Bper Banca

Interim / Quarterly Report • May 8, 2024

Teleborsa: distribution and commercial use strictly

1Q24 Consolidated Results

Gianni Franco Papa, CEO 8th May 2024

Disclaimer

This document has been prepared by "BPER Banca" solely for information purposes, and only in order to present its strategies and main financial figures.

The information contained in this document has not been audited.

No guarantee, express or implied, can be given as to the document's contents, nor should the completeness, correctness or accuracy of the information or opinions herein be relied upon.

BPER Banca, its advisors and its representatives decline all liability (for negligence or any other cause) for any loss occasioned by the use of this document or its contents

All forecasts contained herein have been prepared on the basis of specific assumptions which could prove wrong, in which case the actual data would differ from the figures given herein.

No part of this document may be regarded as forming the basis for any contract or agreement.

No part of the information contained herein may for any purpose be reproduced or published as a whole or in part, nor may such information be disseminated

The Manager responsible for preparing the Company's financial reports, Marco Bonfatti, declares, in accordance with art. 154-bis, para. 2, of the "Consolidated Financial Services Act" (Legislative Order No. 58/1998), that the accounting information contained in this document corresponds to documentary records, ledgers and accounting entries.

Marco Bonfatti

Manager responsible for preparing the Company's financial reports

BPER Bance Splay, Head Office in Via San Companis Register No. orgango - Company belonging to the BPER BANCA GROUP VAT, VAT No. oglogal - Since capital Eur 2,04,85,694,00 - ABC Cole 3,6 - Register of Banks of the Internance Find and of the National Garantee Find - Parat Company of the PER Barca S.p.A. Baring Group - Register of Groups No. 535.6 - Tel. +3.03.202033-e-mail:senvi.o.lienti@bperit - Certified email (PEC):bper@peo.puppope.it - bpe.it - istiuzional.bec.it

EXECUTIVE SUMMARY

BALANCE SHEET

PROFIT AND LOSS

LIQUIDITY AND CAPITAL ADEQUACY

GUIDANCE

ANNEXES

█EMARKET

Executive Summary

BPER:

. I he apid all of the priod on the prior not all callited to the include the effects of he CP set in in ind chiles por in in mind a provinsion in the pro in in on find on fi

EXECUTIVE SUMMARY

BALANCE SHEET

PROFIT AND LOSS

LIQUIDITY AND CAPITAL ADEQUACY

GUIDANCE

ANNEXES

Total Funding: Direct and Indirect Deposits

Balance Sheet

FOCUS ON INDIRECT DEPOSITS AND LIFE INSURANCE (€BN)

FOCUS ON DIRECT DEPOSITS (€BN)

BPER. 1. Indirect funding recalculated by including BPER shares in all quarters.

1. Figures from data management system. AuM is inclusive of ARCA captive inflows on BPER network.

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Net Customer Loans

BPERS

NET CUSTOMER LOANS: BREAKDOWN BY SECTOR1 (%)

NET CUSTOMER LOANS (€BN)

Asset Quality

LOAN BOOK BREAKDOWN: STOCK AND COVERAGE (€MLN; %)

	Mar 23	Dec 23	Mar 24	QIQ	YIY
Bad Loans
Gross	989	632	661	4.6%	-33.2%
Net	194	175	183	4.8%	-5.7%
Coverage	80.4%	72.4%	72.3%	-0.1 p.p.)	-8.1 p.p.
UTPs
Gross	1,872	1,354	1,463	8.1%	-21.9%
Net	875	715	739	3.3%	-15.5%
Coverage	53.3%	47.2%	49.5%	2.3 p.p	-3.8 p.p.
Past Due
Gross	161	212	213	0.6%	31.9%
Net	112	154	149	3.2%	33.0%
Coverage	30.6%	27.3%	30.0%	2.7 p.p.	-0.6 p.p.
Total NPEs
Gross	3,022	2,197	2,336	6.3%	-22.7%
Net	1,181	1,043	1,071	2.6%	-9.3%
Coverage	60.9%	52.5%	54.2%	1.7 p.p.	-6.8 p.p.
Performing loans
Gross	88,884	87,834	87,272	-0.6%	-1.8%
Net	88,220	87,181	86,638	-0.6%	-1.8%
Coverage	0.75%	0.74%	0.73%	0.0 p.p.	0.0 p.p.
o/w Net Stage 2 Loans	9,795	8,754	8,771	0.2%	-10.5%
Coverage	4.45%	5.05%	5.02%	o.o p.p.	0.6 p.p.

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Balance Sheet

STAGE CLASSIFICATION OF PERFORMING LOANS OVER TIME (€BN)

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Financial Assets Portfolio

FINANCIAL ASSETS BREAKDOWN® (€MLN)

€/mln	FVTPL	FVOCI	AC	Total Mar 24	Total Dec 23,	Chg (abs.)
Bonds	70	5,053	19,334	24,457	26,673	-2,216
o.w. Italian gov	6	1,607	7,103	8,716	8,992	-276
o.w. Corporate	57	3,069	6,825	9,951	11,509	-1,558
Equity	146	ਟ ਤੋਂ ਤੋਂ ਤੋਂ ਵੱਡ ਤੋਂ ਵੱਡ ਵੱਡ ਵੱਡ ਵੱਡ ਵੱਡ ਵੀ ਵੱਡ ਵੀ ਵੱਡ ਵੀ ਵੱਡ ਵੀ ਵੱਡ ਵੀ ਵੀ ਵੀ ਵੀ ਵੀ ਵੀ ਵੀ ਵੀ ਵੀ ਵੀ ਵੀ ਵੀ ਵੀ ਵੀ ਵੀ ਵੀ ਵੀ ਵੀ ਵੀ ਵੀ ਵੀ ਵੀ ਵੀ ਵੀ ਵੀ ਵੀ ਵੀ ਵੀ ਵੀ ਵੀ ਵੀ ਵੀ ਵੀ ਵੀ ਵ		699	632	67
Funds and Sicav	700			700	693	7
Other*	602			602	602	O
Total as at 31.03.2024	1,518	5.606	19,334	26,458	28,600	-2,143
Total as at 31.12.2023	1,437	6,859	20,305	28,600
Chg vs Dec. 23	81	-1,253	-971	-2,143

ITALIAN GOVERNMENT BONDS (€BN)

SHARE OF ITALIAN BONDS (%)

44.7%

Italian bonds/

Total bonds

BPER:

BOND PORTFOLIO DURATION2 (YS)

AVERAGE YIELD3 (%)

certified

Balance Sheet

• 1. Financial statements figures (except for Italian government and Corporate bonds drawn from data management system).
• Duration in years, hedging included. 2.
• 1. Annualised.
• * Mainly derivatives.

Note: figures from data management system.

7.8%

Italian bonds/

Total Assets

EXECUTIVE SUMMARY

BALANCE SHEET

PROFIT AND LOSS

LIQUIDITY AND CAPITAL ADEQUACY

GUIDANCE

ANNEXES

P&L - (€mln)	1Q24 Stated	1Q24 Recurring	4Q23 Recurring	1023 Stated = Recurring	Q/Q (%)	Chg. Recurring Chg. Recurring YIY (%)
Net interest income	843.6	843.6	870.3	726.0	-3.1%	+16.2%
Net commission income	510.4	510.4	529.0	506.1	-3.5%	+0.9%
Core Income	1,354.0	1,354.0	1,399.3	1,232.1	-3.2%	+9.9%
Dividends	4.9	4.9	0.9	2.2	+419.9%	+119.6%
Gains on equity investments measured under the equity method	-4.1	-4.1	6.9	11.5	-160.1%	-135.7%
Net income from financial activities	14.0	14.0	4.5	50.9	+212.7%	-72.6%
Other operating expenses/income	-12.9	-12.9	63.1	33.2	-120.4%	-138.8%
Operating Income	1,355.8	1,355.8	1,474-7	1,330.0	-8.1%	+2.0%
Staff costs	-437-7	-437-7	-461.4	-429.2	-5.1%	+2.0%
Other administrative expenses	-200.2	-200.2	-236.4	-189.5	-15.3%	+5.7%
Depreciations & Amortizations	-63.0	-63.0	-89.5	-57-2	-29.6%	+10.3%
Operating costs	-701.0	-701.0	-787.3	-675.8	-11.0%	+3.7%
Net Operating Income	654.9	654-9	687.4	654.2	-4.7%	+0.1%
Net impairment losses for credit risk	-93-5	-93-5	-71.6	-140.5	+30.5%	-33.5%
Operating Income net of LLPs	561.4	561.4	615.7	513.6	-8.8%	+9.3%
Net provisions for risks and charges	12.3 I	12.3	7.0	-57.1	+76.4%	-121.6%
Gain (Losses) on Investments	149.3	-0.7	-74.8	0.6	-99.1%	-222.8%
Result from current operations	723.1	573.0	547-9	457.1	+4.6%	+25.4%
Contributions to SRF, DGS, FITD-SV	-111.8	-111.8	14.0	-69.5	-899.0%	+60.8%
Profit (Loss) before taxes	611.3	461.2	561.9	387.6	-17.9%	+19.0%
Taxes	-145.0	-143.0	91.9	-88.2	-255.6%	+62.0%
Profit (Loss) for the period	466.3	318.3	653.8	299.3	-51.3%	+6.3%
Minority Interests	-9.0	-9.0	-9.7	-8.7	-7.6%	+3.6%
Profit (loss) for the period pertaining to the parent company	457.3	309.3	644.1	290.7	-52.0%	+6.4%

█EMARKET SDIR

Profit and Loss

• Strong operating income driven by NII and net commissions
• Operating costs in line with 2024 quarterly guidance
• 1Q24 annualised cost of risk of 43 bps (vs 48 bps in FY23)
• Recurring Net Profit up 6.4% Y/Y to 309 €mln

^{+150.1 €}mln Capital Gain from UTP and Bad Loan Servicing Platform

Net Interest Income

BPER:

Figures from data management systems.

"Commercial NII" includes Ecobonus effect.

"Financial NII" includes Institutional and Interbank Funding, Financial Assets Portfolio and Other.

Figures from data management systems. Quarterly average data.

Profit and Loss

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Y/Y CHANGE BY FEE CATEGORIES

NET COMMISSION INCOME QUARTERLY TREND (€MLN)

Operating Costs

FOCUS ON STAFF COSTS MOVING PARTS4 (€MLN)

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BRANCHES3 AND EMPLOYEES5 OVER TIME (#BRANCHES; #HC)

See slide 11 and 28.
The Cost to income ratio is calculated on the basis of the reclassified income statement (operating income)
Helian bronnhes Italian branches.
Internal operational data.
Employees as per Financial Statements.

EMARKET

Loan Loss Provisions and Cost of Risk

Net NPE ratio Gross NPE ratio NPE coverage 2.6% 1.2% 54% 1.2% 2.4% 53% Dec 23 Dec 23 Dec 23

MAIN ASSET QUALITY RATIOS (%)

COST OF RISK TREND (BPS)

1Q24 annualised cost of risk of 43 bps (vs 48 bps in FY23) with total NPE coverage up to 54.2% (vs 52.5% in Dec 23)

UTP & BAD LOAN SERVICING PLATFORM

• · The servicing platform places an industrialised, data-centric vision of credit management at the core of its operations
• The transaction generated a capital gain of 150.1 €mln in 1Q24

SDIR

Profit and Loss

CERTIFIED

EXECUTIVE SUMMARY

BALANCE SHEET

PROFIT AND LOSS

LIQUIDITY AND CAPITAL ADEQUACY

GUIDANCE

ANNEXES

█EMARKET

Liquidity and Capital Ad

LCR ■ NSFR

Liquidity

. The capital result cluding profil (be pricin not alcated driviends). Le ing growarin anavanether contributed theseporitin Om final prosportisin Om final prosportisin Own f z. Otherincludes +1 bps OCIreserves, -2 bps AT coupon, +3 bps Deductions (DTAs, thresholds&other), +2 bps RWA dynamics and other.

EXECUTIVE SUMMARY

BALANCE SHEET

PROFIT AND LOSS

LIQUIDITY AND CAPITAL ADEQUACY

GUIDANCE

ANNEXES

FY24 recurring guidance1 confirmed

EXECUTIVE SUMMARY

BALANCE SHEET

PROFIT AND LOSS

LIQUIDITY AND CAPITAL ADEQUACY

GUIDANCE

ANNEXES

Change in the scope of consolidation

CHANGE IN THE SCOPE OF CONSOLIDATION

20 February 2023 was the date of closing of the transfer to Banco di Desio e della Branza of two separate business units consisting of 8 bank branches owned by Banco di Sarcegna and 40 branches owned by absorption of Banca Carge and Banca Monte di Lucca. The volumes pertaining to such scope had already been classified as Other Assets and Liabilities held for sale.

In July 2023, Società Italiana Flotte Aziendal Sp.4 ("SFA"), a company wholly-owned by absorption into Unipo Rental Sp.A., a subsidiary of UnipoSai Sp.A. Following the merger, BPER Bancal the owner of a 19.98% interest in the share capital of Unipolkertal, with which it has entered into a long-term commercial agreement for the referral of customers to UnipolRental for LTR contracts.

METHODOLOGICAL NOTE

Figures included in the tables shown in this document may not add exactly due to rounding differences.

Starting from the closing of the 1Q24 accounts, the Income Statement a reclassification change as shown below:

• · "Gains on equity investments measured under the equity method" as a separate line in "Operating Income")
• · "Contributions to the SRF, DGS and FITD-SV funds" are shown below the "Result from current operations before tax"
• · "Business trips and training charges" from "Other administrative expenses" to "Staff costs"

The above reclassifications were also applied to previous quarters.

CERTIFIE

Net Customer Loans

Loan Portfolio Composition

NET CUSTOMER LOANS BREAKDOWN BY SECTOR (€BN)

Business sector	Mar 24	% on Total Customer Loans	A % vs Dec 23
Manufacturing	12.9	14.7%	-1.7%
Wholesale and retail services, recoveries and repairs	7.0	8.0%	-2.2%
Construction	2.9	3.3%	-3.8%
Real Estate	3.8	4.3%	-3.1%
HORECA*	1.7	1.9%	-1.2%
Agriculture, forestry and fishing	1.0	1.1%	-0.6%
Other	9.8	11.1%	-3.9%
Total loans to non-financial businesses	38.9	44.3%	-2.6%
Households	41.5	47.3%	+0.1%
Total loans to financial businesses	7.3	8.3%	+6.8%
Total Customer Loans	87.7	100.0%	-0.6%
Debt Securities	13.2	15.0%	-3.0%

NET CUSTOMER LOANS BREAKDOWN BY GEOGRAPHICAL AREAS'(%)

* Hotels, Restaurants & Cafes (HORECA). Note: figures as per ATECO business sector definitions (STAT, the Italian National Institute of Statistics).

certified

Annexes

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Asset Quality Breakdown

Annexes

Gross exposures (€mln)	Mar 23		Jun 23		Sep 23		Dec 23		Mar 24		Chg Q/Q		Chg Y/Y
		comp. %		comp. %		comp. %		comp. %		comp. %	Abs.	Chg (%)	Abs.	Chg (%)
Non Performing Exposures (NPEs)	3,022	3.3%	2,504	2.7%	2,530	2.8%	2,197	2.4%	2,336	2.6%	139	+6.3%	-686	-22.7%
Bad loans	989	1.1%	1,020	1.1%	953	1.1%	632	0.7%	661	0.7%	29	+4.6%	-328	-33.2%
Unlikely to pay loans	1,872	2.0%	1,277	1.4%	1,337	1.5%	1,354	1.5%	1,463	1.6%	109	+8.1%	-409	-21.9%
Past due loans	161	0.2%	207	0.2%	240	0.3%	212	0.2%	213	0.2%		+0.6%	51	+31.9%
Gross performing loans	88,884	96.7%	88,801	97.3%	86,326	97.2%	87,834	97.6%	87,272	97.4%	-562	-0.6%	-1,612	-1.8%
Total gross exposures	91,906	100%	91,305	100%	88,856	100%	90,031	100%	89,609	100%	-423	-0.5%	-2,297	-2.5%
Adjustments to loans (€mln)	Mar 23		Jun 23		Sep 23		Dec 23		Mar 24		Chg Q/Q		Chg Y/Y
		coverage (%)		coverage (%)		coverage (%)		coverage (%)		coverage (%)	Abs.	Chg (%)	Abs.	Chg (%)
Adjustments to NPEs	1,841	60.9%	1,491	59.6%	1,449	57.3%	1,154	52.5%	1,266	54.2%	112	+9.7%	-576	-31.3%
Bad loans	795	80.4%	830	81.4%	753	79.1%	457	72.4%	478	72.3%	21	+4.5%	-317	-39.9%
Unlikely to pay loans	997	53.3%	603	47.2%	628	46.9%	639	47.2%	724	49.5%	85	+13.3%	-273	-27.4%
Past due loans	49	30.6%	58	28.0%	68	28.4%	28	27.3%	64	30.0%	6	+10.6%	15	+29.4%
Adjustments to performing loans	664	0.7%	719	0.8%	735	0.9%	653	0.7%	634	0.7%	-19	-2.9%	-29	-4.4%
Total adjustments	2,505	2.7%	2,210	2.4%	2,184	2.5%	1,807	2.0%	1,900	2.1%	ਰੇਤੇ	+5.1%	-605	-24.2%
Net exposures (€mIn)	Mar 23		Jun 23		Sep 23		Dec 23		Mar 24		Chg Q/Q		Chg Y/Y
		comp. %		comp. %		comp. %		comp. %		comp. %	Abs.	Chg (%)	Abs.	Chg (%)
Non Performing Exposures (NPEs)	1,181	1.3%	1,013	1.1%	1,080	1.2%	1,043	1.2%	1,071	1.2%	27	+2.6%	-110	-9.3%
Bad loans	194	0.2%	190	0.2%	199	0.2%	175	0.2%	183	0.2%	8	+4.8%	-11	-5.7%
Unlikely to pay loans	875	1.0%	674	0.8%	709	0.8%	715	0.8%	739	0.8%	24	+3.3%	-136	-15.5%
Past due loans	112	0.1%	149	0.2%	172	0.2%	154	0.2%	149	0.2%	-5	-3.2%	37	+33.0%
Net performing loans	88,220	98.7%	88,082	98.9%	85,592	98.8%	87,181	98.8%	86,638	98.8%	-543	-0.6%	-1,582	-1.8%
Total net exnosures	80.101	100%	80.005	100%	86.672	100%	88.771	100%	87.700	100%	-516	-0.6%	-1.602	-1.0%

Financial Assets: Highlights Annexes BOND PTF GEOGRAPHICAL BREAKDOWN (%) GOVIES PTF GEOGRAPHICAL BREAKDOWN (%) Other USA Other 6.7% 6.7% 23.3% Germany 6.9% Spain USA Italy 8.1% 5.0% 44.6% Spain 5.6% Italy Germany 71.6% 8.8% France 12.7% BONDS PTF MATURITIES1 (€BN) ITALIAN GOVIES MATURITIES' (€BN) 13.4 4.5 3.6 2.8 3.0 1.8 1.2 1.2 1.3 0.5 2026 2026 2024 2025 > 2027 2024 2025 > 2027

BPER:

EMARKET SDIR certified

Bond Maturities and Issuances: Highlights

BONDS ISSUED* (EBN)

SDIR

Annexes

certified

OUTSTANDING BONDS (€BN)

	Dec 23	Mar 24
Wholesale bonds	4.6	4.9
Covered bonds	6.3	6.0
Retail bonds	0.6	0.5
Total bonds	11.5	11.4

CREDIT RATINGS

	LT Issuer	LT Deposits	Outlook
DBRS	вв	BBB (high)	Stable
Fitch	BBB-	вве	Stable
Moody's	Baı	Baaz	Positive
S&P Global	BBB-		Positive

BOND MATURITIES BREAKDOWN (€BN)

BPER:

Note 1: figures on this page reflect nominal amounts.

Note 2: figures from data management system. Note 3: the AT1 bond issuance is not included in this slide.

26 Note collection normal non in the contributed in court as a presents with the list condistic consisted. Pops with sell seed by since sourises with sell secopised and servisan the item "bonds issued" (see Bol's circularletter 201 o2, 16 Lettera BDL prot, 014 € Circolare Bankit 272 " La Matrice dei conti (Chart of Accounts )"). * Data does not include repaid issuances.

Reclassified Balance Sheet

Annexes

certified

ASSETS (€BN)

€/bn	Dec 22	Mar 23	Jun 23	Sep 23 /	Dec 23 /	Mar 24 /	Chg Q/Q	Chg Y/Y
Customer Loans	91.2	89.4	89.1	86.7	88.2	87.7	-0.6%	-1.9%
Securities Portfolio	30.7	30.7	30.5	30.0	28.6	26.5	-7.5%	-13.9%
Interbank Assets	16.9	18.5	10.3	13.4	11.7	12.6	+7.0%	-31.9%
PPE & Intangible Assets	3.1	3.1	3.0	3.1	3.1	3.2	+3.3%	+4.7%
Other Assets -	10.5	ರಿ	10.2	10.4	10.5	10.1	-3.2%	+6.8%
Total Assets	152.3	151.1	143.1	143.5	142.1	140.1	-1.4%	-7.3%

LIABILITIES AND SHAREHOLDERS' EQUITY (€BN)

€/bn	Dec 22	Mar 23 /	Jun 23	Sep 23	Dec 23 /	Mar 24/	Chg Q/Q	Chg Y/Y
Direct Deposits	114.8	113.5	113.7	120.1	118.8	118.1	-0.6%	+4.1%
Interbank Liabilities	22.0	22.3	12.5	9.0	7.8	5.6	-27.2%	-74.7%
Shareholders' Equity	8.1	8.4	8.7	9.1	9.6	10.5	+10.0%	+24.6%
Other Liabilities3	7.4	6.9	8.2	5.2	6.0	5.8	-3.9%	-15.6%
Total Liabilities and Shareholders' Equity	152.3	151.1	143.1	143.5	142.1	140.1	-1.4%	-7.3%

1.

1. Other Assets include Macro-hedging activity, Equity investments, Loans mandatorily measured at fair value and Other assets.

2. Other Liabilities include Financial liabilities held for trading, Macro-hedging activity and Other liabilities.

| EMARKET
SDR

4Q23 P&L and a focus on non-recurring items

Annexes

P&L - (€mln)	4Q23 Stated	Non-recurring items	4Q23 Recurring
Net interest income	870.3		870.3
Net commission income	529.0		529.0
Core Income	1,399.3		1,399.3
Dividends	0.9		0.9
Gains on equity investments measured under the equity method	6.9		6.9
Net income from financial activities	4.5		4.5
Other operating expenses/income	63.1		63.1
Operating Income	1,474-7	Staff costs	1,474-7
Staff costs	(1) -755-9	1) -294.5 €mln	-461.4
Other administrative expenses	-236.4	New Workforce	-236.4
Depreciations & Amortizations	-89.5	Optimisation	-89.5
Operating costs	-1,081.8		-787-3
Net Operating Income	392.9		687-4
Net impairment losses for credit risk	-71.6		-71.6
Operating Income net of LLPs	321.3		615.7
Net provisions for risks and charges	7.0		7.0
Gain (Losses) on Investments	-74.8		-74.8
Result from current operations	253-5		547-9
Contributions to SRF, DGS, FITD-SV	14.0		14.0
Profit (loss) before taxes	267.5	Taxes	561.9
Taxes	(1 174-5	+82.6 €mln 1	91.9
Profit (Loss) for the period	442.0	Tax Effect of	653.8
Minority Interests	-ਰੇ ਦੇ	New Workforce	-9.7
Profit (loss) for the period pertaining to the parent company	432-4	Optimisation	644.1

BPERS

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Contacts for Investors and Financial Analys

Nicola Sponghi Head of Investor Relations

♡ Via Aristotele, 195 - 41126 Modena - Italy (2) +39 059 2022219 0 nicola.sponghi@bper.it

Federico Febbraro Investor Relations

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Chiara Leonelli Investor Relations

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Sara Viglietti Investor Relations

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