#1Alpha Bank Q2 2023 Results Investor Presentation 9th August 2023#2Disclaimer This presentation has been prepared and issued by Alpha Services and Holdings S.A. and its 100% subsidiary, Alpha Bank S.A., solely for informational purposes. It is hereby noted that on 16.4.2021, the demerger of the credit institution under the former name "Alpha Bank S.A." (which has been already renamed "Alpha Services and Holdings S.A.") was completed by way of hive-down of the banking business sector with the incorporation of a new company - credit institution under the name "Alpha Bank S.A.". References to "Alpha Bank” shall be construed to be references to Alpha Services and Holdings S.A., except to the extent otherwise specified or the context otherwise required, i.e., references to the entity acting as a credit institution shall be deemed to refer to (i) the former Alpha Bank (already renamed Alpha Services and Holding S.A.) prior to 16.04.2021 and to (ii) the new "Alpha Bank S.A." on and after 16.04.2021. For the purposes of this disclaimer, this presentation shall mean and include materials, including and together with any oral commentary or presentation and any question and answer session. By attending a meeting at which the presentation is made, or otherwise viewing or accessing the presentation, whether live or recorded, you will be deemed to have agreed to the following restrictions and acknowledged that you understand the legal and regulatory sanctions attached to the misuse, disclosure or improper circulation of the presentation or any information contained herein. By reading this presentation, you agree to be bound by the following limitations: No representation or warranty, express or implied, is or will be made in relation to, and no responsibility is or will be accepted by Alpha Services and Holdings (or any member of its Group as to the accuracy, fairness, completeness, reliability or sufficiency of the information contained in this presentation and nothing in this presentation shall be deemed to constitute such a representation or warranty. The information contained in this presentation may contain and/or be based on information that has been derived from publicly available sources that have not been independently verified. Alpha Services and Holdings is not under any obligation to update, revise or supplement this presentation or any additional information or to remedy any inaccuracies in or omissions from this presentation. This presentation does not constitute an offer, invitation or recommendation to subscribe for or otherwise acquire securities. Also, it is not intended to be relied upon as advice to investors or potential investors and does not take into account the objectives, financial situation or needs of any particular investor. You are solely responsible for forming own opinion and conclusion. Certain statements in this presentation may be deemed to be "forward-looking". You should not place undue reliance on such forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they reflect current expectations and assumptions as to future events and circumstances that may not prove accurate. Forward-looking statements are not guarantees of future performance, and the actual results, performance, achievements or industry results of Alpha Services and Holdings and/or Alpha Bank's operations, results of operations, financial position and the development of the markets and the industry in which they operate or are likely to operate may differ materially from those described in, or suggested by, the forward-looking statements contained in this presentation. In addition, even if the operations, results of operations, financial position and the development of the markets and the industry in which Alpha Services and Holdings and Alpha Bank operate is consistent with the forward-looking statements contained in this document, those results or developments may not be indicative of results or developments in subsequent periods. A number of factors could cause results and developments to differ materially from those expressed or implied by the forward-looking statements including, without limitation, general economic and business conditions, competition, changes in banking regulation and currency fluctuations. Forward-looking statements may, and often do, differ materially from actual results. Any forward-looking statements in this document reflect Alpha Services and Holdings' current view with respect to future events and are subject to risks relating to future events and other risks, uncertainties and assumptions relating to Alpha Services and Holdings and/or Alpha Bank's financial position, operations, results of operations, growth, strategy and expectations. Any forward-looking statement speaks only as of the date on which it is made. New factors will emerge in the future, and it is not possible for Alpha Services and Holdings to predict which factors they will be. In addition, Alpha Services and Holdings cannot assess the impact of each factor on its business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those described in any forward looking statements. Alpha Services and Holdings disclaims any obligation to update any forward-looking statements contained herein, except as required pursuant to applicable law. About Alpha Services and Holdings Alpha Services and Holdings S.A. (under the distinctive title Alpha Services and Holdings) is a financial holdings company, listed on the Athens Stock Exchange, and the parent company of the banking institution "ALPHA BANK S.A.". Subsequent to the corporate transformation that took place in April 2021, the banking operations were hived-down to a new wholly owned banking subsidiary (Alpha Bank S.A.). Alpha Bank S.A. is 100% subsidiary of Alpha Services and Holdings S.A. and one of the leading Groups of the financial sector in Greece which was founded in 1879 by J.F. Costopoulos. The Bank offers a wide range of high- quality financial products and services, including retail banking, SMEs and corporate banking, asset management and private banking, the distribution of insurance products, investment banking, brokerage and real estate management. https://www.alphaholdings.gr/en/investor-relations 2 ALPHA SERVICES AND HOLDINGS#3大 Alpha Bank • Business Update Financial Performance Analysis Pages 3 10 • Appendix ■ Macroeconomic Update 28 32 ◉ P&L Volumes 36 Asset Quality 47 ■ Capital 52 ◉ ESG 56 ☐ Segmental Information 61 3 ALPHA SERVICES AND HOLDINGS#4The trusted relationship bank of Greece Our Identity and Strengths... ...are reflected in our customer proposition Privately owned since inception with a mindset to deliver shareholder value and inspire trust Clients perceive Alpha Bank as more reliable, stable, humane and accessible We are renowned for quality and professionalism among banking customers This is reflected in our market positioning 1: Relationship excellence Relied upon for our financial expertise, quality of advice and focus on responsible banking 'One team' - inclusive and respectful culture with high level of employee engagement 1| Based on FY 2022 data Leader in high value segments Strong positioning in Greece #1 in Wholesale Lending #1 Private Bank in Greece #1 in Credit Cards and loyalty program Net Promoter Score for #1 in Mutual Funds >50 Private Banking and Affluent customers #1 in key sectors (Shipping and Hospitality / Tourism) >20 years Median tenure of Affluent and Wholesale customers #1 in virtual cards supporting financial state aid initiatives 4 ALPHA SERVICES AND HOLDINGS#5We are well on track to achieve our business plan ambitions H1 2023 Performance Profitability · +4% q/q net interest income . +10% q/q fees . • 44.2% cost-income ratio, -15pp H1/H1 76bp cost of risk Balance sheet +3% y/y performing loans +7% y/y deposits 176% LCR Capital . +144bp CET1% ytd • +280bp CAD% ytd +355bp MREL% ytd Return on Tangible Equity1 12.2% in H1 2023; 13.2% in Q2 EPS2 €0.15 H1 2023, +75% vs H1 2022 Total CET1 Generated €0.4bn in H1 2023 €1bn of total regulatory capital equivalent ✓ Dividend payment 15bp³ accrual in H1 2023 ✓ Tangible Equity €6.1bn in H1 2023, +€0.3bn ytd ト Key financial targets Return on Tangible Equity¹ >12% in 2025 EPS² growth >20% CAGR 2022 – 2025 Total CET1 Generated €2.3bn cumulative 2023 - 2025 ✓ Dividend payment resumption from 2023 profits³ ✓ Tangible Equity > €7bn in 2025 1| Based on normalized profit after tax over average Tangible Equity; Calculated after deduction of AT1 coupon payments; Adjusted excluding capital above management target, 2| Earnings per share; 2023 - 2025 figures are calculated after deduction of AT1 coupon payments; Based on normalized profit after tax, 3| Subject to regulatory approval and the fulfilment of business plan targets 5 ALPHA SERVICES AND HOLDINGS#6Our six strategic priorities for 2025 1 2 3 4 5 6 Boost digital and focus on high-value segments in Retail ¿ Revamp service model to increase penetration in Wealth 213 Consolidate leadership in Wholesale Improve return on deployed capital in International Maintain the resilience of our balance sheet Leverage ESG for value creation c. (16 p.p.) Cost-Income Ratio 2022 2025 decrease +13% Asset management balances1 2022 2025 CAGR c.4% +15% Total Revenues 2022 2025 CAGR Total Revenues 2022 2025 CAGR Maximize the potential of our People Elevate digital services and data capabilities c.4% NPE Ratio In 2025 €3bn Sustainable Disbursements³ 2023-2025 1| Includes Mutual Funds, Managed Institutional Accounts, Direct investments in Fixed Income and Equities, 2| Return on FL CET1 employed capital at 13% management target, 3| Refers to gross disbursements 6 ALPHA SERVICES AND HOLDINGS#7Focus on Retail Boost digital and focus on high-value segments KEY ACHIEVEMENTS New service model roll-out underway • new branch structure announced • c50 branches with new customer access model 2/3 of KYC processes online (vs 1/3 in H1 2022) 40% RMs as % of branch staff Alpha Retail captured c1/3 of market inflows to wealth business year to date Emerging affluent strategy operationalized Currently >300 RMS with client books • Already >10% of wealth sales (x6 vs 2022 levels) KYC activity evolution per channel (in # clients m) Launch of Service Migration Initiative 0.5 +29% 0.4 51% 32% 68% 49% H2 2022 H1 2023 Digital KYC Branch KYC 7 ALPHA SERVICES AND HOLDINGS#8Focus on Balance sheet resilience Capital buffers expanding, NPE plan de-risk, liquidity strengthened KEY ACHIEVEMENTS Step change in regulatory capital • CET above 13% management target • 116bp organic CET1 capital generation in H1 €0.6bn buffer to 2024 MREL requirement Stress test result better vs 2021 and EU peers NPE plan de-risked as €3bn of NPE transactions previously Held For Sale were completed Liquidity levels strengthened • Cash & cash equivalent at 30% of deposits +€1bn of regulatory capital equivalent in H1 MREL well above interim non-binding targets. 24% 18.0% 14.9% 4.4% +3.1% €0.6bn 22% 3.0% 11.9% 13.6% CAD 20% CET1 FY 22 Q2 23 2023 2024 requirement requirement H1 23 Improvement in Stress Test Capital Depletion vs 2021 vs EU peers 152bp Majority of securities book growth in HQLAS¹ Stronger liquidity profile 330bp Liquidity Coverage Ratio 176% +15pp ytd N et S table Funding Ratio 127% +3pp ytd 1 High-Quality Liquid Assets 8 ALPHA SERVICES AND HOLDINGS#9Uplift in business units' profitability and reallocation of capital driving improvement in Group returns Business Unit ROCET11 Retail Wholesale ³ 3 Wealth & Treasury4 International NPAs 5 & Other 10% FY 22 H1 23 24% 21% 18% 20% 31% 11% 30% (19%) (22%) Group 16.5% 12.2% (4.3%) 9.5% ROCET1 ROCET1 % of Group RWA FY 22 H1 23 18% 19% 43% 43% 11% 13% 9% 10% 19% 14% Deferred Tax Assets (DTAs) 1| Return on FL CET1 employed capital at 13% management target as presented in the Investor Day, 3| 2022 calculated over normalized Cost of Risk, i.e excluding reversals, 4| 2022 Normalized for one-off trading gains, 5| Non- Performing Assets, 6| Based on normalized profit after tax over average Tangible Equity; Calculated after deduction of AT1 coupon payments; Adjusted excluding capital above management target ROTE H1 23 6 9 ALPHA SERVICES AND HOLDINGS#10大 Alpha Bank Pages • Business Update 3 · Financial Performance Analysis 10 Appendix ■ Macroeconomic Update 28 32 ◉ P&L Volumes 36 Asset Quality 47 ■ Capital 52 ◉ ESG 56 ☐ Segmental Information 61 10 ALPHA SERVICES AND HOLDINGS#11Q2 2023 Group Profit & Loss Profit & Loss (€ mn) Reported Profit After Tax H1 23 H1 22 y/y Q2 23 Q1 23 q/q +63% +72% €191mn Net Interest Income 864 582 49% 440 424 4% Net fee and commission Income 185 204 (9%) 97 88 10% €117mn €111mn €93mn Trading & Other Income 66 144 (54%) 42 24 73% €63mn Operating Income 1,115 930 20% 579 536 8% Recurring Operating Expenses Extraordinary Mostly comprised of VSS costs (474) (486) (3%) (50) 3 (240) (233) 3% Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 (12) (38) (70%) Total Operating Expenses Core Pre Provision Income (524) (484) 8% (252) (272) (7%) 598 335 79% 310 288 8% Normalised Profit After Tax² Pre Provision Income 591 446 33% 327 264 24% +179% Impairment Losses (145) (131) 11% (73) (72) 2% +20% €195mn €162mn Profit/ (Loss) before income tax 436 312 40% 251 185 36% Income Tax (115) (79) 45% (65) (50) 29% €105mn €94mn Impact from NPA transactions¹, (18) 6 5 (23) €70mn discontinued operations & other Reported Profit/ (Loss) after income tax Normalised Profit After Tax² 303 239 27% 191 111 72% 357 201 78% 195 162 20% Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 1| Q2 2023 includes €5mn impact from NPA transactions. 2| Normalised Profit After Tax of €195mn in Q2 2023, is Reported Profit /(Loss) After Tax of €191mn excluding (a) non-recurring Operating Expenses of €12mn, (b) NPA transactions impact of €5mn and €3m tax charge related to the above. Normalised profits of 2022 and 2021 are not comparable due to initiation of a new normalised profits policy since 1.1.2022. 11 ALPHA SERVICES AND HOLDINGS#12Q2 2023 Group Balance Sheet Balance Sheet (€ bn) Jun-23 Mar-23 Jun-22 9/9 Tangible Book Value Group, € mn +7% Assets Securities 72.9 73.7 75.8 (0.8) 5.9 15.5 14.7 12.4 0.9 5.8 5.7 5.7 Cash & Cash Balances 6.6 8.3 11.6 (1.7) Net Loans ECB balances Deposits 38.7 38.2 38.1 0.5 5.0 9.0 13.0 (4.0) 51.8 50.2 48.5 1.6 +4% 6.1 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 CET1 (Fully loaded) Group, € bn +10% Tangible Equity 6.1 5.9 5.7 0.2 +4% 4.3 CET1 ratio (Fully loaded)1 13.6% 12.8% 11.7% Total Capital ratio (Fully loaded)1 18.0% 17.1% 14.7% 4.2 4.0 4.0 3.9 NPE ratio 7.6% 7.6% 8.2% Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 NPE Cash Coverage 40% 40% 40% 1| Pro-forma for remaining RWA relief of transactions 12 ALPHA SERVICES AND HOLDINGS#13Top line benefitting from rates, Cost of Risk at 76bps Net Interest Income Group, € mn Net fee and commission income 440 424 396 42 42 337 37 301 32 33 Group, € mn 98 97 97 92 88 1 0 13: 0 - 359 382 398 86 304 268 Q2 22 Q3 22 Q4 22 NPE Net Interest Income Recurring operating expenses Group, € mn 257 ·0 Q1 23 Q2 23 Other Net Interest Income Q2 22 92 92 96 96 97 88 Q3 22 Q4 22 Q1 23 Q2 23 Net fee and commission income Merchant Acquiring Cost of Risk¹ Єmn & bps over net loans 94bps 93bps 242 240 75bps 76bps 257 0 61bps 89 90 9 233 231 0 240 72 73 233 58 233: 231 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Merchant Acquiring 1❘ Includes underlying impairments and servicing fees Recurring Operating Expenses Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 13 ALPHA SERVICES AND HOLDINGS#14Loans repricing in line with expectations; total deposit beta at 13% Interest Income / Interest Expense breakdown¹ Group, € mn Performing Corporate loan spreads² Greece, % +46% +3% 440 42 o/w -25% 428 42 74 392 63 63 from NPE transactions pending completion 37 333 50 301 32 Non Performing Loans 33 Bonds 31 39 475 431 362 294 Performing Loans 262 Deposits (15)9) (15)17) (31) (47) (27) (77) Funding & Other (61) (73) Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 3.55% 3.49% Alpha Bank Peer avg 3.20% 3.14% 3.07% 3.05% Peer 1 Peer 2 Peer 3 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Deposit beta Q2 20232 Greece, % 18% 13% 13% 11% 9% Alpha Bank Peer avg Peer 1 Peer 2 Peer 3 1| Q3, Q4 and Q1 seasonally adjusted based on Q2 day-count 2| As published, Peer 2 loan spreads exclude Shipping, Peer 3 loan spreads calculated as published yield minus average 3M Euribor. Deposit beta refers to total cost of deposits in Greece versus 3M Euribor 14 ALPHA SERVICES AND HOLDINGS#15Fees up 10% q/q on higher levels of activity Group Segments 98 86 97 97 98 97 92 13 212 1 29 29 88 0 92 88 88 88 30 30 35 35 31 26 33 33 29 29 26 25 12 14 16 25 25 55 25 27 50 30 15 14 15 15 14 27 27 30 31 30 30 27 24 97 33 33 29 29 20 20 18 22 22 21 24 21 17 19 20 18 15 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 10 11 11 11 11 0-2- 0-2 0 3 0-3 -0-3- Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Merchant Acquiring Asset management Business credit related Bancassurance Cards & Payments Other Retail Wholesale Wealth & Treasury NPAs International Other 15 ALPHA SERVICES AND HOLDINGS#16Recurring costs up 3% q/q on track to deliver yearly targets Group Segments 257 257 242 0 240 231 233 242 240 0 231 233 0 0 95 113 95 93 33 96 96 95 95 110 101 99 9 101 38 122 98 100 39 37 40 104 97 22 32 33 34 21 24 21 20 48 43 44 48 49 49 45 45 39 38 39 40 42 23 23 26 21 22 6 7 9 11 14 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Merchant acquiring Staff costs General Administrative expenses Depreciation & Amortization Retail Wholesale Wealth & Treasury International NPAs Other 16 ALPHA SERVICES AND HOLDINGS#17Performing loans up 3% y/y driven by Wholesale and International Performing loan book expansion Group, € bn Net credit expansion Greece, € bn +3% +2% +0.1% +1% (1%) 31.4 31.4 31.5 0.2 31.1 30.6 0.5 0.1 0.1 0.7 0.1 0.1 4.0 4.1 4.2 0.1 4.2 4.0 0.1 2.2 Disbursements 1.8 1.9 1.9 1.6 7.6 7.6 7.6 7.6 7.8 (1.0) (1.3) (1.7) (0.2), (2.0) (1.9) 19.7 19.7 18.9 19.3 19.8 (0.2) Repayments (0.2) (0.2) (0.2) (0.4) Jun-22 Sep-22 Dec-22 Mar-23 Jun-23 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 o/w 0.13 syndication International Greece Individuals Greece Businesses Businesses Individuals 17 ALPHA SERVICES AND HOLDINGS#18Deposits +7% y/y boosting liquidity; mix shift better than expected Deposits evolution Group, € bn Mix towards Time deposits Greece, € bn YOY +€3.3bn QoQ €1.6bn 44.6 45.0 45.8 44.5 43.1 1% 1% 2% 2% State 1% 50.2 0.4 0.9 0.2 51.8 13% 16% 48.5 Time 14% 20% 23% 6.0 5.7 International 5.4 44.5 45.8 Greece 43.1 Jun-22 Mar-23 Individual Business International Jun-23 Asset Management evolution Group, € bn 86% Core 85% 83% 13.1 78% 75% 12.1 1.4 (1.2) -0.6 0.8. 10.2 0.7 Managed Accounts 0.6 4.9 4.4 Equities 3.8 2.7 2.6 Fixed Income 1.8 Mutual funds 3.9 4.4 4.7 Jun-22 Mar-23 Additions Redemptions Valuation and other Jun-23 Jun-22 Sep-22 Dec-22 Mar-23 Jun-23 18 ALPHA SERVICES AND HOLDINGS#19RETAIL Uplift in profitability as deposit beta remains subdued Key figures (in Єmm) H123 H122 Adifference, % Net loans 9,014 9,260 (3%) Deposits 33,347 30,984 8% REVENUES / PROFITABILITY Total revenues 371 251 48% Recurring Operating (200) (211) (5%) expenses Normalised Profit 98 11 Allocated CET1 @ 13% 810 855 (5%) Cost Income ratio 56% 85% (34%) ROCET1 ratio 1 24% 3% 85% 33% Contribution to Group Revenues, H123 28% Contribution to Group recurring profits², H1'23 VOLUMES + €120mn Revenues (H1/H1) + €87mn Profits³ (H1/H1) + €0.7bn Deposits (YTD) + €0.8bn Disbursements (YTD) COST/INCOME 56% H1 22 H1 23 11 Return on FL CET1 employed capital at 13% management target. 21 Includes profit after tax from Performing Assets; Based on Normalised profit after tax. 31 Based on Normalised profit after tax ROCET11 3% +21p.p 24% H1 22 H1 23 19 ALPHA SERVICES AND HOLDINGS#20WHOLESALE Volumes affected by repayments; Profitability expands Key figures (in Єmm) H123 H1322 Adifference, % Net loans 18,170 17,790 2% Deposits 8,471 7,942 7% REVENUES / PROFITABILITY VOLUMES + €32mn Revenues (H1/H1) + €26mn Profits³ (H1/H1) (€0.2bn) Deposits (YTD) +€0.1bn4 Net Loans (YTD) Total revenues 355 324 10% Recurring Operating (67) (75) (12%) expenses Normalised Profit 200 174 15% COST/INCOME Allocated CET1 @ 13% 1,797 1,907 (6%) Cost Income ratio 19% 24% (19%) ROCET1 ratio 1 21% 20% 10% 24% 19% 32% Contribution to Group Revenues, H123 56% Contribution to Group recurring profits², H1'23 H1 22 H1 23 ROCET11 +1p.p. 20% 21% H1 22 H1 23 11 Return on FL CET1 employed capital at 13% management target. 21 Includes profit after tax from Performing Assets; Based on Normalised profit after tax. 31 Based on Normalised profit after tax 41 Excluding intragroup loan repayment 20 ALPHA SERVICES AND HOLDINGS#21WEALTH & TREASURY AuMs and Securities +€2bn; Recurring revenues replace trading gains Key figures (in Єmm) H123 H122 Adifference, % Assets under 13,103 10,152 29% Management Securities 15,502 12,395 25% REVENUES / PROFITABILITY VOLUMES + €2mn Revenues (H1/H1) + €39mn Profits³ (H1/H1) + €2.1bn AUMS (YTD) + €2.0bn Securities (YTD) Total revenues 164 162 1% Recurring Operating (46) (41) 10% expenses Normalised Profit 78 39 98% COST/INCOME Allocated CET1 @13% 535 543 (1%) Cost Income ratio 30% 55% (46%) ROCET1 ratio 1 31% 13% 55% 15% Contribution to Group Revenues, H1’23 Contribution to 22% Group recurring profits², H1'23 ROCET11 30% 13% H1 22 H1 23 11 Return on FL CET1 employed capital at 13% management target. 21 Includes profit after tax from Performing Assets; Based on Normalised profit after tax. 31 Based on Normalised profit after tax +18p.p. 31% H1 22 H1 23 21 ALPHA SERVICES AND HOLDINGS#22INTERNATIONAL Loan growth at 6%; top line benefiting from excess liquidity Key figures (in Єmm) H123 H1322 Adifference, % Net loans 4,238 3,992 6% Deposits 5,956 5,394 10% REVENUES / PROFITABILITY VOLUMES + 53€mn Revenues (H1/H1) +0.2€bn Deposits (YTD) + 39€mn Total revenues 160 108 49% Recurring Operating Profits³ (H1/H1) (94) (89) 5% expenses Normalised Profit 61 21 COST/INCOME Allocated CET1 @ 13% 419 490 (15%) Cost Income ratio 61% 87% (30%) ROCET1 ratio 1 30% 8% 87% 61% 14% Contribution to Group Revenues, H1’23 17% Contribution to Group recurring profits², H1'23 H1 22 H1 23 11 Return on FL CET1 employed capital at 13% management target. 21 Includes profit after tax from Performing Assets; Based on Normalised profit after tax. 31 Based on Normalised profit after tax +0.1€bn Net Loans (YTD) ROCET11 8% +22p.p 30% H1 22 H1 23 22 ALPHA SERVICES AND HOLDINGS#23NPAs and Other operations Non Performing Assets (NPAs) Other (in Єmm) Net loans Assets H123 H122 Adifference, % (in Єmm) H123 H122 Adifference, % 2,212 2,436 (9%) Assets 4,066 4,158 (2%) 3,945 5,088 (22%) TBV 843 748 13% Total revenues ..... 54 72 (25%) Total revenues 9 13 (31%) Recurring Operating Recurring Operating (43) (53) (19%) (25) (14) 76% expenses expenses Normalised Profit (67) (53) 27% Allocated CET1 @ 13% 472 650 (27%) Normalised Profit Allocated CET1 @13% (13) 10 187 230 (19%) ROCET1 ratio 1 (31%) (23%) 35% ROCET1 ratio 1 (15%) 12% 5% Contribution to Group Revenues, H1’23 (19%) Contribution to Group recurring profits², H1'23 1% Contribution to Group Revenues, H123 (4%) Contribution to Group recurring profits², H1'23 11 Return on FL CET1 employed capital at 13% management target. 21 Includes profit after tax from Performing Assets; Based on Normalised profit after tax. 31 Based on Normalised profit after tax 23 ALPHA SERVICES AND HOLDINGS#24Asset Quality environment remains benign NPE formation Greece, € bn 0.0 (0.0) (0.1) (0.2) 0.0 Cost of Risk bps (over net loans) 94 93 15 16 75 61 14 735 76 13 20 74 71 56 55 0.1 Mainly single case 35 0.35 Q2 22 Q3 22 0.30 0.24 Servicing fees Q4 22 Securitization expenses Q1 23 Q2 23 Underlying 0.18 0.18 Inflows NPE and Coverage % NPE Coverage NPE ratio Group 41% (0.20) (0.24) (0.25) (0.22) (0.28) Cures & repayments 40% 39% 40% 40% 8.2% 8.0% Closing (0.04) Procedures 7.8% (0.07) (0.06) (0.14) 7.6% 7.6% & write offs (0.10) Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Jun-22 Sep-22 Dec-22 Mar-23 Jun-23 Note: Gross formation including curings, repayments, liquidations and debt forgiveness 24 ALPHA SERVICES AND HOLDINGS#25Organic capital generation at 0.7% in Q2; +c20bp to come from remaining performing loan securitizations Fully Loaded CET1 q/q % 12.3% 0.3% 0.6% (0.1%) (0.1%) 0.7% Organic Capital Generation I 0.0% 0.6% 13.5% 13.4% 13.6% Mar-23 Q2 23 organic PnL DTA DTC RWAs Other capital elements Transactions Jun-23 Jun-23 post Jun-23 dividend accrual of Remaining RWA relief Fully Loaded RWAs q/q % -€1.47bn 33.9 0.2 32.5 (0.4) 3.1 (1.2) (0.1) 0.0 3.1 (0.5) Credit 0.5. 30.3 (0.7) 0.4: Market Operational 29.0 Mar-23 NPE transactions Synthetic securitisation Credit 1| Pro-forma for remaining RWA relief from NPA transactions including mainly Skyline, Solar and Leasing Market Operational Jun-23 Remaining RWA relief securitisations Synthetic 25 ALPHA SERVICES AND HOLDINGS#26Ahead of requirements with capital buffers expanding 13.6% 11.9% 0.6% 1.5% CCYB 9.9% P2R 1.7% O-S II/ 1.0% 13.6% 2.5% CCB Pillar 1 4.5% 18.0% 14.9% 14.7% 0.8% 2.0% 14.9% 24.3% 22.4% 24.3% 22.4% 18.0% 2023 CET1 Required H1 2023 CET1 2023 T1 Required H1 2023 T1 2023 OCR H1 2023 CAD 2024 non-binding MREL target H1 2023 MREL 1| Pro-forma for remaining RWA relief from NPA transactions including mainly Skyline, Solar and Leasing 26 ALPHA SERVICES AND HOLDINGS#27Summary of Financial Targets Previous guidance H1 2022 2023 Current guidance As per Investor Day 2023 2025 2023 Total Revenues (€ bn) 2.0 1.1 c.2.1 > 2.2 c.2.3 Cost-Income Ratio 55% 44% <47% <45% C. 40% Cost of Risk 76bps 76bps < 85bps c. 80bps < 70bps ROTE1 7.5% 12.2% c. 10% > 11% > 12% EPS² (€) 0.18 0.15 > 0.25 > 0.29 > 0.3 Tangible Equity (€ bn) 5.8 6.1 > 6 > 6.2 >7 FL CET1 Ratio 12.5%³ 13.6%³ c. 13.5%3 c. 14%3 c. 16% 1| Return on Tangible Equity; Based on normalized profit after tax over average Tangible Equity; 2023 and 2025 figures are calculated after deduction of AT1 coupon payments; Adjusted excluding capital above management target, 2| Earnings per share; 2023 - 2025 figures are calculated after deduction of AT1 coupon payments; Based on normalized profit after tax, 3| Pro-forma for remaining RWA relief from NPA transactions including Hermes, Sky, Skyline, Solar, Leasing and AT1 issuance 27 ALPHA SERVICES AND HOLDINGS#28大 Alpha Bank Pages · Business Update 3 • Financial Performance Analysis 10 • Appendix ☐ Macroeconomic Update 28 32 ◉ P&L Volumes 36 Asset Quality 47 ■ Capital 52 56 ◉ ESG ☐ Segmental Information 61 28 ALPHA SERVICES AND HOLDINGS#29-0.5 Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Jul-21 Improved market sentiment and solid growth dynamics GGB spreads and ASE index improve; one notch below investment grade Economic activity and business sentiment 17.5 75 3.0 1600 15.0 70 12.5 1400 2.5 Fitch: BB+ 65 10.0 1200 7.5 60 2.0 5.0 55 S&P: BB+ 1000 2.5 1.5 0.0 50 800 -2.5 45 1.0 -5.0 600 40 -7.5 S&P: BB -10.0 0.5 35 400 -12.5 30 0.0 00 -15.0 200 -17.5 25 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 -10-year Greek Government Bond spread vs. German 10-year Greek Government Bond spread vs. Italian ASE general index, rhs Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23 Jul-23 Aug-23 Sources: Eurostat, S&P Global, Bloomberg, European Central Bank, European Commission, Alpha Bank Research calculations 0 2019-Q1 2019-Q2 2019-Q3 2019-Q4 2020-Q1 2020-Q2 2020-Q3 2020-Q4 2021-Q1 2021-Q2 2021-Q3 2021-Q4 2022-Q1 2022-Q2 2022-Q3 2022-Q4 2023-Q1 2023-Q2 GDP (yoy)- Euro area ESI*- Greece, rhs GDP (yoy)- Greece PMI**- Euro area, rhs ESI*- Euro area, rhs PMI** Greece, rhs (*) rescaled in order to have the same mean and standard deviation as the PMI, quarterly average (**) quarterly average 29 ALPHA SERVICES AND HOLDINGS#3015.0 12.5 10.0 7.5 5.0 2.5 0.0 -2.5 -5.0 Inflationary pressures recede mainly due to declining energy prices whereas consumers' price expectations de-escalate Progressive de-escalation of headline inflation Consumers' price expectations over the next 12 months Jan-19 Mar-19 May-19 Jul-19 Sep-19 Nov-19 Jan-20 Mar-20 May-20 Jul-20 Sep-20 Nov-20 Jan-21 Mar-21 May-21 Jul-21 Sep-21 Nov-21 Jan-22 Mar-22 May-22 Jul-22 Sep-22 Nov-22 Jan-23 Mar-23 May-23 Jul-23 HICP* Energy (yoy) - Greece, rhs -Core inflation** (yoy) - Greece (*) July 2023 figures: Eurostat's flash estimate (**) Overall index excluding energy and unprocessed food Sources: Eurostat, European Commission ▪HICP* (yoy) - Greece HICP* (yoy) - Euro area 70 75 60 60 50 50 25 25 50 50 40 30 232 20 -25 -10 -20 Jul-20 0 10 Sep-20 Nov-20 Jan-21 Mar-21 May-21 Jul-21 Sep-21 Nov-21 Jan-22 Mar-22 Euro area May-22 Jul-22 Sep-22 Nov-22 Greece Jan-23 Mar-23 May-23 Jul-23 30 ALPHA SERVICES AND HOLDINGS#31Real estate prices on a steep rise Residential real estate prices remained on an upward trajectory in Q1 2023 16% 12% 8% 4% 0% -4% -8% -12% ||||||||\ | || ||||\ | || ||||\ | || ||||\ | || ||||\ | || ||||\ | || ||||\ | || ||||VI 2014 2015 2016 2017 2018 2019 2020 2021 Residential real estate price index (2007-100), rhs Residential real estate price index (% annual change) Sources: Bank of Greece, 2022 provisional figures. 2022 2023 Commercial real estate prices continued to rise in 2022 10% 100 8% 00 6% 90 4% 60 80 2% 0% 70 70 -2% -4% 60 60 -6% 50 -8% 50 40 40 -10% -12% -14% 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Office Price Index, annual growth (%) Retail Price Index, annual growth (%) 31 ALPHA SERVICES AND HOLDINGS#32大 Alpha Bank · Business Update • Financial Performance Analysis Pages 3 10 • Appendix Macroeconomic Update 28 32 ☐ P&L Volumes 36 Asset Quality 47 ■ Capital 52 56 ◉ ESG ☐ Segmental Information 61 32 ALPHA SERVICES AND HOLDINGS#33Loan and deposit spreads Net loan balances & spreads € bn Deposit mix & cost evolution bps, € bn 220 275 131 359 333 320 313 309 (38) 17 % Total 48.5 50.1 50.8 50.2 51.8 9.1 9.0 10.4 13.0 14.8 29% 38.9 38.7 38.7 38.1 38.2 End of quarter balances 39.4 41.1 40.4 37.2 71% 37.0 Q2'22 Q3'22 Q4'22 Q1' 23 Q2' 23 Q2'22 Q3'22 Group Loans Spread Net Loans Lending spreads (Greece and SEE) Group Deposits Spread Deposit spreads (Greece and SEE) Q4'22 Q1' 23 Q2' 23 Time Deposits Core Deposits bps Consumer Credit 845 821 Small Business Loans 751 SEE Loans 707 666 Large Corporates Mortgages 448 414 365 374 364 346 324 312 300 -308 351 323 309. -O 307 315 226 218 215 214 216 Q2'22 Q3'22 Q4'22 Q1' 23 Q2' 23 Note: Lending Spreads are revised backwards and recalculated on interest bearing loan balances vs. net balances before. bps O 315 234 195-234 147 83 92 170 164 135 28 3 (36) 10 (48) Q2'22 Q3'22 Q4'22 Q1' 23 Q2' 23 SE Europe Sight & Savings -- Time Deposits 33 ALPHA SERVICES AND HOLDINGS#34Operating Expenses Group, € mn Q2 23 Q1 23 qoq % Recurring Operating Expenses evolution €mn 257 Staff costs (94.7) (96.2) (1.6%) 242 231 233 240 General Administrative (103.6) (96.9) 7.0% 95 expenses 95 93 96 95 Staff costs Depreciation and (42.1) (40.2) 4.7% General amortisation Administrative 108 122 Recurring Operating 100 97 104 expenses (240.4) (233.3) 3.0% Expenses Extraordinary costs (11.5) (38.4) (70.0%) Total Operating Expenses (252.0) (271.8) (7.3%) Employees Greece 8,147 7,354 7,503 5,925 5,939 5,923 5,950 5,940 5,958 5,761 Depreciation 39 38 39 40 42 & amortisation Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Branches Greece 443 394 336 313 299 287 285 284 280 273 VSS Gr -523 VSS Gr Albania -410 -836 Cepal -818 11,314 VSS Gr -550 10,530 10,528 629 581 520 465 8,529 8,512 8,476 8,486 8,460 8,447 8,228 451 439 437 431 426 419 Dec Dec Dec Dec Mar Jun 2018 2019 2020 2021 2022 2022 Sep 2022 Dec Mar Jun Dec 2022 2023 2023 2018 Dec Dec Dec 2019 2020 2021 Mar Jun Sep Dec Mar Jun 2022 2022 2022 2022 2023 2023 1| Includes corporate and private banking centers. 2| including sabbaticals 34 ALPHA SERVICES AND HOLDINGS#35Alpha Bank Group (€ mn) 909% yoy% Q2 2023 Q1 2023 Q4 2022 Q3 2022 Q2 2022 change change Net interest income 440.1 423.6 396.0 336.9 300.5 3.9% 46.4% Net fee and commission income 97.1 87.9 97.2 92.1 98.4 10.5% (1.3%) Income from financial operations 28.9 14.3 7.5 62.6 4.4 Other Income 13.0 9.9 9.8 25.5 19.0 31.1% (31.3%) Operating Income 579.1 535.8 510.4 517.0 422.3 8.1% 37.1% Staff costs (94.7) (96.2) (95.4) (93.0) (95.2) (1.6%) (0.5%) General administrative expenses (103.6) (96.9) (122.4) (100.5) (107.9) 7.0% (4.0%) Depreciation and amortization (42.1) (40.2) (39.4) (37.9) (38.9) 4.7% 8.2% Recurring Operating expenses (240.4) (233.3) (257.3) (231.4) (242.0) 3.0% (0.6%) Extraordinary costs (11.5) (38.4) (16.1) 4.7 (6.1) (70.0%) 88.0% Total Operating expenses (252.0) (271.8) (273.4) (226.7) (248.1) (7.3%) 1.6% Impairment losses on loans (73.4) (71.9) (89.9) (58.4) (89.3) 2.2% (17.7%) Other impairment losses (2.9) (7.2) (0.5) (3.0) (1.0) (59.8%) Profit/ (Loss) before income tax 250.8 184.9 146.6 229.1 84.0 35.7% Income Tax (64.6) (50.2) (52.9) (84.6) (19.3) 28.6% Profit (Loss) after income tax from continuing operations 186.2 134.6 93.7 144.4 64.7 38.3% Impact from NPA transactions 5.2 (23.5) (36.4) (77.3) (166.6) Galaxy & Cepal deconsolidation impact 0.0 0.0 0.0 0.0 0.0 Profit/ (Loss) after income tax from discontinued operations 0.0 0.0 4.5 3.7 217.1 Profit (Loss) after Income Tax 191.4 111.2 61.8 70.8 115.2 72.2% 66.1% Net interest Margin (NIM) 2.40% 2.23% 2.04% 1.76% 1.61% 35 ALPHA SERVICES AND HOLDINGS#36大 Alpha Bank Pages · Business Update 3 • Financial Performance Analysis 10 • Appendix Macroeconomic Update 28 32 P&L Volumes 36 ◉ Asset Quality 47 ■ Capital 52 ◉ ESG 56 ☐ Segmental Information 61 36 ALPHA SERVICES AND HOLDINGS#37Balance sheet composition Asset split € bn Liabilities and Equity split € bn 73.7 73.7 72.9 72.9 5.0 ECB Cash 8.3 Cash 6.6 9.0 ECB Due to Banks 2.4 Due from Banks 1.2 Due from Banks 1.6. Due to Banks excl. ECB 1.6 excl. ECB Time Time 14.8 Securities 14.7 Securities 15.5 13.0 Deposits Deposits Net Loans 38.2 Net Loans 38.7 50.2 Core 37.2 Deposits 51.8 37.0 Core Deposits Debt Debt 2.9 PPE 0.5 PPE 0.5 2.5 securities securities DTA 5.2 DTA 5.1 6.8 Equity 7.0 Equity Other (incl. HFS) 5.7 Mar-23 Other (incl. HFS) 4.9 3.7 Other 3.9 Other Jun-23 Mar-23 Jun-23 37 ALPHA SERVICES AND HOLDINGS#38New disbursements in Q2 2023 Performing loans Greece, € bn New disbursements - per category Greece, € mn Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Beginning of period 24.8 25.8 26.7 27.4 27.3 26.9 21 ៩ន Q1 Q2 Q3 = Q4 Q1 21 21 21 22 ៩ន Q2 Q3 Q4 Q1 22 22 ៩ន Q2 22 23 23 Disbursements 2.4 1.9 2.0 2.3 1.7 2.0 Individuals 60 122 107 133 109 146 118 149 114 112 Repayments (1.4) (1.2) (1.5) (2.1) (2.1) (1.9) Business 1,055 1,049 1,431 1,452 2,252 1,766 1,861 2,174 1,614 1,887 PEs in portfolio sales 0.0 0.0 0.0 0.0 0.0 0.0 Net Flows to/from NPE 0.0 (0.1) (0.1) 0.0 0.0 (0.1) Total 1,115 1,171 1,537 1,585 2,360 1,912 1,979 2,323 1,728 1,999 Other Movements 0.0 0.2 0.2 (0.2) 0.0 0.4 End of period 25.8 26.7 27.4 27.3 26.9 27.3 Net Credit Expansion 1.0 0.7 0.5 0.2 (0.4) 0.1 €0.2bn Businesses - €0.1bn Individuals 38 ALPHA SERVICES AND HOLDINGS#39Breakdown of loans portfolio - June 2023 Total Group loans - per segment € bn Consumer loans Small Business loans 4% 5% Credit Cards 3% €39.8bn Mortgages 23% Group Loans portfolio structure1 € bn Transportation Households 11% 30% Manufacturing 10% €39.8bn Trade 9% Tourism Other 7% 19% Agriculture Energy 6% Real Estate 1% Administrative and support service activities 4% 1% Construction 3% Wholesale loans 65% Shipping loans portfolio structure € bn VLCC (Tankers) Tankers 36% Suezmax (Tankers) 5% 13% Containers Aframax (Tankers) 10% 7% LNG 8% Panamax (Tankers). 2% Passenger Vessels €3.0bn 2% Product (Tankers) 9% Handysize/Handymax (Bulk Carriers) Capesize (Bulk Carriers) 13% Dry Bulk 44% 9% Panamax (Bulk Carriers) 22% 1| Breakdown analysis pro-forma for €5.3bn of senior notes 39 ALPHA SERVICES AND HOLDINGS#40Securities portfolio breakdown Securities portfolio breakdown Group, Book value, Jun-23, € bn T-bills Mutual Funds & Equities 0.9 0.5 o/w 12.9bn HQLAS GGBs 6.5 15.5bn GGBs portfolio Group, Book value, € bn Other/ECB eligible 7.6 ■ The "Other/ECB eligible" bonds of €7.6bn is broken down to the following categories: • €4.2bn other sovereign bonds • €0.5bn bonds issued by supranationals • €1.7bn bonds by other issuers & • €1.2bn bonds issued by Greek corporates Portfolio evolution Group, Book value, € bn 6.5 0.3 FVOCI AC 6.0 FVOCI 1.9 1.9 13.1 5.8 12.4 0.3 5.5 GGBs 0.3 0.3 0.3 6.2 5.2 0.3 0.5 GTBills 0.9 0.9 5.7 6.2 5.2 5.5 5.7 Amortised Cost 5.2 ECB eligible 0.3 0.3 5.1 Other 0.4 0.5 1.6 1.7 4.7 Jun-22 Sep-22 Dec-22 Mar-23 Jun-23 Mar-23 Jun-23 Mar-23 Jun-23 GGBs GTBills ECB eligible Other 40 ALPHA SERVICES AND HOLDINGS#41Securities portfolio evolution Portfolios evolution Group, Book value € bn % of total assets 12% 10% 11% 14% 14% 14% 14% 16% 16% 17% 20% 21% €15.0bn €14.3bn €13.1bn €12.8bn €12.1bn €10.4bn €10.6bn €9.9bn €8.7bn 13% 33% 37% €7.0bn €5.9bn 0% €5.2bn 0.02% 1% Mod. Duration C.3Y H1 2023 New investments Group Other 12% 87% 87% 42% 86% 86% 84% 77% ECB eligible / Other HQLAS 87% 100% 99% 99.8% 67% 63% DV012 & CS01 < €200k 23% 16% 14% 14% 13% 13% Dec-16 Dec-17 Dec-18 Dec-19 Dec-20 Dec-21 Mar-22 Jun-22 Sep-22 Dec-22 Mar-23 Jun-23 1 HTM / AMC AFS / FVOCI 1❘ HTM/AMC: ex Held to Maturity, Amortised Cost. AFS/FVOCI: ex Available for Sale, Fair Value through Other Comprehensive Income. 2] DV01 is the monetary change in the portfolio value for 1 basis point change in interest rates. DV01 & CS01 perimeter is Group excl. Alpha Life 46% GGBS/T-Bills HQLAS 41 ALPHA SERVICES AND HOLDINGS#42Deposits flow per quarter Alpha Bank deposits evolution in Greece Greece, € bn Q3: €1.5bn Q4: €0.4bn Q1: (€0.5bn) Q2: €1.4bn 1.5 45.8 1.8 44.6 1.1 45.0 2.5 44.5 43.1 (0.3) (0.7) (0.1) (3.1) Jun-22 Core Time Sep-22 Core Time Dec-22 Core Time Mar-23 Core Time Jun-23 Alpha Bank deposits evolution in Greece Greece, € bn 1.0 0.5 44.6 0.9 45.0 0.9 0.4 45.8 44.5 43.1 (0.5) (0.3) (0.2) Jun-22 Bus. Indiv. Sep-22 Bus. Indiv. Dec-22 Bus. Indiv. Mar-23 Bus. Indiv. Jun-23 Note: Business deposits include State deposits Deposits breakdown - June 2023 A Core A Time Time 25% 75% Core Deposits breakdown - June 2023 A Business A Individuals Business 34% 66% Individuals 42 ALPHA SERVICES AND HOLDINGS#43ECB Balances and Liquidity metrics ECB balances Group, € bn % over 18% 17% 17% 12% 7% Total Assets 13.0 13.0 13.0 TLTRO 9.0 ECB Collateral pledged Credit claims GGBS & T-bills ■ Other bonds 5.0 Group LCR & LDR % 176% 163% 161% 161% 164% 79% 78% 76% 76% 75% 11.9 12.0 11.2 10.4 13.1 Jun-22 Sep-22 Dec-22 Mar-23 Jun-23 Jun-22 Sep-22 Dec-22 Mar-23 Jun-23 1| Commercial Surplus defined as the difference between Deposits and Net Loans LCR LDR Commercial Surplus 43 ALPHA SERVICES AND HOLDINGS#44Wealth management Asset Management balances Group, € bn Private Banking Group, € bn 13.1 12.1 7.5 11.0 7.0 6.8 10.4 10.2 4.7 6.4 6.6 2.0 4.4 1.9 4.0 2.13 3.9 2.3 2.4 3.9 2.7 2.6 2.3 1.8 1.9 4.9 4.4 3.8 4.0 4.0 2.1 1.9 1.9 1.8 1.9 1.4 1.3 1.0 0.7 0.7 1.5 1.6 1.7 1.8 2.0 0.6 0.6 0.7 Jun-22 Sep-22 Dec-22 0.7 Mar-23 0.8 Jun-23 Mutual Funds Fixed Income Equities Managed Accounts Notes: Investment AUMS also includes Equities & Bonds for non Private Banking customers. Private Banking Investment AUMs also includes AB Mutual Funds Jun-22 Sep-22 Dec-22 Mar-23 Jun-23 Deposits Mutual Funds Fixed Income Equities 44 ALPHA SERVICES AND HOLDINGS#45Business Volumes (€ mn) Group Gross Loans Jun 2023 Mar 2023 Dec 2022 Sep 2022 Jun 2022 39,787 39,327 39,922 40,055 39,333 % YoY 1.2% Mortgages 9,198 9,285 9,356 9,378 9,409 (2.2%) Consumer Loans 1,553 1,564 1,617 1,646 1,667 (6.8%) Credit Cards 1,015 1,004 1,048 1,009 1,057 (4.0%) Small Business Loans 2,187 2,216 2,301 2,323 2,314 (5.5%) Medium and Large Business Loans 25,834 25,258 25,600 25,699 24,887 3.8% of which: Domestic 35,379 34,929 35,608 35,825 35,156 0.6% Mortgages 7,144 7,212 7,288 7,343 7,409 (3.6%) Consumer Loans 1,251 1,264 1,320 1,340 1,356 (7.8%) Credit Cards 984 974 1,019 981 1,030 (4.5%) Small Business Loans 2,165 2,193 2,279 2,300 2,291 (5.5%) Medium and Large Business Loans 23,835 23,285 23,703 23,860 23,071 3.3% of which: Shipping Loans 3,005 2,924 3,111 3,279 3,052 (1.5%) International 4,409 4,398 4,314 4,230 4,177 5.5% Accumulated Provisions¹ (1,147) (1,135) (1,215) (1,238) (1,280) (10.4%) Group Net Loans 38,681 38,230 38,748 38,858 38,098 1.5% Customer Assets of which: Group Deposits Sight & Savings Time deposits Domestic Sight & Savings Time deposits International 64,898 62,368 61,807 60,501 58,648 10.7% 51,795 50,229 50,759 50,094 48,496 6.8% 37,012 37,191 40,407 41,132 39,387 (6.0%) 14,783 13,037 10,352 8,962 9,109 62.3% 45,839 44,483 45,017 44,591 43,102 6.3% 34,371 34,493 37,567 38,291 36,520 (5.9%) 11,468 9,990 7,450 6,301 6,582 74.2% 5,956 5,746 5,742 5,502 5,394 10.4% Mutual Funds 4,729 4,417 4,018 3,893 3,914 20.8% Fixed Income 2,654 2,609 2,346 1,924 1,802 47.3% Equities 4,932 4,391 4,013 3,968 3,796 29.9% Managed Accounts 788 723 671 623 640 23.1% Total Private Banking Balances (incl. Deposits) 7,454 6,986 6,761 6,556 6,435 15.8% 1| Include off balance sheet items 45 ALPHA SERVICES AND HOLDINGS#46Digital acceleration to build on a good transactional starting base Digital KPIs Individuals Active Users (in m.)1 1 Acquisition 2 Usage 3 Engagement +7.3% 11:27+ 0.971.07 1.11 1.17 1.20 1.23 1.28 1.32 1.33 1.38 1.42 1.43 1.45 1.48 Λογαριασμοί Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 Q1/23 Q2/23 96% Transaction penetration 2,6 Consumer Loans Prepaid Cards Term Deposits Debit Cards 52% Individual Client penetration 3,6 Digital Sales 4,5 66% Business Client penetration 3,6 29% 32% Επισκόπηση Μεταφορές 2 πληρωμές ALPHABANISMO 23.563,08 EUR myAlpha Quick Loan Xpe Λογαριασμοί τα Η μεθοδοσία μου και το αποκαυτήρια μου Gatecas-umol • 62 Σπουδές παιδιού **1.751,14 € 6.695,80 C 3 10.817,00 C - Η Εθνική και 4.299.14 c 21/1/811-18 Κάρτες Συνδρομητής Derma ALPHA BANK myAlpha Web Επισκόπηση myAlpha Quick Loan Tipa к and to myAlpha Webl бы 5.0006, на хомейн назари дыріс куурации, σε λίγα λεπτά της γρια και W 2 € 40 B О Мийные Eine Exa > www Λογαριασμοί Fund ist und 16.108,19 € ♡ Diy 58% [ Η δοπισμο 1. Η μισθοδοσία μου GRATCNA και το καμιευτήριο μου 1.606,08 CARA SA 1914 Διαθέσιμο μινάλωση 1.674,25 0 58% Νέα ποσίόνια 1 Η έξυπνη αποταμίευσή μου Η χρεωστικη καρτα μου GINITHATATATATATATATER 2.498,85 >> Τα έγγραφα μου Alphe 105 GREATA144121 Super Mungan Nesó Ap Διαθέσιμος κινήθ Η Σπουδές παιδιού wing 45,00 usp HATENATI SAMANATED 10.301,75: ENALA » apsevan ρυθμίσεις Μεταφορά ποσών μεταξύ λογαριασμών μου στην κυρία Rank Α Επιλογές εμφάνισης 1) Individuals with 3month login; 2) Txs through web/mobile/ATM/APS over total; 3) Digital 3month active over total "addressable" as of March '23; 4) E2E digital sales items -unsecured loans; 5) H1/2023 production; 6) as of 46 H1 23 ALPHA SERVICES AND HOLDINGS#47大 Alpha Bank · Business Update • Financial Performance Analysis Pages 3 10 • Appendix ■ Macroeconomic Update 28 32 P&L Volumes 36 ☐ Asset Quality 47 ■ Capital 52 ◉ ESG 56 ☐ Segmental Information 61 47 ALPHA SERVICES AND HOLDINGS#48Gross organic NPE formation in Greece per segment Gross formation (Organic) - Wholesale Greece, € mn 80 46 97 1 (29) (30) (39) (192) (155) (254) (461) 2018 2019 2020 2021 2022 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Gross formation (Organic) - SBL Gross formation (Organic) - Retail Greece, € mn (186) (284) 334 70 44 24 (22) (52) (70) (994) 2018 2019 2020 2021 2022 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Gross formation (Organic) - Mortgages Greece, € mn Greece, € mn 111 0 0 15 (5) (10) (5) (20) (155) (326) Gross formation (Organic) - Consumer Greece, € mn 160 191 32 18 74 26 13 (4) (4) (11) (18) (11) (6) (24) (54) (126) (141) (324) (373) (495) 2018 2019 2020 2021 2022 Q2 22Q3 22Q4 22Q1 23Q2 23 2018 2019 2020 2021 2022 Q2 22Q3 22Q4 22Q1 23Q2 23 2018 2019 2020 2021 2022 Q2 22Q3 22Q4 22Q1 23Q2 23 Note: Gross formation including curings, repayments, liquidations and debt forgiveness. 48 ALPHA SERVICES AND HOLDINGS#49Auctions and repossession activity evolution Auctioned properties (Conducted) per quarter 3.871 During 1H 2023, the Bank continued with its disinvestment strategy through the completion of €24mn REO sales in Greece and €138mn in Cyprus (including Project Sky). Sales in Greece included both commercial as well as residential assets. 40% 1.344 33% FY 2019 FY 2020 236 42% FY 2021 199 40% FY 2022 49 14% Q1 2023 unsuccessful % of successful over conducted auctions REO portfolio evolution (entries/exits) - Greece € mn €0.8bn 40 -58 €0.8bn 22 -61 43 -7% Q2 2023 During early 2023, Alpha Services and Holdings S.A. announced the definitive agreement with the consortium comprised of Dimand S.A. and Premia Properties REIC for the formation of an equity partnership in real estate investment through the sale of a Euro 438 million real estate portfolio (Project Skyline). Project Skyline, is the largest open market real estate portfolio transaction in Greece in recent years, comprises of 573 assets of multiple types, including offices, commercial real estate, residential and industrial/logistics assets, with a gross area of c. 500,000 sq.m. and is estimated to be completed until the end of 3Q23. €0.7bn 45 -46 €0.7bn 4 -24 €0.7bn -224 REO Portfolio Acquisitions 31.12.19 Sales REO Portfolio Acquisitions 31.12.20 Sales REO Portfolio Acquisitions 31.12.21 Sales REO Portfolio Acquisitions 31.12.22 Sales REO Portfolio 30.06.23 Expected Skyline Sales €0.5bn REO Portfolio 30.06.23 adjusted 49 ALPHA SERVICES AND HOLDINGS#50Detailed overview of Alpha Bank's asset quality by portfolio - (€ bn) Wholesale 23.8 SBL 2.2 Mortgages 7.1 Consumer 2.2 - Greece Total 35.4 Gross loans (-) Accumulated Provisions (0.3) (0.2) (0.3) (0.2) (1.1) Net loans 23.6 1.9 6.8 2.0 34.3 NPLs NPL ratio NPES NPE ratio 0.2 0.4 0.5 0.3 1.4 0.8% 17.1% 7.7% 11.5% 3.8% 0.4 0.6 1.4 0.4 2.8 1.6% 28.0% 19.6% 19.1% 8.0% NPL collateral NPE collateral 0.1 0.2 0.5 0.1 0.9 0.3 0.4 1.3 0.1 2.0 208% □ Collateral 140% 146% 142% 64% 122% 113% 117% 109% 100% 82% Coverage ratio 73% 55% 88% 22% 64% Cash 144% 60% 90% 25% 71% 95% 66% 66% 41% 58% 57% 79% 23% 38% NPL NPE NPL NPE NPL NPE NPL NPE NPL NPE NPLs (+) Forborne NPLs < 90 dpds 0.2 0.4 0.5 0.3 1.4 0.1 0.2 0.8 0.2 1.3 (+) Unlikely to pay 0.1 0.0 0.0 0.0 0.1 NPES 0.4 0.6 1.4 0.4 2.8 Forborne NPLs >90dpd 0.0 0.2 0.3 0.1 0.7 Forborne NPLs <90dpd 0.1 0.2 0.8 0.2 1.3 Performing forborne 0.2 0.3 1.4 0.2 2.2 Total forborne 0.4 0.7 2.5 0.5 4.2 50 ALPHA SERVICES AND HOLDINGS#51(€ bn) Gross loans Wholesale 25.8 SBL 2.2 Detailed overview of Alpha Bank's asset quality by portfolio - Group Mortgages 9.2 Consumer 2.6 Total 39.8 (-) Accumulated Provisions (0.3) (0.2) (0.4) (0.3) (1.2) Net loans 25.5 1.9 8.8 2.3 38.6 NPLs 0.2 0.4 0.6 0.3 1.5 NPL ratio 0.8% 17.0% 6.8% 11.2% 3.8% NPES NPE ratio NPL collateral 0.4 0.6 1.5 0.5 3.0 1.7% 27.9% 16.3% 18.1% 7.6% 0.1 0.2 0.5 0.1 1.0 NPE collateral 0.3 0.4 1.3 0.1 2.1 217% 66% 146% 144% 144% Collateral 122% 113% 119% 111% 100% 85% Coverage ratio □ Cash 74% 55% 87% 23% 64% 150% 60% 90% 25% 71% 95% 72% 66% 80% 41% 57% 59% 24% 40% NPL NPE NPL NPE NPL NPE NPL NPE NPL NPE NPLs 0.2 0.4 0.6 0.3 1.5 (+) Forborne NPLs < 90 dpds 0.1 0.2 0.8 0.2 1.4 (+) Unlikely to pay 0.1 0.0 0.1 0.0 0.2 NPES 0.4 0.6 1.5 0.5 3.0 Forborne NPLs >90dpd 0.0 0.2 0.3 0.2 0.7 Forborne NPLs <90dpd 0.1 0.2 0.8 0.2 1.4 Performing forborne 0.4 0.3 1.5 0.2 2.4 Total forborne 0.6 0.7 2.6 0.5 4.4 51 ALPHA SERVICES AND HOLDINGS#52大 Alpha Bank · Business Update • Financial Performance Analysis Pages 3 10 • Appendix ■ Macroeconomic Update 28 32 ◉ P&L Volumes 36 Asset Quality 47 ☐ Capital 52 56 ◉ ESG ☐ Segmental Information 61 52 ALPHA SERVICES AND HOLDINGS#53Fully loaded Regulatory Capital Equity to fully loaded regulatory capital bridge € mn 6,577 8.9% Tangible book value / Tangible Assets 6,073 (504) 400 4,740 64 Ho 4,340 (1,797) 1,000 5,740 Ordinary Equity Intangibles Tangible Book Value DTA deduction Other CET1 AT1 & Hybrids Tier 1 Lower Tier II Total CAD 53 ALPHA SERVICES AND HOLDINGS#54Group RWAs and Regulatory Capital Group Risk Weighted Assets - Fully Loaded € bn Credit Risk Weights per portfolio % -€1.47bn 33.9 0.5.3.1 (0.1) (1.4) 0.0 32.5 0.4.3.1 101% 50% 54% 30.3 29.0 Performing Net NPE Mar-23 Credit Market Operational Jun-23 Credit Market Operational Total Loan Portfolio RWA Density Transitional arrangements - IFRS 9 and B3 DTA DTA & Tax Credit with CET1 Capital € bn € mn CET1 4.4 4.3 3.3 3.3 Amortisation 2020 2021 2022 2023 2024 DTC IFRS 9 (239) (319) (398) (398) IFRS9 2.7 2.7 DTC 100% DTA Basel 3 (39) (39) (39) (39) (39) RWf Other DTA 0.0 0.0 No meaningful impact 0.7 0.6 DTA 250% from finalisation of B3 RWf Jun-23 Jun-23 (phased-in) 54 ALPHA SERVICES AND HOLDINGS#55Further progress towards meeting MREL Requirements 27.18% €500mn Senior Preferred Bond issued in June 2023: 6NC5, 6.875% coupon Further progress towards final MREL targets in a sustainable fashion 19.94% 3.58% 16.36% €0.9 bn vs. 3.58% 24.34% 2026 MREL Target 4.4% surplus to non- No subordinated MREL requirement 5.90% binding Interim MREL Requirement ◉ Expect Alpha Bank to continue to be a regular issuer in the debt capital markets 0.77% MREL ratio as of 30.06.2023 stands at 24.34%, well above both the interim non- binding targets of 2023 (19.94%) and 2024 (22.39%). 23.60% Outstanding Debt Instruments Issuance date 17.68% AT1 01/02/2023 Tier II Tenor Size (Єmn) Maturity Coupon PerpNC5.5 400 Perpetual 11.875% 13/02/2020 10NC5 500 13/02/2030 4.25% 11/03/2021 10.25NC5.25 500 11/06/2031 5.50% 2023 MREL Non- Binding Interim Target (incl. CBR) 2026 MREL Final Binding Target (incl. CBR) MREL ratio Q2 2023 OpCo Group 4 Senior preferred 23/09/2021 6.5NC5.5 500 23/03/2028 2.50% 01/11/2022 3NC2 400 01/11/2025 7.00% MREL Target 2026 Senior Preferred 16/12/2022 4.5NC3.5 450 16/06/2027 7.50% 2 CBR applicable as of the Other MREL eligible liabilities reference date 3 Binding Interim MREL 2022 Total Capital ratio OpCo Group (TR) 13/02/2023 27/06/2023 6NC5 64 13/02/2029 6.75% 6NC5 500 27/06/2029 6.875% 1| The Combined Buffer Requirement (CBR) applies on top of MREL target. 2| Subject to SRB approval. 3| Including profit for the period. 4| MREL requirements applicable only to the OpCo on a consolidated basis. 55 ALPHA SERVICES AND HOLDINGS#56大 Alpha Bank · Business Update • Financial Performance Analysis Pages 3 10 • Appendix ■ Macroeconomic Update 28 32 ◉ P&L Volumes 36 Asset Quality 47 ◉ Capital 52 56 ☐ ESG Segmental Information 61 56 ALPHA SERVICES AND HOLDINGS#572023 is a pivotal year in our journey to Net Zero IIII 2019 Alpha Bank becomes UNEP FI signatory Adoption of Principles of Responsible Banking 2021 1st UNEP FI report & targets disclosure Established ESG Governance 2022 Climate Risk Management set-up at Board & Executive level Launch Sustainable Finance Framework P Q1 2023 ESG strategy incorporated in Business Plan Launch ESG Academy aiming to train 65% of staff in first year Q2 2023 NetZero Banking Alliance commitment First full PCAF Financed Emission measurement ESG score introduced for all clients H2 2023 Set Science Based Targets for Financed Emissions Climate Risk Assessment in all lending decisions OFFICIAL MEMBERSHIPS .::PRI Principles for EBF Responsible Investment Global Sustain People Planet Prot CSR HELLAS FINANCE UNEP INITIATIVE HELLENIC BANK ASSOCIATION 57 ALPHA SERVICES AND HOLDINGS#58We continue to align with the expectations of our stakeholders... Stakeholders Investors Goals Alignment of financial impacts with Paris Agreement Initiatives Define strategy focused on using sustainable lending to secure ROE and define Science Based Targets • Develop Green Bond framework to support funding of sustainability investments Enhance disclosures to fully align with SASB and TCFD, from 2023 Set Targets to reduce the Bank's environmental impact (carbon emissions, resource usage and waste) SDG alignment RESPONSIBLE 12 CONSUMPTION AND PRODUCTION Со 13 CLIMATE ACTION CLEAN WATER AND SANITATION Regulatory Integrate of ESG criteria into our Risk Management framework Support our clients Customers & Markets with their transition to a low carbon economy • societal impacts with the People & Society Align internal & external ESG agenda of the Group ⚫Implement ECB guidelines for Climate Risk Management Incorporate material ESG criteria into all lending and investment decision making processes • Align Risk & Capital strategy with ESG criteria and sectoral transition pathways • Leverage Bank's Sustainable Finance Framework to accelerate Green lending Review key clients' ESG performance and develop plans to support their low carbon transition • Strengthen the development of ESG-related products & services • Create ecosystem of ESG partners to support clients transition plans • Launch new Corporate Purpose & Values aligning our day-to-day actions with sustainability principles • Launch ESG Academy to provide ESG training and specialized expertise to all employees • Alignment of the Bank's social impact programs with UNEP FI PRB impact analysis •Leadership-driven promotion of ESG issues to the market, public and policy makers 16 PEACE JUSTICE AND STRONG INSTITUTIONS SUSTAINABLE CITES AND COMMUNITIES AQUALITY 4 EDUCATION 12 RESPONSIBLE 12 CONSUMPTION AND PRODUCTION QUALITY GENDER EDUCATION Q DECENT ECONOMIC REDUCED 8WORK AND 10 EQUALITIES GROWTH AM ALPHA SERVICES AND HOLDINGS 58 ALPHA SERVICES AND HOLDINGS#59…..culminating in our new Sustainability Strategy Leverage Sustainability as a key growth driver Our Commitments Our Targets Support an environmentally sustainable Economy • • • Align our portfolio emissions to Net Zero Mitigate key drivers of biodiversity loss Support the transition to a circular economy Achieve Net zero in our own operations € 3 Bn Total sustainable disbursements in '23-'251 Net Zero Targets setting within 2023 Zero Financing To selected activities³ Foster healthy economies and Societal progress Enhance people's financial health through our lending activities Provide an Inclusive and Safe Work environment Support equal access to Healthcare, Education, Culture and Heritage >40% Women increase in managerial position +20% Increase in young people employment by 2025 Limited Financing To activities affecting health and well-being4 Ensure robust & transparent Governance Ensure the Diversity and Independence of our Board of Directors • Embed sustainability in our Governance • Enhance transparency and safeguard business ethics 40% Female Representation in non-executive directors Majority Independent Members of the BoD All Committees Chairs Independent ESG criteria Incorporated in remuneration & risk management framework Sustainable Development Goals 11 SUSTAINABLE CITIES AND COMMUNITIES 12 RESPONSIBLE CONSUMPTION 13 ACTION CLIMATE 15 ON LAND LIFE QUALITY EDUCATION GENDER EQUALITY DECENT WORK AND ECONOMIC GROWTH 10 INEQUALITIES REDUCED 5 GENDER EQUALITY 8 DECENT WORK AND ECONOMIC GROWTH 16 AND STRONG PEACE, JUSTICE INSTITUTIONS AND PRODUCTION Notes: (1) Through renewable energy sources (RES) and sustainable financed loans (wholesale & retail) (2) For both own operations and financing activities (3) Activities harming species diversity, habitats and waterbodies, Thermal coal mining, Upstream oil exploration or coal-fired electricity generation (4) Activities including gambling, tobacco & alcohol 59 ALPHA SERVICES AND HOLDINGS#60Alpha Services & Holdings ESG Improved Rating profile Corporate ESG Performance RATED BY ISS ESG Prime SUSTAINALYTICS a Morningstar company Low Risk NEGL LOW MED HIGH SEVERE 0-10 10-20 20-30 30-40 40+ Memberships Alpha Services & Holdings has achieved Prime Status in May 2023 following dedicated engagement with ISS. Performance Score improved to 50.83 from 35.79, resulting in ISS Corporate ESG Rating "C". Improvement to focus on the sustainability impacts of lending and other financial services/product, which represent the Key Issue Materiality with the largest weight (35%). ISS also provides Quality Scores on Governance, Environment and Social. Scores indicate decile rank relative to index or region. A decile score of 1 indicates lower governance, environment or social risk, while a 10 indicates higher risk. Rating Performance Score Decile Rank 50.83 2 Trend Transparency Level Very High Prime Status Prime ALPHA BANK UNO initiative ALPHA BANK IS THE FIRST GREEK BANK TO JOIN THE UN-CONVENED NET ZERO BANKING ALLIANCE COMMITTED TO ACHIEVE NET-ZERO GREENHOUSE GAS EMISSIONS BY 2050 Alpha Services & Holdings is assessed as "Low Risk" by Sustainalytics with "18.8" ESG Risk Rating. Following engagement between the Governance & Sustainability division and the Sustainalytics research analyst team, the ESG Risk Rating was improved to "Low Risk" (18.8) from "Medium Risk" (20.7). All material ESG issues driving the ESG Risk Rating are now assessed as "Low Risk”. UNEP PRINCIPLES FOR FINANCE RESPONSIBLE INITIATIVE BANKING MSCI FTSE4Good ISS ESG Bloomberg Gender-Equality Index CDP DISCLOSURE INSIGHT ACTION ATHEX ESG INDEX 2022 2023 2022 2023 2022 2023 2022 2023 2022 2023 2022 2023 A Not E: 1 E: 2 ✓ Not scored S: 2 S: 3 B yet G: 3 G: 3 scored yet Not scored yet Dec 2022 July 2023 PRI Principles for Responsible Investment C ΕΛΛΗΝΙΚΗ ΕΝΩΣΗ ΤΡΑΠΕΖΩΝ Global Sustain People | Planet | Profit CSR HELLAS EBF 60 opean deration ALPHA SERVICES AND HOLDINGS#61大 Alpha Bank · Business Update • Financial Performance Analysis Pages 3 10 • Appendix ■ Macroeconomic Update 28 32 ◉ P&L Volumes 36 Asset Quality 47 Capital 52 ◉ ESG 56 ☐ Segmental Information 61 61 ALPHA SERVICES AND HOLDINGS#62Summary segments Greece International Non Performing Assets Other Wealth Management Retail Wholesale & Treasury H1 2023 H1 2022 H1 2023 H1 2022 H1 2023 H1 2022 H1 2023 H1 2022 H1 2023 H1 2022 H1 2023 H1 2022 Net interest income 299 183 289 239 111 34 125 77 38 58 1 Net commission income 62 63 53 74 42 41 22 21 6 5 0 (9) 0 Total revenue 371 251 355 324 164 162 160 108 54 72 9 13 Recurring operating (200) (211) (67) (75) (46) (41) (94) (89) (43) (53) (25) (14) expenses One-off costs (32) 1 (10) (1) (5) 0 0 0 0 0 (2) (5) Provisions (33) (38) (9) (4) (10) 6 0 6 (103) (105) 0 0 Profit After Tax 75 115 193 273 75 91 61 28 (86) (271) (15) 2 Normalised Profit After 98 11 200 174 78 39 61 21 (67) (53) (13) 10 Tax Net Loans 9,014 9,260 18,170 17,790 18 14 4,238 3,992 2,212 2,436 5,030 4,607 Deposits 33,347 30,984 8,471 7,942 3,574 3,738 5,956 5,394 185 188 263 251 RWAs¹ 6,233 6,577 13,823 14,671 4,116 4,176 3,224 3,771 3,084 2,597 1,438 1,771 Tangible Book Value 1,006 780 2,127 1,663 706 536 709 691 1,082 1,153 843 748 1| Pro-forma for remaining RWA relief of transactions 62 ALPHA SERVICES AND HOLDINGS#63Greece € mn Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Net interest income 234 262 321 340 360 Net commission income 86 79 83 74 83 Total revenue 334 421 423 430 461 Recurring operating expenses (170) (158) (174) (153) (159) One-off costs 1 (1) (9) (38) (8) Provisions (23) (30) (14) (16) (36) Profit After Tax 315 163 164 159 184 Normalised Profit After Tax 101 116 170 186 190 Net Loans 27,064 27,736 27,614 27,202 27,201 Deposits 42,663 44,131 44,570 44,044 45,391 RWAS 25,424 24,761 24,920 25,000 24,172 Tangible Book Value 2,980 3,033 3,321 3,449 3,840 63 ALPHA SERVICES AND HOLDINGS#64Retail € mn Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Net interest income 92 104 141 147 152 Net commission income 35 33 31 29 33 Total revenue 128 142 179 182 189 Recurring operating expenses (110) (101) (113) (99) (101) One-off costs 1 (0) (6) (30) (2) Provisions (18) (23) (13) (11) (22) Profit After Tax 114 11 34 30 45 Normalised Profit After Tax 0 12 39 52 47 Net Loans 9,260 9,139 9,090 9,012 9,014 Deposits 30,984 31,891 32,620 32,418 33,347 RWAS 6,577 6,344 6,331 6,295 6,233 Tangible Book Value 780 782 850 874 1,006 64 ALPHA SERVICES AND HOLDINGS#65Wholesale € mn Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Net interest income 124 131 147 142 147 Net commission income 31 27 30 24 29 Total revenue 160 163 180 169 187 Recurring operating expenses (39) (37) (38) (33) (34) One-off costs (1) (1) Provisions (4) (6) 16 (2) (5) (5) 0 2 (11) Profit After Tax 183 84 100 95 98 Normalised Profit After Tax 83 85 102 98 102 Net Loans 17,790 18,585 18,512 18,176 18,170 Deposits 7,942 8,441 8,650 8,050 8,471 RWAS 14,671 14,791 14,862 14,710 13,823 Tangible Book Value 1,663 1,755 1,918 1,967 2,127 65 ALPHA SERVICES AND HOLDINGS#66Wealth management & Treasury € mn Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Net interest income 19 27 34 50 61 Net commission income 20 18 22 Total revenue 46 116 64 79 22 21 21 85 Recurring operating expenses (21) (20) (22) (21) (24) One-off costs 0 0 (0) (3) (2) Provisions (0) (1) (1) (7) (3) Profit After Tax 18 68 30 34 41 Normalised Profit After Tax 18 19 30 36 42 Net Loans 14 12 11 14 18 Deposits 3,738 3,799 3,300 3,575 3,574 RWAS 4,176 3,626 3,728 3,996 4,116 Tangible Book Value 536 496 552 608 706 66 ALPHA SERVICES AND HOLDINGS#67International € mn Net interest income Net commission income Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 40 44 53 60 65 10 11 11 11 11 Total revenue 54 58 71 76 84 Recurring operating expenses (43) (44) (48) (49) (45) One-off costs 0 0 0 0 0 Provisions 11 7 (10) 2 (2) Profit After Tax 23 20 22 27 33 Normalised Profit After Tax 20 19 13 27 33 Net Loans 3,992 4,061 4,152 4,226 4,238 Deposits 5,394 5,502 5,742 5,746 5,956 RWAS 3,771 3,132 3,066 3,171 3,224 Tangible Book Value 691 636 641 669 709 67 ALPHA SERVICES AND HOLDINGS#68International – Romania € mn Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Net interest income 29 30 32 34 35 Net commission income 7 7 7 6 7 Total revenue 39 38 41 43 46 Recurring operating expenses (27) (27) (32) (33) (30) One-off costs 0 0 0 0 0 Provisions 6 8 (7) 2 (2) Profit After Tax 15 15 2 11 12 Normalised Profit After Tax 15 15 2 11 12 Net Loans 2,742 2,832 2,950 3,015 3,015 Deposits 2,677 2,772 2,978 2,955 3,039 RWAS 1,824 1,870 1,879 1,994 2,045 Tangible Book Value 412 422 424 433 445 68 ALPHA SERVICES AND HOLDINGS#69International – Cyprus - € mn Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Net interest income 6 9 15 19 24 Net commission income 3 4 4 4 4 Total revenue 12 15 24 27 32 Recurring operating expenses (13) (13) (12) (13) (13) One-off costs 0 0 0 0 0 Provisions 6 (1) (3) 0 (1) Profit After Tax 5 1 10 15 18 Normalised Profit After Tax 5 1 10 15 18 Net Loans 834 836 835 860 853 Deposits 2,237 2,280 2,335 2,361 2,499 RWAS 1,217 1,054 988 986 996 Tangible Book Value 146 148 150 166 190 69 ALPHA SERVICES AND HOLDINGS#70Non Performing Assets € mn Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Net interest income 29 30 21 22 16 Net commission income 2 2 3 3 3 Total revenue 31 33 33 20 28 26 Recurring operating expenses (23) (23) (26) (21) (22) One-off costs 0 0 (3) (0) (0) Provisions (79) (38) (66) (65) (38) Profit After Tax (217) (92) (95) (66) (20) Normalised Profit After Tax (49) (20) (56) (42) (25) Net Loans 2,436 2,460 2,363 2,314 2,212 Deposits 188 198 189 181 185 RWAs¹ 2,597 3,609 3,561 3,182 3,084 Tangible Book Value 1,153 1,231 1,180 1,108 1,082 1| Pro-forma for remaining RWA relief of transactions 70 ALPHA SERVICES AND HOLDINGS#71Other € mn Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Net interest income Net commission income Total revenue (2) 1 1 2 (1) 0 (0) 0 0 0 3 4 (5) 2 8 Recurring operating expenses (6) (7) (9) (11) (14) One-off costs (7) 00 6 (5) (0) (2) Provisions 0 (0) (0) 0 (0) Profit After Tax (6) (20) (29) (9) (6) Normalised Profit After Tax (1) (20) (22) (9) (4) Net Loans 4,607 4,601 4,619 4,489 5,030 Deposits 251 263 257 258 263 RWAs 1,771 1,658 1,336 1,280 1,438 Tangible Book Value 748 815 642 634 843 71 ALPHA SERVICES AND HOLDINGS#72Glossary (1/4) Reference Terms number Accumulated Provisions and 1 FV adjustments 2 Core Banking Income 3 Core deposits 4 Core Operating Income 5 Core Pre-Provision Income 6 Cost of Risk 7 Cost/Assets 8 Deposits 9 Extraordinary costs 10 Fair Value adjustments 11 Fully-Loaded Common Equity Tier 1 ratio 12 Gross Loans 13 Definitions Sum of Provision for impairment losses for loans and advances to customers, the Provision for impairment losses for the total amount of off balance sheet items exposed to credit risk as disclosed in the Consolidated Financial Statements of the reported period, and the Fair Value Adjustments (10). Sum of Net interest income and Net fee and commission income as derived from the Consolidated Financial Statements of the reported period. Sum of "Current accounts", "Savings accounts" and "Cheques payable", as derived from the Consolidated Financial Statements of the reported period, taking into account the impact from any potential restatement. Operating Income (35) less Income from financial operations (18) less management adjustments on operating income for the corresponding period. Core Operating Income (4) for the period less Recurring Operating Expenses (45) for the period. Impairment losses (14) for the period divided by the average Net Loans of the relevant period. Average balances is defined as the arithmetic average of balance at the end of the period and at the end of the previous period. Recurring Operating Expenses (45) for the period (annualised) divided by Total Assets (18). The figure equals Due to customers as derived from the Consolidated Balance Sheet of the reported period. Management adjustments on operating expenses, that do not relate to other PnL items. The item corresponds to the accumulated Fair Value adjustments for non-performing exposures measured at Fair Value Through P&L (FVTPL). Common Equity Tier 1 regulatory capital as defined by Regulation No 575/2013 (Full implementation of Basel 3), divided by total Risk Weighted Assets The item corresponds to Loans and advances to customers, as reported in the Consolidated Balance Sheet of the reported period, gross of the Accumulated Provisions and FV adjustments (1) excluding the accumulated provision for impairment losses on off balance sheet items, as disclosed in the Consolidated Financial Statements of the reported period. Impact from NPA transactions Management adjustments to income and expense items as a result of NPE/NPA exposures transactions 14 Impairment losses 15 Impairment losses of which Underlying 16 Impairment losses on loans Impairment losses on 17 transactions Impairment losses on loans (16) excluding impairment losses on transactions (17). Impairment losses (14) excluding Loans servicing fees as disclosed in the Consolidated Financial Statements of the reported period. Impairment losses and provisions to cover credit risk on Loans and advances to customers and related expenses as derived from the Consolidated Financial Statements of the reported period, taking into account the impact from any potential restatement, less management adjustments on impairment losses on loans for the corresponding period. Management adjustments on impairment losses on loans include events that do not occur with a certain frequency, and events that are directly affected by the current market conditions and/or present significant variation between the reporting periods. Represent the impact of incorporating sale scenario in the estimation of expected credit losses. Relevance of the metric Abbreviation Standard banking terminology Profitability metric Standard banking terminology Profitability metric Profitability metric Asset quality metric Efficiency metric Standard banking terminology Standard banking terminology Regulatory metric of capital strength Standard banking terminology Asset quality metric Asset quality metric Asset quality metric Standard banking terminology Asset quality metric LLR Core depos Core PPI (Underlying) COR FV adj. FL CET 1 ratio LLP 72 ALPHA SERVICES AND HOLDINGS#73Glossary (2/4) Reference Terms number "Income from financial 18 operations" or "Trading Income" 19 Income tax 20 Leverage Ratio Loan to Deposit ratio 22 21 22 Net Interest Margin Net Loans 23 23 Definitions Sum of Gains less losses on derecognition of financial assets measured at amortised cost and Gains less losses on financial transactions, as derived from the Consolidated Income Statement of the reported period, less management adjustments on trading income for the corresponding period.Management adjustments on trading income include events that do not occur with a certain frequency, and events that are directly affected by the current market conditions and/or present significant variation between the reporting periods. The figure equals Income tax as disclosed in the Consolidated Financial Statements of the reported period, less management adjustments on income tax for the corresponding period. Management adjustments on income tax include events that do not occur with a certain frequency, and events that are directly affected by the current market conditions and/or present significant variation between the reporting periods. This metric is calculated as Tier 1 divided by Total Assets (52). Net Loans (23) divided by Deposits (8) at the end of the reported period. Net interest income for the period (annualised) divided by the average Total Assets (52) of the relevant period. Average balance is defined as the arithmetic average of balance at the end of the period and at the end of the previous relevant period. Loans and advances to customers as derived from the Consolidated Balance Sheet of the reported period. Accumulated Provisions and FV adjustments (1) plus CET 1 deductions used to cover calendar provisioning shortfall divided by NPES (27) at the end of the reference period NPES (27) divided by Gross Loans (12) at the end of the reference period. 24 Non Performing Exposure Coverage 25 Non Performing Exposure ratio 26 Non Performing Exposure Total Coverage Accumulated Provisions and FV adjustments (1) plus the value of the NPE collateral, plus CET 1 deductions used to cover calendar provisioning shortfall divided by NPES (27) at the end of the reported period. 27 Non Performing Exposures 28 Non Performing Exposures Collateral Coverage 24 29 29 30 Non Performing Loan Collateral Coverage Non Performing Loan Coverage 30 31 Non Performing Loan ratio 32 33 33 Non Performing Loan Total Coverage Non Performing Loans Non-performing exposures (27) are defined according to EBA ITS on forbearance and Non Performing Exposures as exposures that satisfy either or both of the following criteria: a) material exposures which are more than 90 days past-due b)The debtor is assessed as unlikely to pay its credit obligations in full without realisation of collateral, regardless of the existence of any past-due amount or of the number of days past due. Value of the NPE collateral divided by NPES (27) at the end of the reference period. Value of collateral received for Non Performing Loans (27) divided by NPLs (33) at the end of the reference period. Accumulated Provisions and FV adjustments (1) plus CET 1 deductions used to cover calendar provisioning shortfall divided by NPLs (33) at the end of the reference period. NPLs (33) divided by Gross Loans (12) at the end of the reference period. Accumulated Provisions and FV adjustments (1) plus the value of the NPL collateral, plus CET 1 deductions used to cover calendar provisioning shortfall divided by NPLs (Non Performing Loans) at the end of the reference period. Non Performing Loans (33) are Gross loans (12) that are more than 90 days past-due. Relevance of the metric Abbreviation Standard banking terminology Standard banking terminology Standard banking terminology Liquidity metric Profitability metric Standard banking terminology Asset quality metric Asset quality metric Asset quality metric Asset quality metric Asset quality metric Asset quality metric Asset quality metric Asset quality metric Asset quality metric Asset quality metric LDR or L/D ratio NIM NPE (cash) coverage NPE ratio NPE Total coverage NPES NPE collateral Coverage NPL collateral Coverage NPL (cash) Coverage NPL ratio NPL Total Coverage NPLs 73 ALPHA SERVICES AND HOLDINGS#74Glossary (3/4) Reference number Terms Definitions Relevance of the metric Abbreviation 34 Normalised Net Profit after (income) tax 35 Operating Income 36 36 Other (operating) income 37 Other impairment losses 38 PPI/Average Assets 39 40 41 42 Pre-Provision Income Profit/ (Loss) before income tax Profit/ (Loss) after income tax from continuing operations Profit/ (Loss) after income tax from discontinued operations Normalised profits between financial year 2022 and 2021 are not comparable due to initiation of a new normalized profits procedure effective since 1.1.2022 which does not exclude specific accounts such as the trading gains account and is based on specific principles and criteria. Main Income and expense items that are excluded for purposes of the normalized profit calculation are listed below: 1. Transformation related: a. Transformation Costs and related Expenses b. Expenses and Gains/Losses due to Non-Core Assets' Divestiture c. Expenses/Gains/Losses as a result of NPE/NPA exposures transactions' 2. Other non-recurring related: a. Expenses/Losses due to non anticipated operational risk b. Expenses/Losses due to non anticipated legal disputes c. Expenses/Gains/Losses due to short-term effect of non-anticipated and extraordinary events with significant economic impact d. Non-recurring HR/Social Security related benefits/expenses e. Impairment expenses related to owned used [and inventory] real estate assets f. Initial (one off) impact from the adoption of new or amended IFRS g. Tax related one-off expenses and gains/losses 3. Income Taxes Applied on the Aforementioned Transactions. Sum of Net interest income, Net fee and commission income, Gains less losses on derecognition of financial assets measured at amortised cost, Gains less losses on financial transactions, Other income, Share of profit/(loss) of associates and joint ventures, as derived from the Consolidated Income Statement of the reported period, taking into account the impact from any potential restatement. Sum of Dividend income, Other income, Share of profit/(loss) of associates and joint ventures, insurance revenue/(expenses) and financial income/(expenses) from insurance contracts as derived for the Consolidated Income Statements of the reported period, taking into account the impact from any potential restatement. Impairment losses and provisions to cover credit risk on other financial instruments as derived for the Consolidated Financial Statements of the reported period. Pre-Provision Income for the period (39) (annualised) divided by Average Total Assets (52) of the relevant period. Average balance is defined as the arithmetic average of balance at the end of the period and at the end of the previous relevant period. Operating Income (35) for the period less Total Operating Expenses (53) for the period. Operating Income (35) for the period less Total Operating Expenses (53) plus Impairment losses on loans (16), plus Other Impairements Profit/ (Loss) before income tax (40) for the period less Income tax (19) for the period The figure equals Net profit/(loss) for the period after income tax, from Discontinued operations as disclosed in Consolidated Income Statement of the reported period, less management adjustments. Management adjustments on operating expenses include events that do not occur with a certain frequency, and events that are directly affected by the current market conditions and/or present significant variation between the reporting periods. Profitability metric Normalised Net PAT Standard banking terminology Standard banking terminology Standard banking terminology Profitability metric Profitability metric Profitability metric PPI Profitability metric Profitability metric 74 ALPHA SERVICES AND HOLDINGS#75Glossary (4/4) Reference number Terms Definitions Relevance of the metric Abbreviation 43 Profit/ (Loss) attributable to shareholders 44 Recurring Cost to Income ratio 445 Recurring Operating Expenses 46 Return on Equity 47 "Return on Tangible Book Value" or "Return on Tangible Equity" 48 RWA Density 49 Securities 50 50 62 Profit/ (Loss) after income tax from continuing operations (41) for the period, less Impact from NPA transactions (13), plus Profit/ (Loss) after income tax from discontinued operations (42), plus Non-controlling interests as disclosed in Consolidated Income Statement of the reported period. Recurring Operating Expenses (45) for the period divided by Core Operating Income (4) for the period. Total Operating Expenses (53) less management adjustments on operating expenses. Management adjustments on operating expenses include events that do not occur with a certain frequency, and events that are directly affected by the current market conditions and/or present significant variation between the reporting periods. Net profit/(loss) attributable to: Equity holders of the Bank (annualised), as disclosed in Consolidated Income Statement divided by the Average balance of Equity attributable to holders of the Company, as disclosed in the Consolidated Balance sheet at the reported date, taking into account the impact from any potential restatement. Average balance is defined as the arithmetic average of the balance at the end of the period and at the end of the previous relevant period. Net profit/(loss) attributable to: Equity holders of the Bank (annualised), as disclosed in Consolidated Income Statement divided by the Average balance of Tangible Book Value (50). Average balance is defined as the arithmetic average of the balance at the end of the period and at the end of the previous relevant period. Risk Weighted Assets divided by Total Assets (52) of the relevant period. Sum of Investment securities and Trading securities, as defined in the consolidated Balance Sheet of the reported period. Tangible Book Value or Tangible Total Equity excluding the sum of Goodwill and other intangible assets, Non-controlling interests and Additional Tier 1 capital & Hybrid securities. Equity All terms disclosed in the Consolidated Balance sheet at the reported date, taking into account the impact from any potential restatement. Tangible Book Value (50) divided by the outstanding number of shares. 51 Tangible Book Value per share 52 Total Assets 53 Total Operating Expenses 53 Total Assets (52) as derived from the Consolidated Balance Sheet of the reported period, taking into account the impact from any potential restatement. Sum of Staff costs, Voluntary exit scheme program expenses, General administrative expenses, Depreciation and amortization, Other expenses as derived from the Consolidated Income Statement of the reported period taking into account the impact from any potential restatement. Profitability metric Efficiency metric C/I ratio Efficiency metric Recurring OPEX Profitability metric RoE Profitability metric Standard banking terminology Standard banking terminology Standard banking terminology Valuation metric Standard banking terminology Standard banking terminology 75 ROTBV or ROTE ALPHA TBV or TE TBV/share TA Total OPEX SERVICES AND HOLDINGS#76Alpha Bank Contacts Lazaros Papagaryfallou General Manager - CFO +30 210 326 2261 [email protected] lason Kepaptsoglou Head Investor Relations Division +30 210 326 2271 [email protected] Investor Relations Division 40 Stadiou Street, 102 52, Athens +30 210 326 2271 +30 210 326 2277 [email protected] Stella Traka Manager Investor Relations Division +30 210 326 2274 [email protected] Senior Selini Milioni Investor Relations Officer +30 210 326 2273 [email protected] Internet Reuters Bloomberg : www.alphaholdings.gr : ACBr.AT (shares) : ALPHA GA (shares) Alpha Bank Depository Receipts (ADRs) : ALBKY.PK Reuters Bloomberg : ALBKY US 76 ALPHA SERVICES AND HOLDINGS