#1COTIZA EN BOLSA MEXICANA DE VALORES GFNORTE BNY MELLON DEPOSITARY RECEIPTS OTCQX GBOOY ASUSTENTABLE FTSE4Good MEMBER OF Dow Jones Sustainability Indices In Collaboration with SAM EMPRESA MILA BEST BANK AWARD 2019 BANORTE LATIBEX XNOR The Banker GLOBAL FINANCE Best Bank 2019 México Bank of the Year 2020 MEXICO GRUPO FINANCIERO BANORTE 1 Eco Hist DB NIM Rev C/I NI Div ROE LD Dep Loan ICAP BAP Guid Mkt App 4Q20#22 Expectation of a recovery in 2021 2020 GDP estimate % y/y (nsa), % q/q (sa) GDP* % y/y (nsa), % q/q (sa) 2020-2021 GDP estimates % y/y % y/y 1Q20 2Q20 | 3Q20 | 4Q20 2020 GDP -5.4 15.5 5.2 3.2 1255 20 15.5 15 4.1 12.1 10 Consumption -6.9 19.2 9.5 7.1 6.5 5 Investment -12.8 24.1 8.9 3.4 4.3 2020 2021 Banorte -9.0 4.1 15.2 Enc. Citibanamex -9.0 3.5 3.2 0.5 0.8 0.7 1.0 0.6 Enc. Banxico -9.0 3.4 1.2 Government spending -3.7 -2.3 -2.6 1.5 -1.8 -5 SHCP -8.0 4.6 -1.4 -17.0 -5.4 -10 -7.4 8.6 Banxico -8.9 3.3 Exports -2.8 31.9 5.4 2.8 7.7 -15 Imports -7.0 25.3 17.6 9.5 10.2 -20 -18.7 % 9/9 -25 GDP 0.8 0.7 1.0 0.6 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1% q/q IMEF % y/y Bloomberg -9.0 3.5 Reuters -9.9 3.0 -9.0 3.5 *Note: Dotted lines indicate forecasts Source: INEGI, Banorte Eco Hist DB NIM Rev C/I NI Div ROE LD Dep Loan ICAP BAP Guid Mkt App GRUPO FINANCIERO BANORTE#33 -20 1896 -15 -10 -5 10 Mexico GDP % y/y 15 M 0 5 1899 1902 1905 1908 1911 1914 1917 1920 1923 -14.0 Source: 1895-1980 (Historical archive from Jonathan Heath); 1980-To date (INEGI). Eco Hist DB NIM Rev C/I 1926 IN 1929 1932 The fall in 2020's GDP would be the steepest since 1932, with a moderate recovery in 2021 1935 1938 1941 1944 Div ROE LD Dep Loan рит му T 4.1 ப 1947 1950 1953 1956 1959 1962 1965 1968 1971 1974 1977 1980 1983 1986 1989 1992 1995 1998 2001 2004 2007 2010 2013 2016 ICAP BAP Guid Mkt App GRUPO FINANCIERO BANORTE 2019 -9.0#4However, the great difference to those are inflation levels Nominal governmental interest rate, inflation and annual exchange rate depreciation % 300 250 200 150 100 50 0 -50 Feb-80 Dec-85 Interest rate Inflation Oct-91 Aug-97 -Annual exchange rate depreciation Jun-03 Apr-09 4 Source: Banorte with data from INEGI and Banxico *Interest rate (1980-Sep 1982: CPP; 1982-...: Cetes; Exchange rate: 1980-Nov 1991: 'para solventar obligaciones en moneda extranjera'; Nov 1991-...: Fix) Eco Hist DB NIM Rev C/I NI Div ROE LD Dep Loan ICAP BAP Guid Mkt App Feb-15 Dec-20 GRUPO FINANCIERO BANORTE#55 10 5 0 Banking sector KPI's Capitalization ratio % of net capital / credit risk assets 40 35 23 224 20 15 30 25 21.12 Capitalization ratio Banking sector's average Non performing loans ratio % of total loan portfolio 10 8 60 4 2 Consumer ⚫Mortgage -Corporate V5.0 3.2 1.9 0 17.21 Jan.-07 Apr.-09 Aug.-11 Dec.-13 Mar.-16 Jul.-18 Nov.-20 Source: CNBV, Banorte with data as of Nov.-20 Banamex Invex Banregio Monex CIBanco Banco Base HSBC Scotiabank Banca Mifel BIAfirme Intercam Banco Accendo Banco Sabadell Afirme Ve por Más Actinver Inmobiliario Mexicano Autofin Bankaool ABC Capital Coverage ratio % of loan loss provisions/NPL Eco Hist DB NIM Rev C/I NI Div ROE LD Dep Loan ICAP BAP Guid Mkt App 200 193.3 180 160 140 153.7 120 100 T Dec.-07 Jan.-10 Mar.-12 May.-14 Jul.-16 Sep.-18 Nov.-20 GRUPO FINANCIERO BANORTE#66 'Recovery plan' to return back to 'normal' from COVID-19 ■ Four-month advance to the senior citizen pension Support for: - Fishermen Programs from Development Banks MX$ billion, US$ million, % of GDP Institution Measure MXN USD* % of GDP** Children with disabilities Total 61.1 2,535 0.25 Benito Juárez Universities Savings for people without access to financial services Agriculture Upkeep for schools ■ Programs for: Apprenticeships BANOBRAS Liquidity support for companies in the infrastructure sector 6.0 249 0.02 NAFIN / BANCOMEXT NAFIN / BANCOMEXT Liquidity support for "first-floor" financial institutions 10.0 415 0.04 Liquidity support for "second-floor" financial institutions 20.0 830 0.08 Internet for everyone Guarantee prices NAFIN / BANCOMEXT businesspeople Guarantees program for companies and 6.3 261 0.03 Toluca - Mexico City Train SHF Stabilization of syndicated loans provided to construction companies 8.8 365 0.04 Construction of branches of El Banco del Bienestar SHF ☐ Recruitment of 31 thousand new elements for the Army, Navy and National Guard SHF Additional financing for "second-floor" bridge loans Small loans for housing improvements 6.0 249 0.02 2.0 83 0.01 ■ Rural concrete roads FND Attention scheme for the restructuring of debtors' loans TBD New credits and refinancing from INFONAVIT FND Measures to support the Rural Economy TBD ☐ 'Sowing Life' program will extend to 200 thousand farmers Banco del Expedited returns of VAT to taxpayers Clients' Program 2.0 83 0.01 Bienestar ☐ ◉ No increase to taxes or adoption of counter-cyclical measures or corporate bailouts to businesses or banks Elimination of 10 deputy ministries Reduction of 25% in wages of high-ranking workers (Deputy Director and upwards) and end-of-year bonus elimination Savings of 75% in general spending and supplies categories Source: Banorte and Presentation from Beatriz Leycegui (SAI, April 15, 2020) USD/MXN: 24.10 **Nominal GDP in 2019 FOCIR Banco del Outreach Program TBD Bienestar Banco del Reactivation of credit demand TBD Bienestar Extension of the period to divest affected TBD companies FOCIR Suspension of commission payments for the management of FICAS TBD FOCIR Emerging Program "COVID 2020 - FOCIR-SE" TBD Eco Hist DB NIM Rev C/I NI Div ROE LD Dep Loan ICAP BAP Guid Mkt App GRUPO FINANCIERO BANORTE#77 ...and strengthen credit channels Additional measures announced by Banxico to promote liquidity and strengthen credit channels MX$ billion, US$ billion, % of GDP Measure Total¹ Provide liquidity and reestablish operational conditions in money markets (1) Reduction of the Monetary Regulation Deposit (2) Adjustments to the Ordinary Additional Liquidity Facility interest rate (3) Increasing liquidity during trading hours to facilitate the optimal functioning of financial markets and payment systems (4) Extending the securities eligible for the Ordinary Additional Liquidity Facility (5) Extending the counterparts eligible for the Ordinary Additional Liquidity Facility (6) Temporary securities swap window Promote the orderly behavior in governmental and corporate bond markets (7) Strengthening of the Government Debt Market Makers Program (8) Government securities term repurchase window (9) Swap of government securities (10) Securities Repurchase Facility Strengthen credit channels (11) Provision of resources to banking institutions to channel credit to MSMEs and individuals affected by the COVID-19 pandemic (12) Collateralized financing facility for commercial banks with corporate loans, to finance MSMEs Promote the orderly behavior of the foreign exchange market (13) Non-deliverable FX forwards program expansion (14) USD credit auctions (financed with the swap line facility with the Federal Reserve) (15) Foreign exchange hedges settled by differences in USD Note: 1. The total only adds up facilities for which we have information; 2. Using an exchange rate of USD/MXN 22.50 NA = Not available Source: Banxico, Banorte MXN 800.0 USD % of GDP 35.6 3.3 50.0 2.2 0.2 100.0 4.4 0.4 -- 100.0 4.4 0.4 100.0 4.4 0.4 100.0 4.4 0.4 250.0 11.1 1.0 100.0 4.4 0.4 Eco Hist DB NIM Rev C/I NI Div ROE LD Dep Loan ICAP BAP Guid Mkt App BANORTE GRUPO FINANCIERO#8Initial impact of COVID-19 lockdowns in Mexico and the path towards recovery IMEF's PMIS Diffusion index Industrial production Index base 100= 2013, sa 120 110 56 54 SN 52 50 48.7 100 48 48.1 46 Auto production % y/y 100 80 200 60 40 20 20 18.4 4420 90 0 -20 80 -Total -40 Manufacturing -60 38 -Manufacturing 36 Non-manufacturing 34 Dec-15 70 -Mining -80 Construction 60 -100 Jun-18 Dec-20 Nov-10 Nov-15 Nov-20 Dec-06 Dec-13 Dec-20 8 Eco Hist DB NIM Rev C/I NI Div ROE LD Dep Loan ICAP BAP Guid Mkt App Source: INEGI, IMEF, ANTAD GRUPO FINANCIERO BANORTE#99 Initial impact of COVID-19 lockdowns in Mexico and the path towards recovery Formal job creation Thousands, seasonally adjusted* 200 100 97 40 Auto sales % y/y 30 20 10 ANTAD's same-store sales % y/y in nominal terms 15 10 5 0 0 0 -100 -5 -10 -6.2 -10 -200 NSA: -20 -19.4 April: -555 -15 May: -345 -30 -300 -20 June: -83 July: -4 -40 -25 -400 August: +92 Dec-06 Aug-11 Apr-16 -22.9 Dec-20 September: +114 -50 Apr May Jun Jul Aug Sep Oct Nov Dec -500 October: +201 November: +149 -60 -493 Supermarkets 8.7 7.0 70 24 2.4 3.1 2.1 0.7 4.8 2.6 2.8 -600 Jun-94 -70 Apr-03 Feb-12 Dec-20 Dec-06 Aug-11 Apr-16 -64.5 Dec-20 Departmental -72.7 -49.6 -44.6 -22.6 -1.8 3.5 -0.9 7.4 -9.8 *Note: Seasonally adjusted by Banorte with the ARIMA X-12 method Source: IMSS, STPS, INEGI and ANTAD Specialized -17.5 -16.3 -14.5 -9.9 -8.0 -3.5 55 4.1 -2.5 -9.7 40 Eco Hist DB NIM Rev C/I NI Div ROE LD Dep Loan ICAP BAP Guid Mkt App GRUPO FINANCIERO BANORTE#1010 We expect Banxico to resume its easing cycle in February Inflation forecasts % y/y, quarterly average Banxico's Hawk-o-meter Reference rate forecast % Headline Banxico 3.6 Banorte 3.0 1T21 2T21 3T21 4T21 Dovish 09 4.3 3.1 3.3 3.8 2.9 3.3 9 Hawkish 8 00 2019: 7.25 7 Core JH GE GB ADL IE Banxico Banorte 3.9 3.6 3.0 3.1 6 3.6 3.2 2.9 3.1 Inflation forecast % y/y, bi-weekly frequency Net flows of foreigners holdings 5.0 MX$ billion 100 5 Headline Core ■M Bonos Cetes 4.5 3.8 2021: 4.0 3.7 3.5 3 3.0 -100 2020 4.25 2021: 3.50 2020: 3.1 2.5 3.2 2.0 -200 2 Dec-20 Apr-21 Aug-21 Dec-21 Jan-20 Apr-20 Aug-20 Nov-20 Dec-15 Dec-17 Dec-19 Dec-21 Source: Banxico, INEGI, Banorte Eco Hist DB NIM Rev C/I NI Div ROE LD Dep Loan ICAP BAP Guid Mkt App GRUPO FINANCIERO BANORTE#11Mexican peso trading near "fair value" MXN fair value* and current level USD/MXN 26 24 24 22 20 20 18 16 14 12 Nominal -Fair Value USD/MXN forecast USD/MXN 24.50 23.50 Forecasts 22.50 21.60 21.50 20.50 19.50 20.90 19.80 10 18.50 Jan-20 Apr-20 Aug-20 19.00 Dec-20 Apr-21 Jul-21 Nov-21 2005 2007 2009 2010 2012 2013 2015 2017 2018 2020 Source: Banorte with data from Reuters and J.P. Morgan *Approximated through the deviation relative to the 5-year moving average of the real effective Exchange rate, Bloomberg 11 Eco Hist DB NIM Rev C/I NI Div ROE LD Dep Loan ICAP BAP Guid Mkt App GRUPO FINANCIERO BANORTE#1212 Public debt will increase around 10%-pts of GDP in 2020, resuming its downward trend in 2021 Public debt¹ % of GDP 60 50 50 40 40 30 20 20 10 10 0 37.2 37.2 36 36 34.8 33.2 32.9 32.3 30.6 30.9 31.1 29.5 28.8 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 40 40 48.7 46.5 45.7 44.9 44.8 42.6 (1) 54.7 53.7 (2) 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Source: MoF 1. HBPSBR - Historical Balance of the Public Sector Borrowing Requirements. Due to... Exchange rate depreciation (30% of total debt is foreign denominated); Fall in revenues, surpassing spending cuts, with special assignation due to the health crisis; (3) Lower oil output relative to expectations, and (4) Fall in nominal GDP for the first time since 1980 Credit ratings Fitch Ratings S&P Global MOODY'S BBB+ BBB+ Baa1 BBB BBB Baa2 BBB- BBB- Baa3 BB+ BB+ Ba1 BB BB Ba2 BB- BB- Ba3 Eco Hist DB NIM Rev C/I NI Div ROE LD Dep Loan ICAP BAP Guid Mkt App GRUPO FINANCIERO BANORTE#1313 Attention on pending law reform proposals and mid-term elections Pending law reform proposals ◆ Federal Labor Law - Outsourcing Governorship polls %, El Financiero (December 2020) Morena PAN PRI RSP Lower House polls %, Consulta Mitofsky (December 2020) PES 1.9 Fuerza Social 1.3 Banco de México Law - Foreign ZAC 30 Exchange PT 1.4 2.3 TLAX 18 24 Decriminalization of marihuana SON 31 Verde 2.0 PRI Otros 5.2 MC 3.8 PRD 3.8 SIN 27 New law of the General Attorney's Office Morena 41.1 15.6 SLP 14 15 29 PAN QRO 29 34 21 21.6 ♦ Wage Law for public servants NL 26 33 NAY 35 32 Probable coalitions in 2021 MICH 34 GRO 31 (PAN) PR COL 30 PRD CHIH 26 CAMP 24 BCS 26 24 morena La esperanza de México. VERDE PT BC 33 0 25 50 75 100 Other elections in 2021 ◆ Elections for State Legislatures in 30 states (ex. Q. Roo and Coah), with 1,063 representatives ◆ Elections governments for 1,926 municipal ♦ In total, there will be elections for 21,383 positions (including Governorships and the Lower House) Source: Forbes, El Financiero, Consulta Mitofsky, INE Eco Hist DB NIM Rev C/I NI Div ROE LD Dep Loan ICAP BAP Guid Mkt App GRUPO FINANCIERO BANORTE#1414 2021 mid-term elections in Mexico # State Current Governor Party Approval rate % of GDP % of population % of territory 1 Baja California Jaime Bonilla Valdez Morena 43.0% 3.1 2.8 3.6 2 Baja California Sur Carlos Mendoza Davis PAN 55.3% 1.0 0.6 3.8 3 Campeche Carlos Miguel Aysa González PRI 22.9% 3.0 0.7 2.7 4 Chihuahua Javier Corral Jurado PAN 23.9% 3.2 3.0 12.9 5 Colima 6 Guerrero 7 Michoacán 8 Nayarit José Ignacio Peralta Sánchez PRI 23.1% 0.6 0.6 0.3 Héctor Antonio Astudillo Flores PRI; PVEM 27.5% 1.4 3.0 3.3 Silvano Aureoles Conejo PRD 12.4% 2.4 3.9 3.1 Antonio Echevarría García PAN 45.1% 0.7 1.0 1.4 9 Nuevo León Jaime Heliodoro Rodríguez Calderón Independiente 16.9% 7.5 4.1 3.4 10 Querétaro Francisco Domínguez Servién PAN 41.1% 2.3 1.6 0.6 11 San Luis Potosí Juan Manuel Carreras López PRI 22.9% 2.1 2.3 3.3 12 Sinaloa Quirino Ordaz Coppel PRI; PVEM 59.3% 2.2 2.5 3.0 13 Sonora Claudia Artemisa Pavlovich Arellano PRI 34.0% 3.3 2.4 9.6 14 Tlaxcala Marco Antonio Mena Rodríguez PRI 28.1% 0.6 1.0 0.2 15 Zacatecas Alejandro Tello Cristerna PRI 32.6% 0.9 1.3 3.9 Source: Banorte with data from local and state governments, Consulta Mitofsky (October 2019) and INEGI 1.Will renew local congresses: Aguascalientes, Durango and Hidalgo; Will renew county governments: Coahuila, Quintana Roo and Tamaulipas; Renew both: Mexico City, Chiapas, State of Mexico, Guanajuato, Jalisco, Morelos, Oaxaca, Puebla, Tabasco, Veracruz and Yucatán Eco Hist DB NIM Rev C/I NI Div ROE LD Dep Loan ICAP BAP Guid Mkt App GRUPO FINANCIERO BANORTE#15About Banorte 15 Eco Hist DB NIM Rev C/I NI Div ROE LD Dep Loan ICAP BAP Guid Mkt App GRUPO FINANCIERO BANORTE#16GFNORTE - a Leading and Profitable Financial Franchise in Mexico 1 Adequate business mix Strong retail, wholesale and premium banking platforms, as well as leading insurance and pension fund management units, serving more than 21 million clients. 2 Sound Fundamentals Increasing profitability, solid asset quality, high liquidity and strong capitalization ratios. 3 Solid corporate governance Independent Board Members represent 71% of total board composition and best practices in minority shareholder right protection. One of the most public companies in Mexico GFNorte is top 5 in trading at BMV, and has the highest Relative Weighting on S&P/BMV IPC Index, rated OTCQX Best 50 Global Market capitalization of US 16 billion, float of almost 86% and more than 4,000 investors, including large global institutional funds. Investment grade ratings by S&P, Fitch, Moody's and HR Ratings. 16 Eco Hist DB NIM Rev C/I NI Div ROE LD Dep Loan ICAP BAP Guid Mkt App 8 GRUPO FINANCIERO BANORTE#17Regional Bank 1899 Establishment From Regional Bank to Second Largest National Financial Group 1982-1992 Nationalization Privatization Business Diversification Inorganic Growth EAN 20 | 20 Client Segmentation IT: central DB, multichannel Profitability 1995 2000 2005 2010 2015 2020 Afin Bancentro Banpaís Bancrecer Banorte Generali 50% INB Afore XXI IMSS 50% IXE G.F. Interacciones Afore Bancomer Banorte-General ¡100% Rappi J.V. 17 Eco Hist DB NIM Rev C/I NI Div ROE LD Dep Loan ICAP BAP Guid Mkt App GRUPO FINANCIERO BANORTE#18Strategy 20| 20 Perfect Vision PRODUCTS & SOLUTIONS Deposits & Loans Insurances Pension Annuities Client Segmentation 12 million ex-Afore clients DISTRIBUTION CHANNELS Mobile Internet Revenues ATM 9 million Afore clients ■ Structured Info & Learning (Central DB & Watson) Contact Center Digital Bank Wealth Mngt. Branches Behavior understanding Analitics Cost PROCESSES Account opening - Credit Analisis 20/20 Next Best Offer - Next Best Action 18 Eco Hist DB NIM Rev C/I NI Div ROE LD Dep Loan ICAP BAP Guid Mkt App GRUPO FINANCIERO BANORTE#1919 Diversified Business Mix Banco Mercantil del Norte 98.2618% Banorte Financial Services (Uniteller) 100.0% Casa de Bolsa Banorte Operadora de Fondos Banorte 99.9999% 99.9999% GRUPO FINANCIERO BANORTE Banorte Ahorro y Previsión 99.9999% Arrendadora y Factor Banorte** 99.9058% Other Subsidiaries* (Fondos de Inversión) Seguros Banorte Pensiones Banorte 100% 99.9999% 99.9999% * Includes: Almacenadora Banorte; Ixe Servicios; Fundación Banorte A.B.P. ** Solida merges Arrendadora y Factor Banorte on July 1st, 2020 Banorte Futuro 98.22% Afore XXI Banorte 50.0% Eco Hist DB NIM Rev C/I NI Div ROE LD Dep Loan ICAP BAP Guid Mkt App GRUPO FINANCIERO BANORTE#20Business Mix - Diversified Net Income and Balance in Profitability Net Income Mix 2020 $30.5 b Other Finance Companies 2% Million pesos Bank 4Q20 q/q y/y 2020 3,833 (41%) (43%) 20,029 yly ROE 2020 (26%) 16.6% 20.6%* Annuities. 5% Broker Dealer & 356 (0%) (6%) 1,492 18% 27.6% Mutual Funds Insurance 13% Insurance Annuities Afore BAP (Holding) 471 (37%) (37%) 503 48% 85% 475 5% 32% 9 15% 452% 3,846 (2%) 42.4% 1,551 51% 27.7% 1,873 16% 15.6% Pension Fund 6% Other Finance Co. GFNorte 39 N.A. 88 (64%) (49%) 641 (18%) 5,966 (33%) (34%) 30,508 (16%) 14.8% 17.1%* Broker Dealer 5% Excluding the effect of additional provisions in 2Q20 AND 4Q20 ** Afore ROTE 49.4% 20 20 Eco Hist DB NIM Rev C/I NI Div ROE LD Dep Loan ICAP BAP Guid Mkt App Holding -3% Bank 66% GRUPO FINANCIERO BANORTE#2121 Net Interest Margin Moving in the Right Direction NIM 5.9% 5.9% 6.0% 5.5% 5.0% 4.9% 4.7% 4.4% 4.5% 5.5% 5.6% 5.6% 5.3% 5.7% 5.6% 5.2% 5.0% 5.1% 4.8% 4.5% 4.1% 4.1% 4.0% 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 4Q19 1Q20 2Q20 3Q20 4Q20 NIM NIM ex Insurance & Annuities 4.9bn on 2.4bn on NIM (Post-Provision) advanced advanced provisions provisions 5.0% 4.6% 4.5% 4.3% 4.4% 4.4% 4.4% 4.3% *Recurring 4.5% 3.9% 4.0% 3.7% 3.3% 3.4% 3.4% 3.5% 3.5% 3.9% 3.3% 3.5% 3.1% 3.0% 2.5% 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 4Q19 1Q20 2Q20 3Q20 4Q20 Eco Hist DB NIM Rev C/I NI Div ROE LD Dep Loan ICAP BAP Guid Mkt App GRUPO FINANCIERO BANORTE#22Fees on Services Affected But Recovering Fees recovering due to better economic activity Fees charged +19% q/q: Core banking fees +11% q/q Electronic banking services fees +28% q/q Remote digital transactions lead growth, +40% q/q in POS, +19% in mobile. POS's Transactions Millions 95 Millions +40% 89.47 120 q/q 85 Mobile's Monetary Transactions +19% q/q 110 123 Billion Pesos +19% Fees 6.8 6.1 5.9 5.7 6.0 5.4 5.0 4.0 3.0 2.0 3.2 2.7 2.7 2.6 2.3 1.0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 2019 2020 Fees Charged ■Fees Paid Core Banking Fees 4,075 75 100 92 65 58.28 90 56 83 54 Million Pesos 4,000 3,500 3,669 3,415 3,315 +11% 55 77 80 3,000 42 45 70 3,012 35 60 2,500 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Jan-20 Apr-20 Jul-20 oct-20 Jan-20 Apr-20 Jul-20 oct-20 2019 2020 22 22 Eco Hist DB NIM Rev C/I NI Div ROE LD Dep Loan ICAP BAP Guid Mkt App 8 GRUPO FINANCIERO BANORTE#23Improving Efficiency Cost to Income 56.0% 54.0% 55% 52.0% 48.5% 47.9% Recurring 50% 46.6% 40.0% 39.7% 44.9% 42.8% 45% 41.4% 41.7% 40.6% 39.0% 39.1% 38.9% 38.8% 40% 35% 2011 2012 2013 2014 2015 2016 2017 2018* 2019* 2020 4Q19 1Q20 2Q20 3Q20 4Q20 -0% +9%* +19%* 25,000 Revenues! +13% Recurring Rev. +10% 20,000 Expenses +13% +5% 15,000 +11% +8% +7% +5% +4% +4% +7% 10,000 5,000 23 23 0 I 2011 2012 2013 2014 2015 Eco Hist DB NIM Rev C/I NI Div ROE LD I I 2016 2017 I I * Recurring 2018 2019 2020 Dep Loan ICAP BAP Guid Mkt App GRUPO FINANCIERO B BANORTE#24Strong Net Income Net Income Million Pesos +1% CAGR 2011-2020 +15% * Recurring YOY Reported (16%) YoY Recurring (15%) 36,528 10,500 YOY 37,500 35,583 9,867 10,000 31,958 35,345 9,500 32,500 9,010 9,118 9,000 30,311 27,500 23,908 22,500 19,308 17,108 17,500 15,228 13,508 10,888 12,500 8,517 7,500 30,508 8,500 8,000 8,906 (14%) q/q 7,692 7,500 7,000 6,500 6,000 5,500 5,966 6,518 (34%) yly 5,000 2011 2012 2013 2014 2015 2016 2017 2018* 2019* 2020 4Q19 1Q20 2Q20 3Q20 4Q20 24 24 Eco Hist DB NIM Rev C/I NI Div ROE LD Dep Loan ICAP BAP Guid Mkt App GRUPO FINANCIERO BANORTE#25Constant Positive Growth in Profitability ROA 4.9bn on advanced 2.4bn on advanced provisions provisions 2.5% 2.30% 2.28% 2.18% 2.21% 2.05% 1.86% 2.22% 2.25% *Recurring 2.0% 2.07% 1.72% 1.60% 1.99% 1.46% 1.47% *Recurring 1.40% 1.76% 1.5% 1.30% 1.10% 1.49% 1.0% 2011 2012 2013 2014 2015 2016 2017 2018* 2019* 2020* 4Q19 1Q20 2Q20 1.33% 3Q20 4Q20 ROE 22% -20.3% 20.1% 19.0% 18.8% 19% 17.0% 17.1% 16.9% 19.3% 19.6% 19.6% 16% 14.1% 14.3% 14.2% 14.1% *Recurring *Recurring 13.9% 13.2% 13.3% 14.8% 13% 10.9% 13.0% 10% 2011 2012 2013 2014 2015 2016 2017 2018* 2019* 2020* 4Q19 1Q20 2Q20 3Q20 4Q20 25 25 Eco Hist DB NIM Rev C/I NI Div ROE LD Dep Loan ICAP BAP Guid Mkt App GRUPO FINANCIERO 8 BANORTE#26Digital Transformation 26 26 Eco Hist DB NIM Rev C/I NI Div ROE LD Dep Loan ICAP BAP Guid Mkt App GRUPO FINANCIERO BANORTE#27Fast Moving to Self-service with Quality Móvil Web NPS 4Q 69 67 Served by staff Self-service 10 6 5 4 3 ATM 2 WEB and Mobile 7 816 Transaction Change Dec vs Feb Account statement 522% Check deposit 1,108% 3 Mobile bill payment 99% 4 Transfers 110% Credit card mobile payment 65% 6 Credit/debit card mobile dispute 52% 7 Branch Temporary credit card lock/unlock 94% Contact Center 8 Credit card mobile activation 38% 9 Account and transaction balance 89% Physical Remote 10 Mobile top-up 63% 22 27 Eco Hist DB NIM Rev C/I NI Div ROE LD Dep Loan ICAP BAP Guid Mkt App 8 GRUPO FINANCIERO BANORTE#28Digital Transformation Gaining Share 4Q19 Transactions (Tx) BanorteMovil Transactions +43% yly 332.2 4Q20 Branches 350 3.5% WEB 300 14% 232.1 250 200 150 94.2 36% Mobile 100 50 18% ATM 0 1Q 3Q 2017 2018 1Q 3Q 1Q 3Q 1Q 3Q 2019 2020 5% 26% POS 26% 19% 1% 1% Correspondents 1% Call Center 1% 22% 26% Mobile as a Point of Sale ☑Digital Deposit Account G Credit Card Payroll loans Time Deposits Customers Using Digital (millions) 4.7 4.5 4.2 4.3 4.3 4.1 3.9 3.5 Mutual Funds Insurance 1Q19 2Q 3Q 4Q 1Q20 2Q 3Q 4Q 28 Eco Hist DB NIM Rev C/I NI Div ROE LD Dep Loan ICAP BAP Guid Mkt App B GRUPO FINANCIERO BANORTE#29Leaders in the Business & Infrastructure for the New Payments Market Beyond recovery on POS's transactions pre COVID-19 with emphasis on e-commerce POS's Transactions The best DIGITAL PLATFORM for aggregators Millions 95 85 75 65 58 54 56 55 45 42 35 Jan-20 Apr-20 Jul-20 Oct-20 +40% 89 q/q CoDiTest Pilot and further development underway recargabl werewe ageb recargable ana set poehratotruste gable amajosrecargable ama amazon 7 Najuofesie gebe recargable amatonreck roof aaneen cargable amazonrecary CoDi masterco mercado libre PayPal clip 29 29 Eco Hist DB NIM Rev C/I NI Div ROE LD Dep Loan ICAP BAP Guid Mkt App GRUPO FINANCIERO BANORTE#30Loans & Deposits 30 30 Eco Hist DB NIM Rev C/I NI Div ROE LD Dep Loan ICAP BAP Guid Mkt App GRUPO FINANCIERO BANORTE#31Healthy Funding & Loan Portfolio Structure 2018 Bank Deposits Loan Portfolio $759 bn Senior Unsec. Debt 2% Money Market 15% 29% 54% Demand Time $777 bn 4Q20 $843 bn Senior Unsec. Debt 5% Money Market 6% Time 26% $802 bn 63% Demand US 42.4 bn US 40.3 bn Consumer 15% Consumer 15% Government 20% Government 25% Mortgage 20% Mortgage 23% 22% Commercial 18% Corporate 24% Commercial 18% Corporate 31 Eco Hist DB NIM Rev C/I NI Div ROE LD Dep Loan ICAP BAP Guid Mkt App GRUPO FINANCIERO BANORTE#32Loyal Deposits Base Billion Pesos Deposits CAGR: +10% 751 729 706 751 YoY 681 700 -Time Demand Core Deposits 667 +13% 637 590 551 600 533 -533 509 509 YOY +12% 482 500 436 454 438 +22% 414 384 397 384 400 -336- -351- 306 300 300 255. 223 229 211 217 227 224 220 190 194 158 168 200 +7% 217 YoY (5%) 116 124 129 136 100 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 1Q20 2Q20 3Q20 4Q20 MIX Time 38% Demand 62% 2013 4Q19 4Q20 Demand 438 22% 533 Time 229 (5%) 217 TOTAL 667 13% 751 Time 29% Demand 71% 4Q20 32 32 Eco Hist DB NIM Rev C/I NI Div ROE LD Dep Loan ICAP BAP Guid Mkt App B GRUPO FINANCIERO BANORTE#33Continued Growth in Performing Loan Book, Special Focus on Consumer US 40.3 bn US 15.3 bn Total Loan Portfolio Consumer Portfolio 802 777 780 792 798 802 304 800 763 288 291 293 301 304 300 269 241 700 56616 250 203 600 518 176 200 472 158 500 401 425 CAGR: +10% 140 150 118 99 350 CAGR: +13% 400 100 300 50 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 1Q 2Q 3Q 4Q 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 1Q 2Q 3Q 4Q Billion Pesos 4Q19 3Q20 4Q20 QoQ YOY Mortgage 170 183 188 3% 10% Car Loans 27 27 28 3% 6% Credit Cards 40 39 37 (5%) (8%) Payroll 51 52 52 (1%) 1% Consumer 288 301 304 1% 6% Commercial 173 188 193 2% 12% Corporate 128 147 143 (2%) 12% Government 174 163 162 (1%) (7%) TOTAL 763 798 802 0.5% 5% 33 33 Eco Hist DB NIM Rev C/I NI Div ROE LD Dep Loan ICAP BAP Guid Mkt App GRUPO FINANCIERO BANORTE#34Sound Asset Quality 3.5% 2.5% 2.1% 1.9% 1.5% 0.5% NPL Ratio 3.1% 2.9% Anticipated Write-offs reducing NPL 2.2% 14.6 bn 10.8 bn 2.0% 1.8% 1.7% 1.7% 1.7% 1.1% 1.2% 1.1% 0.8% 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 1Q20 2Q20 3Q20 4Q20 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 Credit Cards Payroll Car Loans Mortgage 5.5% 5.9% 5.9% 6.0% 5.4% 5.8% 5.5% 3.1% 7.8% 3.7% 3.0% 3.8% 3.4% 3.3% 2.7% 3.3% 1.7% 2.7% 1.1% 0.9% 1.0% 1.0% 1.0% 0.9% 1.2% 0.7% 0.6% 0.9% 1.0% 1.0% 1.1% 1.1% 1.2% 1.3% 1.0% 0.9% Commercial 1.9% 2.1% 2.4% 2.5% 2.4% 2.3% 1.1% 0.9% 1.2% SME 5.5% 5.9% 6.4% 6.5% 6.6% 7.0% 3.7% 1.9% 2.0% Commercial ex-SME 0.9% 1.1% 1.3% 1.6% 1.3% 1.2% 0.6% 0.7% 1.0% Corporate 2.9% 2.9% 3.0% 2.8% 1.8% 1.8% 0.3% 0.3% 0.1% Government 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.1% 0.2% 0.0% Total GFNorte 1.7% 1.7% 1.9% 1.9% 1.7% 1.7% 1.2% 0.8% 1.1% 44 34 Eco Hist DB NIM Rev C/I NI Div ROE LD Dep Loan ICAP BAP Guid Mkt App GRUPO FINANCIERO BANORTE#3535 Sound Asset Quality 270% 240% Coverage Ratio 224% 201% 265% 224% 210% 180% 143% 138% 139% 142% 138% 140% 150% 129% 116% 105% 107% 120% 90% 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 1Q20 2Q20 3Q20 4Q20 Cost of Risk 4.5% 4.0% Current Prev. Criteria Recurring 3.5% 2.8% 3.0% 2.3% 2.2% 2.5% -2.0% 2.0% 2.2% 1.5% 1.8% 1.8% 1.0% 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 1Q20 2Q20 4.2% W 4Q20 3.0% .6% 1.8% 3Q20 * Cost of Risk: Provisions / Average Total loans (Performing + Past Due), On current criteria all the recoveries are register on Provisions (net) Eco Hist DB NIM Rev C/I NI Div ROE LD Dep Loan ICAP BAP Guid Mkt App GRUPO FINANCIERO BANORTE#36Strong Capital Position Capital Adequacy Ratio Basel III 21.1% 20.0% 20.3% 20.2% 19.7% 19.0% 18.1% 18.6% 1.0% Tier 2 17.2% 17.2% 15.1% 15.3% 15.3% 14.6% 5.3% Total Tier 1 19.2% Dividends already in GFNorte's balance sheet 11.40% 9.40% 9.70% 13.8% 11.5% 12.7% 12.4% 12.1% 11.9% 12.7% 13.1% 13.3% 12.7% 13.2% 13.7% 13.9% CET1 12.2% 7.90% 7.70% 6.20% Temporary 2013 2014 2015 2016 2017 2018 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 RWA +17% +11% +8% +16% (2%) +19% +20% +19% +5% +7% +9% +15% +17% +17% *RWA= Risk Weighted Assets annual growth 36 Eco Hist DB NIM Rev C/I NI Div ROE LD Dep Loan ICAP BAP Guid Mkt App Minimum Regulatory Ratios waiver GRUPO FINANCIERO BANORTE#3737 BAP: Long Term Savings Business Million Pesos 4Q20 2020 YOY 4Q20 2020 YOY Considering Banorte Futuro Insurance Net Income 452 3,775 (3%) 946 5,719 3% Equity 10,357 10,357 56% 28,325 28,325 25% Assets 47,456 47,456 25% 65,038 65,038 21% Premiums 5,104 26,911 1% 5,104 26,911 1% ROE 17.8% 42.4% (8.4) pp 13.8% 22.4% (1.6) pp AFORE Net Income 968 3,814 16% Equity 25,551 25,551 0% Assets 28,049 28,049 1% AUM 1,016,188 1,016,188 15% ROE 15.4% 15.6% 2.1 pp ROTE 46.7% 49.4% Annuities Net Income 503 1,551 51% Equity 6,448 6,448 32% Assets 167,078 167,078 23% Premiums ROE 4,615 14,334 25% 32.4% 27.7% 4.1 pp Eco Hist DB NIM Rev C/I NI Div ROE LD Dep Loan ICAP BAP Guid Mkt App BANORTE GRUPO FINANCIERO#382021 Guidance Loan Growth NIM Contraction Expense Growth Efficiency Cost of Risk Tax Rate Net Income ROE Bank ROE Guidance 6% - 8% (15) - (30bps) 3.5% -4.2% 39.5% 41.0% 2.1% -2.3% 26% -27% 33.5-35.0 15% -16% 18% -19% GDP Inflation Reference Rate Macro Estimates for 2021 3% -4% 4.0% 4.00% 38 Eco Hist DB NIM Rev C/I NI Div ROE TI LD Dep Loan ICAP BAP Guid Mkt App GRUPO FINANCIERO BANORTE#39Market Presence 39 Eco Hist DB NIM Rev C/I NI Div ROE LD Dep Loan ICAP BAP Guid Mkt App GRUPO FINANCIERO BANORTE#40Deposit & Loan Market Share Inbursa 3% ScotiaBank 6% Source: CNBV. 40 Others 18% Deposits BBVA 23% HSBC 8% 3° Santander 13% Banorte 14% Nov 2020 Others 18% Inbursa Loans BBVA 24% 4% HSBC 7% CitiBanamex 15% ScotiaBank 8% 2° Banorte 15% CitiBanamex 11% Santander 13% Eco Hist DB NIM Rev C/I NI Div ROE LD Dep Loan ICAP BAP Guid Mkt App GRUPO FINANCIERO BANORTE#4141 Market Share by Segment Consumer C. Cards Mortgage Commercial Government Deposits Nov-19 Nov-20 Nov-19 Nov-20 Nov-19 Nov-20 Nov-19 Nov-20 Nov-19 Nov-20 Nov-19 Nov-20 Banorte 12.0% 13.4% 9.7% 10.2% 19.2% 19.5% 9.8% 11.6% 31.5% 28.2% 13.4% 13.6% BBVA 29.3% 29.8% 27.5% 29.0% 26.0% 25.8% 19.2% 19.6% 25.5% 29.4% 22.9% 23.2% CitiBanamex 13.5% 12.0% 27.1% 25.4% 9.7% 8.1% 11.7% 10.7% 5.7% 7.5% 14.4% 15.4% Santander 8.8% 9.8% 14.0% 14.0% 16.5% 17.0% 13.2% 12.4% 12.0% 13.3% 13.7% 13.1% HSBC 6.6% 6.4% 5.6% 5.6% 7.0% 7.8% 8.8% 7.2% 6.2% 5.9% 8.0% 7.6% ScotiaBank 5.2% 5.1% 2.8% 2.7% 15.0% 15.3% 7.3% 7.5% 2.7% 1.4% 6.4% 6.2% Inbursa 4.4% 3.4% 4.1% 3.9% 0.6% 0.5% 0.0% 0.0% 4.3% 2.3% 2.9% 3.0% Others 20.3% 20.0% 9.1% 9.3% 6.1% 6.0% 29.9% 30.9% 12.2% 12.0% 18.2% 18.0% Market Position Source: CNBV. 2° 4° 2° 3° Eco Hist DB NIM Rev C/I NI Div ROE LD Dep Loan ICAP BAP Guid Mkt App 2° 3° GRUPO FINANCIERO BANORTE#4242 Market Share by Segment Loan Book Market Share 14.9% 13.7% 14.9% 114bp 10.4% Corporate & Commercial market 9.4% share 11.0% 9.9% 11.4% uld ud 13.1% 13.0% Nov/Nov 155b Nov/Nov 17.2% Mortgage market share 19.5% 19.5% 19.2% 18.7% +31bp Nov/Nov 2016 2017 2018 Nov 19 Nov 20 2016 2017 2018 Nov 19 Nov 20 2016 2017 2018 Nov 19 Nov 20 Credit Card market share Auto Loans 19.1% Payroll Loans 21.1% 10.2% 17.9% 9.7% 17.6% 9.5% 9.3% 16.3% +52bp 14.9% 8.4% +115b Nov/Novp 19.5% Nov/Nov 2016 2017 2018 Nov 19 Nov 20 2016 2017 2018 Nov 19 Nov 20 20.9% 20.6% 19.3% illa 2016 2017 +134bp Nov/Nov 2018 Nov 19 Nov 20 Eco Hist DB NIM Rev C/I NI Div ROE LD Dep Loan ICAP BAP Guid Mkt App GRUPO FINANCIERO BANORTE#4343 33 Afore Market Share (Retirement Savings) Assets Under Management Billion Pesos Source: CONSAR AUM Market Share Dec-19 Dec-20 Dec-19 Dec-20 XXI Banorte 882 1,016 22.1% 21.5% CitiBanamex 724 813 18.1% 17.2% Profuturo GNP 600 736 15.0% 15.6% SURA 590 696 14.8% 14.7% Coppel 253 329 6.3% 7.0% Principal 259 293 6.5% 6.2% PensionISSSTE 258 312 6.4% 6.6% Invercap 188 217 4.7% 4.6% Other 242 310 6.1% 6.6% Eco Hist DB NIM Rev C/I NI Div ROE TI LD Dep Loan ICAP BAP Guid Mkt App GRUPO FINANCIERO BANORTE#4444 Insurance Market Share Million Pesos Premiums Market Share Net Income Market Share Sep-19 Sep-20 Sep-19 Sep-20 Sep-19 Sep-20 Sep-19 Sep-20 G.N.P. 48,939 52,593 11.8% 12.7% 3,425 3,392 9.8% 9.0% Metlife México 43,260 44,052 10.4% 10.7% 4,270 5,325 12.2% 14.2% BBVA Bancomer 35,910 34,419 8.7% 8.3% 4,222 4,120 12.1% 11.0% AXA Seguros 29,260 30,360 7.1% 7.4% 1,745 3,457 5.0% 9.2% Banamex 29,358 23,812 7.1% 5.8% 2,355 1,690 6.7% 4.5% Monterrey New York Life 21,242 23,554 5.1% 5.7% 1,958 1,870 5.6% 5.0% Qualitas 23,875 23,254 5.8% 5.6% 3,660 5,217 10.5% 13.9% Seguros Banorte 21,166 21,807 5.1% 5.3% 3,139 3,323 9.0% 8.8% Inbursa 14,610 15,037 3.5% 3.6% 2,111 1,123 6.0% 3.0% Mapfre Crédito 23,456 14,273 5.7% 3.5% 232 299 0.7% 0.8% Other 123,609 129,876 29.8% 31.4% 7,875 7,741 22.5% 20.6% TOTAL 414,684 413,038 100.0% 100.0% 34,990 37,558 100.0% 100.0% Source: AMIS. Eco Hist DB NIM Rev C/I NI Div ROE LD Dep Loan ICAP BAP Guid Mkt App 6° GRUPO FINANCIERO BANORTE#45Annuities Market Share Million Pesos RESOLUTIONS * Market Share Dec-19 Dec-20 Dec-19 eic-20 Banorte 11,172 14,025 42.3% 49.3% 1° Profuturo GNP 9,099 8,004 34.5% 28.1% Bancomer 6,104 6,424 23.1% 22.6% Total Industry 26,383 28,454 100.0% 100.0% ANNUITANTS Market Share Dec-19 Dec-20 Dec-19 Dec-20 Banorte 10,355 11,576 39.9% 48.6% 1° Profuturo GNP 7,990 5,456 30.8% 22.9% Bancomer 7,623 6,809 29.3% 28.6% Total Industry 25,982 23,841 100.0% 100.0% *\ Legal document for any pensioners entitled to receive a pension. Source: AMIS to December 2020. 45 Eco Hist DB NIM Rev C/I NI Div ROE LD Dep Loan ICAP BAP Guid Mkt App BANORTE GRUPO FINANCIERO#4646 GFNorte in the World Total Shares Outstanding: Float: Total ADRs (1) Outstanding: 4Q20 2,883.5 m - 86% 400,000 8.64 m 350,000 Market Capitalization Million pesos US 15.9 bn Ticket Indexes 300,000 IPC (BMV) Sustainable IPC (BMV) 276,177 GFNORTEO (BMV) MSCI Mexico 250,000 STOXX DJSI MILA Climate Disclosure Leadership 200,000 GBOOY (OTCQX) OTCQX30 Euronext Vigeo EM70 150,000 FTSE Latibex All Shares XNOR (Latibex) FTSE Latibex TOP 4Q13 4Q15 2Q16 4Q16 2Q17 4Q17 2Q18 4Q18 (1) Level 1 Eco Hist DB NIM Rev C/I NI Div ROE LD Dep Loan ICAP BAP Guid Mkt App 316,978 302,763 Oil and COVID-19 crisis 187,425 220,930 2Q19 4Q19 2Q20 4Q20 GRUPO FINANCIERO BANORTE#47Analyst Opinion & Investment Grade by All Major Rating Agencies Analysts' Estimates (as of January 20, 2021) Ratings Agencies Agency Rating Outlook Date Net Income 2020 $31,778 2021 $34,943 Standard & Poor's BBB Negative Mar-20 Target Price $112.7 Maximum $137.0 Number of Analysts 24 Fitch 21 BBB- Negative Jul-20 # BUY 17 # HOLD # SELL 3 Moody's Baa3 Negative Abr-20 1 47 Eco Hist DB NIM Rev C/I NI Div ROE LD Dep Loan ICAP BAP Guid Mkt App GRUPO FINANCIERO BANORTE#4848 48 Sustainability Strategy ENVIRONMENTAL • Climate Change ⚫ Biodiversity • Waste Management • Water Management SUSTAINABLE FINANCE • Socio-environmental Risk Management in Lending Portfolios • Responsable Investment • Sustainable Insurance • Sustainable Financial Products SOCIAL • Human Rights • Financial inclusion and Education Diversity and Inclusion • Human Capital Community Engagement GOVERNANCE • Corporate Governance • Strategy and Materiality • Ethics and Accountability .Risk Management • Security of the Information Eco Hist DB NIM Rev C/I NI Div ROE TI LD Dep Loan ICAP BAP Guid Mkt App GRUPO FINANCIERO BANORTE#49ESG Updates 49 49 Environmental "Bóscares" Award (urban forests) by Reforestamos México Sustainable mobility initiative in Mexico City and Monterrey Adherence to the Alliance for Climate Action of Mexico City (ACA-CDMX) • • • Social Top-10 Great Place to Work (diversity and inclusion) New diversity strategy in talent- attraction and retention (HR) Launch - Sustainable Supply Chain Program for 215 Mexican companies Continued involvement and active participation in the National Financial Education Week • • • Governance CDP climate change questionnaire: 2020: A- (2019: B) Dow Jones Sustainability Index MILA Pacific Alliance (member since 2017) Launch of "Our Journey" newsletter • Sustainability Committee: Results 2020 Sustainable Finance • Inclusion of nature-related risks in the risk-management system - WWF Involvement in the TEEB Agrifood program - Capital Coalition Global Initiative • Banorte Mutual Funds: PRI signatory • UNDP SDGs impact report - Family Remittances Eco Hist DB NIM Rev C/I NI Div ROE LD Dep Loan ICAP BAP Guid Mkt App GRUPO FINANCIERO BANORTE#50Responsible investments - Mutual funds %, share of total analyzed AUM 100 12.0 80 89.7 60 Sustainable Finance Sustainable finance loan book evaluation % of wholesale banking loan book 15.0 12.8 12.5 0.2 0.4 10.0 7.5 3Q19 IFC International Finance Corporation WORLD BANK GROUP 13.2 1.0 1.5 9.8 0.8 0.8 4Q19 3Q20 4Q20 Other Sustainable loan book Climate-related loan book 420 95.7 90 94.4 0.55 0.66 0.25 0.25 0 3Q19 4Q19 3Q20 4Q20 Analyzed portfolio ■Sustainable portfolio 98% 90% 90% 3% 29% Loan book evaluation under Equator Principles Number of analyzed projects Responsible investments - Pension funds (Afore) %, share of total analyzed AUM by instrument 10 0 8 6 4 20 50 50 1 EQUATOR PRINCIPLES 5 1 100% 100% 80% 60% 40% 20% 0% 4Q19 3Q20 4Q20 International Mandates Equity Medium impact ■High impact 3Q19 ■Low impact 49% 7% Alternative Assets Real Estate Fixed Income Analyzed Portfolio Sustainable Portfolio Eco Hist DB NIM Rev C/I NI Div ROE LD Dep Loan ICAP BAP Guid Mkt App GRUPO FINANCIERO BANORTE#51Financial Education Program results 2020 vs. 2019 Workshops Universidades Fuertes Academic Alliance program National Financial Education Week BAC communities / Financial Education for employees and allies +200% 53 20 +165% 6 +50% 4 9 +200% 0 10 20 30 40 50 Workshops % Growth 2020 2019 2019 27 +152% 2020 68 National Scope States % Growth 2019 5 +711% 2020 15 Beneficiaries Universidades Fuertes Academic Alliance program 5196 500 +939.2% National Financial Education Week 807 +198.8% 270 BAC communities / Financial Education for employees and allies 887 +1022% 79 60 60 0 1000 2000 3000 4000 5000 6000 Beneficiaries % Growth 2020 2019 2019 849 +711% 2020 6890 Main States: • Mexico City . Hidalgo • Veracruz • Puebla • Zacatecas Main Topics: •Financial Awareness •Family Finances ⚫Economic Analysis •Finance and COVID-19 •Sustainable Finance •Remittances/Savings/Digital Banking/Investments 51 Eco Hist DB NIM Rev C/I NI Div ROE LD Dep Loan ICAP BAP Guid Mkt App GRUPO FINANCIERO BANORTE#52Appendix 59 52 Eco Hist DB NIM Rev C/I NI Div ROE LD Dep Loan ICAP BAP Guid Mkt App GRUPO FINANCIERO BANORTE#5353 53 Quarterly Summary Income Statement Highlights - GFNorte Change Change 4Q19 3Q20 4Q20 2019 2020 (Million Pesos) Interest Income 37,667 33,341 Interest Expense 15,174 10,430 Technical Results (Insurance & Annuities) (2,305) (2,310) 3Q20 4Q19 30,676 (8%) (19%) 150,514 9,638 (8%) (36%) (1,458) 37% 2019 133,593 (11%) 68,693 47,898 (30%) 37% (1,244) (2,863) (130%) Net Interest Income 20,188 20,601 19,580 (5%) (3%) 80,577 82,832 3% Net Service Fees 4,230 3,096 3,599 16% (15%) 14,011 13,219 (6%) Trading 872 1,128 858 (24%) (2%) 5,289 4,854 (8%) Other Operating Income (Expenses) 746 656 859 31% 15% 4,264 2,983 (30%) Non Interest Income 5,847 4,880 5,315 9% (9%) 23,564 21,056 (11%) Total Income 26,035 25,481 24,896 (2%) (4%) 104,141 103,888 (0%) Non Interest Expense 10,572 10,627 11,612 9% 10% 40,678 43,013 6% Provisions Operating Income Taxes 3,765 3,138 5,993 91% 59% 15,347 21,931 43% 11,698 11,717 7,290 (38%) (38%) 48,116 38,944 (19%) 2,951 3,178 1,757 (45%) (40%) 12,795 10,049 (21%) Subsidiaries' Net Income 389 492 509 4% 31% 1,716 2,002 17% Minority Interest (125) (124) (77) 38% 39% (509) (389) 23% Subsidiaries & Minority Interest 263 368 433 18% 64% 1,208 1,613 34% Net Income 9,010 8,906 5,966 (33%) (34%) 36,528 30,508 (16%) Recurring N.I. w/o anticipated Provisions 2Q20 and 4Q20 9,010 8,906 7,692 (14%) (15%) 35,345 35,583 1% Eco Hist DB NIM Rev C/I NI Div ROE LD Dep Loan ICAP BAP Guid Mkt App GRUPO FINANCIERO BANORTE#54Quarterly Summary Financial Ratios GFNorte 4Q19 3Q20 4Q20 2019 2020 NIM (1) 5.7% 5.1% 4.8% 5.62% 5.30% ROE (2) 19.0% 16.9% 10.9% 20.1% 14.8% ROA (3) 2.3% 2.0% 1.3% 2.3% 1.8% Efficiency Ratio (4) 40.6% 41.7% 46.6% 39.1% 41.4% Operating Efficiency Ratio (5) 2.7% 2.4% 2.6% 2.6% 2.5% CCL Banorte and SOFOM - Basel III (6) 133.5% 193.6% 192.5% 133.5% 0.0% Past Due Loan Ratio 1.7% 0.8% 1.1% 1.7% 1.1% Coverage Ratio 137.7% 265.2% 224.0% 137.7% 224.0% Cost of Risk (7) 1.98% 1.56% 2.97% 1.98% 2.75% Banxico Reference Rate 7.25% 4.25% 4.25% 7.25% 4.25% TIIE 28 days (Average) 7.86% 4.99% 4.51% 8.32% 5.73% Exchange Rate Peso/Dolar 18.86 22.14 19.91 19.30 22.16 Tax Rate 24.4% 26.0% 22.5% 25.7% 24.5% Balance Sheet Highlights - GFNorte Change 4Q19 3Q20 4Q20 (Million Pesos) 3Q20 4Q19 Asset Under Management 2,771,604 2,981,568 2,975,753 (0%) 7% Performing Loans (a) 762,642 798,478 802,138 0% 5% Past Due Loans (b) 12,806 6,660 8,931 34% (30%) Total Loans (a+b) 775,448 805,138 811,070 1% 5% Total Loans Net (d) 757,809 787,473 791,066 0% 4% Acquired Collection Rights (e) 1,601 Total Credit Portfolio (d+e) 759,410 Total Assets 1,580,010 Total Deposits Total Liabilities Equity 1,341 1,617 788,814 792,682 1,795,306 1,787,904 724,490 813,104 821,712 1,384,012 1,577,935 1,562,801 21% 1% 0% 4% (0%) 13% 1% 13% (1%) 13% Total Performing Loans ex-Government 195,998 217,371 225,103 588,654 635,869 640,576 4% 15% 1% 9% 54 44 Eco Hist DB NIM Rev C/I NI Div ROE LD Dep Loan ICAP BAP Guid Mkt App GRUPO FINANCIERO BANORTE#5555 Quarterly Summary Share Data 4Q19 3Q20 4Q20 Change 3Q20 4Q19 Change 2019 2020 2019 Earnings per share (Pesos) 3.125 3.089 2.069 (33%) (34%) 12.668 10.580 (16%) Earnings per share Basic (Pesos) 3.138 3.132 2.097 (33%) (33%) 12.747 10.699 (16%) Dividend per Share for the period (Pesos) 0.00 0.00 0.00 - 5.54 0.00 Payout for the period 0.0% 0.0% 50.0% Book Value per Share (Pesos) 67.18 74.44 77.07 4% 15% 67.18 77.07 15% Issued, Subscribed and Paid Shares (Million) 2,883.5 2,883.5 2,883.5 0% 0% 2,883.5 2,883.5 0% Stock Price (Pesos) 105.00 76.62 109.93 43% 5% 105.00 109.93 5% P/BV (Times) 1.56 1.03 1.43 39% (9%) 1.56 1.43 (9%) Market Capitalization (Million Dollars) 16,050 9,977 15,922 60% (1%) 16,050 15,922 (1%) Market Capitalization (Million Pesos) 302,763 220,930 316,978 43% 5% 302,763 316,978 5% Exchange Rate Peso/Dolar 18.86420 22.14380 19.90870 -10% 6% 19.29632 22.15663 15% INFRASTRUCTURE Employees Branches Correspondents ATM's 4Q19 3Q20 4Q20 30,162 1,182 30,162 29,916 1,182 1,193 14,182 16,395 16,984 8,919 9,089 9,387 POS'S 166,505 159,369 159,780 Eco Hist DB NIM Rev C/I NI Div ROE LD Dep Loan ICAP BAP Guid Mkt App BANORTE GRUPO FINANCIERO#56110% 108% 106% Healthy Liquidity 104% 102% 100% 98% 96% 94% 92% 90% 1Q 2015 3Q 40 30 1Q 3Q 2016 Loans / Deposits (%) T 60 1Q 3Q 2017 T 1Q 2018 3Q 1Q 2019 210% 105% 190% 170% 150% 98% 130% 98% 110% 90% Liquidity Coverage Ratio CCL (%) 107% 193% 194% 133% 70% 30 3Q 1Q 3Q 4Q 2020 1Q 3Q 2015 30 1Q 3Q 2016 1Q 3Q 2017 30 1Q 2018 3Q 1Q 3Q 1Q 3Q 4Q 2019 2020 56 Eco Hist DB NIM Rev C/I NI Div ROE LD Dep Loan ICAP BAP Guid Mkt App GRUPO FINANCIERO BANORTE#57Improving Corporate Governance GFNorte Float Listed overseas 86% Yes Mexbol Index (Average)* 45% 46% of the companies Chairman of the Board-CEO separation Yes In 73% of the companies Share of independent board members, % 71.0 49.7 Share of total assets threshold to require shareholders Current Before Aug'16 19.7 approval in M&A operations, % Non-related Related 25 20 20 20 20 57 57 Board members nominations committee Existence Final approval of nominated board members Share of independent board members in this committee, % Current 57.1 Yes Shareholders Before Aug'16 25 All members of the BOD are elected every year by the Shareholders' Assembly. Main Committees are chaired by independent members. Risk Policies Nominations Audit & Corporate Practices Assembly quorum has always been higher than 60% and consensus has always been reached on proposals. Eco Hist DB NIM Rev C/I NI Div ROE LD Dep Loan ICAP BAP Guid Mkt App 13.5% of the companies Shareholders 18.8 GRUPO FINANCIERO BANORTE#58Corporate Responsibility and Sustainability Global Initiative Report (GRI Standards) International standards on sustainability reporting and disclosure of economic, environmental and social topics. UN Global Compact International initiative promoting 10 universally accepted Principles to promote Corporate Social Responsibility (CSR). Carbon Disclosure Project (CDP) Organization that promotes awareness on climate change through a better quality and transparency of the information reported on the company's emissions performance. IPC Sustentable Mexican index of 30 listed companies, which are best positioned in relation to the pillars of Environment, Social and Corporate Governance. Empresa Socialmente Responsable (ESR) Recognition granted by the Mexican Center for Philanthropy (Cemefi) and AliaRSE, as a company committed with corporate social Responsibility. Natural Capital Declaration Voluntary financial sector initiative created at the Rio+20 Earth Summit, which recognizes the role of natural resources in the economy through its integration into financial products and services. Equator Principles Standard within the financial sector to determine, assess and manage the environmental and social risks of financed projects. GE12 Programme Mexico Voluntary reporting of greenhouse gas emissions 58 GRI THE GLOBAL COMPACT CDP DRIVING SUSTAINABLE ECONOMIES Eco Hist DB NIM Rev C/I NI Div ROE ESR IPC Sustentable EMPRESA SOCIALMENTE RESPONSABLE Natural Capital Declaration EQUATOR PRINCIPLES UNEP Finance Initiative Initiative that aims to identify, promote and carry out the adoption of best environmental and sustainability practices at all levels of operations of financial institutions. Dow Jones Sustainability Index MILA In 2017 was included in the Dow Jones Sustainability Index MILA Pacific Alliance. Asociación de Bancos de México (ABM) Participation in the Sustainability Committee and the Corporate Social Responsibility Committee, and signatories as the ABM Banking Sustainability protocol. STOXX ESG Leaders Index Index that represents the main global companies in terms of environmental, social and governance criteria, based on ESG indicators provided by Sustainalytics. Euronext Vigeo Emerging Markets 70 Recognizes the 70 companies from emerging countries with the most advanced practices in terms of sustainability. FTSE4Good Emerging Index Index that evaluates actions in the themes of climate change, labor standards and risk management, among others. Bloomberg Gender Equity Index Index that provides analysis of the commitment of 52 companies with the gender equity in the workplace to investors and organizations. Principles for Responsible Investment Initiative that promotes its UNEP FINANCE INITIATIVE Dow Jones Sustainability Indexes ABM ASOCIACIÓN DE BANCOS DE MEXICO STOXX EURONEXT vigeo HOCES FTSE4Good 2016 Bloomberg Gender-Equality Index FINANCIAL SERVICES for signatories to integrate environmental, social and governmental (ESG) PRI Responsible criteria into their investment and ownership decisions. MEKI GE!2 LD Dep Loan ICAP BAP Guid Mkt App GRUPO FINANCIERO BANORTE#59Contact Information and Reports If you have any information request or comments, please contact Banorte's Investor Relations Department at: Tel: (52) 55 1670 2276 E-mail: [email protected] We recently published the Q20 report. During 2020 we have released: 2. 4. 1234 Annual Report to the Banking and Securities Commission (CNBV) Annual Report to the Stock Exchange (Informe Anual Circular Única de Emisoras) Audited Financial Statements for 2019 Annual Financial and CSR Report for 2019 under the GRI methodology (PDF & Interactive) 59 59 You can access our quarterly and annual reports (in Spanish and English) and other informative materials at : investors.banorte.com Disclaimer Grupo Financiero Banorte does not warrant that the document is accurate, complete, reliable, fit for any particular purpose and does not accept liability for any act (or decision not to act) resulting from the use of this document and related data. The information contained in this document is illustrative and informative so it should not be considered as an advice and/or recommendation of any kind. Grupo Financiero Banorte is not part of any party or political trend. Eco Hist DB NIM Rev C/I NI Div ROE LD Dep Loan ICAP BAP Guid Mkt App BANORTE GRUPO FINANCIERO