Investor Presentaiton

Adequately high international reserves cushion the economy against external shocks Gross reserves increased by US$102 m in 2023, while net reserved were up US$ 623 m I Gross international reserves, USD bn • Net international reserves, USD bn -3 months of goods and services imports* In 4Q23, the NBG discontinued hard currency purchases as FX inflows slowed ■Central bank's interventions, net purchase in US$ m 5.0 5.1 4.9 4.3 3.9 3.5 3.3 3.0 2.8 2.5 I ● 5 1.6 1.5 - 5.3 I 5.0 2.9 2.8 2.7 2.4 2.2 1.6 1.7 1.8 1.7 1.6 2015 2016 2017 2018 2019 2020 2021 2022 1Q23 2Q23 3Q23 4Q23 Source: NBG, BOG *Gross reserves are considered adequate when their amount exceeds the 3-month import bill. 243 Net FX purchases by 2020 2021 2022 2023 NBG, US$ m -916 -355 565 1,279 06 135 1Q15 -160 2Q15 -40 ■ 3Q15 -27■ 4Q15 09- 1Q16 -45 2Q16 3Q16 09- 4Q16 -140 1Q17 2Q17 3Q17 ■40 4Q17 О 1Q18 O 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 -73 -201 ■ 30 1Q20 2Q20 -100 -121 3Q20 -265 4Q20 -430 1Q21 -164 2Q21 -93 3Q21 776- 4Q21 | 77- 1Q22 -26■ Source: NBG 89 ☐ 232 301 461 598 332 -111

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