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FINECO

May 7th 2026

1Q26 Results

Disclaimer

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"Pursuant to the paragraph 2 of Article 154 bis of the Consolidated Law on Financial Intermediation (Legislative Decree no. 58 of February 24, 1998), Erick Vecchi, in his capacity as manager responsible for the preparation of FinecoBank S.p.A.'s (the "Company")'s financial reports, declares that accounting information contained in this Presentation reflects the Company's documented results, books and accounting records".
This Presentation may contain written and oral "forward-looking statements", which include all statements that do not relate solely to historical or current facts and which are therefore inherently uncertain. All forward-looking statements rely on a number of assumptions, expectations, objectives, estimates, forecasts, projections and provisional data concerning future events and are subject to a number of uncertainties and other factors, many of which are outside the control of the Company. There are a variety of factors that may cause actual results and performance to be materially different from the explicit or implicit express or implied contents of any forward-looking statements and thus, therefore, such forward-looking statements are not a reliable indicator of future performance. The Company undertakes no obligation to publicly update 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. The information and opinions contained in this Presentation are provided as at the date hereof and are subject to change without notice. Information, opinions, valuations and forecasts contained in this Presentation have not been audited by any independent body. Neither this Presentation nor any part of it nor the fact of its distribution may form the basis of, or be relied on or in connection with, any contract or investment decision.
The information, statements and opinions contained in this Presentation are for information purposes only and do not constitute a public offer under any applicable legislation or an offer to sell or solicitation of an offer to purchase or subscribe for securities or financial instruments or any advice or recommendation with respect to such securities or other financial instruments. None of the securities referred to herein have been, or will be, registered under the U.S. Securities Act of 1933, as amended, or the securities laws of any state or other jurisdiction of the United States or in Australia, Canada or Japan or in any other jurisdiction where such an offer or solicitation would be unlawful (the "Other Countries"), and there will be no public offer of any such securities in the United States or in the Other Countries. This Presentation does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States or in the Other Countries.
This Presentation has been prepared on a voluntary basis and, therefore, FinecoBank the Company is not bound to prepare similar presentations in the future, unless where provided by law. No guarantee, express or implicit implied, is given by the Company with reference to the reliability, accuracy or completeness of information or opinions contained in this Presentation. Neither the Company nor any of its representatives, directors or employees shall be liable, at any time, in connection with this Presentation or any of its contents for any indirect or incidental damages including, but not limited to, loss of profits or loss of opportunity, or any other liability whatsoever which may arise in connection of any use and/or reliance placed on it.
For the above-mentioned purposes, "Presentation" means this document, and any oral presentation, any question-and-answer session and any written or oral material discussed following the distribution of this document. Information and any content of this Presentation are the exclusive property of the Company and the partial or total publication, duplication and/or transmission of the same are forbidden without the prior written consent of the Company. By participating to this Presentation and accepting a copy of this Presentation, you agree to be bound by the foregoing limitations regarding the information disclosed in this Presentation.

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Agenda

Section 1: Fineco Financial Results 04
Section 2: Commercial Results 12
Section 3: Next Steps 19
Section 4: Key Messages 25

e-Marketing for Europe
4

Section 1: Fineco Financial Results

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by eil

Executive summary: quickly moving towards our next growth cycle

The Disruptor advantage: winning the long-term game thanks to a unique positioning

Strong net profit and operating leverage

1Q26 Net Profit: 162.2 mln, stable y/y despite higher tax rate
1Q26 Revenues: 342.9 mln (+4.1% y/y) supported by positive contribution of all product areas (Investing +8.0% y/y, Brokerage +5.2% y/y, Banking +1.9% y/y)
Operating Costs: well under control at -95.1 mln, +9.0% y/y (+5.2% y/y excluding additional costs for growth(1))
Strong operating leverage: C/I ratio at 27.7%

Solid capital and liquidity position

CET1: 23.34%; Leverage Ratio: 5.14%
LCR: 976% (2); NSFR: 412%

Material step-up in net sales and new clients

1Q26 Net sales: 4.6 bn (+43.8% y/y). April Net Sales: at ~1.3 bn (+6% y/y) o/w deposits at ~690 mln (~150 mln in Apr.25), AUM at ~320 mln (+7% y/y) and AUC at ~320 mln. Estimated Brokerage revenues: ~22 mln
1Q26 New clients: 65k (+17.6% y/y). April: 17.5k (+16% y/y)

2026 guidance: upgraded outlook

Upgraded outlook for 2026 and 2029 Plan, driven by combination of: 1) better than expected net sales and clients' growth; 2) very strong brokerage, expected to further grow; 3) higher interest rates environment.

2026: all product areas to positively contribute to the revenue growth

Net financial income: growing thanks to positive deposit net sales and rates
Investing: solid year on year increase of AUM net sales
Brokerage revenues: expected another record year
Banking fees: expected stable

Costs: expected growth of around 6% y/y, not including ~10 mln additional costs for growth initiatives and ~5 mln for pan-EU platform set-up

(1) Excluding costs strictly related to the growth of the business, mainly marketing (-1.9 mln y/y), A.I. (-0.7 mln y/y) and FAM (-0.6 mln y/y)

(2) Avg 12 months

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Delivering strong Net Profit in every market condition

Results supported by sound acceleration of Investing and Brokerage. Strong operating leverage confirmed

mln	1Q25	1Q26	1Q26/1Q25
Net Financial Income	161.3	163.0	1.0%
Net Non Financial Income	167.7	180.6	7.7%
Net Other expenses/income	0.2	-0.7	n.s.
Total revenues	329.3	342.9	4.1%
Staff expenses	-36.4	-39.3	8.0%
Other admin.expenses net of recoveries	-44.4	-48.8	10.0%
D&A	-6.5	-7.0	7.6%
Operating expenses	-87.2	-95.1	9.0%
Gross operating profit	242.0	247.8	2.4%
Other charges and provisions	-3.8	-4.9	29.0%
LLP	-0.9	-1.4	64.6%
Net income from investments	-1.0	-0.3	n.s.
Profit before taxes	236.4	241.1	3.0%
Income taxes	-72.2	-73.9	9.3%
Net profit	164.2	162.2	-1.2%
ROE (1)		24%
Cost/Income		28%

Revenues: all product areas contributing

Net Financial Income: +1.0% y/y
Net Non-Financial Income: +7.7% y/y driven by Investing (+8.1% y/y thanks to volumes effect and FAM) and Brokerage (+6.6% y/y driven by higher AUC)

Costs: operating leverage and costs for growth

y/y increase due to additional costs for business growth (Marketing expenses, FAM, A.I.).

Net of these, 1Q26: +5.2% y/y (2)

(1) ROE is calculated as adj.net profit divided by EOP book equity for the period (excl. valuation reserves)

(2) Excluding costs strictly related to the growth of the business, mainly marketing (-1.9 mln y/y), A.I. (-0.7 mln y/y) and FAM (-0.6 mln y/y)

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our average

volume

Net Financial Income: growth ahead driven by valuable deposits

Supported by our clients' transactional liquidity

Net Financial Income

A quality, industrially driven NII

Sticky transactional deposits with cost of funding close to zero
→ Even a small banking-only client is profitable

Deposits net sales: solid underlying dynamics despite huge clients' investments

bn, €

	1Q25	1Q26
Salary/Pensions	+4.8	+5.2
Net bank transfers	+3.8	+4.6
	+8.6	+9.7
Expenses	-5.8	-6.1
	+2.8	+3.7
AUM/AUC	-3.3	-3.9
Total	-0.6	-0.2

+32% y/y

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Investing: solid growth aligned with long-term trends

Thanks to demand for explicit fee solutions and increasing FAM contribution

Investing revenues

mIn, €

Avg AUM (on daily basis, bn)

66.9

72.5

74.9

Investing fees q/q due to usual 1Q seasonality:

on PFA costs (FIRR and Enasarco)
FAM (2025 operating efficiencies booked in 4Q25)
Fewer calendar days in 1Q26

Details on slide 36

Sustainable revenues

0% perf fees and only 2% upfront fees

AUM: growth aligned with structural trends

bn, €

FAM: key to sustain AUM margins

bn, €

FAM retail / FBK AUM

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The eEurop

normox

Brokerage: a new structural growth under way

Fineco the platform of choice for stronger retail engagement trend

An higher floor of Brokerage revenues...

...driven by a structurally higher stock of AUC

Initiatives to unlock significant potential from AUC: details on slides 21/22

Launch of Securities Lending platform
ETFs on self-direct clients
Auto-FX
Cryptooffer: in talks with Regulators
Pan-EU platform
Launch by end of 2026/ beginning 2027

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Lending, a high-quality business

Offered exclusively to the existing base of clients

Commercial Loans Portfolio (gross)

Cost of Risk on commercial loans (2)

Cost of Risk
NPE ratio(3)
9 bps
0.53%
No Corporate Loans

NPE at 28 mln with a coverage ratio at 82%
LLP equal to -1.4 mln in 1Q26

(1) Current accounts/overdraft Include Lombard loans

(2) Cost of Risk: commercial LLP of the last 12 months on average last 12 months commercial Loans

(3) NPE ratio: Non Performing Exposures on Commercial Loans Portfolio over the Commercial Loans Portfolio

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our average

company

Rock-solid capital and liquidity ratios

Well above requirements

		Mar.25	Dec.25	Mar.26	Current Requirements	(€/bn)	Mar.25	Dec.25	Mar.26
CAPITAL	CET1 Ratio	23.99%	23.30%	23.34%	8.66%	CET1 Capital	1.34	1.45	1.47
	Total Capital Ratio	32.94%	31.37%	31.27%	13.03%	Tier1 Capital	1.84	1.95	1.97
	Leverage Ratio	5.34%	5.07%	5.14%	3.00%	Total Capital	1.84	1.95	1.97
LIQUIDITY	LCR (1)	888%	958%	976%	100%	RWA	5.59	6.20	6.30
	NSFR	390%	418%	412%	100%	o/w credit	2.80	3.05	3.14
	HQLA/Deposits (1)	78%	80%	79%		o/w market	0.10	0.17	0.17
MREL	MREL LRE	7.66%	7.15%	7.22%	5.25%	o/w operational	2.69	2.99	2.99
	MREL TREA	47.19%	44.23%	43.93%	22.19%	HQLA (1)	22.12	24.06	24.51

(1) Avg 12 months, in line with Pillar 3 disclosure

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The European
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SECURITY
INVESTMENT
REPORT

Section 2: Commercial results

F
12

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A unique positioning for a long-term growth story

Italian households TFA: addressable market (1)

FINECO

The Established Disruptor: a structural winner in a quickly changing market

(1) Estimate based on Bankit figures. Addressable market includes deposits, administered and managed assets; it excludes stakes in non-listed enterprises and TFR. 3Q25 latest available figure

emorket

our average

volume

Fineco, long term sustainability for our AUM fee structure

Fineco: a clear outlier

A unique market positioning based on Efficiency, Transparency and Convenience

Fair & transparent pricing
No performance fees
Negligible upfront fees

→ Leading to a sustainable growth fully aligned with clients' interest and long term trends

% of Active Funds charging Performance Fees
(by country of domicile) (1)

Certificates issued
on primary market (bn, €) (2)
A clear sign of sizable upfront fees charged

(1) Source: Morningstar, European Fund Fee Study 2025

(2) Source: ACEPI, Associazione Italiana Certificati e Prodotti di Investimento. (https://acepi.it/it/content/mercato-primario-2006-2025)

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our average
comms

1 Fineco at an inflection point

A material step-up in our growth trajectory
bn, €

Thd, #
New clients

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Outperforming in young and PB clients

Under 35

above 35 years
under 35 years

New clients

(by headcount)

Private Banking

Improving the quality of our client base

€ bn, TFA

>500k
100-500k

50-100k
<50k

Client segmentation

Higher avg TFA per client

FY21
76k
→
FY25
89k

Avg age

Total clients: 50
- New clients: 38

Private clients: 63
- New clients: 55

emarket: elbr storage
CENTRE
A

Net Sales and Total Clients evolution

Fineco: a sizable step-up in our growth

Total Net Sales

Total Clients

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Net Sales and client acquisition evolution

Fineco: a sizable step-up in our growth

Total Net Sales – Organic / Recruit

New PFAs recruited in the year

Network - headcount	2,918	2,962	3,002	3,076	3,117
Senior recruited (#)	86	70	78	88	29
Junior recruited (#)	128	71	99	100	38

PFAs recruited over the last 24 months

10.3	8.8	10.1	13.4	4.6
10%	13%	12%	9%	6%
90%	87%	88%	91%	94%
2022	2023	2024	2025	1Q26

No change in our recruiting policy
Organic net sales the main engine of our growth
Structural increase in the spontaneous interest to join Fineco
Perfect partner for professionals looking to grow in a sustainable way

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Section 3: Next steps

F
19

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2026 Guidance: upgraded outlook

Revenues

2026: all business areas to positively contribute to the revenue growth thanks to the acceleration of structural trends

Net financial income: growing thanks to positive deposit net sales and rates increase
Investing: solid year on year increase of AUM net sales
Brokerage revenues: expected to remain strong with a continuously growing floor thanks to higher AUC and active investors. We expect another record year
Banking fees: expected stable

Costs and provisions

Operating costs: expected growth of around 6% y/y, not including few millions of additional costs for growth initiatives (~10 mln, mainly: AI, marketing, FAM) and ~5 mln for pan-EU platform set-up costs
Cost / income: comfortably below 30% thanks to the scalability of our platform and strong operating gearing
Cost of risk: in a range 5-10 bps

Capital

Payout & capital ratios: we expect a payout ratio in a range 70/80%. On Leverage Ratio our target is to remain above 4.5%

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The European
Institute

Unlocking AUC potential: focus on initiatives

Securities Lending platform

Launch in June New Platform

A market-place to provide access to our high quality & growing AUC

Creating a connection with several institutional players (prime brokerage desks, hedge funds, asset managers, market makers...)
High quality AUC: very granular, geographically diversified and retail-based AUC (Hard to Borrow). ETFs very well on demand

Auto-FX

Live

All our client base can now also use Auto-FX

Automated FX switch:

a leaner customer experience with no FX risk
more profitable for the Bank

Systematic Internaliser/ Market maker

Live

Positioning towards a quote-driven market evolution:

Growing volumes internalization thanks to the growth of our business
Internalize the vast majority of asset classes (listed and non-listed)
Issuer/market maker of wide range of products (i.e. CFDs, certificates, ETFs)
Key for the launch of the pan-EU platform

Strong upside potential to brokerage revenues

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ETF: a new revenues engine for Brokerage and Investing

A fast-accelerating shift underneath the surface of the Italian Wealth Management industry

A new revenues engine

A portion of ETF revenues is included in the revenues from the Systematic Internaliser (slide 21)

Several drivers to further monetize ETFs

Brokerage

Brokerage fees led by strong turnover
Securities lending opportunity
Internalization opportunity
Platform fee by end of 1H26

Investing

Advanced advisory solutions: big volume game ahead
FAM: active ETFs, co-branding on passive plain vanilla
Accumulation plan now in AUM

ETFs Stock

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Fineco pan-European platform

Launch by end 2026/early 2027

Our vertically integrated brokerage key to launch a multi-country platform

Strong operating leverage & very low fixed costs

Leveraging our Italian IT infrastructure
Limited fixed-costs. Variable costs linked to business results
EU passporting leveraging on the Italian banking license

A distinctive proposition

Established Disruptor: a Trusted & Significant Bank, with a state-of-the-art user experience
Disruptive offering with a top-quality customer experience, enabling rapid international penetration

☑ Medium term expected ROE higher vs current Fineco

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our average
sample

Deploying AI across the platform

AI Assistant for PFA

Already live
- Fully integrated with Fineco platform and data to manage clients and advisor teams
- Clustering clients and prospects for new campaigns and events
- Alerts and agenda to identify priority actions

Already live
- Building quality portfolios. Reporting and proposals
- Diagnosis for prospects
- Performance and TER comparison
- New Builder enhancement: clients' portfolio analysis and optimization

Portfolio Builder
- PFA Chatbot
- Processes, internal documents and products

AI native APPs

App for clients	Design phase	App for PFAs
• Data-driven personalized upselling
• A step-change in usability and simplification		• AI and commercial tools onto a dedicated PFAs App

+ Brokerage Copilot

A new AI-driven user experience

Family&Friends phase
- Screening securities
- Based on fundamentals and technical analysis
- Compare with more securities
- Conversational chat

Portfolio analysis

Simulation of portfolio evolution
Newsflow related to the portfolio

Smart market news based on clients' interests

AI- queryable
News tagged with market sentiment

AI upgraded onboarding

AI-first Onboarding

Already live
- A leaner onboarding process to lower attrition rate

AI for prospects

Already live
- Increased prospect interaction via chat
- Chats mostly managed by AI

F
24

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for Europe
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+

Section 4: Key Messages

F
25

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our product
service

Fineco - Built to win

10+ years listed: delivering value to all stakeholders

Market share gained. Quality uncompromised. Stakeholders' interests aligned.

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our average
number
of
100

Fineco, a track record of healthy and sustainable growth

A healthy & solid commercial trajectory...

Clients (thd, #)

TFA (bn, €)

...translated in quality & growing results thanks to our scalable operating platform

10 Figures adjusted by non-recurring items and Net Profit adjusted net of systemic charges

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service

Fineco: all business areas to sustain revenue growth

Strong acceleration in client growth to drive higher revenue contribution across our diversified model

Banking

High quality NII thanks to sticky transactional liquidity
Cost of funding close to 0

Investing

Quality and Future-proof revenues thanks to Recurring ManFees
Transparent approach (advisory solutions) & increasing FAM penetration

Brokerage

AUC growth leading to a structurally higher correlation with revenues over time
More efficient value chain thanks to our new initiatives

(1) Figures adjusted by non recurring items

Net Profit
(CAGR, quarterly basis, adjusted) (1), mln

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emorke®
a company of
e

Technology — The Engine behind Fineco scalability

A proven platform, a clear plan, and the conviction to execute it

Track record

99.9%+
Availability

~6%
IT Cost / Revenue vs 11.6% avg

<< 1bps
Op. losses from tech, cyber & fraud

1.8M
Customers served

~430M
Digital accesses/yr

The next phase demands more: new markets, AI at enterprise scale, a platform that must grow without growing costs.
We have the foundations, the architecture, and the team to deliver.

MYP targets 2026–2029

| TCO stable, volumes up

Full stack control drives cost discipline — tech cost grows slower than revenue and customers | AI in core processes

From foundation to enterprise-scale integration — driving revenue and efficiency across the bank | Pan-European expansion

European launch with minimal incremental tech cost — platform already built to replicate |
| --- | --- | --- |

Investor message: Fineco's technology platform delivers top-tier efficiency today — and is architected to scale profitably across the Multi-Year Plan.

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Our Sustainability commitment

Combining business growth and financial strength with the principles of sustainability, in order to create long-term value for all Stakeholders

Best-in-class governance framework and strong responsible finance practices to sustain a low-risk business model and drive relentless improvement in the Group's reputation

Strengthening Responsible Finance

Enhancement of financial education
Promotion of responsible trading
Development of ESG products and services
Upskill of ESG know-how of PFAs

Spreading sustainability culture

Empowerment of gender equality and diversity
Promotion of a culture of sustainability for the stakeholders and the community

Strengthening governance best practices

Improvement of best practices through third-party certification
Maintain a low cyber and ICT risk level

Environmental commitment and supply chain oversight

2050 Net Zero Targets and EMAS certification
Improvement of the environmental and social oversight across the supply chain

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Annex

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ISO 9001:2008

P&L reclassified

mln	1Q25	2Q25	3Q25	4Q25	FY25	1Q26
Net Financial Income	161.3	153.7	156.6	161.4	633.1	163.0
Net Non Financial Income	167.7	162.7	168.2	186.1	684.7	180.6
Net Other expenses/income	0.2	-1.3	0.5	-0.7	-1.3	-0.7
Total revenues	329.3	315.1	325.3	346.9	1316.5	342.9
Staff expenses	-36.4	-37.4	-37.7	-39.0	-150.5	-39.3
Other admin.exp. net of recoveries	-44.4	-41.5	-42.1	-50.1	-178.0	-48.8
D&A	-6.5	-7.0	-7.0	-7.2	-27.7	-7.0
Operating expenses	-87.2	-85.9	-86.8	-96.3	-356.3	-95.1
Gross operating profit	242.0	229.2	238.5	250.5	960.2	247.8
Other charges and provisions	-3.8	-3.9	-3.4	-8.2	-19.4	-4.9
LLP	-0.9	-1.7	-1.2	-0.9	-4.7	-1.4
Net income from investments	-1.0	-0.1	0.2	0.1	-0.7	-0.3
Profit before taxes	236.4	223.5	234.1	241.5	935.5	241.1
Income taxes	-72.2	-69.9	-71.4	-75.0	-288.5	-78.9
Net profit for the period	164.2	153.6	162.7	166.5	647.0	162.2

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.1

1Q26 P&L FinecoBank and Fineco Asset Management

mln	Fineco Asset Management	FinecoBank Individual	FinecoBank Consolidated
Net Financial Income	0.1	162.9	163.0
Net Non Financial Income	47.2	133.5	180.6
o/w Dividends	0.0	0.0	0.0
Net other expenses/income	-0.5	-0.2	-0.7
Total revenues	46.8	296.2	342.9
Staff expenses	-4.0	-35.3	-39.3
Other admin.exp. net of recoveries	-2.6	-46.2	-48.8
D&A	-0.1	-6.9	-7.0
Operating expenses	-6.8	-88.4	-95.1
Gross operating profit	40.0	207.8	247.8
Other charges and provisions	0.0	-4.9	-4.9
LLP	0.0	-1.4	-1.4
Net income from investments	0.0	-0.3	-0.3
Profit before taxes	40.0	201.1	241.1
Income taxes	-6.1	-72.8	-78.9
Net profit for the period	33.9	128.3	162.2

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1 Details on Net Interest Income

mln	1Q25	Volumes & Margins	2Q25	Volumes & Margins	3Q25	Volumes & Margins	4Q25	Volumes & Margins	FY25	Volumes & Margins	1Q26	Volumes & Margins
Financial Investments	106.7	26,768	105.4	27,511	110.2	28,603	114.9	29,259	437.2	28,035	117.7	29,656
Net Margin		1.62%		1.54%		1.53%		1.56%		1.56%		1.61%
Gross margin	119.2	1.81%	115.9	1.69%	118.9	1.65%	122.0	1.65%	476.0	1.70%	123.6	1.69%
Leverage - Long	4.1	146	3.1	113	3.6	132	3.9	144	14.6	134	3.6	136
Net Margin		11.42%		10.89%		10.75%		10.73%		10.95%		10.72%
Tax Credit	9.2	1,216	8.2	992	7.3	814	6.8	813	31.6	959	6.1	773
Net Margin		3.08%		3.31%		3.58%		3.32%		3.29%		3.22%
Lending	41.5	4,783	38.2	4,809	35.6	4,822	36.2	4,913	151.4	4,832	36.1	4,937
Net Margin		3.52%		3.18%		2.93%		2.93%		3.13%		2.96%
Other	-0.3		-0.2		0.5		-0.4		-0.3		-0.3
Total	161.2		154.6		157.3		161.4		634.5		163.2
Gross Margin		2.14%		1.98%		1.91%		1.91%		1.98%		1.94%
Cost of Deposits		-0.15%		-0.13%		-0.10%		-0.08%		-0.11%		-0.07%
3M EUR (avg)		2.56%		2.11%		2.01%		2.04%		2.18%		2.05%

Volumes and margins: average of the period

Net margin calculated on real interest income and expenses

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<1>

Focus on Bond portfolio

Low risk driven by sticky transactional liquidity

A safe and diversified Bond Portfolio

A diversified blend of EU govies, supranational and agencies

o/w 75% at fixed rate, avg yield: 172 bps
o/w 25% at floating rate (swapped), avg spread: 18 bps on 3m Eur

2.1 years
Avg duration (1)

3.1 years
Avg maturity

Bond portfolio run-offs: a clear opportunity by reinvestment yields

Fixed rate bonds
Floating and swapped bonds (3)
Avg yield of fixed rate bonds, bps
Avg spread vs EUR 3M of floating and swapped bonds, bps (4)

(1) "Other" includes: 1.7bn France, 1.1bn Austria, 0.9bn Belgium, 0.8bn Ireland, 0.7bn USA, 0.3bn Portugal, 0.2bn Germany, 0.2bn Chile, 0.2bn China, 0.1bn Saudi Arabia, 0.1bn other

(2) Sovereign Supranational Agencies and Local Authority

(3) Calculated considering hedging bonds

(4) Almost the entire bond portfolio not at fixed rate is swapped

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our average
economy
.e1

Net Commissions by product area

mln	4Q24	1Q25	2Q25	3Q25	4Q25	FY25	1Q26
Banking	12.9	11.1	11.4	12.1	15.3	50.0	12.5
Brokerage	29.6	37.1	31.2	31.1	38.2	137.5	40.4
o/w
Equity	24.2	28.5	24.8	26.2	29.2	108.7	31.9
Bond	2.4	5.8	3.6	1.8	6.5	17.6	5.6
Derivatives	2.9	3.1	2.7	2.3	2.6	10.7	3.0
Other commissions	0.1	-0.2	0.1	0.7	-0.1	0.5	-0.2
Investing	99.9	94.9	97.9	104.0	108.5	405.3	102.5
o/w
Placement fees	1.7	2.3	2.5	2.8	2.2	9.8	2.0
Management fees	113.3	114.9	114.4	120.5	125.1	474.8	124.9
to PFA's: incentives	-9.3	-8.6	-8.7	-9.4	-11.5	-38.2	-9.3
to PFA's: LTI	-0.6	-0.5	-0.6	-0.6	0.1	-1.6	-0.7
Other PFA costs	-8.5	-13.3	-9.7	-9.3	-9.8	-42.1	-14.5
Other commissions	3.4	0.0	0.0	0.0	2.5	2.5	0.0
Other (Corporate Center)	-2.6	-2.7	-2.7	-2.7	-2.7	-10.9	-2.7
Total	139.9	140.4	137.8	144.4	159.3	581.9	152.6

Managerial Data

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our energy
business

Revenues breakdown by product area

mln	1Q25	2Q25	3Q25	4Q25	FY25	1Q26
Net Financial Income	151.9	145.2	146.7	152.0	595.8	154.0
Non Financial Income	10.8	11.1	12.3	15.8	50.0	12.3
Other	0.1	-0.3	0.0	-0.4	-0.5	-0.5
Total Banking	162.8	156.0	159.0	167.4	645.2	165.8
Net interest income	4.5	3.2	3.8	4.3	15.9	3.9
Non Financial Income	64.4	56.2	54.7	64.6	239.9	68.7
Other	0.0	0.0	0.0	0.0	0.0	0.0
Total Brokerage	69.0	59.5	58.5	68.8	255.8	72.6
Net interest income	0.0	0.0	0.0	0.0	0.0	0.0
Non Financial Income	94.9	97.9	104.0	108.5	405.3	102.5
Other	-0.4	-0.5	-0.3	-0.4	-1.6	-0.5
Total Investing	94.5	97.4	103.7	108.1	403.7	102.0

% on total revenues for each product area

Managerial Data. Revenues attributable to single each product area, generated by products / services offered to customers according to the link between products and product area. Banking includes revenues generated by deposits, treasury and credit products. Investing includes revenues generated by asset under management products; Brokerage includes revenues from trading activity.

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Breakdown Total Financial Assets

mln	Mar.25	Jun.25	Sep.25	Dec.25	Mar.26
AUM	66,319	68,606	71,237	74,041	73,873
Funds and Sicav	45,596	47,513	49,782	51,814	51,693
Insurance	12,744	12,610	12,511	12,493	12,289
AUC under advisory	7,482	7,967	8,355	9,114	9,264
Other	497	516	590	620	627
AUC	46,817	49,196	52,489	54,828	56,721
Equity	15,972	17,089	18,509	19,046	18,746
Bond	21,649	21,979	22,594	23,382	24,647
ETF	8,907	9,893	11,222	12,269	13,211
Other	289	235	164	132	117
Direct Deposits	29,119	30,013	30,849	31,682	31,508
Total	142,255	147,614	154,575	160,552	162,101
o/w TFA FAM retail	25,353	26,520	27,735	29,077	29,125
o/w TFA Private Banking	68,743	72,581	77,580	81,434	81,247
o/w Advanced Advisory Service	34,498	35,944	37,552	39,547	39,465

2025 stock of AUM and AUC have been recasted to move FAM's ETFs into the "Other" AUM line (previously accounted into AUC and "AUC under advisory")

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air storage
demand
s.1

TFA and Net Sales evolution

Breakdown of Total Financial Assets

Breakdown of Total Net Sales

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emarket: the emarket
company

Fineco: a safe, liquid and diversified Balance Sheet

Balance Sheet

37.4 bn
Assets

Financial Assets (1)
Loans to customers
Due from Banks (2)
Other

Liabilities

Due to customers
Other liabilities
Equity

$\varnothing$ Transactional liquidity: Cost of funding close to 0

Driven by our clients' valuable transactional liquidity and not by lending (no costs and provisions due to NPL)

412% NSFR

Selective Lending

Ancillary business offered only to our well-known base of retail clients
No corporate lending

Low risk bond portfolio

Diversified blend of EU govies, Supranational and Agencies

(1) Financial assets as reported in the Balance Sheet include the variation in the fair value of hedged bonds for the portion attributable to the risk hedged with the derivative instrument

(2) Due from banks includes 1.5bn cash deposited at Bank of Italy and 0.2bn bank current accounts as of Mar.26

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emorket
European
network

Balance Sheet details

mln	Mar.25	Jun.25	Sep.25	Dec.25	Mar.26
Due from Banks (*)	2,188	2,023	2,531	2,276	2,254
Loans to Customers	6,132	6,169	6,220	6,378	6,298
Financial Assets (*)	23,734	25,138	25,682	26,277	26,806
Tangible and Intangible Assets	269	268	267	276	275
Hedging instruments	510	453	442	440	475
Tax credit acquired	1,171	848	811	818	728
Other Assets (*)	417	460	422	832	610
Total Assets	34,421	35,359	36,375	37,296	37,446
Due to Customers	29,531	30,681	31,609	32,453	32,234
Due to Banks	893	860	851	850	1,099
Debt securities	801	805	809	811	802
Hedging instruments	30	44	30	24	7
Other Liabilities (*)	623	726	682	604	602
Equity	2,543	2,244	2,394	2,553	2,702
Total Liabilities and Equity	34,421	35,359	36,375	37,296	37,446

(*) Please note that the following item aggregations have been made with respect to the reclassified balance sheet:
1. Item "Due from Banks" = Loans to banks + Cash and Cash balances (excluding "Cash")
2. Item "Financial Assets" = Financial assets held for trading + Financial investments
3. Item "Other Assets" = Other Assets + Tax Assets + Cash
4. Item "Other liabilities" = Financial liabilities held for trading + Tax liabilities + Other liabilities

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Leverage Ratio Comfortably under control

Leverage Ratio Sensitivity: multi-year view

Starting point for simulations on multi-year view: LR on Dec.31st, 2025

LR >4.75%
4.5% <lr< 4.75%="" 2025="" 4.5%="" LR="" and="" as="" at="" before="" by="" car="" costs="" data="" delta="" e="" exposure="" for="" in="" total="" totaling="">

	0	150	300	400	450	500	550	600	650
-2,000		5.74%	6.13%	6.38%	6.51%	6.63%	6.76%	6.89%	7.01%
-1,500		5.66%	6.04%	6.29%	6.42%	6.55%	6.67%	6.80%	6.92%
-1,000		5.59%	5.96%	6.21%	6.34%	6.46%	6.58%	6.71%	6.83%
-500		5.51%	5.88%	6.13%	6.25%	6.38%	6.50%	6.62%	6.74%
0	5.07%	5.44%	5.81%	6.05%	6.17%	6.29%	6.41%	6.53%	6.65%
1,000		5.30%	5.66%	5.90%	6.02%	6.14%	6.25%	6.37%	6.49%
2,000		5.17%	5.52%	5.75%	5.87%	5.99%	6.10%	6.21%	6.33%
3,000		5.05%	5.39%	5.62%	5.73%	5.84%	5.95%	6.07%	6.18%
4,000		4.93%	5.26%	5.49%	5.60%	5.71%	5.82%	5.93%	6.03%
5,000		4.82%	5.14%	5.36%	5.47%	5.58%	5.68%	5.79%	5.90%
6,000		4.71%	5.03%	5.24%	5.35%	5.45%	5.56%	5.66%	5.77%
7,000		4.60%	4.92%	5.13%	5.23%	5.33%	5.44%	5.54%	5.64%
8,000		4.51%	4.81%	5.02%	5.12%	5.22%	5.32%	5.42%	5.52%
9,000		4.41%	4.71%	4.91%	5.01%	5.11%	5.21%	5.31%	5.41%
10,000		4.32%	4.61%	4.81%	4.91%	5.00%	5.10%	5.20%	5.30%
11,000		4.23%	4.52%	4.71%	4.81%	4.90%	5.00%	5.09%	5.19%
12,000		4.15%	4.43%	4.62%	4.71%	4.81%	4.90%	4.99%	5.09%
13,000		4.07%	4.35%	4.53%	4.62%	4.72%	4.81%	4.90%	4.99%
14,000		3.99%	4.26%	4.45%	4.54%	4.63%	4.72%	4.81%	4.90%
15,000		3.92%	4.18%	4.36%	4.45%	4.54%	4.63%	4.72%	4.81%

Capital Management: our priorities

Regulatory capital
Appropriate level of regulatory capital and Leverage Ratio
Business growth
Targeting investments to drive all options to accelerate our sustainable and organic long-term growth, continuing to keep cost discipline
Regular dividend
Distribute a regular and generous dividend: 70/80% payout ratio throughout the Plan horizon
Potential Capital surplus
We will evaluate the best way to return the potential excess capital to the market

42</lr<>

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our services
security

Funding – Fixed Income

Senior Preferred instruments

€300 mln Senior Preferred (6NC5) issued on February 16th, 2023 to have an additional buffer above the Fully Loaded MREL Requirement on LRE.

Annual coupon at 4.625% (5 years Mid Swap Rate plus 150 bps vs initial guidance of 175bps) for the first 5 years, floating rate between the fifth and sixth year
Public placement with a strong demand, 4x the offer
The instrument is rated BBB+ by S&P

€500 mln Senior Preferred (6NC5) issued on October 14th, 2021 to be immediately compliant with the Fully Loaded MREL Requirement on Leverage Ratio Exposure (LRE)

Annual coupon at 0.50% (5 years Mid Swap Rate plus 70 bps vs initial guidance of plus 100 bps) for the first 5 years, floating rate between the fifth and sixth year
Public placement with a strong demand, more than 4x the offer
The instrument is rated BBB+ by S&P

AT1 instrument

€500 mln perpetual AT1 issued on March 11th, 2024 to maintain the Leverage Ratio above 4.5%:

Coupon fixed at 7.5% (initial guidance at 8%) for the initial 5.5 years. First call date: September 11th, 2029 (reset spread 4.889%)
Public placement, with strong demand (7x, €3.45bn), listed in Euronext Dublin
Semi-annual coupon. Coupon (net of taxes) will impact directly Equity reserves
The instrument is rated BB by S&P

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EUROPEAN

e-1

ESG ratings, Indices and highlights

ESG ratings
Rating agency	Evaluation scale	As today
S&P Global	From 0 to 100	68
CDP	From D- to A	B
Sustainalytics	From 100 to 0	11.4 low risk
MSCI	From CCC to AAA	AA
Standard Ethics	From F to EEE	EEE- with Stable outlook

ESG Indices

S&P Global

5&P Global 1200 ESG index
S&P Global LargeMidCap ESG Index

standard ethics

Standard Ethics Italian Banks Index
Standard Ethics Italian Index

ESG offer and Bank's portfolio (1)

Funds SFDR classification:

81% on total no. ISIN (available in platform) ex Art. 8 and 9 SFDR

Lending:

€ 0.2 bn of stock of Green Mortgages and Loans

Treasury:

€ 2.8 bn of green, social and sustainable bonds
99.6% of bonds from issuers with Net-Zero emissions targets
€0.6bn of collateral switch ESG

(1)

Regulation EU 2019/2088 - Sustainable Finance Disclosure Regulation. ESG offer & Bank's portfolio data as of December
31^{\mathrm{th}}
, 2025. Figures on SFDR funds are calculated on the number of mutual funds available for subscription

AI assistant

FinecoBank — Interim / Quarterly Report 2026

4321_rns_2026-05-07_ad166550-ebdb-4068-a2e5-d112d326c04b.pdf

FINECO

1Q26 Results

Agenda

Section 1: Fineco Financial Results

Executive summary: quickly moving towards our next growth cycle

Strong net profit and operating leverage

Solid capital and liquidity position

Material step-up in net sales and new clients

2026 guidance: upgraded outlook

Delivering strong Net Profit in every market condition

Revenues: all product areas contributing

Costs: operating leverage and costs for growth

Net Financial Income: growth ahead driven by valuable deposits

Investing: solid growth aligned with long-term trends

Investing revenues

Sustainable revenues

AUM: growth aligned with structural trends

FAM: key to sustain AUM margins

Brokerage: a new structural growth under way

Initiatives to unlock significant potential from AUC: details on slides 21/22

Lending, a high-quality business

Cost of Risk on commercial loans (2)

Rock-solid capital and liquidity ratios

Section 2: Commercial results

A unique positioning for a long-term growth story

FINECO

Fineco, long term sustainability for our AUM fee structure

Fineco: a clear outlier

1

Fineco at an inflection point

Outperforming in young and PB clients

Under 35

New clients

Private Banking

Improving the quality of our client base

Avg age

Net Sales and Total Clients evolution

Net Sales and client acquisition evolution

Section 3: Next steps

2026 Guidance: upgraded outlook

Revenues

Costs and provisions

Capital

Unlocking AUC potential: focus on initiatives

Securities Lending platform

Auto-FX

Systematic Internaliser/ Market maker

ETF: a new revenues engine for Brokerage and Investing

A new revenues engine

Several drivers to further monetize ETFs

Brokerage

Investing

ETFs Stock

Fineco pan-European platform

Strong operating leverage & very low fixed costs

A distinctive proposition

Deploying AI across the platform

AI Assistant for PFA

AI native APPs

+ Brokerage Copilot

A new AI-driven user experience

Portfolio analysis

Smart market news based on clients' interests

AI upgraded onboarding

AI-first Onboarding

AI for prospects

Section 4: Key Messages

Fineco - Built to win

Fineco, a track record of healthy and sustainable growth

Fineco: all business areas to sustain revenue growth

Banking

Investing

Brokerage

Technology — The Engine behind Fineco scalability

Track record

MYP targets 2026–2029

Our Sustainability commitment

FinecoBank Interim / Quarterly Report 2026