FinecoBank S p A : Financial results presentation 1Q26

About this update from Finecobank Spa

May 7 th 2026 1Q26 Results Agenda Section 1: Fineco Financial Results 04 Section 2: Commercial Results 12 Section 3: Next Steps 19 Section 4: Key Messages 25 Section 1: Fineco Financial Results 4 Executive summary: quickly moving towards our next growth cycle Material step-up in net sales and new clients 1Q26 Net sales: 4.6 bn (+43.8% y/y). April Net Sales : at ~1.3 bn (+6% y/y) o/w deposits at ~690 mln (~150 mln in Apr.25), AUM at ~320 mln (+7% y/y) and AUC at ~320 mln. Estimated Brokerage revenues : ~22 mln 1Q26 New clients: 65k (+17.6% y/y). April : 17.5k (+16% y/y) The Disruptor advantage: winning the long-term game thanks to a unique positioning Strong net profit and operating leverage 1Q26 Net Profit: 162.2 mln , stable y/y despite higher tax rate 1Q26 Revenues: 342.9 mln (+4.1% y/y) supported by positive contribution of all product areas (Investing +8.0% y/y, Brokerage +5.2% y/y, Banking +1.9% y/y ) Operating Costs: well under control at -95.1 mln, +9.0% y/y (+5.2% y/y excluding additional costs for growth (1) ) Strong operating leverage: C/I ratio at 27.7% Solid capital and liquidity position CET1: 23.34%; Leverage Ratio: 5.14% LCR: 976% (2) ; NSFR: 412% 2026 guidance: upgraded outlook Upgraded outlook for 2026 and 2029 Plan , driven by combination of: 1) better than expected net sales and clients' growth ; 2) very strong brokerage, expected to further grow; 3) higher interest rates environment. 2026 : all product areas to positively contribute to the revenue growth Net financial income: growing thanks to positive deposit net sales and rates Investing: solid year on year increase of AUM net sales Brokerage revenues: expected another record year Banking fees: expected stable Costs: expected growth of around 6% y/y , not including ~10 mln additional costs for growth initiatives and ~5 mln for pan-EU platform set-up (1) Excluding costs strictly related to the growth of the business, mainly marketing (-1.9 mln y/y), A.I. (-0.7 mln y/y) and FAM (-0.6 mln y/y) 5 (2) Avg 12 months Delivering strong Net Profit in every market condition Results supported by sound acceleration of Investing and Brokerage. Strong operating leverage confirmed Revenues: all product areas contributing Net Financial Income: +1.0% y/y Net Non-Financial Income: +7.7% y/y driven by Investing ( +8.1% y/y thanks to volumes effect and FAM) and Brokerage ( +6.6% y/y driven by higher AUC) Costs: operating leverage and costs for growth y/y increase due to additional costs for business growth (Marketing expenses, FAM, A.I.). Net of these, 1Q26: + 5.2 % y/y (2) mln 1Q25 1Q26 1Q26 /1Q25 Net Financial Income 161.3 163.0 1.0% Net Non Financial Income 167.7 180.6 7.7% Net Other expenses/income 0.2 -0.7 n.s. Total revenues 329.3 342.9 4.1% Staff expenses -36.4 -39.3 8.0% Other admin.expenses net of recoveries -44.4 -48.8 10.0% D&A -6.5 -7.0 7.6% Operating expenses -87.2 -95.1 9.0% Gross operating profit Other charges and provisions 242.0 -3.8 247.8 -4.9 2.4% 29.0% LLP -0.9 -1.4 64.6% Net income from investments -1.0 -0.3 n.s. Profit before taxes 236.4 241.1 2.0% Income taxes -72.2 -78.9 9.3% Net profit 164.2 162.2 -1.2% ROE (1) 24% Cost/Income 28% (1) ROE is calculated as adj.net profit divided by EOP book equity for the period (excl. valuation reserves) 6 (2) Excluding costs strictly related to the growth of the business, mainly marketing (-1.9 mln y/y), A.I. (-0.7 mln y/y) and FAM (-0.6 mln y/y) Net Financial Income: growth ahead driven by valuable deposits A quality, industrially driven NII Sticky transactional deposits with cost of funding close to zero Even a small banking-only client is profitable Supported by our clients' transactional liquidity Deposits net sales : solid underlying dynamics despite huge clients' investments bn, C 1Q25 1Q26 Salary/Pensions +4.8 +5.2 Net bank transfers +3.8 +4.6 +8.6 +9.7 Expenses -5.8 -6.1 +2.8 +3.7 AUM/AUC Total -3.3 -3.9 +32 % y/y -0.6 -0.2 Net Financial Income mln, C +1.0% +1.0% 161.3 161.4 163.0 1Q25 4Q25 1Q26 Avg 3MEUR 2.56% 2.04% 2.05% Deposits, stock (daily avg, bn) 29.1 30.8 31.4 7 Investing: solid growth aligned with long-term trends Thanks to demand for explicit fee solutions and increasing FAM contribution 1Q25 4Q25 1Q26 52% 53% 53% AUM: growth aligned with structural trends AUM Stock (EOP) bn, C 66.3 74.0 73.9 % Advanced advisory on AUM stock Investing revenues +8.0% mln, C -5.6% 94.5 108.1 102.0 1Q25 4Q25 1Q26 Avg AUM (on daily basis, bn) 66.9 72.5 74.9 Investing fees q/q due to usual 1Q seasonality : on PFA costs (FIRR and Enasarco) FAM (2025 operating efficiencies booked in 4Q25) Fewer calendar days in 1Q26 Details on slide 36 Sustainable revenues 0% perf fees and only 2% upfront fees FAM: key to sustain AUM margins Stock (EOP) bn, C Retail class FAM funds underlying FAM retail / FBK AUM 36.9 41.4 41.9 25.4 29.1 29.1 11.5 12.3 12.8 Mar.25 Dec. 25 Mar.26 38.2% 39.3% 39.4% 8 Brokerage: a new structural growth under way Fineco the platform of choice for stronger retail engagement trend An higher floor of Brokerage revenues… mln, C Avg monthly revenues CAGR +15.4% 24.2 21.3 16.0 18.1 2023 2024 2025 1Q26 …driven by a structurally higher stock of AUC bn, C AUC stock CAGR +23.2% 44.7 54.8 56.7 36.1 FY23 FY24 FY25 1Q26 Initiatives to unlock significant potential from AUC : details on slides 21/22 Launch of Securities Lending platform Auto-FX More efficient Systematic Internalizer ETFs on self-direct clients Crypto offer: in talks with Regulators Pan-EU platform Launch by end of 2026/ beginning 2027 9 Lending, a high-quality business Offered exclusively to the existing base of clients 343 Commercial Loans Portfolio (gross) C, mln eop +3.7% -0.3% 5,110 5,317 5,299 2,034 2,271 2,349 470 434 2,141 369 473 2,262 2,108 Mar.25 Dec.25 Mar.26 Current accounts/Overdraft (1) Personal loans Cards Mortgages 470 Cost of Risk on commercial loans (2) Cost of Risk 9 bps NPE ratio (3) 0.53 % No Corporate Loans NPE at 28 mln with a coverage ratio at 82% LLP equal to -1.4 mln in 1Q26 (1) Current accounts/overdraft Include Lombard loans (2) Cost of Risk: commercial LLP of the last 12 months on average last 12 months commercial Loans 10 (3) NPE ratio: Non Performing Exposures on Commercial Loans Portfolio over the Commercial Loans Portfolio Rock-solid capital and liquidity ratios Well above requirements Mar.25 Dec.25 Mar.26 Current Requirements CET1 Ratio 23.99% 23.30% 23.34% 8.66% (C/bn) Mar.25 Dec.25 Mar.26 CET1 Capital 1.34 1.45 1.47 CAPITAL Total Capital Ratio 32.94% 31.37% 31.27% 13.03% Leverage Ratio 5.34% 5.07% 5.14% 3.00% 888% 958% 976% 100% RWA 5.59 6.20 6.30 LCR (1) Tier1 Capital 1.84 1.95 1.97 Total Capital 1.84 1.95 1.97 LIQUIDITY NSFR 390% 418% 412% 100% HQLA/Deposits (1) 78% 80% 79% MREL LRE 7.66% 7.15% 7.22% 5.25% MREL MREL TREA 47.19% 44.23% 43.93% 22.19% o/w credit 2.80 3.05 3.14 o/w market 0.10 0.17 0.17 o/w operational 2.69 2.99 2.99 HQLA (1) 22.12 24.06 24.51 (1) Avg 12 months, in line with Pillar 3 disclosure 11 Section 2: Commercial results 12 A unique positioning for a long-term growth story Italian households TFA: addressable market (1) bn, C 4,155 Addressable market FBK 96.3% market share 3.7 % Massive runway ahead 3Q25 The Established Disruptor : a structural winner in a quickly changing market AI disruption Massive generational wealth transfer Consolidation in banking industry (1) Estimate based on Bankit figures. Addressable market includes deposits, administered and managed assets; it excludes stakes in non-listed enterprises and TFR. 3Q25 latest available figure 13 Fineco, long term sustainability for our AUM fee structure Fineco: a clear outlier % of Active Funds charging Performance Fees (by country of domicile) (1) A unique market positioning based on Efficiency, Transparency and Convenience 64.9% 43.9% 1.1% 6.9% 11.9% 13.3% Fair & transparent pricing UK Ireland Lux All countries Germany Italy No performance fees Negligible upfront fees Leading to a sustainable growth fully aligned with clients' interest and long term trends Certificates issued on primary market (bn, €) (2) 25.8 23.6 31.8 2023 2024 2025 A clear sign of sizable upfront fees charged (1) Source: Morningstar, European Fund Fee Study 2025 (2) Source: ACEPI, Associazione Italiana Certificati e Prodotti di Investimento. ( https://acepi.it/it/content/mercato-primario-2006-2025) 14 Fineco at an inflection point A material step-up in our growth trajectory bn, C Total Net Sales Thd, New clients 2.6 5.7 9.8 13.4 +43.8% 4.6 3.2 97.3 119.2 152.4 193.8 +17.6% 55.3 65.0 avg 2010/14 avg 2015/19 avg 2020/24 2025 1Q25 1Q26 2022 2023 2024 2025 1Q25 1Q26 15 Outperforming in young and PB clients Under 35 above 35 years under 35 years New clients (by headcount) 49% 41% 2021 51% 2025 1Q26 49% 51% 59% +82.6 % Deposits AuM AuC 5.7% 2.9% Market share on AIPB (1) 1Q26 2025 Private Banking Avg TFA 1.0 mln 9% 47% 44% +266.1 % vs. 22.2 2016 81.2 +265.2% 81.4 C bn, TFA Consistently gaining market share AIPB C bn, TFA Improving the quality of our client base Client segmentation 162.1 160.6 >500k 100-500k 50-100k <50k 107.9 45% Higher avg TFA per client Avg age Total clients: 50 New clients: 38 34% 7% 8% FY25 34% 7% 8% 1Q26 FY21 76 k FY25 89 k Private clients: 63 New clients: 55 FY21 9% 10% 50% 51% 35% 16 (1) AIPB (Associazione Italiana Private Banking). Private Banking clients are clients with more than € 0.5mln TFA with the Bank Net Sales and Total Clients evolution Fineco: a sizable step-up in our growth 2022 3.6 -0.2 -0.6 1.2 3.2 4.8 8.3 2024 +43.8% 10.1 4.1 8.8 2.7 10.3 13.4 +33.3% C bn, TFA 4.6 1.1 5.5 3.6 6.0 5.6 1.2 1.1 2.7 2.0 Total Net Sales Deposits AuC AuM 1Q26 1Q25 2025 -2.1 2023 Total Clients , k +8.7% 1,800.0 1,850.3 1,487.3 1,562.9 1,655.6 2022 2023 2024 2025 1Q26 17 Net Sales and client acquisition evolution Fineco: a sizable step-up in our growth Total Net Sales - Organic / Recruit New PFAs recruited in the year PFAs recruited over the last 24 months C, bn 10.3 8.8 10.1 13.4 4.6 10.3 8.8 10.1 13.4 4.6 5% 90% 4% 6% 3% 1% 13% 12% 9% Total recruits Organic 95% 6% 10% 96% 94% 97% 99% 94% 91% 88% 87% 2022 2023 2024 2025 1Q26 2022 2023 2024 2025 1Q26 Network - headcount 2,918 2,962 3,002 3,076 3,117 Senior recruited ( ) 86 70 78 88 29 No change in our recruiting policy Organic net sales the main engine of our growth Junior recruited ( ) 128 71 99 100 38 Structural increase in the spontaneous interest to join Fineco Perfect partner for professionals looking to grow in a sustainable way 18 Section 3: Next steps 19 2026 Guidance: upgraded outlook Costs and provisions Operating costs: expected growth of around 6% y/y, not including few millions of additional costs for growth initiatives ( ~ 10 mln, mainly: AI, marketing, FAM) and ~5 mln for pan-EU platform set-up costs Cost / income: comfortably below 30% thanks to the scalability of our platform and strong operating gearing Cost of risk: in a range 5-10 bps Revenues Upgraded outlook for 2026 and 2029 Plan , driven by combination of: 1) better than expected net sales and clients' growth ; 2) very strong brokerage, expected to further grow; 3) higher interest rates environment. 2026: all business areas to positively contribute to the revenue growth thanks to the acceleration of structural trends Net financial income: growing thanks to positive deposit net sales and rates increase Capital Payout & capital ratios: we expect a payout ratio in a range 70/80%. On Leverage Ratio our target is to remain above 4.5% Investing: solid year on year increase of AUM net sales Brokerage revenues: expected to remain strong with a continuously growing floor thanks to higher AUC and active investors. We expect another record year Banking fees: expected stable 20 Unlocking AUC potential: focus on initiatives Securities Lending platform Launch in June New Platform Auto-FX Live Systematic Internaliser/ Market maker Positioning towards a quote- A market-place to provide access to our high quality & growing AUC All our client base can now also use Auto-FX Live driven market evolution: Creating a connection with several institutional players (prime brokerage desks, hedge funds, asset managers, market makers…) High quality AUC: very granular, geographically diversified and retail-based AUC (Hard to Borrow). ETFs very well on demand Automated FX switch: a leaner customer experience with no FX risk more profitable for the Bank Growing volumes internalization thanks to the growth of our business Internalize the vast majority of asset classes (listed and non-listed) Issuer/market maker of wide range of products (i.e. CFDs, certificates, ETFs) Key for the launch of the pan-EU platform mln, C Strong upside potential to brokerage revenues CAGR +23.2% 58.6 69.2 89.1 25.2 2023 2024 2025 1Q26 21 ETF: a new revenues engine for Brokerage and Investing A fast-accelerating shift underneath the surface of the Italian Wealth Management industry A new revenues engine C, mln +59.8% 37.6 23.5 14.0 2024 2025 1Q26 A portion of ETF revenues is included in the revenues from the Systematic Internaliser (slide 21) ETFs Stock C, bn 16.7 17.9 ETFs in AUC ETFs in AUM 11.1 FY24 FY25 1Q26 % ETF on AUC net sales 34% % ETF on AUM net sales 32% 2.9 4.7 4.4 8.2 12.3 13.2 Several drivers to further monetize ETFs Brokerage Investing Brokerage fees led by strong turnover Securities lending opportunity Internalization opportunity Platform fee by end of 1H26 Advanced advisory solutions: big volume game ahead FAM: active ETFs, co-branding on passive plain vanilla Accumulation plan now in AUM 22 Fineco pan-European platform Launch by end 2026/early 2027 Our vertically integrated brokerage key to launch a multi-country platform Strong operating leverage G very low fixed costs Leveraging our Italian IT infrastructure Limited fixed-costs. Variable costs linked to business results EU passporting leveraging on the Italian banking license A distinctive proposition Established Disruptor: a Trusted & Significant Bank, with a state-of-the-art user experience Disruptive offering with a top-quality customer experience, enabling rapid international penetration Medium term expected ROE higher vs current Fineco 23 Deploying AI across the platform Already live CRM for PFAs and Managers Fully integrated with Fineco platform and data to manage clients and advisor teams Clustering clients and prospects for new campaigns and events Alerts and agenda to identify priority actions AI Assistant for PFA Family&Friends phase Brokerage Copilot A new AI-driven user experience Screening securities Based on fundamentals and technical analysis Compare with more securities Conversational chat Already live Portfolio Builder PFA Chatbot Portfolio analysis Simulation of portfolio evolution Building quality portfolios. Reporting and proposals Diagnosis for prospects Performance and TER comparison New Builder enhancement : clients' portfolio analysis and optimization Processes, internal documents and products Newsflow related to the portfolio Smart market news based on clients' interests AI- queryable News tagged with market sentiment AI native APPs AI upgraded onboarding App for clients Design phase App for PFAs Data-driven personalized upselling A step-change in usability and simplification AI and commercial tools onto a dedicated PFAs App AI-first Onboarding Already live A leaner onboarding process to lower attrition rate AI for prospects Already live Increased prospect interaction via chat Chats mostly managed by AI 24 Section 4: Key Messages 25 Fineco - Built to win 10+ years listed: delivering value to all stakeholders Winning clients' trust leveraging on our core-values Efficiency Transparency Convenience A leading growth story… Fineco TFA growth + 6.7 pp CAGR vs system (2014-2024) …delivering rock-solid returns 25 % ROE FY25 Market share gained. Quality uncompromised. Stakeholders' interests aligned. 26 Fineco, a track record of healthy and sustainable growth A healthy & solid commercial trajectory… …translated in quality & growing results thanks to our scalable operating platform CAGR 964 49 Clients (thd, ) +6% TFA (bn, €) +11% 1,800 161 CAGR 429 190 155 44 Revenues (1) (mln) +11% Costs (1) (mln) +6% Net profit (1) (mln) +14% Cost/Income (1) (%) -17p.p. 1,317 356 650 27 2014 2025 2014 2025 (1) Figures adjusted by non-recurring items and Net Profit adjusted net of systemic charges 27 Fineco: all business areas to sustain revenue growth Strong acceleration in client growth to drive higher revenue contribution across our diversified model Banking High quality NII thanks to sticky transactional liquidity Cost of funding close to 0 Investing Quality and Future-proof revenues thanks to Recurring ManFees Transparent approach (advisory solutions) & increasing FAM penetration Structurally hedged model to deliver sustainable & quality growth Net Profit (CAGR, quarterly basis, adjusted) (1) , mln +13% 200 Brokerage AUC growth leading to a structurally higher correlation with revenues over time More efficient value chain thanks to our new initiatives 150 100 50 (1) Figures adjusted by non recurring items 0 2014 1Q26 28 Technology - The Engine behind Fineco scalability A proven platform, a clear plan, and the conviction to execute it Track record 99.9 %+ Availability IT Cost / Revenue vs 11.6% avg ~ 6 % Op. losses from tech, cyber & fraud << 1 bps Customers served 1.8 M ~ 430 M Digital accesses/yr The next phase demands more: new markets, AI at enterprise scale, a platform that must grow without growing costs. We have the foundations, the architecture, and the team to deliver. MYP targets 2026-2029 TCO stable, volumes up Full stack control drives cost discipline - tech cost grows slower than revenue and customers AI in core processes From foundation to enterprise-scale integration - driving revenue and efficiency across the bank Pan-European expansion European launch with minimal incremental tech cost - platform already built to replicate Investor message: Fineco's technology platform delivers top-tier efficiency today - and is architected to scale profitably across the Multi-Year Plan. 29 Our Sustainability commitment Combining business growth and financial strength with the principles of sustainability, in order to create long-term value for all Stakeholders Best-in-class governance framework and strong responsible finance practices to sustain a low-risk business model and drive relentless improvement in the Group's reputation Strengthening Responsible Finance Enhancement of financial education Promotion of responsible trading Development of ESG products and services Upskill of ESG know-how of PFAs Spreading sustainability culture Empowerment of gender equality and diversity Promotion of a culture of sustainability for the stakeholders and the community Strengthening governance best practices Improvement of best practices through third-party certification Maintain a low cyber and ICT risk level Environmental commitment and supply chain oversight 2050 Net Zero Targets and EMAS certification Improvement of the environmental and social oversight across the supply chain 30 Annex 31 PGL reclassified mln 1Q25 2Q25 3Q25 4Q25 FY25 1Q26 Net Financial Income 161.3 153.7 156.6 161.4 633.1 163.0 Net Non Financial Income 167.7 162.7 168.2 186.1 684.7 180.6 Net Other expenses/income 0.2 -1.3 0.5 -0.7 -1.3 -0.7 Total revenues 329.3 315.1 325.3 346.9 1316.5 342.9 Staff expenses -36.4 -37.4 -37.7 -39.0 -150.5 -39.3 Other admin.exp. net of recoveries -44.4 -41.5 -42.1 -50.1 -178.0 -48.8 D&A -6.5 -7.0 -7.0 -7.2 -27.7 -7.0 Operating expenses -87.2 -85.9 -86.8 -96.3 -356.3 -95.1 Gross operating profit 242.0 229.2 238.5 250.5 960.2 247.8 Other charges and provisions -3.8 -3.9 -3.4 -8.2 -19.4 -4.9 LLP -0.9 -1.7 -1.2 -0.9 -4.7 -1.4 Net income from investments -1.0 -0.1 0.2 0.1 -0.7 -0.3 Profit before taxes 236.4 223.5 234.1 241.5 935.5 241.1 Income taxes -72.2 -69.9 -71.4 -75.0 -288.5 -78.9 Net profit for the period 164.2 153.6 162.7 166.5 647.0 162.2 32 1Q26 PGL FinecoBank and Fineco Asset Management mln Fineco Asset Management FinecoBank Individual FinecoBank Consolidated Net Financial Income 0.1 162.9 163.0 Net Non Financial Income 47.2 133.5 180.6 o/w Dividends 0.0 0.0 0.0 Net other expenses/income -0.5 -0.2 -0.7 Total revenues 46.8 296.2 342.9 Staff expenses -4.0 -35.3 -39.3 Other admin.exp. net of recoveries -2.6 -46.2 -48.8 D&A -0.1 -6.9 -7.0 Operating expenses -6.8 -88.4 -95.1 Gross operating profit 40.0 207.8 247.8 Other charges and provisions 0.0 -4.9 -4.9 LLP 0.0 -1.4 -1.4 Net income from investments 0.0 -0.3 -0.3 Profit before taxes 40.0 201.1 241.1 Income taxes -6.1 -72.8 -78.9 Net profit for the period 33.9 128.3 162.2 33 Details on Net Interest Income mln 1Q25 Volumes & Margins 2Q25 Volumes & Margins 3Q25 Volumes & Margins 4Q25 Volumes & Margins FY25 Volumes & Margins 1Q26 Volumes & Margins Financial Investments 106.7 26,768 105.4 27,511 110.2 28,603 114.9 29,259 437.2 28,035 117.7 29,656 Net Margin 1.62% 1.54% 1.53% 1.56% 1.56% 1.61% Gross margin 119.2 1.81% 115.9 1.69% 118.9 1.65% 122.0 1.65% 476.0 1.70% 123.6 1.69% Leverage - Long 4.1 146 3.1 113 3.6 132 3.9 144 14.6 134 3.6 136 Net Margin 11.42% 10.89% 10.75% 10.73% 10.95% 10.72% Tax Credit 9.2 1,216 8.2 992 7.3 814 6.8 813 31.6 959 6.1 773 Net Margin 3.08% 3.31% 3.58% 3.32% 3.29% 3.22% Lending 41.5 4,783 38.2 4,809 35.6 4,822 36.2 4,913 151.4 4,832 36.1 4,937 Net Margin 3.52% 3.18% 2.93% 2.93% 3.13% 2.96% Other -0.3 -0.2 0.5 -0.4 -0.3 -0.3 Total 161.2 154.6 157.3 161.4 634.5 163.2 Gross Margin 2.14% 1.98% 1.91% 1.91% 1.98% 1.94% Cost of Deposits -0.15% -0.13% -0.10% -0.08% -0.11% -0.07% 3M EUR (avg) 2.56% 2.11% 2.01% 2.04% 2.18% 2.05% Volumes and margins: average of the period Net margin calculated on real interest income and expenses 34 Focus on Bond portfolio Low risk driven by sticky transactional liquidity Bond portfolio run-offs: a clear opportunity by reinvestment yields Fixed rate bonds Floating and swapped bonds (3) Avg yield of fixed rate bonds, bps Avg spread vs EUR 3M of floating and swapped bonds, bps (4) C bn, eop 8.1 1.0 0.2 0.8 4.2 3.4 0.8 7.1 1.0 5.6 4.2 1.4 2.7 1.9 0.8 3.1 1.6 1.5 2.3 1.1 1.1 0.0 0.00.0 296 193 84 117 44 -12 A safe and diversified Bond Portfolio A diversified blend of EU govies, supranational and agencies C bn, eop 27.0 bn 0.7 Italy Spain Other Govies (1) SSA (2) Covered & Financial 8.6 6.3 7.7 3.8 2026 2027 2028 2029 2030 2031 2032 2033 o/w 75% at fixed rate, avg yield: 172 bps o/w 25% at floating rate (swapped), avg spread: 18 bps on 3m Eur 2.1 (3) years Avg duration years 3.1 Avg maturity (1) "Other" includes: 1.7bn France, 1.1bn Austria, 0.9bn Belgium, 0.8bn Ireland, 0.7bn USA, 0.3bn Portugal, 0.2bn Germany, 0.2bn Chile, 0.2bn China, 0.1bn Saudi Arabia, 0.1bn other (2) Sovereign Supranational Agencies and Local Authority (3) Calculated considering hedging bonds (4) Almost the entire bond portfolio not at fixed rate is swapped 35 Net Commissions by product area mln 4Q24 1Q25 2Q25 3Q25 4Q25 FY25 1Q26 Banking 12.9 11.1 11.4 12.1 15.3 50.0 12.5 Brokerage 29.6 37.1 31.2 31.1 38.2 137.5 40.4 o/w Equity 24.2 28.5 24.8 26.2 29.2 108.7 31.9 Bond 2.4 5.8 3.6 1.8 6.5 17.6 5.6 Derivatives 2.9 3.1 2.7 2.3 2.6 10.7 3.0 Other commissions 0.1 -0.2 0.1 0.7 -0.1 0.5 -0.2 Investing o/w Placement fees 99.9 1.7 94.9 2.3 97.9 2.5 104.0 2.8 108.5 2.2 405.3 9.8 102.5 2.0 Management fees 113.3 114.9 114.4 120.5 125.1 474.8 124.9 to PFA's: incentives -9.3 -8.6 -8.7 -9.4 -11.5 -38.2 -9.3 to PFA's: LTI -0.6 -0.5 -0.6 -0.6 0.1 -1.6 -0.7 Other PFA costs -8.5 -13.3 -9.7 -9.3 -9.8 -42.1 -14.5 Other commissions 3.4 0.0 0.0 0.0 2.5 2.5 0.0 Other (Corporate Center) -2.6 -2.7 -2.7 -2.7 -2.7 -10.9 -2.7 Total 139.9 140.4 137.8 144.4 159.3 581.9 152.6 Managerial Data 36 Revenues breakdown by product area mln 1Q25 2Q25 3Q25 4Q25 FY25 1Q26 Net Financial Income 151.9 145.2 146.7 152.0 595.8 154.0 Non Financial Income 10.8 11.1 12.3 15.8 50.0 12.3 Other 0.1 -0.3 0.0 -0.4 -0.5 -0.5 Total Banking 162.8 156.0 159.0 167.4 645.2 165.8 48% Net interest income 4.5 3.2 3.8 4.3 15.9 3.9 Non Financial Income 64.4 56.2 54.7 64.6 239.9 68.7 Other 0.0 0.0 0.0 0.0 0.0 0.0 Total Brokerage 69.0 59.5 58.5 68.8 255.8 72.6 21% Net interest income 0.0 0.0 0.0 0.0 0.0 0.0 Non Financial Income 94.9 97.9 104.0 108.5 405.3 102.5 Other -0.4 -0.5 -0.3 -0.4 -1.6 -0.5 Total Investing 94.5 97.4 103.7 108.1 403.7 102.0 30% % on total revenues for each product area Managerial Data. Revenues attributable to single each product area, generated by products / services offered to customers according to the link between products and product area. Banking includes revenues 37 generated by deposits, treasury and credit products. Investing includes revenues generated by asset under management products; Brokerage includes revenues from trading activity. Breakdown Total Financial Assets mln Mar.25 Jun.25 Sep.25 Dec.25 Mar.26 AUM 66,319 68,606 71,237 74,041 73,873 Funds and Sicav 45,596 47,513 49,782 51,814 51,693 Insurance 12,744 12,610 12,511 12,493 12,289 AUC under advisory 7,482 7,967 8,355 9,114 9,264 Other 497 516 590 620 627 AUC 46,817 49,196 52,489 54,828 56,721 Equity 15,972 17,089 18,509 19,046 18,746 Bond 21,649 21,979 22,594 23,382 24,647 ETF 8,907 9,893 11,222 12,269 13,211 Other 289 235 164 132 117 Direct Deposits 29,119 30,013 30,849 31,682 31,508 Total 142,255 147,814 154,575 160,552 162,101 o/w TFA FAM retail 25,353 26,520 27,735 29,077 29,125 o/w TFA Private Banking 68,743 72,581 77,580 81,434 81,247 o/w Advanced Advisory Service 34,498 35,944 37,552 39,547 39,465 2025 stock of AUM and AUC have been recasted to move FAM's ETFs into the "Other" AUM line (previously accounted into AUC and "AUC under advisory") 38 TFA and Net Sales evolution 69.3 48% 20% 32% Dec.18 18% 81.4 50% 19% 31% Dec.19 21% 49% 51% 49% 47% 35% 20% 31% Dec.20 23% 21% 27% Dec.21 27% 67.2 50% 20% 30% Dec.17 29% 32% 34% 23% Dic.23 34% 21% Dec.24 38% 20% Dec.25 39% 19% Mar.26 39% 48% Breakdown of Total Financial Assets C bn 46% 162.1 AuM AuC Deposits 140.8 122.6 107.9 106.6 46% 160.6 FAM retail / total AUM 91.7 47% 49.3 24% 28% Dec.14 55.3 48% 24% 28% Dec.15 60.2 48% 21% 31% Dec.16 22% 29% Dec.22 30% Breakdown of Total Net Sales C bn 13.4 AuM AuC Deposits 10.7 8.8 2.7 4.0 3.1 -0.2 1.2 5.5 2.7 0.9 1.9 5.0 1.9 2.9 2014 2015 2016 6.0 4.0 1.5 0.5 2017 6.2 2.3 1.8 2.1 5.8 3.3 9.3 4.3 7.3 10.3 3.6 10.1 4.1 5.5 2018 3.5 -1.0 2019 2.5 2.5 1.9 1.5 5.6 1.1 8.3 4.8 1.2 6.0 2.0 2020 2021 2022 -2.1 2023 2024 2025 3.2 1.1 2.7 -0.6 1Q25 4.6 1.2 3.6 -0.2 1Q26 0.3 39 Fineco: a safe, liquid and diversified Balance Sheet Balance Sheet 37.4 bn 2.1 Assets Financial Assets (1) Loans to customers Due from Banks (2) Other Liabilities Due to customers Other liabilities Equity 2.7 2.5 32.2 2.3 6.3 26.8 Transactional liquidity: Cost of funding close to 0 Driven by our clients' valuable transactional liquidity and not by lending (no costs and provisions due to NPL) 412 % NSFR Selective Lending Ancillary business offered only to our well-known base of retail clients No corporate lending Low risk bond portfolio Diversified blend of EU govies, Supranational and Agencies Financial assets as reported in the Balance Sheet include the variation in the fair value of hedged bonds for the portion attributable to the risk hedged with the derivative instrument Due from banks includes 1.5bn cash deposited at Bank of Italy and 0.2bn bank current accounts as of Mar.26 40 Attention : This is an excerpt of the original content. 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