Investor Presentaiton

Transaction highlights Transaction Overview Strategic Rationale KBC Bank NV has agreed to acquire 100% of Raiffeisenbank BG (RBBG) for a total consideration of 1015m EUR (the "Transaction"). The transaction perimeter also includes a leasing company (10.5% market share, 234m EUR portfolio), a small asset management firm (9.7% market share with 106m EUR AuM) and a small insurance brokerage for RBBG leasing and corporate clients. ■ EPS accretive from year 1 onwards. The Purchase Price represents a 1.64x multiple of the 2022E Tangible Book value and a 13 P/E (1) (based on 2022E earnings) ■ The acquisition price will be paid in cash ■Transaction is subject to the relevant regulatory approvals and expected to close in mid-2022 Materially strengthening our top 3 market position of the banking franchise (the 2nd biggest franchise by loans with a 17% market share), in one of KBC Group's core markets, reinforcing our position as the #1 financial group in Bulgaria. ■ Substantial value creation for shareholders through synergies which are expected to reach ~ 12m EUR in 2022 quickly ramping up to ~ 29m EUR in 2024 and remaining above ~25m EUR from 2025-2031 (pre-tax numbers) ■ Raiffeisenbank BG is an attractive successful standalone franchise with a proven track record and a holistic product offering including leasing, asset management and insurance ancillaries, boosting best-in-class NPS scores, aligning perfectly to KBC's strategic priorities. ■ Raiffeisenbank BG has a track record of delivering attractive growth and profitability, on a standalone base. Combined with the net synergy assumptions this leads to attractive return on investment for KBC Group. ■ The transaction allows KBC Group to deploy excess capital in a value accretive transaction, in a core market. ☐ Estimated capital impact on KBC Group's CET1 (9M21: 16.4% (2)) will amount to -1pp upon closing Financial Impact ■ The Transaction will be accretive from year 1 to KBC Group's EPS Source: Company data (1) (2) KBC Bank is financing the Transaction in cash using internal resources KBC Group Dividend policy to remain unchanged (at least 50% pay-out ratio including interim dividend and AT1 coupon) Including RR synergies (Run Rate synergies: recurring for longer terms & perpetual synergies) Fully loaded (Danish Compromise). No IFRS interim profit recognition. Pro forma CET1 including 100% of 9M21 profit recognition 18.1% KBC

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