create and return value to shareholders
Significant potential to create and return value to shareholders 1 Organic RWA expansion in wholesale and retail segments in Greece and Cyprus Organic growth 2 Increasing ordinary payout over 2025-2027 Ordinary payout Capital allocation A Share buybacks & extraordinary dividends framework 3 B Bolt-o
Slide 12: Pages
Pages Business Update Business Update 3 Financial Performance 12 Macroeconomic Update Macroeconomic Update 20 Alpha Bank PL P&L 22 Balance Sheet Balance Sheet 35 Asset Quality Asset Quality 47 Capital Capital 53 Segmental Information Segmental Information 59 Recent MA Recent M&A 65 Digital Digital 7
Slide 13: Group Profit & Loss Summary
Group Profit & Loss Summary Profit & Loss (€ mn) H1 2025 H1 2026 Δ% Q1 2026 Q2 2026 Δ% Net Interest Income 795 853 7% 416 436 5% Fee services income 244 326 34% 140 187 34% Trading & Other Income 70 35 (50%) 31 4 (87%) Operating Income 1,108 1,214 10% 587 627 7% Total Operating Expenses (412) (470)
Slide 14: Q2 26 Group Profit and Loss
Q2 26 Group Profit and Loss +7% Group, € mn 627 558 583 587 Q2 y/y Operating income 520 ▪ Net interest income +4.8% q/q on higher volumes and rates Operating Income +12% ▪ Fee services income +5.3% q/q excluding Prodea dividend +5% Operating expenses Operating Expenses +14% ▪ Costs +5.1% q/q driven
Slide 15: Q2 26 Group Balance Sheet
Q2 26 Group Balance Sheet +5% Group, € bn 39.9 37.5 38.2 Q2 y/y Performing loans 34.9 35.7 ▪ €1.6bn net credit expansion in Q2 Performing loans1 +14% ▪ Growth driven by corporates outside RRF perimeter +7% Customer funds 87.6 82.0 ▪ Deposits up €3.1bn in the quarter driven by corporates 74.2 77.5 71
Slide 16: Net interest income and Fees
Net interest income and Fees Interest Income / Interest Expense breakdown Fee services income Including Group, € mn Group, € mn €40mn Prodea dividend 436 187 399 413 416 402 38 135 136 140 122 35 32 41 41 433 6 Loans PE 417 417 417 33 410 28 36 37 38 5 32 5 3 7 42 46 32 32 36 14 10 4 2 26 Bonds 110
Slide 17: Performing loans and Customer Funds
Performing loans and Customer Funds Performing loan book expansion Customer Funds evolution Group, € bn Group, € bn YoY +22% +7% +14% +5% 2.0 87.6 3.1 0.6 +2% 39.9 82.0 +5% 38.2 2.7 57% +2% 37.5 2.7 71.6 29.1 35.7 2.6 34.9 1.8 26.6 7.2 (1%) 1.7 7.2 AuMs 20.3 7.2 7.3 7.3 30.0 +16% 26.6 27.7 28.3 51.3
Slide 18: Asset quality
Asset quality NPE ratio 3.5% 3.6% 3.6% 3.7% 3.6% Group % NPE ratio at 3.6% stable year on year 58 Cost of Risk 39 44 10 44 39 Cost of Risk at 39bp 8 8 7 Group, bps 11 10 8 6 8 Servicing fees reflecting benign 12 Securitization expenses 26 40 29 26 environment 16 Underlying NPE coverage 57% 58% Group
Slide 19: H1 26 evolution in Capital
H1 26 evolution in Capital CET1 % 0.4% 1.5% (0.2%) (0.9%) (0.1%) (0.2%) 0.7% Organic Capital Generation (0.5%) 15.4% 15.4% 14.3% Dec-25 H1 26 Organic DTA DTC RWAs AT1 other capital Transactions & Jun-26 Jun-26 post capital elements one-offs dividend accrual RWAs €bn 32.5 34.8 19
Slide 20: Pages
Pages Business Update Business Update 3 Financial Performance Financial Performance 12 Macroeconomic Update 20 Alpha Bank PL P&L 22 Balance Sheet Balance Sheet 35 Asset Quality Asset Quality 47 Capital Capital 53 Segmental Information Segmental Information 59 Recent MA Recent M&A 65 Digital Digital
Slide 21: Rising geopolitical risk fuels inflationary pressures via energy markets
Rising geopolitical risk fuels inflationary pressures via energy markets Geopolitical shocks add renewed momentum to inflation Energy costs put upward pressures on HICP 25 60 350 50 20 (annual % changes) 300 40 15 250 30 200 10 20 10 150 5 0 0 100 -10 50 -5 -20 -30 0 -10 Jul-25 Jan-24 Mar-24 May-24
Slide 22: Pages
Pages Business Update Business Update 3 Financial Performance Financial Performance 12 Macroeconomic Update Macroeconomic Update 20 Alpha Bank P&L 22 Balance Sheet Balance Sheet 35 Asset Quality Asset Quality 47 Capital Capital 53 Segmental Information Segmental Information 59 Recent MA Recent M&A 6
Slide 23: Group Profit & Loss Summary
Group Profit & Loss Summary Profit & Loss H1 H1 yoy % Q2 Q1 qoq % Reported Profit After Tax (€ mn) 2026 2025 change 2026 2026 change +4% +74% Net Interest Income 853 795 7% 436 416 5% €304mn €316mn Fee services income 326 244 34% 187 140 34% €237mn Trading & Other Income 35 70 (50%) 4 31 (87%) €184m
Slide 24: Profit & Loss - Detailed
Profit & Loss - Detailed qoq% yoy% (€ mn) Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 change change Net Interest Income 399.3 402.2 413.3 416.3 436.4 4.8% 9.3% Fee services income 135.3 121.5 136.1 139.7 186.7 33.6% 38.0% Income from financial operations 7.1 (8.0) 14.2 26.3 (14.9) … … Other income 16.4
Slide 25: Main P&L items
Main P&L items Net Interest Income1 Fee services income Group, € mn Group, € mn 436 187 413 416 135 136 140 399 402 122 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Recurring operating expenses Cost of Risk2 Group, € mn €mn & bps over net loans 58bps 233 240 228 44bps 44bps 39bps 39bp
Slide 26: Net Interest Income driver headlines
Net Interest Income driver headlines Performing loan spreads3 Individuals Deposit costs Greece, % Business Deposit beta1 Greece, % 24% 22% 21% 20% 20% 3.01% 2.98% 2.98% 2.97% 2.94% Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Term Deposit pass-through2 EUR, % 70 65% 65% 64% 63% 64% 2.47% 60 2.39% 50 2.32% 40 2.27%
Slide 27: Loan and deposit spreads
Loan and deposit spreads Net loan balances & spreads Deposit mix & cost evolution € bn bps, € bn 190 170 174 180 198 256 250 245 241 238 300 % Total 55.1 55.4 58.5 51.3 52.9 45.9 200 14.4 14.9 15.3 16.7 41.0 41.7 43.5 44.1 13.7 29% 100 37.6 38.5 40.2 40.1 41.8 71% End of quarter balances 0 Q2 25 Q3
Slide 28: Sensitivity to interest rates
Sensitivity to interest rates Balance Sheet structure as of Q1 2026 Balance Sheet structure as of Q2 2026 40.1 32.3 41.9 34.0 Securities 13% Securities 13% Due from banks 4% Due from banks 5% 46% Time Deposits 50% Time Deposits Loans 75% 23% Hedging Loans 75% Hedging 24% 9% Debt issued Debt issued 9
Slide 29: Fee services income
Fee services income € mn € mn Group Segments 187 187 38 34 135 136 140 135 136 140 122 35 122 32 41 28 32 59 41 43 6 33 36 28 36 38 48 52 5 32 37 41 41 42 5 3 7 42 46 8 32 32 33 42 43 36 14 36 46 10 4 5 2 18 26 1 7 14 14 14 14 2 0 5 10 4 1 8 (1) (1) Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Q2 25 Q3 25 Q4 25 Q1
Slide 30: Euromoney Awards
Year to date investment banking transaction activity Euromoney Awards Co-advised with UniCredit 30
Slide 31: Costs
Costs € mn € mn Group Segments Cost-Income 38% 41% 40% 39% 38% ratio 240 233 240 233 228 228 212 211 212 211 102 104 102 117 100 108 99 100 97 94 51 53 54 97 85 85 49 50 17 18 17 82 87 15 16 32 32 35 21 23 33 35 35 38 12 12 12 13 30 12 16 10 18 14 17 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Q2 25 Q3 25 Q4 25 Q
Slide 32: Operating Expenses
Operating Expenses Group, € mn Q2 26 Q2 25 yoy % Q2 26 Q1 26 qoq % Recurring Operating Expenses evolution €mn Staff costs (117.1) (97.0) 20.6% (117.1) (107.9) 8.5% 233 228 240 General Administrative (84.8) (81.6) 3.9% (84.8) (85.5) (0.8%) 212 211 expenses Depreciation and 102 108 117 Staff costs (37
Slide 33: Reported to Normalised
Reported to Normalised Profit & Loss (€ mn) Bridge between reported and normalised profit Q2 2026 Published Delta Normalised Net Interest Income 436 0 436 Fee services income 187 (46) 141 Trading income (15) 0 (15) Other income 19 46 64 Operating Income 627 627 Staff costs (117) 0 (117) General Admi
Slide 34: Reported to Normalised
Reported to Normalised Bridge between Reported and Normalised Profit - Quarterly (€ mn) Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Reported Profit/ (Loss) after income tax 191 195 121 213 111 171 158 218 304 184 237 182 316 Net Interest In
Slide 35: Pages
Pages Business Update Business Update 3 Financial Performance Financial Performance 12 Macroeconomic Update Macroeconomic Update 20 Alpha Bank PL P&L 22 Balance Sheet 35 Asset Quality Asset Quality 47 Capital Capital 53 Segmental Information Segmental Information 59 Recent MA Recent M&A 65 Digital D
Slide 36: Q2 2026 Group Balance Sheet Summary
Q2 2026 Group Balance Sheet Summary Balance Sheet Tangible Book Value Jun 2026 Mar 2026 Jun 2025 q/q (€ bn) Group, € bn +3% +2% Total Assets 82.0 79.3 73.5 2.7 7.8 Securities 19.3 18.2 17.2 1.1 7.7 7.6 7.6 Cash & Cash Balances 3.9 4.3 3.1 (0.4) 7.5 Net Loans 45.9 44.1 41.0 1.7 Q2 25 Q3 25 Q4 25 Q1 2
Slide 37: Balance sheet composition
Balance sheet composition Asset split Liabilities and Equity split € bn 82.0 € bn 79.3 82.0 79.3 Cash 4.3 Cash 3.9 2.8 ECB 2.7 ECB Due from Banks 2.6 4.7 Due to Banks 3.6 Due to Banks Due from Banks 2.5 15.3 Time Deposits 16.7 Time Deposits Securities 18.2 Securities 19.3 55.4 58.5 40.1 Core Deposit
Slide 38: Business Volumes
Business Volumes (€ mn) Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026 % YoY Group Gross Loans 41,687 42,361 44,181 44,820 46,574 11.7% Mortgages 6,744 6,767 6,972 6,967 6,966 3.3% Consumer Loans 1,217 1,233 1,315 1,337 1,329 9.3% Credit Cards 942 950 1,017 983 1,020 8.2% Small Business Loans 1,831 1,
Slide 39: Net Credit Expansion trends
Net Credit Expansion trends Net credit expansion Individuals Businesses Greece, € bn 2.0 1.3 0.2 0.3 1.6 0.3 0.5 Disbursements 0.7 0.1 0.9 0.2 0.6 0.2 0.2 3.9 0.1 3.9 3.5 0.2 2.9 2.8 3.0 1.9 2.4 2.6 (1.9) (1.7) (1.9) (1.7) (1.7) (2.1) (2.0) Repayments (2.8) (2.5) (0.2) (0.2) (0.2) (0.1) (0.2) (0.2)
Slide 40: Net credit expansion breakdown
Net credit expansion breakdown Performing loans New disbursements – per category Greece, € bn Greece, € mn Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Beginning of period 32.5 32.9 33.2 33.9 35.0 35.5 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Disbursements 2.5 2.8 3.0 4.2 3.2 3.8 Individuals 162
Slide 41: Loan portfolio breakdown
Loan portfolio breakdown Information Total Group loans – per segment Group Loans portfolio structure1 and € bn € bn Households communication Consumer loans Credit Cards 3% 20% 1% 2% Small Business Loans Financial and insurance activities Administrative 4% 19% and Mortgages support 15% Transportation
Slide 42: Securities portfolio
Securities portfolio Securities portfolio Group, Book value, Jun-26, € bn ▪ The “Other/ECB eligible” bonds of €10.3bn is broken down to the following T-bills Mutual Funds & Equities categories: 0.5 0.5 o/w 16.9bn • €6.3bn other sovereign bonds HQLAs • €1.2bn bonds issued by supranationals GGBs 19.3b
Slide 43: Customer Funds trends
Customer Funds trends Customer Funds evolution Deposit Mix Group, € bn Greece, € bn +22% +7% 52.3 2.0 87.6 49.1 48.9 49.2 2% 3.1 0.6 47.4 82.0 1% 1% 2% State 1% 24% 71.6 24% 23% 23% 29.1 Time 23% 26.6 AUMS 20.3 75% 76% 75% 74% Core 76% 55.4 58.5 Deposits 51.3 Jun 2025 Mar 2026 Deposits Net Sales Val
Slide 44: Deposits flow per quarter
Deposits flow per quarter Alpha Bank deposits evolution in Greece Deposits breakdown – June 2026 Greece, € bn Q3: Q4: Q1: Q2: €1.7bn (€0.2bn) €0.3bn €3.0bn Time 1.6 1.4 52.3 0.8 49.1 0.4 48.9 0.3 49.2 26% 47.4 0.9 (0.6) (0.0) Δ Core Δ Time 74% Core Jun-25 Core Time Sep-25 Core Time Dec-25 Core Time
Slide 45: ECB Balances and Liquidity metrics
ECB Balances and Liquidity metrics ECB balances Group LCR & LDR Group, € bn % 17% 17% 12% 7% 7% 5% 5% 3% 4% 4% 3% 3% 3% 4% 3% % over 194% 194% 195% 197% Total 184% Assets 176% 13.0 ECB Collateral pledged ▪ Credit claims LCR ▪ Other bonds LDR 9.0 80% 80% 79% 79% 80% 78% 12.6 5.0 5.0 5.0 11.6 4.0 4.0
Slide 46: Funds under management
Funds under management Asset Management balances Private Banking Group, € bn Group, € bn 9.7 29.1 10.3 0.3 Money Market 9.0 9.0 26.6 3.2 3rd-party 8.5 8.1 2.6 22.4 10.3 2.3 2.5 21.3 6.8 Alpha Asset 2.1 9.2 Management 1.9 20.3 9.3 3.0 2.9 8.9 2.7 8.3 2.9 0% Mkt 2.7 2.4 2.6 MM Share 18% Equity 2% 2.8
Slide 47: Pages
Pages Business Update Business Update 3 Financial Performance Financial Performance 12 Macroeconomic Update Macroeconomic Update 20 Alpha Bank PL P&L 22 Balance Sheet Balance Sheet 35 Asset Quality 47 Capital Capital 53 Segmental Information Segmental Information 59 Recent MA Recent M&A 65 Digital D
Slide 48: NPE flows and Cost of Risk trends
NPE flows and Cost of Risk trends NPE 0.1 0.1 0.0 0.1 0.0 Cost of Risk formation bps (over net loans) Greece, € bn 58 10 44 44 8 0.20 0.20 39 7 39 0.18 8 0.17 0.15 Inflows 8 11 8 10 6 12 40 29 26 26 (0.10) (0.09) (0.10) Cures & (0.11) (0.11) 16 repayments (0.02) Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 (0.02)
Slide 49: 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 334 320 170 70 84 76 58 105 30 80 7 (10) (25) (5) (16) (14) (11) (38) (155) (284) (254) (353) 2020 2021 2022 2023 2024 2025 Q2 Q3 Q4 Q1 Q2 2020 2021 20
Slide 50: Auctions and repossession activity evolution
Auctions and repossession activity evolution Auctioned properties (Conducted) 2Q2026 1.729 1.344 749 653 ▪ The auction activity continues to exhibit a downward trend. During 2Q2026, the volume of conducted auctions remained low, which is 236 199 reasonable, given the historically low levels of aucti
Slide 51: Detailed overview of asset quality by portfolio - Greece
Detailed overview of asset quality by portfolio - Greece (€ bn) Wholesale SBL Mortgages Consumer Total Gross loans 33.5 1.9 6.0 2.2 43.7 (-) Accumulated Provisions (0.2) (0.2) (0.3) (0.2) (0.8) Net loans 33.4 1.7 5.7 2.1 42.9 NPLs 0.1 0.2 0.5 0.2 1.0 NPL ratio 0.3% 12.7% 8.7% 6.9% 2.4% NPEs 0.2 0.3
Slide 52: Detailed overview of asset quality by portfolio - Group
Detailed overview of asset quality by portfolio - Group (€ bn) Wholesale SBL Mortgages Consumer Total Gross loans 35.3 2.0 7.0 2.3 46.6 (-) Accumulated Provisions (0.2) (0.2) (0.4) (0.2) (0.9) Net loans 35.1 1.8 6.6 2.2 45.6 NPLs 0.1 0.2 0.6 0.2 1.1 NPL ratio 0.4% 12.7% 8.5% 7.2% 2.5% NPEs 0.2 0.3 0
Slide 53: Pages
Pages Business Update Business Update 3 Financial Performance Financial Performance 12 Macroeconomic Update Macroeconomic Update 20 Alpha Bank PL P&L 22 Balance Sheet Balance Sheet 35 Asset Quality Asset Quality 47 Capital 53 Segmental Information Segmental Information 59 Recent MA Recent M&A 65 Dig
Slide 54: H1 26 evolution in Capital
H1 26 evolution in Capital CET1 q/q % 1.5% 0.4% (0.2%) (0.9%) (0.1%) (0.2%) (0.5%) 15.4% 0.7% Organic Capital Generation 15.4% 14.3% Dec-25 H1 26 Organic DTA DTC RWAs AT1 other capital Transactions & Jun-26 Jun-26 post capital elements one-offs dividend accrual RWAs q/q % €1.30bn 33.5 1.2 0.1 0.0 34
Slide 55: Actuals and regulatory requirements
Actuals and regulatory requirements 29.3% 27.5% 19.3% 16.4% 14.8% 14.3% 0.7% 29.3% 12.1% 2.0% 27.5% 10.1% 0.5% CCyB 1.5% 0.4% 19.3% P2R 1.6% 16.4% 1.0% 14.3% O-S II 2.5% CCB Pillar 1 4.5% Q2 2026 CET1 Q2 2026 CET1 Q2 2026 T1 Q2 2026 T1 Q2 2026 OCR Q2 2026 CAD 30.06.2026 MREL Q2 2026 MREL Required Re
Slide 56: Regulatory Capital composition
Regulatory Capital composition Equity to regulatory capital bridge € mn 9.5% Tangible book value / Tangible Assets 8,330 7,773 (557) 1,037 6,734 700 5,697 (1,880) (230) 4,997 (666) Ordinary Intangibles Tangible DTA deduction DTC Other CET1 AT1 & Hybrids Tier 1 Lower Tier II Total CAD Equity Book Val
Slide 57: Group RWAs and Regulatory Capital
Group RWAs and Regulatory Capital Group Risk Weighted Assets evolution Credit Risk Weights per portfolio € bn % €1.32bn 1.2 0.1 35.6 34.3 100% 0.0 3.5 3.5 0.7 48% 46% 0.6 Performing Net NPE Total Loan Portfolio RWA Density 30.3 31.5 DTA & Tax Credit with CET1 Capital € bn CET1 5.0 5.0 DTC 2.7 2.7 Ma
Slide 58: Further progress towards meeting MREL Requirements
Further progress towards meeting MREL Requirements ▪ No subordinated MREL requirement 29.34% ▪ Expect Alpha Bank to continue to be a regular issuer in the debt capital markets 0.33% 27.52% 3.94% ▪ MREL ratio as of 30.06.2026 stands at 29.3%, well above 9.67% the final MREL binding target of 30.06.20
Slide 59: Pages
Pages Business Update Business Update 3 Financial Performance Financial Performance 12 Macroeconomic Update Macroeconomic Update 20 Alpha Bank PL P&L 22 Balance Sheet Balance Sheet 35 Asset Quality Asset Quality 47 Capital Capital 53 Segmental Information 59 Recent MA Recent M&A 65 Digital Digital 7
Slide 60: Retail
Retail Key figures REVENUES / VOLUMES PROFITABILITY (in €mm) H1 2026 H1 2025 ∆difference, % +€11mn €0.9bn Net loans 8,693 8,906 (2%) Revenues y/y Deposits y/y Deposits 35,491 34,585 3% (€14mn) +0.5mn (0.2bn) Total revenues 371 360 3% Profits3 y/y Net Loans y/y Recurring Operating (204) (193) 6% expe
Slide 61: Wholesale
Wholesale Key figures REVENUES / VOLUMES PROFITABILITY (in €mm) H1 2026 H1 2025 ∆difference, % +€38mn €2.7bn Net loans 32,294 28,863 12% Revenues y/y Deposits y/y Deposits 12,970 10,235 27% +€13mn €3.4bn Total revenues 518 480 8% Profits3 y/y Net Loans y/y Recurring Operating (107) (92) 16% expenses
Slide 62: Wealth
Wealth Key figures REVENUES / VOLUMES PROFITABILITY (in €mm) H1 2026 H1 2025 ∆difference, % +€20mn €2bn Assets under 29,088 20,267 44% Revenues y/y Mutual Funds y/y Management Total revenues 95 76 26% +€11mn €6.8bn Recurring Operating (35) (30) 18% Profits3 y/y Other AUMs y/y expenses Normalised Pro
Slide 63: International
International Key figures REVENUES / VOLUMES PROFITABILITY (in €mm) H1 2026 H1 2025 ∆difference, % +€32mn €2.4bn Net loans 2,750 1,714 60% Revenues y/y Deposits y/y Deposits 6,206 3,856 61% (€1mn) €1bn Total revenues 110 78 41% Profits y/y Net Loans y/y Recurring Operating (67) (43) 56% expenses Nor
Slide 64: NPAs and Corporate Center
NPAs and Corporate Center Non Performing Assets (NPAs) Corporate Center (in €mm) H1 2026 H1 2025 ∆difference, % (in €mm) H1 2026 H1 2025 ∆difference, % Net loans 1,471 1,006 46% Assets 22,542 20,448 10% Assets 2,292 1,824 26% TBV 1,763 1,562 13% Total revenues 19 13 44% Total revenues 100 103 (3%) R
Slide 65: Pages
Pages Business Update Business Update 3 Financial Performance Financial Performance 12 Macroeconomic Update Macroeconomic Update 20 Alpha Bank PL P&L 22 Balance Sheet Balance Sheet 35 Asset Quality Asset Quality 47 Capital Capital 53 Segmental Information Segmental Information 59 Recent M&A 65 Digit
Slide 66: Value-accretive M&A accelerating our strategy
Value-accretive M&A accelerating our strategy: >9% EPS accretion at <100bps of Capital Full Capital Announced Closing integration EPS ROTE impact Retail date Closed Fintech factoring platform enhancing our solutions Accretive for SMEs in Greece and Cyprus 28/01/25 05/08/25 Q1 2027 n/a Minimal in 202
Slide 67: Flexfin expands factoring platform enhancing solutions for SMEs
Flexfin expands factoring platform enhancing solutions for SMEs Innovative factoring platform, primarily serving Greek and Cypriot M&A criteria small and medium enterprises. fully met Focus on an underpenetrated market segment with significant growth potential and strong risk-adjusted returns 100% c
Slide 68: AstroBank acquisition consolidates third largest bank position in Cyprus
AstroBank acquisition consolidates third largest bank position in Cyprus 100% cash acquisition of the banking operations of AstroBank Key financials2 Fast growing Eurozone economy with real GDP growth of 4th 2.5% over 2025-2026, outpacing broader Euro area (1.6%)1 Largest bank in Cyprus by net loans
Slide 69: Significant EPS & RoTE accretion with limited impact on capital
Significant EPS & RoTE accretion with limited impact on capital M&A criteria Impact of transaction on Alpha Bank: fully met Combined entity in Cyprus will contribute c. €100mn of net c. 5% income to Alpha Bank Group post cost synergies EPS accretion from year 2 Exposure in Cyprus will increase from
Slide 70: AXIA acquisition to form the regional IBCM leader
AXIA acquisition to form the regional IBCM leader Creating the largest and only vertically integrated Investment M&A criteria Banking and Capital Markets (IBCM) platform in Greece and Cyprus fully met AXIA's expertise in financial advisory complements Alpha's existing IBCM and financing services, ex
Slide 71: Scaling our top3 presence in Cyprus
Scaling our top3 presence in Cyprus M&A criteria Alpha Bank announced agreement on the key commercial and legal terms of strategic insurance transactions in Cyprus between Universal Life and Altius: fully met ▪ The acquisition of 100% of Altius Insurance; definitive agreement executed c. 2% and comp
Slide 72: Alpha Trust reinforces our leading position in Wealth Management
Alpha Trust reinforces our leading position in Wealth Management Acquisition of 69.61% in Alpha Trust Holdings and VTO1 for remainder. M&A criteria Alpha Trust is a leading independent asset manager with >€2.2bn of AuMs fully met (+19% CAGR 2022-2025) retail, private and institutional clients. c. 1%
Slide 73: Pages
Pages Business Update Business Update 3 Financial Performance Financial Performance 12 Macroeconomic Update Macroeconomic Update 20 Alpha Bank PL P&L 22 Balance Sheet Balance Sheet 35 Asset Quality Asset Quality 47 Capital Capital 53 Segmental Information Segmental Information 59 Recent MA Recent M&
Slide 74: Continuous improvement in key digital metrics
Continuous improvement in key digital metrics +16.5% 30.4% ~ 9 in 10 35% Mobile Transactions YoY Digital Sales Consumer loans Credit cards issued (of total sales) originated digitally Digitally (like for like) Overall Digital Penetration Metric 2024 2025 2026 Q1 2026 Q2 Transaction Individual Busine
Slide 75: Pages
Pages Business Update Business Update 3 Financial Performance Financial Performance 12 Macroeconomic Update Macroeconomic Update 20 Alpha Bank PL P&L 22 Balance Sheet Balance Sheet 35 Asset Quality Asset Quality 47 Capital Capital 53 Segmental Information Segmental Information 59 Recent MA Recent M&
Slide 76: Our approach to ESG business opportunities
Our approach to ESG business opportunities Sustainability growth strategy Value creation impact » Setting Science-Based Targets for material sectors, to align our portfolio with the Paris 64% of in-scope emissions & c. 80% of exposure Objectives, mitigate transition risk & allocate capital to suppor
Slide 77: 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 targets › Risk management › Engaging with other stakeholders › Roles › Expansion of portfolio coverage › Transition products ›
Slide 78: Driving Sustainable Progress
Driving Sustainable Progress Support an Environmentally Foster Healthy Economies Ensure Robust and Sustainable Economy and Societal Progress Transparent Governance € 785 million 87% branches 45% Women for Sustainable Disbursements in 2026 of the Group are accessible1 at Board of Directors Advancing
Slide 79: Recognition of our commitment to Sustainability
Recognition of our commitment to Sustainability CCC B BB BBB A AA AAA Severe Risk High Risk Medium Risk Low Risk Negligible Risk (100-40) (40-30) (30-20) (20-10) (10-0) D- D C- C B- B A- A Disclosure Awareness Management Leadership E 10 9 8 7 6 5 4 3 2 1 S 10 9 8 7 6 5 4 3 2 1 G 10 9 8 7 6 5 4 3 2 1
Slide 80: 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 81: Glossary (2/5)
Glossary (2/5) Reference Relevance of the Terms Definitions Abbreviation number metric Impairment losses on 18 Represent the impact of incorporating sale scenario in the estimation of expected credit losses. Asset quality metric transactions Sum of Impairment losses of fixed assets and equity invest
Slide 82: 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 83: 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 84: 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 85: 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