Investor Presentaiton

Total Operating Expenses at €87 mn Total operating expenses¹ of €87 mn for 4Q2021 and €347 mn for FY2021 Cost to income ratio¹ at 60% for FY2021 • 64% 64% 64% 61% 60% (€ mn) 58% (€ mn) 385 340 347 57% 165 59% 60% 60% 145 145 91 89 89 87 82 41 38 38 32 34 50 50 51 51 50 37 220 195 202 50 4Q2020 1Q2021 2Q2021 3Q2021 4Q2021 FY2019 FY2020 FY2021 FY2019 FY2020 FY2021 1,2 C/I Ratio 1 C/I Ratio excluding Helix 2 Other operating expenses Staff costs Staff costs of €50 mn for 4Q2021, broadly flat qoq; €202 mn for FY2021, up 4% yoy driven mainly by the renewal of the collective agreement in 3Q2021 • Operating expenses of €37 mn for 4Q2021, down 3% qoq; €145 mn for FY2021 broadly flat yoy C/I ratio¹ at 57% for 4Q2021, down 7 p,p, qoq supported by higher non-NII; 60% for FY2021, flat yoy Successful completion of a small-scale targeted Voluntary Staff Exit Plan in 4Q2021 at one-off cost of €16 mn • Gross annual savings in staff costs of c.3% (c.€7 mn) • 100 full time employees left the Bank 1) Excluding special levy on deposits and other levies/contributions 2) Adjusted for the interest income of Helix 2 portfolios 18

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