Bper Banca

Investor Presentation • Aug 6, 2025

2Q25 & 1H25 Results Presentation

MILAN | AUGUST 6TH | 2025

Disclaimer

The content of this document has a merely informative and provisional nature and is not to be construed as providing investment advice. The statements contained herein have not been independently verified. No representation or warranty, either express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness, correctness or reliability of the information contained herein. Neither the Company nor any of its representatives shall accept any liability whatsoever (whether in negligence or otherwise) arising in any way in relation to such information or in relation to any loss arising from its use or otherwise arising in connection with this document. By accessing these materials, you agree to be bound by the foregoing limitations.

This presentation contains certain forward-looking statements, projections, objectives, estimates and forecasts reflecting the BPER management's current views with respect to certain future events. Forward-looking statements, projections, objectives, estimates and forecasts are generally identifiable by the use of the words "may," "will," "should," "plan," "expect," "anticipate," "estimate," "believe," "intend," "project," "goal" or "target" or the negative of these words or other variations on these words or comparable terminology. These forward-looking statements include, but are not limited to, all statements other than statements of historical facts, including, without limitation, those regarding BPER Banca's future financial position and results of operations, strategy, plans, objectives, goals and targets and future developments in the markets where BPER participates or is seeking to participate.

Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements as a prediction of actual results. The BPER Group's ability to achieve its projected objectives or results is dependent on many factors which are outside management's control. Actual results may differ materially from (and be more negative than) those projected or implied in the forward-looking statements. Such forward-looking information involves risks and uncertainties that could significantly affect expected results and is based on certain key assumptions.

All forward-looking statements included herein are based on information available to BPER as of the date hereof. BPER undertakes no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable law. All subsequent written and oral forward-looking statements attributable to BPER or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements.

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

** * **

The Manager responsible for preparing the Company's financial reports, Giovanni Tincani, 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.

2 BPER Banca S.p.A., Head Office in Via San Carlo 8/20, Modena – Tax Code and Modena Companies Register No. 01153230360 – Company belonging to the BPER BANCA GROUP VAT, VAT No. 03830780361 – Share capital Euro 2,909,962,900.57 – ABI Code 5387.6 – Register of Banks No. 4932 – Member of the Interbank Deposit Guarantee Fund and of the National Guarantee Fund – Parent Company of the BPER Banca S.p.A. Banking Group – Register of Banking Groups No. 5387.6 – Tel. +39 059.2021111 – Telefax +39 059.2022033 – e-mail: servizio.clienti@bper.it – Certified e-mail (PEC): bper@pec.gruppobper.it – bper.it – group.bper.it

Agenda

Executive summary

Update on BPSO Voluntary Public Ex. Offer

B:Dynamic | Full Value 2027

Annexes

Final remarks

Group results

Update on BPSO Voluntary Public Ex. Offer

Executive summary

B:Dynamic | Full Value 2027

Group results

Final remarks

Annexes

Significant shareholders' acceptance rate underlines strong rationale of the business combination …

• BPER completed the public tender and exchange offer within the planned timeframe
• BPER paid the following total considerations to BPSO shareholders in the context of the Offer, composed of:
  • A consideration of 528.2 m newly issued BPER ordinary shares, equivalent to 27.1% of BPER share capital issued by executing the capital increase reserved to the Offer(1)
  • A cash consideration equal to an aggregated amount of €364.3 m (€1.00 p.s.)
• This will enable the following key steps:
  • The full integration of BPSO into BPER Group
  • The generation of pre-tax annual synergies of ~€290 m
  • The achievement of all strategic targets related to the business combination: (i) combined financial targets remain unchanged; (ii) EPS accretion for both BPER and BPSO's shareholders; and (iii) attractive and sustainable shareholders' remuneration

~80.7%

BPER's overall stake in BPSO(2)

Integration of BPSO into BPER Group expected to be completed in 1H26

… strengthening BPER position as a leading player in the Italian banking sector

"B:Dynamic | Full Value 2027" will be updated with BPSO figures within 1H26

5 (1) Market share in Italy, for TFA based on Assoreti's cumulative data in Italy as of FY24, for loans and deposits based on Banca d'Italia database as of April 2025 and for bank branches based on ABI data as of July 2025. (2) Ranking in Italy calculated based on sample of Italian banking peers, including Intesa Sanpaolo, UniCredit, Banco BPM, Banca MPS, Credit Agricole Italia, Credem and BNL. (3) Targets as disclosed in the Offering Documents. (4) RoTE calculated as: combined Net Income 2027E / tangible book value 2027E based on CET1 ratio target of 14.5%

Progress update – Indicative timeline of the transaction

Agenda

Executive summary

B:Dynamic | Full Value 2027

Update on BPSO Voluntary Public Ex. Offer

Annexes

Final remarks

Group results

Update on BPSO Voluntary Public Ex. Offer

Executive summary

B:Dynamic | Full Value 2027

Group results

Final remarks

Annexes

Best ever 2Q Net Profit leading to record 1H Net Profit at €903 m

Record first half Net Profit(1) up by 29.5% H/H at €903 m in 1H25

Core Revenues stable H/H at €2.7 bn and improved Cost/Income ratio at 46.6% in 1H25

Better than forecast Asset Quality evolution confirmed with a Cost of Risk(3) well below 40bps

Strong Balance Sheet and higher Capital Ratios thanks to Organic Capital Generation of ~200bps in 1H25

Sound liquidity profile with short & long-term ratios well above regulatory thresholds

8 (1) Net Profit adjustments of previous quarters are shown on slide 31 in Annex. (2) Cost/Income calculated on Operating Costs adjusted as shown on slide 31 in Annex. (3) CoR annualised. (4) The capital ratio as at 30 June 2025 is to be considered Phased-in on the basis of the new prudential supervisory framework entered into force as of 1 January 2025 (Basel IV) and is calculated by including profit for the period for the portion not allocated to dividends, thus simulating, in advance, the effects of the ECB's authorisation to include these profits in Own Funds pursuant to art. 26, para 2 of the CRR.

Record 1H Net Profit driven by higher Revenues and lower Operating Costs

1H25	H/H	2Q25	Q/Q	Y/Y
2,852.0	+3.4%	1,423.1	-0.4%	+1.9%
1,626.0	-3.4%	814.1	+0.3%	-2.9%
1,063.5	+4.8%	522.4	-3.5%	+1.2%
-1,328.1	-4.9%	-660.7	-1.0%	-6.5%
1,523.9	+11.9%	762.4	+0.1%	+10.5%
-142.8	-21.1%	-72.3	+2.5%	-15.9%
1,368.7	+28.2%	694.9	+3.1%	+14.6%
903.5	+29.5%	460.5	+4.0%	+18.6%
903.5	+24.8%	460.5	+4.0%	+72.6%

P&L Key Figures (€m) Net Profit stated vs adjusted (€m)

Guidance improved thanks to strong 1H25 results

			FY25 Guidance vs FY24
	FY24	1H25	BPER (stand alone)
			Improved vs ~€5.4 bn
Total Revenues	€5.6 bn	€2.9 bn	~€5.5 bn provided in 1Q25
o.w. Net Inter. Income	€3.4 bn	€1.6 bn	Down mid-single digit
o.w. Net Comm. Income	€2.1 bn	€1.1 bn	Up mid-single digit
Op. Costs (excl. D&As)	€2.5 bn(1)	€1.2 bn
Cost/Income	50.3%(1)	46.6%	Improved vs ~51% ~50% provided in 1Q25
Cost of Risk	36bps	31bps(2)	<40bps
Net Profit	€1.4 bn(1)	€903 m
RoTE(3)	16.9%(1)	20.4%
CET1 Ratio	15.8%	16.2%(4)	Improved vs >15.0% >15.5% provided in 1Q25

10 (1) Operating Costs, C/I and Net Profit are adjusted according to slide 31 in Annex. (2) CoR annualised. (3) Calculated as: Net Profit / (Average Tangible Book Value - Minorities interests - AT1 - Dividends accrued). (4) The capital ratio as at 30 June 2025 is to be considered Phased-in on the basis of the new prudential supervisory framework entered into force as of 1 January 2025 (Basel IV) and is calculated by including profit for the period for the portion not allocated to dividends, thus simulating, in advance, the effects of the ECB's authorisation to include these profits in Own Funds pursuant to art. 26, para 2 of the CRR.

Agenda

Executive summary

Update on BPSO Voluntary Public Ex. Offer

B:Dynamic | Full Value 2027

Annexes

Final remarks

Group results

Update on BPSO Voluntary Public Ex. Offer

Executive summary

B:Dynamic | Full Value 2027

Group results

Final remarks

Annexes

"B:Dynamic | Full Value 2027" on track

100% Business Plan initiatives launched

KEY HIGHLIGHTS

Pillar 1

• Strong growth in new lending in the first half 2025 (+20.7% H/H)
• Continued solid performance of Net Commissions in 1H25, with a remarkable contribution of AuM progressing in line with the Plan (+12.2% H/H), and Bancassurance showing a double-digit increase (+15.8% H/H and +19.3% Q/Q)
• BPER ranked as the "#1 Best Small & Mid Cap Bank" in Europe in the annual Extel(3) Survey

Pillar 2

▪ Ongoing enhancements in digital and remote channels, with new products and features launched, especially for mortgages and consumer credit loans

Pillar 3

• Maintaining a conservative capital and risk approach, also considering Basel IV impact Pillar 4
• Technology, Security & AI: (i) Capex deployed according to the Plan with c. €200 m already committed in 1H25. (ii) Recognized as a top performer in "AI Transformation Italy" by the Google Cloud AI Groundbreaker
• ESG Commitment: c. €1.5 bn in new ESG lending in 1H25 and financial education initiatives reaching over 80,000 students in 2024-2025 academic year
• Organization & People: over 2,500 colleagues already involved in BPER Academy & training paths. Launch of the new Talent Attraction strategy, connecting with c. 1,000 students at 20 academic events

international finance.

(1) Calculated on Operating Costs, excluding Depreciation and Amortizations. (2) Details on slide 36 in Annex. (3) Extel is a specialized magazine and independent research company in the field of

Agenda

Executive summary

B:Dynamic | Full Value 2027

Update on BPSO Voluntary Public Ex. Offer

Annexes

Final remarks

Group results

Update on BPSO Voluntary Public Ex. Offer

Executive summary

B:Dynamic | Full Value 2027

Group results

Final remarks

Annexes

Resilient performance in Core Revenues H/H

KEY HIGHLIGHTS

Total Revenues

▪ Capital efficiency remains strong with Total Revenues over RWAs at 9.8%(1)

Core Revenues

0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% 7.0% 8.0% 9.0%

(1)

• 1H25 Core Revenues stable at €2.7 bn H/H mainly thanks to robust growth in Net Commission Income (+4.8% H/H) driven by AuM, Life Insurance and Bancassurance products
• 1H25 Net Commission Income on Total Revenues stood at 37.3% (36.8% in 1H24)
• 2Q25 Core Revenues stable at €1.3 bn Y/Y and Q/Q

Dividends

▪ Dividends at €39.7 m in 2Q25 (+€36.4 m Q/Q and +€7.5 m Y/Y)

(1) Net Revenues calculated as: Operating Income excluding Other operating expense/income net of Provisions. Net Revenues considered cumulative for the period and annualised. RWAs considered point in time as the date of closing of the reporting period. In 1Q25 and 2Q25 RWAs exclude Basel IV effects.

Commercial NII stable Q/Q despite the accelerated decline in the interest rates environment

KEY HIGHLIGHTS

NII

• In 1H25 NII was down at €1.6 bn (-3.4% H/H) due to accelerated interest rates decline in the last twelve months
• In 2Q25, NII increased by 0.3% Q/Q thanks to both loans growth (+€13.5 m), more than compensating lower interest rates (-€13.1 m), and positive impact from non-commercial components (+€1.9 m)

Commercial Rates

▪ During the quarter, commercial spread narrowed affected by interest rates reduction

NII Sensitivity

▪ Interest Rates sensitivity: +/-100 bps equal to approx. €150 m, decreased vs €165 m in 1Q25

Continued solid performance of Net Commission Income, up by 4.8% H/H

Net Commission Income by category (€m)

	1H24	% on Total	1H25	% on Total	H/H	2Q25	Q/Q	Y/Y
Wealth	426.3	42.0%	465.5	43.8%	+9.2%	225.4	-6.1%	+4.3%
o/w AuC	39.5	3.9%	30.0	2.8%	-24.1%	13.0	-23.8%	-30.6%
o/w AuM	311.7	30.7%	349.8	32.9%	+12.2%	169.4	-6.1%	+6.0%
o/w Life Insur. & Others	75.2	7.4%	85.8	8.1%	+14.1%	43.0	+0.7%	+14.0%
Bancassurance	49.9	4.9%	57.8	5.4%	+15.8%	31.4	+19.3%	+7.8%
Banking services	538.5	53.1%	540.2	50.8%	+0.3%	265.5	-3.3%	-1.9%
Total	1,014.7	100.0%	1,063.5	100.0%	+4.8%	522.4	-3.5%	+1.2%

KEY HIGHLIGHTS

Net Commission Income

• In 1H25 Net Commission Income up at €1.1 bn (+4.8% H/H) mainly driven by AuM, Life Insurance and Bancassurance products, despite the higher impact of bank holidays during Apr/May 2025
• In 2Q25, Net Commissions up 1.2% Y/Y
• Higher contribution of Net Commission Income on Total Revenues at 37.3% in 1H25 (36.8% in 1H24)
• Wealth Management fees up by +9.2% H/H with AuC & AuM running fees up by 5.4% H/H(2)
• In 1H25 Banking Services Fees as the main contributor to overall Net Commission Income increased at €540.2 m (+0.3% H/H) mainly thanks to positive performance of structured finance and credit cards fees

1H24 1H25

(1) Since 2Q24, Net Commission Income included "charges for payment services provided". Other administrative expenses netted against recoveries of costs for services ancillary to lending. In the interest of comparability of results, similar reclassifications have been made for the comparative quarters. (2) Running fees are net of AuC & AuM upfront fees (€42.9 m in 1H24 and €54.8 m in 1H25).

Strong increase in TFA at €312.3 bn in 2Q25, up by €14 bn Y/Y

KEY HIGHLIGHTS

Deposits

▪ Deposits increased by €3.4 bn over the quarter at €120.8 bn, thanks to BPER strength to attract customer liquidity

AuC & AuM

• AuC and AUM strongly increased over the quarter thanks to customer asset rotation:
  • AuC at €96.0 bn, up by €3.7 bn Q/Q, and
  • AuM at €74.1 bn up by €2.1 bn Q/Q
• AuM net inflows were €0.5 bn in 2Q25

Life insurance

▪ Life Insurance stable at €21.3 bn Q/Q

Cost/Income improved at 46.6% in 1H25 confirming the strong focus on operational efficiency

KEY HIGHLIGHTS

Total Costs

• In 1H25, Total Costs at €1.3 bn with a lower Cost/Income Ratio of 46.6% showing a strong commitment to cost control:
  • HR Costs: decreased by 7.2% H/H, mainly driven by organic turnover
  • Non-HR Costs: almost flat H/H
• In 2Q25, Total Costs at €660.7 m with a lower Cost/Income Ratio of 46.4%

Headcount evolution

▪ Headcount at 19,224 at the end of June 2025 with a reduction of approximately 1,200, compared to 30 June 2024

Note: Total Costs are adjusted according to slide 31 in Annex.

(1) C/I is calculated on Operating Costs adjusted as shown on slide 31 in Annex and excluding €34.3 m related to a software depreciation in 4Q24. (2) Managerial figures.

Sound CoR at 31bps in 1H25. NPE coverage ratio improved at 55.6% in 2Q25, among the best in Italy

NPE Coverage Ratio by Asset class

KEY HIGHLIGHTS

Cost of Risk (CoR)

• In 1H25, CoR(1) at 31bps down by 10bps H/H, thanks to improved asset quality dynamics
• In 2Q25, CoR(1) stable Q/Q

Overlays

▪ At the end of June 2025, total cumulative overlays at €213.8 m, down by €14.4 m Q/Q

Performing Loans Coverage Ratio

▪ In 2Q25, Coverage Ratio on Performing Loans at a strong 0.63%, one of the highest level amongst Italian peers

NPE Coverage Ratio

▪ Total NPE Coverage Ratio up at 55.6% (+143bps Q/Q) mainly driven by increased UTP coverage

Strong asset quality with Gross and Net NPE Ratios among the lowest in Italy

KEY HIGHLIGHTS

Gross NPE Stock

▪ Gross and Net NPE Ratios improved both Y/Y and Q/Q

Stage Classification

▪ Net Stage 2 Loans on Total Net Customers Loans decreased to 8.0% in 2Q25 from 8.1% in 1Q25, with a coverage ratio at 4.9%

20

RWAs stable given high quality of new loan origination

RWAs

• At the end of June 2025, RWA landed at €53.9 bn, excluding Basel IV impact in 1Q25
• Positive credit RWAs evolution, down Q/Q at €44.9 bn mainly thanks to the high quality of new loan origination and portfolio management actions

CET1 Ratio at 16.2% with Organic Capital Generation of €1.1 bn in 1H25

KEY HIGHLIGHTS

Organic Capital Generation (OCG)(1)

• OCG of €1.1 bn in 1H25 with an impact on CET1 Ratio of ~+200bps, supported by the positive income dynamics
• OCG of €572 m in 2Q25 with an impact on CET1 Ratio of +103bps

Quarterly key drivers

• 2Q25 CET1 Ratio up Q/Q at 16.2%
• In 1H25, EPS of €0.638 (diluted EPS of €0.624)

EBA stress test result

▪ The outcomes of the supervisory stress test exercise recently published by the EBA confirms BPER capital strength, with a limited capital depletion of 94bps(2) in the adverse scenario

Note: The capital ratios as at 30 June 2025 are to be considered Phased-in on the basis of the new prudential supervisory framework entered into force as of 1 January 2025 (Basel IV) and are calculated by including profit for the period for the portion not allocated to dividends, thus simulating, in advance, the effects of the ECB's authorisation to include these profits in Own Funds pursuant to art. 26, para 2 of the CRR. (1) Organic Capital Generation calculated as stated Net Profit including release on DTA from tax loss carry forward contribution and RWAs dynamic. (2) Maximum depletion over the 3 years of the horizon.

Robust balance sheet with a sound liquidity profile

KEY HIGHLIGHTS

LCR and NSFR

• LCR stood at 163% at the end of June 2025, stable compared to the end of March 2025
• NSFR stable at 135% at the end of June 2025 from 134% at the end of March 2025

Balance Sheet dynamics

▪ At the end of June 2025, Loan to Deposit Ratio at 76.7% stable Q/Q, one of the lowest amongst Italian peers

Bond portfolio evolution and duration

(1) Duration in years, hedging included. (2) Annualised.

Italian Govies

• Italian Govies stand at €14.8 bn at the end of June 2025, up by €1.2 bn Q/Q and €5.9 bn Y/Y, mainly related to selective portfolio management strategy
• This portfolio is 49.5% of the Total Bonds outstanding

Duration

▪ Total Bond portfolio has a duration of 2.1 years at the end of June 2025

Yield

▪ The total financial portfolio has an average yield of 2.4%(2) in 2Q25 compared to 2.5%(2) in 1Q25

All Rating Agencies improved credit profile in 1H25

Bond issued and maturities

▪ In 1H25, a €500 m Senior Non-Preferred Bond issued, confirming BPER strong access to wholesale market

Rating Agencies

• All key ratings/outlooks assigned to the Bank by the various ratings agencies improved in the first half 2025:
  • Fitch upgraded BPER's Outlook from Stable to Positive, in January 2025
  • S&P Global upgraded BPER's long-term rating from BBB- to BBB, in April 2025
  • Moody's upgraded BPER's Outlook from Stable to Positive, in May 2025
  • DBRS upgraded BPER's long-term rating from BBB to BBB (high), in June 2025

Agenda

Executive summary

B:Dynamic | Full Value 2027

Update on BPSO Voluntary Public Ex. Offer

Annexes

Final remarks

Group results

Update on BPSO Voluntary Public Ex. Offer

Executive summary

B:Dynamic | Full Value 2027

Group results

Final remarks

Annexes

Divisional Database in 1H25

Note: Provisional management data on the commercial perimeter.

27 (1) Total Wealth Net Commission Income include all Group Business Units Wealth Net Commission Income. (2) Calculated for the Private & Wealth Management Division, excluding revenues relating to Arca SGR non-captive. (3) Including all Group Business Units Indirect Deposits.

Final Remarks

Successful completion of BPSO Tender Offer

Relentless business growth thanks to BPER's network commercial strength

Asset quality amongst the best in Italy

Robust capital supported by strong Organic Generation of ~200bps (+€1.1 bn) in 1H25

"B:Dynamic | Full Value 2027" fully on track and will accelerate thanks to BPSO business combination

Business Plan Update post BPSO integration planned for 1H26

Agenda

Executive summary

B:Dynamic | Full Value 2027

Update on BPSO Voluntary Public Ex. Offer

Annexes

Final remarks

Group results

Update on BPSO Voluntary Public Ex. Offer

Executive summary

B:Dynamic | Full Value 2027

Group results

Final remarks

Annexes

Group P&L

P&L - (€m)	1H25 Stated	1H24 Stated	Delta H/H	Delta H/H (%)	2Q25 Stated = Adjusted	Delta Q/Q %	Delta Y/Y %
Net interest income	1,626.0	1,682.5	-56.5	-3.4%	814.1	0.3%	-2.9%
Net commission income	1,063.5	1,014.7	48.7	4.8%	522.4	-3.5%	1.2%
Core Income	2,689.5	2,697.2	-7.7	-0.3%	1,336.5	-1.2%	-1.4%
Dividends	43.0	37.1	5.9	16.0%	39.7	--	23.4%
Gains on equity investments measured under the equity method	12.3	-1.3	13.6	--	7.0	32.1%	145.8%
Net income from financial activities	34.9	10.3	24.7	239.5%	16.2	-14.0%	-539.6%
Other operating expenses/income	72.2	14.7	57.5	390.3%	23.7	-51.1%	123.2%
Operating Income	2,852.0	2,758.1	93.9	3.4%	1,423.1	-0.4%	1.9%
Staff costs	-822.9	-1,060.2	237.2	-22.4%	-408.9	-1.3%	-34.3%
Other administrative expenses	-354.4	-377.3	22.9	-6.1%	-174.7	-2.7%	-7.4%
Depreciations & Amortizations	-150.8	-132.3	-18.5	14.0%	-77.0	4.5%	11.3%
Operating costs	-1,328.1	-1,569.7	241.6	-15.4%	-660.7	-1.0%	-25.0%
Net Operating Income	1,523.9	1,188.4	335.5	28.2%	762.4	0.1%	47.6%
Net impairment losses for credit risk	-142.7	-175.1	32.5	-18.5%	-71.7	1.1%	-12.2%
Operating Income net of LLPs	1,381.2	1,013.2	368.0	36.3%	690.7	0.0%	58.9%
Net provisions for risks and charges	-14.7	-11.0	-3.7	33.9%	2.1	-112.7%	-133.7%
Gain (Losses) on Investments	2.2	151.3	-149.1	-98.5%	2.0	838.5%	1.0%
Result from current operations	1,368.7	1,153.6	215.1	18.7%	694.9	3.1%	61.4%
Contributions to systemic funds	0.0	-109.6	109.6	-100.0%	0.0	n.s.	-100.0%
Profit (Loss) before taxes	1,368.7	1,044.0	324.7	31.1%	694.9	3.1%	60.6%
Taxes	-448.6	-302.8	-145.8	48.1%	-226.2	1.7%	43.4%
Profit (Loss) for the period	920.1	741.2	178.9	24.1%	468.6	3.8%	70.5%
Minority Interests	-16.6	-17.0	0.4	-2.3%	-8.1	-5.1%	0.8%
Profit (loss) for the period pertaining to the parent company	903.5	724.2	179.3	24.8%	460.5	4.0%	72.6%

Note: in the present document, Operating Income and Total Revenues are synonyms, as are Core Revenues/Core Income and Operating Costs/Total Costs.

2023 and 2024 Non-recurring P&L items

Group Reclassified Balance Sheet

	1Q23	2Q23	3Q23	4Q23	1Q24	2Q24	3Q24	4Q24	1Q25	2Q25	Q/Q	Y/Y
Customer Loans	89.4	89.1	86.7	88.2	87.7	89.0	88.9	90.1	89.6	92.7	+3.5%	+4.2%
Securities Portfolio	30.7	30.5	30.0	28.6	26.5	26.5	27.7	29.0	30.7	32.0	+4.3%	+20.8%
Interbank Assets(1)	18.5	10.3	13.4	11.7	12.6	10.1	10.4	9.4	8.9	8.9	+0.5%	-11.9%
PPE & Intangible Assets	3.1	3.0	3.1	3.1	3.2	3.2	3.2	3.2	3.2	3.2	-0.8%	-1.5%
Other Assets(2)	9.5	10.2	10.4	10.5	10.1	10.6	9.7	8.8	9.6	7.7	-19.6%	-27.1%
Total Assets	151.1	143.1	143.5	142.1	140.1	139.4	139.9	140.6	142.0	144.5	+1.8%	+3.7%
						Liabilities and Shareholders' Equity (€bn)
	1Q23	2Q23	3Q23	4Q23	1Q24	2Q24	3Q24	4Q24	1Q25	2Q25	Q/Q	Y/Y
Direct Deposits	113.5	113.7	120.1	118.8	118.1	117.6	116.6	118.1	117.4	120.8	+2.9%	+2.8%
Interbank Liabilities	22.3	12.5	9.0	7.8	5.6	5.3	5.0	5.0	4.6	3.9	-14.2%	-26.5%
Shareholders' Equity	8.4	8.7	9.1	9.6	10.5	10.4	10.8	11.6	12.0	11.6	-3.0%	+12.2%
Other Liabilities(3)	6.9	8.2	5.2	6.0	5.8	6.1	7.5	5.9	8.0	8.1	+2.3%	+32.7%
Total Liabilities and

(1) Interbank Assets include Cash and cash equivalents and Loans to banks. (2) Other Assets include Hedging derivatives, Equity investments, Loans mandatorily measured at fair value and Other assets. (3) Other Liabilities include Financial liabilities held for trading, Hedging derivatives and Other liabilities.

Asset Quality Breakdown

Gross exposures (€m)	1Q24				2Q24		3Q24		4Q24		1Q25		2Q25		Q/Q		Y/Y		YTD
		B/D		B/D		B/D		B/D		B/D		B/D	Abs.	Chg	Abs.	Chg	Abs.	Chg
Non Performing Exposures (NPEs)	2,336	2.6%	2,513	2.8%	2,525	2.8%	2,212	2.4%	2,387	2.6%	2,382	2.5%	-5	-0.2%	-131	-5.2%	170	7.7%
Bad loans	661	0.7%	710	0.8%	737	0.8%	517	0.6%	578	0.6%	638	0.7%	60	10.3%	-72	-10.2%	121	23.5%
Unlikely to pay loans	1,463	1.6%	1,653	1.8%	1,644	1.8%	1,573	1.7%	1,689	1.8%	1,613	1.7%	-76	-4.5%	-40	-2.4%	40	2.5%
Past due loans	213	0.2%	150	0.2%	144	0.2%	122	0.1%	120	0.1%	131	0.1%	11	9.1%	-19	-12.8%	9	7.0%
Gross performing loans	87,272	97.4%	88,427	97.2%	88,377	97.2%	89,747	97.6%	89,100	97.4%	92,226	97.5%	3,126	3.5%	3,800	4.3%	2,479	2.8%
Total gross exposures	89,609	100.0%	90,940	100.0%	90,902	100.0%	91,959	100.0%	91,487	100.0%	94,608	100.0%	3,121	3.4%	3,669	4.0%	2,649	2.9%

Adjustments to loans (€m)	1Q24		2Q24		3Q24		4Q24		1Q25		2Q25		Q/Q		Y/Y		YTD
		coverage		coverage		coverage		coverage		coverage		coverage	Abs.	Chg	Abs.	Chg	Abs.	Chg
Adjustments to NPEs	1,266	54.2%	1,339	53.3%	1,375	54.4%	1,201	54.3%	1,294	54.2%	1,325	55.6%	31	2.4%	-14	-1.1%	124	10.4%
Bad loans	478	72.3%	494	69.6%	490	66.5%	392	75.8%	429	74.2%	473	74.2%	44	10.3%	-21	-4.3%	81	20.8%
Unlikely to pay loans	724	49.5%	803	48.6%	839	51.0%	768	48.8%	823	48.7%	803	49.8%	-20	-2.4%	0	0.1%	35	4.6%
Past due loans	64	30.0%	42	28.1%	46	32.1%	41	33.6%	42	35.3%	49	37.1%	7	14.8%	7	15.0%	8	18.0%
Adjustments to performing loans	634	0.7%	638	0.7%	649	0.7%	622	0.7%	594	0.7%	582	0.6%	-12	-2.1%	-56	-8.7%	-40	-6.5%
Total adjustments	1,900	2.1%	1,977	2.2%	2,024	2.2%	1,823	2.0%	1,888	2.1%	1,907	2.0%	19	1.0%	-70	-3.5%	84	4.6%

Net exposures (€m)	1Q24		2Q24		3Q24		4Q24		1Q25		2Q25		Q/Q		Y/Y		YTD
		B/D		B/D		B/D		B/D		B/D		B/D	Abs.	Chg	Abs.	Chg	Abs.	Chg
Non Performing Exposures (NPEs)	1,071	1.2%	1,174	1.3%	1,150	1.3%	1,011	1.1%	1,093	1.2%	1,057	1.1%	-36	-3.3%	-117	-10.0%	46	4.5%
Bad loans	183	0.2%	216	0.2%	247	0.3%	125	0.1%	149	0.2%	165	0.2%	16	10.3%	-51	-23.8%	40	31.8%
Unlikely to pay loans	739	0.8%	850	1.0%	805	0.9%	805	0.9%	866	1.0%	810	0.9%	-56	-6.5%	-40	-4.7%	5	0.6%
Past due loans	149	0.2%	108	0.1%	98	0.1%	81	0.1%	78	0.1%	82	0.1%	4	6.0%	-26	-23.7%	1	1.4%
Net performing loans	86,638	98.8%	87,788	98.7%	87,728	98.7%	89,125	98.9%	88,506	98.8%	91,644	98.9%	3,138	3.5%	3,856	4.4%	2,519	2.8%
Total net exposures	87,709	100.0%	88,962	100.0%	88,878	100.0%	90,136	100.0%	89,599	100.0%	92,701	100.0%	3,102	3.5%	3,739	4.2%	2,565	2.8%

Financial Assets: Highlights

Sources: managerial figures. (1) Nominal amounts.

Commercial dynamics: loans and deposits evolution

			Commercial loans by geography (€bn)								Commercial deposits by geography (€bn)
89.4	89.1	86.7	88.2	87.7	89.0	88.9	90.1	89.6	92.7	105.0	103.4	107.7	104.9	103.8	104.4	102.7	104.3	103.8	107.4
10.0%	10.0%	10.1%	10.5%	10.1%	10.1%	10.3%	10.5%	10.5%	10.5%	13.1%	13.2%	13.3%	13.5%	13.1%	13.4%	13.8%	13.7%	13.7%	13.7%
12.5%	12.4%	12.6%	12.5%	12.4%	12.3%	12.2%	12.1%	12.1%	11.8%	14.5%	14.5%	14.3%	14.7%	14.5%	14.7%	14.9%	14.8%	14.5%	14.5%
17.7%	17.4%	17.4%	17.4%	17.9%	17.9%	18.2%	18.4%	19.1%	20.1%	17.4%	17.4%	18.2%	16.5%	17.0%	16.8%	17.2%	16.8%	19.8%	20.7%
59.7%	60.2%	59.9%	59.6%	59.5%	59.8%	59.2%	59.0%	58.3%	57.6%	54.9%	54.9%	54.2%	55.3%	55.4%	55.1%	54.1%	54.7%	52.0%	51.1%
1Q23	2Q23	3Q23	4Q23	1Q24	2Q24	3Q24	4Q24	1Q25	2Q25	1Q23	2Q23	3Q23	4Q23	1Q24	2Q24	3Q24	4Q24	1Q25	2Q25
	Northern Italy		Centre		Southern Italy		Islands & Foreign countries				Northern Italy		Centre		Southern Italy			Islands & Foreign countries

ESG focus

Environmental

• 100% use of electricity from renewable sources
• About €1.5 bn of new ESG Lending in 1H25
• €1 bn of two Green Bonds issued in 2024
• Member of Net-Zero Banking Alliance – published NZBA targets for most significant sectors

Social

• Implementation of the BPER's "Bene Comune" Service supporting Third Sector entities and Impact lending
• Top Employer Italia 2025
• IDEM Gender equality certification
• UNI/PDR 125:2022 Gender equality certification
• Member of Principles for Responsible Banking – set PRB targets for financial inclusion

Governance

• Included by S&P Global in the "Sustainability Yearbook 2025"
• Included in the MIB ESG Index
• Included in FTSE4Good Index
• Weight of ESG KPIs: 20% for LTI and 15% for MBO – Strategic scorecard
• D&I: 40% women in the BoD
• D&I: implementation of a 3Y operational plan for D&I enhancement

TOP ESG RATING(1)
-------------------	--

Bank	Rating
BPER Banca	12.7 (low risk)
Peer 1	9.5 (negligible Risk)
Peer 2	12.8 (low risk)
Peer 3	13.2 (low risk)
Peer 4	21.4 (medium risk)

	Bank	Rating
	BPER Banca	EE+ (pos. outlook)
	Peer 1	EE
	Peer 2	EE+
	Peer 3	EE+
	Peer 4	EE+

37

Dummy figures Contacts for Investors and Financial Analysts

Nicola Sponghi Head of Investor Relations nicola.sponghi@bper.it

Maria Accarrino Investor Relations maria.accarrino@bper.it

Federico Febbraro Investor Relations federico.febbraro@bper.it Chiara Leonelli Investor Relations chiara.leonelli@bper.it

Ilaria Picelli Investor Relations ilaria.picelli@bper.it

Sara Viglietti Investor Relations sara.viglietti@bper.it

BPER Head Office: Via San Carlo 8/20, Modena

Investor.relations@bper.it bper.it – group.bper.it