Financial Strategy and Ecosystem Platform Expansion

Significant progress achieved on strategy announced in November 2020... Single digit NPE ratio achieved a year earlier Ⓒ Strengthened capital position CET1 ratio² NPE ratio 30.3% 25.2% <10% 7.5% Dec 19 Dec 20 Dec 211 Dec 22 Previous Guidance 15.8% 14.8% 14.8% ≥13% Dec 19 Dec 20 Dec 211 Previous MT Guidance Cost of Risk normalising post NPE sales II. C/I ratio³ increasing in the near term (as expected) before improving in the medium-term bps 112 118 c.70-80 57 FY2019 FY2020 FY2021 Previous MT Guidance 1) Pro forma for HFS 2) Allowing for IFRS 9 and temporary treatment for certain FVOCI instruments transitional arrangements 3) Excludes special levies and other contributions 59% C/I ratio³ 3 Total operating expenses 3 60% 60% Mid 50s% 385 340 347 <350 FY2019 FY2020 FY2021 Previous MT Guidance 32

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