Investor Presentaiton

Credit Risk - Provisions Accumulated provisions Accumulated provisions (€ bn) Provisions % Gross loans Provision coverage ratios Excluding disposal of the 90+ DPD provision coverage I I majority of the Russian operations Excluding disposal of the NPLs/NPEs provision coverage I majority of the Russian operations 21,6% 22,2% 22,5% 17,6% 18,6% 19,1% 19,3% 20,0% 21,8% 21,6% 45% 37% 39% 38% 39% 41% 42% 43% 41% 41% 38% 16,2% 42% 37% 35% 35% 33% 34% 34% 35% 36% 35% 135% 4,6 4,8 5,0 5,0 4,9 4,9 5,1 5,4 5,4 5,1 4,9 Jun Sep Dec 2013 2013 2013 Mar Jun Sep 2014 2014 2014 Dec 2014 Mar 2015 Jun 2015 Jun 1 Sep 2015 | 2015 (excl. I Jun 2013 Sep Dec Mar 2013 2013 2014 Jun 2014 Sep 2014 Dec Mar Jun 2014 2015 2015 I Jun 2015 2015 Sep (excl. I UB) I LUB) Cost of risk 1 Cost of Risk Cyprus Cost of Risk Group 3,6% 2,8% 2,8% 2,7% 2,1% 2,2% 2,1% 2,4% 2,2% 2,4% 1,9% 1,7% 1,5% 1,6% 1Q2014 1H2014 9M 2014 FY2014 1Q2015 1H2015 9M 2015 Accumulated provisions totalled €4,9 bn and accounted for 21,6% of gross loans at 30 September 2015 The provisioning coverage ratio of 90+ DPD has remained at the same level at 41%, as the previous quarter when adjusting June 2015 results to exclude the Russian operations. The provisioning coverage ratio of 90+ DPD taking into account unrecognised income on contractual customer balances, totalled 52% at 30 September 2015 The provisioning coverage ratio of NPEs (as defined by EBA) totalled 35% at 30 September 2015 Group annualised cost of risk for 9M2015 was 2,1%, compared to 2,2% for 1H2015 and 3,6% for FY2014; Annualised cost of risk for Cyprus for 9M2015 was 1,6%, compared to 1,7% for 1H2015 1 Calculated as the provisions for impairment of customer loans, including provisions of discontinued operations, (in total €635 mn), net of gains on derecognition and changes in expected cash flows on acquired loans (totalling €263 mn) over average gross loans 2 This ratio is calculated by adjusting both the provisions stock and the customer balances to include any unrecognized interest income due on contractual balances. Bank of Cyprus KOINO WKYNРIW 23

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