Financial and ESG Performance Review

novobanco 2022 performance and 2023 targets translating into a clear positive ratings trajectory CET1 FL ratio 13.1% 12.8% > 2.5% of RWAS capital generation 13.4% 13.5% 13.7% 12.6% 12.3% 2019 12.7% 2022 novobanco 2023E B BB/Ba BBB/Baa 2019 2022 1H22 peer average¹ novobanco Asset quality CET 1 phased-in ratio Profitability² >1.4% 1.2% 7.7% 5.9% 4.3% <4.5% 2019 2022 2023E 3.3% 2019 2022 novobanco 2023E novobanco B BB/Ba BBB/Baa 1H22 peer average1 14.4% 13.1% B BB/Ba 1H22 peer average¹ 12.4% BBB/Baa 0.6% 0.4% 0.2% B BB/Ba BBB/Baa 0.9% considering 2022 underlying profitability of (2.2%) €406.7mn novobanco 1H22 peer average¹ (1) Source: novobanco analysis, Banks considered for the analysis include European peers. Rating refers to Senior Preferred; (2) Profitability calculated as attributable net income divided by tangible assets; tangible assets defined as total assets deducted by goodwill and other intangibles; 36 36

View entire presentation