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BAWAG : Q1 2026 Earnings presentation (20260421 bawag group q1 2026 results presentation data)
BAWAG : Q1 2026 Earnings presentation (20260421 bawag group q1 2026 results presentation
About this update from Bawag Group Ag
Q1 2026 BAWAG GROUP RESULTS April 21, 2026 Q1 2026 HIGHLIGHTS & STRATEGY HIGHLIGHTS Q1 2026 BALANCE SHEET & CAPITAL +1% customer loan growth vPQ +1% customer funding vPQ €13.6 billion cash (19% of balance sheet) CAPITAL & ASSET QUALITY 15.4% pro-forma CET1 ratio €650 million excess capital including participation sale 0.8% NPL ratio STRATEGIC UPDATE & TARGETS PTSB AS STRATEGIC OPPORTUNITY − BAWAG agreed recommended all cash offer for PTSB − PTSB with €30 billion assets … ~ 1.3m customers − Subject to shareholder and regulatory approvals … potential closing expected in Q4 '26 / Q1 '27 RECONFIRM 2026 TARGET − Net profit >€960m … RoTCE > 20% … CIR <33% − Mid-term targets will be updated at year-end, subject to shareholder and regulatory approvals, of PTSB acquisition FINANCIAL PERFORMANCE €232 million Net profit / +16% vPY €579 million Core revenues/ +8% vPY €391 million Pre-provision profit/ +16% vPY RATIOS 27.6% RoTCE 32.5% CIR 46 basis points Risk cost ratio GROWING OUR FRANCHISE Opportunity to acquire third largest bank in Ireland ASSET STRUCTURE 3 RD LARGEST BANK IN IRELAND 4% 23% €30.5 billion − Retail-focused bank serving ~ 1.3 million customers Customer loans Treasury Assets Other assets − €22.2 billion customer loans, of which 90%+ residential mortgages − €25.6 billion customer deposits, of which 90%+ retail deposits 73% GROWING OUR PRESENCE − Accelerating growth in Ireland after successful launch of our mortgage and deposit franchise, MoCo, in 2023 LIABILITY STRUCTURE − Distribution channels combining digital capabilities with a modern national branch network − Strong local expertise, supported by the scale and operating capabilities of a larger group 9% 7% OUR STRATEGIC PRIORITIES Customer deposits − Franchise enhancing acquisition … prioritizing long-term value over short-term gains Wholesale funding and other liabilities Equity €30.5 billion − Supporting PTSB's aim of building a best-in-class Retail & SME franchise in Ireland − Aim to fully self-fund the acquisition … underwritten in-line with Group return requirements 84% Data as of year-end 2025 BAWAG AND PTSB COMBINATION STRATEGIC SCALE AND LONG-TERM VALUE CREATION PRO-FORMA BALANCE SHEET COMPOSITION DEAL RATIONALE BAWAG 1 PTSB 1 Combined Delta Assets €72b €30b €102b +40% Customer loans €51b €22b €73b ~40% Mortgages €27b €21b €47b ~80% Customer deposits €46b €26b €72b ~55% 1 STRATEGIC FIT 2 Fully aligned with our long-term vision >90% business in Euro countries ~85% secured & public sector lending DAY-1 FINANCIAL ACCRETION 3 P&L accretive from Day 1 >€250m Net profit contribution by 2028 RoTCE >20% through-the-cycle on Group level DISCIPLINED CAPITAL ALLOCATION Full reinvestment of badwill into the business Expected >20% EPS accretion by 2028 > 2x more accretive than buyback BAWAG 1 PTSB 1 UPSIDE POTENTIAL FOCUS AREAS % retail & SME fee income 18% 9% OPEX excluding staff cost / customer loans Enhancing product portfolio: 0.7% 1.2% Optimizing funding structures Investing in Technology & Operations (TechOps) LEVERAGING BEST PRACTICES AND SCALE OF THE GROUP - +1.3m customers to cross-sell Speciality finance (Factoring, leasing and credit cards) Brokerage / Advisory Corporate, commercial real estate and public sector lending Strengthening digital capabilities Leverage product factories New segments Expand distribution channels … partnerships and platforms April 21, 2026 1) Data based on 2025 data, source PTSB 2025 annual report, BAWAG annual report 5 CAPITAL DEVELOPMENT 2026 CAPITAL REQUIREMENTS − Target CET1 ratio of 12.5% is 229bps above 2026 MDA trigger of 10.21% … P2R at 2.35% and P2G at 0.50% EXCESS CAPITAL − Pro-forma CET1 ratio 15.4% with excess capital of €650m above 12.5% CET1 target − Non-distribution commitment for first half-year profit − €75m share buyback program (company stock program) completed in Q1'26 PARTICIPATION SALE − Intangible/RWA impact from sale of minority investment … closing expected in Q2'26 HIGH CAPITAL-GENERATING BUSINESS − Gross capital generation of 103 bps through earnings − RWA growth offset by corporate SRT executed in Q1 '26 DEVELOPMENTS >100 basis points gross capital generation in Q1'26 DEAL FUNDING & ASSUMPTIONS Target to fully self-fund transaction (~450bps of CET 1 required) 210bps 1 o Dividend policy change for 2026 (~200bps in 1H 2026) − Non-distribution commitment for first half-year profit − Maximum potential dividend for financial-year 2026 is limited to second-half year profit (~€500m) 2 o Different set of RWA Measures (~50bps in 1H 2026) − Credit protection (e.g. SRT, insurance, etc.) − All measures fully reflected in our financial targets ALTERNATIVE OPTIONS − Further dividend adjustments − Capital raise +250bps PLANNED MEASURES EXCESS CAPITAL AS OF YEAR-END 2025 CET 1 Ratio Capital required to fund transaction CET 1 Management target >12.5% +250 14.6% 15.4% >17.0% bps >12.5% ~4.5% FY '25 (pro-forma) Q1 '26 (pro-forma) Q2 '26 Maintain minimum CET1 ratio target of 12.5% Excess capital distribution > 13% CET1 ratio for '26 & '27 (forecast) CET 1 €3.3b €3.5b ~€3.7b RWA €22.5b €22.6b <€22b CET 1 % 14.6% 15.4% ~17.0% Excess Capital >12.5% €468m €650m ~€1.0b Q1 2026 DETAILED FINANCIALS FINANCIAL PERFORMANCE & BALANCE SHEET OVERVIEW FINANCIAL PERFORMANCE BALANCE SHEET P&L | € millions Q1 '26 Q1 '25 vPY Q4 '25 vPQ Net interest income 480.2 445.8 8% 473.1 2% Net commission income 98.7 89.0 11% 97.3 1% Core revenues 578.9 534.8 8% 570.4 1% Other revenues 0.1 (1.0) -% 5.1 (98%) Operating income 579.0 533.8 8% 575.5 1% Operating expenses (187.9) (197.6) (5%) (194.3) (3%) Pre-provision profit 391.1 336.2 16% 381.2 3% Regulatory charges (13.7) (9.6) 43% (9.2) 49% Risk costs (65.2) (59.2) 10% (63.9) 2% Net result of at-equity inv. 1.1 0.6 83% 3.6 (69)% Profit before tax 313.3 268.0 17% 311.7 1% Income taxes (81.5) (67.0) 22% (79.5) 3% Net profit 232.3 201.0 16% 230.2 1% Ratios RoTCE 27.6% 26.6% 1.0pts 28.3% (0.7)pts Net interest margin 3.45% 3.31% 0.14pts 3.32% 0.13pts CIR 32.5% 37.0% (4.5)pts 33.8% (1.3)pts Risk cost ratio 0.46% 0.43% 0.03pts 0.45% 0.01pts Earnings per share (€) 3.00 2.54 18% 2.91 3% Tangible book value (€) 44.38 38.01 17% 43.17 3% Balance sheet | € millions Q1 '26 Q1 '25 vPY Q4 '25 vPQ Total assets 71,675 73,053 (2%) 72,297 (1%) thereof Ø interest-bearing assets 56,482 54,668 3% 56,589 -% Customer loans 51,017 49,395 3% 50,749 1% Securities and bonds 4,548 5,925 (23%) 5,044 (10%) Credit institutions and cash 14,308 15,511 (8%) 14,545 (2%) Other assets 1,802 2,222 (19%) 1,959 (8%) Total liabilities & equity 71,675 73,053 (2%) 72,297 (1%) thereof Ø customer funding 62,965 63,019 -% 62,253 1% thereof Ø customer deposits 47.625 47,932 (1)% 47.697 -% Customer deposits 45,720 47,305 (3%) 47,367 (3%) Own issues + AT1 18,906 18,369 3% 18,024 5% Credit institutions and other liabilities 2,603 3,146 (17%) 2,557 2% Common Equity incl. dividends 4,446 4,233 5% 4,349 2% Capital & RWA | € millions Q1 '26 Q1 '25 vPY Q4 '25 vPQ Tangible common equity 3,417 2,985 14% 3,323 3% CET1 capital 3,401 3,033 12% 3,205 6% Risk-weighted assets 22,717 23,217 (2%) 22,594 1% CET1 ratio (post dividend 2025) 15.0% 13.1% 1.9pts 14.2% 0.8pts Leverage ratio 5.2% 4.9% 0.3pts 4.9% 0.3pts Liquidity coverage ratio 176% 213% (37)pts 204% (28)pts CORE REVENUES NET INTEREST INCOME NET FEE & COMMISSION INCOME NIM 3.45% 3.31% 3.28% 3.25% 3.32% 446 458 460 473 480 99 97 94 90 89 Q1 '25 Q2 '25 Q3 '25 Q4 '25 Q1 '26 Q1 '25 Q2 '25 Q3 '25 Q4 '25 Q1 '26 − 1% customer loan growth in Q1 '26 … growing consumer and overall flat mortgage business − Average 3-month Euribor flat vPQ and deposit beta at ~35% in Q1 '26 (down (2)pts vPQ) − NII Sensitivity: +25bps: +€25m (12months); +€50m (24months) − Expect gradual growth for the rest of the year − Continuous strong results across business lines of Retail & SME, particularly in credit cards/payments − Expect stable development for the rest of the year OPERATIONAL EXPENSES & RISK COST OPERATING EXPENSES RISK COST CIR Risk cost ratio 33.8% 32.5% 207 198 200 194 188 37.0% 37.5% 36.1% 0.43% 0.45% 0.46% 0.37% 0.37% 59 52 52 64 65 Q1 '25 Q2 '25 Q3 '25 Q4 '25 Q1 '26 Q1 '25 Q2 '25 Q3 '25 Q4 '25 Q1 '26 − Integration of Knab completed … rebranding of credit card business Germany to easybank in February '26 launched with phased exchange of cards − Synergy effects continue to materialize … leveraging best practice across the group − Further improvements expected to result in long-term productivity gains across the business … FY expenses expected >(5%) below 2025 − Increase of consumer unsecured in overall asset mix (primarily driven by credit card exposure)… corresponding ECL increase in 1Q '26 due to exposure growth/new card business − NPL ratio stable at 0.8% − Monitoring current geopolitical situation … low exposure to highly exposed industries (high energy intensive industries and high-risk supply chains) SEGMENT FINANCIALS RETAIL & SME CORPORATES, REAL ESTATE & PUBLIC SECTOR P&L | € millions Q1 '26 Q1 '25 vPY Q4 '25 vPQ Core revenues 500.7 432.5 16% 497.8 1% Net interest income 408.8 350.9 17% 407.6 -% Net commission income 91.9 81.6 13% 90.2 2% Operating expenses (159.6) (169.8) (6%) (156.3) 2% Pre-provision profit 341.1 263.8 29% 342.5 -% Regulatory charges (8.7) (4.7) 85% (4.4) 98% Risk costs (65.2) (48.3) 35% (58.1) 12% Profit before tax 267.2 210.8 27% 280.0 (5%) Net profit 197.7 158.1 25% 210.0 (6%) Ratios RoTCE 35.5% 33.5% 2.0pts 39.3% (3.8)pts Net interest margin 4.27% 3.86% 0.41pts 4.21% 0.06pts NPL ratio 1.3% 1.0% 0.3pts 1.2% 0.1pts Risk cost ratio 0.67% 0.53% 0.14pts 0.60% 0.07pts Balance sheet | € millions Housing loans 26,568 26,581 -% 26,585 -% Consumer and SME 12,528 11,039 13% 12,228 2% Total assets 39,096 37,620 4% 38,813 1% Total assets (avg.) 38,838 36,391 7% 38,759 -% Customer deposits 43,283 43,474 -% 44,516 (3%) Customer deposits (avg.) 43,275 41,762 4% 43,032 1% P&L | € millions Q1 '26 Q1 '25 vPY Q4 '25 vPQ Core revenues 76.7 74.6 3% 74.5 3% Net interest income 69.7 67.2 4% 67.3 4% Net commission income 7.0 7.4 (5%) 7.2 (3%) Operating expenses (17.7) (17.3) 2% (16.9) 5% Pre-provision profit 59.0 58.9 -% 58.3 1% Regulatory charges (2.4) (2.3) 4% (2.3) 4% Risk costs 0.0 (9.1) (100%) (6.5) (100%) Profit before tax 56.6 47.5 19% 49.5 14% Net profit 41.9 35.6 18% 37.1 13% Ratios RoTCE 30.8% 27.4% 3.4pts 28.5% 2.3pts Net interest margin 2.00% 1.96% 0.04pts 1.93% 0.07pts NPL ratio 0.2% 0.6% (0.4)pts 0.2% -pts Risk cost ratio 0.00% 0.27% (0.27)pts 0.19% (0.19)pts Balance sheet | € millions Corporates 2,589 2.678 (3%) 2,710 (4%) Real Estate 5,749 5,500 5% 5,687 1% Public Sector 5,599 5,538 1% 5,647 (1%) Total assets 14,065 13,830 2% 14,166 (1%) Total assets (avg.) 14,155 13,694 3% 13,956 1% Customer deposits 2,912 4,248 (31%) 3,386 (14%) Customer deposits (avg.) 3,816 5,795 (34%) 4,142 (8%) 2026 OUTLOOK & TARGETS RECONFIRMING TARGETS 2026 OUTLOOK 2026 TARGET THROUGH-THE-CYLCE TARGETS Net interest income > 6% Core revenues > 6% Operational expenses > (5%) Risk cost ~45bps Regulatory charges €(48)m NET PROFIT >€960m €860m €760m 2024 2025 2026 ROTCE >20% CIR <33% CET1 12.5% Q1 2026 SUPPLEMENTAL INFORMATION BALANCE SHEET POSITIONED FOR GROWTH WHILE STAYING CONSERVATIVE FORTRESS BALANCE SHEET, DISCIPLINED UNDERWRITING, AND LONG-TERM FOCUS ON RISK ADJUSTED RETURNS LOW-RISK BALANCE SHEET FOCUSED ON RETAIL & SME € billion 72 14 27 13 6 6 3 3 0 PORTFOLIO MANAGEMENT − €13.6b cash available to deploy into customer lending and/or adding to securities portfolio when appropriate opportunities arise Customer assets ~75% Cash ~20% Investment book ~5% − Customer-loan exposure ~80% secured and public sector assets … €14b covered bonds against ~€40b real estate and public sector assets − Retail housing loans ~50% (€27b) of customer book … LTV of ~53% on non- guaranteed mortgages … 36% state/insurance guaranteed − No FX volatility … net spread income hedged on a forward basis − Avoiding outright interest-rate risk … matched balance sheet approach CONSUMER & CORPORATES MORTGAGES PRIMARY FOCUS: LOSS MITIGATION & THROUGH-THE-CYCLE RISK-ADJUSTED RETURNS €2b of assets linked to unsecured lending or leasing portfolios, €3b to Corporate exposures €10b PRIMARY FOCUS: CAPITAL EFFICIENCY OF LOW-RISK PORTFOLIOS €5b (63%) mortgages under standard approach reduces risk weight from 37% to 16% (EU IRB average 13%) RETAIL & SME CONSUMER & SME 10% 14% Consumer loans 43% Overdrafts & Cards €13b Leasing & Factoring SME 33% OVERVIEW − Portfolio comprised of €8.1b unsecured and €4.4b secured lending − Credit cards: prudent growth after acquisition of German cards portfolio − Specialty finance (leasing and factoring): primarily cars, movables with high utility value or liquid collateral − Consumer loans: Stable loss rates … >90% of consumer loan originations with fixed rate OUTLOOK − Unemployment remains low across customer base (Austria, Germany, Netherlands, Switzerland, U.S.) − Risk cost levels to increase marginally with higher share of unsecured consumer HOUSING 3% 1% 4% Netherlands Austria 29% €27b Germany North America 63% Ireland OVERVIEW − 36% state or insurance guaranteed − Weighted average LTV 53% (non-guaranteed loans) − Weighted average LTV at origination below 70% since 2020 − De-minimis loss history, significant customer equity and affordability buffers − Fixed rate: ~90% of housing loan portfolio OUTLOOK − Stable portfolio development driven by tight pricing environment − Low NPL level based on high levels of debt service coverage and equity PORTFOLIO OVERVIEW CORPORATES & REAL ESTATE PORTFOLIO OVERVIEW CORPORATES REAL ESTATE By geography €2.6b By industry By geography By LTV €5.7b − Resilient portfolio with low leverage profile (~ 50% LTV, 97% of book <80% ), NPL ratio 2bps − Senior-secured with strong structural protections (Mortgage collateral, 1 st lien, guarantees typical), collateral and title verification, insurance required, ongoing approval of new assets) − 80% financing portfolios of cross-collateralized assets (average >150 properties per deal) − New originations mainly in U.S., realizing pipeline with attractive risk-adjusted returns − US office stabilized: less than <5% of total portfolio … all deals fully performing (Stage 1), average senior debt yield ~10%, LTV ~ 65%, average occupancy ~80% 2022 2023 2024 2025 Q1 '26 Residential 42% 43% 51% 62% 62% Industrial / Logistics 22% 22% 21% 16% 16% Office 22% 21% 15% 10% 10% Hospitality 7% 7% 8% 8% 8% Shopping / Retail 5% 5% 4% 3% 3% Other 2% 2% 1% 1% 1% €2.6b − Strong credit quality driven by focus on consistent cash flows in non-cyclical industries − Average net leverage <4.0x, 100% senior lending − Low exposure to energy intensive industries and high-supply chain reliant business models (~10%) of total corporate book − NPL ratio 1.2% − Lender financing €0.8b total / €0.5b US … 1% of assets Senior financing on secured basis of diversified portfolios of corporate loans Average advance rate ~ 50%, look through net leverage ~2.5x Granular pools of loans across 12 facilities Strict diversification requirements and concentration limits DEFINITIONS B/S leverage Total assets/common equity (excluding earmarked dividend and buyback) Book value per share Common equity (excluding AT1 capital, dividends and buyback)/number of shares outstanding Common Equity IFRS equity excluding AT1 capital, earmarked dividend and buybacks Common Equity Tier 1 capital (CET1) Including interim profit and deducting earmarked dividends and buyback Common Equity Tier 1 ratio Common Equity Tier 1 capital (CET1)/risk-weighted assets Common Equity Tier 1 ratio pro-forma Common Equity Tier 1 capital (CET1)/risk-weighted assets including the sale of a participation (YE'25, Q1'26) Core revenues The total of net interest income and net fee and commission income Cost-income ratio Operating expenses (OPEX)/operating income Customer Deposits (average) Deposits to customers including own issues sold through retail network and private placement, average based on daily figures Customer Funding (average) Deposits to customers, covered bonds (public sector and mortgage) and senior bonds sold through the retail network and private placement, average based on daily figures Customer Loans Loans to customers measured at amortized cost Common equity Equity attributable to the owners of the parent; excluding minorities, AT1 and deducted earmarked dividend and buyback Earnings per share (EPS) Net profit/weighted average number of shares outstanding (diluted) Interest-bearing assets Financial assets + assets at amortized costs incl. customer business from relevant B/S position Leverage ratio Tier 1 capital (including interim profit, earmarked dividends, buyback/total exposure (CRR definition) Loan to Value (LTV) IFRS book value including prior liens excluding NPLs / Market value of real estate collaterals allocated excluding NPLs Net interest margin (NIM) Net interest income (NII)/average interest-bearing assets NPL cash coverage Stage 3 Loan Loss Provisions plus Reserves plus Prudential Filter / Non-performing exposure (economic IFRS) NPL ratio Non-performing exposure (economic IFRS) - defined as NPL acc. to Art. 178 CRR excluding Retail & SME segment exposures without arrears (8.1. 8.2 and 8.4 RK) / BAWAG Group Total Exposure including off balance (IFRS scope of consolidation) Pre-provision profit Operating income less operating expenses (excluding regulatory charges) Return on common equity (RoCE) Net profit/average IFRS common equity, deducted earmarked dividends and buyback Return on tangible common equity (RoTCE) Net profit/average IFRS tangible common equity, deducted earmarked dividends and buyback Risk cost ratio Stage 1&2 ECL risk costs and Stage 3 risk costs, impairment losses, operational risk and securitization costs (total risk costs) / average interest bearing assets Tangible book value/share Common equity reduced by the carrying amount of intangible assets/number of shares outstanding Tangible common equity Common equity reduced by the carrying amount of intangible assets Total capital ratio Total capital/risk-weighted assets DISCLAIMER Responsibility statements required by Irish Takeover Rules The directors of the management boards of each of BAWAG Group AG ("BAWAG" or "BAWAG Group") and BAWAG PSK (the " BAWAG Directors ") accept responsibility for the information contained in this presentation. To the best of the knowledge and belief of the BAWAG Directors (who have taken all reasonable care to ensure that this is the case), the information contained in this presentation for which they accept responsibility is in accordance with the facts and does not omit anything likely to affect the import of such information. Cautionary Statement Regarding Forward-Looking Statements This presentation contains certain forward-looking statements with respect to BAWAG, BAWAG PSK and PTSB. These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. Forward-looking statements often use words such as "anticipate", "target", "expect", "estimate", "intend", "plan", "believe", "will", "may", "would", "could" or "should" or other words of similar meaning or the negative thereof. Forward-looking statements include statements relating to the following: (i) future capital expenditures, expenses, revenues, economic performance, financial conditions, dividend policy, losses and future prospects; (ii) business and management strategies and the expansion and growth of the operations of BAWAG Group or the PTSB Group; and (iii) the effects of government regulation on the business of BAWAG Group, or the PTSB Group. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of any such person, or industry results, to be materially different from any results, performance or achievements expressed or implied by such forward-looking statements. These forward-looking statements are based on numerous assumptions regarding the present and future business strategies of such persons and the environment in which each will operate in the future. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All subsequent oral or written forward-looking statements attributable to BAWAG, BAWAG PSK or PTSB or any persons acting on their behalf are expressly qualified in their entirety by the cautionary statement above. Neither BAWAG, BAWAG PSK nor PTSB undertake any obligation to update publicly or revise forward-looking or other statements contained in this presentation, whether as a result of new information, future events or otherwise, except to the extent legally required. This statement is included for the purpose of invoking "safe harbor provisions". No profit forecast or estimate No statement in this presentation is intended as a profit forecast or estimate for any period and no statement in this presentation should be interpreted to mean that earnings or earnings per share, for BAWAG or PTSB, respectively for the current or future financial years would necessarily match or exceed any historical published earnings or earnings per share for BAWAG or PTSB respectively. No statement in this presentation constitutes an estimate of the anticipated financial effects of the proposed acquisition. Publication on website Pursuant to Rules 26.1 of the Irish Takeover Rules, this presentation will be made available on BAWAG's website ( https://www.bawaggroup.com/en/investor-relations/ptsb-formal-sale-process ) by no later than 12:00 noon (Irish time) on the Business Day following the date of this presentation. Neither the content of any such website, nor the content of any other website accessible from hyperlinks on such website, is incorporated into, or forms part of, this presentation. No Offer or Solicitation This presentation is for information purposes only and is not intended to, and does not, constitute or form any part of any offer or invitation, or the solicitation of an offer, to purchase or otherwise acquire, subscribe for, sell or otherwise dispose of any securities or the solicitation of any vote or approval in any jurisdiction, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. The proposed acquisition of PTSB will be made solely by means of the applicable scheme document (or, if applicable, the takeover offer documents), which will contain the full terms and conditions of the acquisition. This presentation does not constitute a prospectus or a prospectus equivalent document. Rounding Certain figures included in this presentation have been subjected to rounding adjustments. Accordingly, figures shown for the same category presented in different tables or forms may vary slightly and figures shown as totals in certain tables or forms may not be an arithmetic aggregation of the figures that precede them. General The laws of certain jurisdictions may affect the availability of the presentation to persons who are not resident in Ireland or the United Kingdom. Persons who are not resident in Ireland or the United Kingdom, or who are subject to laws of any jurisdiction other than Ireland or the United Kingdom, should inform themselves about, and observe, any applicable legal or regulatory requirements. Any failure to comply with any applicable legal or regulatory requirements may constitute a violation of the laws and/or regulations of any such jurisdiction. To the fullest extent permitted by applicable law, the companies and persons involved in the acquisition disclaim any responsibility and liability for the violation of such restrictions by any person. Further details in relation to Overseas Shareholders will be contained in the scheme document to be published by PTSB in connection with the acquisition. This presentation has been prepared for the purpose of complying with the laws of Ireland and the Irish Takeover Rules and the information disclosed may not be the same as that which would have been disclosed if this presentation had been prepared in accordance with the laws of jurisdictions outside of Ireland. The acquisition will not be made available, directly or indirectly, in certain restricted jurisdictions, and the acquisition will not be capable of acceptance from within any such jurisdiction. IMPORTANT DISCLAIMER: This presentation is prepared solely for the purpose of providing general information about BAWAG Group, Wiedner Gürtel 11, 1100 Wien. The information does not constitute investment or other advice or any solicitation to participate in investment business. This presentation does not constitute an offer or recommendation to purchase any securities or other investments or financial products. In respect of any information provided past performances do not permit reliable conclusion to be drawn as to the future performances. BAWAG Group does not make any representation, express or implied, as to the accuracy, reliability or completeness of the information contained in this presentation. BAWAG Group disclaims all warranties, both express and implied, with regard to the information contained in this presentation. This presentation contains forward-looking statements relating to the business, financial performance and results of BAWAG Group or the industry in which BAWAG Group operates. These statements may be identified by words such as "expectation", "belief", "estimate", "plan", "target" or "forecast" and similar expressions, or by their context. These statements are made on the basis of current knowledge and assumptions and involve risks and uncertainties. Various factors could cause actual future results, performance or events to differ materially from those described in these statements and neither BAWAG Group nor any other person accepts any responsibility for the accuracy of the opinions expressed in this presentation or the underlying assumptions. No obligation is assumed to update any forward-looking statements. In no event shall BAWAG Group be liable for any loss, damages, costs or other expenses of any kind (including, but not limited to, direct, indirect, consequential or special loss or loss of profit) arising out of or in connection with any use of, or any action taken in reliance on, any information contained in this presentation. BAWAG Group assumes no obligation for updating the provided information in this presentation. The content in this presentation are not to be relied upon as a substitute for professional advice. This presentation shall not be forwarded to any third party. April 21, 2026 20 April 21, 2026