BNP Paribas

Investor Presentation • Oct 28, 2025

RESULTS

THIRD QUARTER 2025

28 OCTOBER 2025

DISCLAIMER

The figures included in this presentation are unaudited.

As a reminder, on 28 March 2025, BNP Paribas published quarterly series for 2024, restated to reflect, among other things, the transposition into European Union law of the finalisation of Basel 3 (Basel 4) by Regulation (EU) 2024/1623 of the European Parliament and of the Council of 31 May 2024 amending Regulation (EU) No 575/2013, the change in the allocation of normalized equity from 11% to 12% of risk-weighted assets, and the reclassification of income and business data from the non-strategic perimeter of Personal Finance to Corporate Centre. This presentation reflects this restatement.

This presentation includes forward-looking statements based on current beliefs and expectations about future events. Forward-looking statements include financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations with respect to future events, operations, products and services, and statements regarding future performance and synergies. Forward-looking statements are not guarantees of future performance and are subject to inherent risks, uncertainties and assumptions about BNP Paribas and its subsidiaries and investments, developments of BNP Paribas and its subsidiaries, banking industry trends, future capital expenditures and acquisitions, changes in economic conditions globally, or in BNP Paribas' principal local markets, the competitive market and regulatory factors. Those events are uncertain; their outcome may differ from current expectations which may in turn significantly affect expected results. Actual results may differ materially from those projected or implied in these forward-looking statements. Any forward-looking statement contained in this presentation speaks as of the date of this presentation.

Consequently, actual results may differ from those projected or implied in these forward-looking statements due to a variety of factors. These factors include among others: i) BNP Paribas's ability to achieve its objectives, ii) the impacts from central bank interest rate policies, whether due to continued elevated interest rates or potential significant reductions in interest rates, iii) changes (including interpretation) in regulatory capital and liquidity rules, iv) continued elevated levels of, or any resurgence in, inflation and its impacts, v) the various geopolitical uncertainties and impacts related notably to the war in Ukraine, conflicts in the Middle East, vi) the various uncertainties and impacts related to political instability, including in France, or vi) the precautionary statements included in this presentation.

BNP Paribas undertakes no obligation to publicly revise or update any forward-looking statements in light of new information or future events. It should be recalled in this regard that the Supervisory Review and Evaluation Process is carried out each year by the European Central Bank, which can modify each year its capital adequacy ratio requirements for BNP Paribas.

The information contained in this presentation as it relates to parties other than BNP Paribas or derived from external sources has not been independently verified and no representation or warranty expressed or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained herein. Neither BNP Paribas nor its representatives shall have any liability whatsoever in negligence or otherwise for any loss however arising from any use of this presentation or its contents or otherwise arising in connection with this presentation or any other information or material discussed.

The sum of values contained in the tables and analyses may differ slightly from the total reported due to rounding. The alternative performance measures are defined in the press release published jointly with this presentation.

Key points

KEY POINTS | Solid results in line with our > €12.2bn 2025 net income target

		3Q25 (€m)	Chg. vs. 3Q24
Revenue growth driven by our diversified model	⎯ Revenues	12,569	+5.3%
• Operating divisions excl. AXA IM*: +3.5% vs. 3Q24; +4.9% at constant exchange rates
• CIB (+4.5%): Very good quarter despite the exchange-rate impact (+7.7% at constant exchange rates)
• CPBS (+3.1%): Good performances at Commercial & Personal Banking in the Euro Zone; improvement at Specialised Businesses
• IPS (+2.9% excl. AXA IM*): Robust organic activity
Cost control and operating efficiency	⎯ Operating	7,610	+5.5%
• Operating divisions excl. AXA IM*: +1.5% vs. 3Q24	expenses
• Positive jaws effect of operating divisions excl. AXA IM*: +2.0 pts
Gross Operating Income	⎯ GOI	4,959	+4.9%
risk1 below Cost of 40bps	⎯ Cost of risk1	39bps
Pre-tax income	⎯ Pre-tax income	4,284	+5.5%
• Operating divisions excl. AXA IM*: +5.0% vs. 3Q24
income2 Net in line with the >€12.2bn 2025 target	Net income2 ⎯	3,044	+6.1%
Net tangible book value per share as of 30.09.25	TBV3 ⎯	€91.2
structure: CET14 Ratio at 12.5% at 30.09.25 Very solid financial

* Consolidation of AXA IM as of 1 July 2025. Restatement performed for better comparison of operational divisions' performance between 3Q24 and 3Q25

KEY POINTS | Our 3Q25 performance is in line with our 2025 net income target

KEY POINTS | Strong growth levers at the core of our integrated model, with cross-sell representing $\sim 1/3$ of the Group's revenues

9M25	% Group revenues	% Group RWA	C/I	RoNE¹ (%)	Growth levers and contribution to Group RoTE 2 trajectory
CIB Global Banking Global Markets Securities Services	38%	34%	56.4%	22.2%	Scaled-up platform and growth engine Steady increase in RoNE¹ (13.3% in 2016; 23.9% in 2024)
CPBS					Commercial & Personal Banking in the Euro Zone: rebound confirmed, driven by the interest-rate environment
Commercial & Personal Banking	34%	37%	65.9%	14.1%	2028 CPBF and PF plans: projected +1% impact on Group RoTE2, of which +0.5% by 2026
					Upcoming CPBB Plan: Deep Dive in 1H26
Specialised Businesses	18%	19%	52.2%	13.0%	BNP Paribas Polska Plan: CMD on 11 Dec. 2025 Arval: strong organic growth; last significant base-effect linked to used-car price in 3Q25
IPS					AXA IM: projected impact on the Group's RoTE2 trajectory: >+0.5% by 2028
Insurance Asset Management Wealth Management	13%	8%	59.2%	23.7%	Wealth Management: external growth and development of the European platform
					BNP Paribas Cardif: external and organic growth, partnerships

The continued increase in the Group's profitability (2028 RoTE² = 13%) will accelerate capital generation (CET1 ratio expected at 12.5% by end-2027)

KEY POINTS | The integration of AXA IM is a highly accretive, strategic lever of transformation

Our 2024-2026 trajectory supports the acceleration of total shareholder return KEY POINTS |

Distribution policy 60% (50% dividends, 10% share buybacks)

Targets	2024	2026e
RoTE	11%	12%
Net income1	€11.7bn	CAGR 24-26 > +7%
EPS2	€9.57	CAGR 24-26 > +8%
Levers	2024	2026e
Revenues	€48,831m	CAGR 24-26 > +5%
Jaws effect	+2 pts	+1.5 pts/ yr on average
Cost of risk3	33bps	< 40bps

• SECTION 2 -

Focus: AXA IM

The bank for a changing world

Creating a European leader in asset management, at the core of our integrated model AXA IM INTEGRATION |

⎯ …thereby generating significant synergies

~€550m

Revenue and cost synergies by 2029*

Insource operations & asset management expertise

Develop partnerships

with insurers and pension funds, beyond AXA and BNP Paribas Cardif

Accelerate crossselling

within the Group, with the 3 operating divisions

Foster the distribution set-up

of our Originate & Distribute model

Deploy distribution of alternative assets

internally and externally

*Financial estimates

AXA IM INTEGRATION | Scaling-up with unique growth levers

⎯ Unique growth levers

The only European asset manager with a full and scaled-up offering

• Alternative assets
• Active and thematic strategies
• Fast-growing passive and ETF strategies

A unique integrated Group model, with special access to permanent capital, asset origination partnerships, and distribution capacities

Strong capabilities in asset management for insurers with strategic partnerships with AXA and BNP Paribas Cardif and a scaled-up fixed-income platform (~€750bn in AuM)

Acknowledged leadership in sustainable investment, contributing to long-term performance and meeting client expectations

AXA IM INTEGRATION | Our roadmap

Leveraging on the strength of a comprehensive, high-performing offering

• ⎯ Alternative assets: Strengthening our leadership
• Significant growth potential based on a strong track-record and blockbuster funds
  • Leader in real-estate assets and an expert in decarbonisation
  • Acknowledged performance track-record in all private credit assets
  • Unique capabilities in long-term infrastructure assets
  • Private equity expertise, including on secondaries

• Aligning interests: AXA, BNP Paribas and 3rd party investors

• ⎯ Liquid assets: Capitalising on our critical mass

• Scaled-up, high-performing and distinctive strategies
  • Comprehensive fixed income platform
  • Equity conviction strategies and leadership in sustainable thematics
• ETFs (active and passive): strongest growth¹ in Europe in 2025, acceleration plan

Unique capacity among European asset managers to offer a comprehensive range of solutions across the liquid-illiquid spectrum

Offering solutions addressing our clients' needs

• ⎯ Institutionals: Resetting market standards
• Strategic partnerships with AXA and BNP Paribas Cardif
• Developing the activity with 3 rd party insurers, thanks to unique capabilities and a dedicated value proposition

• A benchmark platform for insurers and pension funds

• ⎯ Retail & Wealth Management: Unlocking our potential

• Partnerships with BNP Paribas (Wealth Management, CPBS) and AXA distribution networks
• Broader distribution of alternative assets
• Suite of modular services and innovative digital solutions for developing external distribution

AXA IM INTEGRATION |~€550m in estimated revenue and cost synergies* by 2029

⎯ Revenue synergies*: capitalising on the integrated model to accelerate growth ~€150m Pre-tax Net of additional costs Insourcing of asset management operations and capabilities Acceleration of business development

• ⎯ Restructuring charges and other items (pre-tax)
• ~€690m of restructuring charges*
• ~€100m: annual amortisation of partnership agreement

CET1 ratio impact - 35 bps €2,800m of invested capital

S E C T I O N 3

3Q25 results Group

PROFIT & LOSS STATEMENT

€m	3Q25	3Q25 (excl. AXA IM)	3Q24	Chg. vs. 3Q24
Net Banking Income (NBI)	12,569	12,225	11,941	+5.3%
Operating expenses	-7,610	-7,284	-7,213	+5.5%
Gross Operating Income	4,959	4,940	4,728	+4.9%
Cost of risk	-905	-905	-729	+24.1%
Other net losses for risk on financial instruments1	-14	-14	-42	n.s.
Operating income	4,040	4,021	3,957	+2.1%
Non-operating items	244	240	103	n.s.
Pre-tax income	4,284	4,261	4,060	+5.5%
Tax*	-1,076		-1,051	+2.4%
Net income, Group share	3,044		2,868	+6.1%

^* Average corporate income tax rate: 26.5% (3Q25); 27.4% (3Q24)

Change at constant exchange rates, Group: NBI (+6.6%), Operating expenses (+6.8%), GOI (+6.4%), Pre-tax income (+7.4%)

EXCEPTIONAL ITEMS AND INTEGRATION OF AXA IM

€m	3Q25	3Q24
Total revenues (a)	-	-
Restructuring costs and adaptation costs	-89	-64
IT reinforcement costs	-65	-81
Total operating expenses (b)	-154	-146
Revaluation of equity investments	+100	-
Total other non-operating income (c)	+100	0
Total exceptional items (before-tax) (a) + (b) +(c)	-54	-146
Total exceptional items (after-tax)	-9	-112
Effects of the hyperinflation situation in Türkiye1
Impact on pre-tax income	-75	-65
Impact on Net Income, Group share	-64	-60

Integration of AXA IM – Impacts in 3Q25: AXA IM 3Q25 revenues (+€367m of which -€19.5m of partnership amortisation), AXA IM 3Q25 operating expenses (-€262m), 3Q25 integration costs in the Corporate Centre (-€64m)

OPERATING EFFICIENCY |

Jaws effect is positive in each operating division (excl. AXA IM) in 3Q25

• CIB: Continued growth at marginal cost; jaws effect of +3.4 pts, especially high at Securities Services (+6.5 pts); cost-income ratio decreasing at a low level at CIB (58.3%)
• CPBS: Very positive jaws effect at Commercial & Personal Banking in the Euro Zone (+2.6 pts), Europe-Mediterranean (+1.9 pts), PF (+5.2 pts), Arval & LS excl. used-car revenues (+0.8 pts), and PI & New Digital Businesses (+3.7 pts)
• IPS: Decrease in operating expenses excl. AXA IM, while continuing to support growth; jaws effect very positive in all operating business lines

OPERATING EFFICIENCY |

We are advancing our operating efficiency initiatives in all divisions

⎯	of jaws effect and cost control	The 2028 PF and CPBF strategic plans are ambitious in terms
	% in Group operating expenses in 2024	Target 24-28 jaws effect (on average)
CPBF1	14.6%	+3-4 pts
PF	8.5%	~+4 pts

COST OF RISK | Risk under control thanks to the quality and diversification of the portfolio

COST OF RISK | Risk remains low in all business activities

Cost of risk¹ / outstanding customer loans (beginning of period (bps)), including 100% of Private Banking for Commercial & Personal Banking

• €85m (-€37m vs. 3Q24)
• Very low level in connection with stage 1 & 2 releases

• €24m (+€41m vs. 3Q24)
• Low cost of risk
• Reminder: releases of stage 1 & 2 provisions in 3Q24

• €57m (-€57m vs. 3Q24)
• Cost of risk lower, in connection with the reduction in stage 3 provisions

• €74m (+€30m vs. 3Q24)
• Normalisation compared to a low 3Q24 base
• Increase in Türkiye for Individual customers in connection with the current interest-rate and inflation context

• ⎯ Global Banking
• €2m (-€14m vs. 3Q24)
• Cost of risk at a low level
• ⎯ Global Markets
• Impact of a specific file

• €374m (+€4m vs. 3Q24)
• Lower stage 3 provisions confirming structural improvement in the risk profile

CAPITAL |

We have generated +30bps of organic capital this quarter We exceed our 2026 target of 12.3% pre-FRTB

CET1 ratio = 12.5% by 2027, post-FRTB

*Internal analysis based on a sample: BBVA, Santander, UniCredit, Intesa Sanpaolo, DB, CASA, SG, ING

Going forward, the change in RWA will be essentially driven by organic RWA⁵

Disciplined Originate & Distribute model, light in organic RWAs⁵ consumption

RWA: CAGR 2021-2024

LONG-TERM DEBT RATINGS BY DEBT CATEGORY*

	Standard & Poor's	Moody's	Fitch Ratings	DBRS
Senior Preferred	A+	A1	AA	AA (Low)
Senior Non-Preferred	A-	Baa1	A+	A (High)
Tier 2	BBB+	Baa2	A-	A
Additional Tier 1	BBB-	Ba1	BBB	NA
Outlook	Stable	Stable	Stable	Stable

^* Latest Rating Committee Date (17 June 2025). Any rating action may occur at any time

SUSTAINABLE DEVELOPMENT | We continue supporting our clients' transition and biodiversity

⎯ Our continuous drive to supporting our clients in their energy transition, decarbonisation and biodiversity projects…

WIND POWER

£3.6bn project finance for the largest offshore windfarm of both Sponsors, Iberdrola and Masdar – Mandated Lead Arranger

Since 2012, we have supported 48 wind farms / 29.4 GW, o/w 24.7 GW in Europe

SOLAR POWER

\$270m green loan to Grenergy, contributing to the \$1.5bn Elena project, one of the world's largest renewable energy and battery storage projects Green Loan Coordinator

MANUFACTURING

€1.7bn in financing for one of Europe's largest decarbonisation initiatives from the German steelmaker SHS – Mandated Lead Arranger

MOBILITY

€1bn sustainability-linked and green loans to Ferrovie Nord Milano to finance hydrogen production as train fuel – Global and Sustainability Coordinator

BIODIVERSITY

Partnership with Everland on an outcome bond initiative financing community-led conservation projects in the Amazon via carbon markets

A REINFORCED INTERNAL CONTROL SET-UP

An even more solid compliance, conduct and control set-up and ongoing insertion of reinforced conduct culture into daily operations

• Ongoing improvement of the operating model for combating money laundering and terrorism financing
• A standards-based, risk-adjusted approach, with a risk management set-up shared between business lines and Compliance officers (know-your-client, reviewing unusual transactions, etc.)
• Group-level steering with regular reporting to supervisory bodies
• Ongoing reinforcement of set-up for complying with international financial sanctions
• Thorough and diligent implementation of measures necessary for enforcing international sanctions as soon as they have been published
• Broad dissemination of the procedures and intense centralisation, guaranteeing effective and consistent coverage of the surveillance perimeter
• Continuous optimisation of cross-border transaction filtering and relationship databases screening tools
• Ongoing improvement of the anti-corruption framework with integration into the Group's operational processes
• Strengthening of the conduct and market transactions supervision framework
• Intensified on-line training programme: compulsory programmes for all employees on financial security (Sanctions & Embargos, Combating Money Laundering & Terrorism Financing and on Combating Corruption), protecting clients' interests, market integrity, and all topics dealt in the Group's Code of Conduct
• Ongoing regular missions of the General Inspection dedicated to auditing financial security within entities generating USD flows. These successive missions have been conducted since the start of 2015 in the form of 18-month cycles. At the end of the 7th cycle, the processing and control mechanisms of these entities are considered mature. The 8th cycle, which began in September 2025, will ensure their sustainability

3Q25 Results Operating divisions

CIB | 3Q25 was a record quarter, reflecting the strength of our Originate & Distribute model

CIB (M€)	3Q25	3Q24	Var.
(NBI) Revenues	4,458	4,267	+4.5%
Operating expenses	-2 599 ,	-2 571 ,	+1 1%
Gross Operating Income	1,858	1,697	+9.5%
Cost of Risk and others	-195	-27	n.s
Other Results	2	3	n.s
Pre-tax income	1,666	1,672	-0.4%
Cost/Income ratio	58 3%	60 2%	-1 9 pt

Cost/Income ratio	58 3%	60 2%	-1 9 pt
RWA , end of period (€bn)	256 6	277 0	3% -7
RONE (annualised basis)	18 5%	18 3%	+0 2 pt

• Global Banking – NBI: €1,454m (-2.6% vs. 3Q24)
• Global Markets – NBI: €2,228m (+9.4% vs. 3Q24)

FICC: €1,257m (+3.7% vs. 3Q24)

Equity & Prime Services: €971m (+17.9% vs. 3Q24)

• Securities Services – NBI: €775m (+5.0%vs. 3Q24)

⎯ Global Banking

• Resilience of Global Banking in a more challenging context than last year, with tariff announcements, geopolitical uncertainties, and wait-and-see attitude by some corporate clients. Impact of the \$/€ depreciation and lower interest rates
• Sustained activity in Capital Markets
• Sustained business drive in Transaction Banking, partly offsetting the impact of lower interest rates

⎯ Global Markets

• Growth despite the \$/€ depreciation
• Strong momentum in Equity & Prime Services (EPS) in the three segments of derivatives, cash, and prime services
• FICC up thanks to securities lending activities and credit activities

⎯ Securities Services

• Good performance supported by business drive and a high level of transactions, offset partly by a slowdown in net interest revenues against a backdrop of lower interest rates

CIB | A capital-efficient platform growing at marginal cost

CIB success story

	2016	2024 1	9M25
NBI (€bn)	11.5	17.9	14.4 (+7.1%)
Cost-income ratio (%)	72%	60%	56.4% (-1.6 pts)
NBI/RWA (%)	5.9%	7.0%	7.2%
GOI/RWA (%)	1.6%	2.8%	3.1%
Pre-tax RoNE	13.3%	23.9%	22.2%

Grow by winning market share: Revenues rising twice as fast as the total revenue pool² from 2016 to 2024

Grow at marginal cost: strong improvement in the costincome ratio between 2016 (72%) and 2024 (60%)

Grow with stable RWA: CIB RWA organic CAGR (2016-2024) limited to +0.4%

Key drivers in resilience and steady growth

57% revenues based mostly on flow businesses

A diversified business mix and distinctive risk culture

50% A balanced client mix:

50% corporates and 50% financial institutions

A transregional model:

Increase in AMER & APAC contribution

CPBS | Good overall performance in 3Q25 driving an increase in pre-tax income

€m	3Q25	3Q24	Var.
Revenues	6,621	6,423	+3.1%
Operating Expenses and Dep.	-3,860	-3,770	+2.4%
Gross profit operating	2,761	2,653	+4.1%
Cost of Risk and others	-718	-737	-2.6%
Other Results	133	98	+35.6%
Pre-Tax Income	2,176	2,014	+8.1%
Cost/Income ratio	58.3%	58.7%	-0.4 pt
(€bn) Loans	650.0	639.1	+1.7%
Deposits (€bn)	565.2	567.2	-0.4%
RWA, end of period (€bn)	434.0	439.6	-1.3%
RONE (annualised basis)	14.6%	13.4%	+1.2 pt

Including 2/3 of Private Banking for the profit & loss statement and 100% of Private Banking for loans and deposits

• CPBS – NBI: €6,621m
• Commercial & Personal Banking – NBI: €4,296m (+5.6% vs. 3Q24)
• Commercial & Personal Banking in the Euro Zone – NBI: €3,366m (+3.5% vs. 3Q24)
• Specialised Businesses – NBI: €2,326m (-1.2% vs. 3Q24)

⎯ Commercial & Personal Banking

• Net interest revenues: continued growth at +6.6% vs. 3Q24
• Fees: good momentum in all networks at +3.7% vs. 3Q24
• Private Banking: increase in AuM (+3.5% vs. 3Q24)
• Hello bank!: ongoing development, with 3.8 millions customers (+4.0% vs. 3Q24)

⎯ Specialised Businesses

• Arval & Leasing Solutions: +9.3% in organic NBI at Arval and decreasing base effect due to the normalisation of used-car prices; increased revenues at Leasing Solutions (+2.0% vs. 3Q24)
• Personal Finance: good increase in revenues of +5.0% vs. 3Q24 with a steady improvement in new business margins (>5.0% rate on outstanding loans)
• New Digital Businesses and Personal Investors: +13.3% vs. 3Q24 at constant scope and exchange rates; confirmation of the 2025 revenue target > €1bn

⎯ Digitalisation

• Ongoing development of digital use cases at a sustained pace (17.3m active customers¹ per month, up +10.4% vs. 3Q24)

Three major tailwinds already in place to support future performance CPBS |

⎯ Tailwind #1: Rebound in net interest revenue in Commercial & Personal Banking in the Euro Zone

⎯ 2025 deposit assumptions

• Stable volume and deposit mix
• Significant increase in deposit margin thanks to nonremunerated deposits and, to a lesser extent, savings accounts

— 2025 interest-rate assumptions

• ~2% for the ECB deposit rate
• ~2.5% for the 10-year €ster rate
• Livret A rate already factored into the trajectory

⎯ Sensitivity

• Sight deposit volume is the main driver of NII
• +/- €1bn: NII impact of +/- ~€20m on an annual basis

⎯	Tailwind #2: CPBF & PF 2028 strategic plans
	Personal Finance (PF)	CPBF (100% PB)
Customer loans outstanding1	~+4% CAGR 24-28	~+1% CAGR 24-28
Revenues	~+5.5% CAGR 24-28	>+5% CAGR 24-28
Jaws effect	~+4 pts On average 24-28	+3-4 pts On average 24-28
Cost of risk	~1.30%	< 25bps
RWA2	~+1% CAGR 24-28	~+2% CAGR 24-28
RoNE3	>17%	>17%

IPS | AXA IM consolidation and robust organic growth driving the increase in results

€m	3Q25	3Q24	Var.
Revenues	1,899	1,489	+27.5%
Operating Expenses and Dep	-1 138 ,	-881	+29 2%
Gross operating profit	761	609	+25.1%
Cost of Risk and others	2	0	n.s
Other Results	53	38	+39 2%
Pre-Tax Income	816	647	+26.2%
Cost/Income ratio	59 9%	59 1%	+0 8 pt
AuM (€bn)	2 392 ,	1 344 ,	n.s
RWA , end of period (€bn)	59 9	45 7	+31 1%

• Insurance – Revenues: €615m (+7.7% vs. 3Q24)
• Wealth Management – NBI: €452m (+10.4% vs. 3Q24)
• Asset Management – NBI: €464m (-8.6% vs. 3Q24; +6.0% excl. RE & IPS Invest)
• AXA IM – Revenues: €367m
• IPS excl. AXA IM – NBI: +2.9% / 3Q24 ; positive jaws effect (+3.4 pts)

⎯ Insurance

• Robust increase in gross inflows into Savings with a significant percentage into unit-linked contracts; net inflows up sharply with strong momentum in the partnership with BCC Banca ICCREA

⎯ Wealth Management

• Strong net inflows (€4.2bn in 3Q25) internationally and in Commercial & Personal Banking
• Acquisition of HSBC Wealth Management in Germany on 6 October 2025; combined AuM of ~€50bn in Germany

⎯ Asset Management

• Very strong inflows (€12.1bn in 3Q25), and market performance effect drove the increase in fees
• Strengthening of the partnership with BNP Paribas Cardif in managing its general funds
• Real Estate: adjustment in activity and organisational set-up in connection with the upcoming integration of BNP Paribas REIM in the combined AM platform
• IPS Invest: negative base effect with lower revaluations this quarter

⎯ AXA IM

• Consolidated since 1 July 2025
• Continued momentum in launching Alternative funds

IPS | Global assets under management¹ changing scale, reaching ~€2.4 trillion as of 30.09.2025

Our 3rd-quarter results are in line with our trajectory driven by positive operating momentum in all three divisions and our teams' dedication

The integration of AXA IM is a highly accretive, strategic lever of transformation

Our growth levers are in place within each platform, thanks to investments already implemented

Our 2024-2026 trajectory supports the acceleration of shareholder return

ENDNOTES (1/2)

• Slide 4

• 1. Cost of risk does not include "Other net losses for risk on financial instruments"
• 1. Net Income, Group share
• 1. Tangible net book value, revaluated at end of period, in €
• 1. Transition to phased-in ratios and RWA starting from Q2 2025, in order to align with the calculation of the regulatory requirement (MDA calculation), take into account the Group's 2030 horizon, and to reflect the standards used by the market. Phased-in CET1 calculated on the basis of €779bn in risk-weighted assets as of 30.09.2025; including transitional arrangements as defined in Art.465, 468 and 495 of CRR

• Slide 6

• 1. RONE: Pre-Tax net income / Allocated equity
• 1. ROTE: Return on non revaluated tangible equity, see appendices for detailed computation

• Slide 7

1. RoIC: projection of net income group share generated from 2028 on redeployed capital, divided by the allocation of corresponding CET1 capital (35 bps, €2,800m invested capital)

• Slide 8

• 1. Net Income, Group share
• 1. Earnings per share calculated on the basis of Net income, Group share, adjusted for the remuneration of undated super-subordinated notes and the average number of shares outstanding
• 1. Cost of risk does not include "Other net losses for risk on financial instruments"

• Slide 10

• 1. Ranking based on assets under management (AuM) as of 31.12.2024, published by the companies. Pro forma combined assets including AuM from the proposed delegation of BNP Paribas Cardif's assets
• 1. Ranking based on assets under management (AuM) as of 31.12.2024 for internal and external insurers and external pension funds (global AuM for European asset managers; European AuM for non-European asset managers).
• 1. Ranking based on alternative AuM as of 31.12.2024. BNP Paribas analysis based on assets under management, including distributed assets and assets under advisory, as reported on 31.12.2024

• Slide 11

1. Assets under management including distributed assets and assets under advisory

• Slide 12

1. Ranking of the top 10 ETF providers in Europe, based on the NNC ratio for the first 9 months of 2025 (9M2025) relative to assets under management at the end of 2024

• Slide 15

1. Charges related to the risk of invalidation or non-enforceability of financial instruments granted

• Slide 16

1. Application of IAS 29 and reflecting the performance of the hedge in Türkiye (CPI linkers)

• Slide 18

1. Including 2/3 of Private Banking

• Slide 19

• 1. Cost of risk does not include "Other net losses for risk on financial instruments"
• 1. Investment Grade external rating or internal equivalent; breakdown in gross balancesheet credit exposure as of 30.06.25

• Slide 20

1. Cost of risk does not include "Other net losses for risk on financial instruments"

• Slide 21

• 1. Transition to phased-in ratios and RWA starting from Q2 2025, in order to align with the calculation of the regulatory requirement (MDA calculation), take into account the Group's 2030 horizon, and reflect the standards used by the market. Phased-in CET1 calculated on the basis of €779bn in risk-weighted assets as of 30.09.2025; including transitional arrangements as defined in Art.465, 468 and 495 of CRR
• 1. SREP CET1 requirement: Including countercyclical capital buffer of 73 bps and a systemic risk capital buffer of 14 bps as of 30.09.25
• 1. End of Period LCR calculated in accordance with regulation (CRR) 575/2013 Art. 451b
• 1. Leverage calculated in accordance with Regulation (EU) 575/2013 Art. 429
• 1. Organic RWA: excluding FX, scope, OCI, regulatory and model impact

ENDNOTES (2/2)

• Slide 23

1. Sustainable finance rankings for the first nine months of 2025: GSS bonds (Green, Social, Sustainable, and Sustainability-linked bonds); GSS loans (Green, Social and Sustainability-linked loans). Source: Dealogic.

• Slide 26

1. CAGR: Compound annual growth rate

• Slide 27

• 1. Based on 2024 data as published
• 1. Source: Coalition Greenwich Competitor Analytics, FY16-FY24F. Global CIB revenues in EUR excluding Portfolio Management, rebased to 100 in 2016. FY24F as of December 19th, 2024. Analysis based on Coalition Greenwich Revenue Pool, and BNPP's own numbers and product scope

• Slide 28

1. Monthly average of clients active on our mobile apps

• Slide 29

• 1. Average AuM
• 1. End-of-period risk-weighted assets
• 1. RoNE: Pre-tax income / Allocated equity

• Slide 30

1. Including distributed assets and assets under advisory

• Slide 31

• 1. Including distributed assets and assets under advisory
• 1. Management of a portion of BNP Paribas Cardif general funds transferred to BNP Paribas AM (€69bn)
• 1. Real Estate assets under management: €23bn. AuM of IPS Investments integrated into Asset Management after the Private Assets franchise was set up

APPENDICES Presentation contents – Details by division and other items

⎯ Details by division (3Q25) ⎯ Other items

• ⎯ Key figures and 9M25 results
• ⎯ CIB
• Global Banking
• Global Markets
• Securities Services
• ⎯ CPBS
• Commercial & Personal Banking
• Specialised businesses
• ⎯ IPS
• Insurance
• Wealth and Asset Management

• AXA IM

• Corporate Centre

• Number of shares and Earnings Per Share
• Book value per share
• Return on equity and permanent shareholders' equity
• Doubtful loans / gross outstandings; coverage ratio
• Common Equity Tier 1 ratio Calculation details
• Medium/long-term regulatory funding
• MREL ratio
• TLAC ratio
• Distance to MDA
• Risk-weighted assets
• Liquidity

CONTACTS AND UPCOMING EVENTS

Bénédicte Thibord, Head of Investor Relations and Financial Information

Equity

Raphaëlle Bouvier-Flory Lisa Bugat Tania Mansour Olivier Parenty Guillaume Tiberghien

Debt & ratings agencies

Tania Mansour Olivier Parenty

Individual shareholders & ESG

Antoine Labarsouque

Investor.relations@bnpparibas.com

⎯ Investor Relations ⎯ Upcoming events

Earnings reporting date and General Assembly

• 4Q 2025 Earnings reporting: 5 February 2026
• 1Q 2026 Earnings reporting: 30 April 2026
• General Assembly 2026 : 12 May 2026
• 2Q 2026 Earnings reporting : 23 July 2026

Strategic presentations

• Capital Markets Day BNP Paribas Polska : 11 December 2025
• Deep Dive BCEB : 1H26
• Deep Dive AXA IM : 1H26

The consensus, compiled and aggregated by the Investor Relations team, is available via the following link: Equity BNP Paribas | Investors & Shareholders | BNP Paribas Group

It reflects the arithmetic average forecasts of various P&L headings for the Group, sent by analysts invited by BNP Paribas to contribute to the consensus.