Bank of Cyprus Group

Group Financial Results For the six months ended 30 June 2025

DISCLAIMER

The financial information included in this presentation including the interim Condensed Consolidated Financial Statements for the six months ended 30 June 2025 has not been audited by the Group's external auditors.

The Group's external auditors have conducted a review of the Interim Condensed Consolidated Financial Statements in accordance with the International Standard on Review Engagements (Ireland) 2410 "Review of Interim Financial Information performed by the Independent Auditor of the Entity".

This financial information is presented in Euro (€) and all amounts are rounded as indicated. A comma is used to separate thousands and a dot is used to separate decimals.

Important Notice Regarding Additional Information Contained in the Investor Presentation

The presentation for the Group Financial Results for the six months ended 30 June 2025 (the "Investor Presentation"), available on https://bankofcyprus.com/en-gb/group/investor-relations/reportspresentations/financial-results/, includes additional financial information not presented within the Group Financial Results Press Release (the "Press Release"), primarily relating to (i) NPE analysis (movements by segments and customer type), (ii) rescheduled loans analysis, (iii) details of historic restructuring activity including REMU activity, (iv) income statement by business line, (v) interest income/expense analysis, (vi) net interest income sensitivities, (vii) loan portfolio analysis in accordance with the three-stages model for impairment of IFRS 9, (viii) fixed income portfolio per issuer type and (ix) income statement of insurance and payment solutions business. Except in relation to any non-IFRS measure, the financial information contained in the Investor Presentation has been prepared in accordance with the Group's significant accounting policies as described in the Group's Annual Financial Report 2024 and updated in the Interim Financial Report 2025. The Investor Presentation should be read in conjunction with the information contained in the Press Release and neither the financial information in the Press Release nor in the Investor Presentation constitutes statutory financial statements prepared in accordance with International Financial Reporting Standards.

Forward Looking Statements

This document contains certain forward-looking statements with respect to the financial condition, results of operations and business of Bank of Cyprus Holdings Public Limited Company (together with Bank of Cyprus Public Company Limited, the 'Bank', and its subsidiaries, the 'Group') ''and its current goals and expectations relating to its future financial condition and performance, the markets in which it operates and its future capital requirements.

These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. Forward-looking statements can usually be identified by terms used such as 'achieve', 'aim', 'anticipate', 'assume', 'believe', 'continue', 'could', 'estimate', 'expect', 'goal', 'intend', 'may', 'project', 'plan', 'seek', 'should', 'target', 'will' or similar expressions or variations thereof or their negative variations, but their absence does not mean that a statement is not forward-looking. Forward-looking statements can be made in writing but also may be made verbally by directors, officers and employees of the Group (including during management presentations) in connection with this document. Examples of forward-looking statements include, but are not limited to, statements relating to the Group's near term, medium term and longer term future capital requirements and ratios, intentions, beliefs or current expectations and projections about the Group's future results of operations, financial condition, expected impairment charges, the level of the Group's assets, liquidity, performance, prospects, anticipated levels of growth, provisions, impairments, business strategies and opportunities, capital generation and distributions (including distribution policy), return on tangible equity and commitments and targets (including environmental, social and governance (ESG) commitments and targets). By their nature, forward-looking statements involve risk and uncertainty because they relate to events, and depend upon circumstances, that will or may occur in the future. Factors that could cause actual business, strategy and/or results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements made by the Group include, but are not limited to: general economic and political conditions in Cyprus, other European Union (EU) Member States and globally, interest rate and foreign exchange fluctuations, legislative, fiscal and regulatory developments, information technology, litigation and other operational risks, adverse market conditions, the impact of outbreaks, epidemics or pandemics and geopolitical developments. This creates significantly greater uncertainty about forward-looking statements. Should any one or more of these or other factors materialise, or should any underlying assumptions prove to be incorrect, the actual results or events could differ materially from those currently being anticipated as reflected in such forward-looking statements. The forward-looking statements made in this document are only applicable as at the date of publication of this document. Except as required by any applicable law or regulation, the Group expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement contained in this document to reflect any change in the Group's expectations or any change in events, conditions or circumstances on which any statement is based. Changes in our reporting frameworks and accounting standards may have a material impact on the way we prepare our financial statements. In setting future targets and outlook, the Group has made certain assumptions about the macroeconomic environment and the Group's businesses, which are subject to change.

Executive Summary – Updated Financial Target 1. Executive Summary

2. 1H2025 Financial Performance

3. Capital & Asset Quality

4. ESG update

5. Appendix

Appendix

Why Bank of Cyprus

Strong, Supportive Macro Market Leader

Open economy growing faster than the Eurozone average
Fiscal discipline
Sovereign rating; 3 notches above investment grade
Attractive business hub with low tax regime

Diversified & Sustainable Profitability

Holistic offering with integrated bank-insurance-payment model; digitally engaged
Managing the rate normalisation headwinds while investing in new growth initiatives
Strong capital-light non-interest income
Efficiency focus with low cost to income ratio
Market leader in a consolidated market
1 player in Banking sector
1 Life and #2 Non-Life Insurance in Cyprus
1 in domestic card processing and payment solutions

Strong Capital Buffers & Distribution Capacity

Strong, high quality capital base (CET1 of 20.6%) with healthy buffers and organic generation
12%¹ distribution yield paid out of 2024 earnings; c.2x increase in cash dividend yoy
2025 Distribution targeted at top end of payout range (70%)
Introducing interim dividend payments; c.40% payout ratio (€0.20 per ordinary share)

Sustainable high-teens ROTE on 15% CET1 ratio in a normalised c.2% rate environment; 50-70% payout ratio

Resilient and Growing Cypriot Economy Despite Global Financial Instability

GDP expected to grow by c.3.0% in 2025, outpacing Euro area average

Real GDP (yoy % change)

Expected at c.3.0%¹ for 2025 (vs 0.9%² for Eurozone average)

Cyprus inflation controlled at 0.5% in June 2025

Cyprus HICP³ index (yoy% change)

Strong sovereign rating, 3 notches above investment grade

S&P

-5.00%

0.00%

5.00%

Source: Cystat, Eurostat

1) In accordance with Ministry of Finance March 2025 projections and Central Bank of Cyprus June 2025 projections
2) In accordance with Spring 2025 Economic Forecast of European Commission
3) Harmonised Index of Consumer Prices

13%

A diversified, service-based economy

Structure of Economy in 2024 (% of GVA)

Cypriot Economy Outperforming European Average; Fiscal Surplus Since 2022

Strong public debt to GDP, below Euro area average Rebound in public finances from 2022 onwards

Unemployment rate decreased to 4.6% for 1Q2025

Budget surplus as % of GDP

-7.5% -5.5% -3.5% -1.5% 0.5% 2.5% 4.5%

Strong tourism performance, ahead of 1H2024 record arrivals

Tourist revenue Jan-May (€ mn)

4.00% 5.00% 6.00% 7.00% 8.00% 9.00%

2Q2025- Strong Performance Maintained Across Key Metrics

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

Profit after tax flat qoq at €118 mn

Controlled NII reduction as volume growth and deposit behaviour cushions the impact from normalising rates

Cost to income ratio¹at 37%

Cost of risk reduced to 32 bps reflecting strong asset quality

Shareholder Value Creation

1) Pre RWA and other movements, based on profit after tax (pre-distributions) and after AT1 coupon payment (where applicable).

	1H2025	2025 Targets (set in February 2025)
Net Interest Income	€368 mn	<€700 mn	Upside
Average ECB Depo rate	2.6%	2.3%4
Cost to Income Ratio1	36%	c.40%
Cost of Risk	36 bps	Towards the lower end of normalised levels of 40-50 bps
Organic capital generation2	215 bps	c.300 bps	Upside
ROTE reported	18.4%	Mid-teens	Towards the upper end of the range
ROTE on 15% CET1 ratio	26.0%	High-teens	Exceed
Distributions (payout3 )	c.40% interim dividend	50-70% Introduction of interim dividends to be considered	70%

2025 Guidance: 70% Distribution and Upside to ROTE Target

1) Excluding special levy on deposits and other levies/contributions

2) Pre RWA and other movements, based on profit after tax (pre-distributions) and after AT1 coupon payment (where applicable)

3) Calculated based on profit after tax before non-recurring items (attributable to the owners of the Company) taking into consideration the distributions from other equity instruments such as AT1 coupon; Subject to market conditions as well as the outcome of the Group's ongoing capital and liquidity planning strategy at the time.

4) Please refer to slide 60 for the analysis of forward curves

2025 Distribution at 70% and Initiation of Interim Dividend

2) Calculated on adjusted recurring profitability 3) Based on the share price as at 30 June 2025

Buyback Cash dividend

2022

Building a strong track record of attractive shareholder returns

✓ 2025 Distribution targeted at 70% payout ratio1,2, at the top end of Distribution Policy of 50-70% payout ratio
✓ Initiation of interim dividend at c.40% payout ratio (€87 mn) out of 1H2025 earnings
- €0.20 per ordinary share; 3%³ dividend yield
✓ Delivered €400 mn cumulative distributions in 3 years; 24% of market cap⁴

1) Subject to market conditions as well as the outcome of the Group's ongoing capital and liquidity planning strategy at the time and AGM approval

2025 Distribution planned at top end of payout range

% of market cap

2023 2024 2025

Interim dividend 112

1. Executive Summary

2. 1H2025 Financial Performance

Executive Summary – Updated Financial Target

3. Capital & Asset Quality

4. ESG update

5. Appendix

Appendix

1H2025-Highlights
Economic growth to continue	• Strong Cypriot economy growing faster than Euro area average • Strong new lending of €1.6 bn in 1H2025, up 31% yoy, driven mainly by international and corporate demand • Gross performing loans at €10.66 bn, up 5% since December 2024
Attractive profitability	• Profit after tax of €118 mn for 2Q2025, flat qoq; €235 mn for 1H2025 Cost to income ratio1 • at 36% • ROTE of 18.4% ahead of target; Basic earnings per share of €0.54
Liquid and resilient balance sheet	• NPE ratio reduced to 1.7% • Cost of risk at 36 bps • Retail funded deposit base at €20.9 bn, up 6% on a yearly basis
Robust capital position	• Regulatory CET1 ratio at 20.6% and Total Capital ratio at 25.8% • Organic capital generation2 of 215 bps in 1H2025 • Tangible book value per share of €5.80 as at 30 June 2025, up 10% yoy
Enhanced shareholders returns	• Introduction of interim dividend; 2025 interim set at c.40% payout ratio (€0.20 per ordinary share) 2025 distribution targeted at 70%3 • payout ratio

1) Excluding special levy on deposits and other levies/contributions 2) Pre RWA and other movements, based on profit after tax (pre-distributions) and after AT1 coupon payment (where applicable)
- 12 3) Subject to market conditions as well as the outcome of the Group's ongoing capital and liquidity planning strategy at the time and AGM approval

Income Statement

€ mn	1H2025	1H2024	yoy%	2Q2025	1Q2025	qoq%
Net Interest Income	368	420	-12%	182	186	-2%
Non-interest income	141	129	10%	72	69	5%
Total income	509	549	-7%	254	255	0%
Total operating expenses	(181)	(167)	8%	(94)	(87)	7%
Special levies on deposits and other levies/ contributions	(16)	(19)	-17%	(8)	(8)	1%
Operating profit	312	363	-14%	152	160	-4%
Provisions and impairments	(34)	(44)	-20%	(12)	(22)	-41%
Profit before tax	278	319	-13%	140	138	2%
Tax	(42)	(48)	-13%	(22)	(20)	9%
Profit after tax	235	270	-13%	118	117	1%
Key Ratios
Net Interest margin	3.05%	3.66%	-61 bps	2.98%	3.13%	-15 bps
Net Interest margin (excluding TLTRO III)	3.05%	3.79%	-74 bps	2.98%	3.13%	-15 bps
Cost to income ratio1	36%	30%	6 p.p.	37%	34%	3 p.p.
Cost of Risk	0.36%	0.31%	5 bps	0.32%	0.39%	-7 bps
EPS (€)	0.54	0.61	-0.07	0.27	0.27	-
ROTE	18.4%	23.7%	-5.3 p.p.	18.2%	18.3%	-0.1 p.p.
ROTE on 15% CET1 ratio	26.0%	29.6%	-3.6 p.p.	26.1%	25.9%	0.2 p.p.
Adjusted recurring profitability2	222	257	-14%	105	117	-11%

1) Excluding special levy on deposits and other levies/contributions

2) Profit after tax before non-recurring items (attributable to the owners of the Company) taking into consideration the distributions from other equity instruments such as AT1 coupon. Used for the distribution payout ratio calculation, in line with the Distribution Policy 13

Highly Liquid Balance Sheet Being Positioned for Lower Rates

1) Linked to the weighted average of the average interest rate paid on euro-denominated household deposits in the Republic of Cyprus (outstanding amounts) by euro area residents with agreed maturities of up to 2 years as published on the website of the Central Bank of Cyprus and the Bank's cost of wholesale funding
2) Loans with fixed rate period >2 years
3) Does not include the impact of IRSs on hedging of non maturing deposits

Resilient NII Amid Rate Normalisation Cycle Underpinned by Volume Growth and Deposit Behaviour

NII remained strong at €182 mn; NIM at 298 bps Effective yield on assets & cost of funding

Performing loans

Cost of deposits

1H2025 NII down 12% yoy reflecting the normalisation of interest rate environment, as expected
2Q2025 NII down 2 qoq; controlled decline as repricing of liquid assets and variable rate loans partly offset by loan and deposit growth
Cost of deposits reduced to 29 bps reflecting reduction in term deposit pricing
2Q2025 NIM down 15 bps qoq mainly impacted by the lower NII and increase in liquid assets

Outlook

On the back of strong loan growth and improved deposit trends, 2025 NII now better than previously guided; upside to <€700 mn
2026 NII expected to stabilise <€650 mn (unchanged)
1) Calculation for NIM, effective yields on liquids assets and cost of wholesale funding (including cost of hedging), was adjusted to exclude the impact of TLTRO III (repaid in June 2024) on both NII and on interest earning assets & bearing liabilities
2) Does not include the impact of IRSs on hedging of non maturing deposits. Calculation of cost of deposits refined to use the interest expense on deposits annualized (based on year-to-date days) divided by the quarterly average of customers deposits at each quarter end
3) Calculation of cost of wholesale funding has been adjusted to include the respective impact of hedging

Continued Hedging Actions Further Reducing NII Sensitivity

Hedging (€ bn)	Dec 2024	Mar 2025	Jun 2025
Receive fixed IRSs1 on non-maturing deposits	2.91	3.40	3.89
Receive fixed IRSs1 on wholesale funding	1.25	1.25	1.25
Reverse repos2	1.00	1.00	1.00
Fixed rate bonds	3.81	4.07	4.21
Total	8.97	9.72	10.35

Average fixed rate 2.8%

-100 bps	Dec 2022	Dec 2024	Jun 2025

NII sensitivity to parallel shift in interest rates (annualised)⁶

EUR	-€126 mn	-€83 mn	-€74 mn
USD	-€2 mn	-€2 mn	-€1 mn
Total Sensitivity/Total NII	-€128 mn 35%	-€85 mn 10%	-€75 mn 10%

€53 mn reduction since Dec 2022

€0.6 bn additional hedging in 2Q2025, totaling €10.3 bn at 30 June 2025; 42% of interest earning assets (vs 37% at 31 December 2024)
c.€1 bn additional hedging through IRSs³ in 1H2025, achieving 2025 target
Natural hedging on cost of deposits: €2.4 bn base rate loans⁴ at 30 June 2025 (22% of loan book); natural hedging of c.55% of household Time & Notice deposits
€1.2 bn fixed rate loans⁵ as at 30 June 2025

Outlook

Continue managing the balance sheet dynamically subject to market conditions
1) Interest Rate Swaps
2) Collateralised lending agreements between banks
3) Including replacement of existing IRSs maturing in 2026
4) Linked to the weighted average of the average interest rate paid on euro-denominated household deposits in Cyprus by euro area residents with agreed maturities of
up to 2 years as published on the website of the Central Bank of Cyprus and the Bank's cost of wholesale funding
5) Loans with fixed rate period >2 years
6) Based on key assumptions, refer to slide 75

Deposits up 6% yoy; Improved Deposit Pricing and Mix

Deposits at €20.9 bn up 1% qoq; mix at 30%, down 3 p.p. qoq

Cost of deposits in a downward trend, at 0.29%¹ in 2Q2025

Group deposits by UBO country of residence

Cypriot banks have lower L/D ratios compared to Euro area peers

1) Does not include the impact of IRSs on hedging of non maturing deposits

2) Calculation of cost of deposits refined to use the interest expense on deposits annualized (based on year-to-date days) divided by the quarterly average of customers deposits at each quarter end

-10.0 10.0 30.0 50.0 70.0 90.0 110.0

Strong New Lending at €1.6 bn; up 31% yoy

New lending at €760 mn in 2Q2025

Gross performing book² up 5% since December 2024

New lending up 31% yoy, mainly driven by International and Corporate demand
Gross performing loans up 5% since December 2024
International loan book expanded by 16% since December 2024 to €1.1 bn, on track with the target of c.€1.5 bn in the medium-term³
Strong track record of repayment capability; >99% of new exposures⁴ in Cyprus since 2016 are performing

Outlook

• c.4% loan growth target is likely to be exceeded in 2025, with growth skewed in 1H2025 and seasonally slower in 2H2025

1) Includes international corporate, syndicated and shipping

2) Includes Corporate, International corporate, International business services, SME and Retail
3) For a period of 3 years
4) Facilities/limits approved in the reporting period

Fixed Income Portfolio up 21% yoy, Representing 17% of Total Assets

Fixed income securities per category - NBV Fixed income securities per issuer type - NBV

Amortised cost FVOCI
Average contractual duration 3.74 3.20 (years)
Average duration after interest 3.68 0.56 rate hedging (years)
Average rating Aa2 A1

1) Subject to market conditions

2) For a period of 3 years

Non-NII at €72 mn in 2Q2025, up 5% qoq

Non-NII continues covering 70-80% of total operating expenses⁵

Non-NII up 10% yoy reflecting;
- Higher net fee and commission income by 2% yoy, primarily due to higher non-transactional fees
- Higher REMU gains on the back of the elevated sales performed in 2Q2025, in line with the Group's disposal acceleration strategy
- Higher net foreign exchange gains and net gains on financial instruments reflecting mainly revaluation gains on financial instruments
- Net FX gains/(losses) & net gains/(losses) on financial instruments and REMU are volatile profit contributors
Non-NII up 5% qoq reflecting one-off positive REMU contribution

Outlook

• Net fee and commission income to grow by c.4% p.a. over the medium-term⁴

1) Relates to insurance receivable and release of lease liability
2) Net FX gains/(losses) & Net gains/(losses) on financial instruments and other income
3) Gains/(losses) from revaluation and disposal of investment properties and on disposal of stock of properties
4) For a period of 3 years
5) Excluding special levy on deposits and other levies/contributions 20

Profitable Life Insurance Business - Valuable and Sustainable Contribution to the Group

107.2

+14%

Become the #1 Life insurance provider

Total regular income up 14% yoy

Total regular income up 14% yoy, driven by increased new business
Solvency ratio at 229% as at 30 June 2025

• Acquisition of Ethniki Insurance Cyprus Ltd completed in July 2025 (refer to slide 23)

• Expands customer franchise, become the #1 Life insurance provider

1) Contribution to the Group. Adjusted to exclude intercompany transactions between insurance companies and the Bank
2) Based on statistics of the Insurance Association of Cyprus (https://www.iac.org.cy/en/statistics/iac-statistical-results). Life market share for Ethniki Insurance has been adjusted to exclude single premiums and include Accident and Health premiums, in line with Bank's approach 21

Profitable Non–Life Insurance Business - Valuable and Sustainable Contribution to the Group

#2 Non-Life insurance provider

Gross Written Premium (GWP)

1) Contribution to the Group. Adjusted to exclude intercompany transactions between insurance companies and the Bank

2) Based on statistics of the Insurance Association of Cyprus ((https://www.iac.org.cy/en/statistics/iac-statistical-results)

GWP up 2% yoy mainly due to increased renewal business
Recurring PAT¹ up 30% yoy mainly due to improved claims experience following the severe weather-related events occurred in 1H2024
Recent wildfires in Limassol are currently estimated to have a pretax impact of <€5 mn
Solvency ratio at 218% as at 30 June 2025
Acquisition of Ethniki Insurance Cyprus Ltd completed in July 2025 (refer to slide 23)

• Strengthening market position, expand customer franchise

Acquisition of Ethniki Insurance Cyprus Ltd Completed in July 2025

Total consideration of €29.3 mn, in cash; c.15 bps capital impact
The transaction is aligned with the strategy of the Group to:
- further solidify leading market positions in both Life and Non-Life markets
- expand insurance operations and customer base
- invest capital in small bolt-on M&A to deliver value to shareholders

INSURANCE (CYPRUS) LTD	ETHNIKI (O) ETHNIKI GENERAL INSURANCE (CYPRUS) LTD

Key financials

3%1 Life market share	4%1 Non-life market share
€22 mn Gross written premiums2	€2 mn Net insurance result2

Strengthening leading position in insurance sector…

…bolstering Non-NII contribution to Group's revenues

+15%² yoy increase in Group's gross written premiums
+ 10%² increase in Group's net insurance result

1) Based on statistics of the Insurance Association of Cyprus for the period 1 January 2024 to 31 December 2024 (https://www.iac.org.cy/en/statistics/iac-statistical-results). Life market share for Ethniki Insurance has been adjusted to exclude single premiums and include Accident and Health premiums, in line with Bank's approach

Leading Card Processing and Payment Solutions Business in Cyprus

Strong transaction growth in value; up 14% yoy

Recurring PAT² Net fee and commission income broadly flat yoy, reflecting increased F&C expense due to higher third-party commissions absorbed internally
- Recurring PAT² down 3% qoq, reflecting higher IT spendings for enhancing technology capabilities aiming to transform JCC to a digital economy service provider over the medium term
- One-stop shop, providing various innovative solutions
- Backed by the Group with 75% stake

Leveraging on Digital Offerings to Enhance Group's Sales and Customer Experience…

Strong results from digital sales, both in banking

Non-life insurance digital sales

…While Continuously Investing in New Digital Initiatives Engaging Clients

Recent key digital initiatives

Micro lending solution
Automated decision making
Flexible repayment plans
Available to the full client base in Mobile app in 1Q2025 and Internet banking in July 2025

Digital Housing Loan

Digital application with instant decision
Variable or fixed interest rates
Personalised solutions proposed
Available to the full client base in Internet banking in 1Q2025 and Mobile app in July 2025

Teens can spend and save money
Parents can securely send money for their teens to use under their watchful eye
Sending money between Joeyers enabled in 1Q2025

Benefits for teens & parents
Instant discounts at selected local merchants
Cash back on selected online gaming merchants
Available to Joeyers since 1 July 2025

JINIUS; Leader in Shaping the Digital Local Economy

Business-to-Business (B2B)

Electronic Invoicing
Remittance management
Tenders management
Ecosystem management

Business-to-Consumer (B2C)

First service launched in April 2024
Product Marketplace (13 product categories, including Fashion, Technology, Beauty etc). Further categories to be introduced
Jinius Mobile Apps (iOS and Android)

Going forward…

Embed banking services & insurance products in Jinius (i.e as Fleksy)
Dealers and Developer Portals will facilitate lending, bringing the Group closer to time and place of need

Progress in 1H2025¹

c. €1.1 bn money exchanged via the platform

Contribution to the Group

Enables seamless access to financial products such as Fleksy, QuickLoans and Insurance products
Non-NII generation through transaction and merchant fees
Increased use of the Group's banking services

2Q2025 Cost to Income ratio¹ at 37%

0.0

0.0 0.5 1.0 1.5 2.0 0.2

91 95

+8%

181

1H2025

167

1H2024

0.4

0.6

0.8

1.0

200

150

Total operating expenses¹ up 8% yoy and 7% qoq

(€ mn)

Cost to income ratio¹ at 36% in 1H2025

Staff costs up 4% yoy due to salary increments and cost-of-living adjustments (COLA) 1.0
Other operating expenses up 8% yoy, mainly due to higher IT spending and professional expenses in 1Q2025 0.8
Other operating expenses to grow by low single digit in FY2025 0.6
Cost to income ratio¹ at 36% for 1H2025, up 6 p.p. yoy, mainly reflecting lower revenues on lower interest rate environment 0.2 0.4

QoQ Performance (2Q2025 vs 1Q2025)

Staff costs broadly flat qoq
Other operating expenses up 4% qoq mainly due to higher marketing fees
Cost to income ratio¹ remains low at 37% for 2Q2025

Outlook

0.0

• Focus on maintaining leading efficiency ratio among European banks of c.40% in 2025, in a c.2% normalised rate environment

1) Excluding special levy on deposits and other levies/contributions

Cost of Risk at 36 bps in 1H2025

Bank's IFRS 9 macroeconomic assumptions

Base line	GDP rate	Unemployment rate
2025	2.9%	4.6%
2026	2.5%	4.5%

Cost of risk at 32 bps (€9 mn) in 2Q2025, down 7 bps qoq, reflecting the continued strong underlying performance of the loan portfolio
Additionally, impairments of €4 mn in 2Q2025 relate to REMU stock properties, mainly as a result of the ageing of the stock

Outlook

• 2025 COR: towards the lower end of normalised levels of 40-50 bps

Quarterly cost of risk

Cost of risk

1. Executive Summary

2. 1H2025 Financial Performance

Executive Summary – Updated Financial Target

3. Capital & Asset Quality

4. ESG update

5. Appendix

Appendix

Robust Capital Position; CET1 at 20.6%

Total capital ratio CET1 ratio

CET1 ratio including retained earnings

min OCR¹ requirement June 2025

Regulatory CET1 ratio at 20.6% and includes distribution accrual at the top end of distribution policy (i.e. 70% payout ratio)
Organic capital generation of 215 bps⁴ in 1H2025, of which 104 bps⁴ in 2Q2025
Ethniki Insurance Cyprus Ltd acquisition (refer to slide 23) negative capital impact at of c.15 bps, expected in 3Q2025
Distribution policy at 50-70% payout ratio including cash dividends, share buybacks and interim dividends;
- 2025 distribution planned at 70%⁵ payout ratio
- Initiation of interim dividend at c.40% payout ratio out of 1H2025 earnings
P2R expected to decrease by 25 bps to 2.50%, effective from 1 Jan 2026 based on draft SREP decision
Following SSM stress-test, a lower P2G is expected from 2026

1) Based on final SREP letter in December 2024 ; OCR - Overall Capital Requirement. For more details refer to slide 55

2) Including foreseeable charges

3) Distribution accrual at the top end of distribution policy in line with Commission Delegated Regulation (EU) No 241/2014 principles. The distribution accrual level does not constitute a decision by the Bank with respect to distribution payment for 2025

4) Pre RWA and other movements, based on profit after tax (pre-distributions) and after AT1 coupon payment (where applicable)

31 5) Subject to market conditions as well as the outcome of the Group's ongoing capital and liquidity planning strategy at the time and AGM approval

Healthy Asset Quality: NPE Ratio at 1.7%

NPEs down 1% qoq to €188 mn; fully covered

Stage 2 loans at 7% of loan book, down 6 p.p. since Dec 2023

1) Pro forma for HFS; Agreement for the sale of €27 mn NPEs in 3Q2024 and c.€39 mn in 4Q2024; completed in 1Q2025

2) In pipeline to exit NPEs subject to meeting all exit criteria; the analysis is performed on a customer basis

NPE ratio further reduced to 1.7%

0% 1% 1% 2% 2% 3% 3%

Drop in NPEs reflecting low inflows, curings and write-offs

REMU Stock Reduced to €442 mn; 2025 Target Already Achieved

REMU stock reduced to €442 mn in June 2025

REMU repossessed stock at €442 mn at June 2025

Organic sales¹ consistently close to Open Market Value; comfortably above Book Value

1) Amounts as per Sales Purchase Agreements (SPAs)

2) Source: Central Bank of Cyprus: Residential Property Price index report published on 2 July 2025https://www.centralbank.cy/en/publications/residential-property-price-indices

3) Including transfer of c.€1 mn

Our Priorities Going Forward

Leveraging on BOCH's strengths

Leading financial Hub
Strong domestic franchise
Holistic offering
Capital and Shareholder Returns
Provide attractive return to shareholders
Prudent management of surplus capital, focusing on value creation

Asset Quality

• Protect balance sheet with continuation of meticulous underwriting standards and healthy asset quality

Diversified business model
Strong digital infrastructure
Long lasting relationships

Growth Initiatives

Drive new growth initiatives in banking and non-banking (eg: international loans, Jinius, Affluent)
Manage interest rate headwinds via loan and fixed income growth

Efficiency

• Maintain a lean operating model while investing in the business

BOC Rated at Investment Grade by all 3 Credit Rating Agencies

Baa3

Moody's upgraded rating to A3 in May 2025; outlook stable

Fitch upgraded rating to BBB- in March 2025; outlook positive

S&P upgraded rating to BBB- in February 2025; outlook stable

Key Information and Contact Details

Contacts

Investor Relations & ESG

Tel: +357 22 122239, Email: [email protected]

Annita Pavlou Manager Strategy, Investor Relations & ESG Tel: +357 22 122740, Email: [email protected]

Stephanie Olympiou ([email protected])

Dafni Georgiou ([email protected])

Elena Hadjikyriacou ([email protected])

Andri Rousou ([email protected])

Executive Director Finance

Eliza Livadiotou, Tel: +35722 122128, Email: [email protected]

Listing:

ATHEX – BOCHGR, CSE – BOCH/ΤΡΚΗ, ISIN IE00BD5B1Y92

1. Executive Summary

2. 1H2025 Financial Performance

Executive Summary – Updated Financial Target

3. Capital & Asset Quality

4. ESG update

5. Appendix

Key milestones achieved by 1H2025

Published the allocation and impact report for Green Bond issued in 1H2024
c.€418 mn Green Housing gross loans with EPC Category A as of June 2025, compared to c.€321 mn as of December 2024
Environmentally Friendly gross loans of c.€453 mn as of June 2025 compared to c.€354 mn as of December 2024
Utilisation of renewable energy in own operations increased by 49% yoy
Scope 1 and Scope 2 GHG Emissions reduced by 19% yoy
11,555 training hours to female employees and 18,632 training hours to male employees in 1H2025
55% of diagnosed cancer cases in Cyprus continue to be treated in the Bank of Cyprus Oncology Centre
10 events organised under the "Well at Work" wellbeing program with more than 825 employees participating at the events in 1H2025
33% women representation in ExCo and Senior Management in 1H2025, early achievement of the 2030 target of at least 30% women representation in ExCo and Senior Management
E S G

• Following the publication of the first Sustainability Statement under Corporate Sustainability Reporting Directive in accordance with the European Sustainability Reporting Standards (ESRS) the Group's ESG Corporate rating under ISS has been upgraded to C which is considered Prime.

ESG Journey

The ESG strategy formulated in 2021 is continuously expanding. The Group is maintaining its leading role in the Social and Governance pillars and focuses on increasing the Group's positive impacts on the Environment, by transforming not only its own operations, but also the operations of its customers

2022

BOC establishes a set of ESG targets aimed at integrating ESG across the bank's value chain

First bank in Cyprus joining Partnership of Carbon Accounting Financials (PCAF) and estimating the Financed Scope 3 emissions on loan portfolio

Set decarbonisation target on GHG emissions of own operations and designed the strategy to meet the target

Established an ESG Working plan

2023

Set the first decarbonisation target on Mortgage portfolio aligned with International Energy Agency's Below 2 Degree Scenario

First Bank in Cyprus to sign the Principles for Responsible Banking representing a single framework for a sustainable banking industry under United Nations Environment Programme Finance Initiative (UNEP FI).

Met the target of at least 30% women representation in ExCo and Senior Management

Designed the strategy to meet the decarbonisation targets set

Estimated the Scope 3 GHG emissions of loan, investment and insurance portfolio (based on methodology availability) by applying PCAF standard and proxies

Published the first TCFD report, Pillar 3 disclosures on ESG risks and the sixth Sustainability report (FY2022)

Established a structured and detailed Business Environment Scan process on C&E¹ risks

Launched ESG questionnaires in the loan origination

Restricted new lending and investment in specific carbonintensive sectors

Set and monitor Green/Transition new lending targets

Developed a Sustainable Finance Framework

Launched a Green Housing product by applying the GLPs² of LMA³

Established thorough sustainability Governance arrangements

Performed Board of Directors, Senior Management and Control functions ESG trainings

Established a holistic approach on ESG and Climate data

2024

Issuance of first Green Bond among Cypriot banks; eligible for inclusion in Green Bond Dataset of Climate Bond Initiative

Performed the Double Materiality Assessment as required by Corporate Sustainability Reporting Directive (CSRD)

Established Key Performance Indicators (KPIs) and Key Risk Indicators (KRIs) for both physical and transition risks

Developed methodology to quantify transition risk for the purposes of stress-testing within the context of ICAAP

Published the second TCFD report, Pillar 3 disclosures on ESG risks and the seventh Sustainability report (FY2022)

Introduced the syndicated Synesgy solution across the Cypriot Banking system aiming to assess customers' around ESG factors (ESG Due Diligence process)

Established an Environmental & Social (E&S) policy and associated procedures which aim to manage any potential negative impacts that any of its activities might have to the environment

Developed strategy and established sustainable lending practices to incorporate ESG and climate risks in the lending pricing.

Performed Board of Directors, Senior Management and Control functions ESG trainings

Set and monitor Green/Transition new lending targets

1) Climate related and environmental
2) Green Loan Principles
3) Loan Market Association

Stakeholder	ESG Priorities in 2025
	• Set additional decarbonisation targets on loan and investment portfolios based on methodologies and data available
	• Enhance ESG disclosures to ensure transparency against the ESG performance by publishing the second Corporate Sustainability Reporting Directive (CSRD) report for FY2025
Investors	• Publish the first PRB Self-Assessment & Progress Report
	• Monitor the impact of climate-related and environmental risks on its business environment
	• Design a comprehensive climate change mitigation transition plan

	• Continue implementation of 'ECB Guide' on Climate related and Environmental risks (C&E)
	• Expand further the key risk indicators on material C&E risks
Regulatory	• Improve the quality of ESG data, through the continued update and implementation of the ESG Data Strategy
	• Narrow gaps identified as part of the Corporate Sustainability Reporting Directive (CSRD) implementation

	• Continue enhancement of environmentally friendly product offerings
Customers & Markets	• Monitor performance against Green new lending metrics
	• Provide a high-level transition action plan to customers following the completion of ESG questionnaires

Climate Change – Target 1: Reducing Scope 1 & Scope 2 GHG emissions by 42% by 2030 compared to 2021 baseline

• c. 11% decrease in Scope 1 and Scope 2 GHG emissions in 1H2025

GHG Emissions – Scope 1 & Scope 2 (tCO2e)

13% reduction of Scope 1 due to energy efficiency measures implemented in late 2024 (i.e replacement of internal combustion engine vehicles with electric vehicles)
11% reduction of Scope 2 due to branch rationalization as part of the digitalisation journey, closedown of branches for renovation and installation of new solar panels during 2024 and 1Q2025.

Climate Change - Target 2: Reduce by 43% the kilograms of GHG emissions financed per square metre (kgCO2^e /m²) under the Mortgage portfolio, by 2030 compared to 2022 baseline

Bank's performance against baseline of 2022:

The new lending strategy to achieve the decarbonisation target set has been designed and focuses on financing more energy efficient residential properties. The launch of Green Housing⁴ product drives the feasibility of the decarbonisation target

2) The performance of Carbon Neutrality target is compared on yearly basis.
3) The carbon intensity indicator is estimated on a six-monthly basis.
4) Green Housing product is aligned with Green Loan Principles (GLP) of Loan Market Association (LMA).

¹⁾ Comparative figures restated due to updated emission factors from electricity authority of Cyprus as well as exclusion of Jinius (100% Group Subsidiary) building which was reported under BOC PCL in previous reports.

Climate Change: Increase portfolio of environmentally friendly loans Gross loans (€ mn)

In 2024, the Bank launched a new Fixed Green Housing product aligned with the Green Loan Principles (GLPs) of the Loan Market Association (LMA), marking a significant addition to the Bank's environmentally friendly portfolio
The Bank has a pool of €418 mn gross loans as at 30 June 2025 financing the acquisition or construction of a residential property with EPC A¹

• c.49% increase in renewable energy utilisation in 1H2025

paper printed in mn

c.2% yoy reduction in paper consumption in 1H2025
Overall, 28% reduction in paper consumption since 1H2021

1) The EPC is available at collateral level in the Group's database therefore the one to one (one account number one collateral property with EPC A) assumption has been applied to identify the Green Housing loans.

2) Comparative figures have been restated to exclude renewable energy of Jinius (100% Group Subsidiary) building which was reported under BOC PCL in previous reports.

Learning & Development: Provide upskilling/reskilling employee opportunities Training Attendance (hours)

• Trainings attended cover variety of topics including Business Conduct and Compliance topics in accordance with the Bank's Corporate Governance Policy and Framework

Financial Inclusion and Resilience: Facilitate financial technology Board's Gender Diversity solutions and promote digital transformation

Gender Diversity: At least 30% women in ExCo and Senior Management by 2030

Female representation on the Board of Directors

Corporate Social Responsibility (CSR)

IDEA¹ Innovation Center

The IDEA Innovation Center (since incorporation)

IDEA provided support to 260+ entrepreneurs through its Startup Program since incorporation and helped to create more than 120 new jobs in the Cypriot Economy

BOC Cultural Foundation: The Foundation's main strategic aim is to encourage the research and study of Cypriot civilisation in the fields of archaeology, history, art and literature as well as to preserve and disseminate the cultural and natural heritage of Cyprus, with a particular emphasis on the international promotion of the island's centuries-long Greek civilisation, through various activities and actions.

Bank of Cyprus Cultural Foundation activities

SupportCy Network: Maintain leadership and continue playing an active and positive role in the community

BOC Oncology Centre: Contribute and support cancer patients and their families through the Bank of Cyprus Oncology Centre

Cumulative investment of more than c.€70 mn from 1998 to June 2025
55% of diagnosed cancer cases in Cyprus are being treated at the Centre

Wellbeing program "Well at Work"

10 events organised:

Mental Health: 4
Physical Health: 2
Financial Health: 1
Team Building: 3
~825 employees participated

Donations, Scholarships and Awards to University students and Foundations, contributing to the enhancement of Society education and awareness level

1) IDEA Innovation Centre is the largest non-profit incubator-accelerator for start-ups and an entrepreneurship hub for Cypriot young entrepreneurs, founded by Bank of Cyprus and other Partners

2) Number of physical attendees increased significantly due to the launch of the new exhibition 'Cyprus Insula' in July 2024, ending in June 2026.

Appendix

Table of contents

Macroeconomic overview

FY2022 Financial Performance

Executive Summary – Updated Financial Targets

Cyprus is a Growing Business and Tech Hub in the Region

Labour costs significantly below the average Euro area

(€ '000)

Cyprus as an attractive business hub…

Well educated, highly skilled labour force

Cyprus is the eastern gateway to the European Union and a safe, stable and business friendly hub for the region
3 largest party Ship Management centre in the EU
2,300 companies registered in Cyprus since March 2022 with a large number operating in the technology industry
- c.27,000 work permits granted (c.5% of labour force² )
- Access to tech-savvy EU talent pool
- Labour cost for tech talents below Euro area average

Source: Eurostat

1) Data for population is as at 31 March 2025. Data for wages refer to FY2024
2) Data for labour force is as at 31 March 2025 (Labour force age 15-64)

Appendix Additional financial information

FY2022 Financial Performance

Table of contents

Executive Summary – Updated Financial Targets

Robust Liquidity Position; Significant Surplus Liquidity of €8.1 bn

Diversified, mainly retail funded deposit base Highly liquid balance sheet Group deposits Liquid assets

Cash balances with Central banks Placements with Banks Amortised cost bonds FVOCI bonds
Reverse repos
Sticky deposit base
- 55% insured deposits
- 62% Retail
- Average size of Retail deposits: c.€30k
Strong liquidity ratios
- LCR ratio of 304% and surplus liquidity of €8.1 bn
- Cash, balances with central Banks of €7.4 bn
Highly rated fixed income portfolio
- Majority of positions in FVOCI book hedged for interest rate risk
- Amortised cost portfolio with high average rating of Aa2 (refer to slide 19)

Liquidity ratios significantly above minimum requirements

100

200

300

400

Analysis of Deposits

Deposits by Type (€ bn)

Type	Jun 24	Dec 24	Mar 25	Jun 25
Current, Demand & Savings	13.29	13.83	13.87	14.57
Time & Notice	6.43	6.69	6.83	6.33
Total	19.72	20.52	20.70	20.90

Deposits by Customer Sector (€ bn)

Sector	Jun 24	Dec 24	Mar 25	Jun 25
Retail	12.40	12.61	12.68	12.98
SME	1.08	1.16	1.16	1.26
International Corporate	0.14	0.17	0.21	0.26
International Business Unit	3.74	4.14	4.04	3.95
Corporate	2.36	2.44	2.61	2.45
Total	19.72	20.52	20.70	20.90

Deposits by Currency (€ bn)

Currency	Jun 24	Dec 24	Mar 25	Jun 25
EUR	17.92	18.56	18.82	19.13
USD	1.44	1.59	1.51	1.41
GBP	0.30	0.31	0.31	0.30
Other Currencies	0.06	0.06	0.06	0.06
Total	19.72	20.52	20.70	20.90

Time & Notice deposits by maturity

2% of Time and Notice deposits with maturity >12 months

Deposit sensitivities

± 1 p.p. in Time and Notice deposit mix: ± c.€2 mn p.a. 1
±10 bps in total cost of deposits: ±c.€21 mn p.a. 2

1) Calculation assuming that the cost of deposit remains unchanged

2) Calculation assuming that deposits balance and mix remain unchanged

Income Statement

€ mn	1H2025	1H2024	yoy%	2Q2025	1Q2025	qoq%
Net Interest Income	368	420	-12%	182	186	-2%
Net fee and commission income		86	2%	44	44	1%
Net foreign exchange gains and net gains on financial instruments	18	13	33%	9	9	-2%
Net insurance result	24	23	7%	12	12	6%
Net gains from revaluation and disposal of investment properties and on disposal of stock of properties		2	342%	4	1	166%
Other income	6	5	6%	3	3	-5%
Total income	509	549	-7%	254	255	0%
Staff costs	(105)	(96)	9%	(55)	(50)	10%
Other operating expenses	(76)	(71)	8%	(39)	(37)	4%
Special levy on deposits and other levies/contributions	(16)	(19)	-17%	(8)	(8)	1%
Total expenses	(197)	(186)	6%	(102)	(95)	7%
Operating profit	312	363	-14%	152	160	-4%
Loan credit losses	(19)	(16)	21%	(9)	(10)	-15%
Impairments of other financial and non-financial assets	(14)	(25)	-43%	(4)	(10)	-57%
Provisions for pending litigation, claims, regulatory and other matters (net of reversals)	(1)	(3)	-47%	1	(2)	-114%
Total loan credit losses, impairments and provisions	(34)	(44)	-20%	(12)	(22)	-41%
Profit before tax and non-recurring items	278	319	-13%	140	138	2%
Tax	(42)	(48)	-13%	(22)	(20)	9%
Profit attributable to non-controlling interests		(1)	10%	0	(1)	-44%
Profit after tax and before non-recurring items (attributable to the owners of the Company)		270	-13%	118	117	1%
Advisory and other transformation costs – organic	-	-	-	-	-	-
Profit after tax (attributable to the owners of the Company)	235	270	-13%	118	117	1%

In July 2025, the Group received notification that the Management Committee of the Deposit Guarantee Fund resolved to increase the target level of covered deposits from 0.8% to 1.25%;

contributions will be required on a semi-annual basis from authorised institutions to reach the target level over a period of 5 years (i.e. by June 2030) starting from 2H2025

Consolidated Balance Sheet

Assets (€ mn)	30.06.2025	31.12.2024	% change
Cash and balances with central banks	7,401	7,601	-3%
Loans and advances to banks	1,005	821	22%
Reverse repurchase agreements	1,015	1,010	0%
Debt securities, treasury bills and equity investments	4,832	4,358	11%
Net loans and advances to customers	10,578	10,114	5%
Stock of property	433	649	-33%
Investment properties	33	36	-9%
Other assets	1,807	1,872	-3%
Non-current assets and disposal groups held for sale	-	23	-100%
Total assets	27,104	26,484	2%

• As at 30 June 2025 there were 440,828,633 issued ordinary shares

Liability and Equity (€ mn)	30.06.2025	31.12.2024	% change
Deposits by banks	502	364	38%
Customer deposits	20,903	20,519	2%
Debt securities in issue	992	989	0%
Subordinated liabilities	316	307	3%
Other liabilities	1,576	1,475	7%
Total liabilities	24,289	23,654	3%
Shareholders' equity	2,574	2,590	-1%
Other equity instruments	220	220	-
Total equity excluding non controlling interests	2,794	2,810	-1%
Non-controlling interests	21	20	6%
Total equity	2,815	2,830	-1%
Total liabilities and equity	27,104	26,484	2%

ROTE on 15% CET1 Ratio

TBV adjusted for excess CET1 capital on a 15% CET1 ratio

	€ mn	Jun 25	Mar 25	Dec 24
	Shareholders' equity	2,574	2,700	2,590
-	Intangible assets	(47)	(47)	(50)
-	Distribution	(155)1	(314)2	(241)3
-	Excess CET1 capital on a 15% CET1 ratio	(580)	(519)	(450)
=	TBV adjusted for excess CET1 capital on a 15% CET1 ratio	1,792	1,820	1,849
	Average TBV for excess CET1 capital on a 15% CET1 ratio	1,820	1,835	1,839

ROTE on 15% CET1

	€ mn	Jun 25	Mar 25	Dec 24
	PAT annualised	473	474	508
	Average TBV adjusted for excess CET1 capital on a 15% CET1 ratio	1,820	1,835	1,839
=	ROTE on 15% CET1	26.0%	25.9%	27.6%

1) Distribution accrual at the top end of distribution policy (i.e. 70% payout ratio) on 1H2025 Adjusted Recurring Profitability

2) Includes the proposed cash dividend and the amount relating to the approved share buyback of €30mn not yet executed as at period end in relation to the FY2024 (completed in June 2025) and distribution accrual at the top end of distribution policy (i.e. 70% payout ratio) on 1Q2025 Adjusted Recurring Profitability

3) For December 2024 the full amount of the proposed FY2024 distribution is adjusted

Capital Position; Quarterly Evolution

min OCR¹ requirement for June 2025

1) OCR Overall Capital Requirement (refer to slide 55 )
2) Does not include profits for the three months ended 31 March 2025
3) Including unaudited/unreviewed profits for 1Q2025 and a distribution accrual thereon at the top end of the Group's distribution policy
4) Including foreseeable charges
5) Including reviewed profits for 2Q2025 in line with the ECB Decision (EU) (2015/656) on the recognition of interim or year-end profits in CET1 capital in accordance with Article 26(2) of the CRR and a distribution accrual thereon at the top end of the Group's distribution policy 53

Risk Weighted Assets– Regulatory Capital

€	mn 31.12.23	31.12.24	31.03.25	30.06.25
Cyprus	10,297	10,810	10,454	10,261
Overseas	44	24	41	39
RWAs	10,341	10,834	10,495	10,300
RWA intensity	39%	41%	39%	38%

Risk Weighted Assets by type of risk

€ mn	31.12.23	31.12.24	31.03.25	30.06.25
Credit risk	9,013	9,172	9,256	9,061
Market risk	-	-	-	-
Operational risk	1,328	1,662	1,239	1,239
Total	10,341	10,834	10,495	10,300

1) Includes distribution accrual for the six months ended 30 June 2025 at the top end of the Group's distribution policy and other prudential adjustments, as described in Section 'B.2.1 Capital Base' of press release
2) Including reviewed profits for the six months ended 30 June 2025, and a distribution accrual thereon at the top end of the Group's distribution policy
3) The distribution accrual level does not constitute a decision by the Bank with respect to distribution payment for 2025
4) Including unaudited/unreviewed profits for 1Q2025 and a distribution accrual thereon at the top end of the Group's distribution policy

Risk Weighted Assets by Geography Reconciliation of Group Equity to CET1

€ mn	30.06.25
Shareholder's equity	2,574
Less: Intangibles	(21)
Less: Deconsolidation of insurance entities and other entities	(154)
Less: Regulatory adjustments	(274)1
CET1	2,124
Risk Weighted Assets	10,300
CET1 ratio	20.6%2,3
CET1 ratio fully loaded	20.3%2,3

Regulatory Capital (€ mn)

	31.12.23	31.12.24	31.03.253,4	30.06.252,3
CET1 capital	1,798	2,075	2,092	2,124
Tier I capital	2,018	2,295	2,312	2,344
Tier II capital	300	307	312	316
Total regulatory capital (Tier I + Tier II)	2,318	2,602	2,624	2,661

Overall Capital Requirements

CET1 ratio Total capital ratio

CET1 and Total capital ratio minimum capital requirements are set at 11.39% and 16.09% respectively, reflecting the phasing in of O-SII buffer of 0.0625% bps on 1 January 2025
Pillar 2 requirement expected to decrease by 25 bps to 2.50%, effective from 1 Jan 2026 based on draft SREP decision
Total O-SII buffer is expected to phase in by 0.0625 in January 2026, increasing to 2.00%
Countercyclical buffer (CCyB) for exposures in Cyprus is expected to increase to 1.5% in January 2026 following decision by CBC in January 2025
Based on draft SREP decision, the non-public guidance for an additional P2G is revised downwards, effective from January 2026

Buffer to MDA Restrictions Level & Distributable Items¹

• Significant CET1 MDA buffer as at 30 June 2025: 924 bps (€952 mn)

Distributable items¹ of €2,362 mn for BOCH as at 30 June 2025
Based on 2024 SREP letter, the requirement for regulatory approval for dividend was lifted as of 1 January 2025

1) Distributable Items definition per CRR

²⁾ Including reviewed profits for 1H2025 and a distribution accrual thereon at the top end of the Group's distribution policy. The distribution accrual level does not constitute a decision by the Bank with respect to distribution payment for 2025

MREL Requirement Met with Significant Buffer

MREL ratio including capital used to meet the CBR¹( as % of RWAs) at 35.9%² as at 30 June 2025
MREL ratio (as % of Leverage Ratio Exposure (LRE)) at 13.8%²as at 30 June 2025
Based on SRB communication received in January 2025, MREL requirement³ is now set at;
- 23.85% of RWAs plus prevailing CBR¹ i.e. 29.2% using current CBR¹
- 5.91% of LRE
Distance to M-MDA restriction as at 30 June 2025: 667 bps (€687 mn) 2,5
The CBR¹is expected to increase further (for more details refer to slide 55)

1) The CBR is expected to increase as a result of the phasing in of O-SII to 2.00% on 1 January 2026 as well as the increase of CcyB for exposures in Cyprus to 1.5% in January 2026 (refer to slide 55 for further details)

2) Includes profits for 1H2025 and a distribution accrual at the top end of the Group's Distribution Policy. Distribution accrual does not constitute a binding commitment of the Group for a payment.

3) The revised MREL requirement became binding with immediate effect

4) MREL-Eligible Senior Preferred Notes and other MREL eligible liabilities

5) Calculated against the final MREL requirement of 23.85% of RWAs (+ CBR as at 30 June 2025) 57

Income Statement Bridge¹ for 1H2025

€ mn	Underlying basis	Other	Statutory Basis
Net interest income	368	-	368
Net fee and commission income	88	-	88
Net foreign exchange gains and net gains on financial instruments	18	(1)	17
Net losses on derecognition of financial assets measured at amortised cost	-	(2)	(2)
Net insurance result	24	-	24
Net gains/(losses) from revaluation and disposal of investment properties and on disposal of stock of properties	5	-	5
Other income	6	-	6
Total income	509	(3)	506
Total expenses	(197)	(1)	(198)
Operating profit	312	(4)	308
Loan credit losses	(19)	19	-
Impairments of other financial and non-financial assets	(14)	14	-
Credit losses on financial assets and impairment net of reversals of non-financial assets	-	(30)	(30)
Provisions for pending litigations, claims regulatory and other matters (net of reversals)	(1)	1	-
Profit before tax and non-recurring items	278	-	278
Tax	(42)	-	(42)
Profit attributable to non-controlling interests	(1)	-	(1)
Profit after tax - attributable to the owners of the Company	235	-	235

Analysis of Interest Income and Interest Expense

Analysis of Interest Income (€ mn)	1Q2024	2Q2024	3Q2024	4Q2024	1Q2025	2Q2025	1H2024
Loans and advances to customers	138	139	139	132	124	121	277
Loans and advances to banks and central banks	92	73	69	64	57	46	165
Repurchase agreements	4	7	8	8	8	8	11
Investments and other financial assets at amortised costs	25	27	29	30	29	31	52
Investments FVOCI	2	2	2	2	2	2	4
	261	248	247	236	220	208	509
Net derivative financial instruments	5	5	4	4	3	3	10
Total Interest Income	266	253	251	240	223	211	519
Analysis of Interest Expense (€ mn)
Customer deposits	(15)	(17)	(19)	(17)	(18)	(15)	(32)
Funding from central banks and deposits by banks	(21)	(5)	(3)	(2)	(2)	(2)	(26)
Loan stock	(13)	(16)	(17)	(18)	(17)	(17)	(29)
	(49)	(38)	(39)	(37)	(37)	(34)	(87)
Net derivative financial instruments	(4)	(8)	(8)	(5)	-	5	(12)
Total Interest Expense	(53)	(46)	(47)	(42)	(37)	(29)	(99)

Business Plan Forward Curves

1.0%

1.5%

2.0%

2.5%

3.0%

3.5%

Average quarterly ECB Deposit rate Average 6m Euribor rate

1.4%

1.9%

2.4%

2.9%

3.4%

3.9%

Income Statement by Business line for 1H2025

€ mn	Consumer Banking	SME Banking	Corporate Banking	IBU & International corporate	RRD	REMU	Insurance	Treasury	JCC	Other	Total
Net interest income/(expense)	176	26	68	64	5	(5)	-	37	-	(3)	368
Net fee & commission income/(expense)	33	5	10	24	1	-	(4)	2	14	3	88
Other income	1	1	1	4	-	9	26	8	3	-	53
Total income	210	32	79	92	6	4	22	47	17	-	509
Total expenses	(89)	(11)	(21)	(21)	(9)	(8)	(4)	(8)	(11)	(15)	(197)
Operating profit/ (loss)	121	21	58	71	(3)	(4)	18	39	6	(15)	312
Loan credit losses of customer loans net of gains/(losses) on derecognition of loans and changes in expected cash flows	(7)	(7)	(1)	(3)	1	-	-	-	-	(2)	(19)
Impairment of other financial and non-financial instruments	-	-	-	-	-	(14)	-	-	-	-	(14)
Provision for pending litigations, claims regulatory and other matters (net of reversals)	-	-	-	-	-	-	-	-	-	(1)	(1)
Profit/ (loss) before tax	114	14	57	68	(2)	(18)	18	39	6	(18)	278
Tax	(14)	(2)	(7)	(8)	-	(4)	(1)	(5)	(1)	-	(42)
Profit attributable to non-controlling interest	-	-	-	-	-	-	-	-	(1)	-	(1)
Profit/(loss) after tax and before non-recurring items (attributable to the owners of the Company)	100	12	50	60	(2)	(22)	17	34	4	(18)	235

Statutory Income Statement for Insurance Businesses for 1H2025

€ mn	1H2025	1H2024	yoy%
Insurance revenue	41.5	39.3	6%
Insurance service expense	(26.4)	(23.6)	12%
Net insurance service result	15.1	15.7	-4%
Reinsurance revenue	11.3	10.7	6%
Reinsurance service expense	(13.7)	(13.6)	1%
Net reinsurance service result	(2.4)	(2.9)	-17%
Net insurance finance income/ (expense)	2.6	(32.3)	-
Net reinsurance finance (expense)	(0.2)	0.1	-
Loss from investment and occupational pension contracts	(0.1)	(0.3)	-68%
Insurance service result	15.0	(19.7)	-
Other income	0.3	0.4	-34%
Staff costs (non-attributable)	(0.5)	(0.4)	27%
Other operating costs (non-attributable)	(1.2)	(1.0)	21%
Net revaluations and/or sale on financial assets at fair value through profit or loss1	(1.6)	32.3	-
Total net income	(3.0)	31.3	-
Profit before tax	12.0	11.6	3%
Tax expense	(0.4)	(0.4)	-14%
Profit after tax	11.6	11.2	4%

€ mn	1H2025	1H2024	yoy%
Insurance revenue	36.2	33.4	8%
Insurance service expense	(15.8)	(18.2)	-13%
Net insurance service result	20.4	15.2	35%
Reinsurance revenue	2.2	4.5	-51%
Reinsurance service expense	(15.1)	(13.5)	12%
Net reinsurance service result	(12.9)	(9.0)	44%
Insurance finance expense	(0.4)	(0.8)	-45%
Reinsurance finance income or expense	0.2	0.3	-36%
Net insurance financial result	(0.2)	(0.5)	-52%
Insurance service result	7.3	5.7	27%
Staff costs (non-attributable)	(1.1)	(0.9)	19%
Other operating costs (non-attributable)	(1.1)	(0.9)	22%
Revaluation/disposal gains on investments	0.7	0.4	62%
Other income	0.1	-	-
Total net income/ (expenses)	(1.4)	(1.4)	2%
Profit before tax	5.9	4.3	35%
Tax expense	(0.7)	(0.5)	33%
Profit after tax	5.2	3.8	35%

Income statement based on the statutory financial statements of Eurolife and Genikes Insurance and including transactions with the Bank

1) Includes net revaluations and/or sale on policyholder assets included within "Net Insurance result" line in the Group's Income Statement 62

Appendix Additional Asset Quality Slides

FY2022 Financial Performance

Table of contents

Executive Summary – Updated Financial Targets

Well Diversified Loan Portfolio With High Quality Collateral

€ bn LTV² 4.01 0.76 Private Individuals Hotels & Catering Real Estate Trade Other sectors Professional & Other services Transportation (including shipping) Manufacturing Other 4.77 1.22 0.90 0.90 0.74 0.74 0.51 0.46 Housing

Gross performing book¹ by business sector of €10.66 bn

LTV2	Private individuals Housing €4.01 bn	Private individuals Other €0.76 bn	Business €5.89 bn
<80%	93%	27%	70%
>80%	7%	73%	30%

1) Gross loans as at 30 June 2025 of Corporate (incl. IB and International corporate), SME and Retail

0.42

Construction

2) Loan to Value (LTV) is calculated as the Gross IFRS Balance to the indexed market value of the property. Under Pillar 3 disclosures LTV is calculated as the Gross IFRS Balance to the indexed market value of collateral. Collateral takes into consideration the mortgage amount registered in the land registry plus legal interest from registration date to the reference date

Loans by Economic Activity, Customer Type and Arrears Analysis

Gross loans (€ mn)	Dec 241	Mar 25	Jun 25
Trade	906	913	911
Manufacturing	319	410	461
Hotels & Catering	1,158	1,194	1,221
Construction	492	419	429
Real Estate	917	922	913
Private Individuals	4.791	4,819	4,866
Professional and other services	639	692	747
Other sectors	1.098	1,231	1,246
Total	10,320	10,600	10,794

NPE ratio	Dec 241	Mar 25	Jun 25
Trade	1.9%	1.7%	1.8%
Manufacturing	1.1%	0.8%	0.9%
Hotels & Catering	0.2%	0.2%	0.2%
Construction	0.6%	0.6%	0.5%
Real Estate	2.3%	2.4%	2.4%
Private Individuals	2.5%	2.4%	2.4%
Professional and other services	5.0%	3.5%	3.4%
Other sectors	0.2%	0.2%	0.1%
Total	1,9%	1,8%	1.7%

Gross loans by customer type (€ mn)	Dec 241	Mar 25	Jun 25
Retail Housing	3,631	3,647	3,689
Retail other	1,076	1,082	1,103
SMEs	1,005	1,024	1,019
International corporate	961	1,039	1,113
Corporate	3,647	3,808	3,870
Total	10,320	10,600	10,794

Loans arrears analysis (€ mn)	Dec 241	Mar 25	Jun 25
Loans with no arrears	10,100	10,386	10,592
Loans with arrears but not NPEs	19	24	14
NPEs with no arrears	99	88	79
NPEs Up to 30 DPD	1	1	1
NPEs 31-90 DPD	2	5	1
NPEs 91-180 DPD	7	5	20
NPEs 181-365 DPD	11	12	12
NPEs Over 1 year DPD	81	79	75
Total loans	10,320	10,600	10,794

1) Pro forma for HFS; Agreement for the sale of €²⁷ mn NPEs in 3Q2024 and c.€³⁹ mn in 4Q2024 ; completed in 1Q2025 65

Gross Loans and Coverage by IFRS 9 Staging

% of gross loans

1) Pro forma for HFS; Agreement for the sale of €27 mn NPEs in 3Q2024 and c.€39 mn in 4Q2024 ; completed in 1Q2025

Stage 2 Exposures <10% of Loan Book; 98% of Exposures Present no Arrears

>30 dpd






1% 0%

Limited migration rate of Stage 2 to Stage 3 at 3.2%

Migration to Stage 3 as a % of Stage 2 loans

Strong performance of Stage 2 exposures; 98% present no arrears
Only c.3% of Stage 2 loans were migrated to Stage 3 in 1H2025
c.90% of Stage 2 loans are collateralised
7% of gross loans classified as Stage 2 of which:
- 32% were classified as Stage 2 due to forbearances;
  - c.15% expected to exit the forborne status in 2025 and hence be eligible for transfer to Stage 1

Rescheduled Loans¹

Rescheduled loans¹ by customer type

€ bn	Dec 24	Mar 25	Jun 25
Retail housing	0.09	0.07	0.07
Retail other	0.02	0.02	0.02
SMEs	0.03	0.03	0.03
International corporate	-	-	-
Corporate	0.24	0.24	0.23
Total	0.38	0.36	0.35

Fair value of collateral and credit enhancements

Loans and advances to customers	30 Jun 2025 (€ mn)
Cash	584
Securities	643
Letters of credit / guarantee	235
Property	17,539
Other	307
Surplus collateral	(10,291)
Net collateral	9,017

Rescheduled loans¹

30 Jun 2025	€ bn
Stage 1	-
Stage 2	0.25
Stage 3	0.07
POCI	0.03
FVPL	-
Total	0.35

REMU - the Engine for Dealing with Foreclosed Assets

€2.41 bn sales¹ of 5,124 properties across all property classes since set-up

Helix 3 and Sinope Cyreit Organic sales # properties

€227 mn sales¹in 1H2025; comfortably above Book Value

Breakdown of cumulative sales¹

by on-boarding year (€ mn)

Legacy 2016 2017 2018 2019 2020 2021-1H2025 417 898 481 251 137 88 138 % Sales of vintage stock (BV)³ 89% 86% 79% 79% 2 70% €2.41 bn

Cumulative sales by property type; 38% of sales relate to land

Sales contract price – 30 June 2025

1) Amounts as per Sales Purchase Agreements (SPAs)

2) Legacy properties relate to properties that were on-boarded before REMU set-up in January 2016

3) The BV of the properties disposed at the date of disposal as a proportion of the: BV of the properties disposed at the time of the disposal plus the BV of the residual properties managed by REMU as at 30 June 2025

REMU - the Engine for Dealing with Foreclosed Assets

Repossessed properties sold exceed properties acquired since 2019

Group BV (€ mn)

By type (€ mn) – 30 June 2025

• Pipeline of €34 mn by contract value as at 30 June 2025, of which €19 mn relates to SPAs signed

Sales contracts (excl. DFAs)¹up 16% yoy

2) Including hotels

Appendix Glossary & Definitions

Table of contents

FY2022 Financial Performance

Executive Summary – Updated Financial Targets

DFEs Debt for Equity Swaps.

AC Amortised cost bonds. Adjusted recurring profitability The Group's profit after tax before non-recurring items (attributable to the owners of the Company) taking into account distributions under other equity instruments such as the annual AT1 coupon. Advisory and other transformation costs Comprise mainly of fees of external advisors in relation to: (i) the transformation program and other strategic projects of the Group and (ii) customer loan restructuring activities, where applicable. Allowance for expected loan credit losses (previously 'Accumulated provisions') Comprises (i) allowance for expected credit losses (ECL) on loans and advances to customers (including allowance for expected credit losses on loans and advances to customers held for sale where applicable), (ii) the residual fair value adjustment on initial recognition of loans and advances to customers (including residual fair value adjustment on initial recognition on loans and advances to customers classified as held for sale where applicable), (iii) allowance for expected credit losses for off-balance sheet exposures (financial guarantees and commitments) disclosed on the balance sheet within other liabilities, and (iv) the aggregate fair value adjustment on loans and advances to customers classified and measured at FVPL. AIEA This relates to the average of 'interest earning assets' as at the beginning and end of the relevant quarter. Interest earning assets include: cash and balances with central banks (including cash and balances with central banks classified as non-current assets held for sale), plus loans and advances to banks, plus reverse repos, plus net loans and advances to customers (including loans and advances to customers classified as non-current assets held for sale), plus 'deferred consideration receivable' included within 'other assets', plus investments (excluding equities and mutual funds). AT1 AT1 (Additional Tier 1) is defined in accordance with the Capital Requirements Regulation (EU) No 575/2013, as amended by CRR II applicable as at the reporting date. Book Value BV= book value = Carrying value prior to the sale of property. Basic earnings/(losses) after tax per share (attributable to the owners of the Company) Basic earnings after tax per share (attributable to the owners of the Company) is the Profit/(loss) after tax (attributable to the owners of the Company) divided by the weighted average number of shares in issue during the period, excluding treasury shares. Carbon neutral The reduction and balancing (through a combination of offsetting investments or emission credits) of greenhouse gas emissions from own operations. CET1 capital ratio (transitional basis) CET1 capital ratio (transitional basis) is defined in accordance with the Capital Requirements Regulation (EU) No 575/2013, as amended by CRR II applicable as at the reporting date. CET1 Fully loaded (FL) The CET1 fully loaded (FL) ratio is defined in accordance with the Capital Requirements Regulation (EU) No 575/2013, as amended by CRR II applicable as at the reporting date. Cost of Funding Effective yield of cost of funding: Interest expense of all interest bearing liabilities after hedging, over average interest bearing liabilities (customer deposits, funding from the central bank, interbank funding, subordinated liabilities). Historical information has been adjusted to take into account hedging. Cost to Income ratio Cost-to-income ratio comprises total expenses (as defined) divided by total income (as defined). Cost of Risk Loan credit losses charge (cost of risk) (year -to -date) is calculated as the annualised 'loan credit losses' (as defined) divided by average gross loans (as defined). The average gross loans are calculated as the average of the opening balance and the closing balance, for the reporting period/year. CRR DD Default Definition. DFAs Debt for Asset Swaps.

DTA	Deferred tax asset.
DTC	Deferred Tax Credit.
EBA	European Banking Authority.
ECB	European Central Bank.
Effective yield	Interest Income on Loans/Average Net Loans.
Effective yield of liquid assets	Interest income on liquids after hedging, over average liquids (Cash and balances with central banks, placements with banks and bonds).
FTP	Fund transfer pricing methodologies applied between the business lines to present their results on an arm's length basis.
FVOCI	Fair value through other comprehensive income bonds.
GBV	Gross Book Value.
Green Asset ratio	The proportion of the share of a credit institution's assets financing and invested in EU Taxonomy-aligned economic activities as a share of total covered assets.
	Gross loans comprise: (i) gross loans and advances to customers measured at amortised cost before the residual fair value adjustment on initial recognition (including loans and advances to customers classified as non-current assets held for sale where applicable) and (ii) loans and advances to customers classified and measured at FVPL adjusted for the aggregate fair value adjustment.
Gross Loans	Gross loans are reported before the residual fair value adjustment on initial recognition relating mainly to loans acquired from Laiki Bank (calculated as the difference between the outstanding contractual amount and the fair value of loans acquired) amounting to €53 mn as at 30 June 2025 (compared to €57 mn as at 31 March 2025 and €59 mn as at 31 December 2024).
	Additionally, gross loans include loans and advances to customers classified and measured at fair value through profit or loss adjusted for the aggregate fair value adjustment of €122 mn as at 30 June 2025 (compared to €122 mn as at 31 March 2025 and €129 mn as at 31 December 2024).
Gross performing loan book	Gross loans (as defined) excluding the legacy exposures (as defined).
Gross Sales Proceeds	Proceeds before selling charge and other leakages.
Group	The Group consists οf Bank of Cyprus Holdings Public Limited Company, "BOC Holdings" or the "Company", its subsidiary Bank of Cyprus Public Company Limited, the "Bank" and the Bank's subsidiaries.
IB	International Banking
IBU	Servicing exclusively international activity companies registered in Cyprus and abroad and not residents.

Legacy exposures	Legacy exposures are exposures relating to (i) Restructuring and Recoveries Division (RRD), (ii) Real Estate Management Unit (REMU), and (iii) non-core overseas exposures.
Leverage Ratio Exposure (LRE)	Leverage Ratio Exposure (LRE) is defined in accordance with the Capital Requirements Regulation (EU) No 575/2013, as amended.
Liquid assets	Cash, placements with banks, balances with central banks, reverse repos and bonds.
Loan credit losses (PL) (previously 'Provision charge')	Loan credit losses comprise: (i) credit losses to cover credit risk on loans and advances to customers, (ii) net gains on derecognition of financial assets measured at amortised cost relating to loans and advances to customers and (iii) net gains on loans and advances to customers at FVPL, for the reporting period/year.
Loan to Value ratio (LTV)	Loan to Value (LTV) is calculated as the Gross IFRS Balance to the indexed market value of the property. Under Pillar 3 disclosures LTV is calculated as the Gross IFRS Balance to the indexed market value of collateral. Collateral takes into consideration the mortgage amount registered in the land registry plus legal interest from registration date to the reference date.
MSCI ESG Rating	The use by the Company and the Bank of any MSCI ESG Research LLC or its affiliates ('MSCI') data, and the use of MSCI Logos, trademarks, service marks or index names herein, do not constitute a sponsorship, endorsement, recommendation or promotion of the Company or the Bank by MSCI. MSCI Services and data are the property of MSCI or its information providers and are provided "as-is" and without warranty. MSCI Names and logos are trademarks or service marks of MSCI.
Net Proceeds	Proceeds after selling charges and other leakages.
Net interest margin (NIM)	Net interest margin is calculated as the net interest income (annualised) divided by the 'quarterly average interest earning assets' (as defined).
Net loans and advances to customers	Net loans and advances to customers comprise gross loans (as defined) net of allowance for expected loan credit losses (as defined, but excluding allowance for expected credit losses on off balance sheet exposures disclosed on the balance sheet within other liabilities).
Net NPE ratio	Calculated as NPEs (as defined) net of allowance for expected loan credit losses (as defined) over net loans and advances to customers (as defined)
Net performing loan book	Net performing loan book is the total net loans and advances to customers (as defined) excluding net loans included in the legacy exposures (as defined)
Net zero emissions	The reduction of greenhouse gas emissions to net zero through a combination of reduction activities and offsetting investments.
New lending	New lending includes the disbursed amounts of the new and existing non-revolving facilities (excluding forborne or re-negotiated accounts) as well as the average year-to-date change (if positive) of the current accounts and overdraft facilities between the balance at the beginning of the period and the end of the period. Recoveries are excluded from this calculation since their overdraft movement relates mostly to accrued interest and not to new lending.
NII sensitivity	Key simplifying assumptions An instantaneous and sustained parallel movement in EUR interest rates Static balance sheet in size and composition Assets and liabilities whose pricing is mechanically linked to market / central bank rates assumed to reprice accordingly 34% and 7% pass through assumption for EUR Fixed and Notice deposits respectively, and 84% and 1% pass through assumption for USD Fixed and Notice deposits respectively

Non-interest income	Non-interest income comprises Net fee and commission income, Net foreign exchange gains and net gains/(losses) on financial instruments and (excluding net gains on loans and advances to customers at FVPL), Net insurance result, Net (losses)/ gains from revaluation and disposal of investment properties and on disposal of stock of properties, and Other income.
Non-recurring items	Non-recurring items as presented in the 'Unaudited Consolidated Income Statement–Underlying basis' relate to 'Advisory and other transformation costs - organic'.
NPE coverage ratio (previously 'NPE Provisioning coverage ratio')	The NPE coverage ratio is calculated as the allowance for expected loan credit losses (as defined) over NPEs (as defined).
NPE ratio	NPEs ratio is calculated as the NPEs as per EBA (as defined) divided by gross loans (as defined).
NPEs	As per the European Banking Authorities (EBA) standards and European Central Bank's (ECB) Guidance to Banks on Non-Performing Loans (which was published in March 2017), non-performing exposures (NPEs) are defined as those exposures that satisfy one of the following conditions: (i) The borrower is assessed as unlikely to pay its credit obligations in full without the realisation of the collateral, regardless of the existence of any past due amount or of the number of days past due. (ii) Defaulted or impaired exposures as per the approach provided in the Capital Requirement Regulation (CRR), which would also trigger a default under specific credit adjustment, diminished financial obligation and obligor bankruptcy. (iii) Material exposures as set by the CBC, which are more than 90 days past due. (iv) Performing forborne exposures under probation for which additional forbearance measures are extended. (v) Performing forborne exposures previously classified as NPEs that present more than 30 days past due within the probation period. From 1 January 2021 two regulatory guidelines came into force that affect NPE classification and Days-Past-Due calculation. More specifically, these are the RTS on the Materiality Threshold of Credit Obligations Past-Due (EBA/RTS/2016/06), and the Guideline on the Application of the Definition of Default under article 178 (EBA/RTS/2016/07). The Days-Past-Due (DPD) counter begins counting DPD as soon as the arrears or excesses of an exposure reach the materiality threshold (rather than as of the first day of presenting any amount of arrears or excesses). Similarly, the counter will be set to zero when the arrears or excesses drop below the materiality threshold. Payments towards the exposure that do not reduce the arrears/excesses below the materiality threshold, will not impact the counter. For retail debtors, when a specific part of the exposures of a customer that fulfils the NPE criteria set out above is greater than 20% of the gross carrying amount of all on balance sheet exposures of that customer, then the total customer exposure is classified as non-performing; otherwise only the specific part of the exposure is classified as non-performing. For non-retail debtors, when an exposure fulfils the NPE criteria set out above, then the total customer exposure is classified as non-performing. Material arrears/excesses are defined as follows: (a) Retail exposures: Total arrears/excess amount greater than €100, (b) Exposures other than retail: Total arrears/excess amount greater than €500 and the amount in arrears/excess in relation to the customer's total exposure is at least 1%. The NPEs are reported before the deduction of allowance for expected loan credit losses (as defined).

Non-legacy (performing)	Relates to all business lines excluding Restructuring and Recoveries Division ("RRD"), REMU and non-core overseas exposures.
NSFR	The NSFR is calculated as the amount of "available stable funding" (ASF) relative to the amount of "required stable funding" (RSF). The regulatory limit, enforced in June 2021, has been set at 100% as per the CRR II.
OMV	Open Market Value.
Operating profit	Operating profit comprises profit before loan credit losses (as defined), impairments of other financial and non-financial assets, provisions for pending litigation, claims, regulatory and other matters (net of reversals), tax, profit attributable to non-controlling interests and non-recurring items (as defined).
Phased-in Capital Conservation Buffer (CCB)	In accordance with the legislation in Cyprus which has been set for all credit institutions, the applicable rate of the CCB is 1.25% for 2017, 1.875% for 2018 and 2.5% for 2019 (fully phased-in).
p.p.	percentage points.
Profit/(loss) after tax and before non recurring items (attributable to the owners of the Company)	This refers to the profit after tax (attributable to the owners of the Company), excluding any 'non-recurring items' (as defined).
Profit/(loss) after tax – organic (attributable to the owners of the Company)	This refers to the profit or loss after tax (attributable to the owners of the Company), excluding any 'non-recurring items' (as defined, except for the 'advisory and other transformation costs – organic').
Qoq	Quarter on quarter change.
REMU	Real Estate Management Unit
Restructured loans	Restructuring activity within quarter as recorded at each quarter end and includes restructurings of NPEs, performing loans and re-restructurings.
Return on Tangible equity (ROTE)	Return on Tangible Equity (ROTE) is calculated as Profit/(loss) after tax (attributable to the owners of the Company) (as defined) (annualised - (based on year - to - date days)), divided by the quarterly average of Shareholders' equity minus intangible assets at each quarter/year end.

Return on Tangible equity (ROTE) on 15% CET1 ratio	Calculated as Profit/(loss) after tax (attributable to the owners of the Company) (annualised - (based on year - to - date days), divided by the quarterly average of Shareholders' equity minus intangible assets and after deducting the excess CET1 capital on a 15% CET1 ratio from the tangible book value.
RRD	Restructuring and Recoveries Division.
RWAs	Risk Weighted Assets.
RWA Intensity	Risk Weighted Assets over Total Assets.
Special levy on deposits and other levies/contributions	Relates to the special levy on deposits of credit institutions in Cyprus, contributions to the Single Resolution Fund (SRF), contributions to the Deposit Guarantee Fund (DGF), as well as the DTC levy, where applicable.
Stage 2 & Stage 3 Loans	Include purchased or originated credit-impaired.
Tangible book value per share	Calculated as the total equity attributable to the owners of the Company, (i.e. not including other equity instruments, such as AT1) less intangible assets at each quarter/year end divided by the number of ordinary shares (excluding treasury shares) of the period/quarter end.
Tangible book value per share excluding the cash dividend	Calculated as the total equity attributable to the owners of the Company, (i.e. not including other equity instruments, such as AT1) less intangible assets at each quarter/year end and the amounts of cash dividend recommended for distribution in respect of earnings of the relevant year the dividend relates to, divided by the number of ordinary shares (excluding treasury shares) of the period/quarter end.
Tangible Collateral	Restricted to Gross IFRS balance.
Total Capital ratio	Total capital ratio is defined in accordance with the Capital Requirements Regulation (EU) No 575/2013, as amended by CRR II applicable as at the reporting date.
Total expenses	Total expenses comprise staff costs, other operating expenses and the special levy on deposits and other levies/contributions. It does not include 'advisory and other transformation costs-organic', where applicable. 'Advisory and other transformation costs-organic' amounted to nil for 2Q2025 (compared to nil for 1Q2025 and 1H2024).
Total income	Total income comprises net interest income and non-interest income (as defined).
Total loan credit losses, impairments and provisions	Total loan credit losses, impairments and provisions comprise loan credit losses (as defined), plus impairments of other financial and non-financial assets, plus provisions for pending litigation, claims, regulatory and other matters (net of reversals).
T2	Tier 2 Capital.
Underlying basis	This refers to the statutory basis after being adjusted for reclassification of certain items as explained in the Basis of Presentation.
Write offs	Loans together with the associated loan credit losses are written off when there is no realistic prospect of recovery. Partial write-offs, including non-contractual write-offs, may occur when it is considered that there is no realistic prospect for the recovery of the contractual cash flows. In addition, write-offs may reflect restructuring activity with customers and are part of the terms of the agreement and subject to satisfactory performance.
Yoy	Year on year change.

AI Terminal

Bank of Cyprus Holdings PLC

2451_rns_2025-08-05_9eddd6cd-d8fb-4428-9d94-9c2260c89431.pdf

Bank of Cyprus Group

DISCLAIMER

Important Notice Regarding Additional Information Contained in the Investor Presentation

Forward Looking Statements

Table of Contents

Why Bank of Cyprus

Strong, Supportive Macro Market Leader

Diversified & Sustainable Profitability

1 player in Banking sector

1 Life and #2 Non-Life Insurance in Cyprus

1 in domestic card processing and payment solutions

Strong Capital Buffers & Distribution Capacity

Resilient and Growing Cypriot Economy Despite Global Financial Instability

GDP expected to grow by c.3.0% in 2025, outpacing Euro area average

Expected at c.3.0%1 for 2025 (vs 0.9%2 for Eurozone average)

Cyprus inflation controlled at 0.5% in June 2025

Strong sovereign rating, 3 notches above investment grade

S&P

Source: Cystat, Eurostat

Cypriot Economy Outperforming European Average; Fiscal Surplus Since 2022

Strong public debt to GDP, below Euro area average Rebound in public finances from 2022 onwards

Strong tourism performance, ahead of 1H2024 record arrivals

2Q2025- Strong Performance Maintained Across Key Metrics

Profit after tax flat qoq at €118 mn

Cost to income ratio1at 37%

Cost of risk reduced to 32 bps reflecting strong asset quality

Shareholder Value Creation

2025 Guidance: 70% Distribution and Upside to ROTE Target

2025 Distribution at 70% and Initiation of Interim Dividend

2025 Distribution planned at top end of payout range

Table of Contents

Income Statement

Highly Liquid Balance Sheet Being Positioned for Lower Rates

Resilient NII Amid Rate Normalisation Cycle Underpinned by Volume Growth and Deposit Behaviour

NII remained strong at €182 mn; NIM at 298 bps Effective yield on assets & cost of funding

Outlook

Continued Hedging Actions Further Reducing NII Sensitivity

Outlook

Deposits up 6% yoy; Improved Deposit Pricing and Mix

Group deposits by UBO country of residence

Cypriot banks have lower L/D ratios compared to Euro area peers

Strong New Lending at €1.6 bn; up 31% yoy

New lending at €760 mn in 2Q2025

Gross performing book2 up 5% since December 2024

Outlook

Fixed Income Portfolio up 21% yoy, Representing 17% of Total Assets

Non-NII at €72 mn in 2Q2025, up 5% qoq

Non-NII continues covering 70-80% of total operating expenses5

Outlook

Profitable Life Insurance Business - Valuable and Sustainable Contribution to the Group

Profitable Non–Life Insurance Business - Valuable and Sustainable Contribution to the Group

Acquisition of Ethniki Insurance Cyprus Ltd Completed in July 2025

Key financials

Strengthening leading position in insurance sector…

…bolstering Non-NII contribution to Group's revenues

Leading Card Processing and Payment Solutions Business in Cyprus

Strong transaction growth in value; up 14% yoy

Leveraging on Digital Offerings to Enhance Group's Sales and Customer Experience…

…While Continuously Investing in New Digital Initiatives Engaging Clients

Recent key digital initiatives

Digital Housing Loan

JINIUS; Leader in Shaping the Digital Local Economy

Business-to-Business (B2B)

Business-to-Consumer (B2C)

Going forward…

Progress in 1H20251

Contribution to the Group

2Q2025 Cost to Income ratio1 at 37%

Total operating expenses1 up 8% yoy and 7% qoq

Cost to income ratio1 at 36% in 1H2025

QoQ Performance (2Q2025 vs 1Q2025)

Outlook

1) Excluding special levy on deposits and other levies/contributions

Cost of Risk at 36 bps in 1H2025

Bank's IFRS 9 macroeconomic assumptions

Outlook

Quarterly cost of risk

Expected at c.3.0%¹ for 2025 (vs 0.9%² for Eurozone average)

Cost to income ratio¹at 37%

Gross performing book² up 5% since December 2024

Non-NII continues covering 70-80% of total operating expenses⁵

Progress in 1H2025¹

2Q2025 Cost to Income ratio¹ at 37%

Total operating expenses¹ up 8% yoy and 7% qoq

Cost to income ratio¹ at 36% in 1H2025

min OCR¹ requirement June 2025

IDEA¹ Innovation Center

Buffer to MDA Restrictions Level & Distributable Items¹

Income Statement Bridge¹ for 1H2025

€ bn LTV² 4.01 0.76 Private Individuals Hotels & Catering Real Estate Trade Other sectors Professional & Other services Transportation (including shipping) Manufacturing Other 4.77 1.22 0.90 0.90 0.74 0.74 0.51 0.46 Housing