Investor Presentaiton

Benefits from staff and NPE reduction to offset near term cost pressure H1 20 Recurring pf for Cepal YOY Staff costs (9.1) G&A D&A H121 Recurring 12.3 5121 • • 4.2 519 Staff costs: down on HR initiatives in Greece and Cyprus • G&A: increase yoy on higher IT and product related costs on increased volumes, also linked with higher revenues, as well as increased fees to Resolution fund D&A: increase reflecting heightened IT investments to support the Bank's transformation NPA Management Group Recurring, € mn -60% (-103) 173 85 70 | H121 2021E BP Target 2024E BP Target Core Operations Group Recurring, € mn 858 795 434 H121 2021E BP Target 2021E target 2024E BP Target 1 H1 20 Recurring pro-forma for Cepal by €11.4mn, i.e. CEPAL stand alone operating costs for the period 1/1-30/6/2020. HR: 8mn, G&As: 3, D&A: 0.5mn ~ € (1.03)bn 15 ALPHA SERVICES AND HOLDINGS

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