Alpha Services and Holdings S.A.

Investor Presentation • Aug 1, 2025

Alpha Bank Q2 2025 Results

Investor presentation

1 st August 2025

Disclaimer

This presentation has been prepared and issued by Alpha Bank S.A. ("Alpha Bank"), solely for informational purposes. It is hereby noted that on 27.6.2025, the merger by absorption of "Alpha Services and Holdings S.A." by Alpha Bank was completed. References to "Alpha Services and Holdings S.A."., if any, shall be construed to be references to Alpha Bank.

For the purposes of this disclaimer, this presentation shall mean and include materials, including and together with any oral commentary or presentation and any question and answer session. By attending a meeting at which the presentation is made, or otherwise viewing or accessing the presentation, whether live or recorded, you will be deemed to have agreed to the following restrictions and acknowledged that you understand the legal and regulatory sanctions attached to the misuse, disclosure or improper circulation of the presentation or any information contained herein. By reading this presentation, you agree to be bound by the following limitations:

No representation or warranty, express or implied, is or will be made in relation to, and no responsibility is or will be accepted by Alpha Bank (or any member of its Group as to the accuracy, fairness, completeness, reliability or sufficiency of the information contained in this presentation and nothing in this presentation shall be deemed to constitute such a representation or warranty. The information contained in this presentation may contain and/or be based on information that has been derived from publicly available sources that have not been independently verified. Alpha Bank is not under any obligation to update, revise or supplement this presentation or any additional information or to remedy any inaccuracies in or omissions from this presentation.

This presentation does not constitute an offer, invitation or recommendation to subscribe for or otherwise acquire securities. Also, it is not intended to be relied upon as advice to investors or potential investors and does not take into account the objectives, financial situation or needs of any particular investor. You are solely responsible for forming own opinion and conclusion.

Certain statements in this presentation may be deemed to be "forward-looking". You should not place undue reliance on such forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they reflect current expectations and assumptions as to future events and circumstances that may not prove accurate. Forward-looking statements are not guarantees of future performance, and the actual results, performance, achievements or industry results of Alpha Bank's operations, results of operations, financial position and the development of the markets and the industry in which they operate or are likely to operate may differ materially from those described in, or suggested by, the forward-looking statements contained in this presentation. In addition, even if the operations, results of operations, financial position and the development of the markets and the industry in which Alpha Bank operates is consistent with the forward-looking statements contained in this document, those results or developments may not be indicative of results or developments in subsequent periods. A number of factors could cause results and developments to differ materially from those expressed or implied by the forward-looking statements including, without limitation, general economic and business conditions, competition, changes in banking regulation and currency fluctuations.

Forward-looking statements may, and often do, differ materially from actual results. Any forward-looking statements in this document reflect Alpha Bank' current view with respect to future events and are subject to risks relating to future events and other risks, uncertainties and assumptions relating to Alpha Bank's financial position, operations, results of operations, growth, strategy and expectations. Any forward-looking statement speaks only as of the date on which it is made. New factors will emerge in the future, and it is not possible for Alpha Bank to predict which factors they will be. In addition, Alpha Bank cannot assess the impact of each factor on its business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those described in any forward looking statements. Alpha Bank disclaims any obligation to update any forward-looking statements contained herein, except as required pursuant to applicable law.

About Alpha Bank

Alpha Bank S.A. (under the distinctive title Alpha Bank) is a credit institution, listed on the Athens Stock Exchange, and the parent company of the group of companies (Alpha Bank Group). Subsequent to the corporate transformation that took place in June 2025, Alpha Bank absorbed its 100% parent company, Alpha Services and Holdings S.A. and substituted ipso jure, in its capacity as a universal successor, in all assets and liabilities of Alpha Services and Holdings S.A.

Alpha Bank Group is one of the leading Groups of the financial sector in Greece which was founded in 1879 by J.F. Costopoulos. The Bank offers a wide range of high-quality financial products and services, including retail banking, SMEs and corporate banking, asset management and private banking, the distribution of insurance products, investment banking, brokerage and real estate management. https://www.alpha.gr/en/Group/investor-relations

Alpha Bank

	Pages
Business Update	3
Financial Performance	10
Macroeconomic Update	19
P&L	21
Balance Sheet	32
Asset Quality	44
Capital	50
Segmental Information	56
Digital	62
ESG	64

Financial Performance

Macroeconomic Update

PL

Balance Sheet

Asset Quality

Capital

Segmental Information

Digital

ESG

H1 2025 performance reinforces outlook

H1 2025 Group Results

Set strong profitability foundation	Reported Profit After Tax Normalised Profit After Tax	€517mn €460mn	+60% y/y +5% y/y
Resilient Top line & Growth in Fees	Net Interest Income Fee Income	€795mn €229mn	(5%) y/y +16% y/y
Low NPE ratio & Cost of Risk de-escalation	NPE ratio Cost of Risk		3.5% 45bp
Increase in customer balances	Performing loans Customer funds		+15% y/y +9% y/y
Excess capital growth allows for distribution	Organic capital generation Growth in Tangible Book Value5		+111bp +14% y/y

1| Based on normalized profit after tax over average TBV; Calculated after deduction of AT1 coupon payments; Adjusted excluding capital above management target and dividends accrued but not paid; 2| Earnings per share Diluted; based on normalized profit after tax post AT1 coupon; 3| Pro-forma for remaining RWA relief from NPA transactions including mainly Skyline and Athena; 4| Subject to regulatory approval; 5| Adjusted for dividend and buyback

Return on Tangible Equity¹ 14.2% or 11.7% reported

Earnings Per Share² €0.19 or €0.21 reported

Fully Loaded CET1 Ratio 15.7% or 16.2% pro-forma³

50% or €259mn of H1 25 reported profit

€111mn interim

proposed to be paid⁴ in Q4

ELTA: strategic partnership for nationwide financial inclusion

Signed a new exclusive partnership to deliver a full suite of financial services via ELTA's 1,100 service points across Greece.…

… promoting financial inclusion for > 1 million citizens, especially in rural, island, and underserved urban areas

Alpha Bank's technology and expertise will support ELTA's transformation into a modern, customer-centric financial hub

Rationale of the partnership

Expands Alpha Bank's physical footprint to 1,400+ locations, enhancing access for individuals and SMEs 01

02 Opens new revenue and liquidity pools for Alpha Bank, whilst initial set-up costs are small and shared among partners

Services will be rolled out gradually starting H2 25, and ELTA Branches will offer:

• Daily banking (account opening, deposits, payments)
• Exclusive access to Alpha Bank product suite, including loans, insurance, investments

03

Is aligned with our longterm sustainability and growth strategy

Unicredit partnership reinforced

COMMERCIAL PARTNERSHIP

WEALTH & ASSET MANAGEMENT WHOLESALE

• Continued successful collaboration in Wealth with onemarkets Funds launched in 2024, and offering being continuously enhanced – "One-stop shop" investment solution, offering access to global capital markets to over 200k Private and Gold Alpha Bank customers
• Other initiatives launched include collaboration on structured notes and the leveraging of UniCredit's brokerage capabilities
• Ongoing collaboration on Unit Linked products

Highlights:

• ✓ onemarkets c.€605mn of funds already distributed¹
• ✓ Structured notes 5 private placement since partnership commenced
• ✓ Three AlphaLife Unit Link product issuances in collaboration with UniCredit in 2024 and 2025 YTD (c.€110mn total notional)

• Providing Alpha Bank's clients with access to UniCredit's pan-European network, thus solidifying our position as the bank of choice for our over 5k wholesale group of companies
• Collaboration already well underway in:
• o Trade finance and Transaction banking
• o Trading and treasury products
• o Advisory business and international syndications, including factoring
• o Payment services including remittances currency conversion services Highlights:
• ✓ Letters of guarantee and Letters of Credit for over €200mn in 2024 and 2025 YTD
• ✓ c€300m of approved lending for international syndications since partnership commenced
• ✓ c€650m volume of bilateral exchange of EURO payments in in 2024 and 2025 YTD

Partnership further reinforced through UniCredit's increase in Alpha Bank shareholding to c. 20%. Both parties continue to mutually benefits from compelling commercial partnership, joining forces in Romania by combining respective subsidiaries in the country and knowledge exchange

Structural advantages leading to earnings growth

Alpha Bank's structural advantages	Outlook for 2027
Positioned to absorb rate cuts and grow NII…	• Dynamic management of interest rate sensitivity • Significant potential from structural growth dynamics • Further upside from balance sheet and franchise positioning
…strong loan growth in corporate lending…	• Pace of growth retained above the €2bn mark • Significant expansion in Large Corporates and SMEs • Strong demand dynamics while lower rates reduce repayments	Accelerating earnings growth and capital
…and accelerating momentum in fee generation capabilities…	• Significant investment in corporate solutions bearing fruit • Accelerate growth in transaction banking and IB • Increasing growth and penetration in Wealth management	generation as rates stabilize +5% EPS growth 2025
…all further supported by UniCredit partnership	• Positioning franchise as bank of choice for cross-border activity • Unify commercial framework to mutually benefit both groups	+12% EPS CAGR 2026-2027

EPS expansion to continue across 2025-2027

1| Earnings per share diluted calculated after deduction of AT1 coupon payments based on normalized profit after tax; 2| Assuming 43% payout of which 75% in buyback for 2024 and 50% payout of which 75% in buyback for 2025 at a share price of €3.30; 3| Assuming 43% payout of which 75% in buyback for 2024 and 50% payout of which 75% in buyback for 2025, 2026 and 2027 at a share price of €3.30; 4| Company-compiled consensus

Significant potential to create and return value to shareholders

Alpha Bank

Business Update	3
Financial Performance	10
Macroeconomic Update	19
P&L	21
Balance Sheet	32
Asset Quality	44
Capital	50
Segmental Information	56
Digital	62
ESG	64

Business Update

Macroeconomic Update

PL

Balance Sheet

Asset Quality

Capital

Segmental Information

Digital

ESG

10

Pages

Group Profit & Loss Summary

Profit & Loss (€ mn)	H1 2024	H1 2025	Δ %	Q1 2025	Q2 2025	Δ %
Net Interest Income	833	795	(5%)	395	399	1%
Net fee and commission Income	197	229	16%	108	122	13%
Trading & Other Income	67	86	28%	56	30	(46%)
Operating Income	1,097	1,110	1%	559	551	(1%)
Total Operating Expenses	(417)	(418)	0%	(204)	(214)	5%
Pre Provision Income	680	692	2%	355	337	(5%)
Impairment Losses	(120)	(91)	(24%)	(52)	(40)	(23%)
Profit/ (Loss) before income tax	552	605	10%	307	298	(3%)
Income Tax	(163)	(152)	(7%)	(72)	(80)	12%
Impact from NPA transactions, discontinued operations & other adjustments	(67)	64	…	(12)	76	…
Reported Profit/ (Loss) after income tax	322	517	60%	223	294	31%
Normalised Profit After Tax	437	460	5%	239	221	(8%)

Operating income:

• Net interest income +1% q/q offsetting deterioration from rates and US \$. Fee income +3% q/q underlying
• Quarterly decline reflecting normalization of trading

Operating expenses:

• Costs up just 1.3% y/y reflecting VSS and IT benefits
• Cost pressures expected to return to more normal levels

Impairment losses:

• Cost of Risk at 39bp in Q2
• Asset quality environment remains benign

Reported Profit After Tax:

• Bottom line +31% q/q on DTA recognition
• Normalised profit of €221mn in the quarter

Q2 25 Group Balance Sheet

• Growth fueled by corporates despite FX headwinds
• €1.5bn net credit expansion in H1, partially offset by FX headwinds and NPE portfolio reclassified to Held-For-Sale

Customer funds:

• Deposit inflows of €0.9bn in the quarter, mainly corporates
• AuM net sales at €0.5bn

Tangible Book Value:

• 2024 Dividend payment of €70mn impacting Q2 25
• Growth ex-payouts at 5% q/q

CET1 ratio:

• 40bp of organic capital generation
• €147mn of dividend accrual in the quarter

Net interest income and Fees

Interest Income / Interest Expense breakdown

Group, € mn

101 104 107 106 110 ^{481 475 472 439 419} (114) (107) (104) (86) (78) (84) (87) (91) (82) (70) 27 Q2 24 23 Q3 24 22 Q4 24 19 Q1 25 18 Q2 25 Deposits Funding & Other Loans NPE Bonds Loans PE 411 408 406 ^{395 399}

12 13 14 11 14 ^{38 40 34} 29 42 7 ^{22 22} 25 30 28 24 ^{29 38 30} 32 5 Q2 24 5 Q3 24 4 Q4 24 Q1 25 5 Q2 25 100 109 114 108 122 Business credit related Asset management Bancassurance Cards & Payments Other Fees Group, € mn o/w c. (€5mn) impact from government measures

Performing loans and Customer Funds

Performing loan book expansion

Group, € bn

Customer Funds evolution

Group, € bn

Asset quality

NPE ratio target for the year achieved

Cost of Risk at 39bp reflecting benign environment

Coverage at 57%

Quarterly evolution in Capital

Outlook update

mmary financials
	FY 24	2025 Guidance	2027 Outlook
Total Revenues (€ bn)	2.2	>2.2	>2.5
Cost-Income Ratio	38.6%	c. 39%	c. 37%
Cost of Risk (bps)	63	c. 50	c. 50
Reported ROTE	9.7%	c. 11%	c. 12%
Normalised ROTE excluding excess capital1	14.0%	c. 13.5%	c. 14.0%
Reported EPS (€) Normalised EPS2 (€)	0.26 0.35	c. 0.34 c. 0.36	>0.42 >0.42
Tangible Equity (€ bn)	7.0	c. 7.5	>8
FL CET1 Ratio	16.3%	>16.3%	>17%

Previously…. Updated

• NII: \$ and rate pressure • Fees & other better Guidance on costs reiterated Cost of Risk sustainably at c45bp ROTE c13% in 2027 EPS 2% higher • 0.37 in 2025 • 0.46 in 2027 (incl. acquisitions) Capital >15% in 2025 and >16% in

Revenues 2025 confirmed >2.2bn

18

2027 on account of acquisitions

Alpha Bank

Business Update	3
Financial Performance	10
Macroeconomic Update	19
P&L	21
Balance Sheet	32
Asset Quality	44
Capital	50
Segmental Information	56
Digital	62
ESG	64

Business Update

Financial Performance

PL

Balance Sheet

Asset Quality

Capital

Segmental Information

Digital

ESG

19

Pages

Solid growth dynamics, declining unemployment and persistent inflation

Unemployment rate in euro area countries

Selected indicators in H1 2025

	Year-to-Date
New Passenger Car Registrations (annual % change)	1.9% (Jan – June 25)
Inbound Traveller Flows (annual % change)	2.1% (Jan – May 25)
Real GDP growth (annual % change)	2.2% (Q1-25)
Economic Sentiment Indicator	107.2 (Jan – June 25)
PMI	53.3 (Jan – June 25)
Retail Trade (volume, nsa, annual % change)	4.2% (Jan – Apr 25)
Residential Prices (annual % change)	6.8% (Q1-25)
Production of Capital Goods (annual % change)	8.4% (Jan – May 25)

2,7 3,6 3,8 3,9 4,1 4,3 4,6 5,2 5,4 6,3 6,3 6,3 6,4 6,4 6,7 7,0 7,3 7,9 8,9 9,1 10,9 4,0 3,8 4,6 5,1 7,9 7,3 8,2 7,0 7,1 10,1 6,5 8,2 7,1 7,7 6,1 7,8 8,1 6,7 16,3 8,2 15,7 Malta Germany Netherlands Slovenia Cyprus Ireland Croatia Slovakia Austria Italy Belgium Euro area Portugal Lithuania Luxembourg Latvia France Estonia Greece Finland Spain 5m2025 5m2021

Headline inflation

Sources: ELSTAT, Eurostat, European Commission, Bank of Greece, S&P Global Economic Research calculations

Alpha Bank

Business Update
Financial Performance	10
Macroeconomic Update	19
P&L	21
Balance Sheet	32
Asset Quality	44
Capital	50
Segmental Information	56
Digital	62
ESG	64

Business Update

Financial Performance

Macroeconomic Update

Balance Sheet

Asset Quality

Capital

Segmental Information

Digital

ESG

21

Pages

Group Profit & Loss Summary

Profit & Loss (€ mn)	H1 2025	H1 2024	yoy % change	Q2 2025	Q1 2025	qoq % change
Net Interest Income	795	833	(5%)	399	395	1%
Net fee and commission Income Trading & Other Income	229 86	197 67	16% 28%	122 30	108 56	13% (46%)
Operating Income	1,110	1,097	1%	551	559	(1%)
Recurring Operating Expenses Extraordinary	(418) 0	(412) (5)	1% (100%)	(214) 0	(204) 0	5%
Total Operating Expenses	(418)	(417)	0%	(214)	(204)	5%
Core Pre Provision Income	638	640	0%	330	308	7%
Pre Provision Income	692	680	2%	337	355	(5%)
Impairment Losses	(91)	(120)	(24%)	(40)	(52)	(23%)
Profit/ (Loss) before income tax	605	552	10%	298	307	(3%)
Income Tax 1 Impact from NPA transactions,	(152)	(163)	(7%)	(80)	(72)	12%
discontinued operations & other adjustments	64	(67)	…	76	(12)	…
Reported Profit/ (Loss) after income tax	517	322	60%	294	223	31%
2 Normalised Profit After Tax	460	437	5%	221	239	(8%)

Reported Profit After Tax

Normalised Profit After Tax²

1| Q2 2025 includes €77mn impact from NPA transactions. 2| Normalised Profit After Tax of €221mn in Q2 2025, is Reported Profit /(Loss) After Tax of €294mn excluding (a) NPA transactions impact of €77mn, (b) €150mn of other adjustments primarily driven by DTA recognition and Post Model Adjustments to loans and tax charges related to the above.

Profit & Loss - Detailed

(€ mn)	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	qoq% change	yoy% change
Net Interest Income	411.1	408.2	405.7	395.3	399.3	1.0%	(2.9%)
Net fee and commission income	100.1	108.8	114.4	107.5	121.6	13.1%	21.4%
Income from financial operations	13.3	17.6	43.5	47.3	7.1	(85.0%)	(47.0%)
Other income	17.1	9.6	13.9	8.6	23.2	…	35.4%
Operating Income	541.7	544.2	577.5	558.7	551.2	(1.3%)	1.8%
Staff costs	(92.8)	(92.2)	(97.3)	(88.2)	(97.0)	10.0%	4.6%
General Administrative Expenses	(78.3)	(73.3)	(91.9)	(80.4)	(83.1)	3.5%	6.2%
Depreciation and amortization	(40.5)	(45.2)	(45.0)	(35.1)	(34.0)	(3.1%)	(16.0%)
Recurring Operating Expenses	(211.5)	(210.7)	(234.2)	(203.6)	(214.2)	5.2%	1.3%
Extraordinary costs	(1.3)	0.0	(4.7)	0.0	0.0	…
Total Operating expenses	(212.8)	(210.7)	(238.9)	(203.6)	(214.2)	5.2%	0.6%
Core Pre-Provision Income	316.9	315.8	299.8	307.8	330.0	7.2%	4.1%
Ιmpairment losses	(51.8)	(53.1)	(63.2)	(51.6)	(39.7)	(23.1%)	(23.3%)
Other items	(4.2)	3.0	(5.1)	4.0	0.7	(82.6%)	…
Impairments & Gains/(Losses) on financial instruments, fixed assets and equity investments	(3.1)	0.3	(7.2)	(1.7)	(1.2)	(33.1%)	(62.0%)
Provisions and transformation costs	(0.8)	0.9	1.6	(0.2)	(0.1)	(31.7%)	(82.2%)
Share of profit/(loss) of associates and joint ventures	(0.3)	1.9	0.4	5.9	2.0	(66.2%)	…
Profit/ (Loss) before income tax	272.9	283.4	270.3	307.4	298.0	(3.1%)	9.2%
Income Tax	(84.8)	(84.4)	(69.1)	(71.9)	(80.4)	11.8%	(5.3%)
Profit/ (Loss) after income tax from continuing operations	188.1	199.0	201.2	235.6	217.7	(7.6%)	15.7%
Impact from NPA transactions	(101.6)	(18.4)	(19.2)	(12.1)	(76.8)	…	(24.4%)
Profit/ (Loss) after income tax from discontinued operations	23.0	19.7	(5.2)	3.8	2.9	(22.4%)	(87.3%)
Other adjustments	0.8	(33.6)	(11.9)	(3.9)	149.9	…	…
Profit/ (Loss) after Income tax	110.3	166.7	164.9	223.3	293.7	31.5%	…
Net interest Margin (NIM)	2.24%	2.20%	2.21%	2.18%	2.18%

Main P&L items

Net Interest Income

Group, € mn

Recurring operating expenses

Group, € mn

Net fee and commission income

Group, € mn

Cost of Risk¹

€mn & bps over net loans

24

1| Includes underlying impairments and servicing fees

Net Interest Income driver headlines

Performing loan spreads³ Greece, % 3.11%

Deposit costs

Deposit beta¹ Greece, %

Term Deposit pass-through² EUR, %

1| Deposit beta refers to total cost of deposits in Greece versus 3M Euribor. 2| Time deposit pass through refers to the deposit rate offered to a client over the relevant reference rate at the time of offer. 3| Spreads contain MFR methodology modification impact calculation now uses long term curves to take into account the estimated average life of the products

Individuals Business

Loan and deposit spreads

Net loan balances & spreads

€ bn

0

100

200

Fees

Operating Expenses

Group, € mn	Q2 25	Q2 24	yoy %	Q2 25	Q1 25	qoq %
Staff costs	(97.0)	(92.8)	4.6%	(97.0)	(88.2)	10.0%
General Administrative expenses	(83.1)	(78.3)	6.2%	(83.1)	(80.4)	3.5%
Depreciation and amortisation	(34.0)	(40.5)	(16.0%)	(34.0)	(35.1)	(3.1%)
Recurring Operating Expenses	(214.2)	(211.5)	1.3%	(214.2)	(203.6)	5.2%
Extraordinary costs	0.0	(1.3)		0.0	0.0	…
Total Operating Expenses	(214.2)	(212.8)	0.6%	(214.2)	(203.6)	5.2%

Employees Branches

Greece 8,147	7,354	7,503	5,925	5,940	5,678	5,741	5,798	5,513	5,637	5,585

1| Includes corporate and private banking centers. 2| including sabbaticals

Reported to Normalised

Profit & Loss (€ mn)	Bridge between reported and normalised profit
Q2 2025	Published	Delta	Normalised
Net Interest Income	399	(3)	396
Net fee and commission Income	122	0	122
Trading income	7	3	10
Other income	23	0	23
Operating Income	551		551
Staff costs	(97)	0	(97)
General Administrative Expenses	(83)	0	(83)
Depreciation and amortization	(34)	0	(34)
Recurring Operating Expenses	(214)		(214)
Extraordinary	0	0	0
Total Operating Expenses	(214)		(214)
Core Pre Provision Income	330		327
Pre Provision Income	337		337
Impairment Losses	(40)	0	(40)
o/w Underlying	17	0	0
o/w servicing fees	11	0	0
o/w securitization expenses	12	0	0
Other impairments	(0)	0	(0)
Impairment losses of fixed assets and equity investments	(4)	0	(4)
Gains/(Losses) on disposal of fixed assets and equity investments	3	0	3
Provisions and transformation costs	(0)	(0)	(0)
Share of profit/(loss) of associates and joint ventures	2	0	2
Profit/ (Loss) before income tax	298		298
Income Tax	(80)	0	(80)
Profit/ (Loss) after income tax	218		218
Impact from NPA transactions	(77)	77	0
Profit/ (Loss) after income tax from discontinued operations	3	0	3
Other adjustments	150	(150)	0
Reported Profit/ (Loss) after income tax	294	(73)	221

Reported to Normalised

Bridge between Reported and Normalised Profit - Quarterly (€ mn)	Q2 2022	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Reported Profit/ (Loss) after income tax	115	70	59	111	191	195	121	212	110	167	165	223	294
Net Interest Income	0	0	0	0	0	0	0	0	0	0	(1)	(3)	(3)
Net fee and commission Income	0	0	0	0	0	0	0	0	0	0	0	0	0
Trading income	0	(69)	0	0	0	0	0	0	0	0	1	3	3
Other income	0	0	0	0	0	0	0	0	0	0	0	0	0
Staff costs	0	0	0	0	0	0	0	0	0	0	0	0	0
General Administrative Expenses	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation and amortization	0	0	0	0	0	0	0	(2)	0	0	(5)	0	0
Extraordinary	(3)	(1)	3	(0)	5	0	(5)	3	1	0	5	0	0
Impairment Losses	3	0	0	0	0	0	0	0	(0)	0	0	0	0
Other impairments	0	0	0	0	0	0	0	0	0	0	0	0	0
Impairment losses of fixed assets and equity investments	0	(0)	0	0	0	0	0	0	0	0	0	0	0
Gains/(Losses) on disposal of fixed assets and equity investments	0	0	0	0	0	0	0	0	0	0	0	0	0
Provisions and transformation costs	(0)	(0)	0	(0)	0	0	0	0	0	0	0	0	(0)
Share of profit/(loss) of associates and joint ventures	0	0	0	0	0	0	0	0	0	0	0	0	0
Income Tax	(0)	26	(3)	(0)	(1)	0	2	1	(1)	9	0	0	0
Impact from NPA transactions	167	77	36	23	(5)	(2)	109	5	102	18	19	12	77
Profit/ (Loss) after income tax from discontinued operations	(217)	(4)	(5)	0	0	0	12	0	2	1	0	0	0
Other adjustments	7	(6)	10	27	5	22	(22)	3	(1)	34	12	4	(150)
Normalised Profit After Tax	70	94	102	162	195	215	216	222	214	228	196	239	221

Alpha Bank

	Pages
Business Update	3
Financial Performance	10
Macroeconomic Update	19
P&L	21
Balance Sheet	32
Asset Quality	44
Capital	50
Segmental Information	56
Digital	62
ESG	64

Business Update

Financial Performance

Macroeconomic Update

PL

Asset Quality

Capital

Segmental Information

Digital

ESG

Q2 2025 Group Balance Sheet Summary

Balance Sheet (€ bn)	Jun 2025	Mar 2025	Jun 2024	q/q
Total Assets	73.5	73.1	73.5	0.3
Securities	17.2	17.3	16.5	0.0
Cash & Cash Balances	3.1	3.5	4.2	(0.4)
Net Loans	41.0	40.2	36.5	0.8
ECB balances	2.5	2.8	4.0	(0.3)
Deposits	51.3	50.4	48.2	0.9
Tangible Equity	7.5	7.2	6.7	0.3
CET1 ratio (Fully loaded)	15.7%	16.2%	14.8%	…
Total Capital ratio (Fully loaded)	21.2%	21.7%	19.0%	…
NPE ratio	3.5%	3.7%	4.6%	…
NPE Cash Coverage	57%	50%	47%	…

CET1 (Fully loaded)

Group, € bn

Balance sheet composition

Business Volumes

(€ mn )	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	% YoY
Group Gross Loans	37,236	38,318	40,479	40,786	41,687	12.0%
Mortgages	7,083	7,065	6,888	6,846	6,744	(4.8%)
Consumer Loans	1,253	1,255	1,212	1,197	1,217	(2.9%)
Credit Cards	1,003	976	994	943	942	(6.1%)
Small Business Loans	1,940	1,956	1,864	1,835	1,831	(5.6%)
Medium and Large Business Loans	25,262	26,385	28,746	29,170	30,226	19.6%
CLOs	695	680	776	795	727	4.7%
of which:
Domestic	35,859	36,785	38,879	39,134	39,834	11.1%
Mortgages	6,496	6,463	6,275	6,218	6,062	(6.7%)
Consumer Loans	1,192	1,190	1,148	1,133	1,149	(3.7%)
Credit Cards	998	970	988	937	936	(6.2%)
Small Business Loans	1,923	1,939	1,848	1,818	1,813	(5.7%)
Medium and Large Business Loans	24,555	25,543	27,845	28,233	29,148	18.7%
of which: Shipping Loans	2,964	3,530	3,772	3,812	3,682	24.2%
CLOs	695	680	776	795	727	4.7%
International	1,377	1,532	1,600	1,652	1,853	34 6 %
1 Accumulated Provisions	(742)	(770 )	(677 )	( 626 )	(715)	(3 7%)
Group Net Loans	36,519	37,573	39,825	40,183	40,997	12.3 %
Customer Assets	65,781	67,944	69,487	69,661	71,572	8.8%
of which:
Group Deposits	48,189	49,745	51,032	50,363	51,306	6.5%
Sight & Savings	35,048	35,856	36,138	36,051	37,604	7.3%
Time deposits	13,141	13,889	14,894	14,311	13,702	4.3%
Domestic	44,793	46,234	47,420	46,737	47,450	5.9%
Sight & Savings	33,546	34,365	34,549	34,483	35,866	6.9%
Time deposits	11,248	11,869	12,871	12,254	11,584	3.0%
International	3,396	3,510	3,611	3,626	3,856	1 3 5 %
Mutual Funds	6,543	6,757	7,276	7,567	8,281	26.6%
Fixed Income	3,194	3,354	3,163	2,960	2,857	(10.6%)
Equities	6,963	7,149	7,040	7,752	8,057	15.7%
Managed Accounts	892	940	976	1,019	1,072	20.2%
Total Private Banking Balances (incl. Deposits)	8,268	8,466	8,745	7 ,853	8,068	(2.4 %)

Net Credit Expansion trends

Net credit expansion

Individuals Businesses

Greece, € bn

36

syndication

Net credit expansion breakdown

Performing loans

Greece, € bn

		Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25
	Beginning of period	36.2	36.5	35.9	36.8	38.9	39.1
	Disbursements	1.9	2.1	3.0	4.0	2.5	2.8
	Repayments	(1.9)	(2.0)	(1.9)	(2.1)	(1.9)	(1.9)
	Net Flows to/from NPE	(0.0)	0.0	(0.0)	(0.1)	(0.1)	(0.1)
	Other Movements	0.3	(0.7)	(0.2)	0.2	(0.2)	(0.0)
	End of period	36.5	35.9	36.8	38.9	39.1	39.8
	Net Credit Expansion	0.0	0.0	1.2	2.0	0.6	0.9

New disbursements – per category

Greece, € mn

	Q2 23	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25
Individuals	112	123	169	187	162	144	180	145	217
Business	1,887	1,729	2,669	1,713	1,916	2,892	3,860	2,360	2,555
Total	1,999	1,852	2,838	1,900	2,078	3,035	4,040	2,505	2,772

Loan portfolio breakdown

Securities portfolio

Securities portfolio

Group, Book value, Mar-25, € bn

• The "Other/ECB eligible" bonds of €8.2bn is broken down to the following categories:
  • €4.8bn other sovereign bonds
  • €0.9bn bonds issued by supranationals
  • €1.2bn bonds investment grade bonds by other issuers & CLOs
  • €1.3bn bonds issued by Greek corporates

Customer Funds trends

Customer Funds evolution

Group, € bn

Deposits flow per quarter

Alpha Bank deposits evolution in Greece

Δ Core Δ Time

Alpha Bank deposits evolution in Greece

Greece, € bn

44.8 46.2 47.4 46.7 47.4 1.2 0.2 0.5 0.7 0.8 (0.1) (0.6) (0.1) Δ Business Δ Individuals 36% 64% Individuals

Deposits breakdown – June 2025

Deposits breakdown – June 2025

ECB Balances and Liquidity metrics

42

1| Commercial Surplus defined as the difference between Deposits and Net Loans

Wealth management

Notes: Investment AUMs also includes Equities & Bonds for non Private Banking customers. Private Banking Investment AUMs also includes AB Mutual Funds. Private Banking Investment AUMs does not include Alpha Life Mutual Funds. Private Banking figures reflect internal client segmentation to other Bank segments amounting to 1bn.

Alpha Bank

Business Update Financial Performance
Financial Performance Macroeconomic Update
Macroeconomic Update PL	19
P&L Balance Sheet	21
Balance Sheet	32
Asset Quality	44
Capital Capital	50
Segmental Information Segmental Information Digital	56
Digital ESG	62

Business Update

Financial Performance

44

Pages

NPE flows and Cost of Risk trends

Cost of Risk

bps (over net loans)

Gross organic NPE formation in Greece per segment

Gross formation (Organic) - Wholesale Greece, € mn (461) (192) 80 (254)(155) 170 (10) 18 (4) (29) (11) (5) 2018201920202021202220232024 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25

Gross formation (Organic) - Retail

Note: Gross formation including curings, repayments, liquidations and debt forgiveness.

Auctions and repossession activity evolution

Auctioned properties (Conducted) 2Q2025

€ mn

REO portfolio evolution (entries/exits) – Greece (excl. Own Used)

• The auction process has shown a slight downward trend. During 2Q2025, the volume of conducted auctions remained elevated, which is particularly notable given the historically lower levels of auction activity typically observed in the second quarter. A substantial number of auctions were unsuccessful, primarily due to the lack of bidders.
• During 1H 2025, the Bank continued with its disinvestment strategy through the completion of €36mn REO sales in Greece (including €28mn Skyline perimeter) and €5mn in Cyprus. Sales in Greece included both commercial as well as residential assets. In parallel with its disinvestment efforts, the Bank also initiated a selective reinvestment strategy, focusing on commercial properties. During the first half of 2025, it acquired approximately €82 million in investment properties.

Detailed overview of asset quality by portfolio - Greece

(€ bn)			Wholesale		SBL		Mortgages		Consumer		Total
Gross loans		29.9			1.8		6.1		2.1		39.8
(-) Accumulated Provisions		(0.2)		(0.2)		(0.3)		(0.1)		(0.8)
Net loans			29.7		1.6		5.8		1.9		39.1
NPLs			0.1		0.2		0.4		0.1		0.9
NPL ratio			0.3%		10.8%		6.8%		7.0%		2.1%
NPEs			0.2		0.3		0.7		0.2		1.4
NPE ratio			0.8%		14.0%		10.8%		10.4%		3.4%
NPL collateral			0.1		0.1	0.4			0.0		0.6
NPE collateral			0.2	0.2			0.6		0.1		1.0
Coverage ratio	Collateral Cash	231% 60% 171% NPL	152% 77% 75% NPE	163% 66% 96% NPL	143% 69% 75% NPE	155% 91% 64% NPL	133% 92% 40% NPE	127% 100% NPL	96% 27% 28% 67% NPE	161% 71% 90% NPL	132% 75% 57% NPE
NPLs			0.1		0.2		0.4		0.1		0.9
(+) Forborne NPLs < 90 dpds			0.1		0.1		0.2		0.1		0.4
(+) Unlikely to pay			0.0		0.0		0.0		0.0		0.1
NPEs			0.2		0.3		0.7		0.2		1.4
Forborne NPLs >90dpd			0.0		0.0		0.1		0.1		0.2
Forborne NPLs <90dpd			0.1		0.1		0.2		0.1		0.4
Performing forborne			0.1		0.2		0.8		0.1		1.1
Total forborne			0.2		0.3		1.1		0.2		1.7

Detailed overview of asset quality by portfolio - Group

(€ bn)	Wholesale	SBL	Mortgages	Consumer	Total
Gross loans	31.0	1.8	6.7	2.2	41.7
(-) Accumulated Provisions	(0.2)	(0.2)	(0.3)	(0.1)	(0.8)
Net loans	30.7	1.6	6.4	2.0	40.8
NPLs	0.1	0.2	0.5	0.1	0.9
NPL ratio	0.4%	10.8%	7.0%	6.9%	2.3%
NPEs	0.3	0.3	0.7	0.2	1.5
NPE ratio	0.9%	13.9%	10.7%	10.2%	3.5%
NPL collateral	0.1	0.1	0.4	0.0	0.7
NPE collateral	0.2	0.2	0.7	0.1	1.1
Collateral Coverage ratio Cash	231% 155% 67% 78% 164% 77% NPL NPE	162% 143% 66% 69% 96% 74% NPL NPE	151% 131% 88% 90% 63% 41% NPL NPE	127% 96% 27% 28% 100% 68% NPL NPE	160% 132% 71% 75% 89% 57% NPL NPE
NPLs	0.1	0.2	0.5	0.1	0.9
(+) Forborne NPLs < 90 dpds	0.1	0.1	0.2	0.1	0.4
(+) Unlikely to pay	0.0	0.0	0.0	0.0	0.1
NPEs	0.3	0.3	0.7	0.2	1.5
Forborne NPLs >90dpd	0.0	0.0	0.1	0.1	0.3
Forborne NPLs <90dpd	0.1	0.1	0.2	0.1	0.4
Performing forborne	0.2	0.2	0.8	0.1	1.2
Total forborne	0.3	0.3	1.2	0.2	2.0

Alpha Bank

Business Update Business Update Financial Performance
Financial Performance
Macroeconomic Update Macroeconomic Update PL	19
P&L	21
Balance Sheet Balance Sheet Asset Quality	32
Asset Quality	44
Capital	50
Segmental Information Segmental Information Digital	56
Digital ESG	62
ESG	64

50

Pages

Quarterly evolution in Capital

Actuals and regulatory requirements

Regulatory Capital composition

10.3% Tangible book value / Tangible Assets

Equity to regulatory capital bridge

€ mn

Group RWAs and Regulatory Capital

Group Risk Weighted Assets evolution € bn

Credit Risk Weights per portfolio

%

Further progress towards meeting MREL Requirements

• No subordinated MREL requirement
• Expect Alpha Bank to continue to be a regular issuer in the debt capital markets
• MREL ratio as of 30.06.2025 stands at 28.6%, well above the final MREL binding target of 30.06.2025 (27.28%).

Outstanding Debt Instruments

Issuance date	Tenor	Size (€mn)	Next Call	Maturity	Coupon
AT1
08/02/2023	PerpNC5.5	400	08/02/2028	Perpetual	11.875%
10/09/2024	PerNC5.75	300	10/06/2030	Perpetual	7.5%
Tier II
23/07/2025	10.25NC5.25	500	23/07/2031	23/07/2036	4.308%
13/06/2024	10.25NC5.25	500	13/09/2029	13/09/2034	6.00%
Senior preferred
23/09/2021	6.5NC5.5	500	23/03/2027	23/03/2028	2.50%
16/12/2022	4.5NC3.5	450	16/06/2026	16/06/2027	7.50%
13/02/2023	6NC5	70	13/02/2028	13/02/2029	6.75%
27/06/2023	6NC5	500	27/06/2028	27/06/2029	6.875%
22/11/2023	6NC5	50	22/11/2028	22/11/2029	6.50%
12/02/2024	6.25NC5.25	400	12/05/2029	12/05/2030	5.00%

1| The Combined Buffer Requirement (CBR) applies on top of MREL target. 2| Including Η1 2025 profits. 3| MREL requirements applicable only to the Bank on a consolidated basis. 4| Pro-forma for remaining RWA relief from NPA transactions including mainly Skyline and Athena.

Alpha Bank

Business Update Business Update Financial Performance
Financial Performance Macroeconomic Update
Macroeconomic Update PL	19
P&L	21
Balance Sheet Balance Sheet Asset Quality	32
Asset Quality Capital	44
Capital	50
Segmental Information Digital	56
Digital ESG	62
ESG	64

Pages

Key figures				REVENUES / PROFITABILITY	VOLUMES
(in €mm)	H1 25	H1 24	∆difference, %	(€44mn)	€0.9bn
Net loans	8,906	9,198	(3%)	Revenues y/y	Deposits y/y
Deposits	34,585	33,642	3%	(€36mn)	+0.5mn (0.3bn)
Total revenues	360	404	(11%)	Profits3 y/y	Net Loans y/y
Recurring Operating expenses	(193)	(200)	(3%)
Normalised Profit	107	144	(25%)	COST / INCOME	RoCET11
Allocated CET1 @13%	774	883	(12%)
Cost / Income ratio	54%	49%	9%		(7p.p.) 33%
RoCET1 ratio1	26%	33%	(20%)	49%	26%
Contribution to Group Revenues, Contribution to Group Revenues, 'Q1 24 32% 'H1 25		23%	Contribution to Group recurring 2 profits, 'H1 25	54%
				H1 24 H1 25	H1 24 H1 25

Wholesale

Key figures				REVENUES / PROFITABILITY	VOLUMES
(in €mm)	H1 25	H1 24	∆difference, %	+€26mn	€1.3bn
Net loans	28,844	24,280	19%	Revenues y/y	Deposits y/y
Deposits	10,235	8,900	15%	+€20mn	€4.6bn
Total revenues	470	444	6%	Profits3 y/y	Net Loans y/y
Recurring Operating expenses	(89)	(85)	5%
Normalised Profit	255	235	9%	COST / INCOME	RoCET11
Allocated CET1 @13%	2,169	1,942	12%
Cost / Income ratio	19%	19%	(1%)		0.3p.p. 25% 24%
RoCET1 ratio1	25%	24%	1%	19% 19%
Contribution to Group Revenues, Contribution to Group Revenues, 'Q1 24 42% 'H1 25		55%	Contribution to Group recurring 2 profits, 'H1 25	H1 24 H1 25	H1 24 H1 25

Key figures				REVENUES / PROFITABILITY	VOLUMES
(in €mm)	H1 25	H1 24	∆difference, %	+€21mn	€1.7bn
Assets under Management	20,267	17,591	15%	Revenues y/y	Mutual Funds y/y
Total revenues	85	64	32%	+€10mn	€0.9bn
Recurring Operating expenses	(33)	(26)	27%	Profits3 y/y	Other AUMs y/y
Normalised Profit	39	29	34%
Allocated CET1 @13%	41	33	26%	COST / INCOME	RoCET11
Cost / Income ratio	39%	40%	(4%)		+39p.p. 204%
RoCET1 ratio1	204%	166%	23%	40% 39%	166%
Contribution to Contribution to Group Revenues, 'Q1 24 8% Group Revenues, 'H1 25		8%	Contribution to Group recurring 2 profits, 'H1 25	H1 24 H1 25	H1 24 H1 25

International

(in €mm)	H1 25	H1 24	∆difference, %
Net loans	1,714	1,296	32%
Deposits	3,856	3,396	14%
Total revenues	78	78	0%
Recurring Operating expenses	(43)	(37)	15%
Normalised Profit	44	66	(33%)
Allocated CET1 @13%	271	482	(44%)
Cost / Income ratio	55%	48%	14%
RoCET1 ratio1	34%	28%	20%
Contribution to Contribution to Group Revenues, Group recurring 7% 10% 2 'H1 25 profits, 'H1 25

NPAs and Corporate Center

Non Performing Assets (NPAs)			Corporate Center
(in €mm)	H1 25	H1 24	∆difference, %
Net loans	1,006	1,289	(22%)
Assets	2,107	3,271	(36%)
Total revenues	18	25	(30%)
Recurring Operating expenses	(29)	(32)	(11%)	Recurring Operating expenses
Normalised Profit	(39)	(58)	(33%)
Allocated CET1 @13%	254	324	(22%)
RoCET1 ratio1	(43%)	(44%)	2%	RoCET1 ratio1
Contribution to Group Revenues, 2% 'H1 25		(8%)	Contribution to Group recurring 2 profits, 'H1 25	Contribution to Group Revenues, 9% 'H1 25		12%

(in €mm) H1 25 H1 24 ∆difference, % Assets 20,124 19,254 5% TBV 1,312 1,568 (16%) Total revenues 99 81 22% Recurring Operating expenses (31) (32) (3%) Normalised Profit 56 21 ... Allocated CET1 @13% 470 547 (14%) RoCET1 ratio¹ 23% 8% ... Corporate Center Contribution to Group Revenues, 'H1 25 Contribution to Group recurring ² profits, 'H1 25 ²

Alpha Bank

Business Update
Financial Performance
Macroeconomic Update	19
P&L	21
Balance Sheet	32
Asset Quality	44
Capital	50
Segmental Information	56
Digital	62
ESG	64

Business Update

Financial Performance

Macroeconomic Update

PL

Balance Sheet

Asset Quality

Capital

Segmental Information

ESG

62

Pages

Continuous improvement in key digital metrics

H1 '25 Key Achievements Investor Day KPIs

• +31% Increase in Mobile Transactions YoY
• +27% Digital Sales Items in 6m YoY (30% of total sales)
• 3 out of 4 Consumer Loans digitally
• 39% of Credit Cards issued digitally in like for like category
• Consumer Loan with fully digital underwriting up to 15th. € launched in myAlpha Web & Mobile

% Digital Sales | H1 '25 Production

1| Referred to end of period snapshot; 2| Subscribers (Individuals & Businesses) with 12month login; 3| Txs through web/mobile/ATM/APS over total; 4| Digital 3month active over total "addressable"; 5| Referred to H1/2025

Alpha Bank

ESG	64
Digital	62
Segmental Information	56
Capital	50
Asset Quality	44
Balance Sheet	32
P&L	21
Macroeconomic Update	19
Financial Performance
Business Update

Business Update

Financial Performance

Macroeconomic Update

PL

Balance Sheet

Asset Quality

Capital

Segmental Information

Digital

64

Pages

Accelerating our journey to Net Zero

Our strategy for a resilient, net-zero economy by 2050

Financed emissions targets set on 4 sectors in Nov 2024 (1/2)

• The targets have been set taking into account clients' decarbonization plans
• While reducing transition risk, these targets will not materially constrain the Bank's ability to serve these sectors
• The Bank is monitoring these sectors, and how its clients are progressing towards meeting their targets
• The Bank has identified a set of contingency actions, if required
• These sectors represent ~20% 1,2 of exposure and ~64% ² of financed emissions (excluding Shipping) of NZBA sectors

.

Financed emissions targets set on 4 sectors in Nov 2024 (2/2)

Our Sustainable Finance Framework as an enabler in our Sustainability Strategy

Best-practice Climate & Environmental Risk Management embedded in credit decisions and loan pricing

ESG Assessment of all Clients Transaction Assessment

• Assessment via interbank ESG questionnaire since 2023
• Sector-based questionnaires, including climate data (Emissions & Targets)
• Clients classified as High-Medium-Low risk

• Requests corrective action plan in case of high-risk outcome

• Assesses Environmental and Social impact of specific economic activity to be financed

• Assessment criteria per our Sustainable Finance Framework, integrating EU Taxonomy if applicable
• Corrective actions requested if negative impact is identified

Loan Pricing

• Loan Pricing Framework takes into consideration the overall ESG assessment in the pricing of facilities
• Sustainable investments benefit from selective discounts when appropriate
• High risk clients' pricing incorporates additional risk premium component to incentivize improvement in sustainability

Our Green Bond Framework outlines the commitment to supporting sustainable development through green financing

• A clear and transparent roadmap for how the Bank intends to channel capital

into projects that advance environmental goals.

• Developed in alignment with the International Capital Markets Association

("ICMA") Green Bond Principles, 2021

• Builds on Alpha Bank Sustainable Finance Framework ("SFF")
• The Framework has received a positive external verification by ISS-Corporate.

USE OF PROCEEDS

• 2 • Eligible Green Loan Categories: Green Loans, Recovery and Resilience Facility (RRF) financing, and General Purpose or Company Business Mix Loans (pure players).
• Eligible Green Loan Themes: Energy Efficiency, Renewable Energy, Sustainable Transport, Resource Efficiency and Pollution Control, and Green Buildings.

Sustainability highlights: Delivering tangible results¹

Support an environmentally sustainable Economy

€ 2.9 billion for Sustainable Disbursements since 2024

€ 558 million for Renewable Energy Projects since 2024

Zero financing to new investments in thermal coal mining, upstream oil exploration or coal-fired electricity generation

100% of electricity from renewable sources for all our buildings & Branches

58% of total energy consumed came from renewable sources

10.7% reduction of Scope 2 location- based emissions of the Group (vs 2023)

Foster healthy economies & Societal progress

86% of the Group's branches are accessible

51% Increase Youth employment at Group level

42% Women in managerial posts at Group level

80% Employees in Wholesale Banking Business trained for ESG

"IQonomy" Educational program that instills fundamental financial knowledge and skills in students, women, and individuals aged 55+

Together for Better Health Offered > 92k medical supplies across Greece, particularly for the most vulnerable citizens

• SDG 3: Good health & Well being
• SDG 10: Reduced inequalities
• SDG 17: Partnerships for the Goals

Ensure robust & transparent Governance

33% Women at Board of Directors

58% Independent Non-Executive Board Members

All Committee Chairs are Independent

Sustainability integration Into Remuneration

Training & development of Board Members

Recognition of our commitment to Sustainability

Glossary (1/4)

Reference number	Terms	Definitions	Relevance of the metric	Abbreviation
1	Accumulated Provisions and FV adjustments	Sum of Provision for impairment losses for loans and advances to customers, the Provision for impairment losses for the total amount of off balance sheet items exposed to credit risk as disclosed in the Consolidated Financial Statements of the reported period,and the Fair Value Adjustments (10).	Standard banking terminology	LLR
2	Core Banking Income	Sum of Net interest income and Net fee and commission income as derived from the Consolidated Financial Statements of the reported period.	Profitability metric
3	Core deposits	Sum of "Current accounts", "Savings accounts" and "Cheques payable", as derived from the Consolidated Financial Statements of the reported period, taking into account the impact from any potential restatement.	Standard banking terminology	Core depos
4	Core Operating Income	Operating Income (35) less Income from financial operations (18) less management adjustments on operating income for the corresponding period.	Profitability metric
5	Core Pre-Provision Income	Core Operating Income (4) for the period less Recurring Operating Expenses (45) for the period.	Profitability metric	Core PPI
6	Cost of Risk	Impairment losses (14) for the period divided by the average Net Loans of the relevant period. Average balances is defined as the arithmetic average of balance at the end of the period and at the end of the previous period.	Asset quality metric	(Underlying) CoR
7	Cost/Assets	Recurring Operating Expenses (45) for the period (annualised) divided by Total Assets (18).	Efficiency metric
8	Deposits	The figure equals Due to customers as derived from the Consolidated Balance Sheet of the reported period.	Standard banking terminology
9	Extraordinary costs	Management adjustments on operating expenses, that do not relate to other PnL items.
10	Fair Value adjustments	The item corresponds to the accumulated Fair Value adjustments for non-performing exposures measured at Fair Value Through P&L (FVTPL).	Standard banking terminology	FV adj.
11	Fully-Loaded Common Equity Tier 1 ratio	Common Equity Tier 1 regulatory capital as defined by Regulation No 2024/1623 (Full implementation of Basel 3) , divided by total Risk Weighted Assets	Regulatory metric of capital strength	FL CET 1 ratio
12	Gross Loans	The item corresponds to Loans and advances to customers, as reported in the Consolidated Balance Sheet of the reported period, gross of the Accumulated Provisions and FV adjustments (1) excluding the accumulated provision for impairment losses on off balance sheet items, as disclosed in the Consolidated Financial Statements of the reported period.	Standard banking terminology
13	Impact from NPA transactions	Management adjustments to income and expense items as a result of NPE/NPA exposures transactions	Asset quality metric
14	Impairment losses	Impairment losses on loans (16) excluding impairment losses on transactions (17).	Asset quality metric
15	Impairment losses of which Underlying	Impairment losses (14) excluding Loans servicing fees as disclosed in the Consolidated Financial Statements of the reported period.	Asset quality metric
16	Impairment losses on loans	Impairment losses and provisions to cover credit risk on Loans and advances to customers and related expenses as derived from the Consolidated Financial Statements of the reported period, taking into account the impact from any potential restatement, less management adjustments on impairment losses on loans for the corresponding period.Management adjustments on impairment losses on loans include events that do not occur with a certain frequency, and events that are directly affected by the current market conditions and/or present significant variation between the reporting periods.	Standard banking terminology	LLP
17	Impairment losses on transactions	Represent the impact of incorporating sale scenario in the estimation of expected credit losses.	Asset quality metric

Glossary (2/4)

Reference number	Terms	Definitions	Relevance of the metric	Abbreviation
18	Impairments & Gains/(Losses) on financial instruments, fixed assets and equity investments	Sum of Impairment losses of fixed assets and equity investments ,Gains/(Losses) on disposal of fixed assets and equity investments and Impairment losses, provisions to cover credit risk on other financial instruments as derived from the Consolidated Income Statement of the reported period, less management adjustments on Impairments & Gains/(Losses) on fixed assets and equity investments. Management adjustments on Impairments & Gains/(Losses) on fixed assets and equity investments include events that do not occur with a certain frequency, and events that are directly affected by the current market conditions and/or present significant variation between the reporting periods.	Standard banking terminology
19	"Income from financial operations" or "Trading Income"	Sum of Gains less losses on derecognition of financial assets measured at amortised cost and Gains less losses on financial transactions, as derived from the Consolidated Income Statement of the reported period ,adding the NII effect resulting from the hedge of the net investment in RON through foreign exchange swap derivatives, amounting to €1.5m in Q4 2024 and €2.5m in Q1 2025, and less management adjustments on trading income for the corresponding period. Management adjustments on trading income include events that do not occur with a certain frequency, and events that are directly affected by the current market conditions and/or present significant variation between the reporting periods.	Standard banking terminology
20	Income tax	The figure equals Income tax as disclosed in the Consolidated Financial Statements of the reported period, less management adjustments on income tax for the corresponding period. Management adjustments on income tax include events that do not occur with a certain frequency, and events that are directly affected by the current market conditions and/or present significant variation between the reporting periods.	Standard banking terminology
21	Leverage Ratio	This metric is calculated as Tier 1 divided by Total Assets (54).	Standard banking terminology
22	Loan to Deposit ratio	Net Loans (24) divided by Deposits (8) at the end of the reported period.	Liquidity metric	LDR or L/D ratio
23	Net Interest Income	Net interest income as derived from the Consolidated Financial Statements of the reported period, excluding the NII effect resulting from the hedge of the net investment in RON through foreign exchange swap derivatives, amounting to €1.5m in Q4 2024 and €2.5m in Q1 2025.	Profitability metric	NII
24	Net Interest Margin	Net interest income for the period (annualised) divided by the average Total Assets (55) of the relevant period. Average balance is defined as the arithmetic average of balance at the end of the period and at the end of the previous relevant period.	Profitability metric	NIM
25	Net Loans	Loans and advances to customers as derived from the Consolidated Balance Sheet of the reported period.	Standard banking terminology
26	Non Performing Exposure Coverage	Accumulated Provisions and FV adjustments (1) plus CET 1 deductions used to cover calendar provisioning shortfall divided by NPEs (29) at the end of the reference period.	Asset quality metric	NPE (cash) coverage
27		Non Performing Exposure ratio NPEs (29) divided by Gross Loans (12) at the end of the reference period.	Asset quality metric	NPE ratio
28	Non Performing Exposure Total Coverage	Accumulated Provisions and FV adjustments (1) plus the value of the NPE collateral, plus CET 1 deductions used to cover calendar provisioning shortfall divided by NPEs (29) at the end of the reported period.	Asset quality metric	NPE Total coverage
29	Non Performing Exposures	Non-performing exposures (29) are defined according to EBA ITS on forbearance and Non Performing Exposures as exposures that satisfy either or both of the following criteria: a) material exposures which are more than 90 days past-due b)The debtor is assessed as unlikely to pay its credit obligations in full without realisation of collateral, regardless of the existence of any past-due amount or of the number of days past due.	Asset quality metric	NPEs
30	Non Performing Exposures Collateral Coverage	Value of the NPE collateral divided by NPEs (29) at the end of the reference period.	Asset quality metric	NPE collateral Coverage
31	Non Performing Loan Collateral Coverage	Value of collateral received for Non Performing Loans (29) divided by NPLs (35) at the end of the reference period.	Asset quality metric	NPL collateral Coverage
32	Non Performing Loan Coverage	Accumulated Provisions and FV adjustments (1) plus CET 1 deductions used to cover calendar provisioning shortfall divided by NPLs (35) at the end of the reference period.	Asset quality metric	NPL (cash) Coverage
33	Non Performing Loan ratio	NPLs (35) divided by Gross Loans (12) at the end of the reference period.	Asset quality metric	NPL ratio

Glossary (3/4)

Reference number	Terms	Definitions	Relevance of the metric	Abbreviation
34	Non Performing Loan Total Coverage	Accumulated Provisions and FV adjustments (1) plus the value of the NPL collateral, plus CET 1 deductions used to cover calendar provisioning shortfall divided by NPLs (Non Performing Loans) at the end of the reference period.	Asset quality metric	NPL Total Coverage
35	Non Performing Loans	Non Performing Loans (35) are Gross loans (12) that are more than 90 days past-due.	Asset quality metric	NPLs
36	Normalised Net Profit after (income) tax	Normalised profits between financial year 2022 and 2021 are not comparable due to initiation of a new normalized profits procedure effective since 1.1.2022 which does not exclude specific accounts such as the trading gains account and is based on specific principles and criteria. Main Income and expense items that are excluded for purposes of the normalized profit calculation are listed below: 1. Transformation related: a. Transformation Costs and related Expenses b. Expenses and Gains/Losses due to Non-Core Assets' Divestiture c. Expenses/Gains/Losses as a result of NPE/NPA exposures transactions' 2. Other non-recurring related: a. Expenses/Losses due to non anticipated operational risk b. Expenses/Losses due to non anticipated legal disputes c. Expenses/Gains/Losses due to short-term effect of non-anticipated and extraordinary events with significant economic impact d. Non-recurring HR/Social Security related benefits/expenses e. Impairment expenses related to owned used [and inventory] real estate assets f. Initial (one off) impact from the adoption of new or amended IFRS g. Tax related one-off expenses and gains/losses 3. Income Taxes Applied on the Aforementioned Transactions.	Profitability metric	Normalised Net PAT
37	Operating Income	Sum of Net interest income, Net fee and commission income, Income from financial operations or Trading Income (19) and Other income, as derived from the Consolidated Income Statement of the reported period, taking into account the impact from any potential restatement.	Standard banking terminology
38	Other (operating) income	Sum of Dividend income, Other incomeand insurance revenue/(expenses) and financial income/(expenses) from insurance contracts as derived for the Consolidated Income Statements of the reported period, taking into account the impact from any potential restatement.	Standard banking terminology
39	Other adjustments	Include management adjustments for events that occur with a certain frequency, and events that are directly affected by the current market conditions and/or present significant variation between the reporting periods and are not reflected in other lines in Income Statement.
40	Other items	Sum of Impairment losses of fixed assets and equity investments, Gains/(Losses) on disposal of fixed assets and equity investments, Impairment losses, provisions to cover credit risk on other financial instruments, Provisions and transformation costs and Share of profit/(loss) of associates and joint ventures as derived from the Consolidated Financial Statements of the reported period, taking into account the impact from any potential restatement, less management adjustments on other items for the corresponding period. Management adjustments on other items include events that do not occur with a certain frequency, and events that are directly affected by the current market conditions and/or present significant variation between the reporting periods.	Standard banking terminology
41	PPI/Average Assets	Pre-Provision Income for the period (42) (annualised) divided by Average Total Assets (55) of the relevant period. Average balance is defined as the arithmetic average of balance at the end of the period and at the end of the previous relevant period.	Profitability metric
42	Pre-Provision Income	Operating Income (37) for the period less Total Operating Expenses (56) for the period.	Profitability metric	PPI

Glossary (4/4)

Reference number	Terms	Definitions	Relevance of the metric	Abbreviation
43		Profit/ (Loss) before income tax Operating Income (37) for the period less Total Operating Expenses (56) plus Impairment losses on loans (16), plus Other items (40)	Profitability metric
44	Profit/ (Loss) after income tax from continuing operations	Profit/ (Loss) before income tax (43) for the period less Income tax (20) for the period	Profitability metric
45	Profit/ (Loss) after income tax from discontinued operations	The figure equals Net profit/(loss) for the period after income tax, from Discontinued operations as disclosed in Consolidated Income Statement of the reported period, less management adjustments. Management adjustments on operating expenses include events that do not occur with a certain frequency, and events that are directly affected by the current market conditions and/or present significant variation between the reporting periods.	Profitability metric
46	Profit/ (Loss) attributable to shareholders	Profit/ (Loss) after income tax from continuing operations (44) for the period, plus Impact from NPA transactions (13), plus Profit/ (Loss) after income tax from discontinued operations (45), plus Other adjustments (39), plus Non-controlling interests as disclosed in Consolidated Income Statement of the reported period.	Profitability metric
47	Recurring Cost to Income ratio	Recurring Operating Expenses (48) for the period divided by Operating Income (37) for the period.	Efficiency metric	C/I ratio
48	Recurring Operating Expenses	Total Operating Expenses (56) less management adjustments on operating expenses. Management adjustments on operating expenses include events that do not occur with a certain frequency, and events that are directly affected by the current market conditions and/or present significant variation between the reporting periods.	Efficiency metric	Recurring OPEX
49	Return on Equity	Net profit/(loss) attributable to: Equity holders of the Bank (annualised), as disclosed in Consolidated Income Statement divided by the Average balance of Equity attributable to holders of the Company, as disclosed in the Consolidated Balance sheet at the reported date, taking into account the impact from any potential restatement. Average balance is defined as the arithmetic average of the balance at the end of the period and at the end of the previous relevant period.	Profitability metric	RoE
50	"Return on Tangible Book Value" or "Return on Tangible Equity"	Net profit/(loss) attributable to: Equity holders of the Bank (annualised), as disclosed in Consolidated Income Statement divided by the Average balance of Tangible Book Value (53). Average balance is defined as the arithmetic average of the balance at the end of the period and at the end of the previous relevant period.	Profitability metric	RoTBV or RoTE
51	RWA Density	Risk Weighted Assets divided by Total Assets (55) of the relevant period.	Standard banking terminology
52	Securities	Sum of Investment securities and Trading securities, as defined in the consolidated Balance Sheet of the reported period.	Standard banking terminology
53	Tangible Book Value or Tangible Equity	Total Equity excluding the sum of Goodwill and other intangible assets, Non-controlling interests and Additional Tier 1 capital & Hybrid securities. All terms disclosed in the Consolidated Balance sheet at the reported date, taking into account the impact from any potential restatement.	Standard banking terminology	TBV or TE
54		Tangible Book Value per share Tangible Book Value (53) divided by the outstanding number of shares.	Valuation metric	TBV/share
55	Total Assets	Total Assets (55) as derived from the Consolidated Balance Sheet of the reported period, taking into account the impact from any potential restatement.	Standard banking terminology	TA
56	Total Operating Expenses	Sum of Staff costs, Voluntary exit scheme program expenses, General administrative expenses, Depreciation and amortization, Other expenses as derived from the Consolidated Income Statement of the reported period taking into account the impact from any potential restatement.	Standard banking terminology	Total OPEX

Alpha Bank Contacts

Vasileios Kosmas

CFO

• +30 210 326 2291
• vgk-cfo-office@alpha.gr

Iason Kepaptsoglou

Director Investor Relations Division

+30 210 326 2271

iason.kepaptsoglou@alpha.gr

Manager Investor Relations Division Stella Traka +30 210 326 2274 stella.traka@alpha.gr

Senior Specialist Investor Relations Division Selini Milioni +30 210 326 2273

selini.milioni@alpha.gr

Investor Relations Division

40 Stadiou Street, 102 52, Athens

+30 210 326 2271 +30 210 326 2277

ir@alpha.gr

Internet : www.alpha.gr Reuters : ACBr.AT (shares) Bloomberg : ALPHA GA (shares)

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