1H22 Financial Performance

novobanco continued to grow its profitability, reaching a RoTE of 11%, a further confirmation of the sustainability of its trajectory From Income Before Tax to Underlying Profitability (1H22; €mn) +75% YOY 11.0% ROTE1 343.0 +3.4 ============ (82.9) (77.1) +5.6 160.2 (31.7) Income Special Tax & Before Tax Market Resolution Funds Results² contributions (pro-rata) portfolio (Logistics) Gain from the Non-recurring sale of RE Operating costs Release of provisions for Other contingencies Underlying Profitability (pre-tax) • Consolidated income before tax at €343mn up from €196mn in 1H21, with improvement in the banking income (+€82.4mn) and a lower level of impairments and provisions (-77.8%; -€69.4mn). • Underlying profitability (pre-tax) at €160.2mn after deducting Special Tax on Banks, considering Resolution Funds contributions (on a pro-rata basis), excluding positive markets results (€83mn), gains from the sale of the logistics portfolio (€77.1mn), non- recurring costs (€5.6mn) and release of provisions for other contingencies (€31.7mn) ⚫ A solid business model delivering RoTE1 at 11.0%, with further upside driven by increasing interest rates. novobanco (1) Tangible Equity = average phased-in RWA x 12%; Annualized; Considers Underlying profitability pre-tax deducted by special tax on banks (€34mn on annual basis) and contributions to Resolution Funds (€40.9mn on annual basis); (2) Excludes dividends from strategic holdings 20 20

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