Alior Bank S A: Financial document (Alior Bank 2025 EN)

PRESENTATION OF RESULTS FOR 2025

ALIOR BANK SA | FEBRUARY 24, 2026

Operating activities

Credit risk

Financial results

Other issues

5 Tytuł piątego działu

AGENDA

1 OPERATING ACTIVITIES

ANOTHER SUCCESSFUL YEAR FOR ALIOR BANK, A RECORD 4Q 25

In 4Q 25, revenues amounted to PLN bn 1.49

• net interest income of PLN bn 1.26 (-4% y/y)

• net commission income of PLN mn 240 (+9% y/y)

  
  
  

  In 2025, revenues amounted to PLN bn 6.01

• net interest income of PLN bn 5.13 (-1% y/y)

• net commission income of PLN mn 906 (+4% y/y)

  Alior Bank Group's net profit in 4Q 25 amounted to

  PLN mn 688 (+12% y/y)

  Alior Bank Group's net profit for 2025 amounted to PLN bn 2.37 (-3 y/y)

  
  
  

  ROE in 4Q 25 was 21.7%

  In 2025, the ROE ratio was 19,6%

  Low credit risk costs

• CoR in 4Q 25 amounted to PLN mn 50, and the CoR%

The number of relational retail customers was 1.7 mn

(107 k more than at the end of 2024)

The number of mobile app users was 1.67 mn

(17% more than at the end of 2024)

An increase in sales of Alior Bank loans

• in 4Q 25, total loan sales amounted to PLN bn 8.0, an increase of 12% y/y

• in 2025, total loan sales amounted to PLN bn 29.3,

  an increase of 17% y/y

  
  
  

  Growth of the deposit portfolio

  At the end of 2025, the value of liabilities to customers

  amounted to PLN bn 82.6 and increased by 7% y/y

  Record quarter for Alior Leasing

  
  
  

  ratio was 0.29% (-0.31 pp. y/y)

  • in 2025, the CoR amounted to PLN mn 328, and the

CoR% ratio was 0.49% (-0.13 pp. y/y)

The NPL ratio was 5.64%

This represents a decrease of 1.18 pp. over the past year

The leasing portfolio amounted to PLN bn 7.2 at the end of 2025 (+9% y/y)

Sales in 4Q 25 amounted to PLN mn 961 (+14% y/y) and

this was historically the highest quarterly sales

Assets (PLN bn) Deposits* (PLN bn) Gross Performing Loans** (PLN bn)

+9%

2024

2025

+7%

2024

2025

+5%

2024

2025

37.9%

~0.0 pp. y/y

5.38%

-0.63 pp. y/y

21.7%

-0.6 pp. y/y

0.29%

-0.31 pp. y/y

17.63%

-0.64 pp. y/y

38.2%

+3.2 pp. y/y

5.60%

-0.38 pp. y/y

19.6%

-4.3 pp. y/y

0.49%

-0.13 pp. y/y

5.64%

-1.18 pp. y/y

* Liabilities to customers

** Volume of gross loans classified to stages 1 and 2, without Repo/BuySellBack transactions (PLN bn 0,6 at the end of 2024 and PLN bn 0,4 at the end of 2025)

ALIOR BANK ON A PATH OF DYNAMIC GROWTH

WE CONSISTENTLY DEVELOP CUSTOMER RELATIONS

RETAIL CUSTOMERS

Number of relationship customers (mn) Users of Alior Bank mobile app (mn)

+7% / +107 k

+17% / +240 k

1,68

1,64

1,60

1,62

1,70

4Q 24 1Q 25 2Q 25 3Q 25 4Q 25

1,67

1,59

1,49

1,52

1,43

4Q 24 1Q 25 2Q 25 3Q 25 4Q 25

Share of mobile app users among relationship and installment customers (%)

% of e2E sales initiated in the mobile channel (%)

43,6%

45,0%

45,5%

+5 pp.

47,3% 48,6%

37,5% 38,1%

40,0% 40,7%

+5.1 pp.

42,6%

4Q 24 1Q 25 2Q 25 3Q 25 4Q 25 4Q 24 1Q 25 2Q 25 3Q 25 4Q 25

WE MAINTAIN HIGH SALES OF MORTGAGES

RETAIL CUSTOMERS

20,5

20,9

20,8

20,7

20,7

20,5

23,0

22,3

21,6

20,9

+7%

43,9

43,1

42,3

41,6

41,1

+13%

Balance of assets of retail customers (PLN bn)

7,2

43,1

41,7

41,2

41,4

38,8

15,7

15,4

15,1

15,3

15,1

8,0

0,3

6,3 0,4 7,4

0,3

5,9

5,4 0,4

0,6

7,0

6,9

6,0

65,8 69,9 69,9 71,8 74,3

4Q 24 1Q 25 2Q 25 3Q 25 4Q 25

Current accounts Term deposits Bank-issued derivative securities and others

Investment funds Financial instruments in brokerage accounts

Sale of non-mortgage loans to retail customers

Gross loans to retail customers (PLN bn)

4Q 24 1Q 25 2Q 25 3Q 25 4Q 25

Consumer loans Loans for real estate

Sale of mortgage loans to retail customers (PLN bn)

(PLN bn)

+14%

+36%

+2%

2,0

2,0

2,1

2,2

2,0

8,3

6,9

1,8

1,3

1,3

1,3

1,7

5,4

3,8

3,3

3,4

3,5

5,7

3,7

12,3

X1.9

0,7

1,0

1,4

1,3

1,3

3,7

14,0 5,0

2024 2025

4Q 24 1Q 25 2Q 25 3Q 25 4Q 25

2024 2025

4Q 24 1Q 25 2Q 25 3Q 25 4Q 25

Cash loans Consumer finance

RETAIL CUSTOMERS

From 19.02 new Desktop and login

High availability and customer ratings

-66%

reduction in offline time (y/y)

68%

NPS 4Q 25

4.6 4.6

New useful functions

New services:

• e-Government Office

• Digital Investments

  Intuitive and simple:

• "Products" tab

• "Payments" tab

• "Offers" tab

• "Contact and Help" section

  Offer:

• New communication formats

• New "Offers" section

SALES GROWTH IN THE BUSINESS CUSTOMER SEGMENT*

BUSINESS CUSTOMER

Gross loan volume of Business Customers (PLN bn)

-5%

17,5 17,5 17,4 17,4 16,7

Gross loan volume of Business Customers (PLN bn)

non-performing portfolio

2,8

2,7

2,6

2,7

2,5

-14%

IV kw. 24

I kw. 25

II kw. 25

III kw.25

IV kw. 25

IV kw. 24

I kw. 25

II kw. 25

III kw.25

IV kw. 25

4Q 24 1Q 25 2Q 25 3Q 25 4Q 25 4Q 24 1Q 25 2Q 25 3Q 25 4Q 25

Total credit limit granted (PLN bn)

14%

2,4

2,8

2,2

2,5

2,8

V kw.24

I kw.25

II kw.25

III kw.25

IV kw. 25

The gross loan portfolio in the Small and Medium segments amounted to PLN bn 5.4 at the end of 4Q 25 to and thus increased by 5% y/y

Loan sales in 4Q 25 amounted to PLN bn 2.8 (+14% y/y)

I4Q 24 1Q 25 2Q 25 3Q 25 4Q 25

* subsegments Micro/Small/Medium/Large

AN INCREASE IN DEPOSIT VOLUMES

BUSINESS CUSTOMER

Deposit volume of Business Customers (PLN bn)

Active debit cards (k)

+0.4%

22,6

21,3

22,8

23,0

23,4

+3%

109,2 110,5 110,1 110,1 109,6

V kw. 24

I kw. 25

II kw.25

III kw. 25

IV kw. 25

IV kw. 24

I kw. 25

II kw.25

III kw. 25

IV kw. 25

I4Q 24 1Q 25 2Q 25 3Q 25 4Q 25 4Q 24 1Q 25 2Q 25 3Q 25 4Q 25

% share of online account sales in the Micro segment

+3 pp.

72%

73%

67%

71%

75%

IV kw.24

I kw.25

II kw. 25

III kw. 25

IV kw. 25

An increase in deposit volume (+3% y/y)

We maintain a high level of the number of customers with an active debit card

We maintain a high share of online account sales in the Micro segment (+3 pp. y/y)

4Q 24 1Q 25 2Q 25 3Q 25 4Q 25

3 080

840

819

852

739

6 577

6 624

2024 2025

4Q 24 1Q 25 2Q 25 3Q 25 4Q 25

4Q 24 1Q 25 2Q 25 3Q 25 4Q 25

• Alior Leasing's sales in 2025 amounted to PLN mn 3 370 and were 9% higher y/y

• Alior Leasing's sales in 4Q25 amounted to PLN mn 961 and were 14% higher y/y, this is the highest quarterly sales in the company's history

• The share of individual asset classes remains stable. In 4Q 25, 47% of sales were for vehicles up to 3.5 t, 36% for vehicles over

  3.5 t, and 18% of sales were machinery and equipment

  
  
  

• According to ZPL data, the company's share in sales in 4Q 25 amounted to 2.8% and increased y/y by 0.1 pp., in particular the share in the category of vehicles over 3.5 t increased by 1.1 pp. to 6.3%. The share in the total leasing market portfolio remains stable at 3.0%

+14%

3 370

+13%

Lease and loans portfolio (PLN mn)

+9%

+3%

961

6 963

7 143

6 785

+9%

ALIOR LEASING'S PORTFOLIO GREW +9% Y/Y RECORD SALES IN 4Q 25

Sale of leases and loans (PLN mn)

2 CREDIT RISK

Regulatory ratios of Alior Bank Group Liquidity ratios: LCR, NSFR

21,44%

21,78%

21,08%

21,43%

20,51%

20,23%

20,61%

20,75%

20,07%

257%

245%

227%

214%

202%

191%

177%

181%

187%

143%

141%

144%

145%

148%

148%

146%

146%

149%

17,83%

18,27%

17,46%

17,53% 17,11%

17,37%

17,65%

17,63%

17,15%

16,97%

17,12%

16,78%

16,97%

LCR NSFR

TCR CET 1 / Tier 1 MREL TREA

4Q 23 1Q 24 2Q 24 3Q 24 4Q 24 1Q 25 2Q 25 3Q 25 4Q 25 4Q 23 1Q 24 2Q 24 3Q 24 4Q 24 1Q 25 2Q 25 3Q 25 4Q 25

* Current regulatory minimum (Tier 1 / TCR): CRR minimum (6% / 8%) + conservation buffer (2.5%) + countercyclical buffer (1%). Additionally, the Group received a recommendation from the KNF to maintain a P2G add-on of 2.26%

** The current MREL TREA ratio for the Alior Bank Group set by the Bank Guarantee Fund (BFG) (consolidated, including the combined buffer requirement) is: 18.86%

STABLE AND SAFE POSITION OF THE BANK: CAPITAL AND LIQUIDITY SURPLUS WELL ABOVE REGULATORY MINIMUMS

Alior Bank Group - cost of risk (CoR%) Alior Bank Group - NPL ratio

2,39%

2,80%

1,60%

1,51%

0,98% 0,62%

0,49%

14,48%

13,16%

11,77%

9,80%

8,58%

6,81%

5,64%

2019 2020 2021 2022 2023 2024 2025 2019 2020 2021 2022 2023 2024 2025

The Bank successfully continues to transform its credit risk management strategy, which translates into significant resilience of the loan portfolio to the demanding macroeconomic environment. The cost of risk ratio (CoR%) in 2025 was 0.49%, with settlements of NPL portfolio sales transactions for which the Bank recognized a significant profit in 2Q 25 and 4Q 25 having a significant impact on costs of risk. CoR% after excluding profit from these transactions would be approx. 0.8%.

We do not currently identify risks that could have a significant negative impact on CoR levels. Assuming no significant macroeconomic changes in the coming years, we expect the risk costs of the Alior Bank Group to not exceed 0.8%.

The Bank has consistently reduced the share of NPL loans in the portfolio, achieving a ratio of 5.64% at the end of 2025, despite the default of a significant client in 3Q 25. The path of reducing the share of NPL loans in the Bank's portfolio is in line with the strategy of reducing the NPL ratio below 5% by the end of 2026.

RISK COSTS IN A TREND OF CONSISTENT IMPROVEMENT

Impaired loans (PLN bn) NPL reserve coverage ratio* Cost of Risk - CoR%**

0

6,81%

6,69%

6,18%

6,29%

5,64%

4,16

4,22

4,27

0

0

0

0

4Q 24 1Q 25 2Q 25 3Q 25 4Q 25

Stage 3 NPL Ratio

4Q 24 1Q 25 2Q 25 3Q 25 4Q 25

0,74%

0,72%

0,60%

0,29%

0,20%

4Q 24 1Q 25 2Q 25 3Q 25 4Q 25

Impaired loans - segments NPL provision coverage* - segments CoR% - segments**

2,91% 3,06% 2,67% 2,78% 2,30%

4Q 24 1Q 25 2Q 25 3Q 25 4Q 25

Retail Segment

59,3% 60,0% 59,4% 59,7% 59,3%

47,2%

47,9%

47,2%

13,65%

13,11%

12,41%

12,95%

11,90%

49,1% 50,1%

4Q 24 1Q 25 2Q 25 3Q 25 4Q 25

Retail Segment

2,52%

-0,60%

0,92%

0,62%

0,78%

-0,13%

0,89% 0,96%

0,62%

-0,10%

Corporate Segment (excl. BSB / Repo)

* Managerial presentation

** By quarter (QTD)

Corporate Segment

4Q 24 1Q 25 2Q 25 3Q 25 4Q 25

Retail Segment Corporate Segment

GRADUAL IMPROVEMENT IN THE QUALITY OF THE LOAN PORTFOLIO

3 FINANCIAL RESULTS

-49 (-1%) -55 (-4%)

In 4Q 25, revenues amounted to PLN bn 1.49

• net interest income of PLN bn 1.26 (-4% y/y)

• net commission income of PLN mn 240 (+9% y/y)

  In 2025, revenues amounted to PLN bn 6.01

• net interest income of PLN bn 5.13 (-1% y/y)

• net commission income of PLN mn 906 (+4% y/y)

2024 2025

4Q 24 1Q 25 2Q 25 3Q 25 4Q 25

The net profit of the Alior Bank Group in 4Q 25 amounted to PLN mn 688 and increased by PLN mn 73 compared to the result from 4Q 24

The net profit of the Alior Bank Group in 2025 amounted to PLN bn 2.37 and was lower by PLN mn 78 compared to the result from 2024

Net profit adjusted for the impact of the revaluation of the net tax asset would amount to PLN mn 593 in 4Q 25 and PLN bn 2.27 in 2025

Net profit (PLN mn)

+415 (+20%)

-78 (-3%)

+73 (+12%)

2024 2025 4Q 24 1Q 25 2Q 25 3Q 25 4Q 25

NET PROFIT DUE TO LOWER INTEREST RATES AND HIGHER LEGAL RISK COSTS

Total revenue (PLN mn)

INCOME STATEMENT

-4%

-13% y/y

7 234 6 918

Interest income and expenses (PLN mn)

-9%

-5%

Interest margin and financing cost*

CoF NIM NIM - CoR

6,00% 5,88% 5,74%

1 706

5 528

1 703

5 215

~0% y/y

-6% y/y

1 808

1 770

1 754

1 743

1 650

5,41%

5,15%

5,54%

5,61% 5,38%

4,89% 5,09%

-2 050

-1 783

1,82%

1,87%

1,74%

1,73%

1,53%

4Q 24 1Q 25 2Q 25 3Q 25 4Q 25

2024 2025

Other Interest Income

Interest Cost Loans Interest Income**

Net interest income (PLN mn)

4Q 24 1Q 25 2Q 25 3Q 25 4Q 25

Loan / Deposit Ratio

-1%/-2%***

5 184

5 135

Effect of

"credit moratoria" on NII

5 246

-62

-4%

-2%

77,1%

79,4% 78,5% 78,5% 80,2%

* Managerial p2re0s2en4tation, QTD

2025

4Q 24 1Q 25 2Q 25 3Q 25 4Q 25

4Q 24 1Q 25 2Q 25 3Q 25 4Q 25

** Interest income from loans, debt purchased, and leasing

*** NIM and interest income growth adjusted for "credit moratoria" provisions in 2Q 24 of PLN mn 86 and PLN mn 24 release of "credit moratoria" provisions in 3Q 24

VOLUME GROWTH AND LOWER COST OF FUNDS STABILIZE INTEREST INCOME, DESPITE AN INTEREST RATE DECLINE

2024 2025

+2% y/y

-8% y/y

-4% y/y

+23% y/y

+2% y/y

+28% y/y

-14% y/y

(net)

Bancassurance (net)

Leasing, loans and advances

Brokerage commissions (net)

Transaction margin on currency exchange transactions

Other fee/provision cost and income (net)

Payment and credit cards service (net)

-18

209

-14

-15

-18

-16

+4% y/y

20

18

21

19

+1% y/y

+3% y/y

+60% y/y

+9% y/y

-17% y/y

-14% y/y

4Q 24 1Q 25 2Q 25 3Q 25 4Q 25

* Net fee and commission income in the period in 4Q 24 accounts for the presentation change in brokerage commissions

79

-63

906

867

+9%

+3%

IMPROVED COMMISSION RESULT IN 4Q 25 (+9% Y/Y)

Net Fees and Commissions Income (PLN mn)*

+4%

22

57

19

56

Bank accounts, transfers, cash operations

221

58

18

240

234

222

62

-72

2 118

41

+8%/+5%****

2 295

107

Operating costs (PLN mn)

~0%

-4%

565

565

550

616

586

-8% y/y

302

312

315

335

327

- % y/y

-21% y/y

188 +6% y/y

178

159

144

177

11 65

11 64

11

65

75

62

82

+164% y/y

C/I ratio**

C/I normalized*** C/I reported 42,0%

39,0%

+2% y/y

38,6% 38,8%

37,9%

37,1%

36,1%

37,9%

36,9%

37,9%

2024 2025

4Q 24 1Q 25 2Q 25 3Q 25 4Q 25

4Q 24 1Q 25 2Q 25 3Q 25 4Q 25

Employee expenses General and administrative costs* Amortization and depreciation Costs of Bank Guarantee Fund

* General management expenses include taxes and charges

** By quarter (QTD)

*** The ratio is calculated assuming a linear quarterly distribution of the contribution to the BFG compulsory restructuring fund

**** y/y growth excluding BFG costs

STABILIZATION OF OPERATING EXPENSES IN 2025

• Consistent implementation of an ambitious

  strategy

• Market leader in Consumer Finance

  
  
  

• A distinctive, refreshed brand

• An agile business model built on modern technologies and a variety of distribution channels

• Stable and predictable costs of risk due to highly

  competent management

• High return on equity (ROE)

• Stable capital position, high surplus over regulatory requirements

• Part of the PZU Group, leader in the insurance market

  
  
  

• Dividend payment

WHY ALIOR BANK?

4 OTHER ISSUES

Investments accompany consumption Inflation back on target

10,0

5,0

0,0

Change in GDP (real, %, y/y) and it's composition (p.p.),

Poland

4,6

5,3

3,0

3,6

0,2

-…

6,9

CPI, Poland (%, y/y)

20

15

10

-5,0

konsumpcja GD

spożycie publiczne

inwestycje

household consumption

inventory

public spending

net export

investments

GDP

2019 2020 2021 2022 2023 2024 2025

5

0

zapasy

eksport netto

PKB

Inflacja bazowa (%, r/r)

Inflacja CPI (%, r/r)

Dec-21 Jun-22 Dec-22 Jun-23 Dec-23 Jun-24 Dec-24 Jun-25 Dec-25

NBP rate lowered to 4%

Core inflation (%, y/y) CPI (%, y/y)

2,5%

15 Rate in the CEE region (base, %)

10

5

0

• In 2025, the economic recovery gradually accelerated. While in the first half of the year GDP growth averaged about 3.2% y/y, in the second half it was already close to 4% y/y. The full-year growth is 3.6% compared to 3% in 2024

  Poland, Hungary, Czechia

• The economic situation was driven by domestic consumption (+3.9% y/y) and investment (+4.2% y/y). This meant a rebound compared to 2024, when domestic consumption played the main role (+4.4% y/y) and investment recorded negative dynamics (-0.9% y/y)

• However, investment demand was in an early, unstable phase. Private sector spending on fixed assets accelerated only in the second half of the year, and the construction sector showed clearer signs of improvement only in the fourth quarter

• An important element of the economic landscape was the recovery in Polish industry, where the economic situation accelerated over the year, and in the whole of 2025 an increase of 3% was recorded compared to 0.6% in 2024

• In the second half of 2025, inflation returned in a more sustained manner to the NBP inflation target (2.5% +/- 1 pp).

  Feb-06 Feb-10 Feb-14 Feb-18 Feb-22 Feb-26

  NBP MNB CNB

  
  
  

  Source: GUS, NBP, Bloomberg, own analysis DAM Alior

  This was facilitated, by among others the persistently low inflation in goods, which is due, among others to intensified industrial competition from China

• In the conditions of rapidly decreasing inflation, it was possible to reduce interest rates. The MPC cut rates by a total of 175 bps over the year, including the main rate from 5.75% to 4.00%

  2025: A BROADER RECOVERY AND RETURN TO THE INFLATION TARGET
  
  

  4,0 GDP growth in 2025 (%)

  3,5

  3,0

  2,5

  2,0

  1,5

  1,0

  0,5

  0,0

  110

  105

  100

  95

  90

  85

  80

  New orders in industry, Germany

  Polska

  Cypr Bułgaria Hiszpania Chorwacja

  Czechy Dania Litwa Grecja Portugalia Holandia Szwecja Łotwa Belgia Rumunia Słowenia Francja

  Słowacja

  Luksemburg

  Austria Włochy Estonia Węgry Niemcy Finlandia

  Poland Cyprus Bulgaria

  Spain Croatia Czechia Denmark Lithuania Greece Portugal Holland Sweden Latvia Belgium Romania Slovenia France Slovakia Luxembourg

  Austria

  Italy Estonia Hungary Germany

  Finland

  Dec-21 Jun-22 Dec-22 Jun-23 Dec-23 Jun-24 Dec-24 Jun-25 Dec-25

  2021=100, ceny stałe

  średnia 3m

  2021=100, constant prices average 3M

  Rate cuts in Europe have slowed down

  14 Interest rates

  9

  4

  -1

  • In 2025, the EU's economic growth accelerated to around 1.6% from 1.1% in 2024 and is expected to remain at a similar level in 2026

  • Poland remains one of the leaders in GDP growth in the EU. Of the largest economies, Spain once again stood out positively (nearly 3% growth), while Germany (+0.2%) stood out negatively

  • EU exports, including Germany, in the second half of 2025 were under pressure from higher tariffs imposed by the US on goods from the EU and increased Chinese competition. Nevertheless, cyclical factors and the planned significant fiscal stimulation in Germany support the economic situation in industry, and at the end of 2025 the first signs of the German sector recovering from the crisis appeared

  • The Polish industrial sector has a significant exposure to exports to Germany, and more broadly to the EU. The stabilization of the recovery in the EU and the expected acceleration in Germany is a factor supporting Polish's economic prospects

    Węgry

    Czechy

    Strefa euro

    USA

    Feb-06 Feb-10 Feb-14 Feb-18 Feb-22 Feb-26

    Polska

    Poland

    Hungary Czechia

    USA

    Eurozone

  • At the same time, consumer inflation in the EU and the Eurozone returned to the target (2%) during 2025. With the prospect of a continued moderate recovery and stabilization of inflation, the ECB is also stabilizing interest rates from mid-2025 onwards

    
    
    

    Source: Bloomberg, own analysis DAM Alior

    SIGNALS OF INDUSTRIAL AWAKENING IN THE EUROZONE DESPITE CUSTOMS WARS

    The Polish economy stands out positively within the EU Signs of recovery in German industry

    
    
    

    Accelerating investments will support the economic situation Rates even lower thanks to favorable inflation conditions

    15 GDP growth with main components, Poland

    6,9

    5,3

    3,0

    3,6

    3,3

    3,8

    0,2

    10

    5

    0

    -5

    Investments (real, %, y/y)

    GDP (real, %, y/y)

    2021 2022 2023 2024 2025 2026P 2027P

    Inwestycje (realnie, %, r/r)

    Konsumpcja prywatna (realnie, %, r/r)

    PKB (realnie, %, r/r)

    Private consumption (real, %, y/y)
    
    

    CPI and interest rates, Poland

    16

    5,75

    4,00

    3,25

    3,25

    2,6

    2,3

    1,75

    5,75

    6,75

    14

    12

    10

    8

    6

    4

    2

    0

    2021 2022 2023 2024 2025 2026P 2027P

    Inflacja CPI - średnio (%, r/r)

    Stopa bazowa NBP - koniec okresu (%)

    CPI - average (%, y/y) NBP base rate - EoP (%)
    
    

    2024 2025 2026P 2027P Economic indicators
    GDP (real, %, y/y)	3.0	3.6	3.8	3.3
    Investments (real, %, y/y)	-0.9	4.2	8.9	3.9
    Private consumption (real, %, y/y)	2.9	3.7	3.4	3.1
    CPI (average, %, y/y)	3.6	3.6	2.6	2.3
    Unemployment rate (average, %)	5.1	5.4	5.8	5.7
    NBP base rate (EoP, %)	5.75	4.00	3.25	3.25

    Banking sector (volumes, %, y/y)

    6.9

    8.6

    6.9

    8.3

    7.9

    5.8

    7.2

    6.2

    6.6

    7.1

    Total loans

    Residential mortgages (PLN) Consumer

    Corporate Total deposits

    3.4

    8.4

    5.7

    4.8

    7.9

    5.7

    7.9

    8.1

    8.9

    9.7

    
    
    

    Source: GUS, NBP, own analysis DAM Alior

• The economic recovery in Poland in 2026 will accelerate slightly and be more complete. We expect GDP to grow by 3.8% vs. 3.6% in 2025.

• Economic growth will be characterized by a stabilization of the recovery in private consumption (+3.4%) and a marked acceleration in investment demand (nearly +9%), among others supported by the spending of EU funds. The situation in foreign demand should continue to improve

• The labor market has "loosened" slightly in 2025. On the one hand, entrepreneurs are more cautious about hiring due to increased wage cost pressure, and on the other hand, demographic issues are eroding the labor supply. The unemployment rate at the end of 2026 will be similar to that at the end of 2025 (5.7%)

• Nominal wage growth will normalize (below 7% on average), after a period of significant increases

• Inflation will remain in the range of deviations from the target (2.5% +/- 1 pp). In 2026, we still see chances for surprises with lower-than-forecasted inflation. In such an environment, we see the potential for further cuts in NBP interest rates, by a total of 75 bps throughout 2026.

• In 2026, we expect a moderate acceleration in lending, which will be supported by lower interest rates and a favorable economic situation. We expect an increase in the value of total loans by 6.9% y/y, mortgage loans (PLN) by 8.6% y/y, consumer loans by 6.9%, and corporate loans by 8.3%

2026: ECONOMIC ACCELERATION WITHOUT INFLATIONARY PRESSURE ACCOMPANIED BY LOWER INTEREST RATES





SELECTED ACHIEVEMENTS IN 4Q 25

Alior Mobile

Alior Bank has introduced to customers a new version of the Alior Mobile app. The implementation of the refreshed app is the next step in the implementation of the strategy of "Alior Bank. Or nothing" and in consistently increasing innovation and digitization of services.

The changes were presented during a press conference in the newest branch in Varso Tower.

Alior Business and Alior Business Mobile

Alior Bank has introduced to business customers the new Alior Business online banking system and the Alior Business Mobile app, which replace the existing BusinessPro and BusinessPro Lite solutions.

The new version of Alior Business and Alior Business Mobile was presented during a press conference.

NEW OPENING - ALIOR MOBILE AND ALIOR BUSINESS

1

campaign promoting new Alior Konto Plus

2

new version of the portalwww.aliorbank.pl

• launch in mid-January 2026

  
  
  

• the campaign supports the goal of new acquisitions

• planned implementation in mid-April

• refinement of usability and visual hierarchy for a better customer experience, visual refresh accounting for the latest trends

WE CONTINUE ACTIONS SUPPORTING THE ACQUISITION OF CLIENTS AND THE BANK'S IMAGE

Alior Bank's Brokerage House

In 2025, the brokerage house's commission result was 23% higher than a year earlier and reached nearly PLN mn 90. In 4Q 25 alone, it was over PLN mn 28 (+60% y/y). Particularly high growth is recorded in open-ended funds (FIO) and Investment Advisory assets and in the number of new IKE/IKZE accounts.

Basic Operating Data:

• The number of brokerage accounts exceeded 96.6k (+3.2% y/y)

• The number of IKE/IKZE accounts (brokerage and Alior TFI funds) was 14.4k

  (+37% y/y)

• The number of Alior Trader accounts was 8.5k (+3.8% y/y)

  Alior TFI

  
  
  

  In 4Q 25 Alior TFI maintained a high level of sales of investment funds. In 4Q 25, net inflows to funds amounted to PLN mn 306, and at the end of 2025, TFI reached assets of PLN bn 4.76. The largest inflows were recorded in funds with a relatively low risk profile, Ostrożny and Konserwatywny, as well as in recently opened bond funds in foreign currencies: Euro Obligacji and Dolar Obligacji.

  Over the last 12 months, the growth rate of Alior TFI's AuM level has been greater than the growth of the market. In 4Q 25 alone, Alior TFI's assets grew similarly to the market, i.e., +8%. Alior TFI's share in market assets has grown from 1.1% to 1.2% over the last 12 months.

• Assets in Individual Advisory PLN bn 3.0 (+64% y/y)

• Assets in Open-end Investment Funds PLN bn 7.9 (+49% y/y)

• Sales of Structured Products YTD (gross) PLN mn 465 (-24% y/y)

Net brokerage commissions (PLN mn)

Assets under management in Alior TFI's open funds (PLN bn)

+48% y/y

Assets under management in non-dedicated funds* in Poland (PLN bn)

+32% y/y

+23%

+60%

358

385

292

312

334

4,40

4,76

3,22

3,59

3,81

89,7

72,8

28,2

21,6

21,0

17,7

18,9

2024 2025

4Q 24 1Q 25 2Q 25 3Q 25 4Q 25

4Q 24 1Q 25 2Q 25 3Q 25 4Q 25

4Q 24 1Q 25 2Q 25 3Q 25 4Q 25

* Non-dedicated funds - funds addressed to a broader range of investors

ALIOR BANK'S INVESTMENT SERVICES