Group Financial Results H1 2016

Conservative provisioning policy - Increasing coverage levels Coverage ratio improvement of 12 p.p³ driven by over €1,3 bn additional cumulative provisions since Dec-14 Quarterly Provisions for impairment of customer loans¹ (€ mn) 110 90+ DPD coverage ratio NPEs provision coverage Adjusted NPEs provision coverage 2 12 p.p³ increase in 90+DPD coverage ratio 48% 53% 49% 48% 42% 43% 41% 41% 45%- 39% 39% 38% 38% 39% 39% 38% 38% 630 35% 36% 35% 35% 35% 33% 34% 34% 229 122 169 109 219 110 123 96 62 96 Dec 13 Mar 14 Jun 14 Sept 14 Dec 14 Mar 15 Jun 15 Sept 15 Dec 15 Mar 16 Jun 16 Cost of risk4 Cost of Risk Cyprus Cost of Risk - Group 4,3% 3,6% 4,0% 2,1% 2,2% 2,1% 2,4% 1,7% 1,5% 1,6% Accumulated provisions of 23,1% of Gross Loans Accumulated provisions (€ bn) Provisions % Gross loans 24,1% 21,6% 22,2% 22,5% 23,2% 23,1% 19,3% 20,0% 21,6% 1.4% 1,3% 1,1% 4,9 4,9 5,1 5,4 5,4 4,9 5,4 5,1 4,9 FY2014 1Q2015 1H2015 9M2015 FY2015 1Q2016 1H2016 (1) Jun Sep Dec 2014 2014 Mar Jun Sep 2014 (2) (3) p.p. percentage points Provisions for impairment of customer loans and gains/(losses) on derecognition of loans and changes in expected cash flows Adjusted NPEs provision coverage excludes NPEs with forbearance measures, no impairments and no arrears. 2015 2015 2015 Dec Mar 2015 Jun 2016 2016 (4) Provisions for impairment of customer loans and gains/(losses) on derecognition of loans and changes in expected cash flows on acquired loans over average gross loans Bank of Cyprus 5 KOINO KYMPI

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