Investor Presentaiton

Total Operating Expenses down 12% yoy Total operating expenses down 12% yoy Group Financial Results for the year ended 31 December 2020 Cost to income ratio¹ at 60% for FY2020, broadly flat yoy (€ mn) -12% 385 340 63% 62% 64% 58% 57% 165 59% 59% 60% 145 57% 96 91 84 81 84 43 55 35 34 35 41 220 195 53 49 47 49 50 4Q2019 1Q2020 2Q2020 3Q2020 4Q2020 FY2019 FY2020 1 C/I ratio • Other operating expenses Staff costs Staff costs of €195 mn for FY2020, down 11% yoy, reflecting the Voluntary Staff Exit Plan in 4Q2019 • Staff costs of €50 mn for 4Q2020, broadly flat qoq FY2019 1H2020 9M2020 FY2020 Special Levy and contributions to SRF and DGF (€ mn) 9 9 7 6 6 • • • Operating expenses of €145 mn for FY2020, down 12% yoy, resulting from focus of management to contain costs and savings from 1H2020 lockdown Operating expenses of €41 mn for 4Q2020, up 16% qoq, due to seasonally higher marketing, property and professional fees Targeted Voluntary Staff Exit Plan in 4Q2020; total cost of €6 mn with a gross saving of c.€2 mn p.a. (1%) C/I ratio of 60%¹ for FY2020 broadly flat yoy despite cost reduction, as revenues remain under pressure Bank of Cyprus Holdings 4Q2019 1Q2020 2Q2020 3Q2020 4Q2020 Special levy and contributions to SRF and DGF for 4Q2020 reduced to €6 mn due to the seasonality of Deposit Guarantee Fund (contribution) 1) Excluding Special Levy and contributions to SRF and DGF 23

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