Πειραιώς Επιχειρηματικό πλάνο 2026-2030

Europe's Best Growth Story

The Next Chapter

1

March 2026

EUROPE'S BEST GROWTH STORY - THE NEXT CHAPTER 2026-2030

CONTENTS

01 Piraeus Strategic Plan 2026-2030

02 Greece: The Next Chapter

03 Ethniki Insurance: A New Era

04 Why Own Piraeus: Europe's Best Growth Story

05 Annex

2

Piraeus Strategic Plan 2026-

PIRAEUS STRATEGIC PLAN 2026-2030

Our 2026-2030 plan: the best-performing financial services group in Greece

4

PIRAEUS STRATEGIC PLAN 2026-2030

Our core strengths: leading Bank in Greece, with a wide omni-channel platform

Leading bank in Greece

Ranking first across business lines

Client base

4.5 mn

Client deposits & AuM

€80 bn

Client loans

€37 bn

Deposit market share

28%

Market recognition

Execution excellence across the board

Investment grade

Total shareholder

return 2025

+84%

5

A one-stop shop for financial services

Omni-channel distribution platform

Branches

370

ATMs

1,500

Digital clients

3.2 mn

Piraeus app rating

4.7/5.0

A sustainable way of banking

Creating positive impact

Loans to SME/

small businesses

€8 bn/

€3 bn

Farmers

serviced

700 k

Sustainable

financing

€5 bn

Only AAA company in Greece

PIRAEUS STRATEGIC PLAN 2026-2030

Five integrated business segments driving growth

2025 total net revenues

6

Developed market transition in 2026

Investment grade rating

Sovereign credit spreads converged to core Europe

Insurance premia/GDP 2%

Assets under mngt/GDP 12%

Loans/GDP 84%

Government debt/GDP down

30ppts in 3 years (2023-25)

Government primary balance at 4% of GDP

Unemployment continues

to decline

Outperforming GDP growth vs EU average

PIRAEUS STRATEGIC PLAN 2026-2030

Highly supportive Greek macro

7

PIRAEUS STRATEGIC PLAN 2026-2030

Greek sovereign spread has converged with Italy and France

(%)

2.5

2

1.5

1

0.5

Greece France Italy

0

2023 2024 2025 2026

8

PIRAEUS STRATEGIC PLAN 2026-2030

Greece growing sustainably faster than European average

(annual % change)

5.5

2.1 2.1 2.1 1.9

1.6 1.5 1.6

2022 2023 2024 2025e 2026e 2027e 2028e 2029e

Greece Euro area

9

PIRAEUS STRATEGIC PLAN 2026-2030

Unemployment at historic low, trending even lower

(annual % change)

12.4

11.1

10.1

9.6

8.8

8.3 7.9 8.0

2022 2023 2024 2025e 2026e 2027e 2028e 2029e

Greece Euro area

10

PIRAEUS STRATEGIC PLAN 2026-2030

Continued primary surpluses reflect sustained fiscal discipline

(% of GDP)

4.7

3.7

2.8 2.7 2.7 2.7

2.0

-0.1

2022 2023 2024 2025e 2026e 2027e 2028e 2029e

11

PIRAEUS STRATEGIC PLAN 2026-2030

Debt to GDP ratio heading sharply lower

(% of GDP)

178

164

154

146

138

132

125

119

2022 2023 2024 2025e 2026e 2027e 2028e 2029e

12

PIRAEUS STRATEGIC PLAN 2026-2030

Piraeus: a proven track-record of solid performance

13

+€3.9 bn

+11% yoy

Net new loans

+€3.2 bn

+5% yoy

New deposits

€1.1 bn

Net profit

15.5%

RoaTBV

55%

Payout ratio

for 2025

7%

distribution

yield (on Dec.25 mcap)

PIRAEUS STRATEGIC PLAN 2026-2030

2025 results provide the launch-pad

14

Snappi neobank launch

18.7%

Total capital

ratio

275bps

P2G buffer

-25 bps P2G

from 01.01.26

€700 mn

Revenues

from services

0.8% over

assets,

best in class

Ethniki Insurance acquisition

33%

best in class

Cost-to-income

+€3.1 bn

+27% yoy

AuM growth

PIRAEUS STRATEGIC PLAN 2026-2030

Piraeus 2030: strategic priorities and targets

Grow strongly and profitably

Further increase efficiency

Optimize capital allocation

15

PIRAEUS STRATEGIC PLAN 2026-2030

STRA TEG IC PRIORITIES

high si ngle dig it CAGR

~56bn

37bn

2025

2030

66bn

mid sing le digit CAGR

~76bn

2025

2030

14.5bn

high si ngle digit CAGR

>20bn

2025

2030

Insurance premia mid teens C AGR

~1.6bn

0.8bn

2025

2030

16

PIRAEUS STRATEGIC PLAN 2026-2030

STRA TEG IC PRIORITIES

2

Enhanced productivity

Client volumes per employee up 40% in the period up to 2030

Integrated platforms and ecosystems increasing productivity

Cost-to-income

33%

~30%

2025

2030

Insurance expense rate

13% ~8%

2025

2030

Efficiencies from AI and technology

~€70mn

(~80% in the plan)

17

PIRAEUS STRATEGIC PLAN 2026-2030

STRA TEG IC PRIORITIES

1

Manage capital to 12.5% CET1

target

2

Consistent increase of distribution payouts and DPS

3

Entrepreneurial and nimble culture

Preservation of P2G and MDA buffer at all times

Organic capital generation will enable funding of growth, distributions and adequate buffers

Payouts to rise from current 55% to 65% of net profit

Aggregate cash dividends of ~€4.0 per share over 2025-2030, ~17% CAGR

Increasing contribution of capital-light business lines

Capital relief through active portfolio management (including SRTs)

>200bps buffer

of P2G and MDA

~€5bn distribution

to be paid out of 2025-2030

From single digit to mid-teens

contribution in revenues

18

PIRAEUS STRATEGIC PLAN 2026-2030

Piraeus key strategic enablers

1. Piraeus franchise

370 branches

4k client-facing RMs Top-ranked e-banking

~1,500 ATMs

2. Risk

management

Centralized and prudent underwriting

2% NPE ratio, on par with EU average

Provision coverage above EU average

3. Services platform

Innovative digital client solutions

Integrated channels to form a seamless client experience

Third parties' contribution for insurance

4. AI and technology

5. People and culture

27% digital sales

penetration vs 19% two years ago; pace to accelerate

Tech innovation and new advancements in AI and Agentic to drive efficiency gains

Culture based on performance, digitalization and agility

Rejuvenation of workforce underway; people development and intense training initiatives

19

PIRAEUS STRATEGIC PLAN 2026-2030

K EY EN A BLERS: PIRA EUS FRA N CH ISE A N D SERVICES PLA TFORM

1. Piraeus franchise power 2. Services platform

Unparalleled branch network delivery; nationwide presence

Above 30% market share in more than 75% of the country's regions

Sales focus: 4.5x cross-sell ratio

Leading position across client age groups

4k sales-focused RMs, evaluated with concrete performance KPIs

Complete range of physical and digital client solutions

Diversification to protection, for life, property and casualty insurance, post-acquisition of Ethniki Insurance in 2025

AI-enabled tailor-made offerings for wealth and asset management

Two pillar strategy: attack neobanks (Snappi), defend young and tech-savvy portion of own clientele (Piraeus app)

20

PIRAEUS STRATEGIC PLAN 2026-2030

K EY EN A BLERS: PIRA EUS FRA N CH ISE A N D SERVICES PLA TFORM

Snappi: the Group's neobank

Greenfield development of next-era retail banking(e.g., branchless distribution, embedded banking)

Value proposition tailored to digital savvy segments without impacting current customer base

Products: bank account, debit card, payments, savings account, pay later, cash now, 24/7 customer service

Low-capex expansion model with no branches

October 2025 operationally launched

300k clients in the next 12 months

Client solutions for short term loans and micro investing

Extensive use of partnerships

Customer loyalty based on simplicity,

speed and rewards

Product innovation

Cash Now, instant interest-free loan up to €1,000 Savings account, 1% interest

Experiential services Partnerships with Tier-1 brands

Gamification- community creation

21

PIRAEUS STRATEGIC PLAN 2026-2030

K EY EN A BLERS: RISK MA N A G EMEN T

1. Disciplined growth, maintaining focus on quality

   Actions

   1

   Prudent

   underwriting

   2

   Solid coverage of exposures

   3

   Favorable position in the credit cycle

   Proactive risk management and solid control framework

   CIB risk-adjusted return at ~16% (2025)

   Cash coverage of loan portfolios at above EU average levels

   Highly collateralized credit portfolio

   Greece only recently emerged from trough

   Post crisis lessons have shaped a discipline and profitability driven sector

   Ambition

   CIB

   NPE ratio ~1.0%

   Mortgage LTV 50%

   73% of exposures collateralized Sector CoR in Greece

   2023

   2024

   2025

   22

   0.4%

PIRAEUS STRATEGIC PLAN 2026-2030

K EY EN A BLERS: A I A N D TECH N OLOG Y

1. Concrete actions to accelerate client engagement, fueling growth

   Digital Expansion

   +12% Mobile active users (vs '24)

   22%

   Digital customer onboarding

   (+6% over Southern Europe average)

   +32% Transactions on mobile (vs 2024)

   Customer Engagement

   27%

   Digital sales penetration

   (vs 19% 2024 -on par with Southern Europe 27%)

   20mn Self-service actions, up by 17% yoy

   97%

   Retention rate

   Percentage of users remaining active after a three-month period

   Agentic AI innovation

   in progress (examples)

   Network

   First point of contact

   CIB

   Automated pitch, analytics and credit

   Wealth and asset management

   Automated advisory

   Central functions

   Transactional processes

   Compliance

   Triage review and assessment

   Risk

   Monitoring, early warning

   Marketing

   Campaign design and execution

   23

   
   
   
   
   

   PIRAEUS STRATEGIC PLAN 2026-2030

   K EY EN A BLERS: PEOPLE A N D CULTURE

2. Talent retention, skillset and high engagement

(2026-30)

> 35

18-25

26-35

5%

10%

>12%

2022

2025

2030

24

PIRAEUS STRATEGIC PLAN 2026-2030

1. CIB: expansion powered by an unparalleled delivery-focused platform

   Actions Ambition
   
   

   1 Grow strongly and profitably	Diversified expansion: infrastructure, hospitality, energy, shipping, SME, agri
   	Leverage expertise on structured finance
   	€3.25bn net credit expansion per year (2026-30)

   CIB loans at 10% CAGR €27bn

   2025

   €42bn

   2030

   
   
   

   2

   Further increase efficiency

   
   
   

   3

   Optimize capital allocation

   Client-level value-based target setting for SMEs (already in place for large corporates)

   Boost RM effectiveness with AI and technology

   Active portfolio management, including SRTs

   Safeguard RaROC and spread levels, currently at 16% for CIB

   Net promoter score at >30 by 2030

   from 27 in 2025

   Capital consumption (% of Group) ~50%

   2025

   25

   
   
   
   
   

   PIRAEUS STRATEGIC PLAN 2026-2030

2. Retail: accelerated growth, fueled by innovation

   Actions
   
   

   1

   Grow strongly

   and profitably

   New mortgages disbursements at €1.2bn from €0.7bn in 2025

   Consumer to €0.7bn from €0.4bn respectively

   2

   Further increase efficiency

   Reduce time-to-cash through digitalization

   Ecosystems and embedded finance leverage

   
   
   

   3

   Optimize capital allocation

   Attractive cash collateral offerings

   Increasing contribution from mortgages

   
   
   Ambition Retail net credit expansion €0.3bn

   2025

   ~€0.7bn

   2030

   Insurance penetration 22%

   2025

   >30%

   2030

   Capital consumption (% of Group) ~15%

   2025

   26

   
   
   
   
   

   PIRAEUS STRATEGIC PLAN 2026-2030

3. Wealth & asset management: tailor-made solutions to drive AuM growth

   Actions Ambition
   
   AuM

   1

   Grow strongly

   and profitably

   
   
   

   2

   Further increase efficiency

   Continuous enhancement of product offerings

   New solutions for next-gen, digital assets and crypto

   Rolled out Robo4Advisors platform in private banking and retail

   AI agents for automation of processes and enhancement of customer journeys

   €14.5bn

   2025

   Fees €106mn

   2025

   >€20bn

   2030

   >€150mn

   2030

   
   
   

   3

   Optimize capital allocation

   Increase high yielding client assets from c.80% to c.85% of total AuM

   Increase contribution to Group with low capital consumption

   Capital consumption (% of Group) Single digit

   2025

   27

   
   
   
   
   

   PIRAEUS STRATEGIC PLAN 2026-2030

4. Insurance: an area of sizeable opportunity for the Group, bringing growth and profit

2025

2030

2025

2030

3

Optimize capital allocation

Solvency optimization (e.g. real estate portfolio gradual divestment)

High quality, sustainable investment income

2025

2030

28

PIRAEUS STRATEGIC PLAN 2026-2030

Piraeus: Europe's best growth story - the next chapter

~18%

RoaTBV

2030, 15%-18% throughout the period

~30%

C:I

average 2026-2030

>20

Client net promoter score

2030, from current 14

~10%

EPS

CAGR 2025-2030

~17%

Dividend/share

CAGR 2025-2030

13%

TBVPS + DPS

CAGR 2025-2030

29

Greece:

The Next Chapter