#18631 Corporate Presentation 2022 AL GRUPO FINANCIERO BANORTE#2Table of Content About Banorte Results 3 NIM 9 Revenue composition 12 Fees 13 Cost to Income 15 Digital Bank Net Income EPS Dividend ROE / ROA Deposit & Loans Loans/Deposits Deposits growth 17 18 19 20 Loan growth Government Loan Book Asset Quality - NPL CAR BAP (Insurance, Pension & Afore) Insurance graphs & segments Guidance 41 Market Presence GFNorte ESG Appendix Economic and Financial Perspectives 22222223333122568 27 37 39 42 49 Markets COTIZA EN BOLSA MARCARIA DE VALORES GFNORTEO Awards WORLD FINANCE BNY MELLON DEPOSITARY RECEIPTS OTCQX GBOOY SME Bank Award 2022 Global Finance 2 BANKING AWARDS О 2 2 WORLD FINANCE CORPORATE GOVERNANCE AWARDS 2 0 2 2 LATIBEX XNOR ETHICAL boardroom CORPORATE GOVERNANCE AWARDS 2021 "Best Corporate Governance 2021" WORLD FINANCE PENSION FUND AWARDS 2 Indexes MEMBER OF Dow Jones Sustainability Indices In Collaboration with SAM MILA FTSE4Good Div DB Rev Dep NIM TI LD Loan BAP Guid ESG Eco 2 NI ROE ICAP Mkt App Hist C/I EMPRESA SUSTENTABLE GRUPO FINANCIERO BANORTE#33 About Banorte DB Rev Div Dep NIM ΤΙ LD Loan BAP Guid ESG Hist NI ROE ICAP Mkt C/I App Eco E GRUPO FINANCIERO BANORTE#4○ GFNORTE - A Leading and Profitable Financial Franchise in Mexico 4 1 2 4 Adequate business mix Strong retail, wholesale and premium banking platforms, as well as leading insurance and pension fund management units, serving more than 19 million clients. Sound Fundamentals Solid asset quality, high liquidity and strong capitalization ratios. 3 Solid corporate governance Independent Board Members represent 64% of total board composition and best practices in minority shareholder right protection. Digital Strategy Prepared for the Future Hist DB One of the most public companies in Mexico GFNorte is top 3 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 16.1 billion, float around 86% and more than 6,000 investors, including large global institutional funds. Investment grade ratings by S&P, Fitch, Moody's and HR Ratings. Div Rev Dep TI LD Loan BAP Guid ESG Eco NIM NI ROE ICAP Mkt App C/I GRUPO FINANCIERO BANORTE#5LO О From Regional Bank to Second Largest National Financial Group Regional Bank 1899 1982-1992 Establishment Nationalization Hist Business Diversification * Loan book Market Share Inorganic Growth 2.3% Privatization 20120 Plan Client Segmentation IT: central DB, multichannel Profitability 15%* 1,2,3 Plan ⚫ Banorte's Digital Transformation • JV Rappi Digital Bank 1995 2000 2005 2010 2015 2020 2022 Afin Bancentro Banpaís Banorte Generali 50% INB Afore XXI IXE IMSS 50% Afore Bancomer Bancrecer Banorte-General ¡100% G.F. Interacciones Rappi J.V. Div DB Rev Dep NIM TI LD Loan BAP Guid ESG Eco NI ROE ICAP Mkt App C/I GRUPO FINANCIERO BANORTE#6○ Strategy - Client centric & Digital Evolution PRODUCTS & SOLUTIONS Deposits & Loans Insurances Pension Annuities Wealth Mngt. Client Segmentation ■ 11 million ex-Afore clients 8.6 million Afore clients ■ Structured Info & Learning (Central DB & Watson) ■ Behavior understanding Analytics PROCESSES Account opening - Credit Analysis Next Best Offer - Next Best Action DISTRIBUTION CHANNELS Mobile Internet > 10M Rappi clients Rappi JV Consumer focus New customer behavior Digital Bank ATM Contact Center Branches Div DB Rev Dep TI LD Loan BAP Guid ESG Eco NIM 6 NI ROE ICAP Mkt App Hist C/I VIS Google Hyper-personalization Cost GRUPO FINANCIERO BANORTE#7Diversified Business Mix In progress. GRUPO FINANCIERO BANORTE JV with RAPPI Digital Bank Banco Mercantil Casa de Operadora Banorte del Norte Bolsa Banorte de Fondos Banorte 50% 100% 98.2618% 99.9999% 99.9999% Ahorro y Previsión 99.9999% Arrendadora y Factor Banorte** 99.9058% Looking for fully licensed banks Banorte Financial Services (Uniteller) 100.0% Banorte Securities Holdings International 99.9999% (Fondos de Inversión) Seguros Banorte Pensiones Banorte 100% 99.9999% 99.9999% Includes: Almacenadora Banorte; Ixe Servicios; Solida merges Arrendadora y Factor Banorte on July 1st, 2020 Banorte Futuro 98.22% Afore XXI Banorte 50.0% Div DB Rev Dep TI LD Loan BAP Guid ESG Eco NIM 7 NI ROE ICAP Mkt App Hist C/I Other Subsidiaries* GRUPO FINANCIERO BANORTE#8Business Mix - Diversified Net Income and Balance Net Income Mix 1H22 $22.27 bn Other Finance Companies Afore 1% 2% Holding 3% Annuities 5% Insurance 9% Bank 75% Million pesos 2Q22 Bank q/q yly 44% 9,211 23% 1H22 y/y ROE 1H22 16,710 36% 24.2% Broker Dealer & Mutual F. Insurance Annuities 308 (66%) (36%) 852 (31%) 84% 520 2% 1,215 34% 31.6% 2,084 58% 58.8% 5% 1,031 4% % 2: 23.1% Broker Dealer & Mutual Funds Pension Funds (Afore) Other Finance Comp. 245 99 (36%) (78%) 94% % 17 177% 254 (70%) 4.3% 5% 372 10% Holding 289 (9%) 74% 608 47% GFNorte 11,524 7% 34% 22,272 30% 18.9% ** Afore ROTE 49.6% Div DB Rev Dep NIM TI LD Loan BAP Guid ESG Eco 8 NI ROE ICAP Mkt App Hist C/I GRUPO FINANCIERO BANDRTE#9О NIM Net Interest Margin Moving in the Right Direction 6.0% 5.9% 6.0% 5.6% 5.5% 5.6% 5.3% 5.5% 5.0% 4.9% 5.0% 4.7% 4.8% 4.4% 4.5% 4.9% 4.9% 4.5% 4.1% 4.8% 4.0% 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2Q21 3Q21 4Q21 1Q22 2Q22 NIM (Post-Provision) 6.0% Previous criteria IFRS 5.5% 5.0% 4.5% 4.3% 4.4% 4.3% 4.5% 4.2% 3.9% 4.0% 3.7% 4.2% 4.2% 3.4% 3.4% 3.5% 3.5% 4.1% 3.5% 3.0% 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2Q21 3Q21 4Q21 DB Rev Div Dep 9 NIM TI LD Loan BAP Guid ESG Eco Hist NI ROE ICAP Mkt C/I App 5.4% 5.3% 1Q22 2Q22 GRUPO FINANCIERO BANORTE#10Margin sensitivity evolution Dynamic risk management hedges, Focus on stable low-cost liabilities, Active ALCO, Organic growth of floating rate portfolio. Margin Sensitivity - 100 bps on NII Foreign Currency Balance Sheet Local Currency Balance Sheet Million pesos Million pesos 898 802 758 979 643 593 603 569 362 319 1,127 1,156 1,167 842 638 554 566 428 4Q18 4Q19 2Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 4Q18 4Q19 2Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 Div 10 DB Hist Rev Dep NIM TI LD Loan BAP Guid ESG Eco NI ROE ICAP Mkt App C/I GRUPO FINANCIERO BANORTE#11Core Banking Fees quite above pre-pandemic levels and continuously growing Net Fees +13% 1H y/y on economic recovery, sequential growth. Core banking fees +10% q/q, and +22% 1H y/y; ■ Electronic banking services +30% 1H y/y. +8% Net Fees 5,000 Previous criteria IFRS +13% 1H y/y 4,313 4,010 4,000 3,644 3,000 Digital transactions leading annual growth, +26% in POS, +59% in mobile monetary transactions. 2,000 1,000 3,455 3,069 3,096 3,599 3,214 3,289 3,457 4,003 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q Mobile Monetary 2020 2021 2022 POS Transactions +26% 2Q yly Transactions Millions 135 125 115 105 325252525 Millions 126 25 112 110 100 20 95 88 15 85 15 75 65 54 10 45 +59% 2Q yly 26 22 23 Total Core Banking 6,000 5,000 5,201 4,744 4,250 4,000 +22% 3,000 1H yly 5 Jan-20 May-20 Sep-20 Jan-21 May-21 Sep-21 Jan-22 Jun-22 Jan-20 May-20 Sep-20 Jan-21 May-21 Sep-21 Jan-22 Jun-22 2,000 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 2020 2021 2022 Div 11 Hist DB Rev Dep NIM TI LD Loan BAP Guid ESG Eco NI ROE ICAP Mkt App GRUPO FINANCIERO BANORTE C/I#12○ Efficiency Temporally Affected by COVID-19 Cost to Income 55.0% 50.0% 45.0% 40.0% 54.0% 52.0% Previous Criteria IFRS 49.6% 48.5% 47.9% Recurring 44.9% 40.0% 39.7% 44.5% 42.8% 43.4% 43.9% 47.6% 41.4% 39.0% 39.1% 37.7% 37.8% 42.5% 41.7% 35.0% 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2Q21 3Q21 4Q21 1Q22 2Q22 Revenues & Expenses Million Pesos I Recurring Rev. 25,000 20,000 Revenues IFRS Expenses IFRS Revenues Expenses 15,000 10,000 5,000 12 0 2011 2019 2020 2021 2012 2013 2014 2015 2016 2017 2018 Div DB Rev Dep NIM TI LD Loan BAP Guid ESG Eco Hist NI ROE ICAP Mkt App C/I 2022 GRUPO FINANCIERO BANORTE#13Resilient Net Income Net Income Million Pesos 37,000 32,000 27,000 22,000 CAGR 2012-2021 +14% 19,308 17,108 17,000 15,228 13,508 10,888 12,000 36,528 12,000 35,583 31,958 35,345 35,048 11,000 30,508 23,908 Recurring 10,000 2Q22 Record High 9,061 8,874 9,000 8,568 8,000 7,000 6,000 +34% YOY 11,524 10,748 +7% QoQ 7,000 5,000 2012 2013 2014 2015 2016 2017 2018* 2019* 2020 2021 2Q21 3Q21 4Q21 1Q22 2Q22 Div 13 DB Hist Rev Dep NIM TI LD Loan BAP Guid ESG Eco NI ROE ICAP Mkt App C/I GRUPO FINANCIERO BANORTE#14Pre-pandemic - Constant Positive Growth in Profitability ROA 2.5% 2.30% 2.18% 2.05% 1.94% 1.97% 1.99% 2.0% 1.86% 1.90% 2.18% 1.60% 1.46% 1.47% 1.40% 1.76% 1.85% 1.90% 1.5% 1.79% 1.30% ROA Recurring IFRS 2.27% 1.0% 2012 2013 2014 2015 2016 2017 2018* 2019* 2020* 2021 2Q21 3Q21 4Q21 1Q22 2Q22 ROE 22% 20.3% 20.1% 19.6% 18.1% 19% 17.0% 19.6% 17.1% 19.3% 15.3% 15.1% 15.5% 15.4% 16% 14.3% 14.2% 14.1% 13.2% 13.3% *Recurring 14.8% 13% 10% 2012 2013 2014 2015 2016 2017 2018* 2019* 2020* 2021 2Q21 3Q21 4Q21 1Q22 2Q22 DB Rev Div Dep 14 144 NIM TI LD Loan BAP Guid ESG Eco Hist NI ROE ICAP Mkt App GRUPO FINANCIERO BANORTE C/I#15pradmoola 15 Hist DB ///// 3. Digital Bank Digital Transformation 1. Digital Transformation at Banorte 2. Rappi JV Rev Div Dep NIM ΤΙ LD Loan BAP Guid ESG NI ROE ICAP Mkt App C/I Eco E GRUPO FINANCIERO BANORTE#16O Digital Transformation Gaining Share Transactions (Tx) 2Q22 Transactions (millions) Branches 700 BanorteMovil 613.7 2.5% WEB 600 12% POS 26% 500 400 Correspondents 300 0% Call Center 1% 47% 12% ATM Mobile 200 100 0 1Q 3Q 1Q 3Q 1Q 3Q 1Q 2017 2018 2019 2020 3Q 1Q 2021 3Q 1Q 2022 16 Mobile as a Point of Sale Digital Deposit Account Customers Using Digital (millions) Credit Card 6.7 7 6.4 6 5.5 Payroll loans 5 Time Deposits 4.3 3.9 Mutual Funds 4 Insurance 3 1Q19 2Q 3Q 4Q 1Q20 2Q 3Q 4Q 1Q21 2Q 3Q 4Q 1Q22 2Q Div DB Rev Dep TI LD Loan BAP Guid ESG Eco NIM NI ROE ICAP Mkt App Hist C/I GRUPO FINANCIERO BANORTE#17Customers' voice, key in Banorte's evolution Ponting to a NPS of 90 based on improvements from the Internal Customers: ○ processes/services/systems products o branch-administration, contingency, others Banorte Móvil App WEB YOUR VOICE TRASFORMS 80.2 +15 pts 82.0 vs 2Q21 75.3 Branches +3.9 pts vs 2Q21 DB Rev Div Dep 17 NIM TI LD Loan BAP Guid ESG Hist NI ROE ICAP Mkt App C/I 71.4 +4.1 pts vs 2Q21 ATM +5.1 pts vs 2Q21 Eco GRUPO FINANCIERO BANORTE#18О Leaders in the Business & Infrastructure for the New Payments Market 8 - Rappi JV Credit Cards and Credits to affiliates POS Transactions Millions 135 112 110 125 115 105 100 95 88 85 75 65 54 55 45 35 Jan-20 May-20 +26% 2Q yly 126 Amor a primera vista. The best DIGITAL PLATFORM for aggregators PayPal clip B CoDi Div DB Rev Dep 18 NIM TI LD Loan BAP Guid ESG Eco Hist NI ROE ICAP Mkt App C/I recargable recargable an es aged amazon able amazonrecargable an → Indract aubr nrecargable amazoniecz roofrin ageresante cargable amazonrecaro CODI masterco mercado libre GRUPO FINANCIERO BANORTE VISA#19Ongoing digital evolution RappiCard: keeps growing in cards and billing VISA 602k 572k Issued cards Cards with at least one purchase 97% Of cardholders with a credit line above Ps 5,000 Digital Bank Internal certification of operating models Adding more functionalities as we approach final stage of regulatory approvals Amor a primera vista 1,615M1 Average monthly billing Source: JV Banorte Rappi, as of June 30, 2022 1. Average 2Q22 66% Monthly active users 78% Of users under 36 years old Div DB Rev Dep NIM TI LD Loan BAP Guid ESG Eco 19 NI ROE ICAP Mkt App Hist C/I GRUPO FINANCIERO BANORTE#20Loans & Deposits DB Rev Div Dep 20 20 NIM ΤΙ LD Loan BAP Guid ESG Hist NI ROE ICAP Mkt App C/I Eco E GRUPO FINANCIERO BANORTE#21Healthy Funding & Loan Portfolio Structure Bank Deposits Loan Portfolio 2018 $759 bn Senior Unsec. Debt 2% Money Market 15% 54% Demand 29% Time $777 bn 2Q22 $886 bn Senior Unsec. Debt Money Market 2% 3% Time 25% Demand 70% $861 bn US 44.0 bn US 42.8 bn Consumer 15% Consumer Government 15% 20% Government 25% Mortgage 20% Mortgage 24% 24% Commercial 22% Commercial 18% Corporate 17% Corporate Div DB Rev Dep 21 NIM TI LD Loan BAP Guid ESG Eco 21 NI ROE ICAP Mkt App Hist C/I GRUPO FINANCIERO BANORTE#22O Loyal Deposits Base Deposits Billion Pesos CAGR 2011-2021: +9% 900 800 O-Time Demand Core Deposits 751 750 834---YOY 796 751 733 750 +11% 667 700 637 590 616 584 551 600 509 533 -538--+11%- YOY -537- -538- 519 +15% 500 436 438 384 384 397 414 400 336 351 306 300 255 300 211 223 -229 YOY 217 211 "214 "214 190 194 211 212 218 158 168 +6% +2% 200 116 124 129 136 100 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2Q21 3Q21 4Q21 1Q22 2Q22 MIX 222 Time 38% Demand 62% 2013 Div DB Rev Dep NIM TI LD Loan BAP Guid ESG NI ROE ICAP Mkt App C/I Hist Eco Time 26% Demand 74% 2Q22 GRUPO FINANCIERO BANORTE#23Continued Growth in Performing Loan Book, Special Focus on Consumer Loan Portfolio Billion Pesos 900 800 861 YOY +8% 700 600 CAGR: +8% 500 400 300 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2Q21 3Q21 4Q21 1Q22 2Q22 2Q21 1Q22 2Q22 QoQ YOY Mortgage 196 203 208 2% 6% Auto 28 28 29 3% 3% Credit Card 37 40 41 4% 11% Payroll 54 57 62 8% 14% Consumer 315 328 339 3% 8% Commercial 193 202 207 2% 7% Corporate 132 145 148 2% 12% Government 155 160 166 4% 8% TOTAL 795 835 861 3% 8% Div DB Rev Dep 23 NIM TI LD Loan BAP Guid ESG Eco 23 NI ROE ICAP Mkt App Hist C/I GRUPO FINANCIERO BANORTE#24○ Sound Asset Quality NPL Ratio 3.1% 2.9% 3.0% Previous Criteria IFRS 2.5% 2.2% 2.1% 2.0% 1.8% 2.0% 1.7% 1.7% 1.4% 1.5% 1.2% 1.1% 1.0% 1.0% 1.0% 1.3% 1.1% 0.9% 1.0% 1.0% 0.5% 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2Q21 3Q21 4Q21 1Q22 2Q22 Previous Criteria IFRS 2018 2019 2020 2Q21 3Q21 4Q21 2Q21 3Q21 4Q21 1Q22 2Q22 Credit Card 5.5% 5.4% 7.8% 4.9% 3.9% 3.3% 3.6% 2.7% 2.3% 2.2% 2.2% Payroll 3.7% 3.3% 2.7% 2.5% 2.6% 2.6% 2.4% 2.4% 2.5% 2.4% 2.7% Auto 1.1% 1.0% 0.6% 1.1% 0.9% 0.8% 1.1% 0.9% 0.8% 0.7% 0.6% Mortgage 0.9% 1.1% 0.9% 1.0% 1.1% 1.0% 1.0% 1.0% 1.0% 0.9% 0.9% Commercial 1.9% 2.4% 1.2% 1.9% 1.9% 1.6% 1.9% 1.9% 1.6% 1.7% 1.6% SME 5.5% 6.6% 2.0% 3.4% 2.5% 1.8% 2.7% 2.3% 1.6% 1.7% 1.6% Commercial ex-SME 0.9% 1.3% 1.0% 1.6% 1.8% 1.5% 1.7% 1.9% 1.6% 1.7% 1.6% Corporate 2.9% 1.8% 0.1% 1.3% 0.4% 0.0% 1.3% 0.4% 0.0% 0.3% 0.5% Government 0.0% 0.0% 0.0% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% Total GFNorte 1.7% 1.7% 1.1% 1.4% 1.2% 1.0% 1.3% 1.1% 0.9% 1.0% 1.0% DB Rev Div Dep 244 NIM TI LD Loan BAP Guid ESG Eco Hist NI ROE ICAP Mkt App C/I GRUPO FINANCIERO BANORTE#25○ Sound Asset Quality Coverage Ratio 250% 200% 138% 139% 129% 142% 138% 150% 105% 107% 116% 224% 205% 207% 187% 202% 193% 173% 191% 174% 162% 100% Previous Criteria -IFRS 50% 0% 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2Q21 3Q21 4Q21 1Q22 2Q22 Cost of Risk 2.8% 3.0% 2.5% 2.5% 2.0% 2.0% 2.3% 2.2% 1.4% 1.37% 1.30% 1.32% 1.5% -1.8% Pre-2022 Criteria --Pre-2018 Criteria 1.0% Recurring IFRS 1.36% 1.30% 1.31% 1.27% 1.13% 0.5% 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2Q21 3Q21 4Q21 1Q22 2Q22 25 25 Cost of Risk: Provisions / Average Total loans (Performing + Past Due), On current criteria all the recoveries are register on Provisions (net) Div DB Rev Dep NIM TI LD Loan BAP Guid ESG Eco Hist NI ROE ICAP Mkt App C/I GRUPO FINANCIERO BANORTE#26O Strong Capital Position Capital Adequacy Ratio Basel III Total Tier 1 24.6% TLAC to 2025 17.90% 25.8% 24.7% 22.9% 21.7% 21.9% 21.8% 0.5% Tier 2 20.2% 18.6% 17.2% 17.2% 15.3% 15.3% 14.6% 11.40% 9.40% 16.3% 15.0% 15.2% 14.8% 15.3% 7.90% 13.9% 13.7% CET1 12.7% 12.4% 12.1% 11.9% 12.7% 12.7% 2014 2015 2016 2017 2018 2019 2020 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 RWA annual growth Minimum Regulatory Ratios +11% +8% +16% (2%) +19% +7% +17% +6% (4%) (6%) (8%) (6%) (3%) 26 26 Div DB Rev Dep TI LD Loan BAP Guid ESG Eco NIM NI ROE ICAP Mkt App Hist C/I GRUPO FINANCIERO BANORTE#27О BAP: Long Term Savings Business 27 Million Pesos 2Q22 1H22 YOY 2Q22 1H22 Considering Banorte Futuro YOY Insurance Net Income 812 2,034 61% 951 2,339 8% Equity 7,848 7,848 (33%) 24,767 24,767 (19%) Assets 54,749 54,749 5% 71,291 71,291 1% Premiums 4,977 18,510 8% 4,977 18,510 8% ROE 43.6% 58.8% 36.1 pp 15.9% 20.1% 5.1 pp AFORE Net Income 201 518 (70%) Equity 22,966 22,966 (4%) Assets 24,926 24,926 (6%) AUM 1,016,665 1,016,665 (3%) ROE 3.5% 4.3% (10.1) pp ROTE 13.2% 14.5% Annuities Net Income Equity 520 9,405 1,031 4% 9,405 27% Assets 223,413 223,413 23% Premiums ROE 4,740 22.8% 9,686 (6%) 23.1% (5.4) pp Div DB Rev Dep TI LD Loan BAP Guid ESG Eco NIM NI ROE ICAP Mkt App Hist C/I GRUPO FINANCIERO BANORTE#28Insurance business steadily improving Operating Income decreases (33%) sequentially on seasonality, but expands +54% 1H y/y. Claims below (9%) q/q. The reduction continues in COVID-19 related segments (health and life); on the other hand, auto and p&c increased quarterly. 12,000 10,000 Retained Insurance Premiums 8,000 Change 5,772 2Q22 1H22 yly 6,000 (Million Pesos) Interest Income (Net) Premium Income (Net) Net Increase in Tech. Reserves Cost of Aq. from Insur. Oper. Claims Securities-Realized Gains q/q yly 372 18% 13% 4,361 (60%) 55% (868) (119%) 43% 587 (20%) 3,646 (9%) 8% 6 3555% (85%) 686 17% 15,302 10% 3,654 21% 4,361 6,000 4,000 21% 1,319 19% 2,817 4,000 7,664 (7%) Other Operating Income Non-Interest Expense 227 1% 18% 6 (92%) 453 (2%) 2,000 2,000 Operating Income 439 (9%) 1,158 (33%) 15% 923 21% 79% 2,884 54% 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 2020 2021 2022 DB Div Rev Dep 28 28 NIM TI LD Loan BAP Guid ESG Eco Hist NI ROE ICAP Mkt App C/I 2,767 10,941 4,000 -2,000 2,000 0 Technical Reserves 6,000 3,304 765 -875 -248 4,537 -1,525 -78 1,062 4.522 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 2020 2021 2022 Damages & Claims 3,674 3,321 4,119 4,884 3,390 3,570 3,901 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 2020 2021 2022 GRUPO FINANCIERO BANORTE 4,018 3,646 -868#292022 guidance update 29 29 Hist Loan Growth NIM expansion NIM of Bank expansion Expense Growth Efficiency Cost of Risk Tax Rate Net Income ROE ROA 2022 5%- 7% 25-35 bps 50-70 bps 7.0% -7.6% 38.9% 39.7% 1.4% -1.7% 25% -26% 40.5 42.0 bn 17.5% 18.5% 2.0% -2.2% Macro Estimates for 2022 GDP Inflation Rate Banxico's Reference Rate (Avg.) * Estimates of growth comparable with IFRS numbers ~1.5 6.0% -7.6% 7.21% Div DB Rev Dep NIM TI LD Loan BAP Guid ESG Eco NI ROE ICAP Mkt App C/I GRUPO FINANCIERO BANORTE#30Market Presence DB Rev Div Dep 30 NIM ΤΙ LD Loan BAP Guid ESG Hist NI ROE ICAP Mkt App C/I Eco E GRUPO FINANCIERO BANORTE#31Deposit & Loan Market Share Deposits Inbursa 3% ScotiaBank 7% Others 19% BBVA 22% HSBC 8% 3rd Santander 13% Source: CNBV May 2022 Banorte 13% Loans Others 19% BBVA 24% Inbursa 5% HSBC 7% 2nd CitiBanamex 15% Scotiabank Banorte 14% 8% Citibanamex 10% Santander 13% Div DB Rev Dep 37 31 NIM TI LD Loan BAP Guid ESG Eco NI ROE ICAP Mkt App Hist C/I GRUPO FINANCIERO BANORTE#32О Market Share by Segment Auto Payroll C. Card Mortgage Comm + Corp Government Deposits May-21 May-22 May-21 May-22 May-21 May-22 May-21 May-22 May-21 May-22 May-21 May-22 May-21 May-22 Banorte 19.6% 19.4% 20.7% 20.6% 10.4% 10.4% 19.7% 18.6% 11.7% 11.6% 25.5% 25.4% 13.2% 12.9% BBVA 33.4% 30.7% 37.9% 37.9% 30.4% 31.6% 25.8% 25.9% 19.7% 20.5% 28.6% 28.8% 22.5% 23.5% CitiBanamex 0.0% 0.0% 17.4% 15.6% 24.2% 24.4% 7.4% 6.1% 9.8% 9.6% 8.0% 7.4% 15.1% 14.5% Santander 8.7% 14.3% 13.7% 13.3% 13.7% 13.8% 17.3% 17.5% 12.1% 12.2% 14.3% 14.5% 12.8% 11.9% HSBC 5.3% 5.8% 8.1% 9.8% 5.8% 6.5% 8.5% 9.7% 6.9% 5.9% 5.7% 4.4% 7.6% 7.5% ScotiaBank 14.7% 12.8% 0.4% 0.5% 2.4% 2.3% 14.9% 15.8% 7.9% 7.6% 2.1% 2.7% 6.7% 6.5% Inbursa 7.6% 6.2% 0.3% 0.8% 3.6% 3.1% 0.5% 0.4% 6.5% 7.0% 3.8% 5.1% 3.1% 3.2% Others 10.7% 10.6% 1.5% 1.7% 9.6% 7.9% 6.0% 6.0% 25.4% 25.6% 11.9% 11.8% 19.1% 19.9% Market Position Source: CNBV 2° 2° 4° 2° 3° Div DB Rev Dep 22 32 NIM TI LD Loan BAP Guid ESG Eco NI ROE ICAP Mkt App Hist C/I 2° 3° GRUPO FINANCIERO BANORTE#33O Market Share by Segment Total Loan Book 12.9% 14.3% 13.8% 14.9% 14.6% Commercial & Corporate Mortgage 19.7% 11.7% 11.6% 19.4% 19.3% 19.1% 10.2% 10.2% (8bp) 9.4% (38bp) 18.6% (109bp May-18 May-19 May-20 May-21 May-22 May-18 May-19 May-20 May-21 May-22 May-18 May-19 May-20 May-21 May-22 Credit Card Auto Loans 10.2% 10.4% 10.4% 9.7% 9.3% 19.6% 19.4% 18.3% 17.5% 17.8% +1bp May-18 May-19 May-20 May-21 May-22 III H (20bp May-18 May-19 May-20 May-21 May-22 Source: CNBV Div DB Rev Dep 33 33 NIM TI LD Loan BAP Guid ESG Eco NI ROE ICAP Mkt App Hist C/I Payroll Loans 21.8% I 20.7% 20.6% 20.0% 19.5% (12bp) May-18 May-19 May-20 May-21 May-22 GRUPO FINANCIERO BANORTE#34○ Afore Market Share (Retirement Savings) Assets Under Management 34 34 AUM Market Share Billion Pesos Jun-21 Jun-22 Jun-21 Jun-22 XXI Banorte 1045 1017 21.2% 20.5% CitiBanamex 785 840 15.9% 16.9% Profuturo GNP 815 769 16.5% 15.5% SURA 736 767 14.9% 15.4% Coppel 358 363 7.3% 7.3% Principal (Metlife, May18) 323 325 6.6% 6.5% PensionISSSTE 302 299 6.1% 6.0% Invercap 228 226 4.6% 4.6% Other 335 360 6.8% 7.3% Div DB Rev Dep TI LD Loan BAP Guid ESG Eco NIM NI ROE ICAP Mkt App Hist C/I Source: CONSAR GRUPO FINANCIERO BANORTE#35O Insurance Market Share Premiums Market Share Net Income Market Share Million Pesos Mar-21 Mar-22 Mar-21 Mar-22 Mar-21 Mar-22 Mar-21 Mar-22 Metlife México 21,020 24,082 12.7% 13.3% 238 1,551 2.9% 14.7% G.N.P. 20,145 21,971 12.2% 12.2% 1,062 956 12.8% 9.0% BBVA 14,061 14,814 8.5% 8.2% 941 1,061 11.3% 10.0% AXA Seguros 12,510 14,454 7.6% 8.0% 600 258 7.2% 2.4% Seguros Banorte 13,597 13,532 8.2% 7.5% 837 1,222 10.1% 11.5% Monterrey New York Life 8,698 9,516 5.3% 5.3% 476 421 5.7% 4.0% Qualitas 8,966 8,869 5.4% 4.9% 988 698 11.9% 6.6% Mapfre Crédito 6,181 7,310 3.7% 4.1% 59 67 0.7% 0.6% Chubb de México 5,883 6,329 3.6% 3.5% 448 51 5.4% 0.5% Inbursa 5,846 6,139 3.5% 3.4% 740 1,065 8.9% 10.1% Other 48,313 53,464 29.2% 29.6% 1,905 3,234 23.0% 30.6% TOTAL 165,219 180,480 100.0% 100.0% 8,295 10,584 100.0% 100.0% Source: AMIS. 55 35 Div DB Rev Dep TI LD Loan BAP Guid ESG Eco NIM NI ROE ICAP Mkt App Hist C/I GRUPO FINANCIERO BANORTE#36○ Annuities Market Share Resolutions * Market Share Million Pesos Jun-21 Jun-22 Jun-21 Jun-22 Banorte 10,145 10,164 45.0% 45.6% 1° Profuturo GNP 6,428 5,366 28.5% 24.1% Bancomer 5,954 6,773 26.4% 30.4% Total Industry 22,527 22,302 100.0% 100.0% Annuitants Market Share Jun-21 Jun-22 Jun-21 Jun-22 Banorte 7,775 8,053 45.6% 44.8% 1° Profuturo GNP 3,795 3,581 22.3% 19.9% Bancomer 5,472 6,336 32.1% 35.3% Total Industry 17,042 17,970 100.0% 100.0% *\ Legal document for any pensioners entitled to receive a pension. Source: AMIS to May 2022, SAOR to June 2022. 36 Div DB Rev Dep NIM TI LD Loan BAP Guid ESG Eco NI ROE ICAP Mkt App Hist C/I GRUPO FINANCIERO BANORTE#37GFNorte in the World Total Shares Outstanding: Float: Total ADRs (1) Outstanding: Market Capitalization Million Pesos 450,000 US 21.4 bn 431,221 2Q22 2,883.5 m 400,000 ~ 86% 6.48 m 350,000 Ticket Indexes 300,000 IPC (BMV) Sustainable IPC (BMV) GFNORTE O (BMV) 250,000 MSCI Mexico STOXX DJSI MILA 200,000 Climate Disclosure Leadership GBOOY (OTCQX) OTCQX30 Euronext Vigeo EM70 150,000 XNOR (Latibex) FTSE Latibex All Shares FTSE Latibex TOP (1) Level 1 Div DB Rev Dep 37 NIM TI LD Loan BAP Guid 37 NI ROE ICAP Mkt Hist C/I Oil and COVID-19 crisis 187,425 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 ESG App Eco 2Q22 GRUPO FINANCIERO BANORTE 323 437#3838 38 Analyst Opinion & Investment Grade by All Major Rating Agencies Analysts' Estimates (as of July 29, 2022) Ratings Agencies Rating Outlook Date Agency Net Income 2022 $42,314 Target Price $154.18 Standard & Poor's BBB Stable Jul-22 Maximum $191.0 Number of Analysts 22 Fitch BBB- Stable Dec-21 # BUY # HOLD # SELL 17 5 Moody's Baa2 Stable Jul-22 Div DB Rev Dep NIM TI LD Loan BAP Guid ESG Eco NI ROE ICAP Mkt App Hist C/I GRUPO FINANCIERO BANORTE#39//// ESG DB Rev Div Dep 39 NIM ΤΙ LD Loan BAP Guid ESG Hist NI ROE ICAP Mkt C/I App Eco E GRUPO FINANCIERO BANORTE#40○ Sustainability Strategy 40 40 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 MSCI ESG Latest Ratings Action: Upgraded to AA from "A" GOVERNANCE • Corporate Governance • Strategy and Materiality • Ethics and Accountability •Risk Management • Security of the Information ETHICAL boardroom CORPORATE GOVERNANCE AWARDS 2021 "Best Corporate WORLD FINANCE CORPORATE GOVERNANCE AWARDS 2022 Governance 2021" Div DB Rev Dep NIM TI LD Loan BAP Guid ESG Eco NI ROE ICAP Mkt App C/I Hist GRUPO FINANCIERO BANORTE#41Continuous evolution in ESG on the back of constant feedback from investors ESG UPDATES ENVIRONMENTAL Adhesion to PCAF for financed emissions quantification SBTI Commitment to Business Ambition for 1.5° C GEI México Program participation, GEI2 level SOCIAL In partnership with UNHCR, Banorte supports the financial inclusion of refugees in México through the Enlace Digital account Banorte appointed by Global Finance as one of the best banks in México for SMEs Banorte and Afore XXI Banorte appointed as Best Retail Bank and Best Pension Fund, respectively, by World Finance, for the 2nd consecutive year GOVERNANCE FTSE rating of 3.7/5 (+12.1% y/y). Adhesion to: FTSE4Good Emerging Index, FTSE4FGood Emerging Latin American Index and FTSE4Good BIVA GFNorte awarded the Best Corporate Governance in Mexico by World Finance for the 2nd consecutive year Rated "AA" by MSCI for the 2nd consecutive year NPS 2Q22: 74.70* 8.90 vs 2T21 4.40 vs 1T22 *For 2Q22, Banorte's Integrated NPS includes digital channels and strategic segments. 32 SUSTAINABLE FINANCE Afore XXI Banorte and Operadora de Fondos Banorte announced their alignment with the International Sustainability Standards Board's investment criteria Banorte and UNDP launched the "Public budgeting and finance program for sustainable development" Release of the Equator Principles Annual Report 2021 Div DB Rev Dep 21 NIM TI LD Loan BAP Guid ESG Eco 41 Hist NI ROE ICAP Mkt App C/I GRUPO FINANCIERO BANORTE#42Sustainable finance Loan book evaluation % of wholesale banking loan book IFC International Finance Corporation WORLD BANK GROUP 10.4 0.011 Responsible Investments - Mutual Funds %, share of total analyzed AUM by instrument Analyzed Not analyzed Analyzed by asset class Equities 42 Money markets 75 0.011 Fund's portfolio Fixed income 89 70 30 Cash 90 Mandates 100 . 0 50 100 15.0 12.5 10.5 10.0 9.1 0.003 0.388 0.389 7.5 5.5 5.0 0.126 2.5 0.0 1Q21 ■ Others 2Q21 ■Sustainable loan book 1Q22 2Q22 ■Climate-related loan book Loan book evaluation under Equator Principles Number of analyzed projects 7 6 5 st 4 4 3 3 2 2 1 0 1Q21 42 42 0 20 40 60 80 100 Responsible Investments - Pension Funds %, share of total analyzed AUM by instrument EQUATOR PRINCIPLES Analyzed Sustainable Analyzed Sustainable 6 Funds 80 Corporate debt 53 Equities 100 13 REITS 80 ETF's 100 35 Alternatives 100 22 2 Indexes 100 Sovereign debt 100 Mandates 100 Thematic bonds 100 1Q22 2Q22 0 50 100 50 100 2Q21 ■Low impact ■Medium impact ■High impact Div DB Rev Dep NIM TI LD Loan BAP Guid ESG Eco Hist NI ROE ICAP Mkt App C/I GRUPO FINANCIERO BANORTE#43○ Integrated Annual Report 2021 Updates To analyze ESG data performance, we follow best practices established by GRI, SASB and CDP questionnaire on climate change aspects. We release our first report on Climate-related risks and opportunities in accordance with the recommendations of the Task Force on Climate-related Financial Disclosures. We joined to a pilot effort headed by the Mexican Bankers' Association (ABM) to apply the open-code PACTA model, developed by the 2° Investing Initiative (2DII). We used the framework proposed by the International Integrated Reporting Council (IIRC) reporting the information in the following way: • Financial Capital Technology and Infrastructure Capital Human Capital Intellectual Capital Social Capital Natural Capital GFNorte Reports through the years 2000: First report that integrated ESG information • 2009: First ESG report aligned with GRI • 2011: First ESG report aligned with the UN Global Compact 43 43 2016: First ESG report aligned with IIRC 2020: First ESG report aligned with SASB 2021: First report on Climate-related risks and opportunities (TCFD) Climate changes BANORTE evolves Div DB Rev Dep NIM TI LD Loan BAP Guid ESG Eco Hist NI ROE ICAP Mkt App C/I Evolving for a stronger Mexico REPORT ON CLIMATE-RELATED RISKS AND OPPORTUNITIES 2021 BANORTE BANDRTE 2021 ANNUAL REPORT Note: All GFNorte reports are independently verified. GRUPO FINANCIERO BANORTE#4444 44 Hist Appendix DB Rev Div Dep NIM ΤΙ LD Loan BAP Guid ESG NI ROE ICAP Mkt C/I App Eco E GRUPO FINANCIERO BANORTE#45○ Quarterly Summary Income Statement Highlights - GFNorte (Million Pesos) Interest Income 2Q21 Change 1Q22 2Q22 1H21 1H22 1Q22 2Q21 Change 1H21 Interest Expense Net Interest Income 46,287 55,171 60,289 24,502 28,249 33,238 21,785 26,922 27,051 9% 30% 18% 36% 49,116 0% 24% 44,562 93,678 115,460 23% 61,487 25% 53,973 21% Net Service Fees 3,644 4,010 4,313 8% 18% 7,375 8,322 13% Premium Income Ins. & Annu. (Net) 8,602 15,756 8,967 (43%) 4% 23,942 24,723 3% Technical Reserves Ins. & Annu. 4,983 11,699 5,685 (51%) 14% 15,999 17,384 9% Cost of Acquisition from Insurance Operations 231 468 308 (34%) 33% 565 775 37% Net Cost of Claims and Other Obligations 5,777 6,796 6,594 (3%) 14% 12,873 13,389 4% Trading 744 1,466 1,032 (30%) 39% 1,604 2,498 56% Other Operating Income (Expenses) Non-Interest Income Total Income Non-Interest Expense Provisions Operating Income Taxes Subsidiaries' Net Income Minority Interest Net Income (225) (794) (312) 61% (38%) (310) (1,106) (256%) 1,774 1,476 1,413 (4%) (20%) 3,174 2,889 (9%) 23,559 28,398 28,464 0% 21% 47,736 56,862 19% 10,024 10,712 10,767 1% 7% 20,081 21,479 7% 2,766 2,668 2,434 (9%) (12%) 5,980 5,102 (15%) 10,770 15,018 15,264 2% 42% 21,675 30,282 40% 2,756 4,331 3,703 (15%) 34% 5,434 8,034 48% 676 197 128 (35%) (81%) 1,106 325 (71%) 122 136 166 22% 35% 234 301 29% 8,568 10,748 11,524 7% 34% 17,112 22,272 30% 45 45 Div DB Rev Dep NIM TI LD Loan BAP Guid ESG Eco NI ROE ICAP Mkt App C/I Hist GRUPO FINANCIERO BANORTE#46Quarterly Summary Financial Ratios GFNorte 2Q21 1Q22 2Q22 1H21 1H22 NIM (1) 5.0% 6.0% 5.9% 5.2% 6.0% ROE (2) 15.1% 18.1% 19.6% 15.2% 18.9% ROA (3) 1.8% 2.2% 2.3% 1.8% 2.2% Efficiency Ratio (4) 42.5% 37.7% 37.8% 42.1% 37.8% Operating Efficiency Ratio (5) 2.1% 2.2% 2.1% 2.1% 2.2% CCL Banorte and SOFOM - Basel III (6) 210.2% 221.9% 176.6% 210.2% 176.6% Past Due Loan Ratio 1.3% 1.0% 1.0% Coverage Ratio Cost of Risk (7) 172.7% 202.5% 193.4% 1.3% 172.7% 1.0% 193.4% 1.36% 1.27% 1.13% 1.5% 1.2% Banxico Reference Rate 4.25% 6.50% 7.75% 4.25% 7.75% TIIE 28 days (Average) 4.29% 6.01% 7.04% 4.33% 6.53% Exchange Rate Peso/Dollar (8) 19.91 19.91 20.13 20.17 20.02 Tax Rate 25.6% 28.8% 24.3% 25.1% 26.5% Balance Sheet Highlights - GFNorte 2Q21 1Q22 2Q22 Change (Million Pesos) 1Q22 2Q21 Asset Under Management 3,101,420 Loans Stage 1 787,909 Loans Stage 2 7,219 3,208,835 827,419 7,329 3,128,108 853,365 (3%) 1% 3% 8% 7,401 1% 3% Performing Loans, Stage 1 & 2 (a) 795,128 834,748 860,766 3% 8% Past Due Loans, Stage 3 (b) 10,618 8,440 8,898 5% (16%) Deferred Items (c) 1,505 1,580 1,590 1% 6% Loan Portfolio from Insur. Subs.(d) 2,601 2,927 3,025 3% 16% Total Loans (a+b+c+d) 809,851 847,695 874,279 3% 8% Preventive Loan Loss Reserves 18,337 Total Loans Net Total Assets Total Deposits Total Liabilities Equity 791,514 1,923,999 17,090 830,605 2,035,427 17,208 1% (6%) 857,071 3% 8% 2,033,316 (0%) 6% 810,082 836,028 865,191 3% 7% 1,694,677 1,791,336 1,800,068 0% 6% 229,322 244,091 233,248 (4%) 2% DB Rev Div Dep NIM TI LD Loan BAP Guid ESG Eco Hist NI ROE ICAP Mkt App C/I 46 46 GRUPO FINANCIERO BANORTE#47○ Quarterly Summary Change Change Share Data 2Q21 1Q22 2Q22 1H21 1H22 1Q22 2Q21 1H21 Earnings per share (Pesos) 2.971 3.728 3.996 7% 34% 5.935 7.724 30% Earnings per share Basic (Pesos) 3.002 3.756 4.028 7% 34% 5.997 7.784 30% Dividend per Share for the period (Pesos) 3.17 0.00 6.08 N.A. 92% 3.17 6.08 92% Payout for the period 25.0% 0.0% 50.0% N.A. 100% 25.0% 50.0% 100% Book Value per Share (Pesos) 78.48 83.59 79.95 (4%) 2% 78.48 79.95 2% Outstanding Shares - BMV (Million) 2,883.5 2,883.5 2,883.5 0% 0% 2,883.5 2,883.5 0% Stock Price (Pesos) 128.76 P/BV (Times) 1.64 Market Capitalization (Million Dollars) 18,651 149.55 1.79 21,657 112.17 Market Capitalization (Million Pesos) 371,274 431,221 1.40 16,065 323,437 (26%) (25%) (25%) (13%) 128.76 (22%) (14%) 1.64 (14%) 18,651 (13%) 371,274 323,437 112.17 (13%) 1.40 (14%) 16,065 (14%) (13%) INFRASTRUCTURE Employees* Branches Correspondents ATM's POS'S 2Q21 1Q22 2Q22 29,985 30,179 30,368 1,178 1,153 1,154 17,789 18,550 18,885 9,508 9,718 9,755 154,812 154,770 156,065 Div DB Rev Dep NIM TI LD Loan BAP Guid ESG Eco 47 Hist NI ROE ICAP Mkt App C/I GRUPO FINANCIERO BANORTE#48○ Healthy Liquidity 110% 108% Loans to Deposits (%) 105% 230% 210% 106% 190% 104% 170% 102% 100% 99% 150% 100% 98% 98% 130% 96% 110% 94% 90% 92% 90% T 70% 1Q 3Q 1Q 3Q 1Q 3Q 1Q 3Q 1Q 3Q 1Q 3Q 1Q 3Q 1Q 2015 2016 2017 2018 2019 2020 2021 2Q 2022 48 48 Liquidity Coverage Ratio CCL (%) 222% 210% 1Q 3Q 1Q 3Q 1Q 3Q 1Q 3Q 1Q 3Q 1Q 3Q 1Q 3Q 2015 2017 2018 2020 2016 2019 2021 Div DB Rev Dep TI LD Loan BAP Guid ESG Eco NIM NI ROE ICAP Mkt App Hist C/I T 1Q 2022 177% GRUPO FINANCIERO BANORTE#49Corporate 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 49 49 GRI THE GLOBAL COMPACT CDP DRIVING SUSTAINABLE ECONOMIES ESR IPC Sustentable EMPRESA SOCIALMENTE RESPONSABLE Natural Capital Declaration EQUATOR PRINCIPLES GE!2 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 signatories to integrate environmental, social and governmental (ESG) criteria into their investment and ownership decisions. MEKIce Div DB Hist Rev Dep NIM TI LD Loan BAP Guid ESG Eco NI ROE ICAP Mkt App C/I UNEP FINANCE INITIATIVE Dow Jones Sustainability Indexes ABM DE BANCOS DE MEXICO STOXX EURONEXT vigeo HOCES FTSE4Good 2016 Bloomberg Gender Equality Index FINANCIAL PRI SERVICES Principles for Responsible Investment GRUPO FINANCIERO BANDRTE#50Contact 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 2Q22 report. During 2022 we have released: 1. 2345 Annual Report 2021 to the Banking and Securities Commission (CNBV) Annual Report 2021 to the Stock Exchange (Informe Anual Circular Única de Emisoras) Audited Financial Statements 2021 Annual Financial and CSR Report 2021 under the GRI and SASB methodology (PDF & Interactive) Report on Climate - Related Risk and Opportunities TCFD 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. Div DB Rev Dep 50 50 NIM TI LD Loan BAP Guid ESG Eco Hist NI ROE ICAP Mkt App C/I GRUPO FINANCIERO BANORTE#51Economic and Financial Perspectives DB Rev Div Dep 555 51 NIM ΤΙ LD Loan BAP Guid ESG Hist NI ROE ICAP Mkt App C/I Eco E GRUPO FINANCIERO BANORTE#52Forecasts of main economic and financial variables Forecasts of main macroeconomic and financial variables in Mexico End of period GDP (% y/y) Inflation 2020 2021 2022F 2023F -8.1 4.8 2.1 1.0 (% y/y) 3.2 7.4 8.1 4.1 Exchange rate 19.91 20.53 20.70 21.80 USD/MXN Banxico's reference rate 4.25 5.50 10.00 8.50 (%) 28-day TIIE (%) 4.48 5.72 10.35 8.77 Mexbol (points) Note: F: Forecast Source: Banorte 44,066 53,272 53,500 57,500 Div DB Rev Dep 52 52 NIM TI LD Loan BAP Guid ESG Eco Hist NI ROE ICAP Mkt App C/I GRUPO FINANCIERO BANORTE#53Risks for Mexico include a challenging global backdrop 53 53 Images: Globe (www.rkcounsel.com); Coronavirus (who.int); Russian and Ukrainian flags (theowp.org); Central bank (cadtm.org) COVID-19 Conflict in Ukraine france, government banking interest rate ational policy system monetary national Central Bank bank nk central cente central Restrictive monetary policy DB Div Rev Dep NIM TI LD Loan BAP Guid ESG Eco Hist NI ROE ICAP Mkt App C/I GRUPO FINANCIERO BANORTE#54Mexico appears to be entering a fifth wave of contagions, albeit with resilient mobility Daily COVID-19 cases Thousands 70 61 Daily deaths due to COVID-19 Thousands 5.0 Google mobility indices % deviation vs. pre-pandemic levels Retail and recreation Transit stations -Workplaces 60 60 50 40 40 30 20 20 10 4.0 30 10 20 3.0 10 2.0 1.0 -10 -20 0.0 -30 Dec-21 Jul-22 Feb-20 Dec-20 Sep-21 Jul-22 Jul.-21 Nov.-21 Mar.-22 Jul.-22 0 Feb-20 Sep-20 May-21 *Note: Colored lines indicate 7-day moving average Source: Ministry of Health DB Rev Div Dep 54 54 NIM TI LD Loan BAP Guid ESG Eco Hist NI ROE ICAP Mkt App C/I GRUPO FINANCIERO BANORTE#55Households' mobility has fully recovered Time Spend Outside Home % Change from January 1st, 2020 40 40 30 20 20 10 0 -10 -20 -30 -40 ти Jan-20 Source: Banorte 55 55 -31.2% Aug-20 Apr-21 wwwwww 10.5% Nov-21 Div DB Rev Dep NIM TI LD Loan BAP Guid ESG Eco NI ROE ICAP Mkt App Hist C/I Jun-22 GRUPO FINANCIERO BANORTE#56War in Ukraine: Few direct effects on Mexico's international trade, but with challenges from indirect channels Mexico: Total trade flows US$ billions (average 2018-2021) Mexico: Main exports to Russia* US$ millions (in 2020) Mexico: Main exports to Ukraine* US$ millions (in 2020) US 569.2 1° Engines 161.9 Beer 10.3 China 93.2 2° Auto parts 49.2 Engines 6.9 Germany 23.7 3° Telecom eq. 47.4 Fluorite 4.2 Canada 23.2 4° Copper Beer 25.3 Ships 2.2 23.9 Alcoholic drinks 1.3 South Korea 22.3 5° T T 0 50 Japan 100 150 200 0 5 10 15 20.7 6° Mexico: Main imports to Russia* Malaysia 11.3 7° US$ millions (in 2020) Brazil 10.8 8° Fertilizers 186.0 Mexico: Main exports to Ukraine* US$ millions (in 2020) Fertilizers chem. 21.7 Taiwan 10.0 9° Aluminum 161.0 Ilmenite 20.4 Spain 9.2 10° Fertilizers chem. 134.8 Wheat 14.7 Russia 2.0 28° Rubber 27.1 Edible oil 5.3 Ukraine 0.2 65° Furniture 26.6 Refractory clays 4.4 T T 0 200 400 600 0 50 100 150 200 05 10 15 20 20 25 25 *Note: Groupings by four-digit tariff fraction Source: Banxico, Ministry of Economy, Banorte Div DB Rev Dep 66 NIM TI LD Loan BAP Guid ESG Eco 56 Hist NI ROE ICAP Mkt App C/I GRUPO FINANCIERO BANORTE#57О War in Ukraine: The greatest impact on Mexico can be seen through: (1) Inflation; (2) fiscal accounts; and (3) volatility in financial markets GDP: Oil and gas $ trillion; % of the total (in 2021) ■ Oil and gas ■ Other 17.8 96% 0.7 4% O Public Finances: Oil Revenues $ billion; % of the total (in 2021) ■ Oil Non-oil 4,804.4 80.6% 1,156.5 O 19.4% *Note: It is calculated based on gasoline sales figures and imported volumes. Source: INEGI, MOF, Pemex, Banorte 2% 28.93 6% Contribution of energy in inflation % of the total ■ Gas (LP and natural) ■Gasolines (low and high grade) ■ Rest O 92% Gasoline sales in Mexico* kbpd; % of total sales (in 2021) ■Domestic ■Imported O. 6% 226 Oil exports US$ billion; % of total (in 2021) ■ Oil ■ Non-oil Oil imports 465.3 94% O US$ billion; % of total (in 2021) ■ Oil Non-oil 451.9 89% 53.9 11% C™ 341 60% 40% Div 40 DB Rev Dep NIM TI LD Loan BAP Guid ESG Eco 57 NI ROE ICAP Mkt App Hist C/I GRUPO FINANCIERO BANORTE#58The recovery has been heterogeneous, with ample room to be made up in certain states and sectors State activity level in 4Q21 vs. the most recent peak (3Q18) %, seasonally adjusted figures Tabasco Baja California Tlaxcala Sinaloa Chihuahua Sonora State of Mexico Yucatán Durango 114.1 108.1 101.9 100.8 100.5 100.1 99.2 99.2 98.5 Oaxaca 98.4 Colima Chiapas Michoacán Jalisco Guerrero Veracruz 98.2 98.2 98.2 98.0 97.9 97.5 Nayarit 97.1 Nuevo León 97.1 Zacatecas Guanajuato Tamaulipas Querétaro San Luis Potosí Morelos Quintana Roo Hidalgo Coahuila Aguascalientes Puebla Mexico City Campeche Baja California Sur Source: Banorte with data from INEGI 95.7 95.5 95.4 95.4 95.4 94.4 94.3 92.6 90.8 89.9 89.6 88.7 84.3 77.0 Economic activity level in 1Q22 vs. the most recent peak (3Q18) %, using seasonally adjusted figures Mass media Corporate services Healthcare Real-estate services Agriculture Wholesales 111.8 110.3 106.7 104.5 103.5 102.4 Manufacturing Professional services 101.3 100.5 Retail sales 100.3 Transport 99.7 Mining 99.6 Education 98.8 Government activities Entertainment Hotels and restaurants Utilities Financial services Other services Construction 98.4 94.7 94.2 93.9 92.7 90.1 83.1 Business support 30.6 58 58 Div DB Rev Dep NIM TI LD Loan BAP Guid ESG Eco NI ROE ICAP Mkt App Hist C/I GRUPO FINANCIERO BANORTE#59Mexico will continue growing at different speeds Economic growth by state % y/y, 2015-2019 average Source: INEGI 59 59 3.80 2.20 3.40 2015-2019 Average GDP ■1.5+ 0 to 1.5 <0 1.10 1.60 3.40 160 -0.60 3.10 2.10 3.20 2.50 3.30 2.40 2.70 3.10 2.30 2.402.70 2.80 1.60 2.50 0.50 1.10 3.30 4.50 -5.40 -4.50 0.30 -2.30 Div DB Rev Dep NIM TI LD Loan BAP Guid ESG Eco NI ROE ICAP Mkt App Hist C/I GRUPO FINANCIERO BANORTE#60Nowcasting Economic Activity – IGAE (GDP proxy) Nowcasting of Monthly Economic Activity - IGAE % y/y; nsa 30 IGAE Nowcast 20 20 10 10 0 -10 2.54 2.75 IGAE Nowcast 1.85 1.18 1.57 1.34 1.27 1.15 1.18 0.40 0.40 GRUPO FINANCIERO BANORTE -30 Feb-18 Mar-19 Apr-20 May-21 Jun-22 Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 -20 Source: Banorte 60 60 Div DB Rev Dep NIM TI LD Loan BAP Guid ESG Eco Hist NI ROE ICAP Mkt App C/I#61Nowcasting - Private Consumption Nowcasting Private Consumption % y/y; nsa 40 30 30 20 20 10 0 -10 -20 Private Consumption Nowcast Private Consumption Nowcast 10.03 9.11 8.73 9.29 7.4 7.07 5.89 8.79 8.24 7.58 7.38 -30 Feb-18 Mar-19 Apr-20 May-21 Jun-22 Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Source: Banorte 199 61 Hist Div DB Rev Dep NIM TI LD Loan BAP Guid ESG Eco NI ROE ICAP Mkt App C/I GRUPO FINANCIERO BANORTE#62Performance of households' expenditures Households' Expenditures – Resilient Sectors Debit & Credit Purchases; January 1st, 2020 = 100 350 Supermarkets Healthcare Retail Sales 300 Households' Expenditures - Vulnerable Sectors Debit & Credit Purchases; January 1st, 2020 = 100 250 Accomodation and Food Services - Transportation Recreation, Sports and Cultural Events 250 200 150 200 150 54.1% 41.3% 100 38.4% 51.2% 23.9% -22.8% 100 -29.6% -83.8% 50 -55.8% 50 -51.6% -87.7% -88.3% 0 0 Jan-20 Aug-20 Apr-21 Nov-21 Jun-22 Jan-20 Aug-20 Apr-21 Nov-21 Jun-22 Source: Banorte Div DB Rev Dep 62 62 NIM TI LD Loan BAP Guid ESG Eco Hist NI ROE ICAP Mkt App C/I GRUPO FINANCIERO BANORTE#63SMEs reopening: Recovery of medium businesses Surviving SMEs - Size of Business POS Billing; January 1st, 2020 = 100 130 120 110 100 90 90 80 80 70 0 60 60 50 40 Jan-20 Source: Banorte -35.0% Small Medium Jun-20 www -53.1% 17.0% 14.6% Nov-20 Apr-21 Sep-21 Feb-22 Jul-22 Div 83 DB Rev Dep 63 NIM TI LD Loan BAP Guid ESG Eco NI ROE ICAP Mkt App Hist C/I GRUPO FINANCIERO BANORTE#64O Performance of businesses revenues SMEs' Revenues - Resilient Sectors POS Billing; January 1st, 2020 = 100 220 170 120 Retail Sales Healthcare Manufacturing SMES' Revenues - Vulnerable Sectors Debit & Credit Purchases; January 1st, 2020 = 100 250 200 Professional Services Recreation, Sports and Cultural Events Accommodation and Food Services Transportation and Storage 62.47% 61.76% 150 21.73% 100 -73.4% 1.67% 54.35% 3.47% -3.18% 70 70 -68.15% -76.82% -75.05% 50 -88.74% 20 0 -93.76% -92.35% Jan-20 Aug-20 Apr-21 Nov-21 Jul-22 Jan-20 Aug-20 Apr-21 Nov-21 Jul-22 Source: Banorte Div DB Rev Dep 50 64 NIM TI LD Loan BAP Guid ESG Eco Hist NI ROE ICAP Mkt App C/I GRUPO FINANCIERO BANORTE#65Signs of greater dynamism in 1Q22, although with further risks ahead 2022 GDP: Supply 2022 GDP: Demand % y/y nsa; % q/q sa % y/y nsa; % q/q sa % y/y 1Q22 2Q22 3Q22 4Q22 2022 % y/y 1Q22 2Q22 3Q22 4Q22 2022 GDP 1.8 1.3 2.5 2.7 2.1 GDP 1.8 1.3 2.5 2.7 2.1 Private 7.2 4.1 4.7 3.4 4.8 consumption Agriculture 1.9 -0.5 1.5 2.0 1.2 Investment 5.6 1.3 2.2 1.4 2.6 Industrial 3.1 2.4 2.6 2.1 2.5 Government production 0.8 0.8 1.1 0.3 0.8 spending Services 0.9 0.8 2.5 3.0 1.8 Exports 10.1 8.6 6.4 4.8 7.3 Imports 5.8 6.4 5.4 7.6 6.3 % 9/9 % 9/9 GDP 1.0 0.5 0.7 0.5 GDP 1.0 0.5 0.7 0.5 Note: Underlined figures indicate forecasts Source: INEGI, Banorte Div 95 65 DB Hist Rev Dep NIM TI LD Loan BAP Guid ESG Eco NI ROE ICAP Mkt App C/I GRUPO FINANCIERO BANORTE#66Banxico will keep hiking amid a very challenging inflationary outlook Inflation forecast % y/y fortnightly frequency Reference rate's trajectory % 14 11 13 10 12 11 9 10 2022: 8 9 8.1 8 2021: 7.3 7 6 10.00 8.25 8.50 6 5 4 3 2020: 2 3.2 1 2023: 5 4.1 -Headline .Core 4 Non-core 4.00 3 3.00 0 2 Dec-20 Jun-21 Dec-21 Jun-22 Dec-22 Jun-23 Dec-23 Dec-08 Dec-11 Dec-14 Dec-17 Dec-20 Dec-23 Source: INEGI, Banxico, Banorte Div 66 99 DB Rev Dep NIM TI LD Loan BAP Guid ESG Eco NI ROE ICAP Mkt App Hist C/I GRUPO FINANCIERO BANORTE#67О Market volatility, inflation concerns, and actions from central banks have impacted currencies, albeit with idiosyncratic factors still at play individually 2022 performance vs. USD %, YTD RUB USD/MXN forecast Pesos per dollar 33.5 24.25 PEN 33.55 23.00 BRL MXN 0.4 21.75 HKD -0.7 IDR -4.8 20.50 COP -5.0 CNY -5.8 19.25 MYR -6.4 ZAR -6.5 ил TWD -7.4 CLP -8.2 PLN -13.1 HUF -16.4 ARS -20.4 TRY -24.2 18.00 Dec-17 Dec-18 Dec-19 Dec-20 Dec-21 IMM positioning in USD/MXN futures USD$ billion (negative = net long in MXN) 3.0 Forecast 21.80 20.70 Dec-22 Dec-23 CAD -2.0 AUD -5.0 CHF -5.7 1.0 NZD -8.7 EUR -9.9 -1.0 DKK -10.0 NOK -11.0 GBP -11.2 -3.0 SEK -11.4 JPY -16.5 -5.0 -35 -25 -15 -5 5 15 25 35 Jan-14 Jun-15 Nov-16 Apr-18 Sep-19 Feb-21 Jul-22 Source: Banorte with data from Bloomberg and CME Div DB 20 Rev Dep NIM TI LD Loan BAP Guid ESG Eco 67 Hist NI ROE ICAP Mkt App C/I GRUPO FINANCIERO BANORTE#68Latest public finances update -including some of the shocks- showed little changes on fiscal accounts MoF: Macroeconomic assumptions and fiscal variables Historical Balance of Public Sector Borrowing Requirements (HBPSBR) % of GDP 2022 2023 60 Actual ■GEPC (Sep'21) ■Pre-GEPC (Apr'22) GDP (% y/y) Inflation (% y/y) Exchange rate (USD/MXN) 3.4 (Consensus: 1.8) 5.5 (Consensus: 7.5) 20.70 (Consensus: 20.79) 3.5 (Consensus: 1.9) 3.3 (Consensus: 4.5) 51.7 50 49.6 49.6 49.6 49.6 49.6 49.6 49.6 48.7 50 45.7 44.9 44.5 40 التتتت T 20.90 2016 2018 2020 2022 2024 2026 2028 (Consensus: 21.33) Oil price (US$/bbl) 92.9 (YTD: 90.9) Rating agencies 61.1 Fitch Ratings S&P Global MOODY'S Oil production 1,820 A- A- A3 1,851 (kbpd) (To May: 1,627) BBB+ BBB+ Baa1 PSBR (% of GDP) -3.7 (Consensus: -3.9) -3.3 (Consensus: -3.8) Sovereign BBB BBB Baa2 Sovereign PEMEX BBB- Sovereign BBB- Baa3 HBPSBR BB+ BB+ Bal Investment grade threshold 49.6 49.6 (% of GDP) BB BB Ba2 BB- PEMEX BB- Ba3 Notes: PSBR stands for Public Sector Borrowing Requirements. Consensus comes from Banxico's survey Source: SHCP, Bloomberg, Banxico, National Hydrocarbon Comission, Rating agencies B+ B+ B1 PEMEX Div DB Rev Dep 80 NIM TI LD Loan BAP Guid ESG Eco 68 NI ROE ICAP Mkt App Hist C/I GRUPO FINANCIERO BANORTE#692022: A very relevant year for Mexican politics 2022's relevant dates in the political agenda Sep.-1 Sep-1: Start of Congress ordinary sessions' period Sep-8: Deadline to present Budget Proposal 2023 Oct.-6 Oct-31: Deadline to approve the Revenue Law Nov.-10 Nov-15: Deadline to approve the Spending Budget Dec-15: President López Obrador's pending reforms Constitutional or that require a qualified majority in Congress: Electricity sector reform CFE Conéctate con el Debate de la Reforma Eléctrica Enterate informate Parties End of Congress ordinary sessions' period ■ Electoral reform Dec.-15 Dec-31: Gerardo Esquivel's last day as Deputy Governor at Banxico* INE Instituto Nacional Electoral Incorporation of the National Guard to the Ministry of Defense SEDENA SECRETARÍA DE LA DEFENSA NACIONAL GUARDIA NAC UARDIA NACIONAL *Nota: May be re-elected for another 8-year term Source: Banxico, INEGI, Lower House, Senate, INE, Local media; Images: CFE, El Financiero, Lower House, El Sol de México, INE, SEDENA Div DB Rev Dep 69 NIM TI LD Loan BAP Guid ESG Eco Hist NI ROE ICAP Mkt App C/I GRUPO FINANCIERO BANORTE#70Composition of the Lower House and Senate Lower House Seats Morena 203 Absolute majority: 251 Qualified PT PVEM majority: 334 MC 33 40 25 PRD 15 PRI 70 PAN 113 Ind. 1 Senate Seats Morena 61 Simple majority: 65 Qualified PVEM PES majority: 86 MC PT 6 4 9 PRD 4 PRI 13 PAN 22 Ind. 6 Morena + PT + PVEM = 276 representatives (58 missing for 2/3) Morena + PT + PVEM + PES = 75 senators (11 missing for 2/3) Source: Lower House, Senate 70 0 Hist Div DB Rev Dep TI LD Loan BAP Guid ESG Eco NIM NI ROE ICAP Mkt App C/I GRUPO FINANCIERO BANORTE#71Implications of Lower House elections, in which the President's party (Morena) and allies have an absolute majority (>50%), but not a qualified one (>66%) With an absolute majority they can approve... ◆ Obtained with 50% + 1, equivalent to 251 legislators. This is enough for changes to secondary laws, rules and to determine the legislative agenda, among others Some examples of matters that only require an absolute majority include: (1) Approval of the Spending Budget and Revenue Law (2) Changes to Banco de México's law (3) Approval of legislative projects (4) Presidency of the Political Coordination Board (5) Distribution of Committee Heads ...while a qualified majority is required for ◆ Obtained with at least two thirds of the House (334 legislators) and Senate (86). It is necessary to make constitutional changes and implies the need to boost consensus, especially on legal reforms or transcendent matters ◆ Some examples that require a qualified majority include: (1) Reversing the energy reform (2) Eliminate autonomous offices (3) Elimination of proportional representation legislators (4) Define other crimes as severe, requiring preventive prison (5) Modify the civil profile of the National Guard . COMISIÓN DE HACIENDA Y CRÉDITO PÚBLICO JUNTA DE COORDINACIÓN POLÍTICA LXII LEGISLATURA CÁMARA DE DIPUTADOS B BANCO DE MÉXICO® Source: Lower House, EMPRA, Animal Político, El Economista, El Financiero. Images: Lower House, Banxico, Platform (masqueingenieria-com) Guard (eleconomista.com.mx). 74 71 Div DB Rev Dep NIM TI LD Loan BAP Guid ESG Eco Hist NI ROE ICAP Mkt App C/I GRUPO FINANCIERO BANORTE#72О ○ Mexico's geographical location, benign demographics and natural resources (among other factors) remain as key drivers for the economy Real GDP growth % y/y FDI US$ billion in nominal terms 10 6.8 5.2 4.0 6.8 4.9 15.2 4.9 5.1 Avg 2.3 5 3.5 3.9 4.5 3.7 4.8 3.3 2.8 2.3 2.3 3.6 2.8 2.6 Utility reinvestment and accounts between companies 48 1.4 11 1.4 2.12.2 50 ■New investments 40 TTT -0.4 30 36 0.0 -0.2 30 18 -5 18 24 252621 30 32 31 31 34 34 272622 34 2832 20 14 18 -6.3 -5.3 10 -10 -8.2 0 T TTTTTT 1990 1992 1994 1996 1998 2000 2002 2004 2006 2006 2008 2010 2010 2012 2014 2016 2018 2020 Average hourly wages US$ in nominal terms 6 Mexico (LHS) China (LHS) 40 40 Population pyramid in 2020 Million people by age bracket Men Women 4949494T4 00.00 ETIEN 2007 2009 2011 Labor productivity in manufacturing Index 100 = 2013 104 -6 -4 .2 0 2 4 6 Annual GDP growth expectation for the next 10 years % y/y 4.5 4 US (RHS) 2 0 *Note: 2006 2007 2008 2009 2010 2011 2012 2014 2013 2015 2016 2017 2018 2019 2020 20 20 0 Source: Banorte with data from Banxico, INEGI, FRED, Chinese Statistics Bureau 99 99 94 89 84 1Q05 4Q07 3Q10 2Q13 1Q16 4Q18 3Q21 3.5 2.5 2.1 1.5 Jan-13 May-15 Sep-17 Jan-20 May-22 Div DB Rev Dep 72 NIM TI LD Loan BAP Guid ESG Eco Hist NI ROE ICAP Mkt App C/I GRUPO FINANCIERO BANORTE#73Nearshoring's impact for Mexico vs countries from the other region Nearshoring: Potential increase in exports US$ millions, trade in goods Country Profits per US Other profits Total Mexico 29,679.4 5,598.8 35,278.2 MÉXICO 35.278 BELIZE HONDURAS 44" 1.243 JAMAICA EL SALVADOR 139 1.050 BAHAMAS 177 REPUBLICA DOMINICANA 1.581 Brazil 4,153.0 3,691.1 7,844.1 GUATEMALA 786 NICARAGUA 568 Argentina 890.7 3,015.8 3,906.5 COSTA RICA 1.545 Colombia 1,498.5 1,075.3 2,573.8 DANAMA 802 COLOMBIA 2.574 TRINIDAD Y TOBAGO HAITI 253 BARBADOS 61 477 SURINAM 58 GUYANA 400 VENEZUELA 321 ECUADOR 841 Chile 665.8 1,157.1 1,822.9 PERÚ 1.418 BRASIL 7.844 Dominican Republic 1,362.9 217.8 1,580.7 BOLIVIA 125 PARAGUAY Costa Rica 918.1 626.7 1,544.8 251 0-1000 Peru URUGUAY 792.0 626.4 1,418.5 528 CHILE 1.823 Honduras 745.1 497.7 1,242.8 1000 - 2000 ARGENTINA 3.907 El Salvador 686.4 Other* 2,362.6 363.5 3,468.1 1,049.9 +2000 5,830.9 Nota: *Other include Ecuador, Panama, Guatemala, Nicaragua, Uruguay, Republic of Trinidad and Tobago, Guyana, Venezuela, Haiti, Paraguay, Bahamas, Jamaica, Bolivia, Barbados, Surinam, Belize Source: BID Div DB Rev Dep TI LD Loan BAP Guid ESG Eco NIM 73 NI ROE ICAP Mkt App Hist C/I GRUPO FINANCIERO BANORTE#74Banking sector KPI's Capitalization ratio % of net capital / credit risk assets 40 Capitalization ratio Banking sector's average 35 30 25 26.38 20 15 10 0 5 Santander Banorte Credit Suisse Banco Covalto (antes: Finterra) Inbursa BBVA México Bansí Multiva Monex Invex BIAfirme Banamex Banco del Bajío Intercam Banco Banco Azteca Scotiabank Bank of America BanCoppel Inmobiliario Mexicano Source: CNBV, Banorte with data as of May.-22 Afirme CIBanco Bankaool Banregio Actinver Banco Base Banca Mifel Ve por Más HSBC Bancrea Sabadell Autofin Consubanco ABC Capital 19.34 0 3 2 1 5 4 9 Non-performing loans ratio % of total loan portfolio 10 9 8 00 Total 7 T 2006 2008 Div DB Rev Dep NIM TI LD Loan BAP Guid ESG Eco 74 NI ROE ICAP Mkt App Hist C/I Mortgage Consumer Firms мил 2010 2012 2014 2016 2018 2020 2022 GRUPO FINANCIERO BANORTE#75Financial access in Mexico Key FAS Indicators 2016 2017 2018 2019 2020 Outstanding deposits with commercial banks % GDP 30 28.85 Number of ATMs per 100,000 adults Number of commercial bank branches per 100,000 adults Outstanding deposits with commercial banks (% of GDP) Outstanding loans from commercial banks (% of GDP) Outstanding small and medium enterprise (SME) loans from commercial banks (% of GDP) Number of registered mobile money accounts per 1,000 adults 54.59 55.62 58.82 61.54 62.13 14.02 14.03 13.86 13.73 12.79 23.97 24.04 24.33 24.66 28.85 21.56 21.64 22.04 22.12 22.93 25 25 20 T 2012 2013 2014 2015 2016 2017 2018 2019 2020 Outstanding loans from commercial banks % GDP 27 222 22 2.14 1.98 1.87 1.78 1.76 147.24 166.90 273.61 437.74 520.78 17 22.93 2012 2013 2014 2015 2016 2017 2018 2019 2020 Source: IMF 55 75 DB Rev Div Dep NIM TI LD Loan BAP Guid ESG Eco NI ROE iCAP Mkt App Hist C/I GRUPO FINANCIERO BANORTE